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AG 2017 06 19
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AG 2017 06 19
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Last modified
6/22/2017 8:53:39 AM
Creation date
11/27/2017 10:28:50 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
6/19/2017
Board
Board of Commissioners
Meeting Type
Regular
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5. Lease Term. <br /> a) The Initial Term of the Lease shall be five (5) years commencing on the date of Tenant's <br /> exercise of the Option (the "Commencement Date"), and ending at midnight on the day immediately <br /> preceding the fifth (5t") anniversary of the Commencement Date (the "Initial Term"). The Initial Term, <br /> together with any Renewal Terms and Extended Periods are referred to collectively as the "Term." <br /> b) The Initial Term shall automatically renew for five (5) successive renewal terms of five (5) <br /> years each (each a "Renewal Term"), provided, however, that Tenant may elect not to renew by providing <br /> notice prior to the expiration of the then current Term. <br /> c) Upon the expiration of the final Renewal Term, Tenant shall have the right to continue to <br /> occupy the Premises and the Term shall automatically extend for successive one (1) year periods (each, an <br /> "Extended Period"). Landlord may terminate the renewal of any Extended Period by delivery of notice at least <br /> six (6) months prior to the end of the then current Extended Period. Tenant may terminate any Extended <br /> Period at anytime by delivery of notice to Landlord. <br /> 6. Rent/Other Charges. <br /> a) Upon the Commencement Date, Tenant shall pay Landlord rent in the amount of eight <br /> hundred Dollars ($800.00) per month (the "Rent"). Tenant shall deliver Rent to Landlord at the address <br /> specified in Section 15, or by electronic payment. The first Rent payment shall be due within twenty (20) <br /> business days after the Commencement Date. Subsequent Rent shall be payable by the fifth day of each <br /> month. <br /> b) The Rent for each successive Renewal Term shall be an amount equal to one hundred ten <br /> percent (110%) of the Rent for the immediately preceding Term. The Rent shall continue to be paid on a <br /> monthly basis. The Rent for each Extended Period shall be an amount equal to one hundred two percent <br /> (102%) of the Rent for the immediately preceding Term. <br /> c) Rent for any partial month shall be prorated on a per day basis, based on the number of <br /> days in the month in question. Landlord shall cooperate with Tenant regarding the use of any electronic rent <br /> payment systems or the provision of any associated documentation. Tenant may condition payment of Rent <br /> and any other sums payable under this Agreement upon Tenant's receipt of a duly completed IRS form W-9, or <br /> similar governmental form. <br /> d) Any charges payable under this Agreement other than Rent shall be billed by Landlord to <br /> Tenant within twelve (12) months from the date the charges were incurred or due; otherwise the charges shall <br /> be deemed time-barred and forever waived and released by Landlord. <br /> 7. Interference. Tenant shall not interfere with the radio frequency communications of Landlord or <br /> any of Landlord's existing tenants as of the Effective Date. After the Effective Date, Landlord shall not install, <br /> or permit any third party to install, any equipment or structures that interfere with or restrict the operations <br /> of Tenant. Any such interference shall be deemed a material breach of this Agreement by Landlord and <br /> Landlord shall remove the cause of the interference within forty-eight (48) hours of notice. Tenant shall have <br /> the right to exercise all legal and equitable rights and remedies to end the interference <br /> Site Number: 5CT0156A -2- Site Lease—version 6.26.14 <br /> Site Name: Kannapolis <br /> Market: Carolinas Attachment number 1 \n <br /> G-5 Page 211 <br />
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