- Signed on Dec 7, 2006.
- "Term: 5 years commencing with the earlier of: (i) the start of the construction of Lessee's Facilities, (ii) the issuance of all of Lessee's approvals from the Division of the State Architect allowing Lessee to construct Lessee's Facilities on the Leased site, or (iii) twelve (12) months following the Effective Date ("Commencement Date"). Lessee shall promptly deliver written notice to Lessor of the Commencement Date. Lessee shall have the right to extend the Term of this Lease Agreement for four (4) additional terms (each a "Renewal Term") of five (5) years each. The terms and conditions of each Renewal Term shall be the same terms and conditions as in this Lease Agreement, except that the Rent shall be increased as set forth hereinbelow. This Lease Agreement shall automatically be extended for each successive five (5) year Renewal Term unless Lessee notifies Lessor in writing of Lessee's intention to not to extend this Lease Agreement at least ninety (90) days prior to the expiration of the First Term or any Renewal Term."
- "Rent: Within fifteen (15) days of the Commencement Date and on the first day of each month thereafter, Lessee shall pay Lessor, as rent, the sum of One Thousand Dollars ($1,000.00) ("Rent") per month."
- "Termination: Except as otherwise provided herein, this Lease Agreement may be terminated by Lessee by delivery of written notice thereof to Lessor prior to the Commencement Date for any reason resulting from Lessee's Due Diligence. This Lease may be terminated without further liability on thirty (30) days prior written notice as follows: (i) by either party upon a default of any convenant, condition, or term herof by the other party, which default is not cured within sixty (60) days of receipt of written notice of default; provided, however Lessee shall have ten (10) days fro the receipt of written notice to cure any monetary default hereunder; (ii) by Lessee if it does not obtain licenses, permits or other approvals necessary to the construction or operation of Lessee's Facilities ("Permits"), despite reasonable good faith efforts to do so; (iii) by Lessee if Lessee is unable to occupy or utilize the Premises due to ruling or directive of the FCC or other governmental or regulatory agency, including, but no limited to, a take back of frequencies; or (iv) by Lessee if any environmental report for Lessor's Real Property reveals the presence of any Hazardous Materials in violation of any law, after the Commencement Date of which Lessee was unaware of prior to the Commencement Date; or (v) by Lessee if Lessee reaonsably determines that the Premises are not appropriate for its operations for technological reasons; provided, however, if Lessee terminates the llease Agreement for any reason other than a default by Lessor prior to the date that is five (5) years after the Commencement Date (including without limitation during Due Diligence), then it shall become a condition to Lessee's right to terminate this Lease Agreement that Lessee shall pay to Lessor a termination fee in an amount equal to the greater of (x) Three Thousand Dollars ($3,000.00) and (y) three months of Rent. Other than as stated herein, Lessor shall not have the right to terminate, revoke or cancel this Lease Agreement."
- Renewal of lease received on October 18, 2011 indicating that the current term expires on December 6, 2012.
One sided agreement, favorable to the Lessee but not the school district.
Complete agreement available for download: