Agenda - Council - 06/10/1997 - Laserfiche WebLink

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JUN-02-199? 18:03 LEAGUE OF MN CITIES P,05/18 I I i SITE LEASE AGREE_MENT THIS SITE LEASE AGREEMENT ("Lease"), made this day of 1 99_ between City of ("Landlord"), and a organized and existing under the laws of ..... ("Tenant").' For good and valuable consideration, the parties agree as follows: I I I I I I I I I I Leased Premises. Subject to the terms and conditions oft. his I.,e~e, Landlord hereby leases to Tenant and Tenant leases from Landlord a portion of Landlord's property, consisting of approximately . square feet, located at , County of , State of Minnesota, legally described in Exhibit A attached hereto, subject to any and all'existing easements, and a portion of the Water Tower or other structures ("Smacture"), between a minimum height of~ feet and a maximum height of__ feet measured from grade as more particularly shown in Exhibit B attached hereto, on which dix~ctional antennas, connecting cables and appurtenances will be attached and located, the exact location of each to be reasonably approved by Landlord's Director of ., togeth.er with a non-exclusive easement for reasonable access thereto and for adequate utility services, including sources &electric and telephone facilities also shown on Exhibit B ("Leased Premises"). Rent, (a) Amount. Adju~menIs. As consideration for this Lease, Tenant stroll pay Landlord an annual rem in the amount of for the initial year, which shall be increased each year on January 1, by the greater of: (a) five percent (5%) of the previous year's annualized rental, or Ca) by an amount equal to the increase in the Consumer Price Index ("CPI"). The CPI shall mean the "Consumer Price Index - for Ail Urban Consumers, All Cities, All Items (1967 = 100)" as published by the United States Department of Labor Statistics, or if such index shall be discontinued, the successor index, or if there shall be no successor index, such comparable index as mutually agreed upon by the parties. To determine the annual rental increase to be paid by Tenant under a CPI adjuster, the annualized rental for the previous year shall b~ multiplied by a percentage figure, compuxed from a fraction, the numerator of which sba31 be the CPI for the third quarter of the preceding year and the denominator of whlch shall be the CPI for the corresponding quarter of one year earlier. Such fraction shall be convened to ~ percentage equivalent. The resulfin8 percentage fix'~e shall be multiplied by the previous year'~ rent (annualized for the first year, see Paragraph 4 below). I I I Co) Time of~Payment. Taxes. Landlord shall communicate all rental increases to the Tenant in writing by the preceding December 1 &each year. The annual rental shall be paid before January I of each year. For the first year, the rental shall be pro ra'~ed through December 31 and shall be paid to Landlord in full ax the time Lease is executed. If the Tenant does not meet the requiremems referenced in Subparagraph 3(a) below by