Laserfiche WebLink
Site Name: Ramsey Dysprosium Water TOwer Sprint PCS Site ID #: MS60XC333A <br /> <br />3. TERM] This LeaSe 'Agreement Shall be effective as of the date of execution by <br />both parties, provided however, :the initial term shall be for five (5) years and shall <br />commence on, the Commencement Date (aS hereinafter defined) at which time rental <br />payments will be due. The annual rental rate shall be paid in equal monthly installments on <br />the first day of the month, in adVancei to LessorLESSOR. The Commencement Date is <br />defined as the first day ofithe month:following the date LesseeLESSEE commences <br />construction, or a date which is the first day of the month following the date which is 60 <br />days after LeSseeLESSEE is granted all required permits and government approvals, <br />whichever event occurs first. ': <br /> <br />The annual rental rate for the first year following the Commencement Date shall be twenty <br />-four thousand :and 00/100. dqllars ($24,000) ._The annual rental <br />for the second year and each succeeding year shall be increased to the annual rental <br />determined thereof by a formula as. follows: <br /> <br />Renewal Rent = (Basic Rent)+((IR;IL)/IL X Basic Rent) <br /> <br />Definitions: <br /> <br />IR is the Cons .urner Price Index for the month <br />which is three (3) months immediately <br />preceding the month in which the second year <br />and each Succeeding year commence. <br /> <br />IL is the ConsUmer Price Index for the month <br />which is three 3 months immediately preceding <br />the month in Which this Lease commenced. <br /> <br />"Consumer Price Index" shall; mean the Consumer Price Index published by the Bureau of <br />Labor Statistics of the United States Department of Labor for Urban Wage Earners and <br />Clerical Workers for All Items (Base 1982-84=100) For the Minneapolis/St. Paul <br />consolidated Metropolitan statistical Area or shall mean the successor thereto, In the event <br />the Consumer Price Index is converted to a different standard reference base or otherwise <br />revised, the determination of the rent for the second year and each succeeding year shall be <br />made with the use of such conversion factor, formula or table for converting the Consumer <br />Price Index as may be published by the Bureau of Labor Statistics, or if the Bureau should <br />fail to publish the same, ,then withl the use of such conversion factor, formula or table for <br />converting the Consumer Price Index aS may be published by Prentice Hall, Inc., or any <br />other nationally recognized publisher or similar statistical information. If the Consumer <br />Price Index ceases to be published and there is no successor thereto, such other index as <br /> ..... 4- ~c~r~r, and r ~ <br />............... LesSee,~,~,~,,-,,-, may agree upon shall be substituted for the Consumer <br />Price Index. <br /> <br />419033/2 <br /> <br />2 <br /> <br /> <br />