Common use of Lease of Leased Premises Clause in Contracts

Lease of Leased Premises. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the Leased Premises for the Lease Term, under the terms and conditions herein, together with a non-exclusive right, in common with others, to use the following (collectively, the “Common Areas”): the areas of the Park and the underlying land and improvements thereto owned by Landlord, from time to time, that are designed for use in common by all tenants of the Park and their respective employees, agents, customers, invitees and others, which as of the Commencement Date will include the Fitness Center, the Café, approximately two (2) acres of recreational fields, two (2) tennis courts, approximately one and one-half (1.5) miles of walking trails within the Park (which walking trails currently connect to a larger network trails within RTP), and certain parking fields and entrance and access drives. Following Substantial Completion of the Additional Improvements, Landlord reserves the right to convey ownership of (which may be by deed or by easement) and/or delegate operating responsibility for all or any portion of the Common Areas to a property owners’ association (a “POA”) established to maintain and oversee the operation and use of certain portions of the Park in a “Class A” manner (including neat, clean, orderly and operable conditions, properly lighted and landscaped (where applicable), in accordance with Applicable Law and free from Hazardous Substances in violation of Applicable Law), in which case Landlord shall be released from any ongoing obligations relative to such Common Areas and such obligations shall be assumed by such POA and documented in a written set of recorded covenants specific to the Park reasonably acceptable to Tenant, and to which Tenant is an explicit third-party beneficiary; provided that the POA shall be liable for and obligated to perform all of Landlord’s obligations under this Lease relative to any such Common Areas so conveyed or delegated, (ii) Landlord agrees to use commercially reasonable efforts to enforce the POA’s obligations relative to such Common Areas and shall share with Tenant copies of all material correspondence with the POA that relate to the subject matter of this Lease, (iii) no such conveyance or delegation by Landlord shall materially or adversely affect Tenant’s use of such portions of the Common Areas consistent with the terms of this Lease, and (iv) the costs allocated to Tenant pursuant to Sections 3.02 and shall not be higher than if Landlord were maintaining and operating such areas itself. Subject to Section 15.06, Tenant hereby acknowledges that the Park (or certain portions thereof, which may include the Building) either has been or may be (provided Landlord is successful in such efforts to achieve such classification) classified as a “Brownfields Property,” as such term is defined under the North Carolina Brownfields Property Reuse Act, N.C. Gen. Stat. §§ 130A-310.20 et seq. (the “Brownfields Act”).

Lease of Leased Premises. Landlord a. Subject to and in accordance with the provision of this Lease Lessor hereby leases to Tenant Lessee and Tenant Lessee hereby leases from Landlord Lessor that space within the Site comprising of that certain parcel of ground (the “Lease Area”) all as shown and described in Exhibit A attached hereto, which, together with the Appurtenant Easement (defined in Section 2), shall be referred to collectively as the “Leased Premises.” b. Lessee acknowledges that with the exception of the air space over the land actually occupied by the Monopole the Leased Premises for shall include the Lease Term, under air right over the terms and conditions herein, together with land only to a non-exclusive right, in common with others, to use height which is the following lesser of fifteen (collectively, l5) feet above the “Common Areas”): ground elevation or the areas bottom of the Park bleachers or other structure that is situated above the Leased Premises. Lessor and Lessee acknowledge that the underlying land and improvements thereto owned by Landlord, from time to time, that are designed for use in common by all tenants exact location of the Park and their respective employeesLeased Premises is, agents, customers, invitees and others, which as of the Commencement Date will include date of the Fitness Centerexecution hereof, the Caféparties current intent with respect thereto, approximately two however the final location may be subject to modification (2upon mutual agreement by both parties) acres based upon the Lessee’s governmental approval process. Lessee and Lessor therefore each covenant and agree, subject to each party’s approval as required in the immediately preceding sentence, to execute an addendum hereto at such time as the final location of recreational fieldsthe Leased Premises is determined in the event that such location differs from that as set forth on Exhibit A. Lessee has inspected the Leased Premises and accepts the same ‘AS IS’ and in its present condition without any representation or warranty of Lessor except any that may be expressly set forth in this Lease. If Lessee is replacing an existing light standard, two Lessee shall construct the Monopole such that the Monopole can support the equipment currently on the Lessor’s lighting fixture (2) tennis courts, approximately one and one-half (1.5) miles of walking trails within the Park (which walking trails currently connect to a larger network trails within RTPMonopole shall replace Lessor’s existing light standard), as well as the equipment to be added to the Monopole by Lessee and/or the Carriers. c. Notwithstanding the foregoing, Lessee acknowledges and certain parking fields agrees that it is solely responsible for performing all necessary due diligence regarding the Site and entrance the Leased Premises, including confirming by way of a title report and access drives. Following Substantial Completion examination that Lessor holds legal title to the Site and that no matters affecting title to the Site prohibit, impair or require third party consent to the leasing of the Additional ImprovementsLeased Premises to Lessee, Landlord reserves the right construction of the improvements contemplated hereunder or any other matter relating or pertaining to convey ownership of this Lease (which may be by deed or by easement) and/or delegate operating the “Due Diligence Matters”). In no event shall Lessor have any responsibility for or liability with respect to the Due Diligence Matters, all of which are hereby waived by Lessee. Lessee agrees to strictly comply at its sole cost and expense with all recorded documents, instruments and agreements affecting title to the Site, and indemnify and hold harmless Lessor against any cost, expense claim, demand, obligation, cause of action or liability with respect to any violation thereof by Lessee or its agents or sub lessee. d. Until the termination or expiration hereof, title to the Monopole and the portions of the Base Station owned by Lessee shall remain with Lessee. After the termination or expiration of this Lease, title to the Monopole and/or those portions of the Base Station owned by Lessee that Lessor has required to remain on the Leased Premises shall, at the option of Lessor, vest in Lessor, and Lessee agrees to promptly execute such further assurances thereof as shall be requested by Lessor. e. It is the intention of Lessee and Lessor that during the Term hereof this Agreement shall constitute an exclusive relationship as it pertains to the construction of telecommunications monopoles and the leasing of space thereon to telecommunications service providers on the Sites. Lessor agrees that it shall not, during the Term, lease, license or grant any interest in any portion of any Site to any telecommunications or other wireless service provider, or to any party constructing monopoles for lease to telecommunications or wireless service providers, other than Lessee, except as may be permitted in accordance with Section 1(f) hereof. Notwithstanding the Common Areas foregoing, Lessor shall be permitted to a property owners’ association license one (a “POA”1) established platform on the Monopole for any Lessor use at no cost to maintain and oversee the operation and Lessor; provided that (i) in no event shall any such use of certain portions the Monopole by Lessor be for commercial purposes or for LTE antennas, (ii) the vertical envelope of the Park in equipment installed by Lessor shall not exceed ten (10) feet, (iii) the total effective wind load of Lessor’s equipment shall not exceed twenty (20) square feet of effective projected area, (iv) the total weight of Lessor’s equipment shall not exceed three hundred (300) pounds and (v) the height of Lessor’s equipment on the Monopole shall be reasonably agreed upon between Lessor and Lessee and shall be subject to the location of the Carriers and any other regulatory limitations (i.e. limitations set forth by the FAA, FCC and other federal, state or local government authorities having jurisdiction over the Monopole). Notwithstanding the foregoing, Lessor’s use of any Monopole and the transmissions from Lessor’s equipment at the Site shall not interfere with those of any Approved Carrier on the Site (or under a “Class A” manner letter of intent) at the time such use is granted and Lessor’s use of the Monopole shall be limited to non-commercial use. Also, Lessor shall be entitled to license space within a Site to any other governmental agency for construction of a monopole for its own use (including neat, clean, orderly and operable conditions, properly lighted and landscaped (where applicablebut not for commercial resale), in accordance with Applicable Law Section 1(f) hereof. f. Subject to Section l(e) hereof, during the term of this Lease (and free from Hazardous Substances in violation any extension of Applicable Lawthe term), Lessor shall not lease any portion of the Site to a person or entity competing with Lessee in which case Landlord the business of constructing towers or monopoles to lease or license to third parties. If Lessor is contacted by any telecommunications carrier or service provider with regard to the Site, Lessor shall direct such Carrier to discuss with Lessee the possibility of locating on the Monopole. If after not less than sixty (60) days negotiation, the Carrier informs Lessor that it was unable to reach an agreement with Lessee Lessor shall be released from entitled to enter into an agreement with that Carrier permitting the Carrier to construct a monopole, tower or similar structure and operate thereon, or otherwise operate on the Site, provided that such operation does not cause signal interference with any ongoing obligations relative to such Common Areas and such obligations Carrier operating on a Monopole at that time. Such agreement shall be assumed by such POA on terms and documented conditions satisfactory to Lessor in a written set of recorded covenants specific its sole discretion. If Lessor breaches this Section, Lessee shall have the right to the Park reasonably acceptable pursue any and all remedies available to Tenant, and to which Tenant is an explicit third-party beneficiary; provided that the POA shall be liable for and obligated to perform all of Landlord’s obligations Lessee under this Lease relative to any such Common Areas so conveyed or delegated, (ii) Landlord agrees to use commercially reasonable efforts to enforce the POA’s obligations relative to such Common Areas and shall share with Tenant copies of all material correspondence with the POA that relate to the subject matter of this Lease, (iii) no such conveyance the Master Lease or delegation by Landlord shall materially or adversely affect Tenant’s use of such portions of the Common Areas consistent with the terms of this Leaseapplicable law including, and (iv) the costs allocated to Tenant pursuant to Sections 3.02 and shall not be higher than if Landlord were maintaining and operating such areas itself. Subject to Section 15.06without limitation, Tenant hereby acknowledges that the Park (or certain portions thereof, which may include the Building) either has been or may be (provided Landlord is successful in such efforts to achieve such classification) classified as a “Brownfields Property,” as such term is defined under the North Carolina Brownfields Property Reuse Act, N.C. Gen. Stat. §§ 130A-310.20 et seq. (the “Brownfields Act”)injunctive relief.

Lease of Leased Premises. Landlord hereby leases (a) Subject to Tenant the terms and Tenant hereby leases from Landlord conditions hereof, the Lessor agrees to lease to the Lessee any and all of the Leased Premises for the Lease Term. The Lessor shall not be obligated to acquire any Leased Premises for lease hereunder unless: (i) the Purchase Price plus the Estimated Improvement Cost of such Leased Premises and all other Leased Premises leased hereunder does not exceed $30,000,000; (ii) the Lessee causes the conveyance of title to such Leased Premises to the Lessor as provided in Section 3.02 of the Participation Agreement; (iii) at the time any such Leased Premises is to be leased hereunder, under there exists no Event of Default or Unmatured Event of Default; and (iv) the other terms and conditions hereof and of the Participation Agreement including without limitation the terms and conditions herein, together with a non-exclusive right, in common with others, to use the following of Article III thereof are satisfied. (collectively, the “Common Areas”): the areas b) The lease of each of the Park Leased Premises to the Lessee under this Lease Agreement shall be evidenced by the execution and delivery by the Lessor and the underlying land and improvements thereto owned Lessee of a Lease Supplement. In addition, each Advance made by Landlordthe Lessor to the Lessee under the Agency Agreement shall be evidenced by a Lease Supplement. No Closing Date shall occur after April 16, from time to time1999. (c) Execution by the Lessee of a Lease Supplement shall constitute (i) in the case of a Lease Supplement evidencing the lease of Leased Premises, (x) acknowledgment by the Lessee that are designed for use in common by all tenants possession of the Park Leased Premises specified therein has been delivered to the Lessee in good condition and their respective employees, agents, customers, invitees and others, which has been accepted for lease hereunder by the Lessee as of the Commencement Date will include the Fitness Center, the Café, approximately two (2) acres of recreational fields, two (2) tennis courts, approximately one and one-half (1.5) miles of walking trails within the Park (which walking trails currently connect to a larger network trails within RTP)Closing Date, and certain parking fields and entrance and access drives. Following Substantial Completion (y) acknowledgment by the Lessee that the Leased Premises specified therein are subject to all of the Additional Improvementscovenants, Landlord reserves the right to convey ownership terms and conditions of (which may be by deed or by easement) and/or delegate operating responsibility for all or any portion of the Common Areas to a property owners’ association (a “POA”) established to maintain and oversee the operation and use of certain portions of the Park in a “Class A” manner (including neat, clean, orderly and operable conditions, properly lighted and landscaped (where applicable), in accordance with Applicable Law and free from Hazardous Substances in violation of Applicable Law), in which case Landlord shall be released from any ongoing obligations relative to such Common Areas this Lease Agreement and such obligations shall be assumed by such POA and documented in a written set of recorded covenants specific to the Park reasonably acceptable to TenantLease Supplement, and to which Tenant is an explicit third-party beneficiary; provided that the POA shall be liable for and obligated to perform all of Landlord’s obligations under this Lease relative to any such Common Areas so conveyed or delegated, (ii) Landlord agrees in the case of a Lease Supplement evidencing an Advance under the Agency Agreement, (x) acknowledgment by the Lessee that all the Work performed and Improvements constructed to use commercially reasonable efforts to enforce date are a part of the POA’s obligations relative to such Common Areas Leased Premises and shall share with Tenant copies of all material correspondence with the POA that relate subject to the subject matter of this Lease, Lease Agreement and (iiiy) no such conveyance or delegation by Landlord shall materially or adversely affect Tenant’s use acknowledgment that the amount of such portions Advance shall be added to, and become a part of, the Outstanding Property Cost on such Advance Date. (d) So long as the Lessee pays the Basic Rent, any Supplemental Rent and any other sums payable hereunder as the same become due and fully complies with all of the Common Areas consistent with the terms of this LeaseLease Agreement and the other Transaction Documents and fully performs its obligations hereunder and thereunder, and so long as no Event of Default has occurred and is continuing, the Lessor covenants that, subject to the terms of this Lease Agreement and the other Transaction Documents, neither the Lessor nor anyone claiming by, through or under the Lessor shall interfere with the Lessee's peaceful and quiet enjoyment of the Leased Premises (iv) except in respect of claims which the costs allocated Lessee is obligated to Tenant indemnify any Indemnified Party pursuant to Sections 3.02 Section 4.02 of the Participation Agreement and claims arising from encumbrances on any Leased Premises existing on the Closing Date thereof). No failure by the Lessor to comply with the foregoing covenant shall not be higher than if Landlord were maintaining and operating such areas itself. Subject give the Lessee any right to Section 15.06cancel or terminate this Lease Agreement or to xxxxx, Tenant hereby acknowledges that reduce or make a deduction from or offset against the Park (Basic Rent, Supplemental Rent or certain portions thereofany other amount payable under this Lease Agreement, which may include the Building) either has been or may be (provided Landlord is successful in such efforts to achieve such classification) classified as a “Brownfields Property,” as such term is defined under the North Carolina Brownfields Property Reuse Act, N.C. Gen. Stat. §§ 130A-310.20 et seq. (the “Brownfields Act”)fail to perform any other obligation of Lessee hereunder.