Option to Lease. (a) Landlord grants to Tenant an option (the "Option") to lease a portion of the Property consisting of (i) a room/cabinet/ground area space of approximately One thousand five hundred forty six (1546) square feet approximately 70’ x 13.5’ including the air space above such room/cabinet/ground space and (ii) space on the structure together with such easements as are necessary for the antennas and initial installation as described on attached Exhibit 1 (collectively, the "Premises"). (b) During the Option period and any extension thereof, and during the term of this Agreement, Tenant and its agents, engineers, surveyors and other representatives will have the right to enter upon the Property to inspect, examine, conduct soil borings, drainage testing, material sampling, radio frequency testing and other geological or engineering tests or studies of the Property (collectively, the "Tests"), to apply for and obtain licenses, permits, approvals, or other relief required of or deemed necessary or appropriate at Tenant’s sole discretion for its use of the Premises and include without limitation applications for zoning variances, zoning ordinances, amendments, special use permits, and construction permits (collectively, the "Government Approvals"), initiate the ordering and/or scheduling of necessary utilities, and otherwise to do those things on or off the Property that, in the opinion of Tenant, are necessary in Tenant’s sole discretion to determine the physical condition of the Property, the environmental history of the Property, Landlord’s title to the Property and the feasibility or suitability of the Property for Tenant’s Permitted Use, all at Tenant’s expense. Tenant will not be liable to Landlord or any third party on account of any pre-existing defect or condition on or with respect to the Property, whether or not such defect or condition is disclosed by Tenant’s inspection. Tenant will restore the Property to its condition as it existed at the commencement of the Option Term (as defined below), reasonable wear and tear and casualty not caused by Tenant excepted. In addition, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all injury, loss, damage or claims arising directly out of Tenant’s Tests. (c) In consideration of Landlord granting Tenant the Option, Tenant agrees to pay Landlord the sum of FIVE HUNDRED and No/100 Dollars ($500.00) within thirty (30) business days of the Effective Date. The Option will be for an initial term of one (1) year commencing on the Effective Date (the "Initial Option Term") and may be renewed by Tenant for an additional one (1) year upon written notification to Landlord and the payment of an additional FIVE HUNDRED and No/100 Dollars ($500.00) no later than ten (10) days prior to the expiration date of the Initial Option Term. (d) The Option may be sold, assigned or transferred at any time by Tenant to Tenant’s parent company or member if Tenant is a limited liability company or any affiliate or subsidiary of, or partner in, Tenant or its parent company or member, or to any third party agreeing to be subject to the terms hereof. Otherwise, the Option may not be sold, assigned or transferred without the written consent of Landlord, such consent not to be unreasonably withheld, conditioned or delayed. From and after the date the Option has been sold, assigned or transferred by Tenant to a third party agreeing to be subject to the terms hereof, Tenant shall immediately be released from any and all liability under this Agreement, including the payment of any rental or other sums due, without any further action. (e) During the Initial Option Term and any extension thereof, Tenant may exercise the Option by notifying Landlord in writing. If Tenant exercises the Option then Landlord leases the Premises to the Tenant subject to the terms and conditions of this Agreement. If Tenant does not exercise the Option during the Initial Option Term, or any extension thereof, this Agreement will terminate and the parties will have no further liability to each other. (f) If during the Initial Option Term or any extension thereof, or during the term of this Agreement if the Option is exercised, Landlord decides to subdivide, sell, or change the status of the zoning of the Premises, Property or any of Landlord’s contiguous, adjoining or surrounding property (the “Surrounding Property,” which includes (without limitation) the remainder of the structure) or in the event of foreclosure, Landlord shall immediately notify Tenant in writing. Any sale of the Property shall be subject to Tenant’s rights under this Agreement.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Option to Lease. (a) As of the Effective Date, Landlord grants to Tenant an the exclusive option to lease the Premises (the "“Option"”) to lease a portion of the Property consisting of (i) a room/cabinet/ground area space of approximately One thousand five hundred forty six (1546) square feet approximately 70’ x 13.5’ including the air space above such room/cabinet/ground space and (ii) space on the structure together with such easements as are necessary for the antennas and initial installation as described on attached Exhibit 1 (collectively, the "Premises").
(b) During during the Option period and Period (defined below). At any extension thereof, and time during the term of this AgreementOption Period and Term (defined below), Tenant and its agents, engineers, surveyors and other representatives will have the right to enter upon the Property to inspect, examine, conduct soil borings, drainage testing, material sampling, radio frequency testing and other geological or engineering tests or studies of the Property (collectively, the "“Tests"”), to apply for and obtain licenses, permits, approvals, or other relief required of or deemed necessary or appropriate at Tenant’s sole discretion for its use of the Premises and include including, without limitation limitation, applications for zoning variances, zoning ordinances, amendments, special use permits, and construction permits and any other permits and approvals deemed necessary by Tenant (collectively, the "“Government Approvals"”), initiate the ordering and/or scheduling of necessary utilities, obtain a title report with respect to the Property, and otherwise to do those things on or off the Property that, in the opinion of Tenant, are necessary in TenantXxxxxx’s sole discretion to determine the physical condition of the Property, the environmental history of the Property, Landlord’s title to the Property and the feasibility or suitability of the Property for Tenant’s Permitted Usepermitted use under this Agreement, all at Tenant’s expense. Tenant shall be authorized to apply for the Government Approvals on behalf of Landlord and Landlord agrees to reasonably cooperate with such applications. Tenant will not be liable to Landlord or any third party on account of any pre-existing defect or condition on or with respect to the Property, whether or not such defect or condition is disclosed by TenantXxxxxx’s inspectionTests. Tenant will restore the Property to its condition as it existed at the commencement of the Option Term (as defined below)prior to conducting any Tests, reasonable wear and tear and casualty not caused by Tenant excepted. In addition, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all injury, loss, damage or claims arising directly out of TenantXxxxxx’s Tests.
(cb) In consideration of Landlord granting Tenant the Option, Tenant Xxxxxx agrees to pay Landlord the sum of FIVE HUNDRED and No/100 Two Thousand Dollars ($500.002,000.00) within thirty (30) business days of the Effective Datefull execution of this Agreement. The Option Period will be for an initial a term of one two (12) year commencing on years from the Effective Date (the "Initial “Option Term") and may be renewed by Tenant for an additional one (1) year upon written notification to Landlord and the payment of an additional FIVE HUNDRED and No/100 Dollars ($500.00) no later than ten (10) days prior to the expiration date of the Initial Option TermPeriod”).
(dc) The Option may be sold, assigned or transferred at any time by Tenant to Tenant’s parent company or member if Tenant is a limited liability company or any affiliate or subsidiary of, or partner in, Tenant or its parent company or member, or to any third party agreeing to be subject to the terms hereof. Otherwise, the Option may not be sold, assigned or transferred without the written consent of Landlord, such consent not to be unreasonably withheld, conditioned or delayed. From and after the date the Option has been sold, assigned or transferred by Tenant to a third party agreeing to be subject to the terms hereof, Tenant shall immediately be released from any and all liability under this Agreement, including the payment of any rental or other sums due, without any further action.
(e) During the Initial Option Term and any extension thereof, Tenant may exercise the Option by notifying Landlord in writing. If Tenant exercises at any time during the Option then Period by delivery of written notice to Landlord leases (the Premises to “Notice of Exercise of Option”). The Notice of Exercise of Option shall set forth the Tenant subject to commencement date (the terms and conditions “Commencement Date”) of this Agreementthe Initial Term (defined below). If Tenant does not exercise the provide a Notice of Exercise of Option during the Initial Option Term, or any extension thereofPeriod, this Agreement will terminate and the parties will have no further liability to each other.
(fd) If during the Initial Option Term or any extension thereof, or during the term of this Agreement if During the Option is exercised, Landlord decides to subdivide, sell, Period or change the status of the zoning of the Premises, Property or any of Landlord’s contiguous, adjoining or surrounding property (the “Surrounding Property,” which includes (without limitation) the remainder of the structure) or in the event of foreclosureTerm, Landlord shall immediately notify Tenant in writing. Any sale not take any action to change the zoning status or land use of the Property shall be subject to Tenant’s rights under this Agreementwhich would diminish, impair, or adversely affect the use of the Premises by Tenant for its permitted uses hereunder.
Appears in 1 contract
Samples: Option and Lease Agreement
Option to Lease. (a) In consideration of the payment of Two Hundred Dollars ($200) (the "Option Fee") by Tenant to Landlord, Landlord hereby grants to Tenant an option (the "Option") to lease the use of a portion of the Property consisting of (i) a room/cabinet/ground area space of approximately One thousand five hundred forty six (1546) square feet approximately 70’ x 13.5’ including the air space above such room/cabinet/ground space and (ii) space real property described below, on the structure together with such easements as are necessary for terms and conditions set forth herein (the antennas and initial installation as described on attached Exhibit 1 (collectively, the "Premises"“Option”).
(b) During the Option period and any extension thereof, and during the term of this Agreement, Tenant and its agents, engineers, surveyors and other representatives will have the right to enter upon the Property to inspect, examine, conduct soil borings, drainage testing, material sampling, radio frequency testing and other geological or engineering tests or studies of the Property (collectively, the "Tests"), to apply for and obtain licenses, permits, approvals, or other relief required of or deemed necessary or appropriate at Tenant’s sole discretion for its use of the Premises and include without limitation applications for zoning variances, zoning ordinances, amendments, special use permits, and construction permits (collectively, the "Government Approvals"), initiate the ordering and/or scheduling of necessary utilities, and otherwise to do those things on or off the Property that, in the opinion of Tenant, are necessary in Tenant’s sole discretion to determine the physical condition of the Property, the environmental history of the Property, Landlord’s title to the Property and the feasibility or suitability of the Property for Tenant’s Permitted Use, all at Tenant’s expense. Tenant will not be liable to Landlord or any third party on account of any pre-existing defect or condition on or with respect to the Property, whether or not such defect or condition is disclosed by Tenant’s inspection. Tenant will restore the Property to its condition as it existed at the commencement of the Option Term (as defined below), reasonable wear and tear and casualty not caused by Tenant excepted. In addition, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all injury, loss, damage or claims arising directly out of Tenant’s Tests.
(c) In consideration of Landlord granting Tenant the Option, Tenant agrees to pay Landlord the sum of FIVE HUNDRED and No/100 Dollars ($500.00) within thirty (30) business days of the Effective Date. The Option will shall be for an initial term of 12 months, commencing on the date hereof and ending one (1) year commencing on the Effective Date thereafter (the "Initial “Option Term") and Period”). The Option Period may be renewed extended by Tenant for an additional one (1) year 12 months upon written notification notice to Landlord and the payment of an additional FIVE HUNDRED and No/100 the sum of Two Hundred Dollars ($500.00200) no later than ten (10"Additional Option Fee") days at any time prior to the expiration date end of the Initial Option TermPeriod.
(db) The Option may Landlord agrees to cooperate with and to allow Tenant, at no cost to Landlord, to obtain a title report, perform surveys, soil tests, and other engineering procedures or environmental investigations on, under and over the Property, necessary to determine that Tenant's use of the Premises will be sold, assigned or transferred at any time by Tenant to compatible with Tenant’s parent company or member if Tenant is a limited liability company or any affiliate or subsidiary ofengineering specifications, or partner insystem design, Tenant or its parent company or member, or to any third party agreeing to be subject to the terms hereofoperations and Governmental Approvals. Otherwise, During the Option may not be sold, assigned or transferred without the written consent of Landlord, such consent not to be unreasonably withheld, conditioned or delayed. From and after the date the Option has been sold, assigned or transferred by Tenant to a third party agreeing to be subject to the terms hereof, Tenant shall immediately be released from any and all liability under this Agreement, including the payment of any rental or other sums due, without any further action.
(e) During the Initial Option Term Period and any extension thereofextension, Tenant may exercise the Option by notifying Landlord in writing. , at Landlord's address in accordance with Section 12 herein.
(c) If Tenant exercises the Option then Landlord leases the Premises to the Tenant Option, then, subject to the following terms and conditions of this Agreement. If Tenant does not exercise the Option during the Initial Option Term, or any extension thereof, this Agreement will terminate and the parties will have no further liability to each other.
(f) If during the Initial Option Term or any extension thereof, or during the term of this Agreement if the Option is exercisedconditions, Landlord decides hereby leases to subdivide, sell, or change the status of the zoning of the Premises, Property or any of Landlord’s contiguous, adjoining or surrounding property Tenant (the “Surrounding Property,” which includes (without limitationLease”) the remainder use of the structure) or in the event of foreclosure, Landlord shall immediately notify Tenant in writing. Any sale that certain portion of the Property sufficient for placement of Antenna Facilities (as defined below), together with all necessary space and easements for access and utilities. The Premises is legally described as: Tract “A” of Tract 1 of the W1/2 SW1/4 of Section 23, T1N, R7E, BHM, Xxxxxxxxxx County, South Dakota (as set out in Plat Book 11, Page 207 of the Xxxxxxxxxx County Register of Deeds.) The Premises contains 6.90 Acres more or less and is located north of Golden Eagle Drive and adjacent to old Marine Life. At such time as the Tenant exercise its option under this agreement, the parties shall designate in writing the portion of the Premises sufficient for placement of the Antenna Facilities, which shall be subject to Tenant’s rights under then become a part of this Agreement.lease as Exhibit A.
Appears in 1 contract
Samples: Site Lease With Option Agreement
Option to Lease. (a) Landlord grants to Tenant an option (the "Option") to lease a portion of the Property consisting of of:
(i) a room/cabinet/ground area space of approximately One thousand five Approximately nine hundred forty six sixty (1546960) square feet approximately 70’ x 13.5’ including the air space above such room/cabinet/ground space and (ii) space on the structure together with such easements as are necessary for the antennas and initial installation space, as described on attached Exhibit 1, for the placement of Tenant’s Communication Facility (the “Equipment Space”
(ii) that certain space adjacent to the Equipment Space, as generally depicted on Exhibit 1 annexed hereto and made a part hereof, where Tenant shall have the right to install a monopole as a location for Tenant’s antennas and other equipment (collectively, the "“Antenna Space”; and
(iii) those certain areas where Tenant’s conduits, wires, cables, cable trays and other necessary connections are located between the Equipment Space and the Antenna Space, and between the Equipment Space and the electric power, telephone, and fuel sources for the Property (hereinafter collectively referred to as the “Connection Space”). Xxxxxxxx agrees that Tenant shall have the right to install connections between Tenant’s equipment in the Equipment Space and Antenna Space; and between Tenant’s equipment in the Equipment Space and the electric power, telephone, and fuel sources for the Property, and any other improvements. Landlord further agrees that Tenant shall have the right to install, replace and maintain utility lines, wires, poles, cables, conduits, pipes and other necessary connections over or along any right-of-way extending from the aforementioned public right-of-way to the Premises"). Notwithstanding the foregoing, Tenant, to the extent feasible, shall locate all lines, wires, conduits and cables on existing poles extending from the roadway into Landlord’s Property. The Equipment Space, Antenna Space, and Connection Space, are hereinafter collectively referred to as the “Premises”.
(b) During the Option period and any extension thereofTerm, and during the term of this Agreement, Tenant and its agents, engineers, surveyors and other representatives will have the right to enter upon the Property to inspect, examine, conduct soil borings, drainage testing, material sampling, radio frequency testing and other geological or engineering tests or studies of the Property (collectively, the "Tests"), to apply for and obtain licenses, permits, approvals, or other relief required of or deemed necessary or appropriate at Tenant’s sole discretion for its use of the Premises and include include, without limitation limitation, applications for zoning variances, zoning ordinances, amendments, special use permits, and construction permits (collectively, the "Government Approvals"), initiate the ordering and/or scheduling of necessary utilities, and otherwise to do those things on or off the Property that, in the opinion of Tenant, are necessary in Tenant’s sole discretion to determine the physical condition of the Property, the environmental history of the Property, LandlordXxxxxxxx’s title to the Property and the feasibility or suitability of the Property for Tenant’s Permitted Use, all at Tenant’s expense. Tenant will not be liable to Landlord or any third party on account of any pre-existing defect or condition on or with respect to the Property, whether or not such defect or condition is disclosed by TenantXxxxxx’s inspection. Tenant will restore the Property to its condition as it existed at the commencement of the Option Term (as defined below)Term, reasonable wear and tear and loss by casualty not caused by Tenant excepted. In addition, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all injury, loss, damage or claims arising directly out of other causes beyond Tenant’s Testscontrol excepted.
(c) In consideration of Landlord granting Tenant the Option, Tenant Xxxxxx agrees to pay Landlord the sum of FIVE HUNDRED one thousand and No/100 Dollars ($500.001,000.00) within thirty (30) business days of the Effective Date. The Option will be for an initial term of one two (12) year years commencing on the Effective Date (the "Initial Option Term") and may be renewed by Tenant for an additional one (1) year upon written notification to Landlord and the payment of an additional FIVE HUNDRED and No/100 Dollars ($500.00) no later than ten (10) days prior to the expiration date of the Initial Option Term).
(d) The Option may be sold, assigned or transferred at any time by Tenant to Tenant’s parent company or member if an Affiliate (as that term is hereinafter defined) of Tenant is a limited liability company or any affiliate or subsidiary of, or partner in, Tenant or its parent company or member, or to any third party agreeing to be subject to the terms hereof. Otherwise, the Option may not be sold, assigned or transferred without the written consent of Landlord, such consent not to be unreasonably withheld, conditioned or delayed. From and after the date the Option has been sold, assigned or transferred by Tenant to an Affiliate or a third party agreeing to be subject to the terms hereof, Tenant shall immediately be released from any and all liability under this Agreement, including the payment of any rental or other sums due, without any further action.
(e) During the Initial Option Term and any extension thereofTerm, Tenant may exercise the Option by notifying Landlord in writing. If Tenant exercises the Option then Landlord leases the Premises to the Tenant subject to the terms and conditions of this Agreement. If Tenant does not exercise the Option during the Initial Option Term, Term or any extension thereof, this Agreement will terminate and the parties will have no further liability to each other.
(f) If during the Initial Option Term or any extension thereofTerm, or during the term of this Agreement if the Option is exercised, Landlord decides to subdivide, sell, or change the status of the zoning of the Premises, Property or any of Landlord’s contiguous, adjoining or surrounding property (the “Surrounding Property,” which includes (without limitation) the remainder of the structure”) or in the event of foreclosure, Landlord shall immediately notify Tenant in writing. Any sale Landlord agrees that during the Option Term, or during the Term of this Agreement if the Option is exercised, Landlord shall not initiate or consent to any change in the zoning of the Premises, Property or Surrounding Property or impose or consent to any other use or restriction that would prevent or limit Tenant from using the Premises for the Permitted Use. Any and all terms and conditions of this Agreement that by their sense and context are intended to be applicable during the Option Term shall be subject to Tenant’s rights under this Agreementso applicable.
Appears in 1 contract
Samples: Option and Lease Agreement
Option to Lease. (a) In consideration of the payment of one hundred and no/100 dollars ($100.00) (the “Option Fee”) by Tenant to Landlord, Landlord hereby grants to Tenant an option (the "Option") to lease the use of a portion of the Property consisting of real property described in the attached Exhibit A (i) a room/cabinet/ground area space of approximately One thousand five hundred forty six (1546) square feet approximately 70’ x 13.5’ including the air space above such room/cabinet/ground space and (ii) space “Property”), on the structure together with such easements terms and conditions set forth herein (the “Option”). The Option shall be for an initial term of twelve (12) months, commencing on the Effective Date (as are necessary defined below) (the “Option Period”). The Option Period may be extended by Tenant for one (1) additional twelve (12) month period upon written notice to Landlord and payment of the antennas sum of one hundred and initial installation as described on attached Exhibit 1 no/100 dollars (collectively, $100.00) (“Additional Option Fee”) at any time prior to the "Premises")end of the Option Period.
(b) During the Option period Period and any extension thereof, and during the term of this AgreementLease, Landlord agrees to cooperate with Tenant and its agentsin obtaining, engineers, surveyors and other representatives will have the right to enter upon the Property to inspect, examine, conduct soil borings, drainage testing, material sampling, radio frequency testing and other geological or engineering tests or studies of the Property (collectively, the "Tests"), to apply for and obtain licenses, permits, approvals, or other relief required of or deemed necessary or appropriate at Tenant’s sole discretion expense, all licenses and permits or authorizations required for its Tenant’s use of the Premises Antenna Site (as defined below) from all applicable government and/or regulatory entities (including, without limitation, zoning and include without limitation applications for land use authorities, and the Federal Communication Commission (“FCC”) (“Governmental Approvals”), including all land use and zoning permit applications, and Landlord agrees to cooperate with and to allow Tenant, at no cost to Landlord, to obtain a title report, zoning approvals and variances, zoning ordinances, amendments, special land-use permits, and construction permits (collectively, the "Government Approvals"), initiate the ordering and/or scheduling Landlord expressly grants to Tenant a right of necessary utilities, and otherwise to do those things on or off the Property that, in the opinion of Tenant, are necessary in Tenant’s sole discretion to determine the physical condition of the Property, the environmental history of the Property, Landlord’s title access to the Property to perform surveys, soils tests, and other engineering procedures or environmental investigations on the feasibility or suitability Property necessary to determine that Tenant’s use of the Property for Antenna Site will be compatible with Tenant’s Permitted Useengineering specifications, all at Tenant’s expensesystem design, operations and Governmental Approvals. Tenant will not be liable Notwithstanding the foregoing, it is understood that Landlord is the local zoning authority and also has responsibility under the law to administer and enforce applicable building codes, and nothing contained in this Lease obligates Landlord or to act in any third party on account of any pre-existing defect or condition on or particular way with respect to any application for a Government Approval submitted to Landlord that is within Landlord’s jurisdiction to administer, approve, conditionally approve or deny. During the PropertyOption Period and any extension thereof, whether or Landlord agrees that it will not such defect or condition is disclosed by interfere with Tenant’s inspectionefforts to secure other licenses and permits or authorizations that relate to other property. Tenant will restore the Property to its condition as it existed at the commencement of During the Option Term (as defined below), reasonable wear and tear and casualty not caused by Tenant excepted. In addition, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all injury, loss, damage or claims arising directly out of Tenant’s Tests.
(c) In consideration of Landlord granting Tenant the Option, Tenant agrees to pay Landlord the sum of FIVE HUNDRED and No/100 Dollars ($500.00) within thirty (30) business days of the Effective Date. The Option will be for an initial term of one (1) year commencing on the Effective Date (the "Initial Option Term") and may be renewed by Tenant for an additional one (1) year upon written notification to Landlord and the payment of an additional FIVE HUNDRED and No/100 Dollars ($500.00) no later than ten (10) days prior to the expiration date of the Initial Option Term.
(d) The Option may be sold, assigned or transferred at any time by Tenant to Tenant’s parent company or member if Tenant is a limited liability company or any affiliate or subsidiary of, or partner in, Tenant or its parent company or member, or to any third party agreeing to be subject to the terms hereof. Otherwise, the Option may not be sold, assigned or transferred without the written consent of Landlord, such consent not to be unreasonably withheld, conditioned or delayed. From and after the date the Option has been sold, assigned or transferred by Tenant to a third party agreeing to be subject to the terms hereof, Tenant shall immediately be released from any and all liability under this Agreement, including the payment of any rental or other sums due, without any further action.
(e) During the Initial Option Term Period and any extension thereof, Tenant may exercise the Option by so notifying Landlord in writing. , at Landlord’s address in accordance with Section 12 hereof.
(c) If Tenant exercises the Option then Landlord leases the Premises to the Tenant Option, then, subject to the following terms and conditions of this Agreement. If Tenant does not exercise the Option during the Initial Option Term, or any extension thereof, this Agreement will terminate and the parties will have no further liability to each other.
(f) If during the Initial Option Term or any extension thereof, or during the term of this Agreement if the Option is exercisedconditions, Landlord decides hereby leases to subdivide, sell, or change Tenant the status use of the zoning of the Premises, Property or any of Landlord’s contiguous, adjoining or surrounding property (the “Surrounding Property,” which includes (without limitation) the remainder of the structure) or in the event of foreclosure, Landlord shall immediately notify Tenant in writing. Any sale that portion of the Property shall be subject sufficient for placement of the Antenna Facilities (as defined below), together with a non-exclusive easement for access and utilities, as generally described and depicted in the attached Exhibits B-1 and B-2 (collectively referred to Tenant’s rights under this Agreementhereinafter as the “Antenna Site”). The Antenna Site is located at 000 X. Xxxxxx Xxxxxx, Xxxxxxx, XX 00000, comprises approximately 625 square feet.
Appears in 1 contract
Samples: Communications Site Lease
Option to Lease. (a) Landlord hereby grants to Tenant an exclusive option (the "Option") to lease a portion of the Property consisting of measuring approximately Two Thousand and five Hundred (i) a room/cabinet/ground area space of approximately One thousand five hundred forty six (15462500) square feet approximately 70’ x 13.5’ including ("Leased Premises") on which Tenant plans to construct, maintain, operate, and lease space to third parties on, the air space above such room/cabinet/ground space and (ii) space Communications Facility, as generally depicted on the structure together site plan attached hereto as Exhibit B (the “Site Plan”). Landlord shall provide Tenant with the necessary easements for unrestricted access and utility ingress and egress from the nearest public right-of-way to the Leased Premises, such access and utility easements as are necessary to be reasonably acceptable to the Landlord. In consideration of Landlord granting Tenant the Option, Xxxxxx hereby agrees to pay Landlord the sum of One Thousand and 00/100 Dollars ($1,000.00) upon execution of this Agreement. The Option will be for an initial term of twelve (12) months (the antennas "Initial Option Term") and initial installation as described on attached Exhibit 1 may be renewed by Tenant for an additional six (collectively6) month period (a “Renewal Option Term”) and the payment of an additional Five Hundred and 00/100 Dollars ($500.00), by delivering written notice of such renewal (along with the additional payment) to Landlord no later than ten (10) days prior to the expiration date of the Initial Option Term. As used herein, the "Premises").
(b) “Option Term” shall mean the Initial Option Term and, if applicable, the Renewal Option Term. During the Option period Term, Tenant may exercise the Option by notifying Landlord in writing. Tenant shall not commence construction of the Communications Facility unless and any extension thereofuntil Tenant exercises the Option. During the Option Term, and during the term of this AgreementLease Term (as hereinafter defined), Tenant and its agents, engineers, surveyors and other representatives will have the right right: (i) at all reasonable times to enter upon the Property to inspect, examine, conduct soil borings, drainage testing, material sampling, radio frequency testing and other geological or engineering tests or other studies of the Property (collectively, the "Tests"), to apply for and obtain licenses, permits, approvals, or other relief required of or deemed necessary or appropriate at Tenant’s sole discretion for its use of the Premises and include without limitation applications for zoning variances, zoning ordinances, amendments, special use permits, and construction permits (collectively, the "Government Approvals"), initiate the ordering and/or scheduling of necessary utilities, and otherwise to do those things on or off the Property that, in the opinion of Tenant, are necessary in Tenant’s sole discretion to determine the physical condition any type of the Property, the environmental history of the Property, Landlord’s title to the Property and the feasibility or suitability of the Property for Tenant’s Permitted Use, all at Tenant’s expense. Tenant will not be liable to Landlord or any third party on account of any pre-existing defect or condition on or with respect to the Property, whether or not such defect or condition is disclosed by Tenant’s inspection. Tenant will restore the Property to its condition as it existed at the commencement of the Option Term (as defined below), reasonable wear and tear and casualty not caused by Tenant excepted. In addition, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all injury, loss, damage or claims arising directly out of Tenant’s Tests.
(c) In consideration of Landlord granting Tenant the Option, Tenant agrees to pay Landlord the sum of FIVE HUNDRED and No/100 Dollars ($500.00) within thirty (30) business days of the Effective Date. The Option will be for an initial term of one (1) year commencing on the Effective Date (the "Initial Option Term") and may be renewed by Tenant for an additional one (1) year upon written notification to Landlord and the payment of an additional FIVE HUNDRED and No/100 Dollars ($500.00) no later than ten (10) days prior to the expiration date of the Initial Option Term.
(d) The Option may be sold, assigned or transferred at any time by Tenant to Tenant’s parent company or member if Tenant is a limited liability company or any affiliate or subsidiary of, or partner in, Tenant or its parent company or member, or to any third party agreeing to be subject to the terms hereof. Otherwise, the Option may not be sold, assigned or transferred without the written consent of Landlord, such consent not to be unreasonably withheld, conditioned or delayed. From and after the date the Option has been sold, assigned or transferred by Tenant to a third party agreeing to be subject to the terms hereof, Tenant shall immediately be released from any and all liability under this Agreement, including the payment of any rental or other sums due, without any further action.
(e) During the Initial Option Term and any extension thereof, Tenant may exercise the Option by notifying Landlord in writing. If Tenant exercises the Option then Landlord leases the Premises to the Tenant subject to the terms and conditions of this Agreement. If Tenant does not exercise the Option during the Initial Option Term, or any extension thereof, this Agreement will terminate and the parties will have no further liability to each other.
(f) If during the Initial Option Term or any extension thereof, or during the term of this Agreement if the Option is exercised, Landlord decides to subdivide, sell, or change the status of the zoning of the Premises, Property or any of Landlord’s contiguous, adjoining or surrounding property (the “Surrounding Property,” which includes (without limitation) the remainder of the structure) or in the event of foreclosure, Landlord shall immediately notify Tenant in writing. Any sale of the Property shall be subject to Tenant’s rights under this Agreement.;
Appears in 1 contract
Samples: Master Marketing Agreement
Option to Lease. UPR hereby grants to Royal the sole and exclusive right and option, exercisable at any time and from time to time during the Initial Term or any Extension Period of this Restated Agreement, to enter into a mining lease covering portions of the Subject Property or to cause mining leases covering portions of the Subject Property to be executed and delivered to third parties nominated by Royal, upon the following terms and conditions:
(a) Landlord grants Royal shall describe and designate one or more Prospect Areas to Tenant an option (the "Option") to lease a portion UPR. Prospect Areas are defined as blocks of lands and interests comprising designated portions of the Subject Property consisting and lands and interests lying within one (1) mile, measured in all directions, from such designated portions of (i) a room/cabinet/ground area space of approximately One thousand five the Subject Property. No Prospect Area shall comprise more than one designated six hundred forty six (1546640) square feet approximately 70’ x 13.5’ including contiguous acre block of the air space above Subject Property and the lands and interests lying within one (1) mile, measured in all directions, from such room/cabinet/ground space and (ii) space on the structure together with such easements as are necessary for the antennas and initial installation as described on attached Exhibit 1 (collectively, the "Premises")designated block.
(b) During Royal shall demonstrate to UPR's reasonable satisfaction that it has made qualified work expenditures of at least Fifty Thousand Dollars ($50,000.00) within or for the Option period and any extension thereof, and during the term direct benefit of this Agreement, Tenant and its agents, engineers, surveyors and other representatives will have the right to enter upon the Property to inspect, examine, conduct soil borings, drainage testing, material sampling, radio frequency testing and other geological or engineering tests or studies of the Property (collectively, the "Tests"), to apply for and obtain licenses, permits, approvals, or other relief required of or deemed necessary or appropriate at Tenant’s sole discretion for its use of the Premises and include without limitation applications for zoning variances, zoning ordinances, amendments, special use permits, and construction permits (collectively, the "Government Approvals"), initiate the ordering and/or scheduling of necessary utilities, and otherwise to do those things on or off the Property that, in the opinion of Tenant, are necessary in Tenant’s sole discretion to determine the physical condition of the Property, the environmental history of the Property, Landlord’s title to the Property and the feasibility or suitability of the Property for Tenant’s Permitted Use, each such designated Prospect Area. Royal shall provide UPR with a summary statement detailing all at Tenant’s expense. Tenant will not be liable to Landlord or any third party on account of any pre-existing defect or condition on or with respect to the Property, whether or not such defect or condition is disclosed by Tenant’s inspection. Tenant will restore the Property to its condition as it existed at the commencement of the Option Term (as defined below), reasonable wear and tear and casualty not caused by Tenant excepted. In addition, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all injury, loss, damage or claims arising directly out of Tenant’s Testsqualified work expenditures.
(c) In consideration All mining leases issued hereunder covering precious metals shall be substantially in the form of Landlord granting Tenant Exhibit A attached hereto; and all mining leases issued hereunder covering diamondiferous minerals shall be substantially in the Optionform of Exhibit A attached hereto, Tenant agrees to pay Landlord with the sum presumption that the production royalty for a diamond lease shall be the greater of FIVE HUNDRED four percent (4%) of "Net Returns" or twelve percent (12%) of "Net Profits" derived from such property. Each such mining lease shall cover a maximum of six hundred forty (640) and No/100 Dollars a minimum of one hundred sixty ($500.00160) contiguous acres of Subject Property (full section or full quarter section or the aliquot equivalent thereof) within thirty (30) business days the designated Prospect Area. Royal's right to enter into mining leases or to cause mining leases covering diamonds or precious metals to be issued hereunder shall not be conditioned on Royal's prior discovery of commercial quantities of diamonds or precious metals in the portion of the Effective Date. The Option will be for an initial term of one (1) year commencing on the Effective Date (the "Initial Option Term") and may be renewed by Tenant for an additional one (1) year upon written notification to Landlord and the payment of an additional FIVE HUNDRED and No/100 Dollars ($500.00) no later than ten (10) days prior to the expiration date of the Initial Option Term.
(d) The Option may be sold, assigned or transferred at any time by Tenant to Tenant’s parent company or member if Tenant is a limited liability company or any affiliate or subsidiary of, or partner in, Tenant or its parent company or member, or to any third party agreeing Subject Property to be subject to the terms hereof. Otherwise, the Option may not be sold, assigned or transferred without the written consent of Landlord, covered by such consent not to be unreasonably withheld, conditioned or delayed. From and after the date the Option has been sold, assigned or transferred by Tenant to a third party agreeing to be subject to the terms hereof, Tenant shall immediately be released from any and all liability under this Agreement, including the payment of any rental or other sums due, without any further actionleases.
(e) During the Initial Option Term and any extension thereof, Tenant may exercise the Option by notifying Landlord in writing. If Tenant exercises the Option then Landlord leases the Premises to the Tenant subject to the terms and conditions of this Agreement. If Tenant does not exercise the Option during the Initial Option Term, or any extension thereof, this Agreement will terminate and the parties will have no further liability to each other.
(f) If during the Initial Option Term or any extension thereof, or during the term of this Agreement if the Option is exercised, Landlord decides to subdivide, sell, or change the status of the zoning of the Premises, Property or any of Landlord’s contiguous, adjoining or surrounding property (the “Surrounding Property,” which includes (without limitation) the remainder of the structure) or in the event of foreclosure, Landlord shall immediately notify Tenant in writing. Any sale of the Property shall be subject to Tenant’s rights under this Agreement.
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Option to Lease. ("Landlord"), and WWC License LLC, a
(a) In consideration of the payment of Dollars ($ ) (the "Option Fee") by Tenant to Landlord, Landlord hereby grants to Tenant an option (the "Option") to lease the use of a portion of the Property consisting of real property described in attached Exhibit A (i) a room/cabinet/ground area space of approximately One thousand five hundred forty six (1546) square feet approximately 70’ x 13.5’ including the air space above such room/cabinet/ground space and (ii) space “Property”), on the structure together with such easements as are necessary for terms and conditions set forth herein (the antennas and initial installation as described on attached Exhibit 1 (collectively, the "Premises"“Option”).
(b) During the Option period and any extension thereof, and during the term of this Agreement, Tenant and its agents, engineers, surveyors and other representatives will have the right to enter upon the Property to inspect, examine, conduct soil borings, drainage testing, material sampling, radio frequency testing and other geological or engineering tests or studies of the Property (collectively, the "Tests"), to apply for and obtain licenses, permits, approvals, or other relief required of or deemed necessary or appropriate at Tenant’s sole discretion for its use of the Premises and include without limitation applications for zoning variances, zoning ordinances, amendments, special use permits, and construction permits (collectively, the "Government Approvals"), initiate the ordering and/or scheduling of necessary utilities, and otherwise to do those things on or off the Property that, in the opinion of Tenant, are necessary in Tenant’s sole discretion to determine the physical condition of the Property, the environmental history of the Property, Landlord’s title to the Property and the feasibility or suitability of the Property for Tenant’s Permitted Use, all at Tenant’s expense. Tenant will not be liable to Landlord or any third party on account of any pre-existing defect or condition on or with respect to the Property, whether or not such defect or condition is disclosed by Tenant’s inspection. Tenant will restore the Property to its condition as it existed at the commencement of the Option Term (as defined below), reasonable wear and tear and casualty not caused by Tenant excepted. In addition, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all injury, loss, damage or claims arising directly out of Tenant’s Tests.
(c) In consideration of Landlord granting Tenant the Option, Tenant agrees to pay Landlord the sum of FIVE HUNDRED and No/100 Dollars ($500.00) within thirty (30) business days of the Effective Date. The Option will shall be for an initial term of one (1) year 12 months, commencing on the Effective Date date hereof and ending , 200 (the "Initial “Option Term") and Period”). The Option Period may be renewed extended by Tenant for an additional one (1) year 12 months upon written notification notice to Landlord and the payment of an additional FIVE HUNDRED and No/100 the sum of Dollars ($500.00$ ) no later than ten (10"Additional Option Fee") days at any time prior to the expiration date end of the Initial Option TermPeriod.
(db) The Option may Xxxxxxxx agrees to cooperate with and to allow Xxxxxx, at no cost to Landlord, to obtain a title report, perform surveys, soil tests, and other engineering procedures or environmental investigations on, under and over the Property, necessary to determine that Tenant's use of the Premises will be sold, assigned or transferred at any time by Tenant to compatible with Tenant’s parent company or member if Tenant is a limited liability company or any affiliate or subsidiary ofengineering specifications, or partner insystem design, Tenant or its parent company or member, or to any third party agreeing to be subject to the terms hereofoperations and Governmental Approvals. Otherwise, During the Option may not be sold, assigned or transferred without the written consent of Landlord, such consent not to be unreasonably withheld, conditioned or delayed. From and after the date the Option has been sold, assigned or transferred by Tenant to a third party agreeing to be subject to the terms hereof, Tenant shall immediately be released from any and all liability under this Agreement, including the payment of any rental or other sums due, without any further action.
(e) During the Initial Option Term Period and any extension thereofextension, Tenant may exercise the Option by notifying Landlord in writing. , at Xxxxxxxx's address in accordance with Section 12 herein.
(c) If Tenant exercises the Option then Landlord leases the Premises to the Tenant Option, then, subject to the following terms and conditions of this Agreement. If Tenant does not exercise the Option during the Initial Option Term, or any extension thereof, this Agreement will terminate and the parties will have no further liability to each other.
(f) If during the Initial Option Term or any extension thereof, or during the term of this Agreement if the Option is exercisedconditions, Landlord decides hereby leases to subdivide, sell, or change the status of the zoning of the Premises, Property or any of Landlord’s contiguous, adjoining or surrounding property Tenant (the “Surrounding Property,” which includes (without limitationLease”) the remainder use of the structure) or in the event of foreclosure, Landlord shall immediately notify Tenant in writing. Any sale that certain portion of the Property shall be subject sufficient for placement of Antenna Facilities (as defined below), together with all necessary space and easements for access and utilities, as generally described and depicted in attached Exhibit B (collectively referred to Tenant’s rights under this Agreement.hereinafter as the “Premises”). The Premises, located at (street and address), approximately square feet. (city, county, and state), comprise
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Samples: Site Lease With Option Agreement