1997 007 Ordinance - Laserfiche WebLink

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• Tower Lease Agreement between Tenants as landlord, and GTE, as tenant, ("GTE Tower Lease"); and" 2. Paragraph h titled RENTAL is hereby deleted in its entirety and iii lieu thereof is hereby substituted the following new paragraph 4: "RENTAL 4. 11. IN `I'lIE EVENT TENANT IS THE ONLY LESSEE/OPERATOR ON 'I'liE TOWLR RENT Sl-IALL BE AS FOLLOWS (i) For the first five (5) years of the initial thirty-five (35) year Term of this Lease, the total minimum rent shall be Sixty Thousand Dollars ($60,000.00), which sum shall be paid by Tenant to Landlord i.n five (5) equal year.l.y i.nst~~l..l.ments ..~ of Twelve Thousand Dollars ($12,000.00) each. `I'enr3nt's obliya- tion to pay the first yearly installment of rent shall commence as of the Commencement Date of this Lease, and the annual. in- stallment of rent due and payable thereafter shall. be made on the successive four (4) annual anniversaries thereof. (a) Five Thousand Dollars ($5,000,00) has been paid by_Tenant to Landlord, receipt of which is hereby acknowledged by Landlord. This payment is non-refundable, but has been applied as a credit on Tenant's behalf ayainst the first annual installment of rent due and owing by Tenant on the Com- mencement Date hereof. (ii) For the second five (5) years of the Term of this Lease, the total minimum rent shall.be Seventy-`Pwo•Thousand Dollars ($72,000.00), which ;~tim shall.be paid by Tenant to Landlord in five (5) equal yearly installments of Fourteen Thousand Four Ifundred Dol].~rs ($1q,400.00) each. Tenant's abiigation to pay the ycar.l.y installment of rent shall commence on the filth (5th) anniversary date of the Commencement Date of this Lease, and the annual rent shall be due and payable thereaf- ter on each of the successive"four (4) anniversaries thereof. 2.