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2023-080 Resolution
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2023-080 Resolution
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8/17/2023 3:38:55 PM
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8/17/2023 3:25:05 PM
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North Olmsted Legislation
Legislation Number
2023-080
Legislation Date
8/15/2023
Year
2023
Legislation Title
Fourth Amendment to Option and Ground Lease at Recreation Center
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maintain access to the Easement in a free and open condition so that no interference is caused to <br />Lessee by other lessees, licensees, invitees cr agents of the Lessor which may utilize the Easement. <br />15. Termination. Except as otherwise provided herein, this Lease may be terminated, <br />without any penalty or further liability upon written notice as follows: <br />(a) By either party upon a default of any covenant or term hereof by the other <br />party which default is not cured within sixty (60) days of receipt of written notice of default (without, <br />however, limiting any other rights available to the parties pursuant to any other provisions hereof); <br />provided, that if the defaulting party commences good faith efforts to cure the default within such <br />period the cure period may be extended upon mutual agreement, in writing, of the parties hereto; <br />(b) Upon thirty (30) days' written notice by Lessee to Lessor if (i) Lessee is <br />unable to obtain or maintain any license, permit or other Governmental Approval necessary for the <br />construction and operation of the Improvements or Lessee's business, or (ii) Lessee's Intended Use of <br />the Premises is actually or constructively interfered with or technological obsolescence; or (iii) <br />Lessee's suffers loss of tenancy due to bankruptcy rendering financial performance impossible; and <br />Notwithstanding termination, the Lessee shall continue to pay Rents pending removal of the <br />Improvements, which removal shall occur within 180 days at Lessee's expense. <br />16. Subleases. Lessee at its sole discretion shall have the right, without the consent of or <br />notice to Lessor, to license, sublease or otherwise allow the occupancy of all or a portion of the <br />Premises and the Improvements. If Lessee licenses or subleases a portion of the Premises to a third <br />party for the purpose of sending and receiving telecommunications signals (each such grant a <br />"Sublease") then Lessee agrees to pay to Lessor, as additional rent, an amount equal to Eight Hundred <br />and No/100 Dollars ($800.00) per month ("Co -Location Rent") under the following conditions: (i) <br />Lessee shall only be required to pay the Co -Location Rent where the Sublease is with a major wireless <br />carrier (such w Verizon, AT&T, Sprint or T -Mobile); and (ii) Lessee shall not be required to pay <br />Lessor the Co -Location Rent for the first or initial Sublease ("Anchor Tenant').- In the event the <br />Anchor Tenant vacates the Premises, Lessee shall have the right to substitute the Anchor Tenant with <br />an existing sublessee or licensee who shall become the new Anchor Tenant The Cc -Location Rent <br />for each such Sublease shall commence beginning on the first day of the month following the <br />commencement date of each Sublease and continue through the term of that respective Sublease. That <br />portion of the Rent attributable to the Co -Location Rent shall terminate on the date each Sublease <br />terminates or expires, whichever is earlier, and Rent thereafter shall be reduced by an amount equal to <br />the Co -Location Rent for each such Sublease as of the date of such expiration or termination. Lessee <br />shall have sole discretion as to whether, and on what terms, to enter into, amend or terminate any such <br />Sublease, and there shall be no express or implied obligation of Lessee to do so nor is Lessor a third <br />party beneficiary of any Sublease. Lessee's licensee(s) and sublessee(s) shall be entitled to modify the <br />tower and Improvements, and erect and install additional improvements and personal property on the <br />Premises and Improvements, subject to compliance with zoning review and approval, as well as <br />issuance of building code permits, as necessary, including but not limited to antennas, dishes, <br />cabling, utilities, emergency or back up power, generators, and equipment shelters. Lessee's <br />licensce(s) and sublessee(s) shall be entitled to all rights of ingress and egress to the Premises, the <br />right to install utilities on the Premises and the right to use the Premises for the Intended Use as if said <br />licensee or sublessee were the Lessee under this Lease. <br />T..Co Si. Name: N OlmrRd R. <br />Tows OSite Nm t,a: OR039I <br />
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