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HomeMy WebLinkAboutContract No. 2015-2687.05FIRST AMENDMENT TO SITE LEASE AGREEiMENT THIS FIRST AMENDMENT 'TO, SITE LEASE AGREEMENT (the "First Amendment") is made this ;4clay of Se0. 2015 by and between Columbia. Heights Economic Development Authority, a public body corporate and politic and political subdivision of the State of Minnesota, as the lessor, whose address is 590 40' politic NE, Columbia Heights, MN 55421 (hereinafter referred to as "Landlord"), and T-Mobile Central LLC, a Delaware limited liability company, whose address is 12920 SE 38'h Street, Bellevue, WA 98006, as successor in interest to APT Minneapolis, Inc. (hereinafter referred, to as "Tenant"'), RECITALS WHEREAS, Landlord and `tenant are pat-ties to a Site [,ease Agreement, dated December 4, 1.996 (the "Lease") whereby Landlord has leased to Tenant and Tenant has leased from Landlord approximately 250 square feet of rooftop space (the "Leased Premises") on a certain building located at 965 40"' Avenue NE, Columbia Heights, Minnesota, legally described in Exhibit A attached hereto (the "Prope rty"); WHEREAS, the Lease provides for an Initial Terra commencing on approximately January 1, 1.997 and expiring December 31, 2001, with rent commencing at $12,000 for the initial year and increased each year by the greater of (i) 4% of the previous year's annualized rent, or (ii) an arnount equal to the increase in the Consumer Price Index afl as more fully described in paragraph 2 of the Lease, subject to three (3) Renewal Terms of five (5) years each at a rental rate for each Renewal Tenn consistent with the terms of the Initial Tear; WHEREAS, Teriant, exercised its right to extend the Initial Term of the Lease for each of the three Renewal Terms; WHEREAS, Landlord and Tenant desire to extend the Terris of the Lease filar all additional 11 -year renewal term froin January 1, 2017 through December 31, 2027 (the Additional Renewal Term"); WHEREAS, Landlord and 'Tenant have agreed on a, rental rate for such Additional Renewal Tear,; arid WHEREAS, Landlord intends to convey fee title to the Property to Aeon, a Minnesota nonprofit corporation (or its successor or assign, as applicable, being hereafter referred to as Property Owner") and will be granted a non-exclusive casement (the "Easement") to the Leased Premises for a period equal to the Additional Renewal 'Fenn, along with certain rights of ingress and egress thereto through the Property, subject to Property Owner's reasonable security requirements and the rights of tenants at the Property, Z: NOW, TtIEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, Landlord and Tenant hereby amend the Lease as follows: 46-7.)l 10 MNI C'L 1 60-82 I . Additional Renewal 'Ferm. The 1. ease is hereby extended for the Additional Renewal Term, which shall run fron') January 1, 2017 through December 31, 2027. 2. Additional Extensions. A. The parties acknowledge that upon the expiration or earlier termination of the Additional Renewal Terrn, the Easement will expire and, as a result, Landlord will no longer have the right to occupy the Property for the purposes of providing Tenant its rights under the case. Accordingly, the following extension provisions are subject to the Owner Approval (as hereafter defined) and, in connection therewith, Property Owner's consent to its replacement of Landlord as the landlord under the Lease, 13. The parties further agree that Tenant shall have the option to request extensions of the Lease for two (2) additional, five-year Renewal Terrns commencing, respectively, on January 1, 2028 and January 1, 2033, by providing Property Owner written notice of Tenant's request for renewal (the "Renewal Request") at least eighteen (18) rnonths prior to the expiration of the Additional Renewal. Term or the first subsequent Renewal Term thereafter, Property Owner may approve or reject Tenant's Renewal Request in writing within 60 days after Property Owner's receipt of the Renewal Request for any reason or for no reason whatsoever, provided, however, any failure of Property Owner to respond to a Renewal Request shall be deerned a rejection of the Renewal Request. property Owner's acceptance of a. Renewal Request is referred to as an "Owner Approval." If Property Owner does not provide its Owner Approval in response to a Renewal Request, the Lease shall terminate in accordance with the terms upon the scheduled termination of the then-current term, If a Renewal Request for the first Renewal. Term is either not delivered or rejected, the second subsequent Renewal Term will be void, 3. Rent for Additional Renewal Terin, The rent for the Additional Renewal Terris and any subsequent Renewal Term shall continue without interruption; provided that the rent shall be increased each year on January I by 3% of the previous year's annualized rent. After the termination of the Additional Renewal. Term, if the Lease is extended as provided herein, rent shall be payable to Property Owner at the address provided in Section 6 below. 4. Lease of Landlord's Interest in Easement, Landlord and Tenant agree that the Lease is a lease only of Landlord's interest in the Leased Premises during the Additional Renewal Term. Landlord and Tenant agree that, for the Additional Renewal Term, Property Owner is a third party beneficiary under the Lease, as modified hereby, and has the right to directly enforce all of the duties and obligations of Tenant under the Lease if Landlord falls to do so within the time periods required. under the Lease. Upon any extension after the Additional Renewal Term, Property Owner will become the landlord under the Lease and, accordingly, a direct beneficiary,, obligee, and obligor thereunder. Landlord and Tenant agree that all rights of' Property Owner under this First Amendment shall. inure to the benefit of its successors in title to the Property. Further, Tenant agrees that it shall name Property Owner as an additional insured under the applicable liability insurance which Tenant is required to maintain under the Lease. Landlord and Tenant agree that all warranties and indemnities set forth in the Lease shall inure to the benefit of Property Owner and that each of Landlord and Tenant will exercise its rights under 4629 h I NIN I CL 160--82 2 the Lease in such a manner so as to not Injure, or damage the property of Ownerwr or itsZ7 tenants and so as to comply with Property Owner's reasonable security and other rules respecting the Property so as to not interfere with the right of quiet enjoyment of the tenants at the Property. 5. Recitals. 'rhe Recitals provisions are incorporated herein by this reference, 6. Notice and Cure. Tenant agrees to give Property Owner written notice of any defaults by Landlord under the Lease and an opportunity, at Property Owner's option, to cause the cure of such default within the cure periods set forth in the I-ease, prior to exercising any remedies under the Lease. All notices to Property Owner shall be sent in accordance with the procedures for delivering notice under the Lease as follows- Parkview Limited Partnership Attn: Eric Schnell, Chief Operating Officer 901 North Third Street, Suite 150 Minneapolis, MN 55401 or to such alteniate address or attention as Property Owner shall notify Tenant and Landlord iii writing pursuant thereto. T Liens and Claims. Each of Landlord and 'Tenant, agrees that it will not cause or permit any mechanic's or materialtricii's liens or claims to be filed against the Property, or any part thereof, including, without limitation, the Leased Premises and shall indemnify Property Owner and its partners, and hold them harmless, Frorn and against any and all mechanic's or materialmen's liens or claims or any other claims, whether third party claims or otherwise, arising from the Lease or the actions or omissions of Landlord or'l-enant thereunder, 8, Easement Atyreernent, Tenant acknowledges that the Easement will be 7,anted pursuant to a certain Easement Agreement between Landlord and Property Owner to be recorded in the Anoka County real estate records upon conveyance of fee title to the Property to Property Owner (or its successor or assign) (the "Easement Agreement"), and agrees that Tenant's operations under the Lease, as amended hereby, will be in accordance with the recorded Easement Agreement and that, to the extent the Easement Agreement conflicts with the Lease the Easement Agreement will control. During the Additional Renewal, Term, and. notwithstanding anything to the contrary in the Lease, Easement Agreement or this First Amendment, (i) Landlord shall be solely responsible for performing all duties and obligations of Landlord under the Lease, and (ii) except as otherwise expressly provided herein, Tenant shall communicate solely with Landlord, and not Property Owner, with respect to all matters relating to the Lease and Tenant's use of the Leased Premises. 9, No Other Ehanyes. Except as specifically provided herein, the Lease remains Unchanged and in full force and effect. Capitalized tennis not otherwise defined in this First Amendment shall have the meanings ascribed to them in the Lease, 462511vi MNICLA00-82 IN WITNESS WHEREOF the undersigned have executed this instrument the day and year first referenced above. STATE OF MINNESOTA COUNTY OF ANOKA IRMO Byt- Its Presi M Z, By: Its Executive Director ECON TENANT: 'r-mOBILE CENTRAL LLC B y: STATE OF COUNTY OF,J g,, The foregoing instrument was acknowledged before me this 16 day of 2015 by J& I ethefT-Mobilee C ntr LLC, a. Delaware limited liability company, on behalf of the company, JOHN JOSEPH MCDONALD Notary PuVc NOTARY PUBLIC - MINNESOTA MY COMMIS&ON EXPIRES 01131119 462511 v I MN I CL160-82 4 UNIIIIHI Deseription, cif the Property Tenant's leasehold interest in. Landlord's easement rights granted in the following described property, pursuant to Easement Agreement recorded as Document No, in the land records of Anoka County, Minnesota: Tract A: That part of the South 1/2 of Lot 13, lying Northwesterly of the following line: Beginning at the Northeast corner of the South 1/2 of' Lot I); thence SOLIth,Westerly to a point on the South line of said Lot 13, said point being 2 feet Easterly of the Southwest Comets of Lot 1. 3; the South 241 feel of Lot 14; then south 1/22 of Lot 15; Lot 39 except the West 30 feet thereof, Lots 40, 41, 42 and 43 and the West 1/2 of Lot 44, all in Block 5 Reservoir Hills, Columbia Heights, Anoka County, Minnesota Abstract) Tract B The East 40 feet of the South 1/2 of Lot 16, Block 5. Reservoir Hills, Colurnbia, heights, Anoka County, Minnesota. Torrens) US 58-552669 08