S Lease Agreement between Orange County and American Towers LLC

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Site Name:Phelps NC Site Number: 280138 (h) Option Consideration(Initial Option Period):Two Thousand Dollars($2,000.00) (i) Option Extension Consideration (Renewal Option Period(s)):$500.00 0) Commencement Date: The date specified in the written notice by American Tower to Landlord exercising the Option constitutes the Commencement Date of the Term. (k) Initial Term: Nine years, commencing on the Commencement Date and continuing until midnight of the day immediately prior to the ninth anniversary of the Commencement Date. (1) Renewal Terms. Each of the six(6) successive periods of five years each, with the first Renewal Term commencing upon the expiration of the Initial Term and each subsequent Renewal Term commencing upon the expiration of the immediately preceding Renewal Term. (m) Term: The Initial Term with any and all Renewal Terms (n) Rent: The monthly amount of One Thousand Eight Hundred Dollars($1,800.00). (o) Increase Amount: Rent will increase annually by an amount equal to 3%of Rent for the previous one year period. (p) Increase Date: The first day following each anniversary of the Commencement Date. 2. Option to Lease. (a) Grant of Option. Landlord hereby gives and grants to American Tower and its assigns, an exclusive and irrevocable option to lease the Site during the Initial Option Period(the"Option"). (b) Extension of Option. The Initial Option Period will automatically be extended for each Renewal Option Period unless American Tower provides Landlord written notice of its intent not to extend the Option. (c) Consideration for Option.. Option Consideration is due and payable in full within 30 days of the Execution Date and American Tower will pay Landlord any Option Extension Consideration within 30 days of the commencement of any Renewal Option Period. (d) Option Period Inspections and Investi atg ions; (i) During the Option Period, Landlord will provide American Tower with any keys or access codes necessary for access to the Property. (ii) During the Option Period, American Tower and its officers, agents, employees, and independent contractors may enter upon the Property to perform or cause to be performed test borings of the soil, environmental audits, engineering studies and to conduct a metes and bounds survey of the Site and/or the Property (the "Survey"), provided that American Tower will not unreasonably interfere with Landlord's use of the Property in conducting these activities. At American Tower's discretion, the legal description of the Site as shown on the Survey may replace Exhibit B of this Agreement and be added as Exhibit B of the Memorandum of Lease. (iii) American Tower may not begin any construction activities on the Site during the Option Period other than those activities described in,or related to,this paragraph 2(d). {SKOI I162.DOCX 2 12