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Agenda - 06-18-2024; 8-q - Lease of Property to TowerCo to Build a Communications Tower
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Agenda - 06-18-2024; 8-q - Lease of Property to TowerCo to Build a Communications Tower
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BOCC
Date
6/18/2024
Meeting Type
Business
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Agenda
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8-q
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10 <br /> If to Lessee, to: <br /> TowerCo 2013 LLC <br /> 5000 Valleystone Drive <br /> Cary,North Carolina 27519 <br /> Attn: Property Management <br /> Site ID #: NC0326 <br /> 17. Quiet Enjoy. Lessor covenants that it shall comply with all applicable laws, <br /> regulations and requirements related to the Premises and that Lessee shall have the quiet enjoyment <br /> of the Premises during the term of this Lease. Lessor shall indemnify Lessee from and against any <br /> loss, cost, expense or damage including attorneys' fees associated with a breach of the foregoing <br /> covenants. In the event that Lessor fails to keep the Premises free and clear of any liens and <br /> encumbrances, Lessee shall have the right but not the obligation to satisfy such lien or <br /> encumbrance and deduct the full amount paid by Lessee on Lessor's behalf from future <br /> installments of Rent. Lessor agrees to indemnify and hold harmless Lessee from any and all claims <br /> and/or notices of non-compliance brought against Lessor for any breach by Lessor of this warranty, <br /> and Lessor agrees to allow Lessee to continue to quietly enjoy the use of Lessor's Premises while <br /> Lessor remedies any such non-compliance. Should Lessee's use of the Premises become <br /> compromised due to any breach of the warranty and covenants contained in this paragraph,Lessor <br /> acknowledges that Lessee shall be substantially harmed and Lessee will seek to recover from <br /> Lessor any damages Lessee may sustain. <br /> 18. Occurrence of Lessor Default. The covenants,representations and conditions in this Lease <br /> are mutual and dependent. Upon the occurrence of any breach or nonperformance of any <br /> representation, warranty, covenant, agreement or undertaking made by Lessor in this Lease <br /> ("Default"), Lessee shall have the option to pursue any one or more of the following remedies <br /> without notice or demand: (a) Lessee, may, at its sole election, terminate the Lease; (b) Lessee, <br /> may,without being obligated and without waiving the Default,cure the Default,whereupon Lessor <br /> shall pay to Lessee, upon demand, all costs expenses, and disbursements incurred by Lessee to <br /> cure the Default. Lessee shall be permitted to offset said costs, expenses and disbursements <br /> incurred by Lessee against Rent or any other amounts due or becoming due by Lessee to Lessor <br /> under this Lease; or (c) Lessee shall be entitled to pursue any and all other rights or remedies <br /> available at law or equity, including specific performance of this Lease, with respect to Lessor's <br /> default. <br /> 19. Assignment. Lessee may assign this lease without the consent of Lessor to an affiliate or <br /> subsidiary of Lessee or to any successor in interest through a merger where Lessee is not the surviving <br /> entity or where Lessee is fully merged into a third party entity. As to all other parties, Lessee may assign <br /> this Lease only with the consent of Lessor, which shall not be unreasonably withheld, conditioned or <br /> delayed. From and after the date this Lease has been sold, assigned or transferred by Lessee to a <br /> third parry agreeing to be subject to the terms hereof, Lessee shall immediately be released from <br /> any and all liability under this Lease, including the payment of any rental or other sums due, <br /> without any further action. <br /> 6 <br /> TowerCo Site Name:Kenion Road <br /> TowerCo Site Number:NC0326 <br />
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