2022.06.14 CC Packet - Complete - Laserfiche WebLink

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Site ID: MS73XC631 Lease ID: MS73XC631-A-001 Lessor ID: Silver Lake Road, New Brighton, MN – Water Tank Page 1 of 5 LEASE TERMINATION AGREEMENT This Lease Termination Agreement (this “Agreement”) is effective on the date of the last signature on the Agreement (the “Effective Date”) regarding the Tower Lease Agreement dated October 4, 1996, as may have been amended, for the Property located at 700 Silver Lake Road in New Brighton Minnesota (the “Property”) between The City of New Brighton (“Lessor”) and Sprint Spectrum LLC., a Delaware limited liability company, as successor in interest to Sprint Spectrum Realty Company L.P., a Delaware limited partnership (“Lessee”). Each of the Lessor and Lessee may be referred to as a “Party” and collectively the two may be referred to as the “Parties”. Lessor and Lessee agree to (i) terminate the lease, and (ii) provide for the surrender of the premises and transfer ownership of the leasehold improvements made to the Property by Lessee and to the terms and conditions described below: 1. Incorporation a) Incorporation. This Agreement is incorporated into and forms a part of the Lease described above. In the event of any inconsistencies between the Lease and this Agreement, the relevant term contained in this Agreement shall control. b) Previous Notice. Lessee and Lessor agree to extend the Termination Date/Lease Expiration Date of December 31, 2021 to a date beyond the date specified in the termination notice previously sent by Lessee. This date will be the new Lease Termination Date as defined in Section 2. 2. Termination and Mutual Release a) Lease Termination and Mutual Release. The Parties agree that the Lessee occupancy created by the Lease Termination effective December 31, 2021 will terminate on the later of April 30, 2022 or the last day of the month in which Lessee completes Lessee’s Surrender Work which shall include making the payment as required by paragraph 3(c) herein (the “Lease Termination Date”), and the Parties agree that: (i) The Lease is automatically terminated. Each Party will execute any documentation required to evidence this transaction; (ii) Lessor agrees that all amounts owed through the Effective Date have been paid by Lessee. Lessee agrees to pay Lessor for any utility payments attributable to Lessee’s use through the Lease Termination Date;