RCA Telecom LLC 8/28/2020 - Laserfiche WebLink

Option Notice, Lessee shall retain an MAI appraiser who shall render a written appraisal of the fair market rental of the leased premises. A copy of Lessee's appraisal shall be given to Lessor within sixty (60) days after giving of the Option Notice. Lessor and Lessee shall then negotiate regarding the fair market rental of the leased Site. If Lessor and Lessee are unable to reach an agreement as to the fair market rental of the leased Site within thirty(30) days of the receipt of Lessee's appraisal by Lessor, Lessor shall retain an MAI appraiser who shall render a written appraisal of the fair market rental of the leased premises as of the date of such appraisal. A copy of the appraisal made by Lessor's MAI appraiser shall be given to Lessee within one hundred twenty(120) days of the receipt of Lessee's appraisal by Lessor. If Lessor and Lessee are unable to reach an agreement as to the fair market value of the leased Site within thirty(30) days of the receipt of Lessor's appraisal by Lessee, the MAI appraisers previously retained by Lessor and Lessee shall choose a third MAI appraiser with knowledge of properties in Snohomish County, Washington. If the appraisers chosen by Lessor and Lessee cannot agree upon the selection of the third MAI appraiser within twenty (20) days after being requested to do so, the third appraiser shall be designated by the Presiding Judge of the Snohomish County Superior Court on application of either party upon ten(10)days notice to the other. The three (3) MAI appraisers shall fix and determine by majority vote the fair market rental of the leased premises as of the date of their appraisal. The decision of the appraisers shall be final and binding on the parties. Under no circumstance, however,shall the base monthly rent for any Option Term be less than the monthly rental rate existing at the end of the preceding term. In the event either Lessor or Lessee does not agree with the decision of the appraisers regarding the fair market rental,either party may terminate this Lease upon thirty (30) days written notice. Notwithstanding the foregoing, during the period of this MAI appraisal process where the Rental fee is not yet agreed upon by the parties but the applicable Option Term has begun, Lessee shall continue to pay the monthly rental rate existing at the end of the preceding term,and shall then promptly"true up" any additionally required rental fees at the conclusion of the appraisal process. This option may be exercised by Lessee only in the event that all rents have been fully paid and all provisions of this Lease on the part of Lessee to be observed by Lessee have been fully and faithfully observed. A new lease agreement for the Option Terms shall be unnecessary, as this Lease constitutes a present demise for both the Initial Term and the Option Terms. 6. ENGINEERING STANDARD AND PRACTICES: Lessor shall have engineering supervision over all equipment located on the property. Such supervision shall include: a) Frequency coordination and acceptability; b) Engineering specifications; c) Establishment of standards and practices consistent with and necessary for the avoidance or elimination of interference; and d) Acceptability of equipment, including radio transmitters and protective devices; and any decision on any of the foregoing matters by the Lessor shall be binding upon the Lessee. Lessor will furnish Lessee with the reasons for any of its decisions in this matter. Any interference caused by radio or television transmitting and/or receiving equipment to existing licensees shall be corrected and eliminated immediately by the party and/or parties causing the interference. 7. LEASE TAX:The possessory interest of Lessee in the property herein leased is subject to taxation under the laws of the State of Washington(Ch.61, 1975-1976 Laws,2d Ex.Sess.,as amended)at the present rate of twelve point eighty-four percent(12.84%),or as may be amended by Washington State legislation,of the taxable rent to be paid to the Lessor monthly under the terms of this Lease. This tax is in addition to the monthly rent required above. Lessee agrees to pay and the Lessor agrees to collect and pay over to the State Department of Revenue the aforesaid leasehold excise tax in accordance with the statutes governing it. Page 4 of 16