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��'I�N AND LE ASE AGREENiENT
<br />FOR TELECOM11�iUNTCA'�IOI'�I5 SITE
<br />, T'r{LS CP7T0(V A`D LF,�c �GRE'c1�IENi' ("qgzeement7 is
<br />encerrd into as of the � day of 349„ bv and
<br />brt�veen jack �nd Dcnna J. Sheeler, Ku.�band and � Wife
<br />('Landlord'l, and G:� ttiue!ess. of the Pan(sc [ncar�or�ted., a
<br />Celaware cor�oraticn �'TrnanC). Iandlord and Ter�nt agm u
<br />rolloxs:
<br />This �greement pro��des� (1) an Option to tease certain
<br />proFem in favar of the Tan�nt, and (2) tetms and mnditio�ts oF the
<br />Cea3e rreutting from the exercise o! the Optsan. ?aragraghs 2
<br />thrcagh 2l shall applv �.ithout lirniacion during the term oE the
<br />Lraie in �he evrnt the Option is exercisrd. G�ring the OpNon
<br />Period Ihe following paragrapiu only shall he operacive: L{'Qptien'�,
<br />h('�lccess and �tility Easemenu"), i("Insurance"), 8
<br />{—iermination'), 10 ("Sun•ev7, 13 ('assignment! SubletHng'), 1�
<br />i"Coasent and Approcats'), IS ('Debr Secunry'}, 16 {'Environmentsl
<br />Laws"), 1� ('Yoticr"}, i8 ("Non•bisciosure'�, 14 ('Indemnity7, 20
<br />('tiiemarandum of Agreement/SUD,�� and 21 j'1�iiscellaneous�.
<br />1. �,I; in constderation o( the recaipt of.;
<br />,s "Qption �tonev'�. dnd su
<br />con inoru sei o e"szui, Landlord turrby graats co Tesunt an
<br />opncn (�Opdon } to 3ease a portian of real property owned by
<br />L.�ndlord. tivhith propem• is Iocated at :�:Q 39th Street, Everett,
<br />�Vash�ngton, and has a tax garcel ID number of 3:6Q-032-�Q�I1-00.
<br />Tiie property subjai to this�Cption t'"Laasa Psemises") is described
<br />and depicted un Exhibit a', which is attached hereto and
<br />incorporated into this �igreement. The Leased Pramises carutitute a
<br />portion of real propeRy awned fn• the tandfo�d ("Landlord's
<br />Pragenv') which is described and depitted in Exhibit "H", attached
<br />heteto and incorporated into this �lgreement. The Option is For the
<br />purpase of allowing the Ten�nt a suitable period of time to
<br />detertnine the ieuibilitv of constructing and operatit�g a
<br />telecommwicalloru Eacilitr an the Leased Premises. Ihe Option
<br />stvll t�ist (o� a Feria! ot six (b) months ("OpHon Period'�
<br />cammencing on the Date of' E�cer�tion of this �gresment. The Date
<br />of Execution is �feemed ro be the d�te upon whi<h the last party to
<br />this .agteement has signed it. The Tenant has the ri ht to exte�
<br />the Cotion Pericd fo� �c (6) months by pa�ing
<br />Landlord {",�dditiona
<br />pnor ro,rxp�r ' e �ion Periad. Dunng the Option Period,
<br />Tenant and i�s contractors shalt hati•e the right of aarss to enter
<br />upon the Candlord's Fropecty and le�sed Prem�ses to conduct, at
<br />Tenants expensr, such �urver•s, t¢sts �nd in�estigaeons u ara
<br />necessary to enablQ Tenant to determine whethes it daim to
<br />exercise the �cion. if the Tenant daes nat txercisr the Opcian, aay
<br />monev paid to i.artdlord shall be ret�ined by the E.andlord in (uq
<br />accard md satufaciion of all cbligations oF the ?enant hereunder
<br />and neithe: party shall have any further cbtiptsosti to Ihe other
<br />under ;he Agreement !n addiHon, the Ltue a provided for
<br />hrreunde� sh�ll be ca�idered to be o( no lorct and e(hcs without
<br />further action bp either party.
<br />z. ��3u c� F�st•
<br />�) Ini '�i T•.-��y, In the event Tenant exPrclst� t�+e Option,
<br />the Inirial Terrn oi the resu3ring Lease sha11 De tor a period of
<br />tive {5) yean, commenang upon writtm natiAndcn by 7snant
<br />ro Landtord ('Commmcemmt D�te'). Subject to the
<br />automatic cmewal pcnvisi�u in Subpangraph 2(b) beIaw, the
<br />Lrax sha11 tenninate one day before th� fihh (Sth} annwl
<br />u�niversary af the Commencement Date ("Ltitiai Tesrn7.
<br />TenanYs obligaticn to pay Re�su sr�ll begin an the
<br />Cnmmencat�mt Datt.
<br />1I/ 121 g7
<br />. . _ �(.
<br />b)• Ex!rnded �erm<. Tenani s1vLl have the nght to extend
<br />the inirial ierm for Five {5} additional periods of f�ve (5) y�ean
<br />each {'�xtended Terms'} on the s�me terms and conditioru as
<br />srt forth herein, except for �n adjustment in Renc Extesuioru
<br />shaU be automatic unless Tenant gives written noticr to
<br />C.�ndlord of its mcent not to extend the Lease. Votice shali be
<br />provided not less than thirrr t30? davs prtar to the expiraaon oF
<br />the then current Term.
<br />c1 Holdin� (?var. It, aiter the end of the last Extended
<br />7arm, Tenant remains in gessessivn of the Leased Premisrs �
<br />without exrcuting a new Le�se, the Tenant siull become a
<br />Ter+ant on a month-ta-month basis on the same terms and
<br /><onditioru of this Lease. 7ecunt �h�11 pay monthly Resu in the
<br />amount which was payabie during the immediate(y preceding
<br />month.
<br />3. Sf;�; Duri„g the�In' ' i, ����
<br />an annual s_ of� I �
<br />� 'Re " " thly installments o�'
<br />oa the First day a t'ach
<br />m at the a � esignat u� Paragnph 1�. If tha
<br />tammencement Date i� a day other than the fini day oF � month.
<br />the Rent for that manth shall be prorated. C'pon the
<br />commencrmen� of each Extended Term, the �nnual Rent iar each
<br />Extended Tertn shaU incrnase by Cftr_n percent (15�) over the
<br />annual rent paid for the immediately preced'usg Term. Rent tor rach
<br />Extended Term shall be payable io equat monthty instaltrnenn in
<br />ad�•�nca on the first day of each monih.
<br />i. TIi'LE AND OUIEi' SF45i(�nt� Landlord repraestts.
<br />�varr3nls and covenaab to Terunt u faltows: (1) Landlord is seized
<br />with good, muketable, aad fee svnpte title to the Leased Premises
<br />artd to any �reas of Landlord's Propesry conwining easements or
<br />rights ol accrss u grovided tor in Puagr�ph b, i2) an+�
<br />enrambrancrs that mav exut on thr Lar,dlard's Property or the
<br />Leased Premises xiii nat interfere with the ienant's intended use oi
<br />the Lease�d Premises. (3? Ttrunt is seized ind possessrd with � valid
<br />leasehold estate in and ro the Lrased Prnmises �nd that Tenant shall
<br />ha�•e the quiet �nd Qeactful enjoyment of the Leased Premises �t all
<br />tirnes during tfsis Ctax. and f53 L.andlotd will �t all times during the
<br />ter.s+ of this Lease defend title to the Erased Prnmises agaicut aU
<br />claims.
<br />5. j!$�; I'he Ceased Premises will be used by the Tenaat tor the
<br />purpose of operating � penonal tommunications service ('PC5�1
<br />facility. In ocder ro eruble Ihe Tenant to do this, Tenant au�
<br />construct impro��ements and inst�tl equipmmt reasoubly nquired
<br />by Tenant for this we. 5uch improvements and equipment mas
<br />include, but arr not Gmited ta a telecommusiiurions structure, an
<br />aporoximate I20' tower, or antenna(e), a building(s) Do house
<br />equipment, elet:rical meten, electricit genentan, coax:al
<br />transmission lines, trarumitters, retrivers, acc�ssory devicts, a chain
<br />link fenca {to mclose all improvemenb), �nd all ocher equipmeae.
<br />aupQlies ar matcrials celaring m the fotegoin� AJl of the aboci
<br />equiQmant, nuterials ind sr.vc:vm sluU collectively 1x referred ro
<br />u"Communiations Equipment'. Tertan4 ot its contruton.
<br />asiignr_(s) a suhtensnt(s�, may nplact. repair, modify u�d rtmoee
<br />the Communicatiacu Equipment as necrssary to operate the Lrased
<br />Pamises.
<br />b. c1�..��'�_S ��D�1TIL�T'Y ����'`iF5• L�ndlcrd ags�es ta
<br />gnnt Tenant and/or Tecun3's daignre {inc!udirig Tenant's udliiy
<br />cQmpanyj tlYe r'ghts of ingnss aad eg�rsa for vehicul�r anc3/or
<br />pcdatrian accass together with the right of xctss to instaU and
<br />Sits No.: WA0347- t L t
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