HomeMy WebLinkAboutSprint Lease 09-26-2005global s gnal
Meeting needs. Exceeding expectations.
www.§signaLcom
September 26, 2005
JEFFERSONVILLE, CITY OF
CITY BUILDING
501 E COURT AVE
JEFFERSONVILLE, IN 47130
CERTIFIED MAIL-
RETURN RECEIPT REQUESTED
Re.'
Agreement Regarding Ground Lease by and between yourself, as Landlord, and Sprint (or its
aff'ffiates)
Tower Site Name: LV03XC021
Dear JEFFERSONVILLE, CITY OF:
Enclosed with this letter is a fully executed copy of the Agreemem Regarding Ground Lease (hereinafter
"Agreement") signed by you as Landlord with regard to the sublease by Global Signal, or its affiliates, of the
tower facility owned by Sprint, or its affiliates referenced above.
Pursuant to the specific provisions of the Agreement, please update your records to reflect that the notice
address for the Leasehold Lender has changed and all future notices with respect to the Agreement should
be sent as follows:
Global Signal Acquisition II LLC
301 North Cattlemen Road
Suite 300
Sarasota, FL 34232
With a copy to:
Morgan Stanley Asset Funding, Inc., as Collateral Agent
1221 Avenue of the Americas
27th Floor
New York, NY, 10020
Very truly yours,
Keith Dmcker,
Vice President, Corporate Development
Global Signal
Enclosures
Corporate Office
301 North Cattlemen Road Sarasota, FL 34232
T 941.364.8886 F 941.364.8761
LV03XC021
Recording requestedby
and when recorded
return to:
Global Signal Inc.
301 North Cattleman Road
Suite 300
Sarasota, FL 34232
Attn: General Counsel
AGREEMENT REGARDiNG GROUND LEASE
~ I, THIS AGREEMENT REGARDiNG GR,O,,UND L~,ASE (this "Agreement")is made as
of ~l[&2~, 2005, between the party identified as Landlord on the signature page,, hereof and
SPRINT ~PECTRUM REALTY COMPANY, L.P., a Delaware hm~ted partnersinp ( Tenan ).
RECITALS:
A. Landlord and Tenant are now parties to that certain PCS SITE AGREEMENT
dated April 15, 1996, a copy of which is annexed hereto as Exhibit A (the "Lease"), covering certain real
property more particularly described on Exhibit A attached hereto (the "Property");
B. Pursuant to an agreement dated February 14, 2005 by and among Tenant; certain
subsidiaries of Tenant and Global Signal, Inc., the Lease and the property related thereto (the "Premises")
will be assigned to an affiliate of Tenant ("Tenant Affiliate"); and, after such assignment, the references
to Tenant herein shall apply to Tenant Affiliate;
C. Pursuant to a sublease (the "Sublease"), Tenant Affiliate will sublease its entire
interest in the Lease to an affiliate of Global Signal ("Subtenant") in exchange for certain prepaid
consideration and Subtenant will then leaseback to Tenant (and/or one or more of its affiliates) the portion
of the leased premises on which Tenant's telecommunications equipment is currently located in exchange
for certain ongoing payments (collectively, the "Lease and Lease Back Transactions");
D. Certain lenders (each, together with their successors and assigns, a "Lender")
may make a loan to Subtenant or certain of its affiliates secured by a mortgage or other security
instrument encumbering Subtenant's interest in the Sublease; and
For good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereby agree as follows:
IqAMBURG PIKE (LV03XC021)
(3234-tN)
DEPARTMENT OF LAW
LESLIE D. MERKLEY
City Attorney
812 = 285 - 6491 office
812: 285 - 6468 fax
lmerkley@cityo~ effersonville.net
City- County Building
501 E. Court Avenue
Je fferionville, Indiana 47130
Robert L. Waiz, Jr.
Mayor
May 3, 2005
Mr. Jim Peterson
Global Signal
301 North Catdeman Road
Saras0ta, FL 34232
RE: Estoppel Certificate L¥03XC021
Dear Jim:I
Encloseci please find the original of the above captioned document. Please return an
executed Copy for our records.
If we can be of service regarding this or any other matter, please feei free to contact our
or'ce.
Yours truly,
Paralegal
/slk
Enclosure
An equal opportunity employer.
1. Consent. To the extent any such consent is required by the Lease, Landlord hereby
consents (a) to 'the assignment of the Lease from the original tenant under the Lease (an affiliate of
Tenant) to Tenant, (b) to the acquisition by Tenant Affiliate (or any affiliate thereof), direcfly or
indirectly, of Tenant's interest in the Lease, (c) to the Sublease (and the recording of a memorandum of
the Sublease) and (d) to the Lease and Lease Back Transaction.
2. Estoppel Certificate. Landlord certifies that (and Lender may rely on such
representations) the following statements are true as of the date hereof:
(a) Tenant is the current tenant under the Lease (a full copy of which, including all amendments
thereto, is annexed as Exhibit A), and the Lease is in full force and effect and contains the entire
agreement between Landlord and Tenant with respect to the Property. Landlord is either the owner of the
fee simple interest in the Property or the holder of a valid leasehold interest in the property and the person
or entity signing on behalf of Landlord is authorized to do so and no other person or entity's signature is
required to bind Landlord.
(b) No default exists under the Lease on the part of Tenant, and, to Landlord's knowledge, no
event or condition has occurred or exists which, with notice or the passage of time or both, would
constitute a default by Tenant under the Lease.
(c) No payments to Landlord are required under the Lease for the Lease and Lease Back
Transactions or otherwise in connection with the above consents.
3. Agreement with Respect to the Lease and Sublease. Landlord hereby agrees with respect
to the Lease as follows:
(a) Lender and Subtenant shall have all of the rights of Tenant under the Lease, including the
right to exercise any renewal option(s) or purchase option(s) set forth in the Lease, and shall have the
right to assign the Sublease without Landlord's further consent.
(b) Landlord shall deliver to any Lender and Subtenant (in each case at such address as shall be
designated in writing to Landlord) a copy of any default notice given by Landlord to Tenant under the
Lease. No default notice from Landlord to Tenant shall be deemed effective as against any Lender or
Subtenant unless received by such Lender or Subtenant.
(c) If Tenant defaults on any monetary obligations under the Lease, Landlord shall accept a cure
thereof by any Lender or Subtenant within thirty (30) days after delivery of notice of such defaults. For
non-monetary defaults, Landlord shall not terminate the Lease for so long as a Lender or Subtenant is
diligently pursuing a cure of the default, and if curing such non-monetary default requires possession of
the Property, then Landlord agrees to give the Lender or Subtenant a reasonable time to obtain possession
of the Property and to cure such default.
(d) Landlord acknowledges none of Tenant or Tenant Affiliate may terminate, surrender or
cancel the Lease except as provided in the Lease and may not amend the Lease in a manner that
materially increases the liability or obligations of Tenant or Tenant Affiliate or decreases the rights of
Tenant or Tenant Affiliate without the prior written consent of Lender.
(e) If the Lease is terminated by Landlord for any reason, or otherwise rejected in bankruptcy,
Landlord will enter into a new lease with either Lender or Subtenant on the same terms as the Lease,
provided that all past due amounts under the Lease are paid to Landlord within 30 days of notice to
Lender and Subtenant of such termination.
2 HAMBURG PIKE (LV03XC021)
(3234-IN)
4. Memorandum of Lease. To the extent the Lease or a memorandum thereof has not
previously been recorded, this Agreement shall constitute a "memorandum of lease" under applicable
State law and may be recorded in the applicable public records, the provisions of the Lease (with certain
financial terms redacted therefrom) being as set forth on Exhibit A annexed hereto and made a part
hereof.
5. Notices. All notices sent to any Lender or Subtenant shall be in writing and sent by
United States mail postage prepaid or other reputable courier service at the following address: c/o Global
Signal Inc., 301 North Cattleman Road, Suite 300, Sarasota, FL 34232, Attn: General Counsel; or to such
other address as Lender or Subtenant shall have notified Landlord in wrihng.
6. Miscellaneous.
(a) If this Agreement is inconsistent with the Lease, this Agreement shall control.
(b) This Agreement shall be binding upon Landlord and its successors and Shall benefit each of
Lender and Subtenant and their respective successors and assigns.
(c) This Agreement may not be amended or modified except by a written agreement executed by
Landlord, any Lender and Subtenant. This Agreement may be executed in any number of separate
counterparts and all signatures need not be on the same counterpart.
[SIGNATURE PAGES FOLLOW]
3
HAMBURG PIKE (LV03XC021)
(3234-IN)
TENANT
IN WITNESS WI-IEREOF, the undersigmed, pursuant to proper authority, has duly
executed, acknowledged and delivered ti,is instrument as'its true act and deed.
SPILINT SPECTRUM tLEALTY COMPANY,
L-P., a Delaware limited partnership, successor
by assignment to Sprint Spectrum L.P.
Name: Monica E. Rademacher
Title: Lease Specialist 1I, EPS - T&PS
LANDLORD
iN WITNESS WHEREOF, the undersigned, by its duly elected officer(s) and pursuant to proper
authority has duly executed, acknowledged and delivered this instrument as its true act and deed.
LANDLORD:
CITY OF JEFFERSO~.~LLE
By: ~j/ /
HAMBURG PIKE (LV03XC021
(3234-IN)
EXHIBIT A
Lease and Legal Description
(see attached)
HAMBURG PIKE (LV03XC02I)
(3234-IN)
4
AGREEMENT
hrnded partnership ("SSLP-). the site described below.
C~ek appropds e box[es)]
al property consisting of approximately ~ square feet of isnd;
Building intoner space consisting of approxiJnately square feet,
r3 Building exterior space for placement of base station equipment,
[] Tower antenna space: .
ri the Iocahon(s) ("Site') shown on Exhibit A, together w~h a non..exclusive
~iscmtion of SSLP, source of electric and telephone facilities The Site will be
used by SSLP for the purpose of installing, removing, replacing, maintaining
facihty ('PCS'), including, wdhoct lim~tatlen, related antenna equipment and
fixtures. SSLP will use the S~te in a manner which wilJ net unreasonably
distuFc~he OCCUpancy of Owners other tenants.
2 Term The term of th~s Agreement (the 'inlt[al Term') is ~ years,
commencing on the date ('Commencement Date') SS~..~j~s this
Agreement. This. Agreement will be auto~i~atically r?ewe, d fa~..~thfl~easl
.".0mmencement Date and on each ann~versa~/of ~ Until ~he
~ate which is 30 days after the issuance of a b~d[ng ~instaltation ef
the PCS, er (b) the first day of the mo nth fatle~en, ce m.en ~ ~f. ph..ysical
preparation of the Site. the ~:)~.-311:~.00, the moeipt of which Owner
~artia yeam'~ for each_Renewal ~ern~_ will be
4. Title and Quts~ Possession. Owner represents and agrees (a) that it is
the Owne~ of the Site; (b) that it has the r~ght te enter into this Agreement;
(c) that the demon signing this Agreement has the autho~ty to sign; (d) t~,at
of the Site throughout the to~al Term and each Renewal Term so iong as
SStJ:) is not in default beyond the expiration of any cure period; and (e) that
Owner shall net have unsepe~vieed acoese to the She o~ to the PCS
g. Assignment/Subletting. SSLP will not asmgn er transfer this Agreement
Owner, which consent will not he unraasenably withheld, delayed er
control with SSLP er to any par~ wh~;h acquires substantially all of the assets
of SSLP,
8. Notices. All nof~ces must be in w~ing and are effective when deposited in
7. ImprovemenUs. $$LP may, at its expense, make such improvements on
cooperate with SSLP with respect to obtaining any redcired zoning approvais
11. Termination SSLP may terrmnate this Agreement at any time by notice
to Owner wilhcot fudher liabihty ~f SSLp does not obtain all perrnds or other
approvals (collectively. "approval'} required fram any governmental authority
or any easements requtred from any tfurd path/to operate the PCS system, or
If any such approval is canceled, expires or is w~thdrawn or terminated, or ~f
Owner fa~is to have proper ownership of the Sde or authooty to enter into this
Agreement, or ~f SSLP, for any other reason, m tls sole discretion, determines
that It will be unable to use the S~te for )ts intended puq3ose Upon termlnatles,
all prepaid rent sha~[ be retained by Owner
12. Default- if either patty is in default under this Agreement for a period of
(a) 10 days following reCeipt of nobce from the non-defaulting party with
respect to a default which may be cured solely by the payment of money, or
(bi 30 days fallowing receipt of notice from the non-defaulting party with
respect to a default which may not be cured solely by the payment of money,
then, in either event, the non.defaulting party may pumsue any remedies
available to it against the defaulting party under appliCable law, including, but
not limited to, the right to terminate this Agreement. If the non-monetary
default may not reasonably be cured v~thin a 30 day pedod, this Agreement
may not be erro noted if the defaulting party corrtmenees action to cure the
default wdhin such 30 day per~od and p[oceeds wdh due d [ gence to fu y cure
the dePault.
13. indemnity. Owner and SSLP each indemnifies the other against and
holds the other harmless from any and all costs (including reasonable
attorneys fees) and claims of liability er less whioh arise out of the use and/or
occupancy of the Site by the indemnifying party. 'mis indemnity does net
apply to any simms arising from the sole negligence or intenbona~ misconduct
of the indemnt§ed party.
14. Hazardous Substances Owner represents that it has no knowisdge of
any substance, chemical er waste (collectively, "substance") on the Site that is
identified as hazardous, toxic or dangerous in any applicable federal, taato or
local law or regulation. SSLP shall not introduce er use any such substance
On the Site in violation of any applicable law.
15, Miscellaneous. (a) This Agreement applies tp and binds the heirs,
successems, executors, administrators and assigns of the parties to this
Agreement; b) 'mis Agreement is governed by the taws of the State in w. hi~h
the Sde is located; (cf f requested by SSLP, Owner agrees ~ompoy to
execute and deliver to SSLP a recordable Memorandum of this Agmercent in
the form of Exhibd B: (df This Agreement (Including the Exhibits) constitutes
the entire agreement between the padJes and supersedes all prior w~tten and
verbal agreements, representations, promises or understandings beb~een the
petites. Any amendments to this Agreement must be To writing and executed
by beth pa~es; (e) If any pmovislen of this Agreement is invalid or
unenforceable with respect to any path/, the rema[nder of this Agreement or
the application of such provision to parsons other than those as to whom it is
held invalid or unenforceable, will net be affected and each ptovlston of this
Agreement will be va[id and enforceable to the fullest extent permitted by law;
and (0 'me prevailing paAy in any action or proceeding in coud or mutually
agreed upon arbitration proceeding to enforce the terms of this Agreement is
entitled to receive its reasonable attorneys' fees and other reasonable
enforcement costs and expenses froro the non-prevading pa~'.
The fotiowieg Exhibits are ~,ached to a~d made a part of this
Agreement: Exhibit A, B and
Agreement, SSLP may remove ~ts equipment and improvements and will
restore the She to the condition existing on the Commencement Date, except
for ordinary wear and tear.
8 Compliance wth Laws. Owner represents that Owner's property
nc ud ng tho S e) and all ~mprovemeota located thereon, are n o ........
rom trance w h building, life/safety, disability and other laws, codes an~g~' ~'/)
reg utPa~t~ons' of app~icehta governmental. .auth°nties'. SSLc~ will ~;hatc~.tlc',l'~ ~:~
coroply with ail applicable laws relating to ~ts possession and use of the S
g. interference, SSLP will resolve technica~ interference problems web other
eqmpment located at the Sate on the Commencement Date or any equipment
the1 beComes attached to the Site at any future date when SSLP desires to
add eddihonal equipment to the S~te. Likewise, Owner will not permit the
instal]abort of any future equipment which results in technical interference
problems w~th SSLP'S then existing eqmpment.
10. Utilities. Owner represents that utilities adequate for SSLP'e use of the
Site are avmlabta. SSLP w~ll pay for ali ubntles used by ~t at the S~to. Owner
will cooperate wRh SSLP in SSLP's efforts to obtain utihtios from any locot[0n
By:_
S.S./Tax No,'
Se~ Exhibit Al for ~mmuation of ~ner signatur~
Address: ~ ~ 13L~ ~t ~, ~o~ ~
provided by Owner or the servicing utility.
Attach ExhLblt A - Site Description and Exhlb~t B - Memorandum of PCS S~te Agreement
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v,~o. 2.0 EXHIBIT A'
commonly described as
Legal Description:
Sketch of Site:
Owner initials
SSLP Initials
*[U~ ~ ~i~ A f~ PCS SEe A0~, ~um o~ PCS ~e Ag~, O~ A~ a~ ~um of OH~n Agr~ment}
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Sketch of Site:
Owner Initials ~/f/~
Not~: Owner a~ ~ ~Y. at SS~ oFflon, mpta~ ~1~ ~hlb~ wl~ an exhib~ se~l~ ~ ~e ~al des~p~n of ~e pro~ on wh ~ ~e S~e
~U~ ~ta ~hib~ A ~r P~ 8~ ~nt, Memom~um of PCS S~ ~r~nt, Open Ag~nt and M~ra~um of Op~on
PCS SITE AGREEMENT- EXHIBIT A
Site Name: Hamburg Pike
SiTg DESCRIPTION
Site I.D. LVO3XC021B1
Site situated in the City of Jeffersonville, County of Clark, State oflndiana:
Parent Tract:
A tract of land on the North side of Lakeside Drive East of Hamburg Pike conveyed to the City of
Jeffersonville by Deed of Record 132 Page 340 in the Office of the Recorder, Clark County, ]Indiana
and described as follows:
Beginning at a point in the South line of Lakeside Drive, said point being North 88 degrees 18
minutes 22 seconds East 153.38 feet from the intersection of said line and the East line of Hamburg
Pike, thence North I0 degrees 13 minutes 52 seconds East 50.30 feet to a point in the East line of
Bohenberger's Breezy Hills Subdivision (Block 3) of record in Plat Book 5, Page 18, in the Office
aforesaid, thence with said East line North 0 degrees 07 minutes 46 seconds West 250 feet to a point
in the line of W.T. Ingrain Corp. of record in Deed Record 194 Page 244 in the Office aforesaid,
thence with said Ingrain line North 74 degrees 55 minutes 46 seconds East 499.00 feet; South 18
degrees 54 minutes 20 seconds East 305.01 feet, and South 76 degrees 33 minutes 57 seconds West
605.60 feet to the point of beginning.
Description of Leased Area:
A 30 feet by 70 feet portion of a tract of land conveyed to the City of Jeffersonville by Deed of
Record 132 Page 340 in the Office of the Recorder, Clark County, Indiana and described as follows:
Beginning at a point said point being North 76 degrees 33 minutes 57 seconds East 1 I5.4i feet along
the South line of parent tract and North 13 degrees 26 minutes 03 seconds West 191.54 feet from the
Southeast comer of the parent tract; thence North 15 degrees 13 minutes 53 seconds West 70 feet to
a point; thence North 74 degrees 46 minutes 07 seconds East 30 feet to a point, thence South 15
degrees 13 minutes 53 seconds East 70.00 feet to a point, thence South 74 degrees 46 minutes 07
seconds West 30 feet to the point of beginning.
Description of Access Easement:
A strip of land 30 feet in width extending from the East side of Lease Area shown hereon to the East
terminus line of Lakeside Drive with the centerline described as follows:
Beginning at a point in the East line of Lease Area North 15 degrees 13.minutes 53 seconds West 15
feet from the Southeast comer of said Area, thence North 74 degrees 46 minutes 07 seconds East
30.47 feet, South 13 degrees 26 minutes 03 East 106.41 feet and South 33 degrees 36 minutes 37
seconds West 115 feet more or less to the centerline of and existing access easement, thence with
said easement 70 feet more or less to the East terminus line of Lakeside Drive.
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Description of Utility Easement:
A strip of land 30 feet in width extending fi-om the East side of Lease Area shown hereon to the East
terminus line of Lakeside Drive with the centerline described as follows:
Beginning at a point ia the East line of Lease Area North 15 degrees 13 minutes 53 seconds West 15
feet from the Southeast comer of said Area, thence North 74 degrees 46 minutes 07 seconds East 30.47
feet, South 13 degrees 26 minutes 03 East 106.41 feet and South 33 degrees 36 minutes 37 seconds
West 115 feet more or less to the centerline of and existing access easement, thence with said easement
70 feet more or less to the East terminus line of Lakeside Drive.
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Site Name
EXHIBIT B
PCS Site Agreement
Memorandum of PCS Site Agreement
lg~. bet'~veen o'~J74,'-P/:-~A~J~Z/~/{~ ('Owner') and Spnnt SpUtum LP., a Deta~re lim~
pa~nemhip ('SS~'). ~te~s and rend tons of ~ich are inco~orat~ heroin by reference.
Such Agr~ment pro%des in ~R that ~er teas~ to SSLP a ~Rain site ('~Ee') lo,ted at
a~a~h~ hereto. ~h grant of ease~.~ Hghts of a~s ther~o and to el~nc and telephone ~cfl~t~es ~r te~ of
~y~rs commencing on ~ , lg~ch te~ is subj~t to~ ~addi~Jonal ~ve (5) year e~ens~n periods
by SSLP. m ~V ~ / ~
tN WI~ESS WHEREOF, the ~ h~e ~ ~ls Mem0mndum as o~ ~e day and y~r flint above ~en.
By:
"OWNER"
Name: ~/4//-I P ~. ~y Name:
~fle: ~u~Y ~,~ T~e:
~ S~ ~b~ B~ fo~ ~nfinuaUon ef ~e~ ~Gnatur~ ~dd~s;
Address:
"SSLP"
Sprint Spe~,trum LP.. a Delaware limited parl:~ership
Owner Initials
SSLP Initials
At~.,h Exflll~t A - SEe
(D
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State of ~
County of
.~.r.ego,[ng in~rul~ont w.as ackno~ bef~ro~o, t~is~d~y of
· ~,,'~"~,~Jr~ .....~F~ NOT~mL S~) (~dal Nom~ S~nmre) ~ ~ '
;...,,; , - NOT~Y PUBLIC
~e of Ken~c~
Coun~ of Jeffe~n
Jeffe~ A. Flora, Dire~or and a~o~ agent on ~half of Spent S~m LP., a ~e~a~m
(Pflnted, typed or stamped name of Notary)
(Ot~t Notar~Signature)
NOTARY PUBUC - STATE
(Pflnted, typed or stamped name of Notary)
Commission Number:.,
This
insbume V ~ ~//_by:~__~ed...~
~h~sW. Dob~s,~r. [ ' ~
TiLFORO, ~BB~S, ~R, BUC~WAY & B~CK
1400 One R~e~ont Plaza
Lou~lle, Kentuc~ 4~02
CORPORATION
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EXHIBIT C
Site I4~me: Hamburg Pike
PCS Site Agreement
Site I.D. LVO3XCO21B1
Insert to Paragraph 3:
From the Commencement Date until the earlier of a} the date which is tb2rty (30) days
after the issuance ora building permit for inslallation of the PCS, b) the first day of the month
following commencement of physical preparation of the Site, or c) ninety (90) days after the
Commencement Date (hereinafter the "Rental Commencement Date"), the Rent hereunder will
be $100.00 per month payable in advance on the first day of each month.
On the Rental Commencement Date, SSLP will pay Owner two (2) years rent in advance,
i.e. $20,000.00, partial years to be prorated. On the second anniversary of the Rental Commence-
meat Date the rent will be payable in monthly installments of $1000.00 per month beginnng in
the twenty-fifth (25th) month through the end of year ten (10). In the eleventh I11th) through the
fifteenth (15th) years, the rent will be $1,100.00 per month due and payable on the first day of
each month. In the sixteenth (16th) through the twentieth (20th) years, the rent will be $1,275.00
per month due and payable on the first day of each month. During the last five years, years
t~nty-one (21) through twenty-five (25), the rent will be $1,450.00 per month due and payable
on the fttst day of each month.
The proposed mono~>le will be strficturally capable of colocation. If SSLP subleases
space on the monopole and the ground for the antennas and equipment of another wireless pro-
vider, with the prior written consent of the Owner, then SSEP will share the rent from a sublessor
on a 75/25 basis. That is, SSLP, in consideration of its construction of the Site and the mono-
pole and its maintenance thereof, will receive 75% of the sublease rent and the Owner of the Site
will receive 25% of the sublease rent. Said rental amount will be paid by SSLP to the Owner on
a monthly basis, due and payable of the first day of each relevant month.
In addition, the O~vner reserves the right to place antennas or other equipment on the
monopole and on the Site without charge; provided, however, that at the time the Owner wants to
do so, the monopole is structurally capable of safely accommodating the Owner's proposed
equipment. Th~ determination as to the stmctaral capability of the monopole to safely accom-
modate the Owner's proposed equipment will be made in the form of a writtan analysis fi-om the
engineering firm that. designed, de sabject, monopole.. ..
Insert t ara rah 7:
SSLP will promptly pay contractors and materialman, and not permit or suffer any lien or
claim to attach to the Site, or any part thereof_ SSLP will indemnify Owner with respect to any
loss, including attorne3/s' fees and costs, incurred with respect to any ~uch claims. SSLP will
furnish reasonable indenmities satisfactory to Owner prior to the cormmencement of any work by
SSLP on the Site. If any lien attaches or is claimed, Owner may require such a bond or indernni-
ty in addition to all other remedies.
Owner Initials_~..
SSLP Initials ~/tT, _