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2021-124
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2021-124
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Last modified
11/29/2021 3:43:30 PM
Creation date
9/7/2021 2:22:10 PM
Metadata
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Template:
Official Documents
Official Document Type
Agreement
Approved Date
08/17/2021
Control Number
2021-124
Agenda Item Number
12.E.1.
Entity Name
TIGR Acquisitions III, LLC
(with consulting from SteepSteel LLC)
Subject
Purchase and Sale Agreement for 810 Bailey Road Tower
supporting doscuments added 11_29_21; signed by county admin
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receiving antennas,microwave dishes,tower and base, equipment shelters and/or cabinets and related <br /> cables and utility lines and a location based system, antenna(s), coaxial cable, base units and other <br /> associated equipment ("Equipment") necessary for the facilitation of telecommunications, radio and <br /> television broadcasting and other related uses,including,but not limited to,any uses permitted by each <br /> Collocation Agreement ("Permitted Use"). Grantor represents that there is no pending or threatened <br /> action that would adversely affect Grantor's ability to enter into this Agreement or grant the Easement <br /> and that entering into this Agreement will not violate or conflict with any provision of Grantor's <br /> organizational documents (if Grantor is an organization) or conflict with the provisions of any <br /> agreement to which Grantor is a party.Grantor further represents and warrants that Grantee shall have <br /> peaceful and quiet possession and enjoyment of the Easement during the term of this Agreement <br /> without any disturbance of Grantee's possession or Permitted Use hereunder. <br /> 3. Term.Commencing on the Effective Date,the term of this Agreement and the Easement shall be for a <br /> perpetual term (the "Term"). Upon notice to Grantor as provided herein, Grantee may surrender the <br /> Easement to Grantor and execute such documents reasonably required to terminate the Agreement and <br /> the Easement. Grantor may not unilaterally terminate the Agreement or Easement,but if the Easement <br /> is not used for the Permitted Use for a period of ten(10)years the Easement shall be deemed abandoned <br /> and shall terminate upon Grantor's notice of such default to Grantee as provided herein. Sections 11 <br /> and 12 shall survive expiration or termination of this Agreement and shall remain in effect in perpetuity, <br /> subject to applicable law. In the event of a casualty that impacts the Easement such that it cannot be <br /> used for the Permitted Use,then Grantee shall determine whether or not it will rebuild the cellular tower <br /> and communicate such decision to Grantor within six(6)months of such casualty. If Grantee decides <br /> it will neither rebuild the tower, nor have another party rebuild the tower then Grantee shall terminate <br /> the Easement. <br /> 4. Assignment of Lease, Renewal and Right of Collocation. Grantor hereby assigns to Grantee all of <br /> Grantor's right, title and interest in each Collocation Agreement for the Term, including the right to <br /> renew each Collocation Agreement throughout the Term hereof. Except as provided herein, Grantee <br /> agrees to assume all of Grantor's rights and obligations under each Collocation Agreement. If <br /> Collocator is obligated under each Collocation Agreement to pay to Grantor any fees(other than base <br /> rent and any escalations thereto) for the purpose of utility service or access or tax reimbursement, <br /> Grantor shall continue to be entitled to such fees, although Grantee may collect and distribute same to <br /> Grantor. Grantor shall continue to perform all obligations of the lessor under each Collocation <br /> Agreement which relate to the use,ownership,and maintenance of the Parent Property so that Grantee <br /> may fulfill all the obligations under each Collocation Agreement without breaching any provision <br /> therein, including, but not limited to, Grantor maintaining the Parent Property in a commercially <br /> reasonable condition to allow the Permitted Use of the Easement. Notwithstanding the foregoing, <br /> Grantor shall not be required to make any improvements to the Parent Property and the Parent Property <br /> is acknowledge by both parties to be in a commercially reasonable condition to allow the Permitted <br /> Use of the Easement as of Grantee's April 8,2021 site inspection.Grantor represents and warrants that <br /> it has delivered to Grantee true and correct copies of each Collocation Agreement and that Grantor <br /> owns 100% of the lessor/landlord's interest in each Collocation Agreement, including the right to <br /> collect all rent thereunder. To the best of Grantor's knowledge,no party to each Collocation Agreement <br /> has breached or is in default of their respective obligations under each Collocation Agreement and no <br /> party has requested or discussed a modification or termination of each Collocation Agreement.Pursuant <br /> to this Agreement,Grantee is permitted and authorized to enter into Collocation Agreement(s)with one <br /> or more additional Collocators within the Easement. <br /> 5. [Reserved.] <br /> 6. Grantor Cooperation and Non-interference.Grantor hereby agrees to cooperate with Grantee and/or <br /> each Collocator in obtaining all licenses, permits or authorizations from all applicable governmental <br /> Asset File#: TwPA0035492 Page 2 of 11 <br />
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