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Prepared by and after Recording Return to : �( L BROAD AND CASSEL 1 North Clematis Street Suite 500 West Palm Beach , FL 33401 Attn : Clifford I . Hertz, Esq , Cingular Site : WEST VERO MEMORANDUM OF LICENSE AGREEMENT This Memorandum of License Agreement (the " Memorandum ") is made this 1st day of June , 2004 , between INDIAN RIVER COUNTY, a political subdivision of the State of Florida , whose address is 1840 25th Street , Vero Beach , FL 32960 , (the " Licensor") and BELLSOUTH MOBILITY LLC , a Georgia limited liability company, d/b/a Cingular Wireless , with an office at : 6100 Atlantic Boulevard , Norcross , Georgia 30071 (the " Licensee" ) . WITNESSETH : Licensor and Licensee entered into an Elevated Water Tank Space License Agreement on March 23 , 2004 , (the " License Agreement") for the purpose of installing , operating and maintaining a wireless communications facility and other improvements . All of the foregoing is set forth in the License Agreement . The real property, owned by the Licensor, is described in Exhibit "A" attached to the License Agreement. In consideration of the rent and covenants therein provided in the Agreement , Licensor hereby grants a license to Licensee and Licensee hereby accepts the license from Licensor for that certain property more particularly described on Exhibit "A" attached hereto and incorporated herein by reference (the " Licensed Premises ") . 1 . The term of the Agreement is for five (5 ) years commencing on the earlier of construction of Licensee Facilities or one hundred eighty ( 180 ) days from full execution of this Agreement (" Commencement Date " ) and terminating on the fifth anniversary of the Commencement Date with three ( 3 ) successive five (5 ) year options to renew, at Licensee ' s option . 2 . Licensee further has the option to extend the Initial Term for three (3 ) additional consecutive five ( 5 ) year periods upon the terms and conditions set forth in the License Agreement (the " Extension Options ") . If all Extension Options to renew are exercised , the term of the License Agreement will expire twenty (20 ) years after the Commencement Date . For purposes of providing notice to third parties hereunder, it shall be presumed that the Extension Options have been exercised in the future unless Licensee executes and records in the public records an instrument which indicates that an Extension Option has not been exercised or this Memorandum has been terminated . 3 . Licensor covenants that Licensee , on paying the rent and performing the covenants set forth in the License Agreement , shall peaceably and quietly have , hold , and enjoy the Licensed Premises . WPB 1 \REALESn128884 .4 28403/0194 CS 4/12/2004