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<br /> 1
<br /> LESSEE Site I . D . South Reverse Osmosis Water Plant, No . 69023
<br /> LAND LEASE AGREEMENT
<br /> This Agreement , made this 19th day of July 20 05 between Indian
<br /> River County , a political subdivision of the State of Florida, with its mailing address located at
<br /> 1840 25th Street , Vero Beach FL 32960 , hereinafter designated LESSOR , and VERIZON
<br /> WIRELESS PERSONAL COMMUNICATIONS LP d/b/a Verizon Wireless , with its principal
<br /> office located at 180 Washington Valley Road , Bedminster, New Jersey 07921 , hereinafter
<br /> designated LESSEE . The LESSOR and LESSEE are at times collectively referred to hereinafter
<br /> as the "Parties" or individually as the "Party" .
<br /> 1 . PREMISES . LESSOR hereby leases to LESSEE a portion of that certain parcel
<br /> of property (the entirety of LESSOR ' s property is referred to hereinafter as the Property) , located
<br /> at 1550 91h Street SW , Vero Beach , Florida 32968 , and being described as a 70' by 70 ' parcel
<br /> containing 4900 square feet , as described in Deed Book 604 at Page 2159 , as recorded in the
<br /> Recorder ' s Office of Indian River County, State of Florida, together with the non -exclusive right
<br /> for ingress and egress , seven (7 ) days a week twenty- four (24 ) hours a day , (controlled by the
<br /> seven (7 ) days a week twenty- four (24) hours a day manned water plant ) on foot or motor
<br /> vehicle , including trucks , and for the installation and maintenance of utility wires , poles , cables ,
<br /> conduits , and pipes over, under, or along a twenty foot (20 ') foot wide right- of-way extending
<br /> from the nearest public right- of-way , 9th Street SW (Oslo Road) , to the demised premises . The
<br /> demised premises and right of way for ingress and egress and right of way for utilities
<br /> (hereinafter collectively referred to as the "Premises " ) are as described herein in Exhibit A
<br /> attached hereto and made a part hereof, and as shown on that certain survey attached hereto and
<br /> incorporated herein as Exhibit B .
<br /> In the event any public utility is unable to use the aforementioned right-of-way , the
<br /> LESSOR hereby agrees to grant an additional right-of-way either to the LESSEE or to the public
<br /> utility at no cost to the LESSEE .
<br /> 2 . SURVEY . LESSOR has granted to LESSEE the right to survey the Property
<br /> and the Premises , and said survey is attached hereto and made a part hereof as Exhibit B , and
<br /> shall control in the event of boundary and access discrepancies between it and Exhibit A . Cost
<br /> for such work shall be borne by the LESSEE .
<br /> 3 . TERM . 3 . l . This Agreement shall be effective as of the date of execution
<br /> by both parties , provided, however, the initial term shall be for five ( 5 ) years and shall
<br /> commence on the Commencement Date (as hereinafter defined) at which time rental payments
<br /> will be due at an annual rental of Eighteen Thousand and 00/ 100 Dollars ($ 18 , 000 . 00) , subject to
<br /> increase as set forth in this Agreement, including any applicable sales tax , ( "rent" ) . Rent shall
<br /> be paid annually in one lump sum payment on the Commencement Date ( as hereinafter defined) ,
<br /> and on each successive anniversary of the Commencement Date during the term of this
<br /> Agreement , in advance , to LESSOR or to such other person , firm or place as the LESSOR may ,
<br /> from time to time , designate in writing at least thirty (30) days in advance of any rental payment
<br /> crate . In the event rent is not received within ten ( 10) days of the due date , LESSEE shall pay a
<br /> late charge in the amount of Two Hundred and 00/ 100 Dollars ($ 200 . 00) . The Commencement
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