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HomeMy WebLinkAboutRESOLUTION - 43-18 - 10/9/2018 - Ground lease agreement - NCWPCS MPL-32, LLC, 600 LandmeierRESOLUTION NO.43-18 A RESOLUTION AMENDING RESOLUTION NO.36-05 AND RESOLUTION NO.33-15 AND AUTHORIZING THE MAYOR AND VILLAGE CLERK TO EXECUTE A SECOND AMENDMENT TO GROUND LEASE AGREEMENT BETWEEN THE VILLAGE OF ELK GROVE VILLAGE AND NCWPCS MPL-32, LLC (600 LANDMEIER) NOW, THEREFORE, BE IT RESOLVED by the Mayor and Board of Trustees of the Village of Elk Grove Village, Counties of Cook and DuPage, State of Illinois, as follows: Section 1: That the Mayor be and is hereby authorized to sign the attached document marked: SECOND AMENDMENT TO GROUND LEASE AGREEMENT a copy of which is attached hereto and made a part hereof as if fully set forth and the Village Clerk is authorized to attest said document upon the signature of the Mayor. Section 2: That this Resolution shall be in full force and effect from and after its passage and approval according to law. VOTE: AYES:6 NAYS:0 ABSENT:0 PASSED this 9th day of October 2018. APPROVED this 9th day of October 2018. APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Loretta M. Murphy, Village Clerk SECOND AMENDMENT TO GROUND LEASE AGREEMENT This Second Amendment to Ground Lease Agreement is made this i day of r2018 amends a certain Ground Lease Agreement dated July 28, 2005 as previously amended between the Village of Elk Grove Village ("Landlord"), and NCWPCS MPL-32, LLC, a Delaware limited liability corporation, ("Tenant") by and through CCATT, LLC, a Delaware limited liability corporation, its Attorney -in -Fact. RECITALS Landlord and Tenant entered into that certain Ground Lease Agreement dated July 28, 2005 ("Ground Lease"), and First Amendment dated June 16, 2015, for certain property located at 600 Landmeier Road (formerly identified as 666 Landmeier Road), Elk Grove Village, Cook County Illinois (the "Leased Premises"). Tenant is the successor in interest to New Cingular. The lease has an original term, including all Extended Terms (as defined in the Ground Lease and amended in the First Amendment) that will expire on November 16, 2055. Landlord and Tenant wish to further amend the Ground Lease as previously amended to reflect the agreements set forth herein. NOW, THEREFORE, in consideration of the above and pursuant to the terms set forth under the Ground Lease, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 1. Sublease. Tenant may sublease a portion of the Premises to Sprint PCS ("Subtenant") upon such terms and conditions as Tenant and Subtenant shall agree. 2. Additional Rent. Tenant shall pay Landlord, in addition to the Rent required by the Agreement, the amount of Nine Hundred Dollars and No/100 ($900.00) per month ("Additional Rent") for the sublease of a portion of the Premises to Subtenant. Such increase shall be effective upon on the first day of the month following the date that Customer commences construction at the Tower Site ("Additional Rent Commencement Date") and the Additional Rent shall increase four percent (4%) per year on November 1 of each subsequent year, beginning in 2019, and shall cease upon the earlier of (i) the termination of the Ground Lease, or (ii) Subtenant's cessation of operations and removal of all of its equipment from the Premises. 3. One Time Fee. Landlord and Tenant agree that Tenant will pay to Landlord a one-time payment of five thousand dollars ($5,000.00) ("One -Time Fee") the first day of the month following the date that Subtenant commences construction at the Tower Site. The payment of the One -Time Fee is only related to the approval of this Second Amendment and shall not create any additional obligations, including any future payment obligations, under the ground lease related to Tower Site. 4. Landlord represents and warrants that Landlord is duly authorized and has the full power, right and authority to enter into this Amendment and to perform all of its obligations under this Amendment. 5. Irrespective of whether the transaction contemplated by this Amendment is consummated, Landlord and Tenant each will pay its own out-of-pocket expenses. The parties have executed this Amendment as of the effective date. Landlord: Village of Elk Grove Village Tenant: NCWPCS MPL-32, LLC By: By: Name: Name: Title: Title: Date: Date: