HomeMy WebLinkAboutRESOLUTION - 17-16 - 5/24/2016 - Ground Lease Agreement SBA 2012 TC AssetsRESOLUTION NO. 17-16
A RESOLUTION AMENDING RESOLUTIONS 25-00,35-00,57-09 AND 33-10 AND
AUTHORIZING THE MAYOR AND VILLAGE CLERK TO EXECUTE A FIRST
AMENDMENT TO GROUND LEASE AGREEMENT BETWEEN THE VILLAGE OF
ELK GROVE VILLAGE AND SBA 2012 TC ASSETS, LLC (1751 GREENLEAF
AVENUE)
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 documents
marked:
FIRST 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 24th day of May 2016.
APPROVED this 24th day of May 2016.
APPROVED:
Mayor Craig B. Johnson
Village of Elk Grove Village
ATTEST:
Judith M. Keegan, Village Clerk
Site Name: 1751 Greenleaf- Elk Grove PW Site
Business Unit No. 817009
Prepared by: Joanne Beaulieu
After recording return to: Khreshmore Spence
SBA Network Services, LLC
8051 Congress Avenue
Boca Raton, FL 33487-2797
Ph: 1-800-487-7483 ext. 7795
Parcel ID: 08-35-104-077-8001& 08-35-104-077-8002
FIRSTAMENDMENT TO GROUND LEASE AGEEMENT
This First Amendment to Ground Lease Agreement ("Amendment") is made this day
of _ , 2016 by and between SBA 2012 TC ASSETS, LLC, a Delaware
limited liability company ("Tenant") and the Village of Elk Grove Village, an Illinois municipal
corporation ("Landlord").
RECITALS
WHEREAS, Landlord and Nextel West Corp., a Delaware corporation d/b/a Nextel
Communications entered into that certain Ground Lease Agreement, dated September 12, 2000,
as evidenced by that certain Memorandum of Agreement recorded November 3, 2009, as
Document #0930749001, and ultimately assigned to Tenant Mda TowerCo Assets LLC, a
Delaware limited liability company, pursuant to that certain Assignment and Assumption of
Ground Lease recorded October 30, 2008, as Document #0830403066, both of the Recorder of
Deeds of Cook County, Illinois, as amended and assigned (collectively, "Lease") for Tenant's
use of a portion of the real property ("Premises") located at 1751 Greenleaf Avenue, Elk Grove
Village, IL 60007, being more particularly described in Exhibit "A attached hereto; and
WHEREAS, Landlord and Tenant wish to further amend the Lease to reflect the
agreements set forth herein.
NOW, THEREFORE, in consideration of the above and pursuant to the terms set forth
under the Lease, and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereby agree as follows:
1. Section 1.11 Premises shall be deleted and replaced in its entirely as follows:
Landlord hereby leases to Tenant approximately thirty-seven by forty-five (37 x 45)
square feet of Land and all access and utility easements (the "Premises") as described
in Exhibit "B" attached hereto.
2. Section 2.2 Option to Extend is hereby amended as follows:
In addition to the renewal terms as referenced in the Lease, the Lease his hereby
amended to include four (4) additional successive terms of five' (5) years each (each
an "Additional Renewal Term"). Each Additional Renewal Term shall be
automatically extended unless Tenant notifies Landlord of its intention not to renew
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Site Name: 1751 Greenleaf— Elk Grove PW Site
Business Unit No. 817009
the Lease, at least sixty (60) days prior to the commencement of the succeeding
Additional Renewal Term. The first Additional Renewal Term shall commence on
October 1, 2025. The new final Lease expiration date will be September 30, 2045.
3. Section 2.3 Paragraph (C) Rent During Extension Term shall be deleted and
replaced in its entirety as follows:
The rent and annual increments thereof, shall be subject to renegotiating by the
parties on October 1, 2035, provided the Lease is so extended. In the event the
parties are unable to agree upon new terms within thirty (30) days after October 1,
2035, then this Lease shall terminate one hundred twenty (120) days thereafter. In no
event shall any new rent be less than the then current rental.
4. The Lease is hereby amended by adding Section 2.5 Sublease as follows:
Tenant may sublease a portion of the Premises to T-Mobile ("Third Subtenant") upon
such terms and conditions as Tenant and Third Subtenant shall agree.
5. The Agreement is amended by adding Section 2.6 Additional Rent as follows:
Tenant shall pay Landlord, in addition to the Rent required by the Agreement, the
amount of One Thousand Dollars and No/100 ($1,000.00) per month ("Second
Additional Rent") for the sublease of a portion of the Premises to Third Subtenant.
The Second Additional Rent shall be in addition to the Additional Rent provided for
in the Modification Agreement, dated June 15, 2010 and shall be effective upon
commencement of rent payments by Third Subtenant to Tenant. The Second
Additional Rent shall increase four percent (4%) per year on October 1 of each
subsequent year, beginning in 2017, and shall cease upon the earlier of. (i) the
termination of the Agreement, or (ii) Third Subtenant's termination of operations and
removal of all of its equipment from the Premises.
6. The Agreement is amended by adding Section 2.7 Capital Contribution as follows:
In consideration of Landlord's extension of the renewal terms and Landlord's
approval of the sublease of a portion of the Premises to Third Subtenant as set forth
above, Tenant will pay to Landlord an additional one-time capital contribution in the
amount of Fifteen Thousand Dollars ($15,000.00) for the full execution of this
Amendment payable within sixty (60) days of the execution of this Amendment.
7. The Lease is amended by adding Section 5.1 Regulations on Subtenants as follows:
Nothing in Section 5 shall be construed as to permit the addition of a subtenant onto
the leased Premises without approval and economic considerations as negotiated with
Landlord.
8. The Lease is hereby amended by adding Section 5.2 Equipment Shelter as follows:
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Site Name: 1751 Greenleaf— Elk Grove PW Site
Business Unit No. 817009
Third Subtenant has proposed the construction of an equipment shelter with external
dimensions of approximately ten feet by twenty feet (10' x 20'). The shelter shall be
constructed to match, inasmuch as is possible, the material and color of the existing
equipment shelters on Tenant's property. The equipment shelter shall be located in
the Premises as indicated in Exhibit "B" attached hereto.
9. Section 23 Notices, of the Lease is hereby amended as follows:
If to Tenant: SBA 2012 TC Assets, LLC
Attn: Site Administration
8051 Congress Avenue
Boca Raton, FL 33487-2797
Re: IL46471-A/14iggins Park
10. 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.
11. Irrespective of whether the transaction contemplated by this Amendment is
consummated, Landlord and Tenant each will pay its own out-of-pocket expenses.
12. Capitalized terms not defined in this. Amendment will have the meaning ascribed to
such terms in the Agreement.
13. Except as specifically set forth in this Amendment, the Agreement is otherwise
unmodified and remains in full force and effect and is hereby ratified and reaffirmed.
In the event of any inconsistencies between the Agreement and this Amendment, the
terms of this Amendment shall take precedence.
14. This Amendment may be executed in one or more counterparts, and by the different
parties hereto in separate counterparts, each of which when executed shall be deemed
to be an original but all of which taken together shall constitute one and the same
Amendment.
15. Tenant has the right to record this Agreement.
[Remainder of page intentionally left blank. Signatures on following page.]
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Site Name: 1751 Greenleaf— Elk Grove PW Site
Business Unit No. 817009
The parties have executed this Amendment as of the effective date.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the day and
year first above written.
WITNESSES: LANDLORD:
VILLAGE OF ELK GROVE VILLAGE, an
Illinois municipal corporation
By: Craig B. Johnson
Print Name:
Print Name: Craig B. Johnson
Title: Mayor
Print Name:
STATE OF ILLINOIS
COUNTY OF
I, the undersigned Notary Public, do hereby certify that
on the day of 2016, , as of
the Village of Elk Grove Village, an Illinois municipal corporation, personally appeared before
me and being first duly sworn by me severally acknowledged that he/she signed the foregoing
document in the respective capacities therein set forth and declared that the statements therein
contained are true.
In Witness Whereof, I have hereunto set my hand and seal the day and year before written.
Notary Public
(NOTARY SEAL)
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Site Name: 1751 Greenleaf — Elk Grove PW Site
Business Unit No. 817009
WITNESSES: TENANT:
SBA 2012 TC ASSETS, LLC, a Delaware
limited liability company
Print Name:
By:
Alyssa Houlihan
Director of Leasing
Print Name:
STATE OF FLORIDA
COUNTY OF PALM BEACH
The foregoing instrument was acknowledged before me on the day of
, 2016 by Alyssa Houlihan, Director of Leasing of SBA 2012 TC Assets,
LLC, a Delaware limited liability company, on behalf of the company and who is personally
known to me.
Notary Public
Print Name:
(NOTARY SEAL) My Commission Expires:
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Site Name: 1751 Greenleaf — Elk Grove PW Site
Business Unit No. 817009
EXHIBIT «A„
Legal description to be incorporated upon receipt of final survey.
SITUATE IN THE COUNTY OF COOK, AND STATE OF ILLINOIS:
THE WEST 110 FEET OF THE EAST 55 3. 10 FEET OF LOT 19 IN CENTEX INDUSTRIAL
PARK UNIT NUMBER 4, BEING A SUBDIVISION IN SECTION 35, TOWNSHIP 41
NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK
COUNTY, ILLINOIS.
LESS AND EXCEPTING:
SITUATED IN THE COUNTY OF COOK IN THE STATE OF ILLINOIS, TO -WIT:
PARCEL NO. 24 (BUSSE ROAD), THE LEGAL DESCRIPTION OF SAID PARCEL
BEING AS FOLLOWS:
THE NORTH 20 FEET OF THE WEST 110 FEET OF THE EAST 553.10 FEET OF LOT 19
IN CENTEX INDUSTRIAL PARK UNIT 4, BEING A SUBDIVISION IN SECTION 35, ,
TOWNSHIP 41 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN,
ACCORDING TO PLAT OF SAID 'CENTEX INDUSTRIAL PARK UNIT NUMBER 4,
REGISTERED IN THE OFFICE OF THE REGISTRER OF TITLES OF COOK COUNTY,
ILLINOIS ON NOVEMBER 2, 1959,AS DOCUMENT NUMBER 1894159.
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Site Name: 1751 Greenleaf- Elk Grove PW Site
Business Unit No. 817009
EXHIBIT «B„
Legal description to be incorporated upon receipt of final survey
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