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table. Each wireless contract has different terms. The older contracts have lease rates that are <br />significantly below the current market. <br /> <br />2014 Arden Hills Cell Lease Information for City Water Towers <br />Company <br />2014 Rate Increase Contract <br />Location <br />Next Approved <br /> <br />Monthly Yearly Rate Frequency Increase / Revised Expires <br />Paid <br />Nextel/Sprint Yearly $33,000.00 4% Yearly 2015 1995/2014 2039 Red Fox <br />Paid <br />AT&T/Cingular Yearly $33,000.00 4% Yearly 2015 1989/2014 2039 Cummings <br />Every 5 <br />T-Mobile 1 $1,322.50 $15,870.00 15% years 2016 2000 2025 Red Fox <br />Paid <br />T-Mobile 2 Yearly $20,866.93 3% Yearly 2014 2008 2028 Cummings <br />Paid <br />TTM Yearly $3,130.04 3% Yearly 2014 2009 2030 Red Fox <br />Paid <br />Zayo Yearly $5,304.50 3% Yearly 2014 2011 2041 Cummings <br />Updated: 4/22/2014 shows anticipated lease terms <br /> <br />Terms of the Site Lease Agreement <br /> <br />Key terms of the new site lease agreement are as follows: <br /> <br />Lease Rate The Tenant will pay a lease rate of $33,000 per year. No additional rent per year per <br />antenna will be charged. Rent shall be increased by 4% annually. <br /> <br />Sprint currently has nine antennas installed on the Red Fox water tower. As part of the first <br />phase of their upgrade project, Sprint proposes to add three antennas. During the second phase <br />of the project, Sprint will remove three of the currently existing antennas. The terms of the lease <br />allow Sprint to have a maximum of 12 antennas on the tower. <br /> <br />Site Restoration Escrow. The Tenant will provide an escrow of $5,000 that will be refunded to <br />the Tenant following the timely removal of all equipment from City property at the termination <br />or expiration of the lease. <br /> <br />Administrative Fee. The tenant agrees to pay the City for its legal and administrative expenses <br />associated with this site lease agreement. The Tenant will also pay the <br />inspections, engineering consulting, and installation project management related to this <br />agreement. <br /> <br />Lease Term. The initial term of this lease agreement is five years. The lease will automatically <br />extend for five additional five-year periods. If the tenant chooses not to renew the lease, it must <br />send a written notice to the City within 90 days of the expiration date of the initial term or any <br />renewal term <br /> <br />23 <br />Page of <br /> <br />