Common Contracts
1 similar Site Lease Agreement contracts
RE: SITE LEASE AGREEMENT – ECO-SITE, INC.Site Lease Agreement • June 4th, 2015
Eco-Site, Inc. has submitted a proposal to enter into a site lease agreement with District 211 for a cellular antenna location at Palatine High School. Eco-Site will agree to pay District 211 a total of $845,600 for a twenty-five year site lease agreement at the school. Lease payments will be paid on a monthly basis and increased by 2% annually for the duration of the agreement. The initial term of lease will be ten years with options to renew for up to three (3) additional five-year terms. Eco-Site is in the process of securing approval from the Village of Palatine to construct the proposed tower and antennas. As part of the lease agreement, Eco-Site will construct an equipment shelter at the base of the light pole that will be designed to complement the existing surroundings. In addition, this lease agreement stipulates an option for Eco-Site to add a second carrier on the light standard, which will produce additional revenue of $384,364 over the twenty-five year lease agreement. At
