Fred K Marchman Technical College Awards Facilities Contract to Vertex Development Llc (July 2026)

$22,500.00 per year base rent, escalating 2.5% annually; plus $6,000 per year for each collocating tenant beyond the first; one-time $15,000 tower Capital Contribution; one-time $15,000 Sublessee Collocation Fee per sublessee

FACILITIES

Initial term of ten (10) years commencing on the first day of the month following the date Tenant begins construction of the Communications Facility, with five (5) successive additional renewal periods of five (5) years each, unless terminated earlier per lease

Initial ten (10) year term begins on the first day of the month following commencement of construction of the Communications Facility. Tenant has five (5) successive additional five (5) year renewal options that commence automatically unless Tenant gives written notice of non-renewal at least thirty (30) days before the end of the then-current term. Lease automatically terminates if a building permit is not issued within four (4) years of execution. Holdover, lender cure rights, and right to new lease for lender are also specified.

Agreement