FACILITIESAPPROVED

Lake Dallas Independent School District Agreement Option and Ground Lease Agreement 2026-06-10

School District Leases Land for Wireless Tower to Diamond Towers V LLC

$2,000.00 (option consideration); $1,000.00 for each renewal period; Rent: 30% of gross receipts from first/second Carrier subleases, 40% from each additional Carrier sublease, monthlyLake Dallas IsdDIAMOND TOWERS V LLCJune 10, 2026

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Description

Lake Dallas Independent School District granted Diamond Towers V LLC an exclusive option and ground lease for a 50'x50' parcel at 401 Main Street, Lake Dallas, TX. The agreement features a 24-month option (extendable 2 years), followed by a 10-year ground lease with up to 25 years of automatic renewals, and rent based on 30%–40% of gross receipts from carrier subleases. The lease is for the construction and operation of wireless communications facilities.

Contract Details

Contract Amount

$2,000.00 (option consideration); $1,000.00 for each renewal period; Rent: 30% of gross receipts from first/second Carrier subleases, 40% from each additional Carrier sublease, monthly

Vendor

DIAMOND TOWERS V LLC

Agency

Lake Dallas Isd, TX

Contract Type

FACILITIES

Document Date

June 10, 2026

Contract Term

Option: 24 months initial, plus up to 2 additional 12-month renewals (maximum 48 months total). Lease: 10 years initial, plus 5 renewal terms of 5 years each (potentially 35 years total).

Renewal Date

2071-06-10

Renewal Info

Option: May be extended twice in 1-year increments for $1,000 each year. Lease: Automatically renews for up to 5 additional 5-year terms unless lessee gives 90 days' notice before expiration. Month-to-month holdover applies if not terminated or renewed as specified.