School District 56 Conestoga Option and Lease Agreement
Lender granted step-in rights on tower lease
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Description
The lease grants Toronto Dominion (Texas) LLC, as lender to The Towers, LLC, extensive recognition and cure rights, including the ability to step into the tenant’s position or obtain a replacement lease upon foreclosure or lease termination. These provisions secure the lender’s interest in the communications facilities ground lease on School District 56 Conestoga property.
Contract Details
Vendor
TORONTO DOMINION (TEXAS) LLC
Agency
Conestoga Public Schools, NE
Contract Type
FINANCIAL_SERVICES
Document Date
May 18, 2026
Contract Term
Lender rights tied to duration of Tenant Mortgage and lease term; may obtain new lease for remainder of term after termination if conditions are met
Renewal Info
Lender may exercise Tenant’s options to extend or renew the lease and must receive at least 30 days’ prior written notice before any renewal option expires to preserve these rights. If the lease is terminated or rejected in bankruptcy, Lender can request a new lease for the remainder of the original term by curing monetary defaults and paying Landlord’s reasonable costs.
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