T-Mobile Proposal Summary

Form lease attached. This is a template to be used to prepare each of the 12 proposed leases and not a final lease. Before any lease can be finalized and signed, the exact location of the tower site will need to be determined and any special conditions for each site will need to be added. Special Conditions include: school preferences for tower shape, color, etc. $2,000 Payment due at signing of each lease. Due Diligence Period: Up to 6 months. T-Mobile may renew the Due Diligence Period for additional 6 months (12 months total) by paying an additional $2,000. T-Mobile can terminate a lease at any time during the Due Diligence Period with no obligation to make any further payments. Lease term is 5 years with 5 options to renew for 5 additional years each (total 30 years). Rent to the School District for each lease is $16,800 per year plus $4,800 for each colocator. Rent escalates 3% per year. Rent is payable yearly in advance. Payment of Rent commences at the earlier of (i) the date the construction permit for the tower is issued or (ii) the expiration of the Due Diligence Period. If T-Mobile has not terminated the lease, then T-Mobile will pay $25,000 to the school where the tower is situated along with the first payment of Rent to the School District. Upon the placement of any co-locaters, T-Mobile with pay an additional $25,000 to the school where the tower is situated. These subsequent one-time co-locator payments are not subject to the 3% Rent escalation and will remain the same during the term of the lease.

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