14 - Ground & Tower Lease Agreement with New Cingular Wireless for East Water Tower

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holdover rent on a month-to-month basis at the monthly rate in effect for the preceding year increased by one hundred fifty (150%) until such time as Tenant surrenders the Leased Site to Owner. Should Tenant remain on the Leased Site for more than twelve (12) months, beginning on the first of the thirteenth (13'h) month, the rental rate shall increase by five percent (5%), and shall increase by five percent (5%) for each year Tenant remains holding over on the Leased Site. F. TENANT shall pay OWNER a late payment charge after notice is given to TENANT equal to five percent (5%) of the late payment for any payment (including rental payments) not paid when due. Any amounts not paid when due shall bear interest until paid at the lesser of the rate of two percent (2%) per month or the highest rate permitted by law. OWNER shall invoice TENANT for any such late payment charges and interest incurred. OWNER shall invoice TENANT for all late payment charges and interest charges within one (1) year from the end of the calendar year in which the charges were incurred or such late payment charges and interest incurred shall be deemed waived by OWNER. The late charge will begin to accrue on the first day after said amount becomes due and owing regardless of whether Tenant pays the past due amount prior to Owner's giving notice. G. TENANT may update or replace the Antenna Facilities from time to time subject to the prior written approval of OWNER, provided that the replacement facilities are not greater in number or size than the existing facilities and that any change in their location on the Leased Site is approved in writing by OWNER. TENANT shall submit to OWNER a detailed proposal for any such replacement facilities and any supplemental materials as may be requested, for OWNER's evaluation and approval. However, if TENANT proposes to install any additional Antenna Facilities other than those shown and listed on Exhibits "B" and "C" (excluding maintenance, repair or replacement of existing equipment), OWNER specifically reserves the right to deny: (1) the updating or replacement of existing facilities with antenna facilities that are greater in number or size than the existing facilities identified on Exhibit "C"; and/or, (2) the placement or relocation of existing or replacement facilities in a different location or orientation on the Leased Site than shown on Exhibit "B". OWNER further reserves the right to increase the monthly rent in the event that TENANT obtains approval to relocate and/or increase the number or size of Antenna Facilities on the Leased Site, such rent being subject to the same escalation during Renewal Terms. 4. USE OF THE LEASED SITES A. TENANT shall use the Leased Site for the installation, operation, and maintenance of its Antenna Facilities for the transmission, reception and operation of a communications system and uses incidental thereto and for no other uses. By taking possession of the Leased Site, TENANT accepts the Leased Site in the condition existing as of the Commencement Date of the Lease. OWNER makes no representation or warranty with respect to the condition of the Leased Site and OWNER shall not be liable for any latent or patent defect in the Leased Site. OWNER may permit others to use other portions of OWNER's Property (including the Tower), provided, however, TENANT shall have the exclusive use of its Leased Site and Antenna Facilities, equipment shelters and locations on the respective Tower as shown on Exhibit "B" hereto. TENANT may erect and operate additional Antenna Facilities in accordance with the terms of this Lease.