HomeMy WebLinkAbout03-10-2026 1st Amendment to Telecommunications Facility Lease at Laguna Lake Golf CoursePrepared by: Tiffany Gonsalves
After recording return to: Rita Drinkwater
SBA Network Services, LLC
8051 Congress Avenue
Boca Raton, FL 33487
Ph: 800-487-7483 ext. 7872
Parcel ID: 053-111-058
FIRST AMENDMENT TO TELECOMMUNICATIONS FACILITY LEASE AT
LAGUNA LAKE GOLF COURSE
THIS FIRST AMENDMENT TO TELECOMMUNICATIONS FACILITY LEASE
AT LAGUNA LAKE GOLF COURSE ("First Amendment") is executed this 10 day of
March, 2024, and is effective April 20, 2025 ("Effective Date") by and between
CITY OF SAN LUIS OBISPO, a California municipal corporation, having an address at 990
Palm Street, San Luis Obispo, CСА 93401 ("Lessor") and SBA 2012 TC ASSETS, LLC, a
Delaware limited liability company, having a principal office located at 8051 Congress
Avenue, Boca Raton, FL 33487 ("Lessee").
WHEREAS, Lessor and Sprint PCS Assets, LLC, a Delaware limited liability company,
entered into that certain Telecommunications Facility Lease At Laguna Lake Golf Course dated
February 1, 2005, as evidenced by that certain Memorandum of Agreement dated August 17,
2009, and recorded August 25, 2009, as Doc. No. 2009047880 (hereinafter referred to as
"Lease") and assigned to Lessee, f/k/a TowerCo Assets LLC, a Delaware limited liability
company, successor by merger to Tower Entity 4 LLC, a Delaware limited liability company,
pursuant to that certain Assignment and Assumption of Lease dated September 23, 2008, and
recorded January 27, 2009, as Doc. No.2009003794; said recordings of the Clerk/Recorder of
San Luis Obispo County, California, for Lessee's use of a portion of the real property
("Premises"), located at 11175 Los Osos Valley Road, San Luis Obispo, CA 93405 (hereinafter
referred to as "Land"), being more particularly described in the attached Exhibit “A"; and
WHEREAS, Lessor and Lessee desire and intend to amend and supplement the Lease as
provided herein.
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NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby, acknowledged, the parties hereto covenant, agree, and bind themselves to the
following modifications to the Lease:
1. Section 3. Term, of the Lease is hereby amended to include the following:
In addition to the Renewal Terms as referenced in the Lease, the Lease is hereby
amended to include four (4) additional successive Renewal Terms of five (5) years, each
of which shall be deemed automatically extended unless Lessee notifies Lessor of its
intention not to renew the Lease at least sixty (60) days prior to the commencement of the
succeeding Renewal Term. The first additional Renewal Term shall commence on April
20, 2025, upon the expiration of the Renewal Term expiring on April 19, 2025.
In the event Lessor determines in its reasonable discretion that the Premises are required for
public purposes, during each Renewal Term Lessor may terminate this Lease upon providing two
(2) years' prior written notice. Following such notice, the parties shall negotiate in good faith to
identify a potential relocation site within the Land. Should the parties fail to reach an agreement
on a mutually acceptable site, or if Lessee is unable or unwilling to relocate, this Lease shall
terminate automatically upon the expiration of the two-year notice period.
2. Section 4. Rent, of the Lease is hereby amended to include the following:
A. Retroactively to April 20, 2025, Lessor's Annual Rent shall be increased to the total
amount of Fifty-Eight Thousand and No/100 Dollars ($58,000.00).
3. Section 20. Notice, of the Lease is hereby amended as follows:
4.
LESSOR:City of San Luis Obispo
990 Palm Street
San Luis Obispo, CA 93401
LESSEE:SBA 2012 TC Assets, LLC
Attn: Site Administration
8051 Congress Avenue
Boca Raton, FL 33487-1307
Re: CA45998-A/Laguna Lakes
Section 23. Assignment and Subletting, subsection E1, of the Lease is hereby deleted
in its entirety and replaced with the following:
Lessee shall pay to Lessor revenue share equal to fifty percent (50%) of all revenue
derived from new narrowband or broadband sublessees using the Premises ("Revenue
Share"). Notwithstanding the foregoing, Revenue Share shall not apply to (i) existing
sublessees New Cingular Wireless PCS and T-Mobile West, or (ii) any new sublessee
that enters a separate ground lease directly with the Lessor for its equipment. All
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