Board of Trustees

ESSENTIAL TERMS OF TOWER LEASE AGREEMENT WITH T-MOBILE (lease agreement language still being reviewed by carrier counsel) 1. NEW TOWER – T-Mobile will be relocated from the John Street Water Tower to the new Monopole Tower with intention of completion by September 1, 2026 2. COSTS – T-Mobile agrees to pay 1/3, an equal share with AT&T and Verizon, in the cost of construction of the New Tower and the Coating Costs of the John Street Water Tower 3. TERM – 5 year initial term, with three additional five year renewals 4. RENT - $2,600 per month, with incremental ground space rent of $5/per month per square foot if Tenant uses or occupies additional ground space; at commencement of each Extension Term, monthly Rent increases by 10 percent over the applicable Rent during the previous five years ESSENTIAL TERMS OF TOWER LEASE AGREEMENT WITH VERIZON (lease agreement language still being reviewed by carrier counsel) 1. NEW TOWER – Verizon will be relocated from the John Street Water Tower to the new Monopole Tower with intention of completion by September 1, 2026, bur full relocation completed within three weeks of Verizon obtaining site control 2. COSTS – Verizon agrees to pay 1/3, an equal share with AT&T and T-Mobile, in the cost of construction of the New Tower and the Coating Costs of the John Street Water Tower 3. TERM – 5 year initial term, with three additional five year renewals 4. RENT - $2,350 per month, with incremental ground space rent of $5/per month per square foot if Tenant uses or occupies additional ground space; at commencement of each Extension Term, monthly Rent increases by 10 percent over the applicable Rent during the previous five years