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Enclosure #2 <br /> <br /> TIllS DEED OF LEASE, is made as of the 'Z' q y ~ 1999, by and between <br /> · da of ,,.2_-t/a( <br />PIEDMONT TRIJST BANK, (the "Landlord"), party of the first part; and the CITY OF <br />MARTINSVILLE (the "Tenant"), party of the second part; <br /> <br />WITNESSETtt: <br /> <br /> For and in consideration of the mutual premises and undertakings heroinafter set forth, <br />the Landlord does hereby let and demise unto Tenant the premises heroinafter described upon the <br />terms and conditions set forth in this deed of lease: <br /> <br /> 1. The Demised Premises. The demised premises will consist ,of the following: <br />ROOF SPACE FOR THREE BASE STATIONS AT 1 ELLSWORTH STREET, <br />MARTINSVILLE, VIRGINIA. <br /> <br /> 2. Use of Premises. The Tenant shall use the demised premises for the <br />establishment of base stations and other purposes directly related thereto and for no other <br />purpose without the express written consent of the Landlord. <br /> <br /> 3. Term. The term of the lease shall be for five (5) years, beginning March 1, <br />1999, and ending February 28, 2004. Tenant shall have the option to renew this Lease for an <br />additional two terms of five y.ears each, provided that Tenm:t gives written notice to the Landlord <br />no less than thirty (30) days prior to the scheduled termination of the original term or a renewal <br />term, as the case may be, of its desire to renew such Lease and this offer of renewal is accepted <br />by Landlord. <br /> <br /> 4. Rental. Tenant shall pay a monthly rental of $150.00 per month for the <br />Electrical Department base station; $150.00 per month for the Water Department base station; <br />and no charge for the Fire and Safety base station for the original term of this Lease, payable in <br />advance and due on the first day of each month, beginning March 1, 1999. Rental for any <br />renewal term shall be negotiated prior to its commencement. <br /> <br /> 5. Services Provided by Landlord. At no extra charge above the rent heroin <br />provided for, Landlord agrees to furnish "UPS" service for the premises heroin demised, but is <br />under no obligation to continue or maintain this service. In the event that UPS service is <br />discontinued, Landlord with give thirty (30) days notice to Tenant. <br /> <br /> 6. Responsibilities of Tenant. The Tenant shall be responsible for any necessary <br />repairs associated with the demised premises or the systems servicing the demised premises <br />which are occasioned by the actions of any of Tenant's employees or visitors. Tenant shall be <br />responsible to return the premises at the end of the lease in the same general condition as when <br />received, reasonable and customary wear and tear only excepted. <br /> <br /> 7. Insurance. Liability and casualty insurance coverage protecting both parties <br />must be in place under a blanket insurance program. In the event such situation changes during <br />the term of this Lease, the parties shall execute an agreement setting forth the respective <br />insurance obligation of the parties. In any event, each party hereby .waives any right of <br /> <br />1 <br /> <br /> <br />