existing lease for tower on my land that terminates in 2019.
by Jeffrey Veigel
(Rapid City, SD)
Telephone company wants to renegotiate a payment for the remaining years of the lease and in return for this they desire to extend the lease for an 10 additional years. Thus, to terminate in 2029.
Such agreement would extend the lease 17 years from today and I feel that is too long.
My desire is to terminate the current lease immediately which expires in 2019 and write an entirely new contract which would be much more to our advantage. The company has been paying us $400 a year and I consider this to be exploitative. They are offering $3,000 per year until expiration of current lease and then $4,000 for the 10 year extention.
The tower has Verizon service, Homeland Security and internet service and possibly television signal. The company provides us with no informaton about what services or quantity of business that runs through the tower.
I desire a term to be no more than 10 years in order to revisit the value of the tower with regards to new technology. It is also very important for me to have the 3% yearly rise in order to protect against additional business that may or may not occur on the tower.
Do you think it is possible to terminate the current lease and then design a lease much more in our favor? I can assure you our current lease is not in our favor with a fee of $400 per year. The company also did not adjust the price upward as is written into the contract. In other words they are in breach of that element of the current contract.
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