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1.8 Licensee's right to use the Premises is conditioned on obtaining and maintaining all federal, state and local permits, certificates, licenses and approvals from all applicable governmental or regulatory entities ("Governmental Approvals"). The Parties acknowledge that Licensor, in executing this License, is acting only in its capacity as the owner of the Property and not in any governmental capacity. Licensee shall not consider this License as a Governmental Approval required for the construction or operation of a wireless communications facility. 2. TERM. 2.1 The initial term of this License shall be five (5) years (the "Initial Term"), commencing on December 14, 2016 ("Commencement Date"). 2.2 Provided that Licensee is not then in default beyond any applicable notice and cure period of this License, this License shall automatically renew for two (2) additional, five-year terms (each being a "Renewal Term"), unless Licensee notifies Licensor in writing of its intention not to renew this License at least ninety (90) days prior to the expiration of the Initial Term or any Renewal Term. Licensee's license of the Premises during each Renewal Term shall be on the same terms and conditions as set forth herein except that the amount of License Fee shall be as provided in Section 3 below. The Initial Term and any Renewal Terns exercised are herein collectively referred to as the "Term". 2.3 If Licensee shall remain in possession of the Premises after termination of this License or at the expiration of the Term of this License without a written agreement, such possession shall be deemed a holdover use under the same terms and conditions of this License, except that the License Fee shall be 150% of the License Fee in effect at the expiration or termination of this License. Nothing contained herein shall grant Licensee the right to holdover after the Term of this License has expired and notwithstanding the payment of the License Fee during the holdover period, Licensor shall have the right to require Licensee to vacate the Premises at any time after the expiration of the Term upon thirty (30) days written notice. 3. LICENSE FEES. 3.1 For the first (I") year of the Initial Term, Licensee shall pay Licensor the sum of Thirty -Six Thousand and 00/100 Dollars ($36,000.00) ("License Fee"), which annual License Fee shall be paid in advance and in full at the beginning of each year. The License Fee shall increase annually during the Initial Term and any Renewal Term, effective as of each anniversary of the Commencement Date, by an amount of three percent (3%) over the annual License Fee paid during the previous year. If this License is terminated prior to the completion of any year of the Initial Term or any Renewal Term, Licensor will not return any prepaid portion of the License Fee for that year, provided, however, that if Licensor terminates this License pursuant to Section 9.2 below, or if this License is terminated by Licensee due to an uncured default by Licensor, then any prepaid License Fee shall be apportioned as of the termination date and reimbursed to Licensee. 3.2 The License Fee shall be payable without offset or deduction at Licensor's address specified below or to any other person or firm as Licensor may, from time to time, designate in writing at least sixty (60) days in advance of any License Fee payment due date. If, at any time, Licensee fails to make payment within five (5) business days following receipt of written notice 'lugg ,n Page 3 of 35 W % ATTY/AGR/2017.039/SPRINT LEASE AGREEMENT REV: 05-12-17 JS Yv