HomeMy WebLinkAboutExhibit I - System Site Lease Agreement ( T
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3YSTEM S1TE LEA3E AGRL+'E11�1T
1'Lis SY3TEM SITE LEASE AC3�REEMENT (tbis " is made smd �d .
�into as of Sepb�nber 2'�, 2{115 by and bd,w�een New Euerg�+ Equity, LLC, a Mmyuand Limited
Liability CompenY �"�'�, aad Rtalz Properties, LLC a lV� Limited Liability
C�mp�nY ("L�"}• E.ach of Les�r and I,e�oe are som�etimes r�en+od �n as a `�i ' and
c�olla�iva�y as the`�" �
' 'WI�REAS, Les�oa�is the o�vner of certain r�al property loca�ed in Section 8,Tovvn�ip
124, Rauge 029, PID 31.20672.0000 60.57 �res 8t 31.2A691.00d2 12A.66 acres, oona�ting of
-185.23 acxes, �s m�s+e particulffily�on�at�ched hc�o(the`�j�"�add
w►l�ich in�cfides d� area ou whic,�h �e Systean will be instelled es dep�cted aa � (t�e
` 'r jerx si1�e"�;
WH�3R8AS, T,esaee is the developer, ow►nes, and opexe�or of p�hotovoltaic ealar enacgq
8enera�ion equi�ent at�d faailities;
"W��iS_Les�ee shall have c�rc�d a�lmr electr,ic gan�ing fac�ity as sat fo�th
on Fxhi'b�t C the(�`Sys�o�'�,
� NOW, THERhIR'ORE, in consid�ation of the promisos aad the mutual cove�ents and
ag�e� 1�ein c�ntained, a�d otl�r good and vatuable ca�sid�, d�e receipt and
sufficiency of whirh ar�hereby acknowledged,Lessor and Lessee h�eby agree a4 follows:
AGREEMENT
i. DEFINITIUNS. Capitalized terms usod but na�t de5ncd l�ein shall have the meanings
assignod to the�n hearein.
2. LEASE,
2.1 �. L,essor hereby lea�es the Proi� S�te �a I� in accordsnce with the
berms and conditions and for the putposes �et forth herein. The Parties �nt�d thai tl�is lease
create a valid and p�+esont i�tGrest in the Projcet Site in favor of Lessee. The�+efoi+e, tbis •
Agreement is an i�nGer�t in aryd encumb�nce t�pon the Pra►ject Sit� whitch st�ll nm wi@t t1�
land and shall�be b�nding u�pon tt�e Project Sitie aad Lessor and irs s�rs snd assigns f+n�tl�e
be�efit of Les�e arid its s�woes�ors and assigns.
2.2 �. Tlu �erm of this Agreement shall be for 25 years c,onou�encing on the
Effective Date(the`�'�-
2.3 F� Ternn. Les�ee may renew the Agreemmt far tvvo additiooal t�tms of
five years each. Lessee shall exercise such renewal options, if at ail,bY SivinB written.�to .
Lessor nat less thaa ninei7r (90)days prior to the expira�ion of t�e Tenn ar Extended Term. Th�e
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Ex�ended Term`shaU be at the rates set fartb. below a� otlurwise upoa the a�me covenants,
condilions aad pmvvi�io�as as p�ovid�d in this A,greem�nt.
� Z.4 �aym�t to Lessor. L�cssee shail �ay to I,essor as rent an initial annual sum of
Une T4ou�nd Doll�rrs [Si,AUDI Per aae ("R,�n�') within fif�t (15) days after the 8#�ective
Date. Th�e total aanual paymeat will be�roCrmiyLad upon completioa of the initial�t�gi�of
the System which will debermii�e the number of a+cres required �or t�Proja:t Site. The initi,att
annual psyment will be ac��wledged dmaugh aa�to this Agr�t.�,Rent
will escalate amivally, Qommencing with the first anniversmy of the lea�e Ef�active Dabey bY
1�o Poiet Five percent[2.S°�i.].
2.S j��.L,assee s�il pay to Lessor wit�hin fve{S)days af exe�ul�of thia
Agraement tl�e oao-time sum of�O�e Tb�tnd Dollarg[9i1,�00]C`Deposit"�•Depos�t is to be
held by Les�or as c�sidr�tian fo�r t�e time period required tv effect this i�eese puur�m�t�
Section 4.5 belaw.Should S�etion 4.5�ot be setisfied aad this L.eese is�,t�at I.e�ar
sisai�retain�e Deposi�If tl�rnugh tbe actions t�r in�ctians of L�or,_this Lease is terminated,
d�n the I.essor aha.0 P�P�Y s+eium tt�e Deposit to Less�e.
Z.S Perrnit�bed Uses. Les�ee shall hsve the right t�occupy e�d usa tl�e Prajeet S3�e fnr
salar en�rgy a�nv+�sion,for the�collection and transimisszon of electric power,and foc�rela�ed and
i�idental purpos�»s at�d activities (collectively, "Q,�+�'� including, but�t l�uitad to, t�e
construction„ instaltation, improvement, reloca�ion, o�c�n, maintes�ae and repan� of the
Systan and r�nwvai of th�e System.
Z.6 Les�a�'s Exm�cise of Rigl�s. Lessee may constcuct and install the Sy�n on the
Pr�mises in the �onm�n�r Les�ee c�os rc+easonable and apprap�i�be; Pmvi+iod, hovu�v+e�, that
Lessee sl�all not unreasonably int�fere with Lessflr's ux, operation, or main� af tl�
Premises. The System s�all be instatled within the areas of�e Project 3i�De.
x.7 $E�B.'�
T.8 �'�La.�+dovv�n ArEs. Lessar s1sa�1 p�vvide Le�soe su�t spsce o�the
Pr�anai�s for tt�e tempa�rary storage and stagiug of#oois, mate�nisls.m�d equip�t r�b1Y
nec�sarY durin8 instaIlation aad aay main�enance,rePau'>rePl�ceme�ar�wva1 of the Sys�oem,
provided that I.essee shall uae commerciall}► reasonable efforts to minimize disru�ian to �
Lessaa�'s operations. e�d provided further tt�at Lessee u�ersta�ds and acknowledges�ut space
is limiLed at 13�e Prmnisea. Lessor and Lessee shall coa�dinatt and vaapera�o in dGtoimining thc
smount of s�uce a�specific porti�of#he Preanises nece�ry for such pitrposes.
Z.9 Notice. Nofi�itthsta�din�anything to th�a contrary in this Agi�,Lessee at�ait
be permi4�ed to accesa the Premises{ii)tw�ty-foia(24)hours a day,seven('�days a woek for
emergen�c�'Pu�rposes as reasonably determined by I.essee.
3. EASEMEN'1'S. .
3.1 Aocess Ea ,s�ment_�d U,�,�. Lessor grants Lessee a nonexcins�ve ea�+snt
for access and use of t1�e Premis�ea, on, under, over,and acrass the Premises and aay athe�real
p�perty adjac�nt to the Premi�es and own�d by Leseor(coilectively,the ,g,�"�,for
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the purposes of locating,inatalliseg,ope�ing,maintaining,imPl+oving,r�iring,reloc,ating,a�d
removing tbe System on t� Premises (the "�"�. The Use Rights include d�e right of
P� �, and ingress to and egm�s fi+o�the Sys�em on, crve�, and�cross t�e Easeamextt
ArBa during t�Terrn and P�ded Tenn,an�d shall swvive for a period of ane huadre�d eiglrty
(180)days following tt�e termination of this Agreemeat for the purp4ae of r�m+mring thc Sys�em,
Wi�out �imiting the foregoing gra�nt, Les�or covensnts that the Usoe Rights may be t�sed to
�hieve all the purposes sst forth in this Agree�t.
3.2 �.� �+,ent • � ��,y � Lessee � �lar easea�t on, ov+�r, and
above tha F�asemant Area far the fiee passege of solar r�dia�n to ths Sysbem. Les�or ah�ll niot
obst�t, or silow any tena�# or assi,gnee of Lessor tn obst�t, tbe passage of dinect solar
radiation a�ross tl�P�Area to the Syst�m. Trees, sttv�ctum�, and�pr�ve�lor,ated
on the F,a�r�t Area as of tl�e Effiective Datie ghatl be sllowed to remain,and I�may no�t
�� �' r�oval; P�'ovided #hat I.essee may requn+e t�at any ti+eas ar oth� vege�iOn be
Plvned or trimua�ed tv the point tl�at they do nat obs�vet tha pe.�sage of direct golar�on
acaoss the Ee.s�t Area.to the System to a degree gre�r than aan the Eff+active Da�e. Le�ssor
sha11 not pl�ce or plant ar►Y tr�s, st�pu+es, or improv� on tl�e E�t Area afl� �e
Effective Date that may, in Lessee's sole jt�dginent, i�npade or in�+e with the passage of
direct solar radiation to #he Syatem, unless Lessor bss rxeived prtor writtea� approval fi�o�
Le�se+e. Les�ee and I.essor fiutl�ea agr+ee to exearte and i+eoord sud��ar add�nda to
� � � �Y be �4� under applicable State or local law � evid�ce thc aolar
ease�ent grantied in this Section
4. RiGHT3 pF LF�SSEE ANp CpNDTTION PR�GEDENT.
4.1 �lar Resow�ces. I.esgee shall have the sole and eloclusive r�ght bo caatve�tt ali of
the sol�rasozu+ces o� a�d to co�duc� Ope�atioms on, tl�e Pretnises. I.esso�ahall not gr�ant anY
rights in the Premisas pmporting to permit otb�rs tn oo�uct Operatio� a� the Promises in
derogation of Lesaee's so�e and exclusive rights and privileges �der. Without tl�a porior
written consent of i,easee,, I�or shall not(� waive any right availablc to I.esgor or grant aa3'
right or privilege subject to the consent of Lessar by law or cwntrsat,inclwding without limita�ion
any environmental regulation, lanci uae ordi�ce, or umiag regulation, with respect� �k
�uirem�ts,or other restrictiaa�s and von►ditions re�Cting the plaoemeat of tl�Sysbem oa�the
Prennises or(ii}grant,c��fnm,�vvl�dge,reco8mze,or�ccluie�e in aaY right claimed by sny
other Persoa to conc�uct Operations on tt�Premises,aibd Lesaor agr�to give I�e,�ssee nolice of
auy such claims and to coop�ate with Lesaee'vn resisting a�d disputing�ch cl�ims.
d.Z S'�. Lessoe shaU hsve the right to erect, modifY, and mainiain rea�anable
si�gn�ge on the Premises with r�poct m the Systen and to L�e's im�sts the�n.
4.3 F�,fr�P.Y,�t of p� i�.Righ�t - Lessee shall havc the rig� ta enforoe Lee�or's
rights w�ier applicable la.ws p�+otecting salar en�er83► sysbems from obstr�ction. Les�ar s�all
cooperate with any efforts by Lessee to�facr.e such rights.
4.d �L��e�+�ject i p. I,essee shall have the riglrt to sub-divide d�e Pmject
Site to facilitate the in,statlaxion of multiple Systems.L.essor 1�ec+eby consent�s to any sub.division
aad will eac�ecute ali docum�ents requirad by Lessee to accomplish th,e sub-division.
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4.5 Condition Prac�nt. This Ag�eement is subject t�:
4.5.1 the I,e�ee r�c�iiving s�noval,as d�t�rmined in the sole�of d�o
Le�e, from the State of Minne�ota and 3�e1 Eaergy to install a Camm�nity Solac Gendem�n
tt�e Pmject Site.Tlris approval maY take u�o eighteen(18) manths ar��eom tt�e execu�ion
of t�is Agreemen� Upaa receiving approvat for the I�+oject,Les�e wi�l natify I.e�s�c>r in writing
and the ciaate ofthis s�otianadan sh$11 be the'"Effective Date".
4.5.2 tl� I.cssae confirnoation sr�td aoa�sn�e of any real pmp�r�q tax inc�e
as contemplaxad ia Sectioa 6.15 l�erein.
S. DESIGN A1vD CONSTRUCTIDN OF 3YSTEM. �
5.1 D�'i�sud Canshvction. Le�ar here�y con�ts to ii�e constn�cNan of tl�
System in �corda�ce with the plans �d specifice�io�s set ftncth an the at�eched �; it C.
Los,see sball causc its conttactors Lo c.omply with Lessflr's �+easonable and cu�nsrY �Y
�c�equn�r�ts and to coa�dia�te conslxvtction af the System with �ar so as to r�a�ably
minimi�e di�on to the Premises a�d bo Lessar's normal operatio�s a�d activities i�+eon.
Lessee shall not r�lcase H�ardous Matariais on th,e Premises. As used in ihis A$r�eut,
"Haz�rdous MaU�ials"means anY s��,material,wast�,Pollu�t,rn'��t listed or
defined ss hazardous or toxic �any applic�ble �aw, �d asb�tos and petroleum, iucluding
cn�de oil ar a�ry Sactian thereo�natural gas liquids,liqwefied n�al gms,o�syrnth�tic gas usabk
for fi�l(ar mixhu�es of natw�l gas and such sy�ic gas).
5.2 RESER�VED
S.3 U�ctn Tennination, Upon the bexmination or �n of t�is
Ag�+eement for auy reason, Lessee shall, within o�himcfired ei�hty (180)days afl�er d�e dafie of
exgitra�ion,nmove the Sysbom fi+om the Prctniscs, providod that Lessoe s�all�t bc requirad to
remove pvc conduit tl�t has besr►install�d below gr�de level. R�nc�val of the Syst�m shall be at
the cast of Less�.R�moval of the Syst�n�hhall be in accordance wrth applicable fedearat, stade,
and local laws,o�dinances,arbd regvlations. �
6. TS�PREMIS�S.
6.1 �oni�mation of�1C ,arshin. At thc r�q�est of Lessoe, Le�sor sha11 obtain
executed and acicaowledged instnune�s and swch other docume�ts as Lc�aee or Leseee's title
�P�Y�Y�9�to�rr�Lessa►r's owna�rship of tl�e P�emi�s or t4 camplete or evi�
the full grantiing of the teasehold interest ia the Project Site as int�nded by t&is Agree�ne�tt -
b.2 �. '
6.2.1 � 'Qg. T,essor shall cooperate with Les�ee to obtain a .
Sabcndination,Non-Dis�urbance and Attormn��t Agreement(an"�'�finm each litnholder
which provides on teims reasonably acceptable ta Lessee that tl�e lien�d nghts of th,e lienholder
shatl be subardinate to tltis AgreemenY. Lessor will also obtain any necessary cons�nt and/or
SNDA in favor of Les�ee ac�d oa terms rea�onably a�cceptab�e to Lcssee fi+om a�r and all cntitics
havis�g a p���so3y interest in the Premis�s.
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b.2.2 Notic�e to Premi.4es 'mholders and Re}ease,. Lessor shell give effie�tive
notice of Lessoe's ov�mership of the Syste�m a�d ibee Sysban's �as pe,�onsi pmoperty tv all
P�� �S an int�+est m or anY �S� Pledga, lien (inch�ding �cs', laba� c�r
matarialme�n's lie�ns), cLarge, eoanny inte�st, or encumbra�ca of any nat�n�e (coUoctively,
"�"� upon th�e real p�o�tY a�d fixtin+es tbat me part of th�e Premises. If th�re is any Liuen
against�u Premiaes that could xeasovably be co�s�ed as P��Y��8 to�e 5ysbam
as a fixture of th� Premises, Les�or slmll obtain a disclaim� or rdc,a�e of such LiGn. I,es�or
conse�ts to tl�e filiag of a di� of the Syst�am as a fi�due of�e Pr�nises in t�e o�oe
whec+e reat�records are cu�tommcily filcd 'm the juriedictioan of the P�+ani�s,and aqy athoar
filin8 b3' I.essee �n a p�►bli�c office regarding its own�orsbip of t3�e Systemn deeaned nec�+ or
$PP�bY�,and Lessor hereby a�poi�Le�ee as its ageat with r�+ding�o arty snch
filing aud aa�thori�s Lessa to�mquirod actions on Lessor's behalf t+equirad fat a�ch�linQ.
6.2.3 Syste�m Li�s. I.e�or sball not di�►or ind'n+ectly allow aqy L�n on or
with�to tt� Sys�b'Y,t�prnugh or under Lessaur. If Lessor beoomes awane of a Li�oa on
�e sY�m bS'+thnough or u�Cr L�asor,I.e.�or ahall p�+omp�ly give Le,�ee wtitbco natice of t�ch
Licn and shRll tako such action as is necessary or ep�xopziate to hev+e sach Lien disc.he�ged a�d
re�ved. I.essor shall i�de�nnifz► l.es�oe ag�ainst all i+ea�nnabk c�ts and e�cp�es ('u�cludint8
r�asoo�aable attorneys'foes}inc�nred'm diachei�ging a�ci releasing a�ry�ch Lien
6.2.4 Pre�mi�as Liena Las�e shall not dim�ctly �ind'n+actly allow aqy Li�n by,
through ar unde� Les�ec, an or with respect tio the Premi�os or aiYy inte�res#tbuen�in, ex�ciuding
Lcssee's leasehold i�rest crea�d pursuaat to this A�t„ or say otl�er as�t of Lesaor,
inc2uding, witl�out limitation, aay Liea atlsiag �om or relating to t1� �on, own�bdP,
maimenan�ce or ope�tion of the System by I,essee. L,easee shsll c�fcnd a�in�de�ify I.essor
ag�nst all oo�ts a�cl a�s(i�lt�ding reaaonable atbo�neys' fees aad court c�ts at trial and a�
aPPeal)�t+ed in disc2uuging and releasing aay su�ch Lien.
6.3 �jQy�t Lesaee shall enjoy quiet �d pe�oefial �e, er►joYm� at�
possession of the 1'reject Site, fi�oe from any claim of any �tity or person of superi� tifle
�ereba without hin�unx to or urtcrfr�uoa with or moles�ion of L.essoe's quiet e�goYtnettt
�r�Of, a�a � I,�sor nor any p� �laimins �3', � ar�r�r I�o� ahau a�b
�'s quiet and peacxful u�ee,�,iaymmrt a�d Po�aeasion of the Prsject Sfte.
6.4 No I�rfe�nce. Lessor hereby agrees, for itsel� its a8�. �Pb'Y�
repr�ves,s�rs,aa�d assigns,tb�t it will mt uuti�te oar oanduct ac#ivsties that it knows
��nebly should know maY datnaSe,impe�ir, or ott�rwise adversely affoct the 3ysbem or its
fi�nctions,i�clud'uog wi�out limitation activities that may advexscly affiect the Sysb�m's ax�n�e
to sunlight. Leagor fiath,er covenants fiar itself at� it� a8e�, �P�Ye�• ����
sticces�cu�,and assigns that it will�t(i} interfare with or prohibit tl�e fi+ee and c�mple�e uee and
enjoym�t by I.essee of its rights �xbod widar tbis Agreeme� (ii) take aay ackio� tLat will
inte�rfiere wit�►the availability and acoessibility of solar radistioai over and above tl�e Promiees;
(iii) tak,e any �tion d�at will or may interfere wi#h tt� traa�niasion of electrical enaergy to or
fi�om the Premi�es; (iv)take any�ction t�hat may impair L,cssee's�tio�e Fremises for the
P�'P� �ified in this Agree�een� (v)Piant or maintsia sny �tion or ea�ect ur main�in
�Y���'�,��$�Y��a sl�dow on t� Sys�am;ar(vi7 tak�c a�y act�on t�at
may impair I,essee's eccess ta emy portion of the System.
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b.5 Svstem Pronertv of Lessee• T �far nf tt,� Prpmises. Lessor ackn�wledges and
a8roes tha#.Lessee is the exclusive ovvner and ope.rator of the Systena and all equ��ne�t
(ir�lvding, but not limitec#. to, photQvoltaic modules or p�uuelsy invertars, met�s, wire, dat�R
rr�onitorin8 equiPmer�t,at�d cabling},oomponemts and moveRble property o£Le�at�ed to or
u�ed 'm the operation of the System,that no�rtion or component of the 3yst,em�is a$xture,snd
that in tt�e ev8nt that the Premises are a41d, leas�d, assignect,mart,�a8ed,pledged, ar ath�rvvise
alie�nated or encumbcred(a"�,�,s�h Tr�c�cfer shall not attach to or affet�the Sys�n,or
Lessee's owner�ip rights to�kbrc Syste�n.
6.6 �r of Pra�nises. Les�or sbali�vt Transfer all pr any porti,on of the Premises
unless t}�e�agrees in writing that its intsr�st in the Pnemi�es is subjoct at�d subordinat� .
in all i+aspects to i�e tec:ms of this Lease. Le�ssor shall�ive I.essee at le,ast sixty(60)days'Paior
notice of any Transfier of all �any p�tion of the Psr�uises. An�y su�ch notice shall i�r the
tran.�ferte,tbe portian of tl�e Premises to be�er�d,and tbe patoposed date of the Tra�r.
6.7 RESERVFeD.
6.8 3ystem�. Les�e may instalt atl socurity�ti�at Lessec,in its�lc
discretion, dtte�min�are or tnay be reaso3a�ably necessary for the Syst�n. Such measm�es may,
but will not n�y,inGl�de warning sig�s,f�„b�rbed w►ire+c�osad a�xi loc.�ed gaties,and
ot�r m�uros apprnp�iate and reasonable to prbt�ct �g�inst dsm�age or deshuctian of the
System ar i�ury or damage t�persons or pmperiy resulfiiag finm the System and Oporati.ons.
6.9 $�SERVED
6.2A �.� ' � • Du�ing the Term, Les�ee shall, �t Les�ee's �ale cast,
mair�isin the Systean, the Pmject Site and all are�s of the Premi�es ue�ed by Lessee In ttr�
Operations,in accorden�oe with applic�ble Ltws at�d Prt�dent Op�rating Pr�ices.
6.11
6.1.2 �Y��1S�a�. In the event af an emcrS�Y��'�'�tt�t Lessee�
retocate the System,at Less�r's e�se,to aaother suitable location on the Frem�ises,pmvided ,
tb�at (a) ifie Partie� aha,El u�t rcaeonable Cfforts to perform the relocation ciuring the months of
October through Msrch and out�ide of narmal business hours a�d{b)Les�or ahall pay bo I�soee
lost iucome and tnvironmental attnihute Damages fc>r the periiod during which the 5ysbam is �
dis�connocOed in oontloctian with euch rzlocation.
6.13 Ciean Conditiaa�. Les�ee sh�llll not wre,asonably clu#t�r the Project Site or th�e
Pr�mises and shall oollect aad dispose of sny and all of Lessee's refuse a�d tcash.
b.14 �. i.essar shall pay when due all real property taxes auoci �ts
po�s�aarY int�i�est taxes,b�siness ar Iicense tax�or f�e,s, service p�ynau�ts in lieu of a�ch taxes
ar fe�,annual or p�iodic lic�nse or us�a fees,excises,asscssments,bonds,levies,f�ar ebarges
of as�y ki� which �r�e assessad, ievied, charged, confirmed, imposed ar levied against tha
Premises by any governmental body or public authority.
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b.1.5 " . Slmnid the installstio�of the S�sbcm requ�re t�e I.esso�tio
re�one the Premises und�r Sta�e�Local laws,ordinauces ar regeelatio�s, then tlu I.essoe shall
P�Y �� eny increase in real property taxss an�d asses�netit�over the amoumt 1�at would
o��vuise b�clue in Soction 6.14 above.
7• REPRF.SENTATIONS AND WAIi;RANTIB;S
�1 Lzss�r rcp�ts ancl warra�s to Les�oe tl�
7.1.1 Le�or has thc rtqmsi�e a�pora�e,ParinershiP or Iimitod l�abitiiy�comp�p►
e�citY to ent+eer intn tl�is A�reement aud fulfill its obligatia�s h�rew�,der,that tbe e�ceartion an�d
d+elivery by it of dris Agree�ent and tl�e peaFormance by it of ita obli�ations h�mdCr hav+e beem
ctuly e�rthori�ed by all requisite a�ction of itg stockholdas,p�rtrieas or�b�s, an�d 1ry its bo�snd
of direct�s or oth� goveming 1wdY, and tl�t tl�e ent�ring ir�o of tbis Agrea�me� aad t�e
fi�lfillmeat of its obligatians � does nat ca�rave�e any law, st�ute or oo�l
obli�ation of L,essor;
7.12 this A�t c�nstitutes I.c,s�o�'s legal, valid and bindimg oblig�ion
enfo�able against it in aoeordaac�e with its t+eims, excepR as may be limitioa by appiicable
�P�Y. �solvency, t�rSani�tion, moarstorium, and ottrer �lavvs now a�ha�e�in
� �BFect rclatin�to c�+edibars'ri8�Sm�;
7.13 no smt,action or a�rbitratian,or legal administ�ve o�other pa�000ec�ng is
p�dfi�or has been thre,ste�od against the Lessor that wouid have a mataisl advea�sa e�Ct oa►
the validi#y or�rr�eability of this Agnogn�ent or th�e ability of Lessor ta fiilfill its commi�
h�da, or that could resuii in any materia� edve�e change in tb�e busint� or f�isl
condition af Lessor;
7.1.4 Les�or owns the Premises in fee sinzpla, sul�ect to no liems or
encumbraac�s except as s�t forth in xhibit B. All peasona having aay ownm�sbiP�Pa�tY
interest in the Premises (i�clndin$ spou�s) are si8niu8 this A�- Bach ��se �in8
this Ag�ent agre�s that anY rights such spou�e mary have shall be subject a�d subor�to
this A�a�d the easen��ts an�d otl�rights g�nted�, �
7.1.5 tl�ei+e are no Hazard�us Ma�rials on or under the Projee;t 3�a�d
7.1.6 no gaveinme�l appruvat (o�her than any governmea�l ap��+uvals whieh
have beem previously obtai�ed) is required in connection with the due authorization, exec�rtion
and delivery of this A,gi�eement by Lesstor ar the pexfoxm��e by Le�r of its obligations
l�eunder which I.e.�or will be wzable to ob�tain m due eourse.
7.2 $&pregentations of I.essee. J.essee repn�tts and t�unts to L�or that:
7.2.1 I.essee has t1�e requiisite corporate.Pa��P�Z���iY�Y
r�pacitY t�cn#er iarto tbis Agreeme�t and fiilfill its obligations here�mder,d�at tl�e execution and
delivery by rt of this A�t and the perform�eace by it of it�obligaairn�s�have been
duly authoriz,�d by all requisiLe ac�ian of its stockholders,part�s or�nbeTs,and by its bo�rd
of du�ctors ar other govraaing body, and that the eaLering into of this Ag�nt and the
7
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ffe�llfillment of its obligations hereu�der c�oes �t a��veae any law, st�tabe or oon�t�l
obligation of Le�e;
7.2.2 1i�is Agr�en# constitute.s Less�'s legal, valic� �and binding obligation
e�farceable against it in accordance wi#h its terms, except as may be limited by epplicable
b�nkruptay,insolv�ncy, reo�rSa�'»zation, moratorium,and other similar laws riow or harea�r in
effe�ct relating to c�ecl�tors"rights gen�aliy;
7.23 no suit,acticm or arbitration,or legal a�ninis�rative or ot�er proceecling is
�ending or has been�again4t thC I.�ssee that would have a matidrial adv�effect os�
the validity rn enft�rceability of this Agre�ment ar the ability of Lea�a to fulfill its co�nmitments �
he�mdoa�, or t}�t cauld result in any ma�ial adversc c� in the b� o� fnm�cial
condition of Lessoe;�d
7.2.4 no gov�tat appa�ov�l(other tt�an a�gor�ernm�al epp�+ovals which
have boen pneviously obtaiwod} is requir�d in �on with t�e due authorizatian, ��rtion
�d delivery of this Agr�neut by Lessee or the pafo�m�e by Lesso� of its obligatia�
l�eun�r whieh Le�os will be unable to obtain in du�cowrse.
8. DEFAULT; � +' IF.S
8.1 r p�!?y��'����+ Each of the following ev+ents s�all constitu�Ga a."Lessre Default":
8.1.1 I�essee materia�iy breaches any teim of this Agt�.�eut a� (i)if st�h
b�reaah is c�able of being cured within thirrtyy (30)days afl�t T�s�o�'s notice of�t bnach,
Lessee l�as faiied tQ cure the i�ch withia such thiriy f 3Uj day Period, a�r ('v)if Lessee has
diligentiy ao� w+cnk to a�re such breach during such thirty (30)d�y pe��iad but such
breach is not c�p�ble of cure witbin such peuiod, Lessee h�s failod to c�ne the b�ch within a
further oane hw�dred fifty (1$Qj day period (su�eh aggre�ate p�riod nat to exoead o�ne bt�n�drod
eiS��'(180)days fimn the date af Lessor's notice);a�d
8.1.2 (i) r,essce commenc� a voi�uYt�y case uaae°r any ban�ptey �aw; (ii)
Lessee f�ils to cot�rovert in s timely and appropriat� ma�mer, or acqui�ces in wr;ting to, anv
petition filed agains� L� in an involuntary csse imde� eny �upbcY �; � (�� �Y
involunt�rY �P�Y P�nB commenced against I.�see reanains imdis�i�od ar
undischarged itrr a peaiod of sixtY(64)days•
8.2 I.e.ssor's Reme�i_es. If a Lessee l)efau�it has occurned a�d is �ng, I,essor
- ma.y te�rmina�e #his Agreement by written natice t� Le�e following t�a �aan of the
app]icable cure period,and may exercise any othea�nemedy it m�y have at law or equity.
8.3 I���S:�ts. 'ihe £allowing e�v+�ts shall be defaults wit� itiespect to I..cssor
{each,a"I.e�or.��'):
8.3.1 Les�or matarialh,� bre�hes any term of this A►gree�ne�t aad siych breach
remains uncured for thirty (30) days following notice of such breach#o Lessor, or such la�nger
cure period as may be agieed to by the Part�es;and
8
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8.33 (i) I.ess�r conma�es a voluntuy case � mry bankruptcy law; (ii}
Le.ssor fails to car�rovert in a timeiy a�d �gp�propri�te �, or aoquiesoes in writing to, anY
petition fil�d against Les�or in an involm�y c:ase �er su3r b�nlQup�y law; or C�) �Y
invol�mtary b�tilavp�cy p�noecding comm��cod ag,sinst Lessor remaims undismissed or
uadisct�atged frn a p�riod of sixtY t�)�Y�
$.e4 Lessee's Re�medies. If a Le.gsor Defa�ilt has ooa�red an� is oo�nuiag, Lessee
may teaninate tbis A� by writ#eia �tice to Lessor followiq� the �on of the
a�rplicable cure pc�riod. I,e�ee msy a�o eQcer�ise any other�y it may have at law or oquity>
includiqg recovering fmm Lessor all re�ilti�g dama8es,which dam�ages�hall inc�u�la,bait n�ot be
Iimited tfl, tbe lost income and evviru�mental athi'ba�te Damages aad all o�a�otm� of aqy
na�relatin�g to this Agr�rt.
9. LDVIITATIONS.
9,1 L�tai�on of I.iabilitv. BXCEPT AS SPECIFICALLY PROVIDFd? HERE�1,
THE PARTIE3 AGREE THAT TO 1'I�FLJLLEST EXTENT ALLOWED BY LAW, IN NO
EVENT 3HALL ETfHER PARTY BE RE3Pt)NSIBLE OR LIABLE, WI�THER IN
CO�TTRACT, TORT, WARRANTY, OR LINDER ANY STATUTE OR ON ANY UTI�R
BASIS, FOR SPECIAL, INDIRECI',iNCIDENTAL, MULTtP`LE, PL'2JITi�7E,E��MPLARY
OR CONSEQUfiNTIAL D.AMA(�ES OR DAMA(3ES FOR LUST PR4FITS OR L(}�SS OR
INT�1tR�PTIOIJ UF BUSINF.SS, ARISIN(3� OUT OF OR IN CONNE�CI�ON WITH THE
SYSTEM OR THI3 AQrA�EEMENT. THE FOREGOING NOTWITHSTANDING, Tf�LOST
INCOME AND ENVlRONMENTAL ATTRIBUTE UAMAC3ES 3HALL NO'r BE
CONSIDERED CONSEQUENTIAL DAMAGI�ES AND SHALL NOT BE SUBJECT TO THE
LIMITATCONS 5ET FORTH IN THIS SECTION.
9.2 �,�,g Relie£ 1he Parties acknawledge that money dimsa�es wauld not be a
sufficie�t ren�ady for any b�ach of this A�#,awd tio�rt,accordingfy,in the eveat of eny
such breach or�d bre�ch,eithar Party shall be e�ntitkd to immediately sedc e�►and all
rem�dies available t�it at law or in equity,including but not Iimited to aa i�uu�tion or specific
pe�rfformaace,fiam a oourt of competeni jurisdir.tion.
!0. FINANCII�iG ACCOMMODATIONS
10.i ��or Acknowl�t I,essor ac�knowlodges thet Lessoe m�y finance the
Systean and t�at Lessee's obligatic�s may be secur� by, amon8 0#� collsteral, a pledge or
collateral assigm�nent of tbis Agreemmt and a socurity interest in ti�o Sy�n. In or3e� to
fa�cilita�e such financing,and wit}i respect to each Finat�cing Pariy Les�or ag�ees es follows:
10.1.1 �`��+t tn Co 1�1 Aeci� I,� � �ve the r�ight to aesign
this Agre�ment es collateral firnr fm�cing or refinancing of tlu System, and Lessan c�reby
c�nseuts to the collateral. assigrmnent by I,es.see to sny Financing Party of I,e.gsee's right, titl�,
and imerest in and to this Agroemeirt. �
10.1.2 ���'s Ri� Following,.Default. Notwithstanding aup
ca�ntrary term of this Agreemex►t:
9
�
(a) Finaneing PaxlY,as collateral assignee,shall be entitled to ex�ise, .
in the pla.ce and stead of Les.�e+e, any and all rights a�d r�;�es of Les�e u�this
Agreemgnt in accordsnce with the berms of tbis Agr�ement. Financiug Party shell also be
eatitled to exercise all rights an�d reinedies of secui+ed�rkies gea�erally with respact to this
A�nt a�d the Syst�n.
(b) Financing Party shall have fhe right,bvt not t�obligation,to pay
aU sums dc� imd� this Agreemeant and to perform any dthar a�ct, duty, or obli�ation
requirad of I,cssee �reunder or cause ta be cured any default or eve.nt of d�autt of
Lessee in the time�nd manner provided by the t�rms of this A,gi+e�uent. Nothing h�enein
requires Fina�ing Part.y to cure any def�uit of Lessee (unless Financing Party has
succceded to I�'s intexes�s) to perfc�rm at�y act, duf.J�', ar obiigation of Lessee, bt�t
I,essor hereby gives Fina�ing Party the option#a do so.
(c) Upon tl� e�cerci�e of r�modios unde� its securiiy int�est m the
S3'stem,i�cludiqg any ssie thereof by Finarbcing Par�y,whether'bY J'�'�Pr��B�'
uad�r a�ry power of sale, or any convesy�fi�om Lessee tQ Financing Par�y,F�i�qg
Pariy shall give nartice ta Les�or of the transferee or assig�oe of this A►g�men� Any
such exercisa of remedies shall not constitute�Leasoe Default.
,(d) UPon any re,jaction or othar termintttion of 13us A�t
. � pursuant to say prooess undermk+� with resp�ct #�u � tmd�er the Unitoc3 Stetes
Bank�n�pacy Code,at the requ�t of Fin�ancing Party made v�ninety(94}days of such
tarmination ar r�jection,Lasur shall enter i�nta a new si�be lesse agreemet�with Fina�ucin�
Party or it4 assigaee on substantially the s�amo�ag this A�reomant.
10.�.3 Finsn�cina P�+, G�me Riaht�. T.essor s�all nat ater�ise a�+ ri,gl�t to
t,ersnm�e or sus�d this Agreeanent unless Lessur has giveu pcio� writt�nn natece to e�cb
Financing Party of which Lessor has notice. Lessor's nati.ce of an inte�t to terminate or suspend
must�ecify the condition giving rise ta such right. Fir�ancing Party has the lcnngcr of tbirty(30)
days and tl�e cure pe�riod allowed for e default of that iype undax this A�reement to czut+e the
- condition; p�vid�d that if tht coz�dition cannot be cured within s�ch tin�e bnt can be cured
within the e�sbendod parioa, Fi�ncin8 Parts' may have up to an additiamal n�eky (94) daYs to
c�e if Fi�ancing Pariy oammeao�s to cure thG oondition withim the drirty (30) daY Iaeriud and
���Y P�� � aure th�eaftcr. Les�sor's and Lessee's oblig�tians �#his Agre�t
shall otherwise re�main in effect,agd Le�or and Lessce shall be xcquired to fully perfrnm all of
their respective obli�ions under fliis A,g�meaat during any cw�e period• .
10.1.4 C`-��an Fall��j�g:G'�r�. If Financing Pany ox its assi,g�ee acquues
�itle to or cantrot of Lesse�'s assets and cur�s all defaults existing sa of the date of sacln chaage
in dde or conlrol within the time allowed by Se�tion 10.1.�.ti�this Ag�ree�ent shall co�inue
in fult force and effec�
10.2 ?3otice of D►�ffa�ilts and Events of Default. L.e�sar agroes bo �liver to each
� Financing Party a cx�py af all notiaes tliat Lessor delivers ta Lessee pu�suant ta this Agreeme�nt.
i 1. NUTICES.
10
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� .
11.1 Natices. Any nodce required, P�mit�d, or co�empla�be�ct bda� shau be in
writing and addressed to the Psrty to be notified at the add�+�s set f�be�ow ar at such ot]�
address�addnesses as a PariY maY�esig�e far itself frrnm time tv tar�bry �okice h�.
Such �ces may be sent by parsonal deliv�y or recognized overnight couricr, aad shaU be
deemed effoctive upon roccipt.
To LBssee: New F�nergy Eqwifiy,LLC
705 Melvin Avenue,Suit�e 1�0
Annapolis,ItiID 21401
Atta CE�
Phone:443-264?-501U
To Lessor: Walz P�ertics,LLC
Widi a copie.a to:
�w� �
i�a�s c�c��Ra
Beckes,MN 55308
� (763)262-4381
bv�zCa�sherbtel.n�t
Brian snd T�Anderson
21265 Conoord 3t.NW
Elk ltiver,MN 55330
(612)710-1628
ln�'anthere r� ' .com
� Julia Waiz
waljuw 'u�a'xl.com
Br�c Walz
� siraric�hotmail.c�
R�b Walz
SeaAilo#2$Cc�vaho�.com
Joe Walz
jwalzjwalz�¢ma�J.cflm
1Z. GOVERNING LAW;DI3PUTES.
l2.1 �hoice of Law. This Agree,ment shall be conshrued in accordance with the laws
of the State of Minnesota,without r��ard to its oonflict of Iaws a�d p�in�ciples.
. 11
�l�
i2.2 Disntxt��.,s.
12.2.1 eme�t Negafiations. The Farties shall t�se all r�:esonabie effotls�
se�ttle disputes tlnough negoti�tian betwee� �rthorized members af each P'srty's senior
managem�ent Eit�Pariy may,bY writ�en notice to the other Party,r�4west a meeting to initi�
negat�tions to be held wrthi►n fifte�n (15� Busimess D�ya of the other P�riy's receipt of suoh
ncquast, ai a mu�ally agreed time and placc, If the matt�r is aot re�olved within dvtty (30)
Business Days of their first meet{ng, eitt�er Party may pwrsue arbi�tion in accord�ce with
�.an l 1.2.2. �
12.2.2 Ar�l ' 'on. Any controversy or dispute not amicably resohrod by th�e
Parties or through managem�t negotiation�shell be se#tled by binding arbitrat��a. Eifi�Parly
may initiate arbitration bY SivinB writte� notice ta the ot3�ar Party. Tl� notice shall state the
nat�u�e of the claim or dispute,the emaut�t involved,if any,and tt�e remedy sough�. The dispute
shall be submitbed to sa indepe,�d�t arbiur�tor mutually seleded by the Pmties. If t]ye dispu�e
has a value in excess of$1�,0OO.OD,then at t�ele�iton of eit�r Pat#y,t3�ere s3�all be a p�n,el o€
three {3) arbitraLors. If the Perties do no�t mutually �gree pa tlx arbitratorts�, the Partias shall
then utili�c the American Arbitration A,s�ociation (or another entity mud�slly acceptable to the
Parties) to provide tl� requi�d indepetid�nt arbitrator(s). The docision of the appoi�ed �
u�dlependent grbitt�rbQr(s) sl�ll be final and bindin�g on the Psrties. ln r�ring a decasiaay t�e
atbitrata�s) �ali comply vvith the Construction Industry Arbitrstian Railes of tl� Am�ic�n
Arbitration �ssociation �►en in effect. NMwithst�ndixrg �ai the Constrnctian Indusay
Arbitration Ruies may provide oth�wi�e, the prev�'ling P�rly in sny such arb�tian shall be
entitied to recover its a�itrati�cots,i�lusive of counsel,expert,arbitrators' and adm�ia�rative
fioes, finm the losing Party, as dete�iined by the arbi�rator(s). Any such arbitretian sb�llll b�
co�ducted in NZin�apolis Minnesota
13. IlVDENIlv1FICATiON.
13.1 Le�see's Gt�eral In�i�. Lessee sJ�all indeannify, d�ef�nd, �nd hold he�t'niess
I,essor(i�cludiag Lc�so�'s pe�rmitt�su�rs a�d essigns)aad Lessor's s�ab�idiaries,dir+octors,
officers, mcmbers, sbarel�olders, employees and ag�ts (collectively, "Lesso�r In�nnified
p�'� from and aga�t�ny and all third p�atq ciaims, losses, � daana8ea, sad�s�,
i�l�ing resssonable aito�meys' fees, ina�red by Le�or Incl+�mnified Parties arising f�+am or
reiating tfl (i)I�'s breach of this A�t, or(ii}t1�negligence or vvillful misoa�nduat of
Lessee's invibees. Les�e's indemnification obligations und�r this� 1�.2 shall nut exte�+d
to �ny claim to the extent s�uch claim is due to the gross negligence ar willfiil miseon�duct of�my
Les�or Indemnified Party.
23.Z �.essee's En ' Lessee shall indc�nnify, defex�d end hold
baimless t� Lessor Indemnifiod P�es again�, any claims, cos�s, dama8es, fees, or Pe�salties
arising from a violation by Lessee ar L�ssee's ag�r►ts or aanhactors of a�y federal,S't�e,or local
law, ordinance, order, or negulation relating to the generati�n, man�, product,ion, use,
storage, release or threatened releax, discharge, dasposal, transportation, ar prese�ce of any
Hazardous Material on or under the Premi�es.
l2
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13.3 . I,essor shall i�n�ify, defe�rd, a�d hold harm1ess
�'� (��S Lessee's Pe�'mitted sucoessors and as�signs} a�d Lesaee's sab�di�ries,
directors, office�s, m�embers, shaaehol�rs, enployces an�d age�s {collectively, "L�
j�nmified Parties"�from and ag�ainst any and all third-pariy claims,los�costs,damages,and �
e�cpen�es,including 1o�t income and enviromnaitai adribute Danaages and reasonabk attomeys•
fees,incun�ed by Les�ae indemnified Parties arising from or re�ating to(i)I:essor's b�h of this
�►g�t, Cu)tl�e neglige�oe or w�lfui miscandwct of Lcssor, Leesor's �enams, or Les�o�'s
invi�ses• Ires�or's i�d�nification obligallo�s w�der this �133 shsll n�nt �x�d to a�ty
claim to the extient such claim is due to the gno��giig�e or willful misc�dv�c.t of a�y Le�ee
In�nifiod Party. �
13.4 . Lee�sor shall indemnif�►, � aad hold
hsrncile,ss the Lea4ee Indemnified Parties for,fmm,and�8��Y�����
or penalties, inchlding loat inc�n� �nd envirrnmieatal attri'bu�e Damagesy �8 fmm tl�e
pmesenae of any Hazardous M�ateris�s on or under t1� Premiscs, e�cv�t to t6e a�becrt that such
pzesc�ce is attrs'butabk to a violation by Lea�ee�Lessee's ag�ts or co�rs of any fedet�l,
State, or local law, � orda, o� regiilation relabing to the 8�� ���,
P���n. �� �Bt, i+elease or � releeae, di�c�ar8e, disposal, �on, or
presenoe of aay Hazardous Ma�ial an or�t3�e Prr�nises. �
14. INSURANCE.
14.1 tiusur�u�ce Itegui�d. Each Pariy shall maintain im fi�tl fi�ce and ei�ect t�out
the T�rm. aad B�ended Term, with insurnrs of reco$nia�ed �'bit�► a�ho�iz�d b� do
bus�s in the State im whicb the System w�l be located,ass�gned an A.M.Best rating of no legs
thaxi A IX, insurancx oovarage in the amountts a�d types�et forth on� Each poticy of
insuiranr�ma�by Lc�ssor et�all(a)namme I.essee as loss payce {to tue ea�ent o�vering risk
of loss or damage to the Premi�es or the Sysban) a�d as an sdditio�oal �od 'msurod � ita
� �Y aPP�' (to fhe ext�t covering any other risk); and (b)co�n e.ndo�ae�
providiag that such palicy shall not be can�celled or a�m�ed with respect to the named instn+ed
and its designees withoud thirty (30) days' prior vvritten notioe to Lesseo. Bach Party �hall�
wi#hin ten (10} days of writben rcquest therefor, furnish cu�rcirt certific�tes of insura�ce �o the
othar Party evidencing the iasaran�e�+equirad henunder.
14.2 Waive� of Sub�aastion. E�h policy of n�rance reqttu+ed he�tmder st�l[
provid,e for.a waiver of subrogation rights against the oths�Party,and of aay riglrt of the in�s
to any set-aff ar c�unterclaim or any other doduction, wbrcther by a��c�ment oz othe�wise, in
respect of that policy.
14.3 � Waiver of Obli� The proviaions of this Agroement shall nat be
constiued in a manner sa as to relieve aqy insurer of its obligations to p�.y any �
prnceeds in ac;cordaYLce with tbe terms snd coa�ditions of valid and callectable ins�n�sx�e policies.
The liabitities of the Parties to one another shaU nat be limitecl by in�cx.
is. MISCE,LY.wtvr+:oUS.
13
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iS.i As�i�. Nei�r Fariy shall have the right to a��ga any of its rig�trts,duties,
or obligatia�s und�er this A�t vvith�ut the prior writt�t cons�nt of the ot�t'P�rty,wltich
con�nt may not be`umr�nably withl�eld or delayed. Tlie foregoin�g notvvithstanding, I.cssee
may assign any of its right�, dirties,or obligations un�r this Agnee�nea�t,witt�ut the can�m of
Lessor, (i)to eny of its affiliates, (i�ta auy tbird pariy in cannection with a f�nancing
t�nsac.�tion,ai'Eiii)tc►�uY P�h�ser of�e System-
15.2 F.t�tire A t This Agreennent represent the fuii momd compleLe a�t
between the Parties henet�with re�ct to the subjec#matbea�c+omt�ined hetei.n and s�up�all
prior wri.tten or oral agreements between the Parties with respect to the subjeet matber l�eo£
is.3 ,���. This Agreeme�t may only be amer�ded,modified,or suppianented
by am i�vme�t in writing elc�cubed by duiy autharit�od n�tatives of Lessee a�o�d L�.
15A No Par�p oar Ioint Ven�. L,esseee and I.essee's a$�s,in du pe�rfaarmsnoe
of this Ag�rnent, s�ll act in a� indspendent c�ap�:iiy and nat as offic�ers a� dnployees or
age,� of i..essar. This A�ent �ll rmt imlmrt aqY righ�s �eable bY �Y � P�Y
(other than a permittod sucoessor or assignee bowx3 to i�is Agreament).
15.5 ��$'� T�e h�dings in this Agreem4mt are solely for vanv�ien�oe
and+�e af�ce a�d shall have no erff�ct in int�ng thc mean'nng of�ny provision af t�is
.Ag�mem. Any Fxln'bits rr�ffeTen�ed wit�in and attachod to this Ag+e�, inei� aRj'
attachments to the Exh�`bits, shall be a p�rt of this Ag���etment and are io�corpo�ra�e boy r�
herein.
15.6 �,,am�kies Cumulative: Atto�nev�' Fee�s. No remedy herein conferrad upon or
resen�ed to any P�rtrty shsU exclutie a�►other ranedy herein or by law provLd+acl,birt ea�sb�all be
cumuia�ive and in ad�ition to evcry othe�x^�medy giv�n he�mder or now or�exi�ng at
law ar in equily or by statute. If any ectian,arbitration,judieial ref,�ace,or o�er p�+oceed.ing is
instituted between ihe Pmties�n c�ection with this Ag�+eement,tlue losi�g Part,y shall p�y to the
P��S Pacty a reasa�ble sum far attomeys' an�d expe�' fees as�i costs incu�red in b�inging
or defes�d'u�g sueh action or proc�,eding (at triai and on appeat) and/or enfor�img any judg�meat
g�rar�l ti�rein.
15,7 VfJaiV�. T� waiver by either Pmrty of any bre�ch of au3► t�rm, condition, or
}xovision he�ein co�ined shall not be de� to be a waiv�r of such term, coadition, or
p�ov3sion, or any subsequent b�rcach of the same, or any othcr term, co�difian, or provision
contained herein. Auy such waivver must be in a writin� e�xecuted by ti�e Pariy makin4g such
waiver.
15.8 Severabilitq. If any psrt,term, or pmvisions of thie Agnaetnent is d�min�d by
an arbitratar or court of competent jurisdictian to be invalid, illcgal, ar uncnf�o�ceable, such
det�xninadion shall ao�t affect or impe�ir the validttY, legalit3', or enforcee�bility o�any other p�rt,
texm, ar provision of dus Agr�eem�nt at�d sball not �der this .Agre�ment �fon;eable as a
whole. Instead,the part of the A,gree�m found ta be im�lid,unenfore+aable,or illegal shsll be
amended,modified,or interpreted to the extent passible to most closely aclrieve the urtan#of t!u
Parties and in the inanner closest to thc stricken provisian.
� 14
159 s�d F ' i}e S�- �js Ag�tt mSY be � 1p
�ow�b�rpa�ts, wluch shstl tngether c�onstitu�e o�and the s�e a�r�. F a�i m ile�po�lab�e
docunr�e�rt fornzat(�`,pDF'�si�sha�l have the sa�ne effect as ori8�inal si8nap�res,a�d each
ParIY conseats to the admis.�ion in evidence of a.�mile or photocopy of this Ag�t��y
court or arbitration pro�adings between ti�e Partih�.s.
isao ��� xo��n�a����n�a�a�
�ed by�e Fara�s ar by��i pe�,to c�the reimio�p of p�a«p�i ana a�
�F.�o�t�'enhme,buyer awd seller real�+operty,o�Auy o���betvvoae�
at�d Les�e�,otl�tban t� ' ' of lcssor and less�. �
iS.11 ��yiad�un of�°P. I.essor and Le�ee ag�+ee to executie and rocord a
memorsndum of dris I�se. �,essor shall exect�e, with no�t�rizstion, and deliver tio Lcs�ee
to8ether with the its initial delivery of the s�ig�d AB�ee�a rec�or+dable M�emorandwm of I.a�se
in a form re�abty ��e to the Parties ("Me�nor�ndwa of
the Eichibit A dsscxiption of d�e Pro,�a�Site and which I.essce�recamd m the Official
Records of the Cozmty �whicli t�e Ptb�ct Site� located. Lcs�ae �be raspo�na►'bk f�ar the
cost ofrecordation,
13.2Z �Sto� 1y�C�,�fi,,,,v��.From time to timc,upon writta�n req�st bY Les�oc,Leaseo�c
shall p�+nvicle within sevve��n Cn daY$�er an estoppel certi5cate�g,to the lm+owledge
of Lessor,of I.easee's compli�tnce with tfia t�xns of this A •
issues of noncomplian�ce.Le�e shail reimburse Le�sor for�itason8bl��k�wn
P��a�sociated with ob�ta,ining this Bstoppel Ce�tificate. �out of
[SIGNATURE PAGE FpI,I,pq�S]
. 15
z _
IN WITNESS WHCRFOF,t�e Parbies have caused this System Si�e Lease Ag�m�nt
to be duly execut�ci and delivcred as of the E�ve I�te.
LE3SE LESSOR
New E , W�lz Propertk�a,LLC
sy: � �� �
Name: �^ C. �a.��.- Nam .Hubert Wa�Z
Titla: C� T"rtle: Preside�
I
, �
+�.�
�MISR3;PROJE(,'T SiTE
'I'hc project will be located a�
Se�iorn 8,Towns�hip 1?,4,gsnge 029
PID 31.20672.0000 60.57 a�,,t .
� PID 31.24691.000212�t.66 ac�es
Far a total of ap�roximateiy 185.23 aa+es.
Final project size and�ge to bc acla�ovv�edged ttn+nugh an add�dtnm to this Agree�nt.
Bxhibit A
�sss�.a ouai4w.o�oi ' .
.,�
EXHIB�B
ENt;1JlM[BRANCES 4N LESSUR'S TiTLE
Exhibit B
�ss�.�oaaiaa4�0000t
. �,
�LHIBIT C
-
SYSTEM DE3G�''ITON
The Sysb�m will be app�+oximately 25 AC in si�e. The System
Final syste�de�gn to be d�termined by uritial�ritig.
Final sysbem d�ription to be eck�owledged t�mugh sn�to this Ag�t.
Exhibit C
75587099.4 003144400001
�IT D
INSURANCE REQiT1RE11rII�.N1'S
(a) Lsssee sl�ail obisin and maintain the following in�nr�ance policies:
(i) Com�aheaasiv�e g�at liabs'tiiY insm� against�iabilitY fc�'at,jurY ta o�r doMfi
of aay Pe�o� a��mmge to pc�p�ly in co�iaan with tbe n�e,aper�ioaa ar co� of�the
System of not �ess i�sm one m�lion dollacs �- � -� �''` ��cambined s,ingie limit p�r�
and anau�l agg�te. Lessor shall bo n� as an additioa4al inarn+ed t�r this liab�i�ty
ingura�noe, p�ovidod howev� that I.�e s�all in no eveut be obliga�ad to r�air or raplaoe
Les�or's buikiingi c�Fre�ises; .
(u� Lessee may �► thc u�ranoe requir�nerns oon� in this A�mt
though anY vambina�tion of prim:ary aad/or etscess caverege;an�d .
(iii) Lessee m�y el«;t to self ins�n+e any or all of the insin�an�e�aeari�amtained
in t�is A�eem�t.
(b) Lessor shall obtain and maint�ain t�folMwing insuraBce policies:
(i} Comprehex�ive gen�al iiab"ilitY i�wrance against 1��blli�Y for injury to or cloath
of aqy Person or da�e f� p�ty in�a.n with the use, op�tiaa or c�onuditioa�of the
Premi�es of not le,ss ti�a va�e millioa��oilars�'� ' �� i�cx�nbin�ed single Iin4it�cx ooc�m+a�ce
atd s�mual aggregate. L�ee sl�all be n�d as aa additio�ai instu�ed unckar this tiabitity
�;
(ri) All-risk properly inswranr,� with cove�rage equal to the replaocanent va#ue of the
Premises. Lcssee shall be�amed as�ann ad�ditional insured under this policy;
(iii) I.e�+or maY satisf�' the ins�rance requircments containod in this A�t
tfioug�a�y combination of primary ac�lor exce,ss coverage;and �
Cv) I,e.gsor�q�tay elect b�self insu�any or a11 of the insuraiux requi�cmrtained
in this Ag�reemeat.
Exhibit D
T358'1494.4 OUE1444+00001-stmd
Nlal