HomeMy WebLinkAboutMedical College of Georgia Foundation
Augusta Richmond GA
DOCUMENT NAME: M ed. \ Co.", Co \ ~ ~ G<:Q)Jo. t0L,\.,-d..n6 on
DOCUMENT TYPE: LeQ::Yc..
YEAR: q (3
BOX NUMBER: 11
FILE NUMBER: lCo55 Co
NUMBER OF PAGES: J2.
DEC-18-2002 17:00
P.02/12
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CONSENT TO ASSIGNMENT
OF LEASE AGREEMENT
THIS CONSENT, effective as of~e 31st day of March, 1998 is by The City Council of
Augusta (the "Landlordrf), and Medical Cdllege of Georgia FOW1dation, a Georgianof. for profit
corporation(the "Tenant"), as successor in interest to Savannah Valley Broadcasting Company, a
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Georgia corporation ("SVBC"), and CumulUs Broadcasting,. Inc., a Nevada corporation
("CUMULUS"). ~ . .'
WITNES SETH:
WHEREAS, the' parties desire for CUMULUS to asswne the responsibilities of the Tenant
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under that certain Lease Agreement (the "Lease"), dated June 6, 1994, between the Landlor and
Tenant, as successor i~ interest to SVBC which Lease has been assigned from SVBC to Ten~t'. A
copy of the Lease is attached hereto as Exhibit A.
NOW, THEREFORE, for and in consideration of the premises, the mutual covenants
contained herein, and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the parties agree as follows:
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1. No Default. Tenant and Landlord hereby represent and warrant that: (i) the Lease is
valid and in good standing, without any defaults or breaches thereunder, and that no fact exists
which, with the passage of time or the giving of notice, could create such a default or breach under
the Lease; (ii) the rent and other items due under the Lease for the month of March, 1998, and all
prior months, have been paid in full; (iii) except as set forth above, the Lease title has not been
amended,pr modified; and (iv) the term of the Lease commenced November 1, 1993, will end on
October 31,'1998, and may be renewed for an additional five (5) years pursuant to the terms and
conditions of the Lease.
2. Assignment. Tenant hereby assigns and conveys all of its right, title and interest in
the Lease, from the date of this Agreement forward, to CUMULUS and CUMULUS hereby accepts
such assignment, from the date of this Agreement forward. CUMULUS hereby assumes the
. obligations of the Tenant under the Lease from the date of this Agreement forward.
3. Consent. Landlord hereby fully consents, in accordance with the Lease, to the ."
assignment of the Lease from SVBC to Tenant and to the further assignment of the Lease from
Tenant to CUMULUS as set forth in Section 2 hereof, and agrees to recognize CUMULUS as the
tenant under the Lease. CUMULUS' liability under the Lease shall not include any liability for
defaults or breaches occurring prior to the effective date of this Agreement. Landlord llllderstands
and acknowledges that CUMULUS has entered into a credit agreement with Lehman Commercial
Paper, Inc., as administrative agent, and other lenders ("Credit Agreement"). Landlord hereby
further consents to the consummation of the transactions related to the Credit Agreement including,
DEC-18-2002 17:00
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without limitation, the granting to Lehman Commercial Paper, Inc., as administrative agent, ofliens,
security interest, encumbrances or collateral assignment.
4. Payments and Prorations. The Tenant and CUMULUS agree that the Tenant shall
be responsible.for all rent, expenses, utilities, taxes and similar items for the leased premises prior
to the date of this Agreement. and CUMULUS shall be responSible for such items after the date of
this Agreement. The Tenant and CUMULUS further agree to reimburse each other on demand for
any item paid by one party which should have been paid by the other party. CUMULUS shall be
entitled to receive, when returned, all security and other deposits held by the Landlord under the
Lease.
5. . Waiver of Landlord's Lien. Landlord hereby waives and releases in favor of
Lelunan Commercial Paper, Inc., as administrative agent, its Landlord's lien, if any, and any other
liens or claims on any of the property of Tenant Or CUMULUS.
6. Notices. The notice address of CUMULUS under the Lease shall be CUMULUS
Broadcasting, Inc., c/o Quaestus Management Corp., 330 E. Kilbourn Avenue, Suite 250,
Milwatocee, WI 53202, with a copy to CUMULUS Broadcasting, Inc., Attention: Rick Bannick, at
875 North Michigan Avenue, Suite 3650, Chicago, IL 60611.
7. Reaffirmation. The parties reaffmn and agree to be bound by all of the terms and
conditions of the Lease, as modified herein.
8. Authorization. Each individual who executes this agreement represents and
warrants that this agreement has been approved by all necessary actions of such entity's
. governing body and owners, and that such individuaL has been fully authorized and empowered
by such entity to execute this agreement for such entity.
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9. Counterparts. This Consent to Assignment of Lease Agreement may be
executed in one Or more counterparts, each of which shall be deemed an original but all of which
together will constitute one and the same instrument.
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DEC-18-2002 17:20
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IN WIlNESS WHEREOF, the parties have executed this Agreement as of the date and
year first written above.
LANDLORD:
AUGUSTA, GEORGIA, AS SUCCESSOR TO
THE CITY COUNCIL OF AUGUSTA
, Mayor
Q,ll)''- 'nIIs clDaunltlf IllOrwtcI u
. TENANT:
~~~;r
lIMY lit
MEDICAL COLLEGE OF GEORGIA
FOUNDATION
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Its: EK-4..~~r_ \Dt~~
CUMULUS:
CUMULUS BROADCASTING, INC.
By:
Richard Weening
::ODMAIPCDOCSISBDOCSIIII17S\1
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DEC-18-2002 17:01
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EXHIBIT A
Lease
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::ODMAIJ'CDOCS\SBDOCSIIII17S\1
DEC-18-2002 17:01
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STATE OF GEORGIA
RICHMOND COmITY
LEASE AG~EMENt
TaIS AGREEMENTmaae and enterea into chis
6
day of
~ ' 1994. by. and b.~"..n THE CITY COUNCIL OF AUGUSTA,
hereinafter ciesc:z:oib.d as "Lessor" and .SAVANNAR VALLE~ BROADCASTING
COMPANY, hereina.fte;r cisscribod as "L~ssee".
WI'rNESSi'I'H: It' j,s m~t~iillly agreed ~y the p.a:-t:.1es hereto
that "'ne~ever t:.he contex~ requires the cerm!i "Lessor" and Le$:iee" i1:
shall be conscrued co include the masculine,. feminine or neucer, the
singular or plural, and t;he heirs, execucors, administ:.::acors and
assisns, all of whom shall tie fully and eornplece~y bound by l:.he
coven~ts herein cont:.ained:
Tha~ ~he Lsssor in consideracion of che annual rencal of Tt"Jo
Thousand One Hundred Seventy-Eight Dollars (~2.17a.OO) per y~ar for &
perioc:l of fi VI! ,( 5) years begitming- t:he
1st day oi Novemb~r
~9 q,
, does herepy rent: and lease unco the Lessee, ~h~ property
hereinafte. deserib~d, ~o-w~~:
ALL ~hiilt; ~rac=c or pa=cel. ot land, s1.t:ua.~e., l}'ing and being
in Richmonc:l County, Georgia. being lo~ated in ~he ~rknec~
Springp Storm CoU.ecc.ion Bas~n. and shown on a Pla~ made by
'Che Pepart:ment ot Public Works,' Engineering Depart:menc. J.
B . Messerly, Ci'ey Eng:.neer dated Ma.y 17, ~g63. ~s2. BS ac:res
shown lS.S t.he shaded area on the plat: and. sa;id plat: i$
a.ttAchec :0 thiS Le.ese Agr~me.."'lt an:imad.e by reference here:o
a part o~ 'ehis ^greemen~,
1. That the sa1dLessee &~all hav~ an op~ion ~o renew saiu
leese upon the expi=at:ion of five (5) years. toat is, upon ~he
~xpi.ra:;'~n of, ~he original lea~e and sald optio:'l shall be for zm
ad:i;.tio~al five (5) yeilrs a:. a,.1 Qr.nual :-ental of '!wo Tho\.lsa.~d three
"
DEC-18-21211212 17:1211
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HWld:r;e.a Ni.necy-Six Dollars ($2.396.00) per yea.r, ol;her r:.erms ana
condiclons as see our:. herein remaining ~he same.
2. Should 1c'be chat the LeSiee is adjudged bany.r~Ft, or
sbould ic be :ha~ a Receiver or Trustee be appointed for ~he Lessee's
prope~ey. or should it be ~ha~ a judgment, execution or attacbment: is
rendered agains~ che Lessee and remains unpaid, or sho~ld it be char:.
the p~operty of r:.he Le&see in r:.he premises has been lev1~d upon tor
any cause, or should it ~e thar:. the Lessee tails r:.o PAY any renr:. due
hereunder upon t:he day t:he same ~s due, or Should it: be char:. the
Less.. violates any of ths provisions of chis Agreemene. or sholJld che
LeSsee abandon che premises, upon the happening of any ~ueh eVQnc~,
the Lessor sh.ll give t.he Lessee ~hree (3) days' no.:ice to comply wi ch
the provi~~on~ of this Lease; ana should ~h& Lessee fail to do so the
l.essor shall have t:he opt.:i.on of declaring the Lease null and void, and
shall have the option of t:h~ property revercing ~o cne Lessor upon ehe
expiration 0: che aforesaid. three (3') days' not:.ice_
3. That t:be Lessee agrees to use t:he.p~emises for the
purpose of. a radio :Croac1cas'ting tower. or for o:.ber legicimar.e
bUsiness purposes all in accordance with ~he au:norit:y and
spec:1ticacions anci under=~e $'U?ervision 0: eh; :::1. t:y Ensineer of
AUgus~a, Georgia.
4. It. is undersl;ooCl and ilS'~eed t.ha.t:. ;:hi$ Lease sha.ll
terminate 1n the event the-Federal Communica:1ons Commission =evokes
approv~l of the pr~~ert:y hereir. described for che parpose of a radio
broadc:as~~ng t:o~er for Savann~h Valley Broac1cast~ns Com~any.
-. This as..eemen~ sha.l~ create the relaclonship 0= Landlo:-d
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and Ter.an~ whe=e ~h: Lessor shall be ~he LanQlo~d ~nd the Lesse~ shall
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DEC-18-2002 17:02
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be ehe ~enane. No est-at.e shall pass ou~ ot ~he Lessor, and the Lessee
has only cne ~~e of ~he premises, w~ich u~e is no~ s~jec~ co levy and
sale a.nd noc assigna.hle by t.he LeSSiee, except wit.~ t.he: el):press wr:1.t:t:en
consent. of t.he Lessor.
6. Ie is unders~oQd ana agreed that. t.he Lessee wlll clear
and grade ~he Shady area referrec. to in ~he plat. as t.he leased
propert.y herein of ~he ~ract_
7. It is uoQcrst.ood and agreed tn~t the Lessor shall not.
be lia~le for any flooding of t.he leased tract due to s~orm wa~er
b~cking ~p in the reservoir area.
B. Ie ~~ f~ehGr undQr~ecQd and agreed chac ic ~~ll be ~he
obligation of t:he Lessee t.o maintain the ent.rance road leading from
~he ~&&t 8Qga Qf tha r~s8rvoir ar&a ana into the her8~n described
leasec1 propert.y.
9. It. i~ f~rthC!r underst:ood ancl agreeci chat r.he Lessee will
maintain tone property wich a fence around ~he &owerbasa of cne raQio
. ,
tower an~ ~hat all grow~h w~ll be cut ~~ regulQ. ~n~ervals.
10. The Lessee hereby releases the Lesso::' from any and all
damage& ~Q parson or ~o p~Qpercy sutfere~ upon the premises, and che
Lesseewlll 1naemn~fy ana hold cha Lessor forever free and harmless
from all damages' sustained by t.ne Lessee or the Lessee's agent.s.
serv.nts, emp1oyecs, invicees Qnd licensses. ar.s~ng on ~he leas=~
prem~se6 or in any ~ay relaced to or arising ou~ of Lessee's use of
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the sa.me.
Lessee shall a't; GLll . t.1mes mz.:;.ncain 'general 1.a1;7ili~y
insurance coverage Io."l.:h regard eo t.be said leasec. premises wi~h limits
:If liab1l1~Y of not. less than 5500 I oeo. 00 per pet"son wiih Lessor l:le~ng
lisced as an add1t:io~al named ~nsured in all polici~s prov~dln9 such
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COVerage. Ls's&cr'shall be provided 'Jich a copy of s\.lch policy ~nd
with reasonable evidence from time co cime during ~hc cerm of chis
l~ase and any renewal ~hereof ch.t the same is in f\.lll force and
efftl:.cr..
11. The Lessee further agrees to comply ~ith all valid
ordinanees and regulacionc of The'C1~y Council of AUgu5r.~ as we~l a$
all ocher applicable federal, state and local rules and ordinance~.
~:. Shou14 tbo LeSSee occupy the prem~ses over ana beyond
rhe term of th1s lease, accep~ance of rent by the Lessor shall not
operaee eo renew chis lease 1n any way. and 1n such evenc, che Lessee
shall occupy l:h.e premises only as a tenant. at suffra.nc::e ~c:l \.1.i.ll
VACa~& che premises 1mmediacely upon being notified to do so.
13. This Lease contains all of the agreemencs betwmen the
parties and no oral represen~ations are bind~ng upon any pare hereto
unless ehe same have b~en incorporaced herein.
XN WI'.I'NESS WHEnEOF. ~he sa.id LeSsor and Lessee have
hereunder se= ~heir hands and affixed cheir seals in dupliCate, the
day a~d year f1rsc ahove w~i&cen.
SigneQ, Sealed and~ De ivered
on the /L-ti(.Jc1ay of _-" (J
1994, i~ R1chmcnd C ey,
Georg1a. in the pre~ence of:
che presence of;
~./f7i /',J ff!.u~ ~_
-L::ta.. {t j /??~ ~~ .(
NO:,ry ;':.LbliC, =~~--
Cou~cy. Georgia. ~~
My Comm;ss1on ~xplres:
,.,Olal) 'uD/lC, CQMllllle C1,., GeorgIa
Nr CGmmllli"" C"'il"_ .1_ Jh 164
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'I'HE CITY COUNCIL OF AUGUSTA
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DEC-18-2002 17:02
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Signad,sealed and OeJiverea
en cne:! ...-!...- day o!' Jut f
1994, in ~chmond.County,
Georgia, in ~he presence of:
.~ b~esemce o~:
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~~ a -" ~~(4~~ ~
No~ary Public, Richmond )
Coun~y. Georgia 1
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My Commission Expires:
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AS
ATTEST:
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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and
year first written above.
LANDLORD:
AUGUSTA, GEORGIA, AS SUCCESSOR TO
THE CITY COUNCIL OF AUGUST A
, Mayor
....
TENANT: Cui) TIIII dDCllnl.nt applMd u
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INY ."
MEDICAL COLLEGE OF GEORGIA
FOUNDATION
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CUMULUS:
CUMULUS BROADCASTING, INC.
By:
Richard Weening
::ODMAIPCOOCS\SBDOCSIII t 17511
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