Memorandum of Option to Lease P-1-9 Vertical Bridge PE).pdf

(Above 3” Space for Recorder’s Use Only)
Upon Recording Return to:

VB BTS UI, LLC

22 W Atlantic Ave, Suite 310
Delray Beach, Florida 33444
Attn: General Counsel

Site Name: PHO Windmill Village
Site Number: US-AZ-7073
Commitment #: VTB-143010-C

MEMORANDUM OF OPTION TO LEASE

This Memorandum of Option to Lease (“Memorandum”) evidences a Telecommunications
Facilities Ground Lease Agreement (the “Agreement”) between CITY OF BUCKEYE, an Arizona
municipal corporation duly organized and existing under the laws of the State of Arizona, that acquired
title as The Town of Buckeye, Arizona, an Arizona municipal corporation (“Lessor”), whose address is
530 E. Monroe Ave, Buckeye, AZ 85326, and VB BTS III, LLC, a Delaware limited liability company,
whose mailing address is 22 W Atlantic Ave, Suite 310, Delray Beach, Florida 33444 (“Lessee”), dated _

20. (the “Effective Date’), for a portion (the “Premises”) of
the real property (the “Property”) described in Exhibit A attached hereto. The Premises is described in
Exhibit B, attached hereto.

Pursuant to the Agreement, Lessor has granted Lessee an exclusive option to lease the Premises
(the “Option”). The Option commenced as of the Effective Date and shall continue in effect for a period
of one (1) year from the Effective Date and may be renewed by Tenant for an additional one (1) year period.

Lessor ratifies, restates and confirms the Agreement and, upon exercise of the Option, shall lease
to Lessee the Premises, subject to the terms and conditions of the Agreement. The Agreement provides for
the lease by Lessor to Lessee of the Premises for an initial term of five (5) years with four (4) renewal
option(s) of an additional five (5) years each, and further provides:

1. The Agreement prohibits Lessor’s interference with the Property. During the Option
Period, Lessor will not to install or to permit others to install any structure or equipment on the Premises,
the Property, and any property contiguous to the Property that is fee-owned by Lessor that would block or
otherwise interfere with any transmission or reception by Lessee’s Facilities (whether such blockage or

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VB Site ID: US-AZ-7073
VB Site Name: PHO Windmill Village

interference is in the form of an emission, radiation, induction, harmonic, a physical barrier or otherwise)
in the event Lessee exercises the Option;

2. Lessee (and persons deriving rights by, through, or under Lessee) are the sole parties to
market, use, or sublease any portion of the Premises for Telecommunications Facilities during the term of
the Agreement (such restriction shall run with the land and be binding on the successors and assigns of
Lessor);

3. The Premises may be used exclusively by Lessee for erecting, installing, operating, and
maintaining Telecommunications Facilities; and;

4. Lessee is entitled to sublease and/or license the Premises, including any
Telecommunications Facilities located thereon.

This Memorandum is not intended to amend or modify, and shall not be deemed or construed as
amending or modifying, any of the terms, conditions or provisions of the Agreement. In the event of a
conflict between the provisions of this Memorandum and the provisions of the Agreement, the provisions
of the Agreement shall control. The Agreement shall be binding upon and inure to the benefit of Lessor and
Lessee and shall inure to the benefit of their respective heirs, successors, and assigns, subject to the
provisions of the Agreement.

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK, SIGNATURES BEGIN
ON NEXT PAGE]

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VB Site ID: US-AZ-7073
VB Site Name: PHO Windmul] Village

IN WITNESS WHEREOF, the parties hereto have executed this MEMORANDUM OF OPTION
TO LEASE effective as of the date last signed by a party hereto.

LESSOR:

City of Buckeye
an Arizona municipal corporation

By: _
Name:
Title: _
Date:

State of )

) ss.
County of )
On this day of _ , 2026, before me personally appeared.

the

of the

City of Buckeye, an Arizona municipal corporation, whose identity was proven to me on the basis of
satisfactory evidence to be the person who she/he claims to be, and acknowledged that she/he signed the
above/attached document, consisting of 7 pages, including exhibits, on behalf of said entity.

I certify under PENALTY OF PERJURY under the laws of the State of Arizona that the foregoing

paragraph is true and correct.

My Commission Expires:

ACCEPTED BY:

CITY OF BUCKEYE,
an Arizona municipal corporation

Doug Sandstrom, City Manager

ATTEST:

Lucinda J. Aja, City Clerk

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Notary Public

APPROVED AS TO FORM:

Tosca Henry, City Attorney

VB Site ID: US-AZ-7073
VB Site Name: PHO Windmull Village

Docusign Envelope ID: 3C8E1C82-C1B9-4494-8B36-2647263D5265

(Lessee’s Signature Page to Memorandum of Option to Lease)

WITNESSES: LESSEE:

VB BTS III, LLC
a Delaware limited liability company

7 ia! SBE cy
Name y Date: Ei Ti [ sm

DS
Leasing Ops
State of FLORIDA ) oy)

) ss.
County of PALM BEACH. )

On this hatha of tap vi) , 2026, before me personally appeared.

Ta uct ,the WW Lense Rami. of the
VB BTS III, LLC, a Delaware limited liability company, whose identity was proven to me on the basis of
satisfactory evidence to be the person who she laims to be, and acknowledged that sheffesigned the
above/attached document, consisting of 7 pages, including exhibits, on behalf of said enti

I certify under PENALTY OF PERJURY under the laws of the State of Id at the foregoing

paragraph is true and correct. € she Cr~_

Notary Public

My Commission Expires:

L\3 joa

ESTHER NELSON
Notary Public - State of Florida
Commission # HH 464044
My Comm. Expires Nov 13, 2027
Bonded through National Notary Assn.

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VB Site ID: US-AZ-7073
VB Site Name: PHO Windmill Village

EXHIBIT A
(TO MEMORANDUM OF OPTION TO LEASE)

The Property

The land referred to herein below is situated in the County of Maricopa, State of Arizona and !s described
as follows:

That portion of the Northwest quarter of Section 13, Township 1 North, Range 3 West of the Gila and Salt
River Base and Meridian, Maricopa County, Arizona, described as foliows:

Commencing at the Town of Buckeye brass cap, marking the Northwest corner of said Section 13, from
which a Maricopa County Department of Transportation aluminum cap stamped 29891, marking the North
quarter corner of said Section 13, bears North 89 degrees 50 minutes 17 seconds East, 2649.58 feet,
said line being the North line of the Northwest quarter of said Section 13 and the basis for the bearings for
this description;

Thence North 89 degrees, 50 minutes 17 seconds East, along said North line, 709 61 feet:

Thence South 00 degrees 22 minutes 12 seconds East, 65.00 feet to a line which is 65.00 feet South of,
and parallel with, the North line of said Northwest quarter and the point of beginning:

Thence North 89 degrees 50 minutes 17 seconds East, along said parallel line, 929 70 feet; .

Thence South 44 degrees 56 minutes 32 seconds East, 56.35 feet to a line which 1s 55.00 feet West of,
and parallel with, the monument line of Dean Road, as shown on the Map of Dedication for Sundance
Phase 2D, recorded in Book 711 of Maps, Page 24, Maricopa County Records;

Thence South 00 degrees 16 minutes 39 seconds West, along said parallel line, 525.02 feet to a line
which is 630.00 feet South of, and parallel with, the North line of said Northwest Quarter;

Thence South 89 degrees 50 minutes 17 seconds West, along said parallel line. 963.32 feet:
Thence North 00 degrees 22 minutes 12 seconds West, 565.00 feet to the point of beginning
Parcel ID: 504-21-033D

This being the same property as conveyed to The Town of Buckeye. Arizona, an Arizona municipal
corporation in a deed from BOKF, National Association, a national banking association d/b/a Bank of
Oklahoma. as successor-in-interest by name change to Bank of Oklahoma, N.A., a national banking
association in a deed dated May 1, 2013 and recorded May 3, 2013 as Instrument No. 20130407478.

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VB Site ID: US-AZ-7073
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EXHIBIT B
(TO MEMORANDUM OF OPTION TO LEASE)

The Premises
Lease Area

A portion of the Northwest quarter of Section 13, Township 1 North, Range 3 West of the Gila and Salt
River Base and Meridian, Maricopa County, Arizona, described as follows:

Commencing at the Town of Buckeye Brass Cap, marking the Northwest corner of said Section 13, thence
South 89°48’18” East along the North line of said Section 13, 739.35 feet;

THENCE departing said North line South 00°11°42” West 345.24 feet to the POINT OF BEGINNING;
THENCE North 90°00’00” East 30.00 feet;

THENCE South 00°00’00” East 30.00 feet;

THENCE South 90°00’00” West 30.00 feet;

THENCE North 00°00’00” West 30.00 feet to the POINT OF BEGINNING.

Said portion having an area. of 900 sq.ft., more or less.

Generator Compound Lease Area

A portion of the Northwest quarter of Section 13, Township 1 North, Range 3 West of the Gila and Salt
River Base and Meridian, Maricopa County, Arizona, described as follows:

Commencing at the Town of Buckeye Brass Cap, marking the Northwest corner of said Section 13, thence
South 89°48’18” East along the North line of said Section 13, 739.35 feet;

THENCE departing said North line South 00°11°42” West 345.24 feet;

THENCE South 00°00’00” East a distance of 30.00 feet;
THENCE South 09°28°51” East a distance of 20.28 feet to the POINT OF BEGINNING;

THENCE South 90°00’00” East a distance of 26.66 feet;

THENCE South 00°00’00” East a distance of 13.33 feet;

THENCE North 90°00°00” West a distance of 26.66 feet;

THENCE North 90°00°00” West a distance of 13.33 feet to the POINT OF BEGINNING.

Access Easement

A 12 foot Access Easement situated in the Northwest quarter of Section 13, Township 1 North, Range 3
West of the Gila and Salt River Base and Meridian, Maricopa County, Arizona, described as follows:

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VB Site ID: US-AZ-7073
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Commencing at the Town of Buckeye Brass Cap, marking the Northwest corner of said Section 13, thence
South 89°48’18” East along the North line of said Section 13, 739.35 feet;

THENCE departing said North line South 00°11°42” West 345.24 feet;

THENCE South 90°00’00” East 30.00 feet;

THENCE South 00°00’00” East 6.00 feet to the POINT OF BEGINNING of said Access Easement, lying
6.00 feet on each side of the following described centerline:

THENCE North 90°00’00” East 16.19 feet;

THENCE North 00°00’00” West 225.18 feet;

THENCE North 90°00’00” East 251.26 feet;

THENCE North 00°11°42” East 60.05 feet to the Southerly right of way line of Yuma Road, sidelines of
said easement extend or retract to said right of way line.

Having a total length of 552.68 feet, more or less.

Utility Easement

A 3 foot Utility Easement situated in the Northwest quarter of Section 13, Township | North, Range 3 West
of the Gila and Salt River Base and Meridian, Maricopa County, Arizona, described as follows:

Commencing at the Town of Buckeye Brass Cap, marking the Northwest corner of said Section 13, thence
South 89°48’ 18” East along the North line of said Section 13, 739.35 feet;

THENCE departing said North line South 00°11’42” West 345.24 feet;

THENCE South 90°00’00” East 30.00 feet to the POINT OF BEGINNING of the centerline of said Utility
Easement, lying 1.50 feet on each side of the following described centerline:

THENCE continuing South 90°00’00” East 1.50 feet;

THENCE North 00°00°00” West 48.82 feet to a point hereby designated as Point “A”;
THENCE continuing North 00°00’00” West 7.58 feet;

THENCE North 90°00’00” West 2.57 feet to the POINT OF TERMINUS.

ALSO including the following centerline of said easement lying 1.50 feet on each side of the following
described centerline:

COMMENCING at the said Point “A” thence South 90°00’00” West 10.49 feet;
THENCE North 36°44’55” West 6.60 feet to the POINT OF TERMINUS.

Having a total length of 77.56 feet, more or less.

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VB Site ID: US-AZ-7073
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