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<PAGE>
Exhibit 10.21
TENANT LEASE SUMMARY
PROPERTY LEASED: 5000 TREMONT AVENUE BUILDING 300, SUITES 302
and 303
Consisting of 8,652 Square Feet
TENANT: iPCS Wireless, Inc.
11 Hawkeye Lane
Geneseo, IL 61254
LANDLORD: Investment Lease Corporation (ILC) Mailing
Address:
5000 Tremont Avenue, Suite 400B ILC
Davenport, IA 52807 5000 Tremont Avenue, Suite 400B
Davenport, Iowa 52807
Period From October 1, 2000 To September 30, 2015
Option From ________ To ______________
1st Year's Rent $51,912.00
Common Area Percentage 50% of Building 300
Tenant Lease: This Lease consists of page 1 to page 12 all
inclusive.
<PAGE>
INDEX
(continued)
-ii-
INDEX
Page
-i-
1. PREMISES AND
TERM.....................................................3
2.
RENTAL................................................................3
3. RENEWAL
OPTION........................................................4
4.
POSSESSION............................................................4
5. USE OF
PREMISES.......................................................4
6. QUIET
ENJOYMENT.......................................................4
7. UTILITIES AND OTHER
SERVICES..........................................4
8. REPAIR AND
MAINTENANCE................................................4
9. TENANT'S PROPORTIONATE SHARE OF COSTS OF COMMON AREAS AND
FACILITIES..5
10. COMMON AREA
EXPENSE...................................................5
11. USE OF PARKING
Facilities.............................................5
12. CHARGES FOR
UTILITIES.................................................5
13. CONDITIONS OF
PREMISES................................................5
14. RESTRICTIONS ON ASSIGNMENT, SUBLETTING AND
USE........................5
15. COMPLIANCE WITH
LAW...................................................6
16. HAZARDOUS
MATERIALS...................................................6
17. TERMINATION PRIVILEGES UPON DAMAGE BY FIRE OR OTHER
CASUALTY..........6
18. PERSONAL PROPERTY AT RISK OF
TENANT...................................6
19. INSURANCE PROVIDED BY
TENANT..........................................7
20. DENIAL OF SUBROGATION
RIGHTS..........................................7
21. CONDEMNATION OF
PREMISES..............................................7
22. PAYMENT OF PORTION OF INCREASE IN TAXES AND
INSURANCE.................7
23. RIGHT OF LANDLORD TO ENTER FOR REPAIRS AND OTHER
PURPOSES.............8
24A.
DEFAULT...............................................................8
24B.
INSOLVENCY............................................................8
25. ADDITIONAL
PAYMENTS...................................................8
26. RULES AND
REGULATIONS.................................................8
27. SIGNS AND OTHER
IDENTIFICATION........................................9
28. SUBORDINATION OF LEASE TO
MORTGAGES...................................9
29. SURRENDER INVALID UNLESS
WRITTEN......................................9
30. HOLDING
OVER..........................................................9
31. WAIVER OF LANDLORD'S
LIEN............................................10
32.
WAIVER...............................................................11
33.
NOTICES..............................................................11
34. NO OTHER
AGREEMENTS..................................................11
35.
INDEMNIFICATION......................................................11
36. APPICABLE
LAW........................................................12
37. EXPLANATORY
PROVISIONS...............................................12
<PAGE>
LEASE
BUSINESS PROPERTY
THIS LEASE AGREEMENT, executed in duplicate, made and entered
into this
17 day of August, 2000, by and between Investment Lease
Corporation ("ILC"
hereinafter called "Landlord"), whose address for the purpose of
this lease is
5000 Tremont Avenue, Suite 400B, Davenport, IA 52807 and iPCS
Wireless, Inc., a
Delaware corporation (hereinafter called "Tenant"), whose
address for the
purpose of this lease is 11 Hawkeye Lane, Geneseo, IL 61254.
WITNESSETH THAT:
1. PREMISES AND TERM. Landlord, in consideration of the rents
herein
reserved and of the agreements and conditions herein contained,
on the part of
Tenant to be kept and performed, leases unto Tenant and Tenant
hereby rents and
leases from Landlord, according to the terms and provisions
herein, the
following described real estate, situated in Scott County, Iowa,
to wit: 5000
BUSINESS PARK (referred to as "Business Park"), 5000 Tremont,
Davenport, Iowa,
Suites 302 and 303, containing approximately 8,652 square feet
and representing
50% of Building 300 in the Business Park, with the improvements
thereon and all
rights, easements and appurtenances thereto belonging, if and as
may be attached
hereto, for a term of (15) fifteen years, commencing at midnight
on the first
day of the lease term, which shall be on the 1 day of October,
2000, and ending
at midnight on the last day of the lease term, which shall be on
the 30 day of
September, 2015, upon the condition that Tenant pays rent
therefore, and
otherwise performs as in this lease provided. This lease will
automatically
terminate at the end of its natural term, unless renewal option
is exercised.
The use and occupation by Tenant of the leased premises shall
include the use in
common with others entitled thereto of such common additional
areas, including
without limitation, the parking facilities, as may be designated
from time to
time by Landlord, subject however to the terms and conditions of
this agreement
and to reasonable rules and regulations for the use thereof as
prescribed from
time to time by Landlord. Said common additional areas are
hereinafter referred
to as the "Common Areas".
2. RENTAL. Tenant agrees to pay to Landlord as rental for said
term as follows:
TO: ILC
5000 Tremont Avenue, Suite 400
Davenport, IA 52807
BASE RENTAL RATE
Monthly installment of rent is due in advance of the first day
of each month.
(Plus Common Area maintenance cost, taxes, and insurance on the
property, which
are not included in below calculations.)
YEARS ANNUAL RENT MONTHLY RENT PER SQ FT
1-2-3 $51,912.00 $4,326.00 $6.00
4-5-6 $56,670.60 $4,722.55 $6.55
7-8-9 $62,294.40 $5,191.20 $7.20
10-11-12 $67,918.20 $5,659.85 $7.85
13-14-15 $73,974.60 $6,164.55 $8.55
In addition to the above monthly rental, Tenant will also pay an
amount equal to
50% per month of the Common Area expense charges set out in
paragraph 10,
paragraph 11, paragraph 13, and paragraph 22 below.
Charges projected for year 2000 are $1,333.85 per month, $l.85
per square foot,
in addition to the base rent. Rent adjustment in these costs are
made annually
with the anniversary date being the first of January.
All sums shall be paid at the address of Landlord, as above
designated, or at
such other place in Iowa, or elsewhere, as Landlord may, from
time to time,
designate in writing.
Delinquent payments shall draw interest at one and one half
percent (1.5%) per
month from the delinquent due date until paid. Rent shall be
considered
delinquent five (5) business days after the due date and shall
draw interest at
that time.
3. RENEWAL OPTION. Notice to Landlord of intent to exercise said
option to
renew shall be given by written notice 120 days prior to
expiration of original
term. All other terms and provisions of the lease, particularly
including the
payment of a proportional share of expenses, will apply during
said option
period.
BASE RENT RATE FOR OPTION PERIOD, SHALL BE AGREED TO AT TIME OF
RENEWAL.
DATE ANNUAL RENT MONTHLY RENT PER SQ FT
------------- $------------ $----------- $-------------
4. POSSESSION. Tenant shall be entitled to possession on the
first day of the
term of this lease and shall yield possession to Landlord at the
time and date
of the close of this lease term, except as herein otherwise
expressly provided.
Should Landlord be unable to give possession on said date,
Tenant's only damages
shall be a rebating of the pro rata rental.
5. USE OF PREMISES. Tenant covenants and agrees during the term
of this lease to
use and to occupy the leased premises only for
telecommunications switch center,
general office use, warehouse storage and distribution.
6. QUIET ENJOYMENT. Landlord covenants and agrees with Tenant
that so long as
Tenant pays the Rent and all other obligations such as Common
Area maintenance,
taxes, and insurance and observes and performs all the terms,
covenants and
conditions of this Lease on Tenant's part to be observed and
performed, Tenant
may peaceably and quietly enjoy the Premises subject,
nevertheless, to the terms
and conditions of this Lease, and Tenant's possession will not
be disturbed by
anyone claiming by, through or under Landlord.
7. UTILITIES AND OTHER SERVICES. The Landlord shall not be
required to furnish
to the Tenant any utilities or services of any kind, except as
specifically set
forth in this lease.
8. REPAIR AND MAINTENANCE. The Tenant shall, at his sole
expense, keep the
interior of the leased premises, including all windows, doors,
and glass, in as
good order and repair as it was upon the commencement of this
lease, reasonable
wear and tear expected. Tenant shall also maintain the premises
in a clean and
orderly condition, and shall not cause the exterior of the
leased premises or
any part of the real property upon which the leased premises is
situated to
become littered, disorderly, or unsightly in any manner. The
Landlord shall keep
the structural supports, external walls and roof of the building
and leased
premises in good order and repair and shall be responsible for
the operation and
maintenance of all Common Areas and facilities as hereinafter
provided. Landlord
shall further be responsible for all major repair or replacement
of plumbing,
air conditioning, compressor and heat exchanger facilities.
Tenant shall be
responsible for the first $300 of expense for each incident of
repair or
replacement, and Landlord shall be responsible for and shall pay
any amount in
excess of $300 per incident. The Tenant shall also maintain in
good order all
ordinary and necessary repairs to all equipment installed and
used for the
purpose of heating and air conditioning of the leased premises
wherever such
equipment may be located. On default of Tenant in making such
repairs or
maintaining a clean and orderly condition, Landlord may, but
shall not be
required to, make such repairs or clean up or shall take other
necessary action
for Tenant's account, and the expense thereof shall be payable
by Tenant to
Landlord within ten business days of written notice thereof. Any
damage caused
or repairs necessitated with respect to the leased premises or
the building and
real property of which the leased premises are a part, by
excessive wear and
tear resulting from the operation of the business of Tenant, or
from willful or
negligent acts on the part of Tenant, its employees, agents,
invitees or
contractors, shall be the responsibility of Tenant and Tenant
shall reimburse
Landlord for any expense in connection therewith.
9. TENANT'S PROPORTIONATE SHARE OF COSTS OF COMMON AREAS AND
FACILITIES. In
addition to the rental payment pursuant to paragraph 2 hereof,
the Tenant shall
pay to the Landlord upon demand a proportionate share of the
cost of operating
and maintaining all Common Areas and facilities, including
without limitation
all parking areas, access roads, sidewalks, landscaped space and
other space, in
common or available for use in common by the Tenant or his
customers, employees,
agents or other invitees. Operating and maintaining all areas
and facilities
shall include, without limitation, furnishing exterior and
parking area
lighting, parking lot repairs, cleaning, snow removal, line
painting, care of
grass, shrubs and plants, payment of water and sewerage charges,
maintenance,
repair and replacement of utility systems, exterior painting,
pest control,
general roof repair, billing cost, and general maintenance of
the Business Park
and of all areas and facilities provided by the Landlord for the
common use of
the occupants of the Business Park. The term "proportionate
share" as used in
this paragraph or elsewhere in this lease shall mean such
proportionate part of
the total costs to which said share applies as the square feet
of floor area
occupied by the Tenant bears to the total square feet of
rentable floor area in
the Business Park.
10. COMMON AREA EXPENSE. (a) Tenant agrees that the monthly
Common Area
expense will include taxes, insurance, and all expenses relating
to said center
and the Common Areas contained therein and parking lots adjacent
thereto as
defined in Paragraph 22. Tenant understands that the Common Area
expenses will
be adjusted at the end of the year based on actual expenses. If
Common Area
expenses are not paid, they will bear interest at one and one
half percent
(1.5%) per month.
11. USE OF PARKING Facilities. Tenant and its employees and
customers shall
have the non-exclusive right, in common with the Landlord and
other tenants of
said Business Park, to park automobiles in the parking area
provided by the
Landlord, subject to such reasonable rules and regulations as
the Landlord may
from time to time impose, including the designation of specific
areas in which
automobiles of the Tenant and its employees must be parked. Upon
written notice
from the Landlord, the Tenant will furnish the Landlord with the
license numbers
assigned to its automobiles and the automobiles of its
employees.
12. CHARGES FOR UTILITIES. Tenant shall pay all charges for
gas,
electricity, light, heat, power and telephone used or supplied
upon or in
connection with the leased premises and shall indemnify the
Landlord against any
liability on account thereof. It is the intention that Tenant
pay for all
utilities for the leased premises of any kind and, accordingly,
Tenant shall pay
its proportionate share of any utility charge relating to or
used in or at the
leased premises, but which is not separately metered
thereto.
13. CONDITIONS OF PREMISES. The Tenant has examined the leased
premises and
is satisfied with the condition thereof, including all equipment
and
appurtenances, and its taking possession thereof shall be
conclusive evidence of
its receipt thereof in good and satisfactory order and repair.
The occupancy by
Tenant of the leased premises shall constitute an acknowledgment
by Tenant that
the leased premises are in the condition called for by this
lease.
14. RESTRICTIONS ON ASSIGNMENT, SUBLETTING AND USE. (a)
Assignment and
Subletting. Tenant agrees not to assign or in any manner
transfer this lease or
any estate or interest therein without the previous written
consent of Landlord
which consent should not be unreasonably withheld or delayed;
and, not to sublet
the leased premises or any part or parts thereof or allow anyone
to come in
with, through or under him without like consent. Consent by the
Landlord to one
assignment of this lease or to one subletting or to any other
occupancy of said
leased premises shall not operate to exhaust the Landlord's
right hereunder.
Notwithstanding anything contained herein to the contrary,
Tenant may, with
notice to but without the consent of Landlord, assign this lease
to any entity
which is the surviving entity of a merger or reorganization
involving Tenant or
to any entity which acquires all or substantially all of
Tenant's assets, so
long as such entity's creditworthiness is satisfactory to
Landlord.
(b) Use. Tenant shall not use or permit the leased premises to
be used for
any purpose other than as above stated, nor keep or store in or
about the
premises anything which will increase the rate of insurance on
the leased
premises, nor make any alterations, additions or improvements,
without the
written consent of the Landlord. Tenant will not invalidate any
policies of
insurance now or hereafter in force with respect to the leased
premises and will
pay all extra insurance premiums if any, required solely or
directly on account
of extra risk caused by the Tenant's use of the leased premises.
Any
construction, remodeling, additions, improvements or fixtures,
except movable
office furniture and trade fixtures, shall be made or installed
by the Tenant at
Tenant's sole expense, upon the leased premises only after the
Landlord has
given written consent thereto, shall be the property of the
Landlord, and shall
remain and be surrendered in good condition with the leased
premises as a part
thereof at the termination of this lease, by lapse of time or
otherwise. If
Landlord is required by any city, county, state, or federal
codes or laws, in
its sole discretion to make alterations or improvements to the
premises as a
result of the nature of Tenant's business, whether to comply
with the provisions
of paragraph 16 or otherwise. Tenant shall bear the cost
thereof. Tenant agrees
to pay promptly for any work done or material furnished to or at
the request of
Tenant in or about the leased premises and not to suffer or
permit any lien to
attach to the leased premises and Tenant further agrees to cause
any such lien
or any claims therefore to be released promptly; provided,
however, that in the
event Tenant contests any such claim, Tenant agrees to indemnify
and secure
Landlord to Landlord's satisfaction. Notice is hereby given that
no mechanic's
or material men's or other liens sought to be taken or vested on
the leased
premises or the building of which the leased premises is a part
shall in any
manner affect the right, title or interest of the Landlord
therein, and Tenant
shall have no authority from Landlord to permit or create such
lien. No items of
any kind shall be stored or left for any period of time outside
the confines of
the leased premises without the prior written consent of
Landlord. Tenant shall
maintain a constant temperature of no less than 38 degrees
Fahrenheit in the
leased premises. Landlord has the option to have Tenant restore
the leased
premises to same manner before Lease, except for normal wear and
tear including
any improvements or alterations made by Tenant.
15. COMPLIANCE WITH LAW. The Tenant shall accomplish any
construction or
remodeling with respect to the leased premises (including any
plans relating
hereto), and shall keep the leased premises and operate his
business therein, in
a manner which shall be in compliance with all applicable laws,
ordinances,
rules and regulations of the city, county, state and federal
government and any
department thereof, will not permit the leased premises to be
used for any
unlawful purpose, and will protect the Landlord and save
Landlord and the leased
premises harmless from any and all fines and penalties that may
result from or
be due to any infractions of or noncompliance with such laws,
ordinances, rules
and regulations by Tenant.
16. HAZARDOUS MATERIALS. Tenant shall indemnify Landlord and
hold Landlord
harmless from and against any and all losses, costs or damages,
however
characterized, including reasonable attorneys fees, incurred by
or asserted
against Landlord as a result of the release or disposal of any
asbestos,
pollutant, toxic or hazardous waste or substance, or any other
material the
release or disposal of which is regulated by any law,
regulation, ordinance or
code (collectively, "Hazardous Material") in, on or about the
Real Property, or
any part thereof, by Tenant during the Lease Term, or any
extension or renewal
thereof.
17. TERMINATION PRIVILEGES UPON DAMAGE BY FIRE OR OTHER
CASUALTY. In case
the leased premises, or any part thereof, shall at any time be
destroyed by fire
or other casualty, without the fault of the Tenant, so that the
same shall be
unfit for use or occupancy, then the rent hereby reserved, or a
fair and just
proportion thereof, according to the nature and extent of the
damage sustained
in loss of use or occupancy, shall be suspended, cease to be
payable and so
continue until the leased premises shall be rebuilt or made fit
for use and
occupancy. If such damage to the premises or to the building in
which the leased
premises are situated is to the extent of fifty percent (50%) or
more, or, if in
the judgment of Landlord the leased premises have been damaged
to the extent
that they can no longer be utilized as an integrated whole, then
this lease may
be terminated at the election of the Landlord, notice of which
election, if
exercised, shall be given in writing within forty-five (45) days
from the date
of casualty. In the event that the building containing the
leased premises is
totally destroyed or work to put the leased premises in
tenantable condition is
not commenced within forty-five (45) days from the time of such
damage and
continued thereafter, with reasonable diligence, all things
being considered,
then this lease may be terminated at the election of the Tenant,
notice of which
election, if exercised, must be given in writing within sixty
(60) days from the
date of casualty or at any time thereafter during the period of
repair if the
work to put the leased premises in tenantable condition is not
being pursued
with reasonable diligence or completed within the time period
specified above.
18. PERSONAL PROPERTY AT RISK OF TENANT. All personal property
in the
premises shall be at the risk of Tenant only. The Landlord shall
not be or
become liable for any damage to such personal property, to the
leased premises
or to Tenant or any other persons or property as a result of
water leakage,
sewerage, electric failure, gas or odors or for any damage
whatsoever done or
occasioned by or from any plumbing, gas, water or other pipes or
any fixtures,
equipment, wiring or appurtenances whatsoever, for any damage
caused by water,
snow or ice being or coming upon the leased premises, or for any
damage arising
from any act of neglect of other tenants, occupants or employees
of the building
in which the leased premises are situated or arising by reason
of the use of, or
any defect in, said building or any of the fixtures, equipment,
wiring or
appurtenances therein, or by the act or neglect of any other
person or caused in
any other manner whatsoever.
19. INSURANCE PROVIDED BY TENANT. During the term of this lease,
the Tenant
shall, at his own expense and with a company satisfactory to
Landlord, provide
and maintain in full force and effect an insurance policy or
policies protecting
the Landlord and Tenant and their officers and employees against
any loss,
liability or expense from personal injury, death, property
damage or otherwise
arising or occurring upon or in connection with the leased
premises or by reason
of the Tenant's operations upon or occupancy of the premises,
whether the same
occurs or the ca
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