Cell tower letters of intent... death from above. The latest sneaky trick we have encountered is cell tower companies that are using “Letters of Intent” as an acquisition tool to unwittingly get property owners to sign what they believe to be a harmless letter. Some landlords are led to believe that this is “just a simpler way for tower companies to lock in these terms with our bosses” or “just a letter of understanding so that the potential cell tower site can be further investigated”. Well these letters of intent are not simple, but we can tell you what they are legally binding in many cases.
Signing a letter of intent is a mistake that recently cost a landlord in Colorado $250,000.00 dollars in revenue over a thirty year period that they would have received if they had just picked up the phone and called us first before they listened to the cell tower developers.
Why would you ever have to sign any type of agreement before you ever see the terms?
Additionally, why would anyone try and get you to sign anything unless it is binding and could be used against you in a court of law? There is no other reason.... this is the reason they try and get you to sign this. The only person that is being locked into anything is you and usually in a way that is very one sided and only benefits the carriers and the cellular tower companies.
The consultants they hire are very charming and friendly and may remind you of you brother, cousin or child. Some are fine people who are just doing their jobs. Many of them are sharks who smell a quick buck and would shove you down a flight of stairs for a nickel. Either way they do not work for you... They are hired guns that work for the carriers and the tower companies.
Here is the rule for dealing with tower companies or carriers who try and get you to sign a “Letter of Intent” ....... DON’T SIGN ANYTHING!!!!!!! Call your counsel or better yet call a qualified wireless consultant that can guide you and fight for your rights and needs. The carriers have experts...why shouldn’t you?
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