modifying or terminating a lease agreement

by Kim
(Bend, Oregon)

I live in Oregon. In 2009, my father-in-law signed a lease agreement with AT&T to have a cell tower placed on his property. AT&T specifically picked the site do to its proximity to the local airfield as the placement site is the only one in the area that allows a tower of its type to be within the airport safety zone do to some related FAA extenuating circumstance (negotiated rate of $600 a mo.). Anyway, dad died not long after & now my elderly mother-in-law is trying to sell their beautiful home on 6 acres but no one wants the tower eyesore or its worthless $600 mo. income. And, I agree with them. I've always felt the folks were taken advantage of. I truly believe the cell site is very precious to AT&T and think they would pay more per month if they were "persuaded" in the right way. According to the contract the lease is do to renew automatically may 2014. Is it possible for my mother-in-law to request in writing that the automatic renewal be postponed in order to modify the terms of the lease or is it too late?

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Oct 29, 2013
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by: Anonymous

Kim,

I agree with anonymous. Contact a buyer and see what they will offer you. AT&T probably has the right of first refusal. That means they can up the price of anyone's offer so you don't sell to anyone else.
Oct 19, 2013
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by: Anonymous

Hi

The $600.00 per month has a present cash value that may surprise you. There are many companies that buy the "lease" or stream of payments. I have a lease on my manufacturing property with ATT, SPRINT, and Clearwire. I have a current offer of $800,000 for my lease.

Years ago i was offered $65,000 for it. Imagine if i had sold.

Some cell tower buyers are, Unison, Crown castle, American Tower, WPC, around 15 to date have contacted me.

Good luck

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