Overview of Build-to-Suit Arrangement

• ClearShot and Client execute a Non-Discolsure Agreement
• Client provides antenna site search rings or site leases for ClearShot's review.
• ClearShot contracts directly with Client to develop tower sites.
• ClearShot reimburses Client for engineering costs incurred.
• ClearShot and Client enter into ClearShot's Lease Agreement for a total term of up to 25 years. Client's Lease fee compares favorably with existing structure lease rates and significantly undercuts Client's cost of site development and ownership.
• ClearShot bears all ongoing expenses of real estate, maintenance, tower marking and lighting, insurance and marketing. Carrier bears cost of its equipment installation, utilities, taxes and maintenance.
• ClearShot can provide equipment installation and routine equipment maintenance services.

Summary of Carrier Built-To-Suit Agreement

• New source of vendor financing structured as operating lease expense. Our financing replaces precious equity capital.
• Average effective cost is projected to be substantially less than Carrier's cost of capital over lease life. The tower site capital expenditure can be deferred indefinitely.
• ClearShot uses highest quality site acquisition, engineering and construction firms. We can integrate our carrier's preferred vendors into the site development process.
• Minimize carrier's ongoing real estate and infrastructure maintenance expenses.
• Facilitate zoning issues through ClearShot's focus on co-location sites.
• Professional site design and ongoing management eliminates typical problems of co-location tower sites.
• Carrier may assign its lease rights to a successor or affiliated company.