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Verizon closing documents prompt attorney review after pricing typo; council expects delay
Summary
Verizon provided multiple closing documents for a tower access lease; the clerk flagged a typographical pricing error (document listed $15,000 instead of $115,000) and said the town attorney will review before signing; the lease is for access, not a land sale, and a 50-year term was agreed.
The clerk reported that Verizon sent five closing documents for a proposed access lease to a Verizon tower. During review, the clerk identified a typographical error in one document that listed the price as $15,000 rather than the correct $115,000. The clerk said he asked that the town attorney review the documents before signing and indicated that completion may take a week or two while the attorney examines the legal language.
The clerk emphasized that Verizon is seeking access (a lease) rather than purchase of the land: “they’re just buying our commission to go in and out of it… they’re just leasing it and it’s not forever,” the clerk said, and noted that the parties agreed to a 50-year lease term rather than an indefinite term originally proposed.
Because the town’s attorney will review the paperwork, signing will be delayed until counsel signs off. The clerk said the town expects to mail finalized documents once approved and that the corrected closing will result in the town receiving approximately $115,000 under the agreement as discussed in the record.
