RECORDING
REQUESTED BY AND,
WHEN RECORDED, RETURN TO :
NetApp,
Inc.
7301 Kit Creek Road
Research Triangle Park, NC 27709
Attention: Ingemar Lanevi
AGREEMENT CONCERNING
GROUND LEASE (FOR RTP DATA CENTER)
THIS AGREEMENT
CONCERNING GROUND LEASE (this “ Agreement ”)
dated as of April 1, 2009 (the “ Effective Date
”), is made by and between BNP PARIBAS LEASING CORPORATION
(“ BNPPLC ”), a Delaware corporation, and
NETAPP, INC. (“ NAI ”), a Delaware corporation,
which is the successor by merger to Network Appliance,
Inc.
This Agreement
is entered into upon, and with respect to, the following facts and
intentions:
A. BNPPLC and
NAI’s predecessor-in-interest, Network Appliance, Inc., have
heretofore entered into the following agreements:
(1) Amended and
Restated Ground Lease (RTP Data Center) dated as of
November 29, 2007 (as the same may have been modified, the
“ Ground Lease ”), which (A) was referenced
in the two recorded short form documents described in the next two
subparagraphs, and (B) was an amendment and restatement of the
Ground Lease dated as of July 17, 2007 recorded in Book
012665, page 00268 of the Wake County, North Carolina Registry.
Pursuant to the Ground Lease, NAI, as ground lessor, ground leased
to BNPPLC, as ground lessee, that certain land more particularly
described in Exhibit A attached hereto and incorporated
herein by this reference (herein the “ Land
”).
(2) Amended and
Restated Lease Agreement (RTP Data Center) dated as of
November 29, 2007 (as the same may have been modified, the
“ Sublease ”), which was the subject of that
certain Short Form of Amended and Restated Lease Agreement dated as
of November 29, 2007 (the “ Short Form of
Sublease ”) recorded in Book 013007, page 01436 of the
Wake County, North Carolina Registry. Under the Sublease, BNPPLC,
as sublessor, leased to NAI, as sublessee, BNPPLC’s ground
leasehold interest in the Land and all of the improvements located
thereon (collectively the “ Subleased Premises
”).
(3) Amended and
Restated Purchase Agreement (RTP Data Center) dated
as of
November 29, 2007 (as the same may have been modified, the
“ Purchase Agreement ”), which was the subject
of that certain Memorandum of Amended and Restated Purchase
Agreement dated as of November 29, 2007, recorded in Book
013007, page 01454 of the Wake County, North Carolina
Registry.
(4) Amended and
Restated Common Definitions and Provisions Agreement (RTP Data
Center) dated as of November 29, 2007 (as the same may
have been modified, the “ Common Definitions and
Provisions Agreement ”), which was not recorded, but was
incorporated by reference into the documents listed above. As
used in this Agreement, capitalized terms defined in the Common
Definitions and Provisions Agreement and not otherwise defined in
this Agreement are intended to have the respective meanings
assigned to them in the Common Definitions and Provisions
Agreement .
B. BNPPLC and
NAI now mutually wish to terminate the Ground Lease on the terms
and conditions more particularly herein set forth.
NOW, THEREFORE,
for good and valuable consideration the adequacy of which is hereby
acknowledges, the parties hereto agree as follows:
1.
Termination of Ground Lease . As of the Effective Date,
BNPPLC hereby surrenders all of its right title and interest in the
Ground Lease unto NAI, subject only to the “Permitted
Encumbrances” described in Exhibit B attached
hereto and incorporated herein by this reference, and the Ground
Lease is hereby terminated. Notwithstanding anything to the
contrary in this Agreement, BNPPLC does, for itself and its
successors, covenant, warrant and agree to defend the title to the
Land against claims and demands of any person claiming under or
through a Lien Removable by BNPPLC. Except as expressly set forth
in the preceding sentence, BNPPLC makes no warranty of title,
express or implied, concerning the Land.
2.
Acknowledgment of Reversion . BNPPLC also acknowledges and
agrees that because of the termination of the Ground Lease, all of
BNPPLC’s right, title and interest in and to the following
property will revert to NAI and BNPPLC does hereby forever
relinquish, waive, and quitclaim unto NAI (subject to such
Permitted Encumbrances):
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A.
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the
Sublease;
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B.
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the
Purchase Agreement;
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C.
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any
pending or future award made because of our condemnation affecting
the Property or because of any conveyance to be made in lieu
thereof, and any unpaid proceeds of insurance or claim or cause of
action for damages, loss or injury to the Subleased Premises;
and
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Agreement Concerning Ground Lease
(RTP Data Center) — Page 2
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D.
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all
other property included within the definition of
“Property” as set forth in the Purchase Agreement,
including the Subleased Premises;
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provided,
however, that excluded from this provision and quitclaim, and
reserved to BNPPLC, are any rights or privileges of BNPPLC under
the following are expressly reserved and retained by BNPPLC:
(I) the indemnities set forth in the Sublease and the Ground
Lease, whether such rights are presently known or unknown,
including rights of BNPPLC to be indemnified against environmental
claims of third parties, as provided in the Ground Lease which may
not presently be known; and (ii) provision in the Sublease that
establish the right of BNPPLC to recover any accrued unpaid rent
under the Sublease which may be outstanding as of the date hereof;
and (iii) agreements between BNPPLC and BNPPLC’s Parent
or any Participant, or any modification or extension
thereof.
BNPPLC agrees
to warrant and defend the title to the Subleased Premises as herein
relinquished, against claims and demands of any person claiming
under or through a Lien Removable by BNPPLC relating to the
Subleased Premises. Except as expressly set forth in the preceding
sentence, BNPPLC makes no warranty of title, express or implied,
concerning the Subleased Premises or any other property referenced
or described in this Section 2.
3.
“As Is” Reversion . Notwithstanding any contrary
provisions contained herein, NAI acknowledges that BNPPLC makes no
representations or warranties of any nature or kind, whether
statutory, express or implied, with respect to environmental
matters or the physical condition of the Subleased Premises, and
NAI, by acceptance of this agreement, accepts the Subleased
Premises “As Is,” “Where Is,” and
“With All Faults,” and without any such
representation or warranty by BNPPLC as to environmental matters,
the physical condition of the Subleased Premises, compliance with
subdivision or platting requirements or construction of any
improvements. Without limiting the generality of the foregoing, NAI
hereby further acknowledges and agrees that warranties of
merchantability and fitness for a particular purpose are excluded
from the transactions contemplated by this Agreement, as are any
warranties arising from a course of dealing or usage of trade. NAI
hereby assumes all risk and liability (and agrees that BNPPLC will
not be liability for any special, direct, indirect, consequential,
or other damages) resulting or arising from or relating to the
ownership, use, condition, location, maintenance, repair, or
operation of the Subleased Premises, except for damages proximately
caused by (and attributed by any applicable principles of
comparative fault to) any “Established Misconduct” (as
defined in the Common Definitions and Provisions Agreement) of
BNPPLC.
4.
Binding Effect . The terms, provisions, covenants, and
conditions hereof will be binding upon NAI and BNPPLC and their
respective successors and assigns, and any other party claiming
through either of them, and will inure to the benefit of NAI and
BNPPLC and all transferees, mortgages, successors and
assigns.
Agreement Concerning Ground Lease
(RTP Data Center) — Page 3
5.
Miscellaneous . This Agreement and any other agreement
relating hereto and executed concurrently herewith represent the
entire agreement of the parties hereto with respect to the subject
matter hereof and supersede any prior negotiations and agreement
between BNPPLC and NAI concerning the subject matter hereof. No
amendment or modification of this Agreement will be binding or
valid unless express in a writing executed by both parties hereto.
This Agreement will be governed by and construed in accordance with
the laws of the State of North Carolina without regard to conflict
or choice of laws. Words in the singular number will be held to
include the pl
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