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FIRST AMENDMENT TO LEASE

Lease Agreement

FIRST AMENDMENT TO LEASE | Document Parties: QUALITY SYSTEMS INC | HILL MANAGEMENT SERVICES, INC | PRACTICE MANAGEMENT PARTNERS, INC | REHABCARE GROUP, INC You are currently viewing:
This Lease Agreement involves

QUALITY SYSTEMS INC | HILL MANAGEMENT SERVICES, INC | PRACTICE MANAGEMENT PARTNERS, INC | REHABCARE GROUP, INC

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Title: FIRST AMENDMENT TO LEASE
Governing Law: Maryland     Date: 2/6/2009
Industry: Software and Programming     Sector: Technology

FIRST AMENDMENT TO LEASE, Parties: quality systems inc , hill management services  inc , practice management partners  inc , rehabcare group  inc
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Exhibit 10.2

FIRST AMENDMENT TO LEASE

          THIS FIRST AMENDMENT TO LEASE (this “ Amendment ”) is made as of this 15 th day of January, 2008, by and between HILL MANAGEMENT SERVICES, INC., a Maryland corporation, agent for the owner (“ Landlord ”), and PRACTICE MANAGEMENT PARTNERS, INC., a Maryland corporation (“ Tenant ”).

Recitals

          A. Landlord and Tenant entered into a Lease dated April 12, 2007 (the “ Lease ”), for Suite LL4, 500 and 600 deemed to consist of 29,935 square feet (the “ Initial Leased Premises ”), which has an address of 11350 McCormick Road, Hunt Valley, Maryland 21031 in Executive Plaza IV in Baltimore County, Maryland (the “ Property ”).

          B. Landlord and Tenant now desire to amend certain provisions of the Lease to provide Tenant with additional office space in the Property.

Agreements

          NOW, THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree as follows:

          Section 1. Amendment of Lease . The provisions of the Lease are amended as follows:

          1.1. Leased Premises . Commencing June 1, 2010, the Leased Premises shall be deemed to consist of 33,482 square feet, and shall be comprised of the Initial Leased Premises and an additional 3,547 square feet known as Suite 702 of the Property (the “ Additional Leased Premises ”). The Additional Leased Premises are more particularly depicted as outlined in red on Exhibit A , attached hereto and made a part hereof.

          1.2. Rent . Commencing on June 1, 2010, Tenant shall pay to Landlord annual basic rent of Six Hundred Eighty-Six Thousand Three Hundred Eighty-One and 00/100 Dollars ($686,381.00), payable in equal monthly installments of Fifty-Seven Thousand One Hundred Ninety-Eight and 42/100 Dollars ($57,198.42). Commencing June 1, 2011, and for each succeeding lease year thereafter, the annual basic rent shall be increased to an amount equal to 103% of the annual basic rent for the immediately preceding lease year as set forth in Section 2.C. of the Lease. The Expiration Date of the Initial Lease Term as detailed in Section 1.A. of the Lease shall remain unchanged.

          1.3. Tenant’s Proportionate Share . Commencing June 10, 2010, Tenant’s Proportionate Share, as defined in Section 2.E. of the Lease, shall be amended to delete 23.98% and substitute, in lieu thereof, 26.82%. Tenant’s Proportionate Share is based upon the relationship between the square footage of the Leased Premises (approximately 33,482 square feet) and the total square footage in the Property (approximately 124,838 square feet) or 26.82% (“ Tenant’s Proportionate Share ”).

          1.4. Right Of First Refusal . Commencing June 1, 2010, the term First Refusal Space as defined in Section 28. of the Lease, shall be amended to delete “all contiguous office space to the Leased Premises” and substitute, in lieu thereof, “all office space on Floors 1 through 7”. All other terms and conditions of Section 28. of the Lease shall remain in full force and effect.

          Section 2. Titles of Sections . The section titles used in this Amendment are for convenience of reference only, and shall not constitute a part of this Amendment nor shall they affect the meaning, construction or effect of this Amendment or the Lease.

          Section 3. Definitions . Unless otherwise set forth in this Amendment, all capitalized terms shall have the same meaning ascribed to them in the Lease.

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          Section 4. Interpretation . All other terms, covenants and conditions of the Lease shall remain unchanged and continue in full force and effect except as such terms, covenants and conditions have been amended or modified by this Amendment, and this Amendment shall, by this reference, constitute a part of the Lease.

          Section 5. Representations . Tenant hereby represents and warrants to Landlord that, as of the date hereof, it (i) is the sole legal and beneficial owner of all of the right, title and interest granted to it by the provisions of the Lease, (ii) has not sold, transferred or encumbered any or all of such right, title or interest, and (iii) has the full and sufficient right at law and in equity to execute and deliver this Amendment as the owner of such right, title, and interest, without the necessity of having any other person’s consent thereto or joinder therein.

          Section 6. Successors and Assigns . This Amendment and the terms, covenants and conditions herein contained shall inure to the benefit of and be binding upon Landlord and its successors and assigns, and Tenant and its permitted successors and assigns.

          IN WITNESS WHEREOF, Landlord and Tenant have caused this Amendment to be duly executed under seal on their behalf by their duly authorized representative, as of the date first above written.

 

 

 

 

WITNESS/ATTEST:

Landlord :

 

 

 

 

 

 

HILL MANAGEMENT SERVICES, INC.
agent for the owner

 

 

 

 

 

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