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EXHIBIT 10.27
SECOND AMENDMENT TO LEASE
This Second Amendment to Lease ("Second Amendment") is entered
into by and
between Midway Interwood Partners, L.P., a Texas limited
partnership
("Landlord") and Administaff Services, L.P., a Delaware limited
partnership
("Tenant"), as of the date hereinafter set forth.
WITNESSETH:
WHEREAS, Landlord and Tenant entered into that certain Lease
Agreement
executed as of January 20, 2000 (as amended, modified, restated
or supplemented,
the "Lease") concerning space leased in the building commonly
known as The
Offices at Interwood (the "Building"), and the land upon which
the Building is
located, all as more particularly described therein.
WHEREAS, unless otherwise defined herein, all capitalized terms
used in
this Second Amendment shall have the meaning thereto as defined
in the Lease;
and
WHEREAS, the parties hereto desire to amend the Lease to, among
other
things, extend the term of the lease and modify the rent
schedule.
NOW, THEREFORE, for and in consideration of the premises, Ten
Dollars
($10.00) in hand paid, and other good and valuable
consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties
hereto agree to
amend the Lease as follows:
1. Section 1.1(a) of the Lease is hereby deleted in its entirety
and the
following is substituted in place thereof:
"(a) Premises: (i) 40,000 net rentable square feet (37,301
net
usable square feet multiplied times a 1.07236
add-on factor), located on the first floor of the
Building as identified in Exhibit "A" (the "FIRST
FLOOR PREMISES" which is inclusive of 5,362 net
rentable square feet (5,000 net usable square feet
multiplied times a 1.07236 add-on factor, that was
previously referred to as the Daycare Premises);
and (ii) 11,978 net rentable square feet (10,685
net usable square feet multiplied times a 1.1210
add-on factor), located on the second floor of the
Building as identified in Exhibit "A" (the "SECOND
FLOOR PREMISES").
2. Section 1.1(f) of the Lease is hereby deleted in its entirety
and the
following is substituted in place thereof:
"(f) Term: Commencing on the September 25, 2000 and expiring
on September 30, 2014."
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3. Section 1.1(i) of the Lease is hereby deleted in its entirety
and the
following is substituted in place thereof:
"(i) Tenant's Share: The ratio that the total net rentable area
of the
Premises bears to the total net rentable area of
the Building."
4. Section 1.1(l) of the Lease is amended by adding the
following provision
as follows:
"The base rent up through and including September 30, 2004 shall
be the
Base Rent as provided for in the lease. Base rent per net
rentable square
foot for the remaining term of the Lease shall be as
follows:
1) Base rent per square foot per annum of net rentable
area of the First Floor Premises shall be as follows:
October 1, 2004 - September 30, 2009: $19.12
October 1, 2009 - September 30, 2014: $20.59
2) Base rent per square foot per a
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