LEASE
THIS LEASE (this “Lease” ) is made
this ______ day of February, 2007, by and between CROWN
GREEN ASSOCIATES, LLC , a Delaware limited liability company (
“Landlord” ), and FIRST INDIANA BANK,
N.A. , a national banking association (
“Tenant” ).
ARTICLE 1
LEASE OF PREMISES
Section 1.1
Lease of Premises . Landlord hereby leases to Tenant and
Tenant hereby leases from Landlord, subject to all of the terms and
conditions hereinafter set forth, office space in that certain
twenty-eight (28) floor office building (including six floors
of parking) which is commonly known as First Indiana Plaza located
at 135 North Pennsylvania Street in Indianapolis, Indiana, and
which is situated on the tract of land described in
Exhibit A-1 attached hereto (the
“Building” ) for the term hereinafter specified.
The space in the Building hereby leased to Tenant is set forth in
Item A of the Basic Lease Provisions and is designated
on Exhibit A-2 attached hereto (the
“Premises” ). Tenant shall also have the
non-exclusive use of the freight dock accessible from Wabash Street
with access to the freight elevator, with availability to all
floors of the Building.
Section 1.2
Basic Lease Provisions .
A. Premises: The entire office space located on the ninth (9
th ) floor and tenth (10 th ) floor of the
Building.
B. Rentable Area of Premises: 37,382 square feet in the
aggregate allocated as 18,691 square feet on the ninth (9
th ) floor and 18,691 square feet on the tenth (10
th ) floor.
C. Building Expense Percentage: 8.84%, based on dividing the
Rentable Area of the Premises set forth above (37,382) by 422,717,
being the rentable area of the Building.
D. Base Rent:
|
Period
|
Base Rent Per Square
Foot of Rentable Area
|
Annual Base
Rent
|
Monthly Base
Rent
|
|
Years 1 – 12
|
$19.00
|
$710,258.00
|
$59,188.17
|
E. Term: Twelve (12) years.
F. Target Commencement Date: July 15, 2007, subject to the
substantial completion of Tenant Improvements. Substantial
completion shall mean the completion of the Tenant Improvements
(including all movable walls and partitions) in a condition ready
for Tenant to operate its business in the Premises.
G. Security Deposit: Zero.
H. Broker(s): Mansur Real Estate Services, Inc. representing
Landlord and Newmark Southern Region, LLC representing Tenant.
I. Permitted Use: General office use and other purposes related
to banking activities.
J. Address for notices and payments as follows:
|
Landlord
|
|
c/o Crown Properties, Inc.
First Indiana Plaza
135 North Pennsylvania Street
Indianapolis, Indiana 46204
Attn: Ms. Julie Clements
|
|
With copies to:
|
|
Crown Properties, Inc.
400 Garden City Plaza, Suite 111
Garden City, New York 11530
|
|
And to:
|
|
Platte, Klarsfeld, Levine & Lachtman, LLP
10 East 40 th Street, 46 th Floor
New York, New York 10016
Attn: David R. Lachtman, Esq.
|
|
With Rental Payments to:
|
|
Crown Properties, Inc.
400 Garden City Plaza, Suite 111
Garden City, New York 11530
|
|
Tenant:
|
|
First Indiana Bank, N.A.
900 First Indiana Plaza
135 North Pennsylvania Street
Indianapolis, IN 46204
Attn: Mr. William Brunner
|
|
With copies to:
|
|
First Indiana Bank, N.A.
1300 Windhorst Way
Greenwood, IN 46143
Attn: Mr. Jack Thompson
|
K. Storage Space: During the Lease Term and subject to
availability, Landlord shall provide storage space in the Building
at the rate of $11.00 per square foot.
ARTICLE 2
TERM AND POSSESSION
Section 2.1
Term . The term of this Lease shall be the period of
time specified in Item E of the Basic Lease Provisions
( “Original Term” ) and shall commence on
(i) the Target Commencement Date as provided in
Item F of the Basic Lease Provisions (and as further
described in the Work Letter attached hereto as
Exhibit B ); or (ii) upon such earlier date
as Tenant commences operations in the Premises. Tenant’s
possession or use of the Premises under Section 2.2 shall not cause
the commencement of the Lease. The date of commencement as defined
above, hereinafter called the “Commencement
Date,” and the “ Expiration Date ”
shall be confirmed by Tenant as provided in Section 2.3. As
used in this Lease, “ Lease Term ” shall include
the Original Term and any renewal thereof.
Section 2.2
Construction of Tenant Finish Improvements and Possession
. Except to the extent otherwise specifically provided in this
Lease, Landlord is leasing the Premises “as is” without
representation or warranty. Notwithstanding the foregoing, Landlord
shall, at its sole cost and expense, refurbish the restrooms
servicing the Premises (collectively “Landlord’s
Work” ), and shall cause Landlord’s Work to be
completed in a good and workmanlike manner, using Building-standard
materials and finishes. Tenant acknowledges that as of the date
hereof, Landlord has substantially completed a portion of
Landlord’s Work associated with the improvements to the
restrooms on the ninth (9 th ) floor, and that the
improvements to the restrooms on the tenth (10 th )
floor shall be substantially similar to the ninth (9 th
) floor with regard to materials and finishes.
Landlord shall provide Tenant with a “Space Planning
Allowance” in an amount equal to Seventeen Cents ($0.17)
multiplied by the square footage leased to Tenant hereunder.
Landlord shall pay such Space Planning Allowance to Tenant within
thirty (30) days of receipt of Tenant’s invoice for such
space planning. Landlord shall also provide Tenant with a
“Tenant Improvement Allowance” equal to Twenty-Five
Dollars ($25.00) multiplied by the square footage leased to Tenant
hereunder. The Tenant Improvement Allowance may be used by Tenant
to pay for the Tenant Improvements (as hereinafter defined).
Landlord shall pay the Tenant Improvement Allowance to Tenant upon
receipt from Tenant of an invoice from Tenant showing that such
expenses have been incurred and paid along with a waiver of lien
for the funds to be disbursed under each respective invoice from
each contractor participating in the Tenant Improvements. If the
cost of completing Tenant’s Improvements is less than the
Tenant Improvement Allowance and the Space Planning Allowance,
Landlord shall at its option pay the difference in a lump sum to
Tenant within thirty (30) days after Landlord receives
Tenant’s first rent payment under the Lease, or provide
Tenant with a credit toward the next installment(s) of Monthly Base
Rent.
Tenant shall undertake completion of Tenant’s work (the
“Tenant Improvements” ) in accordance with the
Work Letter at Tenant’s cost and expense by a contractor
reasonably acceptable to Landlord, in accordance with the plans and
specifications described therein. Tenant’s architect shall
prepare all architectural plans and construction documents required
for the construction of the Tenant Improvements. Landlord shall
assume the responsibility for the
preparation of all site, structural, mechanical, electrical and
plumbing drawings for the base building and common areas, and
Landlord shall pay for test fit studies. The cost of all design and
engineering fees specific to the Tenant Improvements shall be paid
by Tenant but the Tenant Improvement Allowance and Space Planning
Allowance may be used for such costs. Landlord, at Landlord’s
expense, shall renovate the restrooms in the Premises in accordance
with the renovation plan described in the Work Letter. Landlord
shall coordinate Landlord’s Work with Tenant construction of
the Tenants Improvements pursuant to the schedule set forth in the
Work Letter. Tenant shall have access to the Premises commencing on
the execution of this Lease for purposes of constructing the
Tenant’s Improvements.
Section 2.3
Tenant’s Acceptance of the Premises . Upon
completion of Landlord’s Work and the Tenant Improvements,
(a) Landlord and Tenant shall execute a “punch list”
identifying such portions of the Landlord’s Work required
under the Work Letter which remain uncompleted, and (b) Tenant
shall execute a letter of understanding acknowledging (i) the
Commencement Date and Expiration Date of this Lease, and
(ii) that Tenant has accepted the Premises for occupancy and
the condition of the Premises, including the tenant finish
improvements constructed therein (other than the items identified
for the punch list), was at that time satisfactory and in
conformity with the provisions of this Lease in all respects.
Landlord shall within thirty (30) day thereafter correct all such
punch list items. If Tenant takes possession of and occupies the
Premises and begins conducting its business operations therein,
Tenant shall be deemed to have accepted the Premises in the manner
described in this Section 2.3, even though the punch list and
the letter of understanding provided for herein may not have been
executed by Tenant.
Section 2.4
Surrender of the Premises . Upon the expiration or
earlier termination of this Lease, or upon the exercise by Landlord
of its right to re-enter the Premises without terminating this
Lease, Tenant shall immediately surrender the Premises to Landlord,
together with all alterations, improvements and other property as
provided elsewhere herein, in broom-clean condition and in good
order, condition and repair, except for ordinary wear and tear and
damage which Tenant is not obligated to repair, failing which
Landlord may restore the Premises to such condition at
Tenant’s expense. Upon such expiration or termination, Tenant
shall have the right to remove its personal property (as described
in Article 7). Any property remaining in the Premises after
the expiration or termination of this Lease shall be deemed
abandoned and Landlord shall have the right to remove and dispose
of such property at Tenant’s sole cost and expense. Tenant
shall, at its expense, promptly repair any damage caused by any
such removal, and shall restore the Premises to the condition
existing prior to the installation of the items so removed.
Section 2.5
Holding Over . If Tenant, without the prior written
consent of the Landlord, holds over and remains in possession of
the Premises or any part thereof after the expiration or earlier
termination of this Lease or Tenant’s right to possession
hereunder, Tenant shall be deemed to hold the Premises as a month
to month tenant, subject to all of the terms, conditions and
covenants of this Lease (which shall be applicable during the
holdover period), except that the monthly Base Rent payable during
such holdover period shall be an amount equal to 150% of the
monthly installments of Base Rent payable at the time of such
expiration or
earlier termination. Notwithstanding the foregoing provision, no
holding over by Tenant shall operate to extend this Lease, and in
the event Tenant holds over in the Premises for a period in excess
of sixty (60) days following the Expiration Date, Tenant shall be
liable for all damages to Landlord, both direct and consequential,
attributable to such holding over. The provisions of this paragraph
do not waive Landlord’s right of re-entry or right to regain
possession by actions at law or in equity or by any other rights
hereunder.
ARTICLE 3
RENT
Section 3.1
Base Rent . Tenant shall pay to Landlord as Base Rent
for the Premises the amounts specified in Item D of the
Basic Lease Provisions, which Base Rent shall be payable in monthly
installments as specified, in advance, without deduction or offset,
on or before the first day of each and every calendar month during
the Lease Term; provided, however, that if the Commencement Date
shall be a day other than the first day of a calendar month or the
Expiration Date shall be a day other than the last day of a
calendar month, the Base Rent for such first or last fractional
month shall be prorated on the basis of the number of days during
the month this Lease was in effect in relation to the total number
of days in such month.
Section 3.2
Annual Rental Adjustment .
A.
Definitions . For purposes of this Section 3.2,
the following definitions shall apply:
1.
“ Annual Rental Adjustment ” shall mean
an amount for each calendar year subsequent to the Base Year equal
to Tenant’s Building Expense Percentage multiplied by the
difference between (a) the amount of Operating Expenses for
such calendar year and (b) the amount of Operating Expenses
for the Base Year. In no event shall the Annual Rental Adjustment
for any year during the term hereof be less than zero.
2.
“ Operating Expenses
” shall mean the amount of all of Landlord’s direct
costs and expenses paid or incurred in owning, managing, operating
and maintaining the Building (including without limitation the
Common Areas as defined in Section 19.3, and the land
described in Exhibit A-1 , but excluding the
expenses associated with the operation of the parking garage) for a
particular calendar year as determined by Landlord in accordance
with generally accepted accounting principles, consistently
applied, including all additional direct costs and expenses of
ownership, management, operation and maintenance of the Building
which Landlord reasonably determines that it would have paid or
incurred during such year if the Building had been fully occupied,
including by way of illustration and not limitation: all general
real estate taxes and all special assessments levied against the
Building (hereinafter called “real estate taxes”
), other than penalties for late payment; costs and expenses of
contesting the validity or amount of real estate taxes, including,
without limitation, reasonable attorneys’
fees; insurance premiums, water, sewer, electrical and other
utility charges other than the separately billed electrical and
other charges paid by Tenant as provided in this Lease or similarly
paid by any other tenant or any other party; service and other
charges incurred in the operation and maintenance of the elevators
and the heating, ventilation and air-conditioning system; cleaning
and other janitorial services; tools and supplies; repair costs;
landscape maintenance costs; security services; license, permit and
inspection fees; management fees (excluding leasing fees or
commissions); wages and related employee benefits payable for the
maintenance and operation of the Building; amortization over such
period as Landlord shall reasonably determine of capital
improvements made to the Building that reduce operating costs
together with interest at the rate of twelve percent (12%) per
annum on the unamortized balance thereof; and in general all other
costs and expenses which would, under generally accepted accounting
principles, be regarded as operating and maintenance costs and
expenses, including those which would normally be amortized over a
period not to exceed five (5) years, but excluding any
allowances for depreciation or credits or payments for interest or
amortization of any debt. If Landlord is required by the first
mortgagee of the Building to establish a reserve fund for
replacement of any portion or element of the Building or the
maintenance thereof the cost of which maintenance or replacement
would have been treated as an Operating Expense under the foregoing
portion of this definition, reasonable deposits made to such
reserve account shall be treated as an Operating Expense but
expenditures from the reserve account may be made only for the
purpose of which it was established and such expenditures shall not
be treated as an Operating Expense when made. There shall also be
included in Operating Expenses the cost or portion thereof
reasonably allocable to the Building, amortized over such period as
Landlord shall reasonably determine, together with interest at the
rate of twelve percent (12%) per annum on the unamortized balance,
of any capital improvements made to the Building by Landlord after
the date of this Lease which are required under any governmental
law or regulation that was not applicable to the Building at the
time it was constructed. In the event that any service or supply,
the cost of which is to be treated as an Operating Expense, is
procured from any party or entity that is in any manner related to
the Landlord, such portion or the cost thereof as is reasonable and
ordinary for such service or supply in the Indianapolis market in
transaction between unrelated parties shall be included in
Operating Expenses.
3.
“ Building Expense Percentage ” shall
mean the percentage specified in Item C of the Basic Lease
Provisions.
4.
“ Base Year ” shall mean calendar year
2007.
B.
Payment Obligation . In addition to the Base Rent
specified in this Lease, Tenant shall pay to Landlord as additional
rent for the Premises, in each calendar year or partial calendar
year, during the term of this Lease, an amount equal to the Annual
Rental Adjustment for such calendar year.
1.
Payment of Estimated Annual Rental Adjustment . The
Annual Rental Adjustment shall be estimated annually by Landlord,
and written notice thereof shall be given to Tenant at least thirty
(30) days prior to the beginning of each calendar year. Tenant
shall pay to Landlord each month, at the same time the Base Rent is
due, an amount equal to one-twelfth (1/12) of the estimated Annual
Rental Adjustment.
2.
Increases in Estimated Annual Rental Adjustment . If
Landlord’s estimate of Operating Expenses increases during a
calendar year, Landlord may increase the estimated Annual Rental
Adjustment during such year by giving Tenant written notice to that
effect, and thereafter Tenant shall pay to Landlord, in each of the
remaining months of such year, an amount equal to the amount of
such increase in the estimated Annual Rental Adjustment divided by
the number of months remaining in such year.
3.
Adjustment to Actual Annual Rental Adjustment .
Within one hundred twenty (120) days of the end of each calendar
year, Landlord shall prepare and deliver to Tenant a statement
showing the actual Annual Rental Adjustment for such calendar year.
Within thirty (30) days after receipt of the aforementioned
statement, Tenant shall pay to Landlord, or Landlord shall credit
against the next rent payment or payments due from Tenant, as the
case may be, the difference between the actual Annual Rental
Adjustment for such calendar year and the estimated amount paid by
Tenant during such year. If this Lease shall commence, expire or be
terminated on any date other than the last day of a calendar year,
then the Annual Rental Adjustment for such partial calendar year
shall be prorated on the basis of the number of days during the
year this Lease was in effect in relation to the total number of
days in such year. The obligations of Landlord and Tenant under
this Section 3.2B.3 shall survive the expiration or sooner
termination of this Lease.
4.
Tenant Verification . Tenant or its accountants shall
have the right to inspect, at reasonable times and in a reasonable
manner at Landlord’s management office located at the
Building, during the ninety (90) day period following the delivery
of Landlord’s statement of the actual amount of the Annual
Rental Adjustment, such of Landlord’s books of account and
records as pertain to and contain information concerning such costs
and expenses in order to verify the amounts thereof. Tenant agrees
that any information obtained during its inspection of
Landlord’s books of account and records and any audit of such
records delivered by Landlord to Tenant shall be kept in strict
confidence by Tenant and its agents and employees and shall not be
disclosed to any other parties except as required by law. Unless
Tenant shall take written exception of any item and any such
statement within such ninety (90) day period, such statement shall
considered final and accepted by Tenant.
5.
Cap On Expenses . Commencing with the calendar year
2009, Landlord agrees that in calculating Tenant’s
Proportionate Share of Operating Expenses pursuant to this Section
3.02, Operating Expenses shall not include Controllable Operating
Expenses (as hereinafter defined) applicable to the Leased Premises
which exceed four percent (4%) per calendar year over the
Controllable Operating Expenses calculated on a cumulative basis
per calendar year over the term of this Lease (
“Controllable Expense Cap” ). For example,
assuming Controllable Operating Expenses of $100 for the calendar
year 2009, the total of such expenses would be capped at $104 for
the calendar year 2010 and $108.16 for the calendar year 2011, and
so on. “Controllable Operating Expenses”
mean all Operating Expenses within Landlord’s reasonable and
direct control, either due to contracts with the providers of
services or items for the Building which permit such control by
Landlord, or due to such contracts which are cancelable by Landlord
without cause on not more than thirty (30) days’ notice and
replaceable with contracts from other equally capable providers of
substantially the same services or items for the Building, but
specifically excluding real estate taxes, utility expenses and
insurance premiums. If the term of this Lease expires on a
date other than December 31 of a calendar year, the last calendar
year will be prorated on a per diem basis and the calculation of
the Controllable Expense Cap adjusted appropriately. This
Section shall survive the expiration or termination of the
Lease.
Section 3.3
Late Charges . In the event Tenant fails to pay
within ten (10) days after the same is due and payable any
installment of Base Rent or any other sum or charge required to be
paid by Tenant to Landlord under this Lease, such unpaid amount
shall bear interest from the due date thereof to the date of
payment at the annual rate of three (3) percentage points above the
rate then most recently announced by Citibank, N.A., or its
successor, as its corporate base lending rate, as such corporate
base lending rate may change from time to time during the term of
this Lease, or the highest rate permitted under applicable law,
whichever is less, until paid. The payment of such interest shall
not excuse or cure any default of Tenant under this Lease.
Section 3.4
Additional Rent . All sums due from Tenant to
Landlord hereunder, whether denominated as Base Rent, Annual
Adjustment Rental, or otherwise, shall be deemed “rent”
under this Lease. The payment of rent hereunder is independent of
each and every covenant and agreement contained in this Lease, and
rent shall be paid without set-off, abatement, counterclaim or
deduction whatsoever.
ARTICLE 4
SECURITY DEPOSIT
The parties acknowledge that Landlord is not requiring Tenant to
deliver a security deposit upon execution of this Lease.
Notwithstanding the foregoing, if Tenant fails to pay Base Rent
and/or Additional Rent within the time frames prescribed above on
more than two (2) occasions in any twelve (12) month period,
Landlord hereby reserves its rights to require Tenant
to deliver a security deposit to Landlord in an amount not to
exceed one (1) month of Base Rent.
Such sum shall be held by Landlord as a security deposit during
the term of this Lease. If Tenant performs and observes all of the
terms, conditions and covenants of this Lease which are required to
be performed and observed by it, Landlord shall return the security
deposit, or balance thereof then held by Landlord, without
interest, to Tenant within sixty (60) days after the expiration of
this Lease or after Tenant surrenders possession of the Premises,
whichever is later. In the event of a default by Tenant in the
payment of rent or the performance or observance of any of the
other terms, conditions, or covenants of this Lease, then Landlord
may, at its option and without notice, apply all or any part of the
security deposit in payment of such rent or to cure any other such
default; and if Landlord does so, Tenant shall, within five
(5) days after Landlord’s demand therefor, deposit with
Landlord the amount so applied so that Landlord will have on hand
at all times during the term of this Lease the full amount of the
security deposit. Landlord shall not be required to hold the
security deposit as a separate account, but may commingle it with
Landlord’s other funds.
In the event of a sale of the Building, Landlord shall have the
right to transfer the security deposit to its purchaser, and
Landlord shall thereupon be released by Tenant from all
responsibility for the return of such deposit; and Tenant agrees to
look solely to the new purchaser for the return of such deposit. In
the event of an assignment of this Lease by Tenant, the security
deposit shall be deemed to be held by Landlord as a deposit made by
the assignee, and Landlord shall have no further responsibility for
the return of such deposit to the assignor.
ARTICLE 5
OCCUPANCY AND USE
Section 5.1
Occupancy . Tenant shall use and occupy the Premises for
the purposes set forth in Item I of the Basic Lease
Provisions and shall not use the Premises for any other purpose
whatsoever without the written consent of Landlord.
Section 5.2
Covenants of Tenant Regarding Use . In connection with
its use of the Premises, Tenant agrees to do the following:
A.
Tenant shall (i) use and maintain the Premises and conduct its
business thereon in a safe, careful, reputable and lawful manner,
(ii) comply with all laws, rules, regulations, orders,
ordinances, directions and requirements of any governmental
authority or agency, now in force or which may hereafter be in
force, including without limitation those which shall impose upon
Landlord or Tenant any duty with respect to or triggered by a
change in the use or occupation of, or any improvement or
alteration to, the Premises, (iii) comply with and obey all
reasonable directions of the Landlord, including the
Building’s Rules and Regulations attached hereto as
Exhibit C and as may be modified from time to
time by Landlord on reasonable notice to Tenant, and
(iv) shall not do or permit anything to be done in or about
the Premises which will in any way obstruct or interfere with the
rights of other tenants or occupants of the Building or injure
or
annoy them. Landlord shall not be responsible to Tenant for the
non-performance by any other tenant or occupant of the Building of
any of the Building Rules and Regulations but agrees to take
reasonable measures to ensure all other tenant’s compliance.
Any modification of the Building Rules and Regulations shall be
equally applicable to all tenants in the Building and shall not
impose any additional obligations on Tenant or materially restrict
Tenant’s use of the Premises. If any Building Rule or
Regulation is inconsistent with any express provision of this
Lease, the express provision of this Lease shall control.
B.
Tenant shall not overload the floors of the Premises beyond their
designed weight-bearing capacity, which Landlord has determined to
be eighty (80) pounds per square foot live load, including an
allowance for partition load, except for a portion of the floor
space which will require greater load capacity, as specifically
provided in Tenant’s Plans. Landlord reserves the right to
direct the positioning of all heavy equipment, furniture and
fixtures which Tenant desires to place in the Premises so as to
distribute properly the weight thereof, and to require the removal
of any equipment or furniture which exceeds the weight limit
specified herein.
C.
Tenant shall not use the Premises, or allow the Premises to be
used, for any purpose or in any manner which would, in
Landlord’s reasonable opinion, invalidate any policy of
insurance now or hereafter carried on the Building or increase the
rate of premiums payable on any such insurance policy. Should
Tenant fail to comply with this covenant, Landlord may, at its
option, require Tenant to stop engaging in such activity or to
reimburse Landlord as additional rent for any increase in premiums
charged on the insurance carried by Landlord on the Premises and
attributable to the use being made of the Premises by Tenant.
D.
Except as provided in Section 19.26, Tenant shall not inscribe,
paint, affix or display any signs, advertisements or notices on the
Building, except for such tenant identification information as
Landlord permits to be included or shown on the directory board in
the main lobby and on or adjacent to the access door or doors to
the Premises. The parties acknowledge that Tenant has and shall
continue to have signage rights on the top of the Building as
provided in Section 19.26.
Section 5.3
Landlord’s Rights Regarding Use . In addition to
the rights specified elsewhere in this Lease, Landlord shall have
the following rights regarding the use of the Premises or the
Common Areas by Tenant, its employees, agents, customers and
invitees, each of which may be exercised without notice or
liability to Tenant:
A.
Landlord may install such tenant identification information on the
directory board as it shall deem necessary or proper.
B.
Landlord shall approve or disapprove, prior to installation, all
types of drapes, shades and other window coverings used in the
Premises, and may control all internal lighting that may be visible
from outside the Premises.
C.
Except as provided in Section 19.26, Landlord shall approve or
disapprove all sign painting and lettering used in the Premises and
the Building.
D.
Landlord may grant to any person the exclusive right to conduct any
business or render any service in the Building, provided that such
exclusive right shall not operate to limit Tenant from using the
Premises for the use permitted in Item I of the Basic Lease
Provisions; and provided further that, so long as this Lease is in
effect, Landlord shall not allow anyone other than Tenant to
operate a retail bank or place an automatic teller machine in the
Building as provided in Sections 19.27 and 19.28.
E.
Landlord may control the Common Areas in such manner as it deems
necessary or proper, including without limitation, requiring all
persons entering or leaving the Building to identify themselves and
their business in the Building to a security guard; excluding or
expelling any peddler, solicitor or loud or unruly person from the
Building; and closing or limiting access to the Building or any
part thereof, including entrances, corridors, doors and elevators,
during times of emergency, repairs or after regular business hours.
Notwithstanding the foregoing, except in the event of an emergency,
the Premises shall be available to Tenant, its employees and normal
bank messenger services at all times.
Section 5.4
Access to and Inspection of the Premises . Landlord, its
employees and agents and any mortgagee of the Building shall have
the right to enter any part of the Premises at reasonable times for
the purposes of examining or inspecting the same, showing the same
to prospective purchasers, mortgagees or tenants and making such
repairs, alterations or improvements to the Premises or the
Building as Landlord may deem necessary or desirable. If
representatives of Tenant shall not be present to open and permit
such entry into the Premises at any time when such entry is
necessary or permitted hereunder, Landlord and its employees and
agents may enter the Premises by means of a master or pass key or
otherwise. Notwithstanding the foregoing, access to Tenant’s
computer and permanent record rooms shall be available only on
advance notice to Tenant and at such times and under such
conditions as Tenant reasonably may establish. Landlord shall not
be given a master or pass key to such areas. Landlord shall incur
no liability to Tenant for such entry, nor shall such entry
constitute an eviction of Tenant or a termination of this Lease, or
entitle Tenant to any abatement of rent therefore. The rights of
access provided in this Section 5.4 shall be exercised in a manner
that will make the minimum interference with Tenant’s use and
occupancy of the Premises consistent with the need for the exercise
of such rights. All rights under this Section 5.4 are subject to
the security regulations necessitated by Tenant’s business
and by applicable federal and/or state regulations.
ARTICLE 6
UTILITIES AND OTHER BUILDING SERVICES
Section 6.1
Services to be Provided . Landlord shall furnish to
Tenant, except as noted below, the following utilities and other
building services to the extent reasonably necessary for
Tenant’s comfortable use and occupancy of the Premises for
general office use or
as may be required by law or directed by governmental authority
and in a manner consistent with other similar Class A office
buildings in the downtown Indianapolis area:
A.
Heating, ventilation and air-conditioning between the hours of
8:00 a.m. and 6:00 p.m. Monday through Friday and
9:00 a.m. to 1:00 p.m. on Saturday of each week except on
legal holidays. Landlord shall also furnish heat and air
conditioning at such other times as are not provided for above on
not less than twenty-four (24) hours notice of Tenant’s
need for such additional heating or air conditioning, provided
Tenant pays to Landlord its regular charges for such additional
heating and air conditioning. Such charges shall be deemed
additional rent under this Lease.
B.
Subject to interruptions beyond Landlord’s control,
electrical current not to exceed four (4) watts per square
foot. At all times Tenant’s use of electric current shall
never exceed the capacity of the feeders to the Building or the
risers or wiring installation;
C.
Water in the Common Areas for lavatory and drinking purposes and
water for lavatories, restrooms and shower facilities shown on
Tenant’s Plans;
D.
Automatic elevator service;
E.
Cleaning and janitorial service for the Premises and Common Areas,
including the supplying and installing of paper towels, toilet
tissue and soap in the Common Areas on Monday through Friday of
each week except legal holidays; provided, however, Tenant shall be
responsible for carpet cleaning other than routine vacuuming;
F.
Washing of windows at intervals reasonably established by Landlord,
not less frequently than one (1) time each year for the interior
windows and two (2) times each year for exterior windows;
G.
Replacement of all lamps, bulbs, starters and ballasts in Building
standard lighting as required from time to time as a result of
normal usage;
H.
Cleaning and maintenance of the Common Areas, including the removal
of rubbish and snow; and
I.
Repair and maintenance to the extent specified elsewhere in this
Lease.
Section 6.2
Additional Services . If Tenant requests any other
utilities or building services in addition to those identified
above or any of the above utilities or building services in
frequency, scope, quality or quantity substantially greater than
those which Landlord reasonably determines are normally required by
other tenants in the Building for general office use (i.e.
electrical service and condenser water unless same are separately
submetered for Tenant as set forth herein), then Landlord shall use
reasonable efforts to attempt to furnish Tenant with such
additional utilities or building services. In the event Landlord is
able to and does furnish
such additional utilities or building services, the costs
thereof shall be borne by Tenant, who shall reimburse Landlord
monthly for the same as additional rent at the same time monthly
installments of Base Rent and other additional rent is due.
If any lights, machines or equipment (including but not limited
to computers) used by Tenant in the Premises materially affect the
temperature otherwise maintained by the Building’s
air-conditioning system or generate substantially more heat in the
Premises than that which would normally be generated by the lights
and business machines typically used by other tenants in the
Building or by tenants in comparable office buildings, then
Landlord shall have the right to install any machinery or equipment
which Landlord considers reasonably necessary in order to restore
the temperature balance between the Premises and the rest of the
Building, including equipment which modifies the Building’s
air-conditioning system. All costs expended by Landlord to install
any such machinery and equipment and any additional costs of
operation and maintenance occasioned thereby shall be borne by
Tenant, who shall reimburse Landlord for the same as provided in
this Section 6.2.
Tenant shall not install or connect any electrical equipment
other than the business machines, computers and other equipment
typically used for general office purposes by tenants in office
buildings comparable to the Building without Landlord’s prior
written consent. If Landlord reasonably determines that the
electricity used by the equipment to be so installed or connected
exceeds the designed load capacity of the Building’s
electrical system or is in any way incompatible therewith, then
Landlord shall have the right, as a condition to granting its
consent, to make such modifications to the electrical system or
other parts of the Building or Premises, or to require Tenant to
make such modifications to the equipment to be installed or
connected, as Landlord considers to be reasonably necessary before
such equipment may be so installed or connected. The cost of any
such modifications shall be borne by Tenant, who shall reimburse
Landlord for the same (or any portion thereof paid by Landlord) as
provided in this Section 6.2. Tenant’s computer area
will be separately sub-metered as further described in the previous
paragraph.
Section 6.3
Interruption of Services . Tenant understands,
acknowledges and agrees that any one or more of the utilities or
other building services identified in Section 6.1 may be
interrupted by reason of accident, emergency or other causes beyond
Landlord’s control, or may be discontinued or diminished
temporarily by Landlord or other persons until certain repairs,
alterations or improvements can be made; that Landlord does not
represent or warrant the uninterrupted availability of such
utilities or building services, and that any such temporary
interruption that is beyond Landlord’s control shall not be
deemed an eviction or disturbance of Tenant’s right to
possession, occupancy and use of the Premises or any part thereof,
or render Landlord liable to Tenant for damages by abatement of
rent or otherwise, or relieve Tenant from the obligation to perform
its covenants under this Lease. Landlord shall give Tenant
reasonable notice of Landlord’s intention of performing any
repairs, alterations or improvements that will or might result in
an interruption or diminishment of services and shall exert all
reasonable efforts to limit the length of any such interruption.
Landlord shall use special care to avoid interruption of electrical
service to Tenant’s computers and other data processing
equipment unless absolutely necessary.
ARTICLE 7
REPAIRS, MAINTENANCE, ALTERATIONS, IMPROVEMENTS AND
FIXTURES
Section 7.1
Repair and Maintenance of Building . Subject to
Section 7.2 and except for any repairs made necessary by the
negligence, misuse, or default of Tenant, its employees, agents,
customers and invitees, Landlord shall make all necessary repairs
to the exterior walls, exterior doors, windows, corridors and other
Common Areas, and Landlord shall keep the Building in a safe, clean
and neat condition and shall keep all equipment used in common with
other tenants, such as elevators, plumbing, heating, air
conditioning and similar equipment, in good condition and repair
consistent with Class A office space in the downtown Indianapolis
market. Except as provided in Article 8 and Article 10
hereof, there shall be no abatement of rent and no liability of
Landlord by reason of any injury to or interference with
Tenant’s business arising from the making of any repairs,
alterations or improvements in or to any portion of the Building or
the Premises or in or to any fixtures, appurtenances and equipment
therein or thereon.
Section 7.2
Repair and Maintenance of Premises . Tenant
shall, at its sole cost and expense, keep and maintain the
Premises, exclusive of the restrooms and the heating and
air-conditioning equipment servicing the Premises and any other
repair or maintenance which is the obligation of Landlord under
this Lease, in good order, condition and repair, subject to
ordinary wear and tear and damage which Tenant is not obligated to
repair as provided elsewhere in this Lease. Tenant shall, at its
sole cost and expense, keep and maintain, to the extent installed,
any supplemental air-conditioning unit for the server room located
in the Premises in good order, condition and repair.
Section 7.3
Alterations or Improvements .
Except as shown on Tenant’s Plans, Tenant shall not make or
permit alterations of or upon any part of the Premises or additions
to the Premises (collectively, “Alterations” )
without first obtaining the written consent of Landlord. Tenant
shall at its sole expense and cost, ensure that all Alterations
shall be made in accordance with all applicable laws, rules, codes,
ordinances and regulations in a good and workmanlike manner and in
quality equal to or better than the original construction of the
Premises or Building, and Tenant shall comply with such
requirements as Landlord considers necessary or desirable. Before
commencement of any Alterations or delivery of any materials unto
the Premises or the Building, Tenant shall furnish to Landlord, for
its prior written approval, plans and specifications certified by a
licensed architect or engineer approved by Landlord, which approval
shall not be unreasonably withheld, and such other documentation as
Landlord shall reasonably request in connection with the
Alterations. Landlord’s consent to any such Alterations shall
create no responsibility or liability on the part of Landlord for
the completeness, design, sufficiency, or compliance with laws,
rules, codes, ordinances, or regulations of such Alterations or the
plans, specifications or working drawings therefore. Tenant shall
promptly pay all costs attributable to such Alterations (including,
without limitation, Landlord’s reasonable costs of reviewing
plans and materials submitted to Landlord for approval, which shall
not exceed $750.00) and shall promptly repair any damage to the
Premises, Building or Common Areas caused by or resulting from such
Alterations. Any such Alterations shall remain for the benefit of
Landlord, provided, however, that Landlord may elect upon thirty
(30) days’
prior written notice to Tenant to require that Tenant, at its
expense, remove at the expiration or earlier termination of this
Lease all or a portion of the Alterations made by Tenant and repair
any damage caused by such removal. Tenant’s obligations under
this Section shall survive the expiration or earlier
termination of this Lease.
If Landlord permits Tenant to perform any Alterations, then in
addition to the requirements set forth above in this
Section 7.3, the following shall apply: (i) prior to the
commencement of the Alterations or the delivery of any materials to
the Building, Tenant shall submit to Landlord, for Landlord’s
approval, copies of the contracts, names, and addresses of all
contractors, necessary permits and licenses, certificates of
insurance (including, without limitation, Workmen’s
Compensation and comprehensive general liability) and instruments
of indemnification and waivers of lien against any and all claims,
costs, expenses, damages and liabilities which may arise in
connection with the Alterations, all in such form and amount as
shall be reasonably satisfactory to Landlord; (ii) all such
Alterations shall be done only by contractors or mechanics approved
by Landlord (which approval shall not be unreasonably withheld) and
at such time and in such manner as Landlord may from time to time
reasonably designate; (iii) upon completion of any
Alterations, Tenant shall furnish Landlord with contractors’
affidavits, full and final waivers of lien, receipted bills
covering all labor and materials expended and used in connection
with such Alterations; and (iv) all such Alterations shall
comply with all insurance requirements and all laws, ordinances,
rules and regulations of all governmental authorities, and shall be
done in a good and workmanlike manner and with the use of good
grades of materials.
Tenant shall indemnify and save harmless Landlord from all
costs, loss or expense in connection with Alterations. No person
shall be entitled to any lien directly or indirectly derived
through or under Tenant or through or by virtue of any act or
omission of Tenant upon the Premises for any improvements or
fixtures made thereon or installed therein or for or on account of
any labor or material furnished to the Premises or for or on
account of any matter or thing whatsoever; and nothing in this
Lease contained shall be construed to constit