THIS LEASE
AGREEMENT (this “Lease”) is made and entered into the
18th day of December, 2006, by and between BEACON INVESTMENT
CORPORATION, a North Carolina corporation (
“Landlord”) , and CCBCC OPERATIONS, LLC, a
Delaware limited liability company ( “Tenant”)
;
THAT for and in
consideration of the mutual agreements of the parties, including
the rental agreed to be paid by Tenant to Landlord, Landlord hereby
leases to Tenant, and Tenant leases and rents from Landlord the
following described premises on the terms and conditions
hereinafter set forth, to wit:
Section 1.
Commencement, Termination and Base Rent .
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4100 Coca-Cola
Plaza
4115 Coca-Cola Plaza
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See
Exhibit B attached hereto.
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Rentable Area
of Buildings:
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4100 Coca-Cola
Plaza: 110,535 square feet
4115 Coca-Cola Plaza: 65,000 square feet
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Rentable Area
of Premises:
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See
Exhibit B attached hereto.
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January 1,
2007
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December 31, 2021
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$4,036,200.00
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$1,009,050.00
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*Annual Base Rent
and Quarterly Base Rent are collectively referred to herein as
“Base Rent”
Operating Cost
Expense Stop:
Six and
19/100 Dollars ($6.19) multiplied by the total Rentable Area of
Buildings
Section 2.
Address of Landlord and Tenant; Notices .
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Beacon
Investment Corporation
Attn: J. Frank Harrison, III
4100 Coca-Cola Plaza
Charlotte, NC 28211
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CCBCC
Operations, LLC
Attn: Chief Financial Officer
4100 Coca-Cola Plaza
Charlotte, NC 28211
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All sums of money
to be paid to Tenant by Landlord and all written notices by
Landlord to Tenant shall be delivered to the address for Tenant set
forth above.
All sums of money
to be paid to Landlord by Tenant and all written notices by Tenant
to Landlord shall be delivered to the addresses of Landlord set
forth above.
All notices
required or permitted under this Lease shall be in writing, signed
by the party giving such notice and transmitted by certified mail,
postage prepaid, and shall be deemed given when deposited in an
official depository of the United States Mail. Either party may
change the address to which money is due or notices shall be sent
by giving the other party written notice of such change of
address.
Tenant hereby
appoints as its agent for service of process in all dispossessory,
distraint and summary ejectment proceedings which may be brought
against it by Landlord, any person occupying the Premises, provided
that if no person is occupying the Premises, then Tenant agrees
that such service may be made by attachment thereof to the main
entrance to the Premises; provided, Landlord additionally delivers
a copy of such service of process to the Tenant at the address set
forth above.
Section 1.
Description of Premises . The Premises this day leased and
demised (the “Premises” ) are to be located
within the Buildings identified in Article I (the
“Buildings” ; each a
“Building” ) which are located on the real
property described in Exhibit A attached hereto and
incorporated herein by reference (said land and the Buildings and
the improvements thereon,
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collectively,
the “Property” ). The Premises are shown as
outlined on the floor plans of the Buildings attached hereto as
Exhibit B and incorporated herein by reference. In
addition, Landlord shall make available to Tenant an area of space
located on the first floor entrance area of each Building suitable
for placement of a receptionist for Tenant, and Tenant shall be
entitled to place a sign identifying Tenant’s corporate name
and products in each such receptionist’s area.
Section 2.
Tenant’s Acceptance of Property . Tenant shall accept
the Premises in “as is” condition and Landlord shall
have no obligation to upfit the same. Except as expressly set forth
herein, neither Landlord nor its agents have made any
representations with respect to the Premises, the Buildings or the
Property and no rights, easements or licenses are acquired by
Tenant by implication or otherwise. The taking of possession of the
Premises by Tenant shall be conclusive that the Premises and the
Buildings were in satisfactory condition at the time possession was
taken. In the event that someone other than Landlord constructs any
improvements to the Premises, then those improvements must be
constructed using, at least, finishes which are standard to the
Buildings and according to plans and specifications approved by
Landlord in advance, and Tenant will furnish Landlord with a
complete set of as-built plans and specifications within sixty
(60) days of the completion of these improvements. In all
cases, Tenant’s mechanical and electrical work, and any
penetration of floors, must be performed by Landlord’s
contractors and subcontractors at Tenant’s
expense.
Section 3.
Common Areas . Tenant and its employees, agents, invitees
and licensees are granted the right, in common with others and
subject to the exclusive control and management thereof at all
times by Landlord, to the non-exclusive use of such of the areas on
the Property as are from time to time designated as common areas by
Landlord (the “ Common Areas ”). The Common
Areas shall include the facilities in the Buildings which are
designated for the general use, in common, of the occupants of the
Buildings and, to the extent the same are provided, the parking
areas, sidewalks, roadways, loading platforms, restrooms, ramps,
maintenance and mechanical areas, lobbies, corridors, elevators,
stairwells and landscaped areas.
Section 4.
Quiet Enjoyment . Landlord agrees that Tenant, on paying the
stipulated rental and keeping and performing the agreements and
covenants herein contained, shall hold and enjoy the Premises for
the term aforesaid, subject, however, to the terms of this
Lease.
Section 1.
Term . The term of this Lease (the “Term”
) shall commence and end on the Commencement Date and Termination
Date, respectively, set forth in Article I herein, subject to
any termination right granted herein.
At any time prior
to said Commencement Date, Tenant shall have the right, at its own
risk, to enter upon the Premises for any reasonable purpose
expressly permitted by Landlord; provided, however, that such entry
shall not interfere with any work being done by or on
behalf
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of Landlord
therein, and Tenant shall indemnify Landlord against any loss or
liability arising from such entry.
Section 2.
Holding Over . If Tenant continues to occupy the Premises
after the last day of the Term or after the last day of any renewal
or extension of the Term, and if Landlord elects to accept any
payment for same, a monthly tenancy terminable at will by either
party shall be created which shall be on all the same conditions as
this Lease, except that Tenant shall pay Base Rent during such
tenancy on a monthly basis, payable on the first day of each month
for each month or partial month during which Tenant retains
possession of the Premises after the Termination Date. Such monthly
Base Rent during such holdover period shall be in an amount equal
to one hundred fifty percent (150%) of the monthly equivalent of
Base Rent payable immediately prior to the expiration of the Term.
Tenant shall indemnify Landlord against all liabilities and damages
sustained by Landlord by reason of such retention of possession.
The provisions of this Section 2 of Article III shall not
constitute a waiver by Landlord of any reentry rights available
under this Lease or by law.
Section 1.
Base Rental . Tenant covenants and agrees to pay to Landlord
as rental for the Premises the Quarterly Base Rent set forth in
Article I, adjusted as hereinafter provided in Section 2
of this Article IV, on or before the first day of each quarter
during the Term, in advance, without demand at the address set
forth in Article I, Section 2 herein; provided, however,
that if the Term does not begin on the first day or end on the last
day of a month, the Quarterly Base Rent due for that partial
quarter shall be prorated by multiplying the Quarterly Base Rent by
a fraction, the numerator of which is the number of days of the
partial quarter included in the Term and the denominator of which
is the total number of days in the full calendar quarter that is
being prorated.
Section 2.
Adjustment of Annual and Quarterly Base Rent . On each
anniversary of the Commencement Date, the Annual Base Rent shall be
adjusted (and the Quarterly Base Rent shall be adjusted
correspondingly) to an increased amount by multiplying the Annual
Base Rent set forth in Article I, Section 1 herein, by a
fraction, the numerator of which shall be the CPI (as hereinafter
defined) for the calendar month during which such anniversary of
the Commencement Date occurs, and the denominator of which shall be
the CPI for the calendar month during which the Commencement Date
occurs; provided, however, in no event shall such increase in
Annual Base Rent exceed an amount equal to one hundred five percent
(105%) of the Annual Base Rent due and payable during the
immediately preceding year of the Term. Notwithstanding any term or
provision in this Lease to the contrary, in no event shall the
Annual or Quarterly Base Rent be less than the initial Annual or
Quarterly Base Rent stated in Article I, Section 1
herein. Landlord shall notify Tenant in writing of any adjusted
Annual and Quarterly Base Rent and such notice shall include a
detailed computation of the new Annual and Quarterly Base Rent.
Additionally, all references in this Lease to “Annual Base
Rent” or “Quarterly Base Rent” shall be deemed
and construed to include the annual adjustment provided
herein.
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For the purpose of
this Section 2 of Article IV, “CPI”
shall mean Consumer Price Index published monthly for All Urban
Consumers, U.S. City Average, Base Year 1982-84 = 100 issued by the
Bureau of Labor Statistics of the United States Department of
Labor, or in the event such index is no longer published, then such
other index as shall be generally acceptable as being comparable
thereto.
Section 3.
Adjustment for Increases in Landlord’s Operating Cost
. Landlord and Tenant agree that the Operating Cost Expense Stop
set forth in Article I, Section 1 herein represents
Landlord’s projection of its expenses to operate the Premises
during the first year of the Term. The Operating Cost Expense Stop
shall be increased each anniversary of the Commencement Date by
multiplying the total Operating Expenses incurred by Landlord for
the immediately prior year of the Term by a fraction, the numerator
of which shall be the CPI for the calendar month during which such
anniversary of the Commencement Date occurs, and the denominator of
which shall be the CPI for the calendar month during which the
Commencement Date occurs. Landlord and Tenant further agree that
the Annual Base Rent payable hereunder has been calculated in part
upon agreed-to service levels and Landlord’s current and
projected costs to operate the Buildings and the Premises. In the
event Landlord’s Operating Cost (as defined hereinafter)
exceeds the Operating Cost Expense Stop for any year during the
Term, Landlord will provide written notice to Tenant together with
documentation of such increases, and Tenant shall reimburse
Landlord for any such excess within thirty (30) days as
Additional Rent.
The term “
Operating Cost ” shall mean and include all costs,
expenses, and disbursements of every kind and nature which Landlord
shall pay or become obligated to pay in connection with the
management, operation, maintenance, replacement and repair of all
Building systems, components and appurtenances according to first
class management principles for a building located in Charlotte,
North Carolina and according to what is best for the Buildings in
Landlord’s judgment. Such costs will include, but will not be
limited to, maintenance, operation, and repair of personal
property, fixtures, machinery, equipment systems and apparatus used
in connection with the Buildings; cleaning; insurance; any
assessments that may be payable to any Owners’ or
Merchants’ Association on the same basis as other buildings
in the area in which the Buildings are located; ad valorem
personal and real property taxes associated with the ownership and
operation of the Building; management fees; utilities; seasonal
decorations, redecoration of public areas; contract services;
amortization of non-permanent equipment (example: trash containers)
which otherwise might be leased; those items listed on
Exhibit C which are not identified in this
Section 3 of Article IV; and the amount of the Rental
Credit granted to Tenant pursuant to Section 7 of this
Article IV.
Operating Cost
shall not include costs for tenant improvements, interest and
principal payments on loans for the Building, salaries and other
compensation for executive officers of Landlord or any Building
manager; expenditures for which Landlord has been reimbursed (other
than pursuant to Additional Rent provisions in tenant leases);
expenses incurred in enforcing obligations of other tenants;
capital expenditures or capital leases (except as otherwise
provided herein and except for costs associated with capital
expenditures or capital leases by Landlord which are the purpose of
reducing Operating Cost); and any costs and expenses pertaining
to
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such
maintenance obligations Tenant has assumed pursuant to
Section 7 of this Article IV and that are included in the
Rental Credit (as defined herein).
Section 4.
Payment of Annual Base Rent. Tenant shall pay Annual Base
Rent (as adjusted) in quarterly installments, in advance, without
demand on the first day of each and every calendar quarter during
the Term. Due to the delay in the publication of the CPI after its
calculation, the amount of the quarterly installments of Annual
Base Rent payable prior to the publication of the CPI during each
twelve (12) month period of the Term beginning on the first
twelve (12) month anniversary of the Commencement Date shall
be based upon the annualized change determined from the CPI most
recently published prior to the beginning of the applicable twelve
(12) month period. After the CPI for each twelve
(12) month period of the Term is published, Landlord shall
calculate any adjustment to Annual Base Rent needed as a result of
such publication, and any amount due Landlord shall be paid by
Tenant with the next quarterly installment of Annual Base Rent. Any
amount due Tenant as a result of such an adjustment shall be paid
by Landlord within thirty (30) days of the
adjustment.
Section 5.
Payment of Additional Rent . All charges other than Base
Rent due from Tenant to Landlord hereunder, including, without
limitation, the payment of Tenant’s Estimated Proportionate
Share as described in Section 3 of this Article IV
(collectively, “Additional Rent”) shall be paid to
Landlord in quarterly installments, in advance, without demand on
the first day of each and every calendar quarter during the
Term.
Section 6.
Adjustments to Rent for Lease of Additional Areas of the
Building. Should Tenant desire to lease any areas of the
Buildings which are not part of the Premises and should such
additional areas be available for lease or when such areas become
so available, Landlord, upon written notice from Tenant, agrees to
lease such areas to Tenant on the same terms and conditions
provided in this Lease, and such additional areas shall become part
of the Premises leased and demised hereunder. The Base Rent then in
effect shall be increased by an amount equal to the product of the
then existing Base Rent per square foot of the Premises multiplied
by the square footage of the additional areas of the Building which
Tenant is to lease.
Section 7.
Tenant Services; Adjustments to Rent. Landlord acknowledges
that Tenant desires to assume direct responsibility for the
following maintenance obligations: security services, maintenance
employees, janitorial services and electrical services. In this
regard, provided Landlord has approved in writing all contracts for
the providing of such services, Tenant shall be entitled to receive
an annual credit against Annual Base Rent for the portion of the
costs incurred by Tenant to provide such services in an amount
equal to Four Hundred Fifty Thousand and No/100 Dollars
($450,000.00) (the “ Rental Credit ”). Provided,
however, on each anniversary of the Commencement Date, the Rental
Credit shall be adjusted to an increased amount resulting from
multiplying the Rental Credit by a fraction, the numerator of which
shall be the CPI for the calendar month during which such
anniversary of the Commencement Date occurs, and the denominator of
which shall be the CPI for the calendar month during which the
Commencement Date occurs; provided, however, in no event shall such
increase in the Rental Credit exceed an amount equal to one hundred
five percent (105%) of the Rental Credit applicable during the
immediately preceding year of the Term. If, at any time during the
Term,
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Tenant desires
to assume direct responsibility for providing any additional
services for or to the Property, Tenant shall notify Landlord in
writing and, provided Landlord agrees to allow Tenant to assume
direct responsibility for providing such additional services, and
further provided Landlord approves in writing all contracts for the
providing of such services, as reimbursement to Tenant for
providing such services, the Rental Credit shall be increased at
such time by an amount determined by Landlord. Notwithstanding the
foregoing, Landlord may, at any time during the Term, revoke
Tenant’s right to provide certain services for or to the
Property pursuant to this Section 7 of Article IV by
providing Tenant with at least thirty (30) days advance
written notice thereof, whereupon the Rental Credit shall be
decreased by an amount determined by Landlord in Landlord’s
reasonable discretion.
Section 8.
Late Payment . If any payment due hereunder from Tenant to
Landlord remains unpaid more than ten (10) days after such
payment is due, the amount of such unpaid payment shall be
increased by a late charge to be paid to Landlord by Tenant in an
amount equal to five percent (5%) of the amount of the delinquent
payment. The amount of the late charge to be paid shall be computed
on the aggregate amount of the delinquent payment then outstanding
for such quarter. Landlord and Tenant agree that such late charge
shall not be deemed to be a penalty, it being understood between
the parties that late payments by Tenant shall result in additional
administrative expense to Landlord which is difficult and
impractical to ascertain and that such late charge is a reasonable
estimate of the loss and expense to be suffered by Landlord as a
result of such late payment by Tenant.
If any sum due
Landlord by Tenant hereunder shall not be paid within thirty
(30) days of its due date, then, in such case, in addition to
the late charge provided for herein above, such sum shall bear
interest beginning on the thirty-first (31st) day after its due
date at the rate of eighteen percent (18%) per annum (or, if less,
the highest rate allowed by law).
If any sums due
Landlord by Tenant hereunder are collected by or through an
attorney at law, Tenant agrees to pay Landlord’s actual and
reasonable attorneys’ fees incurred with respect thereto, not
to exceed fifteen percent (15%) of the total sums due or, if the
laws of the State of North Carolina in effect at the time of such
collection limit the amount so payable as attorneys’ fees,
then the maximum percentage not in excess of fifteen percent (15%)
allowed by such laws, of the amount so collected.
Nothing herein
shall relieve Tenant of the obligation to pay any amount due
hereunder on or before the date on which any such payment is due,
nor in any way limit Landlord’s remedies under this Lease or
at law in the event said payment is unpaid after same is due.
Amounts due hereunder shall be deemed to be additional rent and the
failure to pay the same within ten (10) days after same are
due shall constitute a default of this Lease.
Section 9.
Application of Payments Received from Tenant . Landlord,
acting in its sole discretion, shall have the right to apply any
payments made by Tenant to the satisfaction of any debt or
obligation of Tenant to Landlord regardless of the instructions of
Tenant as to the application of any sum whether such instructions
be endorsed upon Tenant’s check or otherwise, unless
otherwise agreed upon by both parties in writing. The acceptance by
Landlord of a check
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or checks drawn
by anyone other than Tenant shall in no way effect Tenant’s
liability hereunder nor shall it be deemed an approval of any
assignment of this Lease by Tenant.
UTILITIES, SERVICES AND
MAINTENANCE
Section 1.
Landlord’s Services and Maintenance . Unless otherwise
provided by Tenant pursuant to Article IV, Section 7
herein, Landlord shall provide the following services: (1) maintain
a heating and air conditioning unit or units in good condition and
repair in the Premises; (2) city water from the
Buildings’ fixtures for drinking, lavatory and toilet
purposes; (3) customary cleaning, mowing, grounds keeping, snow
removal and trash removal in the Common Areas of the Buildings;
(4) window washing in the Premises, inside and outside, at
reasonable intervals; (5) adequate passenger elevator service in
common with other tenants of the Buildings; (6) heating, air
conditioning, customary cleaning and janitorial services for the
Common Areas in the Buildings; (7) replacement of lamps (both
fluorescent and incandescent) only in the Buildings with standard
lighting fixtures as specified by Landlord for the Premises and
Common Areas of the Buildings (any lamps for non-Building standard
lighting fixtures shall be Tenant’s responsibility); and
(8) keep the Buildings open to guests, invitees, employees and
customers of Tenant Monday through Friday from 8:00 a.m. until 6:00
p.m., excluding federal holidays.
Landlord shall not
be obligated to furnish any services or utilities, other than those
stated above. If Landlord elects to furnish services or utilities
requested by Tenant in addition to those listed above in this
Section 1 of Article V, or at times other than those
stated above, then Tenant shall pay to Landlord the prevailing
charges for such services and utilities within thirty
(30) days after billing. If Tenant fails to make any such
payment, then Landlord may, without notice to Tenant and in
addition to Landlord’s other remedies provided under this
Lease, discontinue any or all of such additional or after-hours
services. No such discontinuance of any service shall result in any
liability of Landlord to Tenant or be considered an eviction or a
disturbance of Tenant’s use of the Premises.
Landlord shall
have no liability or responsibility to Tenant for loss or damage
should the furnishing of any of the utilities and services herein
provided be prohibited or stopped for repairs, alterations or
improvements or by reason of causes beyond Landlord’s
control, including, without limitation, accidents, strikes, storms,
Acts of God, labor trouble or disturbances, lockouts or orders or
regulations of the federal, state or municipal
government.
The cost of
Landlord’s performing any maintenance, repair or replacement
caused by the negligence of Tenant, its employees, agents,
servants, licensees, subtenants, contractors or invitees, or the
failure of Tenant to perform its obligations under this Lease shall
be paid by Tenant, except to the extent of insurance proceeds, if
any, actually collected by Landlord with regard to the damage
necessitating such repairs.
Section 2.
Tenant’s Services and Maintenance . Tenant shall make
arrangements directly with the public utility electric company
serving the Buildings for all electric power or current
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serving the
Premises and the Common Areas in the Buildings, including the
provision of electric power for heat and air conditioning, and
directly with the telephone company or companies for all telephone
service required by Tenant. Tenant shall pay for all electric and
telephone service used or consumed in the Premises and in the
Common Areas in the Buildings, including the cost of installation
of any separate meters.
Landlord shall not
be responsible for the maintenance, repair or replacement of any
systems which are located within the Premises and are supplemental
or special to the standard systems of either Building, whether
installed pursuant to a work letter or otherwise, for any lamps
(whether fluorescent or incandescent), for any special or
non-Building standard lighting fixtures or for any floor or wall
coverings in the Premises. Tenant shall be responsible for all
services; maintenance and repairs not specifically delegated to
Landlord hereunder which are required to keep the interior of the
Premises in good condition and repair.
If heat generating
machines or equipment are used in the Premises by Tenant which
affect the temperature otherwise maintained by the heating and air
conditioning systems of either Building, then Landlord shall have
the right to install supplemental air conditioning units in the
Premises and the cost of such units, and the cost of installation,
operation and maintenance thereof, shall be paid by Tenant to
Landlord within thirty (30) days of demand by
Landlord.
Section 3.
Extra Services . Whenever Landlord has knowledge that any
tenant (including Tenant) is using extra services because of either
non-business hour’s use or high consumption, Landlord may
directly charge that tenant for the extra use and exclude those
charges from Operating Expenses.
Tenant’s
failure to pay the charges in this Article V, Section 3
within thirty (30) days of receiving a proper and correct
invoice shall entitle Landlord to the same remedies it has upon
Tenant’s failure to pay Base Rent or any other charges due
under this Lease.
ALTERATIONS, REPAIRS AND
MAINTENANCE
Section 1.
Alterations . Tenant agrees that it will make no
alterations, additions or improvements to the Premises without the
prior written consent of Landlord (not to be unreasonably withheld)
and that all alterations, additions or improvements made by or for
Tenant, including, without limitation, any and all subdividing
partitions, walls or railings of whatever type, material or height,
excepting movable office furniture installed at the expense of
Tenant, shall, when made, become the property of Landlord and shall
remain upon and be surrendered with the Premises as a part thereof
at the end of the Term, unless Landlord shall notify Tenant to
remove same, in which latter event Tenant shall remove such
property and restore the Premises to the same condition as it
existed prior to the Commencement Date, normal wear and tear
excepted. Tenant shall not core drill or in any other manner
attempt to penetrate or penetrate the floors of the Buildings
without obtaining permission of Landlord.
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In the event that
Tenant constructs any improvements to the Premises, then those
improvements must be constructed (a) using, at least, finishes
which are standard to the Buildings and according to plans and
specifications and using only contractors and subcontractors
approved by Landlord in advance, and (b) in compliance with
all applicable laws, ordinances, rules, building codes, and
regulations of Federal, State, municipal and county authorities,
including, without limitation, the procurement of a building permit
and (c) in a diligent, good and workmanlike manner. Tenant
shall obtain a Builders’ Risk Insurance Policy in such amount
as is reasonably requested by Landlord, naming Landlord as an
additional insured and providing that such policy will not be
canceled without first giving Landlord at least fifteen
(15) days prior written notice thereof. Any mechanical or
electrical work and any penetration of floors must be performed by
Landlord’s contractors and subcontractors at Tenant’s
expense. Upon completion of any such construction by Tenant, Tenant
must furnish Landlord with a complete set of as-built plans and
specifications for the same. Tenant will not permit, and will
indemnify Landlord and hold it harmless from, any mechanic’s
or materialmen’s liens against the Premises in connection
with any such improvements.
Section 2.
Right of Entry . Tenant agrees that Landlord shall have the
right to enter into and to grant licenses to enter into the
Premises at any time (a) to examine the Premises, (b) to make
alterations and repairs to the Premises or to the Buildings
(including the right, during the progress of such alterations or
repairs, to keep and store within the Premises all necessary
materials, tools and equipment) or (c) to exhibit the Premises
to prospective purchasers or tenants. No such entry into the
Premises shall render Landlord liable to any claim or cause of
action for loss of or damage to property of Tenant by reason
thereof, nor in any manner affect the obligations and covenants of
this Lease; provided, however, Landlord shall use commercially
reasonable efforts to minimize any disruption to Tenant’s
business during Landlord’s exercise of its rights as provided
in this Section 2 of Article VI.
Section 3.
Tenant’s Care of Premises . Tenant shall:
(i) keep the
Premises and fixtures in good order, including, without limitation,
maintenance and repair, including replacement if necessary, of all
doors (exterior and interior), all interior plate glass and window
glass, and all wall and floor coverings, effecting all such
maintenance and repairs at its own expense and employing materials
and labor of a kind and quality equal to the original
installations;
(ii) make
repairs and replacements to the Premises or Buildings needed
because of Tenant’s misuse or primary negligence, or as
provided in any other provision of this Lease, including, without
limitation, Section 5 of this Article VI;
(iii) repair
and replace special equipment or decorative treatments above
Building standard installed by or at Tenant’s request and
that serve the Premises only, or any trade fixtures of Tenant,
except to the extent the repairs or replacements are needed because
of Landlord’s misuse or primary negligence and are not
covered by Tenant’s insurance or the insurance Tenant is
required to carry under Article VIII, Section 2 herein,
whichever is greater.
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(iv) if
Tenant fails to replace or repair equipment or other installations
in or about the Premises as above provided, then immediately after
advising Tenant in writing as to the necessity therefore, Landlord
may undertake and complete the required work and add the cost
thereof to the next Quarterly Base Rent payment due hereunder,
provided Tenant shall not be liable to Landlord for any failure to
fulfill the obligations of this Section 3 of Article VI
until such time as Tenant shall be notified, as aforesaid, in
writing of the requirements therefor.
Section 4.
Landlord’s Repairs . Landlord shall make the repairs
and replacements to the Buildings, other than the repair
obligations of Tenant outlined in Section 3 of this
Article VI and in Article IV, Section 7 herein,
including to the roof, foundation, exterior walls, interior
structural walls, all structural components and all systems, such
as mechanical, electrical, HVAC and plumbing.
Section 5.
Time for Repairs . Repairs or replacements required
hereunder shall be made within a reasonable time (depending on the
nature of the repair or replacement needed) after receiving notice
or having actual knowledge of the need for a repair or
replacement.
Section 6.
Surrendering the Premises . Upon the Termination Date or the
date the last extension term, if any, ends, whichever is later,
Tenant shall surrender the Premises to Landlord in the same broom
clean condition that the Premises were in on the Commencement Date
except for:
(i) ordinary
wear and tear;
(ii) damage
by the elements, fire and other casualty unless Tenant would be
required to repair under Section 3 of this
Article VI;
(iv) damage
arising from any cause not required to be repaired or replaced by
Tenant; and
(v) alterations
as permitted by this Lease unless consent was conditioned on their
removal.
On surrender,
Tenant shall remove from the Premises its personal property, trade
fixtures and any alterations required to be removed under
Section 1 of this Article VI and repair any damage to the
Premises caused by such removal. Any items not removed by Tenant as
required above shall be considered abandoned. Landlord may dispose
of abandoned items as Landlord chooses and bill Tenant for the cost
of their disposal, minus any revenues received by Landlord for such
disposal.
11
Section 1.
Use and Occupancy . Tenant agrees that (i) the Premises
will be used only for general office purposes, (ii) that no
unlawful use of the Premises will be made, (iii) that no sign,
name, legend, notice or advertisement of any kind will be fixed,
printed, painted or displayed on any part of the Buildings without
the prior written approval of Landlord, except that the name and
suite number of Tenant may be displayed in a manner prescribed by
Landlord and except as otherwise may be provided in
Article II, Section 1 herein.
Section 2.
Parking . Tenant agrees for itself, its employees, agents
and invitees to comply with the parking rules contained in the
Parking Rules and Regulations attached hereto as
Exhibit D , together with all reasonable modifications
and additions thereto which Landlord may from time to time make.
Tenant shall use parking spaces only in a manner which is
compatible with the day-to-day general use of the Buildings by its
employees, visitors, customers, invitees, guests and other tenants
in the Buildings. Tenant agrees that Landlord shall have the right
to tow vehicles of Tenant and its employees, agents, guests and
visitors that are parked in such a way as to be in violation of the
Parking Rules and Regulations.
Landlord reserves
the right from time to time without notice to Tenant to
(a) change the location or configuration of the parking areas
of the Buildings (the “ Parking Areas ”), or any
portion thereof; (b) change the number of parking spaces
located within the Parking Areas, or any portion thereof;
(c) install systems to control and monitor parking in the
Parking Areas, or any portions thereof, including, without
limitation, a parking gate and identification card system; (d)
utilize parking guards or attendants to supervise and
control
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