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SECOND AMENDMENT TO LEASE AGREEMENT

Lease Agreement

SECOND AMENDMENT TO LEASE AGREEMENT | Document Parties: SIEMENS SHARED SERVICES, LLC | FUND XIII AND FUND XIV ASSOCIATES, You are currently viewing:
This Lease Agreement involves

SIEMENS SHARED SERVICES, LLC | FUND XIII AND FUND XIV ASSOCIATES,

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Title: SECOND AMENDMENT TO LEASE AGREEMENT
Governing Law: Florida     Date: 8/12/2009

SECOND AMENDMENT TO LEASE AGREEMENT, Parties: siemens shared services  llc , fund xiii and fund xiv associates
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Exhibit 10.1

SECOND AMENDMENT TO LEASE AGREEMENT

THIS SECOND AMENDMENT TO LEASE AGREEMENT (the “Second Amendment”), is made this 20 th day of May, 2009, by and between FUND XIII AND FUND XIV ASSOCIATES, a Georgia joint venture (as “Landlord”) and SIEMENS SHARED SERVICES, LLC (Siemens Real Estate Division), a Delaware limited liability company (as “Tenant”).

W I T N E S S E T H :

WHEREAS, NBS Orlando Quad 14, LLC (“NBS”) and Tenant did enter into that certain Lease Agreement (the “Original Lease”), dated as of April 23, 2002, for space in that certain building (the “3500 Building”) at 3500 Quadrangle Boulevard, Orlando, Florida, as more particularly described in the Original Lease (the “Premises).

WHEREAS, NBS did convey its interest in the Building and Original Lease to Landlord.

WHEREAS, Landlord and Tenant did enter into that certain First Amendment to Lease Agreement (the “First Amendment”), dated as of August 27, 2007, for space at 3626 Quadrangle Boulevard, Orlando, Florida.

WHEREAS, the Original Lease as modified by the First Amendment, is herein sometimes collectively referred to as the “Lease”.

WHEREAS, Landlord and Tenant desire to modify and amend the Lease, in the manner and for the purposes herein set forth.

NOW, THEREFORE, for and in consideration of the mutual covenants contained herein, and for Ten and No/100 Dollars ($10.00) and other good and valuable consideration, paid by the parties to one another, the receipt and sufficiency of which are acknowledged by the parties hereto, the parties hereto hereby covenant and agree as follows:

1. Effective Date . The effective date of this Second Amendment (the “Effective Date”) shall be October 1, 2009. This Second Amendment shall be binding on the parties hereto upon the execution and delivery of this Second Amendment by all parties hereto, notwithstanding that the Effective Date shall be a later date.

2. Premises . Tenant hereby leases and rents from Landlord, and Landlord hereby leases and rents to Tenant, the same space as leased by Tenant under the Lease, being 7,076


rentable square feet, in that certain building located at 3626 Quadrangle Square (which building is adjacent to the 3500 Building and which building is owned by the same owner as the 3500 Building), as well as 52,125 rentable square feet in the 3500 building, for a total of 59,201 rentable square feet leased by Tenant (collectively, the “Premises”).

3. Lease Extension Term . The term of lease for the Premises shall be extended by two (2) years (the “Extension Term”), through September 30, 2011, unless sooner terminated in accordance with the Lease. Tenant has no further rights to extend or renew the term of the Lease.

4. Base Rent . The Premises shall be leased at the rate of Base Rent on a per square foot per annum basis for the Extension Term, and Tenant hereby covenants and agrees to pay Landlord, the amounts as follow:

 

Period

  

Annual Base
Rent (per
square foot,
per annum)

  

Monthly
Base Rent

  

Annual
Base Rent

October 1, 2009 - September 30, 2010

  

$

15.53

  

$

76,615.96

  

$

919,391.53

October 1, 2010 - September 30, 2011

  

$

16.00

  

$

78,934.67

  

$

947,216.00

Such Base Rent shall be payable at the times and in the manner that Rent is paid under the Original Lease, from and after the Effective Date. Upon request of either Landlord or Tenant, Landlord will forward to Tenant, Landlord’s account information and wire transfer instructions so that Tenant can pay all Base Rent and Additional Rent by wire transfer of immediately available federal funds.

5. Operating Costs and Taxes . (a) Tenant’s Share of Operating Costs, as defined in the Original Lease, shall be due from Tenant with respect to the Premises for the Extension Term, in the same manner and at the same time as such Operating Costs are due with respect to the Premises, under the Original Lease.

(b) Tenant’s Share of Taxes, as defined in the Original Lease, shall be due from Tenant with respect to the Premises for the Extension Term, in the same manner and at the same time as such Taxes are due with respect to the Premises, under the Original Lease.

6. Tenant Improvement Allowance . (a) Tenant shall take and accept the Premises in its current, “as is” condition. Work in the Premises, if any, shall be performed under Tenant’s supervision and direction (and Landlord shall not be responsible

 

2


for such work). Work shall take place while Tenant is in occupancy of the Premises. Work shall be performed based upon plans approved by Landlord, in Landlord’s reasonable discretion, at reasonable times, using contractors and subcontractors consented to by Landlord, in Landlord’s reasonable judgment.

(b) Landlord shall provide a tenant improvement allowance in connection with the Extension Term and for use on improvements, alterations, modifications, and any other changes in or related to the Premises (but not for the purchase of equipment or other personal property), of Four and No/100 Dollars ($4.00) per rentable square foot therein, or $236,804.00 in the aggregate (the “Extension Allowance”). Tenant may apply the Extension Allowance against the cost of the improvements described in Exhibit A attached her


 
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