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FIRST AMENDMENT TO OFFICE LEASE

Office Lease Agreement

FIRST AMENDMENT TO OFFICE LEASE | Document Parties: CHESAPEAKE PLAZA, LLC | PIER 1 SERVICES COMPANY You are currently viewing:
This Office Lease Agreement involves

CHESAPEAKE PLAZA, LLC | PIER 1 SERVICES COMPANY

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Title: FIRST AMENDMENT TO OFFICE LEASE
Date: 7/9/2008
Industry: Retail (Specialty)     Sector: Services

FIRST AMENDMENT TO OFFICE LEASE, Parties: chesapeake plaza  llc , pier 1 services company
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Exhibit 10.1.1
FIRST AMENDMENT TO OFFICE LEASE
     THIS FIRST AMENDMENT TO OFFICE LEASE (this “ First Amendment ”) is entered into as of the 20 th day of June, 2008 (the “ Effective Date ”), by and between CHESAPEAKE PLAZA, L.L.C. , a Oklahoma limited liability company (“ Landlord ”), and PIER 1 SERVICES COMPANY , a Delaware statutory trust (“ Tenant ”).
Recitals:
      A.  Landlord and Tenant entered into that certain Office Lease dated June 9, 2008 (the “ Lease ”), covering certain space containing approximately 344,798 Rentable Square Feet located on the mezzanine and on the 5 th , 6 th , 7 th , 8 th , 9 th , 10 th , 11 th , 12 th , 14 th , 15 th , 16 th , 17 th and 20 th floors (the “ Premises ”), of the office building now known as Chesapeake Plaza and located at 100 Pier 1 Place, Fort Worth, Tarrant County, Texas (the “ Building ”).
      B.  Landlord and Tenant desire to amend and modify the Lease in certain respects as provided herein. Unless otherwise expressly provided herein, capitalized terms used herein shall have the same meanings as designated in the Lease.
Agreement:
     In consideration of the sum of Ten and No/100 Dollars ($10.00), the mutual covenants and agreements contained herein and in the Lease, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Landlord and Tenant hereby amend and modify the Lease as follows:
1. Premises . Landlord and Tenant have agreed to redefine the Rentable Square Footage of the Premises for all purposes under the Lease. Accordingly, as of the Effective Date, all references to the Rentable Square Footage of the Premises being 344,798 square feet are deleted and replaced with references to the Rentable Square Footage of the Premises being 357,294 square feet. In addition, Exhibit A-1 attached to the Lease is hereby deleted in its entirety and replaced with Exhibit A-1 attached hereto. Notwithstanding Sections 1.C and 2 and any other provisions of the Lease to the contrary, if Tenant and/or any of Tenant’s employees are charged a fee for access to the fitness center/workout room (but specifically excluding any fees or charges that are associated with incidental services or products that are offered at the fitness center/workout room, including, but not limited to, charges or fees for personal trainers or sales of food and beverage products) in the Building (wherever located), the total square footage of the fitness center/workout room, including any dressing rooms, showers or restrooms incidental to such fitness center/workout room, will be removed from the calculation of the Common Area Allocation factor used to determine the Rentable Square Footage of the Premises (as set out in Exhibit A-1 attached hereto), and therefore the Rentable Square Footage of the Premises shall be reduced accordingly. The figures of “$2,133,586.00” and “246,183” in Section 3.E are replaced with the figures “$2,210,892.66” and “255,103”, respectively.
2. Base Rent . As of the Effective Date hereof, Section 1.D of the Lease is hereby deleted in its entirety and replaced with the following:
     
Chesapeake Plaza/Pier 1 Services Company    
 
    First Amendment to Office Lease
    Page 1

 


 
     “ D. Base Rent” :
                                 
                    Annual Rate   Monthly
Period   Per Square Foot   Base Rent
 
                               
June 9, 2008
  through   June 30, 2011   $ 24.00     $ 714,588.00 *
July 1, 2011
  through   June 30, 2015   $ 26.00     $ 774,137.00 *
Lease Month = A full calendar month, for example, if the Commencement
Date occurs on June 15, Lease Month 1 will be July 1 through July 31,
Lease Month 2 will be August 1 through August 31, and so on.
 
*   Tenant’s monthly Base Rent obligations will be reduced as the Rentable Square Footage of the Premises is reduced including, without limitation, reductions pursuant to the provisions of Article 3 of this Lease and reductions as a result of the leasing of the lobby or other Commo

 
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