QUALITY SYSTEMS INC | VON KARMAN MICHELSON CORPORATION
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Title: OFFICE LEASE Date: 6/13/2006 Industry: Software and Programming
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Exhibit 10.23
OFFICE LEASE
BETWEEN
VON KARMAN MICHELSON CORPORATION
AS LANDLORD
AND
QUALITY SYSTEMS, INC.
AS TENANT
FOR
18201 VON KARMAN
SUMMARY OF BASIC LEASE
INFORMATION
This Summary (the
“Summary”) is hereby incorporated into and made a part
of the attached Lease (this Summary and the Lease to be known
collectively as the “Lease”). Each reference in the
Lease to any term of this Summary shall have the meaning as set
forth in this Summary. In the event of a conflict between the terms
of this Summary and the Lease, the terms of the Lease shall
prevail. Any capitalized terms used herein and not otherwise
defined herein shall have the meaning as set forth in the
Lease.
1.
Date:
Sept 6 2005
2.
Landlord:
Von Karman Michelson Corporation,
a Delaware Corporation
3.
Address of
Landlord:
American Realty Advisors
801 North Brand Blvd., Suite 800
Glendale, California 91203
Attention: Stanley Iezman
Phone: (818) 545-1152
Telecopy: (818) 545-8460
4.
Tenant:
Quality Systems, Inc.
5.
Address of
Tenant:
18191 Von Karman Avenue, Suite
450
Irvine, California 92612
Attention:
Phone:
Telecopy:
(Prior to Commencement
Date)
and
18191 Von Karman Avenue, Suite
450
Irvine, California 92612
Attention:
Phone:
Telecopy:
(After Commencement
Date)
6.
Premises:
Suite No. 1050, in the Building
which the parties agree contains 3,313 rentable square feet and
2,918 usable square feet. The Premises are outlined on the plan
attached to the Lease as Exhibit A.
7.
Building:
The building of which the
Premises are a part is located at 18201 Von Karman Avenue, Irvine,
California as shown on Exhibit B (the “Building”) and
located on the real property described on Exhibit C (the
“Property”). The Building is known as “18201 Von
Karman.” The parties agree that the Building contains 219,678
rentable square feet.
8.
Term.
(a) Lease Term:
Sixty-one (61) months.
(1)
(b)
Commencement Date:
The earliest of (a) the date on
which Tenant occupies any portion of the Premises and begins
conducting business therein; (b) the Possession Date; (c) the date
of Substantial Completion; or (d) the date on which Substantial
Completion would have occurred but for the occurrence of any Tenant
Delays.
The anticipated Possession Date is November 15, 2005.
(c)
Expiration Date:
The last day of the month that is
61 months after the Commencement Date occurs.
9.
Base Rent:
Lease Month
Monthly
Base Rent
Monthly Rental Rate per Rentable Square
Foot
1-12
$
7,619.90
$
2.30
13-24
$
7,785.55
$
2.35
25-36
$
7,951.20
$
2.40
37-48
$
8,116.85
$
2.45
49-61
$
8,282.50
$
2.50
Provided that Tenant has
faithfully performed all of the terms and conditions of this Lease,
Landlord agrees to abate Tenant’s obligation to pay Base Rent
for the first (1st) month of the Term (the “Conditional
Rent”). Notwithstanding the foregoing, however, during such
abatement period, Tenant shall still be responsible for the payment
of all Additional Rent payable under this Lease. In the event of a
Default at any time during the Term, in addition to any other
remedies to which Landlord may be entitled, Landlord shall be
entitled to recover the Conditional Rent (i.e. the amount of the
Conditional Rent shall not be deemed to have been abated, but shall
become immediately due and payable as unpaid Rent earned, but due
at the time of such Default).
10.
Additional
Rent.
(a)
Base Year:
Calendar year 2006.
(b)
Tenant’s Proportionate
Share of Operating Costs:
1.51%.
11.
Construction:
(a)
Landlord Supervision
Fee:
Five percent (5)% of the
Allowance.
12.
Security
Deposit:
$8,381.89.
13.
Permitted Use:
General office use.
14.
Parking:
Non-Reserved Parking Spaces: Up
to four (4) spaces for every 1,000 usable square feet of the
Premises.
Initial Monthly Non-Reserved
Parking Rate: $50.00 per space.
15.
Brokers:
(2)
(a)
Tenant:
Kern Olsen Real Estate
Services
4101 Birch Street, Suite 150
Newport Beach, CA 92660
Attention: James Kern
(b)
Landlord:
CB Richard Ellis
2030 Main Street, Suite 230
Irvine, CA 92614
Attention: John Weiner
16.
Addenda and
Exhibits:
The addenda and exhibits listed
below are incorporated by reference in this Lease.
Addendum #1 – Cancellation
Option
Exhibit A
Floor Plan of Premises
Exhibit B
Site Plan of Building
Exhibit C
Legal Description
Exhibit D
Term Certification
Exhibit E
Construction
Exhibit F
Building Services
Exhibit G
Rules and Regulations
Exhibit H
Parking Agreement
Landlord and Tenant hereby agree
to the foregoing terms of this Lease Summary.
LANDLORD:
VON KARMAN MICHELSON
CORPORATION,
a Delaware corporation
