|
Exhibit
10.16
AP SOUTHEAST PORTFOLIO
PARTNERS, L.P.
(“Landlord”)
and
ACCENTIA,
INC.
(“Tenant”)
OFFICE
LEASE
TABLE OF
CONTENTS
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Section 1:
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Basic Definitions and Provisions |
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a. |
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Premises
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-5- |
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b. |
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Term
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-5- |
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c. |
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Permitted Use
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-5- |
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d. |
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Occupancy Limitation
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-5- |
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e. |
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Base Rent
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-5- |
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f. |
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Rent Payment Address
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-5- |
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g. |
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Security Deposit
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-6- |
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h. |
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Business Hours.
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-6- |
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i. |
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Electrical Service
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-6- |
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j. |
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After Hours HVAC Rate
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-6- |
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k. |
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Parking
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-6- |
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l. |
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Construction Fee
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-6- |
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m. |
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Broker
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-6- |
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n. |
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Notice Addresses
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-6- |
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Section 2.
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Leased Premises |
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a. |
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Premises
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-7- |
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b. |
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Rentable Square Foot
Determination
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-7- |
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c. |
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Common Areas
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-7- |
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Section 3:
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Term |
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a. |
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Commencement and Expiration
Dates
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-7- |
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b. |
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Adjustments to Commencement
Date
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-7- |
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c. |
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Termination by Tenant for Failure to
Deliver Possession
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-7- |
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d. |
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Delivery of Possession
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-7- |
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e. |
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Adjustment of Expiration
Date
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-7- |
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f. |
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Right to Occupy
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-8- |
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g. |
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Commencement Agreement
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-8- |
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Section 4:
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Use |
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a. |
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Permitted Use
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-8- |
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b. |
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Prohibited Uses
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-8- |
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c. |
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Prohibited Equipment in
Premises
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-8- |
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Section 5:
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Rent |
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a. |
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Payment Obligations
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-8- |
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b. |
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Base Rent
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-9- |
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c. |
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Additional Rent
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-9- |
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Section 6:
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Security Deposit |
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a. |
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Amount of Deposit
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-9- |
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b. |
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Application of Deposit
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-9- |
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c. |
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Refund of Deposit
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-10- |
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Section 7:
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Services by Landlord |
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a. |
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Base Services
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-10- |
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b. |
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Landlord’s
Maintenance
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-10- |
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c. |
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No Abatement.
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-11- |
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d. |
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Tenant’s Obligation to Report
Defects
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-11- |
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e. |
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Limitation on Landlord’s
Liability
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-11- |
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Section 8:
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Tenant’s Acceptance and Maintenance of
Premises |
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a. |
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Acceptance of Premises
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-11- |
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1 |
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[INITIALS GRAPHIC APPEARS HERE] |
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b. |
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Move-in Obligations
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-11- |
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c. |
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Tenant’s
Maintenance
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-11- |
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d. |
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Alterations to
Premises.
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-11- |
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e. |
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Restoration of
Premises
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-11- |
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f. |
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Landlord’s Performance of
Tenant’s Obligations
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-12- |
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g. |
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Construction Liens
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-12- |
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h. |
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Communications
Compliance
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-12- |
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Section 9:
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Property of Tenant |
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a. |
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Property Taxes
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-13- |
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b. |
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Removal.
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-13- |
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Section 10:
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Signs |
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-13- |
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Section 11:
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Access to Premises |
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a. |
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Tenant’s Access
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-13- |
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b. |
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Landlord’s
Access
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-13- |
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c. |
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Emergency Access
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-13- |
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Section 12:
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Tenant’s Compliance |
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a. |
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Laws
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-13- |
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b. |
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Rules and Regulations
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-14- |
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Section 13:
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ADA Compliance |
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a. |
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Tenant’s
Compliance
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-14- |
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b. |
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Landlord’s
Compliance
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-14- |
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c. |
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ADA Notices
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-14- |
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Section 14:
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Insurance Requirements |
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a. |
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Tenant’s Liability
Insurance
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-14- |
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b. |
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Tenant’s Property
Insurance
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-14- |
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c. |
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Certificates of
Insurance
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-14- |
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d. |
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Insurance Policy
Requirements
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-14- |
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e. |
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Landlord’s Property
Insurance
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-15- |
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f. |
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Mutual Waiver of
Subrogation
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-15- |
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Section 15:
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Indemnity |
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a. |
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Indemnity
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-15- |
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b. |
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Defense Obligation
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-15- |
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Section 16:
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Quiet Enjoyment. |
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-15- |
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Section 17:
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Subordination; Attornment; Non-Disturbance; and Estoppel
Certificate |
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a. |
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Subordination and
Attornment.
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-15- |
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b. |
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Non-Disturbance
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-16- |
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c. |
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Estoppel Certificates
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-16- |
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Section 18:
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Assignment – Sublease |
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a. |
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Landlord Consent
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-16- |
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b. |
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Definition of
Assignment
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-16- |
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c. |
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Permitted
Assignments/Subleases
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-17- |
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d. |
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Notice to Landlord
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-17- |
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e. |
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Prohibited
Assignments/Sublease
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-17- |
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f. |
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Limitation on Rights of
Assignee/Sublessee
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-17- |
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g. |
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Tenant Not Released
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-17- |
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h. |
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Landlord’s Right to Collect
Sublease Rents Upon Tenant Default
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-17- |
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i. |
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Excess Rents
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-17- |
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j. |
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Landlord’s Fees
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-17- |
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k. |
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Unauthorized Assignment or
Sublease
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-17- |
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Section 19:
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Damages to Premises |
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a. |
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Landlord’s Restoration
Obligations
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-17- |
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2 |
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[INITIALS GRAPHIC APPEARS HERE] |
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b. |
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Termination of Lease by
Landlord
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-18- |
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c. |
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Termination of Lease by
Tenant
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-18- |
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d. |
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Tenant’s Restoration
Obligations
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-18- |
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e. |
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Rent Abatement
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-18- |
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f. |
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Waiver of Claims
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-18- |
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Section 20:
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Eminent Domain |
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a. |
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Effect on Lease
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-18- |
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b. |
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Right to Condemnation
Award
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-19- |
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Section 21:
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Environmental Compliance |
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a. |
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Environmental Laws
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-19- |
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b. |
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Tenant’s
Responsibility
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-19- |
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c. |
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Tenant’s
Liability
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-19- |
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d. |
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Limitation on Tenant’s
Liability
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-19- |
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e. |
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Inspections by
Landlord
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-20- |
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f. |
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Landlord’s
Liability
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-20- |
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g. |
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Property
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-20- |
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h. |
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Tenant’s Liability after
Termination of Lease
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-20- |
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Section 22:
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Default |
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a. |
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Tenant’s Default
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-20- |
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b. |
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Landlord’s
Remedies
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-20- |
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c. |
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Landlord’s
Expenses
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-21- |
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d. |
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Remedies Cumulative
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-21- |
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e. |
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No Accord and
Satisfaction
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-21- |
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f. |
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No Reinstatement
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-21- |
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g. |
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Summary Ejectment.
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-21- |
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Section 23:
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Multiple Defaults |
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a. |
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Loss of Option Rights
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-21- |
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b. |
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Increased Security
Deposit
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-22- |
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c. |
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Effect on Notice Rights and Cure
Periods
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-22- |
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Section 24:
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Bankruptcy |
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a. |
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Trustee’s Rights
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-22- |
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b. |
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Adequate Assurance
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-22- |
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c. |
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Assumption of Lease
Obligations
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-22- |
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Section 25:
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Notices |
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a. |
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Addresses
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-22- |
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b. |
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Form; Delivery;
Receipt
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-22- |
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c. |
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Address Changes
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-23- |
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d. |
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Notice by Legal
Counsel
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-23- |
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Section 26:
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Holding Over |
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-23- |
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Section 27:
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Right to Relocate |
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a. |
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Substitute Premises
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-23- |
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b. |
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Notice
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-23- |
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c. |
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Upfit of Substitute
Premises
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-23- |
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d. |
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Relocation Costs
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-23- |
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e. |
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Lease Terms
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-23- |
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f. |
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Limitation on Landlord’s
Liability
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-24- |
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Section 28:
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Broker’s Commissions |
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a. |
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Broker
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-24- |
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b. |
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Landlord’s
Obligation
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-24- |
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c. |
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Indemnity
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-24- |
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3 |
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[INITIALS GRAPHIC APPEARS HERE] |
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Section 29:
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Miscellaneous |
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a. |
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No Agency
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-24- |
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b. |
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Force Majeure
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-24- |
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c. |
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Building Standard
Improvements
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-24- |
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d. |
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Limitation on Damages
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-24- |
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e. |
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Satisfaction of Judgments Against
Landlord.
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-24- |
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f. |
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Interest
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-24- |
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g. |
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Legal Costs
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-25- |
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h. |
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Sale of Premises or
Building
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-25- |
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i. |
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Time of the Essence
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-25- |
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j. |
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Transfer of Security
Deposit
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-25- |
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k. |
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Tender of Premises
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-25- |
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l. |
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Tenant’s Financial
Statements
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-25- |
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m. |
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Recordation
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-25- |
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n. |
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Partial Invalidity
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-25- |
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o. |
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Binding Effect
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-25- |
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p. |
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Entire Agreement
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-25- |
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q. |
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Good Standing.
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-25- |
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r. |
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Terminology
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-25- |
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s. |
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Headings
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-26- |
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t |
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Choice of Law
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-26- |
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u. |
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Effective Date
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-26- |
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v. |
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Interlineation
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-26- |
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Section 30:
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Special Conditions |
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-26- |
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Section 31:
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Addenda and Exhibits |
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-26- |
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a. |
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Lease Addendum Number One –
“Work Letter”
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b. |
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Lease Addendum Number Two –
“Additional Rent – Operating Expense Pass
Throughs”
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c. |
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Lease Addendum Number Three –
INTENTIONALLY OMITTED
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d. |
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Lease Addendum Number Four –
INTENTIONALLY OMITTED
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e. |
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Lease Addendum Number Five –
“Tenant Parking Agreement”
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f. |
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Lease Addendum Number Six –
“Radon”
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g. |
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Exhibit A –
Premises
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h. |
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Exhibit B – Rules and
Regulations
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i. |
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Exhibit C – Commencement
Agreement
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4 |
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[INITIALS GRAPHIC APPEARS HERE] |
State of Florida:
County of Hillsborough
:
OFFICE
LEASE
THIS LEASE (
“Lease”), made this 1 st
day of May,
2004, by and between AP SOUTHEAST PORTFOLIO PARTNERS,
L.P. , a limited partnership ,
(“Landlord”) and ACCENTIA, INC. a
, (“Tenant”), provides as follows:
| |
1. |
BASIC DEFINITIONS AND PROVISIONS. The following basic
definitions and provisions apply to this Lease: |
|
|
|
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|
|
|
| a. |
|
Premises. |
|
Rentable Square Feet: |
|
5,328 |
|
|
|
|
| |
|
|
|
Suite: |
|
101 |
| |
|
|
|
Building: |
|
Cypress
Center II |
| |
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|
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Street
Address: |
|
5310
Cypress Center Drive |
| |
|
|
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City/County: |
|
Tampa,
Hillsborough |
| |
|
|
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State/Zip
Code: |
|
Florida / 33609
|
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|
|
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| b. |
|
Term. |
|
Number of
Months: |
|
12 |
| |
|
|
|
Commencement Date: |
|
May 1,
2004 |
| |
|
|
|
Expiration Date: |
|
April 30,
2005 |
|
|
|
| c. |
|
Permitted Use. |
|
General
office use |
| |
|
|
|
______________________________ |
|
|
|
| d. |
|
Occupancy Limitation. |
|
No more than four (4) persons per
one
thousand (1,000) rentable square
feet.
|
e. Base Rent.
The minimum base rent for the Term is $ 90,576.00 , payable
in monthly installments on the 1 st
day of each
month in accordance with the following Base Rent
Schedule:
|
|
|
|
|
|
|
|
|
|
|
MONTHS
|
|
RATE PSF
|
|
MONTHLY RENT
|
|
CUMULATIVE RENT
|
|
5/1/04 – 4/30/05
|
|
$ |
17.00 |
|
$ |
7,548.00 |
|
$ |
90,576.00 |
| |
|
|
|
|
|
BASE RENT: |
|
$ |
90,576.00 |
|
|
|
|
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| Rent Payment Address. |
|
AP
SOUTHEAST PORTFOLIO PARTNERS, L.P. |
| |
|
|
|
P.O. Box
406396 |
| |
|
|
|
Atlanta,
Georgia 30384-6396 |
| |
|
|
|
Attn:
Cypress Center II |
| |
|
|
|
Tax ID#
56-2036387 |
| |
|
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|
|
| f. |
|
Security Deposit. |
|
$
8,076.36 |
|
|
|
|
|
| |
|
5 |
|
[INITIALS GRAPHIC APPEARS HERE] |
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|
|
| g. |
|
Business Hours. |
|
8:00 A.M. to
6:00 P.M. Monday through Friday (excluding National and State
Holidays). |
|
|
|
| h. |
|
Electrical Service. |
|
No more than
three (3) watts per usable square foot for convenience
outlets. |
|
|
|
| i. |
|
After Hours HVAC Rate. |
|
$
25.00 per hour, per unit, with a minimum of two (2) hours
per occurrence. |
|
|
|
| j. |
|
Parking. |
|
Not to
exceed four (4) spaces per 1000 rentable square feet. See
Tenant Parking Agreement - Addendum Five. |
|
|
|
| k. |
|
Construction Fee. |
|
The
Construction Supervision Fee for alterations is 10% of the cost of
the work. The construction supervision fee for Tenant Improvements
is set forth in the Workletter attached as Addendum Number
One. |
|
|
|
| l. |
|
Tenant’s Broker. |
|
Coldwell Banker
Commercial
5010 West Kennedy Blvd., Second
Floor
Tampa, Florida 33609
Attn: Charles Clifton,
CCIM
|
|
|
|
| |
|
Landlord’s Broker. |
|
Highwoods/Florida GP
Corp
3111 W. Dr. Martin Luther King, Jr.
Blvd.
Suite 300
Tampa, Florida 33607
|
|
|
|
| m. |
|
Notice
Addresses. |
|
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|
| |
|
LANDLORD:
|
|
AP SOUTHEAST PORTFOLIO PARTNERS,
L.P.
3100 Smoketree Court, Suite
600
Raleigh, North Carolina 27604
Attn: Manager, Lease
Administration
Facsimile #: 919/876-2448
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with a copy to:
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HIGHWOODS/FLORIDA HOLDINGS,
LP
c/o Highwoods Properties,
Inc.
3100 Smoketree Court, Suite
600
Raleigh, North Carolina 27604
Attn: Manager, Lease
Administration
Facsimile #: 919/876-2448
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TENANT:
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ACCENTIA, INC.
5310 Cypress Center Drive, Suite
101
Tampa, Florida 33609
Attn:________________________
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a. Premises. Landlord
leases to Tenant and Tenant leases from Landlord the Premises
identified in Section 1a and as more particularly shown on
Exhibit A , attached hereto.
b. Rentable Square Foot
Determination. The parties acknowledge that all square foot
measurements are approximate and agree that the square footage
figures in Section 1a shall be conclusive for all purposes with
respect to this Lease.
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common areas generally include space
that is not included in portions of the building set aside for
leasing to tenants or reserved for Landlord’s exclusive use,
including entrances, hallways, lobbies, elevators, restrooms,
walkways and plazas (“Common Areas”). Landlord has the
exclusive right to (i) designate the Common Areas, (ii) change the
designation of any Common Area and otherwise modify the Common
Areas, and (iii) permit special use of the Common Areas, including
temporary exclusive use for special occasions. Tenant shall not
interfere with the rights of others to use the Common Areas. All
use of the Common Areas shall be subject to any rules and
regulations promulgated by Landlord.
a. Commencement and
Expiration Dates. The Lease Term commences on the Commencement
Date and expires on the Expiration Date, as set forth in Section
1b.
b. Adjustments to
Commencement Date. The Commencement Date shall be adjusted as
follows:
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i. |
If Tenant requests possession of the Premises prior to the
Commencement Date, and Landlord consents, the Commencement Date
shall be the date of possession. All rent and other obligations
under this Lease shall begin on the date of possession, but the
Expiration Date shall remain the same. |
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ii. |
If Landlord, for any reason, cannot deliver possession of the
Premises to Tenant on the Commencement Date, then the Commencement
Date, Expiration Date, and all other dates that may be affected by
their change, shall be revised to conform to the date of
Landlord’s delivery of possession of the Premises to Tenant.
Any such delay shall not relieve Tenant of its obligations under
this Lease, and neither Landlord nor Landlord’s agents shall
be liable to Tenant for any loss or damage resulting from the delay
in delivery of possession. |
c. Termination by Tenant
for Failure to Deliver Possession. In the event Landlord is
unable to deliver possession of the Premises within (90) days after
the original Commencement Date set forth in Section 1b (excluding
any delays resulting from force majeure or caused by Tenant
– “Excused Delays”), then Tenant may terminate
this Lease by giving notice to Landlord within one hundred (100)
days of the original Commencement Date (excluding Excused Delays).
Tenant may not terminate the Lease, however, if it has taken
possession of any part of the Premises.
d. Delivery of
Possession. Unless otherwise specified in the Workletter
attached as Lease Addendum Number One, “delivery of
possession” of the Premises shall mean the earlier of: (i)
the date Landlord has the Premises ready for occupancy by Tenant as
evidenced by (a) a permanent or temporary Certificate of Occupancy,
(b) a Conditional Final Inspection, or (c) a Final Inspection
issued by proper governmental authority, or (ii) the date Landlord
could have had the Premises ready had there been no Delays
attributable to Tenant.
e. Adjustment of
Expiration Date. If the Expiration Date does not occur on the
last day of a calendar month, then Landlord, at its option, may
extend the Term by the number of days necessary to cause the
Expiration Date to occur on the last day of the last calendar month
of the Term. Tenant shall pay Base Rent and Additional Rent for
such additional days at the same rate payable for the portion of
the last calendar month immediately preceding such
extension.
f. Right to Occupy.
Tenant shall not occupy the Premises until Tenant has complied with
all of the following requirements to the extent applicable under
the terms of this Lease: (i) delivery of all certificates of
insurance, (ii) payment of Security Deposit, (iii) payment of first
month’s Rent; (iv) execution and delivery of any required
Guaranty of Lease, and (v) if Tenant is an entity, receipt of a
good standing certificate from the State where it was organized and
a certificate of authority to do business in the State in which the
Premises are located (if different). Tenant’s failure to
comply with these (or any other conditions precedent to occupancy
under the terms of this Lease) shall not delay the Commencement
Date.
g. Commencement
Agreement. The Commencement Date, Term, and Expiration Date may
be set forth in a Commencement Agreement similar to Exhibit
C , attached hereto, to be prepared by Landlord and executed by
the parties.
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a. Permitted Use. The
Premises may be used only for general office purposes in connection
with Tenant’s Permitted Use as defined in Section 1c and in
accordance with the Occupancy Limitation as set forth in Section
1d.
b. Prohibited Uses.
Tenant shall not use the Premises:
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i. |
In violation of any restrictive covenants which apply to the
Premises; |
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ii. |
In any manner that constitutes a nuisance or
trespass; |
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iii. |
In any manner which increases any insurance premiums, or makes
such insurance unavailable to Landlord on the Building; provided
that, in the event of an increase in Landlord’s insurance
premiums which results from Tenant’s use of the Premises,
Landlord may elect to permit the use and charge Tenant for the
increase in premiums, and Tenant’s failure to pay Landlord,
on demand, the amount of such increase shall be an event of
default; |
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iv. |
In any manner that creates demands for electricity, heating or
air conditioning in excess of that stated in paragraph 1.(i);
or |
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v. |
For any purpose except the Permitted Use, unless consented to
by Landlord in writing. |
c. Prohibited Equipment in
Premises. Tenant shall not install any equipment in the
Premises that places unusual demands on the electrical, heating or
air conditioning systems (“High Demand Equipment”)
without Landlord’s prior written consent. No such consent
will be given if Landlord determines, in its opinion, that such
equipment may not be safely used in the Premises or that electrical
service is not adequate to support the equipment. Landlord’s
consent may be conditioned, without limitation, upon separate
metering of the High Demand Equipment and Tenant’s payment of
all engineering, equipment, installation, maintenance, removal and
restoration costs and utility charges associated with the High
Demand Equipment and the separate meter. If High Demand Equipment
used in the Premises by Tenant affect the temperature otherwise
maintained by the heating and air conditioning system, Landlord
shall have the right to install supplemental air conditioning units
in the Premises with the cost of engineering, installation,
operation and maintenance of the units to be paid by Tenant. All
costs and expenses relating to High Demand Equipment and
Landlord’s administrative costs (such as reading meters and
calculating invoices) shall be Additional Rent, payable by Tenant
upon demand.
a. Payment
Obligations. Tenant shall pay Base Rent and Additional Rent
(collectively, “Rent”) on or before the first day of
each calendar month during the Term, as follows:
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i. |
Rent payments shall be sent to the Rent Payment Address set
forth in Section 1f. |
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ii. |
Rent shall be paid without previous demand or notice and
without set off or deduction. Tenant’s obligation to pay Rent
under this Lease is completely separate and independent from any of
Landlord’s obligations under this Lease. |
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iii. |
If the Term commences on a day other than the first day of a
calendar month, then Rent for such month shall be (i) prorated for
the period between the Commencement Date and the last day of the
month in which the Commencement Date falls, and (ii) due and
payable on the Commencement Date. |
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iv. |
For each Base Rent payment Landlord receives after the fifth
(5th) day of the month, Landlord shall be entitled to all default
remedies provided under the terms of this Lease, and a late charge
in the amount of five percent (5%) of all Base Rent due for such
month. |
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v. |
If Landlord presents Tenant’s check to any bank and
Tenant has insufficient funds to pay for such check, then Landlord
shall be entitled to all default remedies provided under the terms
of this Lease and the maximum lawful bad check fee or five percent
(5%) of the amount of such check, whichever amount is
less. |
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b. Base Rent.
Tenant shall pay Base Rent as set forth in Section 1e.
c. Additional Rent. In
addition to Base Rent, Tenant shall pay as rent all sums and
charges due and payable by Tenant under this Lease
(“Additional Rent”), including, but not limited to, the
following:
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i. |
Tenant’s Proportionate Share of the increase in
Landlord’s Operating Expenses as set forth in Lease Addendum
Number Two; |
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ii. |
Any sales or use tax imposed on rents collected by Landlord or
any tax on rents in lieu of ad valorem taxes on the Building, even
though laws imposing such taxes attempt to require Landlord to pay
the same; provided, however, if any such sales or use tax are
imposed on Landlord and Landlord is prohibited by applicable law
from collecting the amount of such tax from Tenant as Additional
Rent, then Landlord, upon sixty (60) days prior notice to Tenant,
may terminate this Lease; and |
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iii. |
Any construction supervision fees in connection with the
construction of Tenant Improvements or alterations to the
Premises. |
a. Amount of Deposit.
Tenant shall deposit with Landlord a Security Deposit in the amount
set forth in Section 1g, which sum Landlord shall retain as
security for the performance by Tenant of each of its obligations
hereunder. The Security Deposit shall not bear interest.
b. Application of
Deposit. If Tenant at any time fails to perform any of its
obligations under this Lease, including its Rent or other payment
obligations, its restoration obligations, or its insurance and
indemnity obligations, then Landlord may, at its option, apply the
Security Deposit (or any portion) to cure Tenant’s default or
to pay for damages caused by Tenant’s default. If the Lease
has been terminated, then Landlord may apply the Security Deposit
(or any portion) against the damages incurred as a consequence of
Tenant’s breach. The application of the Security Deposit
shall not limit Landlord’s remedies for default under the
terms of this Lease. If Landlord depletes the Security Deposit, in
whole or in part, prior to the Expiration Date or any termination
of this Lease, then Tenant shall restore immediately the amount so
used by Landlord.
c. Refund of Deposit.
Unless Landlord uses the Security Deposit to cure a default of
Tenant, to pay damages for Tenant’s breach of the Lease, or
to restore the Premises to the condition to which Tenant is
required to leave the Premises upon the expiration or any
termination of the Lease, then Landlord shall, within thirty (30)
days after the Expiration Date or any termination of this Lease,
refund to Tenant any funds remaining in the Security Deposit.
Tenant may not credit the Security Deposit against any
month’s Rent.
a. Base
Services. Provided that Tenant is not then in default,
Landlord shall cause to be furnished to the Building, or as
applicable, the Premises, in common with other tenants the
following services:
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i. |
Water (if available from city mains) for drinking, lavatory and
toilet purposes. |
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ii. |
Electricity (if available from the utility supplier) for the
building standard fluorescent lighting and for the operation of
general office machines, such as electric typewriters, desk top
computers, dictating equipment, adding machines and calculators,
and general service non-production type office copy machines;
provided that Landlord shall have no obligation to provide more
than the amount of power for convenience outlets and the number of
electrical circuits as set forth in Section 1i. |
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iii. |
Operatorless elevator service. |
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iv. |
Building standard fluorescent lighting fixtures; Tenant shall
service, replace and maintain at its own expense any incandescent
fixtures, table lamps, or lighting other than the building standard
fluorescent light, and any dimmers or lighting controls other than
controls for the building standard fluorescent
lighting. |
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v. |
Heating and air conditioning for the reasonably comfortable use
and occupancy of the Premises during Business Hours as set forth in
Section 1h; provided that, heating and cooling conforming to any
governmental regulation prescribing limitations thereon shall be
deemed to comply with this service. |
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vi. |
After Business Hours, weekend and holiday heating and air
conditioning at the After Hours HVAC rate set forth in Section 1j,
with such charges subject to commercially reasonable annual
increases as determined by Landlord. |
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vii. |
Janitorial services five (5) days a week (excluding National
and State holidays) after Business Hours. |
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viii. |
A reasonable pro-rata share of the unreserved parking spaces of
the Building, not to exceed the Parking specified in Section 1k,
for use by Tenant’s employees and visitors in common with the
other tenants and their employees and visitors. |
b. Landlord’s
Maintenance. Landlord shall make all repairs and replacements
to the Building (including Building fixtures and equipment), Common
Areas and Building Standard Improvements in the Premises, except
for repairs and replacements that Tenant must make under Section 8.
Landlord’s maintenance shall include the roof, foundation,
exterior walls, interior structural walls, all structural
components, and all Building systems, such as mechanical,
electrical, HVAC, and plumbing. Repairs or replacements shall be
made within a reasonable time (depending on the nature of the
repair or replacement needed) after receiving notice from Tenant or
Landlord having actual knowledge of the need for a repair or
replacement.
c. No Abatement .
There shall be no abatement or reduction of Rent by reason of any
of the foregoing services not being continuously provided to
Tenant. Landlord shall have the right to shut down the Building
systems (including electricity and HVAC systems) for required
maintenance and safety inspections, and in cases of
emergency.
d. Tenant’s
Obligation to Report Defects. Tenant shall report to Landlord
immediately any defective condition in or about the Premises known
to Tenant and if such defect is not so reported and such failure to
promptly report results in other damage, Tenant shall be liable for
same.
e. Limitation on
Landlord’s Liability. Landlord shall not be liable to
Tenant for any damage caused to Tenant and its property due to the
Building or any part or appurtenance thereof being improperly
constructed or being or becoming out of repair, or arising from the
leaking of gas, water, sewer or steam pipes, or from problems with
electrical service.
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8. |
TENANT’S ACCEPTANCE AND MAINTENANCE OF
PREMISES. |
a. Acceptance of
Premises . Subject to the terms of the attached Workletter, if
any, Tenant’s occupancy of the Premises is Tenant’s
representation to Landlord that (i) Tenant has examined and
inspected the Premises, (ii) finds the Premises to be as
represented by Landlord and satisfactory for Tenant’s
intended use, and (iii) constitutes Tenant’s acceptance of
the Premises “as is”. Landlord makes no representation
or warranty as to the condition of the Premises except as may be
specifically set forth in the Workletter.
b. Move-In
Obligations. Tenant shall schedule its move-in with the
Landlord’s Property Manager. Unless otherwise approved by
Landlord’s Property Manager, move-in shall not take place
during Business Hours. During Tenant’s move-in, a
representative of Tenant must be on-site with Tenant’s moving
company to insure proper treatment of the Building and the
Premises. Elevators, entrances, hallways and other Common Areas
must remain in use for the general public during business hours.
Any specialized use of elevators or other Common Areas must be
coordinated with Landlord’s Property Manager. Tenant must
properly dispose of all packing material and refuse in accordance
with the Rules and Regulations. Any damage or destruction to the
Building or the Premises due to moving will be the sole
responsibility of Tenant.
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c. Tenant’s
Maintenance. Tenant shall: (i) keep the Premises and fixtures
in good order; (ii) make repairs and replacements to the Premises
or Building needed because of Tenant’s misuse or negligence;
(iii) repair and replace Non-Standard Improvements, including any
special equipment or decorative treatments, installed by or at
Tenant’s request that serve the Premises (unless the Lease is
ended because of casualty loss or condemnation); and (iv) not
commit waste.
d. Alterations to
Premises. Tenant shall make no structural or interior
alterations to the Premises. If Tenant requests such alterations,
then Tenant shall provide Landlord’s Property Manager with a
complete set of construction drawings. If Landlord consents to the
alterations, then the Property Manager shall determine the actual
cost of the work to be done (to include a construction supervision
fee to be paid to Landlord in the amount set forth in Section
(Illegible). Tenant may then either agree to pay Landlord to have
the work done or withdraw its request for alterations. All such
alterations are subject to the prior written approval of
Landlord.
e. Restoration of
Premises. At the expiration or earlier termination of this
Lease, Tenant shall (i) deliver each and every part of the Premises
in good repair and condition, ordinary wear and tear and damage by
insured casualty excepted, and (ii) restore the Premises at
Tenant’s sole expense to the same condition as existed at the
Commencement Date, ordinary wear and tear and damage by insured
casualty excepted. If Tenant has required or installed Non-Standard
Improvements, such improvements shall be removed as part of
Tenant’s restoration obligation. Landlord, however, may elect
to require Tenant to leave any Non-Standard Improvements in the
Premises unless at the time of such Non-Standard Improvements were
installed, Landlord agreed in writing that Tenant could remove such
improvements. Tenant shall repair any damage caused by the removal
of any Non- Standard Improvements. “Non-Standard
Improvements” means such items as (i) High Demand Equipment
and separate meters, (ii) all wiring and cabling from the point of
origin to the termination point, (iii) raised floors for computer
or communications systems, (iv) telephone equipment, security
systems, and UPS systems, (iv) equipment racks, (v) alterations
installed by or at the request of Tenant after the Commencement
Date, and (vi) any other improvements that are not part of the
Building Standard Improvements.
f. Landlord’s
Performance of Tenant’s Obligations. If Tenant does not
perform its maintenance or restoration obligations in a timely
manner, commencing the same within five (5) days after receipt of
notice from Landlord specifying the work needed, and thereafter
diligently and continuously pursuing the work until completion,
then Landlord shall have the right, but not the obligation, to
perform such work. Any amounts expended by Landlord on such
maintenance or restoration shall be Additional Rent to be paid by
Tenant to Landlord within thirty (30) days after demand.
g. Construction Liens.
Tenant shall have no power to do any act or make any contract that
may create or be the foundation of any lien, mortgage or other
encumbrance upon the reversionary or other estate of Landlord, or
any interest of Landlord in the Premises. NO CONSTRUCTION LIENS OR
OTHER LIENS FOR ANY LABOR, SERVICES OR MATERIALS FURNISHED TO THE
PREMISES SHALL ATTACH TO OR AFFECT THE INTEREST OF LANDLORD IN AND
TO THE PREMISES OR THE BUILDING. Tenant shall keep the Premises and
the Building free from any liens arising out of any work performed,
materials furnished, or obligations incurred by or on behalf of
Tenant. Should any lien or claim of lien be filed against the
Premises or the Building by reason of any act or omission of Tenant
or any of Tenant’s agents, employees, contractors or
representatives, then Tenant shall cause the same to be canceled
and discharged of record by bond or otherwise within ten (10) days
after the filing thereof. Should Tenant fail to discharge the lien
within ten (10) days, then Landlord may discharge the lien. The
amount paid by Landlord to discharge the lien (whether directly or
by bond), plus all administrative and legal costs incurred by
Landlord, shall be Additional Rent payable on demand. The remedies
provided herein shall be in addition to all other remedies
available to Landlord under this Lease or otherwise.
TENANT SHALL NOTIFY ANY
CONTRACTOR PERFORMING ANY CONSTRUCTION WORK IN THE PREMISES ON
BEHALF OF TENANT THAT THIS LEASE SPECIFICALLY PROVIDES THAT THE
INTEREST OF LANDLORD IN THE PREMISES SHALL NOT BE SUBJECT TO LIENS
FOR IMPROVEMENTS MADE BY TENANT, AND NO MECHANIC’S LIEN OR
OTHER LIEN FOR ANY SUCH LABOR, SERVICES, MATERIALS, SUPPLIES,
MACHINERY, FIXTURES OR EQUIPMENT SHALL ATTACH TO OR AFFECT THE
STATE OR INTEREST OF LANDLORD IN AND TO THE PREMISES, THE BUILDING,
OR ANY PORTION THEREOF. IN ADDITION, LANDLORD SHALL HAVE THE RIGHT
TO POST AND KEEP POSTED AT ALL REASONABLE TIMES ON THE PREMISES AND
NOTICES WHICH LANDLORD SHALL BE REQUIRED SO TO POST FOR THE
PROTECTION OF
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LANDLORD AND THE PREMISES FROM ANY SUCH
LIEN. TENANT AGREES TO PROMPTLY EXECUTE SUCH INSTRUMENTS IN
RECORDABLE FORM IN ACCORDANCE WITH THE TERMS AND PROVISIONS OF
FLORIDA STATUTE SECTION 713.10.
h. Communications
Compliance. Tenant acknowledges and agrees that any and all
telephone and telecommunication services desired by Tenant shall be
ordered and utilized at the sole expense of Tenant. Unless Landlord
requests otherwise or consents in writing, all of Tenant’s
telecommunications equipment shall be located and remain solely in
the Premises. Landlord shall not have any responsibility for the
maintenance of Tenant’s telecommunications equipment,
including wiring; nor for any wiring or other infrastructure to
which Tenant’s telecommunications equipment may be connected.
Tenant agrees that, to the extent any telecommunications service is
interrupted, curtailed or discontinued, Landlord shall have no
obligation or liability with respect thereto. Landlord shall have
the right, upon reasonable prior oral or written notice to Tenant,
to interrupt or turn off telecommunications facilities in the event
of emergency or as necessary in connection with repairs to the
Building or installation of telecommunications equipment for other
tenants of the Building. In the event that Tenant wishes at any
time to utilize the services of a telephone or telecommunications
provider whose equipment is not then servicing the Building, the
provider shall not be permitted to install its lines or other
equipment within the Building without first securing the prior
written approval of Landlord. Landlord’s approval may be
conditioned in such a manner as to protect Landlord’s
financial interests, the interest of the Building, and the other
tenants therein. The refusal of Landlord to grant its approval to
any prospective telecommunications provider shall not be deemed a
default or breach by Landlord of its obligation under this Lease.
The provision of this paragraph may be enforced solely by Tenant
and Landlord, are not for the benefit of any other party, and
specifically but without limitation, no telephone or
telecommunications provider shall be deemed a third party
beneficiary of this Lease. Tenant shall not utilize any wireless
communications equipment (other than usual and customary cellular
telephones), including antennae and satellite receiver dishes,
within the Premises or the Building, without Landlord’s prior
written consent. Landlord’s consent may be conditioned in
such a manner so as to protect Landlord’s financial
interests, the interests of the Building, and the other tenants
therein. At Landlord’s option, Tenant may be required to
remove any and all telecommunications equipment (including wireless
equipment) installed in the Premises or elsewhere in or on the
Building by or on behalf of Tenant, including wiring, or other
facilities for telecommunications transmittal prior to the
expiration or termination of the Lease and at Tenant’s sole
cost.
a. Property Taxes.
Tenant shall pay when due all taxes levied or assessed upon
Tenant’s equipment, fixtures, furniture, leasehold
improvements and personal property located in the
Premises.
b. Removal. Provided
Tenant is not in default, Tenant may remove all fixtures and
equipment which it has placed in the Premises; provided, however,
Tenant must repair all damages caused by such removal. If Tenant
does not remove its property from the Premises upon the expiration
or earlier termination (for whatever cause) of this Lease, such
property shall be deemed abandoned by Tenant, and Landlord may
dispose of the same in whatever manner Landlord may elect without
any liability to Tenant.
10. SIGNS.
Tenant may not erect, install or display any sign or advertising
material upon the exterior of the Building or Premises (including
any exterior doors, walls or windows) without the prior written
consent of Landlord, which consent may be withheld in
Landlord’s sole discretion. Door and directory signage shall
be provided and installed by the Landlord in accordance with
building standards at Tenant’s expense, unless otherwise
provided in the Workletter attached as Lease Addendum Number
One.
a. Tenant’s
Access. Tenant, its agents, employees, invitees, and guests,
shall have access to the Premises and reasonable ingress and egress
to common and public areas of the Building twenty-four hours a day,
seven days a week; provided, however, Landlord by reasonable
regulation may control such access for the comfort, convenience,
safety and protection of all tenants in the Building, or as needed
for making repairs and alterations. Tenant shall be responsible for
providing access to the Premises to its agents, employees, invitees
and guests after business hours and on weekends and holidays, but
in no event shall Tenant’s use of and access to the Premises
during non-business hours compromise the security of the
Building.
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b. Landlord’s
Access. Landlord shall have the right, at all reasonable times
and upon reasonable oral notice, either itself or through its
authorized agents, to enter the Premises (i) to make repairs,
alterations or changes as Landlord deems necessary, (ii) to inspect
the Premises, mechanical systems and electrical devices, and (iii)
to show the Premises to prospective mortgagees and purchasers.
Within three hundred sixty five (365) days prior to the Expiration
Date, Landlord shall have the right, either itself or through its
authorized agents, to enter the Premises at all reasonable times to
show prospective tenants.
c. Emergency Access.
Landlord shall have the right to enter the Premises at any time
without notice in the event of an emergency.
a. Laws . Tenant shall
comply with all applicable laws, ordinances and regulations
affecting the Premises, whether now existing or hereafter
enacted.
b. Rules and
Regulations. Tenant shall comply with the Rules and Regulations
attached as Exhibit B. The Rules and Regulations may be
modified from time to time by Landlord, effective as of the date
delivered to Tenant or posted on the Premises, provided such rules
are uniformly applicable to all tenants in the Building. Any
conflict between this Lease and the Rules and Regulations shall be
governed by the terms of this Lease.
a. Tenant’s
Compliance. Tenant, at Tenant’s sole expense, shall
comply with all laws, rules, orders, ordinances, directions,
regulations and requirements of federal, state, county and
municipal authorities now in force, which shall impose any duty
upon Landlord or Tenant with respect to the use or occupation of
the Premises or alteration of the Premises to accommodate persons
with special needs, including using all reasonable efforts to
comply with The Americans With Disabilities Act (the
“ADA”).
b. Landlord’s
Compliance. Landlord, at Landlord’s sole expense, shall
use all reasonable efforts to meet the requirements of the ADA as
it applies to the Common Areas and restrooms of the Building; but
Landlord shall have no responsibility for ADA compliance with
respect to the Premises. Landlord shall not be required to make
changes to the Common Areas or restrooms of the Building to comply
with ADA standards adopted after construction of the Building
unless specifically required to do so by law.
c. ADA Notices. If
Tenant receives any notices alleging a violation of ADA relating to
any portion of the Building or Premises (including any governmental
or regulatory actions or investigations regarding non-compliance
with ADA), then Tenant shall notify Landlord in writing within ten
(10) days of such notice and provide Landlord with copies of any
such notice.
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14. |
INSURANCE REQUIREMENTS. |
a. Tenant’s
Liability Insurance . Throughout the Term, Tenant, at its sole
cost and expense, shall keep or cause to be kept for the mutual
benefit of Landlord, Landlord’s Property Manager, and Tenant,
Commercial General Liability Insurance (ISO CGL Form CG0001 or its
equivalent) with a combined single limit, each Occurrence and
General Aggregate-per location of at least TWO MILLION DOLLARS
($2,000,000), which policy shall insure against liability of
Tenant, arising out of and in connection with Tenant’s use of
the Premises, and which shall insure the indemnity provisions
contained in this Lease. Not more frequently than once every three
(3) years, Landlord may require the limits to be increased if in
its reasonable judgment (or that of its mortgagee) the coverage is
insufficient.
b. Tenant’s Property
Insurance. Tenant shall also carry the equivalent of ISO
Special Form Property Insurance on Tenant’s Property for full
replacement value and with coinsurance waived. For purposes of this
provision, “Tenant’s Property” shall mean
Tenant’s personal property and fixtures, and any Non-Standard
improvements to the Premises. Tenant shall neither have, nor make,
any claim against Landlord for any loss or damage to the
Tenant’s Property, regardless of the cause of the loss or
damage.
c. Certificates of
Insurance. Prior to taking possession of the Premises, and
annually thereafter, Tenant shall deliver to Landlord certificates
or other evidence of insurance satisfactory to Landlord. All such
policies shall
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be non-assessable and shall contain
language to the extent obtainable that: (i) any loss shall be
payable notwithstanding any act or negligence of Landlord or Tenant
that might otherwise result in forfeiture of the insurance, (ii)
that the policies are primary and non-contributing with any
insurance that Landlord may carry, and (iii) that the policies
cannot be canceled, non-renewed, or coverage reduced except after
thirty (30) days’ prior notice to Landlord. If Tenant fails
to provide Landlord with such certificates or other evidence of
insurance coverage, Landlord may obtain such coverage and the cost
of such coverage shall be Additional Rent payable by Tenant upon
demand.
d. Insurance Policy
Requirements. Tenant’s insurance policies required by
this Lease shall: (i) be issued by insurance companies licensed to
do business in the state in which the Premises are located with a
general policyholder’s ratings of at least A- and a financial
rating of at least VI in the most current Best’s Insurance
Reports available on the Commencement Date, or if the Best’s
ratings are changed or discontinued, the parties shall agree to a
comparable method of rating insurance companies; (ii) name Landlord
and current or future Mortgagee as an additional insured as its
interest may appear [other landlords or tenants may be added as
additional insureds in a blanket policy]; (iii) provide that the
insurance not be canceled, non-renewed or coverage materially
reduced unless thirty (30) days advance notice is given to
Landlord; (iv) be primary policies; (v) provide that any loss shall
be payable notwithstanding any gross negligence of Landlord or
Tenant which might result in a forfeiture thereunder of such
insurance or the amount of proceeds payable; (vi) have no
deductible exceeding TEN THOUSAND DOLLARS ($10,000), unless
approved in writing by Landlord; and (vii) be maintained during the
entire Term and any extension terms.
e. Landlord’s
Property Insurance. Landlord shall keep the Building, including
the improvements (but excluding Tenant’s Property), insured
against damage and destruction by perils insured by the equivalent
of ISO Special Form Property Insurance in the amount of the full
replacement value of the Building.
f. Mutual Waiver of
Subrogation. Anything in this Lease to the contrary
notwithstanding, Landlord hereby releases and waives unto Tenant
(including all partners, stockholders, officers, directors,
employees and agents thereof), its successors and assigns, and
Tenant hereby releases and waives unto Landlord (including all
partners, stockholders, officers, directors, employees and agents
thereof), its successors and assigns, all rights to claim damages
for any injury, loss, cost or damage to persons or to the Premises
or any other casualty, as long as the amount of such injury, loss,
cost or damage has been paid either to Landlord, Tenant, or any
other person, firm or corporation, under the terms of any Property,
General Liability, or other policy of insurance, to the extent such
releases or waivers are permitted under applicable law. As respects
all policies of insurance carried or maintained pursuant to this
Lease and to the extent permitted under such policies, Tenant and
Landlord each waive the insurance carriers’ rights of
subrogation.
15. INDEMNITY.
Subject to the insurance requirements, releases and mutual waivers
of subrogation set forth in this Lease, Tenant agrees as
follows:
a. Indemnity. Tenant
shall indemnify and hold Landlord harmless from and against any and
all claims, damages, losses, liabilities, lawsuits, costs and
expenses (including attorneys’ fees at all tribunal levels)
arising out of or related to (i) any activity, work, or other thing
done, permitted or suffered by Tenant in or about the Premises or
the Building, (ii) any breach or default by Tenant in the
performance of any of its obligations under this Lease, or (iii)
any act or neglect of Tenant, or any officer, agent, employee,
contractor, servant, invitee or guest of Tenant.
b. Defense Obligation.
If any such action is brought against Landlord, then Tenant, upon
notice from Landlord, shall defend the same through counsel
selected by Landlord’s insurer, or other counsel acceptable
to Landlord. The provisions of this Section shall survive the
termination of this Lease.
16. QUIET
ENJOYMENT. Tenant shall have quiet enjoyment and possession of
the Premises provided Tenant promptly and fully complies with all
of its obligations under this Lease. No action of Landlord or other
tenants working in other space in the Building, or in repairing or
restoring the Premises, shall be deemed a breach of this covenant,
nor shall such action give to Tenant any right to modify this Lease
either as to term, rent payables or other obligations to be
performed.
17. SUBORDINATION;
ATTORNMENT; NON-DISTURBANCE; AND ESTOPPEL
CERTIFICATE.
a. Subordination and
Attornment. Tenant agrees to execute within ten (10) days after
request to do so from Landlord or its mortgagee an
agreement:
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i. |
Making this Lease superior or subordinate to the interests of
the mortgagee; |
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ii. |
Agreeing to attorn to the mortgagee; |
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iii. |
Giving the mortgagee notice of, and a reasonable opportunity
(which shall in no event be less than thirty (30) days after notice
thereof is delivered to mortgagee) to cure any Landlord default and
agreeing to accept such cure if effected by the
mortgagee; |
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iv. |
Permitting the mortgagee (or other purchaser at any foreclosure
sale), and its successors and assigns, on acquiring
Landlord’s interest in the Premises and the Lease, to become
substitute Landlord hereunder, with liability only for such
Landlord obligations as accrue after Landlord’s interest is
so acquired; |
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v. |
Agreeing to attorn to any successor Landlord; and |
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vi. |
Containing such other agreements and covenants on
Tenant’s part as Landlord’s mortgagee may reasonably
request. |
b. Non-Disturbance.
Tenant’s obligation to subordinate its interests or attorn to
any mortgagee is conditioned upon the mortgagee’s agreement
not to disturb Tenant’s possession and quiet enjoyment of the
Premises under this Lease so long as Tenant is in compliance with
the terms of the Lease.
c. Estoppel
Certificates. Tenant agrees to execute within five (5) business
days after request, and as often as requested, estoppel
certificates confirming any factual matter requested by Landlord
which is true and is within Tenant’s knowledge regarding this
Lease, and the Premises, including but not limited to: (i) the date
of occupancy, (ii) Expiration Date, (iii) the amount of Rent due
and date to which Rent is paid, (iii) whether Tenant has any
defense or offsets to the enforcement of this Lease or the Rent
payable, (iv) any default or breach by Landlord, and (v) whether
this Lease, together with any modifications or amendments, is in
full force and effect. Tenant shall at
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