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OFFICE LEASE TABLE OF CONTENTS TABLE OF CONTENTS

Office Lease Agreement

OFFICE LEASE TABLE OF CONTENTS TABLE OF CONTENTS | Document Parties: ACCENTIA, INC | AP GP Southeast Portfolio Partners | AP SOUTHEAST PORTFOLIO PARTNERS, LP | Highwoods Realty GP Corp You are currently viewing:
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ACCENTIA, INC | AP GP Southeast Portfolio Partners | AP SOUTHEAST PORTFOLIO PARTNERS, LP | Highwoods Realty GP Corp

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Title: OFFICE LEASE TABLE OF CONTENTS TABLE OF CONTENTS

OFFICE LEASE TABLE OF CONTENTS TABLE OF CONTENTS, Parties: accentia  inc , ap gp southeast portfolio partners , ap southeast portfolio partners  lp , highwoods realty gp corp
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Exhibit 10.16

 

AP SOUTHEAST PORTFOLIO PARTNERS, L.P.

(“Landlord”)

 

and

 

ACCENTIA, INC.

(“Tenant”)

 

OFFICE LEASE

 


TABLE OF CONTENTS

 

Section 1:

   Basic Definitions and Provisions     
     a.   

Premises

   -5-
     b.   

Term

   -5-
     c.   

Permitted Use

   -5-
     d.   

Occupancy Limitation

   -5-
     e.   

Base Rent

   -5-
     f.   

Rent Payment Address

   -5-
     g.   

Security Deposit

   -6-
     h.   

Business Hours.

   -6-
     i.   

Electrical Service

   -6-
     j.   

After Hours HVAC Rate

   -6-
     k.   

Parking

   -6-
     l.   

Construction Fee

   -6-
     m.   

Broker

   -6-
     n.   

Notice Addresses

   -6-

Section 2.

   Leased Premises     
     a.   

Premises

   -7-
     b.   

Rentable Square Foot Determination

   -7-
     c.   

Common Areas

   -7-

Section 3:

   Term     
     a.   

Commencement and Expiration Dates

   -7-
     b.   

Adjustments to Commencement Date

   -7-
     c.   

Termination by Tenant for Failure to Deliver Possession

   -7-
     d.   

Delivery of Possession

   -7-
     e.   

Adjustment of Expiration Date

   -7-
     f.   

Right to Occupy

   -8-
     g.   

Commencement Agreement

   -8-

Section 4:

   Use     
     a.   

Permitted Use

   -8-
     b.   

Prohibited Uses

   -8-
     c.   

Prohibited Equipment in Premises

   -8-

Section 5:

   Rent     
     a.   

Payment Obligations

   -8-
     b.   

Base Rent

   -9-
     c.   

Additional Rent

   -9-

Section 6:

   Security Deposit     
     a.   

Amount of Deposit

   -9-
     b.   

Application of Deposit

   -9-
     c.   

Refund of Deposit

   -10-

Section 7:

   Services by Landlord     
     a.   

Base Services

   -10-
     b.   

Landlord’s Maintenance

   -10-
     c.   

No Abatement.

   -11-
     d.   

Tenant’s Obligation to Report Defects

   -11-
     e.   

Limitation on Landlord’s Liability

   -11-

Section 8:

   Tenant’s Acceptance and Maintenance of Premises     
     a.   

Acceptance of Premises

   -11-

 

 

    1   [INITIALS GRAPHIC APPEARS HERE]

 


     b.   

Move-in Obligations

   -11-
     c.   

Tenant’s Maintenance

   -11-
     d.   

Alterations to Premises.

   -11-
     e.   

Restoration of Premises

   -11-
     f.   

Landlord’s Performance of Tenant’s Obligations

   -12-
     g.   

Construction Liens

   -12-
     h.   

Communications Compliance

   -12-

Section 9:

   Property of Tenant     
     a.   

Property Taxes

   -13-
     b.   

Removal.

   -13-

Section 10:

   Signs    -13-

Section 11:

   Access to Premises     
     a.   

Tenant’s Access

   -13-
     b.   

Landlord’s Access

   -13-
     c.   

Emergency Access

   -13-

Section 12:

   Tenant’s Compliance     
     a.   

Laws

   -13-
     b.   

Rules and Regulations

   -14-

Section 13:

   ADA Compliance     
     a.   

Tenant’s Compliance

   -14-
     b.   

Landlord’s Compliance

   -14-
     c.   

ADA Notices

   -14-

Section 14:

   Insurance Requirements     
     a.   

Tenant’s Liability Insurance

   -14-
     b.   

Tenant’s Property Insurance

   -14-
     c.   

Certificates of Insurance

   -14-
     d.   

Insurance Policy Requirements

   -14-
     e.   

Landlord’s Property Insurance

   -15-
     f.   

Mutual Waiver of Subrogation

   -15-

Section 15:

   Indemnity     
     a.   

Indemnity

   -15-
     b.   

Defense Obligation

   -15-

Section 16:

   Quiet Enjoyment.    -15-

Section 17:

   Subordination; Attornment; Non-Disturbance; and Estoppel Certificate     
     a.   

Subordination and Attornment.

   -15-
     b.   

Non-Disturbance

   -16-
     c.   

Estoppel Certificates

   -16-

Section 18:

   Assignment – Sublease     
     a.   

Landlord Consent

   -16-
     b.   

Definition of Assignment

   -16-
     c.   

Permitted Assignments/Subleases

   -17-
     d.   

Notice to Landlord

   -17-
     e.   

Prohibited Assignments/Sublease

   -17-
     f.   

Limitation on Rights of Assignee/Sublessee

   -17-
     g.   

Tenant Not Released

   -17-
     h.   

Landlord’s Right to Collect Sublease Rents Upon Tenant Default

   -17-
     i.   

Excess Rents

   -17-
     j.   

Landlord’s Fees

   -17-
     k.   

Unauthorized Assignment or Sublease

   -17-

Section 19:

   Damages to Premises     
     a.   

Landlord’s Restoration Obligations

   -17-

 

    2   [INITIALS GRAPHIC APPEARS HERE]

 


     b.   

Termination of Lease by Landlord

   -18-
     c.   

Termination of Lease by Tenant

   -18-
     d.   

Tenant’s Restoration Obligations

   -18-
     e.   

Rent Abatement

   -18-
     f.   

Waiver of Claims

   -18-

Section 20:

   Eminent Domain     
     a.   

Effect on Lease

   -18-
     b.   

Right to Condemnation Award

   -19-

Section 21:

   Environmental Compliance     
     a.   

Environmental Laws

   -19-
     b.   

Tenant’s Responsibility

   -19-
     c.   

Tenant’s Liability

   -19-
     d.   

Limitation on Tenant’s Liability

   -19-
     e.   

Inspections by Landlord

   -20-
     f.   

Landlord’s Liability

   -20-
     g.   

Property

   -20-
     h.   

Tenant’s Liability after Termination of Lease

   -20-

Section 22:

   Default     
     a.   

Tenant’s Default

   -20-
     b.   

Landlord’s Remedies

   -20-
     c.   

Landlord’s Expenses

   -21-
     d.   

Remedies Cumulative

   -21-
     e.   

No Accord and Satisfaction

   -21-
     f.   

No Reinstatement

   -21-
     g.   

Summary Ejectment.

   -21-

Section 23:

   Multiple Defaults     
     a.   

Loss of Option Rights

   -21-
     b.   

Increased Security Deposit

   -22-
     c.   

Effect on Notice Rights and Cure Periods

   -22-

Section 24:

   Bankruptcy     
     a.   

Trustee’s Rights

   -22-
     b.   

Adequate Assurance

   -22-
     c.   

Assumption of Lease Obligations

   -22-

Section 25:

   Notices     
     a.   

Addresses

   -22-
     b.   

Form; Delivery; Receipt

   -22-
     c.   

Address Changes

   -23-
     d.   

Notice by Legal Counsel

   -23-

Section 26:

   Holding Over    -23-

Section 27:

   Right to Relocate     
     a.   

Substitute Premises

   -23-
     b.   

Notice

   -23-
     c.   

Upfit of Substitute Premises

   -23-
     d.   

Relocation Costs

   -23-
     e.   

Lease Terms

   -23-
     f.   

Limitation on Landlord’s Liability

   -24-

Section 28:

   Broker’s Commissions     
     a.   

Broker

   -24-
     b.   

Landlord’s Obligation

   -24-
     c.   

Indemnity

   -24-

 

    3   [INITIALS GRAPHIC APPEARS HERE]

 


Section 29:

   Miscellaneous     
     a.   

No Agency

   -24-
     b.   

Force Majeure

   -24-
     c.   

Building Standard Improvements

   -24-
     d.   

Limitation on Damages

   -24-
     e.   

Satisfaction of Judgments Against Landlord.

   -24-
     f.   

Interest

   -24-
     g.   

Legal Costs

   -25-
     h.   

Sale of Premises or Building

   -25-
     i.   

Time of the Essence

   -25-
     j.   

Transfer of Security Deposit

   -25-
     k.   

Tender of Premises

   -25-
     l.   

Tenant’s Financial Statements

   -25-
     m.   

Recordation

   -25-
     n.   

Partial Invalidity

   -25-
     o.   

Binding Effect

   -25-
     p.   

Entire Agreement

   -25-
     q.   

Good Standing.

   -25-
     r.   

Terminology

   -25-
     s.   

Headings

   -26-
     t   

Choice of Law

   -26-
     u.   

Effective Date

   -26-
     v.   

Interlineation

   -26-

Section 30:

   Special Conditions    -26-

Section 31:

   Addenda and Exhibits    -26-
     a.   

Lease Addendum Number One – “Work Letter”

    
     b.   

Lease Addendum Number Two – “Additional Rent – Operating Expense Pass Throughs”

    
     c.   

Lease Addendum Number Three – INTENTIONALLY OMITTED

    
     d.   

Lease Addendum Number Four – INTENTIONALLY OMITTED

    
     e.   

Lease Addendum Number Five – “Tenant Parking Agreement”

    
     f.   

Lease Addendum Number Six – “Radon”

    
     g.   

Exhibit A – Premises

    
     h.   

Exhibit B – Rules and Regulations

    
     i.   

Exhibit C – Commencement Agreement

    

 

 

    4   [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:

 

a.   Premises.    Rentable Square Feet:    5,328
         Suite:    101
         Building:    Cypress Center II
         Street Address:    5310 Cypress Center Drive
         City/County:    Tampa, Hillsborough
         State/Zip Code:   

Florida / 33609

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

 

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
         
f.   Security Deposit.   $ 8,076.36

 

    5   [INITIALS GRAPHIC APPEARS HERE]

 


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.     
    

LANDLORD:

  

AP SOUTHEAST PORTFOLIO PARTNERS, L.P.

3100 Smoketree Court, Suite 600

Raleigh, North Carolina 27604

Attn: Manager, Lease Administration

Facsimile #: 919/876-2448

    

with a copy to:

  

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

    

TENANT:

  

ACCENTIA, INC.

5310 Cypress Center Drive, Suite 101

Tampa, Florida 33609

Attn:________________________

 

  2. LEASED PREMISES.

 

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.

 

    6   [INITIALS GRAPHIC APPEARS HERE]

 


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.

 

  3. TERM.

 

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:

 

  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.

 

  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.

 

    7   [INITIALS GRAPHIC APPEARS HERE]

 


  4. USE.

 

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:

 

  i. In violation of any restrictive covenants which apply to the Premises;

 

  ii. In any manner that constitutes a nuisance or trespass;

 

  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;

 

  iv. In any manner that creates demands for electricity, heating or air conditioning in excess of that stated in paragraph 1.(i); or

 

  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.

 

  5. RENT.

 

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:

 

  i. Rent payments shall be sent to the Rent Payment Address set forth in Section 1f.

 

  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.

 

  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.

 

  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.

 

  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.

 

    8   [INITIALS GRAPHIC APPEARS HERE]

 


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:

 

  i. Tenant’s Proportionate Share of the increase in Landlord’s Operating Expenses as set forth in Lease Addendum Number Two;

 

  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

 

  iii. Any construction supervision fees in connection with the construction of Tenant Improvements or alterations to the Premises.

 

  6. SECURITY DEPOSIT.

 

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.

 

  7. SERVICES BY LANDLORD.

 

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:

 

  i. Water (if available from city mains) for drinking, lavatory and toilet purposes.

 

  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.

 

  iii. Operatorless elevator service.

 

    9   [INITIALS GRAPHIC APPEARS HERE]

 


  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.

 

  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.

 

  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.

 

  vii. Janitorial services five (5) days a week (excluding National and State holidays) after Business Hours.

 

  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.

 

  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.

 

  9. PROPERTY OF TENANT.

 

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.

 

  11. ACCESS TO PREMISES.

 

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.

 

  12. TENANT’S COMPLIANCE.

 

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.

 

  13. ADA COMPLIANCE.

 

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.

 

  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

 

 

    13   [INITIALS GRAPHIC APPEARS HERE]

 


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:

 

  i. Making this Lease superior or subordinate to the interests of the mortgagee;

 

    14   [INITIALS GRAPHIC APPEARS HERE]

 


  ii. Agreeing to attorn to the mortgagee;

 

  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;

 

  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;

 

  v. Agreeing to attorn to any successor Landlord; and

 

  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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