Common use of Landlord Improvements Clause in Contracts

Landlord Improvements. (a) On the Commencement Date, Landlord will deliver the Leased Premises to Tenant in a broom clean condition, and, along with the lighting, electrical (excluding the UPS system and the diesel generator), mechanical and plumbing fixtures, plumbing systems, dock doors and HVAC servicing the Leased Premises, hot water, doors and plate-glass, will be delivered to Tenant in good condition and repair, as defined in Section 5.05 above. (b) After receipt of the Letter of Credit and any required building permit, Landlord will commence and diligently pursue to completion, the construction of the improvements to the Leased Premises (the “Landlord Improvements”), in accordance with plans and specifications as shown in Exhibit B, subject to approval by local regulatory authorities (the “Plans”), which Plans are made a part of this Lease by reference. Any changes or modifications to the Plans must be made and accepted by written change order or agreement signed by Landlord and Tenant and will constitute an amendment to this Lease. Any Landlord Improvements made by Landlord are the property of Landlord and must be surrendered to Landlord upon the termination of this Lease without credit to Tenant. Upon completion of any Landlord Improvements and issuance of a final certificate of occupancy (to be applied for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant that all Landlord Improvements have been completed in accordance with the Plans (the “General Contractor’s Certificate”), thereafter Landlord shall provide and Tenant shall acknowledge receipt and acceptance of “as-built plans” of all work done in accordance with this Section 6.01. (c) Landlord shall furnish an allowance of up to $172,800.00 (One hundred seventy-two thousand, eight hundred dollars) (“Landlord Improvement Allowance”) to be credited against the cost of the construction of the Landlord Improvements. If the actual cost of construction of the Landlord Improvements is less than the Landlord Improvement Allowance (“Allowance Overage”), Tenant shall have no right or claim to such difference; provided however, that if there is an Allowance Overage, Landlord, upon submission of supporting documentation by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches for the Leased Premises, but such reimbursement shall not exceed the lesser of the Allowance Overage or 69,120.00 (Sixty-nine thousand, one hundred twenty & xx/100 dollars). If the actual cost of construction of the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord within ten (10) business days after receipt of supporting documentation and the General Contractor’s Certificate,. (d) Notwithstanding anything contained in Section 6.01 (c) above, within 30 days after the issuance of the General Contractor’s Certificate, Landlord will determine the sum of (i) the actual cost of the Landlord Improvements, plus (ii) if any, the actual costs submitted by Tenant towards the Contingent Allowance, and the product of the calculation shall be rounded to the next $1,000.00 (One Thousand Dollars). If the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (“Base Rent Reduction Factor”) for each whole $1,000.00 (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment to this Lease. In the event that the monthly Base Rent is reduced in accordance with this Section 6.01(d), there shall be no reduction in the Security Deposit Amount or in the requirements set forth for the Letter of Credit. The following example illustrates the intentions of the parties hereto as to computation of any reduction of the monthly Base Rent: Assumptions: 1. Actual cost of the Landlord Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination of reduction in monthly Base Rent: Total Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition to the Landlord Improvements, Landlord, at Landlord’s sole cost and expense, shall have the following additional work performed on the Leased Premises prior to delivery of possession to Tenant, such work to be coordinated with the construction of the Landlord Improvements: (i) Replace all stained, damaged or missing ceiling tiles, (ii) Paint all walls in the Leased Premises, the color to be designated by Tenant, (iii) Replace all vinyl floor tiles in the open laboratory area as shown in Exhibit C, (iv) Shampoo all carpets in the office areas and hallways and (v) Any existing water supply or drainage pipes in the open lab area that are not initially utilized by Tenant shall be capped and made reasonably flush with the floor, but such capping shall allow for those pipes to be tapped by Tenant for future use. (vi) Re-caulk all perimeter flashing; install new pads under all gas line blocking; repair any loose or open curb or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surface (vii) Repair any existing alligator or pothole areas.

Appears in 2 contracts

Samples: Commercial Lease (Oxford Immunotec Global PLC), Commercial Lease (Oxford Immunotec Global PLC)

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Landlord Improvements. (a) On the Commencement Date, Landlord will deliver construct a laboratory build-out for the Leased Premises ("Landlord Improvements") pursuant to plans submitted by Landlord to Tenant in a broom clean conditionand reasonably approved by Tenant ("Plans"), and, along which shall be consistent with the lightingfloor plan attached hereto as Exhibit "C." The Plans generally shall provide for the Landlord Improvements to be constructed in order to accommodate generally accepted generic biotechnical laboratory uses, electrical (excluding except as Landlord may otherwise agree. Unless otherwise determined by Landlord, the UPS system and the diesel generator), mechanical and plumbing fixtures, plumbing systems, dock doors and HVAC servicing the Leased Premises, hot water, doors and plate-glass, will be delivered to Tenant in good condition and repair, as defined in Section 5.05 above. (b) After receipt of the Letter of Credit and any required building permit, Landlord will commence and diligently pursue to completion, Improvements shall include the construction of an energy efficient electronically controlled central HV/AC plant. Within five (5) days after the improvements to the Leased Premises (the “Landlord Improvements”)Effective Date, in accordance with plans and specifications as shown in Exhibit B, subject to approval by local regulatory authorities (the “Plans”), which Plans are made a part of this Lease by reference. Any changes or modifications to the Plans must be made and accepted by written change order or agreement signed by Landlord and Tenant and will constitute an amendment to this Lease. Any Landlord Improvements made by Landlord are the property of Landlord and must be surrendered shall provide to Landlord upon for Landlord's review and approval the termination following: (i) a proposed detailed list of this Lease without credit to Tenant. Upon completion of any Landlord Improvements and issuance of a final certificate of occupancy (to be applied equipment for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant that all Landlord Improvements have been completed in accordance the Premises, with the Plans make, model, and specifications, and (the “General Contractor’s Certificate”)ii) a detailed chemical inventory, thereafter Landlord with all codes and classifications. Tenant shall provide and Tenant shall acknowledge receipt and acceptance of “as-built plans” of all work done in accordance with this Section 6.01. (c) to Landlord shall furnish an allowance of up to $172,800.00 (One hundred seventy-two thousand, eight hundred dollars) (“such other information as Landlord Improvement Allowance”) to be credited against the cost of the construction of the Landlord Improvements. If the actual cost of may reasonably request for construction of the Landlord Improvements is less than within five (5) days after written request therefor. Tenant shall provide written notice of its disapproval of the Plans within five (5) days after the Plans have been submitted detailing its precise reasons for disapproval. The failure of Tenant to disapprove the Plans in writing within a five (5) day period shall be conclusively deemed Tenant's approval of the Plans. Landlord Improvement Allowance shall have its architect revise the Plans to remedy any reasonable objections of Tenant, and Tenant shall have an additional five (“Allowance Overage”)5) day period to review the revised Plans to reasonably determine if such objections were satisfied; provided, however, Tenant shall have make no right or claim new objections to such difference; provided however, that if there is an Allowance Overage, Landlord, upon submission of supporting documentation by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches for the Leased Premises, but such reimbursement shall not exceed the lesser of the Allowance Overage or 69,120.00 (Sixty-nine thousand, one hundred twenty & xx/100 dollars)Plans. If there are any reasonable objections not addressed by revised Plans, the actual cost of construction of review procedure shall be repeated until all Tenant's objections are reasonably satisfied. If Tenant has not fully approved the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord Plans within ten sixty (1060) business days after receipt of supporting documentation and the General Contractor’s Certificate,. (d) Notwithstanding anything contained in Section 6.01 (c) above, within 30 days after the issuance of the General Contractor’s Certificatedate such plans were first submitted to Tenant hereunder, Landlord will determine the sum of (i) the actual cost of the Landlord Improvements, plus (ii) if any, the actual costs submitted by Tenant towards the Contingent Allowance, and the product of the calculation shall be rounded to the next $1,000.00 (One Thousand Dollars). If the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (“Base Rent Reduction Factor”) for each whole $1,000.00 (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment to at its sole election may terminate this Lease. In the event that the monthly Base Rent is reduced in accordance with this Section 6.01(d), there Tenant shall be no reduction timely sign and submit to Landlord a Certificate of Approval of Tenant Improvement Plans in the Security Deposit Amount or in the requirements set forth for the Letter of Credit. The following example illustrates the intentions of the parties hereto as to computation of any reduction of the monthly Base Rent: Assumptions: 1. Actual cost of the Landlord Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination of reduction in monthly Base Rent: Total Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition to the Landlord Improvements, Landlord, at Landlord’s sole cost and expense, shall have the following additional work performed on the Leased Premises prior to delivery of possession to Tenant, such work to be coordinated with the construction of the Landlord Improvements: (i) Replace all stained, damaged or missing ceiling tiles, (ii) Paint all walls in the Leased Premises, the color to be designated by Tenant, (iii) Replace all vinyl floor tiles in the open laboratory area form as shown in Exhibit C, "F" attached to this Lease and incorporated herein by this reference (iv) Shampoo all carpets in "Certificate"). In the office areas and hallways and (v) Any existing water supply or drainage pipes in case where Tenant is deemed to have approved the open lab area that are not initially utilized by Tenant Plans on account of Tenant's failure to timely respond following the delivery of the Plans, such approval shall be capped and made reasonably flush deemed to have been given in accordance with the floor, but such capping shall allow for those pipes to be tapped terms of the Certificate. Tenant acknowledges that Landlord may reasonably change the Plans as required by Tenant for future useApplicable Law or unforeseen circumstances. (vi) Re-caulk all perimeter flashing; install new pads under all gas line blocking; repair any loose or open curb or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surface (vii) Repair any existing alligator or pothole areas.

Appears in 2 contracts

Samples: Lease (Optimer Pharmaceuticals Inc), Lease (Optimer Pharmaceuticals Inc)

Landlord Improvements. Prior to Tenant’s occupancy, Landlord shall complete the Landlord Improvements. Landlord shall use commercially reasonable efforts to complete the Landlord Improvements by the Anticipated Rent Commencement Date. (a) On the Commencement DateAs of November 4, 2011, after consultation with Tenant, Landlord will deliver has provided Tenant with Landlord’s proposed plans and specifications (defined below in subpart (c))for the Leased Premises to Tenant Landlord Improvements (such plans and specifications, as amended in a broom clean condition, and, along accordance with the lightingprovisions of this Rider 101, electrical (excluding the UPS system are hereafter called “Plans and the diesel generatorSpecifications”), mechanical and plumbing fixtures, plumbing systems, dock doors and HVAC servicing the Leased Premises, hot water, doors and plate-glass, will be delivered to Tenant in good condition and repair, as defined in Section 5.05 above. (b) After receipt of the Letter of Credit The Plans and any required building permit, Landlord will commence Specifications have been accepted by both Tenant and diligently pursue to completionLandlord, the construction of the improvements to the Leased Premises (the “Landlord Improvements”), in accordance with plans Plans and specifications as shown in Exhibit B, subject to approval Specifications are incorporated herein by local regulatory authorities (the “Plans”), which Plans are reference and made a part of this Lease by reference. Any changes or modifications to the Plans must be made and accepted by written change order or agreement signed by Landlord and Tenant and will constitute an amendment to this Lease. Any Landlord Improvements made by Landlord are the property of Landlord and must be surrendered to Landlord upon the termination of this Lease without credit to Tenant. Upon completion of any Landlord Improvements and issuance of a final certificate of occupancy (to be applied hereof for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant that all Landlord Improvements have been completed in accordance with the Plans (the “General Contractor’s Certificate”), thereafter Landlord shall provide and Tenant shall acknowledge receipt and acceptance of “as-built plans” of all work done in accordance with this Section 6.01purposes. (c) Landlord and Tenant acknowledge that the plans dated November 4, 2011, by Page Xxxxxxxxxxx Page, LLP have been approved by both parties and shall furnish an allowance of up to $172,800.00 constitute the “Plans and Specifications.” (One hundred seventy-two thousand, eight hundred dollarsd) (“Landlord Improvement Allowance”) to be credited against the cost Promptly upon approval of the Plans and Specifications, Landlord has caused general contractors to bid for construction of the Landlord Improvements. If All bids have been opened together, with Landlord selecting the actual general contractor with the lowest bid to construct the Landlord Improvements (the “General Contractor”), subject to the reasonable approval of Tenant. Landlord shall enter into a guaranteed maximum price construction contract with the General Contractor in the amount of its bid (the “Approved Bid”) and shall not modify such contract without Tenant’s consent, which shall not be unreasonably withheld, delayed or conditioned. Landlord and Tenant have reviewed the Plans and Specifications and the bids and have agreed upon the scope of work to be constructed at a cost of construction of the Landlord Improvements is less than the Landlord Improvement Allowance (“Allowance Overage”), Tenant shall have no right or claim not to such difference; provided however, that if there is an Allowance Overage, Landlord, upon submission of supporting documentation by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches for the Leased Premises, but such reimbursement shall not exceed the lesser of the Allowance Overage or 69,120.00 (Sixty-nine thousand, one hundred twenty & xx/100 dollars). If the actual cost of construction of the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord within ten (10) business days after receipt of supporting documentation and the General Contractor’s Certificate,. (d) Notwithstanding anything contained in Section 6.01 (c) above, within 30 days after the issuance of the General Contractor’s Certificate, Landlord will determine the sum of (i) the actual cost of the Landlord Improvements, plus (ii) if any, the actual costs submitted by Tenant towards the Contingent Allowance, and the product of the calculation shall be rounded to the next $1,000.00 (One Thousand Dollars). If the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (“Base Rent Reduction Factor”) for each whole $1,000.00 (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment to this Lease. In the event that the monthly Base Rent is reduced in accordance with this Section 6.01(d), there shall be no reduction in the Security Deposit Amount or in the requirements set forth for the Letter of Credit. The following example illustrates the intentions of the parties hereto as to computation of any reduction of the monthly Base Rent: Assumptions: 1. Actual cost of the Landlord Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination of reduction in monthly Base Rent: Total Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition to the Landlord Improvements, Landlord, at Landlord’s sole cost and expense, shall have the following additional work performed on the Leased Premises prior to delivery of possession to Tenant, such work to be coordinated with the construction of the Landlord Improvements: (i) Replace all stained, damaged or missing ceiling tiles, (ii) Paint all walls in the Leased Premises, the color to be designated by Tenant, (iii) Replace all vinyl floor tiles in the open laboratory area as shown in Exhibit C, (iv) Shampoo all carpets in the office areas and hallways and (v) Any existing water supply or drainage pipes in the open lab area that are not initially utilized by Tenant shall be capped and made reasonably flush with the floor, but such capping shall allow for those pipes to be tapped by Tenant for future useContribution. (vi) Re-caulk all perimeter flashing; install new pads under all gas line blocking; repair any loose or open curb or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surface (vii) Repair any existing alligator or pothole areas.

Appears in 2 contracts

Samples: Lease Agreement (Peloton Therapeutics, Inc.), Lease Agreement (Peloton Therapeutics, Inc.)

Landlord Improvements. (a) On Landlord shall substantially complete the Commencement DateLandlord Improvements prior to Tenant’s taking occupancy of the Expansion Space. Landlord shall use commercially reasonable efforts to complete the Landlord Improvements by May 1, 2014. “Substantial Completion” shall mean the Landlord Improvements have been constructed in material accordance with the above referenced drawing, save and except for minor “punch list” items such that Tenant can occupy the Expansion Space and conduct its business, Landlord will deliver has obtained all approvals from the Leased Premises applicable governmental authorities for the legal occupancy of the Expansion Space and Landlord has delivered possession of the Expansion Space to Tenant in a the required condition, which date is currently anticipated to be May 1, 2014. Upon Substantial Completion, Landlord shall deliver possession of the Expansion Space to Tenant in good, vacant, broom clean condition, and, along with the lighting, electrical (excluding the UPS system all building systems in good working order and the diesel generator)roof water-tight, mechanical and plumbing fixtures, plumbing systems, dock doors and HVAC servicing the Leased Premises, hot water, doors and plate-glass, will be delivered to Tenant in good condition and repair, as defined in Section 5.05 above. (b) After receipt of the Letter of Credit and any required building permit, Landlord will commence and diligently pursue to completion, the construction of the improvements to the Leased Premises (the “Landlord Improvements”), in accordance compliance with plans and specifications as shown in Exhibit B, subject to approval by local regulatory authorities (the “Plans”), which Plans are made a part of this Lease by reference. Any changes or modifications to the Plans must be made and accepted by written change order or agreement signed by Landlord and Tenant and will constitute an amendment to this Lease. Any Landlord Improvements made by Landlord are the property of Landlord and must be surrendered all laws applicable to Landlord upon the termination of this Lease without credit to or Tenant. Upon completion of any Landlord Improvements and issuance of a final certificate of occupancy (to be applied for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant In the event that all Landlord Improvements have been completed in accordance with the Plans (the “General Contractor’s Certificate”), thereafter Landlord shall provide and Tenant shall acknowledge receipt and acceptance of “as-built plans” of all work done in accordance with this Section 6.01. (c) Landlord shall furnish an allowance of up to $172,800.00 (One hundred seventy-two thousand, eight hundred dollars) (“Landlord Improvement Allowance”) to be credited against the cost of the construction of the Landlord Improvements. If the actual cost of construction of the Landlord Improvements is less than not substantially completed by May 1, 2014, then the Landlord Improvement Allowance (“Allowance Overage”), Expansion Space Commencement Date shall be automatically amended to be that date the Expansion Space is delivered to Tenant shall have no right or claim to such difference; provided however, that if there is an Allowance Overage, Landlord, upon submission of supporting documentation by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches for the Leased Premises, but such reimbursement shall not exceed the lesser of the Allowance Overage or 69,120.00 (Sixty-nine thousand, one hundred twenty & xx/100 dollars). If the actual cost of construction of with the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord within ten (10) business days after receipt of supporting documentation and the General Contractor’s Certificate,. (d) Notwithstanding anything contained in Section 6.01 (c) above, within 30 days after the issuance of the General Contractor’s Certificate, Landlord will determine the sum of (i) the actual cost substantially complete. Upon Substantial Completion of the Landlord Improvements, plus (ii) if any, the actual costs submitted by Tenant towards the Contingent Allowance, and the product of the calculation shall be rounded to the next $1,000.00 (One Thousand Dollars). If the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (“Base Rent Reduction Factor”) for each whole $1,000.00 (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment to this Lease. In the event (i) written notice (“Notice of Completion”) that the monthly Base Rent is reduced in accordance with this Section 6.01(d), there shall be no reduction in the Security Deposit Amount or in the requirements set forth Expansion Space are ready for the Letter of Creditoccupancy. The Within seven (7) days following example illustrates the intentions Landlord’s giving of the parties hereto as Notice of Completion, Landlord and Tenant shall meet at a mutually convenient time to computation of any reduction perform a walk-through of the monthly Base Rent: Assumptions: 1. Actual cost of Expansion Space to inspect the Landlord Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination to prepare a punch list of reduction in monthly Base Rent: Total minor items needing correction and Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition to the Landlord Improvements, Landlord, at Landlord’s sole cost and expense, shall have the following additional work performed on the Leased Premises prior to delivery of possession to Tenant, promptly cause such work items to be coordinated with the construction of the Landlord Improvements: (i) Replace all stained, damaged or missing ceiling tiles, (ii) Paint all walls in the Leased Premises, the color to be designated by Tenant, (iii) Replace all vinyl floor tiles in the open laboratory area as shown in Exhibit C, (iv) Shampoo all carpets in the office areas and hallways and (v) Any existing water supply or drainage pipes in the open lab area that are not initially utilized by Tenant shall be capped and made reasonably flush with the floor, but such capping shall allow for those pipes to be tapped by Tenant for future usecorrected. (vi) Re-caulk all perimeter flashing; install new pads under all gas line blocking; repair any loose or open curb or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surface (vii) Repair any existing alligator or pothole areas.

Appears in 2 contracts

Samples: Lease Agreement (Peloton Therapeutics, Inc.), Lease Agreement (Peloton Therapeutics, Inc.)

Landlord Improvements. (a) On Landlord shall substantially complete the Commencement DateLandlord Improvements prior to Tenant’s taking occupancy of the 2017 Expansion Space. Landlord shall use commercially reasonable efforts to complete the Landlord Improvements by December 31, 2017. “Substantial Completion” shall mean the Landlord Improvements have been constructed in material accordance with the above referenced drawings, save and except for minor “punch list” items such that Tenant can occupy the 2017 Expansion Space and conduct its business, Landlord will deliver has obtained all approvals from the Leased Premises applicable governmental authorities for the legal occupancy of the 2017 Expansion Space and Landlord has delivered possession of the 2017 Expansion Space to Tenant in a the required condition, which date is currently anticipated to be December 31, 2017. Upon Substantial Completion, Landlord shall deliver possession of the 2017 Expansion Space to Tenant in good, vacant, broom clean condition, and, along with the lighting, electrical (excluding the UPS system all building systems in good working order and the diesel generator)roof water-tight, mechanical and plumbing fixtures, plumbing systems, dock doors and HVAC servicing the Leased Premises, hot water, doors and plate-glass, will be delivered to Tenant in good condition and repair, as defined in Section 5.05 above. (b) After receipt of the Letter of Credit and any required building permit, Landlord will commence and diligently pursue to completion, the construction of the improvements to the Leased Premises (the “Landlord Improvements”), in accordance compliance with plans and specifications as shown in Exhibit B, subject to approval by local regulatory authorities (the “Plans”), which Plans are made a part of this Lease by reference. Any changes or modifications to the Plans must be made and accepted by written change order or agreement signed by Landlord and Tenant and will constitute an amendment to this Lease. Any Landlord Improvements made by Landlord are the property of Landlord and must be surrendered all laws applicable to Landlord upon the termination of this Lease without credit to or Tenant. Upon completion of any Landlord Improvements and issuance of a final certificate of occupancy (to be applied for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant In the event that all Landlord Improvements have been completed in accordance with the Plans (the “General Contractor’s Certificate”), thereafter Landlord shall provide and Tenant shall acknowledge receipt and acceptance of “as-built plans” of all work done in accordance with this Section 6.01. (c) Landlord shall furnish an allowance of up to $172,800.00 (One hundred seventy-two thousand, eight hundred dollars) (“Landlord Improvement Allowance”) to be credited against the cost of the construction of the Landlord Improvements. If the actual cost of construction of the Landlord Improvements is less than not substantially completed by December 31, 2017, then the Landlord Improvement Allowance (“Allowance Overage”), 2017 Expansion Space Commencement Date shall be automatically amended to be that date the 2017 Expansion Space is delivered to Tenant shall have no right or claim to such difference; provided however, that if there is an Allowance Overage, Landlord, upon submission of supporting documentation by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches for the Leased Premises, but such reimbursement shall not exceed the lesser of the Allowance Overage or 69,120.00 (Sixty-nine thousand, one hundred twenty & xx/100 dollars). If the actual cost of construction of with the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord within ten (10) business days after receipt of supporting documentation and the General Contractor’s Certificate,. (d) Notwithstanding anything contained in Section 6.01 (c) above, within 30 days after the issuance of the General Contractor’s Certificate, Landlord will determine the sum of (i) the actual cost substantially complete. Upon Substantial Completion of the Landlord Improvements, plus (ii) if any, the actual costs submitted by Tenant towards the Contingent Allowance, and the product of the calculation shall be rounded to the next $1,000.00 (One Thousand Dollars). If the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (“Base Rent Reduction Factor”) for each whole $1,000.00 (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment to this Lease. In the event written notice (“Notice of Completion”) that the monthly Base Rent is reduced in accordance with this Section 6.01(d), there shall be no reduction in the Security Deposit Amount or in the requirements set forth 2017 Expansion Space are ready for the Letter of Creditoccupancy. The Within seven (7) days following example illustrates the intentions Landlord’s giving of the parties hereto as Notice of Completion, Landlord and Tenant shall meet at a mutually convenient time to computation of any reduction perform a walk-through of the monthly Base Rent: Assumptions: 1. Actual cost of 2017 Expansion Space to inspect the Landlord Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination to prepare a punch list of reduction in monthly Base Rent: Total minor items needing correction and Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition to the Landlord Improvements, Landlord, at Landlord’s sole cost and expense, shall have the following additional work performed on the Leased Premises prior to delivery of possession to Tenant, promptly cause such work items to be coordinated with the construction of the Landlord Improvements: (i) Replace all stained, damaged or missing ceiling tiles, (ii) Paint all walls in the Leased Premises, the color to be designated by Tenant, (iii) Replace all vinyl floor tiles in the open laboratory area as shown in Exhibit C, (iv) Shampoo all carpets in the office areas and hallways and (v) Any existing water supply or drainage pipes in the open lab area that are not initially utilized by Tenant shall be capped and made reasonably flush with the floor, but such capping shall allow for those pipes to be tapped by Tenant for future usecorrected. (vi) Re-caulk all perimeter flashing; install new pads under all gas line blocking; repair any loose or open curb or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surface (vii) Repair any existing alligator or pothole areas.

Appears in 2 contracts

Samples: Lease Agreement (Peloton Therapeutics, Inc.), Lease Agreement (Peloton Therapeutics, Inc.)

Landlord Improvements. (a) On the Commencement Date, Landlord will deliver the Leased Premises to Tenant in a broom clean condition, and, along with the lighting, electrical (excluding the UPS system and the diesel generator), mechanical and plumbing fixtures, plumbing systems, dock doors and HVAC servicing the Leased Premises, hot water, doors and plate-glass, will be delivered to Tenant in good condition and repair, as defined in Section 5.05 above. (b) After receipt of the Letter of Credit and any required building permit, Landlord will commence and diligently pursue to completion, the construction of the improvements to the Leased Premises (the “Landlord Improvements”), in accordance with plans and specifications as shown in Exhibit B, subject to approval by local regulatory authorities (the “Plans”), which Plans are made a part of this Lease by reference. Any changes or modifications to the Plans must be made and accepted by written change order or agreement signed by Landlord and Tenant and will constitute an amendment to this Lease. Any Landlord Improvements made by Landlord are the property of Landlord and must be surrendered to Landlord upon the termination of this Lease without credit to Tenant. Upon completion of any Landlord Improvements and issuance of a final certificate of occupancy (to be applied for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant that all Landlord Improvements have been completed in accordance with the Plans (the “General Contractor’s Certificate”), thereafter Landlord shall provide and Tenant shall acknowledge receipt and acceptance of “as-built plans” of all work done in accordance with this Section 6.01. (c) Landlord shall furnish an allowance of up to $172,800.00 (One hundred seventy-two thousand, eight hundred dollars) (“Landlord Improvement Allowance”) to be credited against the cost of the construction of the Landlord Improvements. If the actual cost of construction of the Landlord Improvements is less than the Landlord Improvement Allowance (“Allowance Overage”), Tenant shall have no right or claim to such difference; provided however, that if there is an Allowance Overage, Landlord, upon submission of supporting documentation by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches for the Leased Premises, but such reimbursement shall not exceed the lesser of the Allowance Overage or 69,120.00 (Sixty-nine thousand, one hundred twenty & xx/100 dollars). If the actual cost of construction of the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord within ten (10) business days after receipt of supporting documentation and the General Contractor’s Certificate,. (d) Notwithstanding anything contained in Section 6.01 (c) above, within 30 days after the issuance of the General Contractor’s Certificate, Landlord will determine the sum of (i) the actual cost of the Landlord Improvements, plus (ii) if any, the actual costs submitted by Tenant towards the Contingent Allowance, and the product of the calculation shall be rounded to the next $1,000.00 (One Thousand Dollars). If the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (“Base Rent Reduction Factor”) for each whole $1,000.00 (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment to this Lease. In the event that the monthly Base Rent is reduced in accordance with this Section 6.01(d), there shall be no reduction in the Security Deposit Amount or in the requirements set forth for the Letter of Credit. The following example illustrates the intentions of the parties hereto as to computation of any reduction of the monthly Base Rent: Assumptions: 1. Actual cost of the Landlord Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination of reduction in monthly Base Rent: Total Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition to the Landlord Improvements, Landlord, at Landlord’s sole cost and expense, shall have the following additional work performed on the Leased Premises prior to delivery of possession to Tenantusing Building standard materials, such work to be coordinated finishes and specifications, shall: (i) concurrently with the construction of the Landlord Improvements: Tenant Improvements (ias defined in the Work Letter) Replace all stained, damaged or missing ceiling tiles, to be constructed in the Current Premises install one (1) additional urinal in the Current Premises per mutually agreed upon plans; and (ii) Paint all walls concurrently with the construction of the Tenant Improvements to be constructed in the Leased Expansion Space install a full height demising wall to demise the Expansion Space, and segregate electrical, plumbing and mechanical systems for the Expansion Space, from the contiguous space to the Expansion Space (collectively, the “Landlord Improvements”). The Landlord Improvements shall be constructed in accordance with the terms and conditions set forth in the Work Letter. Except as provided in the immediately preceding sentence and Section 8 above, Tenant shall accept the Premises in its “AS-IS” condition. Landlord may complete certain Landlord Improvements in the Current Premises, while Tenant is in occupancy thereof and paying Rent under the color to be designated by Amended Lease, and Tenant acknowledges that some minor interruptions and/or interference with Tenant, (iii) Replace all vinyl floor tiles ’s business may occur during the course of Landlord’s completion of the Landlord Improvements in the open laboratory area Current Premises, but agrees that no minor interruptions or inconveniences to Tenant or its business suffered as shown in Exhibit C, (iv) Shampoo all carpets a result of Landlord’s completion of the Landlord Improvements in the office areas Current Premises shall excuse Tenant from paying any Rent that it is scheduled to pay pursuant to the Amended Lease, and hallways and (v) Any existing water supply or drainage pipes in shall not constitute a constructive eviction under the open lab area that are not initially utilized by Amended Lease. Tenant agrees to cooperate with Landlord to make the Current Premises available to Landlord and its agents for the performance of Landlord Improvements. Tenant shall be capped responsible for, at Tenant’s sole cost and made reasonably flush with expense, to relocate Tenant’s personal property, including any furniture and equipment in the floor, but such capping shall allow Current Premises prior to and during the period Landlord is completing the Landlord Improvements for those pipes to be tapped by Tenant for future usethe Current Premises. (vi) Re-caulk all perimeter flashing; install new pads under all gas line blocking; repair any loose or open curb or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surface (vii) Repair any existing alligator or pothole areas.

Appears in 1 contract

Samples: Multi Tenant Office Lease (Alteryx, Inc.)

Landlord Improvements. Landlord shall with reasonable diligence through a contractor, and/or subcontractors, designated by Landlord perform the Work List (a) On the Commencement Date, Landlord will deliver the Leased Premises to Tenant in a broom clean condition, and, along with the lighting, electrical (excluding the UPS system and the diesel generator), mechanical and plumbing fixtures, plumbing systems, dock doors and HVAC servicing the Leased Premises, hot water, doors and plate-glass, will be delivered to Tenant in good condition and repair, as defined below) items in Section 5.05 above. the Premises as provided for in this Construction Rider — Landlord Improvements (b) After receipt of the Letter of Credit and any required building permit, Landlord will commence and diligently pursue to completion, the construction of the improvements to the Leased Premises (the “Landlord Improvements”). Upon request by Landlord, Tenant shall designate in accordance writing an individual authorized to act as Tenant’s Representative with plans respect to all approvals, directions and specifications authorizations pursuant to this Construction Rider — Landlord Improvements. Landlord shall have no obligation to perform any work to prepare the Premises for use or occupancy by Tenant except as shown in Exhibit Bexpressly provided herein. Landlord, at its sole cost and expense (subject to approval by local regulatory authorities (the “Plans”), which Plans are made a part terms and provisions of this Lease by reference. Any changes or modifications Section 1.1 below) shall perform improvements to the Plans must be made and accepted by written change order or agreement signed by Landlord and Tenant and will constitute an amendment to this Lease. Any Landlord Improvements made by Landlord are the property of Landlord and must be surrendered to Landlord upon the termination of this Lease without credit to Tenant. Upon completion of any Landlord Improvements and issuance of a final certificate of occupancy (to be applied for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant that all Landlord Improvements have been completed Premises in accordance with the Plans following work list (the “General Contractor’s CertificateWork List)) using Building standard methods, thereafter Landlord shall provide materials and Tenant shall acknowledge receipt finishes and acceptance of “as-built plans” of all work done in accordance with this Section 6.01as otherwise reasonably determined by Landlord. (ca) Landlord shall furnish an allowance of up to $172,800.00 (One hundred seventy-two thousand, eight hundred dollars) (“Landlord Improvement Allowance”) to be credited against Paint the cost currently painted interior walls of the construction of Premises with Building standard paint; and, (b) Replace the Landlord Improvements. If existing carpeting located within the actual cost of construction of the Landlord Improvements is less than the Landlord Improvement Allowance (“Allowance Overage”), Tenant shall have no right or claim to such difference; provided however, that if there is an Allowance Overage, Landlord, upon submission of supporting documentation by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches for the Leased Premises, but such reimbursement shall not exceed the lesser of the Allowance Overage or 69,120.00 (Sixty-nine thousand, one hundred twenty & xx/100 dollars). If the actual cost of construction of the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord within ten (10) business days after receipt of supporting documentation and the General Contractor’s Certificate,. (d) Notwithstanding anything contained in Section 6.01 (c) above1.1. All other work and upgrades, within 30 days after the issuance of the General Contractorsubject to Landlord’s Certificateapproval, Landlord will determine the sum of (i) the actual cost of the Landlord Improvements, plus (ii) if any, the actual costs submitted by Tenant towards the Contingent Allowance, and the product of the calculation shall be rounded to the next $1,000.00 (One Thousand Dollars). If the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (“Base Rent Reduction Factor”) for each whole $1,000.00 (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment to this Lease. In the event that the monthly Base Rent is reduced in accordance with this Section 6.01(d), there shall be no reduction in the Security Deposit Amount or in the requirements set forth for the Letter of Credit. The following example illustrates the intentions of the parties hereto as to computation of any reduction of the monthly Base Rent: Assumptions: 1. Actual cost of the Landlord Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination of reduction in monthly Base Rent: Total Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition to the Landlord Improvements, Landlord, at LandlordTenant’s sole cost and expense, plus any applicable state sales or use tax thereon, payable upon demand as Additional Rent. Tenant shall have the following additional work performed on the Leased Premises prior to delivery of possession to Tenant, such work to be coordinated with the construction responsible for any Tenant Delay (defined below) in completion of the Landlord Improvements:Improvements resulting from any such other work and upgrades requested or performed by Tenant. (i) Replace all stained, damaged 1.2. Landlord’s supervision or missing ceiling tiles, (ii) Paint all walls in the Leased Premises, the color performance of any work for or on behalf of Tenant shall not be deemed to be designated a representation by Landlord that such work complies with applicable insurance requirements or that the improvements constructed will be adequate for Tenant, (iii) Replace all vinyl floor tiles in the open laboratory area as shown in Exhibit C, (iv) Shampoo all carpets in the office areas and hallways and (v) Any existing water supply or drainage pipes in the open lab area that are not initially utilized by Tenant shall be capped and made reasonably flush with the floor, but such capping shall allow for those pipes to be tapped by Tenant for future ’s use. (vi) Re-caulk all perimeter flashing; install new pads under all gas line blocking; repair any loose or open curb or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surface (vii) Repair any existing alligator or pothole areas.

Appears in 1 contract

Samples: Lease Agreement (Ditech Networks Inc)

Landlord Improvements. (a) On the Commencement Date, Landlord will deliver the Leased Premises to Tenant in A. Attached hereto as Exhibit C is a broom clean condition, and, along with the lighting, electrical (excluding the UPS system and the diesel generator), mechanical and plumbing fixtures, plumbing systems, dock doors and HVAC servicing the Leased Premises, hot water, doors and plate-glass, will be delivered to Tenant in good condition and repair, as defined in Section 5.05 above. (b) After receipt schedule of the Letter of Credit plans and any required building permit, Landlord will commence specifications comprising the outline specifications (“Outline Plans and diligently pursue to completion, the construction of Specifications”) for the improvements to be constructed on the Leased Premises Property by Landlord (the “Landlord Improvements”). The Building will have three (3) wings, in accordance each with plans three (3) floors and specifications one with a lower level, and will contain a total of approximately 315,000 rentable square feet (RSF), as shown on the drawings included within the Outline Specifications. The Landlord Improvements include the construction of a building shell, which will include all improvements to the ceiling and above, including sprinkler system, HVAC, lighting, ceiling grid and tile, all in Exhibit Bconformance with Tenant's space plan and as outlined in the Outline Plans and Specifications. Landlord shall be solely responsible for the costs of the Landlord Improvements, subject to approval by local regulatory authorities including, but not limited to, design, architectural fees, permit fees, and the amounts due the “Contractor” (as hereinafter defined). B. Landlord will retain Xxxxxxxxx, Inc. as lead architect for the Landlord Improvements (the “PlansProject Architect), which Plans are made ) for a part net (no engineering) fee of this Lease by reference. Any changes or modifications to two and one-half percent (2.5%) of the Plans must be made and accepted by written change order or agreement signed by Landlord and Tenant and will constitute an amendment to this Lease. Any Landlord Improvements made by Landlord are cost of the property of Landlord and must be surrendered to Landlord upon the termination of this Lease without credit to Tenant. Upon completion of any Landlord Improvements and issuance of a final certificate of occupancy (to be applied for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant that all Landlord Improvements have been completed otherwise in accordance with the terms and conditions of a mutually acceptable service contract between Landlord and Xxxxxxxxx, Inc. C. Landlord intends to hire or has hired a joint venture consisting of Paric Corporation ("Paric") and Clayco Construction Company, Inc. ("Clayco") (said joint venture is referred to as "Contractor") as the general contractor to construct the Landlord Improvements. D. Subject to the next paragraph, the Outline Plans (the “General Contractor’s Certificate”), thereafter and Specifications are hereby approved by Landlord shall provide and Tenant. X. Xxxxxxxx and Tenant shall work with the Project Architect, Contractor and Ground Lessor (for code compliance purposes only) to develop a final set of construction plans consistent with the Outline Plans and Specifications. Said construction plans once approved by Landlord, Tenant, the Project Architect, Contractor and Ground Lessor are referred to as the "Final LI Plans." The parties acknowledge receipt and acceptance of “as-built plans” of all work done that Tenant must provide its interior space plan by February 1, 2006 in accordance with this Section 6.01order for the Tenant to be able to meet the Scheduled Date (as hereinafter defined). (c) X. Xxxxxxxx and Tenant shall cooperate with the Project Architect and the Contractor to obtain the issuance of a building permit from the Ground Lessor as soon as possible. If the Ground Lessor requires any changes to the Final LI Plans, Landlord and Tenant, shall work together with the Contractor and the Project Architect to promptly resolve any issues that may arise concerning the changes requested by the Ground Lessor. G. Landlord shall furnish an allowance cause the Contractor to make its books and records pertaining to construction of up to $172,800.00 (One hundred seventy-two thousandthe Landlord Improvements and the Tenant Improvements available for Tenant’s review at any time during normal business hours upon reasonable advance notice at a location in St. Louis or St. Xxxxxxx County, eight hundred dollars) (“Missouri. The terms of any agreement between Landlord Improvement Allowance”) and the Contractor shall be consistent with the foregoing, and shall provide for the work to be credited against completed on open book basis. Neither Landlord nor the Contractor shall approve any changes in the Final LI Plans or request any change directive without Xxxxxx’s prior written approval, and neither Landlord nor the Contractor shall execute any change orders or change directives without the prior written consent of Xxxxxx, such consent not to be unreasonably withheld. Tenant shall respond in writing to any requests made by Landlord or Contractor for changes in the Final LI Plans within ten (10) days after Xxxxxx’s receipt of same. If Tenant does not consent to any requested change order, Xxxxxx’s written response shall specify Tenant’s reasons for such non-consent. Notwithstanding the foregoing, Tenant shall have the right, in its discretion, to deny any request for a change order or change directive that (i) in Tenant’s reasonable opinion materially and adversely affects the Premises; or (ii) results in any increased cost payable by Xxxxxx. H. Landlord shall cause the Contractor to (i) proceed diligently to complete the Landlord Improvements, (ii) provide to Landlord and Tenant, prior to the start of construction, a copy of the construction schedule, and (iii) keep Landlord and Xxxxxx advised of any changes to the construction schedule. I. During construction of the Landlord Improvements, Landlord or the Contractor shall carry builder's risk insurance on the Landlord Improvements. J. Landlord shall cause the Contractor to construct the Landlord Improvements in a good and workmanlike manner, in accordance with all applicable laws and in substantial compliance with the Final LI Plans. K. Once the Final LI Plans are developed, Landlord shall advise Tenant of the estimated cost of constructing the Landlord Improvements pursuant to such Final LI Plans (the “Estimated LI Cost”). If From time to time during the actual cost course of construction of the Landlord Improvements is less than Improvements, Tenant may request changes to the Landlord Improvement Allowance Final LI Plans (each a Allowance OverageTenant LI Change Order Request”, and collectively the “Tenant LI Change Order Requests”), . Any Tenant LI Change Order Request shall have no right or claim be subject to such difference; provided however, that if there is an Allowance Overage, the approval of Landlord, upon submission of supporting documentation by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches for the Leased Premises, but such reimbursement shall not exceed the lesser of the Allowance Overage or 69,120.00 to be unreasonably withheld. Within five (Sixty-nine thousand, one hundred twenty & xx/100 dollars). If the actual cost of construction of the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord within ten (105) business days after receipt of supporting documentation a Tenant LI Change Order Request, Landlord shall notify Tenant in writing whether it is willing to approve the subject Tenant LI Change Order Request and if Landlord is not willing to approve such Request, such notice shall include Landlord’s reasons therefor. If Landlord advises Tenant that it is willing to approve the subject Tenant LI Change Order Request, Xxxxxxxx’s notice shall include a memorandum setting forth the impact on cost and schedule resulting from such Tenant LI Change Order Request (each a “Tenant LI Change Order Memorandum”). Tenant shall, within five (5) business days following Xxxxxx’s receipt of a Tenant LI Change Order Memorandum, either (i) execute and return the Tenant LI Change Memorandum, in which case the project budget and construction schedule shall be deemed modified automatically without further action from either party to take account of such Tenant LI Change Order Request; or (ii) retract its Tenant LI Change Order Request. Landlord shall provide Tenant with a statement summarizing all agreed-upon TI Change Order Memoranda and their cumulative effect on the Estimated LI Cost and the General Contractor’s Certificate,project schedule. If, after taking all agreed-upon Tenant LI Change Memoranda into account, the cost to construct the Landlord Improvements will exceed the Estimated LI Cost, the amount of such increase shall be deducted from the amount of the “Allowance” (as defined below). If, after taking all agreed-upon Tenant LI Change Memoranda into account, the cost to construct the Landlord Improvements will be less than the Estimated LI Cost, the amount of such decrease shall be added to the amount of the “Allowance” (as defined below).A Tenant LI Change Order Request shall not become part of the Landlord Improvements unless a written Tenant LI Change Order Memorandum is signed by Landlord, Tenant, Architect and the Contractor approving the change. Once a Tenant LI Change Order Memorandum has been signed by Landlord, Tenant, the Contractor and Project Architect (and Ground Lessor approval of the change has been obtained if required), the Final LI Plans are deemed modified by the signed LI Tenant TI Change Order Memorandum. L. Tenant shall have access to the Premises at reasonable times during construction for the purpose of monitoring the construction work, and Landlord and Tenant shall promptly inform each other in writing if either discovers any defects in or other problems with Contractor's construction work. Tenant shall comply with any rules and procedures adopted by the Contractor regulating Landlord Improvements site visits. M. Not less than five (d5) Notwithstanding anything contained business days prior to the anticipated Substantial Completion of the Landlord Improvements (as defined in Section 6.01 4.B), Landlord, Tenant, Contractor and Project Architect shall participate in a joint inspection of the Landlord Improvements and identify those items, if any, that are incomplete or do not conform to the Final LI Plans. At such inspection, Landlord, Tenant, Contractor and Project Architect shall also develop a schedule of “Punchlist Items”, which shall be those incomplete or nonconforming items the non-completion or non-correction of which will not cause the Landlord Improvements from being Substantially Complete (c) aboveas defined in Section 4.B). N. Possession of the Premises shall be delivered to Tenant on the Commencement Date (see Basic Lease Data Section of this Lease for the manner in which the Commencement Date is determined), notwithstanding that there may be Punchlist Items to be completed. O. Landlord shall cause the Contractor to complete any Punchlist Items within 30 45 days after the issuance Punchlist Items schedule is approved in writing by Landlord and Tenant, except that Punchlist Items that cannot be completed until the weather is appropriate (such as landscaping) shall be completed within a reasonable period of time after the General Contractor’s Certificateweather becomes suitable for completion of such items. If requested by Landlord, Tenant shall participate in any inspections made by Landlord will determine the sum of to verify that Punchlist Items have been completed and shall acknowledge in writing that such Punchlist Items have been completed. P. Landlord hereby agrees to (i) warrant all work performed with respect to the actual cost Landlord Improvements for a period of twenty-four (24) months from the Substantial Completion of the Landlord Improvements, plus Improvements (ii) if any, the actual costs submitted by Tenant towards the Contingent Allowance, and the product of the calculation shall be rounded to the next $1,000.00 (One Thousand Dollars). If the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (Base Rent Reduction FactorWarranty Period”) for each whole $1,000.00 and to correct all defects in such work (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment to this Lease. In the event that the monthly Base Rent is reduced in accordance with this Section 6.01(d), there shall be no reduction in the Security Deposit Amount or in the requirements set forth for the Letter of Credit. The following example illustrates the intentions of the parties hereto as to computation of any reduction of the monthly Base Rent: Assumptions: 1. Actual cost of the Landlord Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination of reduction in monthly Base Rent: Total Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition to the Landlord Improvements, Landlord, at Landlord’s sole cost and expense) of which Landlord receives written notice from Tenant during the Warranty Period; and (ii) to correct all defects and perform all repairs to the portion of the Landlord Improvements during the Warranty Period, at Xxxxxxxx’s sole cost and expense. Landlord shall assign to Tenant all warranties (extended or otherwise) that apply to any systems servicing the Landlord Improvements which Tenant is responsible for maintaining under the terms of the Lease, or if such warranties are non-assignable, Landlord shall enforce said warranties on Tenant’s behalf. Landlord’s warranty obligations shall not apply to defects or damages to any items subject to such warranties arising from or caused by Tenant’s neglect or misuse or arising from or caused by Tenant’s failure to comply with its obligations under this Lease. Q. Landlord agrees to build and fund an entire arterial road from University Blvd. to Xxxxxx Road (the "Road Improvements"), at no cost to Tenant in accordance with this Section 2.Q. Landlord guarantees that (i) Phase I of the Road Improvements from University Blvd. to the MetroLink tracks with a connection to Lauderdale Road will be completed by March 1, 2007; and (ii) Phase II of the Road Improvements from the MetroLink tracks to Xxxxxx Road will be completed by December 31, 2007 subject to right-of-way acquisition delays; provided, however, Landlord agrees to use diligent and good faith efforts to avoid such delays. Said deadlines shall be subject to delays caused by Force Majeure Events. Landlord’s inability to obtain public funding or reimbursement for all or a portion of the cost of the Road Improvements shall not constitute a Force Majeure Event. Landlord agrees that if a retaining wall is required along the south boundary of the right-of-way for the Road Improvements east of the MetroLink tracks, then the plans and specifications for any such wall shall be subject to the prior written approval of Tenant. Tenant acknowledges that (i) the Road Improvements are being constructed by Landlord in cooperation with Ground Lessor and St. Louis County, and (ii) provided Tenant’s rights and obligations under this Lease are not materially and adversely affected, this Lease may need to be modified to accommodate the funding structure for the Road Improvements, as more particularly provided in Section 50 hereof. X. Xxxxxxxx shall seek to configure the right-of-way for the Road Improvements to allow for the placement of a monument sign at the intersection of University Blvd. and University Place. To the extent permitted under the Protective Covenants and applicable regulations, Tenant shall have the following additional work performed right, at Tenant’s expense, to erect a monument sign at such location. For so long as Tenant occupies more than fifty percent (50%) of the office space on the Leased Premises prior Property, Tenant shall have the sole right to delivery use such sign. If, and when, Tenant occupies less than fifty percent (50%) of possession the office space on the Property, Landlord shall have the right to Tenantoffer space on the monument sign to tenants at the Property occupying in excess of 50,000 square feet of space. In such event, available space on the monument sign shall be assigned to tenants on the Property on a proportionate basis allocated to the space occupied by such work to tenants (and the cost of maintaining and repairing such sign shall be coordinated with allocated among Tenant and such other tenants on the construction same proportionate basis). S. As part of the Landlord Improvements: (i) Replace all stained, damaged or missing ceiling tiles, (ii) Paint all walls in the Leased Premises, the color Building will be outfitted with a standard, computerized proximity card reader system at all exterior doors, which will be provided at Landlord’s expense. The Tenant will have full access to be designated by Tenant, (iii) Replace all vinyl floor tiles in the open laboratory area as shown in Exhibit C, (iv) Shampoo all carpets in system to control ingress and egress to various portions of the office areas and hallways and (v) Any existing water supply or drainage pipes in the open lab area that are not initially utilized by Building. Tenant shall be capped and made reasonably flush with the floor, but responsible for providing such capping shall allow for those pipes to be tapped by Tenant for future usesecurity staffing as it may desire. (vi) Re-caulk all perimeter flashing; install new pads under all gas line blocking; repair any loose or open curb or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surface (vii) Repair any existing alligator or pothole areas.

Appears in 1 contract

Samples: Office Lease (Express Scripts Inc)

Landlord Improvements. (a) On the Commencement Date, Landlord will deliver the Leased Premises to Tenant in a broom clean condition, and, along with the lighting, electrical (excluding the UPS system and the diesel generator), mechanical and plumbing fixtures, plumbing systems, dock doors and HVAC servicing the Leased Premises, hot water, doors and plate-glass, will be delivered to Tenant in good condition and repair, as defined in Section 5.05 above. (b) After receipt of the Letter of Credit and any required building permit, Landlord will commence and diligently pursue to completion, complete the construction of the improvements to the Leased Premises (the “Landlord Improvements”)on or before March 1, 2006, in accordance with plans and specifications as shown in Exhibit Bdated September 9, subject 2005, by BDH & Young, agreed to approval by local regulatory authorities (the “Plans”)Landlord and Tenant, which Plans plans and specifications are attached hereto as Exhibit A and made a part hereof. Completion shall be evidenced by a certificate of this Lease substantial completion from Landlord’s architect and receipt of any permits or approvals, if any, required from the City of Bloomington, Minnesota to permit Tenant to lawfully fixture and move-in to the Premises. Landlord shall notify Tenant, in writing, when Landlord has regained possession of the Premises from its existing tenant, and commenced construction of the improvements. The plans and specifications provide for a mutually acceptable space plans finish schedule, signage and front entrance. Landlord will provide all the existing building systems, including: computer center with 24” raised floor backed by referencea 400kw diesel generator, Liebeit uninterruptible power system with matching battery cabinet, back-up Kohler 1200 amp diesel generator for the entire facility, and Intergen Fire Suppression System. Any changes or modifications to the Plans must approved plans and specifications shall be made and accepted only by written change order or agreement signed by Landlord and Tenant Tenant, at Tenant’s expense, and will shall constitute an amendment to this Lease. Any Landlord Improvements made by Landlord are the property of Landlord and must be surrendered to Landlord upon the termination of this Lease without credit to Tenant. Upon completion of any Landlord Improvements and issuance of a final certificate of occupancy (to be applied for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant agree that all Landlord Improvements have been completed in accordance with the Plans (the “General Contractor’s Certificate”), thereafter Landlord shall provide and Tenant shall acknowledge receipt and acceptance of “as-built plans” of all work done in accordance with this Section 6.01. (c) Landlord shall furnish an allowance of up to $172,800.00 (One hundred seventy-two thousand, eight hundred dollars) (“Landlord Improvement Allowance”) to be credited against the cost of the construction of the Landlord Improvements. If the actual cost of construction of the Landlord Improvements is less than the Landlord Improvement Allowance (“Allowance Overage”), Tenant shall have no right or claim the ability to such difference; provided howeverparticipate in so-called “value engineering” during the period ending October 28, that if there is an Allowance Overage2005, Landlordall at Tenant’s expense, upon submission including architectural and engineering fees and expenses, all of supporting documentation by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches for the Leased Premises, but such reimbursement shall not exceed the lesser of the Allowance Overage or 69,120.00 (Sixty-nine thousand, one hundred twenty & xx/100 dollars). If the actual cost of construction of the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord within ten (10) business days after receipt of supporting documentation and the General Contractor’s Certificate,. (d) Notwithstanding anything contained in Section 6.01 (c) above, within 30 days after the issuance of the General Contractor’s Certificate, Landlord will determine the sum of (i) the actual cost of the Landlord Improvements, plus (ii) if any, the actual costs submitted by Tenant towards the Contingent Allowance, and the product of the calculation which shall be rounded subject to Landlord’s reasonable approval, provided any resulting net savings shall be passed through to Tenant in the next $1,000.00 (One Thousand Dollars). If form of a credit against the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (“Base Rent Reduction Factor”) for each whole $1,000.00 (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent initially payable under this Lease until credited in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment to this Lease. In the event that the monthly Base Rent is reduced in accordance with this Section 6.01(d), there shall be no reduction in the Security Deposit Amount or in the requirements set forth for the Letter of Credit. The following example illustrates the intentions of the parties hereto as to computation of any reduction of the monthly Base Rent: Assumptions: 1. Actual cost of the Landlord Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination of reduction in monthly Base Rent: Total Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition to the Landlord Improvements, Landlord, at Landlord’s sole cost and expense, shall have the following additional work performed on the Leased Premises prior to delivery of possession to Tenant, such work to be coordinated with the construction of the Landlord Improvements: (i) Replace all stained, damaged or missing ceiling tiles, (ii) Paint all walls in the Leased Premises, the color to be designated by Tenant, (iii) Replace all vinyl floor tiles in the open laboratory area as shown in Exhibit C, (iv) Shampoo all carpets in the office areas and hallways and (v) Any existing water supply or drainage pipes in the open lab area that are not initially utilized by Tenant shall be capped and made reasonably flush with the floor, but such capping shall allow for those pipes to be tapped by Tenant for future usefull. (vi) Re-caulk all perimeter flashing; install new pads under all gas line blocking; repair any loose or open curb or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surface (vii) Repair any existing alligator or pothole areas.

Appears in 1 contract

Samples: Commercial Lease (Delphax Technologies Inc)

Landlord Improvements. (a) On Landlord hereby reserves the Commencement Date, Landlord will deliver the Leased Premises right to Tenant in a broom clean condition, and, along with the lighting, electrical (excluding the UPS system and the diesel generator), mechanical and plumbing fixtures, plumbing systems, dock doors and HVAC servicing the Leased Premises, hot water, doors and plate-glass, will be delivered to Tenant in good condition and repair, as defined in Section 5.05 above. (b) After receipt of the Letter of Credit and any required building permit, Landlord will commence and diligently pursue to completion, the construction of the improvements to the Leased Premises (the “Landlord Improvements”), in accordance with plans and specifications as shown in Exhibit B, subject to approval by local regulatory authorities (the “Plans”), which Plans are made a part of this Lease by reference. Any changes or modifications to the Plans must be made and accepted by written change order or agreement signed by Landlord and Tenant and will constitute an amendment to this Lease. Any Landlord Improvements made by Landlord are the property of Landlord and must be surrendered to Landlord upon the termination of this Lease without credit to Tenant. Upon completion of any Landlord Improvements and issuance of a final certificate of occupancy (to be applied for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant that all Landlord Improvements have been completed in accordance with the Plans (the “General Contractor’s Certificate”), thereafter Landlord shall provide and Tenant shall acknowledge receipt and acceptance of “as-built plans” of all work done in accordance with this Section 6.01. (c) Landlord shall furnish an allowance of up to $172,800.00 (One hundred seventy-two thousand, eight hundred dollars) (“Landlord Improvement Allowance”) to be credited against the cost of the construction of the Landlord Improvements. If the actual cost of construction of the Landlord Improvements is less than the Landlord Improvement Allowance (“Allowance Overage”), Tenant shall have no right or claim to such difference; provided however, that if there is an Allowance Overage, Landlord, upon submission of supporting documentation by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches for the Leased Premises, but such reimbursement shall not exceed the lesser of the Allowance Overage or 69,120.00 (Sixty-nine thousand, one hundred twenty & xx/100 dollars). If the actual cost of construction of the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord within ten (10) business days after receipt of supporting documentation and the General Contractor’s Certificate,. (d) Notwithstanding anything contained in Section 6.01 (c) above, within 30 days after the issuance of the General Contractor’s Certificate, Landlord will determine the sum of (i) the actual cost of the Landlord Improvements, plus (ii) if any, the actual costs submitted by Tenant towards the Contingent Allowance, and the product of the calculation shall be rounded to the next $1,000.00 (One Thousand Dollars). If the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (“Base Rent Reduction Factor”) for each whole $1,000.00 (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment to this Lease. In the event that the monthly Base Rent is reduced in accordance with this Section 6.01(d), there shall be no reduction in the Security Deposit Amount or in the requirements set forth for the Letter of Credit. The following example illustrates the intentions of the parties hereto as to computation of any reduction of the monthly Base Rent: Assumptions: 1. Actual cost of the Landlord Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination of reduction in monthly Base Rent: Total Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition to the Landlord Improvements, Landlordconstruct, at Landlord’s sole cost and expense, additional buildings or any other improvements, alterations, additions or replacement of any nature whatsoever in any area outside the boundary of or attaching to the Improvements and within the Campus (the “Landlord Future Improvements”) which may include the area where the Required Common Areas are constructed, provided Landlord provides relocated or alternative Common Areas as described in Section 1.2(b). (b) Without limiting the generality of the forgoing, Landlord shall have the following additional work performed right to construct, at Landlord’s sole cost, a new building or other improvement, including but not limited to pedestrian walkways connecting the MOB to one or more other structures (e.g., parking garage, medical facilities or office building) (collectively, the “New Building”) adjoining the MOB and connected to the MOB by, among other things, common corridors, elevator lobbies, and elevator banks. A portion of the New Building connecting said New building to the MOB may be located on a portion of the Land. Landlord, however, shall be under no obligation to construct a New Building. In addition, Landlord shall have the right to grant to a third party, that may or may not be affiliated with Landlord, the right to construct a New Building. If and to the extent such Landlord Future Improvements connect or attach to the MOB in any material way, then Tenant and the holder of any leasehold mortgage granted by Tenant shall have the right to review and approve any such plans and their impact on the Leased Premises prior to delivery of possession to TenantMOB, such work approval not to be coordinated unreasonably withheld, conditioned or delayed (provided, however, Tenant and the holder of any leasehold mortgage hereby acknowledge the importance to Landlord of the ability to construct a New Building on the Campus and if Tenant or any leasehold mortgagee do not approve any such plans, they must demonstrate that the construction of the New Building would have a material adverse impact on the MOB or its operation (and competition for tenants shall not be a valid consideration when determining if the New Building would have a material adverse impact on the MOB). If Tenant or any leasehold mortgagee fails to disapprove or comment upon any plans within thirty (30) days after receiving such plans, such plans will be deemed to have been approved. (c) In connection with the construction of a New Building, Landlord shall coordinate with Tenant (each acting reasonably) any entry onto the Landlord Improvements: (i) Replace all stained, damaged or missing ceiling tiles, (ii) Paint all walls in the Leased Premises, the color Property and any work to be designated by Tenant, performed in connection with any material changes to the MOB or the Property, which has been approved as set forth in Section 4.2(b) above. If Landlord constructs a New Building, and regardless of whether such construction results in encroachment upon or permanent use of a portion of the Land or MOB, Landlord shall take or cause its contractor to make commercially reasonable efforts to mitigate or limit noise, dust, disturbance and temporary cessation of utilities and shall provide temporary use of parking and drive areas for staging areas or otherwise in order to mitigate or limit interference with the use and enjoyment of the MOB. Tenant acknowledges that some interference and inconvenience will inevitably result from the construction and attachment of the New Building and so long as Landlord makes a commercially reasonable effort to mitigate or limit the same, Landlord shall not be subjected to any liability therefor, nor shall Tenant be entitled to any compensation (iiiof any kind or amount whatsoever) Replace all vinyl floor tiles in or diminution or abatement of Rent on account thereof, nor shall the open laboratory area as shown in Exhibit C, (iv) Shampoo all carpets in same be deemed a constructive or actual eviction or otherwise be grounds for terminating or modifying this Lease. Landlord shall have the office areas and hallways right, at its sole option, to incorporate or join common utilities and/or other operational aspects of the New Building with the MOB and (v) Any existing water supply or drainage pipes in , if the open lab area that costs for any of the same are not initially utilized by separately metered or allocated, Landlord shall have the right to make a reasonable allocation with respect to such costs and Tenant shall be capped make payment thereof as if such amount were originally contemplated under the terms of this Lease. Tenant (and made any Leasehold Mortgagee (as defined herein) of Tenant) shall execute any cross easement or similar agreements as Landlord may reasonably flush require in connection with the floor, but such capping shall allow for those pipes to be tapped by Tenant for future useNew Building. (vid) Re-caulk Notwithstanding the forgoing, if Landlord does exercise its rights under this Section 4.2, to construct a New Building: (a) the cost thereof shall be borne solely by Landlord; (b) the structural integrity of the MOB shall be assured by Landlord in writing, and Landlord shall indemnify, defend and hold Tenant harmless from and against all perimeter flashingcosts, expenses and damages in the event the structural integrity is compromised in any way; install new pads under all gas line blocking(c) Landlord will restore any portions of the MOB impacted by construction to a condition equal to or better than the condition of the same prior to the construction impact; repair any loose (d) ingress and egress to and from the MOB, and parking for the MOB, shall not be materially adversely affected other than as may reasonably be required on a temporary basis in connection with such construction, and such temporary impacts shall only be permitted if reasonable alternative parking or open curb access is provided; and (e) such attachments and/or connections shall not materially adversely affect Tenant’s or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surfaceTenant’s Occupants’ use of the MOB for the uses permitted hereunder. (viie) Repair Landlord agrees that it shall not solicit any existing alligator tenants of the MOB to become tenants of the New Building if such tenancy in the New Building would become effective prior to the expiration of the tenant’s current lease term in the MOB. If Landlord accepts as a tenant in the New Building any tenant in the MOB who breaks its MOB lease (a “Relocating Tenant”), then Landlord shall be obligated to assume such Relocating Tenant’s lease in the MOB through the balance of the term of such lease. The foregoing shall not apply if Tenant or pothole areasan affiliate of Tenant is the owner or ground lessee of the New Building.

Appears in 1 contract

Samples: Ground Lease Agreement (CNL Healthcare Properties, Inc.)

Landlord Improvements. (a) On the Commencement Date, Landlord will deliver The parties recognize and acknowledge that the Leased Premises are currently a former restaurant facility and need to Tenant in a broom clean conditionbe remodeled, and, along with including the lighting, electrical (excluding the UPS system interior and the diesel generator), mechanical and plumbing fixtures, plumbing systems, dock doors and HVAC servicing exterior of the Leased Premises. Landlord shall retain the services of (i) Xxx Architects/Interior Designers, hot waterP.C. (the “Architect”), doors and plate-glass(ii) a general contractor reasonably acceptable to Landlord, will which general contractor may not be delivered to Tenant in good condition and repairthe lowest bidder, as defined in Section 5.05 above. (b) After receipt for the purpose of the Letter of Credit and any required building permit, Landlord will commence and diligently pursue to completion, the construction of the improvements to preparing the Leased Premises for Tenant’s occupancy pursuant to plans and specifications prepared by the Architect, which plans and specifications shall be reasonably acceptable to Tenant (the “Landlord ImprovementsWork”), in accordance with . Upon approval of the plans and specifications specifications, Landlord shall construct the Work as shown in Exhibit B, subject to approval by local regulatory authorities soon as is reasonably practicable. The “Commencement Date” shall be the earlier of the date that (the “Plans”), which Plans are made i) a part of this Lease by reference. Any changes or modifications to the Plans must be made and accepted by written change order or agreement signed by Landlord and Tenant and will constitute an amendment to this Lease. Any Landlord Improvements made by Landlord are the property of Landlord and must be surrendered to Landlord upon the termination of this Lease without credit to Tenant. Upon completion of any Landlord Improvements and issuance of a final temporary certificate of occupancy (to be applied for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant that all Landlord Improvements have been completed in accordance with the Plans (the “General Contractor’s Certificate”), thereafter Landlord shall provide and Tenant shall acknowledge receipt and acceptance of “as-built plans” of all work done in accordance with this Section 6.01. (c) Landlord shall furnish an allowance of up to $172,800.00 (One hundred seventy-two thousand, eight hundred dollars) (“Landlord Improvement AllowanceTCO”) to be credited against the cost of the construction of the Landlord Improvements. If the actual cost of construction of the Landlord Improvements is less than the Landlord Improvement Allowance (“Allowance Overage”), Tenant shall have no right or claim to such difference; provided however, that if there is an Allowance Overage, Landlord, upon submission of supporting documentation by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches issued for the Leased Premises, but such reimbursement shall not exceed the lesser of the Allowance Overage or 69,120.00 (Sixty-nine thousand, one hundred twenty & xx/100 dollars). If the actual cost of construction of the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord within ten (10) business days after receipt of supporting documentation and the General Contractor’s Certificate,. (d) Notwithstanding anything contained in Section 6.01 (c) above, within 30 days after the issuance of the General Contractor’s Certificate, Landlord will determine the sum of (i) the actual cost of the Landlord Improvements, plus (ii) if any, a certificate of occupancy (the actual costs submitted by Tenant towards “CO”) is issued for the Contingent Allowance, Leased Premises and the product parties shall execute a written document in form and substance reasonably satisfactory to Landlord and Tenant acknowledging the date of the calculation Commencement Date; provided, however, that the Commencement Date shall be rounded to the next $1,000.00 (One Thousand Dollars). If the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (“Base Rent Reduction Factor”) for each whole $1,000.00 (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent earlier in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment to this Lease. In the event that the monthly Base Rent TCO is reduced in accordance issued at a later date due to changes to the Work requested by Tenant, with this Section 6.01(d), there such date being determined by the Architect. Landlord shall be no reduction in provide to Tenant periodic reports setting forth the Security Deposit Amount or in the requirements set forth for the Letter of Credit. The following example illustrates the intentions progress of the parties hereto as to computation of any reduction remodeling and the anticipated date that the Leased Premises will have a TCO or CO. After delivery of the monthly Base Rent: Assumptions: 1. Actual cost of the Leased Premises to Tenant, Landlord Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination of reduction in monthly Base Rent: Total Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition to the Landlord Improvements, Landlord, at Landlord’s sole cost and expense, shall have the following additional work performed on right to enter the Leased Premises prior during normal business hours to delivery of possession to Tenant, finish “punch list” items and such work shall not be deemed to be coordinated with the construction a breach of the Landlord Improvements: (i) Replace all stained, damaged or missing ceiling tiles, (ii) Paint all walls in the Leased Premises, the color to be designated by Tenant, (iii) Replace all vinyl floor tiles in the open laboratory area as shown in Exhibit C, (iv) Shampoo all carpets in the office areas and hallways and (v) Any existing water supply or drainage pipes in the open lab area that are not initially utilized by Tenant shall be capped and made reasonably flush with the floor, but such capping shall allow for those pipes to be tapped by Tenant for future usecovenant of quiet enjoyment. (vi) Re-caulk all perimeter flashing; install new pads under all gas line blocking; repair any loose or open curb or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surface (vii) Repair any existing alligator or pothole areas.

Appears in 1 contract

Samples: Lease Agreement (Cobiz Inc)

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Landlord Improvements. (a) On 2.1 Landlord shall cause the Commencement Datework set forth on Exhibit C attached hereto to be performed, Landlord will deliver the Leased Premises to Tenant in a broom clean condition, and, along with the lighting, electrical (excluding the UPS system and the diesel generator), mechanical and plumbing fixtures, plumbing systems, dock doors and HVAC servicing the Leased Premises, hot water, doors and plate-glass, will be delivered to Tenant in good condition and repair, as defined in Section 5.05 above. (b) After receipt of the Letter of Credit and any required building permit, Landlord will commence and diligently pursue to completion, the construction of the improvements to the Leased Premises at Landlord’s cost (the “Landlord ImprovementsAmendment Work”), subject to the terms and conditions of this Amendment. Subject to delays caused by Force Majeure, or by Tenant (or any of its officers, partners, members, shareholders, directors, contractors, subcontractors, vendors, employees, representatives, affiliates, agents, licensees or invitees), Landlord shall commence the Landlord Amendment Work within thirty (30) days after the mutual execution and delivery of this Amendment and thereafter use commercially reasonable efforts to diligently complete the Landlord Amendment Work in all material respects. 2.2 Landlord shall use commercially reasonable efforts to not unreasonably interfere with Xxxxxx’s permitted use of the Premises while performing the Landlord Amendment Work. Landlord and its contractors, subcontractors, vendors, employees, representatives, affiliates and agents shall have reasonable access to the Premises to perform the Landlord Amendment Work. Tenant acknowledges that the Landlord Amendment Work may, without limitation, temporarily limit access to portions of the Premises, and/or create noise, vibration, dust or debris. Nevertheless, Landlord shall use commercially reasonable and diligent efforts to cause its contractors to take reasonable measures in accordance with plans good construction standards and specifications as shown in Exhibit Bmethods, subject to approval by local regulatory authorities mitigate the same. Tenant hereby agrees that the performance of the Landlord Amendment Work shall not constitute a constructive eviction or entitle Tenant to any abatement (except to the “Plans”extent provided under Sections 10.1.3 and 10.2 of the Original Lease, which provisions shall apply to the Landlord Amendment Work to the extent Tenant is entitled to any remedy thereunder, if at all), which Plans are made a part and Landlord shall not be responsible or liable for any interference, inconvenience or annoyance in connection with the Landlord Amendment Work, provided that Landlord shall comply with its obligation to use commercially reasonable efforts described above; provided, however, if applicable, Tenant shall have its remedies under Sections 10.1.3 or 10.2 of this the Original Lease by referencein connection with Xxxxxxxx’s performance of the Landlord Amendment Work. Any changes Tenant shall cooperate and not interfere (or modifications permit interference) with Landlord in connection with the performance of the Landlord Amendment Work, as Landlord may reasonably direct from time to time. As of the date hereof, Xxxxxx knows of no work, improvement, repair or replacement, other than the Landlord Amendment Work, that Landlord must perform to the Plans must be made and accepted by written change order roof, roof membrane or agreement signed by HVAC systems or equipment (including, but not limited to, ductwork) to comply with its obligations under the Lease. For the avoidance of doubt, Landlord and Xxxxxx acknowledge that Tenant and will constitute an amendment has not obtained what is commonly known as a property condition report with respect to this Lease. Any Landlord Improvements made by Landlord are the property of Landlord and must be surrendered to Landlord upon the termination of this Lease without credit to Tenant. Upon completion of any Landlord Improvements and issuance of a final certificate of occupancy Building’s roof, roof membrane or HVAC systems or equipment (to be applied for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant that all Landlord Improvements have been completed in accordance with the Plans (the “General Contractor’s Certificate”including, but not limited to, ductwork), thereafter Landlord shall provide and Tenant shall acknowledge receipt and acceptance of “as-built plans” of all work done in accordance with this Section 6.01. (c) Landlord shall furnish an allowance of up to $172,800.00 (One hundred seventy-two thousand, eight hundred dollars) (“Landlord Improvement Allowance”) to be credited against 2.3 If there is any increase in the cost of the construction Landlord Amendment Work as a result of Tenant’s failure to cooperate as required herein (or to otherwise comply with the Lease), or any interference by Tenant or any of its officers, partners, members, shareholders, directors, contractors, subcontractors, vendors, employees, representatives, affiliates, agents, licensees or invitees, then Tenant 90 Castilian-AppFolio-First Amendment to Industrial Lease (Final) shall be obligated to pay to Landlord, within thirty (30) days after demand and reasonable documentation of costs, such increased cost. Landlord shall notify Tenant of any such failure to cooperate or interference as soon as reasonably possible after Xxxxxxxx learns of the occurrence of such breach in order to allow Tenant time to mitigate any such costs arising from such alleged breach, but in no event more than thirty (30) days after the date Xxxxxxxx learns of the occurrence of such breach). If Tenant disputes that it is required to pay such amount to Landlord hereunder, then Landlord and Tenant shall have their respective rights and remedies under the Lease, but Landlord shall not suspend or delay performance of the Landlord ImprovementsAmendment Work due to such failure to pay. If Landlord shall not be responsible or liable for any delay in performing any work resulting from Force Majeure, or the actual cost acts or omissions of construction Tenant (or any of the Landlord Improvements is less than the Landlord Improvement Allowance (“Allowance Overage”its officers, partners, members, shareholders, directors, contractors, subcontractors, vendors, employees, representatives, affiliates, agents, licensees or invitees), Tenant shall have no right or claim to such difference; provided howeverincluding, that if there is an Allowance Overagewithout limitation, Landlord, upon submission of supporting documentation by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches for the Leased Premises, but such reimbursement shall not exceed the lesser of the Allowance Overage or 69,120.00 (Sixty-nine thousand, one hundred twenty & xx/100 dollars). If the actual cost of construction of the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord within ten (10) business days after receipt of supporting documentation and the General Contractor’s Certificate,. (d) Notwithstanding anything contained in Section 6.01 (c) above, within 30 days after the issuance of the General Contractor’s Certificate, Landlord will determine the sum of (i) the actual cost of the Landlord Improvements, plus (ii) if any, the actual costs submitted failure by Tenant towards the Contingent Allowance, and the product of the calculation shall be rounded to the next $1,000.00 (One Thousand Dollars). If the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (“Base Rent Reduction Factor”) for each whole $1,000.00 (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment to this Lease. In the event that the monthly Base Rent is reduced in accordance comply with this Section 6.01(d)2, there shall be no reduction in except to the Security Deposit Amount or in extent that Tenant is entitled to rental abatement (if at all) pursuant to the requirements set forth for the Letter terms of Credit. The following example illustrates the intentions Sections 10.1.3 and 10.2 of the parties hereto as to computation of any reduction of the monthly Base Rent: Assumptions: 1. Actual cost of the Landlord Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination of reduction in monthly Base Rent: Total Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition to the Landlord Improvements, Landlord, at Landlord’s sole cost and expense, shall have the following additional work performed on the Leased Premises prior to delivery of possession to Tenant, such work to be coordinated with the construction of the Landlord Improvements: (i) Replace all stained, damaged or missing ceiling tiles, (ii) Paint all walls in the Leased Premises, the color to be designated by Tenant, (iii) Replace all vinyl floor tiles in the open laboratory area as shown in Exhibit C, (iv) Shampoo all carpets in the office areas and hallways and (v) Any existing water supply or drainage pipes in the open lab area that are not initially utilized by Tenant shall be capped and made reasonably flush with the floor, but such capping shall allow for those pipes to be tapped by Tenant for future useOriginal Lease. (vi) Re-caulk all perimeter flashing; install new pads under all gas line blocking; repair any loose or open curb or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surface (vii) Repair any existing alligator or pothole areas.

Appears in 1 contract

Samples: Industrial Lease (Appfolio Inc)

Landlord Improvements. (a) On Landlord shall, at its expense, perform the Commencement Date, work described in Article I hereof. Landlord will deliver the Leased Premises agrees to assign to Tenant any guarantees furnished to Landlord by any contractor, or subcontractor, in connection with such work, such assignment to be furnished at the commencement of the Lease Term. Tenant agrees that Landlord may make any changes in such work, which may become reasonably necessary or advisable, other than substantial changes, without the prior approval of Tenant, provided notice thereof is promptly given to Tenant, and Landlord may make substantial changes in such work, with the prior written approval of Tenant. Landlord covenants that (i) the demised premises shall be completed in a broom clean condition, and, along with the lighting, electrical (excluding the UPS system good and the diesel generator), mechanical and plumbing fixtures, plumbing systems, dock doors and HVAC servicing the Leased Premises, hot water, doors and plate-glass, will be delivered to Tenant in good condition and repair, as defined in Section 5.05 above. (b) After receipt of the Letter of Credit and any required building permit, Landlord will commence and diligently pursue to completion, the construction of the improvements to the Leased Premises (the “Landlord Improvements”), in accordance with plans and specifications as shown in Exhibit B, subject to approval by local regulatory authorities (the “Plans”), which Plans are made a part of this Lease by reference. Any changes or modifications to the Plans must be made and accepted by written change order or agreement signed by Landlord and Tenant and will constitute an amendment to this Lease. Any Landlord Improvements made by Landlord are the property of Landlord and must be surrendered to Landlord upon the termination of this Lease without credit to Tenant. Upon completion of any Landlord Improvements and issuance of a final certificate of occupancy (to be applied for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant that all Landlord Improvements have been completed workmanlike manner in accordance with the Plans plans and specifications referenced in Exhibit B hereto, and (ii) the “General Contractor’s Certificate”)demised premises and Building and the means of access hereto shall be put in compliance with all applicable laws and regulations, thereafter Landlord compliance with which is a condition precedent to the Tenant's lawful occupancy of the demised premises. The demised premises shall provide and Tenant shall acknowledge receipt and acceptance of “as-built plans” of all work done in accordance with this Section 6.01. (c) Landlord shall furnish an allowance of up to $172,800.00 (One hundred seventy-two thousand, eight hundred dollars) (“Landlord Improvement Allowance”) be deemed to be credited against Substantially Complete when the cost standards set forth in clauses (i) and (ii) above are met, other than (with respect to clause (i)) completion of items not reasonably necessary for the use of the construction of demised premises for the purpose for which it is leased hereunder, but the Landlord Improvements. If the actual cost of construction of the Landlord Improvements is less covenants to use diligence to complete such items promptly an din any event no later than the Landlord Improvement Allowance thirty (“Allowance Overage”), Tenant shall have no right or claim to such difference; provided however, that if there is an Allowance Overage, Landlord, upon submission of supporting documentation by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches for the Leased Premises, but such reimbursement shall not exceed the lesser of the Allowance Overage or 69,120.00 (Sixty-nine thousand, one hundred twenty & xx/100 dollars). If the actual cost of construction of the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord within ten (1030) business days after receipt of supporting documentation and the General Contractor’s Certificate,. (d) Notwithstanding anything contained in Section 6.01 (c) above, within 30 days after the issuance Commencement Date. Landlord shall notify Tenant when Landlord's Improvements have advanced sufficiently to permit Tenant to install its equipment and furnishings or to perform any other work to be done by Tenant. Entry by Tenant or its agents for performing any other work shall be permitted by Landlord prior to the commencement date of this Lease. The cost of Landlord's Improvement as described in this section and the General Contractor’s Certificateplans and specifications attached hereto and marked Exhibit B, including without limitation all labor and materials, electricity during the construction period, building permits, charges of architects and engineers retained by Landlord, and insurance relating to such work shall be paid by the Landlord, or, if the Building is sold during construction, Landlord will determine the sum of (i) the actual cost of the Landlord Improvements, plus (ii) if any, the actual costs submitted by Tenant towards the Contingent Allowance, and the product of the calculation shall be rounded provide to the next $1,000.00 (One Thousand Dollars). If the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (“Base Rent Reduction Factor”) for each whole $1,000.00 (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent its successor in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment interest to this Lease. In , funds sufficient to cover the event that the monthly Base Rent is reduced in accordance with this Section 6.01(d), there shall be no reduction in the Security Deposit Amount or in the requirements set forth for the Letter costs of Credit. The following example illustrates the intentions of the parties hereto as to computation of any reduction of the monthly Base Rent: Assumptions: 1. Actual cost of the Landlord Landlord's Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination of reduction in monthly Base Rent: Total Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition to the Landlord Improvements, Landlord, at Landlord’s sole cost and expense, shall have the following additional work performed on the Leased Premises prior to delivery of possession to Tenant, such work to be coordinated with the construction of the Landlord Improvements: (i) Replace all stained, damaged or missing ceiling tiles, (ii) Paint all walls in the Leased Premises, the color to be designated by Tenant, (iii) Replace all vinyl floor tiles in the open laboratory area as shown in Exhibit C, (iv) Shampoo all carpets in the office areas and hallways and (v) Any existing water supply or drainage pipes in the open lab area that are not initially utilized by Tenant shall be capped and made reasonably flush with the floor, but such capping shall allow for those pipes to be tapped by Tenant for future use. (vi) Re-caulk all perimeter flashing; install new pads under all gas line blocking; repair any loose or open curb or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surface (vii) Repair any existing alligator or pothole areas.

Appears in 1 contract

Samples: Lease Agreement (CTC Communications Corp)

Landlord Improvements. (a) On the Commencement DateLandlord agrees to construct, Landlord will deliver the Leased Premises to Tenant in a broom clean conditionat its sole cost and expense, and, along with the lighting, electrical (excluding the UPS system and the diesel generator), mechanical and plumbing fixtures, plumbing systems, dock doors and HVAC servicing the Leased Premises, hot water, doors and plate-glass, will be delivered to Tenant in good condition and repair, as defined in Section 5.05 above. (b) After receipt of the Letter of Credit and any required building permit, Landlord will commence and diligently pursue to completion, the construction of the those improvements to the Leased Premises (the “Landlord Improvements”)) listed on the Scope of Work prepared by Structured Construction Co. dated as of February 19, in accordance with plans and specifications 2001, attached hereto as shown in Exhibit B, subject “F-l”. Landlord agrees to approval use commercially reasonable efforts to require the general contractor employed by local regulatory authorities Landlord to construct the Landlord Improvements (the “Plans”), which Plans are made a part of this Lease by reference. Any changes or modifications to the Plans must be made and accepted by written change order or agreement signed by Landlord and Tenant and will constitute an amendment to this Lease. Any Landlord Improvements made by Landlord are the property of Landlord and must be surrendered to Landlord upon the termination of this Lease without credit to Tenant. Upon completion of any Landlord Improvements and issuance of a final certificate of occupancy (to be applied for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant that all Landlord Improvements have been completed in accordance with the Plans (the “General Contractor’s Certificate”), thereafter Landlord shall provide and Tenant shall acknowledge receipt and acceptance of “as-built plans” of all work done in accordance with this Section 6.01. (c) Landlord shall furnish an allowance of up to $172,800.00 (One hundred seventy-two thousand, eight hundred dollars) (“Landlord Improvement AllowanceContractor”) to complete the Landlord Improvements by July 1, 2001; provided, however, in no event shall the failure to complete the subject Landlord Improvements by said July 1, 2001 date constitute an event of default by Landlord hereunder, nor shall (i) Landlord be credited against liable to Tenant for any damages which Tenant might incur as a result of Landlord Improvements not being completed by said July 1, 2001 date, or (ii) such failure delay the cost Commencement Date hereunder, as Base Rental and Additional Rental shall become due and payable beginning on the Commencement Date irrespective of the construction date of completion of the Landlord Improvements. If Notwithstanding the actual cost foregoing, or any other provision contained herein to the contrary, Landlord acknowledges and agrees that in the event Landlord fails to substantially complete the subject Landlord Improvements within forty-two (42) days of the date this Lease is fully executed by each of Landlord and Tenant for any reason other than Tenant cause delays, then, in such event, the Base Rental and Additional Rental shall be abated day-for-day for each day beyond said forty-two (42) day period that Landlord fails to achieve such substantial completion. For the purposes hereof, substantial completion shall be deemed to have been obtained so long as the unfinished punchlist items do not, in the aggregate, exceed Five Thousand and No/100 Dollars ($5,000.00) in value. Tenant agrees to cooperate with Landlord’s efforts to complete construction of the Landlord Improvements is less than in a timely manner and agrees that neither it, nor its employees, agents, representatives, contractors, or subcontractors shall interfere in any manner with work being conducted by Landlord or the Landlord Improvement Allowance Contractor or its subcontractors. Suite 300 Interior walls 32 lf 4.00 128.00 Carpet & base 460 sf 0.20 92.00 VCT & base 96 sf 0.70 67.20 Doors & frames 2 ea 15.00 30.00 Windows & frames 2 ea 15.00 30.00 Interior walls to grid (9 ft) 71 lf 26.50 1,881.50 Interior walls thru grid (12 ft) 49 lf 35.00 1,715.00 Xxxx perimeter walls (10 ft) 14 lf 35.00 490.00 Cut openings 1 ea 85.00 85.00 Close up openings 1 ea 125.00 125.00 Window xxxx end caps 1 ea 35.00 35.00 Misc. touch up 1 ls 200.00 200.00 Insulation 741 sf 0.45 333.45 2x2 grid, tile & insulation 448 sf 1.85 828.80 Tie in ceiling grid 1 ls 150.00 150.00 Doors & frames 4 ea 295.00 1,180.00 Doors & frames (relocate) 2 ea 55.00 110.00 Window & frames (relocate) 2 ea 55.00 110.00 Closers 1 ea 115.00 115.00 Locksets 3 ea 35.00 105.00 2 coats flat paint 2,772 sf 0.25 693.00 2 coats eggshell paint 1,053 sf 0.28 294.84 Doors & frames 7 ea 35.00 245.00 Frames 2 ea 25.00 50.00 Touch up outside of building 1 ls 250.00 250.00 Final Clean 1 ls 200.00 200.00 Plywood backboards 1 ea 45.00 45.00 Construction clean up / dumpsters 1 ea 425.00 425.00 Concrete pits for levelers 3 ea 2,000.00 6,000.00 6’x8’ 25,000 lb mechanical pit levelers 3 ea 2,400.00 7,200.00 Plywood backboards 1 ea 45.00 45.00 Supervision 2 weeks 850.00 1,700.00 Clean warehouse floor (no seal) 1 ls 628.00 628.00 Permit 1 ls 584.00 584.00 CONTRACTOR OVERHEAD $ 2,920.00 CONTRACTOR FEE $ 5,840.00 CLARIFICATIONS Unit heaters existing to remain No lighting circuits, heater circuits or control wiring included for freezer No power company costs included if required Transformer assumed to be able to support new service Freezer is to be located near panel (100’ of service feeder allowed) Low voltage by tenant Landscaping by others Pit levelers budgeted are by Serco THIS LIEN SUBORDINATION AGREEMENT (this “Agreement”) is made and entered into by and between (“Allowance OverageTenant”), Tenant shall have no right or claim to such difference; provided howeverOAKMONT INDUSTRIAL GROUP I, that if there is an Allowance OverageL.P., a Georgia limited partnership (“Landlord”), upon submission of supporting documentation by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches for the Leased Premises, but such reimbursement shall not exceed the lesser (“Lender”) as of the Allowance Overage or 69,120.00 (Sixty-nine thousandday of , one hundred twenty & xx/100 dollars). If the actual cost of construction of the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord within ten (10) business days after receipt of supporting documentation and the General Contractor’s Certificate,200_. (d) Notwithstanding anything contained in Section 6.01 (c) above, within 30 days after the issuance of the General Contractor’s Certificate, Landlord will determine the sum of (i) the actual cost of the Landlord Improvements, plus (ii) if any, the actual costs submitted by Tenant towards the Contingent Allowance, and the product of the calculation shall be rounded to the next $1,000.00 (One Thousand Dollars). If the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (“Base Rent Reduction Factor”) for each whole $1,000.00 (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment to this Lease. In the event that the monthly Base Rent is reduced in accordance with this Section 6.01(d), there shall be no reduction in the Security Deposit Amount or in the requirements set forth for the Letter of Credit. The following example illustrates the intentions of the parties hereto as to computation of any reduction of the monthly Base Rent: Assumptions: 1. Actual cost of the Landlord Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination of reduction in monthly Base Rent: Total Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition to the Landlord Improvements, Landlord, at Landlord’s sole cost and expense, shall have the following additional work performed on the Leased Premises prior to delivery of possession to Tenant, such work to be coordinated with the construction of the Landlord Improvements: (i) Replace all stained, damaged or missing ceiling tiles, (ii) Paint all walls in the Leased Premises, the color to be designated by Tenant, (iii) Replace all vinyl floor tiles in the open laboratory area as shown in Exhibit C, (iv) Shampoo all carpets in the office areas and hallways and (v) Any existing water supply or drainage pipes in the open lab area that are not initially utilized by Tenant shall be capped and made reasonably flush with the floor, but such capping shall allow for those pipes to be tapped by Tenant for future use. (vi) Re-caulk all perimeter flashing; install new pads under all gas line blocking; repair any loose or open curb or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surface (vii) Repair any existing alligator or pothole areas.

Appears in 1 contract

Samples: Industrial Space Lease Agreement (Garden Fresh Restaurant Corp /De/)

Landlord Improvements. (a) On the Commencement DateExcept as specifically set forth herein, Landlord will deliver shall not be obligated to construct or install any improvements or facilities of any kind in the Leased Premises, and Tenant shall accept the Premises in its currently-existing, "as-is" condition. Notwithstanding the foregoing, Landlord hereby agrees, at Landlord's sole cost and expense, to (i) re-carpet the interior floors of the entire Premises, (ii) clean the VCT tile in the lab area of the Premises, and (iii) apply touch-up paint to the painted surfaces of the interior walls of the Premises to the extent necessary in Landlord’s reasonable discretion (collectively, the "Tenant in a broom clean Improvements"). All such Tenant Improvements shall be completed to Landlord's "Building standard" condition, andusing Building standard methods, along with the lighting, electrical (excluding the UPS system materials and the diesel generator), mechanical and plumbing fixtures, plumbing systems, dock doors and HVAC servicing the Leased Premises, hot water, doors and plate-glass, will be delivered to Tenant in good condition and repair, as defined in Section 5.05 above. (b) After receipt of the Letter of Credit and any required building permit, Landlord will commence and diligently pursue to completion, the construction of the improvements to the Leased Premises (the “Landlord Improvements”)procedures, in accordance with plans and specifications as shown in Exhibit B, subject "Building standard" color or colors (if applicable) to approval be designated by local regulatory authorities (the “Plans”), which Plans are made a part of this Lease by referenceLandlord. Any Tenant shall make no changes or modifications to the Plans must Tenant Improvements without the prior written consent of Landlord, which consent may be made and accepted by written change order or agreement signed by Landlord and Tenant and will constitute an amendment to this Leasewithheld in Landlord's sole discretion. Any Landlord Improvements made by Landlord are the property of Landlord and must The Premises shall be surrendered to Landlord deemed "Ready for Occupancy" upon the termination of this Lease without credit to Tenant. Upon substantial completion of any Landlord Improvements and issuance of a final certificate of occupancy (to be applied for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant that all Landlord Improvements have been completed in accordance with the Plans (the “General Contractor’s Certificate”), thereafter Landlord shall provide and Tenant shall acknowledge receipt and acceptance of “as-built plans” of all work done in accordance with this Section 6.01. (c) Landlord shall furnish an allowance of up to $172,800.00 (One hundred seventy-two thousand, eight hundred dollars) (“Landlord Improvement Allowance”) to be credited against the cost of the construction of the Landlord Improvements. If the actual cost of construction of the Landlord Tenant Improvements is less than with the Landlord Improvement Allowance (“Allowance Overage”)exception of any punch list items and any tenant fixtures, Tenant shall have no right work-stations, built-in furniture, or claim equipment to such difference; provided however, that if there is an Allowance Overage, Landlord, upon submission of supporting documentation be installed by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches for the Leased Premises, but such reimbursement shall not exceed the lesser of the Allowance Overage or 69,120.00 (Sixty-nine thousand, one hundred twenty & xx/100 dollars). If the actual cost of construction of the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord within ten (10) business days after receipt of supporting documentation and the General Contractor’s Certificate,. (d) Notwithstanding anything contained in Section 6.01 (c) above, within 30 days after the issuance of the General Contractor’s Certificate, Landlord will determine the sum of (i) the actual cost of the Landlord Improvements, plus (ii) if any, the actual costs submitted by Tenant towards the Contingent Allowance, and the product of the calculation shall be rounded to the next $1,000.00 (One Thousand Dollars). If the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (“Base Rent Reduction Factor”) for each whole $1,000.00 (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment to this Lease. In the event that the monthly Base Rent is reduced in accordance with this Section 6.01(d)acts or omissions of Tenant or its agents or employees shall delay the substantial completion of the Tenant Improvements, there then the Lease Commencement Date shall be no reduction deemed to be the date the substantial completion of the Tenant Improvements would have occurred but for such acts or omissions of Tenant or its agents or employees. Provided that Tenant and its agents do not interfere with Landlord’s work in the Security Deposit Amount or in Building and the requirements set forth for the Letter of Credit. The following example illustrates the intentions of the parties hereto as to computation of any reduction of the monthly Base Rent: Assumptions: 1. Actual cost of the Premises, Landlord Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination of reduction in monthly Base Rent: Total Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition shall allow Tenant access to the Landlord Improvements, Landlord, at Landlord’s sole cost and expense, shall have the following additional work performed on the Leased Premises prior to delivery Lease Commencement Date for the purpose of possession Tenant installing equipment or fixtures (including Tenant's data and telephone equipment) in the Premises. Prior to Tenant's entry into the Premises as permitted by this agreement, such work to be coordinated with the construction of the Landlord Improvements: (i) Replace all stained, damaged or missing ceiling tiles, (ii) Paint all walls in the Leased Premises, the color to be designated by Tenant, (iii) Replace all vinyl floor tiles in the open laboratory area as shown in Exhibit C, (iv) Shampoo all carpets in the office areas and hallways and (v) Any existing water supply or drainage pipes in the open lab area that are not initially utilized by Tenant shall be capped submit a schedule to Landlord, for its approval, which schedule shall detail the timing and made reasonably flush with purpose of Tenant's entry and Tenant shall deliver to Landlord the floor, but such capping shall allow for those pipes to be tapped by Tenant for future usepolicies or certificates evidencing Tenant's insurance as required under the terms this Lease. (vi) Re-caulk all perimeter flashing; install new pads under all gas line blocking; repair any loose or open curb or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surface (vii) Repair any existing alligator or pothole areas.

Appears in 1 contract

Samples: Lease (Brooklyn ImmunoTherapeutics, Inc.)

Landlord Improvements. (a) On Landlord hereby reserves the Commencement Date, Landlord will deliver the Leased Premises right to Tenant in a broom clean condition, and, along with the lighting, electrical (excluding the UPS system and the diesel generator), mechanical and plumbing fixtures, plumbing systems, dock doors and HVAC servicing the Leased Premises, hot water, doors and plate-glass, will be delivered to Tenant in good condition and repair, as defined in Section 5.05 above. (b) After receipt of the Letter of Credit and any required building permit, Landlord will commence and diligently pursue to completion, the construction of the improvements to the Leased Premises (the “Landlord Improvements”), in accordance with plans and specifications as shown in Exhibit B, subject to approval by local regulatory authorities (the “Plans”), which Plans are made a part of this Lease by reference. Any changes or modifications to the Plans must be made and accepted by written change order or agreement signed by Landlord and Tenant and will constitute an amendment to this Lease. Any Landlord Improvements made by Landlord are the property of Landlord and must be surrendered to Landlord upon the termination of this Lease without credit to Tenant. Upon completion of any Landlord Improvements and issuance of a final certificate of occupancy (to be applied for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant that all Landlord Improvements have been completed in accordance with the Plans (the “General Contractor’s Certificate”), thereafter Landlord shall provide and Tenant shall acknowledge receipt and acceptance of “as-built plans” of all work done in accordance with this Section 6.01. (c) Landlord shall furnish an allowance of up to $172,800.00 (One hundred seventy-two thousand, eight hundred dollars) (“Landlord Improvement Allowance”) to be credited against the cost of the construction of the Landlord Improvements. If the actual cost of construction of the Landlord Improvements is less than the Landlord Improvement Allowance (“Allowance Overage”), Tenant shall have no right or claim to such difference; provided however, that if there is an Allowance Overage, Landlord, upon submission of supporting documentation by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches for the Leased Premises, but such reimbursement shall not exceed the lesser of the Allowance Overage or 69,120.00 (Sixty-nine thousand, one hundred twenty & xx/100 dollars). If the actual cost of construction of the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord within ten (10) business days after receipt of supporting documentation and the General Contractor’s Certificate,. (d) Notwithstanding anything contained in Section 6.01 (c) above, within 30 days after the issuance of the General Contractor’s Certificate, Landlord will determine the sum of (i) the actual cost of the Landlord Improvements, plus (ii) if any, the actual costs submitted by Tenant towards the Contingent Allowance, and the product of the calculation shall be rounded to the next $1,000.00 (One Thousand Dollars). If the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (“Base Rent Reduction Factor”) for each whole $1,000.00 (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment to this Lease. In the event that the monthly Base Rent is reduced in accordance with this Section 6.01(d), there shall be no reduction in the Security Deposit Amount or in the requirements set forth for the Letter of Credit. The following example illustrates the intentions of the parties hereto as to computation of any reduction of the monthly Base Rent: Assumptions: 1. Actual cost of the Landlord Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination of reduction in monthly Base Rent: Total Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition to the Landlord Improvements, Landlordconstruct, at Landlord’s sole cost and expense, additional buildings or any other improvements, alterations, additions or replacement of any nature whatsoever in any area outside the boundary of or attaching to the Improvements and within the Campus (the “Landlord Future Improvements”) which may include the area where the Required Common Areas are constructed, provided Landlord provides relocated or alternative Common Areas as described in Section 1.2(b). (b) Without limiting the generality of the forgoing, Landlord shall have the following additional work performed right to construct, at Landlord’s sole cost, a new building or other improvement, including but not limited to pedestrian walkways connecting the MOB to one or more other structures (e.g., parking garage, medical facilities or office building) (collectively, the “New Building”) adjoining the MOB and connected to the MOB by, among other things, common corridors, elevator lobbies, and elevator banks. A portion of the New Building connecting said New building to the MOB may be located on a portion of the Land. Landlord, however, shall be under no obligation to construct a New Building. In addition, Landlord shall have the right to grant to a third party, that may or may not be affiliated with Landlord, the right to construct a New Building. If and to the extent such Landlord Future Improvements connect or attach to the MOB in any material way, then Tenant and the holder of any leasehold mortgage granted by Tenant shall have the right to review and approve any such plans and their impact on the Leased Premises prior to delivery of possession to TenantMOB, such work approval not to be coordinated unreasonably withheld, conditioned or delayed (provided, however, Tenant and the holder of any leasehold mortgage hereby acknowledge the importance to Landlord of the ability to construct a New Building on the Campus and if Tenant or any leasehold mortgagee do not approve any such plans, they must demonstrate that the construction of the New Building would have a material adverse impact on the MOB or its operation (and competition for tenants shall not be a valid consideration when determining if the New Building would have a material adverse impact on the MOB). If Tenant or any leasehold mortgagee fails to disapprove or comment upon any plans within thirty (30) days after receiving such plans, such plans will be deemed to have been approved. (c) In connection with the construction of a New Building, Landlord shall coordinate with Tenant (each acting reasonably) any entry onto the Landlord Improvements: (i) Replace all stained, damaged or missing ceiling tiles, (ii) Paint all walls in the Leased Premises, the color Property and any work to be designated by Tenant, performed in connection with any material changes to the MOB or the Property, which has been approved as set forth in Section 4.2(b) above. If Landlord constructs a New Building, and regardless of whether such construction results in encroachment upon of permanent use of a portion of the Land or MOB, Landlord shall take or cause its contractor to make commercially reasonable efforts to mitigate or limit noise, dust, disturbance and temporary cessation of utilities and shall provide temporary use of parking and drive areas for staging areas or otherwise in order to mitigate or limit interference with the use and enjoyment of the MOB. Tenant acknowledges that some interference and inconvenience will inevitably result from the construction and attachment of the New Building and so long as Landlord makes a commercially reasonable effort to mitigate or limit the same, Landlord shall not be subjected to any liability therefor, nor shall Tenant be entitled to any compensation (iiiof any kind or amount whatsoever) Replace all vinyl floor tiles in or diminution or abatement of Rent on account thereof, nor shall the open laboratory area as shown in Exhibit C, (iv) Shampoo all carpets in same be deemed a constructive or actual eviction or otherwise be grounds for terminating or modifying this Lease. Landlord shall have the office areas and hallways right, at its sole option, to incorporate or join common utilities and/or other operational aspects of the New Building with the MOB and (v) Any existing water supply or drainage pipes in , if the open lab area that costs for any of the same are not initially utilized by separately metered or allocated, Landlord shall have the right to make a reasonable allocation with respect to such costs and Tenant shall be capped make payment thereof as if such amount were originally contemplated under the terms of this Lease. Tenant (and made any Leasehold Mortgagee (as defined herein) of Tenant) shall execute any cross easement or similar agreements as Landlord may reasonably flush require in connection with the floor, but such capping shall allow for those pipes to be tapped by Tenant for future useNew Building. (vid) Re-caulk Notwithstanding the forgoing, if Landlord does exercise its rights under this Section 4.2, to construct a New Building: (a) the cost thereof shall be borne solely by Landlord; (b) the structural integrity of the MOB shall be assured by Landlord in writing, and Landlord shall indemnify, defend and hold Tenant harmless from and against all perimeter flashingcosts, expenses and damages in the event the structural integrity is compromised in any way; install new pads under all gas line blocking(c) Landlord will restore any portions of the MOB impacted by construction to a condition equal to or better than the condition of the same prior to the construction impact; repair any loose (d) ingress and egress to and from the MOB, and parking for the MOB, shall not be materially adversely affected other than as may reasonably be required on a temporary basis in connection with such construction, and such temporary impacts shall only be permitted if reasonable alternative parking or open curb access is provided; and (e) such attachments and/or connections shall not materially adversely affect Tenant’s or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surfaceTenant’s Occupants’ use of the MOB for the uses permitted hereunder. (viie) Repair Landlord agrees that it shall not solicit any existing alligator tenants of the MOB to become tenants of the New Building if such tenancy in the New Building would become effective prior to the expiration of the tenant’s current lease term in the MOB. If Landlord accepts as a tenant in the New Building any tenant in the MOB who breaks its MOB lease (a “Relocating Tenant”), then Landlord shall be obligated to assume such Relocating Tenant’s lease in the MOB through the balance of the term of such lease. The foregoing shall not apply if Tenant or pothole areasan affiliate of Tenant is the owner or ground lessee of the New Building.

Appears in 1 contract

Samples: Ground Lease Agreement (CNL Healthcare Properties, Inc.)

Landlord Improvements. (a) On In the Commencement Date, event Tenant desires that Landlord will deliver the Leased Premises to Tenant in a broom clean condition, and, along with the lighting, electrical (excluding the UPS system and the diesel generator), mechanical and plumbing fixtures, plumbing systems, dock doors and HVAC servicing the Leased Premises, hot water, doors and plate-glass, will be delivered to Tenant in good condition and repair, as defined in Section 5.05 above. (b) After receipt of the Letter of Credit and any required building permit, Landlord will commence and diligently pursue to completion, the construction of the make capital improvements to the Leased Premises pursuant to this Section 29 (the “Landlord Improvements”), in accordance with plans and specifications as shown in Exhibit B, subject Tenant shall submit a written request to approval by local regulatory authorities (the “Plans”)Landlord, which Plans are made a part details the proposed scope and cost of this Lease by reference. Any changes or modifications to the Plans must be made and accepted by written change order or agreement signed by Landlord and Tenant and will constitute an amendment to this Lease. Any such Landlord Improvements made by Landlord are the property of Landlord and must be surrendered to Landlord upon the termination of this Lease without credit to Tenant. Upon completion of any Landlord Improvements and issuance of (a final certificate of occupancy (to be applied for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant that all Landlord Improvements have been completed in accordance with the Plans (the “General Contractor’s Certificate”), thereafter Landlord shall provide and Tenant shall acknowledge receipt and acceptance of “as-built plans” of all work done in accordance with this Section 6.01. (c) Landlord shall furnish an allowance of up to $172,800.00 (One hundred seventy-two thousand, eight hundred dollars) (“Landlord Improvement AllowanceRequest) ). In the event Landlord elects, in its sole discretion, to be credited against the cost of the construction of the make such Landlord Improvements. If the actual cost of construction of the , Landlord Improvements is less than the Landlord Improvement Allowance shall notify Tenant in writing within thirty (“Allowance Overage”), Tenant shall have no right or claim to such difference; provided however, that if there is an Allowance Overage, Landlord, upon submission of supporting documentation by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches for the Leased Premises, but such reimbursement shall not exceed the lesser of the Allowance Overage or 69,120.00 (Sixty-nine thousand, one hundred twenty & xx/100 dollars). If the actual cost of construction of the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord within ten (1030) business days after receipt of supporting documentation the Landlord Improvement Request, and the General Contractor’s Certificate,. that if Landlord does not respond within such thirty (d30) Notwithstanding anything contained in Section 6.01 (c) above, within 30 days after the issuance of the General Contractor’s Certificateday period, Landlord will determine shall be deemed to have rejected the sum Landlord Improvement Request. If Landlord accepts the Landlord Improvement Request, Landlord and Tenant shall use good faith commercially reasonable efforts to agree on the scope of (i) the actual cost of the such Landlord Improvements, plus including plans and specifications (ii) if any, the actual costs submitted by Tenant towards the Contingent Allowance, and the product of the calculation which shall be rounded to the next $1,000.00 (One Thousand Dollars). If the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (“Base Rent Reduction Factor”) for each whole $1,000.00 (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment to this Lease. In the event that the monthly Base Rent is reduced in accordance with this Section 6.01(d), there shall be no reduction in the Security Deposit Amount or in the requirements set forth for the Letter of Credit. The following example illustrates the intentions of the parties hereto as to computation of any reduction of the monthly Base Rent: Assumptions: 1. Actual cost of the Landlord Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination of reduction in monthly Base Rent: Total Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition to the Landlord Improvements, Landlord, at LandlordTenant’s sole cost and expense, shall have ) (the following additional work performed “Scope of Landlord Work”). In the event Landlord and Tenant agree on the Leased Premises prior to delivery Scope of possession to TenantLandlord Work, such work to be coordinated Landlord shall complete the Landlord Improvements substantially in accordance with the construction agreed upon Scope of the Landlord Improvements: (i) Replace all stained, damaged or missing ceiling tiles, (ii) Paint all walls in the Leased Premises, the color to be designated by Tenant, (iii) Replace all vinyl floor tiles in the open laboratory area as shown in Work and Exhibit C, (iv) Shampoo all carpets in the office areas and hallways and (v) Any existing water supply or drainage pipes in the open lab area that are not initially utilized by Tenant shall be capped and made reasonably flush with the floor, but such capping shall allow for those pipes to be tapped by Tenant for future use. (vi) Re-caulk all perimeter flashing; install new pads under all gas line blocking; repair any loose or open curb or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surface (vii) Repair any existing alligator or pothole areas.

Appears in 1 contract

Samples: Lease Agreement (Valley National Bancorp)

Landlord Improvements. Landlord hereby covenants to improve the Premises by completing the Landlord Improvements as provided on Exhibit B attached hereto and in accordance with all applicable laws, regulations and rules of governmental entities having jurisdiction over the Premises. Substantial Completion (as defined herein) of the Landlord Improvements shall occur, subject to Force Majeure Delay and/or Tenant Delay (as defined below), not later than August 1, 2020 (“Anticipated Substantial Completion Date”). “Substantial Completion” shall occur when (a) On Landlord Improvements have been completed, subject to punch list items, to such extent that would allow Tenant to gain access to the Commencement Date, Landlord will deliver the Leased Premises to Tenant in a broom clean condition, and, along with the lighting, electrical (excluding the UPS system for performance of any work by Xxxxxx and the diesel generator)delivery and installation of its furniture, mechanical fixtures and plumbing fixturesequipment, plumbing systemsand (b) possession of the Premises is tendered to Tenant. For purposes hereof “punch list items” shall be defined as those incomplete items which do not materially interfere with Tenant’s ability to deliver and install its furniture, dock doors fixtures and HVAC servicing equipment or open the Leased PremisesPremises as an educational facility for the operation of a charter school. EXCEPT AS EXPRESSLY SET FORTH TO THE CONTRARY HEREIN, hot water, doors and plate-glass, will be delivered to Tenant in good condition and repair, TENANT ACKNOWLEDGES THAT LANDLORD IS NOT THE CONTRACTOR (as defined in Section 5.05 above5.10 below) FOR THE CONSTRUCTION OF THE LANDLORD IMPROVEMENTS AND IS RELYING UPON THE CONTRACTOR TO CONSTRUCT THE LANDLORD IMPROVEMENTS IN COMPLIANCE WITH THE PLANS. (b) After receipt of the Letter of Credit and any required building permit, Landlord will commence and diligently pursue to completion, the construction of the improvements to the Leased Premises (the “Landlord Improvements”), in accordance with plans and specifications as shown in Exhibit B, subject to approval by local regulatory authorities (the “Plans”), which Plans are made a part of this Lease by reference. Any changes or modifications to the Plans must be made and accepted by written change order or agreement signed by Landlord and Tenant and will constitute an amendment to this Lease. Any Landlord Improvements made by Landlord are the property of Landlord and must be surrendered to Landlord upon the termination of this Lease without credit to Tenant. Upon completion of any Landlord Improvements and issuance of a final certificate of occupancy (to be applied for by Landlord’s general contractor) and certification from Landlord’s general contractor certifying to Tenant that all Landlord Improvements have been completed in accordance with the Plans (the “General Contractor’s Certificate”), thereafter Landlord shall provide and Tenant shall acknowledge receipt and acceptance of “as-built plans” of all work done in accordance with this Section 6.01. (c) Landlord shall furnish an allowance of up to $172,800.00 (One hundred seventy-two thousand, eight hundred dollars) (“Landlord Improvement Allowance”) to be credited against the cost of the construction of the Landlord Improvements. If the actual cost of construction of the Landlord Improvements is less than the Landlord Improvement Allowance (“Allowance Overage”), Tenant shall have no right or claim to such difference; provided however, that if there is an Allowance Overage, Landlord, upon submission of supporting documentation by Tenant, will reimburse Tenant for any third party costs of low voltage wiring and laboratory benches for the Leased Premises, but such reimbursement shall not exceed the lesser of the Allowance Overage or 69,120.00 (Sixty-nine thousand, one hundred twenty & xx/100 dollars). If the actual cost of construction of the Landlord Improvements exceeds the Landlord Improvement Allowance, Tenant shall pay such excess cost to Landlord within ten (10) business days after receipt of supporting documentation and the General Contractor’s Certificate,. (d) Notwithstanding anything contained in Section 6.01 (c) above, within 30 days after the issuance of the General Contractor’s Certificate, Landlord will determine the sum of (i) the actual cost of the Landlord Improvements, plus (ii) if any, the actual costs submitted by Tenant towards the Contingent Allowance, and the product of the calculation shall be rounded to the next $1,000.00 (One Thousand Dollars). If the resultant amount is less than the Landlord Improvement Allowance, Landlord shall reduce the monthly Base Rent by $20.25 (“Base Rent Reduction Factor”) for each whole $1,000.00 (One Thousand Dollars) of such amount effective January 1, 2012. If it is determined that the monthly Base Rent is to be reduced and if Tenant has already paid Base Rent in a pre-reduction amount, Landlord shall give Tenant credit for any such excess payment, and reduction in monthly Base Rent shall be memorialized in an amendment to this Lease. In the event that the monthly Base Rent is reduced in accordance with this Section 6.01(d), there shall be no reduction in the Security Deposit Amount or in the requirements set forth for the Letter of Credit. The following example illustrates the intentions of the parties hereto as to computation of any reduction of the monthly Base Rent: Assumptions: 1. Actual cost of the Landlord Improvements: $100,000.00 2. Actual cost of qualifying costs for Contingent Allowance: $50,500.00 Total cost of Landlord Improvements and Contingent Allowance Costs: ($100,000.00 + $50,500.00) = $150,500.00 Determination of reduction in monthly Base Rent: Total Landlord Improvement Allowance $ 172,800.00 Less total cost of Landlord Improvements and contingent costs 150,500.00 $ 22300.00 Rounded to next $1,000.00 (One Thousand Dollars) $ 23,000.00 Divided by $1,000.00 (One Thousand Dollars) 1,000.00 Base Rent Reduction Factor 20.25 Reduction in monthly Base Rent $ 465.75 (e) In addition to the Landlord Improvements, Landlord, at Landlord’s sole cost and expense, shall have the following additional work performed on the Leased Premises prior to delivery of possession to Tenant, such work to be coordinated with the construction of the Landlord Improvements: (i) Replace all stained, damaged or missing ceiling tiles, (ii) Paint all walls in the Leased Premises, the color to be designated by Tenant, (iii) Replace all vinyl floor tiles in the open laboratory area as shown in Exhibit C, (iv) Shampoo all carpets in the office areas and hallways and (v) Any existing water supply or drainage pipes in the open lab area that are not initially utilized by Tenant shall be capped and made reasonably flush with the floor, but such capping shall allow for those pipes to be tapped by Tenant for future use. (vi) Re-caulk all perimeter flashing; install new pads under all gas line blocking; repair any loose or open curb or wall flashing; repack all pitch pans; repair any open joints on gravel guard; repair any loose scupper flashing; clean, prime and install EPDM peel and stick tape to all roof side tilt wall joints; clean all debris from around drains and entire roof; install Xxxxxx 97 asbestos free aluminum coating to entire roof surface (vii) Repair any existing alligator or pothole areas.

Appears in 1 contract

Samples: Build to Suit Lease and Option

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