Common use of Tenant Improvements/Leasing Commissions Clause in Contracts

Tenant Improvements/Leasing Commissions. There are ongoing tenant improvements being undertaken at certain of the Individual Properties by Seller and/or its agents, as set forth on Exhibit TBO 1998 attached hereto and by this reference made a part hereof. Buyer and Seller have agreed that at Closing there will be an adjustment to the Purchase Price (in favor of Buyer) in the amount of Two Million Seventy-Two Thousand Four Hundred Eighty-Eight Dollars ($2,072,488) on account of such tenant improvements which are then uncompleted or not yet fully paid for and that such adjustment is intended as full and complete satisfaction of any and all claims and a full discharge of all of Seller's responsibilities with respect to such tenant improvements. Buyer agrees to indemnify and hold harmless Seller and each Owner from and against any and all claims by third parties with respect to such tenant improvement work.) 6. The Agreement is hereby amended by adding to Section (e) of Article 8 thereof the following sentence: Each Owner further represents and warrants to Buyer,only with respect to the Individual Property or Individual Properties to be conveyed to Buyer by such Owner, that there exists no tenant improvement work for which such Owner is responsible for payment other than any such work described on(Exhibit TBO 1998.)