FIFTH
LEASE AMENDMENT
THIS LEASE AMENDMENT, dated
December 4, 2006 by and between Germantown, L.P., Limited Partnership
organized and existing under the laws of the State of Tennessee
(‘‘Landlord’’), with its principal offices at
c/o Investec Realty Services, LLC, 0000 Xxxxxx Xxxx, Xxxxx 000 Xxxxxxx,
XX 00000, (Federal I.D. 00-0000000) and TeamStaff, Inc.
(‘‘Tenant’’), with its principal office at
000 Xxxxxx Xxxxx, Xxxxxxxx, Xxx Xxxxxx 00000. The Landlord and
Nursing Innovations, Inc. executed a Lease Agreement dated March 28,
2001 and amended January 24, 2002, April 5, 2004, March 3, 2005, and
September 23, 2005. The Lease Agreement was assigned to Tenant
effective January 6, 2005. The space comprises 0000 Xxxxxxxx Xxxxxx
Feet. The parties hereto desire to alter and modify said Lease
Agreement, effective January 1, 2007 as
follows:
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1. |
LEASE
TERM: Tenant will extend the term of its Lease for an
additional thirty-seven (37) months effective January 1, 2007 and
expiring January 31,
2010. |
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2. |
SQUARE
FOOTAGE: Tenant’s square footage will decrease
from 5,777 rentable square feet to 1894 rentable square feet. This
includes a 12% common area
factor. |
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3. |
TENANT
IMPROVEMENTS: Landlord will provide Tenant with a
Tenant Improvement Allowance of $5.00 per rentable square foot for
construction of the premises. Should construction costs exceed the
aforementioned amount, Tenant shall reimburse Landlord all costs in
excess, within thirty (30) days after receipt of an invoice from
Landlord to Tenant. |
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4. |
OPTIONS
TO EXTEND: Tenant shall have one (1) Option to extend
the lease for all or part of the premises for an additional two (2)
years at fair market rate with one hundred and twenty (120) days prior
written notice. |
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5. |
RENTAL
RATE: Tenant’s monthly rent for the term of this
Lease Amendment shall be as
follows: |
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| Period
Rate/RSF |
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Monthly
Rent |
| 01/01/07 – 01/31/07
$0.00 |
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$0.00 |
| 02/01/07 – 01/31/08
$18.00 |
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$2,841.00 |
| 02/01/08 – 01/31/09
$18.36 |
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$2,897.82 |
| 02/01/09 – 01/31/10
$18.73 |
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$2,956.21 |
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Except as
specifically amended and modified by this Lease Amendment, all other
terms of the Lease and the Exhibits attached thereto remain in full
force and effect.
IN WITNESS WHEREOF, the Landlord and
the Tenant have executed or caused to be executed this Amendment on the
dates shown below their signatures to be effective as of the date set
forth
above.
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| Tenant: |
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TeamStaff,
Inc. |
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Landlord: |
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Germantown, L.P. a Tennessee
Limited
Partnership |
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By: |
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Xxxxx
PPC, Inc. a Delaware Corporation
Its General
Partner |
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| By /s/
Xxxxx X.
Xxxxxxx |
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(SEAL) |
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By /s/
Xxxxxx
Xxxxxxx |
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(SEAL) |
| (Print
Name) Xxxxx X.
Xxxxxxx |
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(Print
Name) Xxxxxx
Xxxxxxx |
| Title VP,
General
Counsel |
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Title VP |
| Attest /s/
Xxxxxx
Xxxxxx |
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Attest /s/
Xxxxx X.
Xxxxxx |
| (Print
Name) Xxxxxx
Xxxxxx |
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(Print
Name) Xxxxx X.
Xxxxxx |
| Title |
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Title |
| (Corporate
Seal) |
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(Corporate
Seal) |
| Date December
13,
2006 |
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Date December
19,
2006 |
| Signed
and sealed in the presence of: |
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Signed and sealed in the
presence
of: |
| (1) /s/
Xxxxxxxxx X.
Xxxxxx |
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(1) /s/
Xxxxxxx
Xxxxxx |
| (Print
Name) Xxxxxxxxx X.
Xxxxxx |
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(Print
Name) Xxxxxxx
Xxxxxx |
| (2) |
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(2) |
| (Print
Name) |
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(Print
Name) |
| As
to Tenant |
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As to
Landlord |
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