AMENDED AND RESTATED OFFICE LEASE BY AND BETWEEN MERRITT-LT1, LLC, LANDLORD AND NEUSTAR, INC., TENANT
Exhibit 99.2
AMENDED AND RESTATED OFFICE LEASE
BY AND BETWEEN
XXXXXXX-LT1, LLC, LANDLORD AND
NEUSTAR, INC., TENANT
BY AND BETWEEN
XXXXXXX-LT1, LLC, LANDLORD AND
NEUSTAR, INC., TENANT
1. TERM; RENEWAL OPTIONS
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1 | |||
2. RENTAL
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2 | |||
3. USE
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3 | |||
4. SERVICE AND UTILITIES
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3 | |||
5. OPERATING COSTS
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4 | |||
6. REPAIRS AND MAINTENANCE
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6 | |||
7. COMPLIANCE WITH LAWS
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8 | |||
8. ASSIGNMENT AND SUBLETTING
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9 | |||
9. INCREASE IN LANDLORD’S INSURANCE RATES
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10 | |||
10. INSURANCE — INDEMNITY
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10 | |||
11. ALTERATIONS
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14 | |||
12. OWNERSHIP OF ALTERATIONS
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15 | |||
13. DEFAULT
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15 | |||
14. DAMAGE OR DESTRUCTION
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17 | |||
15. POSSESSION
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18 | |||
16. EXTERIOR OF PREMISES — SIGNS
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18 | |||
17. PARKING
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19 | |||
18. FOR RENT/SALE SIGNS
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19 | |||
19. WATER AND OTHER XXXXXX
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00 | |||
00. RIGHT OF ENTRY
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19 | |||
21. TERMINATION OF TERM
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20 | |||
22. CONDEMNATION
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20 | |||
23. SUBORDINATION; NON-DISTURBANCE
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21 | |||
24. ATTORNMENT
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21 |
25. NOTICES TO MORTGAGEE
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22 | |||
26. ESTOPPEL CERTIFICATE
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22 | |||
27. LANDLORD’S RIGHT TO PERFORM TENANT’S COVENANTS
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22 | |||
28. NON-WAIVER OF FUTURE ENFORCEMENT
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22 | |||
29. PERSONAL PROPERTY TAXES
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23 | |||
30. RECORDATION OF LEASE
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23 | |||
31. SEVERABILITY
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23 | |||
32. NON-WAIVER
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23 | |||
33. SUCCESSORS AND ASSIGNS
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24 | |||
34. SECURITY DEPOSIT
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24 | |||
35. BANKRUPTCY
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25 | |||
36. ENVIRONMENTAL PROVISIONS
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28 | |||
37. RULES AND REGULATIONS
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29 | |||
38. CAPTIONS
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29 | |||
39. FINAL AND ENTIRE AGREEMENT
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29 | |||
40. BROKERS
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30 | |||
41. COUNTERPARTS
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30 | |||
42. AUTHORITY
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30 | |||
43. NOTICES
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30 | |||
44. TENANT REPRESENTATIVE
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30 | |||
45. WAIVER OF JURY TRIAL
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30 | |||
46. SUBMISSION NOT AN OFFER
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31 | |||
47. TENANT INSTALLATIONS
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31 | |||
49. HOURS OF OPERATION
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32 | |||
50. TIME
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32 |
ii
THIS
AMENDED AND RESTATED OFFICE LEASE (the “Lease”), is
made this 29th day of May, 2009, by
and between XXXXXXX- LT1, LLC, a Maryland limited liability company, hereinafter called
“Landlord,” and NEUSTAR, INC., a Delaware corporation, hereinafter called “Tenant.”
RECITALS
A. Landlord and Tenant entered into an Amendatory Lease Agreement dated May 16, 2001, which
amended a Lease dated May 19, 2000, for premises located in Building X, Loudoun Tech Center,
00000 Xxxxxx Xxx Xxxxx, Xxxxxxxx, Xxxxxxxx 00000, as subsequently amended (collectively, the
“Original Lease”).
B. The parties wish to amend the Original Lease to provide, inter alia, that Tenant will lease
the entire Building and the term of the Original Lease shall be extended.
C. The Landlord and Tenant now wish to amend and restate the Original Lease in its entirety to
memorialize such new or modified terms and provisions, as hereinafter provided.
WITNESSETH
NOW, THEREFORE, in consideration of the premises, and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the Landlord and the Tenant agree that
the foregoing Recitals are true and correct and are incorporated herein by reference, and further
agree to amend and restate the Original Lease in its entirety as follows:
WITNESSETH, that in consideration of the rental hereinafter agreed upon and the performance of
all the conditions and covenants hereinafter set forth on the part of the Tenant to be performed,
the Landlord does hereby lease unto the said Tenant, and the latter does lease from the former the
following premises (hereinafter sometimes called the “Premises”):
Being all those Premises outlined in red on the Lease Plan attached hereto as
Exhibit A, said Premises containing approximately 60,178 rentable square
feet and comprising all of the rentable square footage in the Building (as
hereinafter defined). The Tenant’s space, being located within the building
(hereinafter sometimes called the “Building”) known as “Building X,” is situate on a
parcel of land (hereinafter sometimes called the “Property”) located in the
development known generally as Loudoun Tech Center (the “Park”), at 00000 Xxxxxx Xxx
Xxxxx, Xxxxxxxx, Xxxxxxx Xxxxxx, Xxxxxxxx 00000.
This Lease is made subject to the following additional terms, covenants and conditions:
1. Term; Renewal Options.
(a) The
term of this Lease shall be for a period of ten (10) year(s), beginning on
September 1, 2010 (the “Lease Commencement Date”). Landlord agrees that it will, prior to the
Lease Commencement Date, at its sole cost and expense, commence and pursue to completion the
Landlord’s Work set forth on Exhibit B attached hereto.
(b) Provided there is no existing Event of Default by Tenant hereunder, Landlord hereby
grants to Tenant the right to renew the Lease for up to four
(4) additional terms of five (5)
years each by giving Landlord written notice of Tenant’s election to exercise any such renewal
option not later than 365 days prior to the commencement of the applicable renewal term. In the
event any option is exercised in a timely manner, the Lease shall be extended for the applicable
renewal term under the same terms and conditions as are set forth in the Lease, except that there
shall be no further renewal options after the fourth renewal term and the base rent, which shall
not include additional rent required under this Lease for Operating Costs, CAM, and similar
expenses charged hereunder (the “Base Rent”), shall be increased annually during each year of the
renewal terms to a rental rate equal to 102.50% of the Base Rent for the immediately preceding
year.
2. Rental.
(a) As used herein, the “First Rental Year” shall mean the period from the Lease Commencement
Date to the end of the twelfth (12th) full calendar month thereafter; subsequent Lease years shall
commence on the first (1st) day of the next month of the Lease term and on each anniversary
thereafter. The Base Rent shall be as follows:
Term | Annual Rate | Monthly Rate | Per Sq. Ft. | |||||||||
9/1/10 – 8/31/11 |
$ | 1,113,293.00 | $ | 92,774.42 | $ | 18.50 | ||||||
9/1/11 – 8/31/12 |
$ | 1,140,974.88 | $ | 95,081.24 | $ | 18.96 | ||||||
9/1/12 – 8/31/13 |
$ | 1,169,258.54 | $ | 97,438.21 | $ | 19.43 | ||||||
9/1/13 – 8/31/14 |
$ | 1,198,745.76 | $ | 99,895.48 | $ | 19.92 | ||||||
9/1/14 – 8/31/15 |
$ | 1,228,834.76 | $ | 102,402.90 | $ | 20.42 | ||||||
9/1/15 – 8/31/16 |
$ | 1,259,525.54 | $ | 104,960.46 | $ | 20.93 | ||||||
9/1/16 – 8/31/17 |
$ | 1,290,818.10 | $ | 107,568.18 | $ | 21.45 | ||||||
9/1/17 – 8/31/18 |
$ | 1,323,314.22 | $ | 110,276.19 | $ | 21.99 | ||||||
9/1/18 – 8/31/19 |
$ | 1,356,412.12 | $ | 113,034.34 | $ | 22.54 | ||||||
9/1/19 – 8/31/20 |
$ | 1,390,111.80 | $ | 115,842.65 | $ | 23.10 |
Tenant covenants and agrees to pay all rentals reserved hereunder to Landlord, without notice or
demand, in advance, on the first (1st) day of each month during the term of this Lease, without
setoff or deduction, except as set forth in Section 14. The rental for any fractional monthly
periods at the beginning or at the end of each Lease year shall be prorated on a per diem basis and
shall be payable on the date upon which the Lease term commences, and on the first (1st) day of the
last partial month of the Lease term, respectively. Tenant covenants and agrees that it will not
prepay any rent more than one (1) month in advance without Landlord’s prior written consent.
(b) All rentals shall be paid to XXXXXXX PROPERTIES, LLC c/x Xxxxxxx, 0000 Xxxx Xxxxxxxxx
Xxxxx, Xxxxxxxxx, Xxxxxxxx 00000, or at such other place or to such appointee of the Landlord
as the Landlord may from time to time designate in writing.
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3. Use.
Tenant covenants and agrees to use and occupy the Premises solely for the following purposes:
Offices for the use of Tenant, its officers, agents and employees, and other uses incidental
thereto not prohibited by applicable law, including without limitation administration, training
(for Tenant or Tenant’s customers or clients), food preparation by Tenant’s employees or caterers
hired by Tenant for the employees’ own consumption in kitchens provided for such employees, data
center, call center, light assembly (such as electronic lab work, software development, systems
integration, assembly of boxes, and the like) and a private fitness center for use by Tenant’s
employees. Tenant agrees to comply with all applicable zoning and other laws and regulations, and
to provide and install at its own expense any additional equipment or alterations required to
comply with all such laws and regulations as required from time to time (excluding any equipment
or alterations required by law in all buildings of similar use or zoning in the jurisdiction
containing the Building). Tenant further agrees not to make, or cause or permit to be made, any
use of the Premises which shall constitute a nuisance or shall interfere with the rights of other
tenants in the Building to quietly enjoy, use and occupy the Premises leased by them and the
common areas of the Building, or which shall overburden the available parking provided by Landlord
at a rate equal to four parking spaces per 1,000 square feet of leaseable demised premises. Tenant
will not permit, allow or cause any public or private auction sales
or sheriffs’ or constables’
sales to be conducted on or from the Premises.
4. Service and Utilities.
(a) Subject to the provisions of subsection (c) below, Landlord agrees that all hot and cold
water, sewer, electricity, gas, telephone and other utilities are available and shall be supplied
to the Premises in sufficient quantities to meet Tenant’s reasonably anticipated
requirements for general office use.
(b) Tenant agrees to pay to Landlord as additional rent, all water rent and sewer service
charges chargeable to the Building. Tenant shall pay to Landlord all costs of electricity, gas,
telephone and other utilities used or consumed on the Premises, together with all taxes, levies or
other charges on such utilities.
(c) Landlord agrees to provide the above-listed utilities. Landlord also agrees to provide
maintenance, repair and refurbishing for the roof, exterior Building, exterior site, and Building
utility systems and fire and life safety systems (but excluding the HVAC system Tenant installed
for use in LAN rooms and any other specialty equipment hereinafter installed by Tenant, including
but not limited to a specialty fire suppression system or an emergency electrical generator (the
“Tenant’s Specialty Equipment”)); and landscaping, maintenance, repair, refuse removal (it being
understood that Tenant will be responsible for maintenance, repair and replacement of the Tenant’s
Specialty Equipment), window cleaning, snow removal, illumination of the parking and common areas
within the Property, and access to and use of the Property twenty-four hours per day, seven days
per week. In addition, Landlord shall provide janitorial services for the interior of the
Premises throughout the term of the Lease.
(d) Landlord shall not be in default hereunder or be liable for any damages directly or
indirectly resulting from, nor shall the rent be abated by reason of (i) the installation,
3
use of interruption of use of any equipment in connection with the furnishing of any of the
services to be furnished by Landlord as set forth in this Lease; (ii) failure to furnish or delay
in furnishing any such services where such failure or delay is caused by accident or any condition
or event beyond the reasonable control of Landlord, or by the making of necessary repairs or
improvements to the Premises or Building; or (iii) the limitation, curtailment or rationing of, or
restrictions on, use of water, gas or any other form of energy serving the Premises or Building;
except in each case to the extent caused by Landlord’s negligence or willful acts or that of
Landlord’s agents, employees, contractors, invitees or licensees. Landlord shall not be liable
under any circumstances for a loss of or injury to property or business, however occurring, through
or in connection with or incidental to failure to furnish any such services, except to the extent
caused by Landlord’s negligence or willful acts or that of Landlord’s agents, employees,
contractors, invitees or licensees. Notwithstanding the foregoing, if such failure to provide
services is caused by Landlord’s negligence or willful misconduct and shall continue for five (5)
consecutive days, then all rent shall be abated from the sixth (6th) day until such
services are fully restored.
5. Operating Costs.
(a) “Operating Costs” are the reasonable costs of managing, operating, maintaining,
repairing, refurbishing and insuring the Building and all common areas and facilities within the
Property (including, but not limited to, elevators, stairwells, loading areas, parking areas,
pavements and walkways, landscaping, gardening, storm drainage, and other utility systems); the
cost of utilities for such common areas and facilities; fire protection and security services, if
any; traffic control equipment; repairs; parking lot striping; lighting; sanitary control;
janitorial services; removal of trash, rubbish, garbage and other refuse; depreciation on or
rentals of machinery and equipment used in such maintenance over its useful life on a straight
line basis; the cost of personnel on-site to implement such services; all insurance of whatsoever
nature kept, or caused to be kept, by Landlord out of or in connection with the ownership of the
Building and common areas, including, but not limited to, insurance insuring the same against loss
or damage by, or abatement of rental income resulting from, fire and other such hazards,
casualties, and contingencies, and liability and indemnity insurance; plus the actual
administrative and overhead costs of Landlord’s on-site building engineer, building manager or
maintenance worker in conformance with Landlord’s current practice as of the date of this Lease.
Such costs shall not include (i) the cost of any capital improvements or capital expenditures in
or to the Building, the Property or the Premises as determined under generally accepted accounting
principles; (ii) work which Landlord performs specifically for or at the expense of any other
tenant of the Building; (iii) maintenance of the HVAC system serving the Premises and maintenance
of any other HVAC systems serving other portions of the Building; (iv) trash removal from the
dumpster located on the exterior of the Building; (v) costs related to ground rent, interest or
debt service; (vi) penalties, fines or late charges, or any other costs which may be incurred as
the result of the negligent or willful misconduct of Landlord or Landlord’s agents, employees,
invitees, licensees and contractors; (vii) any amounts payable to Landlord or any affiliate of
Landlord, except payment for services rendered where the charges for such services are reasonably
commensurate with the charges for similar services provided by similarly qualified persons in the
geographical location in which the Property is located; (viii) management fees in excess of four
percent (4%) of gross rent received by Landlord; (ix) depreciation;
4
(x) reserves; (xi) any reimbursed expense; (xii) legal and accounting fees; (xiii) environmental
clean-up expenses; (xiv) Landlord’s overhead and administrative expenses for off-site personnel;
(xv) leasing or sales commissions, marketing costs or promotional expenses; or (xvi) costs
relating to casualty or condemnation. “Operating Costs” shall also include all taxes and
assessments (as hereinafter defined) levied or assessed against the Property and Building, whether
as a result of an increase in the tax rate, or the levy, assessment or imposition of any tax on
real estate as such not now levied, assessed or imposed, including, without limitation,
assessments, fees or charges of the Loudoun Tech Owner’s Association, its successors or assigns,
or other community or neighborhood association. The foregoing shall apply to real estate taxes
assessed against the common areas or Building generally, and resulting from any improvements
placed thereon by Tenant. “Taxes” as used herein shall also include, but not by way of limitation,
all paving taxes, special paving taxes, special taxing district assessments and any and all other
benefits or assessments which may be levied on the Property or the Building, but shall not include
any income tax (on the income or rent payable hereunder or otherwise), and shall not include taxes
or assessments related to other buildings or improvements located within the Property, franchise,
transfer, inheritance or capital stock taxes. “Taxes” shall also include all reasonable expenses
incurred by Landlord (including reasonable attorneys’ fees and costs) in contesting any increase
in, or applying for any reduction of, a tax assessment.
(b) “CAM” shall mean the total costs incurred by Landlord for the operation, maintenance,
repair, insuring and management of all common facilities within Landlord’s entire property,
consisting of approximately forty-three (43) acres (the
“Park”) including, but not limited to,
common roads, snow removal, lighting of common areas, Taxes payable by Landlord, or its
successors, with respect thereto and other similar operational and maintenance expenses. CAM shall
not include any Operating Costs incurred or payable in connection with any other buildings (and
their adjacent parking and common areas) within the Park, it being intended that CAM shall include
only such costs which are incurred by Landlord for the common benefit of all tenants of the Park,
such as access roads, illumination thereof, etc.
(c) Tenant shall pay Landlord its proportionate share of Operating Costs throughout the Lease
term, which proportionate share is the same proportion which the rentable square foot area of the
Premises (60,178 rentable square feet) bears to the total rentable square foot area of the
Building (60,178 square feet) or one hundred percent (100%) (“Tenant’s Percentage”). Tenant shall
also pay Landlord its proportionate share of CAM, which shall be determined by dividing the total
rentable square foot of the Building by the total rentable square foot area of all improvements
within the Park (392,289 rentable square feet) and multiplying the same by Tenant’s Percentage.
(d) Anything in this Lease to the contrary notwithstanding, Tenant shall pay to Landlord, as
additional rent, an amount equal to the product obtained by multiplying the number of rentable
square feet comprising the Premises by the actual cost per rentable square foot of (i) water,
sewer, gas, electric and all other utility services for the Property or Park, including but not
limited to utilities for the heating and cooling of the Building (both common areas and space
leased to tenants), and (ii) snow and ice removal and all costs associated with such snow and ice
removal. To the extent that any such costs are excluded from the calculation of Operating
5
Expenses or CAM or are billed separately to Tenant under this Section 5(d) or otherwise, the same
shall not also be included in “Operating Expenses” or as part of “CAM” under this Section 5.
(e) Landlord shall notify Tenant from time to time of the amount which Landlord estimates
will be the amount payable by Tenant in accordance with subsections (b) and (c) above, and Tenant
shall pay such amounts to Landlord in equal monthly installments, in advance, on the first day of
each month, simultaneously with payments of the rent reserved pursuant to Section 2 hereof. On or
before April 30th of each year of the term, Landlord shall submit to Tenant a statement
showing the actual amounts incurred by Landlord as set forth in subsections (b) and (c), the amount
theretofore paid by Tenant, and the amount of the resulting balance due thereon, or overpayment
thereof, as the case may be. In the event any balance may be due by Tenant, Tenant shall pay said
balance within thirty (30) days from the date of such statement. In the event Tenant has made any
overpayment, such overpayment shall be credited by Landlord against the next installment or
installments of rent and Operating Costs which are due and payable hereunder, or if the term of
this Lease has expired, such overpayment shall be refunded by Landlord to Tenant, without interest,
within thirty (30) days after the date of such statement. Each such statement submitted by
Landlord shall be final and conclusive between the parties hereto as to the matters therein set
forth, if no objection is raised with respect thereto within one hundred fifty (150) days after
submission of each such statement, except to the extent that (a) if an error or omission is
discovered in a subsequent year which resulted in an overcharge to Tenant of five percent (5%) or
more, then Tenant shall have the right, by written notice to Landlord within thirty (30) days after
such overcharge is discovered, to audit Landlord’s records with respect to the preceding two Lease
years, or (b) if there is fraud or misrepresentation of a material item in Landlord’s statement
with respect to Operating Costs or CAM for any Lease year, Tenant shall have the right, by written
notice to Landlord within thirty (30) days after Tenant’s discovery thereof, to audit Landlord’s
books and records pertaining to Operating Costs and CAM for all prior Lease years.
(f) Notwithstanding any of the foregoing provisions of this Section 5, (i) Operating
Costs, as used herein, shall be allocated only to the Building and all land and common area and
facilities, including parking areas, which are directly adjacent, allocated and dedicated to the
Building, (ii) the allocation of all direct and indirect personnel costs shall be equitably spread
across all of the buildings and sites in the entire Park, and not just against the leased portions
of the buildings in the Park, (iii) the allocation of CAM fees shall not be charged or allocated
against vacant office space in the Park, and (iv) Tenant shall have thirty (30) days from the date
of Tenant’s receipt of the year end invoice to pay its pro rata share of Operating Costs and CAM.
6. Repairs and Maintenance.
(a) Except as expressly provided in Section 4(c), this Section 6 or Exhibit B,
Landlord shall be under no liability, nor have any obligation to do any work or make any
repairs in or to the Premises, and any work which may be necessary to outfit the Premises for
Tenant’s occupancy or for the operation of Tenant’s business therein is the sole responsibility of
Tenant and shall be performed by Tenant at its own cost and expense. Tenant acknowledges that it
is in
6
possession of the Premises and has fully inspected the Premises prior to execution of this Lease,
and that Landlord has made no warranties or representations with respect to the condition or state
of repairs of the Premises except as specifically provided in this Lease. In furtherance of its
obligations under Section 4(c), Landlord shall make all structural repairs to the roof, walls and
foundations of the Building as needed and shall maintain and repair all Building systems
(excluding the Tenant’s Speciality Equipment), all common areas, grounds and land in reasonably
good condition. Notwithstanding the foregoing, other than routine periodic maintenance, Tenant
(and not Landlord) shall be responsible for the repairs of any items if the necessity therefor was
caused in whole or primarily in part by the gross negligent act or omission or misuse of Tenant,
its agents, officers, employees, contractors, licensees, sublessees or invitees (except to the
extent the cost of such work is provided through insurance maintained by Landlord under this
Lease).
(b) Tenant, at Tenant’s sole expense, shall, except for services furnished by Landlord
pursuant to Section 4 and this Section 6, maintain the Premises in good order, condition, and
repair, including the Tenant’s Speciality Equipment and the interior surfaces of the ceilings,
walls and floors and all doors and all interior windows. Tenant shall also be responsible for the
cost to maintain at all times in good order, condition and repair, the Tenant’s Speciality
Equipment, whether the same was installed initially, or at a later date, by Landlord or by Tenant.
The costs incurred by Landlord to maintain such LAN HAVAC (if not properly maintained by Tenant)
shall be billed to Tenant as additional rent, and shall be payable by Tenant within thirty (30)
days following receipt of the billing statement.
(c) Tenant shall be responsible for all repairs in and to the Building the need for which
arises out of (i) the moving of Tenant’s property into or out of the Building; or (ii) any
negligence of Tenants, its agents, contractors, employees or invitees (except to the extent that
the cost thereof is covered by insurance maintained by Landlord under this Lease).
(d) If Tenant fails to maintain the Premises in good order, condition and repair, Landlord may
give Tenant notice to do such acts as are reasonably required to so maintain the Premises. If
Tenant fails to commence such work promptly and diligently prosecute it to completion, Landlord
shall have the right, following not less than ten (10) days’ prior written notice to Tenant (except
if such failure results in an emergency condition, the notice period may be reduced commensurate
with such emergency), to do such acts and expend such funds at the expense of Tenant as are
reasonably required to perform such work. Any amount so expended by Landlord shall be paid by
Tenant within fifteen (15) days after demand, with interest from the date of such work, at a rate
equal to the prime commercial rate of interest published by the Wall Street Journal closest
to the date such work was commenced. Landlord shall have no liability to Tenant for any damage,
inconvenience or interference with the use of the Premises by Tenant as a result of performing any
such work.
(e) Tenant shall not place a load upon any floor of the Premises which exceeds the load per
square foot which such floor was designed to carry two hundred pounds per square foot. Landlord
reserves the right to consult with its structural engineer if necessary, in Landlord’s opinion, to
resolve any questions concerning this matter, in which event the determination of the
7
engineer shall be conclusive and the cost of any such determination shall be paid for by Tenant
upon demand. Tenant shall not install business machines or mechanical equipment which cause noise
or vibration to such a degree as to be reasonably objectionable to Landlord or other Park tenants.
(f) Except as otherwise expressly provided in this Lease, Landlord shall have no liability to
Tenant nor shall Tenant’s obligations under this Lease be reduced or abated in any manner
whatsoever by reason of any inconvenience, annoyance, interruption or injury to business arising
from Landlord’s making any repairs or changes which Landlord is required or permitted by this Lease
or by any other tenant’s lease or required by law to make in or to any portion of the Building or
the Premises, absent the negligent or willful acts or omissions of Landlord or Landlord’s agents,
employees, contractors, invitees or licensees. Landlord shall, nevertheless, use reasonable
efforts to minimize any interference with Tenant’s business in the Premises and with the use by
Tenant, its agents, officers, contractors, employees and invitees of the common areas associated
therewith.
(g) As soon as is reasonably practicable after Tenant obtains actual knowledge thereof, Tenant
shall give Landlord prompt notice of any damage to or defective condition in any part or
appurtenance of the Building’s mechanical, electrical, plumbing, HVAC or other systems serving,
located in, or passing through the Premises.
(h) Upon the expiration or earlier termination of this Lease, Tenant shall return the Premises
to Landlord broom clean and in the same condition as on the date hereof, except for all alterations
that have been performed by or on behalf of Tenant (which are governed by Section 12); normal wear
and tear; and condemnation or casualty loss (provided such casualty loss is not caused by the
negligent act or omission of Tenant, its agents, officers, contractors, employees or invitees
(except to the extent covered by insurance to be maintained under this Lease)). Any damage to the
Premises, including any structural damage, resulting from Tenant’s use or from the removal of
Tenant’s fixtures, furnishings and equipment shall be repaired promptly by Tenant at Tenant’s
expense, except to the extent covered by Landlord’s insurance. Landlord shall xxxx Tenant, as
promptly as is practicable, for the costs of any cleanup and/or repairs to the Premises
necessitated by Tenant’s use and occupancy thereof (normal wear and tear and losses caused by
Landlord’s negligence or that of its employees, invitees, agents or contractors excepted) and such
costs shall constitute additional rental due and payable hereunder notwithstanding any expiration
or termination of this Lease.
7. Compliance With Laws.
Tenant covenants and agrees that it will, at its own expense, observe and comply with all laws,
orders, rules, requirements and regulations of any and all governmental departments, bodies,
bureaus, agencies and officers, and all rules, directions and requirements of the local board of
fire underwriters and the fire insurance rating organizations having jurisdiction over the area in
which the Premises are situated, or other bodies or agencies now or hereafter exercising similar
functions in the area in which the Premises are situated, in any way pertaining to the Premises or
the use and occupancy thereof. Notwithstanding the foregoing, Tenant shall not be required to pay
(and Landlord shall pay) the cost of any building code requirement related to capital repairs
8
or renovations to the Building or Property except if (i) the same relates to the interior of the
Premises, and (ii) any such capital repairs or renovations are required solely as the result of any
alterations made by or on behalf of Tenant to the Premises after the date hereof or as a result of
Tenant’s specific use. In the event Tenant shall fail to comply with any of the aforesaid laws,
orders, rules, or requirements, Landlord or its agents may, following
not less than ten (10) days’
prior written notice (provided that in the event of an emergency, the notice period may be
decreased commensurate with the emergency), enter the Premises and take all such action and do all
such work in or to the Premises as may be necessary in order to cause compliance with such laws,
orders, rules or requirements, and Tenant covenants and agrees to reimburse Landlord promptly upon
demand for the reasonable expenses incurred by Landlord in taking such action and performing such
work.
8. Assignment and Subletting.
(a) Tenant covenants and agrees not to assign this Lease, in whole or in part, nor to sublet
the Premises, or any part thereof, nor grant any license or concession for all or any part
thereof, without the prior written consent of Landlord in each instance first had and obtained,
which Landlord shall not unreasonably withhold, condition or delay.
Notwithstanding the foregoing,
Tenant may assign this Lease, or sublet all or any portion of the Premises to any subsidiary,
affiliate or successor of Tenant, or to any person or entity that acquires substantially all the
assets or capital stock of Tenant (collectively “a Related Party”) without Landlord’s prior
written consent, but Tenant shall nevertheless give Landlord written notice of any such assignment
or sublease within five (5) days after the effective date thereof. If any assignment or subletting
is permitted pursuant to this subsection (whether or not to a Related Party), Tenant shall not be
relieved from any liability whatsoever under this Lease Agreement. In the event that the amount of
the rent or other consideration to be paid to Tenant by any assignee or sublessee (other than a
Related Party) is greater than the rent required to be paid by the Tenant to the Landlord pursuant
to this Lease after reimbursement of any reasonable costs incurred by Tenant (such as tenant’s
improvements, legal fees, brokerage commissions and the like) incurred by Tenant in procuring such
assignment or sublease (the “Profit”), Tenant shall pay Landlord fifty percent (50%) of the Profit
when and as received by Tenant from such assignee or sublessee. Landlord shall not be entitled to
any portion of the Profit in the event the assignee or sublessee is a Related Party. Any consent
by Landlord to an assignment or subletting shall not constitute a waiver of the necessity of such
consent as to any subsequent assignment or subletting. An assignment for the benefit of Tenant’s
creditors shall not be effective to transfer or assign Tenant’s interest under this Lease unless
Landlord shall have first consented thereto in writing. In the event Tenant desires to assign this
Lease or to sublease more than fifty percent (50%) in the aggregate of the Premises then leased by
it to a party other than a Related Party, and for fifty percent (50%) or greater of the remaining
term under this Lease, then Landlord shall have the right and option to terminate this Lease,
which right and option shall be exercisable by written notice from Landlord to Tenant within ten
(10) business days from the date Tenant gives Landlord written notice (“Sublet Notice”) of its
desire to assign this Lease or sublet more than 50% of the Premises to other than a Related Party.
In such event, the termination of this Lease shall be effective on the date that Tenant would have
delivered the Premises (or a portion thereof) to the assignee or subtenant, as provided in its
Sublet Notice. If Landlord fails to give
9
timely notice of such termination election, then Landlord shall be deemed to have approved such
requested sublease or assignment as requested by Tenant.
(b) It is agreed that it shall not be a reasonable basis for Landlord to withhold permission
for subletting or assignments by Tenant if Landlord (i) is negotiating with the proposed
subtenant(s) of Tenant for other office space owned or controlled by Landlord, or (ii) has other
office space available for rent in other buildings owned or controlled by Landlord.
(c) Landlord agrees that it will respond to any request by Tenant for an approval of a
prospective sublease or assignment within ten (10) business days of Tenant’s written request to be
accompanied by (i) the name of the proposed entity to include a description of the core business
and the intended use of the Premises to be assigned or subleased, (ii) reasonable and customary
financial information to the extent available, (iii) a floor plan showing the intended area to be
subleased or assigned, and (iv) an executed term sheet setting forth the basic terms of the
prospective transaction which shall not be deemed to mean a negotiated or executed assignment or
sublease agreement. If Landlord fails to give timely notice of its approval or disapproval, or
termination election (if applicable), then Landlord shall be deemed to have approved such
requested sublease or assignment as requested by Tenant.
9. Increase in Landlord’s Insurance Rates.
Tenant will not do, or suffer to be done, anything in or about the Premises, or keep or suffer to
be kept, anything in or about the Premises which will contravene or affect any policy of insurance
against loss by fire or other hazards, including but not limited to public liability, now existing
or which the Landlord may hereafter place thereon, or which will prevent the Landlord from
procuring such policies in companies acceptable to Landlord at standard rates. Tenant will, at
Tenant’s sole expense, take all such actions and make any installations or alterations as may be
necessary to obtain reasonable insurance rates for the Premises (given its character and permitted
uses) and the Building caused by the occupancy of Tenant, the nature
of the business carried on by
Tenant in the Premises, or otherwise resulting from any act of Tenant, its agents, servants,
employees or customers, or anything done or suffered to be done by Tenant, its agents, servants,
employees or customers, outside of what are permitted uses hereunder. However, any installations,
alterations or improvements to the Premises which could result in a reduction in insurance rates
shall only be undertaken at the sole cost of Landlord, unless the same are required as the result
of any installations, alterations or improvements made by Tenant to the Premises other than those
for Tenant’s intended use of the Premises.
10. Insurance — Indemnity.
(a) Tenant covenants and agrees that from and after the Lease Commencement Date, Tenant will
carry and maintain, at its sole cost and expense and in the amounts specified and in the form
hereinafter provided, the following types of insurance:
(i) Business Personal Property insurance covering Special Causes of Loss. Such
Business Personal Property insurance shall not be in an amount less than that required to
replace all of the Tenant’s trade fixtures, decorations, furnishings, equipment and
personal property and in an amount required to avoid the
10
application of any coinsurance provision. Such Business Personal Property insurance shall
contain a Replacement Cost valuation provision.
(ii) Plate glass insurance covering all plate glass in the Premises (if the Premises
include such glass other than ordinary windows). Tenant shall be and remain liable for the repair
and restoration of all such plate glass.
(iii) Boiler and Machinery insurance (if, at any time during this Lease, Tenant’s operations
include a pressure vessel). Such Boiler and Machinery insurance will be on a Repair and
Replacement basis, will be against Comprehensive perils, shall not be in an amount less than that
required to replace all of the Tenant’s trade fixtures, decorations, furnishings, equipment and
personal property and shall be in an amount required to avoid the application of any coinsurance
provision.
(iv) Business Income insurance covering Special Causes of Loss. Such Business Income insurance
shall be in minimum amounts typically carried by prudent businesses engaged in similar operations,
but in no event shall be in an amount less than the Base Rent then in effect for the Lease Year.
(v) Commercial General Liability insurance (written on an
occurrence basis) including Contractual Liability coverage insuring the obligations assumed by
Tenant under this Lease, Premises and Operations coverage, Personal Injury Liability coverage,
Independent Contractor’s Liability coverage. Such Commercial General Liability insurance shall be
in minimum amounts typically carried by prudent businesses engaged in similar operations, but in
no event shall be in an amount less than Two Million Dollars ($2,000,000) combined single limit
per occurrence with a Three Million Dollar ($3,000,000) annual aggregate. If the nature of
Tenant’s operations are automobile-related, Tenant may satisfy this requirement with Garage
Liability insurance with limits of not less than Two Million Dollars ($2,000,000) per accident for
Auto, Two Million Dollars ($2,000,000) per accident for other-than-Auto and a Three Million
Dollars ($3,000,000) annual aggregate for other-than-Auto. If Tenant conducts operations at
locations and/or projects other than the Premises, such annual aggregate limit will be expressed
on a “per location” and/or “per project” basis, as the case may be. If the nature of Tenant’s
operations are such that Tenant has seniors, children, developmentally-disabled or other
vulnerable people in its care or if such people are in the Tenant’s care incidental to the
Tenant’s operations, Tenant’s Commercial General Liability insurance shall not exclude coverage
for Sexual Abuse and/or Molestation. Such Commercial General Liability insurance shall be primary
to — and non-contributory with — any similar insurance maintained by Landlord.
(vi) Workers’ Compensation insurance including Employer’s Liability insurance. Such Workers’
Compensation insurance shall be for the statutory benefits which may, from time to time throughout
the term of this Lease, become payable in the jurisdiction in which the Premises are located. Such
Employer’s Liability insurance shall be in amounts not less than One Hundred Thousand Dollars
($100,000) for each accident, Five Hundred Thousand Dollars ($500,000) as a policy limit for
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disease and One Hundred Thousand Dollars ($100,000) per employee for disease. Such Workers’
Compensation insurance will include a Waiver of Subrogation in favor of Landlord.
(b) All such insurance shall: (1) be issued by a company that is “Admitted” to do business in
the jurisdiction in which the Premises are located, that has been approved in advance by Landlord
and that has a rating equal to or exceeding A: IX from A.M. Best
Company; (2) (except for Workers’
Compensation and Employer’s Liability) name Landlord, the managing agent of the Building (if any)
and the holder of any Mortgage as Additional Insureds/Loss Payees, as applicable; (3) contain an
endorsement prohibiting cancellation or failure to renew without the insurer first giving Landlord
thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested)
of such proposed action (no less than ten [10] days’ notice of cancellation or failure to renew
for non-payment of premium).
(c) No
such Commercial General Liability, Automobile Liability, Workers’ Compensation or
Employer’s Liability insurance shall contain a self-insured retention provision except as otherwise
approved in writing by Landlord, which approval shall not be unreasonably withheld. Landlord
reserves the right from time to time to require Tenant to obtain higher minimum amounts or
different types of insurance if it becomes customary for other landlords of similar buildings as
that which contains the Premises to require similar-sized tenants in similar industries to carry
insurance of such higher minimum amounts or of different types. At the commencement of this Lease,
Tenant shall deliver a certificate of all required insurance and will continue throughout the term
of this Lease to do so not less than ten (10) days prior to the expiration of any required policy
of insurance. Neither the issuance of any insurance policy required under this Lease nor the
minimum limits specified herein shall be deemed to limit or restrict in any way Tenant’s liability
arising under or out of this Lease.
(d) All insurance shall provide that the insurer thereunder waives all right of recovery by
way of subrogation against Landlord, its partners, employees, agents, representatives and any other
party required to be the recipient of such a waiver under the terms of any written contract or
agreement with Landlord pertaining to this Lease and/or to the Premises, in connection with any
loss or damage covered by such policy. Tenant shall, and does hereby, indemnify and hold harmless
Landlord from and against any and all liabilities, fines, claims, damages and actions, costs and
expenses of any kind or nature (including reasonable attorneys’ fees) (i) relating to or arising
from the use and occupancy of the Premises; (ii) due to or arising out of any mechanic’s lien filed
against the Building, or any part thereof, for labor performed or for materials furnished or
claimed to be furnished to Tenant, or (iii) due to or arising out of any breach, violation or
nonperformance of any covenant, condition or agreement in this Lease set forth and contained on the
part of Tenant to be fulfilled, kept, observed or performed, unless such damage or injury shall be
occasioned by the negligence or willful act or omission of the Landlord or Landlord’s agents,
employees, contractors, invitees or licensees, in which event, Landlord shall indemnify and hold
harmless Tenant to the extent of such negligence or willful act or omission. Notwithstanding the
foregoing, Tenant shall at all times remain liable for, and indemnify and hold harmless Landlord as
aforesaid, against any damage or injury arising from perils against
12
which Tenant is required by this Lease to insure, regardless of the negligence, act or omission of
others.
(e) Landlord covenants and agrees that from and after the Lease Commencement Date of this Lease. Landlord will carry and maintain (subject to reimbursement as an
Operating Expense) and in the amounts specified and in the form hereinafter provided, the following
types of insurance:
(i) Fire and Extended Coverage. Fire and extended coverage insurance covering
the Building and the Property and any alterations, improvements, additions or changes made
by Landlord thereto in an amount not less than one hundred percent (100%) of their full
replacement cost from time to time during the Lease term, providing protection against
special causes of loss as defined within the property insurance form promulgated by the
Insurance Services Office, Inc. Such insurance shall be on an agreed value (no coinsurance)
basis and shall have a deductible of not more than Twenty-Five Thousand Dollars
($25,000.00).
(ii) Commercial General Liability. Commercial general liability insurance
covering the Building and the Property and Landlord’s use thereof against claims for bodily
injury or death and property damage occurring upon, in or about the Property, such insurance
to afford protection to the limit of not less than Two Million Dollars ($2,000,000.00)
arising out of anyone occurrence. The insurance coverage required under this Section
10(e)(ii) shall, in addition, extend to any liability of Landlord’s arising out of
Landlord’s indemnities hereinafter provided, as well as independent contractors’ liability,
products/completed operations liability, personal injury liability and contractual
liability. If such insurance contains an annual aggregate limit, the annual aggregate limit
may not be diminished by claims occurring at locations other than the Property.
(iii) Boilers. If the Building shall contain a boiler or other pressure vessel,
Landlord shall carry boiler and machinery insurance with a direct damage limit of not less
than the full value of the Building. Such insurance shall be written on a “repair and
replacement” (replacement cost) basis.
(iv) Worker’s Compensation. Worker’s compensation insurance covering Landlord’s
employees for statutory benefits payable in the Commonwealth of Virginia and including
employer’s liability insurance with limits of not less than One Hundred Thousand Dollars
($100,000.00) per accident, Five Hundred Thousand Dollars ($500,000.00) per employee for
disease and One Hundred Thousand Dollars ($100,000.00) as a policy limit for disease.
(f) All policies of insurance to be provided by Landlord shall be issued in a form reasonably
acceptable to Tenant by insurance companies with general policyholder’s rating of not less than A-
:XI as rated in the most current available “Best’s Insurance Reports,” and qualified to do business
in the Commonwealth of Virginia. A certificate of each such policy of
13
insurance shall be delivered to Tenant within ten (10) days after the commencement of this Lease
and thereafter at least fifteen (15) days prior to the expiration of each such policy. As often as
any such policy shall expire or terminate, renewal or additional
policies shall be procured and
maintained by Landlord in like manner and to like extent. All such certificates of insurance shall
contain a provision that the company writing said policy or its agent will give to Tenant at least
thirty (30) days notice in writing, in advance, of any cancellation, or lapse, or the effective
date of any reduction in the amounts of insurance. All such public liability, property damage and
other casualty policies shall be written as primary policies which do not contribute to and are
not in excess of coverage which Landlord may carry. All such public liability and property damage
policies shall contain a provision that Tenant shall nevertheless be entitled to recover under
said policies for all loss occasioned to it, its servants, agents and employees by reason of the
negligence of Landlord or any other named insured. Any insurance provided for may be effected by a
policy or policies of blanket insurance, covering additional items or locations; provided,
however, that (i) Tenant shall be named as an additional insured thereunder as its interest may
appear; (ii) the coverage afforded Landlord will not be reduced or diminished by reason of the use
of such blanket policy of insurance; and (iii) the requirements
set forth herein are otherwise
satisfied. Any insurance policies herein required to be procured by Landlord shall contain an
express waiver of any right of subrogation by the insurance company against the Tenant.
(g) Landlord shall, and does hereby, indemnify and hold harmless Tenant, from and against any
and all liabilities, fines, claims, damages and actions, costs and expenses of any kind or nature
(including reasonable attorneys’ fees) (i) relating to or arising from the management, operation
and maintenance of the Property and the Park by Landlord, its agents, contractors and employees;
(ii) due to or arising out of any breach, violation or nonperformance of any covenant, condition or
agreement in this Lease set forth and contained on the part of Landlord to be fulfilled, kept,
observed or performed, unless such damage or injury shall be occasioned by the negligence or
willful act or omission of the Tenant or Tenant’s agents, employees, contractors, invitees or
licensees, in which event, Tenant shall indemnify and hold harmless Landlord to the extent of such
negligence or willful act or omission. Notwithstanding the foregoing, Landlord shall at all times
remain liable for, and indemnify and hold harmless Tenant as aforesaid against, any damage or
injury arising from perils against which Landlord is required by this Lease to insure, regardless
of the negligence act or omission of others.
11. Alterations.
Tenant shall not make any alterations to the Premises, or any part thereof, without prior written
consent of Landlord in each instance first had and obtained, which consent shall not be
unreasonably withheld, conditioned or delayed. If Tenant shall desire to make such alterations
(other than as may be necessary for the installation of Tenant’s equipment and cabling) which
involve the modification to any component or mechanical system of the Building, or which cost in
the aggregate more than Five Thousand Dollars ($5,000.00), plans for the same shall first be
submitted to and approved by Landlord (which approval shall not be unreasonably withheld,
conditioned or delayed except with regard to Building structural modifications, as to which
approval may be withheld in Landlord’s sole discretion), and all work and installations shall be
performed by Tenant at its own expense in accordance with reasonably approved plans. Tenant agrees
that all such work shall be done in a good and workmanlike manner, that the structural
14
integrity of the Building shall not be impaired, and that no liens shall attach to the Premises by
reason thereof. Tenant agrees to obtain, at Tenant’s expense, all permits required for such
alterations.
12. Ownership of Alterations.
Tenant shall have the right, at any time and from time to time during the Lease term, to remove any
and all alterations made by Tenant to the Premises, provided Tenant repairs any damage done to the
Premises caused by such removal. Upon the expiration or termination
of this Lease, Tenant shall
restore the Premises to their condition existing on the Lease Commencement Date at Tenant’s sole
expense, ordinary wear and tear and damage by casualty excepted. Tenant shall promptly pay any
franchise, minor privilege or other tax or assessment resulting directly or indirectly from any
alterations or improvements made by Tenant to the Premises. Tenant shall repair promptly, at its
own expense, any damage to the Premises or Building caused by bringing into the Premises any
property for Tenant’s use, or by the installation or removal of such property, regardless of fault
or by whom such damage shall be caused. Notwithstanding any of the foregoing provisions, at the
expiration or earlier termination of the term of this Lease, Tenant shall remove all of the
alterations made by Tenant to the Premises subsequent to the Lease Commencement Date, unless
Landlord agrees in writing that the alterations (or identified portions thereof) may remain in the
Premises. Tenant shall have the right to request that Landlord make
such determination at the time
Tenant originally requests Landlord’s consent to the construction of the applicable alterations, in
which case Landlord shall respond promptly.
13. Default.
(a) Any of the following events shall constitute an Event of Default by
Tenant:
(i) If the rent (basic or additional) shall be in arrears, in whole or in
part, for a period of five (5) working days after written notice of such
delinquency; or
(ii) If Tenant shall have failed to perform or comply with any other term,
condition, or covenant of this Lease on its part to be performed or complied with,
for a period of thirty (30) days after notice of such failure from Landlord;
provided that if such failure is due to a condition or action which cannot
reasonably be cured within thirty (30) days, Tenant shall not be in default so long
as Tenant commences to cure such failure within such thirty-day period and
thereafter diligently pursues the cure until completed; or
(iii) If there shall occur an Act of Bankruptcy, as defined in Section 39
hereof; or
(v) If Tenant’s leasehold interest under this Lease is sold under execution,
attachment or decree of court to satisfy any debt of Tenant, or if any lien
(including a mechanic’s lien) is filed against Tenant’s leasehold interest and is
not discharged within ten (10) days thereafter.
15
(b) Upon
the happening of an Event of Default as defined in subsection
(a) hereof, Landlord,
in addition to any and all legal and equitable remedies it may have, shall have the following
remedies:
(i) To distrain for any Base Rent or additional rent in default; provided, however, that
Landlord agrees to subordinate its right of distraint hereunder to the rights of any lender
providing financing to Tenant, and Landlord agrees to promptly
execute and deliver to Tenant such
lender’s standard form of subordination agreement as may be reasonably requested by Tenant from
time to time;
(ii) At any time after an Event of Default, without further notice except as provided in
Section 13(a) hereof, to declare this Lease terminated and enter the Premises with or without
legal process; and in such event Landlord shall have the benefit of all provisions of law now or
hereafter in force respecting the speedy recovery of possession from Tenant’s holding over or
proceedings in forcible entry and detainer, and Tenant waives any and all provisions for notice
under such laws; and
(iii) At any time after an Event of Default, without further notice, except as provided in
Section 13(a) hereof, to re-enter the Premises without terminating the Lease, with the benefit of
all laws referred to in clause (ii) above.
Notwithstanding such reentry and/or termination, Tenant shall immediately be liable to
Landlord for the sum of the following: (a) all rent and additional rent then in arrears, without
apportionment to the termination date; (b) all other liabilities of Tenant and damages sustained by
Landlord as a result of Tenant’s default, including, but not limited to, the reasonable costs of
reletting the Premises and any broker’s commissions payable as a result thereof; (c) all of
Landlord’s costs and expenses (including reasonable counsel fees) in connection with such default
and recovery of possession; (d) the present value (computed at a discount rate of 10% per annum) of
the difference between the rent reserved under this Lease for the balance of the term and the fair
rental value of the Premises for the balance of the term to be determined as of the date of
reentry; or at Landlord’s option in lieu thereof, Tenant shall pay the amount of the rent and
additional rent reserved under this Lease at the times herein stipulated for payment of rent and
additional rent for the balance of the term, less any amount received by Landlord during such
period from others to whom the Premises may be rented on such terms and conditions and at such
rentals as Landlord, in its sole discretion, shall deem proper; and (e) any other damages
recoverable by law. In the event any action is brought to enforce or interpret the provisions of
this Lease, the court shall award the prevailing party in such action reasonable attorneys’ fees
and costs sufficient to reimburse the prevailing party for all costs incurred in connection with
such action and the preparation for such action.
(c) Tenant hereby waives any right to recover possession of the Premises or to redeem or
reinstate this Lease, which the Tenant would otherwise have after Landlord recover possession of
the Premises in accordance with this Section 13.
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(d) In
the event Tenant fails to pay Landlord any rental payment or other
charge due hereunder
on the date due. Tenant shall pay a late charge equal to ten percent (10%) of the rental payment or
other such charge, which late charge shall be collectible as additional rent and shall be payable
by Tenant within five (5) days after written notice from Landlord to Tenant assessing the same.
In addition, any such rental payment or other charge which is delinquent for five (5) days or more,
shall bear interest from the date on which same was due at a rate equal to four (4) percentage
points above the prime rate of interest published by the Wall Street Journal on the date
closest to the date on which any such payment was due.
(e) If Landlord shall have failed to perform or comply with any term, condition, or
covenant of this Lease on its part to be performed or complied with, for a period of thirty (30)
days after written notice of such failure from Tenant (provided that if such failure cannot
reasonably be cured within thirty (30) days, Landlord shall not be in default so long as Landlord
commences to cure such failure within such thirty (30) day period and thereafter diligently pursues
the cure until completed), Tenant may take such action as may be necessary to cure the default upon
giving Landlord notice that it intends to do so, in which event Landlord shall reimburse Tenant for
all reasonable costs incurred by Tenant in curing such default, within thirty (30) days following
receipt by Landlord of an itemized statement from Tenant setting forth all such costs, together
with backup paid receipts or vouchers.
14. Damage or Destruction.
(a) If, during the Lease term, the Premises are damaged by fire or other casualty, but not to
the extent that Tenant is prevented from carrying on business in the Premises, Landlord shall
promptly cause such damage to be repaired; if such damage renders a substantial portion of the
Premises untenantable, the rent reserved hereunder shall be reduced during the period of its
untenantability proportionately to the amount by which the area so rendered untenantable bears to
the entire gross rentable area of the Premises, and such reduction shall be apportioned from the
date of the casualty to the date when the Premises are rendered fully tenantable. Notwithstanding
the foregoing, in the event such fire or other casualty damages or destroys any of Tenant’s
leasehold improvements, alterations, betterments, fixtures or
equipment, Tenant shall cause the
same to be repaired or restored at Tenant’s sole cost and expense and Landlord shall have no
liability for the restoration or repair thereof.
(b) If, during the Lease term, the Premises or a substantial portion of the Building are
rendered wholly untenantable as the result of fire, the elements, unavoidable accident or other
casualty, Landlord shall have the option either to restore the Premises to their condition
immediately prior to the casualty or to terminate this Lease, such option shall be exercised by
Landlord by written notice to Tenant within thirty (30) days after the fire, accident or casualty.
If Landlord elects to restore the Premises, such restoration shall be completed as promptly as
reasonably possible and the rent reserved hereunder shall xxxxx until the Premises are again
rendered tenantable.
(c) In the event Landlord elects to restore or repair the Building and Premises in accordance
with subsection (b) above, and in the further event that Landlord does not substantially complete
such restoration or repair within two hundred seventy (270) days from the
17
date of the fire or other casualty. Tenant shall have the right and option to terminate this Lease
by written notice thereof to Landlord given after the expiration of such two hundred seventy (270)
day period, provided such notice is given before substantial completion of such repair or
restoration.
15. Possession.
Intentionally Deleted.
16. Exterior of Premises — Signs.
(a) Tenant covenants and agrees that it will not place or permit any window display, sign,
billboard, marquee, lights, awning, poles, placard, advertising matter, or other thing of any kind,
in or about the exterior of the Premises or the Building (including without limitation any displays
on or in any motor vehicles used by Tenant, its employees, agents and servants), nor paint or make
any change in, to or on the exterior of said Premises to change the uniform architecture, paint or
appearance of the Building, without in each such instance obtaining the prior written consent of
Landlord and, if applicable, of any owners’ association or similar entity which may govern the use
of Loudoun Tech Center. Landlord approves the existing “Neustar” sign on the building. Landlord
agrees not to unreasonably withhold, condition or delay the granting of its consent hereunder. In
the event such consent is given, Tenant agrees to pay any minor privilege or other tax arising as a
result of any such installation immediately when due. Tenant shall obtain, at Tenant’s expense, all
permits required for such installation. Tenant further agrees to maintain any sign, billboard,
marquee, awning, decoration, placard, or advertising matter or other thing of any kind as may be
approved by Landlord in good condition and repair at all times. As long as Tenant leases at least
seventy-five percent (75%) of the rentable square footage of the Building and there are no defaults
existing hereunder beyond any applicable grace or cure period, Landlord agrees that Tenant’s sign
shall be the exclusive sign on the exterior of the Building.
(b) Tenant further covenants and agrees not to pile or place anything on the sidewalk, parking
lot or other exterior portion of the Premises or Building in the front, rear or sides of the
Building, not block any sidewalk, parking lot or other exterior portion of the Premises or
Building, not do anything that directly or indirectly will interfere with any of the rights of
ingress or egress or of light from any other tenant, not do anything which will, in any way, change
the uniform and general design of the Building or the Property.
(c) Notwithstanding any of the foregoing provisions, Tenant shall have the right to erect and
maintain an exterior sign (with Tenant’s name or trade name) on the Building subject to Landlord’s
prior written consent to Tenant’s sign plan showing the location, color, logo, size and other
details of such sign. Such sign shall comply with all legal requirements, as well as any applicable
requirements of the Loudoun Tech Center Association or its Architectural Review Committee. Tenant
shall procure all permits necessary to erect and maintain such sign, at Tenant’s cost, and Tenant
shall keep and maintain the sign in reasonable repair. Tenant shall likewise repair any damage to
the Building caused by the installation, maintenance or removal of the sign.
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17. Parking.
Subject to condemnation, casualty and other causes beyond Landlord’s control (despite its diligent
efforts), the parking area adjacent to the Building as shown on Exhibit A shall contain not less
than four (4) parking spaces for each one thousand (1,000) square feet of rentable area within the
Building. Tenant, its agents, employees, officers and invitees, shall have the right to the use of
such parking area in common with all other tenants of the Park and their respective agents,
employees, officers and invitees, and Tenant shall have not less than twenty (20) spaces
immediately adjacent to the Building which will contain signage designating such spaces as
exclusively for the use of Tenant’s visitors. Landlord shall have no liability if any of such
reserved spaces are used by unauthorized vehicles.
18. For Rent/Sale Signs.
Landlord shall have the right to place a “For Rent” sign on any portion of said Premises for three
(3) months prior to termination of this Lease. During such three-month period, Landlord may show
the Premises and all parts thereof to prospective tenants between the hours of 9:00 a.m. and 5:00
p.m. on any day except Sunday or any legal holiday on which Tenant shall not be open for business,
upon reasonable prior notice to Tenant and provided that Tenant is afforded a reasonable
opportunity to provide an escort should the nature of Tenant’s business so require.
19. Water and Other Damage.
Landlord shall not be liable for, and Landlord is hereby released and relieved from all claims and
demands of any kind by reason of or resulting from damage or injury to person or property of Tenant
or any other party, directly or indirectly, caused by (a) dampness, water, rain or snow, in any
part of the Premises or in any part of any other property of Landlord or of others, and/or (b)
falling plaster, steam, gas, electricity, or any leak or break in any part of the Premises or from
any pipes, appliances or plumbing or from sewers or the street or subsurface or from any other
place or any part of any other property of Landlord or of others or in the pipes of the plumbing or
heating facilities thereof, except to the extent caused by the negligent or willful action or
omission of Landlord or Landlord’s employees, agents, contractors, invitees or licensees and not
otherwise covered by insurance.
20. Right of Entry.
Landlord and its agents, servants, employees, including any builder or contractor employed by
Landlord, shall have the absolute and unconditional right, license and permission, at any and all
reasonable times, to enter and inspect the Premise or any part thereof, and at the option of
Landlord, to make such reasonable repairs and/or changes in the Premises as Landlord may deem
necessary or proper and/or to enforce and carry out any provision of this Lease, between the hours
of 9:00 A.M. and 5:00 P.M. on any day except Sunday or any legal holiday on which Tenant shall not
be open for business, upon reasonable prior notice to Tenant and provided that Tenant is afforded
a reasonable opportunity to provide an escort should the nature of Tenant’s business so require.
Notwithstanding the foregoing, if Landlord’s entry is required because of a dangerous or emergency
condition requiring immediate attention, the provisions of the foregoing sentence shall not
prohibit Landlord’s immediate entry into the Premises, so long as Landlord gives Tenant such
notice as may be reasonable under the circumstances.
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21. Termination of Term.
(a) It is agreed that the term of this Lease shall expire and terminate at the end
of the original term hereof (or at the expiration of the last renewal term, if this Lease
contains a
renewal option and the same is properly exercised), without the necessity of any notice by or
to any
of the parties hereto, unless otherwise provided herein. If Tenant shall occupy the Premises
after
such expiration or termination, it is understood that Tenant shall hold the Premises as a
tenant from
month-to-month, subject to all the other terms and conditions of this Lease, at an amount
equal to
one hundred fifty percent (150%) of the highest monthly rental installment reserved in this
Lease,
plus all additional rent required under this Lease. Landlord shall, upon such expiration or
termination of this Lease, be entitled to the benefit of all public general or local laws
relating to the
speedy recovery of possession of lands and tenements held over by
tenants that may be now in
force or may hereafter be enacted.
(b) At the time Tenant surrenders the Premises to Landlord, the Premises shall
be in compliance, to the best of Tenant’s actual knowledge, with all applicable building code
requirements insofar as such requirements relate to Tenant’s use and occupancy of the Premises
or to any installations, alterations or improvements made by Tenant thereto.
22. Condemnation.
(a) If, during the term of this Lease, all or a substantial part of the Premises shall
be taken by police power or under power of eminent domain, this Lease shall terminate as of,
and the rent (basic and additional) shall be apportioned to and xxxxx from and after, the date of
taking.
Except as provided in Section 22(d) below, Tenant shall have no right to participate in any
award or
damages for such taking and hereby assigns all of its right, title and interest therein to
Landlord.
For the purposes of this subsection, “a substantial part of the Premises” shall mean such part
that
the remainder thereof is rendered inadequate for Tenant’s business and that such remainder
cannot
practicably be repaired and improved so as to be rendered adequate to
permit Tenant to carry on
its business with substantially the same efficiency as before the taking.
(b) If, during the Lease term, less than a substantial part of the Premises (as
hereinabove defined) is taken by police power or under power of eminent domain, this Lease
shall remain in full force and effect according to its terms; and except as provided in Section
22(d) below, Tenant shall have no right to participate in any award or damages for such taking and
tenant hereby assigns all of its right, title and interest in and to the award to Landlord. In such
event Landlord shall, at its expense, promptly make such repairs and improvements as shall be
necessary to make the remainder of the Premises adequate to permit Tenant to carry on its business to
substantially the same extent and with substantially the same efficiency as before the taking;
provided that in no event shall Landlord be required to expend an amount in excess of the
award received by Landlord for such taking. If Landlord does not substantially complete the making
of such repairs or improvements within one hundred twenty (120) days from the date of the taking,
Tenant shall have the right to terminate this Lease provided Tenant gives Landlord written
termination notice after the expiration of such one hundred twenty (120) day period, so long
as such notice is given prior to Landlord’s substantial restoration of the Premises as aforesaid. If,
as a result of such taking, any part of the Premises is rendered permanently unusable, the basic annual
rent reserved hereunder shall be reduced in such amount as may be fair and reasonable, which amount
20
shall not exceed the proportion which the area so taken or made unusable bears to the total area
which was usable by Tenant prior to the taking. If the taking does not render any part of the
Premises unusable, there shall be no abatement of rent.
(c) For purposes of this section, “taking” shall include a negotiated sale or lease
and transfer of possession to a condemning authority under bona fide threat of condemnation
for public use, and Landlord alone shall have the right to negotiate with the condemning authority
and conduct and settle all litigation connected with the condemnation. As hereinabove used, the
words “award or damages” shall, in the event of such sale or settlement, include the purchase or
settlement price.
(d) Nothing herein shall be deemed to prevent Tenant from claiming and
receiving from the condemning authority, if legally payable, compensation for the taking of
Tenant’s own tangible property and such amount as may be payable by statute or ordinance
toward Tenant’s damages for Tenant’s loss of business, removal and relocation expenses, as well as
any other damages for loss of its Lease (including compensation for any increased rent that Tenant
shall incur as a result of relocation) so long as such other amounts do not reduce or in any manner
adversely affect Landlord’s entitlement or ability to obtain the amounts to which Landlord
would otherwise be entitled as compensation under applicable law.
23. Subordination; Non-Disturbance.
This Lease shall be subject to and subordinate at all times to the lien of any mortgages and/or
deeds of trust upon the Building and Property now or hereafter to be made, unless the mortgagee or
holder of the deed of trust elects to have Tenant’s interest hereunder superior to the interest of
the mortgagee or holder of such deed of trust, so long as the mortgagee or holder of such deed of
trust agrees to a subordination, non-disturbance and attornment agreement in form and substance
reasonably satisfactory to Tenant, which includes provisions which permit Tenant to remain in
possession following any foreclosure or other action by such lender, with all of Tenant’s rights
hereunder remaining in full force and effect so long as no Event of Default has occurred under the
provisions of this Lease. The Tenant agrees to execute any documents necessary, subsequent to the
execution of this Lease, which are required to effect such subordination.
24. Attornment.
(a) If Landlord assigns this Lease or the rents hereunder to a creditor as security
for a debt, Tenant shall, after notice of such assignment and upon demand by Landlord or the
assignee, pay all sums thereafter becoming due to Landlord hereunder either to Landlord or to
such assignee, as required by such notice. Tenant shall also, upon receipt of such notice, have all
policies of insurance required hereunder endorsed so as to protect the assignee’s interest as
it may appear and shall deliver such policies, or certificates thereof, to the assignee.
(b) In the event the Premises are sold at any foreclosure sale or sales, by virtue
of any judicial proceedings or otherwise, this Lease shall continue in full force and effect
and Tenant agrees, upon request, but subject to the provisions of Section 23, to attorn to and
acknowledge the foreclosure purchase or purchasers at such sale as the landlord hereunder.
21
25. Notices to Mortgagee.
Tenant
agrees that a copy of any notice of default from Tenant to Landlord shall also be sent to
the holder of any mortgage or deed of trust on the Premises, provided Tenant has been given
written notice of the fact that such mortgage or deed of trust has been made; and Tenant shall
allow said mortgagee or holder of the deed of trust a reasonable time, not to exceed ninety (90)
days from the receipt of said notice, to cure, or cause to be cured, any such default. If such
default cannot reasonably be cured within the time specified herein, then such additional time as
may be necessary shall be allowed, provided the curing of such default is commenced and diligently
pursued (including, but not limited to, commencement of foreclosure proceedings if necessary to
effect such cure) in which event this Lease shall not be terminated while such remedies are being
thus diligently pursued.
26. Estoppel Certificate.
Tenant shall, at any time and from time to time during the term of this Lease or any renewal
thereof, upon request of Landlord, execute, acknowledge, and deliver to Landlord (or its designee)
a statement in writing, certifying that this Lease is unmodified and in full force and effect if
such is the fact (or if there have been any modifications thereof, that the same is in full force
as modified and stating the modifications) and the dates to which the rents and other charges have
been paid in advance, if any. Any such statement delivered pursuant to this section may be relied
upon by any prospective purchaser of the estate of Landlord or by the mortgagee or any assignee of
any mortgagee or the trustee or beneficiary of any deed of trust
constituting a lien on the Premises
or the Building.
27. Landlord’s Right to Perform Tenant’s Covenants.
(a) If Tenant shall fail to perform any covenant or duty required of it by this
Lease or by law, Landlord shall have the right (but not the obligation) to perform the same if
Tenant
has not done so, subject to the same notice requirements and other terms and conditions set
forth in
Section 13(a)(ii) of this Lease, and if necessary to enter the Premises for such purposes
without
notice. The reasonable cost thereof to Landlord shall be deemed to be additional rent
hereunder
payable by Tenant, shall be due and payable by Tenant upon demand, and Landlord shall have the
same rights and remedies with respect to such additional rent as Landlord has with respect to
the rental reserved hereunder.
(b) If Landlord shall fail to perform any covenant or duty required of it by this
Lease or by law, Tenant shall have the right (but not the obligation) to perform the same if
Landlord
has not done so, subject to the same notice requirements and other terms and conditions set
forth in
Section 13(e) of this Lease.
28. Non-Waiver of Future Enforcement.
The receipt of rent by Landlord, with knowledge of any breach of this Lease by Tenant or of any
default on the part of Tenant in the observance of performance of any of the conditions or
covenants of this Lease, shall not be deemed to be a waiver of any provision of this Lease,
including the provision breached. No failure on the part of Landlord or of the Tenant to enforce
any covenant or provision herein contained nor any waiver of any right hereunder by Landlord or
22
Tenant shall discharge or invalidate such covenant or provision or shall affect the right of
Landlord or Tenant to enforce the same in the event of any subsequent default. The receipt by
Landlord of any rent or any sum of money or any other consideration hereunder paid by Tenant after
the termination, in any manner, of the term herein demised, or after the giving by Landlord of any
notice hereunder to effect such termination, shall not reinstate, continue or extend the term
herein demised, or destroy, or in any manner impair the efficacy of any such notice of termination
as may have been given hereunder by Landlord to Tenant prior to the receipt of any such sum of
money or other consideration, unless so agreed to in writing and signed by Landlord. Neither
acceptance of the keys nor any other act or thing done by Landlord or any agent or employee during
the term herein demised shall be deemed to be an acceptance of a surrender of the Premises,
excepting only an agreement in writing signed by Landlord accepting or agreeing to accept such
surrender.
29. Personal Property Taxes.
Tenant shall be responsible for and shall pay any taxes or assessments levied or assessed during
the term of this Lease against any leasehold interest of Tenant or personal property or trade
fixtures of Tenant of any kind, owned by Tenant or placed in, upon or about the Premises by
Tenant.
30. Recordation of Lease.
Tenant or Landlord may request that the parties execute a memorandum of this Lease in a form
suitable for recording under applicable Virginia law. The party requesting such recording of such
Memorandum of Lease shall pay all costs of recordation, including any transfer or recordation
taxes thereon.
31. Severability.
(a) It is agreed that, for the purpose of any suit brought or based on this Lease,
this Lease shall be construed to be a divisible contract, to the end that successive actions
may be
maintained thereon as successive periodic sums shall mature or be due hereunder, and it is
further
agreed that failure to include in any suit or action any sum or sums then matured or due shall
not be
a bar to the maintenance of any suit or action for the recovery of said sum or sums so
omitted.
Tenant agrees that it will not, in any suit or suits brought or arising under this Lease for a
matured
sum for which judgment has not previously been obtained or entered, plead, rely on or
interpose the
defenses of res adjudicata, former recovery, extinguishment, merger, election of remedies or
other
similar defense as a default said suit or suits.
(b) If any term, clause or provision of this Lease is declared invalid by a court of
competent jurisdiction, the validity for the remainder of this Lease shall not be affected
thereby but
shall remain in full force and effect.
32. Non-Waiver.
It is understood and agreed that nothing herein shall be construed to be a waiver of any of the
terms, covenants or conditions herein contained, unless the same shall be in writing, signed by
the party to be charged with such waiver, and no waiver of the breach of any covenant herein shall
be construed as a waiver of such covenant or any subsequent breach thereof. No mention in this
Lease of any specific right or remedy shall preclude Landlord from exercising any other right or
from having any
23
other remedy or from maintaining any action to which it may be otherwise entitled either at law or
in equity.
33. Successors and Assigns.
(a) Except as herein provided, this Lease and the covenants and conditions
herein contained shall inure to the benefit of and be binding upon Landlord, its successors
and
assigns; and shall be binding upon Tenant, its successors and assigns, including without
limitation any trustee in bankruptcy or debtor-in-possession and any assignee of the same; and
shall inure to the benefit of Tenant and its Related Parties as set forth in Section 5 hereof,
as well
as any assignees of Tenant to whom an assignment by Tenant has been consented to in writing by
Landlord.
Landlord.
(b) In the event Landlord’s interest under this Lease is transferred or assigned
and written notice thereof is given to Tenant, Landlord (or any subsequent assignee or
transferee of
Landlord’s interest under this Lease who gives such notice to Tenant) shall automatically be
relieved and released from and after the date of such transfer or conveyance from all
liability
hereunder. Further, the liability of Landlord, its successors and assigns, under this Lease
shall at all
times be limited solely to Landlord’s interest in the land and improvements comprising the
Building
(including rents; insurance and condemnation proceeds; and the proceeds of any sale or
financing)
and in the event the owner of Landlord’s interest in this Lease is at any time an individual,
partnership, joint venture or unincorporated association, Tenant agrees that such individual
or the
members or partners of such partnership, joint venture or unincorporated association shall not
be personally or individually liable or responsible for the performance of any of Landlord’s
obligations hereunder.
34. Security Deposit.
(a) The parties hereby acknowledge that Landlord is holding a security deposit
in the amount of Fifty Thousand Dollars ($50,000.00) pursuant to the Original Lease. The
Landlord agrees that it will accept the transfer of the existing $50,000.00 deposit under the
Original Lease as the new deposit required under this Section 34(a), to secure the faithful performance
of Tenant’s obligations under this Lease. Notwithstanding the foregoing, in the event the amount
of the security deposit held by Landlord for the Original Lease is less than $50,000.00 at the
time of the Lease Commencement Date under this Lease, Tenant shall immediately pay such difference to
Landlord so that the full amount of the Security Deposit is being held by Landlord under this
Lease.
(b) The parties hereby agree that if the net worth of the Tenant declines to an
amount equal to Five Hundred Million Dollars ($500,000,000.00) or less at anytime during the
term of this Lease, the Tenant shall immediately deliver to Landlord an additional security deposit
of Fifty Thousand Dollars ($50,000.00), for a total security deposit of One Hundred Thousand
Dollars ($100,000.00). Tenant agrees to deliver to Landlord each year during the term hereof a copy of
Tenant’s annual report or such other documentation that sets forth the net worth of the
Tenant. Tenant agrees that Landlord shall have the right, but not the obligation, in its sole
discretion, after five (5) days’ prior notice to Tenant, to apply said security deposit or any portion thereof
to cure or remedy any Event of Default by Tenant hereunder, including but not limited to default in
payment of rent and additional rent, or to reimburse Landlord for costs incurred by Landlord if Tenant
fails
24
to restore the Premises at the end of the term to its condition existing at the commencement of
this Lease, subject to ordinary wear and tear, casualty and condemnation, to the extent required
under Section 12 above. Said sum, if not sooner applied, shall be returned to Tenant, without
interest, within ten (10) days after vacating of the Premises by Tenant and termination of this
Lease (or upon termination of the last renewal term of this Lease if this Lease contains a renewal
option and Tenant properly exercises said option), provided that Landlord shall nevertheless have
the right to draw upon the security deposit in such amounts as reasonably required for any damages
sustained by Landlord if (i) Tenant is then in default under any of the provisions of this Lease,
or (ii) there is damage to the Premises beyond ordinary wear and tear and the Premises have not
been left in a clean condition and in good order with all debris, rubbish and trash placed in
proper containers.
(c) If Tenant provides a Letter of Credit in lieu of cash hereunder (which
Letter of Credit must be in form and substance reasonably acceptable to Landlord), and
Landlord draws upon the Letter of Credit and uses all, or any portion, of the proceeds thereof to cure
any default by Tenant under this Lease, Tenant agrees to deposit with Landlord, within fifteen
(15) days after Landlord’s written request, a cash sum or letter of credit in sufficient amount,
which when added to any remaining proceeds from the Letter of Credit, will equal the full principal
sum of the security deposit. Tenant shall have the right to provide a Letter of Credit in the face
amount of One Hundred Thousand Dollars ($100,000.00), representing the $50,000.00 security
deposit required above and the $50,000.00 deposit required under the Amended and Restated
Office Lease of even date herewith between Landlord and Tenant for Building VIII. If Tenant
elects to provide a Letter of Credit in the face amount of One Hundred Thousand Dollars,
one-half of such Letter of Credit ($50,000.00) shall be applicable to the security deposit
under this Lease, and one-half of the Letter of Credit ($50,000.00) will be applicable to the
security deposit under the Amended and Restated Office Lease for Building VIII. If the security deposit
is in the form of cash, Landlord shall be entitled to commingle the security deposit with its
own funds, and Landlord shall not be required to pay Tenant any interest thereon. Tenant further
agrees that no mortgagee or holder of a deed of trust on the Premises and no purchaser of said
Premises at any foreclosure sale shall have any liability to Tenant for Tenant’s security
deposit, unless such security deposits are actually delivered to such mortgagee, holder of a deed of
trust or purchaser.
(d) As it relates to the provisions herein, every use of the term “Event of
Default” or “default” shall be limited to that meaning of the terms set forth in Section 13 of
this Lease.
35. Bankruptcy.
(a) An “Act of Bankruptcy” shall mean:
(i) the application by Tenant or any guarantor of Tenant or its or their consent to the
appointment of a receiver, trustee or liquidator of Tenant or any guarantor of Tenant or a
substantial part of its or their assets;
(ii) the filing of voluntary petition in bankruptcy or the admission in writing by Tenant or
any guarantor of Tenant of its inability to pay its debts as they become due;
25
(iii) the making by Tenant or any guarantor of Tenant of an assignment for the benefit of its
creditors;
(iv) the filing of a petition or an answer seeking a reorganization or an arrangement with
its creditors or an attempt to take advantage of any insolvency law;
(v) the
filing of an answer admitting the material allegations of a petition filed against
Tenant or any guarantor of Tenant in any bankruptcy, reorganization or insolvency proceeding;
(vi) the entering of an order, judgment or decree by any court of competent jurisdiction
adjudicating Tenant or any guarantor of Tenant a bankrupt or an insolvent, approving a petition
seeking such a reorganization, or appointing a receiver, trustee or liquidator of Tenant or any
guarantor of Tenant or of all or a substantial part of its or their assets; or
(vii) the commencing of any proceeding under any bankruptcy, reorganization, arrangement,
insolvency, readjustment, receivership or similar law, and the continuation of such order,
judgment, decree or proceeding unstayed for a period of sixty (60) days.
(b) Upon the occurrence of an Act of Bankruptcy, this Lease and all rights of
Tenant hereunder shall automatically terminate with the same force and effect as if the date
of any such event were the date stated herein for the expiration of the term, and Tenant shall vacate
and surrender the Premises, but shall remain liable as herein provided. Landlord reserves any and
all remedies provided herein or at law or in equity.
(c) If this Lease is not terminated in accordance with subsection (b) above
because such termination is not permitted under the Bankruptcy
Code, 11 U.S.C. 101 et
seq. (the “Bankruptcy Code”), then upon the filing of a petition by or against Tenant under the
Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed,
agree:
(i) To perform each and every obligation of Tenant under this Lease until such time as this
Lease is either rejected or assumed by order of the United States Bankruptcy Court;
(ii) To pay monthly in advance on the first day of each month as reasonable compensation for
use and occupancy of the Premises an amount equal to all basic rent and all additional rent
reserved hereunder;
(iii) To
reject or assume this Lease within sixty (60) days of the filing of such petition
under Chapter 7 of the Bankruptcy Code or within thirty
(30) days of the filing of a petition under
any other Chapter;
(iv) To give Landlord at least forty-five (45) days’ prior written notice of any proceeding
relating to any assumption of this Lease;
26
(v) To
give Landlord at least thirty (30) days’ prior written notice of any abandonment to be
deemed conclusively a rejection of this Lease;
(vi) To be deemed conclusively to have rejected this Lease in the event of the failure to
comply with any of the above; and
(vii) To
be deemed to have consented to the entry of an order by an
appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing
of the entry of same.
(d) Not
withstanding anything in this Lease to the contrary, all amounts payable by Tenant to or on behalf of Landlord hereunder, whether or not expressly denominated as rent,
shall constitute “rent” for the purposes of Section 502(b)(7) of the Bankruptcy Code,
including, without limitation, reasonable attorney’s fees incurred by Landlord by reason of Tenant’s
bankruptcy.
(e) In the event that this Lease is assigned to any person or entity pursuant to the
provisions of the Bankruptcy Code, any and all monies or other consideration payable or
otherwise
to be delivered in connection with such assignment shall be paid or delivered to Landlord,
shall be
and remain the exclusive property of Landlord, and shall not constitute property of Tenant or
of the
estate of Tenant within the meaning of the Bankruptcy Code. Any and all monies or other
consideration constituting Landlord’s property under the preceding sentence not directly paid
or delivered to Landlord shall be held in trust for the benefit of Landlord by the recipient
thereof and
be promptly paid to or turned over to Landlord. If Tenant assumes this Lease and proposes to
assign the same pursuant to the provisions of the Bankruptcy Code to any person or entity who
shall
have made a bona fide offer to accept an assignment of this Lease on terms acceptable to
Tenant,
the notice of such proposed assignment setting forth (i) the name and address of such person;
(ii) all
of the terms and conditions of such offer; and (iii) adequate assurance to be provided to
Landlord to
assure such assignee’s future performance under the Lease, including, without limitation, the
assurance referred to in Section 365(b)(3) of the Bankruptcy Code, or any such successor or
substitute legislation or rule thereto, shall be given to Landlord by Tenant, but in any event
no later
than ten (10) days prior to the date that Tenant shall make application to a court of
competent
jurisdiction for authority and approval to enter into such assignment and assumption, and
Landlord
shall thereupon have the prior right and option, to be exercised by notice to Tenant given at
any
time prior to the effective date of such proposed assignment, to accept an assignment of this
Lease
upon the same terms and conditions and for the same consideration, if any, as the bona fide
offer
made by such person, less any brokerage commission which may be payable out of the
consideration to be paid by such person for the assignment of this Lease. Any person or entity
to which this Lease is assigned pursuant to the provisions of the Bankruptcy Code shall be deemed
without further act or deed to have assumed all of the obligations arising under this Lease on
and after the date of such assignment. Any such assignee shall, upon demand, execute and deliver
to Landlord an instrument confirming such assumption.
27
(f) Nothing contained in this Section 35 shall be deemed in any manner to limit Landlord’s
rights and remedies under the Bankruptcy Code, as presently existing
or as may hereafter be
amended.
(g) No default under this Lease by Tenant, either prior to or subsequent to any Act of
Bankruptcy, shall be deemed to have been waived unless expressly done so in writing by Landlord.
(h) Neither Tenant’s interest in this Lease, nor any estate created hereby in Tenant nor any
interest herein or therein, shall pass to any trustee or receiver or assignee for the benefit of
creditors or otherwise by operation of law except as may specifically be provided by the
Bankruptcy Code.
36. Environmental Provisions.
(a) Tenant and its successors and assigns shall use and operate the Premises, the
Building and the Property, respectively, at all times during the term hereof, under and in
compliance with the laws of Loudoun County and the Commonwealth of Virginia, and in
compliance with all applicable Environmental Legal Requirements. “Environmental Legal
Requirements” shall mean any applicable law relating to public health, safety or the
environment,
including, without limitation, relating to releases, discharges or omissions to air, water,
land or
groundwater, to the withdrawal or use of groundwater, to the use and handling of
polychlorinated
biphenyls (“PCB’s”) or asbestos, or asbestos containing products or materials, to the
disposal,
treatment, storage or management of solid or other hazardous or harmful wastes or to exposure
to
toxic, hazardous or other harmful materials (collectively “Hazardous Substances”), to the
handling,
transportation, discharge or release of gaseous or liquid substance and any regulation or
final order
or directive issued pursuant to such statute or ordinance, in each case applicable to the
Premises, the
Building, the Property or their operation, construction or modification, including without
limitation
the following: the Clean Air Act, the Federal Water Pollution Control Act (“FWPCA”), the Safe
Drinking Water Act, the Toxic Substances Control Act, the Comprehensive Environmental
Response Compensation and Liability Act, as amended by the Solid and Hazardous Waste
Amendments of 1984 (“RCRA” ), the Occupational Safety and Health Act, the Emergency
Planning and Community Right-to-Know Act of 1986, the Solid Waste Disposal Act, and any state
or local statutes addressing similar matters, and any state or local statute providing for
financial
responsibility for clean-up or other actions with respect to the release or threatened release
of any of
the above-referenced substances.
(b) Tenant hereby indemnifies, defends and saves Landlord harmless from all
liabilities and claims arising from the use, storage or placement of any Hazardous Substances
upon
the Premises or elsewhere within the Building or Property of Landlord (if brought or placed
thereon
by Tenant, its agents, employees, contractors or invitees); and Tenant shall (i) within thirty
(30)
days after written notice thereof, take or cause to be taken, at its sole expense, such
actions as may
be necessary to comply with all Environmental Legal Requirements, and (ii) within fifteen (15)
days after written demand therefor, reimburse Landlord for any amounts expended by Landlord to
comply with any Environmental Requirements with respect to the Premises or with respect to any
other portions of Landlord’s Building or Property as the result of the placement or storage of
28
Hazardous Substances by Tenant, its agents, employees, contractors or invitees, or in connection
with any judicial or administrative investigation or proceeding relating thereto, including,
without limitation, reasonable attorneys’ fees, fines or other penalty payments.
(c) Tenant covenants and agrees to use commercially reasonable efforts to
prevent any condition in the Premises, such as excessive moisture, which could create an
environment conducive to mold growth and Tenant agrees not to xxxxxx or encourage any
condition to exist in the Premises which would create such mold growth. Tenant covenants and
agrees to regularly inspect the Premises for the presence of mold or for any condition that
may
reasonably be expected to give rise to mold, including but not limited to the observance of
suspected excess dampness or instances of water damage in the Premises. In the event any such
condition develops and it is caused by Tenant, Tenant agrees to remedy such condition promptly
at Tenant’s sole expense. Tenant hereby agrees to indemnify, defend and hold Landlord harmless
from any such costs, expenses, actions or liabilities arising from mold within the Premises
caused
by Tenant, which indemnity shall include reasonable legal fees incurred by Landlord as the
result
thereof. Tenant further agrees promptly to give notice to Landlord in writing of any actual or
potential mold problem, regardless of what may have caused such problem.
potential mold problem, regardless of what may have caused such problem.
(d) Tenant further agrees that, in the event Landlord notifies Tenant of
Landlord’s intention to remediate mold in the Premises or in any adjoining property of
Landlord,
Tenant will provide access to the Premises to permit Landlord to remediate any such problem.
In
the event Landlord determines that Tenant should vacate the Premises during such remediation
which was not caused by any act or omission of Tenant, its agents, employees, contractors or
invitees, Tenant agrees to relocate, at Landlord’s expense, to another Premises owned by
Landlord or an affiliate of Landlord, if necessary, in order for Landlord to complete such
remediation.
37. Rules and Regulations.
Tenant shall faithfully observe and comply with the rules and regulations attached hereto as
Exhibit C, and with any reasonable and non-discriminatory amendments or modifications
thereto that Landlord shall, from time to time, promulgate with respect to the Building and all
other similar buildings in the Park, provided that such amendments or modifications to the rules
and regulations may not apply to commercial tenants or to tenants having particular security or
access requirements, Any such amendments or modifications to the rules and regulations shall be
binding upon Tenant delivery of a copy of them to Tenant. Landlord shall not be responsible to
Tenant for the nonperformance of any of said rules and regulations by any other tenants or
occupants.
38. Captions.
The captions of the various sections of this Lease are for convenience only and are not a part of
this Lease. Such captions shall not be construed to define or limit any of the provisions of this
Lease.
39. Final and Entire Agreement.
This Lease contains the final and entire agreement between the parties hereto, and neither they
nor their agents shall be bound by any terms, conditions or representations not herein written.
Tenant
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acknowledges that neither Landlord nor any broker, agent or employee of Landlord has made any
representations or promises with respect to the Premises, Building or Property, except as
expressly set forth herein. Any representation, inducement, warranty, understanding or agreement
that is not contained in this Lease shall not be of any force or effect.
40. Brokers.
Landlord and Tenant each represents and warrants to the other that neither of them has employed or
dealt with any broker, agent or finder, other than Xxxxx Lang LaSalle
(the “Broker”), in
connection with this Lease, whose commission shall be paid by Landlord pursuant to a separate
agreement. Tenant and Landlord shall each indemnify, defend and hold the other harmless from and
against any claim or claims for brokerage or other commissions asserted by any other broker, agent
or finder employed by the indemnifying party or with whom the indemnifying party has dealt, other
than the Broker.
41. Counterparts.
This Lease may be executed in separate counterparts, each of which shall be deemed an original and
all of which taken together shall constitute one and the same document.
42. Authority.
The person executing and delivering this Lease on behalf of Tenant hereby covenants and warrants
that such person is duly authorized to execute and deliver this Lease on behalf of Tenant.
43. Notices.
Any notice required by this Lease shall be sent by certified mail, postage prepaid, return receipt
requested, by a nationally recognized overnight delivery service, or by hand delivery to Landlord
at: c/o Merritt Properties, LLC, 0000 Xxxx Xxxxxxxxx Xxxxx, Xxxxxxxxx, Xxxxxxxx 00000; and to
Tenant at the Premises and to: Neustar, Inc., 00000 Xxxxxx Xxx Xxxxx, Xxxxxxxx, Xxxxxxxx 00000,
Attn: J. Xxxxx Xxxxxx; with a copy to Xxxxxx Xxxxxxxxxx, Esquire, Xxxxx & Xxxxxxx, LLP, 000
Xxxxxxxxxx Xxxxxx, X.X., Xxxxxxxxxx, X.X. 00000. Either party may, at any time, and from time to
time, designate in writing a substitute address for that set forth above, and thereafter all
notices to such party shall be sent to such substitute address.
44. Tenant Representative.
The name, address and telephone number of Tenant representative to be contacted in event of
emergency are as follows:
Name: J. Xxxxx Xxxxxx
Business Phone: 000-000-0000
Cell Phone: 000-000-0000
Business Phone: 000-000-0000
Cell Phone: 000-000-0000
45. Waiver of Jury Trial.
THE LANDLORD AND THE TENANT WAIVE ALL RIGHTS TO A TRIAL BY JURY IN ANY ACTION, COUNTERCLAIM OR
PROCEEDING BASED UPON, OR RELATED TO, THE SUBJECT MATTER OF THIS LEASE. THIS WAIVER APPLIES TO ALL
CLAIMS
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AGAINST ALL PARTIES TO SUCH ACTIONS AND PROCEEDINGS, INCLUDING PARTIES WHO ARE NOT PARTIES TO THIS
LEASE. THIS WAIVER IS KNOWINGLY, INTENTIONALLY AND VOLUNTARILY MADE BY THE TENANT AND THE TENANT
ACKNOWLEDGES THAT NEITHER THE LANDLORD, NOR ANY PERSON ACTING ON BEHALF OF THE LANDLORD, HAS MADE
ANY REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF TRIAL BY JURY OR IN ANY WAY TO MODIFY OR
NULLIFY ITS EFFECT. THE TENANT FURTHER ACKNOWLEDGES THAT IT HAS BEEN REPRESENTED (OR HAS HAD THE
OPPORTUNITY TO BE REPRESENTED) IN THE SIGNING OF THIS LEASE AND IN THE MAKING OF THIS WAIVER BY
INDEPENDENT LEGAL COUNSEL, SELECTED OF ITS OWN FREE WILL, AND THAT IT HAS HAD THE OPPORTUNITY TO
DISCUSS THIS WAIVER WITH COUNSEL.
46. Submission Not An Offer.
The submission of this document for examination does not constitute an option or offer to lease
the Premises. This document shall have no binding effect on the parties unless executed by both
Landlord and Tenant and a fully executed copy is delivered to each of them.
47. Tenant Installations.
(a) Emergency Generator. Tenant shall have the right to maintain or install an
emergency generator and fuel tank on a pad site adjacent to the Building, mounted to a
concrete slab, all of which shall be properly screened, subject to Landlord’s prior written approval of
the location, equipment and screening. Such installation and the repair and maintenance thereof
shall be performed by Tenant, at Tenant’s sole cost, in
accordance with all applicable codes and regulations.
(b)
Supplemental HVAC. Tenant shall have the right to maintain or install
supplemental HVAC equipment on the roof of the Building in order to providing supplemental
cooling for the LAN rooms in the Premises. Tenant may utilize existing screening located on
the roof, but shall be required to add additional screening if the height of the supplemental
equipment so requires. Such installation shall be performed by Tenant, at Tenant’s sole cost,
in accordance with all applicable codes and regulations. Before commencing any new installation,
Tenant shall submit plans and specifications to Landlord for Landlord’s approval as to the
location of the equipment, the type and extent of screening and other pertinent details for
Landlord’s prior written approval.
(c) Roof Rights. Tenant shall have the non-exclusive right to install
communications, HVAC (as described above), or other equipment benefiting the Premises on the
roof of the Building at no additional charge during the Lease term or any extensions thereof.
Such installations shall be performed by Tenant, at Tenant’s sole cost, in accordance with all
applicable codes and regulations. All of the foregoing installations shall be subject to
Landlord’s prior written approval of the location, method of installation, type and extent of screening
and other reasonably pertinent detail concerning the same.
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48. Tenant Allowance.
The parties acknowledge and agree that the Base Rent incorporates Landlord’s allowance to Tenant in
the amount of Six Hundred One Thousand Seven Hundred Eighty Dollars ($601,780.00) (i.e., $10 per
rentable square foot) (the “Tenant Allowance”). The Tenant Allowance may he used by Tenant for the
hard and soft costs incurred to design, obtain permits for, renovate and/or construct any
improvements within, or to obtain any fixtures and equipment for the Premises following the date of
this Lease (subject to any approval required by the provisions of Section 11 hereof). Landlord
agrees that it shall not charge any review fee or set-off any fees against the Tenant Allowance for
Landlord’s review of any plans or specifications submitted to Landlord by Tenant for proposed
improvements to the Premises. Tenant shall have the right to utilize the Tenant Allowance in whole
or in part up at any time after eighteen (18) months following the Lease Commencement Date, to one
hundred eighty (180) days prior to the tenth
(10th) anniversary of the Lease
Commencement Date. Tenant shall have the right to use the Tenant Allowance in multiple instances,
but in no event more frequently than once per year. Tenant shall submit written requisitions to
Landlord for reimbursements, or payments to third parties, from the Tenant Allowance, accompanied
by such supporting invoices, bills of sale and receipts as may be reasonably required by Landlord.
If the Tenant has not utilized all of the Tenant Allowance by one hundred eighty (180) days prior
to the tenth (10th) anniversary of the Lease Commencement Date, the remaining Tenant
Allowance shall be forfeited. Notwithstanding the foregoing, Tenant shall be permitted to use all
or any portion of the Tenant Allowance for hard and soft costs to design, obtain permits for,
renovate and/or construct improvements within, or to obtain any fixtures and equipment for the
Tenant’s premises in the property known as Building VIII, 45980 Center Oak Plaza, in the Park.
49. Hours of Operation.
Subject to condemnation, casualty and other causes beyond the control of Landlord and further
subject to Landlord’s reasonable security requirements, access to and operation of the Premises,
the roof, and all other parts of the Building shall be permitted on a twenty-four (24) hour per
day, seven (7) day per week basis.
50. Time.
Time is of the essence for all purposes in this Lease.
– Signatures Appear on the Following Page. –
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WITNESS the hands and seals of the parties hereto as of the day and year first above written.
WITNESS: | LANDLORD: | |||||||||
XXXXXXX-LT1, LLC | ||||||||||
By: Xxxxxxx Management Corporation, Agent | ||||||||||
/s/ [ILLEGIBLE]
|
By | /s/ Xxxxx X. Xxxxxx | (SEAL) | |||||||
Title: President | ||||||||||
WITNESS/ATTEST: | TENANT: | |||||||||
NEUSTAR, INC. | ||||||||||
/s/
Xxxxxxxx X. Xxxxxxxxxx
|
By | /s/ Xxxx X. Xxxxxxx | (SEAL) | |||||||
Title: SVP, INTERIM CFO & TREASURER |
33
EXHIBIT A — LEASE PLAN
EXHIBIT B — LANDLORD’S WORK
EXHIBIT C — RULES AND REGULATIONS
EXHIBIT B — LANDLORD’S WORK
EXHIBIT C — RULES AND REGULATIONS
EXHIBIT A
LEASE PLAN
LEASE PLAN
![(BUILDING KEY PLAN)](https://www.sec.gov/Archives/edgar/data/1265888/000095012309010550/w74337w7433702.gif)
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EXHIBIT B
LANDLORD’S WORK
NONE
EXHIBIT C
LOUDOUN TECH CENTER
RULES AND REGULATIONS
1. Tenant and its agent and employees shall not loiter in or upon or in any way obstruct
the grounds, sidewalks, driveways or parking areas, or the common halls, passages, exits,
entrances,
corridors, in or about the Building in which the Demised Premises are located or use such
areas for
any purpose other than for ingress or egress from the Demised Premises. These areas are not
for the
use of the general public, and Landlord reserves the right to control and prevent access to
them by
all persons whose presence in the judgment of the Landlord, will be prejudicial to the safety,
character, reputation and interests of the Buildings and its tenants. However, nothing in
these Rules
and Regulations shall be construed to prevent access by persons with whom Tenant usually deals
in
the ordinary course of its business, unless those persons violated the Rules and Regulations
of the
Building or are engaged in illegal activities.
2. Waterclosets and urinals shall not be used for any purpose other than those for
which they were construed; and no sweepings, rubbish, ashes, newspaper or any other substances
of any kind shall be thrown into them. Waste and excessive or unusual use of electricity or water
is prohibited.
3. The windows, doors, partitions and lights that reflect or admit light into the halls or
other places of the Building shall not be obstructed. NO SIGNS, ADVERTISEMENTS OR
NOTICES SHALL BE INSCRIBED, PAINTED, AFFIXED OR DISPLAYED IN, ON, UPON OR
BEHIND ANY WINDOWS, except as may be required by law or agreed upon by the parties in
writing; and no sign, advertisement or notice shall be inscribed, painted or affixed on any
doors, partitions or other part of the inside of the Building, without the prior written consent of
Landlord. If such consent be given by Landlord, any such advertisement or notice shall be inscribed,
painted or affixed by Landlord, or a company approved by Landlord,
but the cost of the same shall be charged to and be paid by Tenant, and Tenant agrees to pay the same promptly, on demand. All
signs, advertisements or notices permitted herein shall be only of such color, size, style,
place and material as approved by Landlord in writing.
4. No electric wiring of any kind is to be introduced without Landlord’s prior written
consent. If Tenant desires telegraphic, telephone, burglar alarm or signal services and if
Landlord
consents in writing thereto, the wiring must be connected as directed by Landlord, and no
stringing
or cutting of wires will be allowed, except if specifically permitted in the prior written
consent of
Landlord. The electric wiring shall be done only by contractors approved by Landlord in
writing.
No tenant shall lay linoleum or other similar floor coverings so that the same shall be in
direct
contact with the floor of the Premises; and if linoleum or other similar floor coverings are
desired to
be used, an interlining of builder’s deadening felt shall be first affixed to the floor by a
paste or other
material soluble in water, the use of cement or other similar adhesive material being
expressly
prohibited.
5. Landlord will not be responsible for loss of or damage to any equipment or freight
from any cause; but all damage done to the Building by moving or maintaining any such
equipment
or freight shall be repaired at the expense of Tenant. All safes shall stand on a base of such
size as
shall be designated by the Landlord.
6. No machinery of any kind or articles of unusual weight or size will be allowed in the
Building, without the prior written consent of Landlord. Business machines and mechanical
equipment, if consented to by Landlord, shall be placed and maintained by Tenant, at Tenant’s
expense, in setting sufficient to absorb and prevent all vibration, noise and annoyance.
7. No additional lock or locks of similar devices shall be placed by Tenant on any
door, window or transom in the Building, without prior written consent of Landlord. Two keys
will
be furnished Tenant by Landlord. Tenant, its agents and employees, shall not change any locks.
Tenant shall make known to Landlord the explanation of all combination locks or safes,
cabinets
and vaults, and all keys to doors and washrooms shall be returned to Landlord at the
termination of
the tenancy, and, in the event of loss of any keys furnished, Tenant shall pay Landlord the
cost
thereof.
8. No
bicycles, vehicles or animals of any kind shall be brought into or kept in or about the Premises of the Building.
9. The requirements of Tenant will be attended to only upon application at the office of
the Building. Employees of Landlord shall not perform any work for Tenant or do anything
outside
of their regular duties, unless under special written instructions from the office of
Landlord.
10. The
Premises shall not be used for lodging or sleeping purposes, and cooking
therein is prohibited.
11. Tenant
shall not conduct, or permit any other person to conduct, any auction upon
the Premises; manufacture or store goods, wares or merchandise upon the Premises, without the
prior written approval of Landlord, except the storage of usual supplies and inventory to be
used by
Tenant incidental to the purposes for which Tenant may use the Premises; permit the Premises
to be
used for gambling; make any noises in the Building that are objectionable to Landlord or other
occupants of the Building; permit to be played any musical instrument in the Premises, or
permit
any unusual odors to be produced upon the Premises; or create or maintain a nuisance thereon.
Tenant shall not occupy or permit any portion of the Premises leased to him to be occupied as
an
office for a public stenographer or typewriter, or for the possession, storage, manufacture,
or sale of
intoxicating beverages, narcotics, tobacco in any form, or as a xxxxxx or manicure shop.
12. No curtains, blinds, shades, screens, awnings or other form of inside or outside
window covering, or window ventilators or similar devices shall be attached to or hung in, or
used
in connection with, any window or door of the Premises, without the prior written consent of
Landlord. If Landlord consents, such coverings or devices must be of a quality, type, design,
and
color, and attached in a manner approved by Landlord.
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13. Canvassing, soliciting and peddling in the Building are prohibited, and Tenant shall
cooperate to prevent same. Tenant shall not exhibit, sell or offer for sale on the Premises or
in the
Building any article or thing, except those articles and things essentially connected with the
stated
use of the Premises, without the prior written consent of Landlord.
14. There shall not be used on the Premises or in the Building, either by Tenant or by
others in the delivery or receipt of merchandise, any hand trucks except those equipped with
rubber
tires and side guards.
15. Each
tenant, before closing and leaving the Premises, shall be responsible for the closing and locking of all entrance doors.
16. Tenant shall not use the name “Loudoun Tech Center” for any other purpose other
than that of a business address of Tenant, and shall never use any picture or likeness of the
Building
in any circulars, notices, advertisements or correspondence without the Landlord’s prior
written
consent. Tenant shall not advertise the business, profession or activities of the Tenant
conducted in
the Building in any manner which violates the letter or spirit of any code of ethics adopted
by any
recognized association or organization pertaining to such business, profession or activities.
17. Landlord hereby reserves to itself any and all rights not granted to Tenant hereunder,
including, but not limited to, the following rights which are reserved to Landlord for its
purposes in
operating the building:
(a) the exclusive right to use the name “Loudoun Tech Center” for all purposes,
except that Tenant may use the name as its business address and for no other purpose;
(b) the right to change the name or address of the Building or of the project
without notice or liability to Tenant;
(c) the right to install and maintain a sign or signs on the
exterior of the Building;
(d) the exclusive right to use or dispose of the use of the roof of the Building;
(e) the right to limit the space on the directory of the Building to be allotted to
Tenant;
(f) the right to grant to anyone the right to conduct any particular business or undertaking
in the Building.
18. In addition to all other liabilities for breach of any provision of these Rules and
Regulations, Tenant shall pay to Landlord all damages caused by such breach. The violation of
any such provision may also be restrained by injunction.
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