Exhibit 10.1(a)
LEASE AMENDMENT
This Lease Amendment is dated January 22, 1999 by and between National Life
Insurance Company ("Landlord") and Radio One, Inc. ("Tenant").
WITNESSETH
WHEREAS, the parties hereto entered into a Standard Office Lease dated the 3rd
of February 1997 for the Premises known as Xxxxxx 000, 000 xxx 000 xx Xxxxxx
Xxxxxx at 0000 Xxxxxxxx Xxxxxx Xxxxxxx, Xxxxxx Xxxxxxxx ("Lease"); and
WHEREAS, Tenant desires to lease additional space in Lanham Centre.
NOW, THEREFORE, in consideration of the mutual convenants herein contained and
other good and valuable consideration, it is agreed between Landlord and Tenant
that the Lease is hereby modified as follows.
1. PREMISES AND TERM: The Premises shall be increased, effective February
1, 1999, to include Xxxxx 000, containing approximately 4,371 rentable
square feet.
2. ADDITIONAL BASE RENT: The base rent defined in the Lease is increased
monthly by the following:
February 1, 1999 -- December 31, 1999 $5,114.07 per month
January 1, 2000 -- December 31, 2000 $5,318.05 per month
January 1, 2001 -- December 31, 2001 $5,532.96 per month
January 1, 2002 -- December 31, 2002 $5,751.51 per month
January 1, 2003 -- December 31, 2003 $5,980.99 per month
January 1, 2004 -- December 31, 2004 $6,221.39 per month
January 1, 2005 -- December 31, 2005 $6,472.72 per month
January 1, 2006 -- December 31, 2006 $6,731.34 per month
January 1, 2007 -- December 31, 2007 $6,997.24 per month
January 1, 2008 -- December 31, 2008 $7,277.72 per month
January 1, 2009 -- December 31, 2009 $7,569.12 per month
January 1, 2010 -- December 31, 2010 $7,871.44 per month
January 1, 2011 -- December 31, 2011 $8,188.34 per month
3. USE: Suite 150 shall be used only for General Office and/or Reception
uses and/or Broadcast Studio use. In the event Tenant uses Suite 150
for Broadcast Studio use, the electric service to such broadcast
studio(s) shall be routed through the electric submeter for the
existing Broadcast Suite and the electric cost of such Broadcast Studio
use in Suite 150 shall be included with the cost of electricity for the
Broadcast Suite and roof top antennas as provided in Paragraph 11.2 of
the Lease.
4. CONDITION AT COMMENCEMENT: Suite 150 shall be delivered to Tenant upon
lease execution in "as is" condition in accordance with Paragraph
6.3(b) of the Lease.
5. LANDLORD CONTRIBUTION TO TENANT'S CONSTRUCTION: Landlord will
contribute $52,452.00 toward Tenant's construction of improvements in
Suite 150, payable upon completion and issuance of a Certificate of
Occupancy and delivery to Landlord of an acceptable final lien waiver.
Tenant shall comply with all the provisions of Paragraph 7.3 and 7.6 in
the construction of its improvements to Suite 150.
6. REAL ESTATE TAXES: The percentage in Paragraph 1.11 of the Lease is
amended to 27.79% effective February 1, 1999.
7. LANDLORD'S NOTICE ADDRESS: Paragraph 23 is amended to replace the
notice address for the Landlord with:
National Life Insurance Company
Equity Real Estate Department
One National Xxxx Xxxxx
Xxxxxxxxxx, XX 00000
All other terms and conditions of the Lease remain in full force and effect.
IN WITNESS OF THIS LEASE AMENDMENT, Landlord and Tenant have properly executed
it as on the dates set out below.
LANDLORD: NATIONAL LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx X. XxxXxxxxx
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Xxxxxxx X. XxxXxxxxx
Vice President, Equity Real Estate
Date: 2/3/99
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TENANT: RADIO ONE, INC.
By: /s/ Xxxxxx Xxxxxxx
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Xxxxxx Xxxxxxx
President
Date:
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Amendment to Lease Amendment
National Life Insurance Company ("Landlord") and Radio One, Inc.
("Tenant") entered into that certain Lease Amendment dated January 22, 1999 with
respect to Tenant's lease of Suite 150 in Lanham Centre at 0000 Xxxxxxxx Xxxxxx
Xxxxxxx, Xxxxxx, Xxxxxxxx (the "Leased Premises"). Paragraph 5 of said Lease
Amendment provides that Landlord will contribute $52,452.00 to Tenant in
connection with certain improvements to be made to the Leased Premises; but such
contribution is to be made upon completion of such work, and upon the
satisfaction of certain other conditions.
Landlord hereby waives the conditions, and has paid Tenant $52,452.00
in complete satisfaction of its contribution obligations under paragraph 5 of
the Lease Amendment. Tenant hereby acknowledges receipt of $52,452.00 from
Landlord in complete satisfaction of Landlord's obligations under paragraph 5 of
the Lease Amendment, and further agrees that neither Landlord nor any successor
landlord (including but not limited to Xxxxx'x Lanham Centre, LLC, the contract
purchaser of Lanham Centre) has any liability to Tenant under paragraph 5 of the
Lease Amendment.
All other terms of the Lease remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment to Lease
Amendment in counterparts (each of which will be considered an original) this
29th day of July, 1999.
RADIO ONE, INC. NATIONAL LIFE INSURANCE
COMPANY
/s/ Xxxxxx X. Xxxxxxx
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By: Xxxxxx X. Xxxxxxx By: Xxxxxxx X. Xxxxxxxxx
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Its: President Its: Vice President, Equity
-------------------------- Real Estate
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ACKNOWLEDGED:
XXXXX'X LANHAM CENTRE, LLC
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By: Xxxx Parsinger
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Its: Manager
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