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EXHIBIT 10.25
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
XXXXXXXX XXXXX GARDEN OFFICES
LEASE AGREEMENT
by and between
SUNTRUST PLAZA ASSOCIATES, LLC,
a Georgia limited liability company
and
INTERLAND, INC.
a Georgia corporation
May 16, 0000
Xxxxxxx, Xxxxxxx
===============================================================================
0
XXXXXXXX XXXXX XXXXXX XXXXXXX
XXXXXXX, XXXXXXX
OFFICE LEASE
BASIC LEASE INFORMATION
Date: May 16, 2000
Landlord: SunTrust Plaza Associates, LLC,
a Georgia limited liability company
Tenant: Interland, Inc., a Georgia corporation
Paragraph 1, Premises: Suite 500
Subparagraph (h) Xxxxx 000
Xxxxxxxxx 0, Xxxxxxxx Xxxx of Premises: 50,863 square feet
of Rentable Area
Subparagraph (j)
Xxxxxxxxx 0, Xxxxxxxx Xxxx of Office Tower: 650,712 square feet
Subparagraph (j) of Rentable Area
Paragraph 1, Tenant's Percentage Share: 7.8165%
------
Subparagraph (l)
Paragraph 2 Commencement Date: Fifteen (15) days after
Delivery Date
Paragraph 2 Expiration Date: One day prior to the tenth (10th)
anniversary of the Commencement Date
for the initial portion of the Premises
Paragraph 3, Base Rental (per annum per square foot of
Subparagraph (a) Rentable Area of Premises): $16.25 for first Lease Year,
increasing each year thereafter
by 2.5% of the Base Rental in the
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then expiring Lease Year
Paragraph 31 Security Deposit: Beginning of
Lease Year Security Deposit
---------- ----------------
Year 1 $1,695,000
Year 2 $1,483,000
Year 3 $1,186,500
Year 4 $847,500
Year 5 $593,000
Years 6&7 $339,000
Years 8-10 $212,000
Paragraph 33 Tenant's Address
for Notices:
Prior to Commencement Date:
Interland, Inc.
000 Xxxxxxxx Xxxxxx
Xxxxx 000
Xxxxxxx, XX 00000
Attn: _____________________
Following Commencement Date:
Interland, Inc.
000 Xxxxxxxxx Xxxxxx Xxxxxx
Xxxxx 000
Xxxxxxx, XX 00000
Attn: _____________________
Xxxxxxxxx 00 Xxxxxxxx'x Xxxxxxx
for Notices:
SunTrust Plaza Associates, LLC
c/o Portman Management Company
000 Xxxxxxxxx Xxxxxx
Xxxxx XX-000
Xxxxxxx, Xxxxxxx 00000
Attn: Property Manager
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with copy sent to:
SunTrust Plaza Associates, LLC
c/o SunTrust Real Estate Corporation
000 Xxxx Xxxx Xxxxxx
Post Office Box 26665
Richmond, VA 23261-6665
Attn: Xx. Xxxxx X. Xxxxxxxxx
Paragraph 42 Exhibits:
EXHIBIT A - Legal Description
EXHIBIT B - Floor Plan(s)
EXHIBIT C - Initial Improvement of
the Premises
EXHIBIT C-1 - Definition of Premises Shell
EXHIBIT D - Rules and Regulations
EXHIBIT E - Additional Provisions
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BASIC LEASE INFORMATION CONTINUED . . .
EXHIBIT F - Memorandum of Commencement
of Rental
EXHIBIT G - Technical Specifications
Exhibit C - Initial Improvement of the Premises:
Landlord's Contribution (per square foot of Rentable Area
of Premises): $28.00
Exhibit E - Design Fee Allowance
$2.00 per square foot of Rentable Area of Premises
The provisions of the Lease identified above in the margin are those provisions
where references to particular Basic Lease Information appear. Each such
reference shall incorporate the applicable Basic Lease Information. In the event
of any conflict between any Basic Lease Information and the Lease, the Lease
shall control.
LANDLORD:
SUNTRUST PLAZA ASSOCIATES, LLC,
a Georgia limited liability company
By: SUNTRUST BANKS, INC.,
as Managing Partner
By: /s/ Xxxxx X. Xxxxxxxxx
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Title: First Vice President
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[SEAL]
TENANT:
INTERLAND, INC.,
a Georgia corporation
By: /s/ Xxxxx Xxxxxxxxx
---------------------------
Title: Senior Vice President
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[SEAL]
SUNTRUST XXXXX XXXXXX XXXXXXX
XXXXXXX, XXXXXXX
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TABLE OF CONTENTS Page
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1. Definitions.................................................................................... 1
2. Term; Completion of Improvements............................................................... 5
3. Rental......................................................................................... 6
4. Use............................................................................................ 8
5. Services....................................................................................... 9
6. Taxes Payable by Tenant........................................................................ 10
7. Alterations.................................................................................... 10
8. Liens.......................................................................................... 11
9. Repairs........................................................................................ 11
10. Destruction or Damage.......................................................................... 12
11. Insurance...................................................................................... 13
12. Release and Subrogation........................................................................ 13
13. Indemnification................................................................................ 14
14. Compliance with Legal Requirements............................................................. 15
15. Assignment and Subletting...................................................................... 15
16. Rules.......................................................................................... 17
17. Entry by Landlord.............................................................................. 18
18. Events of Default.............................................................................. 18
19. Remedies....................................................................................... 19
20. Landlord's Right to Cure Defaults.............................................................. 20
21. Attorney's Fees................................................................................ 21
22. Landlord's Default............................................................................. 21
23. Eminent Domain................................................................................. 22
24. Subordination.................................................................................. 22
25. No Merger...................................................................................... 24
26. Sale........................................................................................... 24
27. Estoppel Certificate........................................................................... 24
28. No Light, Air or View Easement................................................................. 24
29. Holding Over................................................................................... 24
30. Abandonment.................................................................................... 25
31. Security Deposit............................................................................... 25
32. Waiver......................................................................................... 26
33. Notices........................................................................................ 26
34. Complete Agreement............................................................................. 27
35. Corporate Authority............................................................................ 27
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36. [Intentionally Deleted]........................................................................ 27
37. Personalty of Tenant........................................................................... 27
38. Quiet Enjoyment................................................................................ 27
39. Hazardous Substances........................................................................... 27
40. Force Majeure.................................................................................. 28
41. Miscellaneous.................................................................................. 29
42. Exhibits; Additional Provisions ............................................................... 29
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SUNTRUST PLAZA GARDEN OFFICES
LEASE
THIS LEASE (hereinafter referred to as the "Lease"), dated as of May
____, 2000 (for the purpose of reference only), is made and entered into by and
between SUNTRUST PLAZA ASSOCIATES, LLC, a Georgia limited liability company
(hereinafter referred to as the "Landlord") and INTERLAND, INC., a Georgia
Corporation (hereinafter referred to as "Tenant");
W I T N E S S E T H:
Landlord hereby leases to Tenant, and Tenant hereby leases from
Landlord, the Premises for the term and subject to the terms, covenants,
agreements and conditions hereinafter set forth, to each and all of which
Landlord and Tenant hereby mutually agree.
1. DEFINITIONS. For the purposes of this Lease and in addition to
the terms defined elsewhere in this Lease, the following defined terms shall
have the meanings ascribed thereto in this Paragraph 1:
(a) "Additional Rental" shall mean the sums payable
pursuant to subparagraph 3(a)(2) of this Lease.
(b) "Base Rental" shall mean the sums payable pursuant to
subparagraph 3(a)(1) of this Lease.
(c) "Building" shall mean the land and other real
property located in Atlanta, Georgia, as more particularly described on Exhibit
A attached hereto and made a part hereof, the building constructed thereon known
as "SunTrust Plaza Garden Offices" (which name may be changed at Landlord's sole
discretion), and all other improvements on or appurtenances to said real
property.
(d) "Default Rate" shall mean a rate per annum equal to
the lesser of (i) the Prime Rate plus three (3) percentage points or (ii) the
highest rate of interest permitted by law. (e) "Delivery Date" as defined in
Paragraph 2(a).
(f) "Office Tower" shall mean all office floors of the
Building.
(g) "Operating Expenses" shall mean the aggregate of all
costs and expenses of ownership, management, operation and maintenance of the
Building and supporting
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