EXHIBIT 10.92
FIRST AMENDMENT TO LEASE AGREEMENT
FOR THE IKON BUILDINGS
FIRST AMENDMENT TO LEASE
THIS FIRST AMENDMENT TO LEASE (this "Amendment"), made and entered into as
of the 2/nd/ day of March, 2000 (the "Effective Date"), by and between SV
RESERVE, L.P., a Georgia limited partnership ("Landlord") and IKON OFFICE
SOLUTIONS, INC., an Ohio corporation ("Tenant");
W I T N E S S E T H T H A T:
WHEREAS, Landlord and Tenant entered into that certain Lease Agreement
dated December 17, 1999 (the "Lease") for certain premises in the buildings
commonly known as The Reserve at Green's Crossing located at 810 ("Building A")
and 820 ("Building B") Gears Road, Houston, Texas (sometimes collectively
referred to herein as the "Building"), consisting of a total of approximately
140,895 rentable square feet of space (the "Premises") [all of Building A which
consists of 78,895 rentable square feet of space (the "Phase I Space");
approximately 30,000 rentable square feet of space in Building B (the "Phase II
Space"); and, approximately 32,000 rentable square feet of space in Building B
(the "Phase III Space")];
WHEREAS, Landlord has agreed to lease additional premises to Tenant
consisting of the balance of the remaining space in Building B and Tenant has
agreed to lease from Landlord such additional premises; and
WHEREAS, Landlord and Tenant desire to evidence such expansion of the
Premises and to amend certain other terms and conditions of the Lease and
evidence their agreements and other matters by means of this Amendment.
NOW THEREFORE, in consideration of the mutual covenants contained herein,
and other good and valuable consideration, the receipt, adequacy and sufficiency
of which are hereby acknowledged, the Lease is hereby amended and the parties
hereto do hereby agree as follows:
1. Tenant shall lease from Landlord all of the remaining space located in
Building B as shown on Exhibit "A" attached hereto and by this reference
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made a part hereof which is composed of 16,895 rentable square feet of
space (the "Expansion Space"), increasing the total rentable square feet of
space leased pursuant to the Lease to 157,790. The Lease is hereby amended
by adding the Expansion Space as part of the Premises and, in particular
to, the Phase III Space for all purposes, except as set forth herein.
2. As Tenant now leases all of the space in Building A and Building B, Exhibit
C, Special Stipulations Nos. 9 and 10 are hereby deleted.
3. The Base Rent schedule as set forth in Section 3.1(a) of the Lease shall be
revised as follows:
Month of Base Rent per Annual Monthly
Term Square Foot Base Rent Base Rent
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1 - 2 $10.125 $ 798,811.87 $ 66,567.66
3 - 4 $10.125 $1,102,561.80 $ 91,880.15
5 - 9 $10.125 $1,597,623.75 $133,135.31
10 - 60 $12.775 $2,015,767.25 $167,980.60
61 - 120 $14.125 $2,228,783.75 $185,731.98
4. Tenant's Pro Rata Share is hereby amended to be one hundred percent (100%).
5. The tenant improvements for the Expansion Space shall be constructed in
accordance with the terms of Exhibit "E" to the Lease.
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6. Exhibit "B" of the Lease is hereby deleted in its entirety and shall be
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replaced by the exhibit attached hereto as Exhibit "B" and by this
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reference made a part hereof.
7. All capitalized terms used herein and not otherwise defined herein shall
have the meanings ascribed to them in the Lease.
8. This Amendment represents the entire agreement between the parties hereto.
Landlord and Tenant agree that there are no collateral or oral agreements
or understandings between them with respect to the Premises or the
Building. This Amendment supersedes all prior negotiations, agreements,
letters or other statements with respect to Tenant's expansion of the
Premises.
EXCEPT AS expressly amended and modified hereby, the Lease shall otherwise
remain in full force and effect, the parties hereto hereby ratifying and
confirming the same. To the extent of any inconsistency between the Lease and
this Amendment, the terms of this Amendment shall control.
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IN WITNESS WHEREOF, the undersigned parties have duly executed this
Amendment as of the day and year first above written.
LANDLORD: TENANT:
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S.V. RESERVE, L.P. IKON OFFICE SOLUTIONS, INC.
a Georgia limited partnership an Ohio corporation
By: SV Reserve GP, LLC, By: /s/ Xxxxxx Xxxx
a Georgia limited liability company, ----------------------------
its sole general partner Its: Director of Real Estate
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By:/s/ X.X. Xxxxxxxx, III
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X.X. Xxxxxxxx, III
President
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