Contract
1.1 Basic
Lease Terms.
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A
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REFERENCE
DATE OF LEASE
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December
19, 2005
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B
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TENANT:
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Zones,
Inc.
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Trade
Name:
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_________________________
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Address
(Leased Premises):
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0000
XX Xxxxxx Xxxxxx, Xxxxx 000
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Portland,
Oregon 97210
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_________________________
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Address
(For Notices):
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0000
XX Xxxxxx Xxxxxx, Xxxxx 000
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Portland,
Oregon 97210
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_________________________
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C
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LANDLORD:
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Xxxxxxxxxx
Park I, LLC,
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an
Oregon limited liability company
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Address
(For Notices):
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Xxxx
Xxxxx Company
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0000
XX Xxxxxx, Xxxxx 000
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Portland,
OR 97210
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D
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PREMISES:
Suite
620
in
the Xxxxxxxxxx Park Building (the “Building”) at 0000 XX Xxxxxx Xx. xx
Xxxxxxxx, Xxxxxx, as generally shown on Exhibit A hereto.
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E
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PREMISES
AREA:
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Approximately
22,550
Rentable Square Feet (See Exhibit “A”); the final premises shall be
mutually agreed upon by Landlord and Tenant and subject to
a final space
plan.
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F
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LOAD
FACTOR: 14%
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G
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BUILDING
AREA:
Approximately 726,730 Rentable Square
Feet
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H
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TENANT’S
PROPORTIONATE SHARE:
3.10%. Landlord may modify Tenant's Proportionate Share
if the
Building size is increased or decreased, as the case may
be.
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I
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TENANT'S
PERMITTED USE OF PREMISES:
Premises shall be used as general offices.
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J
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TERM
OF LEASE:
Target Commencement Date:
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February
1, 2006
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Expiration
Date:
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July
31, 2016
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Number
of Full Calendar Months:
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126
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K
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CONCESSION
RENT:
No Base Rent shall be due for the first six (6) months of the
Lease
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[REMAINDER
OF PAGE INTENTIONALLY BLANK]
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Xxxxxxxxxx
Park - Zones Inc.
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Please
Initial
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Page
1
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_________
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December
2005
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Landlord
Tenant
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L
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BASE
RENT ADJUSTMENT:
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Period
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Monthly
Base Rent
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Rate/RSF
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Total
Base Rent
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Months 1 through 6
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$0.00
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$0.00
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$0.00
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Months 7 through 12
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$15,125.00*
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$16.50
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$90,750.00
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Months 13 through 24
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$31,945.83
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$17.00
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$383,350.00
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Months 25 through 36
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$32,885.42
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$17.50
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$394,625.00
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Months 37 through 48
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$33,881.38
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$18.03
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$406,576.50
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Months 49 through 60
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$34,896.13
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$18.57
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$418,753.50
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Months 61 through 72
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$35,948.46
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$19.13
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$431,381.50
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Months 73 through 84
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$37,019.58
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$19.70
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$444,235.00
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Months 85 through 96
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$38,128.29
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$20.29
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$457,539.50
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Months 97 through 108
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$39,274.58
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$20.90
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$471,295.00
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Months 109 through 120
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$40,458.46
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$21.53
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$485,501.50
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Months 121 through 126
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$41,661.13
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$22.17
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$249,966.75
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*
Monthly
Base Rent for months 7-12 is based on 11,000 RSF.
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M
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BASE
YEAR:
REAL PROPERTY TAXES 2006 - 2007 EXPENSES 2006
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N
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PARKING:
88 Spaces (See Addendum)
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O
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PREPAID
RENT: $15,125.00
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P
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SECURITY
DEPOSIT: $0.00
(Includes $0 cleaning fee)
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Q
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BROKER(S):
The Andover Company, Inc./Integrated Corporate Property Services
represents Tenant and shall be paid a fee of 5% for months 6-66
and 2.5%
for monthls 67-126 of the fully serviced lease amount. Landlord
shall pay
a fee of 5% on expansion and 2.5% on renewal, so long as The Andover
Company/Integrated Corporate Property Services represents Tenant
and is
actively involved in the deal.
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R
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GUARANTORS:
N/A
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If
Guarantor(s) is/are listed, Tenant shall cause all Guarantor(s)
to return
to Landlord an executed Guaranty of this Lease in the form attached
as
Exhibit D at the same time as Lease
execution..
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For
valuable consideration, Landlord and Tenant covenant and agree as
follows:
1.2 Lease
of Premises.
Landlord
leases to Tenant the premises described in the Basic Lease Terms and shown
on
Exhibit A (the “Premises”), located in the building described in the Basic
Lease Terms (the “Building”), subject to the terms and conditions of this Lease.
1.3 Delivery
of Possession and Commencement.
Should
Landlord be unable to deliver possession of the Premises on the Target
Commencement Date stated in the Basic Lease Terms, the commencement date will
be
deferred and Tenant shall owe no rent until notice from Landlord tendering
possession to Tenant. If possession is not so tendered within forty five (45)
days following the commencement date set forth in the Basic Lease Terms, then
Tenant may elect to terminate this Lease by notice to Landlord within ten (10)
days following expiration of the 45-day period. Landlord shall have no liability
to Tenant for delay in delivering possession. The expiration date of this Lease
shall be the date which is stated in the Basic Lease Terms or, if later, the
last day of the calendar month that is the number of full calendar months stated
in the Basic Lease Terms from the month in which the commencement date occurs.
The Premises shall be improved in accordance with Exhibit D “Work Letter”.
The existence of any “punchlist”-type items shall not postpone the commencement
date of this Lease Agreement. Landlord and Xxxxxx agreed to execute a
commencement date agreement (Exhibit E) after Xxxxxx’s occupancy of the Premises
to confirm the actual commencement date, the actual size of the Premises and
the
schedule of base rent.
2.1 Rent
Payment.
Tenant
shall pay to Landlord the Base Rent for the Premises and any additional rent
provided herein, without deduction or offset. At the same time as execution
of
the Lease, Tenant shall pay the Base Rent for the first full month of the Lease
term for which rent is payable. Rent is payable in advance on the first day
of
each month commencing on the commencement date of this Lease. Rent for any
partial month during the Lease term shall be prorated to reflect the number
of
days during the month that Tenant occupies the Premises. Additional rent means
amounts determined under Section 19 of this Lease and any other sums payable
by
Tenant to Landlord under this Lease. Rent not paid when due shall bear interest
at the rate of one-and-one-half percent per month, or if less the maximum
applicable rate of interest permitted by law, until paid. Landlord may at its
option impose a late charge of the greater of $.05 for each $1 of rent or $50
for rent payments made more than ten (10) days late in lieu of interest for
the
first month of delinquency. Tenant acknowledges that late payment by Tenant
to
Landlord of any rent or other sums due under this Lease will cause Landlord
to
incur costs not contemplated by this Lease, the exact amount of such costs
being
extremely difficult and impracticable to ascertain, and that such late charge
represents a fair and reasonable estimate of the costs that Landlord will incur
by reason of any such late payment and is not a penalty. Neither imposition
or
collection nor failure to impose or collect such late charge shall be considered
a waiver of any other remedies available for default. In addition to such late
charge, an additional charge of $75 shall be recoverable by Landlord for any
returned checks.
3.1 Security
Deposit. Intentionally
deleted
4.1 Use.
Tenant
shall use the Premises as a business for the Tenant's Permitted Use stated
in
the Basic Lease Terms and for no other purpose without Landlord’s written
consent. In connection with its use, Tenant shall at its expense promptly comply
and cause the Premises to comply with all applicable laws, ordinances, rules
and
regulations of any public authority (“Laws”) and shall not annoy, obstruct, or
interfere with the rights of other tenants of the Building. Tenant shall create
no nuisance nor allow any objectionable fumes, noise, light, vibration,
radiation, or electromagnetic waves to be emitted from the Premises. If any
sound or vibration produced by Xxxxxx's activities is detectable outside of
the
Premises, Tenant shall provide such insulation as is required to muffle such
sound or vibration and render it undetectable at Tenant's cost. Tenant shall
not
conduct any activities that will increase Landlord’s insurance rates for any
portion of the Building or that will in any manner degrade or damage the
reputation of the Building. Tenant shall pay before delinquency all taxes,
assessments, license fees and public charges levied, assessed or imposed upon
its business operations as well as upon all trade fixtures, leasehold
improvements, merchandise and other personal property in or about the
Premises.
4.2 Equipment.
Tenant
shall install in the Premises only such equipment as is customary for Tenant's
Permitted Use and shall not overload the floors or electrical circuits of the
Premises or Building or alter the plumbing or wiring of the Premises or
Building. Landlord must approve in advance the location of and manner of
installing any wiring or electrical, heat generating, climate sensitive or
communication equipment or exceptionally heavy articles. All telecommunications
equipment, conduit, cables and wiring, additional dedicated circuits and any
additional air conditioning required because of heat generating equipment or
special lighting installed by Tenant shall be installed and operated at Tenant’s
expense. Landlord shall have no obligation to permit the installation of
equipment by any telecommunications provider whose equipment is not then
servicing the Building. Tenant shall have no right to install any equipment
on
or through the roof of the Building, or use or store any equipment or other
items outside of the interior boundary of the Premises.
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Xxxxxxxxxx
Park - Zones Inc.
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Please
Initial
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Page
3
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December
2005
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_________
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Landlord Tenant
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4.3 Signs
and Other Installations.
No
signs,
awnings, or other apparatus shall be painted on or attached to the Building
or
anything placed on any glass or woodwork of the Premises or positioned so as
to
be visible from outside the Premises, including any window covering (e.g.,
shades, blinds, curtains, drapes, screens, or tinting materials) without
Landlord’s written consent, and Landlord's approval as to design, size,
location, and color. All signs installed by Tenant shall comply with Landlord’s
standards for signs and all applicable codes and all signs and sign hardware
shall be removed upon termination of this Lease with the sign location restored
to its former state unless Landlord elects to retain all or any portion thereof.
Tenant may not install any alarm boxes, foil protection tape or other security
equipment on the Premises without Landlord's prior written consent. Any material
violating this provision may be removed and disposed by Landlord without
compensation to Xxxxxx, and Tenant shall reimburse Landlord for the cost of
the
same upon request.
4.4 Parking.
If
a
number of parking spaces is designated in the Basic Lease Terms, then during
the
term of this Lease, Landlord shall make available to Tenant’s employees such
number of parking space(s) at the parking lot servicing the Building. Landlord's
obligation pursuant to this paragraph shall be limited to making such spaces
available in whatever manner Landlord deems appropriate (attended, unattended,
marked stalls, or other means), so long as the number of spaces referred to
are
made available to Tenant. Tenant shall be required to pay no rental for the
spaces made available to, and used by Tenant.
5.1 Utilities
and Services.
Landlord
will furnish water and electricity to the Building at all times and will furnish
heat and air conditioning (if the Building is air conditioned), at building
standard levels, during the normal Building hours, which are 6:00 a.m. to 6:00
p.m. Monday through Friday, and 6:00 a.m. to 12:00 p.m. Saturday, excluding
typically recognized holidays. Air conditioning in the building shall be
sufficient to maintain temperatures consistent with standard temperatures
maintained in office buildings that are similar in age, use and character as
the
Building. Landlord shall provide 24 hour air for Xxxxxx’s telephone room and
computer room. Tenant will reimburse Landlord for additional electricity costs
associated with this service. The space will be separately metered.
Janitorial
service will be provided on a five (5) times per week schedule consistent with
other Class A office buildings. The schedule and service may change from time
to
time. Tenant shall comply with all government laws or regulations regarding
the
use or reduction of use of utilities on the Premises. Interruption of services
or utilities shall not be deemed an eviction or disturbance of Tenant’s use and
possession of the Premises, render Landlord liable to Tenant for damages, or
relieve Tenant from performance of Tenant’s obligations under this Lease.
Landlord shall take all reasonable steps to correct any interruptions in service
caused by defects in utility systems within Landlord's reasonable control.
Electrical service furnished will be 110 volts unless different service already
exists in the Premises. Tenant shall provide its own surge protection for power
furnished to the Premises. Landlord shall have the exclusive right to choose
the
utility service providers to the Premises and may change providers at its
discretion. Tenant shall cooperate with Landlord and the utility service
providers at all times as reasonably necessary, and shall allow Landlord and
utility service providers, reasonable access to the pipes, lines, feeders,
risers, wiring, and any other machinery within the Premises. Tenant shall not
contract or engage any other utility provider without prior written approval
of
Landlord, which approval Landlord may withhold or condition in Landlord’s
discretion.
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Xxxxxxxxxx
Park - Zones Inc.
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Please
Initial
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Page
4
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December
2005
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_________
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Landlord Tenant
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5.2 Extra
Usage.
If
Tenant
uses excessive amounts of utilities or services of any kind because of operation
outside of normal Building hours, high demands from office machinery and
equipment, nonstandard lighting, or any other cause, Landlord may impose a
reasonable charge for supplying such extra utilities or services, which charge
shall be payable monthly by Tenant in conjunction with rent payments. In case
of
dispute over any extra charge under this paragraph, Landlord shall designate
a
qualified independent engineer whose decision shall be conclusive on both
parties. Landlord and Tenant shall each pay one-half of the cost of such
determination. Landlord reserves the right to install separate meters for any
such utility and to charge Tenant for the cost of such
installation.
5.3 Security.
Landlord
shall maintain security service to the building on a 24 hours per day, seven
days a week basis throughout the term of the Lease and Tenant shall cooperate
with all reasonable security measures adopted by Landlord. Tenant may install
a
security system within the Premises with Landlord’s written consent which will
not be unreasonably withheld. Landlord will be provided with an access code
to
any security system and shall not have any liability for accidentally setting
off Tenant’s security system. Landlord may modify the type or amount of security
measures or services provided to the Building or the Premises at any time
without notice. Security services, policies and procedures, along with other
building policies are detailed in the Xxxxxxxxxx Park Tenant Handbook (Exhibit
F).
6.1 Maintenance
and Repair.
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6.1.1
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Landlord
shall maintain and repair in good condition the Building structure,
roof,
exterior walls and doors, exterior windows and common areas of the
Building, and the electrical, mechanical, plumbing, heating and air
conditioning systems, facilities and components located in the Building
that are used in common by all tenants of the Building (including
replacing building standard light bulbs). Tenant shall maintain and
repair
the Premises in good condition, including, without limitation, maintaining
and repairing all walls, floors, and ceilings, all interior doors,
partitions and windows, and all Premises systems, fixtures and equipment
that are not the maintenance responsibility of Landlord, as well
as damage
caused by Tenant, its agents, employees, contractors or
invitees.
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6.1.2
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Landlord
shall have no liability for failure to perform required maintenance
and
repair unless written notice of such maintenance or repair is given
by
Xxxxxx and Landlord fails to commence efforts to remedy the problem
in a
reasonable time and manner. Landlord shall have the right to erect
scaffolding and other apparatus necessary for the purpose of making
repairs or alterations to the Building, and Landlord shall have no
liability for interference with Xxxxxx’s use because of such work. Work
may be done during normal business hours. Tenant shall have no claim
against Landlord for any interruption or reduction of services or
interference with Xxxxxx’s occupancy caused by Landlord’s maintenance and
repair, and no such interruption or reduction shall be construed
as a
constructive or other eviction of Tenant.
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6.1.3
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Landlord's
cost of repair and maintenance shall be considered “operating expenses”
for purposes of Section 19.3, except the structural replacement of
the
roof, walks, walls and foundation of the building and except the
repair of
damage caused by negligent or intentional acts or breach of this
Lease by
Tenant, its contractors, agents or invitees shall be at Tenant’s
expense.
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6.2 Alterations.
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6.2.1
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Tenant
shall not make any alterations, additions, or improvements to the
Premises, change the color of the interior, or install any wall or
floor
covering without Landlord’s prior written consent which may be withheld in
Landlord’s sole discretion. Should Landlord consent in writing to Tenant's
alteration of the Premises, Tenant shall contract with a contractor
approved by Landlord for the construction of such alterations, shall
secure all appropriate governmental approvals and permits, and shall
complete such alterations with due diligence in compliance with the
plans
and specifications approved by Landlord. All such construction shall
be
performed in a manner which will not interfere with the quiet enjoyment
of
other tenants of the Building. Any such improvements, alterations,
wiring,
cables or conduit installed by Tenant shall at once become part of
the
Premises and belong to Landlord, except for removable machinery and
unattached movable trade fixtures, however Tenant shall have the
right to
use such improvements over the term of the Lease and any lease renewals.
Landlord may at its option require that Tenant remove any improvements,
except for initial improvements described in Exhibit D, alterations,
wiring, cables or conduit installed by or for Tenant and restore
the
Premises to the original condition upon termination of this Lease.
Landlord shall have the right to approve the contractor used by Tenant
for
any work in the Premises, and to post notices of nonresponsbility
in
connection with work being performed by Tenant in the Premises. Work
by
Tenant shall comply with all laws then applicable to the Premises.
Tenant
shall not allow any liens to attach to the Building or Tenant’s interest
in the Premises as a result of its activities or any alterations.
Landlord
shall provide notice to Tenant prior to approval of and completion
of
alterations if such alterations will be required to be
restored.
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Xxxxxxxxxx
Park - Zones Inc.
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Please
Initial
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Page
5
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December
2005
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_________
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Landlord Tenant
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6.2.2
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Landlord
may perform alterations to or change the configuration of the Building,
the Building, the parking area, and other common
areas.
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7.1 Indemnity.
Tenant
shall indemnify, defend, and hold harmless Landlord and its managing agents
and
employees from any claim, liability, damage, or loss occurring on the Premises,
or any cost or expense in connection therewith (including attorney fees),
arising out of (a) any damage to any person or property occurring in, the
Premises, (b) use by Tenant or its agents, invitees or contractors of the
Premises and/or the Building except to the extent caused by Landlord’s
negligence, and/or (c) Tenant's breach or violation of any term of this
Lease.
7.2 Insurance.
Tenant
shall carry liability insurance with limits of not less than Two Million Dollars
($2,000,000) combined single limit bodily injury and property damage. This
may
be combined through the use/purchase of a General Liability and Umbrella/Excess
Liability policy. Insurance shall have an endorsement naming Landlord and
Landlord’s managing agent, if any, as an additional insured, shall cover the
liability insured under paragraph 7.1 of this Lease and be in a form and with
companies reasonably acceptable to Landlord (Best Rating of A-/VII or better).
Upon
signing this Lease, Tenant shall furnish a certificate evidencing such
insurance
which
shall state that the insurer shall endeavor to provide thirty (30) days advance
notice to Landlord of cancellation or material change. Tenant shall endeavor
to
furnish to Landlord a renewal certificate at least thirty (30) days prior to
expiration of any policy.
8.1 Fire
or Casualty.
“Major
Damage” means damage by fire or other casualty to the Building or the Premises
which causes the Premises or any substantial portion of the Building to be
unusable, or which will cost more than 25 percent of the pre-damage value of
the
Building to repair, or which is not covered by insurance. In case of Major
Xxxxxx, Landlord may elect to terminate this Lease by notice in writing to
the
Tenant within thirty (30) days after such date. If this Lease is not
terminated following Major Damage, or if damage occurs which is not Major
Damage, Landlord shall promptly restore the Premises to the condition existing
just prior to the damage. Tenant shall promptly restore all damage to tenant
improvements or alterations installed or paid for by Tenant or pay the cost
of
such restoration to Landlord if Landlord elects to do the restoration of such
improvements. If the Premises suffers Major damage and the Premises are not
restored to useable condition within 6 months of occurrence of such damage,
Tenant shall have the right to terminate the Lease with no further obligations
to the Landlord whatsoever. Unless the casualty was caused by Tenant, rent
shall
be reduced from the date of damage until the date restoration work being
performed by Landlord is substantially complete, with the reduction to be in
proportion to the area of the Premises not usable by Tenant.
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Xxxxxxxxxx
Park - Zones Inc.
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Please
Initial
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Page
6
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December
2005
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_________
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Landlord Tenant
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8.2 Waiver
of Subrogation.
Tenant
shall be responsible for insuring its personal property and trade fixtures
located on the Premises and any alterations or tenant improvements it has made
to the Premises. Neither Landlord, its managing agent nor Tenant shall be liable
to the other for any loss or damage caused by water damage, sprinkler leakage,
or any of the risks that are covered by property insurance or could be covered
by a customary broad form of property insurance policy, or for any business
interruption, and there shall be no subrogated claim by one party’s insurance
carrier against the other party arising out of any such loss.
9.1 Eminent
Domain.
If
a
condemning authority takes title by eminent domain or by agreement in lieu
thereof to the entire Building or a portion sufficient to render the Premises
unsuitable for Tenant’s use, then either party may elect to terminate this Lease
effective on the date that possession is taken by the condemning authority.
If
this Lease is not terminated, then rent shall be reduced for the remainder
of
the term in an amount proportionate to the reduction in area of the Premises
caused by the taking. All condemnation proceeds shall belong to Landlord, and
Tenant shall have no claim against Landlord or the condemnation award because
of
the taking.
10.1 Assignment
and Subletting.
Except
as
defined in 26.1, Tenant shall not assign or encumber its interest under this
Lease or sublet all or any portion of the Premises without first obtaining
Landlord’s consent in writing. This provision shall apply to all transfers by
operation of law, and to all mergers and changes in control of Tenant, all
of
which shall be deemed assignments for the purposes of this paragraph. No
assignment shall relieve Tenant of its obligation to pay rent or perform other
obligations required by this Lease, and no consent to one assignment or
subletting shall be a consent to any further assignment or subletting. If Xxxxxx
proposes a subletting or assignment for which Xxxxxxxx's consent is required,
Landlord shall have the option of terminating this Lease and dealing directly
with the proposed subtenant or assignee, or any third party. If Landlord does
not terminate this Lease, Landlord shall not unreasonably withhold its consent
to any assignment or subletting provided the effective rental paid by the
subtenant or assignee is not less than the current scheduled rental rate of
the
Building for comparable space and the proposed Tenant is compatible with
Landlord’s normal standards for the Building. If an assignment or subletting is
permitted, any cash net profit, or the net value of any other consideration
received by Tenant as a result of such transaction shall be paid to Landlord
promptly following its receipt by Tenant. Tenant shall pay any costs incurred
by
Landlord in connection with a request for assignment or subletting, including
reasonable attorneys’ fees.
11.1 Default.
Any
of
the following shall constitute an Event of Default by Tenant under this Lease
(time of performance being of the essence of this Lease):
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11.1.1
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Tenant’s
failure to pay rent or any other charge under this Lease within
ten (10) days after it is due.
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11.1.2
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Tenant’s
failure to comply with any other term or condition within twenty
(20) days
following written notice from Landlord specifying the noncompliance.
If
such noncompliance cannot be cured within the 20-day period, this
provision shall be satisfied if Tenant commences correction within
such
period and thereafter proceeds in good faith and with reasonable
diligence
to complete correction as soon as possible but not later than ninety
(90)
days after the date of Landlord's
notice.
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Xxxxxxxxxx
Park - Zones Inc.
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Please
Initial
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Page
7
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December
2005
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_________
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Landlord Tenant
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11.1.3
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Failure
of Tenant to execute the documents described in Section 16.1 or 16.3
within the time required under such Sections; failure of Tenant to
provide
or maintain the insurance required of Tenant pursuant hereto; or
failure
of Tenant to comply with any Laws as required pursuant hereto within
24
hours after written demand by
Landlord.
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11.1.4
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Tenant’s
insolvency, business failure or assignment for the benefit of its
creditors. Tenant’s commencement of proceedings under any provision of any
bankruptcy or insolvency law or failure to obtain dismissal of any
petition filed against it under such laws within the time required
to
answer; or the appointment of a receiver for all or any portion of
Tenant’s properties or financial
records.
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11.1.5
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Assignment
or subletting by Tenant in violation of paragraph
10.1.
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11.1.6
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Vacation
or abandonment of the Premises without the written consent of Landlord
or
failure to occupy the Premises within twenty (20) days after notice
from
Landlord tendering possession.
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11.2 Remedies
for Default.
Upon
occurrence of an Event of Default as described in paragraph 11.1, Landlord
shall
have the right to the following remedies, which are intended to be cumulative
and in addition to any other remedies provided under applicable law or under
this Lease:
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11.2.1
|
Landlord
may at its option terminate this Lease, without prejudice to its
right to
damages for Tenant's breach. With or without termination, Landlord
may
retake possession of the Premises and may use or relet the Premises
without accepting a surrender or waiving the right to damages. Following
such retaking of possession, efforts by Xxxxxxxx to relet the Premises
shall be sufficient if Landlord follows its usual procedures for
finding
tenants for the space at rates not less than the current rates for
other
comparable space in the Building. If Landlord has other vacant space
in
the Building, prospective tenants may be placed in such other space
without prejudice to Landlord’s claim to damages or loss of rentals from
Tenant.
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11.2.2
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Landlord
may recover all damages caused by Tenant’s default which shall include an
amount equal to rentals lost because of the default, Lease commissions
paid for this Lease, and the unamortized cost of any tenant improvements
installed by or paid for by Landlord. Landlord may sue periodically
to
recover damages as they occur throughout the Lease term, and no action
for
accrued damages shall bar a later action for damages subsequently
accruing. Landlord may elect in any one action to recover accrued
damages
plus damages attributable to the remaining term of the Lease. Such
damages
shall be measured by the difference between the rent under this Lease
and
the reasonable rental value of the Premises for the remainder of
the term,
discounted to the time of judgment at the prevailing interest rate
on
judgments.
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11.3 Landlord's
Right To Cure Default.
Landlord
may, but shall not be obligated to, make any payment or perform any obligation
which Tenant has failed to perform when required under this Lease. All of
Landlord's expenditures incurred to correct the failure to perform shall be
reimbursed by Tenant upon demand with interest from the date of expenditure
at
the rate of one and one-half percent per month. Xxxxxxxx's right to correct
Xxxxxx's failure to perform is for the sole protection of Landlord and the
existence of this right shall not release Tenant from the obligation to perform
all of the covenants herein required to be performed by Xxxxxx, or deprive
Landlord of any other right which Landlord may have by reason of default of
this
Lease by Tenant, whether or not Landlord exercises its right under this
paragraph.
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12.1 Surrender;
Holdover.
On
expiration or early termination of this Lease Tenant shall deliver all keys
to
Landlord and surrender the Premises vacuumed, swept, and free of debris and
in
the same condition as at the commencement of the term subject only to reasonable
wear from ordinary use. Tenant shall remove all of its furnishings and trade
fixtures that remain its property and any alterations, cables or conduits if
required by paragraph 6.2.1 and shall repair all damage resulting from such
removal. Failure to remove shall be an abandonment of the property, and Landlord
may remove or dispose of it in any manner without liability, and recover the
cost of removal and other damages from Tenant. If Tenant fails to vacate the
Premises when required, including failure to remove all its personal property,
Landlord may elect either: (i) to treat Tenant as a tenant from month to month,
subject to the provisions of this Lease except that rent shall be 125% of the
total rent being charged when the Lease term expired, and any option or other
rights regarding extension of the term or expansion of the Premises shall no
longer apply; or (ii) to eject Tenant from the Premises (using self-help or
otherwise) and recover damages caused by Xxxxxx continuing to occupy the
Premises after the Lease term has expired without the permission of the
Landlord. In
the
absence of a lease extension or agreement otherwise, no less than one hundred
(100) days prior to the expiration of the Lease, Tenant shall provide Landlord
written notice advising the Landlord that the Tenant will not be extending
the
Lease and in said notice, Tenant shall request notice from the Landlord whether
the Landlord will require the Tenant to vacate on or before the Lease expiration
date or if the Landlord will approve of the Tenant remaining in the Premises
after the expiration date as a month to month Tenant. Landlord shall respond
and
answer this notice from Tenant within ten (10) days of receipt.
13.1 Regulations.
Landlord
shall have the right but shall not be obligated to make, revise and enforce
rules and regulations or policies consistent with this Lease for the purpose
of
promoting safety, health, order, economy, cleanliness, and good service to
all
tenants of the Building, including, but not limited to, moving, use of common
areas and prohibition of smoking. All such regulations and policies including
those, if any, attached to this Lease, shall be complied with as if part of
this
Lease and failure to comply shall be a default.
14.1 Access.
Tenant
shall have access to its premises 24 hours a day, seven days a week, subject
to
emergency conditions which may preclude access and subject to normal building
security policies for after hours access. During times other than normal
Building hours Tenant’s officers and employees or those having business with
Tenant may be required to identify themselves or show passes in order to gain
access to the Building. Landlord shall have no liability for permitting or
refusing to permit access by anyone. Landlord may regulate access to any
Building elevators outside of normal Building hours. Landlord shall have the
right to enter upon the Premises at any time by passkey or otherwise to
determine Tenant’s compliance with this Lease, to perform necessary services,
maintenance and repairs or alterations to the Building or the Premises, to
post
notices of nonresponsibility, or to show the Premises to any prospective tenant
or purchasers. Except in case of emergency such entry shall be at such times
and
in such manner as to minimize interference with the reasonable business use
of
the Premises by Xxxxxx.
14.2 Furniture
and Bulky Articles.
Tenant
shall move furniture and bulky articles in and out of the Building or make
independent use of any elevators only at times approved by Landlord following
at
least 24 hours written notice to Landlord of the intended move.
15.1 Notices.
Notices
between the parties relating to this Lease shall be in writing, effective when
delivered during business hours by facsimile transmission, hand delivery,
private courier, or regular or certified U.S. mail. Notices shall be delivered
postage prepaid, to the address or facsimile number for the party stated in
the
Basic Lease Terms or to such other address as either party may specify by notice
to the other. Notice to Tenant may always be delivered to the Premises. Rent
shall be payable to Landlord at the same address and in the same manner, but
shall be considered paid only when received.
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16.1 Subordination
and Attornment.
This
Lease shall be subject to and subordinate to any mortgages, deeds of trust,
ground lease, master lease or land sale contracts (here after collectively
referred to as encumbrances) now existing against the Building. At Landlord’s
option this Lease shall be subject and subordinate to any future encumbrance,
ground lease or master lease hereafter placed against the Building (including
the underlying land) or any modifications of existing encumbrances, and Tenant
shall execute such documents as may reasonably be requested by Landlord or
the
holder of the encumbrance to evidence this subordination. If any encumbrance
is
foreclosed, then if the purchaser at foreclosure sale gives to Tenant a written
agreement to recognize Tenant’s Lease, Tenant shall attorn to such purchaser and
this Lease shall continue.
16.2 Transfer
of Building.
If
the
Building is sold or otherwise transferred by Landlord or any successor, Tenant
shall attorn to the purchaser or transferee and recognize it as the landlord
under this Lease, and, provided the purchaser or transferee assumes all
obligations under this Lease thereafter accruing, the transferor shall have
no
further liability hereunder.
16.3 Estoppels.
Either
party will within ten (10) days after notice from the other execute, acknowledge
and deliver to the other party a certificate certifying whether or not this
Lease has been modified and is in full force and effect; whether there are
any
modifications or alleged breaches by the other party; the dates to which rent
has been paid in advance, and the amount of any security deposit or prepaid
rent; and any other facts that may reasonably be requested. Failure to deliver
the certificate within the specified time shall be conclusive upon the party
of
whom the certificate was requested that the Lease is in full force and effect
and has not been modified except as may be represented by the party requesting
the certificate. If requested by the holder of any encumbrance, or any
underlying lessor, Tenant will agree to give such holder or lessor notice of
and
an opportunity to cure any default by Landlord under this Lease.
17.1 Attorneys’
Fees.
In
any
litigation arising out of this Lease, including any bankruptcy proceeding,
the
prevailing party shall be entitled to recover attorneys’ fees at trial and on
any appeal or petition for review. If Landlord incurs attorneys’ fees because of
a default by Tenant, Tenant shall pay all such fees whether or not litigation
is
filed. If Landlord employs a collection agency to recover delinquent charges,
Xxxxxx agrees to pay all collection agency and other fees charged to Landlord
in
addition to rent, late charges, interest and other sums payable under this
Lease.
18.1 Quiet
Enjoyment.
Landlord
warrants that so long as Tenant complies with all terms of this Lease it shall
be entitled to possession of the Premises free from any eviction or disturbance
by Landlord or parties claiming through Landlord.
18.2 Limitation
on Liability.
Notwithstanding
any provision in this Lease to the contrary, neither Landlord nor its managing
agent or employees shall have any liability to Tenant for loss or damages to
Tenant’s property from any cause, nor arising out of the acts, including
criminal acts, of other tenants of the Building or third parties, nor any
liability for consequential damages, nor liability for any reason which exceeds
the value of its interest in the Building.
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19.1 Additional
Rent: Tax Adjustment.
Whenever
for any July 1 - June 30 tax year the real property taxes levied against the
Building and its underlying land exceed those levied for the Base Year for
taxes
stated in the Basic Lease Terms, then the monthly rent for the next succeeding
calendar year shall be increased by one-twelfth of such tax increase times
Tenant’s Proportionate Share. Landlord may revise Tenant’s monthly payments of
real property tax increases during any year with reasonable cause and the
additional estimate shall be payable as equal additions to rent for the
remainder of the calendar year. Following the end of each calendar year, or
when
actual tax year information becomes available, Landlord shall compute the actual
real property taxes and bill Tenant for any deficiency or credit Tenant with
any
excess collected. Tenant shall pay any such deficiency within thirty (30) days
after Landlord’s billing, whether or not this Lease shall have expired or
terminated at the time of such billing. “Real property taxes” as used herein
means all taxes and assessments of any public authority against the Building
and
the land on which it is located, the cost of contesting any tax and any form
of
fee or charge imposed on Landlord as a direct consequence of owning or leasing
the Premises, including but not limited to rent taxes, gross receipt taxes,
leasing taxes, or any fee or charge wholly or partially in lieu of or in
substitution for ad valorem real property taxes or assessments, whether now
existing or hereafter enacted. If any portion of the Building is occupied by
a
tax-exempt tenant so that the Building has a partial tax exemption under ORS
307.112 or a similar statute, then real property taxes shall mean taxes computed
as if such partial exemption did not exist. If a separate assessment or
identifiable tax increase arises because of improvements to the Premises, then
Tenant shall pay 100 percent of such increase.
19.2 Additional
Rent: Operating Expense Adjustment.
Tenant
shall pay as additional rent Tenant’s Proportionate Share, of the amount by
which operating expenses for the Building increase over those experienced by
Landlord during the Base Year for expenses stated in the Basic Lease Terms.
Effective January 1 of each year Landlord shall estimate the amount by which
operating expenses are expected to increase, if any, over those incurred in
the
base year. Monthly rent for that year shall be increased by one-twelfth of
Tenant’s share of the estimated increase, provided that Landlord may revise its
estimate during any year with reasonable cause and the additional estimate
shall
be payable as equal additions to rent for the remainder of the calendar year.
Following the end of each calendar year, Landlord shall compute the actual
increase in operating expenses and bill Tenant for any deficiency or credit
Tenant with any excess collected. Tenant shall pay any such deficiency within
thirty (30) days after Landlord’s billing, whether or not this Lease shall have
expired or terminated at the time of such billing. As used herein “operating
expenses” shall mean all costs of operating, maintaining and repairing the
Building as determined by standard real estate accounting practice, including,
but not limited to: all water and sewer charges; the cost of natural gas and
electricity provided to the Building; janitorial and cleaning supplies and
services; administration costs and market management fees; superintendent fees;
security services, if any; insurance premiums; licenses, permits for the
operation and maintenance of the Building and all of its component elements
and
mechanical systems; ordinary and emergency repairs and maintenance, and the
annual amortized capital improvement cost (amortized over such a period as
Landlord may select but not shorter than the period allowed under the Internal
Revenue Code and at a current market interest rate) for any capital improvements
to the Building required by any governmental authority or those which have
a
reasonable probability of improving the operating efficiency of the Building.
“Operating Expenses” shall also include all assessments under recorded covenants
or master plans and/or by owner's associations. If electricity or other energy
costs increase between the date of this Lease and last day of the Base Year,
(i)
Tenant shall pay to Landlord, on a monthly basis as additional rent, its
Proportionate Share of such cost increase for the period from the date of such
increase until the first estimated payment due under this paragraph, and (ii)
Landlord may adjust the calculation of Base Year operating expenses by using
the
energy costs in effect on the date of this Lease.
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19.3 Disputes.
If
Tenant
disputes any computation of additional rent or rent adjustment under paragraphs
19.1 through 19.3 of this Lease, it shall give notice to Landlord not later
than
thirty (30) days after the notice from Landlord describing the computation
in
question, but in any event not later than (thirty) 30 days after expiration
or
earlier termination of this Lease. If Tenant fails to give such a notice, the
computation by Landlord shall be binding and conclusive between the parties
for
the period in question. If Xxxxxx gives a timely notice, the dispute shall
be
resolved by an independent certified public accountant selected by Landlord
whose decision shall be conclusive between the parties. Each party shall pay
one-half of the fee for making such determination except that if the adjustment
in favor of Xxxxxx does not exceed ten percent of the escalation amounts for
the
year in question, Tenant shall pay (i) the entire cost of any such
third-party determination; and (ii) Landlord’s out-of-pocket costs and
reasonable expenses for personnel time in responding to the audit. Nothing
herein shall reduce Tenant’s obligations to make all payments as required by
this Lease.
20.1 Hazardous
Materials.
Neither
Tenant nor Tenant's agents or employees shall cause or permit any Hazardous
Material, as hereinafter defined, to be brought upon, stored, used, generated,
released into the environment, or disposed of on, in, under, or about the
Premises, except reasonable quantities of cleaning supplies and office supplies
necessary to or required as part of Tenant's business that are generated, uses,
kept, stored, or disposed of in a manner that complies with all laws regulating
any such Hazardous Materials and with good business practices. Tenant covenants
to remove from the Premises (or the Building, if applicable), upon the
expiration or sooner termination of this Lease and at Tenant's sole cost and
expense, any and all Hazardous Materials brought upon, stored, used, generated,
or released into the environment during the term of this Lease. To the fullest
extent permitted by law, Tenant hereby agrees to indemnify, defend, protect,
and
hold harmless Landlord, Xxxxxxxx's managing agent and their respective agents
and employees, and their respective successors and assigns, from any and all
claims, judgments, damages, penalties, fines, costs, liabilities, and losses
that arise during or after the term directly or indirectly from the use,
storage, disposal, release or presence of Hazardous Materials on, in, or about
the Premises which occurs during the term of this Lease. Tenant shall promptly
notify Landlord of any release of Hazardous Materials in, on, or about the
Premises that Tenant
or
Tenant's agents or employees becomes aware of during the Term of this Lease,
whether caused by Tenant, Tenant's agents or employees, or any other persons
or
entities.
As used
herein, the term “Hazardous Material” means any hazardous or toxic substance,
material, or waste which is or becomes regulated by any local governmental
authority, the state of Oregon or the United States government. The term
“Hazardous Material” includes, without limitation, any material or substance
that is (i) defined as a “hazardous waste,” “extremely hazardous waste,”
“restricted hazardous waste,” “hazardous substance,” “hazardous material,” or
“waste” under any federal, state or local law, (ii) petroleum, and
(iii) asbestos.
The
provisions of this Section 20, including, without limitation, the
indemnification provisions set forth herein, shall survive any termination
of
this Lease.
21.1 Complete
Agreement; No Implied Covenants.
This
Lease and the attached Exhibits and Schedules if any, constitute the entire
agreement of the parties and supersede all prior written and oral agreements
and
representations and there are no implied covenants or other agreements between
the parties except as expressly set forth in this Lease. Neither Landlord nor
Tenant is relying on any representations other than those expressly set forth
herein.
21.1.1 Space
Leased AS IS.
Unless
as
otherwise stated in the Lease, the Premises are leased AS IS in the condition
delivered to Tenant in accordance with paragraph 1.3 of the Lease, with no
other
alterations or other work to be performed by Landlord other than as specified
in
paragraph 1.3 (punchlist items as described in the Lease).
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21.2 Captions.
The
titles to the paragraphs of this Lease are descriptive only and are not intended
to change or influence the meaning of any paragraph or to be part of this
Lease.
21.3 Nonwaiver.
Failure
by Landlord to promptly enforce any regulation, remedy or right of any kind
under this Lease shall not constitute a waiver of the same and such right or
remedy may be asserted at any time after Landlord becomes entitled to the
benefit thereof notwithstanding delay in enforcement.
21.4
Consent.
Except
where otherwise provided in this Lease, either party may withhold its consent
for any reason or for no reason whenever that party’s consent is required under
this Lease.
21.5
Force Majeure.
If
performance by Landlord of any portion of this Lease is made impossible by
any
prevention, delay, or stoppage caused by strikes, lockouts, labor disputes,
acts
of God, inability to obtain services, labor, or materials or reasonable
substitutes for those items, government actions, civil commotions, fire or
other
casualty, or other causes beyond the reasonable control of Landlord, performance
by Landlord for a period equal to the period of that prevention, delay, or
stoppage is excused.
21.6
Commissions.
Each
party represents that it has not had dealings with any real estate broker,
finder or other person with respect to this Lease in any manner, except for
the
broker(s) identified in the Basic Lease Terms. Landlord shall pay a leasing
commission in accordance with a separate listing agreement between Landlord
and
its broker.
21.7
Successors.
This
Lease shall bind and inure to the benefit of the parties, their respective
heirs, successors, and permitted assigns.
21.8
Exhibits.
The
following Exhibits are attached hereto and incorporated as a part of this
Lease:
Addendum
to Lease
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Exhibit
A
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Leased
Premises
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Exhibit
B
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Xxxxxxxxxx
Park Legal Description
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Exhibit
C
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Rules
and Regulations
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Exhibit
D
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Work
Agreement
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Exhibit
E
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Commencement
Date Agreement Form
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Exhibit
F
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Tenant
Manual
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IN
WITNESS WHEREOF, the duly authorized representatives of the parties have
executed this Lease as of the day and year first written above.
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LANDLORD:
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TENANT:
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ZONES,
INC.,
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an
Oregon limited liability company
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By:
Xxxx Xxxxx Company,
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By:
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an
Oregon corporation, member
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Its:
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By:
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Xxxxxxxx
Xxxxx
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Date: | ||||
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Its:
President
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Date:
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ADDENDUM
TO LEASE
Between
XXXXXXXXXX
PARK I, LLC,
an
Oregon limited liability company
and
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22.1
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Parking.
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During
the term of the Lease, Landlord will provide 88 unreserved monthly parking
spaces as designated by Landlord at no additional cost to Tenant (4.0 spaces
per
1,000 RSF). Additional month-to-month parking spaces may
be
purchased, subject to availability, at a monthly rate of $60.00 per
space.
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23.1
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Early
Access.
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Effective
January 1, 2006 Tenant shall have early access to the Premises for completion
of
any work by Tenant such as installation of telecommunications, equipment, data
services, systems furniture, etc. provided it does not interfere with completion
of Tenant Improvements. Early access shall be at no charge to Tenant and shall
not trigger commencement of the lease.
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24.1
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Option
to Renew.
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Tenant
shall have the right to renew the Lease for one (1) additional term of five
(5)
years (“Renewal Term”). Xxxxxx agrees to notify Landlord in writing of its
intent to renew nine (9) months prior to the termination of the preceding term.
The Renewal Term shall be under the same terms and conditions subject to the
following conditions:
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(i)
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There
shall not be a default under any of the terms or provisions of this
Lease
beyond any applicable notice and cure period at the commencement
of the
Renewal Term.
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(ii)
|
The
Renewal Term shall be under the same terms and conditions as specified
in
the Lease, except Tenant shall lease the Premises in its then "as-is"
condition, and the Rent for the Renewal Term shall be at 95% of the
then
Market Rate, but not less than the Rent for the Premises in effect
immediately prior to the commencement of such Renewal
Term.
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(iii)
|
As
used herein, the term "Market Rate" shall be determined by the amount
of
base annual rent per square foot then prevailing market rate being
charged
in comparable buildings located in the metropolitan area of Portland,
Oregon (the "Comparable Office Buildings") for space comparable to
the
Premises calculated on a per square foot basis for leases covering
Comparable Office Buildings (taking into account all relevant factors,
including but not limited to the size of space, setting, type, age,
quality of the Building, method of paying taxes, utilities, and operating
expenses, length of term, free rent or other concessions, brokerage
commissions and improvement obligations or allowance, but as adjusted
for
any variances between such buildings and the Building, the
creditworthiness of the tenants, and omitting from same value attributable
to improvements made by or at the cost of Tenant.
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(iv)
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Within
thirty (30) days after Landlord receives the notice of Xxxxxx's exercise
of the renewal option, Landlord shall notify Tenant of the proposed
Market
Rate. In the event that Landlord and Tenant are not able to agree
as to
the Market Rate and the applicable escalation rate within sixty (60)
days
of good faith negotiation, then the Rent for the Renewal Term shall
be
determined in accordance with the arbitration provision set forth
below:
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(A) If
Landlord and Tenant cannot agree upon the Market Rate as provided above, then
each party shall, within five (5) days following expiration of the sixty (60)
day period set forth above, select an arbitrator to determine the Market Rate.
If the two arbitrators cannot agree, within fifteen (15) days following their
appointment, on the Market Rate, then they shall, within five (5) days
thereafter, select a third arbitrator who will consider the proposal of each
party's arbitrator, and shall, within five (5) days from the third arbitrator's
appointment, adopt the finding of either the Landlord's or the Tenant's
arbitrator with respect to Market Rate, which finding shall be final and binding
upon the parties. If the first two arbitrators are unable to agree upon the
third arbitrator, then the third arbitrator shall be appointed by the presiding
judge of the Circuit Court of the State of Oregon for the County of Multnomah.
If one of the parties appoints an arbitrator, and the other does not do so
within the period provided herein, the decision of the single arbitrator
appointed by the one party shall be binding upon the parties. All arbitrators
selected pursuant to this Section shall be independent commercial real estate
appraisers or real estate brokers licensed in the State of Oregon with at least
ten (10) years' experience, immediately prior to the date in question,
evaluating rental rates for similar properties in the Portland, Oregon, market
and who have not previously been employed by either Landlord or Tenant within
the last 12 months. The appraisers shall have no right to modify the terms
of
this Lease in their findings.
(B) In
the
event Tenant fails to timely notify Landlord in the manner herein specified,
Tenant shall be conclusively deemed to have waived its right to enter into
the
Renewal Term.
Should
Tenant exercise the Renewal Term, Landlord shall provide Tenant a $5.00 per
rentable square foot refurbishment package to be used at Tenant’s discretion
with Xxxxxxxx’s approval, which shall not be unreasonably withheld.
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25.1
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Right
of First Offer.
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Tenant
shall have a continuous right of first offer on any contiguous space that may
come available in the building and the approximate 22,000 rentable square feet
directly above Tenant’s premises on the seventh floor during the Initial Term or
Renewal Term provided Tenant is not then in default on any of the lease terms
and obligations (the "Right of First Offer Space"). At the time of the delivery
to a prospective tenant by Landlord of a bona fide proposal to lease all or
a
portion of the Right of Offer Space, Landlord shall provide, and hereby grants,
to Tenant, a right of first offer with respect to the Offered Space (as defined
below) on the following terms and conditions:
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(i)
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At
such time as Landlord delivers to a prospective tenant a bona fide
proposal for leasing any portion of the Right of Offer Space (the
"Offered
Space"), Landlord shall provide Tenant a written notice ("Landlord's
Notice of Terms") describing the financial terms and conditions of
the
proposed lease between Landlord and the prospective
tenant.
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Xxxxxxxxxx
Park - Zones Inc.
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Please
Initial
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December
2005
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_________
_______
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Landlord Tenant
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(ii)
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The
deadline for Tenant to exercise its right to lease the Offered Space
(the
"Exercise Deadline") shall be seven (7) days from the receipt of
Landlord's Notice of Terms. If Tenant fails to provide written notice
of
exercise to Landlord prior to the Exercise Deadline, Landlord shall
have
the right to lease the Offered Space to a third party on terms and
conditions no more favorable to the third party than those set forth
in
Landlord's Notice of Terms. If Landlord does not enter into a lease
for
the Offered Space on such terms within six (6) months following Xxxxxx's
receipt of Landlord's Notice of Terms, Landlord shall be required
to
re-offer the Offered Space to Tenant prior to leasing it to any third
party.
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(iii)
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If
Tenant exercises its right of first offer prior to the Exercise Deadline,
Tenant shall lease the Offered Space on the terms and conditions
set forth
in Landlord's Notice of Terms. Landlord and Tenant shall enter into
a new
lease or an amendment to this Lease with respect to the Offered Space
containing terms and conditions identical to those specified in Landlord's
Notice of Terms.
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26.1
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Assignment
and Subletting.
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Tenant
shall have a continuing right to sublease all or a portion of the premises
with
Landlord’s approval, which shall not be unreasonably withheld, conditioned or
delayed. Landlord shall deliver a response to Tenant within ten (10) days
following Xxxxxx’s request to sublease.
Tenant
shall have the right to sublease or assign its rights under the terms of this
Lease to its subsidiaries, affiliates, successor legal entities or subsidiaries
or affiliates of Tenant without Landlord’s consent provided signee is of equal
or greater financial standing with no significant change of use. Such company
shall assume Xxxxxx’s obligations hereunder. Tenant shall notify Landlord in
writing of any transfer under this paragraph.
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27.1
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Right
to Cancel.
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Tenant
shall have the right to cancel the lease after the 68th
month of
the lease term, October 1, 2011. Tenant must provide at least twelve (12) months
prior written notice to cancel the lease, and at such time pay to Landlord
all
the unamortized Tenant Improvement costs (including credit received by Xxxxxx)
and leasing commissions paid by Xxxxxxxx, plus three (3) months of the scheduled
base rent at the time notice is given.
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28.1
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Signage.
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Landlord
will provide at its sole cost directory and suite signage consistent with
Building standards.
In lieu of outside signage, Tenant may hang their corporate flag on a flagpole
in front of the Building main entrance.
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29.1
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Training
Room.
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Landlord
shall provide a room within the building to be used by Tenant for the purpose
of
initial hiring and training of new employees beginning January 2, 2006 at no
charge. The room shall accommodate 50 people and have data connectivity and
electrical power to run approximately 50 PCs. This will be provided until
Xxxxxxxx delivers possession of the Premises to Tenant in accordance with
paragraph 1.3 of the Lease.
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30.1
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Interview
Offices.
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Landlord
shall provide two offices within the Building for Tenant to use for interviewing
purposes
effective November 29, 2005.
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Xxxxxxxxxx
Park - Zones Inc.
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Please
Initial
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17
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December
2005
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_________
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Landlord Tenant
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31.1
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Fitness
Facility.
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Landlord
shall, at its sole cost, construct an athletic fitness facility with lockers
and
showers consistent with the plan provided by Xxxxxx. Fitness membership shall
include access to facility, towel service and day lockers. The membership fee
shall be $5.00 per month for Tenant’s employees and other building occupants.
Fees for the fitness facility shall not increase annually by more than the
CPI,
and never shall the membership fee be more than 50% of the fee charge by a
24
Hour Fitness facility in the Portland metropolitan area.
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32.2
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After
hours HVAC Service
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After
hours HVAC charges are $20.00 per hour. Building standard hours are 6:00 a.m.
to
6:00 p.m. Monday through Friday and 6:00 a.m. to 12:00 p.m. on
Saturday.
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Xxxxxxxxxx
Park - Zones Inc.
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Please
Initial
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18
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December
2005
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_________
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Landlord Tenant
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