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EXHIBIT 10.8
SECOND AMENDMENT TO LEASE
This Second Amendment to Lease ("Second Amendment") is dated as of May 21,
1996 between Advent Realty Limited Partnership II, a Delaware limited
partnership with an address at 00 Xxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000
("Landlord"), and Xxxxxxxxx Research, Inc., a Delaware corporation with an
address at 0000 Xxxxxxxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxxxxxx 00000 ("Tenant").
WHEREAS, Landlord and Tenant have entered into that certain Lease dated as
of May 1, 1995 demising the second floor and a portion of the third floor of the
Building, and granting Tenant certain rights with respect to the third, fourth,
fifth and sixth floors of the Building, and that certain First Amendment to
Lease dated as of August 28, 1995 adding to the Premises certain space on the
third floor of the Building (as so amended, the "Lease");
WHEREAS, Landlord and Tenant desire to add to the Premises the remainder of
the third floor and the entire fifth and sixth floors of the Building in
accordance with the Lease and on the terms contained herein;
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, and in consideration of the mutual
covenants herein contained, Landlord and Tenant hereby agree as follows. Terms
not defined herein shall have the same meaning as in the Lease.
1. TERM COMMENCEMENT AND EXPIRATION DATES. Landlord and Tenant hereby
confirm that the Term Commencement Date is June 12, 1995 and that the Term
Expiration Date is January 31, 2001. Landlord and Tenant hereby reconfirm that
pursuant to that certain Consent to Sublease dated March 28, 1996 between
Landlord, Tenant and The Xxxxxxxx Associates, Inc., the term of the Lease with
respect to the fifth and sixth floors of the Building commences May 21, 1996 and
expires June 8, 2001.
2. MEASUREMENT OF THE PREMISES AND THE BUILDING. Effective May 21, 1996,
Section 1.1 of the Lease shall be amended by deleting the defined term "RENTABLE
FLOOR AREA OF THE PREMISES" and substituting therefor the following:
"RENTABLE FLOOR AREA OF 47,974 Square Feet
THE PREMISES:
Second Floor: 13,223 Square Feet
Third Floor: 9,751 Square Feet
Fifth Floor: 12,500 Square Feet
Sixth Floor: 12,500 Square Feet"
Effective June 3, 1996, Section 1.1 of the Lease shall be amended by
deleting the defined term "RENTABLE FLOOR AREA OF THE PREMISES" and substituting
therefor the
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following:
"RENTABLE FLOOR AREA OF 51,446 Square Feet
THE PREMISES:
Second Floor: 13,223 Square Feet
Third Floor: 13,223 Square Feet
Fifth Floor: 12,500 Square Feet
Sixth Floor: 12,500 Square Feet"
Notwithstanding anything to the contrary contained in this Lease, the first
floor of the Building shall be deemed to contain two areas comprising 4273
rentable square feet and 2459 rentable square feet respectively, the mezzanine
floor of the Building shall be deemed to contain two areas comprising 4,957
rentable square feet and 694 rentable square feet respectively, and the fourth
floor of the Building shall be deemed to contain 12,500 rentable square feet.
Section 1.1 of the Lease is hereby amended by deleting the defined term
"TOTAL RENTABLE FLOOR AREA OF THE BUILDING" and substituting therefor the
following:
"TOTAL RENTABLE FLOOR AREA OF 76,329 Square Feet"
THE BUILDING:
3. ANNUAL BASIC RENT. Effective May 21, 1996, Section 1.1 of the Lease
shall be amended by deleting the defined term "ANNUAL BASIC RENT" and
substituting therefor the following:
"ANNUAL BASIC RENT:
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TIME PERIOD ANNUAL RATE CALCULATION
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June 12, 1995 through $293,019.65 $17.05 x 13,223 rsf +
August 31, 1995 $9.10 x 7,425 rsf
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September 1, 1995 through $327,909.65 $17.05 x 13,223 rsf +
December 11, 1995 $9.10 x 7,425 rsf +
$15.00 x 2,326 rsf
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December 12, 1995 through $386,938.40 $17.05 x 20,648 rsf +
May 20, 1996 $15.00 x 2,326 rsf
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May 21, 1996 through $861,938.40 $17.05 x 20,648 rsf +
June 2, 1996 $15.00 x 2,326 rsf +
$19.00 x 25,000 rsf
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June 3, 1996 through $914,018.40 $17.05 x 20,648 rsf +
June 11, 1997 $15.00 x 5,798 rsf +
$19.00 x 25,000 rsf
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June 12, 1997 through $924,755.36 $17.57 x 20,648 rsf +
June 30, 1997 $15.00 x 5,798 rsf +
$19.00 x 25,000 rsf
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July 1, 1997 through $939,656.22 $17.57 x 26,446 rsf +
June 11, 1999 $19.00 x 25,000 rsf
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June 12, 1999 through $950,763.54 $17.99 x 26,446 rsf +
January 31, 2001 $19.00 x 25,000 rsf
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February 1, 2001 through $475,000.00 $19.00 x 25,000 rsf
June 8, 2001
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4. THIRD FLOOR EXPANSION AREA. The defined term "Third Floor Delivery Date"
is hereby revised to mean June 3, 1996.
5. PARKING. Effective September 1, 1996, Section 1.1 of the Lease shall be
amended by deleting the defined term "PARKING" and substituting therefor the
following:
"PARKING: Fifty-seven (57) spaces"
The parking plan dated July 3, 1996 attached hereto as Exhibit A shall
effective such date be substituted for the parking plans attached to the side
letter agreement dated May 1, 1995 between Landlord and Tenant, which is
attached to the Lease as Exhibit G.
Until September 1, 1996 Landlord shall permit Linea 5, inc. and The
Xxxxxxxx Associates, Inc. to continue to use the parking spaces which they were
entitled to use immediately prior to May 21, 1996, provided that Landlord shall
receive payment therefor at the rate payable by Tenant under the Lease for
parking spaces.
6. MISCELLANEOUS. In Article XIII of the Lease, the words "Rider Section 3"
are hereby deleted, and the words "Articles XVII and XVIII" are substituted
therefor.
Except as expressly modified herein, all the terms and conditions of the
Lease shall remain in full force and effect and are hereby ratified and
confirmed.
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IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed in multiple counterparts under seal as of the date first above written.
Landlord:
ADVENT REALTY LIMITED PARTNERSHIP II
By: Advent Realty XX XX Limited Partnership, its
General Partner
By: Advent Realty, Inc., its General Partner
By: /s/ Xxxxxx X. Xxxxx
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Tenant:
XXXXXXXXX RESEARCH, INC.
By: /s/ Xxxxxx X. Colony
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Xxxxxx X. Colony, President
