EVERTEC, INC. RIDER CUPEY BUILDING FIRST AMENDMENT
Exhibit 10.56
EXECUTION VERSION
RIDER CUPEY BUILDING
FIRST AMENDMENT
1. | AMENDMENT. This First Amendment of Lease amends, effective as of January 1, 2006, the RIDER CUPEY BUILDING, of the Master Lease Agreement, dated April 1, 2004 for premises hereinafter referred to as Cupey Center. This Amendment is to reflect the changes in leaseable area of premises caused by staging process programmed to relocate the Tenant’s units to and from Cupey Center, and to establish the occupancy as per final area to be occupied. |
The Leaseable Area of Building shall be change from TWO HUNDRED SIXTY FIVE THOUSAND FIVE HUNDRED FIFTY ONE DOLLARS POINT TWENTY THREE (265,551.23) to TWO HUNDRED FORTY TWO THOUSAND SEVEN HUNDRED SIXTY EIGHT POINT EIGHTY NINE (242,768.89). Except as hereinafter provided, the RIDER CUPEY BUILDING dated April 1, 2004, and all its terms, provisions, covenants and conditions will remain in full force and effect.
2. | MEMORANDUM OF LEASE. This Memorandum RIDER is an integral part of the Master Lease Agreement and all of the terms hereof are incorporated into the agreement in all respects. Whenever used in the Master Lease Agreement the defined terms shall have the meaning set forth in this RIDER: |
a. Date: |
January 1st, 2006 | |||
b. Landlord: |
Banco Popular de Puerto Rico (including its successors or assigns). | |||
c. Landlord Representative: |
Xxxxx X. Xxxxxxx Xxxxxx | |||
x. Landlord’s Mailing Address: |
Real Estate Division (716) Banco Popular de Puerto Rico X.X. Xxx 000000 Xxx Xxxx, Xxxxxx Xxxx 00000-0000 | |||
e. Tenant: |
EVERTEC, Inc. | |||
f. Tenant’s Representative: |
Xxxx Xxxxx Xxxxxx | |||
g. Tenant’s Billing Address: |
Cupey Center Building |
Banco Popular de Puerto Rico X.X. Xxx 000000 Xxx Xxxx, Xxxxxx Xxxx 00000-0000 | ||||
h. Tenant’s Trade Name: |
EVERTEC | |||
i. Leased Premises: |
Cupey Center | |||
j. Permitted Use: |
Information technology services | |||
k. Leaseable Area of Premises: |
Original Area |
Modification 1/1/05 |
Modification 5/1/05 |
Modification 9/1/05 |
Modification 1/1/06 | ||||||
Building A1 |
28,896.77 | 28,896.77 | 28,896.77 | 28,896.77 | 30,481.05 | |||||
Building A2 |
48,395.09 | 48,395.09 | 48,395.09 | 48,395.09 | 49,327.78 | |||||
Building A3 |
43,457.44 | 43,457.44 | 50,475.49 | 50,475.49 | 50,314.69 | |||||
Building B1 |
15,545.24 | 15,545.24 | 20,332.51 | 20,332.51 | 29,710.55 | |||||
Building B2 |
4,630.01 | 4,630.01 | 4,630.01 | 16,050.88 | 30,596.11 | |||||
Building C3 |
2,795.01 | 2,795.01 | 2,795.01 | 2,795.01 | 2,780.98 | |||||
Building D1 |
7,081.87 | 7,081.87 | 7,081.87 | 7,081.87 | 6,953.06 | |||||
Building D2 |
6,526.42 | 5,321.21 | 5,321.21 | 5,321.21 | 5,951.46 | |||||
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Total |
157,327.85 | 156,122.64 | 167,927.96 | 179,348.83 | 206,115.68 |
l. Leaseable Area of Building: |
242,768.89 rentable square fee | |||
m. Tenant’s Proportionate Share of Operating |
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Expenses ((l) ÷ (m)): |
Original Area |
Modification 1/1/05 |
Modification 5/1/05 |
Modification 9/1/05 |
Modification 1/1/06 | ||||||
.59246 | .6425 | .6911 | .7381 | .8482 |
n. Original Lease Commencement Date: |
April 1st, 2004 | |||||||
o. Amendment Date: |
January 1st, 2006 | |||||||
p. Basic Rent |
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1. Annual Basic Rent: |
$14.42 per sq. ft. — $2,972,188.11 from 1/1/06 to 3/31/06 | |||||||
2. Monthly Basic Rent: |
$247,682.34 | |||||||
q. Additional Rent |
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1. Annual Additional Rent: |
$7.64 per sq. ft. — $1,574,723.80 per year (operating expenses as estimated from 1/1/06 to 3/31/06, to be adjusted as indicated in Section 12 of the Master Lease Agreement, including the Parking Garage) | |||||||
2. Monthly Additional Rent: |
$131,226.98 per month | |||||||
r. Original Termination Date: |
March 31, 2005 | |||||||
s. Renewal Term: |
On a year to year basis up to four renewal options | |||||||
t. Renewal Term Basic Rent: |
Increase of 3% each year over the prior year’s Basic Rent effective on the anniversary date | |||||||
u. Late Payment Charge: |
10% of any unpaid amount |
3. | COMMENTS. |
a. | The electricity will be charged separately based on actual consumption. |
b. | The leaseable area of premises is subject to revision to reflect any change in occupancy. |
4. | ATTACHMENTS. The following documents are attached to and made a part of the Rider. Tenant shall comply with all the terms and conditions contained in each of these documents. |
a. | Space Plan — Attachment A |
b. | Landlord Furnished Service — Attachment B (N/A) |
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Tenant | Landlord | |||||||
EVERTEC, Inc. | BANCO POPULAR DE PUERTO RICO | |||||||
By: |
/s/ Xxxx Xxxxx Xxxxxx |
By: | /s/ Xxxxxx XXXXXXXX XXXXX | |||||
XXXX XXXXX XXXXXX | XXXXXX XXXXXXXX XXXXX | |||||||
By: | /s/ Xxxxxxxx Xxxxx Xxxxxxx | |||||||
XXXXXXXX XXXXX XXXXXXX |
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