5625 Square Feet
00000 Xxxxxxx Xxxxx
Xxxxx #X000
Xxxxxxx, Xxxxx 00000
LEASE AGREEMENT
This Lease Agreement is made and entered into by and between:
AMERICAN GENERAL LIFE INSURANCE COMPANY
HEREINAFTER REFERRED TO AS "LANDLORD", AND
INDUSTRIAL DATA SYSTEMS
HEREINAFTER REFERRED TO AS "TENANT".
WITNESSETH:
1. PREMISES AND TERM.
In consideration of the obligation of Tenant to pay rent as herein
provided, and in consideration of the other terms, provisions and covenants
hereof, Landlord hereby demises and leases to Tenant, and Tenant hereby takes
from Landlord certain premises ("Premises") situated within the County of
Xxxxxx, State of Texas, more particularly described on Exhibits "A" and
"A-1" attached hereto and incorporated herein by reference, together with all
rights, privileges, easements, appurtenances and immunities belonging to or in
any way pertaining to the Premises.
TO HAVE AND TO HOLD the same for a term commencing on February 1, 1991
("Commencement Date") and ending January 31, 1994 thereafter; provided,
however, that in the event the "Commencement Date" is a date other than the
first day of a calendar month, said term shall extend for said number of months
in addition to the remainder of the calendar month following the "Commencement
Date".
Tenant accepts the Premises on an "as-is" basis, except that the Premises
will be cleaned and the lighting and air conditioning systems will be
operational. Tenant acknowledges that no representations as to the condition of
the Premises have been made by Landlord, unless such are expressly set forth in
this Lease. After such Commencement Date Tenant shall, upon demand, execute and
deliver to Landlord a letter of acceptance of delivery of the Premises. Landlord
will furnish miniblinds in all front offices with windows.
2. RENT AND SECURITY DEPOSIT.
A. As part of the consideration for the execution of this Lease, and for
the Lease and use of the Premises, Tenant covenants and agrees and promises to
pay as rental to Landlord or Landlord's assignees, a total sum of Seventy Three
Thousand Five Hundred Seventy Five Dollars and 00/100 DOLLARS ($73,575.00),
payable in the amount of One Thousand Eight Hundred Dollars and 00/100 DOLLARS
($1,800.00) per month for months one through twelve, One Thousand Nine Hundred
Twelve Dollars and 50/100 DOLLARS ($1,912.50) per month for months thirteen (13)
through twenty-four (24) and Two Thousand Four Hundred Eighteen Dollars and
75/100 DOLLARS ($2,418.75) per month for months twenty-five (25) through
thirty-six (36). The first such monthly installment shall be due and payable on
the date hereof and the appropriate monthly installment shall be due and payable
in advance without demand, deduction or set off, on or before the first day of
each calendar month succeeding the Commencement Date during the hereby demised
term, except that the rental payment for any fractional calendar month at the
commencement or end of the Lease period shall be prorated. Failure by Tenant to
pay any monthly installment of rent by the fifth (5th) day from the date such
payment was due shall be considered an event of default in accordance with the
provisions of Paragraph 18(a) of this lease Agreement.
B. Tenant agrees to pay Landlord, as additional rental, all charges for
any service, goods, or materials furnished by Landlord at Tenant's request which
are not required to be furnished by Landlord under this Lease, (as well as all
other sums payable by Tenant hereunder), within ten (10) days after Landlord
renders a statement therefor to Tenant. All past due additional rental amounts
shall bear interest from the date due until paid at the maximum rate allowed by
law.
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C. In addition, Tenant agrees to deposit with Landlord on the date hereof
the sum of One Thousand Eight Hundred Dollars and 00/100 DOLLARS ($1,800.00),
which sum shall be held by Landlord, without obligation for interest, as
security for the performance of Tenant's covenants and obligations under this
Lease, it being expressly understood and agreed that such deposit is not an
advance rental deposit or a measure of Landlord's damages in case of Tenant's
default. Upon the occurrence of any event of default by Tenant, Landlord may,
from time to time, without prejudice to any other remedy provided herein or
provided by law, use such fund to the extent necessary to make good any arrears
of rent or other payments due Landlord hereunder, and any other damage, injury,
expense or liability caused by such event of default; and Tenant shall pay to
Landlord, on demand, the amount so applied in order to restore the security
deposit to its original amount. Although the security deposit shall be deemed
the property of Landlord, any remaining balance of such deposit shall be
returned by Landlord to Tenant at such time after termination of this Lease
providing that all of Tenant's obligations under this Lease have been fulfilled.
3. USE.
The Premises shall be used only for the purposes of receiving, storing,
shipping, and selling (other than retail) products, materials and merchandise
made and/or distributed by Tenant and for such other lawful purposes as may be
incidental thereto. Tenant shall conduct such activities in such a manner as to
not constitute a violation of the covenants and deed restrictions of Century
Plaza. Outside storage, including, without limitation, trucks and other
vehicles, is prohibited without Landlord's prior written consent. Tenant shall
obtain, at its own cost and expense, any and all licenses and permits necessary
for any such use. Tenant shall comply with all governmental laws, ordinances and
regulations applicable to the use of the Premises, and shall promptly comply
with all governmental orders and directives for the correction, prevention and
abatement of nuisances in, upon, or in connection with the Premises, all at
Tenant's sole expense. Tenant shall not permit any objectional or unpleasant
odors, smoke, dust, gas, noise or vibrations to emanate from the Premises, nor
take any other action which would constitute a nuisance or would disturb or
endanger any other Tenants of the building situated on the Premises or
unreasonably interfere with their use of their respective Premises. Without
Landlord's prior written consent, Tenant shall not receive, store or otherwise
handle any product, material or merchandise which is explosive or highly
inflammable. Tenant will not permit the Premises to be used for any purpose or
in any manner, (including, without limitation, any method of storage) which
would render the insurance thereon void or the insurance risk more hazardous or
cause the State Board of Insurance or other insurance authority to disallow any
sprinkler credits.
4. TAXES.
A. Landlord agrees to pay, before they become delinquent, all taxes,
assessments, and governmental charges of any kind and nature whatsoever
(hereinafter collectively referred to as "taxes") lawfully levied or assessed
against the Premises. If the Tenant's proportionate share of Taxes on the
Premises, during a real estate tax year, occurring within the term hereof or
during any renewal or extension of this term, shall exceed an amount equal to
$1991 EXPENSE/sq. ft. of net rental area in the Premises/year, Tenant shall pay
to Landlord as additional rent, upon demand, the amount of such excess. In the
event any such amount is not paid within ten (10) days after the date of
Landlord's invoice to Tenant, the unpaid amount shall bear interest from the
date due until paid at the maximum interest rate allowed by law.
B. Tenant's "proportionate share", as used in this Lease, shall mean a
fraction, the numerator of which is the net rentable square footage of the space
contained in the Premises and the denominator of which is the net rentable
square footage of the entire space contained in the building of which the
Premises is a part, as further defined in Subparagraph 27.0.
C. If at any time during the term of this Lease the present method of
taxation shall be changed so that in lieu of the whole or any part of any taxes,
assessments or governmental charges levied, assessed or imposed on real estate
and the improvements thereon, there shall be levied, assessed or imposed on
Landlord a capital levy or other tax directly on the rents received therefrom
and/or a franchise tax, assessment, levy or charge measured by or based, in
whole or in part, upon such rents from the Premises, then all such taxes,
assessments, levies or charges or the part thereof so measured or based, shall
be deemed to be included within the term "taxes" for the purposes hereof.
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D. The Landlord shall have the right to employ a tax consulting firm to
attempt to assure a fair tax burden on the building and grounds of which the
Premises is a part within the applicable taxing jurisdictions.
Tenant shall pay to Landlord the amount of Tenant's "proportionate share"
(as defined in Subparagraph 4B above) of the cost of such service.
E. Any payment to be made pursuant to this Paragraph 4 with respect to the
real estate tax year in which this Lease commences or terminates shall be
prorated.
F. Tenant shall pay all ad valorem and similar taxes or assessments levied
upon or applicable to all equipment, fixtures, furniture, and other property
placed by Tenant in the Premises and all license and other fees or charges
imposed on the business conducted by Tenant on the Premises. It is agreed that
Tenant will also be responsible for ad valorem taxes on the value of Leasehold
improvements to the extent that such leasehold improvements exceed standard
building allowances.
5. LANDLORD'S REPAIRS.
Landlord shall, at his expense, maintain only the roof, foundation, and the
structural soundness of the exterior walls of the building in good repair,
reasonable wear and tear excepted. Tenant shall repair and pay for any damage
caused by the negligence of Tenant, or Tenant's employees, agents or invitees,
or caused by Tenant's default hereunder. The term "walls" as used herein shall
not include windows, glass or plate glass, doors, special store fronts or office
entries. Tenant shall immediately give Landlord written notice of defect or need
for repairs, after which Landlord shall have reasonable opportunity to repair
same or cure such defect. Landlord's liability with respect to any defects,
repairs or maintenance for which Landlord is responsible under any of the
provisions of this Lease shall be limited to cost of such repairs or maintenance
or the curing of such defect.
6. TENANT'S REPAIRS.
A. Tenant shall, at his own cost and expense, keep and maintain all parts
of the Premises (except those for which Landlord is expressly responsible under
the terms of this Lease) in good condition, promptly making all necessary
repairs and replacements, including, but not limited to, windows, glass and
plate glass doors, special store fronts or office entries, interior walls and
finish work, floors and floor covering, downspouts, gutters, heating and air
conditioning systems, truck doors, dock bumpers, paving, plumbing work and
fixtures, termite and pest extermination, regular removal of trash and debris,
keeping the parking areas, driveways, alleys, and the whole of the Premises in a
clean and sanitary condition. Tenant shall not be obligated to repair any damage
caused by fire, tornado or other casualty covered by the insurance to be
maintained by Landlord pursuant to Subparagraph 13A below, except that Tenant
shall be obligated to repair all wind damage to glass, except with respect to
tornado or hurricane damage.
B. Tenant shall not damage any demising wall or disturb the integrity and
support provided by any demising wall and shall, at its sole cost and expense,
promptly repair any damage or injury to any demising wall caused by Tenant or
its employees, agents or invitees.
C. Tenant and its employees, customers and licensees shall have the right
to use the parking areas, if any, as may be designated by Landlord in writing,
subject to such reasonable rules and regulations as Landlord may from time to
time prescribe and subject to rights of ingress and egress of other Tenant's.
Landlord shall not be responsible for enforcing Tenant's parking rights against
any third parties. Landlord reserves the right to perform the paving and
landscape maintenance, exterior painting, common sewage line plumbing, and care
for the grounds around the building of which the Premises is a part, and Tenant
shall be liable for its proportionate share (as defined in Subparagraph 4B
above) of the cost and expense. If Tenant or any other particular Tenant of the
building of which the Premises is a part can be clearly identified as being
responsible for obstructions or stoppage of the common sanitary sewage line,
then Tenant, if Tenant is responsible, or such other responsible Tenant, shall
pay the entire cost thereof, upon demand, as additional rent. Tenant shall pay,
when due, its share, determined as aforesaid, of such costs and expenses along
with the other Tenants of the building to Landlord, upon demand, as additional
rent, for the amount of
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its share as aforesaid of such costs and expenses in the event Landlord elects
to perform or cause to be performed such work. In the event any such amount is
not paid within ten (10) days after the date of Landlord's invoice to Tenant,
the unpaid amount shall bear interest from the date due until paid at the
maximum interest rate allowed by law.
D. Tenant shall, at its own cost and expense maintain and service all hot
water, heating and air conditioning systems and equipment within the Premises.
This maintenance should include regular filter changes and lubrication of
equipment, as well as other prudent preventive maintenance procedures.
Landlord's representatives will inspect and service the heating and air
conditioning equipment prior to the Commencement Date and will certify the
equipment to be operational on the Commencement Date.
7. COMMON AREA MAINTENANCE.
A. Tenant agrees to pay Landlord as additional rent $.04 PER SQUARE FOOT
of net rentable area in the Premises per month as its estimated share of the
common area services which are provided by Landlord for mutual benefit of all
Tenants. These services may include but are limited to general landscaping,
mowing of grass, care of shrubs (including replacement of dead or diseased
plants); operation and maintenance of lawn sprinkler system; operation and
maintenance of exterior security lighting; water service and sewer charges;
repainting of exterior surfaces of truck doors, handrails, downspouts, and other
parts of the building which require periodic preventative maintenance; and the
prorata share of Century Plaza common area maintenance and security service
charges.
B. The actual cost of these services shall be prorated among Tenants on a
basis of net rentable square footage occupied in the same manner as provided in
Subparagraph 4B above. Landlord shall send Tenant an annual statement of actual
common area service costs along with either an invoice or a rebate for the
amount that Tenant's actual proportionate share exceeded, or was less than,
Tenant's $.04/SQ. FT. of net rentable area in the Premises per month common area
service payment for the year then ended. Tenant agrees to reimburse Landlord
within ten (10) days after receipt of such invoice from Landlord. Subject to
Landlord's reasonable discretion, this monthly common area service charge may be
renegotiated periodically based upon increases in Landlord's annual cost of
providing these services.
8. ALTERATIONS.
Tenant shall not make any alterations, additions or improvements to the
Premises (including, but not limited to, roof and wall penetrations) without the
prior written consent of Landlord. If Landlord consents to Tenant's contractors
doing the work, Landlord may require, at Landlord's sole option, that Tenant
provide, at Tenant's expense, a lien and completion bond in an amount equal to
one and one half (1-1/2) times any and all estimated costs of improvements,
additions or alterations in the Premises to insure Landlord against any
liability or mechanic's and materialmen's liens which may arise in accordance
with Paragraph 23 of this Lease Agreement and to insure completion of the work.
Tenant may, without the consent of Landlord, but at its own cost and expense and
in a good workmanlike manner, erect such shelves, bins, machinery and trade
fixtures as it may deem advisable, without altering the basic character of the
building or improvements and without overloading or damaging the building or
improvements, and in each case complying with all applicable governmental laws,
ordinances, regulations and other requirements. All alterations, additions,
improvements and partitions erected by Tenant shall be and remain the property
of Tenant during the term of this Lease and Tenant shall, unless Landlord
otherwise elects as hereinafter provided, remove all alterations, additions,
improvements, and partitions erected by Tenant and restore the Premises to their
original condition by the date of termination of this Lease or upon earlier
vacating of the Premises; provided, however, that if Landlord so elects prior to
termination of this Lease or upon earlier vacating of the Premises, such
alterations, additions, improvements, and partitions shall become the property
of Landlord as of the date of termination of this Lease or upon earlier vacating
of the Premises and shall be delivered up to the Landlord with the Premises. All
shelves, bins, machinery and trade fixtures installed by Tenant may be removed
by Tenant prior to the termination of this Lease if Tenant so elects, and shall
be removed by the date of termination of this Lease or upon earlier vacating of
the Premises if required by Landlord. Upon any such removal, Tenant shall
restore the Premises to their original condition. All such
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removals and restoration shall be accomplished in a good workmanlike manner so
as not to damage the primary structure or structural qualities of the building
and other improvements situated on the Premises.
9. SIGNS.
Tenant shall have the right to install signs upon the Premises only when
first approved in writing by Landlord and subject to any applicable governmental
laws, ordinances, regulations, Landlord's standard sign criteria and other
requirements. At Landlord's direction, Tenant shall be responsible for the
removal of all such signs by the termination of this Lease. Such installations
and removals shall be made in such a manner as to avoid injury or defacement,
including, without limitation, discoloration caused by such installation and/or
removal.
10. INSPECTION.
Landlord and Landlord's agents and representatives shall have the right to
enter and inspect the Premises at any reasonable time during business hours, for
the purpose of ascertaining the condition of the Premises or in order to make
such repairs as may be required or permitted to be made by Landlord under the
terms of this Lease. During the period that is six (6) months prior to the end
of the term hereof, Landlord and Landlord's agents and representatives shall
have the right to enter the Premises at any reasonable time during business
hours for the purpose of showing the Premises and shall have the right to erect
on the Premises a suitable sign indicating the Premises are available. Tenant
shall give written notice to Landlord at least thirty (30) days prior to
vacating the Premises and shall arrange to meet with Landlord for a joint
inspection of the Premises prior to vacating. In the event of Tenant's failure
to give such notice or arrange such joint inspection, Landlord's inspection at
or after Tenant's vacating the Premises shall be conclusively deemed corrected
for purposes of determining Tenant's responsibility for repairs and restoration.
11. UTILITIES.
Landlord agrees to provide, at its cost, water, electricity and telephone
service connections into the Premises; but Tenant shall pay for all water, gas,
heat, light, power, telephone, sewer, sprinkler charges and other utilities and
services used on or from the Premises, together with any taxes, penalties,
surcharges or the like pertaining thereto and any maintenance charges for
utilities and shall furnish all electric light bulbs and tubes. If any such
services are not separately metered to Tenant, Tenant shall pay it's
proportionate share as determined by Landlord of all charges jointly metered
with other premises. Landlord shall in no event be liable for any interruption
or failure of utility services on the Premises.
12. ASSIGNMENT AND SUBLETTING.
Tenant shall not have the right to assign this Lease or to sublet the whole
or any part of the Premises without the prior written consent of Landlord.
Notwithstanding any permitted assignment or subletting, Tenant shall at all
times remain directly, primarily and fully responsible and liable for the
payment of the rent herein specified and for compliance with all of its other
obligations under the terms, provisions and covenants of this Lease. Upon the
occurrence of an "event of default" as hereinafter defined, if the Premises or
any part thereof are then assigned or sublet, Landlord, in addition to any other
remedies herein provided, or provided by law, may, at its option, collect
directly from such assignee or subtenant all rents becoming due to Tenant under
such assignment or sublease and apply such rent against any sums due to Landlord
from Tenant hereunder, and no such collection shall be construed to constitute a
novation or a release of Tenant from the further performance of Tenant's
obligations hereunder.
Notwithstanding the terms above, Landlord reserves the right to either: 1)
enter into a new Lease Agreement with the proposed assignee or subtenant and
terminate the Lease coincident with occupancy by the new Tenant and commencement
of the new Lease; or, 2) Landlord and Tenant may mutually agree to terminate
this Lease.
13. INSURANCE; FIRE AND CASUALTY DAMAGE.
A. Landlord agrees to maintain standard fire and extended coverage
insurance covering the building, of which the Premises are a part, in any amount
not less than ninety (90) percent (or such greater percentage as may be
necessary to comply with the provisions of any co-insurance clauses of the
policy) of the
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"replacement cost" thereof, as such term is defined in the Replacement Cost
Endorsement to be attached thereto insuring against the perils of Fire,
Lightning and Extended Coverage, such coverages and endorsements to be defined,
provided and limited in the standard bureau forms prescribed by the insurance
regulatory authority for the State of Texas for use by insurance companies
admitted in the State of Texas for the writing of such insurance on risks
located with the State of Texas. Subject to the provisions of Subparagraphs 13C,
13D, and 13E below, such insurance shall be for the sole benefit of Landlord and
under its sole control. In addition Landlord agrees to maintain general
liability coverage insurance in an amount deemed prudent and necessary by
landlord or required by mortgagee presently (or in the future) holding a
mortgage and/or deed(s) of trust constituting a lien against the building of
which the Premises are a part. If the annual premiums charged Landlord for
insurance exceed the standard premium rates because the nature of the Tenant's
operation results in extra hazardous exposure, and if Landlord permits such
operations, then Tenant, upon receipt of appropriate premium notices, shall
reimburse landlord for such increase in such premiums as additional rent
hereunder. Tenant shall maintain, at its own expense, fire and extended coverage
insurance on all of its personal property, including removable trade fixtures
located in the Premises and on all additions and improvements made by Tenant and
not required to be insured by Landlord. In addition, Tenant shall reimburse
Landlord annually, as additional rent and upon receipt of notice from Landlord,
for Tenant's proportionate share of all amounts paid by landlord for insurance
premiums which exceed an amount equal to 1991 EXPENSE/SQ. FT. of net rentable
area in the Premises/year. In the event the Premises constitute a portion of a
multiple occupancy building, Tenant shall be responsible for reimbursing
Landlord for Tenant's full proportionate share of such excess, as such share is
defined in Subparagraph 4B above. Said payments shall be made to Landlord within
ten (10) days after presentation to Tenant of Landlord's statement setting forth
the amount due. Any payment to be made pursuant to this Subparagraph A with
respect to the year in which this Lease commences or terminates shall bear the
same ratio to the payment which would be required to be made for the full year
as the part of such year covered by the term of this Lease bears to a full year.
In the event any such additional rental amount is not paid within ten (10) days
after the date of Landlord's invoice to Tenant, the unpaid amount shall bear
interest from the date due until paid at the maximum interest rate allowed by
law.
B. If the Premises should be damaged or destroyed by fire, tornado or
other casualty, Tenant shall give immediate written notice thereof to Landlord.
C. If the Premises should be totally destroyed by fire, tornado, or other
casualty, or if they should be so damaged thereby that rebuilding or repairs
cannot, in Landlord's estimation, be completed within two hundred (200) days
after the date upon which Landlord is notified by Tenant of such damage, this
Lease shall terminate and the rent shall be abated during the unexpired portion
of this Lease, effective upon the date of the occurrence of such damage.
D. If the Premises should be damaged by any peril covered by the insurance
to be provided by Landlord under Subparagraph 13A above, but only to such extent
that rebuilding or repairs can, in Landlord's estimation, be completed within
two hundred (200) days after the date upon which Landlord is notified by Tenant
of such damage, this lease shall not terminate, and Landlord shall, at its sole
cost and expense, thereupon proceed with reasonable diligence to rebuild and
repair such building to substantially the condition in which it existed prior to
such damage, except that Landlord shall not be required to rebuild, repair or
replace any part of the partitions, fixtures, additions and other improvements
which may have been placed in, on or about the Premises by Tenant. if the
Premises are untenantable in whole or in part following such damage, the rent
payable hereunder during the period in which they are untenantable shall be
reduced to such extent as may be fair and reasonable under all of the
circumstances. In the event that Landlord should fail to complete such repairs
and rebuilding within two hundred (200) days after the date upon which Landlord
is notified by Tenant of such damage, Tenant may, at its option, terminate this
lease by delivering written notice of termination to Landlord as Tenant's
exclusive remedy, whereupon all rights and obligations hereunder shall cease and
terminate.
E. Notwithstanding anything herein to the contrary, in the event the
holder of any indebtedness secured by a mortgage or deed of trust covering the
building of which the Premises are a part requires that
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the insurance proceeds be applied to such indebtedness, then Landlord shall have
the right to terminate this Lease by delivering written notice of termination of
Tenant within fifteen (15) days after such requirement is made by any such
holder, whereupon all rights and obligations hereunder shall cease and
terminate.
F. Landlord and Tenant each hereby release the other from any loss or
damage to the property caused by fire or any other perils insured through or
under them by way of subrogation, or otherwise for any loss or damage to
property caused by fire or any other perils insured in policies of insurance
covering such property, even if such loss or damage shall have been caused by
the fault of negligence of the other party or anyone for whom such party may be
responsible; provided, however, that this release shall be applicable and in
force and effect only with respect to loss or damage occurring during such times
in which the releasers policies contain a clause or endorsement stating that any
such release shall not adversely affect or impair said policies or prejudice the
right of the releasor to recover thereunder and then only to the extent of the
insurance proceeds payable under such policies. Both Landlord and Tenant agree
that they will request their insurance carriers to include such a clause or
endorsement in their policies. If extra cost shall be charged therefor, each
party shall advise the other thereof and of the amount of the extra cost, and
the other party, at its election, may pay the same, but shall not be obligated
to do so.
G. If the Premises should be damaged or destroyed by a casualty other than
a peril covered by the insurance to be provided under Subparagraph 13A above,
and the casualty or loss was the result of an action or failure to act by Tenant
or Tenant's employees, agents, guests, customers, representatives or invitees,
Tenant shall at its sole cost and expense thereupon proceed with reasonable
diligence to rebuild and repair the Premises to substantially the condition in
which they existed prior to such damage or destruction, subject to Landlord's
approval of the plans and specifications for such rebuilding and repairing.
14. LIABILITY.
Landlord shall not be liable to Tenant or Tenant's employees, agents,
patrons or visitors, or to any other person whomsoever, for any injury to person
or damage to property on or about the Premises, resulting from and/or caused in
part or whole by the negligence or misconduct of Tenant, its agents, servants,
employees, or of any other person entering upon the Premises, or caused by the
buildings and improvements located on the Premises becoming out of repair, or
caused by leakage of gas, oil, water or steam or by electricity emanating from
the Premises, or due to any cause whatsoever, and Tenant hereby covenants and
agrees that it will at all times indemnify and hold safe and harmless the
property, the Landlord (including, without limitation, the trustee and
beneficiaries if Landlord is a trust), Landlord's agents and employees from any
loss, liability, claims, suits, costs, expenses, including, without limitation,
attorney's fees and damages, both real and alleged, arising out of any such
damage or injury; except injury to persons or damage to property the sole cause
of which is negligence of Landlord or the failure of Landlord to repair any part
of the Premises which Landlord is obligated to repair and maintain hereunder
within a reasonable time after the receipt of written notice from Tenant of
needed repairs. Tenant shall procure and maintain throughout the term of this
Lease a policy or policies of insurance, at its sole cost and expense, insuring
both the Landlord and Tenant against all claims, demands or actions arising out
of or in connection with (i) the Premises; (ii) the condition of the Premises;
(iii) Tenant's operations in maintenance and use of the Premises; and (iv)
Tenant's liability assumed under this Lease, the limits of such policy or
policies to be the amount of not less than One Million and 00/100 Dollars
($1,000,000.00) for bodily injury or death of one person, Three Hundred Thousand
and 00/100 Dollars ($300,000.00) for any one occurrence, and not less than Fifty
Thousand and 00/100 Dollars ($50,000.00) for property damage or destruction,
including loss of use thereof. All such policies shall be procured by Tenant
from responsible insurance companies satisfactory to Landlord. Certified copies
of such policies, together with receipt evidencing payment of premiums therefor,
shall be delivered to Landlord prior to the Commencement Date of this Lease. Not
less than fifteen (15) days prior to the expiration date of any such policies,
certified copies of the renewals thereof (bearing notations evidencing the
payment of renewal premiums) shall be delivered to Landlord. Such policies shall
further provide that not less than thirty (30) days written notice shall be
given to Landlord before such policy may be canceled or changed to reduce
insurance provided thereby.
15. CONDEMNATION.
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A. If the whole or any substantial part of the Premises should be taken
for any public or quasi-public use under any governmental law, ordinance or
regulation, or by right of eminent domain, or by private purchase in lieu
thereof and the taking would prevent or materially interfere with the use of the
Premises for the purpose for which they are being used, this Lease shall
terminate and the rent shall be abated during the unexpired portion of this
Lease, effective when the physical taking of said premises shall occur.
B. If part of the Premises shall be taken for any public or quasi-public
use under any governmental law, ordinance or regulation, or by right of eminent
domain, or by private purchase in lieu thereof, and the taking does not prevent
or materially interfere with the use of the Premises, and this Lease is not
terminated as provided in the subparagraph above, this Lease shall not terminate
but the rent payable hereunder during the unexpired portion of this Lease shall
be reduced to such extent as may be fair and reasonable under all of the
circumstances.
C. In the event of any such taking or private purchase in lieu thereof,
Landlord shall be entitled to receive and retain all compensation awarded in any
condemnation proceedings.
16. HOLDING OVER.
Tenant will, at the termination of this Lease by lapse of time or
otherwise, yield up immediate possession to Landlord. If Landlord agrees in
writing that Tenant may hold over after the expiration or termination of this
Lease, unless the parties hereto otherwise agree in writing on the terms of such
holding over, the hold over Tenancy shall be subject to termination by Landlord
at any time upon not less than five (5) days advance written notice, or by
Tenant at any time upon not less than thirty (30) days advanced written notice,
and all of the other terms and provisions of this Lease shall be applicable
during that period, except that Tenant shall pay Landlord from time to time upon
demand, as rental for the period of any hold over, an amount equal to two (2)
times the rent, including any additional rents defined in the Lease, in effect
on the termination date, computed on a daily basis for each day of the hold over
period. No holding over by the Tenant, whether with or without consent of
Landlord, shall operate to extend this Lease except as otherwise expressly
provided. The preceding provisions of this paragraph 16 shall not be construed
as Landlord's consent for Tenant to hold over.
17. QUIET ENJOYMENT.
Landlord covenants that it now has, or will acquire before Tenant takes
possession of the Premises, good title to the Premises, free and clear of all
liens and encumbrances, excepting only the lien for current taxes not yet due,
such mortgage or mortgages as are permitted by the terms of this Lease, zoning
ordinances and other building and fire ordinances and governmental regulations
relating to the use of such property, and easements, restrictions and other
conditions of record. In the event this Lease is a sublease, then Tenant agrees
to take the Premises subject to the provisions of the prior Leases. Landlord
represents and warrants that it has full right and authority to enter into this
Lease and that Tenant, upon paying the rental herein set forth and performing
its other covenants and agreements herein set forth, shall peaceably and quietly
have, hold and enjoy the Premises for the term hereof without hindrance or
molestation from Landlord, subject to the terms and provisions of this Lease.
18. EVENTS OF DEFAULT.
The following events shall be deemed to be events of default by Tenant
under this Lease:
(a) Tenant shall fail to pay any installment of the rent herein
reserved when due, or any payment with respect to taxes hereunder when due,
or any other payment or reimbursement to Landlord required herein when due,
and such failure shall continue for a period of five (5) days from the date
such payment was due.
(b) Tenant shall become insolvent, or shall make a transfer in fraud
of creditors, or shall make an assignment for the benefit of creditors.
(c) Tenant shall file a petition under any section or chapter of the
National Bankruptcy Act, as amended, or under any similar law or statute of
the United States or any state thereof; or Tenant shall be adjudged
bankrupt or insolvent in procedings filed against Tenant thereunder.
8
(d) A receiver or trustee shall be appointed for all or substantially
all of the assets of Tenant.
(e) Tenant shall desert or vacate any substantial portion of the
Premises.
(f) Tenant shall fail to comply with any term, provision or covenant
of this Lease (other than the foregoing in this Paragraph 18), and shall
not cure such failure within ten (10) days after written notice thereof to
Tenant.
19. REMEDIES.
Upon the occurrence of any of such events of default described in Paragraph
18 hereof, Landlord shall have the option to pursue any one or more of the
following remedies without any notice or demand whatsoever.
(a) Terminate this Lease, in which event Tenant shall immediately
surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may,
without prejudice to any other remedy which it may have for possession or
arrearages in rent, enter upon and take possession of the Premises and expel or
remove Tenant and any other person who may be occupying such Premises or any
part thereof, by force if necessary, without being liable for prosecution or any
claim of damages therefor; and Tenant agrees to pay Landlord, on demand, the
amount of all loss and damage which Landlord may suffer by reason of such
termination, whether through inability to relet the Premises on satisfactory
terms or otherwise. TENANT HEREBY WAIVES ITS RIGHT TO THREE DAYS NOTICE OF
LANDLORD'S INTENT TO FILE A FORCIBLE DETAINER OR FORCIBLE ENTRY AND DETAINER
ACTION AS PROVIDED IN V.T.C.A., PROPERTY CODE, SECTION 24.005.
(b) Enter upon and take possession of the Premises and expel or remove
Tenant and any other person who may be occupying such Premises or any part
thereof, by force if necessary, without being liable for prosecution or any
claim for damages therefor, and relet the Premises and receive the rent
therefor, and Tenant agrees to pay the Landlord, or demand, any deficiency that
may arise by reason of such reletting. In the event Landlord is successful in
reletting the Premises at a rental in excess of that agreed to the paid by
Tenant pursuant to the terms of this Lease, Landlord and Tenant each mutually
agree that Tenant shall not be entitled, under any circumstances, to such excess
rental, and Tenant does hereby specifically waive any claim to such excess
rental.
(c) Terminate this Lease and treat the event of default as an entire
breach of the Lease and Tenant immediately shall become liable to Landlord for
damages for the entire breach in the amount equal to the amount by which the
total rent now due and payable as adjusted by the amount of additional rent
which would be payable by Tenant during the unexpired balance of the term of
this Lease and all other p;ayments due for the balance of the term is in excess
of the fair market rent value of the Premises for the balance of the term as of
the time of default, both discounted at the rate of six (6) percent per annum to
the then present value. Such amount shall be due and payable upon Lessor's
notice to Lessee of termination of the Lease and shall bear interest until paid
at the maximum annual rate permitted by law.
(d) Enter upon the Premises, by force if necessary, without being liable
for prosecution or any claim for damages therefor, and do whatever Tenant is
obligated to do under the terms of this Lease; and Tenant agrees to reimburse
Landlord, on demand, for any expenses which Landlord may incur in thus effecting
compliance with Tenant's obligations under this Lease, and Tenant further agrees
that Landlord shall not be liable for any damages resulting to the Tenant from
such action, whether caused by the negligence of Landlord or otherwise.
(e) Alter locks and other security devices at the Premises, without being
liable for prosecution or any claim of damages therefor, and such alteration of
locks and security devices shall not be deemed or unauthorized or constitute a
conversion.
(f) Receive payment from Tenant, in addition to any sum provided to be
paid above, for any and all of the following expenses for which Tenant shall be
considered liable:
1. Broker's fees incurred by Landlord in connection with reletting the
whole or any part of the Premises;
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2. The cost of removing and storing Tenant's or other occupant's property;
3. The cost of repairing, altering, remodeling or otherwise putting
Premises into condition acceptable to a new Tenant or Tenants, plus a
reasonable charge to cover overhead; and
4. All reasonable expenses incurred by Landlord in enforcing Landlord's
remedies.
In the event Tenant fails to pay any installment of rent hereunder as and
when such installment is due, to help defray the additional cost to Landlord for
processing such late payments Tenant shall pay to Landlord on demand a late
charge in the amount equal to five (5) percent of such installment; and the
failure to pay such amount within ten (10) days after demand therefor shall be
an event of default hereunder. The provision for such late charge shall be in
addition to all of Landlord's other rights and remedies hereunder or at law and
shall not be construed as liquidated damages or as limiting Landlord's remedies
in any manner.
Pursuit of any of the foregoing remedies shall not preclude pursuit of any
of the other remedies herein provided or another remedies provided by law, nor
shall pursuit of any remedy herein provided constitute a forfeiture or waiver of
any rent due to Landlord hereunder or of any damages accruing to Landlord by
reason of the violation of any of the terms, provisions and covenants herein
contained. No act or thing done by the Landlord or its agents during the term
hereby granted shall be deemed a termination of this Lease or any acceptance of
the surrender of the Premises, and no agreement to terminate this Lease or
accept a surrender of said Premises shall be valid unless it is in writing and
signed by Landlord. No waiver by Landlord of any violation or breach of any of
the terms, provisions and covenants herein contained shall be deemed or
construed to constitute a waiver of any other violation or breach of any of the
other terms, provisions and covenants herein contained. Landlord's acceptance of
the payment of rental or other payments hereunder after the occurrence of an
event of default shall not be construed as a waiver of such default, unless
Landlord so notifies Tenant in writing. Forbearance by Landlord to enforce one
or more of the remedies herein provided upon an event of default shall not be
deemed or construed to constitute a waiver of such default or of Landlord's
right to enforce any such remedies with respect to such default of any
subsequent default. If, on account of any breach or default by Tenant in
Tenant's obligations under the terms and conditions of this Lease, it shall
become necessary or appropriate of Landlord to employ or consult with an
attorney concerning any of Landlord's rights or remedies hereunder or to enforce
or defend any of the Landlord's rights or remedies hereunder, Tenant agrees to
pay any reasonable attorney's fees so incurred.
20. LANDLORD'S LIEN.
IN ADDITION TO ANY STATUTORY LIEN FOR RENT IN LANDLORD'S FAVOR, LANDLORD
SHALL HAVE, AND TENANT HEREBY GRANTS TO LANDLORD, A CONTINUING SECURITY INTEREST
FOR ALL RENTALS AND OTHER SUMS OF MONEY BECOMING DUE HEREUNDER FROM TENANT, UPON
ALL GOODS, WARES, EQUIPMENT, FIXTURES, FURNITURE, INVENTORY, ACCOUNTS, CONTRACT
RIGHTS, CHATTEL PAPER ANOTHER PERSONAL PROPERTY OF TENANT SITUATED ON THE
PREMISES, AND SUCH PROPERTY SHALL NOT BE REMOVED THEREFROM WITHOUT THE CONSENT
OF LANDLORD UNTIL ALL ARREARAGES IN RENT AS WELL AS ANY AND ALL OTHER SUMS OF
MONEY THEN DUE TO LANDLORD HEREUNDER SHALL FIRST HAVE BEEN PAID AND DISCHARGED.
IN THE EVENT OF A DEFAULT UNDER THIS LEASE, LANDLORD SHALL HAVE, IN ADDITION TO
ANY OTHER REMEDIES PROVIDED HEREIN OR BY LAW, ALL RIGHTS AND REMEDIES UNDER THE
UNIFORM COMMERCIAL CODE, INCLUDING, WITHOUT LIMITATION, THE RIGHT TO SELL THE
PROPERTY DESCRIBED IN THIS PARAGRAPH 20 AT PUBLIC OR PRIVATE SALE UPON FIVE (5)
DAYS NOTICE TO TENANT. TENANT HEREBY AGREES TO EXECUTE SUCH FINANCING STATEMENTS
AND OTHER INSTRUMENTS NECESSARY OR DESIRABLE IN LANDLORD'S DISCRETION TO PERFECT
THE SECURITY INTEREST HEREBY CREATED. ANY STATUTORY LIEN FOR RENT IS NOT HEREBY
WAIVED, THE EXPRESS CONTRACTUAL LIEN HEREIN GRANTED BEING IN ADDITION AND
SUPPLEMENTARY THERETO.
10
21. MORTGAGES.
Tenant accepts this lease subject and subordinate to any mortgage(s) and/or
deed(s) of trust now or at any time hereafter constituting a lien or charge upon
the Premises or the improvements situated thereon; provided, however, that if
the mortgagee, trustee or holder of any such mortgage or deed of trust elects to
have Tenant's interest in this lease superior to any such instrument, then by
notice to Tenant from such mortgagee, trustee, or holder, this Lease shall be
deemed superior to such lien, whether this Lease was executed before or after
said mortgage or deed of trust. Tenant shall at any time hereafter on demand
execute any instruments, releases or other documents which may be required by
any mortgagee for the purpose of subjecting and subordinating this Lease to the
lien of any such mortgage.
22. LANDLORD'S DEFAULT.
A. In the event Landlord should default in any of its obligations
hereunder, Tenant shall simultaneously give Landlord and Landlord's mortgagee
written notice specifying such default and Landlord shall thereupon have thirty
(30) days (plus an additional reasonable period as may be required in the
exercise by Landlord of due diligence) in which to cure any such default. In
addition, Landlord's mortgagee shall have the right (but not the obligation) to
cure or remedy such default during the period that is permitted to Landlord
hereunder, and Tenant will accept such curative or remedial action taken by
Landlord's mortgagee with the same effect as if such action had been taken by
the Landlord.
B. Upon the failure of Landlord or Landlord's mortgagee to cure such
default in accordance with the provisions of Paragraph 22A hereof, Tenant shall
be authorized and empowered to pay any such items for and on behalf of Landlord,
and the amount of any item so paid by Tenant for and on behalf of Landlord,
together with any interest or penalty required to be paid in connection
therewith, shall be payable on demand by Landlord to Tenant; provided, however,
that Tenant shall not be authorized and empowered to make any payment under the
terms of this Paragraph 22 unless the item paid shall be superior to Tenant's
interest hereunder. Tenant's exclusive remedy shall by an action for damages
against Landlord, and Tenant hereby waives the benefit of any laws granting it a
lien upon the property of Landlord and/or upon rent due Landlord. In the event
Tenant pays any mortgage debt in full, in accordance with this paragraph, it
shall, at its election, be entitled to the mortgage security by assignment or
subrogation.
23. MECHANIC'S LIENS.
Tenant shall have no authority, express or implied, to create or place any
lien or encumbrance of any kind or nature whatsoever upon, or in any manner to
bind, the interest of Landlord in the Premises or to charge the rentals payable
hereunder for any claim in favor of any person dealing with Tenant, including
those who may furnish materials or perform labor for any construction or
repairs, and each such claim shall affect and each such lien shall attach to, if
at all, only the leasehold interest granted to Tenant by this instrument. Tenant
covenants and agrees that it will pay or cause to be paid all sums legally due
and payable by it on account of any labor performed or materials furnished in
connection with any work performed on the Premises on which any lien is or can
be validly and legally asserted against its leasehold interest in the premises
or the improvements thereon, and that it will save and hold Landlord harmless
from any and all loss, cost or expense based on or arising out of asserted
claims or liens against the leasehold estate or against the right, title and
interest of the Landlord in the Premises or under the terms of this Lease.
24. ASSIGNMENT BY LANDLORD.
Landlord shall have the right to assign or transfer, in whole or in part,
every feature of its rights and obligations hereunder and in the building or
real property of which the Premises is a part. Such assignments or transfers may
be made to a corporation, trust, trust company, individual or group of
individuals, and howsoever made shall be in all things respected and recognized
by Tenant.
25. DISCLAIMER.
This Lease and the obligation of Tenant to pay rent hereunder and perform
all of the other covenants and agreements hereunder on the part of the Tenant to
be performed shall not be affected, impaired or executed because Landlord is
unable to fulfill any of its covenants and obligations under this Lease,
11
expressly or impliedly to be performed by Landlord, if Landlord is prevented or
delayed from doing so by reason of strikes, labor troubles, accident, power
outages, adjustment of insurance, or by any reason or cause whatsoever
reasonable beyond Landlord's control. Reasons beyond Landlord's control shall
include, but not be limited to, laws, governmental preemption in connection with
a National Emergency or by any reason of any rule, order or regulation of any
governmental agency, federal, state, county or municipal authority or any
department or subdivision thereof, or by reason of the conditions of supply and
demand which have been or are affected by war or other emergency.
26. NOTICES.
Each provision of this instrument or of any applicable governmental laws,
ordinances, regulations and other requirements with reference to the sending,
mailing or delivery of any notice or the making of any payment by Landlord to
Tenant or with reference to the sending, mailing or delivery of any notice or
the making of any payment by Tenant to Landlord shall be deemed to be complied
with when and if the following steps are taken:
(a) All rent and other payments required to be made by Tenant to
Landlord hereunder shall be payable to Landlord at the address hereinbelow
set forth or at such other address as Landlord may specify from time to
time by written notice delivered in accordance herewith. Tenant's
obligation to pay rent and any other amounts to Landlord under the terms of
this Lease shall not be deemed satisfied until such rent and other amounts
have been actually received by Landlord.
(b) All payments required to be made by Landlord to Tenant hereunder
shall be payable to Tenant at the address hereinbelow set forth, or at such
other address within the continental United States as Tenant may specify
from time to time by written notice delivered in accordance herewith. All
such payments shall be sent by Certified U.S. Mail, return receipt
requested.
(c) Any notice or document required or permitted to be delivered
hereunder shall be deemed to be delivered, whether actually received or
not, when deposited in the United States Mail, postage prepaid, Certified
or Registered Mail, addressed to the parties hereto at the respective
addresses set out below, or at such other address as they have theretofore
specified by written notice delivered in accordance herewith.
Landlord: Tenant:
AMERICAN GENERAL INVESTMENT CORP. INDUSTRIAL DATA SYSTEMS
c/o MAXICORP, INC. 00000 Xxxxxxx Xxxxx #A170
0000 Xxxxxxx, Xxxxx 000 Xxxxxxx, Xxxxx 7702?
Xxxxxxx, Xxxxx 00000
If and when included within the term "Landlord", as used in this instrument,
there is more than one person, firm or corporation, all shall jointly arrange
among themselves for their joint execution of such a notice specifying some
individual at some specific address for the receipt of notices and payments to
Landlord; if and when included within the term "Tenant", as used in this
instrument, there is more than one person, firm or corporation, all such jointly
arrange among themselves for their joint execution of such a notice specifying
some individual at some specific address within the continental United States
for the receipt of notices and payments to Tenant. All parties included within
the terms "Landlord" and "Tenant", respectively, shall be bound by notices
given in accordance with the provisions to this Paragraph to the same effect as
if each had received such notice.
27. MISCELLANEOUS.
A. Words of any gender used in this lease shall be held and construed to
include any other gender, and words in the singular number shall be held to
include the plural, unless the context otherwise requires.
B. The terms, provisions and covenants and conditions contained in this
Lease shall apply to, inure to the benefit of, and be binding upon, the parties
hereto and upon their respective heirs, legal representatives, successors and
permitted assigns, except as otherwise herein expressly provided.
12
C. Whenever a clause or provision of this Lease requires Landlord's
consent or approval, Landlord agrees not to withhold or delay its consent or
approval unreasonably.
D. The captions inserted in this Lease are for the convenience only and in
no way define, limit or otherwise describe the scope or intent of this Lease, or
any provision hereof, or in any way affect the interpretation of this Lease.
E. Tenant agrees, if requested in writing by Landlord, to furnish
financial statements, bank references, credit references, or any other financial
data to Landlord as may be required to establish Tenant's financial stability
and credit worthiness. Such information will be furnished within ten (10) days
of request.
F. This Lease may not be altered, changed or amended except by an
instrument in writing signed by both parties hereto.
G. All obligations of Tenant hereunder not fully performed as of the
expiration or earlier termination of the term of this Lease shall survive the
expiration or earlier termination of the term hereof, including, without
limitation, all payment obligations with respect to taxes and insurance and all
obligations concerning the condition of the Premises. Upon the expiration of
earlier termination of the term hereof, and prior to Tenant vacating the
Premises, Tenant shall pay to Landlord any amount reasonably estimated by
Landlord as necessary to put the Premises, including, without limitation, all
heating and air conditioning systems and equipment therein, in good condition
and repair. Tenant shall also, prior to vacating the Premises, pay to Landlord
the amount, as estimated by Landlord, of Tenant's obligation hereunder for real
estate taxes and insurance premiums for the year in which the Lease expires or
terminates. All such amounts shall be used and held by Landlord for payment of
such obligations of Tenant hereunder, with Tenant being liable for any
additional costs therefor upon demand by Landlord, or with any excess to be
returned to Tenant after all such obligations have been determined and
satisfied, as the case may be. Any security deposit held by Landlord shall be
credited against the amount payable by Tenant under this Paragraph 27G.
H. If any clause or provision of this Lease is illegal, invalid or
unenforceable under present or future laws effective during the term of this
Lease, then and in that event, it is the intention of the parties hereto that
the remainder of this lease shall not be affected thereby, and it is also the
intention of the parties to this Lease that, in lieu of each clause or provision
of this Lease that is illegal, invalid or unenforceable, there be added as a
part of this Lease contract a clause or provision as similar in terms to such
illegal, invalid or unenforceable clause or provision as may be possible and be
legal, valid and enforceable.
I. Because the Premises are on the open market and are presently being
shown, this Lease shall be treated as an offer with the Premises being subject
to prior Lease and such offer subject to withdraw or non-acceptance by Landlord
or to other use of the Premises without notice, and this Lease shall not be
valid or binding unless and until accepted by Landlord in writing and a fully
executed copy delivered to both parties hereto.
J. All references in this Lease to "the date hereof" or similar
references shall be deemed to refer to the last date, in point of time, on which
all parties hereto have executed this Lease.
K. Tenant agrees, from time to time within ten (10) days after request of
Landlord, to deliver an estoppel certificate to Landlord or Landlord's designee.
Such estoppel certificate shall state that this Lease is in full force and
effect, the date to which rent has been paid, the unexpired term of this Lease
and such other matters pertaining to this Lease as may be requested by Landlord.
L. Landlord and Tenant acknowledge and agree that this Lease shall be
interpreted and enforced in accordance with the laws of the State of Texas and
all obligations and duties are performable exclusively in Houston, Xxxxxx
County, Texas.
M. Each party agrees to furnish to the other, promptly upon demand, a
corporate resolution, proof of due authorization by partners, or other
appropriate documentation evidencing the due authorization of such party to
enter into this Lease.
N. This Lease may be signed in any number of counterparts, each of which
shall be an original for all purposes, but all of which taken together shall
constitute only one agreement. The production of any
13
executed counterpart of this Lease shall be sufficient for all purposes without
producing or accounting for the other counterparts hereof.
O. Any reference to a building on the demised Premises, means the plural
"buildings" in a multiple building complex. All expenses, for example, but not
limited to taxes, property insurance, and common area maintenance, are prorated
for the total net rentable area in all buildings.
Executed by the parties this 16th day of January, 1991.
AMERICAN GENERAL LIFE INSURANCE CO. INDUSTRIAL DATA SYSTEMS
(Name of Landlord) (Name of Tenant)
/s/ XXXXXX XXXXXXX /s/ XXXXXXX XXXXXX
BY: Mr. Xxxxxx Xxxxxxx BY: Xx. Xxxxxxx Xxxxxx
TITLE: R.E. Investment Officer TITLE: President
Landlord Tenant
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EXHIBIT "A-1"
[FLOORPLAN GRAPHIC OMITTED]
BUILDING A
00000 XXXXXXX XXXXX
XXXXX X000
5625 GRA
EXHIBIT "A"
MAXICORP, INC.
000-000-0000
[CENTURY CENTER GRAPHIC OMITTED]
SITE PLAN
LAND AREA 9,068 ACRES
132310 X.X.
XXXXX XXXXXXXXX XXXX
XXXX. X 00000 S.F. BLDG. B 39880 S.F.
(00000 Xxxxxxxxx Xxxxx) (00000 Xxxxxxxxx Xxxxx)
XXXX. X 00000 S.F. BLDG. D 27450 S.F.
(000 Xxxxxxx Xxxxx Xxxxx) (800 Century Plaza Drive)
PARKING 398 CARS (33/1000 S.F.)
CENTURY CENTER
MAP
ADDENDUM TO LEASE
OPTION TO RENEW:
Landlord hereby grants Tenant the option to renew and extend this Lease for
an additional three (3) year term at the then prevailing market rental rates.
Said option is granted only if Tenant is in full compliance of the terms and
conditions of this Lease. Additionally, within ninety (90) days of the
expiration of the initial term of this Lease, Tenant is required to notify
Landlord in writing of tenants intent to exercise said renewal option.
AMERICAN GENERAL LIFE INS. CO. INDUSTRIAL DATA SYSTEMS
Landlord Tenant
/s/ XXXXXX XXXXXXX /s/ XXXXXXX XXXXXX
By: Mr. Xxxxxx Xxxxxxx By: Xx. Xxxxxxx Xxxxxx
Title: R.E. Invest. Officer Title: President
