LETTER OF AGREEMENT
Exhibit
10.2(a)
LETTER
OF AGREEMENT
This
agreement made this 26th day of June, 1995, by and between
the Ridgewood Office Building, L. P., LTD., a Delaware Limited Partnership,
("Landlord"), and XXX & XXXXX, INC., a FLORIDA CORPORATION,
("Tenant").
WHEREAS,
Landlord and Tenant entered into a Lease dated as of August 1, 1987, which
sets
forth the terms of occupancy by Tenant for a portion of the Xxx & Xxxxx
Building ("Building") containing 38,738 square feet of Rentable Area. The
commencement date of the Lease is August 15, 1987; and
WHEREAS,
Tenant desires to lease additional space in the Building;
NOW,
THEREFORE, in consideration of the mutual promises contained herein, Landlord
and Tenant agree that:
1. Landlord
shall lease to Tenant an additional portion of the Building containing
1,114
square feet of rentable space in Suite 320, as indicated in Exhibit "A".
The
effective date of the Tenant's occupancy and possession of the additional
space
will be July 1, 1995, and shall continue on a month-to-month basis or until
the
expiration date of the Lease, September 30, 2002.
2. The
rental charge to the Tenant for the additional space described herein is
$3.50
per square foot per year, or $3,899.00, plus 6% sales tax. In addition
to the
rental charge, Tenant agrees to pay Landlord as rent, Tenant's proportional
share of the Building's operating costs as provided in Section 5.3 of the
Lease.
All costs to improve or remodel the additional space will be paid by the
Tenant.
3. Tenant's
occupancy and use of the additional space described herein shall be governed
by
the Lease dated August 1, 1987, and the rental charge will be adjusted
subject
to the same Adjustment Dates and the Base Index as stipulated in the
Lease.
IN
WITNESS WHEREOF, the Parties hereto have duly executed this Agreement as
of the
day and year first written above.
Signed, sealed and delivered in the presence of: | XXX & XXXXX, INC. | ||||
/s/ Xxxx Xxxx | |||||
By:_____________________________________ |
By:
|
/s/ Xxx X. Xxxxxxxxx | |||
Title: | Exec. Vice President | ||||
_____________________________________________ | |||||
Title:____________________________________ |
Tenant
|
||||
Ridgewood Office Building, Ltd., | |||||
a Delaware Limited Partnership | |||||
/s/ Xxxxx Xxxxxxxxxx | |||||
By:_____________________________________ |
By:
|
Ridgewood, Inc., a Delaware Corporation, | |||
its
Corporate General Partner
|
|||||
/s/ Xxxxxx Korruso | /s/ | ||||
Title:____________________________________ | Xxxxxxx X. Xxxxx, President | ||||
/s/ | |||||
Xxxx X. Xxxxxxxx, Secretary | |||||
Landlord |
STATE
OF
FLORIDA
COUNTY
OF
VOLUSIA
FIRST
AMENDMENT TO LEASE
This
First Amendment to Lease is made and entered into by and between Ridgewood
Office Building, L.P., Ltd., a Delaware limited partnership as landlord
(“Landlord”) and Xxxxx & Xxxxx, Inc., (also known as Xxx & Xxxxx, Inc.)
a Florida corporation, as tenant (“Tenant”).
W
I T N E
S S E T H:
WHEREAS,
Tenant, entered into that certain Ridgewood Office Building Lease with Xxxxxxx
S. Root, Trustee, Xxxxxxx X. Xxxx Revocable Trust U/T/A 2/15/87, (said Lease
having been assigned to the Xxxxxxx S. Root 1982 Living Trust and subsequently
assigned to Ridgewood Office Building, L.P., Ltd.) for the Premises dated August
1, 1987 which sets forth the terms of occupancy by Tenant for a portion of
the
Building containing 38,738 square feet of Rentable Area (herein after referred
to as “Lease”) and that certain Letter of Agreement dated June 26, 1995 wherein
the Tenant leased an additional 1,114 square feet of Rentable Area.
WHEREAS,
the Landlord and Tenant desire to modify and amend the Lease and the Letter
of
Agreement, as set forth in this First Amendment to Lease and Addendums One,
Two,
Three, and Four.
NOW,
THEREFORE, for and in consideration of the Premises, the sum of Ten and 00/100
Dollars ($10.00) in hand paid by Tenant to Landlord, the mutual agreements
herein contained and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree to modify
and amend the Lease as follows:
I.
A. As to Section 2. DEFINITIONS.,
the
following subsections thereof are amended to read as follows:
2.a. | Base Rent: $533,790.75 per year | ||
2.d. | Commencement Date: October 1, 1999 | ||
2.g. | Expiration Date: September 30, 2009, unless otherwise sooner terminated in accordance with the provisions of this Lease. | ||
2.i. | Landlord’s Mailing Address: | X.X. Xxx 0000, Xxxxxxx Xxxxx, XX 00000-0000 | |
Tenant’s Mailing Address: | X.X. Xxx 0000, Xxxxxxx Xxxxx, XX 00000-0000 | ||
2.j. | Monthly installments of Base Rent: $44,482.58 per month commencing on October 1, 1999. | ||
2.k.
|
Parking:
Tenant to have 56 reserved parking spaces - fifteen (15) on the
south side
of the building and forty-one (41) on the west side of the
building.
|
||
2.1.
|
Premises:
that portion of the Building containing approximately 45,429 square
feet
of Rentable Area, as indicated on Exhibit “A”.
|
||
2.m.
|
Project:
the building of which the Premises are a part (the “Building”) and any
other buildings or improvements on the real property (the “Property”)
located at 000 Xxxxx Xxxxxxxxx Xxxxxx, Xxxxxxx Xxxxx, Xxxxxxx.
The Project
is known as XXXXX & XXXXX BUILDING.
|
||
2.o. | Security Deposit (Article 7): No deposit required. | ||
2.q. | Tenant’s First Adjustment Date (Section 5.2): October 1, 2002. | ||
2.r. | Tenant’s Proportionate Share: 72.74%. Such share is a fraction, the numerator of which is the Rentable Area of the Premises, and the denominator of which is the Rentable Area of the Project, as determined by Landlord from time to time. The Project consists of one building containing a total Rentable Area of 62,453 square feet. | ||
1
In
addition, the following Definition is added:
2.u. | Anniversary Date: The first day of October of each year. All other provisions of Section 2 remain as originally stated. | ||
B.
As to Section 3. EXHIBITS AND ADDENDA.,
said
section is amended to read as follows:
The
exhibits and addenda listed below and attached hereto are incorporated by
reference in this First Amendment to Lease:
a.
Exhibit “A” - Floor Plans showing the Premises.
b.
Exhibit “B” - N/A
c.
Exhibit “C” - N/A
d.
Exhibit “D” - Rules and Regulations
e.
Exhibit “E” - N/A
f.
Addenda:
One
- Additional
Provisions
Two
- Right
of
First Refusal to Lease Additional Space
Three
- Option
to
Decrease Rentable Area in the Premises
Four
- Rent
Credits
C.
As to Section 5. RENT., said
section is amended to read as follows:
5.2(a). Adjusted
Base Rent.
The
amount of Base Rent (and the corresponding Monthly installments of
Base
Rent) payable hereunder shall be adjusted commencing on Tenant's
First
Adjustment Date of October 1, 2002 and each three-year period (10/1/05
and
10/1/08) after the Tenant’s first Adjustment Date. Adjustments, if any,
shall be based upon increases (if any) in the Index. The Index in
publication July 1, 1999 shall be the "Base Index." On each Adjustment
Date, the Base Rent shall be increased by a percentage equal to the
percentage increase, if any, in the Index in publication three (3)
months
before the Adjustment Date (the "Comparison Index") over the Base
Index
("adjusted Base Rent"). In the event the Comparison Index is less
than the
prior Comparison Index (or Base Index, as the case may be), the Base
Rent
shall remain the amount of Base Rent payable during that preceding
period.
When the adjusted Base Rent payable as of each Adjustment Date is
determined, Landlord shall give Tenant written notice of such adjusted
Base Rent and the manner in which it was computed. The adjusted Base
Rent
shall thereafter be the "Base Rent" for all purposes under this
Lease.
|
In
addition, the following is added:
5.2(c). Notwithstanding
anything contained in this Lease to the contrary, the increase in Base Rent
on
any Adjustment Date shall not exceed nine (9%) percent.
D.
As to Section 9. SERVICES AND UTILITIES., the
following is added:
Landlord
has advised Tenant that presently Florida Power & Light (“Electric Service
Provider”) is the utility company selected by Landlord to provide electricity
service for the Center. Notwithstanding the foregoing, if permitted by
Law,
Landlord shall have the right at any time and from time to time during the
Lease
Term to either contract for service from a different company or companies
providing electricity service (each such company shall hereinafter be
referred
to as an “Alternate Service Provider”) or continue to contract for service from
the Electric Service Provider.
2
Landlord
shall in no way be liable or responsible for any loss, damage, or
expense
that Tenant may sustain or incur by reason of any change, failure,
interference, disruption, or defect in the supply or character of
the
electric energy furnished to the Premises, or if the quantity or
character
of the electric energy supplied by the Electric Service Provider
or any
Alternate Service Provider is no longer available or suitable for
Tenant’s
requirements, and no such change, failure, defect, unavailability,
or
unsuitability shall constitute an actual or constructive eviction,
in
whole or in part, or entitle Tenant to any abatement or diminution
of
rent, or relieve Tenant from any of its obligations under the
Lease.
|
E.
As to Section 19. DESTRUCTION OR DAMAGE.,
the
following subsections are added:
f. |
Should
the damage occur during the last two (2) years of the original
term or any
extended term and Tenant has an extension or renewal option, Tenant
shall
be obligated to exercise the renewal or extension option as a
pre-condition to restoration of the
Premises.
|
g. |
Tenant shall not occupy or
use the
Premises or any part thereof, nor permit or suffer the same to
be occupied
or used for any purposes other than as herein limited, nor for
any purpose
deemed unlawful, disreputable, or extra hazardous, on account of
fire or
other casualty. The Premises is a smoke free building. Tenant,
its
employees, contractors, agents, guests and invitees shall not smoke
in any
area of the Premises. Tenant is responsible to insure that no smoking
takes place in the building. Landlord shall designate areas outside
of the
Premises for Tenant, its employees, agents, contractors, guests
and
invitees to smoke. Tenant acknowledges and agrees that the cost
of repairs
and replacement for smoke damage within the Premises is expensive
and
difficult. In addition to any other remedy or right under this
Lease for a
default, Landlord shall have the right to recover 100% of its costs
for
any repairs or replacement required because of smoke damage caused
by
Tenant in violation of this provision as smoke damage under this
Lease is
not considered to be ordinary wear and
tear.
|
II. All
other
terms, covenants and conditions of the Lease are and shall remain in full force
and effect.
III. Landlord
and Tenant hereby acknowledge that the Lease and this Amendment represent the
entire agreement, that no other written or oral agreements exist and that all
other provisions of the Lease not modified herein shall remain in full force
and
effect.
Agreed
and accepted this 2nd day
of August,
1999.
LANDLORD: | TENANT: |
RIDGEWOOD OFFICE BUILDING, L.P., LTD., | XXXXX & XXXXX, Inc. |
a Delaware limited partnership | a Florida corporation |
By: /s/ | By: /s/ Xxx. X. Xxxxxxxxx |
Xxxx Xxxxxxx, Vice President | Executive Vice President |
Attest: | |
/s/ Xxxxx Xxxxxx | /s/ Xxxx X. Xxxx |
WITNESS
|
WITNESS
|
3
ADDENDUM
NUMBER ONE TO LEASE
ADDITIONAL
PROVISIONS
These
provisions are attached to and made a part of that certain First Amendment
to
Lease dated as of ,
1999,
executed by and between Ridgewood Office Building, L.P., Ltd., (“Landlord”), and
Xxxxx & Xxxxx, Inc. (“Tenant”). Any capitalized term not defined herein
shall have the meaning assigned to it in the Lease.
Year
2000 Disclaimer.
Landlord
hereby disclaims any liability for any and all damages, injuries or other
losses, whether ordinary, special, consequential, punitive or otherwise, arising
out of , relating to or in connection with (a) the failure of any automated,
computerized and/or software system or other technology used in, on or about
the
Property or relating to the management or operation of the Property to
accurately receive, provide or process date/time data (including, but not
limited to, calculating, comparing and sequencing) both before and after
September 9, 1999 and before, after, during and between the years 1999 A.D.
and
2000 A.D., and leap year calculations and or (b) the malfunction, creasing
to
function or providing of invalid or incorrect results by any such technology
as
a result of date/time data. The foregoing disclaimer shall apply to any such
technology used in, on, or about the Property or that affects the Property,
whether or not such technology is within the control of Owner or any of Owner’s
agents or representatives. THE FOREGOING DISCLAIMER INCLUDES A DISCLAIMER OF
ALL
WARRANTIES OR REPRESENTATIONS, EXPRESS OR IMPLIED, WITH RESPECT TO THE MATTERS
DESCRIBED HEREIN, INCLUDING ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS
FOR A PARTICULAR PURPOSE.
Hazardous
Wastes. Tenant
shall not cause or permit the use, generation, storage or disposal in or about
the demised premises of any substance, materials or wastes subject to regulation
under any federal, state or local law from time to time in effect concerning
hazardous, toxic or radioactive materials (hereinafter "Hazardous Materials")
unless Tenant shall have received Landlord's prior written consent, which
consent Landlord may withhold or at any time revoke at its sole discretion.
If
Tenant uses, generates, stores or disposes of any Hazardous Materials in or
about the demised premises, Tenant shall obtain all necessary permits and comply
with all statutes, regulations and rules applicable to such activity. Upon
termination of this Lease, Tenant shall remove all Hazardous Materials, along
with all storage and disposal facilities, from the demised premises, such
removal to be in accordance with procedures approved by the proper governmental
authority. Tenant shall indemnify and hold Landlord harmless from and against
all liability, cost, claim, penalty, expense and fees (including court costs
and
attorneys' fees) arising from Tenant's use, generation, storage, or disposal
of
Hazardous Materials in or about the demised premises. This section shall survive
the expiration or earlier termination of this Lease.
Compliance
with Public Accommodation Laws. Tenant
assumes all responsibility for compliance of the Premises with any and all
applicable laws, regulations and building codes governing non-discrimination
and
public accommodations and commercial facilities ("Public Accommodation Laws"),
including without limitation, the requirements of the American Disabilities
Act,
42 U.S.C. 12-101 and all regulations and promulgations thereunder. Tenant shall
complete any and all alterations, modifications or improvements to the Premises
necessary in order to comply with all Public Accommodation Laws during the
term
of this Lease whether such improvements or modifications are the legal
responsibility of Landlord, Tenant, or a third party. Tenant agrees to
indemnify, defend and hold harmless Landlord from and against any and all
claims, liabilities, fines, penalties, losses and expenses (including attorney's
fees) arising in connection with Tenant's failure to comply with the provisions
of this Section.
The
Landlord shall be responsible for all aspects of the building and adjoining
property to comply with the provisions of the American's With Disabilities
Act,
as same may be amended from time to time, with the exception of the interior
space (including Tenant's private exterior entrance) for which Tenant assumes
the responsibility for such compliance. Each party agrees to indemnify and
hold
the other harmless from and against any loss, costs, damages, expenses or
liabilities, including reasonable attorney's fees, arising out of or in
connection with the failure of such party to fulfill such
obligation.
4
ADDENDUM
NUMBER TWO TO LEASE
RIGHT
OF FIRST REFUSAL TO LEASE ADDITIONAL SPACE
Beginning
from the commencement date of this Lease, such date being October 1, 1999,
and
provided Tenant is not in default under the terms of this Lease, Landlord grants
to Tenant a Right of First Refusal to lease additional space that comes
available in the Building on the same terms and conditions of this Lease, as
Amended under the First Amendment to Lease. In the event Landlord receives
a
bona fide offer to rent space in the Building to any parties other than the
Tenant, the Landlord shall give Tenant written notice of same. Tenant shall
have
fifteen (15) business days following receipt of such notice to notify Landlord
as to whether Tenant desires to lease said space. The leasing of said additional
space shall be under the same terms and conditions as the Lease and, if Tenant
does exercise a Right of First Refusal to lease additional space hereunder,
the
parties shall amend this Lease to incorporate the additional space and
proportionately increase Tenant's Base Rent.
This
Right of First Refusal excludes any Renewal Options in an existing executed
Lease with any other Tenant(s) in the Building.
This
Right of First Refusal shall not, however, obligate Landlord to reserve or
hold
any space for Tenant. Landlord reserves the right to establish the minimum
quantity and location of any additional space that may be added at any one
time
pursuant to this provision.
In
the
event Tenant shall fail to give notice of its intent to lease said additional
space within fifteen (15) days, such Right of First Refusal shall thereafter
be
and become null and void and of no further force and effect.
------------------------------------
5
ADDENDUM
NUMBER THREE TO LEASE
OPTION
TO DECREASE RENTABLE AREA IN THE PREMISES
Beginning
with Year 4 of this Lease, such date being October 1, 2002, and annually each
year thereafter on the Anniversary Date, and provided Tenant is not in default
under any terms of this Lease, Tenant shall have the option to decrease the
Rentable Area of the Premises by an amount not to exceed 11,369 square feet.
It
is understood and agreed that all annual decreases in the Rentable Area of
the
Premises shall be cumulative and shall not exceed 11,369 square feet in the
aggregate and that at no time shall the Premises Landlord leases to Tenant
and
Tenant leases from Landlord contain less than 34,060 square feet of Rentable
Area during the period beginning on October 1, 2002, and ending on the
Expiration Date, September 30, 2009.
Tenant’s
monthly installment of Base Rent and Proportionate Share of Project Operating
costs shall be proportionally adjusted on October 1, 2002, and each Anniversary
date thereafter, to reflect the square feet of Rentable Area then contained
in
the Premises.
Tenant
shall give Landlord written notice of its election to exercise its option to
decrease its Rentable Area of the Premises at least twelve (12) months prior
to
October 1, 2002 and twelve (12) months prior to each Anniversary Date
thereafter. In the event that Tenant shall fail to give Landlord timely written
notice of its election to exercise its option to decrease, such option shall
be
null and void until the next succeeding Anniversary Date.
-------------------------------------
6
ADDENDUM
NUMBER FOUR TO LEASE
RENT
CREDITS
One
Time Rent Credit:
Provided
Tenant is not in default under any terms of this Lease, Landlord shall pay
to
Tenant, on or before January 31, 2000, without demand, deduction or set-off,
One
Hundred Twelve Thousand Five Hundred ($112,500.00) Dollars, as a one-time credit
against the Base Rent due and payable by Tenant for the first three months
(October, November and December 1999) of this Lease (“One Time Rent Credit”).
Additional
Rent Credit:
Commencing
with the lease year beginning October 1, 2002, and each year thereafter, and
provided Tenant is not in default under any terms of this Lease, Landlord shall
pay Tenant an Additional Rent Credit equal to One ($1.00) Dollar for each square
foot of Rentable Area of the Premises occupied in excess of 34,060 square feet
(“Additional Rent Credit”). In no event shall the Additional Rent Credit exceed
Eleven Thousand Three Hundred Sixty Nine ($11,369.00) Dollars for any one lease
year. Landlord shall pay the Additional Rent Credit to Tenant without demand,
deduction of set-off on or before the 31st
day of
the month of January following the end of the lease year for which the credit
is
due.
For
the
purposes of calculation of the Additional Rent Credit, the Tenant’s occupied
Rentable Area of the Premises shall be equal to the average annual Rentable
Area
of the Premises leased during the lease year on a 365 day basis.
7
STATE
OF
FLORIDA
COUNTY
OF
VOLUSIA
SECOND
AMENDMENT TO LEASE AGREEMENT
TO
INCREASE SQUARE FOOTAGE
This
Second Amendment to Lease made this ___ day of __________, 2001, is entered
into
by and between Ridgewood Office Building, L.P., Ltd., a Delaware limited
partnership as Landlord (“Landlord”) and Xxxxx & Xxxxx, Inc., a Florida
corporation, (“Tenant”).
W
I T N E
S S E T H:
WHEREAS,
Tenant, entered into that certain Ridgewood Office Building Lease with Xxxxxxx
S. Root, Trustee, Xxxxxxx X. Xxxx Revocable Trust U/T/A 2/15/87, (said Lease
having been assigned to the Xxxxxxx S. Root 1982 Living Trust and subsequently
assigned to Ridgewood Office Building, L.P., Ltd.) for the Premises dated August
1, 1987 which sets forth the terms of occupancy by Tenant for a portion of
the
Building containing 38,738 square feet of Rentable Area (herein after referred
to as “Lease”), and that certain Letter of Agreement dated June 26, 1995 wherein
the Tenant leased an additional 1,114 square feet of Rentable Area, and that
certain First Amendment to Lease dated August 2, 1999 wherein the Tenant leased
an additional 5,577 square feet of Rentable Area resulting in a total Rental
Area of 45,429 square feet.
WHEREAS,
the Landlord and Tenant desire to modify and amend the Lease as set forth in
this Second Amendment to Lease in order to increase the Rentable Area occupied
by Tenant by an additional 3,851 square feet of Rentable Area for a total
Rentable Area of 49,280 square feet, such additional Rentable Area being the
area contained in Suite 210 on the Second Floor and Suite 330 on the Third
Floor
of the Building.
NOW,
THEREFORE, for and in consideration of the Premises, the sum of Ten and 00/100
($10.00) Dollars in hand paid by Tenant to Landlord, the mutual agreements
herein contained and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree to modify
and amend the Lease as follows:
I.
A. As to Section 2. DEFINITIONS,
2.a.
|
Base
Rent:
$579,040.00 until adjusted according to the terms set forth in the
Lease.
|
2.i.
|
Landlord’s
Mailing Address:
000 Xxxxx Xxxxxx Xxxx, Xxxxxx Xxxxx, XX
00000
|
2.j.
|
Monthly
Installments of Base Rent:
$48,253.33 per month until adjusted according to the terms set forth
in
the Lease.
|
2.l.
|
Premises:
Effective January 1, 2002, that portion of the building containing
approximately 49,280 square feet of Rentable Area, as indicated on
Exhibit
“A”.
|
2.r.
|
Tenant’s
Proportionate Share:
78.91% effective January 1, 2002. Such share is a fraction, the numerator
of which is the Rentable Area of the Premises, and the denominator
of
which is the Rentable Area of the Project, as determined by Landlord
from
time to time. The Project consists of one building containing a total
Rentable Area of 62,453 square
feet.
|
B.
As to Section 3. EXHIBITS AND ADDENDA,
said
section is amended to read as follows:
The
exhibits listed below and attached hereto are incorporated by reference in
this
Second Amendment to Lease:
a. |
Exhibit
“A” - Revised Floor Plans showing the
Premises.
|
b. |
Addenda:
Four - Rent Credit (B) Inducement Rent
Credit
|
1
C.
As to Section 11, CONSTRUCTION, REPAIRS AND MAINTENANCE.,
the
following is added:
Paragraph
11.a. Landlord has constructed Tenant Improvements in Suite 210 and has paid
for
all such improvements per plans and specifications approved by Tenant.
Landlord’s contribution to Tenant Improvements totaled $20,000.00.
Landlord
will construct Tenant Improvements in Suite 330 and pay for all such
improvements per plans and specifications approved by Tenant. Landlord’s
contribution to Tenant Improvements shall not exceed $6,200.00.
D.
As to Section 12. ALTERATIONS AND ADDITIONS., the
following is added:
Paragraph
12.b. Tenant shall reimburse Landlord for all costs to construct Tenant
Improvements in Suite 330 that exceed $6,200.00. Tenant reimbursement for such
excess costs shall be paid to Landlord no later than thirty (30) days after
Tenant receives Landlord’s submitted invoice.
II. As
to ADDENDUM NUMBER FOUR TO LEASE,
the
following is added:
(B)
Inducement Rent Credit
As
an
inducement to Tenant for increasing the Rentable Area occupied by Tenant by
an
additional 3,851 square feet effective January 1, 2002, and provided Tenant
is
not in default under any terms of this Lease, Landlord shall provide, as offsets
against Tenant’s Monthly Installments of Base Rent as they are due and payable,
credits as follows:
January 2002 | $3,770.77 per month | ||
February 2002 - September 2002 | $1,524.35 per month | ||
October 1, 2002 - September 2005 | $1,661.55 per month |
III. All
other
terms, covenants and conditions of the Lease are and shall remain in full force
and effect.
IV. Landlord
and Tenant hereby acknowledge that the Lease and this Amendment represent the
entire agreement, that no other written or oral agreements exist and that all
other provisions of the Lease not modified herein shall remain in full force
and
effect.
LANDLORD: | TENANT: |
RIDGEWOOD OFFICE BUILDING, L.P., LTD., | XXXXX & XXXXX, Inc. |
a Delaware limited partnership | a Florida corporation |
By: Root Real Estate Corp., its managing | By: /s/ X. X. Xxxxxxx |
Typed Name: X. X. Xxxxxxx | |
By: /s/ | Title: Director of Operations |
Xxxxxx X. Xxxxxxxxx, Vice President | |
Witnesses: | Witnesses: |
/s/ A. Xxxxx Xxxxxx | /s/ Xxxxx Xxxxxx |
Typed
Name:A. Xxxxx
Xxxxxx
|
Typed
Name: Xxxxx
Xxxxxx
|
/s/ Xxxxxxx X. Xxxxxxxx | /s/ Xxx Xxxxx |
Typed
Name:Xxxxxxx X.
Xxxxxxx
|
Typed
Name:Xxx
Xxxxx
|
2
STATE
OF
FLORIDA
COUNTY
OF
VOLUSIA
THIRD
AMENDMENT TO LEASE AGREEMENT
TO
INCREASE SQUARE FOOTAGE
This
Third Amendment to Lease made this 8th day of August, 2002, is
entered into by and between Ridgewood Office Building, L.P., Ltd., a Delaware
limited partnership as Landlord (“Landlord”) and Xxxxx & Xxxxx, Inc., a
Florida corporation, (“Tenant”).
W
I T N E
S S E T H:
WHEREAS,
Tenant, entered into that certain Ridgewood Office Building Lease with Xxxxxxx
S. Root, Trustee, Xxxxxxx X. Xxxx Revocable Trust U/T/A 2/15/87, (said Lease
having been assigned to the Xxxxxxx S. Root 1982 Living Trust and subsequently
assigned to Ridgewood Office Building, L.P., Ltd.) for the Premises dated August
1, 1987 which sets forth the terms of occupancy by Tenant for a portion of
the
Building containing 38,738 square feet of Rentable Area (herein after referred
to as “Lease”), and that certain Letter of Agreement dated June 26, 1995 wherein
the Tenant leased an additional 1,114 square feet of Rentable Area, and that
certain First Amendment to Lease dated August 2, 1999 wherein the Tenant leased
an additional 5,577 square feet of Rentable Area resulting in a total Rental
Area of 45,429 square feet and that certain Second Amendment to Lease dated
December 11, 2001, wherein the Tenant leased an additional 3,851 square feet
of
Rentable Area resulting in a total Rental Area of 49,280 square
feet.
WHEREAS,
the Landlord and Tenant desire to modify and amend the Lease as set forth in
this Third Amendment to Lease in order to increase the Rentable Area occupied
by
Tenant by an additional 5,435 square feet of Rentable Area contained in Suite
301 on the Third Floor of the Building. Tenant also desires to decrease the
Rentable Area occupied by Tenant by 3,480 square feet of Rentable Area contained
in Suite 100 (existing MacDuff) on the first floor of the Building, resulting
in
a total Rentable Area of 51,235 square feet.
NOW,
THEREFORE, for and in consideration of the Premises, the sum of Ten and 00/100
($10.00) Dollars in hand paid by Tenant to Landlord, the mutual agreements
herein contained and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree to modify
and amend the Lease as follows:
I.
A. As to Section 2. DEFINITIONS,
2.a.
|
Base
Rent:
$602,011.25 until adjusted according to the terms set forth in the
Lease.
|
2.i.
|
Landlord’s
Mailing Address:
000 Xxxxx Xxxxxx Xxxx, Xxxxxx Xxxxx, XX
00000
|
2.j.
|
Monthly
Installments of Base Rent:
$50,167.60 per month until adjusted according to the terms set forth
in
the Lease.
|
2.l.
|
Premises:
Effective September 1, 2002, that portion of the building containing
approximately 51,235 square feet of Rentable Area, as indicated on
Exhibit
“A”.
|
2.r.
|
Tenant’s
Proportionate Share:
82.04% effective September 1, 2002. Such share is a fraction, the
numerator of which is the Rentable Area of the Premises, and the
denominator of which is the Rentable Area of the Project, as determined
by
Landlord from time to time. The Project consists of one building
containing a total Rentable Area of 62,453 square
feet.
|
B.
As to Section 3. EXHIBITS AND ADDENDA,
said
section is amended to read as follows:
The
exhibits listed below and attached hereto are incorporated by reference in
this
Third Amendment to Lease:
a. |
Exhibit
“A” - Revised Floor Plans showing the
Premises.
|
1
C.
As to Section 12. ALTERATIONS AND ADDITIONS., the
following is added:
Tenant
shall accept the space in broom clean as-is condition and be responsible for
all
improvements and modifications. Landlord shall reimburse Tenant an Improvement
Allowance of $9.75 per square foot on the additional 5,435 square feet of
Rentable Area contained in Suite 301, the total amount being Fifty Two Thousand
Nine Hundred Seventy Five ($52,975.00) Dollars and no cents payable in-cash
or
as an offset against Tenant’s Year 2002 and/or Year 2003 Base Rent.
II. All
other
terms, covenants and conditions of the Lease are and shall remain in full force
and effect.
III. Landlord
and Tenant hereby acknowledge that the Lease and this Amendment represent the
entire agreement, that no other written or oral agreements exist and that all
other provisions of the Lease not modified herein shall remain in full force
and
effect.
LANDLORD: | TENANT: |
RIDGEWOOD OFFICE BUILDING, L.P., LTD., | XXXXX & XXXXX, INC. |
a Delaware limited partnership | a Florida corporation |
By: Root Real Estate Corp., its managing general partner | |
By: /s/ Xxxxxx Xxxxxxx | By: /s/ X. X. Xxxxxxx |
Xxxxxx Xxxxxxx, Vice President | Typed Name: X. X. Xxxxxxx |
Title: Director of Operations | |
Witnesses: | Witnesses: |
/s/ Xxxxxx XxXxx | /s/ Xxx X. Xxxxx |
Typed Name: Xxxxxx XxXxx | Typed Name: Xxx X. Xxxxx |
/s/ Xxx X. Xxxxx | /s/ Xxxxxx XxXxx |
Typed Name: Xxx X. Xxxxx | Typed Name: Xxxxxx XxXxx |
2
STATE
OF
FLORIDA
COUNTY
OF
VOLUSIA
FOURTH
AMENDMENT TO LEASE AGREEMENT
This
Third Amendment to Lease made this 26th day of October, 2004, is
entered into by and between Ridgewood Office Building, L.P., Ltd., a Delaware
limited partnership as Landlord (“Landlord”) and Xxxxx & Xxxxx, Inc., a
Florida corporation, (“Tenant”).
W
I T N E
S S E T H:
WHEREAS,
Tenant, entered into that certain Ridgewood Office Building Lease with Xxxxxxx
S. Root, Trustee, Xxxxxxx X. Xxxx Revocable Trust U/T/A 2/15/87, (said Lease
having been assigned to the Xxxxxxx S. Root 1982 Living Trust and subsequently
assigned to Ridgewood Office Building, L.P., Ltd.) for the Premises dated August
1, 1987 which sets forth the terms of occupancy by Tenant for a portion of
the
Building containing 38,738 square feet of Rentable Area (herein after referred
to as “Lease”), and that certain Letter of Agreement dated June 26, 1995 wherein
the Tenant leased an additional 1,114 square feet of Rentable Area, and that
certain First Amendment to Lease dated August 2, 1999 wherein the Tenant leased
an additional 5,577 square feet of Rentable Area resulting in a total Rental
Area of 45,429 square feet and that certain Second Amendment to Lease dated
December 11, 2001 wherein the Tenant leased an additional 3,851 square feet
of
Rentable Area resulting in a total Rental Area of 49,280 square feet and that
certain Third Amendment to Lease dated August 8, 2002 wherein the Tenant leased
an additional 5,435 square feet of Rentable Area resulting in a total Rental
Area of 51,235 square feet.
WHEREAS,
Tenant exercised its option under Addendum Number Three To Lease, Option To
Decrease Rentable Area In The Premises effective October 1, 2003 wherein the
Tenant decreased the Rental Area by 12,939 square feet such area being the
entire Fourth Floor of the Building resulting in a total Rentable Area of 38,296
square feet.
WHEREAS,
the Landlord and Tenant desire to modify and amend the Lease as set forth in
this Fourth Amendment to Lease, the Premises shall be adjusted such that
effective December 1, 2004 Tenant will occupy the entire Fourth Floor,
consisting of 12,939 square feet and vacate the space it occupies in the south
end of the Second Floor, consisting of 5,577 square feet, resulting in a total
Rentable Area of the Premises being 45,658 square feet.
NOW,
THEREFORE, for and in consideration of the Premises, the sum of Ten and 00/100
($10.00) Dollars in hand paid by Tenant to Landlord, the mutual agreements
herein contained and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree to modify
and amend the Lease as follows:
I. A.
As to Section 2. DEFINITIONS.
2.a.
|
Base
Rent:
Effective December 1, 2004 shall be $513,652.50 per year for all
space
occupied by Tenant until adjusted according to the terms set forth
in the
Lease.
|
2.g.
|
Expiration
Date:
The term of the Lease shall be extended for an additional seven (7)
years
ending September 30, 2016.
|
2.i.
|
Landlord’s
Mailing Address:
000 Xxxxx Xxxxxx Xxxx, Xxxxxx Xxxxx, XX
00000
|
2.j.
|
Monthly
Installments of Base Rent:
For the months of October and November, 2004 shall be $35,902.50
and
effective December 1, 2004 shall be $42,804.38 per month until adjusted
according to the terms set forth in the
Lease.
|
2.r.
|
Tenant’s
Proportionate Share:
73.11% such share is a fraction, the numerator of which is the Rentable
Area of the Premises, and the denominator of which is the Rentable
Area of
the Project, as determined by Landlord from time to time. The Project
consists of one building containing a total Rentable Area of 62,453
square
feet.
|
B.
As to Section 3. EXHIBITS AND ADDENDA,
said
section is amended to read as follows:
The
exhibits listed below and attached hereto are incorporated by reference in
this
Fourth Amendment to Lease:
a. |
Exhibit
“A” - Revised Floor Plans showing the
Premises.
|
1
C.
As to Section 5. Rent.,
said
section is amended to read as follows:
5.2(a). Adjusted
Base Rent.
The
amount of Base Rent (and the corresponding Monthly installments
of Base
Rent) payable hereunder shall be adjusted commencing on Tenant's
First
Adjustment Date of October 1, 2007 and each three-year period (10/1/10
and
10/1/13) after the Tenant’s first Adjustment Date. Adjustments, if any,
shall be based upon increases (if any) in the Index. The Index
in
publication July 1, 2004 shall be the "Base Index." On each Adjustment
Date, the Base Rent shall be increased by a percentage equal to
the
percentage increase, if any, in the Index in publication three
(3) months
before the Adjustment Date (the "Comparison Index") over the Base
Index
("adjusted Base Rent"). In the event the Comparison Index is less
than the
prior Comparison Index (or Base Index, as the case may be), the
Base Rent
shall remain the amount of Base Rent payable during that preceding
period.
When the adjusted Base Rent payable as of each Adjustment Date
is
determined, Landlord shall give Tenant written notice of such adjusted
Base Rent and the manner in which it was computed. The adjusted
Base Rent
shall thereafter be the "Base Rent" for all purposes under this
Lease.
|
D.
As to Section 12. ALTERATIONS AND ADDITIONS.,
the
following is added:
Tenant
shall accept the space in broom clean as-is condition and be responsible
for all improvements and modifications. Landlord shall reimburse
Tenant an
Improvement Allowance of $6.00 per square foot on the additional
7,362
square feet net increase in the Rentable Area on December 15, 2004,
the
total amount being Forty Four Thousand One Hundred Seventy Two
($44,172.00) Dollars and no cents.
|
At
its sole cost and expense and prior to December 1, 2004, Landlord
shall
construct a new entrance door in the north wall of the Fourth Floor
elevator foyer.
|
E.
As to ADDENDUM NUMBER THREE Option To Decrease Rentable Area In The
Premises.,
This
Addendum shall terminate and become null and void as of October 1,
2004.
F.
As to ADDENDUM NUMBER FOUR Rent Credits., This
Addendum shall terminate and become null and void as of October 1,
2004.
II. All
other
terms, covenants and conditions of the Lease are and shall remain in full force
and effect.
III. Landlord
and Tenant hereby acknowledge that the Lease and this Amendment represent the
entire agreement, that no other written or oral agreements exist and that all
other provisions of the Lease not modified herein shall remain in full force
and
effect.
LANDLORD: | TENANT: |
RIDGEWOOD OFFICE BUILDING, L.P., LTD., | XXXXX & XXXXX, INC. |
a Delaware limited partnership | a Florida corporation |
By: Root Real Estate Corp., its managing general partner | |
By: /s/ | By: /s/ X. X. Xxxxxxx |
Xxxxxx X. Xxxxxxxxx, Vice President | Typed Name: X. X. Xxxxxxx |
Title: Director of Operations - Dayton | |
Witnesses: | Witnesses: |
/s/ A. Xxxxx Xxxxxx | /s/ Xxx X. Xxxxx |
Typed
Name:A. Xxxxx
Xxxxxx
|
Typed Name: Xxx X. Xxxxx |
/s/ L. Xxx Xxxxx | /s/ Xxxxx X. Xxxxxx |
Print Name: L. Xxx Xxxxx | Print Name: Xxxxx X. Xxxxxx |
2