EXHIBIT 10.8
SIXTH AMENDMENT TO LEASE, EFFECTIVE AS OF THE 1ST DAY OF MARCH, 1997
BETWEEN THE REGISTRANT AND AMERICAN NATIONAL BANK
AND TRUST COMPANY OF CHICAGO, NOT INDIVIDUALLY,
BUT SOLELY AS TRUSTEE UNDER A CERTAIN TRUST AGREEMENT
DATED THE 30TH DAY OF JULY, 1985,
AND KNOWN AS TRUST NUMBER 65110
This Sixth Amendment to Lease is made and entered into as of the 1st day of
March, 1997 between American National Bank and Trust Company of Chicago, not
individually, but solely, as Trustee under a certain Trust Agreement dated the
30th day of July, 1985, and known as Trust number 65110 (the "Landlord"), and
MMI Companies, Inc. (the "Tenant"). This agreement amends that certain Lease
dated the 7th day of December, 1990 between Landlord and Tenant (the "Lease") as
previously amended by First Amendment to Lease, dated August, 1992, Second
Amendment to Lease, dated October, 1994, Third Amendment to Lease, dated
January, 0000, Xxxxxx Xxxxxxxxx to Lease, dated June, 1996 and Fifth Amendment
dated July, 1996. Landlord and Tenant are desirous of further amending the
Lease for and in consideration of the premises and the agreements hereinafter
set forth. Capitalized terms used herein shall have the same meaning as those
ascribed to them in the Lease unless otherwise defined herein.
1. LEASE OF PREMISES. The definition of Premises in Paragraph 1 of the
Lease is hereby amended to include an additional 20,792 rentable square feet on
the third floor of the Building (the "Additional Space"), to the existing
114,798 rentable square feet in the Premises as shown on Exhibit A attached
hereto and made a part hereof. The total amount of the Premises shall be
135,590 rentable square feet, which number shall be substituted for 114,798
rentable square feet in Section 1 of the Lease.
2. TERM. The Term on the Additional Space shall commence on July 1, 1997
and the Termination Date shall be June 30, 2006. Rent shall commence on the
earlier of November 1, 1997 or the date Tenant occupies the Additional Space in
order to conduct its business.
3. REVISED BASE RENT. The amount of Base Rent shown on Exhibit A-1
attached to the Lease is amended and replaced with a new Exhibit A-1 attached
hereto and made part of the Lease.
4. TENANTS PROPORTIONATE SHARE. Commencing November 1, 1997 "Tenant's
Proportionate Share" shall be amended by deleting "64.63%" and substituting for
the deleted figure "76.34%."
5. CONSTRUCTION. Landlord shall construct the Additional Space pursuant
to Tenant's drawings and specifications, which drawings and specifications shall
be identified in a separate Work Letter to be provided by Tenant. Landlord will
contribute $311,880 towards the cost of the construction or reconstruction of
the Additional Space. Any costs incurred in excess of this amount shall be the
responsibility of the Tenant.
6. EXCULPATORY CLAUSE. This Amendment to Lease is executed by American
National Bank and Trust Company of Chicago, not personally but as Trustee as
aforesaid, in the exercise of the power and authority conferred upon and vested
in it as such Trustee, and under the express direction of the beneficiaries of a
certain Trust Agreement dated July 30, 1985 and known as Trust Number 65110 at
said Bank. Nothing in this Lease contained shall be construed as creating any
liability whatsoever against said Trustee personally or said beneficiaries, and
in particular, without limiting the generality of the foregoing, there shall be
no personal liability to perform any covenant, either express or implied, herein
contained, to keep, preserve or sequester any property of said Trust, and that
all personal
liability of said Trustee (and said beneficiaries, to the extent permitted by
law), of every sort, if any, is hereby expressly waived by Tenant, and by every
person now or hereafter claiming any right or security hereunder; and that so
far as the parties hereto are concerned the owner of any indebtedness or
liability accruing hereunder shall look solely to the Trust Estate from time to
time subject to the provisions of said Trust Agreement for the payment thereof.
The Trustee has no agents or employees and merely holds naked title to the
property herein described and has no knowledge respecting rentals, leases or
other factual matters with respect to the Premises, except as represented to it
by the beneficiary or beneficiaries of the Trust.
7. Except as modified by the terms of this Amendment, all of the terms
and provisions of the said Lease shall be and remain in full force and effect.
LANDLORD TENANT
AMERICAN NATIONAL BANK MMI COMPANIES, INC.
AND TRUST COMPANY OF
CHICAGO, NOT INDIVIDUALLY, BUT
SOLELY AND ONLY AS TRUSTEE AFORESAID.
BY: BY:
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ITS: ITS:
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