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EXHIBIT 10.10
FOURTH AMENDMENT TO LEASE
This Fourth Amendment of Lease is dated as of January 1, 1998 between
ADVENT REALTY LIMITED PARTNERSHIP II, a Delaware limited partnership with an
address at 00 Xxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000 ("Landlord"), and
XXXXXXXXX RESEARCH, INC. a Delaware corporation with an address at 0000
Xxxxxxxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxxxxxx 00000 ("Tenant").
WHEREAS, Landlord and Tenant have entered into a Lease dated as of May 1,
1995, a First Amendment to Lease dated as of August 28, 1995, a Second
Amendment to Lease dated as of May 21, 1996, and a Third Amendment to Lease
dated as of May 6, 1997, all with respect to the Building (as so amended, the
"Lease");
WHEREAS, pursuant to the initial Lease Landlord demised to Tenant and
Tenant leased from Landlord the entire second floor of the Building consisting
of 13,223 rentable square feet of space and 7,425 rentable square feet of space
on the third floor of the Building (the "Initial Premises") for a term
commencing June 12, 1995 and expiring January 31, 2001;
WHEREAS, pursuant to the First Amendment to Lease, Landlord and Tenant
added to the Premises demised under the lease 2,326 rentable square feet of
space on the third floor of the Building (the "First Amendment Third Floor
Premises") for a term commencing September 1, 1995 through January 31, 2001;
WHEREAS, pursuant to the Second Amendment to Lease, Landlord and Tenant
added to the Premises demised under the lease 3,472 rentable square feet of
space on the third floor of the Building for a term commencing June 3, 1996
through January 31, 2001 (the "Second Amendment Third Floor Premises");
WHEREAS, also pursuant to the Second Amendment to Lease, Landlord and
Tenant added to the Premises demised under the lease the entire fifth floor of
the Building consisting of 12,500 rentable square feet of space and the entire
sixth floor of the Building consisting of 12,500 rentable square feet of space
(the "Fifth and Sixth Floor Premises") for a term commencing May 21, 1996
through June 8, 2001;
WHEREAS, pursuant to the Third Amendment to Lease, Landlord and Tenant
added to the Premises demised under the lease the entire fourth floor of the
Building consisting of 12,500 rentable square feet of space (the "Fourth Floor
Premises") for a term commencing May 6, 1997 through May 5, 2002;
WHEREAS, Tenant exercised its right of first offer to lease the mezzanines
space of the Building pursuant to Section 18.1.2 of the Lease; and
WHEREAS, Landlord and Tenant desire to add to the Premises the mezzanine
space of the Building consisting of 4,957 rentable square feet (the "Mezzanine
Premises") for a term commencing as of January 1, 1998 and expiring December 31,
2002 on the terms contained herein;
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NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, and in consideration of the mutual
covenants herein contained, Landlord and Tenant hereby agree as follows. Terms
not defined herein shall have the same meaning as in the Lease.
1. TERM. Effective January 1, 1998, Section 1.1 of the Lease shall be
amended by deleting the defined terms "TERM COMMENCEMENT DATE" and "TERM
EXPIRATION DATE" and substituting therefor the following:
"TERM OF LEASE:
(a) The Term of this Lease with respect to the Initial Premises shall
commence on June 12, 1995 and expire on January 31, 2001;
(b) The Term of this Lease with respect to the First Amendment Third
Floor Premises shall commence on September 1, 1995 and expire on
January 31, 2001;
(c) The Term of this Lease with respect to the Second Amendment Third
Floor Premises shall commence on June 3, 1996 and expire on
January 31, 2001;
(d) The Term of this Lease with respect to the Fifth and Sixth Floor
Premises shall commence on May 21, 1996 and expire on June 8, 2001;
(e) The Term of this Lease with respect to the Fourth Floor Premises
shall commence on May 6, 1997 and expire on May 5, 2002;
(f) The Term of this Lease with respect to the Mezzanine Premises shall
commence on January 1, 1998 and expire on December 31, 2002."
2. MEASUREMENT OF THE PREMISES. Effective January 1, 1998, Section 1.1
of the Lease shall be amended by deleting the defined term "RENTABLE FLOOR AREA
OF THE PREMISES" and substituting therefor the following:
"RENTABLE FLOOR AREA OF
THE PREMISES: 68,903 Square Feet
Second Floor: 13,223 Square Feet
Third Floor: 13,223 Square Feet
Fourth Floor: 12,500 Square Feet
Fifth Floor: 12,500 Square Feet
Sixth Floor: 12,500 Square Feet
Mezzanine: 4,957 Square Feet"
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3. ANNUAL BASIC RENT. Effective January 1, 1998, Section 1.1 of the
Lease shall be amended by deleting the defined term "ANNUAL BASIC RENT" and
substituting therefor the following:
"ANNUAL BASIC RENT:
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TIME PERIOD ANNUAL RATE CALCULATION
____________________________________________________________________________
June 12, 1995 through $ 293,019.65 $17.05 X 13,223 rsf +
August 31, 1995 $ 9.10 X 7,425 rsf
____________________________________________________________________________
September 1, 1995 through $ 327,909.65 $17.05 X 13,223 rsf +
December 11, 1995 $ 9.10 X 7,425 rsf +
$15.00 X 2,326 rsf
____________________________________________________________________________
December 12, 1995 through $ 386,938.40 $17.05 X 20,648 rsf +
May 20, 1996 $15.00 X 2,326 rsf
____________________________________________________________________________
May 21, 1996 through $ 861,938.40 $17.05 X 20,648 rsf +
June 2, 1996 $15.00 X 2,326 rsf +
$19.00 X 25,000 rsf
____________________________________________________________________________
June 3, 1996 through $ 914,018.40 $17.05 X 20,648 rsf +
May 5, 1997 $15.00 X 5,798 rsf +
$19.00 X 25,000 rsf
____________________________________________________________________________
May 6, 1997 through $1,170,268.40 $17.05 X 20,648 rsf +
June 11, 1997 $15.00 X 5,798 rsf +
$20.50 X 12,500 rsf +
$19.00 X 25,000 rsf
____________________________________________________________________________
June 12, 1997 through $1,181,005.36 $17.57 X 20,648 rsf +
June 30, 1997 $15.00 X 5,798 rsf +
$20.50 X 12,500 rsf +
$19.00 X 25,000 rsf
____________________________________________________________________________
July 1, 1997 through $1,195,906.22 $17.57 X 26,446 rsf +
December 31, 1997 $20.50 X 12,500 rsf +
$19.00 X 25,000 rsf
____________________________________________________________________________
January 1, 1998 through $1,312,395.70 $17.57 X 26,446 rsf +
June 11, 1999 $20.50 X 12,500 rsf +
$19.00 X 25,000 rsf +
$23.50 X 4,957 rsf
____________________________________________________________________________
June 12, 1999 through $1,323,503.04 $17.99 X 26,446 rsf +
January 31, 2001 $20.50 X 12,500 rsf +
$19.00 X 25,000 rsf +
$23.50 X 4,957 rsf
____________________________________________________________________________
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TIME PERIOD ANNUAL RATE CALCULATION
____________________________________________________________________________
February 1, 2001 through $847,739.50 $20.50 X 12,500 rsf +
June 8, 2001 $19.00 X 25,000 rsf +
$23.50 X 4,957 rsf
____________________________________________________________________________
June 9, 2001 through $372,739.50 $20.50 X 12,500 rsf +
May 5, 2002 $23.50 X 4,957 rsf
____________________________________________________________________________
May 6, 2002 through $116,489.50 $23.50 X 4,957 rsf
December 31, 2002
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4. PARKING. Effective January 1, 1998, Section 1.1 of the Lease shall
be amended by deleting the defined term "PARKING" and substituting therefor the
following:
"PARKING: Seventy-eight (78) spaces"
The parking plan attached hereto as Exhibit A shall, as of such
effective date, be substituted for the parking plan attached to the Third
Amendment to Lease.
Except as expressly modified herein, all the terms and conditions of
the Lease shall remain in full force and effect and are hereby ratified and
confirmed.
IN WITNESS WHEREOF, the parties hereto have caused this instrument
to be executed in multiple counterparts under seal as of the date first above
written.
Landlord:
ADVENT REALTY LIMITED PARTNERSHIP II
By: Advent Realty XX XX Limited
Partnership, its General Partner
By: Advent Realty, Inc.,
its General Partner
By: /s/
--------------------------------
Tenant:
XXXXXXXXX RESEARCH, INC.
By: /s/ Xxxxxx X. Colony
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Xxxxxx X. Colony, President
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