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EXHIBIT 10.7
AGREEMENT OF LEASE
DATED AS OF AUGUST 16, 1999
BY AND BETWEEN
MERIDIAN CENTRE ASSOCIATES, L.P.
LANDLORD
AND
GENENCOR INTERNATIONAL, INC.
TENANT
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TABLE OF CONTENTS
1. COMMENCEMENT OF TERM.................................................................1
2. USE..................................................................................4
3. RENT.................................................................................4
4. LEASEHOLD IMPROVEMENTS...............................................................7
5. SERVICES.............................................................................8
6. WAIVER OF CERTAIN CLAIMS............................................................10
7. INSURANCE...........................................................................10
8. HOLDING OVER........................................................................11
9. ASSIGNMENT AND SUBLETTING...........................................................12
10. CONDITION OF PREMISES...............................................................15
11. USE OF PREMISES.....................................................................15
12. REPAIRS.............................................................................20
13. DESTRUCTION OF PREMISES.............................................................21
14. CONDEMNATION........................................................................22
15. CERTAIN RIGHTS RESERVED TO LANDLORD.................................................23
16. LANDLORD'S REMEDIES.................................................................23
17. LATE CHARGE.........................................................................26
18. SUBORDINATION OF LEASE..............................................................26
19. NOTICES AND CONSENTS................................................................26
20. NO ESTATE IN LAND...................................................................27
21. INVALIDITY OF PARTICULAR PROVISIONS.................................................27
22. WAIVER OF TRIAL BY JURY.............................................................28
23. MISCELLANEOUS TAXES.................................................................28
24. BROKERAGE...........................................................................28
25. FORCE MAJEURE.......................................................................28
26. PARKING.............................................................................29
27. REPETITIVE DEFAULTS.................................................................29
28. DIRECTORY AND SIGNAGE...............................................................29
29. SPECIAL STIPULATIONS................................................................29
30. QUIET ENJOYMENT.....................................................................30
31. ESTOPPEL CERTIFICATE BY TENANT......................................................31
32. INTENTIONALLY DELETED...............................................................31
33. MOVING ALLOWANCE...................................................................31
34. TERMINATION OPTION..................................................................31
35. FINANCIAL STATEMENTS................................................................32
36. ENTIRE AGREEMENT....................................................................32
37. RECYCLING PROGRAM...................................................................32
38. AUTHORITY...........................................................................33
39. EXHIBITS............................................................................33
EXHIBIT "A" FLOOR PLAN/SITE PLAN
EXHIBIT "B" BUILDING STANDARD WORKLETTER
EXHIBIT "C" CLEANING SCHEDULE
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AGREEMENT OF LEASE
THIS AGREEMENT OF LEASE, dated as of August 16, 1999 is entered
into by and between MERIDIAN CENTRE ASSOCIATES, L.P., a partnership organized
under the laws of the State of New York having its principal place of business
at 000 Xxxxxxxxx Xxxxx, Xxxxx 000, Xxxxxxxxx, Xxx Xxxx 00000 (the "Landlord"),
and GENENCOR INTERNATIONAL, INC., a Delaware corporation with an office at 0
Xxxxxxxxx Xxxxx, 0000 Xxxxx Xxxxxx Xxxx, Xxxxxxxxx, Xxx Xxxx 00000 (the
"Tenant").
WITNESSETH:
Landlord hereby leases unto Tenant and Tenant hereby accepts from Landlord, that
certain space consisting of approximately 43,472 square feet (the "Total
Rentable Area") comprised of 34,528 rentable square feet making up the entire
third floor (3rd) floor and known as Suite 300 and 8,944 feet on the second
floor (the "Premises") of the building (the "Building") known as Building 200 of
Meridian Centre, Town of Brighton, County of Monroe, State of New York, with the
right to use the subdivided lot (the "Lot") on which the Building is located and
the right to use the driveways, parking areas, and all other land to be used in
common by all tenants, such driveways, parking areas and other lands
collectively referred to as the "Meridian Centre Common Areas"), as more
particularly shown on the Floor Plan and Site Plan attached as Exhibit "A"
hereto for the term, the rent, and subject to the conditions and covenants
hereinafter provided. The Building, and the Lot, and all other improvements
thereon will sometimes be collectively referred to herein as the "Property".
1. COMMENCEMENT OF TERM
(a) Date of Commencement. The term of this Lease shall commence
on that date (the "Commencement Date") which is the earlier of December 8, 1999
or the date on which Landlord has substantially completed with respect to the
Premises all of the Work (as defined in Section 4) subject only to punchlist
items. For purposes of the preceding sentence, substantial completion of the
Work shall include obtaining all permits or approvals necessary to permit Tenant
to lawfully occupy the Premises. The term as so commenced shall end at midnight
on December 31, 2009 (the "Term"). Notwithstanding the foregoing, Landlord and
Tenant agree that if Tenant takes possession of the Premises prior to Landlord's
substantial completion of Work, for any purpose other than preparing the
Premises for occupancy by Tenant then the term of this Lease shall commence on
the date Tenant takes such possession of the Premises.
(b) Plans and Specifications. Tenant, at its expense, shall
submit to Landlord, for Landlord's review and approval, working architectural,
engineering, electrical and finish schedule drawings (the "Plans") and a list or
lists of specifications ("Specifications"), if not set forth on such Plans, for
the Work to be performed at the Premises by September 8, 1999. Tenant shall
deliver preliminary plans and drawings to Landlord as soon as possible. Tenant
reserves the right, subject to review and approval by Landlord, to supplement,
modify or change such Plans and Specifications; provided, however, that Tenant
shall be solely responsible for any delays or additional costs caused in the
substantial completion of the Premises as a result of any
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such supplementation, modification or change. Landlord shall have a reasonable
time within which to perform its review and approve or disapprove any Plans or
Specifications, or supplement, modification or change thereof or thereto. Any
such approval or disapproval shall be in writing and in the event of a
disapproval the reasons therefor shall be stated in writing. Landlord, further
agrees not to unreasonably withhold or delay any such approval or disapproval.
(c) Tenant Delays. If a delay shall occur in the substantial
completion of the Premises by Landlord as the result of (i) Tenant's failure to
furnish when due the Plans and Specifications for the Work or any additional
information requested in connection therewith, (ii) any supplementation,
modification or change by Tenant in any air conditioning requirement, Plan,
Specification or finish information furnished by Tenant, (iii) any change order
by Tenant other than as described in (ii) above, (iv) the completion of any part
of the work by a person, firm or corporation employed by Tenant, (v)
installation of Tenant's telephone, word processing, computer and/or other
communications systems, or (vi) any direction by Tenant that Landlord hold up
proceeding for any reason, then, if any such delay by Tenant causes a delay in
the Commencement Date beyond January 1, 2000, then for each day, or part
thereof, of such delay, the Commencement Date shall be deemed to be the date the
Commencement Date would have been absent such delay.
(d) Force Majeure Delays. Landlord's obligations to
substantially complete the Premises are expressly qualified by the provision in
this Lease on "Force Majeure" contained in Section 25 hereof, and each day of
delay caused by an event of Force Majeure shall result in a day's postponement
of each date and time limit set forth in this section.
(e) Early Possession. Tenant and its contractors shall be
allowed access to the Premises commencing fifteen (15) days prior to the
Commencement Date in order to install special equipment such as telephone
systems, communications equipment and computer systems; provided that Tenant
delivers written evidence to Landlord in advance that Tenant is then carrying
all insurance required by Section 7 of this Lease to be carried by Tenant, and
provided further that Tenant delivers written evidence to Landlord of the
insurance carried by each such contractor, which insurance must be approved in
writing by Landlord prior to any such contractor entering the Premises. Landlord
shall not be responsible for, nor shall the Commencement Date be delayed as a
result of, any delay in the issuance of any occupancy permit for the Premises
caused by or related to Tenant's installation of any such special equipment. Any
and all activity by Tenant or its contractors in the Premises prior to the
Commencement Date (i) shall be coordinated with Landlord and its general
contractor to insure that Tenant's work on and to the Premises does not
materially interfere with the work being performed by Landlord and its
contractors and (ii) shall be in compliance with such reasonable rules as
Landlord shall impose. If Landlord determines that Tenant or its contractor is
materially interfering with Landlord's work in the Premises, then Landlord shall
have the right to require the interfering party to leave the Premises until a
time when such party will not be interfering with Landlord's work, and, in any
such event, Tenant shall have no right to assert that the Commencement Date or
Tenant's other obligations under the Lease are affected thereby. Except to the
extent caused by the gross negligence or willful misconduct of Landlord and not
covered by insurance carried by Tenant or its contractor as required in this
Lease to be carried by such party, Landlord shall have no responsibility with
respect to any items placed in the Premises prior to the Commencement Date, and
Tenant and its contractor shall indemnify and hold
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Landlord harmless from and against any and all losses, damages, liabilities,
actions, claims, costs and expenses, including court costs and reasonable
attorneys' fees, to the extent arising out of or relating to Tenant's and its
contractor's entry into the Premises or installation or movement of equipment or
other property into the Premises. If any contractor of Tenant asserts a lien
against the Building, then such lien shall be discharged by Tenant at Tenant's
expense within ten (10) business days after receipt of written notice from
Landlord by the payment thereof or the filing of a bond acceptable to Landlord.
If Tenant fails to timely discharge such lien, then Landlord shall have the
right to do so at Tenant's expense, in which event Tenant shall reimburse
Landlord therefor within ten (10) business days after demand.
(f) Late Delivery.
(i) If the Commencement Date does not occur on or before
December 15, 1999 (as such date may be extended as hereinbelow described, the
"Penalty Date"), then Landlord agrees to provide Tenant an abatement of Base
Rent equal to one day (based on the Base Rent payable during the first Lease
Year) for each day commencing on the Penalty Date and continuing to (but not
including) the earlier to occur of (1) the Commencement Date or (2) the Second
Penalty Date (as defined in Section 1(f)(ii) below). In the event of any delay
in Landlord's delivery of the Premises because of any of the factors or cause
described in Section 25 hereof or the wrongful acts or omissions of Tenant
(including, without limitation, the factors or causes described in clauses (i)
or (vi) of Section 1(c)), the Penalty Date shall be automatically extended for a
period equal to the period of such delay. In addition, if this Lease has not
been executed by Tenant and delivered to Landlord in form satisfactory to
Landlord by August 16, 1999, then the Penalty Date shall be extended by the
number of days after August 16, 1999 until this Lease is executed by Tenant and
delivered to Landlord in form satisfactory to Landlord. Further, if Tenant has
not delivered the final Plans and Specifications to Landlord by September 8,
1999, then the Penalty Date shall be extended by the number of days after
September 8, 1999 until Tenant has delivered such final Plans and Specifications
to Landlord.
(ii) If the Commencement Date does not occur on or
before January 17, 2000 (as such date may be extended as hereinbelow described,
the "Second Penalty Date"), then Landlord agrees to provide Tenant with
temporary premises (as more particularly outlined below in this paragraph) for
the period from the Second Penalty Date to (but not including) the Commencement
Date, or, if applicable, the date Tenant terminates this Lease pursuant to
Section 1(f)(iii) below. In the event Landlord shall become obligated to provide
Tenant with temporary premises pursuant to this Section, then such premises
shall be of reasonably similar size and quality as Tenant's existing premises at
0 Xxxxxxxxx Xxxxx, 0000 Xxxxxx Xxxx Xxxxx, Xxxxxxxxx, Xxx Xxxx (the "Existing
Premises"), located on the east side of Rochester in a suburban area and within
approximately a 10 mile radius of the Existing Premises. Landlord shall
reimburse Tenant for all of Tenant's reasonable out of pocket costs incurred in
connection with such relocation and the rent payable at any such premises only
to the extent that such rent at the temporary premises exceeds the rent that
would have been payable at the Existing Premises during such period, assuming
the rent at the Existing Premises would have been the same as the rent in effect
at the Existing Premises during January of 2000. It is understood and agreed
that Landlord may satisfy its obligations to temporarily relocate the premises
as described in this paragraph by reaching an agreement with Tenants existing
Landlord to allow Tenant to remain in the Existing Premises during such period.
In the event of any delay in Landlord's delivery of the
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Premises because of any of the factors or cause described in Section 25 hereof
or the wrongful acts or omissions of Tenant (including, without limitation, the
factors or causes described in clauses (i) or (vi) of Section 1(c)), the Second
Penalty Date shall be automatically extended for a period equal to the period of
such delay. In addition, if this Lease has not been executed by Tenant and
delivered to Landlord in form satisfactory to Landlord by August 16, 1999, then
the Second Penalty Date shall be extended by the number of days after August 16,
1999 until this Lease is executed by Tenant and delivered to Landlord in form
satisfactory to Landlord. Further, if Tenant has not delivered the final Plans
and Specifications to Landlord by September 8, 1999, then the Second Penalty
Date shall be extended by the number of days after September 8, 1999 until
Tenant has delivered such final Plans and Specifications to Landlord.
(iii) If the Commencement Date does not occur on or
before May 31, 2000 (as such date may be extended as hereinbelow described, the
"Outside Date"), then Tenant shall have the option for a period of 15 days after
the Outside Date (but in no event after the Commencement Date) to notify
Landlord of its intent to cancel this Lease by written notice delivered to
Landlord. If Tenant timely provides such notice, then this Lease shall be deemed
terminated and the parties hereto shall have no further liability to each other.
In the event of any delay in Landlord's delivery of the Premises because of any
of the factors or causes described in Section 25 hereinbelow or the acts or
omissions of Tenant (including, without limitation, the factors or causes
described in clauses (i) - (iii) of Section 1(c)), Tenant's option to cancel
this Lease shall be postponed for the period of such delay and the Outside Date
shall be automatically extended for a period equal to the period of such delay.
In addition, if this Lease has not been executed by Tenant and delivered to
Landlord in form satisfactory to Landlord by August 16, 1999, then Tenants
option to cancel this Lease shall be postponed and the Outside Date
automatically extended by the number of days after August 16, 1999 until this
Lease is executed by Tenant and delivered to Landlord in form satisfactory to
Landlord. Further, if Tenant has not delivered the final Plans and
Specifications to Landlord by September 8, 1999, then Tenant's option to cancel
this Lease shall be postponed and the Outside Date automatically extended by the
number of days after September 8, 1999 until Tenant has delivered such final
Plans and Specifications to Landlord.
2. USE
The Premises shall be occupied and used by Tenant solely for
general office and/or professional business purposes.
3. RENT
(a) Base Rent. Tenant shall pay to Landlord as base or fixed
rent (the "Base Rent"), in U.S. legal tender, at Landlord's offices at 000
Xxxxxxxxx Xxxxx, Xxxxx 000, Xxxxxxxxx, Xxx Xxxx 00000, or as otherwise directed
from time to time by Landlord's written notice, the annual sum of SEVEN HUNDRED
SEVENTY-EIGHT THOUSAND ONE HUNDRED FORTY-EIGHT AND 76/100 DOLLARS ($778,148.76),
such Base Rent to be paid in equal monthly payments of SIXTY-FOUR THOUSAND EIGHT
HUNDRED FORTY-FIVE AND 73/100 DOLLARS ($64,845.73) each promptly on the first
day of every calendar month of the term of this Lease and any extension period
hereof, if this Lease is extended, and pro rata, in advance, for any partial
month, without demand, the same being hereby waived, and without any
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set-off or deduction whatsoever, subject to upward adjustment pursuant to
Section 3(b) below. A late charge will be due and owing at the rate prescribed
in Section 17 of this Lease upon any Base Rent and Additional Rent (below
defined) not paid by the fifth (5th) business day of the calendar month in which
due.
(b) Increase in Base Rent. The Base Rent shall increase from
time to time during the term of this lease, and shall be payable in accordance
with the following schedule:
Annual Monthly Rental Rate
Lease Years Base Rent Base Rent per square foot
----------- --------- --------- ---------------
1-3 $778,148.76 $64,845.73 $17.90
4-7 $821,620.80 $68,468.40 $18.90
8-10 $865,092.84 $72,091.07 $19.90
As used herein, the term "Lease Year" shall mean the period from the
Commencement Date through December 31, 2000 for the first Lease Year and each
successive calendar year thereafter for the second and each subsequent Lease
Year.
(c) Rent Deposit. Concurrently with Tenant's execution of this
Lease, Tenant shall pay to Landlord an amount equal to one (1) monthly
installment of Base Rent at the rate payable during the first (1st) Lease Year,
which amount shall be credited to the first monthly installment of Base Rent due
and payable hereunder.
(d) Rent Abatement. Provided that Tenant has not defaulted
hereunder, Tenant shall be provided an abatement of Base Rent for the period
from the Commencement Date through December 31, 1999.
(e) Real Property Taxes. Tenant shall pay to Landlord each year,
as Additional Rent, a sum equal to the amount by which the real estate taxes and
other assessments (collectively the "Real Property Taxes" as below defined)
allocable to and levied against the Premises during such year exceed the Real
Property Taxes payable for calendar year 2000 for County Taxes and fiscal year
1999/2000 for School Taxes (whether or not same are included in the County or
School Tax bills); provided, however, that if the Building has not been assessed
as a completed building as of such base year, the base year for School Taxes
and/or the base year for County Taxes shall be the first taxable year for which
the Building is assessed as a completed Building. The amount so allocable to and
levied against the Premises will be the sum obtained by multiplying Tenant's
"Pro Rata Share" (below defined) by the Real Property Taxes levied against the
Building and Lot. Landlord will notify Tenant of the actual base amount for Real
Property Taxes after such amount is established.
For purposes of this Lease, Real Property Taxes shall be defined
as follows: (i) All real estate taxes, including but not limited to town, county
and school taxes payable (adjusted after protest or litigation, if any) for any
part of the term of this Lease, including any extension period hereof, but
exclusive of penalties, on the Property, (ii) any taxes which shall be levied in
lieu of the taxes described in (i) above or which shall be levied on the gross
rentals of the Property and Meridian Centre Common Areas (e.g. occurring as a
result of a total or partial
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change in the method of taxation) but excluding all income taxes of Landlord,
(iii) pure waters charges (part based upon assessment and part upon the water
consumption by other tenants and users in Meridian Centre), sewer district
charges, township lighting charges, fire district charges and other charges and
any assessments (special or otherwise) made against the Property and Meridian
Centre Common Areas which shall be required to be paid during the calendar year
or fiscal year in respect to which they are being determined (it being
understood that for purposes hereof all special assessments shall be deemed to
have been paid by Landlord in the maximum number of installments permitted
without penalty or other extra charge), (iv) any water and water pollution
charges (which are in the nature of or normally billed with real estate taxes),
(v) and any other governmental real estate taxes, levies, impositions or charges
of a similar or dissimilar nature, whether general, special, ordinary,
extraordinary, foreseen or unforeseen which may be assessed, levied or imposed
upon all or any part of the Property and Meridian Centre Common Areas, and (vi)
the reasonable expense of contesting the amount or validity of any such taxes,
charges or assessments, such expense (including reasonable attorneys fees) to be
applicable to the period of the item contested. Landlord shall make reasonable
efforts to notify Tenant of any tax appeals.
(f) Tenant's Share of Real Property Taxes. For purposes hereof,
Tenant's "Share of Real Property Taxes" shall be that product obtained by
multiplying the amount of the Real Property Taxes against the Building and Lot
by a fraction, the numerator of which shall be the number of square feet of
Total Rentable Area of the Premises and the denominator of which shall be the
total number of square feet of Total Rentable Area of the Building. The
determination of Total Rentable Area of the Building and the Premises is based
on the Standard Method of Calculating Floor Area in Office Building published by
BOMA in the 1996 publication. Landlord and Tenant agree that Tenant's pro rata
share ("Pro Rata Share") for these purposes shall be 45.23%.
(g) Estimates. In order to provide for current payments of Real
Property Taxes Tenant agrees to pay, as Additional Rent, Tenant's Share of Real
Property Taxes in accordance with an estimate by Landlord as prepared from time
to time, such estimated amount to be paid in twelve (12) monthly installments
commencing on the first day of the month following the month in which Landlord
notifies Tenant of the amount of Tenant's Share of Real Property Taxes. If, as
finally determined, Tenant's Share of Real Property Taxes shall be greater than
or be less than the aggregate of all estimated installments thereof paid by
Tenant on account to Landlord for such twelve (l2) month period, then Tenant
shall pay to Landlord the amount of such underpayment, or Landlord shall refund
to Tenant the amount of such overpayment, as the case may be. The obligation of
Tenant with respect to the payment of such Real Property Taxes and the
obligation of Landlord to refund an overpayment of Real Property Taxes accrued
during the term of this Lease, or any extension period hereof if this Lease is
extended, shall survive the expiration or earlier termination of this Lease. Any
payment or refund made pursuant to this Subsection (e) shall be made without
prejudice to any right of Tenant to dispute, or of Landlord to correct, any
item(s) as billed pursuant to the provisions hereof so long as Tenant continues
to pay the amount as so estimated and billed.
Landlord covenants and agrees that Landlord will provide Tenant
with copies of any xxxx upon which any Real Property Taxes are based together
with the calculation used by Landlord in determining Tenant's Pro Rata Share
thereof.
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(h) Agreement to Pay. Tenant does hereby covenant and agree to
pay promptly the amounts computed pursuant to this Section 3 and otherwise
herein as additional rent ("Additional Rent") as and when the same shall become
due and payable, without demand therefor, and without any set-off or deduction
whatsoever.
(i) Costs and Expenses Deemed Rent. All costs and expenses which
Tenant assumes or agrees to pay to Landlord pursuant to this Lease shall be
deemed Additional Rent and, in the event of non-payment thereof, Landlord shall
have all the rights and remedies herein provided for in case of non-payment of
Rent (below defined).
(j) Rent. The Base Rent together with the Additional Rent
described in this Section 3 will be collectively referred to herein as Rent.
4. LEASEHOLD IMPROVEMENTS
Landlord shall make the leasehold improvements to the Premises
shown on the Plans and Specifications that have been approved by Landlord (the
"Work"). Landlord shall be responsible for the cost of the Work, up to THIRTY
and 00/100 DOLLARS ($30.00) per rentable square foot of the Premises, and Tenant
shall be responsible for all costs of completing the Work in excess of such
amount. Landlord and Tenant agree that all materials used in connection with the
Work shall be of a quality at least equal to the quality of materials in
Landlord's Building Standard Workletter, attached hereto as Exhibit "B." Within
ten (10) business days after receipt of the Plans and Specifications from
Tenant, and Landlord's approval thereof, Landlord shall provide Tenant with a
leasehold analysis of the cost to complete the Work based on the Plans and
Specifications. If the total cost to complete the Work as so determined exceeds
THIRTY and 00/100 DOLLARS ($30.00) per rentable square foot of the Premises,
then Tenant shall be obligated to pay to Landlord the amount of such excess,
which amount shall be paid upon the later to occur of (i) the Commencement Date
or (ii) ten (10) business days after Landlord's delivery of an invoice therefor
to Tenant. If the cost to complete the Work is less than $30.00 per rentable
square foot of the Premises, then Landlord shall apply any such excess to the
first monthly installment or installments of Base Rent due hereunder. In
addition to the foregoing, Landlord shall provide Tenant an allowance of SIX
THOUSAND DOLLARS ($6,000.00) to be used for the installation of showers and
locker rooms, it being understood that if Tenant does not elect to build the
showers and locker rooms, Tenant may apply such affluence to other build out
costs.
Landlord shall provide and install a back-up generator (the
"Generator") that will supply back-up power to the Premises, the portions of the
Building's HVAC system that are necessary to allow the Generator to operate
Tenant's HVAC system and the fire safety equipment only. Tenant shall provide
the reasonable specifications for the Generator to Landlord. Landlord shall bear
the cost of the Generator, including equipment, material and installation, up to
a total cost of One Hundred Forty Thousand Dollars ($140,000). If the total
cost, as outlined above, for such Generator exceeds $140,000, then Tenant shall
be responsible for such excess costs and shall pay any such amount to Landlord
within ten (10) business days after receipt of request therefor.
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Tenant covenants and agrees that upon expiration of the term of
this Lease, including any extension thereof, Tenant, at the election of
Landlord, will remove all tenant improvements other than those which are part of
the Building Standard Work, and return the Premises to Landlord in the same
condition as of the Commencement Date, except for reasonable wear and tear,
damage by the elements and occurrences pursuant to Sections 13 and 14 hereof.
Landlord agrees to exercise such election by notifying Tenant in writing 90 days
prior to the expiration of this Lease, or any extension terms, if extended.
5. SERVICES
Landlord shall provide the following services:
(a) Heat, ventilation and air conditioning. Heat,
ventilation and air-conditioning equipment needed for the comfortable
use and occupancy of the Premises as reasonably determined by Landlord
and as specified in paragraph J of the Building Standard Work Letter
attached hereto as Exhibit "B", throughout the term of this Lease and
any extension period hereof, at all times. With respect to the Meridian
Centre Common Areas in the Building, the above services will be provided
from 8:00 a.m. to 6:00 p.m. each Monday through Friday and from 8:00
a.m. to 1:00 p.m. each Saturday, excluding holidays. Landlord shall pay
for all gas used to provide heat. Tenant may operate the HVAC system in
its Premises 24 hours per day.
(b) Elevator service. The Passenger and freight elevator
shall be available at all times.
(c) Cleaning. Provided that Tenant shall keep the
Premises in good order, Landlord shall cause the Premises, including
those interior hallways, bathrooms and kitchen areas which are located
within the Premises, to be cleaned in accordance with the standards set
forth in Exhibit "C" annexed hereto and hereby made a part hereof.
Tenant agrees to reimburse Landlord for the costs incurred by Landlord
in so cleaning the Premises, together with Landlord's administrative
costs in regard thereto. The cost of such services (including the
administrative costs) shall initially be $.95 per square foot of Total
Rentable Area per year and Tenant shall pay such costs in equal monthly
installments at times for and together with the payments of Base Rent
(or on the first of any month during which an abatement of Base Rent is
in effect). In no event may Landlord increase the charge to Tenant per
square foot at any one time by an amount that would increase the total
cost to Tenant above the amount Tenant would be paying at that time if
Landlord had increased the charge therefor by 5% each year through such
date. The cost to Tenant shall be immediately increased by an amount
equal to any increase in the cost of cleaning services with respect to
the Premises billed to Landlord. Tenant shall also pay to Landlord,
within 15 days of billing, the costs incurred by Landlord for any
cleaning in or of the Premises in excess of that specified in Exhibit
"C" as well as for any additional cleaning requested by Tenant.
(d) Building Common Area Janitorial Services. Landlord
shall provide janitorial services with respect to the common areas of
the Building in accordance with the standards set forth in Exhibit "C"
annexed hereto and made a part
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hereof. In addition, Landlord shall be responsible for all snow removal
from the parking areas.
(e) Water. Landlord, at its expense, shall furnish
adequate hot and cold water for drinking, lavatory and toilet, and
ordinary cleaning purposes.
(f) Electrical energy. Landlord shall furnish and Tenant
shall reimburse Landlord as Additional Rent for the cost of all
electrical energy used by Tenant for heat, air-conditioning, light and
other services, and Landlord's administrative costs in regard thereto
(which administrative costs shall not exceed 5% of the actual cost
thereof), such costs estimated (but not guaranteed) to be $1.40 per
square foot of Total Rentable Area per year as of the date of this
Lease. Tenant shall reimburse Landlord monthly, at the times for and
together with the payments of Base Rent (or on the first of any month
during which an abatement of Base Rent is in effect) for the cost of
such electrical energy and administrative costs as estimated. Upon
request of Tenant, Landlord shall make its records related to
electricity billing available for inspection. Tenant's use of electrical
energy will be separately check-metered and actual usage will be
calculated by Landlord twice a year. Landlord agrees to refund Tenant
for any overpayments made by Tenant and Tenant agrees to reimburse
Landlord with the next monthly installment of Rent then due for any
shortage. Landlord will install and change light bulbs but the cost of
such bulbs shall be paid by Tenant.
(g) Access to Premises. Tenant shall have access to the
Building and the Premises 24 hours per day, 7 days per week, 52 weeks
per year unless such access is prevented by reasons beyond Landlord's
control or by the acts of Force Majeure as are described in Section 25
of this Lease.
(h) Additional work or services. Notwithstanding any
other provisions herein, should Tenant require any work or services in
addition to those described in Subsection (a) through (f) of this
Section 5, Landlord may upon reasonable advance request by Tenant
furnish such additional service and Tenant agrees to pay Landlord, with
the next monthly installment of Rent, such charges as may be agreed on
but in no event less than Landlord's actual cost plus overhead for the
additional services provided.
(i) Interruptions in Service. It is understood that
Landlord does not warrant that any of the services referred to above, or
any other services which Landlord may supply, will be free from
interruption. Tenant acknowledges that any one or more of such services
may be suspended by reason of accident or of repairs, alterations or
improvements necessary to be made, or by strikes or lockouts, or by
reason of operation of law, or causes beyond the reasonable control of
Landlord.
No such interruption of service shall be deemed an
eviction or disturbance of Tenant's use and possession of the Premises,
or any part thereof, or render Landlord liable to Tenant for damages by
abatement of Rent or otherwise, direct or consequential, nor shall any
such interruption relieve Tenant from performance by Tenant of its
obligations under this Lease; provided, however, that Landlord shall use
good faith efforts to restore any such failure that is within Landlord's
reasonable control as quickly
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as practicable; provided further, however, that if such service is
interrupted for any reason within Landlord's reasonable control and such
interruption shall continue for more than five (5) consecutive business
days after written notice of such interruption from Tenant to Landlord,
and if such interruption or failure shall render the Premises
untenantable, and if Tenant in fact does not use the Premises during the
period of such interruption, then all Base Rent payable hereunder shall
be abated for the period beginning on the sixth (6th) consecutive
business day of such interruption and such rental abatement shall
continue until the Premises is tenantable again or Tenant recommences
use or occupancy of the Premises, whichever occurs first.
6. WAIVER OF CERTAIN CLAIMS
Tenant, to the extent permitted by law, waives all claims it may
have against Landlord, and against Landlord's agents, employees and contractors
for damage to person or property sustained by Tenant or by any occupant of the
Premises, or by any other person, resulting from any part of the Property or
Meridian Centre Common Areas or any equipment or appurtenances becoming out of
repair, or resulting from any accident in or about the Property or Meridian
Centre Common Areas or resulting directly or indirectly from any act or neglect
of any tenant or occupant of any part of the Property or Meridian Centre Common
Areas or of any other person, except that this waiver shall not apply to damages
for injuries to person or property caused by or resulting from the negligence or
willful misconduct of Landlord, its agents, servants or employees, except to the
extent such loss is covered by insurance Tenant actually carries or is required
to carry, under this Lease. This waiver shall include not only direct damages
but also claims for consequential damages and any claims for abatement of Rent
due hereunder, it being intended that this waiver be absolute.
If any property damage results from any act or neglect of
Tenant, Landlord may at Landlord's option, repair such damage and Tenant shall
thereupon pay to Landlord so much of the total cost of such repair or
replacement as is not covered or paid to Landlord under Landlord's insurance
policy, including the amount of any deductible, as well as so much of the total
cost of such repair as exceeds any insurance proceeds Landlord receives in
respect of such damage.
Tenant agrees to defend and hold Landlord harmless and indemnify
against each and every claim and liability for injuries to any person or persons
and for damage to or loss of personal property occurring in or about the
Property or Meridian Centre Common Areas, to the extent due to any act of
negligence or default under this Lease by Tenant its contractors, agents or
employees (except that such indemnity shall exclude consequential or punitive
damages).
7. INSURANCE
(a) Fire and Hazard Insurance. Landlord shall at its expense,
procure and maintain during the term of this Lease and any extension period
hereof, fire and hazard insurance in an amount equal to the replacement value of
the Building (less footings, foundations and site work) and comprehensive public
liability insurance, and such insurance shall provide for a waiver of the
insurer's subrogation rights as against Tenant.
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(b) Public Liability Insurance, Contractual Liability Insurance
and Personal Property Insurance. Tenant shall, at its expense, procure and
maintain during the term of this Lease and any extension period hereof,
comprehensive public liability insurance, contractual liability insurance and
all risk personal property insurance under policies issued by insurers only
licensed to do business in the State of New York and being of recognized
responsibility with a Best rating of not less than A7. The public liability and
contractual liability insurance shall each have a single limitation of liability
of not less than $3,000,000 for personal injury, bodily injury, death, as well
as for damage or injury to or destruction of property (including the loss of use
thereof) for any one occurrence. The personal property insurance shall cover all
risks and be in an amount equal to the replacement value of the personal
property of Tenant located on the Property and Meridian Centre Common Areas.
Tenant shall maintain such insurance throughout the term of this Lease and any
extension hereof at that monetary value which the respective $3,000,000 and,
replacement value hereinabove stipulated represent as of the date of this Lease
(as determined by Tenant's insurer) and Tenant shall review the limits of its
policies annually to ensure that such monetary value is maintained each year.
Tenant's policies shall:
(i) Name Landlord, its agents, servants and employees as
additional insureds except in the case of the personal property
insurance where Tenant shall furnish Landlord with a waiver of
subrogation; and
(ii) Provide for 30 days' notice to Landlord prior to
any amendment, change, modification, lapse or cancellation of coverage.
Tenant shall furnish Landlord with a binder or a copy of the
policy of insurance with evidence of premium payment within 10 business days of
execution of this Lease showing the coverage, clauses and endorsements herein
required and thereafter Tenant shall use its best efforts to furnish such binder
or copy of the policy and evidence of premium payment to Landlord not less than
10 days prior to the expiration date of each such policy, but such items shall
in all events be delivered to Landlord within ten (10) business days after any
request therefor by Landlord.
Landlord and Tenant each hereby waive any and all right to
recover against the other (or against their respective officers, directors,
trustees, partners, joint venturers, employees or agents) for any loss or damage
to such waiving party arising from any cause covered by any insurance required
to be carried by such party pursuant to this Lease or, if greater, actually
covered by such party. Landlord and Tenant shall secure appropriate waivers of
subrogation from their respective insurance carriers; and each party will, upon
request, deliver to the other a certificate evidencing such waiver of
subrogation by the insurer.
8. HOLDING OVER
If Tenant fails to vacate the Premises at the expiration of this
Lease or any extension period thereof, if extended, then Tenant shall pay
Landlord Base Rent at double the monthly rate specified in Section 3 for the
time Tenant thus remains in possession and, in addition thereto, shall be
responsible for and reimburse Landlord for all direct damages sustained by
Landlord by reason of Tenant's retention of possession, including without
limitation costs or penalties incurred by Landlord under any subsequent lease
entered into by Landlord as a result of
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Landlord's inability to timely deliver such premises or meet its other
obligations to such tenant and any costs incurred by Landlord as a result of a
delay in Landlord's ability to lease the Premises. The provisions of this
Section do not exclude Landlord's rights of re-entry or any other right or
remedy of Landlord hereunder.
9. ASSIGNMENT AND SUBLETTING
The following provisions shall govern any desired subletting or
assignment by Tenant of all or part of the Premises:
(a) Prohibition. Tenant shall not, without Landlord's prior
written consent which shall not be unreasonably withheld or delayed: (a) assign,
convey, mortgage, pledge, encumber or otherwise transfer (voluntarily or
involuntarily) this Lease or any interest under it; (b) allow any transfer
thereof or any lien upon Tenant's interest by operation of law; (c) sublet the
Premises or any part thereof, or (d) permit the use or occupancy of the Premises
or any part thereof by any person or entity other than Tenant.
(b) Recapture. Notwithstanding anything herein to the contrary,
if at any time or from time to time during the term of this Lease or any
extension period hereof, Tenant desires to sublet or assign this Lease with
respect to all or part of the Premises, Tenant shall notify Landlord in writing
(hereinafter referred to in this Section as the "Notice") of the terms of the
proposed subletting or assignment and the area proposed to be sublet or covered
by the assignment and deliver to Landlord an executed copy of the proposed
sublease or assignment thereby giving Landlord the option to either (i) sublet
from Tenant such space (hereinafter referred to as "Sublet Space") at the same
Rent as Tenant is then required to pay to Landlord under this Lease for the same
space, in which event Tenant shall have no liability under this Lease with
respect to the Sublet Space during the term of such sublease by Landlord, or
(ii) terminate this Lease with respect to the Sublet Space in which case Tenant
shall be released from any further liability hereunder. If the Sublet Space does
not constitute the entire Premises and Landlord exercises its election to
terminate this Lease with respect to the Sublet Space, then, as to that portion
of the Premises which is not part of the Sublet Space, this Lease and the Rent
due from Tenant shall be reduced by a fraction, the numerator of which shall be
the rentable square feet of the Sublet Space and the denominator of which shall
be the rentable square feet of the Premises such fraction to be then multiplied
by the Rent then due to determine the amount of the reduction. The election to
either sublet or to terminate this Lease shall be exercisable by Landlord in
writing within a period of fifteen (15) days after receipt of the Notice and the
executed copy of the proposed sublease or assignment.
(c) Supremacy of Lease. In the event Landlord elects to sublet
the Sublet Space, the term of such subletting from Tenant to Landlord shall be
the term set forth in the Notice and such subletting shall be on such terms and
conditions as are contained in this Lease as the then current Rent, except that
Landlord shall have the right to further sublet the Sublet Space.
(d) Requirements. At the same time Tenant delivers the Notice to
Landlord, Tenant shall also submit to Landlord a proposed copy of the proposed
assignment or sublease and such information concerning the proposed assignment
or sublease and the proposed assignee or sublessee as may be reasonably
requested by Landlord for Landlord's review and approval
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which shall not be unreasonably withheld or delayed. The following shall,
however, be requirements for any approval by Landlord:
(i) The proposed subtenant or assignee must submit a
current financial statement to Landlord and must have a credit rating
satisfactory to Landlord, in Landlord's reasonable judgment;
(ii) The proposed subtenant or assignee must, in
Landlord's reasonable judgment, be financially responsible and of good
professional reputation as well as engaged in a business reasonably
compatible with the character of the business of other tenants in the
Building and Meridian Centre;
(iii) The sublease must by its terms be expressly
subject and subordinate to this Lease, must require that any subtenant
comply with and abide by all of the terms of this Lease, and must
provide that any termination of this Lease shall also extinguish the
sublease;
(iv) The proposed subtenant assignee may not be any
person or entity either then occupying space in Meridian Centre or one
with whom Landlord is then negotiating for space in Meridian Centre;
(v) Tenant may not then nor at the commencement of the
sublease be in default under this Lease beyond any applicable grace
period.
A fully executed counterpart of the assignment or sublease must
be delivered to Landlord within sixty (60) days after the date of Landlord's
approval or Landlord's approval of the proposed assignment or sublease shall be
deemed null and void and Tenant shall again comply with all the conditions of
this Section as if the Notice hereinabove referred to had not been given and
received.
(e) Review and Approval Costs. Tenant agrees to pay to Landlord,
on demand, the reasonable out-of-pocket costs incurred by Landlord in connection
with any request by Tenant for Landlord to consent to any assignment or
subletting by Tenant, including reasonable attorneys' fees.
(f) Deemed Assignment/Sublet. For purposes of this Section 9 the
following shall be deemed a prohibited assignment or sublease, as the case may
be:
(i) the transfer of more than fifty percent (50%) of the
outstanding capital stock of any corporate tenant or subtenant or any
increase in the amount of issued and/or outstanding shares of capital
stock and/or the creation of one or more additional classes of common
stock of any corporate tenant or subtenant with the result that the
beneficial and record ownership in and to such tenant or subtenant
changes by more than fifty percent (50%) from the beneficial and record
ownership as of the Commencement Date, or the transfer of more than
fifty percent (50%) of any partnership interest in Tenant or any
subtenant, if Tenant or subtenant is a partnership, however
accomplished, whether in a single transaction or in a series of related
or unrelated transactions;
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(ii) any agreement by any other person or entity
directly or indirectly, to assume Tenant's obligations under this Lease,
except as otherwise specifically permitted hereunder;
(iii) any transfer by operation of law or otherwise, of
Tenant's interest in this Lease; and
(iv) each modification, amendment or extension of any
sublease to which Landlord has previously consented shall be deemed a
new sublease.
Tenant agrees to furnish Landlord upon demand at any time, such
information and assurances as Landlord may reasonably request that neither
Tenant, nor any previously permitted subtenant, has violated the provisions of
this Section.
(g) Rights of Landlord Upon Subletting. If, with the consent of
Landlord, the Premises or any part thereof be sublet or occupied by anybody
other than Tenant, Landlord may, after default by Tenant, collect rent from the
subtenant or occupant, and apply the net amount collected to the Rent herein
reserved. If, without consent of Landlord, the Premises or any part thereof be
sublet or occupied, Landlord may collect rent from such subtenant or occupant
and apply the net amount collected to the Rent herein reserved but no such
subletting, occupancy or collection shall be deemed a waiver of any of Tenant's
covenants contained in this Lease or an acceptance by Landlord of the subtenant
or occupant as Tenant. In neither of the foregoing two circumstances shall
Tenant be relieved from its obligations under this Lease or from further
performance by Tenant of covenants on the part of Tenant herein contained.
(h) Rights of Landlord Upon Assignment. If, with the consent of
Landlord, this Lease or any interest herein is assigned by Tenant to a third
party assignee, such assignment shall not relieve Tenant of its obligations
hereunder and Landlord may, after default by the assignee in the payment of Rent
or in the performance of any other obligation of Tenant under this Lease, demand
and enforce performance of this Lease by Tenant-assignor including the payment
of Rent from Tenant-assignor to the fullest extent provided by this Lease and/or
the payment by Tenant-assignor of any direct damages sustained by Landlord.
(i) Transfer to Related Corporation. Notwithstanding anything
contained in this Section 9 to the contrary, and provided that no default has
occurred under this Lease, Tenant, upon prior written notice to Landlord but
without Landlord's prior written consent, may assign this Lease or sublease all
of the Premises to a corporation or other business entity (herein sometimes
referred to as a "related corporation") that shall control, be controlled by, or
be under common control with, Tenant, provided that (i) the related corporation
shall assume in writing all of the obligations and liabilities of Tenant under
this Lease, and (ii) such related corporation shall have a net worth and
liquidity at least equal to the net worth and liquidity of Tenant immediately
prior to the transfer. In the event of any such subletting or assignment, Tenant
shall remain fully liable as a primary obligor for the payment of rent and other
charges required hereunder and for the performance of any obligations to be
performed hereunder. For purposes of this paragraph, control shall be deemed to
be the ownership of more than fifty percent (50%) of the stock or other voting
interest of the controlled corporation or other business entity. Notwithstanding
any of the foregoing to the contrary, if Tenant structures a sublease or
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assignment hereunder such that the subtenant or assignee falls within the
definition of a related corporation primarily for the purpose of avoiding or
circumventing the restrictions on subleases and assignments provided elsewhere
in this Section 9, then any such sublessee or assignee shall be conclusively
deemed not to be a related corporation and shall be subject to the other
provisions of this Section 9.
10. CONDITION OF PREMISES
Subject only to such items as are set out on any punchlist
prepared by Landlord and Tenant, Tenant's taking possession of the Premises
shall be conclusive evidence as against Tenant that the Premises were in good
order and satisfactory condition when Tenant took possession. No promises of
Landlord to alter, remodel, repair or improve the Premises or the Building and
no representation respecting the condition of the Premises, the Building or the
Property have been made by Landlord to Tenant, other than as may be contained
herein.
At the expiration or earlier termination of this Lease, Tenant
shall return the Premises broom-clean and in as good condition as when Tenant
took possession, ordinary wear and tear, damage by the elements and loss by fire
or other casualty excepted, failing which Landlord may restore the Premises to
such condition and Tenant shall pay the cost thereof on demand.
11. USE OF PREMISES
Tenant agrees to comply with the following provisions regarding
the use of the Premises.
(a) Prohibition on Selling Activities. Tenant shall not exhibit,
sell or offer for sale on the Premises or in the Building any article or thing
without the advance consent of Landlord, but same shall not be deemed to
restrict Tenant's sale of commercial products as part of its business.
(b) Compliance with Law. Tenant will not make or permit to be
made any use of the Premises or any part thereof which would violate any of the
covenants, agreements, terms, provisions and conditions of this Lease or which
directly or indirectly is forbidden by public law, ordinance or governmental
regulation (including, without limitation, all environmental laws) or which may
be dangerous to life, limb, or property, or which may invalidate or increase the
premium cost of any policy of insurance carried on the Building, the Property or
covering its operation, or which will suffer or permit the Premises or any part
thereof to be used in any manner or anything to be brought into or kept therein
which, in the reasonable judgment of Landlord, would in any way impair or tend
to impair the character, reputation or appearance of the Property or of Meridian
Centre as a high quality office park, or which would impair or interfere with or
tend to impair or interfere with any of the services performed by Landlord for
the Property or Meridian Centre.
(c) Signs. Tenant shall not display, inscribe, print, paint,
maintain or affix on any place on the exterior or interior of the Building
(excepting only such part or parts of the Premises as is or are not visible from
outside the Building) nor on the Lot or any Common Area any decoration, sign,
notice, legend, direction, figure, or advertisement or window treatment,
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curtains or display materials except in or at such place or places, and then
only such name(s) and matter, and in such color, size, style, place and
materials, as shall first have been approved by Landlord in writing. Landlord,
at Landlord's expense, shall provide Tenant (i) with top billing on the existing
directory sign that lists the Building's tenants in front of the Building, and
(ii) with a directional sign in the parking area listing Tenant's name. Further,
Landlord, at no cost to Landlord, shall cooperate with efforts by Tenant to
obtain a sign along Xxxxxx Road, provided that all aspects of such sign are
approved by Landlord and provided further that in no event shall Tenant's
obligations hereunder be affected if Tenant is unable to obtain approval for
such sign.
(d) Advertising. Tenant shall not advertise the business,
profession or activities of Tenant conducted in the Building in any manner which
violates the letter or spirit of any code of ethics adopted by any recognized
association or organization pertaining to such business, profession or
activities and shall not use the name of the Building for any purposes other
than that of the business address of Tenant, and shall never use any picture or
likeness of the Building in any circulars, notices, advertisements or
correspondence without Landlord's consent, other than Tenant's promotional
materials for its own business.
(e) Locks. No additional locks or similar devices shall be
attached to any door or window without Landlord's prior written consent;
provided, however, that Tenant shall have the right to secure its computer room
(it being understood that Landlord shall have no liability if Landlord makes a
forced entry in an emergency, e.g., fire, hazard or other dangerous situation).
All keys and card passes must be returned to Landlord at the expiration or
termination of this Lease.
(f) Alterations. Tenant shall not make any alterations,
improvements, or additions of or to the Premises (collectively, "Alteration")
without Landlord's advance written consent in each and every instance, which
consent shall not be unreasonably withheld; provided, however, that Landlord
may, in its sole and absolute discretion, withhold its consent to any Alteration
that affects the structure of the Building or any of the Building's systems.
Notwithstanding the foregoing, Tenant may make minor non-structural,
non-permanent decorations (specifically excluding painting or carpeting) without
Landlord's prior consent. In the event Tenant desires to make any Alteration,
Tenant shall first submit to Landlord plans and specifications therefor and
obtain Landlord's written approval thereof prior to commencing any such work.
Any contractor hired by Tenant must be properly insured and, if required,
licensed. Each and every Alteration, whether temporary or permanent in
character, made by Landlord or Tenant in or upon the Premises shall become
Landlord's property and shall remain upon the Premises at the expiration or
earlier termination of this Lease without compensation to Tenant (excepting only
Tenant's movable office furniture, trade fixtures, office and professional
equipment) unless Landlord in writing requires Tenant to remove such Alteration
upon expiration of the term of this Lease or any extension period, if extended.
Landlord shall serve such writing upon Tenant regarding the removal of an
Alteration not later than ninety (90) days prior to the expiration of the term
of this Lease or extension period, if extended, and Tenant shall thereafter
remove such Alteration as herein required, repair any damage caused by such
removal and restore the Premises to the condition specified in Section 10 of
this Lease.
(g) After Hours Occupancy and Visitors. All persons entering or
leaving the Building after hours on Monday through Friday, or at any time on
Saturdays, Sundays and
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holidays, may be required to do so under such reasonable regulations as Landlord
may impose. Landlord may exclude or expel any peddler.
(h) Floor Plan. Tenant shall not overload any floor. Landlord
may direct the time and manner of delivery, routing and removal, and the
location, of safes and other heavy articles.
(i) Installation of Machinery; Prohibition Against Lodging.
Unless Landlord gives advance written consent, Tenant shall not install or
operate any steam or internal combustion engine, boiler, machinery,
refrigerating or heating device or air-conditioning apparatus in or about the
Premises (except as otherwise permitted in Section l5(c)), or carry on any
mechanical business therein, or use the Premises for housing accommodations or
lodging or sleeping purposes, or do any cooking therein except as otherwise
provided herein, or use any illumination other than electric light, or use or
permit to be brought into the Building any flammable fluids such as gasoline,
kerosene, naphtha, and benzene, or any explosives, radioactive materials or
other articles deemed extra hazardous to life, limb or property except in a
manner which would not violate any ordinance or regulation of the Town of
Brighton or any other applicable law or regulation. Tenant shall not use the
Premises for any illegal or immoral purpose.
(j) Energy Conservation. Tenant shall cooperate fully with
Landlord's reasonable requests in order to assure the effective operation of the
Building's air-conditioning system, including the closing of the venetian blinds
and drapes, and the keeping closed of any operable windows when the
air-conditioning system is in use. Tenant shall further comply with any
applicable federal laws, rules, ordinances or administrative enactments on
energy conservation, in office buildings.
(k) Contracts. Tenant shall not knowingly contract for any work
or service which might involve the employment of labor in violation of any
contract with the Building employees or employees of contractors doing the work
or performing services, by or on behalf of Landlord on an ongoing basis (full
time or part time but not ad hoc).
(l) Access. Except as otherwise expressly permitted in this
Lease, the Meridian Centre Common Area, sidewalks, halls, passages, exits,
entrances, and stairways shall not be obstructed by Tenant or used for any
purpose other than for ingress to and egress from its Premises. The common
areas, halls, passages, exits, entrances, elevators, stairways and roof are not
for the use of the general public and Landlord shall in all cases retain the
right to control and prevent access thereto by all persons whose presence, in
the judgment of Landlord, shall be prejudicial to the safety, character,
reputation and interests of the Property, the Building and its tenants, provided
that nothing herein contained shall be construed to prevent such access to
persons with whom Tenant normally deals in the ordinary course of Tenant's
business unless such persons are engaged in illegal activities. No Tenant and no
employees or invitees of Tenant shall go upon the roof or mechanical floors of
the Building.
(m) Nuisance. Tenant shall not use, keep or permit to be used or
kept any foul or noxious gas or substance in the Premises, or permit or suffer
the Premises to be occupied or used in a manner offensive or objectionable to
Landlord or other occupants of the Property or the
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Building by reason of noise, odors and/or vibrations, or interfere in any way
with other tenants or those having business therein, nor shall any animals or
birds be brought in or kept in or about the Premises of the Building or the
Property.
(n) Security and Electric Consumption. Tenant shall see that the
doors, and windows, if operable, of the Premises are closed and securely locked
before leaving the Building and must observe strict care and caution that all
water faucets or water apparatus are entirely shut off before Tenant or Tenant's
employees leave the Premises and that if required by law or regulation, all
electricity shall likewise be carefully shut off so as to prevent waste or
damage, and for any default or carelessness Tenant shall make good all injuries
and losses sustained by Landlord to the extent of any deductibles and such
excess costs as are not paid or covered under Landlord's or Tenant's insurance
and as are sustained by Landlord as a result, in whole or in part, from Tenant's
negligence.
In addition to any liability for breach of any covenant of this
Section, Tenant shall pay to Landlord an amount equal to any increase in
insurance premiums payable by Landlord, caused by such breach, default or
carelessness on the part of Tenant.
(o) Environmental Laws.
(i) Tenant covenants and agrees as follows:
(a) Tenant shall keep the Premises and the
Property free of all Hazardous Substances caused by Tenant or its employees,
agents, contractors or invitees, and shall promptly remove from the Premises and
the Property and shall dispose of all Hazardous Substances by-products in
compliance with all applicable Environmental Laws, and shall not permit the
Premises to be used for the storage, treatment, generation, transportation,
processing, handling, production or disposal of any Hazardous Substances.
(b) Tenant shall comply with all applicable
Environmental Laws and shall obtain and comply with all Environmental Permits.
(c) Tenant shall promptly provide Landlord with
a copy of all notifications of any Release or the threat of a Release on, at or
from the Premises given by or on behalf of Tenant to any federal, state or local
governmental agencies or authorities or received by or on behalf of Tenant from
any source whatsoever.
(d) Tenant shall undertake and complete all
investigations, studies, sampling and testing and all removal and other remedial
actions necessary to contain, remove and clean up all Hazardous Substances that
are determined to be present at the Premises and caused by Tenant, or its
employees, agents, contractors or invitees in accordance with all applicable
Environmental Laws and all Environmental Permits.
(e) Tenant shall at all times allow Landlord and
Landlord's lenders and their officers, employees, agents, representatives,
contractors and subcontractors, reasonable access to the Premises (upon
reasonable prior notice, except in cases of emergency) for the purpose of
ascertaining site conditions, including, but not limited to, subsurface
conditions, provided, however that any such entity to which access is so allowed
shall not
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unreasonably interfere with or disrupt Tenant's use of the Premises and shall
restore any damage to the Premises caused by their access and inspection.
(f) If at any time Tenant obtains any evidence
or information which suggests that potential environmental problems may exist at
the Premises, Landlord may require that a full or supplemental environmental
inspection and audit report with respect to the Premises of a scope and level of
detail satisfactory to Landlord be prepared by an environmental engineer or
other qualified person acceptable to Landlord, and same shall be at Tenant's
sole cost and expense if it is determined there is an environmental problem
caused by Tenant, its employees, agents, contractors or invitees. If said audit
report indicates the presence of any Hazardous Substance or a Release or the
threat of a Release on, at or from the Premises caused by Tenant, its employees,
agents, contractors or invitees, Tenant shall promptly undertake and diligently
pursue to completion all necessary, appropriate and legally authorized
investigative, containment, removal, clean up and other remedial action, using
methods recommended by the environmental engineer or other person who prepared
said audit report and acceptable to the appropriate federal, state and local
regulatory authorities.
(ii) Tenant covenants and agrees, at its sole cost and
expense, to indemnify, protect, defend and save harmless Landlord from and
against any and all damages, losses, liabilities, obligations, penalties,
claims, litigation, demands, defenses, judgments, suits, actions, proceedings,
costs, disbursements and/or expenses (including, without limitation, attorneys'
and experts' fees, expenses and disbursements) of any kind or nature whatsoever
which may at any time be imposed upon, incurred by or asserted or awarded
against Landlord relating to, resulting from or arising out of (i) the use of
the Premises by Tenant, its employees, agents, contractors or invitees for the
storage, treatment, generation, transportation, processing, handling, production
or disposal of any Hazardous Substance or for the storage of petroleum or
petroleum based products, (ii) the presence of any Hazardous Substance or a
Release or the threat of a Release on, at or from the Premises caused by Tenant,
its employees, agents, contractors or invitees, (iii) the failure by Tenant, its
employees, agents, contractors or invitees to promptly undertake and diligently
pursue to completion all necessary, appropriate and legally authorized
investigative, containment, removal, clean up and other remedial actions with
respect to a Release or the threat of a Release on, at or from the Premises;
(iv) human exposure to any Hazardous Substance, noises, vibrations or nuisances
of whatever kind to the extent the same are caused by Tenant, its employees,
agents, contractors or invitees, (v) a violation of any applicable Environmental
Law by Tenant, its employees, agents, contractors or invitees, (vi)
non-compliance with any Environmental Permit caused by Tenant, its employees,
agents, contractors or invitees or (vii) a material misrepresentation or
inaccuracy in any representation or warranty or a material breach of or failure
to perform any covenant made by Tenant in this Lease.
(iii) All capitalized terms used in this Section and not
heretofore defined shall have the meanings set forth below.
"Environmental Laws" means all federal, state and local
environmental, land use, zoning, health, chemical use, safety and sanitation
laws, statutes, ordinances and codes relating to the protection of the
Environment and/or governing the use, storage, treatment, generation,
transportation, processing, handling, production or disposal of Hazardous
Substances and the
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rules, regulations, policies, guidelines, interpretations, decisions, orders and
directives of federal, state and local governmental agencies and authorities
with respect thereto.
"Environmental Permits" means all permits, licenses, approvals,
authorizations, consents or registrations required by an applicable
Environmental Law in connection with the ownership, use and/or operation of the
Premises for the storage, treatment, generation, transportation, processing,
handling, production or disposal of Hazardous Substances or the sale, transfer
or conveyance of the Premises.
"Hazardous Substance" means, without limitation, any flammable
explosives, radon, radioactive materials, asbestos, urea formaldehyde foam
insulation, polychlorinated biphenyls, petroleum and petroleum products,
methane, hazardous materials, hazardous wastes, hazardous or toxic substances or
related materials, as defined in the Comprehensive Environmental Response,
Compensation and Liability Act of 1980, as amended (42 U.S.C. Sections 9601, et
seq.), the Hazardous Materials Transportation Act, as amended (49 U.S.C.
Sections 1801, et seq.), the Resource Conservation and Recovery Act, as amended
(42 U.S.C. Sections 6901, et seq.), the Toxic Substances Control Act, as amended
(15 U.S.C. Sections 2601, et seq.) Articles 15 and 27 of the New York State
Environmental Conservation Law or any other applicable Environmental Law and the
regulations promulgated thereunder.
"Release" has the same meaning as given to that term in the
Comprehensive Environmental Response, Compensation and Liability Act of 1980, as
amended (42 U.S.C. Section 9601, et seq.), and the regulations promulgated
thereunder.
(iv) Landlord represents that it has no knowledge of any
violation of any Environmental Laws or Environmental Permits affecting the
Premises. Landlord covenants and agrees, at its sole cost and expense, to
indemnify, protect, defend and save harmless Tenant from and against any and all
damages, losses, liabilities, obligations, penalties, claims, litigation,
demands, defenses, judgments, suits, actions, proceedings, costs, disbursements
and/or expenses (including, without limitation, attorneys' and experts' fees,
expenses and disbursements) of any kind or nature whatsoever which may at any
time be imposed upon, incurred by or asserted or awarded against Tenant relating
to, resulting from or arising out of any Hazardous Substances that existed on
the Property prior to Tenant's occupancy of the Premises or that are brought
onto the Premises by Landlord or its agents, employees or contractors in
violation of then existing Environmental Law. In confirmation of the foregoing,
it is specifically understood that Tenant shall have no liability with respect
to any Hazardous Substances that existed on the Property prior to Tenant's
occupancy of the Premises.
12. REPAIRS
Tenant shall give to Landlord prompt written notice of any
damage to, or defective condition in the Building structure or in any part or
appurtenance of the Building's plumbing, electrical, heating, air-conditioning,
ventilation, sprinkler, elevator or other systems serving, located in, or
passing through the Premises. Subject to the provisions of this Section 12,
Tenant shall, at Tenant's own expense, keep the Premises in good order,
condition and repair during the term, except that Landlord, at Landlord's
expense (unless caused by the fault or negligence of Tenant, its contractors,
agents, or employees in which case Tenant shall pay
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Landlord for any deductible and any cost which either exceeds insurance proceeds
Landlord receives or which is not covered under Landlord's insurance policy in
respect of such damage) shall keep in repair (and promptly repair if necessary)
and maintain the exterior of the Building, the structure of the Building, the
Meridian Centre Common Areas (including the parking lot), the electrical,
heating, air-conditioning, ventilation, sprinkler, elevator or other systems
serving, located in or passing through the Premises, plumbing fixtures located
in the Building (except those installed by Tenant with Landlord's approval),
outside walls, including windows, loadbearing walls (except as to surface damage
done by or attributable to Tenant) and doors and roof.
Tenant, at Tenant's expense, shall comply with all laws and
ordinances, and all rules and regulations of all governmental authorities and of
all insurance bodies at any time in force, applicable to the Premises or to
Tenant's use thereof, except that Tenant shall not hereby be under any
obligation to comply with any law, ordinance, rule or regulation requiring any
structural alteration of or in connection with the Premises, unless such
alteration is required by reason of a condition which has been created by, or at
the instance of, Tenant, or is required by reason of a breach of any of Tenant's
covenants and agreements hereunder. Landlord shall not be required to repair any
injury or damage by fire or other cause, or to make any repairs or replacements
of any panels, decoration, office fixtures, railing, ceiling, floor covering,
partitions, or any other property installed in the Premises by Tenant unless
such injury or damage is a direct result of negligence or willful misconduct on
the part of Landlord or its contractors, agents or employees, and Tenant is not
reimbursed for such injury or damage from insurance proceeds.
13. DESTRUCTION OF PREMISES
If the Premises shall be partially damaged by fire or other
causes the damage shall be repaired by and at the expense of Landlord and unless
the damage is caused by the fault or neglect of Tenant, Tenant's servants,
employees, agents, visitors or licensees, a portion of the Rent, until such
repairs shall be made, shall be abated and such abated portion shall be equal to
the product of the rent then due multiplied by a fraction, the numerator of
which shall be the number of square feet of the Premises which is not usable and
in fact is not used by Tenant and the denominator of which shall be the number
of square feet of the entire Premises: provided, however, that if any such
casualty shall destroy the communications area of the Premises and Tenant
actually does not use or occupy any portion of the Premises, then the entire
Base Rent shall be abated for such period. During any period that the Premises
are unusable as a result of any such damage, Landlord, at no cost to Landlord,
shall make reasonable efforts to assist Tenant in its efforts to locate
temporary premises. In the event, however, that such partial damage is due to
the fault of Tenant, Tenant's servants, employees, agents, visitors or
licensees, the damage shall be repaired by Tenant, there shall be no
apportionment or abatement of Rent and Tenant shall pay the costs of such
repairs to the extent that no insurance proceeds or insufficient insurance
proceeds (including any deductible) are received by Landlord for such damage.
Landlord may, however, elect to make such repairs, if in its judgment it is more
practical and expeditious to do so, and charge Tenant with the above mentioned
costs. No penalty shall accrue for delays which may arise through adjustment of
insurance or for delays on account of any cause beyond Landlord's reasonable
control.
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If more than 50% of the Premises is totally damaged or rendered
wholly untenantable by fire or any other cause, Landlord shall within sixty (60)
days of the date of such damage, decide whether or not to restore the Premises,
and give Tenant notice in writing of such decision within such period. If
Landlord elects not to restore the Premises or fails to give such written notice
to Tenant within the 60-day period above mentioned the term of this Lease shall
cease, terminate and expire upon such 60th day and Tenant shall vacate the
Premises and surrender the same to Landlord. Upon termination of this Lease,
under the conditions herein provided, Tenant's liability for rent shall cease
and be adjusted as of the day following the casualty. Tenant hereby expressly
waives the provisions of Section 227 of the Real Property Law and agrees that
the foregoing provisions shall govern and control in lieu thereof.
If, however, Landlord elects to restore the Premises and gives
notice to Tenant to such effect within the 60-day period above mentioned, then
Landlord shall have a period of up to 180 days from the date of notification by
Landlord to Tenant within which to restore the Premises to as feasibly near a
condition to that which existed prior to the damage excluding only non-Building
Standard Work or special improvements made by Tenant to the Premises. Such
180-day period shall be extended on a day-by-day basis for each day beyond the
60-day period above mentioned that Landlord does not receive the full insurance
proceeds for the damage sustained.
The obligation of Landlord under this Section 13 shall be
expressly subject to Section 25 on Force Majeure.
14. CONDEMNATION
If the Premises or any part thereof shall be taken by any public
or private authority through condemnation or eminent domain, Landlord shall
immediately notify Tenant in writing.
If such taking reduces the Premises by more than 25% (whether by
a single taking or a series of takings) either party may terminate this Lease at
any time by written notice to the other to be given within ninety (90) days of
the date of the taking. Should Tenant or Landlord elect not to terminate this
Lease, the Rent shall be reduced from and after such taking to an amount to be
determined by multiplying the Rent which would otherwise have been due by a
fraction of which the numerator shall be the number of square feet of the
remaining portion of the Premises, and the denominator the number of square feet
of the entire Premises.
In the event this Lease is not terminated as above provided,
Landlord covenants and agrees to restore and secure said Premises within 180
days of the expiration of the 90-day period above referred to.
Whether this Lease is terminated or not, Landlord shall be
entitled to all the proceeds of the condemnation award with respect to the value
of the Building and/or Lot taken, and Tenant shall have no claim against
Landlord or the condemning authority for any unexpired term of this Lease nor
for any other leasehold interests. Tenant's only claims shall be for moving
expenses and trade fixtures.
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15. CERTAIN RIGHTS RESERVED TO LANDLORD
Landlord reserves the following rights:
(a) To name the Building or the Property and, upon 60 days prior
notice to Tenant, to change the name or street address of the Building or
Meridian Centre.
(b) To install and maintain a sign or signs on the exterior or
interior of the Building or on the Lot provided any such sign or signs will not
be located in the Premises except as may be required by law, regulation or
administrative enactment.
(c) To designate all sources furnishing sign painting and
lettering, tap water, services affecting the structure of the Building or the
Building's systems, and like services used on the Premises or in the Building.
Notwithstanding the foregoing and notwithstanding any prohibition elsewhere in
this Lease on cooking in the Premises, Tenant may install and use coffee
machines, vending machines, refrigerators, stoves and microwave ovens for use by
employees so long as the same are not prohibited under local, state or federal
law.
(d) To take possession of the Premises, during the last 90 days
of the term if Tenant has then vacated the Premises and prepare the same for
occupancy by another tenant or tenants.
(e) To constantly have pass keys to the Premises. Upon request
by Tenant, Landlord will notify Tenant of the individual responsible for the
keys.
(f) On reasonable prior notice to Tenant, to exhibit the
Premises to prospective tenants and to any prospective purchaser, mortgagee, or
assignee of any mortgage on the Property and to others having a legitimate
interest during the term or any extension period hereof, if extended, provided
that Landlord shall make reasonable efforts to minimize interference with
Tenant's business operations.
(g) At any time and without notice in the event of an emergency,
and otherwise upon reasonable notice and at reasonable times, to take any and
all measures, including inspections, repairs, alterations, additions and
improvements to the Premises, the Building or to the Property, as may be
necessary or desirable for the safety, protection or preservation of the
Premises, the Building or the Property or Landlord's interests, or as may be
necessary or desirable in the operation or improvement of the Premises, the
Building or the Property or in order to comply with all laws, orders and
requirements of governmental or other authority.
16. LANDLORD'S REMEDIES
All rights and remedies of Landlord herein enumerated shall be
cumulative, and none shall exclude any other right or remedy allowed by law. In
addition to the other remedies in this Lease provided, Landlord shall be
entitled to the restraint by injunction of any violation or attempted material
violation of any of the covenants, agreements or conditions of this Lease.
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(a) Bankruptcy; Re-organization. If Tenant shall (i) apply for
or consent to the appointment of a receiver, trustee or liquidator of Tenant or
of all or a substantial part of its assets, (ii) admit in writing its inability
to pay its debts as they come due, (iii) make a general assignment for the
benefit of creditors, (iv) file a petition or an answer seeking reorganization
or arrangement with creditors or to take advantage of any insolvency law other
than the federal Bankruptcy Code, or (v) file an answer admitting the material
allegations of a petition filed against Tenant in any reorganization or
insolvency proceeding, other than a proceeding commenced pursuant to the federal
Bankruptcy Code, or if any order, judgment or decree shall be entered by any
court of competent jurisdiction, except for a bankruptcy court or a federal
court sitting as a bankruptcy court, adjudicating Tenant insolvent or approving
a petition seeking reorganization of Tenant or appointing a receiver, trustee or
liquidator of Tenant or of all or a substantial part of its assets, and Tenant
is unable to restore its financial position, stay any Bankruptcy proceeding or
cure any of the aforementioned events of default within 60 days after such
occurrence, then, in any such event and upon the passage of 60 days thereafter,
Landlord may give to Tenant a notice of intention to end the term of this Lease
specifying a day not earlier than ten (10) business days thereafter, and upon
the giving of such notice the term of this Lease and all right, title and
interest of Tenant hereunder shall expire as fully and completely on the day so
specified as if that day were the date herein specifically fixed for the
expiration of the term.
(b) Default in Tenant Obligations. If Tenant defaults in the
payment of Rent and such default continues for 10 days after written notice, or
defaults in the prompt and full performance of any other provision of this Lease
and such default continues for 30 days after written notice, or if such default
cannot be cured within 30 days, Tenant does not commence to cure such default
within 30 days and diligently pursue the same to completion thereafter, or if
the leasehold interest of Tenant be levied upon under execution or be attached
by process of law and such levy or attachment is not removed within 30 days
thereafter, or if Tenant abandons the Premises and ceases to pay Rent hereunder
for a period in excess of 30 days, then and in any such event Landlord may, at
its election, either terminate this Lease and Tenant's right to possession of
the Premises or, without terminating this Lease, endeavor to relet the Premises.
Nothing herein shall be construed so as to relieve Tenant of any obligation,
including the payment of Rent, as provided in this Lease.
(c) Surrender of Possession; Landlord's Right to Re-Enter. Upon
any termination of this Lease, Tenant shall surrender possession and vacate the
Premises immediately, and deliver possession thereof to Landlord, and hereby
grants to Landlord full and free license to enter into and upon the Premises to
repossess Tenant of the Premises as of Landlord's former estate and to expel or
remove Tenant and any others who may be occupying or within the Premises and to
remove any and all property therefrom, using such force as may be necessary,
without being deemed in any manner guilty of trespass, eviction or forcible
entry or detainer, and without relinquishing Landlord's right to Rent or any
other right given to Landlord hereunder or by operation of law.
(d) Re-Letting. If, pursuant to the provisions of this Lease,
Landlord becomes entitled to elect, and Landlord does elect, without terminating
this Lease, to endeavor to relet the Premises, Landlord may, at Landlord's
option, enter into the Premises, remove Tenant's signs and other evidence of
tenancy, and take and hold possession thereof as in subsection (c) of this
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section provided, without such entry and possession terminating this Lease or
releasing Tenant, in whole or in part, from Tenant's obligation to pay the Rent
hereunder for the full term as hereinafter provided. Upon and after entry into
possession without termination of this Lease, Landlord may relet the Premises or
any part thereof for the account of Tenant to any person, firm or corporation
other than Tenant for such rent, for such time and upon such terms as Landlord
shall determine to be reasonable. In any such case, Landlord may make repairs,
alterations and additions in or to the Premises, and redecorate the same to the
extent deemed by Landlord reasonably necessary or desirable, and Tenant shall,
upon demand, pay the reasonable cost thereof, together with Landlord's
reasonable expenses of the reletting. If the consideration collected by Landlord
upon any such reletting for Tenant's account is not sufficient to pay monthly
the full amount of the Rent reserved in this Lease, together with the cost of
repairs, alterations, additions, redecorating and Landlord's expenses, Tenant
shall pay to Landlord the amount of each monthly deficiency upon demand.
(e) Damages and Acceleration. If Landlord elects to terminate
this Lease for any of the reasons specified in this Section 16, it being
understood that Landlord may elect to terminate this Lease after and
notwithstanding its election to terminate Tenant's right to possession as in
subsection (b) of this Section 16, provided Landlord shall forthwith upon such
termination be entitled to recover as damages, and not as a penalty, an amount
equal to the then present value of the Rent provided in this Lease for the
residue of the stated term hereof, less the present value of the fair rental
value of the Premises for the residue of the stated term. The discount rate used
to calculate present value shall be 10%.
(f) Tenant's Personal Property. Any and all property which may
be removed from the Premises by Landlord pursuant to the authority of this Lease
or of law, to which Tenant is or may be entitled, may be handled, removed or
stored by Landlord at the risk, cost and expense of Tenant, and Landlord shall
in no event be responsible for the value, presentation or safekeeping thereof.
Tenant shall pay to Landlord, upon demand, any and all expenses incurred in such
removal and all storage charges against such property. Any such property of
Tenant not removed from the Premises or retaken from storage by Tenant within
thirty (30) days after the end of the term or of Tenant's right to possession of
the Premises, however terminated, shall be conclusively deemed to have been
forever abandoned by Tenant and either may be retained by Landlord as its
property or may be disposed of in such manner as Landlord may see fit.
(g) Landlord's Right to Perform Tenant's Obligations. Tenant
agrees that if it shall at any time fail to make any payment or perform any
other act on its part to be made or performed under this Lease, Landlord may,
but shall not be obligated to, and after reasonable notice or demand and, except
in cases of emergency, 10 days opportunity to cure and without waiving, or
releasing Tenant from, any obligation under this Lease, make such payment or
perform such other act to the extent Landlord may deem desirable, and in
connection therewith, Landlord may pay expenses and employ counsel. If legal
action is required to enforce performance by Tenant of any condition, obligation
or requirement hereunder, the costs of any such action including attorneys' fees
will be paid solely by the party not prevailing in such action. All sums so paid
by Landlord and all expenses in connection therewith, together with interest
thereon at the maximum rate permitted by law from the date of payment shall be
deemed Additional Rent hereunder and payable at the time of any installment of
Rent thereafter
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becoming due and Landlord shall have the same rights and remedies for the
non-payment thereof, or of any other Additional Rent, as in the case of default
in the payment of Rent.
17. LATE CHARGE
A late charge shall be due and owing on any installment of Rent
not received by Landlord by the fifth (5th) business day of the calendar month
in which due and on any monetary obligation of Tenant or charge due from Tenant
not paid by Tenant when due. Such late charge shall equal four percent (4%) of
the then unpaid monthly Rent, shall be billed by Landlord to Tenant with the
Rent for the calendar month next following and shall be paid by Tenant together
with the Rent due for such month.
18. SUBORDINATION OF LEASE
The rights of Tenant under this Lease shall be and are subject
and subordinate at all times to all ground leases, and/or underlying leases, if
any, now or hereafter in force against the Property, and to the lien of any
mortgage or mortgages now or hereafter in force against such leases and/or the
Property, and to all advances made or hereafter to be made upon the security
thereof, and to all renewals, modifications, consolidations, replacements and
extensions thereof. This Section is self-operative and no further instrument of
subordination shall be required. In confirmation of such subordination, however,
Tenant shall promptly execute such further instruments as may be requested by
Landlord. Tenant, at the option of any mortgagee, agrees to attorn to such
mortgagee in the event of a foreclosure sale or deed in lieu thereof. Upon
request by Tenant, Landlord shall make reasonable efforts to assist Tenant in
obtaining a non-disturbance agreement from any holder of a mortgage against the
Building.
19. NOTICES AND CONSENTS
All notices, demands, requests, consents or approvals
(collectively, "Notice") which may or are required to be given by either party
to the other shall be in writing and shall be deemed given when actually
delivered or the date delivery is rejected. All notices shall be sent by United
States Certified or Registered Mail, postage prepaid return receipt requested,
delivered by hand, or delivered by reputable courier providing written receipt
of delivery.
Such Notice shall be mailed or delivered as follows:
(a) if to Tenant: (until the Commencement Date, thereafter such Notice shall
be mailed or delivered to Tenant at the premises)
Genencor International, Inc.
0 Xxxxxxxxx Xxxxx
0000 Xxxxx Xxxxxx Xxxx
Xxxxxxxxx, Xxx Xxxx 00000
Attention: Site Manager
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with a copy to:
Genencor International, Inc.
0 Xxxxxxxxx Xxxxx
0000 Xxxxx Xxxxxx Xxxx
Xxxxxxxxx, Xxx Xxxx 00000
Attention: Legal Department
(b) if to Landlord:
Meridian Centre Associates, L.P.
c/o Natapow Management Group, Agent
000 Xxxxxxxxx Xxxxx, Xxxxx 000
Xxxxxxxxx, Xxx Xxxx 00000
Attention: Lease Administration
with a copy to:
Xxxxx, Oviatt, Gilman, Xxxxxxx & Xxxxxx LLP
000 Xxxxxxxxxx Xxxxxxxx
0 Xxxxx Xxxxxx
Xxxxxxxxx, Xxx Xxxx 00000
Attention: Xxxxxxxx X. Xxxxxxx, Esq.
The parties may by written notice to the other designate a
different person or entity to receive notices hereunder and/or a different
address or addresses. If the term Tenant as used in this Lease refers to more
than one person any Notice given as aforesaid to any one of such persons shall
be deemed to have been duly given to Tenant.
20. NO ESTATE IN LAND
This contract and Lease shall create the relationship of
landlord and tenant between Landlord and Tenant; no estate shall pass out of
Landlord; and Tenant has only a usufruct which is not subject to levy and sale.
21. INVALIDITY OF PARTICULAR PROVISIONS
If any clause or provision of this Lease is or becomes illegal,
invalid, or unenforceable because of present or future laws or any rule or
regulation of any governmental body or entity, effective during its term, the
intention of the parties hereto is that the remaining parts of this Lease shall
not be affected thereby unless such invalidity is essential to the rights of
either party in which event Landlord shall have the right to terminate this
Lease on written notice to Tenant.
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22. WAIVER OF TRIAL BY JURY
It is mutually agreed by and between Landlord and Tenant that
the respective parties hereto shall and they hereby do waive trial by jury in
any action, proceeding or counterclaim brought by either of the parties hereto
against the other on any matters whatsoever arising out of or in any way
connected with this Lease, the relationship of Landlord and Tenant, Tenant's use
or occupancy of the Premises, and any emergency statutory or any other statutory
remedy.
23. MISCELLANEOUS TAXES
Tenant shall pay prior to delinquency all taxes assessed against
or levied upon its occupancy of the Premises, or upon the fixtures, furnishings,
equipment and all other personal property of Tenant located in the Premises
other than those furnished and paid for by Landlord, if nonpayment thereof shall
give rise to a lien on the real estate, and when possible Tenant shall cause
said fixtures, furnishings, equipment and other personal property to be assessed
and billed separately from the property of Landlord. In the event any or all of
Tenant's fixtures, furnishings, equipment and other personal property, or upon
Tenant's occupancy of the Premises, shall be assessed and taxed with the
property of Landlord, Tenant shall pay to Landlord its share of such taxes
within ten (10) days after delivery to Tenant by Landlord of a statement in
writing setting forth the amount of such taxes applicable to Tenant's occupancy
or fixtures, furnishings, equipment or personal property. Landlord shall pay any
and all Real Estate Taxes assessed and levied against Meridian Centre, in each
case prior to the respective delinquency dates thereof. If such taxes may be
paid in installments, Landlord shall have the right to do so.
24. BROKERAGE
Tenant and Landlord represent and warrant that they have dealt
with no broker, agent or other real estate sales person in connection with this
Lease other than Natapow Realty Corporation, as exclusive broker to Landlord,
and Pyramid Brokerage Company, as cooperating broker, and that, other than as
herein expressly set forth, no broker, agent or such other person brought about
this transaction. Landlord shall be responsible for the commission due Natapow
Realty Corporation and Natapow Realty Corporation shall be responsible for the
commission due to Pyramid Brokerage Company, pursuant to separate agreements.
Tenant and Landlord agree to indemnify and hold each other harmless from and
against any claims by any broker, agent or other real estate sales person
claiming a commission or other form of compensation by virtue of this Lease or
of having dealt with Tenant or Landlord with regard to this leasing transaction
and should a claim for such commission or other compensation be made it shall be
promptly paid or bonded by the party who has dealt with the person or entity
making such claim. The provisions of this Section shall survive the termination
of this Lease.
25. FORCE MAJEURE
Except as otherwise provided in this Lease and except as to the
payment of Rent or other monies due under this Lease neither party shall be
responsible for delays or inability to perform its obligations hereunder for
causes beyond the control of such party including acts of
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other tenants, governmental restriction, regulation or control, labor dispute,
accident, mechanical breakdown, shortages or inability to obtain labor, fuel,
steam, water, electricity or materials, acts of God, enemy action, civil
commotion, or fire or other casualty, but only for as long as such delay
continues.
26. PARKING
Landlord shall provide Tenant, at no cost, with non-reserved
parking spaces available, however, on a first-come, first-served basis. In
addition, Landlord shall designate at least twenty (20) parking spaces as
visitor spaces.
27. REPETITIVE DEFAULTS
In the event Tenant shall default (i) more than three times in
any twelve month period by failing to pay Rent on or before the 5th business day
of the month when due or (ii) more than three times in any six month period in
the performance of any of its other obligations under this Lease, then,
notwithstanding that such defaults shall have each been cured within the
applicable grace period, Tenant shall no longer be entitled to any written
notice and grace period for a subsequent default but such default shall be
deemed deliberate and Landlord may thereafter enforce this Lease at law and/or
in equity.
28. DIRECTORY AND SIGNAGE
Tenant shall have the right to have its name and suite number
listed in the lobby directory, if any, located in the lobby of the Building and
in the directory, if any, to be placed on the exterior monument in front of the
Building. All such listings shall be in such size, lettering, color and form as
are prescribed by Landlord from time to time. Upon request by Tenant and at
Tenant's sole cost, Landlord shall change Tenant's listing in the directory.
29. SPECIAL STIPULATIONS
(a) No receipt of money by Landlord from Tenant after the
termination of this Lease or after the service of any notice or after the
commencement of any suit or after final judgment for possession of the Premises
shall reinstate, continue or extend the term of this Lease or affect any such
notice, demand or suit or imply consent for any action for which Landlord's
consent is required.
(b) No waiver of any default of Tenant or of Landlord hereunder
shall be implied from any omission by Landlord or Tenant, as the case may be, to
take any action on account of such default if such default persists or be
repeated, and no express waiver shall affect any default other than the default
specified in the express waiver and that only for the time and to the extent
therein stated.
(c) The term "Landlord" as used in this lease, so far as
covenants or agreements on the part of Landlord are concerned, shall be limited
to mean and include only the owner or owners of Landlord's interest in this
Lease at the time in question, and in the event of any transfer or transfers of
such interest Landlord herein named (and in case of any subsequent transfer, the
then transferor) shall be automatically freed and relieved from and after the
date of
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such transfer of all personal liability from events which occur after the date
of transfer. Any such release of Landlord under this section shall become
effective only at such time as Landlord's transferee is deemed to be bound to
the terms and provisions of this Lease. It is understood, however, that Landlord
shall reimburse Tenant for any overpayments of Rent made by Tenant prior to the
assignment and any prepayment of Rent for months subsequent to the assignment.
(d) It is understood that Landlord may occupy portions of the
Building in the conduct of Landlord's business. In such event, all references
herein to other tenants of the Building shall be deemed to include Landlord as
an occupant.
(e) Tenant hereby expressly waives any and all rights of
redemption granted by or under any present or future laws in the event of Tenant
being dispossessed or removed from the Premises because of default by Tenant
pursuant to the covenants or agreements contained in this Lease.
(f) Tenant specifically agrees to look solely to Landlord's
equity interest in the Property for recovery of any judgment against Landlord.
There shall be absolutely no personal liability of persons, partnerships, firms,
corporations or other entities who at any time constitute the Landlord with
respect to any of the terms, covenants, conditions and provisions of this Lease.
In addition, there shall be no personal liability hereunder to Tenant's
shareholders.
(g) The parties acknowledge that each party and its respective
counsel have reviewed this Lease and that no rule construction to the effect
that any ambiguities are to be resolved against the drafting party shall be
employed in the interpretation of this Lease or any amendment or exhibits
hereto.
(h) This Lease sets forth all the covenants, promises,
agreements, conditions and understandings between Landlord and Tenant concerning
the Premises. There are no oral agreements or understandings between the parties
hereto affecting this Lease and this Lease supersedes and cancels any and all
previous negotiations, arrangements, agreements and understandings between the
parties hereto with respect to the subject matters hereof, and none thereof
shall be used to interpret or construe this Lease. Except as otherwise herein
expressly provided, no subsequent alteration, amendment, change, waiver or
addition to or of any provision of this Lease, nor any surrender of the Term,
shall be binding upon Landlord or Tenant unless reduced to writing and signed by
the party against whom the same is charged or such party's successors in
interest.
(i) For the period between the date of execution hereof and
December 8, 1999, neither Landlord nor Tenant shall make a public announcement
regarding this Lease without the prior consent of the other, which consent shall
not be unreasonably withheld.
30. QUIET ENJOYMENT
So long as Tenant shall observe and perform the covenants and
agreements binding on it hereunder and shall not be in default beyond any
applicable grace period, Tenant shall at all times during the term herein
granted peacefully and quietly have and enjoy possession
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of the Premises without any encumbrance, unreasonable nuisance or hindrance by,
from, through or permitted by Landlord.
31. ESTOPPEL CERTIFICATE BY TENANT
Landlord and Tenant agree that from time to time upon not less
than five (5) business days prior request of the other, to deliver to the party
making the request a statement in writing certifying (a) that this Lease is
unmodified and in full force and effect (or if there have been modifications
that the same is in full force and effect as modified and identifying the
modifications), (b) the dates to which the Rent and other charges have been
paid, and (c) that, so far as the person making the certificate knows, the other
party is not in default under any provision of this Lease, or if such were not
to be the fact, then certifying such default of which the person making the
certificate may have knowledge, it being understood that any such certificate so
delivered may be relied upon by any landlord under any ground or underlying
lease, or any prospective purchaser, lender, mortgagee, or any assignee of any
mortgage on the Property or any party purchasing the assets of Landlord or
Tenant, as the case may be, or acquiring the same by merger, succession or
otherwise.
32. INTENTIONALLY DELETED
33. MOVING ALLOWANCE
Provided that Tenant has not defaulted hereunder, Landlord shall
provide Tenant with a moving allowance equal to Two Hundred Twenty Thousand
Dollars ($220,000) (the "Moving Allowance"), which Moving Allowance shall be
paid to Tenant within ten (10) days after the later to occur of (i) the
Commencement Date or (ii) the date Tenant takes occupancy of the Premises.
34. TERMINATION OPTION
Tenant shall have the right to terminate this Lease as of
December 31, 2006 (the "Termination Date") by timely notifying Landlord in
writing of its intention to exercise such right at least twelve (12) months
prior to the Termination Date (the "Termination Notice"), provided that no
default has occurred hereunder as of the date Tenant provides the Termination
Notice or at any time thereafter prior to the Termination Date. If Tenant timely
exercises such termination right, then Tenant shall pay Landlord a termination
payment equal to the sum of (a) the unamortized portion (amortized on a straight
line basis over the number of months comprising the initial term of this Lease)
of the sum of (i) Landlord's portion of the cost of the Work and the Generator,
as described in Section 4, (ii) the brokerage commissions paid by Landlord in
connection with this Lease, (which amount shall in no event exceed six percent
(6%) of the Base Rent payable for the full ten (10) year term of the Lease),
(iii) Landlord's attorneys' fees and disbursements incurred in connection with
this Lease (not to exceed $25,000), (iv) the Moving Allowance (as defined in
Section 33) provided by Landlord, and (v) the amount of the rental abatement
provided by Landlord pursuant to Section 3(d), and (b) an amount equal to six
(6) monthly installments of Rent (at the rate that would have been in effect for
the six (6) months following the Termination Date). Such termination payment
shall be in addition to, and not in lieu of, the rental payments and other
charges due hereunder through the Termination Date, and
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it is understood by the parties hereto that such termination payment shall be
deemed to be recapture of inducements provided to Tenant to enter into this
Lease and other costs and expenses incurred or suffered by Landlord in
connection with this Lease. Tenant's termination payment shall be due in twelve
(12) equal monthly installments payable concurrently with each monthly
installment of Base Rent due for calendar year 2006. If Tenant does not timely
deliver the Termination Notice and timely make each installment of the
termination payment in accordance with the terms of this Section 34 (time being
of the essence), then Tenant's right to terminate this Lease pursuant to this
Section 34 shall immediately lapse and be of no further force or effect. If
Tenant provides both the Termination Notice and each installment of the
termination payment to Landlord but fails to vacate the Premises completely and
in the condition required by this Lease on or before the Termination Date, then,
at Landlord's option, (A) Tenant shall be treated as a holdover tenant subject
to the terms of Section 8 hereof or (B) Tenant's right to terminate this Lease
pursuant to this Section 34 shall lapse and be of no further effect. The right
to terminate this Lease pursuant to this Section is personal to Genencor
International, Inc. and may not be exercised by any transferee or assignee of
Genencor International, Inc. (other than Permitted Transferees).
35. FINANCIAL STATEMENTS
Tenant shall provide Landlord with financial statements
detailing the financial condition of Tenant. Such statements shall be provided
upon request by Landlord and shall be audited or verified by a certificate of
Tenant or if the same be a corporation by a certificate of a member of Tenant's
senior management. Tenant shall further provide Landlord such additional
financial statements in such form and such certifications as Landlord may from
time to time reasonably request.
36. ENTIRE AGREEMENT
This Lease sets forth all the covenants, promises, agreements,
conditions and understandings between Landlord and Tenant concerning the
Premises. There are no oral agreements or understandings between the parties
hereto affecting this Lease, and this Lease supersedes and cancels any and all
previous negotiations, arrangements, agreements and understandings between the
parties hereto with respect to the subject matters hereof, and none thereof
shall be used to interpret or construe this Lease. Except as otherwise herein
expressly provided, no subsequent alteration, amendment, change, waiver or
addition to or of any provision of this Lease, nor any surrender of the Term,
shall be binding upon Landlord or Tenant unless reduced to writing and signed by
the party against whom the same is charged or such party's successors in
interest.
37. RECYCLING PROGRAM
Landlord has instituted a recycling program for various types of
non-hazardous waste products Tenant and Tenant's employees, guests and invitees
will generate on the Premises. Tenant and Tenant's employees, guests and
invitees agree to adhere to any and all rules and regulations and any future
reasonable expense or surcharge Landlord may promulgate with respect to the
recycling program and to actively participate in the program.
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38. AUTHORITY
Tenant warrants and represents that it has full power and
authority to execute this Lease on behalf of Tenant and that this Lease, once
executed by the signatory of Tenant, shall constitute a legal and binding
obligation of Tenant and is fully enforceable in accordance with its terms.
39. EXHIBITS
Exhibits "A" through "C" are attached hereto and are part of
this Lease.
IN WITNESS WHEREOF, Landlord and Tenant have respectively signed
and sealed this Lease as of the day and year first above written.
LANDLORD:
WITNESS MERIDIAN CENTRE ASSOCIATES, L.P.
/s/ By: /s/
--------------------------------- ---------------------------------
Its: General Partner
TENANT:
WITNESS GENENCOR INTERNATIONAL, INC.
/s/ By: /s/
--------------------------------- ---------------------------------
Its: Senior Vice President & CFO
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Exhibit A
000 Xxxxxxxx Xxxxxx
Xxxxx Xxxxx
A-1
37
Exhibit A (continued)
000 Xxxxxxxx Xxxxxx
Xxxxxx Xxxxx
A-2
38
Exhibit A (continued)
A-3
39
Exhibit B
MERIDIAN CENTRE
BUILDING STANDARD WORKLETTER
August 10, 1999
The Landlord, at its expense, shall furnish and install, in
accordance with the approved Tenant's Plans, the following materials and work,
all to be Building Standard unless otherwise expressly stated. The Landlord may,
however, substitute the materials described herein provided that any materials
used in such substitution shall be of an equal or superior quality to that
described herein.
A. Lobby Walls and Core Wall
1. Finish
The exposed surfaces are to receive a wall covering and wood
paneling finish. The atrium lobbies will have glass space frame
roofs, cherry railings and granite floors or equal. The second
and third floor lobbies will have wood paneling and custom
designed railings surrounding the atrium opening.
2. Doors-Frames
Solid core doors with cherry veneer, 3' x 8' x 1-3/4" in
dimension, will be installed in hollow metal frames with cherry
molding.
3. Hardware
Each swing door shall be provided with a minimum of one and
one-half pairs of butts, a latch set, or lockset where required.
A surface mounted door closer will be provided at such
additional locations as may be required by the local code. All
hardware shall be Schlage or equal.
4. Elevators
Elevators will have brushed bronze trim and doors with a natural
xxxxxx xxxxxxx Interior, bronzed mirror ceilings and recessed
lights. One elevator will be oversized in height and depth for
freight purposes and will be facing the west side entrance way
to the Building. Ceilings in front of the elevators on all three
floors will be our upgraded high quality designer series.
B-1
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B. Partitions and Doors
1. Partitions Separating Premises (Demising & Corridor)
a. Partitions
Partitions separating premises shall be constructed of
metal studs with one layer of 1/2" gypsum board on each
side and one layer of 1/2" sound board on one side, with
each layer of the gypsum board extending to the
underside of the floor construction above. The wall
cavity will be filled with 3-1/2" fiberglass sound batt
insulation.
b. Tenant Entrance Door
All doors shall have hollow metal frames and cherry
casings. The 8'0" height doors shall be solid core
cherry and shall be provided with two pairs of butts, a
lockset, and a doorstop where required. A door closer
will be provided for the principal entrance door to the
premises and at such additional locations as may be
required by local code. The locksets provided at the
entrance will be master keyed to building standard and
shall be Schlage or equal. Additionally, landlord shall
install a 2' x 8' glass sidelite next to the entrance
door.
c. Secondary Egress Doors
Secondary egress doors shall be provided as required by
local code. The 8'0" height doors shall be solid core
cherry set in hollow metal frames. Hardware shall be
Schlage or equal.
2. Partitions Separating Offices Within Premises
a. Partitions
These partitions shall be constructed of metal studs
with one layer of 1/2" gypsum board on each side
extending six (6) inches through and above the
acoustical ceiling.
b. Sound Reduction
Landlord can, at Tenant's expense, install sound
reduction material consisting of one layer of 1/2" sound
deadening board and, in the wall cavity, 3-1/2"
fiberglass sound batt insulation.
c. Doors Within Premises
Doors shall have solid cherry door with hollow metal
frames. Each 8'0" height door shall be solid core with
cherry veneer and shall be provided
B-2
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with one and one-half pairs of butts, a latch set, and a
doorstop where required. All hardware shall be Schlage
or equal.
3. Flooring and Wall Base
a. Tenant shall choose a carpet and/or a resilient vinyl
tile (where required) from Landlord's selection. The
Landlord shall, at his expense, install the selected
carpet and/or resilient vinyl tile where designated by
Tenant's contract documents.
b. Landlord shall install a 4" vinyl wall base where
designated by the Tenant's contract documents. The
Landlord's architect shall assist, select and/or approve
material. Provide vinyl wall base in "roll" quantity.
C. Ceilings
1. Mechanically suspended acoustic tile ceilings shall be
mineral fiber, Class "A" (non-combustible), 2' by 2'
fissure-pattern, sound absorbent. Ceiling height is
anticipated to be a minimum of 8'6" AFF.
2. The Building will be fully sprinklered and sprinkler
heads will be flush mounted in all finished office
spaces and common areas.
D. Lighting
1. Recessed fluorescent lighting fixtures with parabolic
lens (2' x 4') with three (3) 34 watt rapid start tubes
shall be installed by Landlord. Where required by design
conditions, smaller recessed fluorescent fixtures may be
substituted at Landlord's option.
2. Miscellaneous fixtures, fluorescent and/or incandescent,
shall be installed in mechanical spaces, toilet areas,
stairwell and utility areas to conform to building
operation requirements and existing codes.
3. Wall switches of the single pole, quiet type, to the
extent of one switch for each ten (10) lighting fixtures
averaged in the open area shall be Installed by
Landlord. Each private office shall have one (1) wall
switch.
4. Occupancy sensors will be provided in open areas and
private offices in conjunction with local and state
energy codes.
E. Electrical and Telephone
1. Duplex wall, base and floor receptacles (110v non-dedicated)
shall be installed by Landlord. Floor mounted receptacles shall
not exceed 10% of the total number of allowed receptacles.
B-3
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2. Power wiring circuits, including terminal devise (227 volt, 3
phase, grounded) shall be made available to Tenant as may be
agreed between the parties in connection with Tenant's equipment
at the rate of one per 6,000 square feet of leased area.
3. Installation and expense of the wiring by the telephone company
is the responsibility of the Tenant and shall conform to the
National Electrical Code (Article 800, Paragraph 3, Section D).
All wiring shall be teflon coated.
F. Plumbing
Wet stacks are available on the typical office floor containing cold and
hot water, waste and vents. Tenant equipment can be connected at these
points by the Landlord at Tenant's expense. This would encompass such
items as private restrooms, wet bars, showers and kitchens.
G. Painting and Wall Covering
1. All wall surfaces shall receive a finish coat of building
standard flat water based enamel off-white paint and one prime
coat, or equal. Cherry doors, frames and casings shall have a
stained finish and one coat of sealer and varnish. Metal frames
shall be finish coated with two coats of semi-gloss enamel.
2. Where the Tenant desires wall covering, the Landlord shall
initially prepare walls to receive wall covering as designated
by the Tenant's floor plan. Such wall covering shall be
furnished and installed by Landlord at the Tenant's expense,
unless otherwise noted as agreed to between the respective
parties. Wall covering shall be subject to the Landlord's
approval prior to installation.
3. Public area corridors and lobbies on multi-tenant floors shall
be finished in accordance with the Landlord's Architect's finish
schedule.
H. Sun-Control
The Landlord shall install 1" building standard metal horizontal blinds
to be Levolor or equal.
I. Heating and Air Conditioning System
1. The heating and air conditioning systems shall be designed to
maintain interior temperatures for the comfortable use and
occupancy of the space during business hours. Temperature and
relative humidity ranges shall conform to ASHRAE Standards as
adjusted for seasonality.
2. Heating and cooling provided by decentralized electro-hydronic
water source heat pumps with one unit per 1,400 square feet.
B-4
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3. The heat pump units are individually thermostatically controlled
and are operable at any time of the day.
4. Any supplemental or additional heating and thermostatic and/or
air conditioning systems required by the Tenant shall be at the
expense of the Tenant and only with the approval of the
Landlord.
J. Security System
1. A security sub-system be installed which shall include one
sub-zone control panel (key pad) located at Tenant's primary
entrance, two passive infra-red beams (heat sensors), smoke
detector and fire horn.
2. If Tenant desires, and with Landlord's approval, additional
sub-zone control panels, passive infra-red beams and other
security features may be installed in Tenant's suite at Tenant's
sole expense.
K. Other
Any and all other materials in excess of the quality of materials
described herein shall be installed by landlord, subject to his prior
approval, at the Tenant's expense.
B-5
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EXHIBIT "C"
Cleaning Schedule
Nightly - General:
1. Empty ashtrays and pick up paper.
2. Clean all drinking fountains.
3. High traffic carpeted areas vacuum cleaned.
4. Floors, other than carpet, swept.
5. Empty waste baskets and dust furniture.
6. Clean floors, main lobby and public corridor.
7. Freshen all public corridor and lobby sand urns.
8. Clean interior of all elevator cabs including floor.
9. Clean exterior of main lobby hatch doors (elevators).
10. Clean main lobby doors.
11. Sweep sidewalks.
Nightly - Lavatories:
1. All flooring washed nightly.
2. All mirrors, powder shelves, bright work, etc.,
including flushometers, piping and toilet seat hinges
washed and polished nightly.
3. All basins, bowls, urinals and toilet seats (both sides)
washed nightly.
4. All partitions, tile walls, dispensers and receptacles
dusted nightly.
5. Paper towel and sanitary disposal receptacles emptied
and cleaned nightly.
6. Dispensers filled with supplies.
Weekly:
1. All carpeted areas vacuum cleaned.
C-1
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At Regular Intervals:
1. Wash all toilet walls.
2. Dust A/C wall and ceiling grills, wall hangings.
3. Clean exterior windows.
C-2
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LEASE AMENDMENT
LEASE AMENDMENT, dated September 1, 1999, (the "Amendment") by
and between MERIDIAN CENTRE ASSOCIATES, LP (the "Landlord") and GENENCOR
INTERNATIONAL, INC., (the "Tenant").
WITNESSETH
WHEREAS, the Tenant leased approximately 43,472 square feet (the
"Premises") located on the second and third floors of the building known as 000
Xxxxxxxx Xxxxxx, Xxxx xx Xxxxxxxx, Xxxxxx of Monroe, State of New York pursuant
to a Lease dated August 16, 1999, (the "Lease");
WHEREAS, Tenant shall hire and lease from Landlord an additional
472 square feet of Total Rentable Area located on the second floor as detailed
herein on the attached second page of Exhibit A which shall replace said page
previously attached to and made part of the Lease.
WHEREAS, Landlord and Tenant now mutually desire to amend the
Lease as herein set forth and are executing and delivering this Amendment for
that purpose.
NOW, THEREFORE, the parties hereto, in consideration of the
covenants, agreements and terms, provisions, stipulations and conditions therein
contained, hereby amend the Lease in the following respects, and only in the
following respects.
1. The "Witnesseth" section of the Lease is hereby modified in
relevant part as follows:
"Landlord hereby leases unto Tenant and Tenant hereby accepts
from Landlord, that certain space consisting of approximately
43,944 square feet (the "Total Rentable Area") comprised of
34,528 rentable square feet making up the entire xxxxx xxxxx
(0xx) and known as Suite 300 and 9,416 rentable feet on the
second floor (the "Premises") of the building ....."
2. Section 3(a) Rent detailed in the Lease is hereby modified in
relevant part as follows:
"Tenant shall pay to Landlord...the annual sum of SEVEN HUNDRED
EIGHTY SIX THOUSAND FIVE HUNDRED NINETY SEVEN AND 60/100 Dollars
($786,597.60), payable in monthly installments of SIXTY FIVE
THOUSAND FIVE HUNDRED FORTY NINE AND 80/100 Dollars ($65,549.80)
each promptly on the first day of every calendar month..."
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3. Section 3(b) Increase in Base Rent is hereby modified in
relevant part and replaced with the following:
Annual Monthly Rental Rate
Lease Years Base Rent Base Rent per Square Foot
----------- --------- --------- ---------------
1-3 $786,597.60 $65,549.80 $17.90
4-7 $830,541.60 $69,211.80 $18.90
8-10 $874,485.60 $72,873.80 $19.90
4. The last sentence of Section 3(f) Tenant's Share of Real
Property Taxes is hereby modified to reflect Tenant's revised Pro-Rata Share to
be 45.72%.
5. Definitions. All terms defined in the Lease and used but not
defined herein shall have the meaning set forth in the Lease.
6. Applicability of Amendment. As amended hereby, the Lease
shall continue unamended and in full force and effect. In the event of a
conflict between the provisions of this Amendment and the Lease, the provisions
of this Amendment shall control.
IN WITNESS WHEREOF, the Landlord and the Tenant have
respectively signed this Amendment as of the day and year first above written.
GENENCOR INTERNATIONAL, INC.
WITNESS /s/ By: /s/
----------------------------- ---------------------------------
Its: Senior Vice President & CFO
--------------------------------
MERIDIAN CENTRE ASSOCIATES, LP
WITNESS /s/ By: /s/ Xxxxxxxx X. Xxxxx, Xx.
----------------------------- ---------------------------------
Its: Partner
--------------------------------
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