FIRST AMENDMENT TO LEASE AGREEMENT
EXHIBIT
10.1
FIRST
AMENDMENT TO LEASE AGREEMENT
THIS
FIRST AMENDMENT TO LEASE AGREEMENT
(the
“Agreement”), is made this 15th day of November, 2005, by and among CANTON
CROSSING TOWER, LLC,
a
Maryland limited liability company, having an address at 0000 Xxxxxx Xxxxxx,
Xxxxxxxxx, XX 21224(the “Landlord”), and First Mariner Bank, a Maryland
Corporation(the “Tenant”),
WITNESSETH,
THAT WHEREAS, by a Lease Agreement dated May 12, 2005, by and between the
Landlord and Tenant (the “Lease”), the Landlord leased to Tenant and Tenant
leased from the Landlord all of that certain space, in the building known
as
Canton Crossing Tower, located at 0000 Xxxxx Xxxxxxx Xxxxxx, which is more
particularly described therein (hereinafter and therein referred to as "the
Demised Premises"); and
WHEREAS,
the Landlord and the Tenant desire to amend certain provisions of the
Lease,
NOW,
THEREFORE, FOR AND IN CONSIDERATION of the mutual entry into this Agreement
by
the parties hereto, and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged by each party hereto, the parties
hereto hereby agree as follows:
Section
1. Amendment - Premises. Pursuant the paragraph 1, sentence 3, the Tenant
has
elected to exercise, and Landlord has elected to grant, the right for the
expansion of rental square footage by 16,136 rentable square feet.
Section
2. Amendment - Premises. Paragraph (1), the first sentence
of
paragraph one of the Lease is hereby deleted in its entirety and the following
shall be inserted in lieu thereof:
“1.
Premises.
Landlord does hereby lease to Tenant, and Tenant does hereby lease from
Landlord, for the term and on the conditions hereinafter provided, approximately
63,552 usable square feet of space on the 4th,
15th
and 16th
floors, upon mutual consent between Landlord and Tenant, the floor location
may
be subject to change, 74,061 rentable square feet based on current BOMA
standards and the common area and core factor rates, and known as Suite
TBD
(hereinafter referred to as the “Demised Premises”), of the building known as
Canton Crossing Tower (“Building”), together with the right to the non-exclusive
use, in common with others, of such footways, hallways, parking areas and
other
facilities designed for common use in the Building or on the land on which
the
Building is located (hereinafter collectively referred to as the
“Property”).”
Section
3. Amendment- Landlord’s Costs. Paragraph (4)(b)(i) of the Lease is hereby
deleted in its entirety and the following shall be inserted in lieu
thereof:
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“(i)
“Tenant’s Pro Rata Share” shall mean 15.53% representing the ratio that the
rentable area of the Demised Premises (i.e., 74,061 rentable square feet)
bears
to the total rentable area in the Building (i.e., 476,915 rentable square
feet).”
Section
4. Amendment - Parking. Paragraph [9] of the Lease is hereby deleted in its
entirety and the following shall be inserted in lieu thereof:
“9.
Parking.
Parking
for the Property includes the non-exclusive right to use 212 spaces in the
surface parking areas as directed by Landlord. The parking areas and surface
lot
are referred to as the “Parking Facilities.” The use of the Parking Facilities
by Tenant, and Tenant’s employees, visitors, invitees and licensees, shall be at
their sole risk and expense, and in no event shall Landlord have any liability
for damage, to or theft or loss of, property of Tenant or of Tenant’s employees,
visitors, invitees or licensees sustained in or about the Parking Facilities.
The Parking Facilities shall be subject to reasonable rules and regulations
governing the use thereof which shall be uniformly enforced and not enforced
against Tenant in a discriminatory manner and from time to time be relocated
with reasonable notice to Tenant. Tenant agrees to keep, observe and comply
with
all such rules and regulations, and will direct and require its employees,
visitors, invitees and licensees to comply therewith. No one is authorized
to
accept possession of any vehicle from Tenant or from Tenant’s employees,
visitors, invitees or licensees, or to accept custody of any articles from
Tenant. Parking shall be on an unreserved first come, first serve basis at
no
charge throughout the Lease Term and any renewals or expansions.”
Section
5. Representations
and Covenants.
5.1.
The
Landlord hereby represents and warrants to the Tenant that the Landlord holds
all of the lessor's rights under the provisions of the Lease, and as such
has
full power and authority to enter into this Agreement and take each action
to be
taken by the Landlord hereby or pursuant to the provisions hereof.
5.2.
The
Tenant hereby represents and warrants to the Landlord that the Tenant holds
all
of the lessee's rights under the provisions of the Lease, and as such has
full
power and authority to enter into this Agreement and take each action to
be
taken by the Tenant hereby or pursuant to the provisions hereof.
5.3.
Each
of Landlord and Tenant represent to the other that the Lease is in full force
and effect, that neither party is in default or breach of any of their
respective obligations under the Lease.
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Section
6. General.
6.1. Effectiveness.
This
Agreement shall become effective upon and only upon its execution and delivery
by each party hereto.
6.2. Complete
understanding.
This
Agreement represents the complete understanding among the parties hereto
as to
the subject matter hereof, and supersedes all prior negotiations,
representations, guaranties, warranties, promises, statements or agreements,
either written or oral, among the parties hereto as to the same.
6.3. Waiver.
No
party hereto shall be deemed to have waived the exercise of any right which
it
holds hereunder unless such waiver is made expressly and in writing (and,
without limiting the generality of the foregoing, no delay or omission by
any
party hereto in exercising any such right shall be deemed a waiver of its
future
exercise). No such waiver made in any instance involving the exercise of
any
such right shall be deemed a waiver as to any other such instance, or any
other
such right.
6.4. Successors.
Subject
to the provisions of the Lease, this Agreement shall be binding upon and
shall
inure to the benefit of the parties hereto and their respective heirs, personal
representatives, successors and assigns hereunder.
IN
WITNESS WHEREOF, each party hereto has executed and ensealed this Agreement
or
caused it to be executed and ensealed on its behalf by its duly authorized
representatives, the day and year first above written.
| WITNESS or ATTEST: |
CANTON
CROSSING TOWER, LLC,
A Maryland limited liability company, |
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By:
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/s/
Xxxxx X. Xxxx, Xx.
|
(SEAL)
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|
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| Name: Xxxxx X. Xxxx, Xx. | ||||
| Title: |
| WITNESS or ATTEST: |
FIRST
MARINER BANK
TENANT |
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By:
|
/s/
Xxxxxx Xxxxxx
|
(SEAL)
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|
|
|
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| Name: Xxxxxx Xxxxxx | ||||
| Title: |
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