FIRST AMENDMENT TO AGREEMENT OF LEASE
THIS FIRST AMENDMENT TO AGREEMENT OF LEASE (this "Amendment") is made this
31st day of December, 1998, and is effective as of October 13, 1998, by ST.
BARNABAS, LLC, a Maryland limited liability company, successor-in-interest to
St. Barnabas Limited Partnership ("Landlord") and CONSTELLATION PROPERTIES,
INC., a Maryland corporation ("Tenant").
W I T N E S S E T H:
WHEREAS, Landlord and Tenant entered into that Agreement of Lease dated
September 28, 1998 (the "Lease"), by the terms of which Tenant has leased from
Landlord and Landlord leased to Tenant that certain premises located on the
fourth, fifth and sixth floors containing an agreed upon equivalent of 48,863
square feet of rentable area (the "Original Premises") and located within the
office building known as One Constellation Centre, 0000 Xxxx Xxxx Xxxx, Xxxx
Xxxx, Xxxxxxxx 00000 (the "Building"), all as more particularly described in the
Lease; and
WHEREAS, as contemplated by Section 19.2 of the Lease, Landlord has
notified Tenant that it desires to recapture two (2) separate areas of the
Original Premises (as described below) and Landlord and Tenant mutually desire
to amend the Lease with respect to the size of the Original Premises and other
matters as more particularly set forth below.
NOW, THEREFORE, in consideration of the above Recitals and the mutual
covenants and conditions contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged,
Landlord and Tenant agree as follows:
1. Effective Date. The Effective Date of this Amendment shall be October 13,
1998.
2. Reduction of Premises.
2.1 As of October 13, 1998, the Original Premises shall be reduced by the
space known as Suite 414, which contains 2,621 rentable square feet (the
"Recapture Space #1") as shown on Exhibit A attached hereto and made a part
hereof.
2.2 As of December 1, 1998, the Original Premises shall be reduced by the
space known as Suite 412, which contains 2,654 rentable square feet (the
"Recapture Space #2") as shown on Exhibit B attached hereto and made a part
hereof.
Definition of "Premises".
3.1 For the period commencing on October 13, 1998 and ending on November
30, 1998, any references in the Lease to the "Premises" shall refer to 46,242
rentable square feet.
3.2 For the period commencing on December 1, 1998 and continuing through
the expiration of the Term, any references in the Lease to the "Premises" shall
refer to 43,588 rentable square feet.
3.3 Landlord shall use such varying definitions of "Premises" to compute
Tenant's liability for any additional rent hereunder, including, without
limitation, Building Expenses and Taxes.
3. Amendment of Section 5.1--Base Rent. Section 5.1 of the Lease is deleted in
its entirety and the following is inserted in lieu thereof:
5.1 Base Rent. As rent for the Premises during each year of the Term,
Tenant shall pay to Landlord an annual base rent, in equal monthly
installments, in advance on the first day of each calendar month during
the Term, and without deduction, setoff or demand, in accordance with the
following schedule
Lease Year Annual Base Rent Monthly Installment of Base Rent
---------- ---------------- --------------------------------
(Or pro rata share thereof)
9/28/98-10/12/98 $903,965.52 $75,330.46
10/13/98-11/30/98 $855,477.00 $71,289.75
12/1/98-9/28/00 $806,378.04 $67,198.17
Landlord shall credit any overpayment of Base Rent due hereunder against
the next installment of Base Rent due under the terms of the Lease.
4. Ratification of Lease. All other terms, covenants and conditions of the Lease
shall remain the same and continue in full force and effect, and shall be deemed
unchanged, except as such terms, covenants and conditions of the Lease have been
amended or modified by this Amendment, and this Amendment shall constitute a
part of the Lease.
IN WITNESS WHEREOF, Landlord and Tenant have respectively affixed their
hands and seals to this Amendment as of the day and year written below their
respective signatures.
WITNESS: LANDLORD:
ST. BARNABAS, LLC
/s/ Xxxxx [ILLEGIBLE] By: /s/ Xxxxx X. Xxxxxxx, Xx.(SEAL)
------------------------- -------------------------
Xxxxx X. Xxxxxxx, Xx.
Senior Vice President
WITNESS: TENANT:
CONSTELLATION PROPERTIES, INC.
/s/ Xxxx Xxxxx By: /s/ Xxxxxx X. Xxxxxx (SEAL)
------------------------- -------------------------
Name: Xxxxxx X. Xxxxxx
------------------------
Title: President
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STATE OF MARYLAND, COUNTY OF Baltimore, TO WIT:
I HEREBY CERTIFY, that on this 31st day of December, 1998, before me, the
undersigned Notary Public of said State, personally appeared XXXXX X. XXXXXXX,
XX. who acknowledged himself to be a Senior Vice President of ST. BARNABAS, LLC,
a Maryland limited liability company known to me (or satisfactorily proven) to
be the person whose name is subscribed to the within instrument, and
acknowledged that he executed the same for the purposes therein contained as the
duly authorized Senior Vice President by signing the name of the limited
liability company by himself as Senior Vice President.
WITNESS my hand and Notarial Seal.
/s/ Xxxxx Xxxxx
--------------------------------
Notary Public
XXXXX XXXXX
NOTARY PUBLIC STATE OF MARYLAND
My Commission Expires: My Commission Expires November 25, 2002
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STATE OF MARYLAND, County of Herford , TO WIT:
I HEREBY CERTIFY, that on this 30th day of December, 1998, before me, the
undersigned Notary Public of said State, personally appeared Xxxxxx X. Xxxxxx,
known to me (or satisfactorily proven) to be the person whose name is subscribed
to the within instrument, and acknowledged himself/herself to be the President
of CONSTELLATION PROPERTIES, INC., a Maryland corporation, that he/she, as such,
being authorized so to do, executed the foregoing instrument on behalf of said
Corporation by himself/herself as such President.
WITNESS my hand and Notarial Seal.
/s/ Xxxxx X. Xxxxxxxxxx
---------------------------
Notary Public
My Commission Expires: May 1, 2000
Xxxxx X. Xxxxxxxxxx, Notary Public
Herford County
State of Maryland
My Commission Expires May 1, 2000
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