Exhibit 10.15(b)
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LEASE AMENDMENT NO. ONE
THIS AMENDMENT TO LEASE(this "Amendment") is made and entered into as of the
14TH day of September, 1998, by and between WISCONSIN XXXX, INC., a Wisconsin
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corporation, d/b/a Ameritech Wisconsin (the "Lessor), and M & 1 DATA SERVICES, A
Division of Xxxxxxxx & Ilsley Corporation, a Wisconsin corporation (the
"Lessee").
WHEREAS, Lessor, or its predecessor in interest and Lessee are parties to that
certain Lease dated March 25, 1994 (the "Lease"), demising premises located at
0000 Xxxxx Xxxxxx Xxxxxx, Xxx Xxxxx, Xxxxxxxxx; and,
WHEREAS, the parties desire to amend the Lease as stated below.
NOW, THEREFORE, in consideration of the mutual covenants and agreements
contained herein and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, Lessor and Lessee hereby amend the
Lease in the following respects only:
1. TERM. The term of the Lease shall be extended beginning August 1,
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1998, and expiring on July 31, 2013.
2. RENT. The rent from August 1, 1998 through July 31, 2009 shall be Two
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Hundred Ten Thousand Eight Hundred Forty-Six and 84/100 Dollars
($210,846.84) per year, payable in equal monthly installments of Seventeen
Thousand Five Hundred Seventy and 57/100 Dollars ($17,570.57); from August
1,2009 through July 31, 2011 the rent shall be Two Hundred Fifteen Thousand
Sixty-Three and 76/100 Dollars ($215,063.76) per year, payable in equal
monthly installments of Seventeen Thousand Nine Hundred Twenty-One and
98/100 Dollars ($17,921.98); and from August 1, 2011 through July 31, 2013
the rent shall be Two Hundred Nineteen Thousand Three Hundred Sixty-Five
and 04/100 Dollars ($219,365.04) per year, payable in equal monthly
installments of Eighteen Thousand Two Hundred Eighty and 42/100 Dollars
($18,280.42) payable on or before the 1st of the month. Rent shall be
deemed late if not received on or before the 10th of the month.
3. TERMINATION OPTION. Lessee shall have the right to terminate the Lease
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at any time upon at least one hundred eighty (180) days prior written
notice to Lessor to be effective on or before December 31, 2004, or upon at
least ninety (90) days prior written notice to Lessor to be effective from
January 1, 2005 through the end of the term, including any renewal options
set forth in Section 4 below.
4. RENEWAL OPTION. Lessor hereby grants to Lessee two (2) exclusive
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options to renew this Lease for additional terms of five (5) years each
after the expiration of this renewal term on the same terms and conditions
as herein provided for, except that rent shall be equal to ninety percent
(90%) of the then market rent, to be mutually agreed upon at the time that
Tenant exercises such options. The options shall be exercised by Lessee
prior to the expiration of the prior term upon at least ninety (90) days
prior written notice to Lessor. Should Lessee fail to give such notice,
Lessor shall request confirmation of non-renewal from the Lessee. Lessee's
right to renew shall not be terminated until Lessee gives Lessor written
notice of such termination or sixty (60) days after Lessor has requested
confirmation, whichever shall occur first.
5. PURCHASE OPTION. Article 3F. of the Lease is hereby deleted in its
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entirety and shall no longer be of any force or effect. Notwithstanding
the foregoing, in the event Lessor initiates a sale of the building in
which the Premises are located, Lessee shall have a right of first refusal
to purchase the building. Lessor shall notify Lessee of its intent to sell
the building and Lessee shall have three (3) business days to inform
Lessor as to whether Lessee intends to submit a good faith offer to
purchase the building. If Lessee informs Lessor that it intends to make an
offer, then Lessee shall have thirty (30) days thereafter to make its good
faith offer to Lessor. If within thirty (30) days from Lessor's receipt
of such offer, Lessor and Lessee are unable to enter into a contract for
the purchase of the building, then this right of first refusal shall
become null and void and of no further force or effect.
6. BUILDING COMMON OPERATING EXPENSES: Lessor hereby confirms that
lessee's pro-rata share remains at 57%.
Upon execution of this renewal agreement Lessor agrees that there shall be
no back payment due from Lessee for any Building Common Operating Expenses
incurred prior to June 1, 1998.
Commencing June 1, 1998 Lessee's estimated pro-rata share Common Area
maintenance payment due with the monthly base rent shall be $ 1,242 per
month. The payment amount shall be adjusted annually thereafter based upon
actual and projected building Common Operating Expenses.
Prior to June 1 of each year Lessor shall provide Lessee with an annual
statement, in reasonable detail of the actual operating costs for the prior
fiscal year. In the event Lessee has paid less than it's pro-rata share of
said actual operating costs, Lessee shall pay such additional costs with
the next installment of rent. In the event the amount prepaid by the Lessee
exceeds their actual pro rata share for the preceding fiscal year, Lessor
hereby agrees to credit the excess against monthly base rent due
thereafter.
7. NOTICE ADDRESS.
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The notice address for the Lessor is: Ameritech
Director of Real
Estate Service
000 X. Xxxxxxxx,
0xx Xxxxx
Xxxxxxx, XX 00000
with a copy to: Equis Corporation
X.X. Xxx 000000
Xxxxxxx, XX
00000-0000
The notice address for the Lessee is: M&I Data Services
Facilities
Management
Xxx Xxxxxxxxxxx
0000 Xxxx Xxxxx
Xxxx Xx
XX Xxx 00000
Xxxxx Xxxx, XX
00000-0000
8. LANDLORD ENTITY. Lessee hereby acknowledges and agrees that Lessor is
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Wisconsin Xxxx, Inc., a Wisconsin corporation, d/b/a Ameritech Wisconsin
and that all obligations and liabilities of Lessor under the Lease prior to
and after the date hereof shall be deemed to be those of such Lessor.
9. MISCELLANEOUS. The terms and conditions of the Lease are incorporated
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herein by reference as if fully set forth herein.
The entire agreement of the parties is set forth in this Amendment and in the
Lease as amended hereby. No prior agreement or understanding with respect to the
Lease and this Amendment shall be valid or of any force or effect. Except as
herein provided, all the terms and provisions of the Lease shall remain in full
force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this amendment as of the
day and year first written above.
LESSOR: LESSEE:
WISCONSIN XXXX, INC. M&I DATA SERVICES,
d/b/a Ameritech Wisconsin A Division of Xxxxxxxx & Ilsley
Corporation
By: /s/ Xxxxx X. Xxxxxx By: /s/ Xxxxx Xxxxxxx
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Xxxxx X. Xxxxxx Xxxxx Xxxxxxx
Its: Director of Real Estate Services Its: Chief Financial Officer
