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Exhibit 10.23
SECOND AMENDMENT TO
STANDARD LEASE AGREEMENT
THIS SECOND AMENDMENT TO STANDARD LEASE AGREEMENT (this "Amendment") is
made by and between LASALLE PARTNERS MANAGEMENT LIMITED (in its capacity as
agent for Xxxxxx Street Limited Partnership, a Delaware limited partnership)
("Landlord") and WOLF COMMUNICATIONS COMPANY, a Texas corporation ("Tenant"),
effective this the 8th day of August, 1996.
W I T N E S S E T H
WHEREAS, Landlord and Tenant have entered Into that certain Standard Lease
Agreement dated June 11, 1995, as amended by First Amendment to Standard Lease
Agreement dated effective January 18, 1996 (as amended to date, the "Lease"),
for the lease of approximately 23,260 square feet of Agreed Rentable Area
comprised of the Initial Space (12,312 square feet of Agreed Rentable Area) and
the Initial Expansion Space (10,948 square feet of Agreed Rentable Area) located
on Floor 7 of the 0000 Xxxxxx Xxxxxx Building ("Building") (the land on which
the Building is located is more particularly described in Exhibit "B" attached
to the Lease), all in accordance with the terms, conditions, covenants and
obligations contained in the Lease and the exhibits and riders attached to the
Lease: and
WHEREAS, beginning on December 1, 1996 (the "Effective Date"), Tenant
desires to expand the Premises to include approximately 36,625 square feet of
Agreed Rentable Area located on the 7th Floor of the Building, as shown on the
attached Exhibit "A" (the "Second Expansion Space").
NOW, THEREFORE, in and for the premises contained in this Amendment and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Landlord and Tenant agree to amend the Lease as follows:
1. Item 2 of the Basic Lease Provisions is amended to reflect the addition of
the Second Expansion Space to the Premises, and the Agreed Rentable Area
of the Premises beginning on the Effective Date shall read as follows:
Agreed Rentable Area: 59,885 square feet.
2. Basic Rent for the Second Expansion Space shall be as follows:
Rate Per Square Basic Basic
Rental Foot of Agreed Annual Monthly
Period Rentable Area Rent Rent
------ ------------- ---- ----
Months 1-3 $ 15.00 $ 329,625.00 $ 27,468.75
Months 4-6 $ 15.00 $ 439,500.00 $ 36,625.00
Months 7-expiration $ 15.00 $ 549,375.00 $ 45,781.25
of Initial Term
The rental periods referenced above shall be calculated from the Effective
Date.
3. Item 4 of the Basic Lease Provisions is amended to reflect the addition of
the Second Expansion Space and shall read as follows:
Tenant's Pro Rata Share Percentage: 7.64% (the Agreed Rentable Area of the
Premises divided by the Agreed Rentable Area of the Building, expressed in
a percentage).
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4. The Second Expansion Space shall become a part of the Premises in
accordance with Rider 3 to the Lease and shall be governed by the
provisions of the Lease, except for the following matters:
(a) Tenant has as of the date hereof submitted to Landlord an additional
Security Deposit in the amount of $6l0,264.00 as contemplated by, and
which is to be held and renewed in accordance with, Article 3 of the
Lease.
(b) The Lease Cancellation Option contained in Section 13.701(a) shall be
terminated and shall no longer be of any force and effect by virtue of
Tenant having leased all available space on floor 7 of the Building,
However, for purposes of Section 13.701(b) and 13.702, the Cancellation
Payment referenced in Section 13.70: shall be increased to reflect the
increased unamortized leasing costs attributable to the Second Expansion
Space: and at the time Tenant executes the Acceptance of Premises
Memorandum with respect to the Second Expansion Space, Tenant and Landlord
agree to replace the existing Exhibit F to the Lease with a revised
Exhibit F reflecting such increase in the Cancellation Payment.
(c) The leasehold improvements in the Second Expansion Space shall be
constructed in accordance with the Work Letter attached as Exhibit C to
the Lease, except as follows:
(i) The time frame for delivery of Construction Plans in Section 1.1
of Exhibit C shall run from the Effective Date and not the date of
execution of the Lease.
(ii) The Finish Allowance and other concessions for the Second
Expansion Space shall be reduced in accordance with Rider 3 to the
Lease to $12.56 per square foot of Rentable Area within the Second
Expansion Space.
(iii) Landlord shall have no obligation to construct the Landlord's
Work set forth in Section 8(i), because that work has been completed
and accepted by Tenant.
5. Tenant having leased all remaining available space on floor 7 of the
Building, the Opportunity Expansion Space and Tenant's rights under Rider
3 to the Lease are modified to cover all space on the 18th floor in
accordance with the terms of Paragraph A of Rider 3, subject to (a) prior
rights of other tenants in the Building and (b) renewals by tenants
actually occupying space on the 18th floor, whether or not such renewals
are set forth in their leases. Consequently, Schedule A of Rider 3 to the
Lease is deleted and the term "Opportunity Expansion Space" shall be
deemed to refer to the entire 18th floor of the Building. As of the
Effective Date, the only existing lease to which Tenant takes subject is
the lease with Exxon Corporation.
6. Section 5.103(c) of the Lease is amended to reflect that Landlord shall
now furnish UPS power to meet Tenant's loads in an amount not to exceed
250 KVA: and the total power requirements for all equipment in the
Premises, whether non-emergency or emergency, shall not exceed 500 KVA.
7. All capitalized terms used herein and not otherwise defined herein shall
have the meaning given to such terms in the Lease. Unless specifically
modified by the foregoing provisions, all of the terms and conditions of
the Lease shall remain unchanged and in full force and effect, it being
the intent of the parties to add the Second Expansion Space to the
Premises.
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EXECUTED EFFECTIVE as of the day first set forth above,
LANDLORD: TENANT:
LASALLE PARTNERS MANAGEMENT WOLF COMMUNICATIONS COMPANY
LIMITED, solely in its capacity as
agent for Xxxxxx Street Limited
Partnership, a Delaware Limited By: /s/ Xxxxxx Xxxx
Partnership ------------------------------
Printed Name: Xxxxxx Xxxx
By: /s/ Xxxxxxx X. Xxxx Title: President
------------------------------
Xxxxxxx X. Xxxx
Executive Vice President
By: /s/ Xxxxxx X. Xxxxxxxx
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Xxxxxx X. Xxxxxxxx
Vice President
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[GRAPHIC OMITTED] 0000 XXXXXX XXXXXX
XxXxxxx Partners
Management Limited
The Xxxxxxxxx/Sears Group, Inc.
Architects Interior Designers
April 12, 1992
EXHIBIT A
Second Expansion Space
36,625 Rentable Square Feet
