EXHIBIT 10.51

THIRD MODIFICATION OF LEASE

LANDLORD NAME AND ADDRESS:

The Retail Property Trust
115 West Washington,
Indianapolis, IN 46204

 

 

TENANT NAME AND ADDRESS:

PREMIERE COMMUNICATIONS, INC.
3399 Peachtree Road, NE
The Lenox Building, Suite 600
Atlanta, Georgia 30326

 

 

DATE OF LEASE:

Executed March 3, 1997, modified August 4, 1997 and October 30, 1997

 

 

PREMISES:

The Lenox Building, Suites 300, 400, 500 600 and 700 Atlanta, Georgia

 

 

DATE OF AGREEMENT:

July 15, 1998

RECITAL

          Landlord and Tenant have agreed to amend the Lease in accordance with
the terms of this Agreement.

          NOW, THEREFORE, in consideration of the mutual covenants herein
contained, it is hereby agreed as follows:

          1.          Subject to the terms and conditions set forth below,
Tenant shall have the right to install a diesel powered generator with a
generating capacity of up to 750 KVA (the “Generator”) in the location marked on
Exhibit A annexed hereto and made a part hereof, together with batteries, a
diesel fuel tank of up to 2,000 gallon capacity, an output panel and all
feeders, battery charger,

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remote annunciators, rigging and terminations in support thereof (collectively,
the “Generator System”).

          2.          In connection with its installation of the Generator
System, Tenant shall erect an eight (8’’) foot chain-link security fence around
the Generator; shall provide Landlord with emergency access keys; and shall
replace or replant any landscaping disturbed by installation of the Generator or
the fence.

          3.          Tenant shall be solely responsible for the installation,
maintenance and repair of the Generator System, and for all costs incurred in
connection therewith. Tenant, at its own cost, shall enter into maintenance
agreements for the Generator System with a company reasonably satisfactory to
Landlord.

          4.          During the installation of the Generator System and any
subsequent non-emergency repairs or alterations thereto, Tenant shall notify
Landlord at least two (2) weeks in advance of any need to interrupt normal
electrical service to the Lenox Building.

          5.          Prior to installing the Generator System, Tenant shall
submit to Landlord for Landlord’s approval which shall not be unreasonably
withheld, conditioned or delayed, Tenant’s proposed procedures for fuel storage,
refueling, and periodic testing of the Generator.

          6.          Tenant shall not permit the testing or non-emergency
operation of the Generator during Standard Business Hours without the prior
written approval of Landlord, which shall not be unreasonably withheld,
conditioned or delayed.

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          7.          Upon the expiration or earlier termination of the Lease,
Tenant may remove the Generator System, or any portion thereof, and return all
affected areas of the Building to their pre-installation conditions, all at
Tenant’s sole cost and expense.  In the event Tenant elects not to remove the
Generator System, then it shall notify Landlord and Landlord shall have ten (10)
days to notify Tenant to remove any part, or all, of the Generator System,
otherwise, any part of the Generator System not so removed shall become the
property of Landlord.

          8.          Except as provided herein, all of the terms, conditions
and covenants of the Lease shall remain the same and in full force and effect.

          9.          Any capitalized term used herein shall have the meaning
ascribed to it in the Lease.

          IN WITNESS WHEREOF, Landlord and Tenant have executed this Agreement
as of the day and year first above written.

 

Tenant:

 

PREMIERE COMMUNICATIONS, INC.

 

 

 

By:

/s/ PATRICK G. JONES

 

 

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Sr.V.P.

 

 

 

 

Landlord:

 

THE RETAIL PROPERTY TRUST

 

 

 

By:

/s/ DAVID SIMON

 

 

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David Simon, CEO

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FOURTH MODIFICATION OF LEASE

 

THIS FOURTH MODIFICATION OF LEASE  (this “Modification”) is entered into this
27th day of August, 1998 by and between The Retail Property Trust a
Massachusetts business trust (“Landlord”) and Premiere Communications, Inc., a
Georgia corporation (“Tenant”)

 

 

LANDLORD NAME AND ADDRESS:

The Retail Property Trust
115 West Washington
Indianapolis, IN 4620

 

 

TENANT NAME AND ADDRESS:

Premiere Communications, Inc.
3399 Peachtree Road, N.E.
The Lenox Building
Suite 600
Atlanta, Georgia 30326

 

 

DATE OF LEASE:

Executed March 3, 1997, modified by Modification of Lease dated August 4, 1997,
modified by Second Modification of Lease dated October 30, 1997, and modified by
Third Modification of Lease dated July 5, 1998

 

 

LEASED PREMISES:

Suite #300 and 400 on the 3rd and 4th Floors, and Suite 500 and Suite 600 on the
5th and 6th Floor by Modification of Lease, and Suite 700 on the 7th Floor by
Second Modification of Lease

 

 

OFFICE BUILDING:

The Lenox Building

 

 

EFFECTIVE DATE OF MODIFICATION

The later of the date of delivery of a fully executed Modification from Landlord
to Tenant or the date on which Landlord delivers possession of Additional Space
III to Tenant

 

 

TERM COMMENCEMENT OF ADDITIONAL SPACE III:

Two months from Effective Date to begin construction

 

 

TERM EXPIRATION OF ADDITIONAL SPACE III:

August 31, 2006

 

 

DATE OF AGREEMENT:

August 27, 1998

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RECITALS

          WHEREAS, Landlord and Tenant entered into that certain Agreement of
Lease dated March 3, 1997 (the “Original Lease”), Modification of Lease dated
August 4, 1997, Second Modification of Lease dated October 30, 1997, and Third
Modification of Lease dated July 5, 1998 (the Original Lease, as so amended, the
“Lease”);

          WHEREAS, Landlord and Tenant desire to amend the Lease to provide for
the expansion of the Premises (as defined in the Lease) to include Suite No. 800
on the Eighth (8th) floor of The Lenox Building (the “Additional Space III”).

          Landlord and Tenant have agreed to amend the Lease in accordance with
the terms of this Agreement,

AGREEMENT

          NOW, THEREFORE, in consideration of the mutual covenants herein
contained it is hereby agreed as follows:

          1.          The Effective Date of the Modification shall be the later
of the date of delivery of a fully executed Modification from Landlord to Tenant
or the date on which Landlord delivers possession of Additional Space III to
Tenant (“Effective Date”).

          2.           As of the Effective Date, Article 1 of the Lease,
“Premises” section, Lines 1 and 2 are hereby amended by replacing the phrase
“Nos. 300, 400, 500, 600, and 700, Third (3rd) and Fourth (4th), Fifth (5th),
Sixth (6th) and Seventh (7th)” with the phrase “Nos. 300, 400, 500, 600, 700 and
800, Third (3rd), Fourth (4th), Fifth (5th), Sixth (6th), Seventh (7th), and
Eighth (8th)”.

          3.          As of the Effective Date, Article 1 of the Lease, “Size of
Premises” section, Line 1 is hereby amended by replacing the number “103,400”
with the number “114,154” to reflect the increase of the Size of the Premises by
10,754 rentable square feet.

          4.          As of the Effective Date, Rider 1(B) of the Lease is
hereby amended by replacing the number “89,913”, pertaining to useable square
footage, with the number “99,269” and by replacing the number “103,400”,
pertaining to rentable square footage, with the number “114,154”.

          5.          As of the Effective Date, Article 1 of the Lease,
“Tenant’s Pro Rata Share” section is hereby amended by replacing the number
“29.70” with the number “32.79” to reflect the increase of the Size of the
Premises.

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          6.          As of the Term Commencement of Additional Space III,
Article 1 of the Lease, “Fixed Rent” section is hereby deleted and replaced in
its entirety with the following:

 

Fixed Rent. $2,171,400.00 per year through March 31, 2001; $2,274,800.00 per
year from April 1, 2001 through August 31, 2004; and $2,378,200.00 per year from
September 1, 2004 through August 31, 2007.

 

 

 

 

          together with the following Fixed Rent for Additional Space III:

 

 

 

 

 

$258,096.00 (Two Hundred Fifty Eight Thousand Ninety Six and 00/100 Dollars) per
year from the Term Commencement of Additional Space III to August 31, 2002;
$279,604.00 (Two Hundred Seventy Nine Thousand Six Hundred Four and 00/100
Dollars) per year from September 1, 2002 through August 31, 2006.

 

 

          7.          As of the Effective Date, Exhibit B, annexed hereto, which
describes Additional Space III, also known as Suite 800 of the Premises, shall
be added to the Exhibit B annexed to the Lease.

          8.          As of the Effective Date, Rider 3(B) of the Lease is
hereby deleted and replaced in its entirety with the following:

                       Rider 3(B):

                       Tenant is familiar with Additional Space III and accepts
the same in an “as is”, “where is” condition, and Landlord shall not be
obligated to do any further construction or make any additional improvements in
Additional Space III, except as may otherwise be expressly provided herein.
Landlord shall deliver Additional Space III to Tenant on or before the Effective
Date of the Modification, in broom-clean condition and free of all existing
tenants.

                       Landlord acknowledges and agrees that Tenant shall be
allowed to make tenant improvements (“Tenant Improvements”) to the Premises at
any time during the Term. Tenant shall be granted an allowance of $5.00 (Five
Dollars) per square foot for Tenant Improvements made in Additional Space III
which shall be paid within thirty (30) days of the Effective Date. Tenant shall
provide Landlord with Tenant’s drawings, plans and specifications regarding the
proposed Tenant Improvements to the Premises. Landlord shall notify Tenant
within Fifteen (15) days after its receipt of such drawings, plans and
specifications of its approval thereof, which shall not be unreasonably
withheld, or its objection to anything contained therein.

          9.          As of the Effective Date, Article 2 and Rider 3(D) to the
Lease are hereby amended by inserting the phrase and “and eighth (8th) floors”
after the word “floors” on Line 4.

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          10.          As of the Effective Date, Rider 4(A) to the Lease is
hereby amended by replacing the phrase “Sixth (6th) floor and Seventh (7th)
floors” in line 3 with the phrase “Sixth (6th), Seventh (7th), and Eighth (8th)
floors”.

          11.          As of the Effective Date, Section 7.1C and Rider 25 to
the Lease are amended such that Landlord represents and warrants that no
conditions exist in Additional Space III as of the Effective Date which are not
in compliance with Government Authority in effect on the Effective Date and
agrees to remedy an such conditions in the same manner as provided for Suites
300 and 400 as of the Commencement Date.

          12.          All additional rents and other charges attributable to
Additional Space III shall be prorated beginning as of the Term Commencement
Date of Additional Space III.

          13.          Except as provided herein, all of the terms, conditions
and covenants of the Lease, including all items of additional tent, termination
date and rights of renewal shall remain the same and in full force and effect.

          14.          Any capitalized term used herein shall have the meaning
ascribed to it in the Lease.

          15.          Additional Provisions: On the Effective Date, Tenant will
be entitled to one (1) additional reserved parking space, which shall bring
Tenant’s total number of reserved parking spaces to eleven (11).  Such reserved
parking space shall be located on the second level of the parking deck between
the stairwell and the elevator lobby.

          IN WITNESS WHEREOF, Landlord and Tenant have executed this Fourth
Modification of Lease as of the day and year first above written.

 

TENANT:

 

 

 

PREMIERE COMMUNICATIONS, INC.

 

 

 

By:

/s/ PATRICK G. JONES

 

 

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Print Name:

Patrick G. Jones

 

Title:

Sr. V.P

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LANDLORD:

 

THE RETAIL PROPERTYTRUST, MASS, BUS TRUST

 

 

 

 

By

/s/ DAVID SIMON

 

 

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Print Name :

David Simon

 

Title:

CEO

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FIFTH MODIFICATION OF LEASE

THIS FIFTH MODIFICATION OF LEASE (this “Fifth Modification”) is entered into as
of the 1st day of April, 1999 by and between The Retail Property Trust, a
Massachusetts business trust, successor in interest to Corporate Property
Investors, (“Landlord”) and Premiere Communications, Inc., a Georgia corporation
(“Tenant”).

 

LANDLORD NAME AND ADDRESS:

THE RETAIL PROPERTY TRUST
c/o Simon Debartolo Group, L.P.
115 West Washington Street
Indianapolis, Indiana 46204

 

 

TENANT NAME AND ADDRESS:

PREMIERE COMMUNICATIONS, INC.
3399 Peachtree Road, N.E.
The Lenox Building
Suite 600
Atlanta, Georgia 30326

 

 

DATE OF LEASE:

Executed, March 3, 1997, modified by Modification of Lease dated August 4, 1997,
modified by Second Modification of Lease dated October 30, 1997 modified by
Third Modification of Lease dated July 15, 1998, and modified by Fourth
Modification of Lease dated August 17, 1998

 

 

LEASED PREMISES:

Suites 300 and 400 on the 3rd and 4th Floors; Suites 500 and 600 on the 5th and
6th Floor by Modification of Lease; Suite 700 on the 7th Floor by Second
Modification of Lease; and Suite 800 on the 8th Floor by Fourth Modification to
Lease.

 

 

OFFICE BUILDING:

The Lenox Building

 

 

EFFECTIVE DATE OF FIFTH MODIFICATION:

August 4, 1997

RECITALS

          WHEREAS, Landlord and Tenant entered into that certain Agreement of
Lease dated March 3, 1997 (the “Original Lease”), Modification of Lease dated
August 4, 1997, Second Modification of Lease dated October 30, 1997, Third
Modification of Lease dated

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July 15, 1998 and Fourth Modification of Lease dated August 17, 1998 (the
Original Lease, as so amended, together the “Lease”);

          WHEREAS, Landlord and Tenant desire to amend the Lease to clarify
their mutual understanding with respect to the termination dates for the
respective portions of the various premises occupied by Tenant, and have agreed
to amend the Lease for such purpose in accordance with the terms of this Fifth
Modification.

AGREEMENT

          NOW, THEREFORE, in consideration of the mutual covenants herein
contained it is hereby agreed as follows:

 

1.

At Article I of the Lease, “Term” is hereby deleted in its entirety and replaced
with the following:

 

 

 

 

 

 

 

Term.

 

As to Suites 300 and 400 (the Premises as defined in the Original Lease), that
period of time commencing on the Commencement Date (as stipulated in said
Original Lease) and expiring on August 31, 2007.

 

 

 

 

 

 

 

 

 

As to Suites 500 and 600 (the Additional Space as defined in the Modification of
Lease), that period of time commencing on the Effective Date (as defined in said
Modification of Lease) and expiring on August 31, 2007.

 

 

 

 

 

 

 

 

 

As to Suite 700 (the Additional Space II as defined in the Second Modification
of Lease), that period of time commencing on the Effective Date (as defined in
said Second Modification of Lease) and expiring on August 31, 2007.

 

 

 

 

 

 

 

 

 

As to Tenant’s right to install and maintain the Generator System (as defined in
the Third Modification to Lease), that period of time commencing upon the Date
of Agreement (as stipulated in said Third Modification to Lease) and expiring on
August 31, 2007.

 

 

 

 

 

 

 

 

 

As to Suite 800 (the Additional Space III as defined in the Fourth Modification
to Lease), that period of time commencing on the Effective Date (as defined in
said Fourth Modification to Lease) and expiring on August 31, 2006.

 

 

 

 

 

 

2.

Except as provided herein, all of the terms, conditions and covenants of the
Lease, including all items of additional rent, termination date and rights to
renewal shall remain the same and in full force and effect.

 

 

 

 

 

 

3.

Capitalized terms used herein and not otherwise defined shall have the meanings
ascribed to them in the Lease.

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4.

Landlord and Tenant acknowledge that this Fifth Modification does not extend the
Term, and in the event any brokerage commissions are due pursuant to this Fifth
Modification, such shall be the sole obligation of Tenant and, as such, Tenant
shall fully indemnify Landlord from and against any claims which might arise
thereby.

          IN WITNESS WHEREOF, Landlord and Tenant have executed this Fifth
Modification as of the day and year first above written.

 

TENANT:

 

 

 

 

 

PREMIERE COMMUNICATIONS, INC.,
a Georgia corporation

 

 

 

 

 

By:

/s/ PATRICK G. JONES

 

 

 

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Print Name:

Patrick G. Jones

 

 

Title:

Sr VP

 

 

 

 

 

 

LANDLORD:

 

 

 

 

 

THE RETAIL PROPERTY TRUST,
a Massachusetts business trust

 

 

 

 

 

 

By:

/s/ DAVID SIMON

 

 

 

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Print Name:

David Simon

 

 

Title:

President & CEO

 

 

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SIXTH MODIFICATION OF LEASE

 

THIS SIXTH MODIFICATION OF LEASE (this “Sixth Modification”) is entered into as
of the ___ day of ______, 1999 by and between The Retail Property Trust, a
Massachusetts business trust, successor in interest to Corporate Property
Investors, (“Landlord”) and Premiere Communications, Inc., a Florida corporation
(“Tenant”).

 

 

LANDLORD NAME AND ADDRESS:

THE RETAIL PROPERTY TRUST
115 West Washington Street
Indianapolis, Indiana 46204

 

 

TENANT NAME AND ADDRESS:

PREMIERE COMMUNICATIONS, INC.
3399 Peachtree Road, N.E.
The Lenox Building
Suite 600
Atlanta, Georgia 30326

 

 

DATE OF LEASE:

Executed March 3, 1997, modified by Modification of Lease dated August 4, 1997,
modified by Second Modification of Lease dated October 30, 1997, modified by
Third Modification of Lease dated July 15, 1998, modified by Fourth Modification
of Lease dated August 27, 1998, and modified by Fifth Modification of Lease
dated April 1, 1999.

 

 

LEASED PREMISES:

Suites 300 and 400 on the 3rd and 4th Floors; Suites 500 and 600 on the 5th and
6th Floor by Modification of Lease; Suite 700 on the Floor by 7th Floor by
Second Modification of Lease; and Suite 800 on the 8th Floor by Fourth
Modification to Lease.

 

 

OFFICE BUILDING:

The Lenox Building

 

 

EFFECTIVE DATE OF SIXTH MODIFICATION:

____________________________________

 

 

RECITALS

          WHEREAS, Landlord and Tenant entered into that certain Agreement of
Lease dated March 3, 1997 (the “Original Lease”), Modification of Lease dated
August 4, 1997, Second Modification of Lease dated October 30, 1997, Third
Modification of Lease dated July 15, 1998, Fourth Modification of Lease dated
August 27, 1998, and Fifth Modification of Lease dated April 1, 1999 (the
Original Lease, as so amended, together the “Lease”);

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          WHEREAS, Landlord and Tenant desire to amend the Lease to set forth
and clarify their mutual understanding with respect to the Leased Premises and
the additional premises on the tenth (10th) floor. Landlord and Tenant have
agreed to amend the Lease for such purposes in accordance with the terms of this
Sixth Modification.

AGREEMENT

          NOW, THEREFORE, in consideration of the mutual covenants herein
contained it is hereby agreed as follows:

 

1.

At Article I of the Lease, “Term” is hereby amended to include Suite 1000 of
approximately 7,396 square feet on the tenth floor, as designated on Exhibit A
attached hereto.  Such Suite 1000 shall be leased by Tenant, commencing May 15,
1999 and expiring on May 31, 2001, at the Fixed Rent rate of Twenty-five and
no/100 Dollars ($25.00) per square foot, such Fixed Rent rate to be $184,900.00
per year, payable in advance in equal monthly installments of $15,408.33.

 

 

 

 

2.

Provided Tenant is not then in default of its obligations hereunder, Tenant
shall have the right to extend the Term for this Suite 1000 for two (2)
consecutive terms of one (1) year each, such option term(s) to be exercised, if
at all, not later than nine (9) months prior to the conclusion of the then
existing Term (including the first option, if exercised), provided, however, in
no event may either option be exercised sooner than twelve (12) months prior to
the then existing Term. In the event Tenant exercises its option(s), Landlord
shall, within thirty (30) days after receipt of Tenant’s election notify Tenant
as to the then current fair market value of Suite 1000 and such shall be deemed
to be the Fixed Rent rate. Landlord and Tenant acknowledge that Tenant will pay
its proportionate share of all increases in rent as otherwise set forth in
Section 3.2 of the Lease, utilizing a base year of 1999, Tenant’s Pro Rata Share
for Suite 1000 to be Two and 2/100 percent (2.02%).

 

 

 

 

3.

Except as provided herein, all of the terms, conditions and covenants of the
Lease, including all items of additional rent, termination date and rights to
renewal shall remain the same and in full force and effect, and shall apply to
Suite 1000 as otherwise set forth in the Lease.

 

 

 

 

4.

Capitalized terms used herein and not otherwise defined shall have the meanings
ascribed to them in the Lease.

 

 

 

 

5.

Landlord and Tenant acknowledge that this Sixth Modification does not extend the
Term. Brokerage commissions are due pursuant to this Sixth Modification, to
Cushman & Wakefield in the amount of Two percent (2%) per a separate Commission
Agreement.

 

 

 

          IN WITNESS WHEREOF, Landlord and Tenant have executed this Sixth
Modification as of the day and year first above written.

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TENANT:

 

 

 

PREMIERE COMMUNICATIONS, INC.,
a Florida corporation

 

By:

/s/ JEFFREY A. ALLRED

 

 

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Print Name:

JEFFREY A. ALLRED

 

Title:

Pres &COO

 

 

 

 

LANDLORD:

 

 

 

THE RETAIL PROPERTY TRUST,
a Massachusetts business trust

 

 

 

By:

/s/ DAVID SIMON

 

 

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Print Name:

David Simon

 

Title:

President & CEO

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