EXHIBIT 1

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Exhibit 1 to Bassett Declaration Page 1 of 14
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Gary Lee

Morrison & Foerster

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Morrison & Foerster

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' ': \' c 

Contract No. A-767 

LEASE CONTRACT 

THIS LEASE CONTRACT, made and entered 1ntn aR nf the 

First day of October, 1992, by and 

between the Public Buildings Authority as Lessor 

(hereinafte1· sometimes called the "Authority") and 

The Municioal Revenue CnllRctinn Center of the 

Commonwealth of Puerto Rico (hereinafter sometimes 

called the ''Lessee''). 

W I T N E S S E T H 

WHEREAS, by Act No. 56 of the Legislature of Puerto Rico, 

approved June 19, 1958, as amended (hereinafter sometimes called 

the ''Enabling Act''), the Public Buildings Authority was created as 

a body corporate and politic constituting an instrumentality of the 

Commonwealth of Puerto Rico (herein cal led the "Commonwealth") 

exercising public and essential government.al funct i ens, for the 

purpose, among others, of providing and operating office buildings, 

quarters, courts warehouses, shops and related facilities 

(hereinafter sometimes called ''office buildings" or ''public office 

buildings'') for lease to any department agency, instrumentality or 

municipality of the Commonwealth; and 

WHEREAS, the Enabling Act authorizes any department, agency, 

instrumentality or municipality of the Commonwealth to enter into 

a lease contract or contracts with the Authority for all or any 

part of any office building or facilities thereof owned or operated 

by the Authority and to perform and execute, with the approval of 

the Governor of Puerto Rico or the official designated by him for 

such purpose, any and all acts or agreements, stipulations, 

contracts and transact i ens that may be necessary, convenient or 

desirable to perform any such lease contract and to provide for the 

payment or settlement of any obligation of said department agency 

instrumentality or municipality; and 

WHEREAS, the Authority pursuant to the Enabling Act is 

financing the cost of constructing certain public office buildings 

and related facilities by bank loans (hereinafter called the "bank 

loans") under a revolving line of credit with Banco Popular and 

Morgan Guaranty Trust Company of New York; and 

WHEREAS, the Authority has completed the construction of an 

office building and related facilities located at EsteveR Street 

CornRr MuAoz Rivera Street in the Municipality of Aguadilla Puerto 

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Morrison & Foerster

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Gary Lee

Morrison & Foerster

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Rico, genera 11 Y described as Aauad i 11 a Government r.entR r (said 

office building o_nd related fe_cilities being hereinafter called 

''Office Building No. PBA-2030'') containing total rent.able snace of 

134.800 square feet, which Office Building No. PRA-?030 and ntner 

office buildings and facilities constructed under the Enabling Act 

by Authority are to be leased to departments, agencies, 

instrumentalities and municipalities of the Commonwealth 

(hereinafter collectively called the ''Government Lessees''); and 

WHEREAS, the Authority desires to lease to the Lessee and the 

Lessee desires to lease from the Authority 11.832 square feet of 

space in Office Building No. PRA-2030, which constitutes R.78% of 

the total rent.able space in Office Building No. PBA-2030 leased or 

to be leased to all Government Lessees (such percentage as the same 

may be changed as hereinafter provided, being hereinafter called 

the "Lessee's space percentage''); and 

WHEREAS, the Authority intends to issue or has issued its bond 

anticipation notes (hereinafter called ''bond anticipation notes'') 

in a principal amount equal to the total amount of such bank loans 

which were applied to the payment of the cost of Office Building 

No. PBA-?030, including the interest on such loans, and to apply 

the proceeds of such notes to the payment of such bank loans; and 

WHEREAS, the interest on the bond anticipation notes will be 

paid from the rentals to be paid by the Government Lessees and the 

principal of said notes will be paid either from the proceeds of 

the bonds (hereinafter called the "bonds") to be issued by the 

Authority or from the rentals to be paid by Government Lessees or 

from both said bond proceeds and rentals, as the Authority shall 

determine, and the principal of and the interest on such bonds 

shall be payable from rentals received by the Authority from the 

leasing of public office buildings and related facilities pursuant 

to the Enabling Act; 

NOW, THEREFORE, for and in consideration of the mutual 

promises, covenants and agreements and other good and va 1uab1 e 

consideration, the Authority and the Lessee agree as follows: 

AR.TICLE I 

LEASE TO LESSEE: TERM 

Section 1.01. Space Leased . The Authority hereby demises, 

leases and rents to the Lessee, and the Lessee hereby takes, 

accepts and rents from the Authority, upon and subject to the 

terms, covenants and conditions he re i nafte r stated, ( i ) 11 , 832 

square feet of space in Office Building No. PBA-2030 being 8.78% 

of the to ta 1 rent.ab 1 e space thereof, consisting of the o.r-eas 

outlined in red on the architect's floor plans attached hereto and 

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Gary Lee

Morrison & Foerster

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Morrison & Foerster

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rna_rked "E_x_h i bit A" and made a part. het-eof and (ii) and eour:3 l 

percentage of all ot.her spe_ce; ArPri~ grounds ri_nd facl l it~e2 

financed as, and constituting, 8 n8rt of Office Building 

No. PBA-2030. All of such space and other property so leased under 

this Lease Contract shall be occupied and used by the Lessee for 

offices and all other purposes as specified in the Enabling Act for 

its officers and employees in the performance of its ft.met.ions. 

The lease of such spe.c:e and other property under this Leese 

Contract shall be for a term of thirty (30) years beginning on the 

date first above written and ending on September 30, 20?2. 

Section 1 .02. Additional Scace. The Lessee, at its request, 

with the approval of the Governor or the officer whom he may 

delegate, and subject to the terms and conditions of this Lease 

Contract, may lease any additional rent.able space that from time 

to time may be available in Office Building No. PBA-2030 for the 

authorized use mentioned in Section 1.01 hereof (the total space 

leased by the Lessee at any time under this Lease Contract being 

hereinafter called the ''Lessee's space''). 

Section 1 .03. Other Occupancy. For the purposes of 

determining the total rentable space and the Lessee's space 

percentage, there shall be excluded any space in Office Building 

No. PBA-2030 which shall be leased or otherwise made available from 

ti me to ti me for LJse and occupancy by others than Government 

Lessees, 

Section 1.04. Authoritv'R Riaht to ReRcind Lease Contract. 

Should the Authority deem it necessary this contract may be 

rescinded and Lessee requested to negotiated a new one, upon giving 

at least ninety (90) days written notice in advance. 

ARTICLE II 

RENTALS PAYABLE 

Section 2.01. Annual Rental The Lessee covenants and agrees 

to pay not later that the dates hereinbelow specified, to the 

Authority as rent for the Lessee's space during the term of this 

Lease Contract a total rental (herein cal led the "Rental") which 

in each year of such term shall be the sum of the following: 

(a) the amount (in each year) of $38.489.45 (herein 

called the ''Debt Service Rental'') for the proportionate 

portion, under the Enabling Act, of the total interest, 

principal and amortization requirements of the bonds 

payable in such year allocated to the Lessee hereunder, 

and 

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Morrison & Foerster

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(b) an amount (in each year) equal to the Lessee's share 

of the expenses of operation and maintenance for such 

year of Office Building No. PRA-2030 (herein called the 

"Operating Rental"), which amo1Jnt has been reosonable 

estimated to be and shall, for the purposes hereof, be 

a minimum of $3.530919 per square foot for each square 

foot. of Lessee's space in stJr.h year; subject. to such 

adjustments""' are provided in this Lease Cont.ract, 

including the succeeding Section hereof. 

Section 2. 02. Adi ustments of Ope rat i na Rent.a 1 . The Lessee 

sha_l l also pa_y as Operat.ing Rent.o.l in each year during the term 

hereof such addi ti ona 1 amount, if any, equa 1 to a percentage, 

corresponding to the Lessee's space percentage, of the actua 1 

expenses incurred by the Authority for the operation and 

maintenance of Office Building No. PBA-2030 in such year in excess 

of the estimated amount equal to one dollar 1$1.001 per square foot 

of rentable space in said Building. Such additional amount shall 

be payable only after the Authority shall have given the Lessee at 

least thirty days written notice thereof. 

Section 2.03. Rental Installments The Rental for each year 

shall be paid tn the Authority by the Lessee in monthly 

installments of six thousand six hundred eightv eight dollars and 

94/100 ($6,688.94) payable on the last day of October. 1992 and on 

the last day of each month thereafter until and including September 

30, 2022. subject to any increase hereunder. 

Section 2. 04. Deposit of Debt Service Rent.a 1. The amount 

received as Debt Service Rental shall be deposited by the Authority 

in its name to the credit of appropriate accounts in a sinking fund 

in a bank located in New York, N.Y. selected by the Authority (such 

bank being hereinafter called the "New York Bank") and shall be 

held in trust and app 1 i ed for the so 1 e purpose of paying the 

interest on and the principal, including any redemption premium, 

of bond anticipation notes and bonds issued by the Authority under 

and secured by a bond resolution (hereinafter called the "Bond 

Resolution''), for the financing of Office Building No. PBA-2030 and 

such other public office buildings and related facilities as the 

Authority shall combine for financing purposes (al 1 such buildings, 

including Office Building No. PBA-2030, and facilities being herein 

cal led the "Project") and any additional public office buildings 

hereafter financed, and to pay any outstanding bank loans incurred 

by the Authority for such purposes. 

The Bond Resolution shall in any event be subject to approval 

as to form and substance by the Government Development Bank of 

Puerto Rico. 

Section 2.05. Deposit of Operatina Rental. The amount 

received as Operating Rental shall be deposited by the Authority 

in its name to the credit of an operating fund in a bank located 

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Morrison & Foerster

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1n Puerto Rico selected by the Authority (such bank being 

hereinafter called the ''Puerto Rican Bank'') and shall be used for 

the n11rnnse of paying the expenses of operation and maintenance of 

Office Building No. PBA-2030, including the replacement of 

equipment therein) and for maintaining reserves for such purpose. 

Section 2.06. Bonds for Proiect. When the bonds of the 

Aut.hnrit.v 1ss1Jed to pay the cost of the Project, including Office 

Building No. PBA-20~0. have been sold and delivered, the Authority 

shall promptly compute. 

IAl The amount of all costs incurred by the Authority 

including the expenses in connection with the issuance 

of such bonds, for the construction and equipment of each 

of the building in the Project and the percentage which 

the cost of Office Building No. PBA-2030 bears to the 

total cost of the entire Project (such percentage being 

hereinafter called the "Office Building No. PBA-2030 cost 

percentage" ) 

(b) the maximum amount which the Authority is required 

to provide in any year pursuant to the provisions of the 

Bond Resolution on account of the payment of the interest 

on and principal, including redemptions premiums, of the 

bonds issued to pay the cost of the Project (such amount 

being hereinafter called the "maxim1im debt service 

requirements''), and 

(c) the amount equal to the Office Building No. PBA-2030 

cost percentage of the maximum debt service requirements 

(such amount being hereinafter called the ''Office 

Building No. PBA-2030 debt service''), 

Section 2.07. Adiustments of Debt Service Rental. The Debt 

Service Rental for each set forth in clause (a) of Section 2.01 of 

this Article shall, following the making of the computations in the 

preceding Section, be adjusted by the Authority so that the amount 

of the Debt Service Rental to be payable by the Lessee thereafter 

sha.11 be equal, as near as practicable, to the Lessee's space 

percentage of Office Building No. PBA-2030 debt service. 

Section 2.08. Additional Space. In the event that the Lessee 

or any other Government Lessee shall at any time lease additional 

space in Office Building No. PBA-2030 as permitted by Article I 

hereof, the Lessee's space percentage by the Lessee hereunder bears 

to the total amount of space in said Building leased to all 

Government Lessees, and the amount of the Debt Service Rental for 

each year sha 11 then be adjusted by the Authority so that the 

amount of the Debt Service Ren ta 1 to be pay a.bl e by the Lessee 

thereafter is equal, as nearly as practicable, to the Lessee's 

space percentage of Office Building No. PBA-2030 debt service. 

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Section 2.09. Surplus Debt Service Rent.3.ls. If the Debt 

Service Rentals received by the Authority from the Lessee and all 

other Government Lessees of Office Building No. PBA-2030 on the 

last day of any month, together with any Debt Service Ren ta 1 s 

therefore deposited in the New York and available for the purpose, 

exceeds the amount needed to pay the next maturing installment of 

interest on such portion of any outstanding bank. loans or bond 

anticipation notes issued to finance the cost of Office Building 

No. PBA-2030 or the amount which the Authority is required by the 

Bond Resolution to provide on the next .January 1 or .July 1, 

whichever is earlier, on account of the debt sei-vice of the 

principal amount of bonds issued by the Authority to pay such loans 

or bond anticipation notes and any remaining costs of Office 

Building No. PBA-2030, as the case may be, such excess sha 11 be 

deposited to the credit of the reserve account mentioned in Article 

I I I of this Lease Contract and applied as provided in the Bond 

Resolution, or shall be applied to the payment of outstanding notes 

of the Authority or deposited in the construction fund for payment 

of the costs of the Project or deposited to the credit of the Bond 

Service Account established by the Bond Resolution, as determined 

by the Authority. 

Section 2.10. Lease to Private Persons. The Authority may, 

pursuant to the provisions of said Act No. 56, lease space in 

Office Building No. PBA-2030 or make space available therein to 

private persons, Tlrms, corporations or entities other than 

Government Lessees. 

Section 2.11. Parkina. The Authority reserves the right to 

fix, charge and collect reasonable parking fees for the use of any 

parking facilities that may be provided as part of Office Building 

No. PBA-2030. 

Section 2.12. Other Revenues. Revenues (other than Rentals) 

derived by the Authority from the leasing of space to private 

persons, firms, corporations or entities other than the Government 

Lessees and from the fixing, charging and collecting or parking 

fees and any other revenues derived by the Authority from its 

ownership or operation of Office Building No. PBA-2030 shal 1 be 

deposited as received to the credit of an appropriate account which 

shall be established under the Bond Resolution for use as a reserve 

for the operation, maintenance and repair of public office 

buildings of the Authority, including the replacement or equipment 

therein, or for other proper corporate purposes of the Authority. 

ARTICLE III 

DEBT SERVICE RESERVE ACCOUNT 

Section 3.01. Reserve Account. In order to establish a 

reserve for the payment of the principal of and the interest on 

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Morrison & Foerster

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. ..,, :}n 11rls issued under t.he Bone Resnl!J7.i::r: (i::c.::1ding 1-sd2::-1!'~·~nn 

prer111H:1) t.hA Authnr1ty w1 l-1 oeposit frorn the p:oceeds nf t.he bonds 

or from other available funds to the credit of a reserve account 

(hereinafter called the ''reserve account'') in the New York Bank an 

amount eqlJal to ~0% of the sum of the maximum Debt Servi~e Rentals 

on account of the Project, including Office Building No. PRA-?030. 

in e_ny year" 

Section .3. 02" RARP.rVP. _A_r.r.ount. Fxcess, If t.he money in the 

reserve ar.count shall at any time exceed the maximum requirements 

t.herefor ns fixed by t.he Bond Resolut.ion; such excess rno_y be 

applied by the Authority to the retirement of notes or bonds issued 

hv t.hP. At1t.hnr it. v nr m" v he ann l i P.ci t.n t.he constructions of office b~1ilding~: Th~, s;.Jr-plu'.s,- if-,-~ny.--re-~ai-ning to the credit of s1Jch 

or other account when a 11 bonds and other ob 1 i gat ions 1.rnder the 

Bond Resolution have been paid shall be applied to the redl1ction 

of the final installments of Rent.al payable oy the Lessee under 

this Lease Contract. 

ARTICLE IV 

MAINTENANCE AND OPERATION OF OFFICE BUILDING 

Section 4.01. Reaulations of Authoritv. The Lessee shall 

comply with all rules and regulations that may be adopted from time 

to time by the Authority, after giving the Lessee an opportunity 

to be heard in connection therewith, respecting the use and 

occupancy of Office Building No. PBA-2030. 

Section 4.02. Lessee's Services. The Authority shall operate 

Office Building No. PBA-2030 in an efficient and economical manner 

and shall maintain it in a good state of repair. The Lessee shall 

be responsible for providing at its own expense adequate cleaning, 

janitorial and caretaker services on account. of the areas outlined 

in red in Exhibit A, which services shall be performed under the 

general supervision of the Authority; provided, however, that upon 

the written request of the Lessee, the Authority with the approval 

of the Governor or the off~cer whom he may delegate; may provide 

such services and the expense thereof incur red by the Authority 

wi 11 be added to the Operating Ren ta 1 pay ab 1 e by the Lessee 

hereunder. 

Section 4.03. Authoritv's services. _All other expenses of 

operating, maintenance and repairing Office Building No. PBA-2030 

shall be paid by the Authority from the Operating Rentals received 

by the Authority for the payment of such expenses and expenses of 

the Project allocable to Office Building No. PBA-2030 shall be 

allocated upon a fair and reasonable basis. Such expenses (herein 

sometimes called ''operating and maintenance expenses'') shall 

include, but shall not be limited to, expenses of providing air 

conditioning, elevator services, security, trash disposal, water, 

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sler.~ricity expenses of cleaning: janitorial and ~aretaKer services 

not reoui red to he nrnvirlArl hv t.hP GnvA~~nrr:Pnt. : ASSP.P.s_ rAnni rs t.r: 

Office 'Buildina No.' PBA_:io.-::o' ri~ri-thP. ;.oui~m~nt--of--;h" ,;.;Jtho~it~ 

therein; rep 1 a;.ement .of su~h- eOu i p~e~t ,- ·~e;~;ve-s -for - e~_pe~;e~ n~i:. 

annually recurring for- it.ems of general rna_intenance; repe_i r and 

replacement a_drninistrat.ive expenses of t.he Authority, insuranr.e 

premiums, fees and expenses of the bond trustees and paying AgAnts 

and other expenses in connection with the payment of the principal 

a_nd i nt.erest on such bonds issued by the Authority; including 

redemption premiums, and the administration of the trust.s created 

in connection with such bonds, legal and auditing expenses, and any 

other expenses which the Authority may be required to pay by law 

in connection with its ownership of Office Building No. PBA-20~0. 

but shall not include the expense of providing telephone and other 

communication facilities, 

Section 4.0J.. I imit.at.inn aR t.n FxnPnReR. The Authority agrees 

that the operating and maintenance expenses in any fiscal year will 

not exceed the reasonable and necessary amount thereof. 

Section 4.05. Records and Accounts. The books, accounts and 

records of the Authority pertaining to the Project shall be open 

at all times for inspection by the Lessee and shall be subject to 

periodic audit by appropriate officials of the Commonwealth. 

ARTICLE V 

OBLIGATION TO PAY RENTALS 

Section 5.01. Unconditional Obliaation. The Lessee agrees 

that its obligation to pay Rentals for the full term of the lease 

under this Lease Contract at the times and in the amounts specified 

in this Lease Contract shall be absolute and unconditional and 

shall cnntinue whether or not Office Building No. PBA-2030, or any 

part thereof, be damaged or destroyed from any cause whatsoever or 

otherwise becomes unusable by the Lessee for any period of time and 

rP.ar.irrllps.c:; of r=inv nt.hPr c:nusP nf r.inv nrit.tJrF:_ inr.::lurlina hut. nnt. - ...., -- -· . - - - - -· ., - - . - . - -- .. - - - -- ., ' -- - . - , .. - - - _. - -· - - -

limited to any default by the Authority under this Lease Contract. 

Section 5.02. Rental Insurance. The Authority shall, however, 

at the request and expense of the Lessee, obtain insurance to cover 

the Rentals during periods when, as the result of damage or 

destruction, said Building or portions thereof become unusable by 

the Lessee. Such insurance, to the extent commercially obtainable, 

shall be in such amounts and for such periods of time as the Lessee 

shall specify and any proceeds received by the Authority from such 

insurance shall be credited against the Rentals otherwise payable 

by the Lessee under this Lease Contract. 

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Morrison & Foerster

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ARTICLE VI 

INSURANCE 

Section 6.01. Insurance Against Loss or Damaae. The Authority 

shall keep Office Building No. PBA-20::10, including all equipment 

of the ~d)thority therein, ins1)red with a responsible insurance 

company or companies qualified under the lows of the Commonwealth 

of Puerto Rico to assume the risks thereof against physical loss 

or damage, howsoever caused, with such exceptions as are ordinarily 

required by insurers of buildings of a similar t.ype; t.o t.he full 

insurable value thereof. 

Section 6.02. Application of Proceeds. The proceeds of all 

sur.h insurance shall be applied to the repair, reconstruction or 

replacement on the same or on a different site of the damage or 

destroyed property or to the purchase or redemption of bonds, as 

the Authority shall determine. 

Section 6. 03. Comprehensive Li abi 1 i tv Insurance. The 

Authority shall also maintain such comprehensive public liability 

insurance on Office Building No. PBA-2030 with a responsible and 

qualified insurance company or companies in such amounts as the 

Authority shall determine is necessary to protect it against loss 

on account of liability for injury or damage to persons or property 

resulting from its ownership or operation of Office Building No. 

PR.A-2030. 

Section 6.04. Insurance Cost .. All costs incurred by the 

Authority for insurance under this Article shall be deemed to be 

operating and maintenance expenses. 

ARTICLE VII 

MISCELLANEOUS 

Section 7 .01. Alterations and Improvements. The Authority 

will upon the request and at the expense of the Lessee make such 

alterations, modifications or improvements to the Lessee's space 

in Office Building No. PBA-2030 as are so requested by the Lessee 

and approved by the Authority; it being agreed and understood by 

the parties hereto, that all such alterations, modifications and 

improvements made by the Authority at the request and expense of 

the Lessee shall be and become the property of the Authority; it 

being further agreed and understood that all alterations, 

modifications and improvements to the rented space must be done as 

aforesaid and with the prior written consent of the Authority. 

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Section 7.02. Records. The Authority shall keep the accounts 

relating to Office Bt.J1 lding No, PBA.-2030 separa_te from al i other 

accounts of the Authority o.nd shal 1 keep e.ccurate records and 

accounts of all items of cost relating to Office Building No. PBA.-

2030 and of the Rent.al s, Reserve A.mounts and any other revenues on 

account of Office Building No. PBA-2030 collected and the 

application thereof. 

Section 7.03. Covenant Aaainst Assianment. This Lease 

Contract may not be assigned or otherwise transferred in whole or 

in part by the Lessee except to a department, agency or 

instrumentality of the Commonwealth of Puerto Rico and subject in 

each case to the prior approval of the Authority and of the 

Governor or the Officer whom he may delegate. 

Section 7 .04. Settlement of nisputes. In the event of any 

di sputa between the Authority and the Lessee as to any of the 

provisions of this Lease Contract the matter shall be submitted to 

the Governor of the Commonwealth of Puerto Rico or the officer whom 

he may delegate, for his determination. When such dispute shall 

be decided by the Governor or the officer whom he may delegate, the 

Authority and the Lessee shall be bound by such determination. 

Section 7.05. Benefits. This Lease Contract shall inure to 

the benefit of and be binding upon the parties hereto, their 

successors and assigns, and shall also inure to the benefit of the 

holders of bonds issued by the Authority under the provisions of 

the Bond Resolution for the financing of Office Building No. PBA2030 and other public office buildings, as their respective 

interests may appear. 

Section 7.06. Conflict with Bond Resolution. Notwithstanding 

any of the foregoing provisions of this Lease Contract it is 

expressly understood that in the event of any conflict between the 

provisions contained in this Lease Contract and in the Bond 

Resolution, the provisions contained in the Bond Resolution shall 

be controlling. 

IN WITNESS WHEREOF, Public Buildings Authority has caused this 

Lease Contract to be executed in its name and behalf by Mr. Luis 

Rafael Arias its Executive Director, and its corporate seal to be 

hereunto affixed and attested by Mr. Claudio Ocasio-Roias its 

Secretary, and Municipal Revenue Collection Center of the 

Commonwealth of Puerto Rico has caused this Lease Contract to be 

executed in its name and behalf by Mr. Irvin A. Faccio, its 

Executive Director, thereunto duly authorized, as of the day and 

year first above written. 

The attached Rider No. consisting of seven (8) pages, 

entitled "General Dispositions Not Provided in Standard Form of 

Lease Contract of Office Building No. PBA-2030 But Forming a Part 

Hereof'' is part of this Contract. 

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Morrison & Foerster

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Morrison & Foerster

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LESSEE 

7 

I 

l BY~~~~-+~~-+~-r---~~~-

Irvin A. ~~-Scio 

Execltive ~~ctor 

1 1 

PUBLIC BUILDINGS AUTHORITY 

(Sea 1 ) 

Attest: 

~£ '----'.: C 1 audio Ocasio-Rojas 

Secretary 

The foregoing Lease Contract Number A-767, is hereby approved 

this day of 19~-

-~ 

AUTHORIZED REPRESENTATIVE OF THE 

COMMONWEALTH OF PUERTO RICO 

Carlos Soler Aquino 

R":rxm:b< il ~)f)( Xil4 lW<IXK~ el!1X l<M<ll 11\:gle 

Administrator 

GENERAL SERVICES ADMINISTRATION 

Case:17-03283-LTS Doc#:2586-2 Filed:02/23/18 Entered:02/23/18 23:29:25 Desc:

Exhibit 1 to Bassett Declaration Page 12 of 14
confidential

Gary Lee

Morrison & Foerster

Jul 26, 2017 10:36

confidential

Gary Lee

Morrison & Foerster

Jul 26, 2017 10:36

I 

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c-.:oniract No. A-767 

Addendum No. 03 ! 

Project f\lo. 2030 

ADDENDUM TO THE LEASE CONTRACT MADE 

A/\ID ENTERED BY ANO BETWEEN THE 

PUBLIC BUILOllVGS AUTHORITY, AS LESSOR, 

A/\10 THE MU/\llCIPAL REVENUE COLLECTION CE'JTER 

AS LESSEE 

!!,.I fn consideration of the n-1utual promises, covenants and ag,-een1ents and other 

good and valuable consideration as stated in the contract above mentioned, The 

Public Buildings Authoritv and The Municipal Revenue Collection Center hereby agree i I to amend said contract as herein below specified: 

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1 The portion of Section 1.01 after the words 'ending on is hereby amended to 

read as follows until and including July 1, 2022, subject to any increase 

hereunder". 

2 The portion of Section 2.03 after the words "on the last day of each month 

thereafter'' is hereby amended to read as follows; until and including 

July 1, 2022, subject to any increase hereunder". 

3. All other dispositions contained in the above-mentioned Lease Contract shall 

remain unaltered. 

This Addendum is made patt of the "Contract" above written.· 

Executed by Public Buildings Authority and The Municipal Revenue Collection 

Center on May 2006, and caused to be effective on May 1, 2006. 

LESSEE 

CPA Norm'/;n E Pay, Esq. 

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Executlve D1r~~tor 

~1. tD\l lli(J 

1 (SEAL) , •' ' •.• I ." 

11 ATTEST' '", 

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T!?e foregoing Addendurn Nurnber 03 to the Lease Contract Nurnber A-767 is hereby 

approved this _)Q_ day of June 2006 

AUTHORIZED REPRESENT AT/VE OF THE 

COMMONWEAL 1 PUERTO RICO 

/ J/'71JU],/' 

Evelyn Melia fv1ui7iz 

Acting Administrator 

General Services Adtninistration 

Case:17-03283-LTS Doc#:2586-2 Filed:02/23/18 Entered:02/23/18 23:29:25 Desc:

Exhibit 1 to Bassett Declaration Page 13 of 14
confidential

Gary Lee

Morrison & Foerster

Jul 26, 2017 10:36

confidential

Gary Lee

Morrison & Foerster

Jul 26, 2017 10:36

I CON TR Pray 

A764 02070 

A765 02560 

A767 02030 

A770 02480 

AUTORIDAD DE EDIFICIOS PUBLICOS 

CONTRATOS DE ARRENDAMIENTOS VIGENTES 

ENMIENDAS EXTENSION DE FECHAS DE VENCIM!ENTO 

AGENCIA DESCRJPCJON 

CENTRO DE REC. DE INGRESOS MUNI. CENTRO GUB. DE ARECIBO 

CENTRO DE REC. DE INGRESOS MUNI. CENTRO GUB. DE PONCE 

CENTRO DE REC. DE INGRESOS MUNI. CENTRO GUB. DE AGUADILLA 

CENTRO DE REC. DE INGRESOS MUNI. CENTRO GUS. DE MAYAGUEZ 

FECHA DE VENCIMIENTO 

7/1/2022 

7/1/2021 

7/112022 

7/112022 

Case:17-03283-LTS Doc#:2586-2 Filed:02/23/18 Entered:02/23/18 23:29:25 Desc:

Exhibit 1 to Bassett Declaration Page 14 of 14