EXHIBIT 2

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Contract No. A-1008 

LEASE CONTRACT 

This Lease Contract made and entered into as of the first day of August 1, 2009 by and 

between the Public Buildings Authority as Lessor (hereinafter called the "Authority") and The 

South Central Area of Investment in Labor Force (ASIFAL) of the Commonwealth of Puerto 

Rico (hereinafter called the "Lessee"). 

WITNESS ETH: 

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 called the "Commonwealth") exercising public and 

essential governmental functions, for the purpose, among others, of providing and operating 

office buildings, headquarters, 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 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 transactions 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 has completed the construction of the facility described in 

Exhibits A to this Lease Contract facility being hereinafter called the "Lease Facilities") to be 

leased to the Lessee; and 

WHEREAS, the Authority completed the construction of an office building and related 

facilities located at State Road #538 in the Municipality of Santa Isabel, generally described as 

a three storied building (said office building and related facilities being hereinafter called 

"Office Building No. 02660 containing total rentable space of 17,470 square feet, which Office 

Building No. 02660 and the office building and facilities constructed under the Enabling Act by 

Authority are to be lease to department, agencies, instrumentalities and municipalities for 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 3,534 square feet of space in Office Building No. 02660, which constitutes 

20.2289% of the total rentable space in Office Buildings No. 02660 leased or to be leases to all 

Government Lessees (such percentage as the same may be changed as hereinafter provided, 

being hereinafter called the "Lessee's space percentage"); and 

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

(hereinafter called "bond anticipation notes") in a principal amount to the total amount equal to 

the total amount of such bank loans which were applied to the payment of the cost of Office 

Building No. 02660, 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 under 

Resolution No. 468 adopted by the Authority on June 22, 1995 (such Resolution No. 468, 

together with all resolutions supplemental thereto duly adopted as permitted there in, being 

hereinafter call the "Bond Resolution") 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 

agreement and other good and valuable consideration, the Authority and the Lessee agree as 

follows: 

ARTICLE 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 hereinafter stated, (i) 3,534 square feet of space in Office 

Building No. 02660 being 20.2289% of the total rentable space thereof, consisting of usable 

areas (ii) and an equal percentage of all other space, areas, grounds and facilities financed as, 

and constituting, a part of Office Building No. 02660 All of such space and other property so 

leased under this Lease Contract shall be occupied and used by the Lessee for office and all 

other purposes as specified in the Enabling Act for its officers and employees in the 

performance of its functions. The lease of such space and other property under this Lease 

Contract shall be for a term of 13 years and 2 month, beginning on the date first above written 

and ending on Julv 1, 2022. 

Section 1.02: Additional Space. The Lessee, at its request, with 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 rentable space that from time to time may be 

available in Office Building No. 02660 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 percentage, there shall be excluded any space in Office Building 

No. 02660 which shall be leased or otherwise made available from time to time for use and 

occupancy by others than Government Lessees. 

Section 1.04: Authority's Right to Rescind Lease Contract. Should the authority deem it 

necessary this contract may be rescinded and Lessee requested- to negotiate a new one, upon 

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

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ARTICLE II 

RENTALS PAYABLE 

Section 2.01: Annual Rental. The Lessee covenants and agrees to pay not later than 

the dates herein below specified, to the Authority as rent for the Lessee's space during the term 

of this Lease Contract a total rental (herein called the "Rental") which in each year of such term 

shall be the sum of the following: 

(a) the annual amount on account of the principal of and interest on outstanding Notes 

(the "Note Service Rental") 

(b) commencing with the month immediately following the month in which the first series 

of bonds are issued, the Lessee's Proportionate Share (defined below) of such 

annual amount or amounts as shall be determined from time by the Authority to be 

necessary to pay the principal of $10,832.93 (including the Amortization 

Requirements as defined in the Bond Resolution) for the term bonds and the 

premiums, if any, for the redemption of such term bonds) and the interest on the 

Bonds as the same become due and payable (the "Debt Service Rental"); 

and amount of $4,707.07 (in each year) equai to the Lessee's share ofihe expenses 

of operation and maintenance for such year of Office Building No. 02660 (herein 

called the "Operating Rental"), which amount has been reasonable estimated subject 

to such adjustment as are provided in this Lease Contract, including the succeeding 

Section hereof. 

The term "Lessee's Proportionate Share" as used in this Lease Contract shall mean, at 

any particular time, the percentage determined by dividing the cost of the Lease Facilities 

payable from the proceeds of the bonds by the cost of all government facilities (as defined in the 

Bond Resolution) payable from the proceeds of all bonds, them outstanding under the Bond 

Resolution all as determined by the Authority. In the event that any proceeds of insurance 

received on account of the damage or destruction of any Government Facilities or any proceeds 

received from the sale or other disposition of any Office Buildings Facilities are applied to the 

retirement of any bonds, the Lessee's Proportion Share shall be adjusted by the Authority in 

such manner as the Authority shall determine is fair and equitable. 

Section 2.02: Adjustments of Operating Rental. The Lessee shall also pay as operating 

Rental in each year during the term hereof such additional amount, if any, equal to a 

percentage, corresponding to the Lessee's space percentage, of the actual expenses incurred 

by the Authority for the operation and maintenance of Office Building No. 02660 in such year in 

excess of the estimated amount equal to $1.00 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: Adjustment of Note Service Rental. In the event that additional Notes are 

issued by the Authority to finance temporarily any additional costs of the Lease Facilities, the 

Note Service Rental shall be increased by such amount as the Authority determines is required 

to pay the interest thereon and to amortize an amount equal to the principal of such additional 

Notes over a period of 30 years. Upon the retirement of any Notes from the proceeds of bonds 

or otherwise, the Note Service Rental shall be reduced by such amount as the Authority 

determines was included in the computation of such Rental on account of the principal of and 

interest on that principal amount of Notes which is so retired. 

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Section 2.04: Rental Installments. The rentals do each fiscal year shall be paid to the 

Authority by the Lessee in equal monthly installments payable on or before the last day of 

September 2009 and on the last day of each month thereafter until July 01. 2022; however, 

that in no event shall any monthly Installment of Debt Service Rental be less than the Lessee's 

Proportionate Share of the amount which is necessary under the Bond Resolution to provide, 

without an withdrawal or transfer from the Reserve Account in the Sinking Fund, if any (i) 

sufficient funds in the Bond Service Account in the Sinking Fund for the timely payment of the 

interest on all bonds then outstanding and the principal of all serial bonds then outstanding and 

(ii) sufficient funds in the Redemption Account in the Sinking Fund for the timely payment of the 

Amortization Requirements (as defined in the Bond Resolution) for the term bonds then 

outstanding. 

Section 2. 05: Deposit of Note Service Rental. All amounts received by the Authority as 

Note Service Rental shall be paid to Government Development Bank of Puerto Rico or 

deposited in the name of the Authority in an appropriate account in a bank designated by 

Government Development Bank for Puerto Rico and shall be applied to the payment of accrued 

and unpaid interest on the Notes issued to pay the cost of the Lease Facilities. Any amounts of 

such rental which is not needed to pa the interest on the Notes shall be applied to the payment 

of the principal on the Notes, and any balance of such rentals remaining after the payment of all 

Notes shall be applied to the payment of the cost of construction of the Lease Facilities or shali 

be deposited in he Bond Service Account or the Redemption Account in the Sinking Fund, at 

the option of the Authority. 

Section 2.06: Deposit of Debt Service Rental. All amounts received by the Authority as 

Debt Service Rental shall be immediately deposited with the Fiscal Agent under the Bond 

Resolution in accordance with the provisions thereof; provided, however, that the Authority at its 

discretion may return to the Lessee any portion of Debt Service Rental that the Authority has 

determined to be in excess of the amount then required to be on deposit in the Bond Service 

Account and the Redemption Account under the Bond Resolution. 

Section 2.07: Deposit of Operating 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 in Puerto Rico selected by the Authority (such being hereinafter called the "Puerto Rico 

Bank") and shall be used for the purpose of paying the expenses of operation and maintenance 

of Office Building No. 02660 , the replacement for therein, and for maintaining funds for such 

purpose. 

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. 02660 as permitted by 

Article I hereof, the Lessee's space percentage shall be recomputed on the basis which the total 

amount of space then leased by the Lessee hereunder bears to the total amount of space in 

said Building Leased to all Government Lessees, and the amount of Debt Service Rental for 

each year shall be adjusted by the Authority so that the amount of the Debt Service Rental to be 

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

percentage of Office Building No. PBA-02660 debt service. 

Section 2.09: Parking. 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. 02660. 

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Section 2.10: 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-02660 shall 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 Ill 

MAINTENANCE AND OPERATION OF OFFICE BUILDING 

Section 3.01 :. Regulations of the Authority. 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 occupancy of Office Building 

No. 02660. 

Section 3.02: Lessee's Services. The Authority shall operate Office Building No. 02660 

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 cieaning, janitorial and 

caretaker service on account of the usable areas, 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 of the office whom he may delegate, 

may provide such services and the expenses thereof incurred by the authority will be added to 

the Operating Rental payable by the Lessee hereunder. 

Section 3.03: Authority's Services. All other expenses of operating, maintaining and 

repairing Office Building No. 02660 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. 02660 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 cleaning, janitorial and caretaker services not required to 

be provided by the Government Lessees, repairs to Office Building No. 02660 and the 

equipment of the Authority therein, replacement of such equipment, funds for expenses not 

annually recurring for items of general maintenance, repair and replacement administrative 

expenses of the Authority, insurance premiums, fees and expenses of the bond trustees and 

paying agents and other expenses in connection with the payment of the principal and interest 

on such bonds issued by the Authority, including redemption premiums, and the administration 

of the trusts 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. 02660, but shall not include the expenses of providing telephone and other 

communication facilities. 

Section 3.04:. Limitation as to Expenses. The Authority agrees that the operating and 

maintenance expenses in any fiscal year will not exceed the reasonable and necessary amount 

thereof. 

Section 3.05:. 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. 

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ARTICLE IV 

OBLIGATION TO PAY RENTALS 

Section 4.01: Unconditional Obligation. 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 

specificied in this Lease Contract shall be absolute and unconditional and shall continue 

whether or not Office Building No .02660 , 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 

regardless of any other cause of any nature, including but not limited to any default by the 

Authority under this Lease Contract. 

Section 4.02: Rental Insurance. The Authority shall, however, at the request and 

expenses 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 obtained, shall be 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. 

ARTICLE V 

INSURANCE 

Section 5.01: Insurance Against Loss or Damage. The Authority shall keep Office 

Building No. 02660, including all equipment of the Authority therein, insured with a responsible 

insurance company or companies qualified under the laws of the Commonwealth of Puerto Rico 

to assume to risks thereof against physical loss or damage, howsoever caused, with such 

exception as are ordinally required by insurers of buildings of a similar type, to the full insurable 

value thereof. 

Section 5.02.:Application of Proceeds. The proceeds of all such 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 5.03: Comprehensive Liability Insurance. The Authority shall also maintain such 

comprehensive public liability insurance of Office Building No. 02660 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. 02660 

Section 5.04: Insurance Cost. All costs incurred by the Authority for insurance under this 

Article shall be deemed to be operating and maintenance expenses. 

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ARTICLE VI 

MISCELLANEOUS 

Section 6.01: 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. 02660 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. 

Section 6.02: Records. The Authority shall keep the accounts relating to Office Building 

No. 02660 separate from all other accounts of the Authority and shall keep accurate records 

and accounts of all of cost relating to Office Building No. 02660 and of the Rentals Funds 

Amounts and any other revenues on account of Office Building No. 02660 collected and the 

application thereof. 

Section 6.03: Covenant against Assignment and Restrictions on Subleasing. This Lease 

Contract may not be assigned or otherwise transferred in whole or in part by the Authority or by 

the Lessee there under, unless the conditions set forth in Section 7.02 of the Bond Resolution 

for a termination of this Lease Contract have been met. All or any part of the Lease Facilities 

may be subleased as a whole or in part by Lessee if, any only if, the following conditions 

precedent shall have been met: 

(a) Unless otherwise permitted by the Bond Resolution, the sublessee under the 

sublease shall be a department, agency or instrumentality of the Commonwealth. 

(b) simultaneously with the execution and delivery of the sublease, the Lessee shall 

execute and deliver to the Authority an instrument in writing acknowledging, 

confirming and agreeing that the Lessee shall continue to remain liable for the 

payment of all rentals under this Lease Contract and for the performance and 

observance of all other obligation and agreements on its part therein provided to be 

performed and observed by it; 

(c) the sublease shall retain for the Lessee such right and interest as will permit it to 

perform and observe all of its obligation and agreements under this Lease Contract; 

(d) the sublease shall deliver to the Authority and the Lessee the certificates required 

under Section 710 (d) of the Bond Resolution and; 

(e) all authorizations, approvals and consents (governmental or otherwise) required for 

on connection with the execution, delivery and performance of the sublease shall 

have been duly obtained prior to or simultaneously with the execution and delivery of 

the sublease. 

Section 6.04: Settlement of Disputes. In the event of any dispute 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 

this determination, or submitted to the corresponding forum within jurisdiction. When such 

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

corresponding forum within jurisdiction, the Authority and the Lessee shall be bound by such 

determination. 

Section 6.05: Benefits. This Lease Contract shall inure to the benefits of and be binding 

upon the parties hereto, their successors and assigns, and shall also inure to the benefits of the 

holders of bonds issued by the Authority under the provisions of the Bond Resolution for the 

financing of Office Building No. 02660 and other public office building, as their respective 

interest may appear. 

Section 6.06:. Conflict with Bond Resolution. Notwithstanding any of the foregoing 

provision of this Lease Contract, it is expressly agreed and 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. 

Section 6.07:. Restrictions on Amendments and Modifications. No amendment or 

modification on this Lease contract shall in any respect reduce the amounts of the rental 

payment provided for herein below the required amounts referred to in the Bond Resolution or 

postpone the times of making such rental payments or otherwise materially and adversely affect 

the security or interest of the holders of the bond issued under the Bond Resolution. 

IN WITNESS WHEREOF Public Building Authority has caused this Lease Contract to be 

executed in its name and behalf by Jesus F. Mendez its Executive Director, and its corporate 

seal to be hereunto affixed and attested by its Secretary, Joel Eliza Rivera, Esq. and The 

South Central Area of Investment in Labor Force (ASIFAL) of the Commonwealth of Puerto 

Rico has caused this Lease Contract to be executed in its name and behalf by Edwin 

Rodriguez Molina, its Executive Director thereunto duly authorized, as of the day and year first 

above written. 

The attached Rider No. 1 consisting of seven (7) pages, entitled "General Dispositions 

Not Provided in Standard Form of Lease Contract of Office Building No. 02660 but forming a 

part hereof' is part of this Contract. 

LESSEE: ("\ 

(_{\('\ \\ \\ \ \ 

By: ~~~~~ \ 

(Seal) 

Attest: 

Edwin Rodriguez Molina 

Executive Directoc 

.. ~jf~~:-:2~E~~"~:c . ·~- 'ij, 

·-----~-·--------- -

I 

PUBLIC BUILDINGS AUTHORITY 

~ ~( 

By~_,<'7 ;) ~ 

By: 

Jesus F. Mendez Rodriguez 

Executive Director 

( . 

/ ·------ I , I j ( 7~~\./ 

oel Eliza Rivera, Esq. 

Secretary 

Board of Directors 

The foregoing Lease Contract Number A-1008, is hereby approved this __ day of 

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1/ 

y 

Contract No. A-1008 

Addendum No. 01 

Project No. 2660 

ADDENDUM TO THE LEASE CONTRACT MADE 

AND ENTERED 

BY AND BETWEEN THE PUBLIC BUILDINGS AUTHORITY 

AS LESSOR, AND THE SOUTH CENTRAL AREA OF lNVESTMENT 1N LABOR 

FORCE (ASIF AL) OF THE COMMONWEALTH OF PUERTO RICO AS LESSEE 

In consideration of the mutual promises, covenants and agreements and other 

good and valuable consideration, The Public Buildings Authority and The South Central 

Area of Investment in Labor Force (ASIF AL) agree to amend said Contract as herein 

below specified: 

1. That pursuant to Section 1.02, regarding Santa Isabel Government Office 

Center PBA -2660, Lessee covenants and agrees to rent from the Authority, upon 

and subject to the terms, covenants and conditions stated in said Contract No. A1008, (i) 6.414 additional square feet of space located in Office Building No. 

PBA-2660 (floor number 1and2) such additional space being 36.71% of the total 

rentable space in said building. 

2. Regarding Santa Isabel Government Office Center, PBA - 2660, the following 

paragraph should read as follows: 

Section 2.01 Annual Rental. The Lessee covenants and agrees to pay not later 

than the dates herein below specified, to the Authority as rent for this additional 

space during the term of the Lease Contract first above mentioned a total rental 

(herein called the "Rental"), which in each year of such term shall be the sum of 

the following: 

a) 

(b) 

the amount (in each year) of ten thousand ninety nine hundred dollars 

with 63/100($10.999.63) (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 

the amount (in each year) equal to the Lessee's share of the expenses of 

operation and maintenance for such year of Office Building No. PBA2660 (herein called the Operating Rental), which amount has been 

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

minimum of two dollars and 68/100 ($2.68) per square foot for each 

square foot of Lessee's space in such year, subject to such adjustments as 

are provided in said Lease Contract, including the succeeding Section 

hereof. 

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"Section 2.04 Rental Installments. The Rental for each year, for the additional space, ,,,S 

shall be paid to the Authority by the Lessee in equal monthly installments of two ,.., v 

thousand three hundred fifty dollars and 35/100 ($2,350.35) payable on the last day of (J u,'J· 

June 2010. and on the last dav of each month thereafter until July 01. 2022; subject to \\\)I 

any increase hereunder." 

/ 

3. The before mentioned rentals will be paid by the Lessee in additions to the 

previously agreed, the monthly rental of$1,295.00 

4. All other dispositions contained in the above mentioned Contract A-1008, shall 

remain unaltered. 

5. This addendum 0 l is made part of the Lease Contract first above written. 

Executed by Public Buildings Authority and The South Central Area of 

Investment in Labor Force (ASIF AL) on ~~""2010 and caused to be effective on 

June OL 2010. 

Edwin Rodriguez M~lina 

Executive Director 

(SEAL) 

ATTEST: 

PUBLIC BUILDINGS AUTHORITY 

,,.,,-- '2 < 

BY //fo'i-.-,,,,.,-?~ 

V Jesus F. Mendez Rodriguez 

Executive Director 

Secretary 

Boards of Directors 

The foregoing Addendum Number 01 to the Lease Contract Number A-1008 is hereby 

Approved this.,~day of ~""' ""''.O 

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ADDENDUM TO THE LEASE CONTRACT MADE 

AND ENTERED AS OF THE FIRST DAY OF 

AUGUST 2009, BY AND BETWEEN 

Contract No.A-1008 

Addendum No.2 

Project No. 2660 

THE PUBLIC BUILDINGS AUTHORITY, AS LESSOR, 

AND THE SOUTH CENTRAL AREA OF INVESTMENT 

IN LABOR FORCE, (ASIFAL) AS LESSEE 

In consideration of the mutual promises, covenants and agreements and other good and 

valuable consideration, as stated in the Contract first above mentioned, The Public Buildings 

Authority and The South Central Area of Investment in Labor Force, (ASIFAL) hereby agree to 

amend said contract as herein below specified. 

1. The /aSt sentence of the first paragraph of Section 1.01 is hereby amended to read 

as follows. 

"The lease of such space and other property under this lease contract shall be for a 

term beginning on the date first above written and ending on July 1st, 2039. 

2. The portion of Section 2.03 after the words "on the last day of ~ach month 

thereafter" is hereby amended to read as follows: "until and including Julv 1 2039 

subject to any increase hereunder''. 

3. All other dispositions contained in the above-mentioned Lease Contract A-1008, 

sha/f remain unaltered. 

This Addendum is made part of the Lease Contract first above written. Executed by the 

Public Buildings Authority and the South Central Area of Investment in Labor Force 

(ASIFAL) on :S"""'-1"""2010, and caused to be effective on July 1, 2010. 

(SEAL) 

ATTEST: 

PUBLIC BUil.DiNGS AUTHORITY 

-,-..- /'.::-' __,.,, - BY/7°,,td-&M' ,, ""-h~ 

Jesus F. Mendez Rodriguez 

Executive Director 

. Eliza Rivera, Esq. 

Secretary 

Board of Directors 

The foregoing Addendum Number:;?:, to the Lease Contract Number A-·1oos, is hereby 

approved this l'l"' day of '1MNl. ~ . 

Case:17-03283-LTS Doc#:2586-3 Filed:02/23/18 Entered:02/23/18 23:29:25 Desc:

Exhibit 2 to Bassett Declaration Page 12 of 12