TIMES
THROUGHOUT THE TERM OF THIS LEASE THE FULL AMOUNT OF THE SECURITY DEPOSIT.
LANDLORD SHALL NOT BE REQUIRED TO HOLD THE SECURITY DEPOSIT AS A SEPARATE
ACCOUNT, BUT MAY COMMINGLE IT WITH LANDLORD'S OTHER FUNDS.
THE USE, APPLICATION
OR RETENTION OF THE SECURITY DEPOSIT OR ANY PORTION THEREOF BY LANDLORD SHALL
NOT PREVENT LANDLORD FROM EXERCISING ANY OTHER RIGHT OR REMEDY PROVIDED BY THIS
LEASE OR BY LAW (IT BEING INTENDED THAT LANDLORD
2
shall not first be required to proceed against the Security Deposit) and shall
not operate as a limitation on any recovery to which Landlord may otherwise be
entitled.
(B)
IN THE EVENT OF A SALE OR ANY OTHER TRANSFER
OF THE PROJECT, LANDLORD SHALL HAVE THE RIGHT TO TRANSFER THE SECURITY DEPOSIT
TO ITS PURCHASER AND LANDLORD SHALL THEREUPON BE RELEASED BY TENANT FROM ALL
RESPONSIBILITY FOR THE RETURN OF SUCH DEPOSIT; AND TENANT AGREES TO LOOK SOLELY
TO SUCH PURCHASER FOR THE RETURN OF SUCH DEPOSIT.
IN THE EVENT OF AN ASSIGNMENT
OF THIS LEASE, THE SECURITY DEPOSIT SHALL BE DEEMED TO BE HELD BY LANDLORD AS A
DEPOSIT MADE BY THE ASSIGNEE, AND LANDLORD SHALL HAVE NO FURTHER RESPONSIBILITY
FOR THE RETURN OF SUCH DEPOSIT TO THE ASSIGNOR.
5.
TENANT FINISH IMPROVEMENTS
Landlord shall construct certain tenant finish improvements to the Initial
Premises in accordance with the schematic drawings and specifications attached
to this Lease, made a part hereof and marked Exhibit "C" and the Work Letter
attached to this Lease, made a part hereof and marked Exhibit "F".
Landlord
shall also construct tenant finish improvements for the Additional Premises in
accordance with schematic drawings and specifications to be agreed to by
Landlord and Tenant and attached to this Lease as Exhibit "C-1" and the Work
Letter.
6.
DELIVERY OF POSSESSION; ADJUSTMENT OF
TERM
(A)
EARLY DELIVERY OF POSSESSION.
LANDLORD
EXPECTS THAT IT WILL HAVE THE TENANT FINISH IMPROVEMENTS COMPLETED AND THE
INITIAL PREMISES READY FOR OCCUPANCY ON OR BEFORE THE COMMENCEMENT DATE.
TENANT
SHALL HAVE ACCESS TO THE INITIAL PREMISES THREE (3) WEEKS PRIOR TO THE
COMMENCEMENT DATE FOR THE LIMITED PURPOSE OF INSTALLING FURNITURE, FIXTURES AND
CABLING.
ANY SUCH OCCUPANCY BY TENANT PRIOR TO THE COMMENCEMENT DATE SHALL BE
SUBJECT TO ALL OF THE TERMS, CONDITIONS AND COVENANTS OF THIS LEASE OTHER THAN
THE TERM AND THE OBLIGATION TO PAY RENT AS PROVIDED IN PARAGRAPHS 2 AND 3
HEREOF.
IN SUCH EVENT, TENANT SHALL NOT BE OBLIGATED TO PAY BASE RENT OR THE
RENT ADJUSTMENT FOR THE PERIOD BETWEEN SUCH DATE AND THE COMMENCEMENT DATE.
(B)
LATE DELIVERY OF POSSESSION.
IF LANDLORD
DETERMINES THAT IT WILL BE UNABLE TO SUBSTANTIALLY TO COMPLETE THE TENANT FINISH
IMPROVEMENTS AND HAVE THE INITIAL PREMISES READY FOR OCCUPANCY BY THE
COMMENCEMENT DATE FOR DELAYS CAUSED BY LANDLORD OR LANDLORD'S CONTRACTOR,
LANDLORD SHALL GIVE TENANT WRITTEN NOTICE TO THAT EFFECT, AND THEREAFTER THE
COMMENCEMENT DATE SHALL BE POSTPONED TO THE EARLIER OF (I) THE DATE UPON WHICH
LANDLORD TENDERS POSSESSION OF THE INITIAL PREMISES OR