PRESENTLY
FORESEEABLE OR NOT, AND WITHOUT REGARD TO THE COST OR EXPENSE OF COMPLIANCE.
IN
THE EVENT ANY COMPLIANCE UNDER THIS PARAGRAPH 5.02(B) IS NOT CAUSED BY LESSEE'S
PARTICULAR USE OR ALTERATIONS AND WOULD REQUIRE LESSEE TO MAKE ANY CAPITAL
IMPROVEMENT TO THE PREMISES, LESSOR SHALL MAKE SUCH CAPITAL IMPROVEMENT,
AMORTIZE THE COSTS THEREOF (INCLUDING INTEREST AT THE AGREED RATE) OVER THE
USEFUL LIFE OF THE IMPROVEMENT (AS DETERMINED BY LESSOR IN THE REASONABLE
EXERCISE OF ITS DISCRETION) AND CHARGE TO LESSEE AS ADDITIONAL RENT, SUCH
AMORTIZING PORTION TO BE PAID IN EQUAL MONTHLY INSTALLMENTS WITH PAYMENTS OF
BASE RENT.
(C)
BY EXECUTING THIS LEASE, LESSEE ACKNOWLEDGES THAT IT HAS REVIEWED
AND SATISFIED ITSELF AS TO ITS COMPLIANCE, OR INTENDED COMPLIANCE WITH THE
APPLICABLE ZONING AND PERMIT LAWS,
14
hazardous materials and waste requirements, and all other statutes, laws, or
ordinances relevant to the uses stated in Section 5.01., above.
SECTION 5.03.
CONDITION OF PREMISES AT COMMENCEMENT DATE.
SUBJECT TO
ALL OF THE TERMS OF THIS LEASE FOR THE CONSTRUCTION OF TENANT IMPROVEMENTS,
LESSOR SHALL DELIVER THE PREMISES TO LESSEE ON THE COMMENCEMENT DATE WITH THE
BUILDING PLUMBING, LIGHTING, HEATING, VENTILATING, AIR CONDITIONING, GAS,
ELECTRICAL, AND SPRINKLER SYSTEMS AND LOADING DOORS, IF ANY, IN PROPER OPERATING
CONDITION.
EXCEPT AS OTHERWISE PROVIDED IN THIS LEASE, LESSEE HEREBY ACCEPTS
THE PREMISES IN THEIR CONDITION EXISTING AS OF THE COMMENCEMENT DATE, SUBJECT TO
ALL APPLICABLE ZONING, MUNICIPAL, COUNTY AND STATE LAWS, ORDINANCES AND
REGULATIONS GOVERNING AND REGULATING THE USE AND CONDITION OF THE PREMISES, AND
ANY COVENANTS OR RESTRICTIONS, LIENS, ENCUMBRANCES AND TITLE EXCEPTIONS OF
RECORD, AND ACCEPTS THIS LEASE SUBJECT THERETO AND TO ALL MATTERS DISCLOSED
THEREBY AND BY ANY EXHIBITS ATTACHED HERETO.
LESSEE ACKNOWLEDGES THAT NEITHER
LESSOR NOR ANY AGENT OF LESSOR HAS MADE ANY REPRESENTATION OR WARRANTY AS TO THE
PRESENT OR FUTURE SUITABILITY OF THE PREMISES FOR THE CONDUCT OF LESSEE'S
BUSINESS.
SECTION 5.04.
DEFECTIVE CONDITION AT COMMENCEMENT DATE.
IN THE EVENT
THAT IT IS DETERMINED, AND LESSEE NOTIFIES LESSOR IN WRITING WITHIN ONE YEAR
AFTER THE COMMENCEMENT DATE, THAT ANY OF THE OBLIGATIONS OF LESSOR SET FORTH IN
SECTION 5.02.(A) OR SECTION 5.03. WERE NOT PERFORMED, THEN IT SHALL BE THE
OBLIGATION OF LESSOR, AND THE SOLE RIGHT AND REMEDY OF LESSEE, AFTER RECEIPT OF
WRITTEN NOTICE FROM LESSEE SETTING FORTH WITH SPECIFICITY THE NATURE OF THE
FAILED PERFORMANCE, TO PROMPTLY, WITHIN A REASONABLE TIME AND AT LESSOR'S SOLE
COST, CORRECT SAME.
LESSEE'S FAILURE TO GIVE SUCH WRITTEN NOTICE TO LESSOR
WITHIN ONE YEAR AFTER THE COMMENCEMENT DATE SHALL CONSTITUTE A CONCLUSIVE
PRESUMPTION THAT LESSOR HAS COMPLIED WITH ALL OF LESSOR'S OBLIGATIONS UNDER THE
FOREGOING SECTIONS 5.02. AND 5.03., AND ANY REQUIRED CORRECTION AFTER THAT DATE
SHALL BE PERFORMED BY LESSEE, AT ITS SOLE COST AND EXPENSE.
AT THE END OF THE
FIRST YEAR OF THE LEASE TERM, LESSOR SHALL PROMPTLY ASSIGN TO LESSEE ALL OF
LESSOR'S CONTRACTOR'S, AND/OR MANUFACTURER'S GUARANTEES, WARRANTIES, AND CAUSES
OF ACTION.
SECTION 5.05.
BUILDING SECURITY.
LESSEE ACKNOWLEDGES AND AGREES THAT
IT ASSUMES