MRC GROUP
AS TENANT (THE "PRIOR LEASE").
SUCH ENTIRE AMOUNT WAS PAID TO THE THEN LANDLORD
IN NOVEMBER 1998.
UPON THE TERMINATION OF THE PRIOR LEASE, PROVIDED THAT THE
LANDLORD AS LANDLORD UNDER THE PRIOR LEASE DOES NOT UTILIZE ANY PORTION OF THE
SECURITY DEPOSIT UNDER THE PRIOR LEASE FOR AMOUNTS OWED THEREUNDER, THE LANDLORD
SHALL APPLY THE SECURITY DEPOSIT UNDER THE PRIOR LEASE AND UTILIZE SAME AS THE
SECURITY DEPOSIT UNDER THIS LEASE.
IN THE EVENT THE LANDLORD APPLIES ANY
PORTION OF THE SECURITY DEPOSIT UNDER THE PRIOR LEASE FOR AMOUNTS OWED
THEREUNDER, THE TENANT SHALL PAY TO THE LANDLORD HEREUNDER ON DEMAND THE
DIFFERENCE BETWEEN THE AMOUNT APPLIED AND THE AMOUNT OF $6,157.24.
1.6.
MINIMUM ANNUAL RENT.
MINIMUM ANNUAL RENT WILL ABATE THE FIRST SIX
(6) MONTHS OF THE TERM ON 3,973 RENTABLE SQUARE FEET.
FOR MONTHS 1-6 FROM THE
COMMENCEMENT DATE, THE MINIMUM ANNUAL RENT FOR THE REMAINDER OF THE DEMISED
PREMISES SHALL BE ONE HUNDRED FORTY-SIX THOUSAND, THIRTY-NINE DOLLARS AND NO
CENTS ($146,039.00) PAYABLE IN EQUAL MONTHLY INSTALLMENTS OF TWELVE THOUSAND,
ONE HUNDRED SIXTY-NINE DOLLARS AND NINETY-TWO CENTS ($12,169.92).
FOR MONTHS
7-12 FROM THE COMMENCEMENT DATE, THE MINIMUM ANNUAL RENT SHALL BE ONE HUNDRED
EIGHTY-TWO THOUSAND, SEVEN HUNDRED EIGHTY-NINE DOLLARS AND TWENTY-FIVE CENTS
($182,789.25) PAYABLE IN EQUAL MONTHLY INSTALLMENTS OF FIFTEEN THOUSAND, TWO
HUNDRED THIRTY-TWO DOLLARS AND FORTY-FOUR CENTS ($15,232.44).
THE MINIMUM
ANNUAL RENT SHALL FOR THE REMAINDER OF THE TERM BE SUBJECT TO INCREASE AS
PROVIDED FOR IN ARTICLE 2.2 HEREOF, WHICH INCREASES WHEN EFFECTIVE SHALL BE
DEEMED PART OF THE "MINIMUM ANNUAL RENT".
ATTACHED HERETO AND INCORPORATED
HEREIN, IN PARAGRAPH 2 OF EXHIBIT "B" IS A SCHEDULE WHICH SHOWS THE MINIMUM
ANNUAL RENTAL AMOUNTS DUE FOR THE ENTIRE TERM, WHICH AMOUNTS INCLUDE THE
INCREASE PROVIDED FOR IN ARTICLE 2.2.
1.7.
ADDITIONAL RENT.
PURSUANT TO ARTICLE 2.3 HEREOF, TENANT'S
PROPORTIONATE SHARE OF THE TOTAL COST OF REAL ESTATE TAXES, INSURANCE PREMIUMS,
AND COMMON AREA OPERATING COSTS (ALL AS DEFINED IN 1.12, 1.13 AND 1.14 BELOW) TO
THE EXTENT SUCH COST TO LANDLORD EXCEEDS $0.45 PER RENTABLE SQUARE FOOT
(HEREINAFTER "OPERATING ALLOWANCE") AND SUCH OTHER COSTS TO LANDLORD HEREINAFTER
CLAIMED FROM TENANT AS "ADDITIONAL RENT".
ADDITIONAL RENT AND MINIMUM ANNUAL
RENT ARE AT TIMES HEREIN COLLECTIVELY REFERRED TO AS "RENT".
1.8.
LANDLORD AND TENANT CONSTRUCTION OBLIGATIONS.
AS SPECIFIED IN
EXHIBIT "B" ATTACHED HERETO AND INCORPORATED HEREIN BY THIS REFERENCE, WHICH
SHALL BE DEEMED TO BE LANDLORD'S AND TENANT'S OBLIGATIONS AS TO CONSTRUCTION AND
INTERIOR FIT-OUT OF THE DEMISED PREMISES.
2
1.9.
NOTICE ADDRESS OF LANDLORD AND TENANT:
To Landlord:
To Tenant:
LA/GA Business Centers, Inc.
MedQuist Transcriptions, Ltd.
C/o Advantis Real Estate Services Company
Attention: General Counsel
Regional Director of Management Services
Five Greentree Centre
3455 Peachtree Road NE, Suite 400
Suite 311
Atlanta, GA 30326
Marlton, NJ 08053
Address for Rental and other Payments:
LA/GA Business Centers, Inc.
American Business Center, c/o Advantis
P.O. Box 932466
Atlanta, GA 31193-2466
or such other address as Landlord or Tenant notifies the other of in writing
from