Jersey limited liability company, having an address at
c/o Mack-Cali Realty Corporation, 343 Thornall Street, Edison, New Jersey
08837-2206 ("Landlord") and Arch Insurance Company, a Missouri corporation,
having an address at One Liberty Plaza, New York, New York 10006 ("Tenant").
W I T N E S S E T H
WHEREAS, Landlord is the owner of the land described on Schedule A-1 attached
hereto (the "Land") and the Building (as hereinafter defined);
WHEREAS, the Land is located within the office complex (the "Complex") located
in Jersey City, New Jersey, known as Harborside Financial Center, consisting as
of the date hereof of Plaza I ("Plaza I"), Plaza II ("Plaza II"), Plaza III (the
"Building"), Plaza IV-A ("Plaza IV-A") and Plaza V ("Plaza V"); Plaza I, Plaza
IV-A and Plaza V hereinafter collectively referred to as the "Existing
Buildings") and the parking areas and other common areas serving the Complex,
which Complex is located on the land (the "Complex Land") described on Schedule
A-2 attached hereto (the Complex Land together with all of the improvements now
or hereafter located thereon, including without limitation, the Existing
Buildings and the Building, being hereinafter referred to as the "Property");
WHEREAS, Landlord is willing to lease to Tenant and Tenant is willing to hire
from Landlord, on the terms hereinafter set forth, certain space in the
Building.
NOW THEREFORE, the parties hereby covenant and agree as follows:
ARTICLE 1
RENT
1.01
TENANT HEREBY AGREES TO PAY TO LANDLORD BASIC
ANNUAL RENT (THE "BASIC ANNUAL RENT") AS SET FORTH IN THE REFERENCE PAGE.
THE
BASIC ANNUAL RENT SHALL BE PAID BY TENANT IN EQUAL MONTHLY INSTALLMENTS IN
ADVANCE ON THE FIRST DAY OF EACH CALENDAR MONTH DURING THE TERM FROM AND AFTER
THE RENT COMMENCEMENT DATE (THE PERIOD FROM THE COMMENCEMENT DATE TO THE DAY
PRIOR TO THE RENT COMMENCEMENT DATE IS HEREINAFTER REFERRED TO AS THE "FREE RENT
PERIOD"), AT THE OFFICE OF LANDLORD OR SUCH OTHER PLACE AS LANDLORD MAY
DESIGNATE, WITHOUT ANY SETOFF OR DEDUCTION WHATSOEVER, EXCEPT SUCH DEDUCTIONS AS
ARE SPECIFICALLY REFERRED TO IN ARTICLES 10 AND 14 HEREOF.
SHOULD THE RENT
COMMENCEMENT DATE FALL ON ANY DAY OTHER THAN THE FIRST DAY OF A MONTH, THEN THE
BASIC ANNUAL RENT FOR SUCH MONTH SHALL BE PRO-RATED ON A PER DIEM BASIS, AND
TENANT AGREES TO PAY THE AMOUNT THEREOF FOR SUCH PARTIAL MONTH ON THE RENT
COMMENCEMENT DATE.
1.02
TENANT SHALL PAY THE BASIC ANNUAL RENT AND ALL
ADDITIONAL RENT PAYABLE HEREUNDER IN LAWFUL MONEY OF THE UNITED STATES BY CHECK
(SUBJECT TO COLLECTION) DRAWN TO LANDLORD'S ORDER ON A BANK WHICH IS A MEMBER OF
THE NEW YORK CLEARINGHOUSE ASSOCIATION OR A SUCCESSOR THERETO, OR A NEW JERSEY
BANK.
ALL SUMS, OTHER THAN BASIC ANNUAL RENT, PAYABLE BY TENANT HEREUNDER SHALL
BE DEEMED ADDITIONAL RENT AND SHALL BE PAYABLE TEN (10) BUSINESS DAYS AFTER
DEMAND UNLESS OTHER
4
PAYMENT DATES ARE HEREINAFTER PROVIDED.
LANDLORD SHALL HAVE THE SAME RIGHTS AND
REMEDIES (INCLUDING, WITHOUT LIMITATION, THE RIGHT TO COMMENCE A SUMMARY