WAIVERS.
33.
ATTORNMENT
34.
SUBORDINATION
35.
EXECUTION OF DOCUMENTS
36.
ESTOPPEL AGREEMENTS
37.
CONDOMINIUM CONVERSION
38.
NOTICES
39.
BINDING EFFECT
40.
SURVIVAL OF VALID TERMS
41.
ENTIRE AGREEMENT
42.
PROHIBITION AGAINST RECORDING
43.
INTERPRETATION
i
44.
LIABILITY OF LANDLORD
45.
CAPTIONS AND HEADINGS
46.
NO BROKERAGE COMMISSION
47.
QUIET ENJOYMENT
48.
WAIVER OF TRIAL BY JURY
49.
OWNERS' ASSOCIATION
ii
LEASE AGREEMENT
IN CONSIDERATION of the mutual promises contained herein, and intending to be
legally bound hereby, Landlord and Tenant, in addition to the foregoing Summary,
agree as follows:
1.
PREMISES.
Landlord hereby leases to
Tenant and Tenant hereby leases from Landlord the Premises, in connection with
its use of the Premises, Tenant shall have the right to use the Parking Spaces.
2.
TERM.
(A)
THE TERM OF THIS LEASE SHALL COMMENCE ON
THE COMMENCEMENT DATE, UNLESS CONSTRUCTION IS DELAYED AS PROVIDED IN
PARAGRAPH 9(B).
(B)
WITHIN THIRTY (30) DAYS AFTER THE
COMMENCEMENT DATE, LANDLORD AND TENANT SHALL EXECUTE A LETTER AGREEMENT
SPECIFYING THE COMMENCEMENT DATE.
FAILURE TO EXECUTE SUCH LETTER AGREEMENT
SHALL IN NO WAY CAUSE THIS LEASE NOT TO REMAIN IN FULL FORCE AND EFFECT.
(C)
TENANT SHALL HAVE THE RIGHT TO RENEW THIS
LEASE FOR ONE (1) FIVE (5) YEAR RENEWAL PERIOD UNDER THE SAME TERMS AND
CONDITIONS OF THE BASE LEASE WITH THE EXCEPTION THAT THE STARTING RENT FOR THE
PERIOD SHALL BE 2% HIGHER THAN THE PREVIOUS YEAR'S RENT.
SIX (6) MONTHS WRITTEN
NOTICE WILL BE REQUIRED TO EXERCISE SUCH OPTIONS BY TENANT.
(D)
TENANT SHALL SURRENDER AND DELIVER UP THE
PREMISES AT THE END OF THE TERM OF THIS LEASE IN GOOD ORDER AND CONDITION AS OF
THE DATE OF EXECUTION HEREOF, REASONABLE USE AND NATURAL WEAR AND TEAR
EXCEPTED.
IF TENANT FAILS TO SURRENDER THE PREMISES TO LANDLORD ON THE DATE AS
REQUIRED HEREIN, TENANT SHALL HOLD LANDLORD HARMLESS FROM ALL DAMAGES, DIRECT
AND INDIRECT, RESULTING FROM TENANT'S FAILURE TO SURRENDER THE PREMISES AS
HEREIN PROVIDED, INCLUDING BUT NOT LIMITED TO CLAIMS MADE BY A SUCCEEDING TENANT
RESULTING FROM LANDLORD'S INABILITY TO DELIVER THE PREMISES, OR ANY PART
THEREOF, DUE TO TENANT'S FAILURE TO SURRENDER THE PREMISES.
(I)
SHOULD THE TENANT, WITHOUT THE EXPRESS
WRITTEN CONSENT OF THE LANDLORD, CONTINUE TO HOLD AND OCCUPY THE PREMISES AFTER
THE EXPIRATION OF THE TERM OF THIS LEASE, SUCH HOLDING OVER SHALL BE CONSIDERED
A TENANCY AT SUFFERANCE, AND NOT FOR ANY OTHER TERM WHATSOEVER, WHICH MAY BE
TERMINATED BY THE LANDLORD AT THE WILL OF THE LANDLORD BY GIVING TENANT WRITTEN
NOTICE THEREOF, AND AT ANY TIME THEREAFTER THE LANDLORD MAY RE-ENTER AND TAKE
POSSESSION OF THE PREMISES, BY FORCE OR OTHERWISE.
RENT DURING ANY SUCH HOLDING
OVER SHALL BE CHARGED AND PAID BY TENANT AT THE RATE OF 150% OF THE MONTHLY RENT
RESERVED HEREIN AS THE MONTHLY RENTAL DUE FOR THAT MONTH IMMEDIATELY PRECEDING
THE HOLDING OVER.
(E)
DEFINITION OF LEASE YEAR:
A "LEASE YEAR."
AS HEREIN REFERRED TO, SHALL CONSIST OF THAT FULL TWELVE (12) MONTH PERIOD
COMMENCING ON THE