EXHIBIT 10.19
STANDARD FORM
INDUSTRIAL BUILDING LEASE
(MULTI-TENANT)
1.
BASIC TERMS.
THIS SECTION 1 CONTAINS THE BASIC TERMS OF THIS
LEASE BETWEEN LANDLORD AND TENANT, NAMED BELOW.
OTHER SECTIONS OF THE LEASE
REFERRED TO IN THIS SECTION 1 EXPLAIN AND DEFINE THE BASIC TERMS AND ARE TO BE
READ IN CONJUNCTION WITH THE BASIC TERMS.
1.1.
DATE OF LEASE:
1.2.
LANDLORD:
FIRST INDUSTRIAL
DEVELOPMENT SERVICES, INC.
1.3.
TENANT:
LIQUIDITY SERVICES,
INC.
1.4.
PREMISES:
THE PREMISES ARE LOCATED AS SHOWN ON
THE FLOOR PLAN ATTACHED AS EXHIBIT A-1 AND IT IS AGREED ARE CONCLUSIVELY
STIPULATED TO CONTAIN
94,407 RENTABLE SQUARE FEET IN THE BUILDING COMMONLY
KNOWN AS 1399 S PERRY ROAD, PLAINFIELD, INDIANA 46168 (THE "BUILDING").
1.5.
PROPERTY:
THE LAND DESCRIBED ON EXHIBIT A AND
THE BUILDING AND OTHER IMPROVEMENTS SITUATED THEREON.
1.6.
LEASE TERM:
5 YEARS 0 MONTHS ("TERM"),
COMMENCING AUGUST 1, 2006 ("COMMENCEMENT DATE") AND ENDING JULY 31, 2011,
SUBJECT TO SECTION 13.1 BELOW, ("EXPIRATION DATE").
1.7.
PERMITTED USES:
(SEE SECTION 4.1)
GENERAL
WAREHOUSE AND OFFICE
1.8.
TENANT'S GUARANTOR:
(IF NONE, SO STATE)
NONE
1.9.
BROKERS:
(SEE SECTION 23;
IF NONE, SO STATE)
(A)
TENANT'S BROKER:
CBRE
(B)
LANDLORD'S BROKER:
NONE
1.10.
SECURITY/DAMAGE DEPOSIT:
(SEE SECTION 4.4)
$24,781.84
1.11.
INITIAL ESTIMATED ADDITIONAL RENT PAYABLE BY TENANT:
$0.35 PER YEAR
1.12.
TENANT'S PROPORTIONATE SHARE: 39.04%
1.13.
RIDERS TO LEASE:
THE FOLLOWING RIDERS ARE ATTACHED TO
AND MADE A PART OF THIS LEASE. (IF NONE, SO STATE)
EXHIBIT A,
A-1, B, C, D & E
1.14.
OPTION TO EXTEND:
PROVIDED THAT TENANT IS NOT THEN IN
DEFAULT HEREUNDER, TENANT SHALL HAVE THE OPTION TO EXTEND THE TERM FOR AN
ADDITIONAL FIVE (5) YEAR PERIOD ("OPTION PERIOD") UPON THE SAME TERMS AND
CONDITIONS HEREOF, EXCEPT THAT THE BASE RENT (AS HEREINAFTER DEFINED) FOR THE
OPTION PERIOD SHALL BE INCREASED (BUT IN NO EVENT DECREASED) TO AN AMOUNT EQUAL
TO THE REASONABLE FAIR MARKET RENTAL VALUE FOR THE PREMISES, AS DETERMINED BY
THE FAIR MARKET RENTAL VALUE OF SIMILAR SPACE IN THE LOCAL MARKET/REGION IN
WHICH THE BUILDING IS LOCATED, BUT IN NO EVENT SHALL THE MONTHLY BASE RENT
EXCEED 115% OF THE BASE RENT PAYABLE FOR THE MONTH IMMEDIATELY PRECEDING THE
OPTION PERIOD; AND FURTHER PROVIDED THAT TENANT PROVIDES NOTICE OF ITS EXERCISE
OF SUCH OPTION TO LANDLORD AT LEAST ONE HUNDRED EIGHTY (180) DAYS PRIOR TO THE
EXPIRATION OF THE TERM.
1.15.
RIGHT OF FIRST REFUSAL:
PROVIDED THAT TENANT IS NOT
THEN IN DEFAULT HEREUNDER AND SUBJECT TO THE TERMS HEREOF, TENANT SHALL HAVE A
ONE-TIME RIGHT OF FIRST REFUSAL ("ROFR") TO LEASE ANY SPACE OR PREMISES WITHIN
THE BUILDING ADJACENT TO THE PREMISES ("ADDITIONAL SPACE"), WHICH IS OR BECOMES
AVAILABLE FOR RENT OR LEASE DURING THE TERM.
IF LANDLORD RECEIVES A WRITTEN
OFFER TO LEASE THE ADDITIONAL SPACE (AN "OFFER"), LANDLORD SHALL GIVE TENANT
NOTICE OF SUCH OFFER ("ROFR NOTICE").
TENANT SHALL HAVE THREE (3) BUSINESS DAYS
TO EXERCISE THE ROFR BY WRITTEN NOTICE TO LANDLORD.
IF TENANT TIMELY EXERCISES
THE ROFR, (A) THE PREMISES SHALL AUTOMATICALLY BE AMENDED TO