Document:

Exhibit 10.45

 

CARDWELL COMPANIES COMMERCIAL
REALTY ONE

 

StarTek

Lease Summary Decatur, Illinois

 

	
  Project:

  	
   

  	
  Fairview Park Plaza

  
	
   

  	
   

  	
   

  
	
  Premises:

  	
   

  	
  37,500 SF at 1505 W. King, Decatur,
  Illinois 62522

  
	
   

  	
   

  	
   

  
	
  Landlord:

  	
   

  	
  Cardwell Companies, Inc.

  
	
   

  	
   

  	
   

  
	
  Tenant:

  	
   

  	
  StarTek USA, Inc. mo

  
	
  Rent:

  	
   

  	
  $5.78 or $18,062.50/1~ao. payable in
  monthly installments to Fairview Park Plaza, LLC,

  101 S. Main Street, Suite 101;

  
	
   

  	
   

  
	
   

  	
   

  	
  Decatur, Illinois 62523

  
	
   

  	
   

  	
   

  
	
  Term:

  	
   

  	
  Seven (7) years commencing upon occupancy

  
	
   

  	
   

  	
   

  
	
  Options

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Renewal:

  	
   

  	
  Two (2), three (3) year terms with six (6)
  month prior notice

  
	
   

  	
   

  	
  Option #1: $6.50/SF

  
	
   

  	
   

  	
  Option #2: $7.25/SF

  
	
   

  	
   

  	
   

  
	
  Expansion:

  	
   

  	
  Adjacent beauty supply store at same rent

  
	
   

  	
   

  	
   

  
	
  Allowance:

  	
   

  	
  $375,000 towards construction costs paid
  upon receipt of invoices

  
	
   

  	
   

  	
   

  
	
  Repairs:

  	
   

  	
  Tenant to maintain HVAC units

  
	
   

  	
   

  	
   

  
	
  Signage Rights:

  	
   

  	
  Front of building

  
	
   

  	
   

  	
   

  
	
  Operating Expenses/Taxes:

  	
   

  	
  Tenant to pay proportionate (16.29%) of
  common area costs, real estate taxes and insurance, including a management
  fee of 16% of the common area costs, estimated to be $2.22/sf

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Parking:

  	
   

  	
  350 spaces, at no cost, per Exhibit C

  
	
   

  	
   

  	
   

  
	
  Alterations:

  	
   

  	
  Tenant may make alterations of less than
  $20,000 without Landlord approval

  
	
   

  	
   

  	
   

  
	
  Sublease/Assignment:

  	
   

  	
  Tenant may sublease/assign to a subsidiary
  without Landlord approval

  
	
   

  	
   

  	
   

  
	
  Holding Over:

  	
   

  	
  150% of rent

  
	
   

  	
   

  	
   

  
	
  Security Deposit:

  	
   

  	
  None

  

 

 

	
  Restoration:

  	
   

  	
  None

  
	
   

  	
   

  	
   

  
	
  Training Space:

  	
   

  	
  101 Park at no cost through 8/03.

  
	
   

  	
   

  	
   

  
	
  Landlord Improvements:

  	
   

  	
  Roof, storefront windows remove/patch
  staircase/escalator, replace main entrance, provide separate electrical
  service

  

 

2

 

101 S. Main St.

Suite 101

 

Decatur, IL 62523

Ph. (217)877-1300

 

FAIRVIEW PARK PLAZA COMMERCIAL LEASE

 

THIS LEASE, made and entered into
this          day of
February, 2003, by and between Cardwell Companies Inc.  d/b/a Cardwell Companies Commercial Realty
One, agent for Fairview Park Plaza, LLC, an Illinois limited liability company,
hereinafter referred to as “Lessor” and STARTEK USA, INC., hereinafter referred
to as “Lessee”,

 

WlTNESSETH

 

THAT Lessor, for and in consideration of
the covenants and agreements hereinafter set forth to be kept and performed by
the Lessee, demises and leases to the Lessee and the Lessee does hereby take,
and accept and rent from the Lessor, the premises hereinafter described for the
period, at the rental and upon the terms and conditions hereafter set forth.

 

1.
Demised Premises. The premises demised and leased hereunder consist of
the building and land described as follow, to wit:

 

Approximately
37,500 square feet located at 1505 W. King, Decatur, Illinois, 62522, commonly
known as Fairview Park Plaza. (See Exhibit “A”)

 

2,
“Term of Lease. This lease shall have a term of Seven (7) years,
commencing on the nineteenth (19~n) day of May, 2003 or when the
City of Decatur issues a Certificate of Occupancy, whichever event occurs
later. Lessee shall have access to the leased premises for the purpose of
completing tenant finish improvements on date of executed Commercial Lease
agreement. Upon delivery of possession of the Leased Premises to Lessee, Lessee
shall execute a letter of understanding acknowledging (i) the Commencement Date
of this Lease. and (ii) that Lessee has accepted the Leased Premises for
occupancy and that the condition of the Leased Premises (including any
Leasehold improvements constructed there only and the Building was at the time
satisfactory and in conformity with the provisions of this Lease in all
respects. Such letter of understanding shall become a part of this Lease. If
Lessee takes possession of and occupies the Leased Premises Lessee shall be
deemed to have accepted the Leased Premises as described above, even though
Lessee may not have executed the letter of understanding. Lessor shall remedy/any
latent defect(s) discovered within ninety (90) days of the Commencement Date.
Lessee agrees that notification of the latent defect must be in writing from
lessee and received by Lessor within ninety (90) days of the rent Commencement
Date. The written notice must set forth any and all problems related to the
latent defect.

 

3

 

2.1.
Option to Extend. Provided that Lessee is not then in default of any of
its obligations hereunder beyond any applicable period of notice and/or cure,
Lessee shall have the option to extend the Lease Term for Two (2) additional
periods of Three (3) years (each an “Extension Term”). The Extension Terms
shall be upon the same terms and conditions contained in the Lease for the
Lease Term except the Rental shall be adjusted as set forth below and there
shall be no further Option to Extend beyond the second extension term. Lessee
shall exercise such option by delivering to Lessor, no later than six months
(6) prior to the expiration of the Lease Term, written notice of Lessee’s
desire to extend the Lease Term. Unless Lessor otherwise agrees in writing,
Lessee’s failure to timely exercise such option shall waive it and any
succeeding option. If Lessee properly exercises its option to extend, Lessor
and Lessee shall execute en amendment to the Lease reflecting the terms and
conditions of the Extension Term. The Annual Rental for the Extension Terms are
set forth on Exhibit B. The Rental shall be paid at the same time and in the
same manner as provided in the Lease,

 

3.
Rental. Lessee shall pay to the Lessor as rental for the premises the
sum of to be determined as descried in Exhibit “A” per year payable in monthly
installments of and the rent shall be due on the first (1st) day of
each and every month throughout the term of the Lease without demand. After 10
days, there will be a late charge of $50.00. After three late rent occurrences
during the Term of the Lease that are not cured within ten (10) days of the
Tenant’s receipt of written notice of non-payment from Landlord, Lessor will
have the right to terminate the lease and the Lessee shall agree to vacate the
premises and lease space within 10 days of written notice to terminate. The
rent payable hereunder shall be made payable to Fairview Park Plaza, LLC. 101
S. Main St., Suite 101, Decatur, Illinois 62523.

 

4.
Additional Rental. Lessee covenants and agrees to pay as additional rental the
following:

 

A.
Repairs. Lessee shall keep and maintain, in good working order, and
repair (which repair shall include all necessary replacements, capital
expenditures, and compliance with all Laws now or hereafter adopted) the
Premises and every part thereof and any and all appurtenances thereto wherever
located, including, but without limitation: See items marked on Exhibit A.
Lessor shall pay for HVAC replacement, maintenance and replacement of
foundation, exterior walls and roof, if necessary. Lessee, at its expense,
shall obtain a preventative maintenance contract on the HVAC System which shall
be subject to Lessor’s reasonable approval. Lessee shall provide Lessor with a
copy of the preventative maintenance contract no later than thirty (30) days
after the Commencement Date. The preventative maintenance contract shall
provide for the inspection and maintenance of the HVAC System on not less than
a semi-annual basis. Lessee shall at its own expense buy and pay for all
materials and replacement of any light bulbs.

 

B.
Insurance. Lessor shall maintain fire end extended coverage insurance
(or other special broad form coverage) together with insurance against
vandalism and malicious mischief, covering the building or buildings within the
shopping center, for their fell insurable value on a replacement cost basis
without deduction for depreciation. The policy year shall mean the twelve-month
period covered by Lessor’s insurance policy or policies. During the term of
this Lease, as additional rent, Lessee shall pay its pro rata share of the
premiums for the insurance to be maintained

 

4

 

by Lessor in accordance with this
paragraph, including liability coverage. Such pro rata share be computed
pursuant to the terms of this lease. Lessee shall, at its expense, maintain
fire and extended coverage insurance on its fixtures, equipment, merchandise
and other personal property in or upon the premises for its full insurable
value on a replacement cost basis. Lessee shall also be responsible for
acquiring any business interruption insurance Lessee desires.

 

C. Common Areas. As used in this Lease,
the term “Common Areas” shall include the parking areas, ingress, egress and
access roads and drives, sanitary sewers and utility lines, drainage system,
walkways and sidewalks, landscaped and planted areas of the Building, and other
facilities designed for use in common by ‘occupants of the Building and their
agents, employees, customers, invitees and licensees.

 

D.
Lessee’s Pro-Rata Share. As additional rent for the initial term of this
Lease and any renewal thereof Lessee covenants and agrees to pay its pro-rata
share of Common Area costs, Real Estate Taxes, and Insurance, Common Area costs
shall include all of - Lessor’s cost and expenses of every kind and nature of
operating, managing, equipping, lighting, decorating, repairing, securing,
cleaning, replacing, striping, reconstructing, providing security, insuring,
and maintaining the Common Areas, keeping the same cleaned of snow, ice, and
water and providing liability insurance therefore, and administrative costs
equal to 16% of all other Common Area costs. This sum shall be paid monthly.

 

Lessee’s pro-rata share shall be a
fraction of said costs, the numerator of which shall be the number of square
feet in the Premises (the leasehold space) and the denomination of which shall
be the total useable area in the Building (the entire shopping center commonly
known as Fairview Park Plaza, LLC, consisting of approximately 230,172 square
feet.) It is understood that Lessor may cause any or all of said services to be
provided by an independent contractor or contractors. Lessee’s pro-rata share
of the Common Area Costs. Real Estate Taxes, and Insurance shall be paid in
advance n monthly installments on the first day of each calendar month
commencing on the Rental Commencement Date. The estimate of the Common Area
Costs, Real Estate Taxes, and Insurance for such calendar year shall, to the
extent possible, be based upon the actual Common Area Costs. Real Estate Taxes,
and Insurance for the preceding calendar year adjusted, to reflect reasonably anticipated
increases or decreases in operating costs and expenses. The Lessors written
estimate of the Common Area Costs Real Estate Taxes, and Insurance for each
calendar year shall be given to Lessee on or before the Rental Commencement
Date and, thereafter, on or before December 15 immediately preceding each
calendar year, On or before April 1 Lessor shall provide Lessee a statement
showing in reasonable detail the actual Common Area Costs, Real Estate Taxes,
and Insurance paid or incurred by Lessor in the preceding calendar year, such
statement to be prepared by Lessor in accordance with generally accepted
accounting practices and procedures; and within fifteen (15) days of such date,
Lessee shall pay Lessor any deficiency, Lessor shall pay Lessee any overpayment,
of Lessee’s pro-rata share of the Common Area Costs for the preceding calendar
year.

 

5. Use of the Premises. The Premises
shall be used for the purpose of carrying on a Call Center. Lessee shall
operate its business in the Premises under the trade name: StarTek. The
premises shall not be used for any other purpose. Lessee shall not engage in
the retail sale of drugs, pharmaceuticals, health and beauty aids or drug
sundries, or alcoholic beverages to be consumed off the premises, or sell sub style
sandwiches or deli-style sandwiches where over 25% of said sales are of the sub
style or deli-style sandwich type.

 

5

 

5.1
Parking. Lessee shall not be entitled to use the parking area for the
common use of the tenants of the shopping center other than what is described
in Exhibit C. Lessee shall have the exclusive right to use, for its intended
purposes as described in Exhibit C, such parking area for itself, its
employees, agents, invitees and licensees, subject, however, to the rights
given Lessor an~ the other tenants for easements, right of way and deliveries.
Lessor shall have the right to change the size, location, elevation or nature
of the parking area. Lessee may not use the parking area for any other purpose
without the express written consent of the Lessor, which consent shall be
completely discretionary. For example, no signage or tent sales or use of the
parking lot for similar purposes is allowable without the express written
consent of Lessor.

 

Lessor
shall have the right with respect to the parking area:

 

(i)                                     To change the
entrance, exits, driving lanes and parking areas as Lessor deems necessary as
long as the number of spaces remain the same.

(ii)                                  To close
temporarily or permanently all of any portion thereof;

(iii)                               To establish,
modify or enforce reasonable rules or regulations with respect to the use of
said area and Lessee agrees that it, its concessionaires and their respective
employees, agents, invitees and licensees shall complex with. such rules and
regulations upon notice thereof.

(iv)                              Landlord shall
make every reasonable attempt not to change Tenant’s parking areas in Exhibit C
or change the means of access to them. Further, Landlord shall use reasonable
efforts to accommodate Lessee’s request for additional parking.

 

5.2
Employee Parking. Area. Lessee agrees that it, any subtenant and their
respective officers, employees and agents will park their automobiles and other
vehicles only where and as permitted by Lessor. Lessee and Lessee’s employees
are allowed to park in the designated parking areas only that is shown in
Exhibit C..

 

6.
Construction of Leasehold Improvements. Lessee has personally inspected
the Leased Premises and accepts the same “as is” without representation or
warranty by Lessor of any kind and with the understanding that Lessor shall
have no responsibility with respect thereto except to construct in a good and
workmanlike manner the improvements designated as Lessor’s obligations in the
attached Exhibit E,. so that the Leased Premises will be available for Lessee’s
occupancy by the Commencement Date, unless prevented by causes beyond Lessor’s
reasonable control.

 

7.
“For Lease” Signs. If Lessee has not exercised its option to extend, the
Lessor may place on the Premises notices or signs indicating that the Premises
are “For Rent” or “For Lease” or the like, during the last six months of the
Lease term. Lessee shall not interfere in any manner with these notices or with
Lessor’s showing of the Premises,

 

8.             Casualties.  If the Premises or the building in which the
Premises are located is substantially or totally damaged by fire, or other
casualty, Lessor may terminate this Lease as of the date of such destruction by
written notice to Lessee within sixty (60) days after such destruction. If
Lessor does not elect to so terminate this Lease, or if the extent of damage is
not substantial Lessor shall promptly, and with reasonable diligence restore
the building and Premises. The rent and additional rent shall abate on account
of any damage in proportion to the area of the Premises rendered untenantable
until the Premises is restored. If the Premises is not restored in

 

6

 

accordance with this paragraph within 180
days after such damage or destruction, then Lessee may terminate this Lease by
written notice to Lessor within 210 days after such damage.

 

9.             Condemnation.

 

A.            Total or Substantial Partial
Condemnation. If the whole of the Premises shall be taken for any public or
quasi-public use under any statute or by right of eminent domain, or by private
purchase in lieu thereof, then. this Lease shall terminate as of the date that
rifle shall be taken. If any part of the Premises shall be so taken as to
render the remainder thereof unusable-for the conduct of Lessee’s business in
the Premises, then Lessor or Lessee may terminate this Lease on thirty (30)
days’ notice to the other given within ninety (90) days after the date of such
taking. If this Lease shall terminate or be terminated, then the rent shall be
pro-rated to the date of the taking.

 

B.            Partial Taking Where Lease Not
Terminated.  If any part of the Premises
shall be so taken and this Lease shall not terminate or be terminated as
provided in Paragraph 9.A, then the rent shall be equitably apportioned
according to the space so taken, Lessor shall, at its expense, restore the
remaining portion of the Premises to the extent necessary to make the Premises
reasonably suitable for the purposes for which the Premises are leased, and
shall make all repairs to .the building in which the Premises are located to
the extent necessary to constitute the remaining portion of the building a
complete architectural unit.

 

C.            Award. If the Premises or any part
thereof is taken, then Lessee shall have no claim against Lessor, Lessee shall
have no claim or right to any portion of the amount awarded as damages or paid
as a result of such taking and the full amount of such award made by the taking
authority shall be paid to and retained by Lessor, free of any claim by Lessee
to any portion thereof. All rights of Lessee, if any, are hereby assigned by
Lessee to Lessor. Lessee shall have no claim against Lessor for the value of
the unexpired term of this Lease and shall have no right or claim to any part
of the award,

 

10.
Alterations. Lessee shall not make any alterations, improvements or additions
to the Premises unless Lessor shall first have given written approval of the
plans and specifications therefor, and shall have been insured, to Lessor’s satisfaction,
against any cost or damage incident thereto, and unless Lessee shall first have
secured all necessary building and other permits. All such alternations,
modifications, additions or installations, when made, shall become the property
of Lessor unless Lessor directs Lessee to remove said alteration(s) at the end
of this Lease, excluding initial improvements set forth herein, and shall
remain upon and be surrendered with said Premises as a part thereof at the end
of the term of this Lease. Lessor agrees that it will not unreasonably withhold
its consent to any such alterations, modifications, additions or installations.
If the Lessee should make any alternations, the Lessee hereby agrees to
indemnify and defend the Lessor from any liability as a result thereof. Upon
any expiration or termination of this Lease, Lessee shall be entitled to remove
any and all furniture and equipment not belonging to Lessor. Cosmetic
alternations amounting to less than Twenty Thousand Dollars ($20,000.00) do not
require Lessor’s Consent

 

11.
Signs. Lessee agrees not to erect or install any signs, decorations, or
anything of any kind on the exterior of the Premises, not to place any
advertising signs or posters on the interior of the show windows, and not to
change the color of the exterior painting, without the prior written approval
of Lessor, which will not be unreasonably

 

7

 

withheld. Lessee shall obtain all
requisite permits and licenses for all signs approved by Lessor and all such
signs comply with all requirements of all authorities having jurisdiction over
the Premises.

 

12.
Cleanliness and Waste. Lessee shall keep the demised premises and the
walks adjacent thereto at all times in a neat, clean and sanitary condition,
waste, or debris and shall neither commit nor permit any waste or nuisance
therein.

 

13.
Sublease. Lessee shall not sublet or assign the demised premises except
by written permission and consent of Lessor, which said consent or permission
shall not be unreasonably withheld, references elsewhere herein to assignees
notwithstanding, and any such subleasing or assignment, even with the approval
of Lessor, shall not relieve the Lessee from liability for payment of the
rental herein provided, or from the obligation to keep arid be bound by the
terms, conditions and covenants of this Lease. The acceptance of rent from any
other person shall not be deemed to have waived any of the provision of this
paragraph or to be a consent to the assignment of this Lease of subletting of
the demised premises. Lessee may assign and/or sublet the demised premises to a
subsidiary successor of Lessee, upon the submission by the subtenant or
assignee of a financial statement that is acceptable to Lessor. Upon receipt of
a financial statement that establishes that the subtenant and/or assignee is a
creditworthy tenant, Lessor shall consent to the assignment or subletting of
this Lease. If Lessee remains liable for all of Lessee’s obligation herein,
Lessor’s approval is not required.

 

14.
Indemnification for General Liabilities.

 

Lessee
shall indemnify, defend and hold Lessor harmless from any and all claims and
damages, including reasonable attorney’s fees and costs, arising from Lessee’s
use of the Demised Premises or the conduct of its business or from any
activity, work, or thing done, permitted, or suffered by Lessee in or about the
Demised Premises and/or the building in which the Demised Premises are located,
unless caused by Lessor or Lessor’s agents or employees.

 

A.
Lessee shall further indemnity, defend, and hold Lessor harmless from any and
all claims and damages, including reasonable attorney’s fees and costs, arising
from any breach or default in the terms of this Lease Agreement. arising from
any act, negligence, default, or omission of Lessee or Lessee’s agents,
employees, or invitees, and from and against any and all costs, reasonable
attorney’s fees, expenses, and liabilities incurred in or about such claim or
any action or preceding brought such claim.

 

B.
Lessor shall indemnify, defend, and hold Lessee harmless from any and all
claims and damages, including reasonable attorney’s fees and costs arising from
Lessor’s construction of the premises or the conduct of its agents or from any
activity, work, or thing done, permitted, or suffered by Lessor in or about the
premises or the building in which the premises are located, unless caused by
Lessee or Lessee’s agents or employees.

 

8

 

C.
Lessor shall further indemnify, defend, and hold Lessee harmless from any and
all claims and damages, including reasonable attorney’s fees and costs, arising
from any breach or default in the terms of this Lease Agreement arising from
any act, knowledge, or default or occasion of Lessor or Lessor’s agents,
employees, or invitees, and from and against any other costs, reasonable
attorney’s fees, and liabilities incurred in or about such claim or any action
or preceding brought by such claim.

 

15 Holding
Over If Lessee retains possession of the Leased Premises after the
expiration or earlier termination of this Lease, Lessee shall become a lessee
from month to month at 150% of the monthly rental installment in effect at the
end of the Lease Term (plus Additional Rent as provided in paragraph 4 hereof),
and otherwise upon the terms, covenants and conditions herein specified, so far
as applicable. Acceptance by Lessor of rent after such expiration of earlier
termination shall not result in a renewal of this Lease, and Lessee shall
vacate and surrender the Leased Premises to Lessor upon Lessee being given
thirty (30) days prior written notice from Lessor to vacate.

 

16.
Security Deposit. Lessee’s security deposit of ten dollar which the undersigned
acknowledge has been paid upon the execution of this Lease.

 

17.
Lessor’s Right to Inspect. Lessor and its agents shall have free access
to the demised premises during all reasonable hours subject to twenty-four
hours (24) prior notice from Landlord for the purpose of examining the same and
to ascertain if they are in good repair, to make reasonable repairs which the
Lessor may be required to make hereunder and to exhibit the same to prospective
purchasers or Lessees.

 

18.
Notices. All notices required under this Lease shall be deemed to have
been properly served if delivered in writing personally or by registered mail
to the Lessor at 101 S. Main St., Suite 101, Decatur, Illinois 62523 or such
other place or places as they may designate in writing from time to time.
Notices to Lessee shall be deemed to have been properly served if delivered in
writing personally or by registered mail to the Lessee at STARTEK USA, INC.,
100 Garfield Street, Denver, CO 80207. Attn: Vice President Of Facilities and
Real Estate. Date of service of the notice by mail shall be the date on which
such notice is mailed.

 

19.
Subordination. Lessee will upon demand by Lessor, execute such
instruments as may be required at any time. and from time to time, to
subordinate the rights and interests of the Lessee under this Lease to the lien
of any first mortgage in place, or subsequently placed, on the land of which
the demised premises are a part; provided, however, that such ender or lien
holder agrees that the subordination shall not affect Lessee’s right to
possession, use and occupancy of the demised premises so long as Lessee shall
not be in default under any of the terms or conditions of this Lease.

 

20.
Utilities and Liens. Lessee shall make all necessary arrangements for
utility services, including necessary permit for gas for heating, purposes, if
required. Lessee shall pay promptly all charges for heat, light, gas, water and
power used in or upon the demised premises; shall pay promptly for garbage and
sewage removal and waste removal, if any; and shall pay promptly all bills for
materials furnished or labor performed for Lessee, or at

 

9

 

Lessee’s instance and request, in
connection with any repairs, alterations, improvements, decoration,
installation of fixtures and equipment on the demised premises and to keep said
demised premises free from all claims for lien~ for work. labor or materials on
account thereof.

 

21.
Default. If rent above referred to, or any part thereof, whether the
same be demanded or not, shall remain unpaid after the same becomes due for a
period of thirty (30) days after Tenant’s receipt of Landlords notice of
non-payment, or if any term, condition or covenant of the Lease to be kept or
performed by the Lessee shall be violated or neglected and shall remain so for a
period of (30) days after written notice thereof to the Lessee by the Lessor,
or if a petition in bankruptcy or assignment for the benefit of creditors shall
be filed by the Lessee. or if the Lessee shall be finally adjudicated bankrupt
and the same shall not be discharged within thirty (30) days after written
demand therefore by the Lessor. then the said Lessee does hereby authorize and
fully empower the Lessor to annul and cancel this Lease at once and to re-enter
and take possession of said demised premises in accordance with law immediat61y
and by force, if necessary, without any previous notice of intention to
re-enter and remove all persons and their property therefore and to use such
force and assistance in effecting and perfecting such removal as the Lessor may
deem advisable to recover at once full and exclusive possession of all of said
demised premises whether said demised premises be in possession of the Lessee
or of third persons, or whether said demised premises be vacant. The Lessor
may, however, at its option, at any time after such default or violation of
condition or covenant, re-enter and take possession of said demised premises
without such re-entering working a forfeiture of the rents to be paid and the
covenants to be kept and performed by said Lessee for the full term of this
Lease. in such case, the Lessor may make repairs, alterations and additions in
or to the demised premises and redecorate the same to the extent~ deemed by
Lessor necessary or desirable and Lessee shall, upon demand, pay the cost
thereof, together with Lessor’s expense of the reletting. [f the consideration
collected by Lessor upon any such reletting for Lessee’s account is not
sufficient to pay monthly the full amount of the rent reserved in this Lease.
together with the costs or repairs, alterations, additions, redecoration and
Lessor’s expenses, Lessee shall Pay to Lessor the amount of each monthly
deficiency on demand, more than sufficient to pay the full amount of the rent
reserved herein, together with the costs and expenses of Lessor, at the end of
the stated term of the Lease, shall account for the surplus to Lessee.

 

22.
Titles of Paragraphs. The marginal titles of paragraphs herein are for
convenience only and do not define, limit or construe the contents of such
paragraphs.

 

23,
Covenant to Bind Successor. It is agreed that the provisions, covenants
and conditions of this Lease shall bind and inure to the benefit of the legal
representatives, successors and assigns of the respective parties hereto,

 

241
Attorney Fees. In the event of any legal action related to this Lease,
the non-prevailing party agrees to pay the prevailing party’s reasonable
attorney fees incurred to enforce this Agreement of Lease.

 

25.
Waiver of Subrogation. Lessor hereby releases Lessee and Lessee hereby
releases Lessor from and against any and all claims, demands, liabilities or
obligations whatsoever for damage to the property, or loss or rents or profits
from either Lessor or Lessee resulting from or in any way connected with any
fire, accident or other casualty, whether or not such fire. accident or other
casualty shall have been caused by the negligence or contributory negligence of
either Lessor or Lessee or by any agent, associates or employee of either
Lessor or

 

10

 

Lessee to the extent that such damage or
loss is insured under any insurance contract which at the time of such damage
or loss permits waiver for subrogation rights prior to a loss there under– In
confirmation hereof, Lessor and Lessee shall execute an agreement of waiver of
subrogation and deliver the same to their respective insurance carriers.

 

26. Waiver of Jury Trial and Forum.

 

ALL
PARTIES TO THIS LEASE DO HEREBY WAIVE THE RIGHT TO ANY JURY TRIAL IN ANY
ACTION, PROCEEDING, OR COUNTERCLAIM BROUGHT BY ANY PARTY AGAINST ANY OTHER
PARTY HERETO. THE PARTIES FURTHER AGREE THAT IN ANY ACTION BROUGHT CONCERNING.
THIS COMMERCIAL LEASE SHALL BE BROUGHT ONLY IN THE CIRCUIT COURT OF MACON
COUNTY, ILLINOIS AND HEREBY. WAIVE ANY RIGHT TO ANY OTHER FORUM OR
JURISDICTION.

 

27.
Entire Aqreement. This Commercial Lease shall constitute the entire
agreement between the parties. Any prior understanding or representation of any
kind preceding the date of this Commercial Lease shall not be binding on either
party except to the extent incorporated in this Commercial Lease.

 

28.
Modification. Any modification of this Commercial Lease or any
additional obligation assumed by either party in connection with this
Commercial Lease shall be binding only if evidenced in writing signed by each
party or an authorized representative of each party.

 

29.
Governing Law. This Commercial Lease shall be governed by, construed,
and enforced in accordance with the laws of the state of Illinois. This lease
has been executed at Decatur, Illinois on the date first above written.

 

30.
Estoppels Certificate. At any time and from time to time but not less
than ten (10) days prior written request by Lessor Lessee shall execute
acknowledge and deliver to Lessor, promptly upon request, a certificate (a)
that this Lease is unmodified and in full force and effect (or, if there have
been modifications, that his Lease is in full force and effect, as modified,
and stating the date and nature of each modification). (b) the date, if any, to
which rental and other sums payable hereunder have been paid (c) that no.
notice has been received by Lessee of any default which has not been cured,
except as to defaults specified in the certificate, and (d) such other matters
as may be reasonably requested by Lessor Any such certificate may be relied
upon by any prospective purchaser, mortgages or beneficiary under any deed of
trust of the Building or any part thereof. If Lessee fails to deliver the
certificate within ten (10) days, the Lessee irrevocably constitutes and
appoints Lessor as its special attorney in fact to execute and deliver the
certificate to any third party.

 

31.
The final execution of the lease is subject to the approval and award of funds
by the Illinois Department of Commerce and Economic Opportunity (fka the
Illinois Department of Commerce and Community Affairs) through the Large
Business Program and clearance of the environmental review process. If Lessee
elects to cancel this Lease subject to the conditions set forth above, Lessee
must notify Lessor within seven (7) days of receipt of notice from the Illinois
Department of Commerce and Economic opportunity that Lessee has been denied the
funds set forth above.

 

11

 

IN WITNESS WHEREOF, the parties
have executed this Lease the day and year first above written.

 

	
  By: /s/David
  I. Rosenthal

  	
   

  	
  February 19,
  2003

  	
   

  
	
  Lessee: Star
  Tek

  	
  Date

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ John S.
  Cardwell

  	
   

  	
  Feb 24, 2003

  	
   

  
	
  Lessor or
  Agent

  	
  Date

  	
   

  
	
  One of the
  principals of the owner is a licensed

  	
   

  	
   

  
	
  real estate
  broker.

  	
   

  	
   

  

 

12

 

EXHIBIT A

 

13

 

EXHIBIT B

 

 

February 18, 2003

 

Mr. John S. Cardwell

CEO/Pre sident/Broker/Owner

 

Cardwell Companies.

One Main Place

101 S. Main Street, Suite 800

Decatur, IL 62523

 

RE: Letter of Intent for Fairview Park Plaza

 

Dear John:

 

Jones Lang LaSalle has been authorized to
present the following terms and conditions under which StarTek will lease approximately
38,000 square feet in the above referenced facility:

 

	
  Square Footage:

  	
   

  	
  Approximately 38,000 square feet. As
  discussed, StarTek is interested in maximizing the square footage made
  available on the 1st floor. Upon completion of space plan by Scott
  Jenkins, the square footage to be revised. Final square footage to be
  verified by Landlord’s architect prior to occupancy. Upon mutual agreement of
  re- measurement, per BOMA standards, rent and Lessee’s proportionate share
  shall be revised.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Term:

  	
   

  	
  Seven (7) years commencing upon completion
  of the Premises, estimated to be May 19th, 2003.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Rental Rate:

  	
   

  	
  Years 1 - 7:$5.78 RSF

  
	
   

  	
   

  	
   

  
	
  Base Building Improvements:

  	
   

  	
  Landlord to provide a contribution of
  $375,000 towards Tenant’s build out. The $375,000 allowance is included in
  the above rental rate.

  
	
   

  	
   

  

 

14

 

Mr. John S. Cardwell

February 18, 2003

 

	
   

  	
   

  	
  Landlord shall pay the allowance upon
  receipt of invoices from Tenant, after the commencement date of the lease or
  when the occupancy permit is issued.

  
	
   

  	
   

  	
   

  
	
  Restoration:

  	
   

  	
  StarTek
  shall not be required to remove its initial or standard improvements upon
  term expiration.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Operating
  Expenses and Taxes:

  	
  StarTek
  will be responsible for paying all costs related to the operation and
  maintenance of the facility. StarTek shall pay costs such as utilities and
  janitorial directly to service provider. StarTek will pay its proportionate
  share of property taxes, property insurance, administration/management and
  security. The estimated amount of operating expenses and taxes is estimated
  to be:

  
	
   

  	
   

  	
  • Property taxes
  $.75/sf/yr.

  
	
   

  	
   

  	
  • Insurance
  $.15/sf/yr.

  
	
   

  	
   

  	
  •    Utilities,
  janitorial, R&M, admin/rngmt. and security $1.32/sf/yr

  
	
   

  	
   

  	
  •     Total:
  $2.22/sf/yr.

  
	
   

  	
   

  	
   

  
	
  Parking:

  	
   

  	
  Landlord will provide initially 350
  parking spaces, of which 190 will be in the west lot, 110 m the loading dock
  area and 50 shall be in a designated exclusive parking area in front of the
  building. Landlord shall use best efforts to accommodate future headcount
  expansion. Parking shall be provided to Tenant at no cost. Cost to
  reconfigure and repaint parking areas to accommodate Tenant’s parking
  requirements shall be at Landlord’s sole cost.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
				

 

15

 

	
  Renewal Option:

  	
   

  	
  StarTek shall have two (2) three (3) year
  renewal options at the following rental rates:.

  
	
   

  	
   

  
	
   

  	
   

  	
  • Years 8- 10:$6.50 RSF

  
	
   

  	
   

  	
  • Years 11 - 13:$7.25 RSF

  
	
   

  	
   

  	
   

  
	
  Expansion Option:

  	
   

  	
  If the adjacent beauty supply store space
  comes available, StarTek shall have the option to acquire such space. Such
  space will be provided under the same terms and conditions of this Lease
  except for the tenant improvement allowance. Landlord to provide access
  entrances into the beauty supply store and will deliver the space in a clean
  shell condition, with sufficient HVAC and electrical capacity for standard
  office use.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Signage:

  	
   

  	
  StarTek will, with Landlord approval, have
  signage rights on the front of the building of the Premises.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Satellite Dish:

  	
   

  	
  Tenant shall have the right at no
  additional cost, with Landlord’s approval, to install a satellite  dish.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Training Space:

  	
   

  	
  Landlord to provide 101 Park at no cost
  for Tenant’s interim training use. Landlord understands training will
  commence within thirty (30) days of lease signature and may continue through
  August, 2003.

  
	
   

  	
   

  	
   

  
	
  Competitors:

  	
   

  	
  Landlord shall not allow another call
  center in Fairview Park Plaza.

  
	
   

  	
   

  	
   

  
	
  Landlord Improvements:

  	
   

  	
  Landlord, at Landlord’s sole cost, shall
  replace the roof of the Premises, replace storefront windows, remove
  staircase and escalator and patch floor, replace main entrance stair entry
  and provide separate electrical service meeting

  
	
   

  	
   

  
	
   

  	
   

  

 

16

 

	
   

  	
  local/state codes to the Premises. 
  The escalator will be removed and floor patched within two (2) weeks
  of lease execution.

  
	
   

  	
   

  
	
  Generator/UPS:

  	
  Tenant, at Landlord’s approval, shall allow Tenant to install a
  generator on the exterior of the building and UPS system with batteries on
  the interior of the building.

  
	
   

  	
   

  
	
  Telecommunications:

  	
  Landlord shall cooperate to the fullest extent with StarTek’s
  selected telephone provider to provide fiber access to the Premises.

  
	
   

  	
   

  
	
  Consulting Fee:

  	
  Jones Lang LaSalle shall receive a consulting fee of $6.00/sf to be
  paid in full within thirty (30) days of lease commencement.

  

 

Neither Landlord or StarTek shall be bound by the above terms until a
Lease has been fully executed.

 

Very truly yours,

 

Ryan S. Cunningham

Executive Vice President

Tenant Representation Group

 

RSC/sr

 

Agreed and Acknowledged:

 

	
  StarTek

  	
  Landlord:

  
	
   

  	
   

  
	
  Name:

  	
  /s/ David I.
  Rosenthal

  	
   

  	
  Name:

  	
  /s / John S.
  Cardwell

  	
   

  
	
   

  	
   

  
	
  Title:

  	
  Executive
  Vice President & CFO

  	
   

  	
  Title:

  	
  Owner/Broker

  	
   

  
	
   

  	
   

  
									

 

17

 

EXHIBIT C

	
  

  

 

 

18

 

 

Zoning:

Water/Sewen
City of Decatur

 

 

 

	
  Bectdc/Gas: Illinois Power Co.

  	
  

  
	
  Electric/Gas

  
	
  2435
  Federal Dr

  
	
  Decatur, II
  62526

  
	
   

  
	
  9,000 sq. ft.

  
	
   

  
	
   

  
	
   

  
	
   

  
	
  CARDWELL
  COMPANIES

  
	
  COMMERCIAL REALTY ONE

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
  101 S. Main Street

  Suite 101

  Decathur, IL 62523

  	
  Office, warehouse, and
  manufacturing space available in an industrial park setting. All city
  utilities, plus three phase electric. Fiber optic service available through
  Ameritech. Will remodel to suit. Located off Route 48 with Interstate 72
  access within two miles.  Park 101 is
  home to many national tenants and is perfect for warehouse/distribution,
  telemarketing, insurance claims processing, laboratory, and other uses.
  Broker Owned.

  	 

	
   

  	
  Lease
  Rate: $5.00 - $7.00 sq. ft.

  	 

	
   

  	
   

  	 

	
  Sales:
  217-421-1111

  Leasing:
  217-877-1300

  Fax:
  217-421-1833

  Email:
  John@cardwell.com

  	
  For more information visit
  us on the web at www.cardwell.com

  	
  

  	 

	
   

  	
   

  	 

	
   

  	
   

  	 

	
   

  	
  

   

  	 

				

 

19

 

	
  

  

 

20Exhibit
10.17

 

 

OFFER OF
EMPLOYMENT

 

This is an offer of
employment to Constance M. Kelly from the South Dakota Soybean Processors, P.O.
Box 500, Volga, SD 57071.

 

	
  Title:

  	
   

  	
  Administrative Manager

  
	
   

  	
   

  	
   

  
	
  Reporting To:

  	
   

  	
  Chief Executive Officer
  of the South Dakota Soybean Processors

  
	
   

  	
   

  	
   

  
	
  Starting Date:

  	
   

  	
  May 21, 1996

  
	
   

  	
   

  	
   

  
	
  Starting Salary:

  	
   

  	
  $62,000 per year. First
  month to be prorated based upon starting date.

  
	
   

  	
   

  	
   

  
	
  Incentive Bonus:

  	
   

  	
  Any incentive bonus plan
  has yet to be established. If and when one is established, you will be
  eligible to participate in according to the plan’s guidelines.

  
	
   

  	
   

  	
   

  
	
  Performance Review:

  	
   

  	
  Performance Reviews will
  be conducted every six (6) months. Salary reviews will be conducted annually
  at the end of each fiscal year (August 31).

  
	
   

  	
   

  	
   

  
	
  Benefits:

  	
   

  	
  An employee benefits
  package has yet to be established. Once established, you will become eligible
  to participate in accordance with the plan’s requirements.

  
	
   

  	
   

  	
   

  
	
  Pension/Retirement:

  	
   

  	
  Any pension, retirement
  or savings plan has yet to be established, Once established, you will become
  eligible to participate in accordance with the plan and/or IRS guidelines.

  
	
   

  	
   

  	
   

  
	
  Holidays:

  	
   

  	
  New Year’s Day, Easter,
  Memorial Day, Fourth of July, Labor Day, Thanksgiving, Christmas

  
	
   

  	
   

  	
   

  
	
  Vacation:

  	
   

  	
  You will receive fifteen
  (15) days of vacation per year (September 1 through August 31).

  
	
   

  	
   

  	
   

  
	
  Relocation:

  	
   

  	
  Costs for moving
  household goods, to include insurance coverage, will be paid. Three (3)
  quotes should be received. An allowance for interim living expense will be
  paid for up to two (2) months at the rate of $500/month.

  
	
   

  	
   

  	
   

  
	
  Termination:

  	
   

  	
  Employment is at will.

  

 

I have read and understand
that my signature below denotes my acceptance of this offer.

 

	
  SOUTH
  DAKOTA SOYBEAN PROCESSORS  

  	
   

  	
  CANDIDATE 
  

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
    /s/ Rodney G. Christianson

  	
   

  	
   

  	
  By: 

  	
  /s/ Constance M. Kelly 

  	
   

  
	
  Rodney G. Christianson 

  	
   

  	
  Constance Kelly  

  
	
  Chief Executive Officer  

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Date:

  	
   4/19/96

  	
   

  	
   

  	
  Date:

  	
    4/22/96

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00049-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00049-of-00352.parquet"}]]