Document:

Exhibit 10.1

 

 

PURCHASE AND SALE
AGREEMENT

Among

CA, INC., 

as Seller,

and

ISLAND
HEADQUARTERS OPERATORS LLC and ISLANDIA OPERATORS LLC,

collectively, as Purchaser.

Dated as of August 15,
2006

Property:

One CA Plaza, Islandia, New York

 

 

TABLE OF CONTENTS

 

	
  

  	
   

  	
   

  	
  Page

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 1.

  	
  Interpretation

  	
   

  	
  1

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 2.

  	
  Definitions

  	
   

  	
  2

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 3.

  	
  Agreement to Sell and Purchase

  	
   

  	
  5

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 4.

  	
  Purchase Price; Allocation; Method of Payment

  	
   

  	
  5

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 5.

  	
  Agreement to Lease

  	
   

  	
  5

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 6.

  	
  Due Diligence

  	
   

  	
  5

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 7.

  	
  Responsibility for Costs; Adjustments and Prorations

  	
   

  	
  7

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 8.

  	
  Closing

  	
   

  	
  7

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 9.

  	
  Conditions to Closing

  	
   

  	
  8

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 10.

  	
  Omitted

  	
   

  	
  10

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 11.

  	
  Title Support

  	
   

  	
  10

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.

  	
  Recordation

  	
   

  	
  10

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 13.

  	
  Omitted

  	
   

  	
  11

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 14.

  	
  Representations and Warranties of Seller

  	
   

  	
  11

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 15.

  	
  Representations and Warranties of Purchaser

  	
   

  	
  13

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 16.

  	
  Provisions relating to Representations and
  Warranties

  	
   

  	
  14

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 17.

  	
  Omitted

  	
   

  	
  14

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 18.

  	
  Hazardous Materials

  	
   

  	
  14

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 19.

  	
  AS-IS; RELEASE

  	
   

  	
  15

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 20.

  	
  Indemnification

  	
   

  	
  17

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 21.

  	
  Omitted

  	
   

  	
  17

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 22.

  	
  Omitted

  	
   

  	
  17

  	
   

  

 

 i
 

 

 

	
  

  	
   

  	
   

  	
  Page

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 23.

  	
  Brokers or Advisors

  	
   

  	
  17

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 24.

  	
  Further Assurances

  	
   

  	
  18

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 25.

  	
  Binding Effect

  	
   

  	
  18

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 26.

  	
  No Third Party Beneficiaries

  	
   

  	
  18

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 27.

  	
  Confidentiality

  	
   

  	
  18

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 28.

  	
  Assignment

  	
   

  	
  19

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 29.

  	
  Notices

  	
   

  	
  19

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 30.

  	
  Time of the Essence

  	
   

  	
  20

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 31.

  	
  Severability

  	
   

  	
  20

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 32.

  	
  No Waiver

  	
   

  	
  20

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 33.

  	
  Applicable Law

  	
   

  	
  20

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 34.

  	
  Entire Agreement

  	
   

  	
  21

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 35.

  	
  Modifications

  	
   

  	
  21

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 36.

  	
  Consequential, Exemplary or Punitive Damages

  	
   

  	
  21

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 37.

  	
  Attorneys’ Fees

  	
   

  	
  21

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 38.

  	
  Counterparts

  	
   

  	
  21

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 39.

  	
  Miscellaneous

  	
   

  	
  21

  	
   

  

 

 ii
 

 

 

	
  

  	
  List of Exhibits

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhibit A:

  	
  Description of Land

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhibit B:

  	
  Omitted

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhibit C:

  	
  Omitted

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhibit D:

  	
  Permitted Exceptions

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhibit E:

  	
  Form of Deed

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Schedule A to
  Deed:

  	
  Legal Description of Real Property

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Schedule B to
  Deed:

  	
  Permitted Exceptions

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhibit F:

  	
  Site Plan showing Current LIPA Area and Former LIPA
  Area

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhibit G:

  	
  Site Plan showing Pump Station Area

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  List of Schedules

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Schedule 1:

  	
  Environmental Reports

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Schedule 2:

  	
  Retained Fixtures

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Schedule 3:

  	
  Notices of Violations

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Schedule 4:

  	
  Property Documents

  	
   

  	
   

  	
   

  

 

 iii

 

PURCHASE AND SALE
AGREEMENT (“Agreement”), dated as of the 15th day of August, 2006 among
CA, INC., a Delaware corporation (“Seller”), ISLAND HEADQUARTERS OPERATORS LLC, a Delaware limited liability company, as to
an estate for years of twenty-seven (27) years, beginning on the Closing Date
and ending on the day preceding the twenty-seventh (27th)
anniversary of the Closing Date (“Island”), and ISLANDIA OPERATORS LLC, a
Delaware limited liability company for the remainder interest, consisting
of the entire fee simple interest in the Property other than the estate for
years (“Islandia”, and together with Island, “Purchaser”).

Preliminary Statement

WHEREAS, Seller desires
to sell and convey to Purchaser, and Purchaser desires to purchase and accept
from Seller, any and all of Seller’s right, title and interest in and to the
Property (as hereinafter defined), upon and subject to the terms and conditions
set forth herein.

WHEREAS,
contemporaneously with the closing of said sale and purchase, Purchaser, as
lessor, and Seller, as lessee, desire to enter into a lease of the Property,
all as more particularly set forth herein.

NOW, THEREFORE, in
consideration of the mutual covenants and agreements contained herein and other
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:

Section 1.               Interpretation.  Unless a clear contrary intention appears:

(a)           The terms “herein”, “hereto”, “hereunder”
and all terms of similar import shall be deemed to refer to this Agreement as a
whole rather than to any Article or Section of or Exhibit to this Agreement.

(b)           Unless otherwise specified,
references in this Agreement to (i) “Section      ”, “Subsection
     ” or “Article      ”
shall be deemed to refer to the Section, Subsection or Article of this
Agreement bearing the number so specified, (ii) “Exhibit      ”
shall be deemed to refer to the Exhibit or Schedule of this Agreement bearing
the letter or number so specified, and (iii) references to this “Agreement”
means this Agreement and any exhibits and attachments hereto.

(c)           Unless otherwise specified or unless
inappropriate in any specific context, all references in this Agreement to any
singular noun shall be deemed equally applicable to the plural of such noun,
and all references to the plural of any noun shall be deemed equally applicable
to the singular of such noun.

(d)           Captions used for or in Sections,
Articles, Schedules and Exhibits of this Agreement are for convenience of
reference only and shall not affect the construction of this Agreement.

(e)           The
terms “include”, “including” and “such as” shall each be construed as if
followed by the phrase “without being limited to”.

 

 

 

(f)            If the last day of any time period
stated herein shall fall on a day that is not a Business Day, then the duration
of such time period shall be extended so that it shall end on the next
succeeding day that is a Business Day.

(g)           A reference to any statute,
regulation, proclamation, ordinance or law includes all statutes, regulations,
proclamations, ordinances or laws varying, consolidating or replacing them, and
a reference to a statute includes all regulations, proclamations and ordinances
issued or otherwise applicable under that statute.

(h)           If a provision hereof states that a
party may not unreasonably withhold its consent or approval hereunder, then
such party may also not unreasonably condition or delay such consent or
approval.

(i)            Neither party (nor its counsel)
shall be deemed to have been the drafter of this Agreement, such that it shall
not be construed against any party as the drafter thereof.

Section 2.               Definitions.  The following terms shall have the following
meanings for all purposes of this Agreement:

“Access
Agreement” shall have the meaning set forth in Section 6(c).

“Buildings”
shall mean the buildings and structures on the Property, including, the
six-story central office tower, the two-story atrium building and the two-story
annex.

“Business Day”
shall mean any day other than (i) Saturday and Sunday or (ii) a day on which
the banks in State are required to close.

“Claims” shall
have the meaning set forth in Section 20(a).

“Closing” shall
mean the closing of the purchase, sale and lease of the Property pursuant
hereto.

“Closing Date”
shall mean the date of this Agreement.

“Current LIPA Area”
shall have the meaning given such term in Section 6(b).

“Deed” shall mean
the form of deed attached hereto as Exhibit E.

“Due Diligence Period”
shall have the meaning given such term in Section 6(a).

“Environmental Laws”
shall have the meaning given such term in the Lease.

“Environmental Reports”
shall mean the environmental assessment reports specified on Schedule 1
hereto.

“Escrow Instructions”
shall have the meaning set forth in Section 4(b).

“Fixtures”
shall have the meaning set forth in the definition of the term “Property”.

 

 2
 

 

 

“Former LIPA Area”
shall have the meaning given such term in Section 6(b).

“Governmental
Authority” shall have the meaning given such term in the Lease.

“Improvements”
shall mean the Buildings and all fixtures attached to or located in, on or
under the Buildings and other structures situated on the Land, including the
roads, parking lots and structures, structural systems, mechanical systems,
electrical systems, power plants, storage tanks, heating, ventilation and air
conditioning systems, plumbing systems, fire and life-safety systems, access
ways, sidewalks, recreational areas, vehicle control facilities, landscaping
and utility systems used or procured for use in connection with the operation and
maintenance of the Property, excepting, however, any personalty, including
machinery, inventory, tools, trade equipment, trade fixtures and furniture.

“Land”
shall have the meaning set forth in the definition of the term “Property”.

“Lease” shall mean
the form of lease agreement being executed and delivered concurrently herewith.

“LIPA” shall have
the meaning given such term in Section 6(b).

“Organizational
Document” means with respect to any Person (i) in the case of a
corporation, such Person’s certificate of incorporation and by-laws, (ii) in
the case of a limited partnership, such Person’s certificate of limited
partnership, limited partnership agreement and any voting trusts or similar
arrangements applicable to its partners or any of its partnership interests,
(iii) in the case of a limited liability company, such Person’s certificate of
formation or certificate of organization, limited liability company agreement
and any other document affecting the rights or duties of managers or holders of
limited liability company interests or (iv) in the case of any other legal
entity, such Person’s organizational documents and all other documents
establishing or affecting the duties or rights of holders of equity interests
in such Person.

“Permitted Exceptions”
means those items set forth on Exhibit D,
together with any other title matter that, in Purchaser’s reasonable
discretion, does not affect (other than to an immaterial extent) the value or
intended use of the Property.

“Property”
means that real property described on Exhibit A
(the “Land”); together with the Buildings and the other Improvements;
together with all replacements, modifications, alterations and additions
thereto; together with all easements, rights and appurtenances relating to the
Land or the Improvements; but excluding any Retained Fixtures (collectively,
excluding the Retained Fixtures, the “Fixtures”), subject to the
Permitted Exceptions. Notwithstanding the foregoing or anything to the contrary
herein, the following are expressly excluded from the definition of “Property”
hereunder: (a) all tangible and intangible personal property, including all
intellectual property whether owned or leased by Seller or third parties, all
software object and source code, all trade fixtures, furniture and furnishings
(including computers, servers, inventory and tools) and all equipment in any
way related to the use, occupancy, repair or maintenance of the Property,
except if the same is incorporated into the structural, mechanical, plumbing,
heating, ventilation and air conditioning or electrical systems of any of the
Main Buildings, and (b) any deposits with from utility companies or
governmental

 

 3
 

 

 

agencies provided by
Seller and any refunds that are now or may hereafter be payable in respect of
the Property (including relating to real estate taxes) attributable to the
period prior to the Closing Date.

“Property Documents”
shall have the meaning set forth in Section 14(k).

“Pump Station Area”
shall have the meaning set forth in Section 6(b).

“Purchase Price”
shall have the meaning set forth in Section 4(a).

“Purchaser” shall
have the meaning set forth in the introduction, and unless otherwise stated or
the context shall otherwise require, references to “Purchaser” herein shall be
deemed to mean each of the parties comprising Purchaser.

“Purchaser Parties”
shall have the meaning set forth in Section 20(b).

“Purchaser Related
Party” shall have the meaning set forth in Section 19(b).

“Purchaser’s
Designated Representatives” means Francesco Piovanetti and David Metzman,
provided that on notice to Seller, Purchaser shall have the right from time to
time to replace any one or more of the above-specified persons.

“Purchaser’s knowledge”,
“known to Purchaser” and words of similar import shall mean to the
actual knowledge of either of Purchaser’s Designated Representatives.

“Retained Fixtures”
means those fixtures in respect of the Improvements specified on Schedule 2
hereto.

“Seller” shall
have the meaning set forth in the introduction.

“Seller Parties”
shall have the meaning set forth in Section 20(a).

“Seller Related Party”
shall have the meaning set forth in Section 19(b).

“Seller’s Designated
Representatives” means Charles Quinn, provided that, on notice to
Purchaser, Seller shall have the right from time to time to replace any one or
more of the above-specified persons.

“Seller’s knowledge”,
“known to Seller” and words of similar import shall mean the actual
knowledge of Seller’s Designated Representatives.

“State” means New
York State.

“Subordination,
Nondisturbance and Attornment Agreement” shall have the meaning set forth
in Section 12.

“Title
Documents” shall have the meaning set forth in Section 6(b).

 

 4
 

 

 

Section 3.               Agreement to Sell and
Purchase.  Seller agrees to sell and
convey to Purchaser, and Purchaser agrees to purchase and take from Seller, the
Property, subject to and in accordance with all of the terms and conditions of
this Agreement.

Section 4.               Purchase Price;
Allocation; Method of Payment. 
(a)  The purchase price for the Property (the “Purchase
Price”) shall be TWO HUNDRED FOUR MILLION THREE HUNDRED THOUSAND AND 00/100
DOLLARS ($204,300,000.00), and shall be payable as set forth below in this Section
4.

(b)           On the Closing Date, Island shall pay
to Seller cash in the amount of ONE HUNDRED EIGHT MILLION FOUR HUNDRED THOUSAND
AND 00/100 DOLLARS ($108,400,000.00), and Islandia shall pay to Seller in cash
NINETY-FIVE MILLION NINE HUNDRED THOUSAND AND 00/100 DOLLARS ($95,900,000.00),
which latter amount shall be adjusted for prorations, if any, as provided for
in this Agreement.

(c)           At the Closing, and subject to the
satisfaction of all conditions to Closing, the Purchase Price (adjusted to
reflect prorations and other adjustments, if any) shall be paid to Seller by
wire transfer of immediately available federal funds to the following account
(or, at Seller’s election, such other account as Seller may designate no later
than two (2) Business Days prior to the Closing Date):

Bank:  Wachovia Bank, N.A.

ABA#:  0312-0146-7

Account Name:  CA, Inc.

Account Number:  2000028308067

Section 5.               Agreement to Lease.  On the Closing Date, and as a condition to
each party’s obligations hereunder, Purchaser shall lease to Seller, and Seller
shall accept and lease from Purchaser, the Property, on the terms and
conditions set forth in, and in accordance with, the provisions of the
Lease.  The provisions of this Section
shall survive the Closing.

Section 6.               Due Diligence.

(a)           Generally.  Purchaser had the period of time commencing
on or about May 17, 2006 and continuing until the date hereof (such period, the
“Due Diligence Period”) to review and approve all matters relating to
the Property, including:

(i)            all
matters relating to title (including easements and access rights affecting the
Property), subject, however, to the terms of Section 6(b) below,

(ii)           governmental
and other legal requirements (including taxes, assessments, zoning, use permit
requirements, building codes, certificates of occupancy, governmental permits,
site plans, and other plans and specifications, including the lack of any of
the foregoing),

 

 5
 

 

 

(iii)          the
physical condition of the Property, including the interiors, exteriors,
structures, pavements, utilities and other physical and functional aspects of
the Property,

(iv)          leases
and occupancies affecting the Property,

(v)           service
contracts, construction contracts, management contracts, operating agreements,

(vi)          the
financial condition of Seller, and

(vii)         any
other agreements, documents, instruments or the like material to the use,
value, operation, repair, development or leasing of the Property.

(b)           Title Matters.  Concurrently with and prior to the
execution and delivery hereof, Purchaser has reviewed such surveys, title
commitments and title documents (collectively, “Title Documents”) in
respect of the Property as Purchaser shall have deemed appropriate or necessary
in connection with its contemplated purchase of the Property, and agrees and
acknowledges that disposition or other removal of any lien, encumbrance, claim
or defect of any sort or manner in respect of title to the Property shall not
be a condition to Purchaser’s obligations. 
For the avoidance of doubt, Purchaser expressly acknowledges that the
following shall constitute Permitted Exceptions: (i) (A) the presence of Long
Island Power Authority (together with its successors, “LIPA”) power
lines and the utility poles as currently situated on the southern and eastern
portion of the Land as more particularly shown on Exhibit F (the land on which such poles are currently
situate and any nearby land reasonably necessary or appropriate for the
maintenance, repair and replacement of such power lines and utility poles, and
access thereto (collectively, the “Current LIPA Area”), and any fee or
easement rights of LIPA that LIPA may currently have in respect of the Current
LIPA Area, (B) LIPA’s fee ownership of several parcels in respect of which
Seller has easement rights (as shown in the Title Report) (the “Former LIPA
Area”), as more particularly shown on Exhibit
F, (C) the rights of LIPA and the obligations of Seller
(including those obligations that run with the land) pursuant to that certain
Electric Facilities Construction Agreement, dated April 15, 1999, between
Seller (then known as Computer Associates International, Inc.) and LIPA, and
(ii) any fee, easement and/or rights of Suffolk County or any of its agencies
or subdivisions, or any water or utility company in respect of the pump station
on the southeastern portion of the Land as more particularly shown on Exhibit G hereto (the “Pump Station
Area”), including rights to maintain, repair and replace underground pipes,
conduits and the like on the Property outside of the Pump Station Area running
between the Pump Station Area and the outer boundaries of the Land, which
pipes, conduits and the like would service the Property and/or other
properties, and including necessary or appropriate rights of access and egress
in connection with the foregoing, whether now existing or hereafter granted by
Seller.

(c)           Inspection. During the Due Diligence
Period, Purchaser and its representatives were granted access to the Property
to inspect the same from time to time in accordance with the terms of that
certain Access Agreement, dated as of May 17, 2006, between Seller and CRIC
Capital, LLC, a Delaware limited liability company and asset manager of
Purchaser, as the same was amended from time to time (the “Access Agreement”).  Purchaser shall comply with the obligations
of “Purchaser” under the Access Agreement.

 

 6
 

 

 

 

Section 7.               Responsibility for
Costs; Adjustments and Prorations. 
The following adjustments and prorations shall be made at Closing (and
the obligations of Seller and Purchaser under this Section shall survive the
Closing):

(a)           Transfer Taxes; Recording Charges.  Seller or Purchaser (as specified below)
shall pay, at Closing and in the manner required by law, the following taxes
and charges that may be due and payable by reason of the execution, delivery
and/or recordation of the Deed and the other transactions contemplated hereto
(and Seller and Purchaser shall each execute and deliver such transfer tax
declarations or affidavits of consideration and transfer tax returns and,
without increasing any liability hereunder expressly agreed to on the part of
such party, such other documents and instruments as may be required by law or
prevailing custom):

(i)            Seller
shall pay the state transfer tax,

(ii)           Seller
shall pay recording fees for the recordation of the Deed, and

(iii)          Purchaser
shall pay any mortgage recording taxes and recording charges.  (if any) that may be due and payable by
reason of the execution, delivery and/or recordation of any mortgage or deed of
trust securing Purchaser’s financing.

(b)           Title Insurance and Surveys.  Purchaser shall pay the costs of Purchaser’s
and its mortgagee’s title insurance and the costs of survey work.

(c)           No Prorations and Adjustments;
Credits or Refunds.  Because the
Property will be net leased to Seller under the terms of the Lease as of the
Closing Date, it is agreed that the parties will not make prorations or
adjustments at the Closing of property charges that are otherwise customarily
prorated and adjusted between buyers and sellers of real property (such as real estate taxes, water, sewer, utility charges and
service contract payments).  Seller may
retain, and Purchaser shall promptly upon receipt pay over to Seller, any
credits or refunds in respect of any such charges allocable to the period prior
to the Closing (and Seller shall have the same rights of contest as Seller (as
lessee) has in respect of such charges allocable to the term of the Lease).

(d)           Each of Seller and Purchaser shall
pay its respective attorneys’ fees and expenses, and Purchaser shall pay any
costs, fees and expenses (including attorneys’ fees) incurred in connection
with the arrangement of any mortgage or other financing in connection with the
transactions contemplated hereby.

(e)           The provisions of this Section shall
survive the Closing.

Section 8.               Closing.  The Closing shall be held concurrently with
the execution of this Agreement in the offices of Seller’s counsel or at such
other location as the parties shall mutually determine.  Subject to the other terms and conditions
hereof, at the Closing, Seller shall convey Seller’s title to the Property to
Purchaser by the Deed, subject to Permitted Exceptions, without any warranty or
representation of any kind (except as expressly provided herein), concurrently
with payment of the Purchase Price by the Purchaser.  Purchaser’s acceptance of the Deed shall be
deemed to be the full performance and discharge of any and all

 

 7
 

 

 

of Seller’s obligations hereunder, except those expressly set forth
herein as surviving (subject to any other limitations on such survival
expressed herein).

Section 9.               Conditions to Closing.  (a)  Conditions to Seller’s
Obligations.  The obligation of Seller to
close title on the Closing Date under this Agreement is subject to the
fulfillment on or prior to the Closing Date of the following conditions, any
one or more of which may be waived by Seller in writing:

(i)            Payment
of the Purchase Price.  Seller shall have
received the Purchase Price as provided herein.

(ii)           Purchaser
Representations and Warranties.  All
representations and warranties of Purchaser contained herein shall be true and
correct in all material respects on the Closing Date.

(iii)          Purchaser’s
Covenants.  Purchaser shall have
performed in all material respects all of its material obligations and complied
in all material respects with all of its material covenants in this Agreement
to be performed or complied with on or prior to the Closing Date.

(iv)          Officer’s
Certificate.  Seller shall have received
an Officer’s Certificate from Purchaser certifying (A) Purchaser’s
Organizational Documents and (B) authorizing resolutions for Purchaser’s
execution and delivery of this Agreement and the Lease and all other agreements
and instruments to be executed and delivered by Purchaser hereunder or
thereunder as of the Closing Date, Purchaser’s consummation of the transactions
contemplated herein and therein and performance of all obligations hereunder
and thereunder, together with an incumbency certificate for each signatory of
this Agreement, the Lease and any other agreement or instrument to be delivered
hereunder or thereunder.

(v)           Purchaser
Deliveries. Purchaser shall have executed and delivered to Seller a counterpart
of the Lease and an opinion of Purchaser’s counsel that the Lease is
enforceable against Purchaser in accordance with its terms subject to customary
bankruptcy and equitable remedies.

(vi)          Execution
and Delivery of other Closing Documents. 
Purchaser shall have executed and delivered each of the other documents,
agreements and other instruments to be executed and delivered by Purchaser
hereunder at or before the Closing (including, if applicable, the
Subordination, Nondisturbance and Attornment Agreement).

(vii)         Other
Conditions.  Any other matter expressly
set forth herein as a condition to Seller’s obligation to close or as a matter
to be completed or effected prior to Closing.

(b)           Conditions
to Purchaser’s Obligations.  The
obligation of Purchaser to close title under this Agreement on the Closing Date
is subject to the fulfillment on or prior to the Closing Date of the following
conditions, any one or more of which may be waived in writing by Purchaser:

 

 8
 

 

 

(i)            Seller
Representations and Warranties.  All
representations and warranties of Seller contained herein shall be true and
correct in all material respects on the Closing Date (except for those
representations and warranties that are made only as of a specified date).

(ii)           Seller’s
Covenants.  Seller shall have performed
in all material respects all of its obligations and complied in all material
respects with all of its covenants in this Agreement to be performed or
complied with on or prior to the Closing Date.

(iii)          Officer’s
Certificate.  Purchaser shall have
received an Officer’s Certificate certifying (A) Seller’s Organizational
Documents and (B) evidence reasonably satisfactory to Purchaser of the
authorization, execution and delivery by Seller of this Agreement and the
Lease, respectively, and all other agreements and instruments to be executed
and delivered by Seller hereunder or thereunder (respectively) as of the
Closing Date, together with an incumbency certificate for each signatory of
this Agreement, the Lease and any other agreement or instrument to be delivered
hereunder or thereunder.

(iv)          Seller
Deliveries.  Seller shall have delivered
to Purchaser:

(A)  a bargain and sale
deed in the form attached as Exhibit E,
with covenant against grantor’s acts, in recordable form, duly authorized and
executed by or on behalf of Seller, conveying fee simple title to the Property,
subject to all Permitted Exceptions (the “Deed”),

(B)  a counterpart of the
Lease, duly executed by or on behalf of Seller,

(C)  an affidavit certifying
that Seller is not a “foreign person” within the meaning of Sections 1445 or
7701 of the Code,

(D)  [omitted];

(E)  to the extent in
Seller’s possession and not otherwise delivered or available to Purchaser prior
to the Closing, copies of all governmental permits and certificates of
occupancy,

(F)  any applicable State
or local transfer tax forms in accordance with Section 7(a),

(G)  an assignment by Seller to Purchaser of (1)
all licenses, permits and other governmental approvals to operate the Property,
and (2) all warranties and guarantees with respect to the improvements,
fixtures and equipment (if any) included within the Property, provided that
such assignment shall be restricted to such items which legally may be assigned
and the assignment of which does not impair in any respect or result in the
loss of the rights of the holder thereunder.

 

 9
 

 

 

(H)  documents reasonably
required by the Purchaser’s lender to be signed by Seller such as an estoppel
by Seller in respect of the Lease in form and substance reasonably acceptable
to Seller and Purchaser’s lender, the Subordination, Nondisturbance and
Attornment Agreement (as defined in Section 12(ii)) and other customary
documents; provided, however, that the foregoing shall not impose any
additional liabilities or duties upon Seller beyond those imposed herein and as
of the date hereof or imposed upon Seller, as lessee, under the Lease, and

(I)  an opinion of Seller’s
counsel that the Lease is enforceable against Seller in accordance with its
terms subject to customary bankruptcy and equitable remedies.

(v)           Execution
and Delivery of Other Closing Documents. 
Seller shall have executed and delivered each of the other documents,
agreements and other instruments to be executed and delivered by Seller hereunder
at or before the Closing.  Seller shall
execute and deliver each of the other documents, agreements and other
instruments to be executed and delivered by Seller hereunder at or before the
Closing.

(vi)          Other
Conditions.  Any other matter expressly
set forth herein as a condition to Purchaser’s obligation to close or as a
matter to be completed or effected prior to Closing.

Notwithstanding anything
herein that may be construed to the contrary, under no circumstances shall
Purchaser’s obligations hereunder be conditioned on Purchaser’s ability to
obtain and/or close on any financing to pay all or any portion of the Purchase
Price.

Section 10.             Omitted.

Section 11.             Title Support.  At the Closing, in connection with the
issuance of title policies in respect of the Deed and any mortgage by
Purchaser, each of Seller and Purchaser agrees that it shall execute and
deliver to the Title Company such certificates and similar documentary evidence
as the Title Company may reasonably require to establish the authority of the
individual signing this Agreement and the other instruments and agreements to
be delivered at Closing by such party or such other matters as the Title
Company may reasonably request; provided, however, neither party shall be
required to execute and deliver any such certificate, instrument or agreement
that increases in any material respect any obligation or risk of liability on
the part of such party that such party would otherwise have hereunder, except
Seller will provide a customary affidavit to the Title Company (with such
changes therein as may be requested by Seller and agreed to by the Title
Company).

Section 12.             Recordation.  The parties will instruct the Title Company
to record the following instruments in the indicated order, in the appropriate
land recording office for the Property:

(i)            The
Deed;

 

 10
 

 

 

(ii)           If a
mortgage or deed of trust in respect of the Property has been granted by
Purchaser in connection with the Closing,

(A)such mortgage or deed of trust;

(B)a subordination, nondisturbance and attornment agreement in
the form of Exhibit D to the Lease (the “Subordination,
Nondisturbance and Attornment Agreement”), which shall be executed and
delivered by Purchaser, Seller and the holder of such mortgage or deed of trust
lien; and

(C)a memorandum of lease executed by Purchaser and Seller in
form and substance reasonably satisfactory to the parties.

The provisions of this
Section shall survive the Closing.

Section 13.             Omitted.

Section 14.             Representations and
Warranties of Seller.  Seller represents
and warrants to Purchaser the following:

(a)           Seller is a corporation duly
organized, validly existing and in good standing under the laws of the state of
Delaware.

(b)           Seller has the lawful right, power,
authority and capacity to consummate the transactions contemplated by this
Agreement in accordance with the terms, provisions and conditions of this
Agreement.  Seller has the lawful right,
power, authority and capacity to consummate the transactions contemplated by
the Lease in accordance with the terms, provisions and conditions of the Lease.

(c)           This Agreement has been duly
authorized by all necessary corporate action on the part of Seller. This
Agreement has been duly executed and delivered by Seller, and the execution,
delivery and performance hereunder do not (i) require any approval of the
stockholders of Seller or any approval or consent of any trustee or holder of
any indebtedness or obligation of Seller or any other person other than such
consents and approvals as have been obtained, (ii) contravene any applicable
law binding on Seller or (iii) contravene or result in any breach of or
constitute any default under Seller’s Organizational Documents, or any
indenture, mortgage, loan agreement, lease or other agreement or instrument to
which Seller is a party or by which Seller is bound, or result in the creation
of any lien upon any property of Seller, where such breach, default or creation
of lien would have a material adverse effect on the ability of Seller to
perform its obligations under this Agreement.

(d)           Upon the execution and delivery of
the Lease, the Lease shall have been duly authorized by all necessary corporate
action on the part of Seller and duly executed and delivered by Seller, and the
execution, delivery and performance thereunder will not (i) require any
approval of the stockholders of Seller or any approval or consent of any
trustee or holder of any indebtedness or obligation of Seller or any other
person other than such consents and approvals as have been obtained, (ii)
contravene any applicable law binding on Seller or (iii) contravene or result
in any breach of or constitute any default under Seller’s Organizational

 11

 

 

Documents, or any indenture, mortgage, loan
agreement, lease or other agreement or instrument to which Seller is a party or
by which Seller is bound, or result in the creation of any lien upon any
property of Seller, where such breach, default or creation of lien would have a
material adverse effect on the ability of Seller to perform its obligations
under the Lease.

(e)           This Agreement constitutes the legal,
valid and binding obligation of Seller, enforceable against Seller in
accordance with its terms, except as may be limited by bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting creditors’ rights
generally and by general equity principles.

(f)            Upon execution and delivery by
Seller (and when duly executed and delivered by Purchaser), the Lease will
constitute the legal, valid and binding obligation of Seller, enforceable
against Seller in accordance with its terms, except as may be limited by
bankruptcy, insolvency, reorganization, moratorium or other similar laws
affecting creditors rights generally and by general equity principles.

(g)           All authorizations, consents or
approvals by any Governmental Authority required in connection with the
execution and delivery by Seller of this Agreement and the Lease, respectively,
or in connection with the performance by Seller of its obligations under this
Agreement, or in connection with the performance by Seller of its obligations
under the Lease to be performed as of the Closing Date, have been obtained,
given or made.

(h)           There are no actions, suits or
proceedings against Seller pending or, to Seller’s knowledge, threatened which
adversely affect title to the Property (including any proceeding in
condemnation or eminent domain) or which, if determined adversely to Seller,
would materially adversely affect Seller’s ability to perform its obligations
under this Agreement or the Lease, respectively.

(i)            Except as may be set forth on Schedule
3 hereto, to Seller’s Knowledge, Seller has not received any written
notices of violation of any of the Property Documents or any written notice
from any Governmental Authority of violations affecting the Property that have
not been cured and have a material adverse effect on the value of the Property.

(j)            Except as may be disclosed in the
Environmental Reports, to Seller’s knowledge:

(i)            the
Property is in material compliance with all Environmental Laws; and

(ii)           Seller
has not received any written notices, claims, actions or proceedings from any
Governmental Authority of violations of any Environmental Laws affecting the
Property that have not been cured and have a material adverse effect on the
value of the Property.

(k)           Schedule 4 hereto lists each
agreement entered into by Seller (or otherwise known to Seller) that has a
material adverse effect on the value of Purchaser’s interest in the Property,
taking into account Seller’s obligations as “Lessee” under the Lease, and
running as a covenant with the land such that the Property would be subject
thereto from and after the Closing (the “Property Documents”).

 12
 

 

 

(l)            Seller’s Designated Representatives
serve in positions that make them the appropriate persons to make statements
qualified herein by “Seller’s Knowledge.”

Section 15.             Representations and
Warranties of Purchaser.  Purchaser
represents and warrants to Seller the following:

(a)           Purchaser is a limited liability
company, duly organized or formed, validly existing and in good standing under
the laws of the state of Delaware and is qualified to do business in the State.

(b)           Purchaser has the lawful right,
power, authority and capacity to consummate the transactions contemplated by
this Agreement and the Lease in accordance with the terms, provisions and
conditions of, respectively, this Agreement and the Lease.

(c)           Each of this Agreement and the Lease
has been duly authorized by all necessary corporate action on the part of
Purchaser. This Agreement and the Lease have been duly executed and delivered
by Purchaser, and the execution, delivery and performance by Purchaser of its
obligations under this Agreement and the Lease do not and will not (i) require
any approval of the equity owners of Purchaser or any approval or consent of
any trustee or holder of any indebtedness or obligation of Purchaser or any
other person other than such consents and approvals as have been obtained, (ii)
contravene any Applicable Law binding on Purchaser or (iii) contravene or
result in any breach of or constitute any default under Purchaser’s
Organizational Documents, or any indenture, mortgage, loan agreement, lease or
other agreement or instrument to which Purchaser is a party or by which
Purchaser is bound, or result in the creation of any lien upon any property of
Purchaser, where such breach, default or creation of Lien would have a material
adverse effect on the ability of Purchaser to perform its obligations under
this Agreement or the Lease.

(d)           This Agreement and the Lease
constitute, the legal, valid and binding obligation of Purchaser, enforceable
against Purchaser in accordance with their respective terms, except as may be
limited by bankruptcy, insolvency, reorganization, moratorium or other similar
laws affecting creditors rights generally and by general equity principles

(e)           All authorizations, consents or
approvals by any Governmental Authority required in connection with the
execution, delivery and performance by Purchaser of this Agreement and the
Lease have been obtained, given or made.

(f)            There are no actions, suits or
proceedings pending or, to Purchaser’s knowledge, threatened against or
affecting Purchaser.

(g)           Neither Purchaser nor any person who
owns a direct or indirect interest in or otherwise controls Purchaser is (i)
listed on the Specially Designated Nationals and Blocked Persons List or any
other similar list maintained by the Office of Foreign Assets Control,
Department of the Treasury, pursuant to any authorizing statute, Executive
Order or regulation, (ii) a “specially designated global terrorist” or other
person listed in Appendix A to Chapter V of 31 C.F.R., as the same has been
from time to time updated and amended, or (iii) a person either (A) included
within the term “designated national” as defined in the Cuban Assets Control
Regulations, 31 C.F.R. Part 515 or (B) designated under Sections 1(a), 1(b),
1(c) or 1(d) of

 13
 

 

 

Executive Order No. 13224, 66 Fed. Reg. 49079
(published September 25, 2001) or a person similarly designated under any
related enabling legislation or any other similar Executive Orders. None of
Purchaser or any owner of a direct or indirect legal or beneficial interest in
Purchaser is restricted or prohibited from entering into this Agreement or the
Lease (either directly or indirectly) by any United States federal or state
law, Executive Order of the President of the United States or any rule,
regulation or other promulgation of any Governmental Authority.

(h)           Purchaser has taken measures to the
extent required by law (including the Bank Secrecy Act, 31 U.S.C. §§ 5311
et seq., and all applicable laws, regulations and government guidance on
compliance therewith and on the prevention and detection of money laundering
violations under 18 U.S.C. §§ 1956 and 1957) to assure that (i) funds
to be used to pay the Purchase Price and (ii) with respect to each holder
of a direct or indirect interest in Purchaser, funds invested by such holders
in Purchaser, are derived from legal sources. 
The source of Purchaser’s funds for the payment of the Purchase Price is
as follows: (y) proceeds of the sale of U.S. real estate held by J.P.
Morgan Property Exchange Inc. on behalf of Westminster Properties, Ltd. and
Wellington Estates, Ltd., indirect owners of Purchaser (“Owners”), and
contributed by Owners, through other affiliates (the “Other Affiliates”), to
Purchaser, all of which Other Affiliates are United States
persons, are not competitors of Seller and satisfy the U.S. “PATRIOT
Act” requirements;(z) other unencumbered funds of Owners contributed by Owners,
through the Other Affiliates, to Purchaser. All of Purchaser’s funds for the
payment of the Purchase Price are being wired from accounts at JPMorgan/Chase
and are derived from legal sources, and the individual(s) constituting the
ultimate beneficial owner(s) of such funds is Jay Johnston of Gramercy Advisors
(Greenwich, CT).

Section 16.             Provisions relating to
Representations and Warranties.  Unless
otherwise expressly provided herein to the contrary, the representations and
warranties set forth in Section 14(h) through 14(k) shall survive
the delivery of the Deed and the consummation of the transactions to be
consummated on the Closing Date for a period of six (6) months after the
Closing Date, and no claim may be brought or asserted by either party hereto on
the basis of a misrepresentation or a breach of a warranty made herein unless a
legal action shall have been commenced thereon prior to the expiration of said
period. In no event shall a party be liable for a misrepresentation or breach
of warranty hereunder if the facts giving rise to such misrepresentation or
breach was disclosed or actually known to the other party (or its counsel) on
or prior to the date hereof; provided, however, nothing herein contained shall
relieve Seller of its obligations and duties as lessee under the Lease.

Section 17.             Omitted.

Section 18.             Hazardous Materials.  In addition to and not by way of limitation
of the sale of the Property on an “AS IS” basis under this Agreement, Purchaser
acknowledges receipt of the Environmental Reports.  Purchaser has made such studies and
investigations, conducted such tests and surveys and engaged such specialists
and experts as Purchaser deems appropriate to fairly evaluate the Property and
its risks from environmental, hazardous or toxic materials and chemicals.
Purchaser shall have no recourse to Seller in respect of the Environmental
Reports. Seller makes no representations or warranties whatsoever to Purchaser
regarding: (i) the Environmental Reports (including the contents and/or
accuracy thereof), and (ii) the presence, location or scope of any
hazardous or toxic materials or chemicals in, at, or

 14
 

 

 

under the Property. By its execution of this Agreement, Purchaser
hereby releases Seller from any and all liability to Purchaser and to Purchaser’s
successors in interest attributable to the presence, discovery, or removal of
any hazardous or toxic materials or chemicals in, at, or under the Property,
except as otherwise provided in the Lease. 
Notwithstanding anything herein to the contrary, the agreements of
Purchaser set forth in this Section shall survive the execution and delivery of
(and shall not merge into) the Deed and shall be enforceable at any time
thereafter. The foregoing shall not be deemed to affect any obligation,
liability or rights of Purchaser as lessor or of Seller as lessee pursuant to
the provisions of the Lease.

Section 19.             AS-IS; RELEASE.  (a)  PURCHASER HAS AGREED TO ACCEPT
POSSESSION OF THE PROPERTY ON THE CLOSING DATE ON AN “AS IS” BASIS.  SELLER AND PURCHASER AGREE THAT THE PROPERTY
SHALL BE SOLD “AS IS, WHERE IS, WITH ALL FAULTS” WITH NO RIGHT OF SET-OFF OR
REDUCTION IN THE PURCHASE PRICE, AND, EXCEPT AS MAY BE EXPRESSLY SET FORTH
HEREIN, SUCH SALE SHALL BE WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND,
EXPRESS OR IMPLIED (INCLUDING ANY WARRANTY OF OR WITH RESPECT TO INCOME
POTENTIAL, DEVELOPMENT FEASIBILITY, POTENTIAL OR COSTS, OPERATING EXPENSES,
USES, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE), AND SELLER DOES
HEREBY DISCLAIM AND RENOUNCE ANY SUCH REPRESENTATION OR WARRANTY, EXCEPT AS MAY
BE EXPRESSLY SET FORTH HEREIN.  Purchaser
and experts of Purchaser’s choice have (i) physically inspected the Property,
(ii) determined the fair market value of the Property in its “AS IS”
condition, (iii) analyzed the present and projected uses of the Property,
and (iv) independently tested and examined the Property from a physical,
structural and environmental standpoint. Purchaser is not relying upon any
representation, inducement or unperformed promise of Seller or Seller’s agents
except to the extent such inducement, representation or unperformed promise is
expressly set forth herein.

(b)           PURCHASER HEREBY RELEASES SELLER AND
ANY AGENT, REPRESENTATIVE, AFFILIATE, OFFICER, PARTNER, SHAREHOLDER OR EMPLOYEE
OF SELLER (A “SELLER RELATED PARTY”) FROM ALL CLAIMS, LOSSES, DAMAGES,
LIABILITIES, COSTS AND EXPENSES WHICH PURCHASER OR ANY PARTY RELATED TO OR
AFFILIATED WITH PURCHASER (A “PURCHASER RELATED PARTY”) HAS OR MAY HAVE
ARISING FROM OR RELATED TO ANY MATTER OR THING RELATED TO THE PHYSICAL
CONDITION OF THE PROPERTY, ANY CONSTRUCTION DEFECTS, ANY ZONING VIOLATIONS OR
IRREGULARITIES, ANY ERRORS OR OMISSIONS IN THE DESIGN OR CONSTRUCTION OF THE
PROPERTY, ANY ENVIRONMENTAL CONDITION AT, IN, ON OR UNDER THE PROPERTY, ANY
PRODUCT LIABILITY CLAIMS OR ANY FINANCIAL INABILITY IN RESPECT OF SELLER, AND
PURCHASER WILL NOT LOOK TO SELLER OR ANY SELLER RELATED PARTY IN CONNECTION WITH
THE FOREGOING FOR ANY REDRESS OR RELIEF, IN EACH CASE EXCEPT TO THE EXTENT
EXPRESSLY SET FORTH HEREIN OR IN THE LEASE. 
THIS RELEASE WILL BE GIVEN FULL FORCE AND EFFECT ACCORDING TO EACH OF
ITS EXPRESS TERMS AND PROVISIONS, INCLUDING THOSE RELATING TO UNKNOWN AND
UNSUSPECTED CLAIMS, DAMAGES AND CAUSES OF ACTION AND STRICT LIABILITY
CLAIMS.  THIS RELEASE INCLUDES CLAIMS OF
WHICH PURCHASER IS PRESENTLY UNAWARE OR

 15
 

 

 

WHICH PURCHASER DOES NOT PRESENTLY SUSPECT TO
EXIST WHICH, IF KNOWN BY PURCHASER, WOULD AFFECT PURCHASER’S RELEASE TO
SELLER.  The foregoing shall not be
deemed to affect any rights of Purchaser, as lessor, or any obligations of
Seller, as lessee, under the Lease.

(c)           Purchaser acknowledges and agrees that the
provisions of this Section were a material factor in inducing Seller to enter
into this Agreement and in determining the Purchase Price for the transaction
contemplated by this Agreement.

(d)           Property Information from Seller’s
Agents.  Prior to the date of this
Agreement, Purchaser has requested from Seller’s agents (e.g., on-site Property
manager, contractors, or similar individuals or entities engaged by Seller
relating to or involving the Property) information regarding the Property or
Seller, or some aspect of the Property, its history, condition or prospects for
future use or development by Purchaser, and Seller has endeavored to supply
such information to the extent it reasonably could do so.  Purchaser has been informed that Seller’s
files may not be complete.  While Seller
has been willing to cooperate with Purchaser in the manner described in the
second immediately preceding sentence, and Seller has instructed Seller’s
Designated Representatives to so cooperate with Purchaser, SELLER IS UNWILLING
TO SELL THE PROPERTY UNLESS SELLER IS RELEASED FROM LIABILITY BY PURCHASER AS
SET FORTH ABOVE, AND IN CONSIDERATION FOR SELLER’S AGREEMENT TO SELL THE
PROPERTY TO PURCHASER ON THE TERMS AND CONDITIONS HEREIN SET FORTH, PURCHASER
AGREES THAT IT SHALL RELEASE SELLER, FOR STATEMENTS OR OPINIONS MADE BY OR
INFORMATION FURNISHED BY SELLER’S AGENTS UNLESS THE STATEMENTS OR OPINIONS MADE
BY OR INFORMATION FURNISHED BY SELLER’S AGENTS ARE INCORPORATED HEREIN AS
SELLER REPRESENTATIONS.

(e)           Purchaser is experienced in and
knowledgeable about the ownership, management, leasing and purchase of
commercial real estate and office properties, and has relied and will rely
exclusively on its own consultants, advisors, counsel, employees, agents,
principals and/or studies, investigations and/or inspections with respect to
the Property, its tax or legal status, condition, value and potential.  Purchaser agrees that, notwithstanding the
fact that it has received certain information from Seller or its agents or
consultants, Purchaser has relied solely upon and will continue to rely solely
upon its own analysis and will not rely on any information provided by Seller
or its agents or consultants, except solely for the representations expressly
made in this Agreement. Except as otherwise expressly set forth herein to the contrary,
Purchaser is purchasing the Property in its physical condition “as is” and in
its present condition.

(f)            In entering into this Agreement,
Purchaser has not been induced by and has not relied upon any representations,
warranties or statements, whether express or implied, made by Seller or any
agent (including Jones Lang LaSalle), employee or other representative of
Seller or by any other person representing or purporting to represent Seller,
which are not expressly set forth in this Agreement or the Lease, whether or
not any such representations, warranties or statements were made in writing or
orally.

(g)           The
terms of this Section shall survive the Closing.

 16
 

 

 

Section 20.             Indemnification.  (a)  Purchaser hereby indemnifies,
defends and holds Seller and its affiliates, subsidiaries, directors, officers,
participants, agents, attorneys, employees, consultants and shareholders
(collectively, the “Seller Parties”) harmless from and against any and
all damages, losses, liabilities, penalties, costs and expenses whatsoever
(including attorneys’ fees and costs) and claims therefor), whether direct or
indirect, known or unknown, foreseen or unforeseen (collectively, “Claims”)
based upon or arising out of: (i) any act, condition, omission, occurrence or
liability at or associated with Purchaser’s investigation or inspection of the
Property; or (ii) any breach by Purchaser of any of its obligations under this
Agreement.

(b)           Seller hereby indemnifies, defends
and holds Purchaser and its affiliates, subsidiaries, directors, officers,
participants, managers, members, agents, attorneys, employees, consultants and
shareholders (collectively, the “Purchaser Parties”) harmless from and
against any and all Claims based upon or arising out of: (i) any personal
injury, death or Property damage occurring at the Property prior to the Closing
except as provided in Section 20(a)(i) or except as a result of
Purchaser’s actions or omissions on or at the Property, (ii) any breach by
Seller of any of its representations and warranties expressly set forth herein
(subject to the limitations elsewhere expressed); and (iii) any breach by
Seller of any of its obligations under this Agreement.

(c)           Notwithstanding anything in this
Agreement to the contrary, (i) Seller will have no obligation to indemnify or
to reimburse the Purchaser pursuant to Section 20(b)(ii) or Section
20(b)(iii) unless and to the extent that the obligations of Seller under Sections
20(b)(ii) and 20(b)(iii) in the aggregate exceed $50,000 (the “Threshold
Amount”), in which event the Seller will be responsible to reimburse the
Purchaser for all losses exceeding the Threshold Amount, and (ii) Seller will
have no obligation to indemnify or to reimburse the Purchaser pursuant to Section
20(b)(ii) or Section 20(b)(iii) to the extent that the obligations
of Seller hereunder exceed in the aggregate $2,000,000.

(d)           The provisions of Section 20(a) and
Section 20(b) shall not affect the rights and obligations of Purchaser and
Seller under the Lease, and in the event of any conflict, the Lease shall
govern.  The indemnification of the
parties under this Section shall survive consummation of the transactions
contemplated by this Agreement.

Section 21.             Omitted.

Section 22.             Omitted.

Section 23.             Brokers or Advisors.  (a)  Seller and Purchaser each
represents and warrants to each other that, except with respect to Jones Lang
LaSalle Americas, Inc. (whose fees shall be paid by Seller pursuant to and in
accordance with a separate agreement), it has not dealt with any broker,
financial advisor or agent with respect to the transactions contemplated by
this Agreement or the Lease who, by reason of such dealing, has a claim against
the other for a commission or fee.

 17
 

 

 

(b)           Seller agrees to indemnify Purchaser
and hold Purchaser harmless against any claims for commissions or fees that may
be asserted in connection with this Agreement or the Lease based upon the acts
or agreements of Seller.

(c)           Purchaser agrees to indemnify Seller
and hold Seller harmless against any claims for commissions or fees that may be
asserted in connection with this Agreement or the Lease based upon the acts or
agreements of Purchaser (except as set forth in subsection (a) of this Section
with respect to Jones Lang LaSalle Americas, Inc.).

(d)           The representations, warranties and
indemnifications of the parties under this Section shall survive the
consummation of the transactions contemplated by this Agreement.

Section 24.             Further Assurances.  Seller and Purchaser agree that they shall,
at the request of the other, make, execute and deliver or obtain and deliver
all such affidavits, deeds, certificates, and other instruments and documents
which either party may reasonably require in order to more fully perfect the
consummation of the transactions contemplated by this Agreement. The agreement
of the parties under this Section shall survive the consummation of the
transactions contemplated by this Agreement.

Section 25.             Binding Effect.  This Agreement shall be binding upon and
enforceable against, and shall inure to the benefit of, the parties hereto and
their respective successors and permitted assigns.

Section 26.             No Third Party
Beneficiaries.  This Agreement does
not create, and shall not be construed as creating, any rights enforceable by
any person not a party to this Agreement.

Section 27.             Confidentiality.  Except as required by law or regulation,
including as required by the rules of the Securities and Exchange Commission,
the parties agree that neither of them shall make public the terms and
conditions of this Agreement (including the identity of the parties) or the
fact that they have entered into this Agreement or any documents, studies or
other materials concerning the Property or delivered by one party to the other
hereunder (all of the foregoing, “Confidential Information”), without in
each case first obtaining written permission from the other party or, with
respect to documents, studies or materials concerning the Property, written
permission from Seller); provided, however, either party may, without the other’s
permission, share Confidential Information (a) which (i) becomes available to
the public other than as a result of a disclosure by such party or its
representatives in breach of this Agreement or the below-referenced
Confidentiality Agreement, or (ii) was or becomes available to the party
seeking to disclose the information on a non-confidential basis from a source
(other than the party who provided such information or, with respect to
documents, studies or materials concerning the Property, Seller) not bound by any
confidentiality obligation or agreement with such party or Seller, as
applicable, (b) with such party’s attorneys, accountants and other professional
advisors and with existing or potential lenders or investors with respect to
the Property (it being agreed that such directors, officers, employees and
representatives shall be informed by the respective party of the terms of this Section
27 and shall agree to be bound by confidentiality and nondisclosure terms
that are similar to the terms hereof), and such party shall be responsible for
any breach of this Agreement by such party’s directors, officers, employees

 18
 

 

 

or representatives.  In the event
that a party (the “subpoenaed party”) is requested or required (by
subpoena or other legal process) to disclose any Confidential Information
provided by the other party (the “interested party”), the subpoenaed party will
give the interested party prompt written notice of such request so that the
interested party may seek an appropriate protective order and/or waive (but
only in a writing signed by the interested party) the subpoenaed party’s
compliance with the provisions of this Section 27.  Without prejudice to the rights and remedies
available hereunder, a party shall be entitled to seek equitable relief by way of
injunction or otherwise upon a breach or threatened breach by the other party
or its representatives of any of the provisions of this Section 27.  The obligations of the parties under this Section
27 will survive the Closing.  This Section
27 shall supersede the Confidentiality Agreement, dated as of December 15,
2005, between Jones Lang LaSalle Americas, Inc. and CRIC Capital, LLC, which
shall be of no further force and effect.

Assignment.  Except as provided below in this Section,
this Agreement cannot be assigned by Purchaser, nor may the direct or indirect
interests in Purchaser be conveyed, voluntarily or involuntarily, by agreement
or operation of law, in whole or in part without the prior written consent of
Seller, which consent may be withheld by Seller for any reason whatsoever, and
any assignment or transfer in violation of this Section 28 shall be null
and void and constitute a material default on the part of Purchaser under this
Agreement.  Notwithstanding the
foregoing, Purchaser may collaterally assign all of its rights under this
Agreement for any breach of warranty or
other similar claim so long as following such assignment the assignee may
pursue any such claim only subsequent to a foreclosure or other transfer of the
Property to assignee.

Section 28.             Notices.  Any notice, request, demand, and other
communications under this Agreement shall be in writing, and shall be deemed
duly given or made at the time and on the date when personally delivered (which
shall include delivery by overnight delivery service) or delivered by facsimile
transmission or if not received earlier three (3) Business Days after being
mailed by prepaid registered or certified mail, return receipt requested, to
the address for each party set forth below. Any party, by written notice to the
others in the manner herein provided, may designate an address different from
that set forth below.

To Seller:

 

CA, Inc.

One CA Plaza

Islandia, New York
11749

Attention: Lease
Administration

Fax: (631) 342-6872

 

with a copy to:

 

CA, Inc.

One CA Plaza

Islandia, New York
11749

Attention: Legal –
Real Estate Notice

Fax: (631) 342-4866

 

 19
 

 

 

To Purchaser:

 

Island
Headquarters Operators LLC

c/o CRIC Asset Management LLC, as Asset Manager

One Exeter Plaza

Boston, MA 02116

Fax: (617) 303-4440

 

And

 

Islandia Operators
LLC

c/o CRIC Asset Management LLC, as Asset Manager

One Exeter Plaza

Boston, MA 02116

Fax: (617) 303-4440

 

with a copy to:

 

Liechty &
McGinnis, P.C.

7502 Greenville Avenue, Suite 750

Dallas, Texas  75231

Attention:  Lorne O. Leichty, Esq.

 

Section 29.             Time of the Essence.  TIME IS OF THE ESSENCE OF THIS AGREEMENT WITH
RESPECT TO EACH OF THE DATES SET FORTH HEREIN.

Section 30.             Severability.  If any term, covenant, condition or provision
of this Agreement, or the application thereof to any person or circumstance,
shall ever be held to be invalid or unenforceable, then in each such event the
remainder of this Agreement or the application of such term, covenant,
condition or provision to any other person or any other circumstance (other
than those as to which it shall be invalid or unenforceable) shall not be
thereby affected, and each term, covenant, condition and provision hereof shall
remain valid and enforceable to the fullest extent permitted by law.

Section 31.             No Waiver.  Failure by any party to complain of any
action, non-action or default of any other party shall not constitute a waiver
of any aggrieved party’s rights hereunder, provided,
however, the delivery by Seller
and the acceptance by Purchaser of the Deed shall be deemed to be the full
performance and discharge of every obligation on the part of Seller and
Purchaser to be performed hereunder on or before the Closing Date, but shall
not affect any of the obligations of the parties that are expressly stated to
survive the Closing.  Waiver by any party
of any right for any default of any other party shall not constitute a waiver
of any right for either a subsequent default of the same obligation or for any
other default, past, present or future.

Section 32.             Applicable Law.  This Agreement shall be governed by,
construed under and interpreted and enforced in accordance with the laws of the
State.

 20
 

 

 

Section 33.             Entire Agreement.  This Agreement supersedes all prior
discussions and agreements between Seller and Purchaser with respect to the
matter contained herein, and this Agreement, together with the Exhibits and
Schedules, contains the sole and entire understanding between Seller and
Purchaser with respect thereto.

Section 34.             Modifications.  This Agreement may not be modified or amended
except by an instrument in writing executed by or on behalf of Seller and
Purchaser.

Section 35.             Consequential, Exemplary
or Punitive Damages.  In no event
will Seller or Purchaser be liable for any consequential, exemplary or punitive
damages under any circumstances in connection with this Agreement or the
transaction contemplated hereby.

Section 36.             Attorneys’ Fees.  If any action or proceeding is commenced by
either party to enforce their rights under this Agreement or to collect damages
as a result of the breach of any of the provisions of this Agreement, the
prevailing party in such action or proceeding, including any bankruptcy,
insolvency or appellate proceedings, shall be entitled to recover all
reasonable costs and expenses, including, without limitation, reasonable
attorneys’ fees and court costs, in addition to any other relief awarded by the
court.

Section 37.             Counterparts.  This Agreement may be executed in several
counterparts, each of which shall be deemed an original, and all of such
counterparts together shall constitute one and the same instrument.

Section 38.             Joint and Several.  The obligations and liabilities of Purchaser
under this Agreement, which includes both Island and Islandia, are joint and
several.

Section 39.             No Obligation to Obtain
Loan.  Any references in this
Agreement to Purchaser’s lender, to a loan to be obtained by Purchaser or
to any similar matters, shall not be deemed to obligate Purchaser to
obtain any such loan to purchase the Property.

Section 40.             1031 Exchange.  Seller will, at the request of
Purchaser, cooperate with Purchaser as may be necessary or
appropriate to structure its acquisition of the Property as a
like-kind exchange under Section 1031 of the Internal Revenue
Code, including without limitation acknowledging and consenting to the
assignment by Purchaser of the rights under this Agreement to a qualified
intermediary; provided that Seller shall not be required to accept title to any
real property in order to effect such exchange and shall not be required to
incur any expense or liability in performing its obligations under this Section
41; and further provided that the assigning Purchaser shall not be relieved
of any of its obligations under this Agreement from and after such assignment.

Section 41.             Estate for Years and
Remainderman.

(a)           Islandia hereby irrevocably directs
Seller to pay all amounts payable to Purchaser hereunder to Island. If any
dispute or uncertainty arises as to whether Island or Islandia is entitled to
any sum payable by Seller hereunder, Seller will be fully protected upon
payment thereof jointly to or for the account of Island and Islandia, or to a
court of competent jurisdiction, until a final order of a court having
jurisdiction of all of the parties orders otherwise.

 21
 

 

 

(b)           Island and Islandia each affirms and
agrees that it is subject to all of the covenants and restrictions imposed on
Purchaser, and is making each of the representations and warranties, under this
Agreement as fully and completely as if each such party were the sole
Purchaser.

(c)           Each of Island and Islandia agrees
that for any and all purposes under this Agreement, whenever Purchaser’s
consent, approval or action is required or permitted under this Agreement, such
consent, approval or action shall and may be granted, denied or taken only
Island.  Such consent, approval or action
shall be deemed to have been given or taken on behalf of both Island and
Islandia as fully and completely as if both joined in such consent, approval or
action.  Islandia grants to Island the
sole and absolute authority to grant or withhold any such consent, approval or
action and to take any such action on behalf of both Island and Islandia, and
further hereby grants to Island an irrevocable power of attorney, coupled with
an interest, to do or cause to be done all consent, approvals, actions or other
manner of things required under this Agreement to be done or performed by
Purchaser.

 22

 

 

IN WITNESS WHEREOF,
Purchaser and Seller have executed and delivered this Purchase and Sale
Agreement as of the day and year first above written.

	
  

  	
  SELLER:

  
	
   

  	
   

  
	
   

  	
  CA, INC., a Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Bryan
  Urquhart

  	
   

  
	
   

  	
   

  	
  Bryan Urquhart

  	
   

  
	
   

  	
   

  	
  SVP- Finance and
  Administration

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  

  	
  PURCHASER:

  
	
   

  	
   

  
	
   

  	
  ISLANDIA OPERATORS LLC, a Delaware

  limited liability company

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Francesco
  Piovanetti

  	
   

  
	
   

  	
   

  	
  Francesco
  Piovanetti 

  	
   

  
	
   

  	
   

  	
  Vice President 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  

  	
  ISLAND HEADQUARTERS OPERATORS

  LLC, a Delaware limited liability company

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Francesco
  Piovanetti

  	
   

  
	
   

  	
   

  	
  Francesco
  Piovanetti 

  	
   

  
	
   

  	
   

  	
  Vice President 

  	
   

  

 

 

Exhibit
A

Description of Land

[As executed, the legal description in
metes and bounds, but for purposes of this filing, the land commonly known as
One CA Plaza, Islandia, NY 11749.]Exhibit
10.2

 

LEASE AGREEMENT

Dated as of August 15,
2006

Between

ISLAND HEADQUARTERS
OPERATORS LLC,

as Owner of the Estate for Years,

and

ISLANDIA OPERATORS LLC,

as Remainderman,

Collectively, as Lessor,

and

CA, INC., as
Lessee

 

 

One CA Plaza

Islandia, New York 11749

 

 

List of Attachments

 

	
  Appendix A

  	
   

  	
  Definitions, Rider of Construction

  
	
  Schedules

  	
   

  	
   

  
	
  3.1

  	
   

  	
  Base Net Rent for the Initial Term

  
	
  3.3

  	
   

  	
  Rent Control Direction Letter

  
	
  5.3-A

  	
   

  	
  Base Net Rent for the First Renewal Term assuming
  renewal subsequent to 10th anniversary of
  the Effective Date

  
	
  5.3-B

  	
   

  	
  Base Net Rent for the First Renewal Term assuming
  renewal on or prior to 10th anniversary of
  the Effective Date

  
	
  9.5(d)

  	
   

  	
  Description of Alterations permitted without
  compliance with Section 9.5(b)

  
	
  23.2

  	
   

  	
  Special-Purpose Covenants

  
	
  25.11(b)

  	
   

  	
  Former LIPA Area, Current LIPA Area and Pump Station
  Area

  
	
   

  	
   

  	
   

  
	
  Exhibit

  	
   

  	
   

  
	
  A

  	
   

  	
  Legal Description of the Land

  
	
  B

  	
   

  	
  Site Map Showing Central Tower, Atrium Building and
  Annex

  
	
  C

  	
   

  	
  Form of Sublease Subordination, Nondisturbance and
  Attornment Agreement

  
	
  D

  	
   

  	
  Form of Mortgagee Subordination, Nondisturbance and
  Attornment Agreement

  
	
  E

  	
   

  	
  Road Abandonment Plan

  

 

 -ii-
 

 

 

Table
of Contents

	
  

  	
  Page

  
	
   

  	
   

  
	
  ARTICLE I. DEFINITIONS

  	
  1

  
	
   

  	
   

  
	
  ARTICLE II. LEASE OF PROPERTY

  	
  1

  
	
  SECTION 2.1.

  	
  Demise and Lease

  	
  1

  
	
  SECTION 2.2.

  	
  True Lease

  	
  1

  
	
   

  	
   

  
	
  ARTICLE III. RENT

  	
  1

  
	
  SECTION 3.1.

  	
  Base Net Rent.

  	
  1

  
	
  SECTION 3.2.

  	
  Supplemental
  Rent

  	
  2

  
	
  SECTION 3.3.

  	
  Method of
  Payment

  	
  2

  
	
  SECTION 3.4.

  	
  Late Payment

  	
  2

  
	
  SECTION 3.5.

  	
  Net Lease; No
  Setoff

  	
  2

  
	
   

  	
   

  
	
  ARTICLE IV. LESSEE’S ACCEPTANCE OF PROPERTY

  	
  3

  
	
   

  	
   

  
	
  ARTICLE V. RENEWAL OPTIONS

  	
  3

  
	
  SECTION 5.1.

  	
  Grant of Options

  	
  3

  
	
  SECTION 5.2.

  	
  Manner of
  Exercise

  	
  3

  
	
  SECTION 5.3.

  	
  Rent during
  Renewal Terms.

  	
  4

  
	
  SECTION 5.4.

  	
  Determination of
  Fair Market Rental Value

  	
  4

  
	
  SECTION 5.5.

  	
  Lease Provisions
  Applicable During Renewal

  	
  5

  
	
   

  	
   

  
	
  ARTICLE VI. INTENTIONALLY OMITTED

  	
  5

  
	
   

  	
   

  
	
  ARTICLE VII. PERMITTED USE; COMPLIANCE; NAMING

  	
  5

  
	
  SECTION 7.1.

  	
  Use

  	
  5

  
	
  SECTION 7.2.

  	
  Compliance with
  Applicable Laws and Restrictions

  	
  6

  
	
  SECTION 7.3.

  	
  Permits,
  Licenses

  	
  6

  
	
  SECTION 7.4.

  	
  Naming of the
  Property

  	
  6

  
	
   

  	
   

  
	
  ARTICLE VIII. CURE OF LESSEE LIENS

  	
  6

  
	
  SECTION 8.1.

  	
  No Lessee Liens

  	
  6

  
	
  SECTION 8.2.

  	
  No Leasehold
  Mortgages

  	
  6

  
	
  SECTION 8.3.

  	
  Notice re: Work
  Giving Rise to Liens

  	
  7

  
	
   

  	
   

  
	
  ARTICLE IX. MAINTENANCE AND REPAIRS; ALTERATIONS

  	
  7

  
	
  SECTION 9.1.

  	
  Maintenance and
  Repair

  	
  7

  
	
  SECTION 9.2.

  	
  Replacement of
  Components

  	
  7

  
	
  SECTION 9.3.

  	
  Lessee’s Right
  to Enforce Warranties

  	
  8

  
	
  SECTION 9.4.

  	
  Lessor not
  Responsible for Repairs

  	
  8

  
	
  SECTION 9.5.

  	
  Alterations.

  	
  8

  
	
  SECTION 9.6.

  	
  Title to
  Alterations

  	
  10

  
	
  SECTION 9.7.

  	
  No Lessor Rights
  to Lessee’s Personalty

  	
  10

  
					

 

 -iii-
 

 

 

	
  ARTICLE X. PERMITTED CONTESTS; EXCUSABLE DELAY

  	
  11

  
	
  SECTION 10.1.

  	
  Contest Right

  	
  11

  
	
  SECTION 10.2.

  	
  Lessor’s
  Cooperation

  	
  11

  
	
  SECTION 10.3.

  	
  Effect of
  Contest on Lessee’s Obligations Generally

  	
  11

  
	
  SECTION 10.4.

  	
  Force Majeure

  	
  11

  
	
   

  	
   

  
	
  ARTICLE XI. ENVIRONMENTAL COMPLIANCE

  	
  12

  
	
  SECTION 11.1.

  	
  Lessee’s
  Obligation Generally

  	
  12

  
	
  SECTION 11.2.

  	
  Lessee’s
  Obligation with respect to Remedial Work

  	
  12

  
	
  SECTION 11.3.

  	
  Lessee’s
  Obligation with respect to Third Parties

  	
  13

  
	
  SECTION 11.4.

  	
  Indemnity for
  Environmental Matters

  	
  13

  
	
  SECTION 11.5.

  	
  Lessee to Notify
  Lessor of Environmental Events

  	
  13

  
	
  SECTION 11.6.

  	
  Lessee Right to
  Control Remediation

  	
  13

  
	
   

  	
   

  
	
  ARTICLE XII. INSURANCE

  	
  14

  
	
  SECTION 12.1

  	
   

  	
  14

  
	
  SECTION 12.2.

  	
  Policies.

  	
  17

  
	
   

  	
   

  
	
  ARTICLE XIII. RETURN OF LEASED PROPERTY TO LESSOR

  	
  18

  
	
   

  	
   

  
	
  ARTICLE XIV. CASUALTY; CONDEMNATION

  	
  19

  
	
  SECTION 14.1.

  	
  Notice

  	
  19

  
	
  SECTION 14.2.

  	
  Casualty or
  Condemnation not Constituting an Event of Loss

  	
  19

  
	
  SECTION 14.3.

  	
  Event of Loss

  	
  19

  
	
  SECTION 14.4.

  	
  Collection,
  Disbursement and Application of Proceeds for so long as Lease Continues.

  	
  20

  
	
  SECTION 14.5.

  	
  Rent Obligation
  When Lease Continues

  	
  22

  
	
  SECTION 14.6.

  	
  Negotiations

  	
  22

  
	
  SECTION 14.7.

  	
  Lessee’s Right
  to Claim Relocation Expenses, etc

  	
  22

  
	
  SECTION 14.8.

  	
  Express
  Provisions to the Contrary

  	
  23

  
	
   

  	
   

  
	
  ARTICLE XV. ASSIGNMENT

  	
  23

  
	
   

  	
   

  
	
  ARTICLE XVI. SUBLEASE

  	
  23

  
	
  SECTION 16.1.

  	
  Subleasing
  Permitted; Lessee Remains Obligated

  	
  23

  
	
  SECTION 16.2.

  	
  Provisions of
  Subleases

  	
  24

  
	
  SECTION 16.3.

  	
  Sublessee
  Nondisturbance Agreements

  	
  24

  
	
  SECTION 16.4.

  	
  Lessee
  Reimbursement of Expenses

  	
  25

  
	
   

  	
   

  
	
  ARTICLE XVII. BROKERS

  	
  25

  
	
   

  	
   

  
	
  ARTICLE XVIII. LESSOR’S INSPECTION AND SHOWING THE
  PROPERTY

  	
  25

  
	
  SECTION 18.1. 

  	
  Generally

  	
  25

  
	
  SECTION 18.2. 

  	
  No Duty to
  Inspect

  	
  26

  
	
  SECTION 18.3. 

  	
  Showing

  	
  26

  
	
   

  	
   

  
	
  ARTICLE XIX. DEFAULTS; REMEDIES

  	
  26

  
				

 

 -iv-
 

 

 

	
  SECTION 19.1. 

  	
  Event of Default

  	
  26

  
	
  SECTION 19.2. 

  	
  Remedies

  	
  27

  
	
  SECTION 19.3. 

  	
  Survival of
  Lessee’s Obligations

  	
  28

  
	
  SECTION 19.4. 

  	
  Right of Lessor
  to Perform for Lessee.

  	
  29

  
	
  SECTION 19.5. 

  	
  Right of Lessee
  to Perform for Lessor

  	
  30

  
	
  SECTION 19.6. 

  	
  Lessor
  Reasonableness Resolved by Arbitration

  	
  30

  
	
  SECTION 19.7. 

  	
  No Punitive,
  Consequential or Indirect Damages

  	
  30

  
	
  SECTION 19.8. 

  	
  Remedies
  Cumulative; No Waiver; Consents

  	
  30

  
	
  SECTION 19.9. 

  	
  Attorneys’ Fees

  	
  31

  
	
  SECTION 19.10. 

  	
  Lessor Right to
  Request Escrows During Continuance of Event of Default

  	
  31

  
	
   

  	
   

  
	
  ARTICLE XX. INDEMNITIES

  	
  31

  
	
  SECTION 20.1.

  	
  General
  Indemnification.

  	
  31

  
	
  SECTION 20.2.

  	
  Taxes.

  	
  34

  
	
   

  	
   

  
	
  ARTICLE XXI. MERGER OF LESSEE

  	
  36

  
	
   

  	
   

  
	
  ARTICLE XXII. LESSEE FINANCIAL INFORMATION

  	
  36

  
	
   

  	
   

  
	
  ARTICLE XXIII. LESSOR’S COVENANTS AND AGREEMENTS

  	
  37

  
	
  SECTION 23.1.

  	
  Discharge of
  Lessor Liens

  	
  37

  
	
  SECTION 23.2.

  	
  Special-Purpose
  Provisions

  	
  37

  
	
  SECTION 23.3.

  	
  Restrictions on
  Transfer of Lessor’s Interests.

  	
  37

  
	
  SECTION 23.4.

  	
  First Offer in
  favor of Lessee.

  	
  41

  
	
  SECTION 23.5.

  	
  Quiet Enjoyment

  	
  44

  
	
  SECTION 23.6.

  	
  Copies of
  Notices

  	
  44

  
	
   

  	
   

  
	
  ARTICLE XXIV. LESSOR’S FINANCING; SUBORDINATION

  	
  45

  
	
  SECTION 24.1.

  	
  Lessor’s
  Mortgages and Lessee’s Nondisturbance.

  	
  45

  
	
  SECTION 24.2.

  	
  Attornment

  	
  46

  
	
   

  	
   

  
	
  ARTICLE XXV. MISCELLANEOUS

  	
  46

  
	
  SECTION 25.1. 

  	
  Binding Effect;
  Successors and Assigns

  	
  46

  
	
  SECTION 25.2. 

  	
  Notices

  	
  47

  
	
  SECTION 25.3. 

  	
  Severability

  	
  48

  
	
  SECTION 25.4. 

  	
  Amendment;
  Complete Agreements

  	
  48

  
	
  SECTION 25.5. 

  	
  Business Day

  	
  48

  
	
  SECTION 25.6. 

  	
  Headings

  	
  48

  
	
  SECTION 25.7. 

  	
  Counterparts

  	
  48

  
	
  SECTION 25.8. 

  	
  Governing Law

  	
  48

  
	
  SECTION 25.9. 

  	
  Apportionments

  	
  48

  
	
  SECTION 25.10. 

  	
  Estoppel
  Certificates

  	
  48

  
	
  SECTION 25.11. 

  	
  Granting of
  Easements.

  	
  49

  
	
  SECTION 25.12. 

  	
  No Joint Venture

  	
  52

  
	
  SECTION 25.13. 

  	
  No Merger

  	
  52

  
	
  SECTION 25.14. 

  	
  Lessor
  Bankruptcy

  	
  52

  
					

 

 -v-
 

 

 

	
  SECTION 25.15. Expenses;
  Reimbursements and Requirements for Requesting Same

  	
  52

  
	
  SECTION 25.16.
  Further Assurances

  	
  53

  
	
  SECTION 25.17.
  Holdover

  	
  53

  
	
  SECTION 25.18.
  Non-recourse

  	
  53

  
	
  SECTION 25.19.
  Survival

  	
  53

  
	
  SECTION 25.20.
  Waiver of Jury Trial

  	
  53

  

 

 -vi-

 

LEASE AGREEMENT (this “Lease”), dated as of
August 15, 2006, between ISLAND HEADQUARTERS OPERATORS LLC, a Delaware limited
liability company, as the Owner of the Estate for Years, and ISLANDIA OPERATORS
LLC, a Delaware limited liability company, as Remainderman, collectively, as
lessor, and CA, INC., a Delaware corporation, as lessee.

In consideration of the mutual agreements herein
contained and other good and valuable consideration, the receipt of which is
hereby acknowledged, the parties hereto, intending to be legally bound, hereby
agree as follows:

ARTICLE I.

DEFINITIONS

Capitalized terms used and not otherwise defined
herein shall have the meanings assigned thereto in Appendix A hereto for all
purposes hereof.  In addition, Appendix A
sets forth certain rules of construction that shall be applicable to this
Lease.

ARTICLE II.

LEASE OF PROPERTY

SECTION 2.1.  Demise and Lease.  Lessor does hereby demise and lease the
Property to Lessee, and Lessee does hereby rent and lease the Property from
Lessor, in each case, subject to Permitted Liens (other than Lessor Liens), for
the Term.

SECTION
2.2.  True Lease.  This Lease is intended as, and shall
constitute, an agreement of lease (and does not represent a financing or other
arrangement).  Nothing herein shall be
construed as conveying to  Lessee any
right, title or interest in or to the Property nor to any remainder or
reversionary estates in the Property held by any Person, except, in each
instance, as a lessee with such other rights and privileges as are expressly
set forth herein.  Each party will agree
that it will treat this Lease as a lease for all tax, accounting, insolvency
and other purposes and will report, and account for, this Lease accordingly.

ARTICLE III.

RENT

SECTION
3.1.  Base Net Rent.

(a)           During the Initial Term, Lessee shall
pay to Lessor an annual Base Net Rent in the amounts shown in Schedule 3.1.

(b)           During any Renewal Term, Lessee shall
pay to Lessor an annual Base Net Rent determined in accordance with Article V.

(c)           Annual Base Net Rent shall be due and
payable in advance on the first day of each calendar month (a “Rent Payment
Date”) in equal monthly installments.

 

 

Lessor acknowledges that it has received Base Net Rent
paid through September, 2006.

SECTION
3.2.  Supplemental Rent.  Lessee shall pay to Lessor, or to such other
Person as shall be entitled thereto in the manner contemplated herein,
Supplemental Rent as the same shall become due and payable. Lessee’s failure to
pay Supplemental Rent owed to Lessor shall entitle Lessor to the rights, powers
and remedies provided for herein or by law or in equity in the case of
nonpayment of Base Net Rent.

SECTION
3.3.  Method of Payment.  Base Net Rent, and Supplemental Rent payable
to Lessor, shall be paid (a) in accordance with the rent payment direction
letter from Lessor to Lessee attached hereto as Schedule 3.3, which is
hereby incorporated by reference, or (b) if at any time no designee shall have
been designated in accordance with such rent payment direction letter,
then  to Lessor or its designee at Lessor’s
address set forth in Section 25.2 hereof or at such place in the contiguous
continental United States as Lessor shall specify in writing to Lessee at least
thirty (30) days prior to the due date therefor. Each such payment of Rent described
above in this Section 3.3 shall be made by Lessee by check or wire
transfer in immediately available funds consisting of lawful currency of the
United States of America.

SECTION
3.4.  Late Payment.  If any payment of Base Net Rent, or any
Supplemental Rent payable to Lessor, shall not be paid on or before the fifth
(5th)
Business Day after the due date thereof, Lessee shall pay interest thereon at
an annual rate equal to the Citibank, N.A. “base rate” plus 1 percent (such
annual rate, or such lesser rate (if any) representing the highest rate
permitted by Applicable Laws and Restrictions, the “Stipulated Rate”)
from and including such fifth (5th)
Business Day until and excluding the date the same is paid, provided that if Lessee shall have failed
more than twice in the immediately preceding twelve-month period to pay Base
Net Rent, or any Supplemental Rent payable to Lessor, on or before the fifth (5th) Business Day after the due
date thereof, then Lessee shall pay interest thereon at the Stipulated Rate
from the date the same was due until the date the same is paid.

SECTION
3.5.  Net Lease; No Setoff.  Except as otherwise expressly specified in
Section 14.3, Section 14.5, Section 20.1(a) and Section 20.2(c), Base Net Rent
shall be paid without notice, demand, counterclaim, setoff, deduction or
defense and Tenant waives all rights to cancel, terminate or suspend this
Lease, or to any abatement, deferment, diminution reduction of or set off
against Base Net Rent, Supplemental Rent or other sums payable hereunder.
Except as otherwise specified in Section 14.3, Section 14.5, Section 20.1(a)
and Section 20.2(c), Lessee’s obligations shall not be discharged or otherwise
affected for any reason, including:  (a)
any defect in the Property or the failure of the Property to comply with
Applicable Laws and Restrictions, including any inability to occupy or use the
Property by reason of such noncompliance; (b) any damage to or taking of the
Property; (c) any restriction, prevention or curtailment of or interference
with any use of the Property or any part thereof including eviction; (d) any
defect in title to the Property or any lien on such title or rights or on the
Property; or (e) any invalidity or unenforceability of this Lease against or by
Lessee or any provision hereof.

 2
 

 

 

ARTICLE IV.

LESSEE’S ACCEPTANCE OF PROPERTY

The Property is demised and let by Lessor “AS IS” in
its present condition.  Lessee has
examined the Property and has found the same to be satisfactory.  LESSOR HAS NOT MADE AND SHALL NOT BE DEEMED TO
HAVE MADE ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, OR SHALL BE
DEEMED TO HAVE ANY LIABILITY WHATSOEVER AS TO THE VALUE, HABITABILITY,
COMPLIANCE AS OF THE EFFECTIVE DATE (OR ANY TIME THEREAFTER) WITH THE PLANS AND
SPECIFICATIONS FOR THE PROPERTY, CONDITION, LOCATION, USE, DESCRIPTION,
MERCHANTABILITY, DESIGN, OPERATION, OR FITNESS FOR USE OF THE PROPERTY (OR ANY
PART THEREOF), OR ANY OTHER REPRESENTATION OR WARRANTY WHATSOEVER, EXPRESS OR
IMPLIED, WITH RESPECT TO THE PROPERTY (OR ANY PART THEREOF), AND LESSOR SHALL
NOT BE LIABLE FOR ANY LATENT, HIDDEN OR PATENT DEFECT THEREIN OR THE FAILURE OF
THE PROPERTY TO COMPLY WITH APPLICABLE LAWS AS OF THE EFFECTIVE DATE OR AT ANY
TIME THEREAFTER DURING THE TERM.  It is
agreed that Lessee has been afforded full opportunity to inspect the Property,
is satisfied with the results of its inspections of the Property and is
entering into this Lease solely on the basis of the results of its own
inspections and all risks incident to the matters discussed in the preceding
sentence.  The provisions of this Article
IV have been negotiated, and the foregoing provisions are intended to be a
complete exclusion and negation of any representations or warranties by Lessor,
express or implied, with respect to the Property, that may arise pursuant to
any law now or hereafter in effect, or otherwise.

ARTICLE
V.

RENEWAL OPTIONS

SECTION 5.1.  Grant of Options.  Lessor hereby grants to Lessee the options to
renew this Lease for the following periods (each, a “Renewal Term”):

(a)           commencing with the
expiration of the Initial Term, a period of ten (10) years (the “First
Renewal Term”), expiring at 11:59 p.m. on the tenth (10th) anniversary of
the expiration of the Initial Term;

(b)           commencing with the
expiration of the First Renewal Term, a period of five (5) years (the “Second
Renewal Term”), expiring at 11:59 p.m. on the fifth (5th) anniversary of
the expiration of the First Renewal Term

(c)           commencing with the
expiration of the Second Renewal Term, a period of five (5) years (the “Third
Renewal Term”), expiring at 11:59 p.m. on the fifth (5th) anniversary of
the expiration of the Second Renewal Term.

SECTION 5.2.  Manner of
Exercise.  Lessee’s exercise of its
option to renew this Lease for any Renewal Term shall require that Lessee give
Lessor written notice of such exercise at least five hundred and forty five
(545) days prior to the expiration of the 

 3
 

 

 

Initial Term and three hundred and sixty five days (365) days prior to
the expiration of the then current Renewal Term, as the case may be (subject,
however, with respect to the Second Renewal Term and the Third Renewal Term, to
Section 5.4(b)).  The final applicable
date on which each Renewal Term option may be exercised hereunder is referred
to as the “Renewal Option Exercise Cut-Off Date”.  It is a condition to Lessee’s exercise of its
option to renew that no Event of Default exists on the date Lessee gives notice
of its exercise of such option.

SECTION 5.3.  Rent during
Renewal Terms.

(a)           The annual Base Net
Rent payable during the First Renewal Term shall be as set forth in Schedule
5.3-A, provided that if Lessee shall have
exercised its option to renew this Lease for the First Renewal Term prior to
the tenth (10th)
anniversary of the Effective Date, then the annual Base Net Rent payable during
the First Renewal Term shall instead be reduced to the amounts set forth in
Schedule 5.3-B.

(b)           The annual Base Net
Rent payable during each of the Second Renewal Term and Third Renewal Term
shall be ninety five percent (95%) of the annual Fair Market Rental Value of
the Property, determined as of the commencement of each Renewal Term during
such period.

SECTION 5.4.  Determination of
Fair Market Rental Value.  For purposes
of Section 5.3(b):

(a)           “Fair Market
Rental Value” for the Second Renewal Term and the Third Renewal Term shall
mean the annual rent that would be obtained in an arm’s length transaction
between an informed and willing lessee and an informed and willing lessor, in
each case under no compulsion to lease, for the lease of the Property on the
terms provided for in this Article V, taking into account the type, quality,
age and location of the Property, with reference to leases in similar quality
buildings in the Suffolk County, Long Island office market entered into
contemporaneously with the commencement of the Renewal Term in question, and
shall:

(i)            be adjusted to reflect the extent to
which Lessor, in connection with such Renewal Term, will not be responsible for
the payment of then customary landlord concessions and allowances (such as
tenant allowances or work letters) and/or leasing brokerage commissions,

(ii)           take into account all the terms and
conditions of this Lease, including that Lessee is obligated hereunder to make
all necessary capital repairs and replacements,

(iii)          assume that prior to such Renewal
Term, Lessee shall have performed in all material respects its Property
maintenance and repair obligations under this Lease,

 4
 

 

 

(iv)          exclude any rental value attributable
to any Alterations (including capital improvements and additions) made by or on
behalf of Lessee at any point during the Term and not required to be made under
this Lease, and

(v)           represent the sum of the fair market
rental values determined separately for each of the Main Buildings.

(b)           Lessor and Lessee
shall commence the process of determining Fair Market Rental Value within
fifteen (15) days after the request therefor made by Lessee (a “Renewal Term
Rent Determination Request”).  If
Lessee shall have made such request on or prior to the one hundred and
twentieth (120th) day prior to the applicable Renewal Option Exercise Cut-Off
Date, and the Fair Market Rental Value shall have not been agreed upon by
Lessor and Lessee, or determined by the Appraisal Procedure, in either case
prior to the thirtieth (30th) day preceding the Renewal Option Exercise Cut-Off
Date, then the Renewal Option Exercise Cut-Off Date shall be postponed one day
for each day after such thirtieth (30th) day until the Fair Market Rental Value
shall be determined, with all of the provisions of this Lease remaining in
effect during such period.

(c)           If Lessor and Lessee
cannot agree on Fair Market Rental Value on or before the ninetieth (90th) day after a Renewal Term
Rent Determination Request, such Fair Market Rental Value shall be determined
by the Appraisal Procedure.

SECTION 5.5.  Lease Provisions
Applicable During Renewal.  All the
provisions of this Lease shall be applicable during each Renewal Term, except
that Base Net Rent shall be determined as provided in Section 5.3(a) and (b).

ARTICLE
VI.

INTENTIONALLY OMITTED

ARTICLE
VII.

PERMITTED USE; COMPLIANCE; NAMING

SECTION 7.1.  Use.  The Property may be used for any use to which
the Property is currently being used and any other use, provided Lessee shall
not use or permit the use of the Property or any part thereof for any purpose
or in any manner that would materially violate any Applicable Laws and
Restrictions or clause (e) of the definition of Permitted Liens (subject to
Lessee’s contest rights under Section 10.1). 
Without limiting the foregoing, Lessee shall have the right to continue
or discontinue the current uses at the Property, including a child-care
facility, fitness center or any other amenity at the Property and, if it elects
to discontinue any or all of the same, may convert such space to office or any
other use not prohibited under the above terms of this Section 7.1, provided, however,
Lessee shall not discontinue its use of the Property or a portion thereof as
offices if the lawful use of the Property as offices relies at such time on
so-called “grandfathering” under Applicable Laws and Restrictions and such
discontinuance would result in the resumption of office use being
unlawful.  In addition, provided no Event
of

 5
 

 

 

Default then
exists, Lessee may convert the use of any office space to any other use not
prohibited under the above terms of this Section 7.1. During the Term, Lessee
shall have exclusive possession and use of the Property, including the
Buildings and other Improvements and all land included within the Property.

SECTION 7.2.  Compliance with
Applicable Laws and Restrictions. 
During the Term, at Lessee’s expense, Lessee shall comply and cause the
Property to comply in all material respects with all Applicable Laws and
Restrictions, and shall perform in all material respects all obligations of the
owner of the Property under all Applicable Laws and Restrictions to the extent
the same are applicable to the use, occupancy or operation of the Property,
whether or not such Applicable Laws and Restrictions shall necessitate
structural changes and/or improvements and/or interfere with the use and
enjoyment of the Property.

SECTION 7.3.  Permits,
Licenses.  Lessee, at its expense,
shall procure and maintain all permits, licenses, approvals, certificates and
other authorizations necessary from time to time for the operation of its
business at the Property and the use, occupancy and operation of the
Property.  Lessor shall cooperate, as
Lessee’s expense, with Lessee in its procurement and maintenance of the
foregoing, including where necessary or appropriate, executing and delivering
applications for the same.

SECTION 7.4.  Naming of the
Property.  Lessee shall have the sole
and exclusive right, at any time and from time to time, to select the name or
names of the Property, the Buildings and the Improvements, and the sole and
exclusive right to determine not to use any name in connection with one or more
portions of the Property, as well as all rights in respect of signage for or in
connection with the Property.  Lessor shall
not have or acquire any right or interest with respect to any such name or
names used at any time by Lessee.

ARTICLE
VIII.

CURE OF LESSEE LIENS

SECTION 8.1.  No Lessee Liens.  Lessee shall not directly or indirectly
create, incur, assume or suffer to exist any Lien on or with respect to the
Property, the Rent, the title thereto or any interest therein, which arises for
any reason, including Liens arising out of the possession, use, occupancy,
construction, repair or rebuilding of the Property or by reason of labor or
materials furnished or claimed to have been furnished with respect to the
Property, except in each case for Permitted Liens.  Lessee, at its own expense, shall take such
action as may be necessary duly to discharge or eliminate or bond any such Lien
(other than Permitted Liens) within thirty (30) days after Lessee has actual
knowledge of such Lien.

SECTION 8.2.  No Leasehold
Mortgages.  Without limiting the
generality of Section 8.1, neither this Lease nor Lessee’s interest herein
shall be mortgaged or pledged by Lessee. 
Any such mortgage or pledge shall be void.

 6
 

 

 

SECTION 8.3.  Notice re: Work
Giving Rise to Liens.  Notice is
hereby given that, to the extent permitted by law, (a) Lessor will not be
liable for any labor, services or materials furnished or to be furnished to
Lessee, or to anyone holding an interest in the Property or any part thereof
through or under Lessee, and (b) no mechanics or other Liens for any such
labor, services or materials shall attach to or affect the interest of Lessor
in and to the Property.

ARTICLE
IX.

MAINTENANCE AND REPAIRS; ALTERATIONS

SECTION 9.1.  Maintenance and
Repair.  Lessee, at its own cost and
expense, shall at all times, (i) maintain the Property in good order, repair
and condition, subject to ordinary wear and tear, on a basis consistent with
the operation and maintenance of comparable properties in the Nassau County and
Suffolk County, Long Island office markets of the same age as the Property,
(ii) maintain the Property in accordance with and otherwise comply with all
Applicable Laws and Restrictions and in a reasonably prompt manner cure any
violation of any Applicable Laws and Restrictions and (iii) make any and all
repairs of the Property necessary or appropriate to keep the same in the
condition required by the preceding clauses (i) and (ii), whether interior or
exterior, structural or nonstructural, ordinary or extraordinary, foreseen or
unforeseen.

SECTION 9.2.  Replacement of
Components.  Lessee, at its own cost
and expense, shall promptly replace or cause to be replaced all parts of the
Improvements that may from time to time become worn out, lost, stolen,
destroyed, damaged beyond repair or permanently rendered unfit for use for any
reason whatsoever, provided that
Lessee shall not be obligated to replace any such part if (x) such part has
become obsolete or unnecessary and its replacement is otherwise not necessary
or customary (based on buildings of comparable age and general design in the
Suffolk County, Long Island office market) for the proper functioning of the
Improvements or (y) the failure to replace such part will not adversely, other
than in an immaterial manner, affect the value of the Property as a whole.  In addition, Lessee may, at its own cost and
expense, remove in the ordinary course of maintenance, service, repair,
overhaul or testing, any such parts, whether or not functioning properly, worn
out, lost, stolen, destroyed, seized, confiscated, damaged beyond repair or
permanently rendered unfit for use, provided that
Lessee will, at its own cost and expense, replace such parts as promptly as
practicable subject to the proviso in the immediately preceding sentence.  All replacement parts required pursuant to
the above provisions of this Section 9.2 (“Replacement Parts”) shall be
free and clear of all Liens (except for Permitted Liens and except in the case
of Replacement Parts temporarily installed on an emergency basis).  Immediately upon any Replacement Part
becoming incorporated or installed in or attached to any of the Improvements as
above provided, without further act (and subject to any Permitted Liens), (i)
legal title to such Replacement Part shall thereupon vest in Lessor and shall
become subject to this Lease, (ii) such Replacement Part shall be deemed part
of the Improvements for all purposes hereof to the same extent as the parts
originally incorporated or installed in or attached to the Buildings and
Improvements, (iii) title to the replaced part shall thereupon vest in Lessee
free and clear of all rights of Lessor and shall no longer be deemed part of
Improvements (or subject to the lien in favor of any Person claiming by,
through or under

 7
 

 

 

Lessor), and (iv) in the case of any Replacement Part temporarily
installed on an emergency basis, upon the removal of such Replacement Part, any
Lien related to such Replacement Part shall be removed.

SECTION 9.3.  Lessee’s Right
to Enforce Warranties.  Lessor hereby
authorizes Lessee (including through its designees), at Lessee’s expense, to
assert all of Lessor’s rights (if any) under any applicable warranty and any
other claim that Lessee or Lessor may have under any agreements pertaining to
the Property, including the construction and/or modification thereof, and
Lessor agrees to cooperate, at Lessee’s expense, with Lessee and its agents in
asserting such rights.

SECTION 9.4.  Lessor not
Responsible for Repairs.  Lessor
shall not be required to maintain, repair, replace, alter, remove or rebuild
all or any part of the Property, and Lessee waives any right that it may now
have or hereafter acquire pursuant to any Applicable Laws and Restrictions to
(i) require Lessor to maintain, repair, replace, alter, remove or rebuild all
or any part of the Property, (ii) make repairs (whether or not at the expense
of Lessor) or (iii) terminate this Lease due to Lessor’s failure to maintain,
repair, replace, alter, remove or rebuild all or any part of the Property.

SECTION 9.5.  Alterations.

(a)           Except as provided
in this Section 9.5, and provided no Event of Default then exists, Lessee may,
without the consent of or notice to Lessor, at Lessee’s own cost and expense,
make Alterations to the Property.

(b)           If Lessee proposes
to make (1) Alterations to the exterior of any of the Main Buildings that would
be visible from the public roadways or (2) material changes to (as
distinguished from replacements or upgrades of) any of the Main Buildings’
structural, mechanical, plumbing, heating, ventilation and air-conditioning,
electrical or engineering systems (e.g., installing a large-scale solar-panel
system), Lessee shall notify Lessor and Mortgagee of the same at least thirty
(30) days prior to the commencement of the Alterations (a “Notice of
Alterations”) and shall concurrently therewith furnish Lessor and Mortgagee
with reasonably detailed plans and specifications for such Alterations (but in
no event shall plans and specifications be required in excess of those
delivered to Governmental Authorities as part of Lessee’s applications for
permits and licenses).  If Lessor in good
faith determines that such Alterations, either individually or in the aggregate
with all other Alterations, upon completion will materially and adversely
affect the fair market value of the Property other than in an immaterial
manner, Lessor shall give notice of its objection (a “Notice of Objection”)
within ten (10) Business Days after Lessor’s receipt of a Notice of
Alterations.  If Lessor and Lessee cannot
agree whether or not such Alterations would adversely, other than in an
immaterial manner, affect the fair market value of the Property within ten (10)
Business Days after Lessee’s receipt of a Notice of Objection, such matter
shall be resolved by the Appraisal Procedure, wherein the appraiser(s) deciding
such matter will value the Property both with and without such Alterations.
Each party shall pay its own fees in connection with such appraisal and
one-half of the Appraiser’s fees.  If
Lessee shall prevail in any such dispute, Lessee shall have the right to make
such Alterations, 

 8
 

 

 

subject only
to the express limitations contained elsewhere in this Section 9.5 (i.e., other
than this subsection (b)).  If Lessor
shall prevail in any such dispute (and even prior to the resolution of any such
dispute), Lessee nevertheless may proceed to make such Alterations, subject to
the express limitations elsewhere in this Section 9.5 and to the following
additional conditions:  (1) at the time
of initiating such Alterations, Lessee either (x) has a Minimum Rating or (y)
posts a bond or other security in a form and from a surety (if applicable) reasonably
acceptable to Lessor in an amount equal to the estimated cost of removing such
structural Alterations at the end of the Term, repairing any damage to the
Property caused by such removal and restoring the affected portion of the
Property to substantially the same condition in which it would have been had
such Alterations not been made (collectively, the “Removal Cost”, and if
Lessor and Lessee shall dispute such estimated cost the matter shall be
resolved by the Appraisal Procedure), which bond or other security amount shall
be adjusted each January 1 during the balance of the Term commencing on the
January 1st first occurring at least 12 months thereafter by the percentage
change in the Consumer Price Index from the first of the month in which such
bond or securities is first posted, and (2) Lessee shall execute and deliver to
Lessor its undertaking (i) to remove by not later than the last day of the
stated Term or within thirty (30) days after the earlier termination of this
Lease, at Lessee’s own cost and expense, such Alterations, (ii) to repair any
damage to the Property caused by such removal, (iii) to restore the affected
portion of the Property to substantially the same condition in which it would
have been had such Alterations not been made and (iv) in the event Lessee falls
below the Minimum Rating, Lessee shall, within thirty (30) days of the same,
post a bond or other security as described above in clause (1)(y) of this
Section 9.5(b).  If Lessor shall not
provide a Notice of Objection within ten (10) Business Days after the giving of
a Notice of Alteration, or if Lessor shall have given a Notice of Objection but
the resultant dispute shall have been resolved in Lessee’s favor, Lessee shall
not be required to restore the Property as provided in the preceding sentence
(and if Lessee shall have already delivered any security and the undertaking
referred to in clause (1)(y) and (2) above prior to the resolution of any such
dispute, then the same shall immediately be returned to Lessee), and Lessee
shall have no obligation to remove such Alteration at the end of the Term under
this Section 9.5(b) or any other provision of this Lease, notwithstanding any
provision hereof to the contrary.

(c)           Lessee shall have
the right to seek amendments, variances, special permits and the like in
respect of the zoning for the Property (or any portion thereof) and other
Applicable Laws and Restrictions, provided that
any of the foregoing shall not cause a reduction in the fair market value of
the Property (other than to a de minimis extent).  During the Term, Lessee shall have exclusive
rights in respect of the foregoing, subject to the proviso contained in the
immediately preceding sentence.  Lessor
shall cooperate with Lessee at Lessee’s expense in a prompt and timely manner
in connection with any such actions on the part of Lessee, and such cooperation
shall include execution and delivery of documents reasonably required by any
such actions.

(d)           Notwithstanding the
terms of Section 9.5(b) or Section 9.5(c), but subject to Sections  9.5(e)
and 9.5(f), Lessee shall have the right, without compliance with or
otherwise being subject to the terms of Section 9.5(b) or Section 9.5(c), to
make the Alterations described on Schedule 9.5(d).

 9

 

(e)           Lessee shall, at its cost and
expense, make all Alterations to the Property required so as to cause the
Property to comply with Applicable Laws and Restrictions.

(f)            Lessee shall cause any Alterations
to be done and completed in a good and workmanlike manner, in accordance with
the plans and specifications (if any) free from Liens and material faults and
defects, and in compliance with all Applicable Laws and Restrictions.    Upon completion of any Alterations, subject
to Lessee’s rights under Section 10.1, (x) all contractors,
subcontractors, materialmen and professionals who provided work, materials or
services in connection with such Alterations shall have been paid and shall
have delivered unconditional releases of Liens, and (y) all necessary permits,
licenses and other approvals necessary for the continued use, operation and
occupancy of the Property shall have been duly issued.

SECTION
9.6.  Title to Alterations.  Title to Alterations shall without further
act vest in Lessor and shall be deemed to constitute a part of the Property and
be subject to this Lease in any of the following cases:

(a)           such Alteration shall be in
replacement of or in substitution for a portion of the Improvements, as the
same are constituted as of the date hereof;

(b)           such Alteration shall be required to
be made pursuant to the terms of Section 9.1, Section 9.2 or Section 9.5(e); or

(c)           such Alteration shall be
Nonseverable.

If an Alteration is not within any of the categories
set forth in clauses (a) through (c) of this Section 9.6, then title to such
Alteration shall vest in Lessee.  So long
as removal thereof shall not result in the violation of any Applicable Laws and
Restrictions or this Lease, all Alterations to which title shall vest in Lessee
as aforesaid may be removed at any time by Lessee, provided that Lessee shall, at its expense, repair any
damage (other than of a de minimis
nature) to the Property caused by the removal of such Alteration and shall
restore the affected portion of the Property to substantially the same
condition in which it would have been had the Alteration not been made.

SECTION 9.7. 
No Lessor Rights to Lessee’s Personalty.  Lessee may from time to time own or hold
under lease from Persons other than Lessor, furniture, trade fixtures and
equipment located on or about the Property which shall not be subject to this
Lease.  Lessor shall not own or have any
other right or interest in or to such furniture, trade fixtures and equipment
and waives any landlord’s lien or other lien or claim with respect thereto,
whether arising under common law or statute, and from time to time, upon the
request of Lessee, Lessor shall promptly acknowledge the same in writing to
Lessee or other Persons designated by Lessee. 

 

 10
 

 

 

ARTICLE X.

PERMITTED CONTESTS; EXCUSABLE DELAY

SECTION
10.1.  Contest Right.  Notwithstanding anything to the contrary,
provided no Event of Default has occurred and is continuing, if, to the extent
and for so long as:

(a)           a test, challenge, contest, appeal or
proceeding for review of any Applicable Law and Restriction shall be prosecuted
with reasonable diligence and in good faith by Lessee (provided such test, challenge, appeal or
proceeding shall not involve a material risk of (i) sale, forfeiture or loss of
title to any part or interest in the Property or (ii) criminal or punitive
civil liability (other than any fine or similar charge (including interest
thereon) by reason of noncompliance with such Applicable Law and Restriction),
or 

(b)           compliance with an Applicable Law and
Restriction shall have been excused or exempted by a nonconforming use permit,
variance, waiver, amendment, modification, rescission, moratorium, termination,
extension, forbearance or similar action granted or issued by the Person
otherwise entitled to enforce such Applicable Law and Restriction, 

Lessee shall not be required to comply with such
Applicable Law and Restriction; provided, with respect to a matter described in
Section 10.1(a) above, Lessee shall pay promptly all costs, including all
interest and penalties, and perform all acts (if any) the payment and
performance of which shall be ultimately ordered or decreed as a result of such
test, challenge, appeal or proceeding.  

SECTION
10.2.  Lessor’s Cooperation.  Lessor shall, at Lessee’s expense, cooperate
fully with Lessee in connection with any such test, challenge, appeal or
proceeding described in Section 10.1(a) and any application or other request
for any permit, variance, waiver, amendment, modification, rescission,
moratorium, termination, extension, forbearance or similar action described in
Section 10.1(b).  Lessor will join in any
such test, challenge, appeal or proceeding, or application or other request, as
Lessee may request or, at Lessee’s option, permit the same to be brought in
Lessor’s name.  

SECTION 10.3.  Effect of Contest on Lessee’s Obligations
Generally.  It is agreed by the
parties that the terms of Section 10.1 shall qualify each and every provision
of this Lease that imposes a compliance obligation on Lessee, even if such
provision does not refer to Section 10.1 or Lessor’s contest right thereunder.

SECTION 10.4. 
Force Majeure.  Lessee’s
performance of its obligations hereunder (other than any monetary obligation)
shall be excused to the extent the same is adversely affected by delays due to
strikes, lockouts, work stoppages, acts of God, inability to obtain labor or
materials, the outbreak of armed hostilities, enemy action, acts of domestic or
international terrorism, riot, civil commotion, fire, casualty or any other
similar or dissimilar causes beyond the reasonable control of Lessee (but not
including Lessee’s insolvency or financial condition).

 

 11
 

 

 

ARTICLE
XI.

ENVIRONMENTAL
COMPLIANCE

SECTION 11.1.  Lessee’s
Obligation Generally.  Lessee will
comply and cause the Property to comply at all times with Environmental Laws
with respect to the Property, and no Hazardous Material shall be brought onto,
permitted to exist or remain in, at, under or upon, or stored, or disposed of
or released from or used, at the Property by Lessee or any of its employees,
agents, independent contractors, licensees, sublessees or invitees, in
violation of any Applicable Laws and Restrictions or in such manner as would
result in any liability thereunder (with the exception of materials used or
stored in connection with the operation or maintenance of the Property or
Lessee’s business operations and in compliance with all Environmental
Laws).  Except as permitted by Applicable
Laws and Restrictions, Hazardous Material shall not be placed into the plumbing
or waste treatment systems of the Property except for systems which are
designed to accept Hazardous Material for treatment and discharge.  Lessee covenants that it shall not install or
permit the installation on the Property of any underground storage tanks,
surface impoundments or asbestos-containing materials in violation of, or in a
manner which results in liability under, any Applicable Laws and Restrictions
and shall cause any Alterations of the Property undertaken by, through or under
Lessee to be done in a way so as to not expose persons working on or visiting
the Property to Hazardous Material either in excess of safety levels
established by Applicable Laws and Restrictions or in such amounts or
concentrations as would result in any liability to any third party.  Notwithstanding anything else that may be
construed to the contrary, upon becoming aware of the presence of Toxic Mold at
the Property, Lessee shall (i) undertake an investigation to identify the
source(s) of such Toxic Mold and shall develop and implement an appropriate
remediation plan to eliminate the presence of any Toxic Mold, (ii) perform or
cause to be performed all acts reasonably necessary for the remediation of any
Toxic Mold (including taking any action necessary to clean and disinfect any
portions of the Property affected by Toxic Mold, including providing any
necessary moisture control systems at the Property), and (iii) provide evidence
reasonably satisfactory to Lessor of the foregoing.

SECTION
11.2.  Lessee’s Obligation with
respect to Remedial Work.  Lessee’s
responsibility pursuant to Section 11.1 includes the obligation and, provided
no Event of Default exists, exclusive right of Lessee to perform any
investigatory and/or remedial or other activities required, ordered or
recommended by any Governmental Authority, or as otherwise necessary to avoid
injury or liability to any person or property, to prevent the spread of any
Hazardous Materials or to provide for the continued safe operation of the
Property (hereinafter “Remedial Work”) and shall include any Remedial
Work caused solely by the acts of third parties, except to the extent caused by
Lessor.  Lessee’s obligations under
Section 11.1 expressly include any Remedial Work required relating to any
Hazardous Material existing in, at, under or upon the Property (other than any
Remedial Work caused by Lessor) before the date hereof.  If Lessee fails to perform the Remedial Work
in a reasonably prompt manner after notice from Lessor (subject to Lessee’s
contest rights under Section 10.1), then, on not less than thirty (30) days’
notice from Lessor to Lessee, Lessor may, at its option and in its sole
discretion, commence such work itself in compliance with Environmental Laws,
and Lessee shall pay all

 

 12
 

 

 

reasonable
costs thereby incurred.  Upon completion
of such Remedial Work, Lessee shall provide an inspection or audit of the
Property prepared by a licensed hydrogeolist, licensed environmental engineer
or qualified environmental consulting firm reasonably approved by Lessor
assessing the results of such Remediation Work. 
If, based on sound environmental advice, an operations and maintenance
plan should be implemented, Lessee shall cause such operations and maintenance
plan to be prepared and implemented at its expense and Lessee shall take all
actions necessary to comply with such plan.

SECTION 11.3.  Lessee’s
Obligation with respect to Third Parties. 
Without limiting Lessee’s obligations under Section 11.1 or any other
provision of this Lease provided no Event of Default exists, Lessee shall be exclusively
responsible for responding to and complying with any administrative notice,
order, request or demand, or any third-party claim or demand relating to the
potential or actual presence of Hazardous Materials on the Property whether or
not caused by Lessee or another party (other than Lessor), except where the
contamination was caused solely by Lessor. 
The responsibility conferred under this Section 11.3 includes responding
to such orders on behalf of Lessor and defending against any assertion of Lessor’s
financial responsibility or individual duty to perform under such orders.

SECTION 11.4.  Indemnity for
Environmental Matters.  Lessee shall
hold harmless, indemnify and defend Lessor and any Mortgagee and their
respective managers, members, partners, officers, employees and directors from
and against damages resulting from its breach of the foregoing provisions of
this Article XI, in accordance with the terms of Section 20.1.

SECTION 11.5.  Lessee to
Notify Lessor of Environmental Events. 
Lessee shall promptly notify Lessor and any Mortgagee when Lessee
becomes aware of (i) the presence of Hazardous Material on the Property which
violate any Applicable Laws and Restrictions, (ii) the release, or threatened
release, onto or under the Property of Hazardous Material in amounts which
violates any Applicable Laws and Restrictions or which would result in
liability under any Applicable Laws and Restrictions, whether or not caused or
permitted by the Lessee, (iii) the issuance to Lessee or any sublessee of space
in or other user of the Property of any written complaint, notice or order of
violation or non-compliance or potential liability with regard to the Property
or the use thereof with respect to Environmental Laws (including whether any
investigative and/or remedial action is required or recommended pursuant
thereto); (iv) any written notice of a Governmental Authority or other Person
of  a pending (or, if such notice is from
a Governmental Authority, threatened) investigation as to whether Lessee’s (or
any other Person’s) operations on the Property are not in compliance with any
Environmental Laws or (v) the migration or release, or a suspected migration or
release, of Hazardous Material from the Property to other properties. 

SECTION
11.6.  Lessee Right to Control
Remediation.  Lessee shall have the
sole right to control the method or methods of complying with its obligations
under this Article XI, including the right to select attorneys, environmental
engineers and other consultants to assist Lessee in so complying and the
selection of the methods of effectuating any remediation  and the contractors to perform the same, and
the exclusive

 

 13
 

 

 

right to deal
with Governmental Authorities having jurisdiction over the Property regarding
the investigation and characterization of the presence of Hazardous Material
and the selection of the method of remediating the same, provided that such remediation is completed in accordance
with Applicable Laws and Restrictions, and no Event of Default then exists (it
being understood that for so long as such Event of Default is continuing,
Lessor shall have the sole right to control such method or methods at Lessee’s
cost).  Lessee shall notify Lessor in a
reasonable manner when Lessee takes any actions to comply with its environmental-related
obligations hereunder. Lessor shall cooperate with Lessee in a prompt and
timely manner, and at Lessee’s cost, in connection with any such actions, and
such cooperation shall include execution and delivery of documents or pleadings
reasonably required by any such actions.

ARTICLE XII.

INSURANCE

SECTION 12.1.    Lessee, at its sole cost, for the mutual benefit of
Lessor and Mortgagee, shall obtain and maintain during the Term the following
policies of insurance:

(a)           Property;
Terrorism Coverage

(i)            Property insurance insuring against loss or damage
customarily included under so called “all risk” or “special form” policies
including fire, lightning, vandalism, and malicious mischief, boiler, machinery
and/or earthquake coverage and subject to the provisions of Section
12.1(a)(ii), coverage for damage or destruction caused by the acts of terrorism
(or such policies shall have no exclusion from coverage with respect thereto)
and such other insurable hazards as under good insurance practices, from time
to time are insured against for other property and buildings similar to the
premises in nature, use, location, height, and type of construction (the “Applicable
Insurance Standards”).  Such
insurance policy shall also insure for ordinance of law overage, costs of
demolition and increased cost of construction in amounts satisfactory to Lessor
and Mortgagee. Each such insurance policy shall: 

(A)          be in an amount equal to 100% of the then replacement
cost of the Improvements without deduction for physical depreciation,

(B)           have deductibles no greater than $1,500,000 per
occurrence (adjusted each September 1 by the percentage change in the Consumer
Price Index from September, 2006), provided that if Lessee’s senior,
long-term unsecured debt is less than “BB-” by Standard & Poor’s Ratings
Group, then such deductible shall not exceed 5 percent of the then annual Base
Net Rent, subject to Section 12.1(h) and
Section 12.2(c),

(C)           be
paid as they are due and payable and 

 

 14
 

 

 

(D)          contain either no coinsurance or, if coinsurance, an
agreed amount endorsement. Mortgagee shall be named mortgagee and loss payee on
a standard mortgagee endorsement.  

(ii)           Notwithstanding anything in Section 12.1(a)(i) to the
contrary, for so long as TRIA is in effect substantially in the same manner as
in effect as of the Effective Date, Lessee shall be required to obtain and
maintain coverage against loss or damage by terrorist acts covered by TRIA as
part of the “all risk” property policy required by Section 12.1(a)(i); provided that such coverage is available.  In the event that TRIA is not in effect in
substantially the same manner as in effect as of the Effective Date, and Lessee
cannot and does not wish to obtain coverage with respect to terrorist acts as
part of the “all risk” property policy required by Section 12.1(a)(i), Lessee
shall be required to obtain coverage for terrorism (as stand alone coverage,
which may be obtained in a blanket program) in an amount equal to 100% of the “Full
Replacement Cost” of the Property; provided that
such coverage is available. 
Notwithstanding the foregoing, with respect to any such coverage for
such acts, Lessee shall not be required to pay any insurance premiums solely
with respect to such terrorism coverage in excess of the Terrorism Premium Cap
(hereinafter defined); provided that
if the insurance premiums payable with respect to such terrorism coverage
exceeds the Terrorism Premium Cap, Lessor (on reasonable notice to Lessee and
without resulting in duplicative insurance costs to Lessee) may, at its option
(1) purchase a stand-alone terrorism policy, with Lessee paying such portion of
the insurance premiums with respect thereto equal to the Terrorism Premium Cap
and Lessor paying such portion of the insurance premiums in excess of the
Terrorism Premium Cap or (2) modify the deductible amounts, policy limits and
other required policy terms to reduce the insurance premiums payable with
respect to such stand-alone terrorism policy to the Terrorism Premium Cap.  As used herein, “Terrorism Premium Cap” means
an amount equal to the cost of a stand-alone terrorism policy with respect to
the Property as of the first renewal period in which TRIA is not in effect in
substantially the same manner as it is in effect as of the Effective Date, but
in no event more than $300,000 per annum (adjusted each September 1 by the
percentage change in the Consumer Price Index from September, 2006).  Lessee shall obtain the coverage required
under this subsection 12.1(a)(ii) from a carrier which otherwise satisfies the
rating criteria specified in Section 12.2 or in the event that such coverage is
not available from such a carrier, Lessee shall obtain such coverage from the
highest rated insurance company providing such coverage taking into account the
Terrorism Premium Cap.

(b)           Flood insurance if any part of the Property is
located in an area now or hereafter designated by the Federal Emergency
Management Agency as a Zone “A” & “V” Special Hazard Area.  Such policy shall be in an amount as shall be
approved by Lessor and Mortgagee in their reasonable discretion taking into
account the Applicable Insurance Standards.

 

 15
 

 

 

(c)           Liability
insurance, including (i) “Commercial General Liability Insurance”, (ii) “Owned”,
“Hired” and “Non Owned Auto Liability”:, and (iii) umbrella liability coverage
for personal injury, bodily injury, death, accident and property damage, such
insurance providing in combination no less than $35,000,000 (adjusted every
September by a percentage equal to the percentage change in the Consumer Price
Index from September, 2006) of primary, excess and/or umbrella liability
insurance for any and all claims, with reasonable deductibles and self insured
retentions (it being agreed, without limitation, that deductibles and self
insured retentions of $1,500,000 per occurrence (adjusted each September 1 by
the percentage change in the Consumer Price Index from September, 2006) shall
not be deemed unreasonable, provided that if Lessee’s senior,
long-term unsecured debt is less than “BB-” by Standard & Poor’s Ratings Group,
then such deductible shall not exceed 5 percent of the then annual Base Net
Rent). 
The policies described in this subsection shall also include coverage
for elevators, escalators, independent contractors, “Contractual Liability”
(covering, to the maximum extent permitted by law, Lessee’s obligation to
indemnify Lessor and Mortgagee as required under this Lease), “Products” and “Completed
Operations Liability” coverage.

(d)           Rental
loss insurance (i) with Mortgagee being named as “Mortgagee Loss Payee” and
Lessor being named as loss payee, and (ii) in an amount equal to 100% of the
projected Base Net Rent and Supplemental Rent for a period of not less than
eighteen (18) months.  The amount of such
insurance shall be increased from time to time during the Term and as when the
estimated or actual Rents increase.   

(e)           Comprehensive
boiler and machinery insurance (without exclusion for explosion) covering loss
or damage to the Improvements and all mechanical and electrical equipment.  Minimum coverage per accident must be in an
amount equal to 100% of the full replacement cost of such equipment and the
Improvements housing such equipment.

(f)            Workers
compensation and disability insurance with respect to any employees of Lessee,
as required by any Legal Requirement.

(g)           During
any period of repair or restoration, builders “all-risk” insurance on the so
called completed value basis in an amount equal to not less than the full
insurable value of the Property, against such risks, (including fire and
extended coverage and collapse of the Improvements to agreed limits) as Lessor
may request.

(h)           So long as (i) no Event of Default exists, and (ii)
Lessee maintains a Minimum Rating, Lessee may self-insure all or any portion of
the coverage referred to in Section 12.1. 
If Lessee elects to maintain a self-insurance program, such program
shall be maintained by Lessee in a prudent and commercially reasonable manner.

 

 16
 

 

 

SECTION
12.2.  Policies.

(a)           All
policies of insurance (the “Policies”) required pursuant to Section 12.1
shall:

(i)            be issued by companies with a claims paying ability
rating of “A” by Fitch or “A” or better by S&P (provided,
however, for multi-layered policies in
lieu of an “A” or better rating by S&P, (A) if four (4) or less insurance
companies issue the Policies, then at least 75% of the insurance coverage
represented by the Policies must be provided by insurance companies with a
claims paying ability rating of “A” or better by S&P (and the equivalent by
any other Rating Agency), with no carrier below “BBB” (and the equivalent by
any other Rating Agency) or (B) if five (5) or more insurance companies issue
the Policies, then at least sixty percent (60%) of the insurance coverage
represented by the Policies must be provided by insurance companies with a claims
paying ability rating of “A” or better by S&P (and the equivalent by any
other Rating Agency), with no carrier below “BBB” (and the equivalent by any
other Rating Agency); 

(ii)           name Mortgagee and its successors and/or assigns as
their interest may appear as the mortgagee (in the case of property insurance),
loss payee (in the case of loss of rents coverage) and an additional insured
(in the case of liability insurance); 

(iii)          name Lessor and its successors and/or assigns loss
payee (in the case of property insurance
and loss of rents coverage) and an additional
insured (in the case of liability insurance); 

(iv)          contain (in the case of property insurance) a
Non-Contributory Standard Mortgagee Clause and a Mortgagee’s Loss Payable
Endorsement, or their equivalents, naming Mortgagee as the person to which all
payments made by such insurance company shall be paid: 

(v)           contain a waiver of subrogation against Lessor and
Mortgagee; 

(vi)          contain
such provisions as Lessor deems reasonably necessary or desirable to protect
its interest, including (A) endorsements providing that neither Lessee,
Mortgagee nor any other party shall be a co-insurer under the Policies, (B)
that Lessor and Mortgagee shall receive at least thirty (30) days’ prior
written notice of any modification, reduction or cancellation of any of the
Policies (or, in the case of cancellation for nonpayment, until at least ten
(10) days after receipt of written notice thereof by Lessor and Mortgagee); and
(C) providing that Lessor and Mortgagee are permitted to make payments to
effect the continuation of such policy upon notice of cancellation due to
non-payment of premiums; and

 

 17
 

 

 

(vii)         be reasonably satisfactory in form and substance to
Lessor and Mortgagee as to amounts, form, risk coverage, deductibles, loss
payees and insureds (except that where any of the foregoing is specified
herein, such specific term shall govern over this clause (vii)).

(b)           Lessee
shall pay the premiums for such Policies (the “Insurance Premiums”) as the same
become due and payable and shall furnish to Lessor evidence of the renewal of
each of the Policies together with receipts for or other evidence of the
payment of the Insurance Premiums reasonably satisfactory to Mortgagee. Lessee
shall deliver to Lessor certificates of each Policy within five (5) Business
Days after the renewal of such Policy and, upon Lessor’s request, Lessee shall
deliver certified copies or duplicate originals of such Policies within ten
(10) Business Days after Lessee’s receipt of such Policies.

(c)           Lessee shall have the right to
utilize retentions, deductibles and self-insurance to an extent generally
consistent with Lessee’s past and current practices and with appropriate
increases thereto based on inflation and on insurance-market conditions from
time to time.

(d)           Lessee
shall the right to obtain such coverages through one or more blanket policies.

(e)           Nothing
herein shall be construed in any manner as obligating Lessee in respect of  insurance with respect to any location other
than the Property.

ARTICLE XIII.

RETURN OF LEASED PROPERTY TO LESSOR

Unless the Lessor’s Interests are then being transferred to Lessee or its
designee pursuant to this Lease, Lessee shall, on the expiration or earlier
termination of this Lease, return the Property to Lessor by surrendering the
same into the possession of Lessor free and clear of all Liens, except that
Lessee shall have no responsibility or liability in respect of Liens described
in clauses (a), (b) (to the extent of taxes allocable to periods after the Term),
(e) and (f) of the definition of “Permitted Liens”.  All Alterations in respect of which title has
not been vested in Lessor hereunder that shall have not been removed by Lessee
at or prior to the thirtieth (30th) day after the expiration or earlier termination
of this Lease shall be deemed abandoned in place by Lessee and shall become the
property of Lessor.  Lessee shall remove
from the Property, on or prior to the thirtieth (30th) day after the expiration
or earlier termination of this Lease, all of Lessee’s personal property and, if
applicable, any personal property of Lessee’s sublessees, assignees or other
users of the Property which would constitute Lessee’s personal property if
owned by Lessee (subject to the rights of such Persons granted under any
applicable Lessor Nondisturbance Agreements) and shall repair any damage (other
than of a de minimis nature) caused by such removal.  Any property described in the

 

 18
 

 

 

immediately preceding sentence not
so removed shall become the property of Lessor, and Lessor may cause such
property to be removed from the Property and disposed of, but the cost of any
such removal and disposition and of repairing any damage caused by such removal
shall be borne by Lessee.  Except for
surrender at the expiration or earlier termination of the Term, no surrender to
Lessor of this Lease or of the Property shall be valid or effective unless
agreed to and accepted in writing by Lessor. 
Lessee shall assign to Lessor any and all assignable warranties,
licenses and permits relating to the property surrendered to Lessor which
extend beyond the expiration or earlier termination of this Lease, such
assignment to be without representation, warranty or recourse of any sort
whatsoever.

ARTICLE XIV.

CASUALTY; CONDEMNATION

SECTION
14.1.  Notice.  Promptly after Lessee or Lessor becomes aware
that any part of the Property has become the subject of a Casualty or
Condemnation, such party shall give notice thereof to the other party.

SECTION
14.2.  Casualty or Condemnation not Constituting an Event of Loss.  If there
shall occur a Casualty or Condemnation not constituting an Event of Loss, then
this Lease shall continue in full force and effect and Lessee shall, at Lessee’s
own cost and expense and in accordance with the applicable provisions of
Article IX, proceed with reasonable diligence and promptness to carry out any
necessary demolition and restore, repair, replace and/or rebuild the
Improvements in order to restore the same, to the extent reasonably
practicable, to substantially the condition, utility and value of the
Improvements immediately prior to such Casualty or Condemnation.

SECTION
14.3.  Event of Loss.  If an Event of Loss occurs, Lessee shall
elect as between one of the following two options (it being agreed that if it
is impracticable to restore and rebuild the Improvements in the manner required
by the following clause (a), or if Lessee shall fail to notify Lessor of its
election as between the following clauses (a) and (b) within one hundred and
eighty (180) days of the occurrence of the Event of Loss, or if the Event of
Loss is of the type described in clause (2), (3) and/or (4) of the definition “Event
of Loss”, then Lessee shall be deemed to have elected the option set forth
in the following clause (b)):

(a)           Lessee
shall restore and rebuild the Improvements in the same manner as is required
under Section 14.2; or

(b)           Lessee
shall terminate this Lease on the date specified by Lessee in such notice,
which date shall not be earlier than the thirtieth (30th) day after such notice, and on such termination
date, Lessee shall pay to Lessor all accrued and unpaid Rent to the date of
termination, shall pay to Lessor any Net Proceeds in its possession and shall
assign to Lessor all of its rights in any uncollected Net Proceeds, whereupon
the Term shall end and the obligations of Lessee and Lessor hereunder (other
than any obligations expressed herein as surviving termination of this Lease)
shall terminate.  If Lessor and Lessee
shall disagree about whether a Casualty or

 19

 

Condemnation constitutes an Event
of Loss, then the same shall be resolved by the Arbitration Procedure.

SECTION
14.4.  Collection, Disbursement and Application of Proceeds for so long as Lease
Continues.  

(a)           Payments
(except for payments under insurance policies maintained by Lessor) received at
any time by or on behalf of Lessor or Lessee from any Governmental Authority or
other Person with respect to any Casualty or Condemnation in a case in which
Section 14.2 or 14.3(a) is applicable shall be paid to Lessee (subject, however
to Section 14.4(b)), to be applied, as necessary, for the repair or restoration
of the Buildings and the Improvements and any excess remaining thereafter shall
be applied in accordance with Section 14.4(c). 

(b)           Notwithstanding
the terms of Section 14.4(a), if Lessee does not have a Minimum Rating, or the
Net Proceeds exceed FIVE MILLION DOLLARS ($5,000,000) (adjusted each September
1 by the percentage change in the Consumer Price Index from September, 2006),
or if an Event of Default exists, then this Section 14.4(b) shall apply:  

(i)            Net Proceeds shall be paid to a U.S.
Federal or state chartered bank or trust company proposed by Lessee and
approved by Lessor (such approval not to be unreasonably withheld) (such bank
or trust company, the “Disbursing Agent”); provided,
however, if, at such time, the Mortgagee
is a U.S. federal or state chartered bank or trust company, then the Disbursing
Agent shall be such holder (and if the Mortgagee is not a U.S. federal or state
chartered bank or trust company, the Mortgagee may designate such a bank or
trust company to serve as the Disbursing Agent).  Moneys received by the Disbursing Agent shall
not be commingled with the Disbursing Agent’s general funds and shall be held
by the Disbursing Agent in trust, either separately or with other trust funds,
for the uses and purposes provided in this Lease.  The Disbursing Agent shall invest any moneys
held by it in Permitted Investments and the interest or other income earned
thereon shall be added to the moneys so held in trust and deemed part of the
Net Proceeds.  The Disbursing Agent shall
not be liable or accountable for any action taken or suffered by the Disbursing
Agent or for any disbursement of moneys made by the Disbursing Agent in good
faith or in good faith reliance on advice of legal counsel.  In disbursing money pursuant to Section
14.4(b)(iii), the Disbursing Agent may rely conclusively on the information
contained in any notice given to the Disbursing Agent and Lessor by Lessee in
accordance with the provisions of Section 14.4(b)(iii) unless Lessor notifies
the Disbursing Agent in writing within ten (10) days after the giving of any
such notice by Lessee that Lessor intends to dispute such information, in which
case the disputed amount shall not be disbursed but shall continue to be held
by the Disbursing Agent until such dispute shall have been resolved.

(ii)           To the extent the estimated total cost of such
restoration, repair, replacement or rebuilding (as agreed by Lessor and Lessee)

 

 20
 

 

 

exceeds the Net
Proceeds, the deficiency, including the amount of any insurance deductible or
self-insurance amount, shall be paid first out of Lessee’s own funds prior to
the payment of any Net Proceeds from the Disbursing Agent.

(iii)          From
time to time, but not more than twice in any thirty (30) day period (unless
prevailing practice requires more frequent payments), except for a final
payment, and provided that Lessee has first
paid any amounts required to be paid by Lessee out of its own funds pursuant to
clause (ii) above, Lessee may (A) request reimbursement out of the Net Proceeds
for the actual costs and expenses incurred by Lessee in connection with such
repair and rebuilding; or (B) request the Disbursing Agent to pay such costs
and expenses directly to contractors and suppliers.  Such requests shall be made by written notice
to the Disbursing Agent, with a copy to Lessor, setting forth in customary
detail all of such costs and expenses incurred by Lessee or payable to
contractors and suppliers, as the case may be. 
If Lessor shall in good faith desire to dispute the information
contained in any notice given by Lessee pursuant to this clause (iii), Lessor
shall so notify Lessee and the Disbursing Agent in writing within ten (10) days
after the giving of such notice, specifying the amount intended to the disputed
and the nature of the dispute.  After
such ten (10) day period has elapsed, if Lessor has not disputed the
information contained in Lessee’s notice, the Disbursing Agent shall promptly
disburse to Lessee or such contractors and suppliers, as the case may be, out
of the Net Proceeds the amount of such costs and expenses, subject, however, to
clause (v) below.

(iv)          Lessee
shall have the right to submit a dispute of the type described in Section 14.4(b)(iii),
or any other dispute arising thereunder, for resolution in accordance with the
Arbitration Procedure.

(v)           The
Net Proceeds held by the Disbursing Agent shall be disbursed in accordance with
reasonable construction-lending disbursement requirements, including that (a)
no Event of Default exists at the time of the requested disbursement, (b) the
restoration complies with the requirements set forth herein with respect to
Alterations (including the requirement that all Alterations comply with all Applicable
Law and Restrictions), (c) all plans and specifications for the restoration
have been reviewed and approved by Lessor and Mortgagee in their reasonable
discretion to the extent the same require review and approval under Article IX
hereof, (d) the Disbursing Agent shall have received all lien waivers in
accordance with local construction practices, and (e) the Disbursing Agent may
retain appropriate retainages (which in no event will exceed 10 percent by
trade) until the restoration is substantially complete in accordance with the
terms hereof.

(c)           Subsequent to the substantial completion of the
restoration of the Improvements in accordance with Section 14.2 or 14.3(a)
(after reserving a reasonable amount for the final completion of such
restoration):

 

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(i)            Net Casualty Proceeds shall be paid to and retained
by Lessee; and

(ii)           Net Condemnation Proceeds shall be equitably
allocated as between, and paid to, Lessor and Lessee, based on the relative
value of Lessee’s condemned possessory interest and Lessor’s condemned
reversionary interest, taking into account Lessee’s unabated rent obligations
under Section 14.5 (and failing agreement between the parties, the allocation
shall be determined by the Appraisal Procedure).

(d)           Until
such time as it is determined whether a Casualty or Condemnation constitutes an
Event of Loss, and if so, whether Lessee will terminate this Lease pursuant to
Section 14.3(b), all Net Proceeds shall be paid over to and held by a
Disbursing Agent appointed and acting in accordance with Section 14.4(b)(i).

(e)           To
the extent that Lessee shall have satisfied its obligation under Section 12.1
to purchase insurance by its exercise of rights under Section 12.1(h), or
Lessee shall have utilized deductibles in the purchase of insurance required
under Section 12.1, or Lessee shall have failed to satisfy its
obligations under Section 12.1, and a result thereof, Net Casualty Proceeds are less than they otherwise would have been,
Lessee shall be responsible for such difference and, if Net Casualty Proceeds
are payable to Lessor, shall pay such difference to Lessor at the same time as
Net Casualty Proceeds would otherwise be so paid.

SECTION
14.5.  Rent Obligation When Lease Continues.  From and after any Casualty or
Condemnation, prior to the effective termination date (if any) pursuant to
Section 14.3(b), and/or during or prior to any period of repair or rebuilding
pursuant to this Article XIV, this Lease will remain in full force and effect,
and Base Net Rent and, to the extent incurred, Supplemental Rent shall continue
to accrue and be payable without abatement or reduction;  provided, however,
Lessee shall be entitled to a dollar for dollar credit applied first against
Base Net Rent due and then against Supplemental Rent due equal to the amount of
proceeds actually received by Mortgagee, if any, and otherwise Lessor from the
proceeds paid under the Policies maintained under Section 12.1(d).

SECTION
14.6.  Negotiations.  Lessee shall control the negotiations with
the relevant Governmental Authority or insurance carriers; provided that in any event, if such
Condemnation or Casualty constitutes an Event of Loss, Lessor may participate
at Lessor’s expense in such negotiations, provided
that (a) no settlement may occur without the prior written approval of Lessor
and Mortgagee, which approval shall not be unreasonably withheld, and (b) if an
Event of Default exists and is continuing, Lessor and Mortgagee shall control
such negotiations at Lessee’s expense. 
Lessee and Lessor shall give to each other such information, and copies
of such documents, which relate to such proceedings and are in its possession
as are reasonably requested by such other party and will consult with such
other party with respect to all negotiations.

SECTION 14.7. 
Lessee’s Right to Claim Relocation
Expenses, etc.  Nothing in this Article XIV shall be
construed to prevent Lessee from pursuing and collecting a

 

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condemnation award or other
compensation or settlement payment in respect of its loss and damages resulting
from any condemnation or taking (including relocation payments) unless, in a
case in which this Lease is being terminated in accordance with Section
14.3(b)), the same would be deducted from the amount that Lessor should
otherwise receive in respect of the Lessor’s Interests. Any amounts so
collected shall not be subject to the provisions of Section 14.4.

SECTION
14.8.  Express Provisions to the Contrary.  Each party hereby waives the
provisions of any statute or law that may be in effect at the time of a
Casualty under which a lease is automatically terminated or a tenant is given
the right to terminate a lease due to a Casualty, other than as provided in
this Article XIV, and this Article XIV shall constitute an express agreement to
the contrary in respect of any such statute or law.  

ARTICLE XV.

ASSIGNMENT

Lessee may assign this Lease to any
Person without the consent of Lessor provided that,
as of the effective date of the assignment, no Event of Default then
exists.  Any assignee shall assume any
obligations of Lessee arising from and after the effective date of the
assignment.  Such assignment shall not
release the Lessee named herein from its primary liability for the performance
of its duties and obligations under this Lease, and the Lessee named herein
(and all subsequent assignees) shall continue to be obligated for all
obligations of “Lessee” in this Lease, which obligations shall continue
in full effect as obligations of a principal and not of a guarantor or surety,
as though no assignment had been made. 
Any assignor of this Lease who so requests in writing of Lessor will
have the right, subsequent to any assignment, (a) to receive a duplicate copy
of each notice of default hereunder sent by Lessor to the Lessee from time to
time (and no such notice shall be effective as against such Lessee unless
and  until such copy has been delivered
to such assignor in accordance with the provisions of Section 25.2), and (b) to
cure any default by such Lessee under this Lease within the cure period
provided for hereunder.  To the extent an
assignor of this Lease performs on behalf of Lessee the obligations of Lessee
hereunder, such assignor shall be subrogated to the rights of Lessor (provided that such assignor may not claim or collect on such
subrogated right unless Lessor shall have received all amounts then due and
payable to Lessor from Lessee).

ARTICLE XVI.

SUBLEASE

SECTION
16.1.  Subleasing Permitted; Lessee Remains Obligated.  Lessee may
at any time and from time to time sublease the Property or any portion or
portions thereof to any one or more Persons or permit the occupancy of the
Property or any portion or portions thereof by any one or more Persons provided that, as of the effective date of
the subleasing, no Event of Default then exists.  Any such sublease, sub-sublease, license,
occupancy agreement or similar agreement (each, a “Sublease”) shall not
release Lessee from its primary liability for the performance of its duties and
obligations under this Lease, and the Lessee named herein (and all subsequent
assignees) shall continue to be obligated for all obligations of “Lessee”
in this Lease, which obligations shall continue in

 

 23
 

 

 

full effect as obligations of a principal and not of a guarantor or
surety, as though no Sublease had been made. Lessee shall have the sole right
to the receipt of revenues from any sublessees of the Property, or any portion
thereof, and no Sublease has been or shall be assigned as collateral to Lessor.

SECTION
16.2.  Provisions of Subleases.  Subject to the terms of any Lessor
Nondisturbance Agreement, each Sublease shall provide that: (a) such
Sublease is expressly subject and subordinate to this Lease and is for a term
or terms not longer than the Term hereof, including all Renewal Terms which
have been exercised; and (b) such sublessee shall be obligated, upon a termination of this Lease, at Lessor’s written
election, to attorn to and recognize Lessor as the lessor under such Sublease,
whereupon such Sublease shall continue as a direct lease between the sublessee
and Lessor upon all the terms and conditions of such Sublease.

SECTION
16.3.  Sublessee Nondisturbance Agreements.  With respect to a Sublease in
compliance with Section 16.2, Lessor agrees to enter into a nondisturbance
agreement in the form of Exhibit C or in such other form as shall be
agreeable to Lessee, Lessor and such sublessee (a “Lessor Nondisturbance
Agreement”), if the following terms and conditions are satisfied:

(a)           at
the time of the request for the Lessor Nondisturbance Agreement, Lessee has a
Minimum Rating;

(b)           at the
time of the request for such non-disturbance agreement, the proposed sublessee
or (any guarantor of sublessee’s obligations under the Sublease) has either: 

(i)            a Minimum Rating or 

(ii)           a net worth not less than five (5) times the present
value, using a ten percent (10%) discount rate, of the scheduled base rents
payable under the Sublease for the entire term thereof (including renewals
exercisable at the sublessee’s option (which renewals, if they are at fair
market value (rather than a fixed amount), shall be assumed for purposes of
this clause (ii) to be at the last specified base rent);

(c)           the
Sublease shall reflect market terms and contain provisions that are customary
in the Suffolk County, Long Island market (which may be conclusively evidenced by
a letter from a licensed real estate broker with at least ten (10) years’
commercial office leasing experience) and shall provide for net base rent that
(on a rentable-square-foot basis) is not less than the Base Net Rent payable by
Lessee hereunder and such net rent shall not be paid more than one month in
advance; 

(d)           the
sublessee will agree to execute and deliver the form attached as Exhibit C
hereto; and

(e)           the premises demised under the Sublease is not less
than 100,000 rentable square feet.

 

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If Lessor is obligated under this
Section 16.3 to deliver a Lessor Nondisturbance Agreement with respect to a
particular Sublease, then Lessor shall also cause each Mortgagee to execute and
deliver its agreement to be bound by the terms of the Lessor Nondisturbance
Agreement if such Mortgagee or any purchaser at foreclosure or other successor
thereto shall at any time acquire Lessor’s Interests.

SECTION
16.4.  Lessee Reimbursement of Expenses.  Lessee shall pay all actual,
out-of-pocket third-party costs and expenses (including reasonable attorneys’
fees and expenses) incurred by Lessor in connection with the request by Lessee
for a Lessor Nondisturbance Agreement (but in no event more than $5,000 per
Lessor Nondisturbance Agreement, adjusted each September 1 by the percentage
change in the Consumer Price Index from September, 2006.

ARTICLE XVII.

BROKERS

Lessee and Lessor each represents
and warrants that it has had dealings with only Jones Lang LaSalle Americas
Inc. (“Lessee’s Broker”) in connection with the negotiation of this
Lease and it knows of no other real estate broker or agent who is entitled to a
commission in connection with this Lease. 
Any brokerage commission payable to Lessee’s Broker in connection with
this transaction shall be paid by Lessee pursuant to a separate agreement, and
Lessee shall indemnify, defend and hold Lessor harmless from and against all
liabilities arising from any claims by or under Lessee’s Broker in connection
with this Lease.  Lessee and
Lessor shall indemnify, defend and hold the other harmless from and against all liabilities arising from any other
claims of brokerage commissions or finder’s fees based on, respectively, Lessee’s
or Lessor’s dealings or contacts with brokers or agents other than those Lessee’s
Broker or breach of the foregoing representation.

ARTICLE XVIII.

LESSOR’S INSPECTION AND SHOWING THE
PROPERTY

SECTION 18.1. 
Generally.  Upon five
(5) Business Days’ prior notice to Lessee, or at any time in the event of an
emergency (which shall be followed by 24 hours’ notice to Lessee), Lessor
or Mortgagee (and any one or more appraiser, engineering, environmental,
financial or similar advisors of Lessor designated by Lessor) may inspect the Property to review Lessee’s
compliance with the terms hereof, at its own expense and risk, but (i) only in
a manner so as not to interfere in any material respect with the business
operations of Lessee and any other occupant of the Property and (ii) only when
accompanied by a designated representative of Lessee, provided that Lessor or Mortgagee (and the above-described Lessor designees)
may not inspect any areas where proprietary or
confidential information of Lessee or any other Person is retained unless steps
can be taken to protect such confidentiality without any unreasonable burden to
Lessee or such other Person, and Lessee has been afforded a reasonable
opportunity to take such steps.

 

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SECTION 18.2.  No
Duty to Inspect.  Lessor shall have no duty to make any
inspection of the Property, and Lessor shall not incur any liability or
obligation by reason of not making any such inspection.

SECTION
18.3.  Showing.  During the eighteen (18) months prior to the
end of the Initial Term and during the twelve (12) months prior to the end of
any Renewal Term, Lessor may show the Property to prospective tenants or
purchasers at such reasonable times during normal business hours upon
reasonable prior notice to Lessee, provided
that Lessor shall comply with the terms as are applicable to inspections under
Section 18.1.

ARTICLE XIX.

DEFAULTS; REMEDIES

SECTION
19.1.  Event of Default.  The following events shall constitute “Events
of Default”:

(a)           Lessee’s
failure to pay Base Net Rent when due which continues for five (5) Business
Days after written notice from Lessor (provided
Lessor shall not be required to give such notice more than twice in any twelve
(12) month period);

(b)           Lessee’s
failure to pay Supplemental Rent representing Covered Taxes when due such that
the same are delinquent and such failure continues for five (5) Business Days
after notice from Lessor;  Lessee’s
failure to pay when due and payable Supplemental Rent representing insurance
premiums such that the related insurance coverage would lapse within ten (10)
days as a result of such failure and such failure continues for two (2) Business
Days after written notice from Lessor; or Lessee’s failure to pay when due and
payable Supplemental Rent not otherwise described above in this Section 19.1(b)
and payable to Lessor which failure continues for ten (10) Business Days after
written notice from Lessor;

(c)           Lessee
shall default in any respect in any other obligation under this Lease and such
default continues for thirty (30) days after written notice from Lessor; provided that the continuation of such
default for thirty (30) days or longer after such notice shall not constitute
an Event of Default if (i) such default cannot reasonably be cured within such
thirty (30) day period, and (ii) Lessee is diligently prosecuting such cure;

(d)           There
shall have been a material breach of warranty or misrepresentation made by
Lessee herein and the same shall have not been cured within thirty (30) days
after notice thereof from Lessor, provided that
the failure to effect such cure within said thirty (30) day period shall not
constitute an Event of Default if (i) such cure cannot reasonably be cured
within such thirty (30) day period, and (ii) Lessee is diligently prosecuting
such cure;

(e)           Lessee shall admit, in writing, that it is unable to
pay its debts as such become due;

 

 26
 

 

 

(f)            Lessee
shall make a general assignment for the benefit of creditors;

(g)           Lessee
shall file a voluntary petition under Title 11 of the United States Code, or if
such petition is filed against it and an order for relief is entered, or if
Lessee shall file any petition or answer seeking, consenting to or acquiescing
in any reorganization, arrangement, composition, other present or future
applicable federal, state or other statute or law, or shall seek or consent to
or acquiesce in the appointment of any trustee, receiver, custodian, assignee,
sequestrator, liquidator or other similar official of Lessee, or of all or
substantially all of its properties;

(h)           within
ninety (90) days after the commencement of any proceeding against Lessee
seeking any reorganization, arrangement, composition, readjustment,
liquidation, dissolution or similar relief under the Bankruptcy Code or any
other present or future applicable state or other statute or law, such
proceeding shall not have been dismissed or stayed; or

(i)            within
ninety (90) days after the appointment, without the consent or acquiescence of
Lessee, of any trustee, receiver, custodian, assignee, sequestrator, liquidator
or other similar official of Lessee or of all or substantially all or of its
properties, such appointment shall not have been vacated or stayed on appeal or
otherwise, or if, within thirty (30) days after the expiration of any such
stay, such appointment shall not have been vacated.

SECTION
19.2.  Remedies.  Upon the occurrence and continuation of an
Event of Default, Lessor may, at its option, by notice to Lessee declare this
Lease to be in default and do one or more of the following as Lessor in its
sole discretion shall determine:

(a)           Lessor
may, by notice to Lessee, terminate this Lease as of the date specified in such
notice; however no reletting, reentry or taking of possession of the Property
by Lessor will be construed as an election on Lessor’s part to terminate this
Lease unless a written notice of such intention is given to Lessee.

(b)           Lessor may (i) demand that Lessee, and Lessee shall
upon the written demand of Lessor, return the Property promptly to Lessor in
the manner and condition required by, and otherwise in accordance with all of
the provisions of, Article XIII as if the Property were being returned at the
end of the Term, and Lessor shall not be liable for the reimbursement of Lessee
for any costs and expenses incurred by Lessee in connection therewith and (ii)
without prejudice to any other remedy which Lessor may have for possession of
the Property, enter upon the Property and take immediate possession of (to the
exclusion of Lessee) the Property and expel or remove Lessee and any other
person who may be occupying the Property (subject to the terms of any Lessor
Nondisturbance Agreement), by summary proceedings or otherwise, all without
liability to Lessee for or by reason of such entry or taking of possession,
whether for the restoration of damage to property caused by such taking or
otherwise and, in addition to Lessor’s other damages, Lessee shall be
responsible for the reasonable costs and expenses of reletting, including
brokers fees and the costs of any repairs made by Lessor.

 

 27
 

 

 

Lessee, whether or not the Property
or any portion thereof shall have been re-let, shall be liable to Lessor for,
and shall pay to Lessor, as current damages, the Rent and other charges payable
hereunder for the remainder of the Term, less the net proceeds, if any, of any
re-letting of the Property, after deducting all reasonable expenses in
connection with such re-letting, including (in each case to the extent
reasonable and related to such re-letting) all repossession costs, brokerage
commissions, legal expenses, attorneys’ fees, advertising costs, expenses of
employees, alteration costs and expenses of preparation for such re-letting
(except to the extent otherwise paid by Lessee).  Lessee shall pay such current damages to
Lessor monthly on the days on which the Base Net Rent would have been payable
hereunder if this Lease had not been terminated.  Upon Lessor’s repossession of the Property,
Lessor shall use reasonable efforts to mitigate its damages by re-letting the
Property and, without limitation of the foregoing, shall consider in good faith
re-letting opportunities presented to Lessor by or on behalf of Lessee or third
parties.

(c)           Lessor
may, whether or not Lessor shall have exercised or shall thereafter at any time
exercise any of its rights under Section 19.2(b), demand, by written notice to
Lessee specifying a date (the “Final Payment Date”) not earlier than twenty
(20) days after the date of such notice, that Lessee pay to Lessor, and Lessee
shall pay to Lessor, on the Final Payment Date, as liquidated damages for loss
of a bargain and not as a penalty (the parties agreeing that Lessor’s actual
damages would be difficult to predict, but the aforementioned liquidated
damages represent a reasonable approximation of such amount), in lieu of Base
Net Rent due on and after the Final Payment Date, an amount equal to the sum of
(A) all Rent due and unpaid as of the Final Payment Date, plus (B) an amount
equal to the excess, if any, of the present value, as of the Final Payment
Date, of the Base Net Rent and Supplemental Rent for the balance of the Term
without regard to the early termination of the Lease (discounted on a
semi-annual basis of 7 percent per annum) over the present value of the Fair
Market Rental Value of the Property for that same period (using the same
discount rate). Upon such payment, this Lease and Lessee’s obligations
hereunder shall terminate.

(d)           Lessor
may exercise any other right or remedy that may be available to it under
Applicable Laws and Restrictions or in equity, or proceed by appropriate court
action (legal or equitable) to enforce the terms hereof or to recover damages
for the breach hereof.  Separate suits
may be brought to collect any such damages for any period or periods with
respect to which rent shall have accrued, and such suits shall not in any
manner prejudice Lessor’s right to collect any such damages for any subsequent
period, or Lessor may defer any such suit until after the expiration or earlier
termination of the Initial Term or the then current Renewal Term, in which
event such suit shall be deemed not to have accrued until the expiration or
earlier termination of the Initial Term, or the then current Renewal Term.

SECTION 19.3. 
Survival of Lessee’s Obligations.
 No
repossession of any of the Property or exercise of any remedy under Section
19.2, including termination of this Lease, shall, except as specifically
provided therein, relieve Lessee of any of its liabilities and obligations
hereunder, including the obligation to pay Base Net Rent.  In addition, except as specifically provided
therein, Lessee shall be liable, except as otherwise

 

 28
 

 

 

provided above, for any and all
unpaid Rent due hereunder before, after or during the exercise of any of the
foregoing remedies, including all reasonable legal fees and other costs and
expenses incurred by Lessor by reason of the occurrence of any Event of Default
or the exercise of Lessor’s remedies with respect thereto, and including all
costs and expenses incurred in connection with the return of the Property in
the manner and condition required by, and otherwise in accordance with the
provisions of, Article XIII as if such Property were being returned at the end
of the Term.

SECTION
19.4.  Right of Lessor to Perform for Lessee.

(a)           If
Lessee shall fail to perform or comply with any of its agreements contained
herein such that the same constitutes an Event of Default, then Lessor may, on
five (5) Business Days’ prior notice to Lessee, perform or comply with such
agreement, and Lessor shall not thereby be deemed to have waived any default
caused by such failure, and the amount of payment required to be made by Lessee
hereunder and made by Lessor on behalf of Lessee, and the reasonable
out-of-pocket costs and expenses of Lessor (including reasonable attorneys’
fees and expenses) incurred in connection with the performance of or compliance
with such agreement, as the case may be, together with interest thereon at the
Stipulated Rate from and including the later of the date such sums were
expended by Lessor and the date that demand for repayment thereof is made of
Lessee to and excluding the date paid by Lessee.

(b)           Without
limiting Lessor’s rights under Section 19.4(a), if Lessor shall have received
notice from Lessee’s insurer that continued nonpayment of the Insurance
Premiums will result in the cancellation of the
related insurance coverage within ten (10) days, and Lessee shall have failed
to provide Lessor with reasonable evidence of the payment of such Insurance
Premium within two (2) Business Days after
Lessor’s request therefor from Lessee, or if Lessee shall have defaulted in its
obligation under Section 12.2 to provide Lessor with evidence of the renewal of
its required insurance coverage then due and payable and such default shall continue for two (2) Business
Days after Lessor’s notice thereof to Lessee, then Lessor may pay the Insurance
Premiums for such insurance and Lessee shall be
obligated to reimburse Lessor for the same, together with interest thereon at
the Stipulated Rate from and including the later of the date such premiums were
paid for by Lessor and the date that demand for repayment thereof is made by
Lessor of Lessee to and excluding the date paid by Lessee.

(c)           Without
limiting Lessor’s rights under Section 19.4(a), if Lessee shall have failed to
comply with its obligations under Section 20.2(e) to provide Lessor with
evidence of the payment of Covered Taxes prior to the date that the same are
deemed delinquent by the appropriate Taxing Authorities, and such failure
continues for more than two (2) Business Days after notice from Lessor, then
Lessor may pay such Covered Taxes and Lessee shall be obligated to reimburse
Lessor for the same, together with interest thereon at the Stipulated Rate from
and including the later of the date such costs were paid for by Lessor and the
date that demand for repayment thereof is made by Lessor of Lessee to and
excluding the date paid by Lessee.

 29

 

 

(d)           Amounts
payable by Lessee under the above provisions of this Section 19.4 shall be
Supplemental Rent. Lessor shall provide Lessee with prompt notice of Lessor’s
taking any action pursuant to Section 19.4(a), (b) or (c).

SECTION
19.5.  Right of Lessee to Perform for Lessor.  If Lessor shall fail to perform or
comply with any of its agreements contained herein and such failure shall
continue for thirty (30) days after notice thereof from Lessee, then Lessee
may, on five (5) Business Days’ prior notice to Lessor, perform or comply with
such agreement, and Lessee shall not thereby be deemed to have waived
any default caused by such failure, and the amount of payment required to be
made by Lessor hereunder and made by Lessee on
behalf of Lessor, and the reasonable out-of-pocket costs and expenses of Lessee
(including reasonable attorneys’ fees and expenses) incurred in connection with
the performance of or compliance with such agreement, as the case may be,
together with interest thereon at the Stipulated Rate from and including the
later of the date such sums were expended by Lessee and the date that demand
for payment thereof is made of Lessor to and excluding the date paid, shall be
due and owing to Lessee on demand.  Without
limiting the generality of the foregoing, if Lessor is obligated hereunder
(including under Section 25.18) to execute or deliver to Lessee any document,
agreement, instrument, pleading, application or other writing of any sort, and
Lessor shall have failed to do so for ten (10) days after Lessee’s written
request therefor, then, on five (5) Business Days’ notice to Lessor with
specific reference to this Section 19.5, Lessee shall have the power and
authority, as Lessor’s attorney-in-fact, to execute and deliver the same in the
name and stead of Lessor, which power and authority are hereby irrevocably
granted (pursuant to a grant coupled with an interest).

SECTION
19.6.  Lessor Reasonableness Resolved by Arbitration.  Lessee may
submit to the Arbitration Procedure for resolution any dispute between Lessee
and Lessor as to whether Lessor shall have unreasonably withheld, delayed or
conditioned its consent or approval in an instance in which this Lease provides
for Lessor to grant or withhold consent or approval in a reasonable manner.

SECTION
19.7.  No Punitive, Consequential or Indirect Damages.  No party
shall be liable hereunder or in connection herewith for any punitive,
consequential or indirect damages and any claim therefor is hereby waived.

SECTION 19.8. 
Remedies Cumulative; No Waiver;
Consents.  To the extent permitted by, and subject to
the mandatory requirements of, Applicable Laws and Restrictions, each and every
right, power and remedy specifically given to a party in this Lease or
otherwise available to such party shall be cumulative and shall be in addition
to every other right, power and remedy herein specifically given or now or
hereafter existing at law, in equity or by statute, and each and every right,
power and remedy whether specifically herein given or otherwise existing may be
exercised from time to time and as often and in such order as may be deemed
expedient by such party, and the exercise or the beginning of the exercise of
any power or remedy shall not be construed to be a waiver of the right to
exercise at the same time or thereafter any other right, power or remedy.  No delay or omission by a party in the
exercise of any right, power or remedy or in the pursuit of any remedy shall
impair any such right, power or remedy or be

 

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construed to be a waiver of any
default on the part of the other party or to be an acquiescence therein.  A party’s consent to any request made by the
other party shall not be deemed to constitute or preclude the necessity for
obtaining such party’s consent, in the future, to all similar requests.  No express or implied waiver by a party of
any default on the part of the other party shall in any way be, or be construed
to be, a waiver of any future or subsequent default on the part of such other
party.

SECTION
19.9.  Attorneys’ Fees.  In the event that either Lessor or Lessee
fails to perform any of its obligations under this Lease or in the event a
dispute arises concerning the meaning or interpretation of any provision of
this Lease, the defaulting party or the party not prevailing in such dispute,
as the case may be, shall pay any and all costs and expenses incurred by the
other party in enforcing or establishing its rights hereunder, including court
costs, costs of arbitration and reasonable attorneys’ fees (subject to the
final sentence of the definition of “Arbitration Procedure”).

SECTION
19.10.  Lessor Right to Request Escrows During Continuance of Event of Default.  During the
continuance of an Event of Default, Lessee, on not less than ten (10) Business
Days’ notice from Lessor, shall make deposits to a trust account at a Qualified
Depositary on a monthly basis of 1/12th of the annual amount for which
Lessee is obligated hereunder on account of Covered Taxes and premiums to
purchase the insurance required under Article XII. For so long as Lessee makes
such deposits, Lessor shall be responsible for applying the same to the payment
of Covered Taxes and such insurance, and Lessee shall be relieved of its
obligations hereunder in respect thereof. 
Within ten (10) Business Days after an Event of Default shall no longer
be continuing, Lessor shall cause such deposited amounts, less any portion
thereof applied to the payment of Covered Taxes and insurance premiums in
accordance with the foregoing, to be returned to Lessee.   As used herein, “Qualified Depositary”
shall mean a national or state bank selected by Lessor and having a Standard
and Poor’s long-term unsecured credit rating of not less than “A” by
S&P and a short-term unsecured debt
obligation or commercial paper rating of not less than “A-1” by S&P.

ARTICLE XX.

INDEMNITIES

SECTION
20.1.  General Indemnification.

(a)           Lessee agrees to assume liability for, and to
indemnify, protect, defend, save and keep harmless Lessor and Mortgagee, and
their respective managers, members, partners, officers, employees and directors
(collectively, “Indemnitees”) from and against any and all Claims that
may be imposed on, incurred by or asserted against the Indemnitees, arising out
of the operation, possession, use, maintenance, repair or alteration of the Property
or this Lease prior to or during the Term, including any strict liability under
Applicable Laws and Restrictions and including Environmental Laws or the breach
of Lessee’s obligations hereunder; including Claims arising prior to or during
the Term with respect to:

 

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(i)            any injury to, or the death of, any Person or any
damage to or loss of property, 

(ii)           the use, nonuse, occupancy, construction, repair or
rebuilding of the Property (or adjoining property, to the extent that any loss
or damage to adjoining property arises from or out of the Property),

(iii)          the condition of the Property, 

(iv)          violation by Lessee or any of its Affiliates or any
assignee or sublessee of any provision of this Lease, or of Applicable Laws and
Restrictions, 

(v)           any contest by Lessee under Section 10.1, and

(vi)          the breach of any representation, warranty or
covenant of Lessee in this Lease, 

provided that Lessee shall not be required to indemnify any
Indemnitee under this Section 20.1 for any of the following: (1) any Claim to
the extent attributable to acts or events which occur after the later of (a)
the expiration or earlier termination of the Term and (b) the date on which
possession of the Property has been returned to Lessor, (2) any Claim to the
extent resulting from the willful misconduct or gross negligence of any
Indemnitee, its agents, employees or Affiliates, (3) any expense expressly
provided under this Lease to be paid or borne by a party other than Lessee, (4)
any Claim to the extent resulting from a transfer by any Indemnitee or any
Affiliate of all or part of its direct or indirect interest in this Lease or
the Property, (5) any Claim to the extent resulting from a material breach or
violation by Lessor or its agents, employees or Affiliates of any of Lessor’s
representations, warranties or covenants in this Lease or from a violation of
Applicable Laws and Restrictions by any Indemnitee or its agents, employees or
Affiliates not required to be complied with by Lessee hereunder, (6) any Claims
in respect of Taxes (which shall be covered to the extent, but only to the
extent, provided for in Section 20.2), (7) without limiting immediately
preceding clause (6), any Claim in respect of any real estate mortgage
investment conduit (REMIC)-related or grantor trust-related excise, income or
other taxes, or (8) any Claim for losses to the extent based on the inability
to invest in another transaction or use for any other purpose the funds
invested in connection with the transactions contemplated hereby.  Lessee shall be entitled to credit against
any payments due under this Section 20.1 any insurance recoveries or other
reimbursements actually received by any Indemnitee in respect of the related
Claim under or from insurance paid for by Lessee or assigned to Lessor by Lessee.

(b)           In
case any Claim (including any threatened Claim) shall be made or brought
against any Indemnitee, such Indemnitee shall give prompt notice thereof to
Lessee. Lessee shall be entitled, at its expense, acting through counsel
selected by Lessee, to participate in, and, to the extent that Lessee desires
to and provided no Event of Default exists, assume and control the negotiation,
litigation and/or settlement

 

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thereof; provided, no such settlement shall subject any Indemnitee to
criminal liability or, without the prior consent of the Indemnitee, obligate
the Indemnitee for the payment of any expense unless the same is being paid by
Lessee.  Such Indemnitee may participate
in a reasonable manner at its own expense and with its own counsel in any proceeding
conducted by Lessee in accordance with the foregoing. If Lessee shall defend an
Indemnitee in any such suit or proceeding, then Lessee shall not be obligated
to reimburse such Indemnitee for the its attorneys’ fees or expenses incurred
in connection with such suit or proceeding; provided that,
if in the written opinion of counsel to such Indemnitee an actual or potential
material conflict of interest exists such that such Indemnitee must be
represented by separate counsel and such Indemnitee informs the Lessee that
such Indemnitee desires to be represented by separate counsel, the reasonable
fees and expenses of any such separate counsel shall be borne by Lessee; provided  further, in no
event shall Lessee be obligated to pay for more than one separate counsel for
all Indemnitees. 

(c)           Each
Indemnitee shall at Lessee’s expense supply Lessee with such information and
documents reasonably requested by Lessee and within such Indemnitee’s control
in connection with any Claim for which Lessee may be required to indemnify such
Indemnitee under this Section 20.1.  An
Indemnitee shall not enter into any settlement or other compromise with respect
to any Claim for which indemnification is required under this Section 20.1
without the prior written consent of Lessee. Lessee will not settle any Claim
on a basis that (x) admits any criminal violation, gross negligence or willful
misconduct on the part of an Indemnitee without such Indemnitee’s prior written
consent, (y) creates a material risk of the sale, loss, or forfeiture of the
Property or (z) impairs in any way the payment of Base Net Rent or Supplemental
Rent or gives rise to the creation of any Lien with respect to the Property.

(d)           Upon
final settlement and payment of any Claim by Lessee pursuant to this Section
20.1 to or on behalf of an Indemnitee, Lessee, without any further action,
shall be subrogated to any and all claims that such Indemnitee may have
relating thereto (other than claims in respect of insurance policies maintained
by such Indemnitee at its own expense), and such Indemnitee shall execute and
deliver to Lessee such instruments of assignment and conveyance, evidence of
claims and payment and other documents, instruments and agreements as may be
necessary or appropriate to preserve any such claims and otherwise cooperate
with Lessee and give such further assurances as are necessary or advisable to
enable Lessee vigorously to pursue such claims.

(e)           Any
amount payable to such Indemnitee pursuant to this Section 20.1 shall be paid
within thirty (30) days after written demand therefor from such Indemnitee
together with a written statement describing the basis for such indemnity, the
computation of the amount so payable and such additional information as Lessee
may reasonably request and which is reasonably available to such Indemnitee to
substantiate properly the requested payment.

(f)            Notwithstanding anything to the contrary contained in
this Lease, Lessee shall have no liability to any Indemnitee to the extent that
such liability derives (directly or indirectly) from a contractual indemnity
given by such Indemnitee to

 

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any other Person, other than a
member, manager, partner, officer, director or employee of such Indemnitee, in
such person’s capacity as such.

(g)           With
respect to any Indemnitee not a party to this Lease, Lessee may require such
Indemnitee to acknowledge the terms and conditions hereof agree in writing, in
a form reasonably acceptable to Lessee, to the terms of this Section 20.1,
before making any payment to such Indemnitee under this Section 20.1.

SECTION
20.2.  Taxes.

(a)           Lessee shall pay and be responsible for all Covered
Taxes through the expiration of the Term before fines, interest or penalties are due thereon.

(b)           Lessor
shall cooperate with Lessee so that all bills and notices relating to Covered
Taxes from any Taxing Authority and any other correspondence from any Taxing
Authority relating to such Covered Taxes are delivered by such Taxing Authority
directly to Lessee at the address set forth in herein for the giving of notices
to Lessee or such other address as Lessee shall advise Lessor from time to
time.  Payment of Covered Taxes shall be
made directly to the authority making such levy, and, if Covered Taxes may be
paid in installments, Lessee may do so. 
To the extent any Covered Taxes are due and payable for a taxable year
during the Term, they shall be paid by Lessee; but to the extent such Covered
Taxes are attributable to a period subsequent to the Term, then, unless Lessee
acquires the Property, Lessor shall reimburse Lessee for such payment.  Covered Taxes attributable to the Property
for the period after the termination of this Lease shall be the sole
responsibility of Lessor.  Lessee shall prepare
and file all tax reports required by governmental authorities which relate to
the Covered Taxes (provided Lessor shall cooperate with Lessee at Lessee’s
expense in connection therewith to the extent Lessee reasonably requires such
cooperation).  Lessee shall have the
exclusive right to control all administrative or judicial proceedings in
connection with Covered Taxes, including any increase in the real property
assessed value of the Property, at its sole discretion and at its own expense,
and, subject to the last two (2) sentences of this Section 20.2(b), to settle
or compromise the same in its sole discretion. 
Lessor agrees to execute all necessary powers of attorney and otherwise
authorize Lessee to take control of such proceedings, as required under
Applicable Laws and Regulations.  Lessor
may participate, as an observer only, at its own expense in any such
administrative or judicial proceeding. 
Lessee shall not compromise or settle the assessed value for the
Property for any year after the expiration of the Term or compromise or settle
Covered Taxes for any year after the expiration of the Term, in either case
without the consent of Lessor, which consent may be given or withheld in Lessor’s
discretion.  Notwithstanding anything to
the contrary in this Lease, Lessee shall not be responsible for any payment of
interest or penalties imposed by any taxing authority in connection with any
Covered Taxes if such interest or penalties are imposed as a result of Lessor’s
gross negligence, willful misconduct or failure to timely send any notice,
assessment or bill to Lessee which is actually received by Lessor and not by
Lessee, in which case Lessor shall be responsible for such interest and penalty
amounts. 

 

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(c)           Prior to Lessee’s first payment to Lessor of Base Net
Rent, Supplemental Rent or any other amount payable hereunder, and at any time
thereafter upon Lessee’s reasonable request, Lessor shall furnish Lessee (i)
either (a) a properly completed and executed Internal Revenue Service Form W-9
(or its successor form) showing the United States taxpayer identification
number of Lessor and indicating that Lessor is a United States person within
the meaning of Section 7701(a)(30) of the Code and not subject to backup
withholding or (b) a properly completed and executed Internal Revenue Service
Form W-8BEN or W-8ECI (or their respective successor forms) indicating that
Lessor is exempt from non-resident withholding tax with respect to such
payments or (c) if Lessor cannot properly execute any of Internal Revenue Forms
W-9, W-8BEN or W-8ECI, any other applicable Internal Revenue Service Form  or Forms indicating that Lessor is exempt
from non-resident withholding tax with respect to such payments and (ii) any
other tax certification that Lessee may reasonably request, indicating that
Lessor is exempt from backup withholding, non-resident withholding tax and any
similar withholding tax under any state, local or foreign tax laws with respect
to such payments with respect to which Lessee would have an obligation to
withhold amounts absent such tax certification. 
If Lessor fails or is unable to provide any of the forms Lessor is
required to provide pursuant to this Section 20.2(b), Lessee may deduct from
any amount of Base Net Rent or Supplemental Rent the amount of backup
withholding or non-resident withholding that Lessee is required to withhold
under Chapter 1, 3 and 24 of the Code and any similar provisions of state,
local or foreign tax laws.

(d)           If Lessor or any Affiliate thereof shall receive a
refund of, or receive a credit for (or would have received such a refund or
credit but for a counterclaim or other claim not indemnified by Lessee
hereunder (a “deemed refund or credit”)) all or any part of any Taxes
paid, reimbursed or advanced by Lessee, Lessor shall pay to Lessee within
thirty (30) days of such receipt (or, in the case of a deemed refund or credit,
within thirty (30) days of the resolution of such contest), an amount equal to
the amount of such refund or credit or deemed refund or credit, together with
any interest actually received by Lessor. 

(e)           Upon request, Lessee shall provide Lessor with such
proof of payment of such Tax as is reasonably acceptable to Lessor.  Any amount payable to Lessor pursuant to this
Section 20.2 shall be paid within thirty (30) days after receipt of a written demand
therefor from Lessor accompanied by a written statement describing in
reasonable detail the amount so payable, but not before the date such Tax is
due.  Any amount payable under this
Section 20.2 shall constitute Supplemental Rent, and any amount payable to
Lessor under this Section 20.2 that is not paid when due shall bear interest at
the Stipulated Rate.

(f)            Lessor
agrees to furnish to Lessee from time to time, at the written request and
expense of Lessee, such duly executed and properly completed forms as may be
necessary or appropriate in order to claim any reduction of or exemption from
any withholding or other Tax imposed by any taxing authority in respect of any
payments otherwise required to be made by Lessee, as the case may be, pursuant
to this Lease, which reduction or exemption is available to Lessor.

 

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(g)           If any report, return or statement (a “Filing”)
is required to be filed with respect to any Covered Tax, Lessee shall as soon
as practical notify Lessor of such requirements in writing and, if permitted by
Applicable Laws and Restrictions to do so, Lessee shall timely file such Filing
with respect to such Tax (except for any such Filing that Lessor has notified
Lessee in writing that Lessor intends to file) and will (if ownership of the
Property or any portion thereof is required to be shown on such Filing) show
the ownership of the Property in the name of the Lessor and send a copy of such
Filing (and proof of payment) to Lessor, provided
that Lessor shall have furnished Lessee, at Lessee’s request in writing and
expense, with such information, not within the control of (or otherwise
reasonably available to) Lessee, as is in Lessor’s control or is reasonably
available to Lessor and necessary to file such Filing.  If Lessee is not permitted by Applicable Laws
and Restrictions to file any such Filing, Lessee will promptly notify Lessor of
such requirement in writing and prepare and deliver to Lessor proposed form of
such Filing, within a reasonable time, and in all events at least ten (10) days
prior to the time such Filing is required to be filed, unless Lessor has
notified Lessee that it reasonably requires such filing to be received before
such time.  Lessee shall furnish such
information as Lessor may reasonably require to comply with the requirements of
any taxing jurisdiction.

ARTICLE
XXI.

MERGER OF LESSEE

Lessee shall not consolidate with or merge into any other Person where
Lessee is not the surviving Person, or sell, convey, transfer or lease all or
substantially all its assets, unless the successor Person formed by such consolidation
or into which Lessee shall be merged or the Person that shall acquire by sale,
conveyance, transfer or lease all or substantially all the assets of Lessee
shall assume in writing all of the obligations of Lessee hereunder and as of
the effective date of such consolidation, merger, sale, conveyance, transfer or
lease, no Event of Default arising from a failure to pay Base Net Rent or
Supplemental Rent, and no other material Event of Default, shall have occurred
and be continuing.  Upon any such consolidation
or merger, or any sale, conveyance, transfer or lease of substantially all the
assets of Lessee in accordance with this Article XXI, the successor Person
formed by such consolidation or into which Lessee shall be merged or to which
such sale, conveyance, transfer or lease shall be made shall succeed to, and be
substituted for, and may exercise every right and power of, Lessee under this
Lease.

ARTICLE
XXII.

LESSEE FINANCIAL INFORMATION

During any period when Lessee is not
listed on a nationally recognized public stock exchange with certified
financial statements on file with the Securities and Exchange Commission,
Lessee shall, within thirty (30) days after requested by Lessor from time to
time (but not more often than quarterly), deliver to Lessor Lessee’s most
recent financial statements in the form used by Lessee in the normal course of
its business and prepared in accordance with generally accepted accounting
principles (including, to the extent such items are available, balance sheets
and income and loss

 

 36
 

 

 

statements for Lessee’s most recent full and partial fiscal year preceding
such request), certified to be complete and accurate in all material respects
by Lessee’s chief financial officer (or his or her authorized delegate)
together with (for Lessee’s annual year-end financial statements)  an audit letter of an independent certified
public accountant.

ARTICLE
XXIII.

LESSOR’S COVENANTS AND AGREEMENTS

SECTION 23.1. 
Discharge of Lessor Liens.  Lessor will
not create, permit or suffer to exist at any time, and will at its own cost and
expense promptly take such action as may be necessary duly to discharge, or to
cause to be discharged, all Lessor Liens (other than any Mortgage in respect of
which this Lease is senior or is subordinate pursuant to a Mortgagee
Nondisturbance Agreement).

SECTION 23.2. 
Special-Purpose Provisions.  Lessor shall
perform and comply with each of the terms and conditions set forth in Schedule
23.2 (the “Special-Purpose Covenants”).

SECTION 23.3. 
Restrictions on Transfer of Lessor’s
Interests.

(a)           Lessor shall not assign, convey or otherwise transfer
all or any part of the Lessor’s Interests, or (except as permitted under
Section 23.3(d)) permit or suffer any direct or indirect transfer of interests
in Lessor or this Lease or any other document relating to any of the foregoing,
or interest therein, except as and to the extent permitted by, and in
accordance with the terms and conditions of, Section 23.3(b).  Any transfer in violation of this Section
23.3 shall be void. As used herein, the issuance of new ownership interests
(direct or indirect) in Lessor or any direct or indirect owner of Lessor or any
lease or “sandwich” lease of the Property or any other transaction treated as a
sale of the Property for United States federal income tax purposes shall be
prohibited hereunder unless and except to the extent permitted in Section
23.3(d).

(b)           Permitted Transfers.  Subject to the terms of Section
23.3(d), the holder of any direct or indirect interest in Lessor may transfer
all of such holder’s interests in Lessor and Lessor may transfer the Lessor’s
Interests, this Lease and the other documents relating thereto, on the
following terms and conditions (each of which shall be satisfied prior to the
effective date of the transfer):

(i)            If
such transfer is a transfer by Lessor of Lessor’s Interests,

(A)          Lessor shall have complied with Section 23.4, to the
extent applicable;

(B)           the transferee must be a Person that will satisfy the
Special-Purpose Covenants and as to which each of the representations and
warranties set forth herein (the “Covenants and Obligations of Lessor”)
shall be true with such modifications as may be appropriate to reflect the
identity of the Lessor without any material

 

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adverse
effect on Lessee (and the transferee shall make such representations and
warranties to Lessee immediately prior to the effectiveness of the closing of
such transfer);

(C)           the transferee shall enter into an agreement in form
and substance reasonably satisfactory to Lessee assuming all of the transferor’s
obligations under this Lease and, if such transfer is of the Remainder
Interest, the transferor’s obligations under the Recognition Agreement); and

(D)          the transferee shall be a “United States person” as
such term is defined in Section 7701(a)(30) of the Code and the applicable
regulations thereunder and shall have delivered to Lessee completed and
executed forms required under Section 20.2(b).

(ii)           no
such transfer shall cause Lessor to be a CA Competitor or an Affiliate of a CA
Competitor;

(iii)          such
transfer shall be in compliance with Applicable Laws and Restrictions and shall
not create a relationship which would violate Applicable Laws and Restrictions;

(iv)          subject
to Section 23.3(f), the transferor shall have given at least fifteen (15) days’
prior notice (or, in the case of a Related Party Transfer (as defined below),
ten (10) days’ prior notice) to Lessee of such transfer, which notice shall
contain such information and evidence as shall be reasonably necessary to
establish compliance with this Section 23.3 (including the name of the proposed
transferee and each of its five percent (5%) (or greater) owners, and the date
on which such transfer is proposed to become effective) and shall be
accompanied by the proposed form of certificate and legal opinion required by
Section 23.3(c)(ix) and the name and address of the transferee for notices;

(v)           (A) neither the transferee nor any Affiliate of the
transferee shall be attempting a merger, acquisition or other takeover of
Lessee which merger, acquisition or other takeover shall not have been approved
by the Board of Directors of Lessee, (B) neither the transferee nor any
Affiliate of the transferee shall be an adverse plaintiff or defendant in any
then existing litigation that, if determined adversely to Lessee, would have a
material adverse effect on Lessee’s financial condition, (C) neither transferee
nor any person who owns a direct or indirect interest in or otherwise controls
the transferee shall be (1) listed on the Specially Designated Nationals and
Blocked Persons List or any other similar list maintained by the Office of
Foreign Assets Control, Department of the Treasury, pursuant to any authorizing
statute, Executive Order or regulation, (2) a “specially designated global
terrorist” or other person listed in Appendix A to Chapter V of 31 C.F.R., as
the same has been from time to time updated and amended, or (3) a person either
(x) included within the term “designated national”

 

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as
defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515 or (y)
designated under Sections 1(a), 1(b), 1(c) or 1(d) of Executive Order No.
13224, 66 Fed. Reg. 49079 (published September 25, 2001) or a person similarly
designated under any related enabling legislation or any other similar Executive
Orders, (D) neither transferee nor any owner of a direct or indirect legal or
beneficial interest in transferee is restricted or prohibited from acquiring
Lessor’s Interests (either directly or indirectly) by any Governmental
Authority, Executive Order of the President of the United States or any rule,
regulation or other promulgation of any Governmental Authority, (E) the
transferee may not consist of tenants-in-common, and (F) no officer, director,
manager or person directly or indirectly controlling Transferee may be a
convicted felon;

(vi)          the
transferor shall pay all reasonable out-of-pocket expenses, disbursements and
costs (including reasonable legal fees and expenses) incurred by Lessee in
connection with such transfer, including all sales and transfer taxes and
recording or filing fees; and

(vii)         the
transferor and the transferee shall each have delivered to Lessee an Officer’s
Certificate to the effect that the conditions to the proposed transfer
prescribed by this Section 23.3 to be met by the transferor or the transferee,
respectively, have been satisfied and the transferee shall have delivered to
Lessee an opinion of the transferee’s counsel, in form and substance,
reasonably satisfactory to Lessee, relating to the due authorization, execution
and delivery and enforceability of the agreement described in 23.2(c)(vi).

(c)           Effect of Transfer.  From and after any transfer
effected in accordance with this Section 23.3, the transferor shall be released
from its liability hereunder in respect of obligations arising on or after the
date of such transfer.  Upon any transfer
by Lessor as above provided, any such transferee shall be deemed the “Lessor”
for all purposes of such documents and each reference herein to Lessor shall
thereafter be deemed a reference to such transferee for all purposes, except as
provided in the preceding sentence.

(d)           The following shall not require compliance with
Section 23.3(b) or 23.4:

(i)            Any
bona fide Mortgage in favor of, and to secure indebtedness owing to, a third
party not an Affiliate of Lessor; or

(ii)           Any
bona fide pledge of,  or grant of a
security interest in, the direct or indirect membership or other economic
interests in Lessor in favor of, and to secure a loan owing to, a third party
not an Affiliate of Lessor (“Mezzanine Financing”).

(e)           Sales,
conveyances and other transfers of all or any portion of the direct and
indirect interests in Lessor shall not require compliance with Section 23.4 if
the same is any one of the following (but any subsequent sale, conveyance or

 

 39
 

 

 

other
transfer shall still require such compliance unless the same is also exempted
under any of the following):

(i)            A
sale, conveyance or other transfer of all or any portion of the direct or
indirect interests in any Multi-Asset Person or an issuance of new ownership
interests (direct or indirect) in any Multi-Asset Person or any merger,
consolidation or sale of all or substantially all of the assets of a
Multi-Asset Person. As used herein, a “Multi-Asset Person” is a Person
whose total consolidated assets (as reflected on its most current audited
financial statements), at the time of the sale or issuance of the interests,
are not less than the product of such Person’s percentage ownership interest in
the Property multiplied by Two Billion Dollars ($2,000,000,000), which amount
shall be increased by the same percentage increase in the Consumer Price Index
from September, 2006; or

(ii)           A
sale, conveyance or other transfer incident to a change in control of a
Multi-Asset Person, or a sale of all or any material portion of a Multi-Asset
Person’s assets or a substantial line of business; provided that
the transferee is (x) the party acquiring control of such Multi-Asset Person
(y) the acquirer of such assets or substantial line of business of such Multi-Asset
Person or (z) the party acquiring such Multi-Asset Person in a reorganized
form;

(iii)          A
transfer in which no more than ten percent (10%) of the beneficial interests in
Lessor are transferred, no current or future rights of control are granted in
connection with such transfer, and subsequent to such transfer, the Person(s)
controlling Lessor shall continue to control Lessor (a “Related Party
Transfer”); provided that there shall have
been no Related Party Transfer in the five-year period preceding such transfer;

(iv)          Any
sale, conveyance or other transfer that does not result in a change in the
beneficial ownership of the Property;

(v)           Any foreclosure, any conveyance or
assignment in lieu of foreclosure, assertion of control or any other possessory
or control remedy exercised by a bona fide third party lender in respect to the
Property or with respect of the direct or indirect membership or other economic
interests in Lessor (each a “Remedy Exercise”); or

(vi)          Any transfer of an indirect interest
in Lessor that is (x) made for estate planning purposes or the result of a
testamentary disposition and (y) to a spouse, child or sibling or a trust
exclusively for the benefit of any of the foregoing, provided
that such transfer complies with Section 23.3(b)(i)(D) and Section 23.3(b)(ii)
through (vii).

(f)            Compliance
with the provisions of Section 23.3(b)(iv) with respect to such Remedy Exercise
shall be excused until five (5) Business Days after such Remedy Exercise.

 

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SECTION 23.4. 
First Offer in favor of Lessee.

(a)           Generally.  Prior to any sale, conveyance or other
transfer of all or any portion of the Property or any direct or indirect,
interest in Lessor, except as provided in Section 23.3(d) and (e) (each such
sale, conveyance or other transfer, except as provided in Section 23.3(d) and
(e), a “Subject Sale”), Lessor will offer the Property to Lessee in
accordance with and subject to the terms and conditions set forth in this
Section 23.4.  No Subject Sale shall be
made other than in accordance with the terms and conditions of this Section
23.4 and any Subject Sale not in accordance with this Section 23.4 shall be
void and of no effect.

(b)           Intentionally Omitted.

(c)           Proposed Sale Notice.

(i)            Prior
to a Subject Sale, Lessor shall give written notice (the “Proposed Sale
Notice”) to Lessee setting forth the price (the “Purchase Price”)
and other material terms (collectively, the “Offer Terms”) on which
Lessor proposes to sell the Property. 
The Proposed Sale Notice shall provide that, at the closing of such proposed
sale, the Purchase Price shall be an “all cash” purchase price (other than the
Deposit which shall be paid as provided below), provided that the Offer Terms may require the assumption of
Lessor’s Mortgage or assumption of the Mezzanine Financing as provided in
clause (iv) below.  The Offer Terms shall
not include any condition or impose any obligations on the purchaser that are
not reasonably susceptible of performance by Lessee (assuming in all cases
sufficient financial capability).

(ii)           Except
to the extent the same would apply to any Third Party Purchaser (as defined
below), Lessor may not send Lessee a Proposed Sale Notice, if the transfer to a
Lessee Purchaser (as defined below) as contemplated by the Proposed Sale Notice
would violate any material agreement to which the Lessor is bound or to which
the Property is subject or where such transfer to, or ownership by, a Lessee
Purchaser would constitute a default thereunder, result in an acceleration of
an obligation thereunder or otherwise materially reduce the direct or indirect
rights and remedies thereunder.

(iii)          Lessor
shall, together with delivery of the Proposed Sale Notice to Lessee, set forth
such due diligence procedures as Lessor in its discretion, subject to Section
23.4(d), elects to implement in connection with the proposed sale (the “Due
Diligence Procedures”). The Due Diligence Procedures shall permit Lessee to
make available to its attorneys, accountants and other representatives such
information and materials as are provided to Lessee to assist it in its due
diligence investigation.

(iv)          The
Offer Terms shall not require the purchaser of the Property (i) to purchase any
assets other than the Property, or (ii) to assume or take the Property subject
to any liabilities other than the Permitted Liens

 41

 

 

(excluding
Lessor’s Liens, other than the Mortgage and the Mezzanine Financing, if so
specified in the Offer Terms (which the purchaser shall either assume or repay
in accordance with its terms so long as the Mortgage and the Mezzanine
Financing shall not preclude Lessee’s assumption of the same in accordance with
the terms thereof in a non-discriminatory manner in respect of Lessee or its
designee in accordance with clause (v) below);

(v)           Lessee
shall have thirty (30) days (the “Election Period”) after the delivery
to Lessee of a Proposed Sale Notice meeting the requirements of this Section
23.4(c) to elect, at its sole option, to accept the offer pursuant to the
Proposed Sale Notice and purchase, or have a designee (Lessee or such designee,
as applicable, the “Lessee Purchaser”) purchase, the Property on the
Offer Terms and in accordance with this Section 24.3. Such election shall be
made, if at all, by giving written notice thereof (the “Exercise Notice”)
to Lessor within the Election Period, together with a deposit equal to five
percent (5%) of the Purchase Price (the “Deposit”) in lieu of the
deposit, if any, specified in the Proposed Sale Notice, which shall be paid in
immediately available federal funds wired to an account designated by an escrow
agent, who shall be at the election of the Lessee (x) any reputable national
title company selected by Lessee or (y) any other Person selected by Lessee and
reasonably acceptable to Lessor (the “Escrow Agent”). The Deposit shall
be held by Escrow Agent pursuant to a form of escrow agreement which shall be
reasonably satisfactory in form and substance to Lessor and Lessee and agreed
to and executed by the Escrow Agent on or prior to the expiration of the
Election Period.

(vi)          If
within the Election Period Lessee gives the Exercise Notice and delivers the
Deposit in the amount and manner described in Section 23.4(c)(v), then such
action shall create a contract (the “Lessor Purchase Agreement”) among
Lessee Purchaser and Lessor pursuant to which the Lessee Purchaser irrevocably
agrees to acquire, and Lessor irrevocably agrees to sell, the Property for the
Purchase Price and on the other Offer Terms specified in the Proposed Sale
Notice. The closing for such sale shall occur on the date which is sixty (60)
days after the delivery to Lessor by Lessee of the Exercise Notice with each
party having the right to adjourn the closing one or more times for up to
thirty (30) days in the aggregate (time being of the essence with respect to
both parties’ obligation to close no more than one hundred and twenty (120)
days from the date of the Exercise Notice). In addition to the Purchase Price
and other terms specified in the Proposed Sale Notice and to the extent not
stated in the Offer Terms, the Lessor Purchase Agreement shall be deemed to
include such other terms as are customary for comparable transactions (the “Other
Terms”). The Lessee Purchaser and Lessor shall negotiate in good faith and
memorialize in binding writing all of the Other Terms within thirty (30) days
after the delivery by Lessor of an effective Exercise Notice.

(d)           Right
to Qualified Sale following failure to exercise right to purchase. If within the Election Period Lessee fails to give
the Exercise Notice or deliver the Deposit in the amount and manner described
in Section 24.3(c)(v) or prior to the

 42
 

 

 

expiration
of the Election Period, or Lessee notifies Lessor that it will not accept the
offer pursuant to the Proposed Sale Notice, then Lessor shall have the right,
at any time and from time to time during the one hundred eighty (180) day
period (the “Initial Period”) commencing on the first day of the earlier
of (i) the expiration of the Election Period or (ii) the date on which Lessee
notifies Lessor that Lessee will not be accepting the offer pursuant to the Proposed
Sale Notice, to enter into an agreement (a “Third Party Purchase Agreement”)
to transfer the Property to a third party (a “Third Party Purchaser”)
for a net effective sale price (taking into account the economic terms), and on
other material terms, that are no less favorable to Lessor than the net
effective sale price (taking into account the economic terms), and the other
material terms, set forth in Lessor’s offer notice to Lessee. If Lessor grants
the Third Party Purchaser due diligence rights in connection with such
purchase, such purchase shall not qualify as a Qualified Sale under Section
23.4(e) below unless such due diligence investigation is conducted in
accordance with procedures which are not materially more favorable than the Due
Diligence Procedures. If such Third Party Purchaser owns an interest in the
Property or a direct or indirect interest in Lessor, then such purchase shall
not qualify as a Qualified Sale unless Due Diligence Procedures afforded Lessee
an opportunity to review such minimal information and materials as a
commercially reasonable seller of the Property would deliver to third party
offeree of the Property. If Lessor enters into a Third Party Purchase Agreement
in accordance with the requirements of this Section 23.4(d) during the Initial
Period, Lessor shall have one hundred twenty (120) days from the execution and
delivery of such Third Party Purchase Agreement (the “Third Party Closing
Period”) to close the sale thereunder substantially in accordance with its
terms.

(e)           Lessee’s failure to give the Exercise Notice and
deliver the Deposit in the amount and manner described in Section 23.4(c)(v),
or Lessee’s notification to Lessor, prior to the expiration of the Election
Period, that it will not accept the offer pursuant to the Proposed Sale Notice,
shall not affect Lessee’s rights under Section 23.4 except with respect to a
Qualified Sale effected by Lessor in accordance with the requirements of
Section 23.4(d) and otherwise such rights of Lessee shall continue in full force
and effect if and when any Lessor elects to sell its interests in the Property.

(f)            Upon request by Lessee, parties to any sale, transfer
or other conveyance in respect of the Property or interests in Lessor shall
provide to Lessee such evidence as Lessee shall reasonably request to evidence
that the same will constitute a Qualified Sale or a transaction not requiring
compliance with Section 23.4 by reason of Section 23.3(d), including transfer
tax returns, closing statements and copies of contracts of sale, all certified
as being true, correct and complete by such parties.

(g)           Each
party shall bear its own legal fees and expenses in connection with any
transaction contemplated by this Section 23.4, and Lessor and Lessee shall each
indemnify the other against any claims for fees and commissions claimed by any
broker whose claim is based upon being retained by or otherwise having dealt
with the indemnifying party.

 43
 

 

 

SECTION 23.5. 
Quiet Enjoyment.  Lessor
represents, warrants and covenants to Lessee that, subject to the terms and
conditions of this Lease, and provided no Event of Default shall have occurred
and be continuing, Lessee shall not be disturbed in its possession of the
Property by Lessor or any other party claiming by, through or under Lessor, and
Lessee shall have the right to peaceably and quietly hold and use the Property
during the Term free from any claim by Lessor or any Person claiming by,
through or under Lessor.

SECTION 23.6. 
Copies of Notices.  Promptly
(and in any event within ten (10) Business Days) after a) Lessor’s
receipt of any notice or b) Lessee’s receipt of
any notice of violations, in each case from any Governmental Authority or third
party with respect to the Property, including any notice under or in respect of
any Applicable Laws and Restrictions, the party receiving such notice shall deliver a copy thereof to the other
party.

SECTION 23.7. 
Matters relating to Remainderman and
Estate for Years Holder; Joinder.

(a)           Remainderman
hereby subjects and subordinates the Remainder Interest and any other estate or
interest which Remainderman may now or hereafter have in or with respect to the
Property to Lessee’s rights and estate under this Lease, such that this Lease
and such rights and estate extend to and encumber the fee simple estate in the
Property and all such other present or future estate or interest of
Remainderman.

(b)           As
long as this Lease remains in full force and effect in accordance with its
terms, Remainderman agrees that the estate and rights of Lessee hereunder shall
not be disturbed, notwithstanding the diminution or termination of the Estate
for Years.

(c)           The
Owner of the Estate for Years and Remainderman each hereby irrevocably directs
Lessee to pay all Rent to be paid to Lessor to or as directed by the Owner of
the Estate for Years until the Estate for Years Expiration Date and thereafter
(subject to any irrevocable direction previously given by the Owner of the
Estate for Years) to or as directed by Remainderman.

(d)           If
any dispute or uncertainty arises as to whether the Owner of the Estate for
Years or Remainderman is entitled to any sum payable by Lessee hereunder,
Lessee will be fully protected upon payment thereof jointly to or for the
account of the Owner of the Estate for Years and Remainderman, or to a court of
competent jurisdiction, until a final order of a court having jurisdiction of
all of the parties orders otherwise.

(e)           Remainderman affirms and agrees that from and after
the Effective Date it is subject to all of the covenants and restrictions
imposed on Lessor under this Lease as fully and completely as if Remainderman
were the sole Lessor.

 44
 

 

 

(f)            Upon the
Estate for Years Expiration Date, Remainderman shall become the sole Lessor
(but the Owner of the Estate for Years shall not thereby be relieved of any
obligation accruing prior to such time) and shall remain obligated to observe
and perform all covenants and obligations of Lessor hereunder, such obligation
shall be automatic and without the need of any further act or deed; provided,
however, that notwithstanding that such obligation is automatic, Remainderman,
upon the Estate for Years Expiration Date, will, promptly following request by
Lessee, execute and deliver to Lessee a confirmation of such obligation.

(g)           Each
of the Owner of the Estate for Years and Remainderman agrees that for any and
all purposes under this Lease, whenever Lessor’s consent, approval or action is
required under this Lease, such consent, approval or action shall be granted,
denied or taken only by the Owner of the Estate for Years until the Estate for
Years Expiration Date and thereafter only by Remainderman. Such consent,
approval or action shall be deemed to have been given or taken on behalf of
both the Owner of the Estate for Years and Remainderman as fully and completely
as if both joined in such consent, approval or action. Remainderman grants to
the Owner of the Estate for Years the sole and absolute authority to grant or
withhold any such consent, approval or action and to take any such action on
behalf of both the Owner of the Estate for Years and Remainderman, and further
hereby grants to the Owner of the Estate for Years an irrevocable power of
attorney, coupled with an interest, until the Estate for Years Expiration Date,
to do or cause to be done all consent, approvals, actions or other manner of
things required under this Lease to be done or performed by Lessor. Notwithstanding
the foregoing, if any dispute or uncertainty arises as to whether Lessee is
permitted to rely to a consent, approval or action given or taken by the Owner
of the Estate for Years alone or Remainderman alone, Lessee will have the right
to request joint consent, approval or action from the Owner of the Estate for
Years and Remainderman or a final order of a court having jurisdiction of all
of the parties.

(h)           No
further estates for years, cotenancies or other interests may be created by
Lessor or any estateholder thereof.

ARTICLE
XXIV.

LESSOR’S FINANCING; SUBORDINATION

SECTION 24.1. 
Lessor’s Mortgages and Lessee’s
Nondisturbance.

(a)           Lessor
shall have the right from time to time to enter into such Mortgages as Lessor
shall elect in its sole discretion. This Lease is and shall be subject and
subordinate to each and any Mortgage and to all advances under any Mortgage,
and any restatements, renewals, increases, supplements, modifications,
consolidations, spreaders, replacements, substitutions, or extensions of any
Mortgage, whenever made; provided that
such subordination shall be effective only if the applicable Mortgagee shall
have entered into a subordination, non-disturbance and attornment agreement in
favor of Lessee in the form of Exhibit D or in such other form as
Lessee, Lessor and such Mortgagee may agree upon (a “Mortgagee
Nondisturbance Agreement”).

 45
 

 

 

(b)           If Lessor and each Mortgagee shall not execute and
deliver a Mortgagee Nondisturbance Agreement, then as condition to the
permissibility of the related Mortgage hereunder and the exercise by such
Mortgagee of any rights accorded to a Mortgagee hereunder, such Mortgagee shall
execute and deliver to Lessee a separate agreement containing the terms of
Section 8 of Exhibit D hereto. Without limiting the effect of the
immediately preceding sentence or Lessee’s rights if the same is violated, any
provision hereof requiring approval or consent of, or notice to, a Mortgagee
(including Section 25.11(c)) shall only be applicable if Lessor and Mortgagee
shall have executed and delivered to Lessee a Mortgagee Nondisturbance
Agreement or the agreement described above in this Section. All notices sent to
Mortgagee at its address provided in said Mortgagee Nondisturbance Agreement or
said separate agreement in the manner provided in Section 25.2 shall be deemed
delivered in accordance with the terms of Section.25.2.

SECTION 24.2. 
Attornment.  Lessee
agrees that this Lease shall not be terminable by Lessee by reason of any
foreclosure of a Mortgage, nor by reason of the institution of any suit,
action, summary or other proceeding against Lessor or any foreclosure
proceeding brought by a Mortgagee to recover possession of the Property by
operation of law or otherwise and that the same shall not result in the
cancellation or termination of this Lease by Lessee or of the obligations of
Lessee hereunder. If at any time prior to the expiration of the Term, any Mortgagee
comes into possession of the Property or a receiver shall be appointed for
Lessor’s Interests, Lessee agrees, at the election and upon demand of any such
Mortgagee in possession, to attorn, from time to time, to any such Mortgagee or
any Person acquiring the interest of Lessor as a result of any such foreclosure
of a Mortgage or the granting of a deed or assignment in lieu of foreclosure,
upon the then executory terms and conditions of this Lease for the remainder of
the Term. The provisions of this Section 24.2 shall inure to the benefit of any
such successor Lessor, shall apply notwithstanding that, as a matter of law,
this Lease may terminate upon the foreclosure of a Mortgage, and shall be
self-operative upon any such demand, and no further instrument shall be
required to give effect to said provisions. Lessee, however, upon demand of any
such successor Lessor, shall execute, from time to time, instruments in
confirmation of the forgoing provisions of this Section 24.2 reasonably
satisfactory to any such successor Lessor and Lessee, acknowledging such
attornment. Notwithstanding anything in this Section 24.2 to the contrary, the
obligations of Lessee, and the rights of any Mortgagee or other Person, under
this Section 24.2 shall be subject to the Mortgagee’s assumption (subject to
the terms of any Mortgagee Nondisturbance Agreement in favor of Lessee from
such Mortgagee) of the obligations of Lessor hereunder.

ARTICLE
XXV.

MISCELLANEOUS

SECTION 25.1.  Binding
Effect; Successors and Assigns.  The terms and provisions of this Lease, and
the respective rights and obligations hereunder of Lessor and Lessee, shall be
binding upon their respective successors, legal representatives and assigns
(including, in the case of Lessor, any Person to whom Lessor may transfer the

 46
 

 

 

Lessor’s
Interests or any interest therein) and inure to the benefit of their respective
permitted successors and assigns.

SECTION 25.2. 
Notices.  Unless
otherwise specifically provided herein, all notices, consents, directions,
approvals, instructions, requests and other communications required or
permitted by the terms hereof to be given to any Person shall be in writing by
United States mail, by nationally recognized courier service, by facsimile or
by hand and any such notice shall become effective upon receipt or, if earlier,
five (5) Business Days after being deposited in the mails, certified or
registered with appropriate postage prepaid, one (1) Business Day after
delivery to a nationally recognized courier service specifying overnight delivery,
upon receipt if sent by facsimile (provided a copy is deposited in the mails,
certified or registered with appropriate postage prepaid that same day) or
delivered by hand, and shall be directed as follows:

	
  If to
  Lessor:

  
	
   

  
	
  c/o CRIC ASSET
  MANAGEMENT LLC

  
	
  One Exeter
  Plaza, 11th Floor

  
	
  Boston,
  Massachusetts  02116

  
	
  Tel.:  617-303-4400

  
	
  Fax:  617-303-4440

  
	
   

  
	
  with a copy to:

  
	
   

  
	
  Duane Morris LLP

  
	
  380 Lexington
  Avenue

  
	
  New York, New
  York 10168

  
	
  Attention: Stewart
  J. Stern, Esq.

  
	
  Tel.:  212-692-1070

  
	
  Fax: 
  212-692-1020

  
	
   

  
	
  If to Lessee:

  
	
   

  
	
  CA, Inc.

  
	
  One CA Plaza

  
	
  Islandia, New York 11749

  
	
  Attention: Lease Administration

  
	
  Fax: (631) 342-6872

  
	
   

  
	
  With a copy to:

  
	
   

  
	
  CA, Inc.

  
	
  One CA Plaza

  
	
  Islandia, New York 11749

  
	
  Attention: Legal – Real Estate Notice

  
	
  Fax: (631) 342-4866

  

 

 47
 

 

 

From time to time any party may designate a new address for purposes of
notice hereunder by notice to the other party hereto.

SECTION 25.3. 
Severability.  Any
provision of this Lease that shall be unenforceable shall be ineffective to the
extent of such unenforceability without invalidating the remaining provisions
hereof, and each party shall remain liable to perform its obligations hereunder
except to the extent of such unenforceability.

SECTION 25.4. 
Amendment; Complete Agreements.  This Lease
may not be terminated orally, and the terms hereof may not be amended,
supplemented, waived or modified orally, but only by an instrument in writing
signed by the party against which the enforcement of the termination,
amendment, supplement, waiver or modification shall be sought. This Lease is
intended by the parties as a final expression of their agreement in respect of
the subject matter hereof and as a complete and exclusive statement of such terms,
all negotiations, considerations and representations between the parties having
been incorporated herein.

SECTION 25.5. 
Business Day.  If any
provision of this Lease would result in a party’s performance of an obligation
on a day that is not a Business Day, then such performance shall instead be due
on the immediately following Business Day, with the same force and effect as
though made on the date otherwise required hereunder.

SECTION 25.6. 
Headings.  The Table of
Contents and headings of the various Articles and Sections of this Lease are
for convenience of reference only and shall not modify, define or limit any of
the terms or provisions hereof.

SECTION 25.7. 
Counterparts.  This Lease
may be executed by the parties in separate counterparts, each of which when so
executed and delivered shall be an original, but all such counterparts shall
together constitute but one and the same instrument.

SECTION 25.8. 
Governing Law.  This Lease
shall in all respects be governed by, and construed in accordance with, the
laws of the State of New York applicable to agreements made and to be performed
entirely within such State, including all matters of construction, validity and
performance.

SECTION 25.9. 
Apportionments.  Upon any
termination of this Lease (other than a termination resulting in a conveyance
of Lessor’s Interests to Lessee), except as otherwise set forth herein, there
shall be apportioned, as of the date of such termination, all rents (including
water or sewer rents), real estate taxes, municipal assessments, utilities and
other similar charges payable with respect to the Property. Upon termination of
this Lease resulting in the conveyance of Lessor’s Interests to Lessee, there
shall be no such apportionment, all of the foregoing due and payable with respect
to the Property prior to termination being paid by Lessee hereunder and all due
after such time shall be paid by Lessee as the then owner of the Property.

SECTION 25.10.  Estoppel
Certificates.  Each party agrees that at any time and from
time to time during the Term, it will promptly, but in no event later than ten
(10) Business Days after request by the other party, execute, acknowledge and
deliver to such

 48
 

 

 

other
party or to any prospective purchaser, assignee or Mortgagee or other third
party reasonably designated by such other party, a certificate stating:

(a)           that this Lease is unmodified and in force and effect
(or if there have been modifications, that this Lease is in force and effect as
modified, and identifying the modification agreements);

(b)           the date to which Base Net Rent has been paid;

(c)           whether or not there is any existing default by
Lessee in the payment of Base Net Rent;

(d)           (i) if requested of Lessor, whether or not, to the
knowledge of the individual executing the same, after reasonable inquiry, there
is any existing default by Lessee in the payment of any other sum of money due
by Lessee hereunder, and (ii) if requested of Lessee, whether or not there is
any existing default by Lessee in the payment of any other sum of money due by
Lessee hereunder,

(e)           whether or not, to the knowledge of the individual
executing the same, after reasonable inquiry, there is any other existing
default by either party with respect to which a notice of default has been
served, and, if there is any such default, specifying the nature and extent
thereof;

(f)            whether or not, to the knowledge of the individual
executing the same, after reasonable inquiry, there are any setoffs, defenses
or counterclaims against enforcement of the obligations to be performed
hereunder existing in favor of the party executing such certificate; and

(g)           other items or information that may be reasonably
requested.

Such certificate may be relied upon
by such purchaser, assignee, Mortgagee or other third party as shall have been
designated in accordance with the foregoing provisions of this Section 25.10.

SECTION 25.11.  Granting
of Easements.

(a)           Provided
no Event of Default has occurred and is continuing, Lessor will join with
Lessee from time to time at the request of Lessee (and at Lessee’s sole cost
and expense) to (i) subject to the terms of Article XIV, (x) sell, assign,
convey or otherwise transfer an interest in the Property to any Person legally
empowered to take such interest under the power of eminent domain and (y) dedicate
or transfer unimproved portions of the Property for road, highway or other
public purposes, (ii) grant easements, licenses, rights of way and other rights
and privileges in the nature of easements, (iii) release existing easements and
appurtenances which benefit the Property, (iv) execute petitions to have the
Property annexed to any municipal corporation or utility district, (v) execute
amendments to any covenants and restrictions affecting the Property and (vi)
execute and deliver any instrument, in form and substance reasonably acceptable

 49
 

 

 

to Lessor, necessary or appropriate
to make or confirm such grants, releases or other actions described above in
this Section 25.11 to any Person; provided that
Lessor shall have received a certificate of an authorized officer of Lessee
stating that such grant or release, or such dedication, transfer or amendment, as the
case may be, set forth in clause (i) through (vi) does not impair (other than
to an immaterial extent) the usefulness of the Property for the purposes for
which the Property is then generally being used and does not impair (other than
to an immaterial extent) the fair market value of the Property. Any dispute under this Section 25.11 shall be resolved by the
Arbitration Procedure.

(b)           Without
limiting the generality of Section 25.11(a), Lessor (at Lessee’s expense)
agrees to execute and deliver at Lessee’s request and to allow Lessee to record
in the applicable land records, such purchase agreements, instruments,
resolutions and other documents as Lessee or Lessor may reasonably request to
effect (i) the conveyance to LIPA of an easement interest in respect of the Current LIPA Area, (ii) any conveyance by LIPA
to Lessor of a fee or other interest in respect of the Former LIPA Area, (iii)
any conveyance of a fee, easement and/or rights in respect of the Pump Station
Area, including rights to maintain, repair and replace underground pipes,
conduits and the like on the Property outside of the Pump Station Area running
between the Pump Station Area and the outer boundaries of the Land, which
pipes, conduits and the like would service the Property and/or other
properties, and including necessary or appropriate rights of access and egress
in connection with the foregoing, and/or (iv) the implementation of the road
abandonment plan shown depicted in Exhibit E hereto, and Lessor hereby
agrees that it will execute and deliver such agreements, instruments and other
documents, including resolutions or other evidence of authority, as may
be necessary or appropriate to effectuate the conveyances contemplated in this
Section 25.11(b) if the conditions contained in Section 25.11(c) are met. In
furtherance of the foregoing, the term “Property” as used herein shall be
subject to modification to include any right, title and interest acquired by
Lessor in respect of the Former LIPA Area, and exclude any right, title and
interest conveyed by Lessor in respect of the Current LIPA Area and/or the Pump
Station Area or surrounding areas as described in the immediately preceding sentence,
and the parties will execute and record a confirmatory amendment of this Lease,
to reflect any such inclusion and/or exclusion.

(c)           Provided no Event of Default has
occurred and is continuing hereunder, each Mortgagee shall consent to, and
shall execute and deliver such agreements, instruments and other documents as
Lessee may request and as shall be reasonably necessary or appropriate to
effectuate, the conveyances and other actions set forth in clauses (i) through
(iv) of Section 25.11(b), including a instrument releasing or subordinating,
respectively, its Mortgage to any fee estate or easement granted in the manner
contemplated in Section 25.11(b)(i) and/or Section 25.11(b)(iii), provided that:

(i)            With
respect to any conveyance described in Section 25.11(b)(ii), to the extent that
any consideration is required to be paid or given by Lessor to LIPA in
consideration for such conveyance (in addition to the conveyance described in
Section 25.11(b)(i)) and/or obligations (other than ministerial obligations
such the execution and delivery of documents) to be performed or liabilities to
be assumed by Lessor in connection therewith, then, as

 50
 

 

 

a
condition to Mortgagee’s consent (and Lessor’s execution and delivery of the
instruments contemplated in Section 25.11 in connection with the conveyance
described in Section 25.11(b)(ii)), Lessee shall (as applicable) pay such
consideration and/or agree with Lessor to perform such obligations and/or
indemnify Lessor against such liabilities in accordance with and subject to
terms and conditions set forth in Section 20.1;

(ii)           With respect to any conveyance described in Section
25.11(b)(ii),

(A)          (i) Lessee shall duly execute deliver and
record a subordination, non-disturbance and
attornment agreement substantially similar to the Mortgagee Nondisturbance
Agreement attached as Exhibit D to this Lease modified to reflect the
new description of the Property (which Mortgagee shall execute in counterpart
and deliver to Lessee), and (ii) Lessee shall deliver a bargain and sale deed
from LIPA the then-owner of the Former LIPA Area with a covenant against
grantor’s act, subject only to the Permitted Liens and such other matters as do
not adversely affect the value or use of the balance of the Property.

(B)           Lessee
shall deliver to Lessor for its review the proposed purchase and sale agreement
between Lessor and LIPA not less than ten (10) days before Lessor is requested
to sign such agreement, and subsequent drafts as the same are prepared, which
agreement (subject to the other provisions hereof) shall be reasonably
acceptable to Lessor;

(C)           Lessee
shall obtain for Lessor an owner’s title insurance policy on the then-current
ALTA form from Chicago Title Insurance Company insuring Lessor that title to
the Former LIPA Area is vested in Lessor free of any Liens (other than as
described in (A) above, and insuring that no gores or strips separate the
Former LIPA Area from the balance of Property, provided that the same can be
purchased at reasonable cost (it being agreed that a premium for such policy
and endorsement of up to $2,000 based on a purchase price for the Former LIPA
Area of $350,000 is reasonable).

(iii)          With respect to any conveyance described in Section
25.11(b)(iii),

(A)          Lessee shall deliver
to Lessor and Mortgagee reasonable evidence that the balance of the Property
remaining after such conveyance (the “Remaining
Parcel”) shall remain as one or more separate, legally subdivided parcels, comply with applicable
zoning ordinances, parking requirements and other Applicable Laws and
Restrictions and have available to it all utility services reasonably necessary
or convenient to the use and operation thereof (taking into account services
available to it from the Pump Station Area) (it being

 51
 

 

 

agreed, without limitation, that a PZR report
shall be sufficient for these purposes); and that
no portion of the Remaining Parcel shall for any purpose whatsoever be part of
a tax lot with all or as part of any of the Pump Station Area being released;
and

(B)           Lessee shall deliver to Mortgagee an
ALTA form of Partial Release of Mortgaged Premises Endorsement, provided that
the same can be purchased at reasonable cost (it being agreed that a premium
for such endorsement of up to $300 is reasonable).

(iv)          With respect to a conveyance described in Section 25.11(b)(ii)
or 25.11(b)(iii), following each such conveyance Lessee shall deliver to
Mortgagee a metes and bounds legal description and an updated survey of
the Remaining Parcel meeting then current
ALTA/ASCM standards showing the same detail as the survey delivered in
connection with the closing of the sale of the Property to the Lessor named
herein; and

(v)           Lessee shall pay as Supplemental Rent to Lessor on
demand all reasonable out-of-pocket costs and expenses of Lessor and Mortgagee (including
reasonable attorneys’ fees and disbursements) in reviewing, executing,
recording or obtaining any of the items described in this Section 25.11(b),
or any other any materials or instruments
pursuant to this Section 25.11(b), provided that any specific, more
limiting provision of Section 25.11(b) above shall govern over the
general provisions of this clause (v).

SECTION 25.12.  No Joint
Venture.  Any intention to create a joint venture or
partnership relation between Lessor and Lessee is hereby expressly disclaimed.

SECTION 25.13.  No Merger.  There shall
be no merger of this Lease or of the leasehold estate created hereby with the
fee or any other estate or interest or ownership interest in the Property or
any part thereof by reason of the fact that the same Person may acquire or own
or hold, directly or indirectly, two or more of such estates or any part
thereof.

SECTION 25.14.  Lessor
Bankruptcy.  The parties agree that if Lessee elects to
remain in possession of the Property after the rejection of this Lease by
Lessor under Section 365(h) of the Bankruptcy Code all of the terms and
provisions of this Lease shall be effective during such period of possession by
Lessee, including the Renewal Terms even if Lessor becomes subject to a case or
proceeding under the Bankruptcy Code prior to the commencement of any such
Renewal Term or the time for the exercise of any such rights.

SECTION 25.15.  Expenses;
Reimbursements and Requirements for Requesting Same.  Each party
will pay its own expenses in connection with negotiating and entering into this
Lease, including its own legal fees and expenses. Whenever this Lease provides
for the reimbursement by Lessee of fees, costs and expenses of Lessor or any
other party, then such reimbursement obligation shall be limited to reasonable
actual, out-of pocket

 52
 

 

 

third-party costs and expenses and
any request for reimbursement, for it to be effective, must be accompanied with
reasonable third-party documentation as to the basis of the expenditure for
which such reimbursement is requested.

SECTION 25.16.  Further
Assurances.  Each of Lessor and Lessee, at the cost and
expense of the requesting party, will cause to be promptly and duly taken,
executed, acknowledged and delivered all such further acts, documents and
assurances as any of the others reasonably may request from time to time in
order to carry out more effectively the intent and purposes of this Lease.

SECTION 25.17.  Holdover.  If Lessee
shall continue to occupy the Property after the expiration or earlier
termination of this Lease, then for a period of not greater than one hundred
and eighty (180) days, Lessee shall be deemed to be a holdover on a
month-to-month basis and the Base Net Rent shall be one hundred fifty percent
(150%) of the Base Net Rent in effect immediately prior to the holdover period
and such Base Net Rent payment shall be in lieu of any other damages or
payments that may be owed to Lessor by reason of Lessee’s holdover. This
Section 25.17 does not amount to a waiver of Lessor’s right of re-entry or any
other right granted under Article XIX and shall not derogate from any of Lessee’s
obligations hereunder in respect of the surrender of the Property or otherwise.

SECTION 25.18.  Non-recourse.  Lessee shall
look only to Lessor’s estate in the Property for the satisfaction of Lessee’s
remedies if there is a default by Lessor hereunder, and no other property or
assets of Lessor or its partners, owners or principals, disclosed or
undisclosed, shall be subject to levy, execution or other enforcement procedure
for the satisfaction of Lessee’s remedies hereunder.

SECTION 25.19.  Survival.  In the event
of the termination of this Lease as herein provided, the obligations and
liabilities of Lessor and Lessee, as the case may be, actual or contingent,
under this Lease which arose at or prior to such termination shall survive such
termination.

SECTION 25.20.  Waiver of
Jury Trial.  Lessor and Lessee each hereby voluntarily and
knowingly waives and relinquishes its right to a trial by jury in any action,
proceeding or counterclaim brought by either against the other on any matter
whatsoever arising out of or in any way connected with this Lease, the
relationship of Lessor with Lessee, or Lessee’s use or occupancy of the
Property, including any claim of injury or damage, and any emergency and other
statutory remedy with respect thereto.

[SIGNATURES APPEAR ON THE FOLLOWING PAGE]

 53
 

 

 

IN WITNESS WHEREOF, Lessee and Lessor have executed
this Lease as of the date first above written.

	
  

  	
  LESSEE:

  
	
   

  	
   

  
	
   

  	
  CA, INC., a
  Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Bryan
  Urquhart

  	
   

  
	
   

  	
   

  	
   Bryan
  Urquhart

  
	
   

  	
   

  	
   SVP-
  Finance and Administration

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LESSOR:

  
	
   

  	
   

  
	
   

  	
  ISLANDIA
  OPERATORS LLC, a Delaware

  
	
   

  	
  limited liability
  company

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/
  Francesco Piovanetti

  	
   

  
	
   

  	
   

  	
   Francesco
  Piovanetti

  
	
   

  	
   

  	
   Vice
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ISLAND
  HEADQUARTERS OPERATORS

  
	
   

  	
  LLC, a Delaware
  limited liability company

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Francesco Piovanetti

  	
   

  
	
   

  	
   

  	
   Francesco
  Piovanetti

  
	
   

  	
   

  	
   Vice President

  

 

 54

 

APPENDIX A

In this Lease, unless the context otherwise requires:

(a)           any term defined below by reference to another
instrument or document shall continue to have the meaning ascribed thereto
whether or not such other instrument or document remains in effect;

(b)           words importing the singular include the plural and
vice versa;

(c)           words importing a gender include any gender;

(d)           a reference to a part, clause, party, section,
article, exhibit or schedule is a reference to a part and clause of, and a
party, section, article, exhibit and schedule to, this Lease;

(e)           a reference to any statute, regulation, proclamation,
ordinance or law includes all statutes, regulations, proclamations, ordinances
or laws varying, consolidating or replacing them, and a reference to a statute
includes all regulations, proclamations and ordinances issued or otherwise
applicable under that statute;

(f)            a reference to a document includes an amendment or
supplement to, or replacement or novation of, that document;

(g)           a reference to a party to a document includes that
party’s successors and assigns, provided that
the foregoing shall not be construed as permitting a transfer or assignment
otherwise prohibited under the terms of this Lease;

(h)           if a provision hereof states that a party may not
unreasonably withhold its consent or approval hereunder, then such party may
also not unreasonably condition or delay such consent or approval; and

(i)            the words “including” and “includes,” and words of
similar import, shall be deemed to be followed by the phrase “without
limitation”;

(j)            the words “hereof” and “hereunder,” and words of
similar import, shall be deemed to refer to this Lease as a whole and not to
the specific section or provision where such word appears;

(k)           neither party (or its counsel) shall be deemed to
have been the drafter of this Lease, such that it shall not be construed
against any party as the drafter thereof; and

(l)            a
reference to the “Property” shall be deemed to be followed by the phrase “or a
portion thereof.”

 

 

“Affiliate” of any Person shall mean any other Person directly or
indirectly controlling, controlled by or under common control with, such Person
and shall include, if such Person is an individual, members of the Family of
such Person and trusts for the benefit of such individual or Family members.
Without limiting the foregoing, a limited partnership the limited partners of
which are trusts for the benefit of Family members of a Person and the general
partners of which are beneficiaries or Family members of the beneficiaries of
such trusts or corporations or partnerships owned by any of the foregoing shall
be an Affiliate of such trusts.

“Alterations” shall mean, with respect to the Property, alterations,
additions, improvements, modifications and additions to the Property.

“Annual Base Net Rent” shall have the meaning given in Article III.

“Applicable Laws and Restrictions” shall mean

(1)           all existing and future
applicable laws, rules, regulations, statutes, treaties, codes, ordinances,
permits, certificates, orders and licenses of and interpretations by, any
Governmental Authorities, and applicable judgments, decrees, injunctions,
writs, orders or like action of any court, arbitrator or other administrative,
judicial or quasi judicial tribunal or agency of competent jurisdiction
(including Environmental Laws and other laws pertaining to health, safety or
the environment and those pertaining to the construction, use or occupancy of
the Property);

(2)           the requirements of all
easements, covenants, conditions and restrictions which now or (provided Lessee
and Lessor consent thereto) hereafter affect or encumber the Property; and

(3)           the requirements of
public liability, fire and other policies of insurance at any time in force
with respect to the Property which are purchased by Lessee at such time as
Lessee is not self-insuring.

“Appraisal Procedure” shall mean
the following procedure using standard appraisal practices, for determining
Fair Market Rental Value or any other amount which may, pursuant to any
provision of this Lease, be determined by the Appraisal Procedure: the parties
shall first attempt jointly to select a qualified MAI to make such
determination. If such joint selection is not agreed upon in writing within ten
(10) Business Days after the request of either party to do so, then each party
shall select one qualified MAI, provided that
if either party shall fail to choose an MAI within ten (10) Business Days after
notice from the other party of the selection of its MAI, then the appraisal by
such appointed MAI shall be binding on the parties. If the two MAIs cannot
agree within twenty (20) days after both shall have been appointed, then a
third MAI shall be selected by the two MAIs or, failing agreement as to such
third MAI within thirty (30) days after both shall have been appointed, by the
American Arbitration Association. The decisions of the three MAIs shall be
given within twenty (20) days of the appointment of the third MAI and the
decision of the MAI most different from the average of the other two shall be
discarded and such average shall be binding on the

 2
 

 

 

parties; provided that if the
highest appraisal and the lowest appraisal are equidistant from the third
appraisal, the third appraisal shall be binding on the parties. The fees and
expenses of all MAIs shall be split among Lessor and Lessee.

“Arbitration Procedure” shall mean arbitration in the County of
Suffolk, New York in accordance with the following provisions, and shall be
employed only in those instances in which this Lease expressly so provides
elsewhere in this Lease. Within ten (10) Business Days next following the
giving of any notice by a party to the other stating that it wishes the dispute
between the parties to be so determined, Lessor and Lessee shall each give
notice to each other setting forth the name and address of an arbitrator
designated by the party giving notice. If either party shall fail to give
notice of such designation within said ten (10) Business Days, then the
arbitrator chosen by the other side shall make the determination alone. The two
arbitrators shall designate a third arbitrator. If the two arbitrators shall
fail to agree upon the designation of a third arbitrator within five (5)
Business Days after the designation of the second arbitrator, then either party
may apply to any court having jurisdiction, requesting the designation of such
arbitrator. All arbitrators shall be persons who shall have had at least ten
(10) years’ experience arbitrating or mediating disputes relating to New York
office leases or who shall otherwise be approved by the parties, and shall not
be financially or contractually related to Lessor or Lessee (or any Mortgagee)
at the time of appointment or at any time within the preceding ten (10) years.
The three arbitrators shall conduct such hearings as they deem appropriate,
making their determination in writing and give notice to Lessor and Lessee; the
concurrence of any two of said arbitrators shall be binding upon Lessor and
Lessee. The arbitrators shall be bound by the provisions of this Lease, and
shall not add to, subtract from or otherwise modify such provisions. The
determination in any such arbitration shall be final and binding upon Lessor
and Lessee and enforceable in any court of competent jurisdiction. Each party
shall pay its own counsel fees and expenses, if any, in connection with any
arbitration hereunder, including the expenses and fees of any arbitrator
selected by it in accordance with provisions hereof, and the parties shall
share all other expenses and fees of any such arbitration, provided
that the foregoing shall not prohibit the arbitrators from determining that the
prevailing party shall be entitled to recover all costs and expenses from the
non-prevailing party to the extent permitted by this Lease.

 “Authorized Officer” shall mean
with respect to Lessor if Lessor is not an individual, any officer of Lessor,
any trustee of Lessor (if a trust) or any general partner, manager or joint
venturer of Lessor (if a partnership, limited liability company or joint
venture) who shall be duly authorized to execute this Lease.

“Bankruptcy Code” shall mean Title 11 of the United States Code.

“Base Net Rent” shall mean, for the Initial Term, the rent payable
pursuant to Section 3.1 and, for any Renewal Term, the rent payable pursuant to
Article V.

“Board of Directors”, with respect
to a corporation, shall mean either the Board of Directors or any duly
authorized committee of that Board which pursuant to the by laws of such
corporation has the same authority as that Board as to the matter at issue.

 3
 

 

 

“Buildings” shall mean the Main Buildings and any other structures
now or hereafter existing during the Term.

“Business Day” shall mean any day other than (i) a Saturday or a
Sunday, (ii) a day on which commercial banks in the City of New York, State of
New York are authorized or obligated by law, government decree or executive
order to be closed or (iii) a day observed as a holiday by the State of New
York or the Federal government.

“Casualty” shall mean a fire, casualty or other (actual or
constructive) loss affecting all or any portion of the Property.

“Claims” shall mean liabilities, obligations, damages, losses,
demands, penalties, fines, claims, actions, suits, judgments, settlements,
costs, expenses and disbursements (including reasonable, actually incurred
legal fees and expenses and costs of investigation) of any kind and nature
whatsoever.

“Code” shall mean the Internal Revenue Code of 1986.

“CA Competitor” shall mean a Person (or an Affiliate of a Person)
that engages primarily in the development and/or licensing of computer software
applications.

“Condemnation” shall mean any condemnation, requisition or other
taking or sale of the use, occupancy or title to the Property or any part
thereof in, by or on account of any eminent domain proceeding or other action
by any Governmental Authority or other Person under the power of eminent domain
or otherwise (including by reason of the application of Applicable Laws and
Regulations or any transfer in lieu of or in anticipation thereof.

“Consumer Price Index” shall mean the Consumer Price Index published
by the Bureau of Labor Statistics of the United States Department of Labor for “Urban
Consumers” for the “N.Y.-Northern N.J.-Long Island, NY-NJ-CT” area in the table
entitled “Consumer Price Index-Cities”, or any successor index thereto, “All-Item
Figures” (1982-84=100) for the month and year in question. In the event that
the Consumer Price Index is converted to a different standard reference base or
otherwise revised, the determination to be made pursuant to any provision of
this Lease shall be made with the use of such conversion factor, formula or
table for converting the Consumer Price Index as may be published by the Bureau
of Labor Statistics or, if not so published, then with the use of such conversion
factor, formula or table for converting the Consumer Price Index as may be
published by the Bureau of Labor Statistics or, if no so published, then with
the use of such conversion factor, formula or table as may be published by
Prentice-Hall, Inc. or any other nationally recognized publisher of similar
statistical information, or if a conversion factor, formula or table is
unavailable, Lessor or Lessee shall agree on another method to adjust the
Consumer Price Index, or any successor thereto, to the figure that would have
been arrived at had the manner of computing the Consumer Price Index in effect
on the date of this Lease not been altered..

“Control” (including the
correlative meanings of the terms “controlling,” “controlled by”
and “under common control with”), as used with respect to any Person,

 4
 

 

 

shall mean the possession, directly or indirectly, of the power to direct
or cause the direction of the management policies of such Person, whether
through the ownership of voting securities or by contract or otherwise,
provided (but without limiting the foregoing) that no pledge of voting
securities of any Person without the current right to exercise voting rights
with respect thereto shall by itself be deemed to constitute control over such
Person.

“Covenants and Obligations of Lessor” shall have the meaning as
specified in Section 23.3(b)(ii).

“Covered Taxes” means, collectively, real estate, ad valorem taxes
or other taxes in the nature of property taxes, sales taxes, gross receipts
taxes, business license taxes, use taxes and similar taxes (including rent
taxes, intangible taxes and excise taxes) and charges and assessments on the
Property (including all charges and assessments for public improvements or
benefits for the Property or the area in which they are located, whether or not
such improvements are commenced or completed within the Term), including all fines, interest and
penalties thereon (except as provided in Section 20.2(b)), which at any time prior to, during or with respect to the
Term may be levied, assessed or imposed by any federal, state or local
authority or any other Person upon or with respect to (a) the Property or any
part thereof; (b) the construction, leasing, subleasing, assignment, control,
condition, occupancy, servicing, maintenance, repair, activity conducted on,
delivery, insuring, use, operation or improvement of the Property or any part
thereof by Lessee; or (c) the Rent. Nothing contained in this Lease, however,
shall be construed to require Lessee to pay, assume liability for, or
indemnify, protect, defend or hold harmless with respect to, and the term “Covered
Taxes” shall not mean or include: (i) any income or franchise tax, or taxes
on doing business, taxes on the privilege to do business, capital or net worth
taxes, capital stock taxes, license or mercantile license or similar taxes
based on or measured by net income or taxes in lieu thereof imposed by the
United States or by a state, county or city in which Lessor is doing business
or in which the Property is located, unless such tax is imposed upon Lessor or
the rents or income from the Property in substitution for any of the items
included above in this definition of “Covered Taxes”, in which case this
tax shall be calculated for this purpose as if the Property for which such tax
is imposed was the only property of Lessor and as if the income therefrom was
the only income of Lessor; or (ii) any transfer tax or other similar tax
imposed with respect to the sale, exchange or other disposition of the Property
or any interest therein by Lessor or the proceeds thereof.

“Current LIPA Area” shall mean the areas shown on Schedule
25.11(b) as “CA TO GRANT TITLE TO LIPA.”

“deemed refund or credit” shall have the meaning as specified in
Section 20.2(d).

“Deposit” shall have the meaning as specified in section 23.4(c)(v).

“Disbursing Agent” shall have the
meaning specified in Section 14.4(b)(i).

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“Dollar” or “$” shall mean the lawful currency of the United
States of America.

“Due Diligence Procedures” shall have the meaning as specified in
Section 23.4(c)(iii).

“Effective Date” shall mean August 15, 2006.

“Election Period” shall have the meaning as specified in Section
23.4(c)(v).

“Environmental Laws” shall mean and include the Resource
Conservation and Recovery Act of 1976, (RCRA) 42 U.S.C. §§ 6901 6987, as
amended by the Hazardous and Solid Waste Amendments of 1984, the Comprehensive
Environmental Response, Compensation and Liability Act, as amended by the
Superfund Amendments and Reauthorization Act of 1986, 42 U.S.C. §§ 9601 9657, (CERCLA),
the Hazardous Materials Transportation Act of 1975, 49 U.S.C. §§ 1801 1812, the
Toxic Substances Control Act, 15 U.S.C. §§ 2601 2671, the Clean Air Act, 42
U.S.C. §§ 7401 et seq., the Federal Insecticide, Fungicide and Rodenticide Act,
7 U.S.C. §§ 136 et seq. and all similar federal, state and local environmental
laws, ordinances, rules, orders, statutes, decrees, judgments, injunctions,
codes and regulations, and any other federal, state or local laws, ordinances,
rules, codes and regulations relating to the environment, human health or
natural resources or the regulation or control of or imposing liability or
standards of conduct concerning Hazardous Materials or the investigation, clean
up or other remediation of the Property, as any of the foregoing are from time
to time amended, supplemented or supplanted.

“Estate for Years” shall mean an estate for years in the Property,
granted pursuant to deed by Lessee to Island Headquarters Operators LLC, dated
as of the Effective Date, commencing on the Effective Date and expiring on the
day immediately prededing the twenty seventh (27th) anniversary of the
Effective Date, unless sooner terminated by operation of law or otherwise (the “Estate
for Years Expiration Date”).

“Estate for Years Expiration Date” shall have the meaning given such
term in the definition of Estate for Years.

“ERISA” shall mean the Employee Retirement Income Security Act of
1974.

“Event of Default” shall have the meaning given in Section 19.1.

“Event of Loss” shall mean.

(1)           a
Casualty where it is reasonably likely to take longer than one (1) year from
the Casualty to restore the Property to substantially the same dimensions and
utility as existed immediately prior to the Casualty, or where, as a result of
Applicable Laws and Regulations, the Property cannot be restored to
substantially the same dimensions and utility as existed immediately prior to
the Casualty;

 6
 

 

 

(2)           a Condemnation of 50% or
more of the usable square footage of office space in the Improvements;

(3)           a Condemnation of a portion
of the Property such that the remaining portion thereof is uneconomic or
impractical for Lessee’s continued use (including any instance in which a
material number of parking spaces are eliminated), or

(4)           a Condemnation whereby
Applicable Laws and Restrictions prohibit occupancy or use.

“Exercise Notice” shall have the meaning as specified in Section
23.4(c)(v).

“Fair Market Rental Value” shall have the meaning as specified in
Section 5.4(a).

“Filing” shall have the meaning as specified in Section 20.2(h).

“Family” shall mean, as to any Person, such Person’s grandparents,
all lineal descendants of such Person’s grandparents, Persons adopted by, or
stepchildren of, any such grandparent or descendant and Persons currently
married to, or who are widows or widowers of, any such grandparent, descendant,
adoptee or stepchild.

“Final Payment Date” shall have the meaning as specified in Section
19.2(c).

“First Renewal Term” shall have the meaning specified in Section
5.1.

“Former LIPA Area” shall mean the areas shown on Schedule
25.11(b) as “LIPA TO GRANT TITLE TO CA.”

“Governmental Authority” shall mean any federal, state, county,
municipal or other governmental or regulatory authority, agency, board, body,
commission, instrumentality, court or quasi governmental authority.

“Hazardous Material” shall mean any substance, waste or material
which is toxic
(including Toxic Mold, except that Lessee’s remediation obligations in respect
of Toxic Mold shall be as set forth in the last sentence of Section 11.1),
explosive, corrosive, flammable, infectious, radioactive, carcinogenic, mutagenic or otherwise hazardous, including
petroleum, its derivatives, by products and other hydrocarbons and friable
asbestos and is or becomes regulated by any Governmental Authority, including
any agency, department, commission, board or instrumentality of the United
States, the State of New York or any political subdivision thereof.

“Improvements” shall mean the
Buildings and all fixtures attached to or located in, or in the future located
in, on or under the Buildings and other structures situated on the Land, now or
hereafter located on the Land, including the roads, parking lots and
structures, access ways, sidewalks, recreational areas, vehicle control
facilities,

 7
 

 

 

landscaping, utility and service systems used or procured for use in
connection with the operation and maintenance of the Property and Conveyed
Equipment, excepting, however, any Retained Fixtures and all tangible and
intangible personal property, including all intellectual property whether owned
or leased by Lessee or third parties, all software object and source code, all
trade fixtures, furniture and furnishings (including computers, servers,
inventory and tools) and, unless specified as included within the Conveyed Equipment,
all equipment in any way related to the use, occupancy, repair or maintenance
of the Property or any component thereof.

“Initial Term” shall mean the period commencing on the Effective
Date and ending at 11:59 p.m. on the day immediately preceding the fifteenth
(15th) anniversary of the Effective Date.

“Land” shall mean the land described in Exhibit A.

“Lessee” shall mean CA, Inc., a Delaware corporation.

“Lessee Purchaser” shall have the meaning as specified in Section
23.4(c)(v).

“Lessee’s Broker” shall have the meaning as specified in Article
XVII.

“Lessor” shall mean collectively, the Owner of the Estate for Years
and Remainderman.

“Lessor Liens” shall mean Liens on or against the Property or this
Lease or any payment of Rent (a) which result from any act of, or any Claim
against, Lessor, any owner of a direct or indirect interest in Lessor or any
trustee of Lessor, unrelated to its interest in the Property, or which result
from any violation by Lessor of any of the terms of this Lease not caused by a
default of Lessee under this Lease or (b) which result from Liens in favor of
any taxing authority by reason of any Tax owed by Lessor, any owner of a direct
or indirect interest in Lessor or any trustee of Lessor, except that Lessor
Liens shall not include any Lien resulting from any Covered Tax until such time
as Lessee shall have already paid to Lessor such Covered Tax or (c) which
result from any amounts owed by Lessor but which are not indemnifiable by
Lessee pursuant to this Lease. For the avoidance of doubt, any Mortgage is a
Lessor Lien.

“Lessor’s Interests” shall mean (1) the Estate for Years and the
Owner of the Estate for Years’ other rights and interests in and to the
Property and this Lease, and (2) the Remainder Interest and the Remainderman’s
other rights and interests in and to the Property and this Lease, as
applicable.

“Lessor Nondisturbance Agreement” has the meaning given such term in
Section 16.3.

“Lien” shall mean any lien,
mortgage, deed of trust, encumbrance, pledge, charge, security interest of any
kind (including any thereof arising under any conditional sale or other title
retention agreement) lease, easement, servitude, right of others or other

 8
 

 

 

matters of any sort affecting the title or current or future rights to
ownership, possession or use.

“LIPA” shall mean the Long Island Power Authority, and its
successors and assigns.

“MAI” shall mean a certified member of The Appraisal Institute or
any successor organization, who shall have at least ten years’ experience in
appraising commercial properties in the tri-state (Connecticut, New York and
New Jersey) area, and a disinterested third party unrelated to Lessor (and
Mortgagee) and Lessee.

“Main Buildings” are the following buildings on the Property, each
of which is shown on Exhibit B: (1) the six-story central office tower
(the “Central Tower”), (2) the two-story atrium building (the “Atrium
Building”), (3) the two-story annex (the “Annex”) and (4) solely for
purposes of Article IX, the two (2) three-story parking garages.

“Mezzanine Financing” shall have the meaning given such term in
Section 23.3(d).

“Minimum Rating” shall mean, with respect to a specified Person,
that the senior, long-term unsecured debt of such Person is rated “BBB-” (or
higher) by Standard & Poor’s Ratings Group and “Ba1” (or higher) by Moody’s
Investors Service, Inc (or their respective successors).

“Mortgage” shall mean a mortgage lien on Lessor’s interest in the
Property and in this Lease to secure Lessor’s borrowed indebtedness.

“Mortgagee” shall mean the holder of a Mortgage from time to time.

“Mortgagee Nondisturbance Agreement” has the meaning given such term
in Section 24.1.

“Multi-Asseted Owner” shall mean a Person whose net economic
interest in the Property and this Lease represents not more than ten percent
(10%) of the net assets of such Person.

“Multi-Asset Person” shall have the meaning as specified in Section
23.3(e)(i).

“Net Casualty Proceeds” shall mean the compensation and/or insurance
payments net of the expenses of collecting such amounts received by Lessor or
Lessee in respect of the Property by reason or on account of a Casualty (but
excluding any business interruption payments).

“Net Condemnation Proceeds” shall
mean any award or compensation net of the expenses of collecting such amounts
received by Lessor or Lessee in respect of the Property by reason or on account
of a Condemnation.

 9
 

 

 

“Net Proceeds” shall mean Net Casualty Proceeds and Net Condemnation
Proceeds.

“Nonseverable” shall describe an Alteration or part of an Alteration
which cannot be readily removed from the Property without causing damage (other
than that of a de minimis nature) to the Property.

“Non-U.S. Person” means a person who is not a U.S. person, as
defined in Regulation S.

“Notice of Alterations” shall have the meaning specified in Section
9.5(b).

“Notice of Objection” shall have the meaning specified in Section
9.5(b).

“Offer terms” shall have the meaning as specified in Section
23.4(c)(i).

“Officer’s Certificate” of a Person means a certificate signed by
the Chairman of the Board or the President or any Executive Vice President or
any Senior Vice President or any other Vice President of such Person signing
with the Treasurer or any Assistant Treasurer or the Controller or any
Assistant Controller or the Secretary or any Assistant Secretary of the such
Person, or by any Vice President who is also Controller or Treasurer signing
alone.

“Owner of the Estate for Years” shall mean Island Headquarters
Operators LLC, a Delaware limited liability company, and its successors and assigns
as the holder of the Estate for Years, provided the foregoing shall not be
deemed Lessee’s consent to any assignment, succession or other transfer of any
sort whatsoever not otherwise permitted under this Lease.

“Permitted Investments” shall mean (i) obligations of the United
States of America, or fully guaranteed as to interest and principal by the
United States of America, maturing in not more than six months from the date
such investment is made, (ii) certificates of deposit having a final maturity
of not more than thirty (30) days after the date of issuance thereof of any
commercial bank incorporated under the laws of the United States of America or
any state thereof or the District of Columbia which bank is a member of the
Federal Reserve System and has a combined capital and surplus of not less than
$100,000,000 and with a senior unsecured debt credit rating of at least A by
the Rating Agencies, (iii) commercial paper, rated A 1 or its equivalent (or
better) by the Rating Agencies and having a remaining term until maturity of
not more than ninety (90) days from the date such investment is made and (iv)
investments in shares of a money market fund or investment fund the assets of
which consist only of the types of investments described in (i) above and which
fund is rated at least AAAm or AAAm-G by the Rating Agencies.

“Permitted Liens” shall mean:

(a)           Lessor
Liens,

 10
 

 

 

(b)           Liens for Taxes either
not yet due or being contested in compliance with Section 10.1,

(c)           materialmen’s, mechanics’,
workers’, repairmen’s, employees’ or other like Liens on Lessee’s interest in
the Property for amounts either not yet due or being contested in compliance
with Section 10.1,

(d)           Liens arising out of
judgments or awards with respect to which at the time an appeal or proceeding
for review is being prosecuted in good faith and either which have been bonded
or for the payment of which adequate reserves shall have been taken,

(e)           easements, rights of
way, reservations, servitudes and rights of others against the Property which
are (x) listed on Schedule B to the Title Policy or otherwise included as “Property
Documents” under the Purchase and Sale Agreement or (y) granted pursuant to
Section 25.11, and

(f)            assignments, leases and
subleases and other Liens expressly permitted by this Lease or otherwise
consented by Lessor.

“Person” shall mean individual, corporation, partnership, limited
liability company, joint venture, association, joint stock company, trust,
nonincorporated organization or government or any agency or political
subdivision thereof.

“Property” shall mean (i) the Land, (ii) the Buildings and other
Improvements, and (iii) all of the appurtenances, easements, restrictions, and
rights of way relating to the foregoing, subject to the Permitted Liens. In
addition, “Property” shall be subject to modification in the manner
contemplated in Section 25.11(b).

“Proposed Sale Notice” shall have the meaning as specified in
Section 23.4(c)(i).

“Pump Station Area” shall mean the areas shown on Schedule
25.11(b) as “CA TO GRANT TITLE TO SUFFOLK COUNTY.”

“Purchase and Sale Agreement” shall mean the Purchase and Sale
Agreement, dated as of the Effective Date, between CA, Inc., as seller, and the
Lessor named herein, as purchaser.

“Purchase Price” shall have the meaning as specified in Section
23.4(c)(i).

“Qualified Depositary” shall have the meaning as specified in
Section 19.20.

“Recognition Agreement” means that
certain Recognition Agreement, dated as of the Effective Date, between
Remainderman and Lessee, to be recorded in the land records of the Property.

 11
 

 

 

“Related Party Transfer” shall have the meaning given such term in
Section 23.3(d).

“Remainderman” shall mean Islandia Operators LLC, a Delaware limited
liability company, and its successors and assigns as the holder of the Remainder
Interest, provided the foregoing shall not be deemed Lessee’s consent to any
assignment, succession or other transfer of any sort whatsoever not otherwise
permitted under this Lease.

“Remainder Interest” shall mean the entire fee estate in the Property
other than the Estate for Years, granted pursuant to deed by Lessee to Islandia
Operators LLC, dated as of the Effective Date, the possessory estate under
which will commence without further action immediately upon the Estate for
Years Expiration Date (subject to this Lease and other Permitted Liens).

“Remaining Parcel” shall have the meaning given such term in Section
25.11(c).

“Remedial Work” shall have the meaning specified in Section 11.2.

“Remedy Exercise” shall have the meaning as specified in Section
23.4(b)(iii).

“Remedy Exercising Party” shall have the meaning as specified in
Section 23.4(b)(iii).

“Removal Cost” shall have the meaning specified in Section 9.5(b).

“Renewal Option Exercise Cut-off Date” shall have the meaning set
forth in Section 5.2.

“Renewal Term” shall have the meaning specified in Section 5.1.

“Renewal Term Rent Determination Request” shall have the meaning
specified in Section 5.4(b).

“Rent” shall mean Base Net Rent and Supplemental Rent, collectively.

“Rent Payment Dates” shall have the meaning specified in Section
3.1(c).

“Replacement Parts” shall have the meaning specified in Section 9.2.

“Retained Fixtures” shall have the meaning given such term in the
Purchase and Sale Agreement.

“Second Renewal Term” shall have the meaning specified in Section
5.1.

“Special-Purpose Covenants” shall
have the meaning given such term in Section 23.2.

 12
 

 

 

“Stipulated Rate” shall have the meaning given such term in Section
3.4.

“Subject Sale” shall have the meaning as specified in Section 23.3(d)(ii).

“Sublease” shall have the meaning given in such term in Section
16.1,

“Supplemental Rent” shall mean any and all amounts, liabilities and
obligations other than Base Net Rent which Lessee is obligated to pay under
this Lease (whether or not designated as Supplemental Rent) to Lessor or any
other party, including all Covered Taxes for which Lessee is responsible under
the Lease, premiums for all policies of insurance required hereunder, and all
utilities, water and sewer rents and similar charges to the extent attributable
to the Term.

“Taxes” shall mean any and all present or future liabilities,
losses, expenses and costs of any kind whatsoever that are fees (including
license fees, documentation fees and registration fees), taxes (including
property, ad valorem, real estate, income, gross or net income, gross or net
receipts, sales, use, value added, franchise, business, transfer, capital
property (tangible and intangible), municipal assessments, excise and stamp
taxes and sewer and water rents), levies, imposts, duties, charges, assessments
or withholdings, together with any penalties, fines or interest thereon or
addition thereto (any of the foregoing being referred to herein individually as
a “Tax”).

“Taxing Authority” shall have the meaning as specified in Section
20.3(a).

“Term” shall mean the Initial Term and any Renewal Terms as to which
Lessee exercises a renewal option pursuant to Section 5.1 or such shorter
period as may result from earlier termination of this Lease as provided herein.

“Third Renewal Term” shall have the meaning specified in Section
5.1.

“Title Insurance Company” shall mean Chicago Title Insurance
Company.

“Title Policy” shall mean the title insurance policy issued by the
Title Insurance Company to Lessor on the Effective Date.

“Toxic
Mold” shall mean any toxic mold or fungus of a type that may pose a risk to
human health or the environment or would negatively impact the value of the
Leased Property.

“TRIA”
shall mean the federal Terrorism Risk Insurance Extension Act of 2005.

“UCC” shall mean the Uniform Commercial Code of New York.

“Verifier” shall have the meaning
as specified in Section 20.2(f).

 13
 

 

 

Schedule 3.1

Base Net Rent for the Initial Term

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Payment Amount

  	
   

  
	
   

  	
   

  	
  Months

  	
   

  	
  Lease

  	
   

  	
  Monthly

  	
   

  	
  Annualized

  	
   

  
	
  Date

  	
   

  	
  Elapsed

  	
   

  	
  Year

  	
   

  	
  Base Rent

  	
   

  	
  Base Rent

  	
   

  
	
  8/15/2006

  	
   

  	
  0

  	
   

  	
   

  	
   

  	
  673,712.67

  	
   

  	
   

  	
   

  
	
  9/1/2006

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1,263,211.25

  	
   

  	
  15,158,535.00

  	
   

  
	
  10/1/2006

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1,263,211.25

  	
   

  	
  15,158,535.00

  	
   

  
	
  11/1/2006

  	
   

  	
  3

  	
   

  	
  1

  	
   

  	
  1,263,211.25

  	
   

  	
  15,158,535.00

  	
   

  
	
  12/1/2006

  	
   

  	
  4

  	
   

  	
  1

  	
   

  	
  1,263,211.25

  	
   

  	
  15,158,535.00

  	
   

  
	
  1/1/2007

  	
   

  	
  5

  	
   

  	
  1

  	
   

  	
  1,263,211.25

  	
   

  	
  15,158,535.00

  	
   

  
	
  2/1/2007

  	
   

  	
  6

  	
   

  	
  1

  	
   

  	
  1,263,211.25

  	
   

  	
  15,158,535.00

  	
   

  
	
  3/1/2007

  	
   

  	
  7

  	
   

  	
  1

  	
   

  	
  1,263,211.25

  	
   

  	
  15,158,535.00

  	
   

  
	
  4/1/2007

  	
   

  	
  8

  	
   

  	
  1

  	
   

  	
  1,263,211.25

  	
   

  	
  15,158,535.00

  	
   

  
	
  5/1/2007

  	
   

  	
  9

  	
   

  	
  1

  	
   

  	
  1,263,211.25

  	
   

  	
  15,158,535.00

  	
   

  
	
  6/1/2007

  	
   

  	
  10

  	
   

  	
  1

  	
   

  	
  1,263,211.25

  	
   

  	
  15,158,535.00

  	
   

  
	
  7/1/2007

  	
   

  	
  11

  	
   

  	
  1

  	
   

  	
  1,263,211.25

  	
   

  	
  15,158,535.00

  	
   

  
	
  8/1/2007

  	
   

  	
  12

  	
   

  	
  1

  	
   

  	
  1,263,211.25

  	
   

  	
  15,158,535.00

  	
   

  
	
  9/1/2007

  	
   

  	
  13

  	
   

  	
  2

  	
   

  	
  1,273,064.30

  	
   

  	
  15,276,771.57

  	
   

  
	
  10/1/2007

  	
   

  	
  14

  	
   

  	
  2

  	
   

  	
  1,273,064.30

  	
   

  	
  15,276,771.57

  	
   

  
	
  11/1/2007

  	
   

  	
  15

  	
   

  	
  2

  	
   

  	
  1,273,064.30

  	
   

  	
  15,276,771.57

  	
   

  
	
  12/1/2007

  	
   

  	
  16

  	
   

  	
  2

  	
   

  	
  1,273,064.30

  	
   

  	
  15,276,771.57

  	
   

  
	
  1/1/2008

  	
   

  	
  17

  	
   

  	
  2

  	
   

  	
  1,273,064.30

  	
   

  	
  15,276,771.57

  	
   

  
	
  2/1/2008

  	
   

  	
  18

  	
   

  	
  2

  	
   

  	
  1,273,064.30

  	
   

  	
  15,276,771.57

  	
   

  
	
  3/1/2008

  	
   

  	
  19

  	
   

  	
  2

  	
   

  	
  1,273,064.30

  	
   

  	
  15,276,771.57

  	
   

  
	
  4/1/2008

  	
   

  	
  20

  	
   

  	
  2

  	
   

  	
  1,273,064.30

  	
   

  	
  15,276,771.57

  	
   

  
	
  5/1/2008

  	
   

  	
  21

  	
   

  	
  2

  	
   

  	
  1,273,064.30

  	
   

  	
  15,276,771.57

  	
   

  
	
  6/1/2008

  	
   

  	
  22

  	
   

  	
  2

  	
   

  	
  1,273,064.30

  	
   

  	
  15,276,771.57

  	
   

  
	
  7/1/2008

  	
   

  	
  23

  	
   

  	
  2

  	
   

  	
  1,273,064.30

  	
   

  	
  15,276,771.57

  	
   

  
	
  8/1/2008

  	
   

  	
  24

  	
   

  	
  2

  	
   

  	
  1,273,064.30

  	
   

  	
  15,276,771.57

  	
   

  
	
  9/1/2008

  	
   

  	
  25

  	
   

  	
  3

  	
   

  	
  1,282,994.20

  	
   

  	
  15,395,930.39

  	
   

  
	
  10/1/2008

  	
   

  	
  26

  	
   

  	
  3

  	
   

  	
  1,282,994.20

  	
   

  	
  15,395,930.39

  	
   

  
	
  11/1/2008

  	
   

  	
  27

  	
   

  	
  3

  	
   

  	
  1,282,994.20

  	
   

  	
  15,395,930.39

  	
   

  
	
  12/1/2008

  	
   

  	
  28

  	
   

  	
  3

  	
   

  	
  1,282,994.20

  	
   

  	
  15,395,930.39

  	
   

  
	
  1/1/2009

  	
   

  	
  29

  	
   

  	
  3

  	
   

  	
  1,282,994.20

  	
   

  	
  15,395,930.39

  	
   

  
	
  2/1/2009

  	
   

  	
  30

  	
   

  	
  3

  	
   

  	
  1,282,994.20

  	
   

  	
  15,395,930.39

  	
   

  
	
  3/1/2009

  	
   

  	
  31

  	
   

  	
  3

  	
   

  	
  1,282,994.20

  	
   

  	
  15,395,930.39

  	
   

  
	
  4/1/2009

  	
   

  	
  32

  	
   

  	
  3

  	
   

  	
  1,282,994.20

  	
   

  	
  15,395,930.39

  	
   

  
	
  5/1/2009

  	
   

  	
  33

  	
   

  	
  3

  	
   

  	
  1,282,994.20

  	
   

  	
  15,395,930.39

  	
   

  
	
  6/1/2009

  	
   

  	
  34

  	
   

  	
  3

  	
   

  	
  1,282,994.20

  	
   

  	
  15,395,930.39

  	
   

  
	
  7/1/2009

  	
   

  	
  35

  	
   

  	
  3

  	
   

  	
  1,282,994.20

  	
   

  	
  15,395,930.39

  	
   

  
	
  8/1/2009

  	
   

  	
  36

  	
   

  	
  3

  	
   

  	
  1,282,994.20

  	
   

  	
  15,395,930.39

  	
   

  
	
  9/1/2009

  	
   

  	
  37

  	
   

  	
  4

  	
   

  	
  1,293,001.55

  	
   

  	
  15,516,018.65

  	
   

  
	
  10/1/2009

  	
   

  	
  38

  	
   

  	
  4

  	
   

  	
  1,293,001.55

  	
   

  	
  15,516,018.65

  	
   

  
	
  11/1/2009

  	
   

  	
  39

  	
   

  	
  4

  	
   

  	
  1,293,001.55

  	
   

  	
  15,516,018.65

  	
   

  
	
  12/1/2009

  	
   

  	
  40

  	
   

  	
  4

  	
   

  	
  1,293,001.55

  	
   

  	
  15,516,018.65

  	
   

  
	
  1/1/2010

  	
   

  	
  41

  	
   

  	
  4

  	
   

  	
  1,293,001.55

  	
   

  	
  15,516,018.65

  	
   

  
	
  2/1/2010

  	
   

  	
  42

  	
   

  	
  4

  	
   

  	
  1,293,001.55

  	
   

  	
  15,516,018.65

  	
   

  
	
  3/1/2010

  	
   

  	
  43

  	
   

  	
  4

  	
   

  	
  1,293,001.55

  	
   

  	
  15,516,018.65

  	
   

  
	
  4/1/2010

  	
   

  	
  44

  	
   

  	
  4

  	
   

  	
  1,293,001.55

  	
   

  	
  15,516,018.65

  	
   

  
	
  5/1/2010

  	
   

  	
  45

  	
   

  	
  4

  	
   

  	
  1,293,001.55

  	
   

  	
  15,516,018.65

  	
   

  
	
  6/1/2010

  	
   

  	
  46

  	
   

  	
  4

  	
   

  	
  1,293,001.55

  	
   

  	
  15,516,018.65

  	
   

  
	
  7/1/2010

  	
   

  	
  47

  	
   

  	
  4

  	
   

  	
  1,293,001.55

  	
   

  	
  15,516,018.65

  	
   

  

 

 14
 

 

 

	
  8/1/2010

  	
   

  	
  48

  	
   

  	
  4

  	
   

  	
  1,293,001.55

  	
   

  	
  15,516,018.65

  	
   

  
	
  9/1/2010

  	
   

  	
  49

  	
   

  	
  5

  	
   

  	
  1,303,086.97

  	
   

  	
  15,637,043.59

  	
   

  
	
  10/1/2010

  	
   

  	
  50

  	
   

  	
  5

  	
   

  	
  1,303,086.97

  	
   

  	
  15,637,043.59

  	
   

  
	
  11/1/2010

  	
   

  	
  51

  	
   

  	
  5

  	
   

  	
  1,303,086.97

  	
   

  	
  15,637,043.59

  	
   

  
	
  12/1/2010

  	
   

  	
  52

  	
   

  	
  5

  	
   

  	
  1,303,086.97

  	
   

  	
  15,637,043.59

  	
   

  
	
  1/1/2011

  	
   

  	
  53

  	
   

  	
  5

  	
   

  	
  1,303,086.97

  	
   

  	
  15,637,043.59

  	
   

  
	
  2/1/2011

  	
   

  	
  54

  	
   

  	
  5

  	
   

  	
  1,303,086.97

  	
   

  	
  15,637,043.59

  	
   

  
	
  3/1/2011

  	
   

  	
  55

  	
   

  	
  5

  	
   

  	
  1,303,086.97

  	
   

  	
  15,637,043.59

  	
   

  
	
  4/1/2011

  	
   

  	
  56

  	
   

  	
  5

  	
   

  	
  1,303,086.97

  	
   

  	
  15,637,043.59

  	
   

  
	
  5/1/2011

  	
   

  	
  57

  	
   

  	
  5

  	
   

  	
  1,303,086.97

  	
   

  	
  15,637,043.59

  	
   

  
	
  6/1/2011

  	
   

  	
  58

  	
   

  	
  5

  	
   

  	
  1,303,086.97

  	
   

  	
  15,637,043.59

  	
   

  
	
  7/1/2011

  	
   

  	
  59

  	
   

  	
  5

  	
   

  	
  1,303,086.97

  	
   

  	
  15,637,043.59

  	
   

  
	
  8/1/2011

  	
   

  	
  60

  	
   

  	
  5

  	
   

  	
  1,303,086.97

  	
   

  	
  15,637,043.59

  	
   

  
	
  9/1/2011

  	
   

  	
  61

  	
   

  	
  6

  	
   

  	
  1,313,251.04

  	
   

  	
  15,759,012.53

  	
   

  
	
  10/1/2011

  	
   

  	
  62

  	
   

  	
  6

  	
   

  	
  1,313,251.04

  	
   

  	
  15,759,012.53

  	
   

  
	
  11/1/2011

  	
   

  	
  63

  	
   

  	
  6

  	
   

  	
  1,313,251.04

  	
   

  	
  15,759,012.53

  	
   

  
	
  12/1/2011

  	
   

  	
  64

  	
   

  	
  6

  	
   

  	
  1,313,251.04

  	
   

  	
  15,759,012.53

  	
   

  
	
  1/1/2012

  	
   

  	
  65

  	
   

  	
  6

  	
   

  	
  1,313,251.04

  	
   

  	
  15,759,012.53

  	
   

  
	
  2/1/2012

  	
   

  	
  66

  	
   

  	
  6

  	
   

  	
  1,313,251.04

  	
   

  	
  15,759,012.53

  	
   

  
	
  3/1/2012

  	
   

  	
  67

  	
   

  	
  6

  	
   

  	
  1,313,251.04

  	
   

  	
  15,759,012.53

  	
   

  
	
  4/1/2012

  	
   

  	
  68

  	
   

  	
  6

  	
   

  	
  1,313,251.04

  	
   

  	
  15,759,012.53

  	
   

  
	
  5/1/2012

  	
   

  	
  69

  	
   

  	
  6

  	
   

  	
  1,313,251.04

  	
   

  	
  15,759,012.53

  	
   

  
	
  6/1/2012

  	
   

  	
  70

  	
   

  	
  6

  	
   

  	
  1,313,251.04

  	
   

  	
  15,759,012.53

  	
   

  
	
  7/1/2012

  	
   

  	
  71

  	
   

  	
  6

  	
   

  	
  1,313,251.04

  	
   

  	
  15,759,012.53

  	
   

  
	
  8/1/2012

  	
   

  	
  72

  	
   

  	
  6

  	
   

  	
  1,313,251.04

  	
   

  	
  15,759,012.53

  	
   

  
	
  9/1/2012

  	
   

  	
  73

  	
   

  	
  7

  	
   

  	
  1,323,494.40

  	
   

  	
  15,881,932.83

  	
   

  
	
  10/1/2012

  	
   

  	
  74

  	
   

  	
  7

  	
   

  	
  1,323,494.40

  	
   

  	
  15,881,932.83

  	
   

  
	
  11/1/2012

  	
   

  	
  75

  	
   

  	
  7

  	
   

  	
  1,323,494.40

  	
   

  	
  15,881,932.83

  	
   

  
	
  12/1/2012

  	
   

  	
  76

  	
   

  	
  7

  	
   

  	
  1,323,494.40

  	
   

  	
  15,881,932.83

  	
   

  
	
  1/1/2013

  	
   

  	
  77

  	
   

  	
  7

  	
   

  	
  1,323,494.40

  	
   

  	
  15,881,932.83

  	
   

  
	
  2/1/2013

  	
   

  	
  78

  	
   

  	
  7

  	
   

  	
  1,323,494.40

  	
   

  	
  15,881,932.83

  	
   

  
	
  3/1/2013

  	
   

  	
  79

  	
   

  	
  7

  	
   

  	
  1,323,494.40

  	
   

  	
  15,881,932.83

  	
   

  
	
  4/1/2013

  	
   

  	
  80

  	
   

  	
  7

  	
   

  	
  1,323,494.40

  	
   

  	
  15,881,932.83

  	
   

  
	
  5/1/2013

  	
   

  	
  81

  	
   

  	
  7

  	
   

  	
  1,323,494.40

  	
   

  	
  15,881,932.83

  	
   

  
	
  6/1/2013

  	
   

  	
  82

  	
   

  	
  7

  	
   

  	
  1,323,494.40

  	
   

  	
  15,881,932.83

  	
   

  
	
  7/1/2013

  	
   

  	
  83

  	
   

  	
  7

  	
   

  	
  1,323,494.40

  	
   

  	
  15,881,932.83

  	
   

  
	
  8/1/2013

  	
   

  	
  84

  	
   

  	
  7

  	
   

  	
  1,323,494.40

  	
   

  	
  15,881,932.83

  	
   

  
	
  9/1/2013

  	
   

  	
  85

  	
   

  	
  8

  	
   

  	
  1,333,817.66

  	
   

  	
  16,005,811.91

  	
   

  
	
  10/1/2013

  	
   

  	
  86

  	
   

  	
  8

  	
   

  	
  1,333,817.66

  	
   

  	
  16,005,811.91

  	
   

  
	
  11/1/2013

  	
   

  	
  87

  	
   

  	
  8

  	
   

  	
  1,333,817.66

  	
   

  	
  16,005,811.91

  	
   

  
	
  12/1/2013

  	
   

  	
  88

  	
   

  	
  8

  	
   

  	
  1,333,817.66

  	
   

  	
  16,005,811.91

  	
   

  
	
  1/1/2014

  	
   

  	
  89

  	
   

  	
  8

  	
   

  	
  1,333,817.66

  	
   

  	
  16,005,811.91

  	
   

  
	
  2/1/2014

  	
   

  	
  90

  	
   

  	
  8

  	
   

  	
  1,333,817.66

  	
   

  	
  16,005,811.91

  	
   

  
	
  3/1/2014

  	
   

  	
  91

  	
   

  	
  8

  	
   

  	
  1,333,817.66

  	
   

  	
  16,005,811.91

  	
   

  
	
  4/1/2014

  	
   

  	
  92

  	
   

  	
  8

  	
   

  	
  1,333,817.66

  	
   

  	
  16,005,811.91

  	
   

  
	
  5/1/2014

  	
   

  	
  93

  	
   

  	
  8

  	
   

  	
  1,333,817.66

  	
   

  	
  16,005,811.91

  	
   

  
	
  6/1/2014

  	
   

  	
  94

  	
   

  	
  8

  	
   

  	
  1,333,817.66

  	
   

  	
  16,005,811.91

  	
   

  
	
  7/1/2014

  	
   

  	
  95

  	
   

  	
  8

  	
   

  	
  1,333,817.66

  	
   

  	
  16,005,811.91

  	
   

  
	
  8/1/2014

  	
   

  	
  96

  	
   

  	
  8

  	
   

  	
  1,333,817.66

  	
   

  	
  16,005,811.91

  	
   

  
	
  9/1/2014

  	
   

  	
  97

  	
   

  	
  9

  	
   

  	
  1,344,221.44

  	
   

  	
  16,130,657.24

  	
   

  
	
  10/1/2014

  	
   

  	
  98

  	
   

  	
  9

  	
   

  	
  1,344,221.44

  	
   

  	
  16,130,657.24

  	
   

  
	
  11/1/2014

  	
   

  	
  99

  	
   

  	
  9

  	
   

  	
  1,344,221.44

  	
   

  	
  16,130,657.24

  	
   

  
	
  12/1/2014

  	
   

  	
  100

  	
   

  	
  9

  	
   

  	
  1,344,221.44

  	
   

  	
  16,130,657.24

  	
   

  
	
  1/1/2015

  	
   

  	
  101

  	
   

  	
  9

  	
   

  	
  1,344,221.44

  	
   

  	
  16,130,657.24

  	
   

  
	
  2/1/2015

  	
   

  	
  102

  	
   

  	
  9

  	
   

  	
  1,344,221.44

  	
   

  	
  16,130,657.24

  	
   

  
	
  3/1/2015

  	
   

  	
  103

  	
   

  	
  9

  	
   

  	
  1,344,221.44

  	
   

  	
  16,130,657.24

  	
   

  
	
  4/1/2015

  	
   

  	
  104

  	
   

  	
  9

  	
   

  	
  1,344,221.44

  	
   

  	
  16,130,657.24

  	
   

  
	
  5/1/2015

  	
   

  	
  105

  	
   

  	
  9

  	
   

  	
  1,344,221.44

  	
   

  	
  16,130,657.24

  	
   

  

 

 15
 

 

 

	
  6/1/2015

  	
   

  	
  106

  	
   

  	
  9

  	
   

  	
  1,344,221.44

  	
   

  	
  16,130,657.24

  	
   

  
	
  7/1/2015

  	
   

  	
  107

  	
   

  	
  9

  	
   

  	
  1,344,221.44

  	
   

  	
  16,130,657.24

  	
   

  
	
  8/1/2015

  	
   

  	
  108

  	
   

  	
  9

  	
   

  	
  1,344,221.44

  	
   

  	
  16,130,657.24

  	
   

  
	
  9/1/2015

  	
   

  	
  109

  	
   

  	
  10

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  10/1/2015

  	
   

  	
  110

  	
   

  	
  10

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  11/1/2015

  	
   

  	
  111

  	
   

  	
  10

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  12/1/2015

  	
   

  	
  112

  	
   

  	
  10

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  1/1/2016

  	
   

  	
  113

  	
   

  	
  10

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  2/1/2016

  	
   

  	
  114

  	
   

  	
  10

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  3/1/2016

  	
   

  	
  115

  	
   

  	
  10

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  4/1/2016

  	
   

  	
  116

  	
   

  	
  10

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  5/1/2016

  	
   

  	
  117

  	
   

  	
  10

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  6/1/2016

  	
   

  	
  118

  	
   

  	
  10

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  7/1/2016

  	
   

  	
  119

  	
   

  	
  10

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  8/1/2016

  	
   

  	
  120

  	
   

  	
  10

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  9/1/2016

  	
   

  	
  121

  	
   

  	
  11

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  10/1/2016

  	
   

  	
  122

  	
   

  	
  11

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  11/1/2016

  	
   

  	
  123

  	
   

  	
  11

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  12/1/2016

  	
   

  	
  124

  	
   

  	
  11

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  1/1/2017

  	
   

  	
  125

  	
   

  	
  11

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  2/1/2017

  	
   

  	
  126

  	
   

  	
  11

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  3/1/2017

  	
   

  	
  127

  	
   

  	
  11

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  4/1/2017

  	
   

  	
  128

  	
   

  	
  11

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  5/1/2017

  	
   

  	
  129

  	
   

  	
  11

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  6/1/2017

  	
   

  	
  130

  	
   

  	
  11

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  7/1/2017

  	
   

  	
  131

  	
   

  	
  11

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  8/1/2017

  	
   

  	
  132

  	
   

  	
  11

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  9/1/2017

  	
   

  	
  133

  	
   

  	
  12

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  10/1/2017

  	
   

  	
  134

  	
   

  	
  12

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  11/1/2017

  	
   

  	
  135

  	
   

  	
  12

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  12/1/2017

  	
   

  	
  136

  	
   

  	
  12

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  1/1/2018

  	
   

  	
  137

  	
   

  	
  12

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  2/1/2018

  	
   

  	
  138

  	
   

  	
  12

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  3/1/2018

  	
   

  	
  139

  	
   

  	
  12

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  4/1/2018

  	
   

  	
  140

  	
   

  	
  12

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  5/1/2018

  	
   

  	
  141

  	
   

  	
  12

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  6/1/2018

  	
   

  	
  142

  	
   

  	
  12

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  7/1/2018

  	
   

  	
  143

  	
   

  	
  12

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  8/1/2018

  	
   

  	
  144

  	
   

  	
  12

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  9/1/2018

  	
   

  	
  145

  	
   

  	
  13

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  10/1/2018

  	
   

  	
  146

  	
   

  	
  13

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  11/1/2018

  	
   

  	
  147

  	
   

  	
  13

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  12/1/2018

  	
   

  	
  148

  	
   

  	
  13

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  1/1/2019

  	
   

  	
  149

  	
   

  	
  13

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  2/1/2019

  	
   

  	
  150

  	
   

  	
  13

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  3/1/2019

  	
   

  	
  151

  	
   

  	
  13

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  4/1/2019

  	
   

  	
  152

  	
   

  	
  13

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  5/1/2019

  	
   

  	
  153

  	
   

  	
  13

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  6/1/2019

  	
   

  	
  154

  	
   

  	
  13

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  7/1/2019

  	
   

  	
  155

  	
   

  	
  13

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  8/1/2019

  	
   

  	
  156

  	
   

  	
  13

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  9/1/2019

  	
   

  	
  157

  	
   

  	
  14

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  10/1/2019

  	
   

  	
  158

  	
   

  	
  14

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  11/1/2019

  	
   

  	
  159

  	
   

  	
  14

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  12/1/2019

  	
   

  	
  160

  	
   

  	
  14

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  1/1/2020

  	
   

  	
  161

  	
   

  	
  14

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  2/1/2020

  	
   

  	
  162

  	
   

  	
  14

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  3/1/2020

  	
   

  	
  163

  	
   

  	
  14

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  

 

 16
 

 

 

	
  4/1/2020

  	
   

  	
  164

  	
   

  	
  14

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  5/1/2020

  	
   

  	
  165

  	
   

  	
  14

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  6/1/2020

  	
   

  	
  166

  	
   

  	
  14

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  7/1/2020

  	
   

  	
  167

  	
   

  	
  14

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  8/1/2020

  	
   

  	
  168

  	
   

  	
  14

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  9/1/2020

  	
   

  	
  169

  	
   

  	
  15

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  10/1/2020

  	
   

  	
  170

  	
   

  	
  15

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  11/1/2020

  	
   

  	
  171

  	
   

  	
  15

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  12/1/2020

  	
   

  	
  172

  	
   

  	
  15

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  1/1/2021

  	
   

  	
  173

  	
   

  	
  15

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  2/1/2021

  	
   

  	
  174

  	
   

  	
  15

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  3/1/2021

  	
   

  	
  175

  	
   

  	
  15

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  4/1/2021

  	
   

  	
  176

  	
   

  	
  15

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  5/1/2021

  	
   

  	
  177

  	
   

  	
  15

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  6/1/2021

  	
   

  	
  178

  	
   

  	
  15

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  7/1/2021

  	
   

  	
  179

  	
   

  	
  15

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  8/1/2021

  	
   

  	
  180

  	
   

  	
  15

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 17
 

 

 

Schedule 5.3-A

Base Net Rent for the
First Renewal Term assuming renewal on or prior to 10th

anniversary of the Effective Date

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Payment Amount

  	
   

  
	
  Payment

  	
   

  	
  Full Months

  	
   

  	
  Lease

  	
   

  	
  Montly

  	
   

  	
  Annual

  	
   

  
	
  Date

  	
   

  	
  Elapsed

  	
   

  	
  Year

  	
   

  	
  Rent

  	
   

  	
  Rent

  	
   

  
	
  9/1/2021

  	
   

  	
  181

  	
   

  	
  16

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  10/1/2021

  	
   

  	
  182

  	
   

  	
  16

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  11/1/2021

  	
   

  	
  183

  	
   

  	
  16

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  12/1/2021

  	
   

  	
  184

  	
   

  	
  16

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  1/1/2022

  	
   

  	
  185

  	
   

  	
  16

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  2/1/2022

  	
   

  	
  186

  	
   

  	
  16

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  3/1/2022

  	
   

  	
  187

  	
   

  	
  16

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  4/1/2022

  	
   

  	
  188

  	
   

  	
  16

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  5/1/2022

  	
   

  	
  189

  	
   

  	
  16

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  6/1/2022

  	
   

  	
  190

  	
   

  	
  16

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  7/1/2022

  	
   

  	
  191

  	
   

  	
  16

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  8/1/2022

  	
   

  	
  192

  	
   

  	
  16

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  9/1/2022

  	
   

  	
  193

  	
   

  	
  17

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  10/1/2022

  	
   

  	
  194

  	
   

  	
  17

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  11/1/2022

  	
   

  	
  195

  	
   

  	
  17

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  12/1/2022

  	
   

  	
  196

  	
   

  	
  17

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  1/1/2023

  	
   

  	
  197

  	
   

  	
  17

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  2/1/2023

  	
   

  	
  198

  	
   

  	
  17

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  3/1/2023

  	
   

  	
  199

  	
   

  	
  17

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  4/1/2023

  	
   

  	
  200

  	
   

  	
  17

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  5/1/2023

  	
   

  	
  201

  	
   

  	
  17

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  6/1/2023

  	
   

  	
  202

  	
   

  	
  17

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  7/1/2023

  	
   

  	
  203

  	
   

  	
  17

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  8/1/2023

  	
   

  	
  204

  	
   

  	
  17

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  9/1/2023

  	
   

  	
  205

  	
   

  	
  18

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  10/1/2023

  	
   

  	
  206

  	
   

  	
  18

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  11/1/2023

  	
   

  	
  207

  	
   

  	
  18

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  12/1/2023

  	
   

  	
  208

  	
   

  	
  18

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  1/1/2024

  	
   

  	
  209

  	
   

  	
  18

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  2/1/2024

  	
   

  	
  210

  	
   

  	
  18

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  3/1/2024

  	
   

  	
  211

  	
   

  	
  18

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  4/1/2024

  	
   

  	
  212

  	
   

  	
  18

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  5/1/2024

  	
   

  	
  213

  	
   

  	
  18

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  6/1/2024

  	
   

  	
  214

  	
   

  	
  18

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  7/1/2024

  	
   

  	
  215

  	
   

  	
  18

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  8/1/2024

  	
   

  	
  216

  	
   

  	
  18

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  9/1/2024

  	
   

  	
  217

  	
   

  	
  19

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  10/1/2024

  	
   

  	
  218

  	
   

  	
  19

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  11/1/2024

  	
   

  	
  219

  	
   

  	
  19

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  12/1/2024

  	
   

  	
  220

  	
   

  	
  19

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  1/1/2025

  	
   

  	
  221

  	
   

  	
  19

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  2/1/2025

  	
   

  	
  222

  	
   

  	
  19

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  3/1/2025

  	
   

  	
  223

  	
   

  	
  19

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  4/1/2025

  	
   

  	
  224

  	
   

  	
  19

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  5/1/2025

  	
   

  	
  225

  	
   

  	
  19

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  6/1/2025

  	
   

  	
  226

  	
   

  	
  19

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  7/1/2025

  	
   

  	
  227

  	
   

  	
  19

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  

 

 18
 

 

 

	
  8/1/2025

  	
   

  	
  228

  	
   

  	
  19

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  9/1/2025

  	
   

  	
  229

  	
   

  	
  20

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  10/1/2025

  	
   

  	
  230

  	
   

  	
  20

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  11/1/2025

  	
   

  	
  231

  	
   

  	
  20

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  12/1/2025

  	
   

  	
  232

  	
   

  	
  20

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  1/1/2026

  	
   

  	
  233

  	
   

  	
  20

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  2/1/2026

  	
   

  	
  234

  	
   

  	
  20

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  3/1/2026

  	
   

  	
  235

  	
   

  	
  20

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  4/1/2026

  	
   

  	
  236

  	
   

  	
  20

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  5/1/2026

  	
   

  	
  237

  	
   

  	
  20

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  6/1/2026

  	
   

  	
  238

  	
   

  	
  20

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  7/1/2026

  	
   

  	
  239

  	
   

  	
  20

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  8/1/2026

  	
   

  	
  240

  	
   

  	
  20

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  9/1/2026

  	
   

  	
  241

  	
   

  	
  21

  	
   

  	
  1,416,822.68

  	
   

  	
  17,001,872.14

  	
   

  
	
  10/1/2026

  	
   

  	
  242

  	
   

  	
  21

  	
   

  	
  1,416,822.68

  	
   

  	
  17,001,872.14

  	
   

  
	
  11/1/2026

  	
   

  	
  243

  	
   

  	
  21

  	
   

  	
  1,416,822.68

  	
   

  	
  17,001,872.14

  	
   

  
	
  12/1/2026

  	
   

  	
  244

  	
   

  	
  21

  	
   

  	
  1,416,822.68

  	
   

  	
  17,001,872.14

  	
   

  
	
  1/1/2027

  	
   

  	
  245

  	
   

  	
  21

  	
   

  	
  1,416,822.68

  	
   

  	
  17,001,872.14

  	
   

  
	
  2/1/2027

  	
   

  	
  246

  	
   

  	
  21

  	
   

  	
  1,416,822.68

  	
   

  	
  17,001,872.14

  	
   

  
	
  3/1/2027

  	
   

  	
  247

  	
   

  	
  21

  	
   

  	
  1,416,822.68

  	
   

  	
  17,001,872.14

  	
   

  
	
  4/1/2027

  	
   

  	
  248

  	
   

  	
  21

  	
   

  	
  1,416,822.68

  	
   

  	
  17,001,872.14

  	
   

  
	
  5/1/2027

  	
   

  	
  249

  	
   

  	
  21

  	
   

  	
  1,416,822.68

  	
   

  	
  17,001,872.14

  	
   

  
	
  6/1/2027

  	
   

  	
  250

  	
   

  	
  21

  	
   

  	
  1,416,822.68

  	
   

  	
  17,001,872.14

  	
   

  
	
  7/1/2027

  	
   

  	
  251

  	
   

  	
  21

  	
   

  	
  1,416,822.68

  	
   

  	
  17,001,872.14

  	
   

  
	
  8/1/2027

  	
   

  	
  252

  	
   

  	
  21

  	
   

  	
  1,416,822.68

  	
   

  	
  17,001,872.14

  	
   

  
	
  9/1/2027

  	
   

  	
  253

  	
   

  	
  22

  	
   

  	
  1,427,448.85

  	
   

  	
  17,129,386.18

  	
   

  
	
  10/1/2027

  	
   

  	
  254

  	
   

  	
  22

  	
   

  	
  1,427,448.85

  	
   

  	
  17,129,386.18

  	
   

  
	
  11/1/2027

  	
   

  	
  255

  	
   

  	
  22

  	
   

  	
  1,427,448.85

  	
   

  	
  17,129,386.18

  	
   

  
	
  12/1/2027

  	
   

  	
  256

  	
   

  	
  22

  	
   

  	
  1,427,448.85

  	
   

  	
  17,129,386.18

  	
   

  
	
  1/1/2028

  	
   

  	
  257

  	
   

  	
  22

  	
   

  	
  1,427,448.85

  	
   

  	
  17,129,386.18

  	
   

  
	
  2/1/2028

  	
   

  	
  258

  	
   

  	
  22

  	
   

  	
  1,427,448.85

  	
   

  	
  17,129,386.18

  	
   

  
	
  3/1/2028

  	
   

  	
  259

  	
   

  	
  22

  	
   

  	
  1,427,448.85

  	
   

  	
  17,129,386.18

  	
   

  
	
  4/1/2028

  	
   

  	
  260

  	
   

  	
  22

  	
   

  	
  1,427,448.85

  	
   

  	
  17,129,386.18

  	
   

  
	
  5/1/2028

  	
   

  	
  261

  	
   

  	
  22

  	
   

  	
  1,427,448.85

  	
   

  	
  17,129,386.18

  	
   

  
	
  6/1/2028

  	
   

  	
  262

  	
   

  	
  22

  	
   

  	
  1,427,448.85

  	
   

  	
  17,129,386.18

  	
   

  
	
  7/1/2028

  	
   

  	
  263

  	
   

  	
  22

  	
   

  	
  1,427,448.85

  	
   

  	
  17,129,386.18

  	
   

  
	
  8/1/2028

  	
   

  	
  264

  	
   

  	
  22

  	
   

  	
  1,427,448.85

  	
   

  	
  17,129,386.18

  	
   

  
	
  9/1/2028

  	
   

  	
  265

  	
   

  	
  23

  	
   

  	
  1,438,154.72

  	
   

  	
  17,257,856.58

  	
   

  
	
  10/1/2028

  	
   

  	
  266

  	
   

  	
  23

  	
   

  	
  1,438,154.72

  	
   

  	
  17,257,856.58

  	
   

  
	
  11/1/2028

  	
   

  	
  267

  	
   

  	
  23

  	
   

  	
  1,438,154.72

  	
   

  	
  17,257,856.58

  	
   

  
	
  12/1/2028

  	
   

  	
  268

  	
   

  	
  23

  	
   

  	
  1,438,154.72

  	
   

  	
  17,257,856.58

  	
   

  
	
  1/1/2029

  	
   

  	
  269

  	
   

  	
  23

  	
   

  	
  1,438,154.72

  	
   

  	
  17,257,856.58

  	
   

  
	
  2/1/2029

  	
   

  	
  270

  	
   

  	
  23

  	
   

  	
  1,438,154.72

  	
   

  	
  17,257,856.58

  	
   

  
	
  3/1/2029

  	
   

  	
  271

  	
   

  	
  23

  	
   

  	
  1,438,154.72

  	
   

  	
  17,257,856.58

  	
   

  
	
  4/1/2029

  	
   

  	
  272

  	
   

  	
  23

  	
   

  	
  1,438,154.72

  	
   

  	
  17,257,856.58

  	
   

  
	
  5/1/2029

  	
   

  	
  273

  	
   

  	
  23

  	
   

  	
  1,438,154.72

  	
   

  	
  17,257,856.58

  	
   

  
	
  6/1/2029

  	
   

  	
  274

  	
   

  	
  23

  	
   

  	
  1,438,154.72

  	
   

  	
  17,257,856.58

  	
   

  

 

 19
 

 

 

	
  7/1/2029

  	
   

  	
  275

  	
   

  	
  23

  	
   

  	
  1,438,154.72

  	
   

  	
  17,257,856.58

  	
   

  
	
  8/1/2029

  	
   

  	
  276

  	
   

  	
  23

  	
   

  	
  1,438,154.72

  	
   

  	
  17,257,856.58

  	
   

  
	
  9/1/2029

  	
   

  	
  277

  	
   

  	
  24

  	
   

  	
  1,448,940.88

  	
   

  	
  17,387,290.51

  	
   

  
	
  10/1/2029

  	
   

  	
  278

  	
   

  	
  24

  	
   

  	
  1,448,940.88

  	
   

  	
  17,387,290.51

  	
   

  
	
  11/1/2029

  	
   

  	
  279

  	
   

  	
  24

  	
   

  	
  1,448,940.88

  	
   

  	
  17,387,290.51

  	
   

  
	
  12/1/2029

  	
   

  	
  280

  	
   

  	
  24

  	
   

  	
  1,448,940.88

  	
   

  	
  17,387,290.51

  	
   

  
	
  1/1/2030

  	
   

  	
  281

  	
   

  	
  24

  	
   

  	
  1,448,940.88

  	
   

  	
  17,387,290.51

  	
   

  
	
  2/1/2030

  	
   

  	
  282

  	
   

  	
  24

  	
   

  	
  1,448,940.88

  	
   

  	
  17,387,290.51

  	
   

  
	
  3/1/2030

  	
   

  	
  283

  	
   

  	
  24

  	
   

  	
  1,448,940.88

  	
   

  	
  17,387,290.51

  	
   

  
	
  4/1/2030

  	
   

  	
  284

  	
   

  	
  24

  	
   

  	
  1,448,940.88

  	
   

  	
  17,387,290.51

  	
   

  
	
  5/1/2030

  	
   

  	
  285

  	
   

  	
  24

  	
   

  	
  1,448,940.88

  	
   

  	
  17,387,290.51

  	
   

  
	
  6/1/2030

  	
   

  	
  286

  	
   

  	
  24

  	
   

  	
  1,448,940.88

  	
   

  	
  17,387,290.51

  	
   

  
	
  7/1/2030

  	
   

  	
  287

  	
   

  	
  24

  	
   

  	
  1,448,940.88

  	
   

  	
  17,387,290.51

  	
   

  
	
  8/1/2030

  	
   

  	
  288

  	
   

  	
  24

  	
   

  	
  1,448,940.88

  	
   

  	
  17,387,290.51

  	
   

  
	
  9/1/2030

  	
   

  	
  289

  	
   

  	
  25

  	
   

  	
  1,459,807.93

  	
   

  	
  17,517,695.18

  	
   

  
	
  10/1/2030

  	
   

  	
  290

  	
   

  	
  25

  	
   

  	
  1,459,807.93

  	
   

  	
  17,517,695.18

  	
   

  
	
  11/1/2030

  	
   

  	
  291

  	
   

  	
  25

  	
   

  	
  1,459,807.93

  	
   

  	
  17,517,695.18

  	
   

  
	
  12/1/2030

  	
   

  	
  292

  	
   

  	
  25

  	
   

  	
  1,459,807.93

  	
   

  	
  17,517,695.18

  	
   

  
	
  1/1/2031

  	
   

  	
  293

  	
   

  	
  25

  	
   

  	
  1,459,807.93

  	
   

  	
  17,517,695.18

  	
   

  
	
  2/1/2031

  	
   

  	
  294

  	
   

  	
  25

  	
   

  	
  1,459,807.93

  	
   

  	
  17,517,695.18

  	
   

  
	
  3/1/2031

  	
   

  	
  295

  	
   

  	
  25

  	
   

  	
  1,459,807.93

  	
   

  	
  17,517,695.18

  	
   

  
	
  4/1/2031

  	
   

  	
  296

  	
   

  	
  25

  	
   

  	
  1,459,807.93

  	
   

  	
  17,517,695.18

  	
   

  
	
  5/1/2031

  	
   

  	
  297

  	
   

  	
  25

  	
   

  	
  1,459,807.93

  	
   

  	
  17,517,695.18

  	
   

  
	
  6/1/2031

  	
   

  	
  298

  	
   

  	
  25

  	
   

  	
  1,459,807.93

  	
   

  	
  17,517,695.18

  	
   

  
	
  7/1/2031

  	
   

  	
  299

  	
   

  	
  25

  	
   

  	
  1,459,807.93

  	
   

  	
  17,517,695.18

  	
   

  
	
  8/1/2031

  	
   

  	
  300

  	
   

  	
  25

  	
   

  	
  1,459,807.93

  	
   

  	
  17,517,695.18

  	
   

  

 

 20

 

 

 

Schedule 5.3-B

Base Net Rent for the
First Renewal Term assuming renewal subsequent to 10th 

anniversary of the Effective Date

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Payment Amount

  	
   

  
	
  Payment

  	
   

  	
  Full Months

  	
   

  	
  Lease

  	
   

  	
  Montly

  	
   

  	
  Annual

  	
   

  
	
  Date

  	
   

  	
  Elapsed

  	
   

  	
  Year

  	
   

  	
  Rent

  	
   

  	
  Rent

  	
   

  
	
  9/1/2021

  	
   

  	
  181

  	
   

  	
  16

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  10/1/2021

  	
   

  	
  182

  	
   

  	
  16

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  11/1/2021

  	
   

  	
  183

  	
   

  	
  16

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  12/1/2021

  	
   

  	
  184

  	
   

  	
  16

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  1/1/2022

  	
   

  	
  185

  	
   

  	
  16

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  2/1/2022

  	
   

  	
  186

  	
   

  	
  16

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  3/1/2022

  	
   

  	
  187

  	
   

  	
  16

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  4/1/2022

  	
   

  	
  188

  	
   

  	
  16

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  5/1/2022

  	
   

  	
  189

  	
   

  	
  16

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  6/1/2022

  	
   

  	
  190

  	
   

  	
  16

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  7/1/2022

  	
   

  	
  191

  	
   

  	
  16

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  8/1/2022

  	
   

  	
  192

  	
   

  	
  16

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  9/1/2022

  	
   

  	
  193

  	
   

  	
  17

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  10/1/2022

  	
   

  	
  194

  	
   

  	
  17

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  11/1/2022

  	
   

  	
  195

  	
   

  	
  17

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  12/1/2022

  	
   

  	
  196

  	
   

  	
  17

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  1/1/2023

  	
   

  	
  197

  	
   

  	
  17

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  2/1/2023

  	
   

  	
  198

  	
   

  	
  17

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  3/1/2023

  	
   

  	
  199

  	
   

  	
  17

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  4/1/2023

  	
   

  	
  200

  	
   

  	
  17

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  5/1/2023

  	
   

  	
  201

  	
   

  	
  17

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  6/1/2023

  	
   

  	
  202

  	
   

  	
  17

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  7/1/2023

  	
   

  	
  203

  	
   

  	
  17

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  8/1/2023

  	
   

  	
  204

  	
   

  	
  17

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  9/1/2023

  	
   

  	
  205

  	
   

  	
  18

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  10/1/2023

  	
   

  	
  206

  	
   

  	
  18

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  11/1/2023

  	
   

  	
  207

  	
   

  	
  18

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  12/1/2023

  	
   

  	
  208

  	
   

  	
  18

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  1/1/2024

  	
   

  	
  209

  	
   

  	
  18

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  2/1/2024

  	
   

  	
  210

  	
   

  	
  18

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  3/1/2024

  	
   

  	
  211

  	
   

  	
  18

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  4/1/2024

  	
   

  	
  212

  	
   

  	
  18

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  5/1/2024

  	
   

  	
  213

  	
   

  	
  18

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  6/1/2024

  	
   

  	
  214

  	
   

  	
  18

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  7/1/2024

  	
   

  	
  215

  	
   

  	
  18

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  8/1/2024

  	
   

  	
  216

  	
   

  	
  18

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  9/1/2024

  	
   

  	
  217

  	
   

  	
  19

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  10/1/2024

  	
   

  	
  218

  	
   

  	
  19

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  11/1/2024

  	
   

  	
  219

  	
   

  	
  19

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  12/1/2024

  	
   

  	
  220

  	
   

  	
  19

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  1/1/2025

  	
   

  	
  221

  	
   

  	
  19

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  2/1/2025

  	
   

  	
  222

  	
   

  	
  19

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  3/1/2025

  	
   

  	
  223

  	
   

  	
  19

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  4/1/2025

  	
   

  	
  224

  	
   

  	
  19

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  5/1/2025

  	
   

  	
  225

  	
   

  	
  19

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  6/1/2025

  	
   

  	
  226

  	
   

  	
  19

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  7/1/2025

  	
   

  	
  227

  	
   

  	
  19

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  

 

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Payment Amount

  	
   

  	
   

  	
   

  
	
  Payment

  	
   

  	
  Full Months

  	
   

  	
  Lease

  	
   

  	
  Montly

  	
   

  	
  Annual

  	
   

  
	
  Date

  	
   

  	
  Elapsed

  	
   

  	
  Year

  	
   

  	
  Rent

  	
   

  	
  Rent

  	
   

  
	
  8/1/2025

  	
   

  	
  228

  	
   

  	
  19

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  9/1/2025

  	
   

  	
  229

  	
   

  	
  20

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  10/1/2025

  	
   

  	
  230

  	
   

  	
  20

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  11/1/2025

  	
   

  	
  231

  	
   

  	
  20

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  12/1/2025

  	
   

  	
  232

  	
   

  	
  20

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  1/1/2026

  	
   

  	
  233

  	
   

  	
  20

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  2/1/2026

  	
   

  	
  234

  	
   

  	
  20

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  3/1/2026

  	
   

  	
  235

  	
   

  	
  20

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  4/1/2026

  	
   

  	
  236

  	
   

  	
  20

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  5/1/2026

  	
   

  	
  237

  	
   

  	
  20

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  6/1/2026

  	
   

  	
  238

  	
   

  	
  20

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  7/1/2026

  	
   

  	
  239

  	
   

  	
  20

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  8/1/2026

  	
   

  	
  240

  	
   

  	
  20

  	
   

  	
  1,354,706.36

  	
   

  	
  16,256,476.37

  	
   

  
	
  9/1/2026

  	
   

  	
  241

  	
   

  	
  21

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  10/1/2026

  	
   

  	
  242

  	
   

  	
  21

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  11/1/2026

  	
   

  	
  243

  	
   

  	
  21

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  12/1/2026

  	
   

  	
  244

  	
   

  	
  21

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  1/1/2027

  	
   

  	
  245

  	
   

  	
  21

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  2/1/2027

  	
   

  	
  246

  	
   

  	
  21

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  3/1/2027

  	
   

  	
  247

  	
   

  	
  21

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  4/1/2027

  	
   

  	
  248

  	
   

  	
  21

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  5/1/2027

  	
   

  	
  249

  	
   

  	
  21

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  6/1/2027

  	
   

  	
  250

  	
   

  	
  21

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  7/1/2027

  	
   

  	
  251

  	
   

  	
  21

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  8/1/2027

  	
   

  	
  252

  	
   

  	
  21

  	
   

  	
  1,364,866.66

  	
   

  	
  16,378,399.94

  	
   

  
	
  9/1/2027

  	
   

  	
  253

  	
   

  	
  22

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  10/1/2027

  	
   

  	
  254

  	
   

  	
  22

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  11/1/2027

  	
   

  	
  255

  	
   

  	
  22

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  12/1/2027

  	
   

  	
  256

  	
   

  	
  22

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  1/1/2028

  	
   

  	
  257

  	
   

  	
  22

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  2/1/2028

  	
   

  	
  258

  	
   

  	
  22

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  3/1/2028

  	
   

  	
  259

  	
   

  	
  22

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  4/1/2028

  	
   

  	
  260

  	
   

  	
  22

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  5/1/2028

  	
   

  	
  261

  	
   

  	
  22

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  6/1/2028

  	
   

  	
  262

  	
   

  	
  22

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  7/1/2028

  	
   

  	
  263

  	
   

  	
  22

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  8/1/2028

  	
   

  	
  264

  	
   

  	
  22

  	
   

  	
  1,375,103.16

  	
   

  	
  16,501,237.94

  	
   

  
	
  9/1/2028

  	
   

  	
  265

  	
   

  	
  23

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  10/1/2028

  	
   

  	
  266

  	
   

  	
  23

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  11/1/2028

  	
   

  	
  267

  	
   

  	
  23

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  12/1/2028

  	
   

  	
  268

  	
   

  	
  23

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  1/1/2029

  	
   

  	
  269

  	
   

  	
  23

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  2/1/2029

  	
   

  	
  270

  	
   

  	
  23

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  3/1/2029

  	
   

  	
  271

  	
   

  	
  23

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  4/1/2029

  	
   

  	
  272

  	
   

  	
  23

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  5/1/2029

  	
   

  	
  273

  	
   

  	
  23

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  6/1/2029

  	
   

  	
  274

  	
   

  	
  23

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  

 

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Payment Amount

  	
   

  
	
  Payment

  	
   

  	
  Full Months

  	
   

  	
  Lease

  	
   

  	
  Montly

  	
   

  	
  Annual

  	
   

  
	
  Date

  	
   

  	
  Elapsed

  	
   

  	
  Year

  	
   

  	
  Rent

  	
   

  	
  Rent

  	
   

  
	
  7/1/2029

  	
   

  	
  275

  	
   

  	
  23

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  8/1/2029

  	
   

  	
  276

  	
   

  	
  23

  	
   

  	
  1,385,416.44

  	
   

  	
  16,624,997.22

  	
   

  
	
  9/1/2029

  	
   

  	
  277

  	
   

  	
  24

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  10/1/2029

  	
   

  	
  278

  	
   

  	
  24

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  11/1/2029

  	
   

  	
  279

  	
   

  	
  24

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  12/1/2029

  	
   

  	
  280

  	
   

  	
  24

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  1/1/2030

  	
   

  	
  281

  	
   

  	
  24

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  2/1/2030

  	
   

  	
  282

  	
   

  	
  24

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  3/1/2030

  	
   

  	
  283

  	
   

  	
  24

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  4/1/2030

  	
   

  	
  284

  	
   

  	
  24

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  5/1/2030

  	
   

  	
  285

  	
   

  	
  24

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  6/1/2030

  	
   

  	
  286

  	
   

  	
  24

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  7/1/2030

  	
   

  	
  287

  	
   

  	
  24

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  8/1/2030

  	
   

  	
  288

  	
   

  	
  24

  	
   

  	
  1,395,807.06

  	
   

  	
  16,749,684.70

  	
   

  
	
  9/1/2030

  	
   

  	
  289

  	
   

  	
  25

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  10/1/2030

  	
   

  	
  290

  	
   

  	
  25

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  11/1/2030

  	
   

  	
  291

  	
   

  	
  25

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  12/1/2030

  	
   

  	
  292

  	
   

  	
  25

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  1/1/2031

  	
   

  	
  293

  	
   

  	
  25

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  2/1/2031

  	
   

  	
  294

  	
   

  	
  25

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  3/1/2031

  	
   

  	
  295

  	
   

  	
  25

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  4/1/2031

  	
   

  	
  296

  	
   

  	
  25

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  5/1/2031

  	
   

  	
  297

  	
   

  	
  25

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  6/1/2031

  	
   

  	
  298

  	
   

  	
  25

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  7/1/2031

  	
   

  	
  299

  	
   

  	
  25

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  
	
  8/1/2031

  	
   

  	
  300

  	
   

  	
  25

  	
   

  	
  1,406,275.61

  	
   

  	
  16,875,307.34

  	
   

  

 

EXHIBIT A

DESCRIPTION OF LAND

	
  [As
  executed, the legal description in metes and bounds, but for purposes of this
  filing,

  the land commonly known as One CA Plaza, Islandia, NY 11749.]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}]]