Document:

Exhibit

Exhibit 10.22
CARRIZO OIL & GAS, INC.
CASH-SETTLED STOCK APPRECIATION RIGHTS PLAN
EMPLOYEE STOCK APPRECIATION RIGHTS AGREEMENT 
(Officer)
THIS AGREEMENT (“Agreement”) is effective as of _____ ___, 20___ (the “Grant Date”), by and between Carrizo Oil & Gas, Inc., a Texas corporation (the “Company”), and ____________ (the “Grantee”).
The Company has adopted the Carrizo Oil & Gas, Inc. Cash-Settled Stock Appreciation Rights Plan (as amended, modified or supplemented from time to time, the “Plan”), by this reference made a part hereof, for the benefit of eligible employees, directors and independent contractors of the Company and its Subsidiaries.  Capitalized terms used and not otherwise defined herein shall have the meaning ascribed thereto in the Plan.
Pursuant to the Plan, the Committee, which has generally been assigned responsibility for administering the Plan, has determined that it would be in the interest of the Company and its stockholders to grant the stock appreciation rights provided herein in order to provide Grantee with additional remuneration for services rendered, to encourage Grantee to remain in the employ of the Company or its Subsidiaries and to increase Grantee’s personal interest in the continued success and progress of the Company.
The Company and Grantee therefore agree as follows:
1.Grant of SAR.  Subject to the terms and conditions herein, the Company hereby awards to the Grantee, pursuant to the Plan, during the period commencing on the Grant Date and expiring at 5:00 p.m. Houston, Texas time (“Close of Business”) on ___________, 20___ (the “SAR Term”), subject to earlier termination pursuant to paragraph 5 below, a stock appreciation right with respect to the number of shares of Company Common Stock (“Common Stock”) set forth on Schedule 1 hereto (the “SAR Shares”) with an exercise price set forth on Schedule 1 (the “Exercise Price”).  The Exercise Price and SAR Shares are subject to adjustment pursuant to the Plan.  This stock appreciation right is hereinafter referred to as the “SAR.”
2.    Vesting Schedule.  The SAR is exercisable only in accordance with the conditions stated in this paragraph.
(a)    Except as otherwise provided in this subparagraph (a), the SAR may only be exercised to the extent the SAR has become vested in accordance with the following schedule (each date, a “Vesting Date”), provided, however, that the SAR shall not become vested unless the Committee has certified that [Describe Performance Condition] (the “Performance Condition”).  If the Committee does not certify that the Performance Condition was achieved, the SAR shall be forfeited in its entirety.

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	Vesting Date
	Percentage of  
SAR Shares 
(rounded up to nearest whole number)

	_____ __, 20__
	___%

	_____ __, 20__
	___%

Notwithstanding the foregoing, subject to the provisions of any applicable written employment agreement between the Grantee and the Company or any Subsidiary (the “Employment Agreement”), the SAR will not vest if Grantee has not remained in the continuous employment with the Company or any Subsidiary (or the successor of any such company) through each Vesting Date.  
(b)    To the extent the SAR becomes exercisable, the SAR may be exercised in whole or in part (at any time or from time to time, except as otherwise provided herein) until expiration of the SAR Term or earlier termination thereof.
3.    Manner of Exercise.  The SAR shall be considered exercised (as to the number of SAR Shares specified in the notice referred to in subparagraph (a) below) on the latest of (i) the date of exercise designated in the written notice referred to in subparagraph (a) below, (ii) if the date so designated is not a business day, the first business day following such date or (iii) the earliest business day by which the Company has received all of the following:
(a)    Written notice, in such form as the Committee may require, designating, among other things, the date of exercise and the number of SAR Shares with respect to which the SAR is to be exercised; and
(b)    Any other documentation that the Committee may reasonably require.
4.    Payment by the Company.  As soon as practicable after receipt of all items referred to in paragraph 3, and subject to the withholding referred to in paragraph 7, the Company shall deliver to the Grantee an amount, in cash, equal to the product of (i) the number of SAR Shares with respect to which the SAR was exercised and (ii) the difference between (A) the Fair Market Value per share of Common Stock on the date of exercise and (B) the Exercise Price.
5.    Termination of Employment.  Unless otherwise determined by the Committee in its sole discretion, the SAR shall terminate, prior to the expiration of the SAR Term, at the time specified below:
(a)    If Grantee’s employment with the Company and its Subsidiaries is terminated by death, by the Grantee voluntarily, or by the Company or a Subsidiary without cause (as determined by the Committee in its sole discretion) or, if Grantee is party to any Employment Agreement, without Cause (as defined in such Employment Agreement), then the SAR shall terminate at the Close of Business on the first business day following the expiration of the 90-day period which began on the date of termination of Grantee’s employment; or

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(b)    If Grantee’s employment with the Company and its Subsidiaries is terminated by the Company or a Subsidiary for cause (as determined by the Committee in its sole discretion) or, if Grantee is party to any Employment Agreement, for Cause (as defined in such Employment Agreement), then the SAR shall terminate immediately upon termination of Grantee’s employment.
In any event in which the SAR remains exercisable for a period of time following the date of termination of Grantee’s employment, the SAR may be exercised during such period of time only to the extent it is vested as provided in paragraph 2.  Notwithstanding any period of time referenced in this paragraph 5 or any other provision of this paragraph 5 that may be construed to the contrary, the SAR shall in any event terminate upon the expiration of the SAR Term.
6.    No Stockholder Rights.  The Grantee shall not be deemed for any purpose to be, or to have any of the rights of, a stockholder of the Company with respect to any shares of Common Stock as to which this Agreement relates.  
7.    Mandatory Withholding for Taxes.  Grantee acknowledges and agrees that the Company shall deduct from the cash otherwise payable or deliverable upon exercise of the SAR an amount of cash that is equal to the amount of all federal, state and local taxes required to be withheld by the Company upon such exercise, as determined by the Committee. 
8.    Restrictions Imposed by Law.  Without limiting the generality of Section 13 of the Plan, the Grantee agrees that Grantee will not exercise the SAR and that the Company will not be obligated to deliver any payment, if counsel to the Company determines that such exercise or payment would violate any applicable law or any rule or regulation of any governmental authority or any rule or regulation of, or agreement of the Company with, any securities exchange or association upon which the Common Stock is listed or quoted.  The Company shall in no event be obligated to take any affirmative action in order to cause the exercise of the SAR or the resulting payment to comply with any such law, rule, regulation or agreement.
9.    Assignability.  During Grantee’s lifetime, the SAR is not transferable (voluntarily or involuntarily) other than pursuant to a qualified domestic relations order as defined by the Code or Title I of the Employee Retirement Income Security Act, or the rules thereunder (a “QDRO”), and, except as otherwise required pursuant to a QDRO, is exercisable only by the Grantee or Grantee’s court appointed legal representative.  The Grantee may designate a beneficiary or beneficiaries to whom the SAR shall pass upon Grantee’s death and may change such designation from time to time by filing a written designation of beneficiary or beneficiaries with the Committee on the form attached hereto as Exhibit A or such other form as may be prescribed by the Committee, provided that no such designation shall be effective unless so filed prior to the death of Grantee.  If no such designation is made or if the designated beneficiary does not survive the Grantee’s death, the SAR shall pass by will or the laws of descent and distribution.  Following Grantee’s death, the SAR, if otherwise exercisable, may be exercised by the person to whom such SAR passes according to the foregoing and such person shall be deemed the Grantee for purposes of any applicable provisions of this Agreement.

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Notwithstanding the foregoing, the SAR is transferable by the Grantee to (i) the spouse, children or grandchildren of the Grantee (“Immediate Family Members”), (ii) a trust or trusts for the exclusive benefit of such Immediate Family Members (“Immediate Family Member Trusts”), or (iii) a partnership or partnerships in which such Immediate Family Members have at least ninety‐nine percent (99%) of the equity, profit and loss interests (“Immediate Family Member Partnerships”).  Subsequent transfers of a transferred SAR shall be prohibited except by will or the laws of descent and distribution or pursuant to a QDRO, unless such transfers are made to the original Grantee or a person to whom the original Grantee could have made a transfer in the manner described herein.  No transfer shall be effective unless and until written notice of such transfer is provided to the Committee, in the form and manner prescribed by the Committee.  Following transfer, the SAR shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, and, except as otherwise provided herein, the term “Grantee” shall be deemed to refer to the transferee.  The consequences of termination of employment shall continue to be applied with respect to the original Grantee, following which the SAR shall be exercisable by the transferee only to the extent and for the periods specified in the Plan and this Agreement.
10.    Notice.  Unless the Company notifies the Grantee in writing of a different procedure, any notice or other communication to the Company with respect to this Agreement shall be in writing and shall be delivered personally or sent by first class mail, postage prepaid to the following address:
Carrizo Oil & Gas, Inc.
500 Dallas Street, Suite 2300
Houston, Texas  77002
Attention: Human Resources
with a copy to:
Carrizo Oil & Gas, Inc.
500 Dallas Street, Suite 2300
Houston, Texas  77002
Attention: Law Department
Any notice or other communication to the Grantee with respect to this Agreement shall be in writing and shall be delivered personally, shall be sent by first class mail, postage prepaid, to Grantee’s address as listed in the records of the Company on the Grant Date, unless the Company has received written notification from the Grantee of a change of address, or shall be sent to the Grantee’s e‐mail address specified in the Company’s records.
11.    Grantee Employment.  Nothing contained in this Agreement, and no action of the Company or the Committee with respect hereto, shall confer or be construed to confer on the Grantee any right to continue in the employ of the Company or any of its Subsidiaries or interfere in any way with the right of the Company or any employing Subsidiary to terminate the Grantee’s employment at any time, with or without cause; subject, however, to the provisions of any Employment Agreement.

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12.    Governing Law.  This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of Texas. Any suit, action or other legal proceeding arising out of this Agreement shall be brought in the United States District Court for the Southern District of Texas, Houston Division, or, if such court does not have jurisdiction or will not accept jurisdiction, in any court of general jurisdiction in Harris County, Texas.  Each of the Grantee and the Company consents to the jurisdiction of any such court in any such suit, action, or proceeding and waives any objection that it may have to the laying of venue of any such suit, action, or proceeding in any such court.
13.    Construction.  References in this Agreement to “this Agreement” and the words “herein,” “hereof,” “hereunder” and similar terms include all exhibits and schedules appended hereto, including the Plan.  This Agreement is entered into, and the Award evidenced hereby is granted, pursuant to the Plan and shall be governed by and construed in accordance with the Plan and the administrative interpretations adopted by the Committee thereunder.  All decisions of the Committee upon questions regarding the Plan or this Agreement shall be conclusive.  Unless otherwise expressly stated herein, in the event of any inconsistency between the terms of the Plan and this Agreement, the terms of the Plan shall control.  The headings of the paragraphs of this Agreement have been included for convenience of reference only, are not to be considered a part hereof and shall in no way modify or restrict any of the terms or provisions hereof.
14.    Duplicate Originals.  The Company and the Grantee may execute any number of copies of this Agreement.  Each executed copy shall be an original, but all of them together represent the same agreement.
15.    Rules by Committee.  The rights of the Grantee and obligations of the Company hereunder shall be subject to such reasonable rules and regulations as the Committee may adopt from time to time hereafter.
16.    Entire Agreement.  Subject to the provisions of any Employment Agreement, Grantee and the Company hereby declare and represent that no promise or agreement not herein expressed has been made and that this Agreement contains the entire agreement between the parties hereto with respect to the SAR and replaces and makes null and void any prior agreements, oral or written, between Grantee and the Company regarding the SAR.  To the extent of any conflict between this Agreement and any Employment Agreement, the terms of such Employment Agreement shall control.

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17.    Grantee Acceptance.  Grantee shall signify acceptance of the terms and conditions of this Agreement by executing this Agreement and returning an executed copy to the Company.
CARRIZO OIL & GAS, INC.
By:                        
S. P. Johnson, IV    
President 

ACCEPTED:

    
Grantee            

 

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Schedule 1 to Stock Appreciation Rights Agreement dated as of ____________
Carrizo Oil & Gas, Inc. 
Cash-Settled Stock Appreciation Rights Plan 
Grantee:        [Employee Name]

Grant Date:        ____________

Exercise Price:    $________ per SAR Share

		
	Number of SAR Shares:
	______ 

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Exhibit A to Stock Appreciation Rights Agreement dated as of ____________
Carrizo Oil & Gas, Inc. 
Cash-Settled Stock Appreciation Rights Plan 
Designation of Beneficiary
I, ___________________________________________ (the “Grantee”), hereby declare

that upon my death __________________________________________ (the “Beneficiary”) of
Name
_____________________________________________________________________________,
Street Address             City             State         Zip Code

who is my _________________________________________________, shall be entitled to the
Relationship to Grantee

SAR and all other rights accorded the Grantee by the above‐referenced agreement (the “Agreement”).
It is understood that this Designation of Beneficiary is made pursuant to the Agreement and is subject to the conditions stated herein, including the Beneficiary’s survival of the Grantee’s death.  If any such condition is not satisfied, such rights shall devolve according to the Grantee’s will or the laws of descent and distribution.
It is further understood that all prior designations of beneficiary under the Agreement are hereby revoked and that this Designation of Beneficiary may only be revoked in writing, signed by the Grantee, and filed with the Company prior to the Grantee’s death.

                                                    
Date                            Grantee

- 8 -Exhibit

Exhibit 10.2

LEASE AGREEMENT

This Agreement is made the 30th day of September 1991 between RDB COMPANY, an Alaska General Partnership ("Landlord"), whose address is, 4150 West 88th Ave., Anchorage, Alaska, 99502, and GENERAL COMMUNICATION INC., an Alaska Corporation ("Tenant"), whose address is 2550 Denali Street, Suite 1000, Anchorage, Alaska, 99503, who agree as follows:

1.  Premises.    Landlord leases to Tenant and Tenant leases from Landlord the real property located at 1551 Lore Road, Anchorage, Alaska, described as Lot 1, Block 6, Chugach Meadows Subdivision, Anchorage Recording District, Anchorage, Alaska, including the building and other improvements located on the real property ("Premises").

2.  Term, Termination by Tenant.    The term of this Lease shall commence on October 1, 1991, and shall expire September 30, 2006.

3.  Condition of Premises.    Tenant's taking possession of the Premises on commencement of the term shall constitute Tenant's acknowledgment that the Premises are in adequate condition for Tenant's purposes.  Tenant has inspected the Premises and has made such investigation as it deems necessary.  Tenant leases the Premises "as is."  Landlord shall have no responsibility to make any repair or improvement of any kind.  Landlord has made no representations to the condition of the property.

4.  Rent.    Tenant shall pay to Landlord as rent, for the entire lease term, without deduction, setoff, prior notice or demand, the sum of $3,552,000, payable Fourteen Thousand Four Hundred Dollars ($14,400.00) per month beginning October 1, 1991 and ending September 30, 1993, Fifteen Thousand Two Hundred Dollars ($15,200.00) per month beginning October 1, 1993 and ending September 30, 1995, Sixteen Thousand Dollars ($16,000.00) per month beginning October 1, 1995 and ending September 30, 1997, Sixteen Thousand Eight Hundred Dollars ($16,800.00) per month beginning October 1, 1997 and ending September 30, 1999, Seventeen Thousand Six Hundred Dollars ($17,600.00) per month beginning October 1, 1999, and ending September 30, 2001, Eighteen Thousand Four Hundred Dollars ($18,400.00) per month beginning October 1, 2001 and ending September 30, 2003, Nineteen Thousand Two Hundred Dollars ($19,200.00) per moth beginning October 1, 2003 and ending September 30, 2005, and Twenty Thousand Dollars ($20,000.00) per month beginning October 1, 2005 through the end of the term.

5.  Tenant's Use of Premises.    Tenant shall use the Premises for its telecommunications business and for no other use without Landlord's consent.  Tenant's use of the Premises as provided in this Lease shall be in accordance with the following:

A.  Tenant shall not do, bring, or keep anything in or about the Premises that will cause the cancellation of any insurance covering the premises.
B.  Tenant shall comply with all laws concerning the Premises or Tenant's use of the Premises, including, without limitation, the obligation at Tenant's cost to alter, maintain, or restore the Premises in compliance and conformity with all laws relating to the condition, use or occupancy of the Premises during the term.
C.  Tenant shall not use the Premises in any manner that will constitute waste, nuisance, or unreasonable annoyance to owners or occupants of adjacent properties.

6.  Maintenance of Premises, Taxes.  Tenant, at its cost, shall maintain the Premises in good condition, including any repair of any mechanical, electrical, plumbing, or structural failures occurring during the term.  Tenant shall pay all property, use, or other similar taxes attributable to the Premises.  This Lease is a triple net lease.  Landlord shall have no responsibility for maintenance of the Premises.

7.  Alterations.  Any alterations made shall remain on and be surrendered with the Premises on expiration or termination of the term.  All alterations by Tenant shall conform to Municipal, State, and Federal regulations.

If Tenant makes any alterations to the Premises as provided in this paragraph, the alterations shall not be commenced until two (2) days after Landlord has received notice from Tenant stating the date the installation of the alterations is to commence so that Landlord can post and record an appropriate notice of non-responsibility. 

    

8.  Mechanic' s  Liens.  Tenant shall pay  all costs  for construction done by it or caused to be done by it on the Premises as permitted by this Lease. Tenant shall keep the Premises free and clear of all mechanic 's liens resulting from construction done by or for Tenant.

Tenant shall have the right to contest the correctness or the validity of any such lien if, immediately on demand by Landlord, Tenant procures and records a lien release bond issued by a corporation authorized to issue surety bonds in Alaska in an amount equal to one and one-half times the amount of the claim of lien. The bond shall provide for the payment of any sum that the claimant may recover on the claim (together with costs of suit, if it recovers in the action).

9.  Utilities. Tenant shall make all arrangements for and pay for all utilities and services furnished to or used by it, including, without limitation, gas, electricity, water, sewer, telephone service, snow removal, and trash collection, and for all connection charges.

10.  Liability and Indemnity.  Landlord shall not be liable to Tenant for any damage to Tenant or Tenant's property from any cause. Tenant waives all claims against Landlord for damage to person or property arising for any reason, except that Landlord shall be liable to Tenant for damage to Tenant resulting from the acts or omissions of Landlord or its authorized representatives.

Tenant shall hold Landlord harmless from all damages arising out of any damage to any person or property occurring in, on, or about the Premises or off the Premises arising out of actions on the Premises, except that Landlord shall be liable to Tenant for damage resulting from the acts or omissions of Land lord or its authorized representatives.  Landlord shall hold Tenant harmless from all damages arising out of any such damage.  A party's obligation under this paragraph to indemnify and hold the other party harmless shall be limited to the sum that exceeds the amount of insurance proceeds, if any, received by the party being indemnified.

11.  Insurance. Tenant, at its cost, shall maintain fire and extended coverage property insurance on the building for replacement value, public liability, and property damage insurance with a liability limit of $5,000,000 combined single limit insuring against all liability of Tenant and its authorized representatives arising out of and in connection with Tenant's use or occupancy of Premises. All public liability insurance and property damage insurance shall insure performance by Tenant of the indemnity provisions of Section 10. Both parties and mortgagees shall be named as additional insureds, and the policy shall contain cross­ liability endorsements.

12.  Destruction of the Premises. If, during the term, the Premises are totally or partially destroyed from a risk covered by insurance payable to the Landlord, rendering the Premises totally or partially inaccessible or unusable, Landlord may restore the Premises to substantially the same condition as they were in immediately before destruction.  Such destruction shall not terminate this Lease.  If existing laws or funds do not permit the restoration, either party can terminate this Lease immediately by giving notice to the other Party.  Landlord may also elect to terminate this Lease by giving notice to Tenant within ninety (90) days after the destruction.

13.  Condemnation.

		
	A.
	1.  "Condemnation" means (a) the exercise of any governmental power, whether by legal proceedings or otherwise, by a condemner and (b) a voluntary sale or transfer by Landlord to any condemnor either under threat of condemnation or while legal proceedings of condemnation are pending.

2.  "Date of taking" means the date the condemnor has the right of possession of the property being condemned.
3.  "Award" means all compensation, sums, or anything of value awarded, paid, or received on a total or partial condemnation.
4.  "Condemnor" means any public or quasi-public authority, or private corporation or individual, having the power of condemnation.
		
	B.
	If, during the term or during the period of time between the execution of this Lease and the date the term commences, there is any taking of all or any part of the Premises or any interest in this Lease by condemnation, the rights and obligations of the parties shall be determined pursuant to this Section.

		
	C.
	If the Premises are totally taken by condemnation, this Lease shall terminate on the date of taking.

		
	D.
	If any portion of the Premises is taken by condemnation, this Lease shall remain in effect, except that Tenant can elect to terminate this Lease if the remaining portion of the building or other improvements that are a part of the Premises are rendered unsuitable for Tenant's continued use of the Premises.

		
	E.
	The award shall belong to and be paid to Landlord and Tenant as their interest may appear.

14.  Assignment. Tenant shall not voluntarily assign or encumber its interest in this Lease or in the Premises, or sublease all or any part of the Premises, or allow any other person or entity (except Tenant's authorized representatives) to occupy or use all or any part of the Premises, except a subsidiary or controlled affiliate of Tenant, without first obtaining Landlord 's consent. Any assignment, encumbrance, or sublease without Landlord 's consent shall be voidable and, at Landlord' s election, shall constitute a default. No consent to any assignment, encumbrance, or sublease shall constitute a further waiver of the provisions of this paragraph.

No interest of Tenant in this Lease shall be assignable by operation of law. Each of the following acts shall be considered an involuntary assignment:

A.If Tenant is or becomes bankrupt or insolvent, makes an assignment for the benefit of creditors, or institutes a proceeding under the Bankruptcy Act in which Tenant is the debtor; or, if Tenant is a partnership or consists of more than one person or entity, if any partner of the partnership or other person or entity is or becomes bankrupt or insolvent, or makes an assignment for the benefit of creditors;
B.    If a writ of attachment or execution is levied on this Lease;
C.    If, in any proceeding or action to which Tenant is a party, a receiver is appointed with authority to take possession of the Premises.

An involuntary assignment shall constitute a default by Tenant and Landlord shall have the right to elect to terminate this Lease, in which case this Lease shall not be treated as an asset of Tenant.

15.  Tenant's Default. The occurrence of any of the following shall constitute a default by Tenant :

		
	A.
	Abandonment and vacation of the Premises (failure to occupy and operate the Premises for ten (10) consecutive days shall be deemed an abandonment and vacation).

		
	B.
	Failure to provide insurance as required by Section 11.

		
	C.
	Receipt by Landlord of a notice of cancellation of insurance required by Section 11.

D.    Failure to perform any other provision of this Lease if the failure to perform is not cured within thirty (30) days after notice has been given to Tenant. If the default cannot reasonably be cured within thirty (30) days, Tenant shall not be in default of this Lease if Tenant commences to cure the default within the thirty (30) day period and diligently and in good faith continues to cure the default.

Notice given under this paragraph shall specify the alleged default and the applicable Lease provisions, and shall demand that Tenant perform the provisions of this Lease as the case may be, within the applicable period of time, or quit the Premises. No such notice shall be deemed a forfeiture or a termination of this Lease unless Landlord so elects in the notice.

16.  Landlord' s Remedies. Landlord shall have the following remedies if Tenant commits a default. These remedies are not exclusive; they are cumulative in addition to any remedies now or later allowed by law.

Landlord can continue this Lease in full force and effect, and this Lease will continue in effect as long as Landlord does not terminate Tenant 's right to possession. During the period Tenant is in default, Landlord can enter the Premises and relet them, or any part of them, to third parties. Reletting can be for a period shorter or longer than the remaining term of this Lease. After Tenant's default and for as long as Landlord does not terminate Tenant's right to possession of the Premises, if Tenant obtains Landlord' s consent Tenant shall have the right to assign or sublet its interest in this Lease, but Tenant shall not be released from liability. Landlord's consent to a proposed assignment or subletting shall not be unreasonably withheld.

If Landlord elects to relet the Premises as provided in this paragraph, rent that Landlord receives from reletting shall be applied to the payment of:
A.    Any indebtedness from Tenant to Landlord; and

B.    All costs, including maintenance, incurred by Landlord in reletting.

Landlord can terminate Tenant 's right to possession of the Premises at any time. No act by Landlord other than giving notice to Tenant shall terminate this Lease. Acts of maintenance, efforts to relet the Premises, or the appointment of a receiver on Landlord's initiative to protect Landlord 's interest under th is Lease shall not constitute a termination of Tenant 's right to possession.

Landlord, at any time after Tenant commits a default, can cure the default at Tenant's cost. If Landlord at any time, by reason of Tenant's default, pays any sum or does any act that requires the payment of any sum, the sum paid by Landlord shall be due immediately from Tenant to Landlord at the time the sum is paid.

17.  Notice. Any notice, demand, request, consent, approval, or communication that either party desires or is required to give to the other party or any person shall be in writing and either served personally or sent by prepaid, first class mail. Any notice, demand, request, consent, approval, or communication that either party desires or is required to give to the other party shall be addressed to the other party at the address set forth in the introductory paragraph of this Lease. Either party may change its address by notifying the other party of the change of address. Notice shall be deemed communicated within forty-eight (48) hours from the time of mailing, if mailed as provided in this paragraph.

18.  Waiver. No delay or omission in the exercise of any right or remedy of Landlord on any default by Tenant shall impair such a right or remedy or be construed as a waiver.

The receipt and acceptance by Landlord of delinquent rent shall not constitute a waiver of any other default; it shall constitute only a waiver of timely payment for the particular rent payment involved.

No act or conduct of Landlord, including, without limitation, the acceptance of the keys to the Premises, shall constitute an acceptance of the surrender of the Premises by Tenant before the expiration of the term. Only a notice from Landlord to Tenant shall constitute acceptance of the surrender of the Premises and accomplish a termination of the Lease.

Landlord's consent to or approval of any act by Tenant requiring Landlord's consent or approval shall not be deemed to waive or render unnecessary Landlord's consent to or approval of any subsequent act by Tenant.

Any waiver by Landlord of any default must be in writing and shall not be a waiver of any other default concerning the same or any other provision of this Lease.

19.  Surrender of Premises; Holding over. On expiration of the term, Tenant shall surrender to Landlord the premises and all Tenant's improvements and alterations in good condition (except for ordinary wear and tear occurring after the last necessary maintenance made by Tenant), except for alterations that Tenant has the right to remove or is obligated to remove under the provisions of this Lease. Tenant shall remove all its personal property within the above stated time. Tenant shall perform all restoration made necessary by the removal of any alterations or Tenant's personal property within the time periods stated in this paragraph.

Landlord can elect to retain or dispose of in any manner any alterations or Tenant's personal property that Tenant does not remove from the Premises on expiration or termination of the term as allowed or required by this Lease by giving at least ten (10) days' notice to Tenant. Title to any such alterations or Tenant's personal property that Landlord elects to retain or dispose of on expiration of the ten (10) day period shall vest in Landlord. Tenant waives all claims against Landlord for any damage to Tenant resulting from Landlord's retention or disposition of any such alterations or Tenant's personal property. Tenant shall be liable to Landlord for Landlord's costs for storing, removing, and disposing of any alterations or Tenant's personal property.

If Tenant fails to surrender the Premises to Landlord on expiration or ten (10) days after termination of the term as required by this paragraph, Tenant shall hold Landlord harmless from all damages resulting from Tenant's failure to surrender the Premises, including, without limitation, claims made by a succeeding tenant resulting from Tenant's failure to surrender the Premises.

If Tenant, with Landlord's consent, remains in possession of the Premises after expiration or termination of the term, or after the date in any notice given by Landlord to Tenant terminating this Lease, such possession by Tenant shall be deemed to be a month-to-month tenancy terminable on thirty (30) days' notice given at any time 

by either party.

All provisions of this Lease, except those pertaining to term and option to acquire the Premises, shall apply to the month­ to-month tenancy.

20.  Payment Upon Sale or at End of Tenth Year. If Landlord sells the Premises prior to the end of the tenth year of the term of this Lease, Landlord shall rebate to Tenant for appreciated value, one-half of the net sale price received (after real estate commission, title fees, premiums, attorney fees, and closing costs) over Nine Hundred Thousand Dollars ($900,000.00). If Landlord has not sold the Premises before the tenth year of the term of this Lease, it shall pay Tenant one-half of the appreciated value as determined by the then appraised value of the property over Nine Hundred Thousand Dollars ($900,000.00) or Five Hundred Thousand Dollars ($500,000.00), whichever is greater. An appraisal shall be by an MAI appraiser mutually acceptable to the parties.

21.  Miscellaneous Provisions.

		
	A.
	Time is of the essence as to each provision of this Lease.

		
	B.
	Whenever consent or approval of either party is required, that party shall not unreasonably withhold such consent or approval.

C.    This Lease shall be binding on and inure to the benefit of the parties and their successors.
D.    This Lease shall be construed and interpreted in accordance with the laws of the State of Alaska.
E.    This Lease contains all the agreements of the parties and cannot be amended or modified, except by a written agreement.

IN WITNESS WHEREOF, the parties have executed this Lease as of the date first set forth above.

RDB COMPANY
An Alaska General Partnership

By:  /s/ Ronald A. Duncan         
       Ronald A. Duncan
Its:  Managing Partner

GENERAL COMMUNICATION INC.

By:  /s/ John M. Lowber             
       John M. Lowber
Its:  Senior Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00280-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00280-of-00352.parquet"}]]