Document:

Exhibit 10.3

 

ATLANTA

OFFICE LEASE AGREEMENT

 

TABLE OF
CONTENTS

 

BASIC LEASE INFORMATION

 

	
  Paragraph

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
   

  	
   

  	
  PREMISES
  AND PROPERTY

  	
   

  
	
  2.

  	
   

  	
   

  	
  USE

  	
   

  
	
  3.

  	
   

  	
   

  	
  TERM AND
  POSSESSION

  	
   

  
	
  4.

  	
   

  	
   

  	
  RENT

  	
   

  
	
  5.

  	
   

  	
   

  	
  COMPLIANCE
  WITH LAWS

  	
   

  
	
  6.

  	
   

  	
   

  	
  ALTERATIONS

  	
   

  
	
  7.

  	
   

  	
   

  	
  REPAIR

  	
   

  
	
  8.

  	
   

  	
   

  	
  LIENS

  	
   

  
	
  9.

  	
   

  	
   

  	
  ASSIGNMENT AND SUBLETTING

  	
   

  
	
  10.

  	
   

  	
   

  	
  INSURANCE AND
  INDEMNIFICATION

  	
   

  
	
  11.

  	
   

  	
   

  	
  WAIVER
  OF SUBROGATION

  	
   

  
	
  12.

  	
   

  	
   

  	
  SERVICES AND
  UTILITIES

  	
   

  
	
  13.

  	
   

  	
   

  	
  ESTOPPEL
  CERTIFICATE

  	
   

  
	
  14.

  	
   

  	
   

  	
  HOLDING OVER

  	
   

  
	
  15.

  	
   

  	
   

  	
  SUBORDINATION

  	
   

  
	
  16.

  	
   

  	
   

  	
  RULES
  AND REGULATIONS

  	
   

  
	
  17.

  	
   

  	
   

  	
  ENTRY BY
  LANDLORD

  	
   

  
	
  18.

  	
   

  	
   

  	
  INSOLVENCY
  OR BANKRUPTCY

  	
   

  
	
  19.

  	
   

  	
   

  	
  DEFAULT

  	
   

  
	
  20.

  	
   

  	
   

  	
  DAMAGE BY FIRE,
  ETC.

  	
   

  
	
  21.

  	
   

  	
   

  	
  CONDEMNATION

  	
   

  
	
  22.

  	
   

  	
   

  	
  SALE BY
  LANDLORD

  	
   

  
	
  23.

  	
   

  	
   

  	
  RIGHT OF LANDLORD TO
  PERFORM

  	
   

  
	
  24.

  	
   

  	
   

  	
  SURRENDER
  OF PREMISES

  	
   

  
	
  25.

  	
   

  	
   

  	
  WAIVER

  	
   

  
	
  26.

  	
   

  	
   

  	
  NOTICES

  	
   

  
	
  27.

  	
   

  	
   

  	
  RENTAL
  ADJUSTMENT

  	
   

  
	
  28.

  	
   

  	
   

  	
  CERTAIN RIGHTS
  RESERVED TO THE LANDLORD

  	
   

  
	
  29.

  	
   

  	
   

  	
  ABANDONMENT

  	
   

  
	
  30.

  	
   

  	
   

  	
  SUCCESSORS
  AND ASSIGNS

  	
   

  
	
  31.

  	
   

  	
   

  	
  ATTORNEY’S FEES

  	
   

  
	
  32.

  	
   

  	
   

  	
  SECURITY
  DEPOSIT

  	
   

  
	
  33.

  	
   

  	
   

  	
  FINANCIAL
  STATEMENTS

  	
   

  
	
  34.

  	
   

  	
   

  	
  TENANT AUTHORITY

  	
   

  
	
  35.

  	
   

  	
   

  	
  MORTGAGEE
  AND GROUND LESSOR APPROVALS

  	
   

  
	
  36.

  	
   

  	
   

  	
  MISCELLANEOUS

  	
   

  
	
  37.

  	
   

  	
   

  	
  LANDLORD’S LIEN

  	
   

  
	
  38.

  	
   

  	
   

  	
  QUIET ENJOYMENT

  	
   

  
	
  39.

  	
   

  	
   

  	
  LANDLORD’S
  LIABILITY

  	
   

  
	
  40.

  	
   

  	
   

  	
  NO ESTATE

  	
   

  
	
  41.

  	
   

  	
   

  	
  SUBSTITUTION
  OF PREMISES

  	
   

  
	
  42.

  	
   

  	
   

  	
  LEASE
  EFFECTIVE DATE

  	
   

  
	
  43.

  	
   

  	
   

  	
  HAZARDOUS
  MATERIALS

  	
   

  
	
  44.

  	
   

  	
   

  	
  FIRST MONTH’S
  RENT

  	
   

  
	
  45.

  	
   

  	
   

  	
  BROKERS

  	
   

  
	
   

  	
   

  
	
  EXHIBIT “A” - RULES AND REGULATIONS

  	
   

  
	
  EXHIBIT “B” - TYPICAL
  LEVEL FLOOR PLAN

  	
   

  
	
  EXHIBIT “C”
  - OFFICE LEASE IMPROVEMENT AGREEMENT

  	
   

  
	
  EXHIBIT “D”
  - TENANT LEASE ESTOPPEL CERTIFICATE

  	
   

  
	
  EXHIBIT “E”
  - GENERAL CLEANING SPECIFICATIONS

  	
   

  
	
  EXHIBIT “F”
  - LEASE GUARANTY

  	
   

  
	
  EXHIBIT “G” - LEGAL DESCRIPTION OF PROPERTY

  	
   

  
	
  EXHIBIT “H” - INSURANCE

  	
   

  
	
  EXHIBIT “I” - SPECIAL STIPULATIONS

  	
   

  
	
  EXHIBIT “J”
  - ARBITRATION

  	
   

  
	
  EXHIBIT “K”
  – FORM OF SNDA

  	
   

  

 

	
   

  	
  Initial:
  Landlord

  
	
   

  	
   

  
	
   

  	
   Initial:
  Tenant

  

 

 

BASIC
LEASE INFORMATION

 

	
   

  	
   

  	
  LEASE DATE:

  	
   

  	
  29th day of June, 2004

  
	
   

  	
   

  	
  LANDLORD:

  	
   

  	
  GERMANIA PROPERTY INVESTORS XXXIV, L.P., a Georgia limited partnership

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ADDRESS OF  LANDLORD:

  	
   

  	
  GERMANIA PROPERTY INVESTORS XXXIV, L.P. c/o

  Childress Klein Properties
300 Galleria Parkway, Suite 600
Atlanta, GA 30339

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TENANT:

  	
   

  	
  Neenah Paper, Inc., a Delaware corporation

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ADDRESS OF  TENANT:

  	
   

  	
  Prior to the Commencement Date:

  Neenah Paper, Inc.
C/o General Counsel
221 Roswell Street, Suite 100
Alpharetta, GA 30004
Phone: 678-566-4995
Fax: 678-566-0464

  
Following the Commencement Date:
At the Premises
C/o General Counsel

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  FEDERAL TAX ID NUMBER:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  CONTACT:

  	
   

  	
  Steven S. Heinrichs

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TELEPHONE:

  	
   

  	
  678-566-6794

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Paragraph 1

  	
   

  	
  PREMISES:

  	
   

  	
  On the sixth (6th) floor of the Preston Ridge III office
  building as outlined in red on Exhibit “B” hereto. The rentable area of the
  Premises for purposes of this Lease is 26,285 square feet.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BUILDING:

  	
   

  	
  Preston Ridge III, 3460 Preston Ridge Road, Alpharetta, Georgia 30302.
  The rentable area of the Building is 151,647 square feet.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  PROPERTY:

  	
   

  	
  The land on which the Building is to be erected, per the legal
  description of the Property attached hereto as Exhibit “G”.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Paragraph 2

  	
   

  	
  USE:

  	
   

  	
  General office use only.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Paragraph 3

  	
   

  	
  COMMENCEMENT DATE

  	
   

  	
  September 15, 2004 (as the date may be extended pursuant to Section 3
  herein)

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Paragraph 3

  	
   

  	
  LEASE TERM:

  	
   

  	
  One hundred twenty (120) months commencing on the Commencement Date as
  specified above.

  

 

1

 

	
  Paragraph 4

  	
   

  	
  RENT:

  	
   

  	
  Initially, Rent shall be payable at the rate of Forty-Three Thousand
  Eight Hundred Eight and 33/100ths Dollars ($43,808.33) per
  month.  Said monthly Rent consists of
  Net Rent and the Expense Stop Rent. 
  The initial Net Rent is $13.00 per rentable square foot per
  year or Twenty Eight Thousand Four Hundred Seventy Five and 42/100ths Dollars
  ($28,475.42) per month.  The
  initial Expense Stop Rent is $7.00 per rentable square foot per year
  or Fifteen Thousand Three Hundred Thirty-two and 91/100ths Dollars  ($15,332.91)  per month. 
  The Net Rent shall be adjusted in accordance with the Net Rent schedule set
  forth below.  The Expense Stop Rent
  shall be adjusted in accordance with Paragraph 27 of the Lease.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Net Rent Schedule:

  

 

	
   

  	
   

  	
   

  	
   

  	
  Time Period

  	
   

  	
  Net Rent PSF

  per annum

  	
   

  	
  Monthly Net

  Rent

  	
   

  	
  Annual Net

  Rent

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Commencement Date – 12th
  full month

  	
   

  	
  $

  	
  13.00

  	
   

  	
  $

  	
  28,475.42

  	
   

  	
  $

  	
  341,705.00

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  13 – 24

  	
   

  	
  $

  	
  13.33

  	
   

  	
  $

  	
  29,187.30

  	
   

  	
  $

  	
  350,247.63

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  25 – 36

  	
   

  	
  $

  	
  13.66

  	
   

  	
  $

  	
  29,916.98

  	
   

  	
  $

  	
  359,003.82

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  37 – 48

  	
   

  	
  $

  	
  14.00

  	
   

  	
  $

  	
  30,664.91

  	
   

  	
  $

  	
  367,978.91

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  49 – 60

  	
   

  	
  $

  	
  14.35

  	
   

  	
  $

  	
  31,431.53

  	
   

  	
  $

  	
  377,178.38

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  61 – 72

  	
   

  	
  $

  	
  14.71

  	
   

  	
  $

  	
  32,217.32

  	
   

  	
  $

  	
  386,607.84

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  73 – 84

  	
   

  	
  $

  	
  15.08

  	
   

  	
  $

  	
  33,022.75

  	
   

  	
  $

  	
  396,273.04

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  85 – 96

  	
   

  	
  $

  	
  15.45

  	
   

  	
  $

  	
  33,848.32

  	
   

  	
  $

  	
  406,179.87

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  97 – 108

  	
   

  	
  $

  	
  15.84

  	
   

  	
  $

  	
  34,694.53

  	
   

  	
  $

  	
  416,334.36

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  109 – 120

  	
   

  	
  $

  	
  16.24

  	
   

  	
  $

  	
  35,561.89

  	
   

  	
  $

  	
  426,742.72

  	
   

  	
   

  

 

	
  Paragraph 27

  	
   

  	
  PRO RATA SHARE

  	
   

  	
  17.33%, which
  percentage is defined as a ratio, the numerator of which is the number of
  square feet of rentable area contained in the Premises (26,285) and the
  denominator of which is the number of square feet of rentable area contained
  in the Building (151,647) subject to increase or decrease due to an increase
  or decrease of the rentable square footage of either the Building or the
  Premises.  Tenant’s Pro Rata Share
  shall be adjusted for partial years at the beginning and end of the term.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Paragraph 32

  	
   

  	
  SECURITY DEPOSIT:

  	
   

  	
  Zero and No/100ths Dollars ($0.00)

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Paragraph 45

  	
   

  	
  BROKERS:

  	
   

  	
  CK-Suburban Atlanta Brokerage, LLC, on behalf of Landlord.

  Carter & Associates, LLC, on behalf of Tenant

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhibit G

  	
   

  	
  GUARANTY:

  	
   

  	
  “Guaranty” shall
  mean the Guaranty of certain obligations of Lessee hereunder in the form of
  Exhibit “G” hereto (the “Guaranty”) given by Kimberly – Clark Corporation
  (the “Guarantor”) and bearing even date herewith.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  The foregoing Basic Lease Information is hereby incorporated into and
  made a part of this Lease.  Each
  reference in this Lease to any of the Basic Lease Information shall mean the
  respective information hereinabove set forth and shall be construed to
  incorporate all of the terms provided under the particular Lease paragraph
  pertaining to such information.  In the
  event of any conflict between any Basic Lease Information and the Lease, the
  latter shall control.

  

 

2

 

LEASE

 

THIS
LEASE made as of this 29th
day of  June, 2004, between GERMANIA PROPERTY INVESTORS XXXIV, L.P., a
Georgia Limited Partnership (hereinafter called “Landlord”) and NEENAH PAPER, INC., a Delaware corporation
(hereinafter called “Tenant”).

 

W I T N E S S E
T H :

 

1.                                      PREMISES AND PROPERTY

 

Landlord hereby
demises and leases to Tenant and Tenant hereby accepts and leases from Landlord
those premises (hereinafter called “Premises”) outlined in red on Exhibit “B”
attached hereto, made a part hereof, and specified in the Basic Lease
Information, being a portion of a multi-story office building (the “Building”)
constructed or being constructed on a parcel of land (the “Property”) located
as described in the Basic Lease Information. 
Tenant shall have the nonexclusive right to use those parts of the
Property devoted to access and parking and shall have the non-exclusive right
to use those areas devoted to lobbies, elevators, stairs and similar facilities
provided for the common use or benefit of tenants generally and/or the public
(excluding, however, any restricted elevator lobbies dedicated to full floor
tenants.  The Landlord represents and
warrants, to the best of Landlord’s knowledge, as of the date of this Lease,
(i) all of the Building Standard mechanical, electrical, plumbing, sprinkler
and HVAC equipment servicing the Premises is in good working order and
condition, (ii) the Premises will be delivered to Tenant vacant and in broom
clean condition as of the Delivery Date (defined below); and (iii) the Premises
complies with all Laws (as defined below).

 

2.                                      USE

 

Tenant shall use
and occupy the Premises for the purpose specified in the Basic Lease
Information and for no other use or purpose without the prior written consent
of Landlord. Tenant shall not do or permit anything to be done in or about the
Premises which will in any way obstruct or interfere with the rights of other
tenants or occupants of the Building or injure or annoy them, nor use or allow
the Premises to be used for any improper, immoral, unlawful, or objectionable
purpose or for any business, use, or purpose deemed to be disreputable or
inconsistent with the operation of a first-class office building, nor shall
Tenant cause, maintain or permit any nuisance in, on, or about the Premises.
Tenant shall not commit or suffer the commission of any waste in, on, or about
the Premises.

 

3.                                      TERM AND POSSESSION

 

(a)                                  The term of this
Lease shall be for the period specified in the Basic Lease Information (or
until sooner terminated as herein provided) beginning on the Commencement Date,
except that if the Commencement Date is other than the first day of a calendar
month, the term hereof shall be extended for the remainder of that calendar
month at the end of the term unless otherwise specified in the Basic Lease
Information.

 

(b)                                  The Commencement
Date shall be September 15, 2004, as specified in the Basic Lease
Information. Notwithstanding anything herein to the foregoing, Landlord shall
use commercially reasonable efforts to deliver the Premises to Tenant as soon
as possible following the date of this Lease, but not later than of June 30,
2004 (“Delivery Date”) in order that Tenant may do such work as may be required
by Tenant to make the Premises ready for Tenant’s use and occupancy.  Landlord agrees that, notwithstanding the
fact that Covansys Corporation has not vacated a portion of the Premises, the
Tenant shall be given access to the Premises upon the execution of the Lease
for purposes of commencing its Work therein (but in no event shall Tenant be
permitted to perform any Work in the portion of the Premises occupied by
Covansys Corporation until such time as Landlord has confirmed to Tenant that
Covanys Corporation has vacated such portion of the Premises), that such early
entry by Tenant shall not be deemed delivery of the entire Premises by
Landlord, and that delivery of the entire Premises shall only be deemed to have
occurred upon the delivery of the Premises to the Tenant in a broom clean
condition as herein required.  Tenant
agrees that any such entry into and occupation of the Premises shall be deemed
to be under all of the terms, covenants, conditions and provisions of the Lease
except as to the covenant to pay Net Rent, Expense Stop Rent and Operating
Costs, and further agrees Landlord shall not be liable in any way for any
injury, loss or damage which may occur to any of Tenant’s work and
installations made in the Premises or to properties placed therein prior to the
Commencement Date of the term of the Lease, except to the extent caused by
Landlord’s negligence. In the event that Landlord fails to deliver the Premises
to Tenant on or before the Delivery Date, and such delay in delivery actually
prohibits Tenant from otherwise commencing the Work (as defined on Exhibit “C”)
then the Commencement Date shall be delayed one day for each day of such delay
in the Delivery Date (i), Tenant shall receive a day for day abatement of rent
for each day of delay in the delivery of the Premises beyond July 10, 2004
and until August 9, 2004; (ii) Tenant shall receive a two (2) day
abatement of Rent for every day of delay in the delivery of the Premises from August 10,
2004 and until the date of delivery; and (iii) Tenant shall have the right to
terminate this Lease if Landlord fails to deliver the Premises prior to September 10,
2004, provided, however, that Tenant must deliver notice to Landlord of its
intent to terminate on or before September 15, 2004, or Tenant’s right to
terminate this Lease in accordance with this Section 3(b) shall be of no
further force and effect.   In the event
that Tenant timely elects to terminate this Lease in accordance with this Section 3(b),
Landlord hereby agrees to reimburse Tenant for its actual costs incurred in
connection with Tenant’s negotiation and preparation of the Lease, not to
exceed Twenty Thousand and 00/100 Dollars ($20,000.00), as well as the costs
incurred in connection with the preparation of the Premises for occupancy by Tenant,
not to exceed $125,000.00.

 

(c)                                  Except for (i)
any delay in the Delivery Date as set forth in Section 3(b) above, (ii)
any delay in Tenant’s Work caused by the negligence or willful misconduct of
Landlord, or (iii) any delay in the Work caused by events outside of Tenant’s
reasonable control, excluding all permitting issues related to the Work and
provided that such delay shall not extend for more than thirty (30) days (all

 

3

 

of which events described
in subsections (i), (ii) and (iii) above shall delay the Commencement Date on a
day for day basis), the Commencement Date shall occur on the date specified on
the Basic Lease Information.

 

(d)                                  Landlord
shall not be liable to Tenant, its agents, employees, guests or invitees (and,
if Tenant is an entity, its officers, members, partners, managers, agents,
employees, guests or invitees) for any damage caused to any of them due to
leaking of gas, water, sewer or steam pipes, or from electricity, but Tenant, by
moving into the Premises and taking possession thereof, shall accept, and shall
be held to have accepted the Premises as suitable for the purposes for which
the same are leased, and Tenant by said act waives any and all defects therein
with the exception of latent defects; provided, however, that this Section shall
not apply to any damages or injury caused by or resulting from the negligence
or willful misconduct of Landlord, any damage or injury caused by the Building
(excluding the Premises) or any part or appurtenances thereof within the
Landlord’s control being improperly constructed or being or becoming out of
repair, and that nothing contained in this Section 3(c) shall negate the
Landlord’s maintenance and repair obligations as otherwise set forth herein.  In the event that during the Lease Term, a
latent defect is discovered in the Building’s structure, roof, foundation or in
the standard building systems serving the Premises generally (as well as other
space within excluding the Building systems servicing the Premises exclusively
or those non-Building standard or above-Building standard alterations,
improvements or additions made to Building systems by or on behalf of Landlord)
then Landlord shall be responsible for the repair or restoration of the Building
as a result of such latent defect in accordance with Landlord’s repair
obligations set forth in Section 12 hereof.  In the event that a
latent defect is discovered in the interior, nonstructural portions of the
Premises or any Work or Alterations installed by or on behalf of Tenant during
the Lease Term, Tenant shall be responsible for the repair or restoration of
the Premises as a result of such latent defect in accordance with Tenant’s
repair obligations set forth in Section 7 hereof.

 

4.                                      RENT

 

(a)                                  Tenant shall pay
to Landlord throughout the term of this Lease Rent as specified in the Basic
Lease Information, payable monthly in advance on or before the first day of
each month during the term hereby demised in lawful money of the United States,
without demand, deduction or offset whatsoever, to Landlord at the address
specified in the Basic Lease Information or to such other firm or to such other
place as Landlord may from time to time designate in writing.  Net Rent is subject to adjustment as provided
in the Basic Lease Information hereof, and Expense Stop Rent is subject to
adjustment as provided in Paragraph 27 hereof. 
If this Lease commences on a day other than the first day of a calendar
month or ends on a day other than the last day of a calendar month, the monthly
Rent for the fractional month shall be appropriately prorated.  The term “Rent”, as used herein, means all
Net Rent, Expense Stop Rent, Additional Rent and all other amounts payable
hereunder from Tenant to Landlord.

 

(b)                                  Tenant agrees
that if Rent or any other payment due hereunder from Tenant to Landlord remains
unpaid ten (10) days after said amount is due, the amount of such unpaid Rent
or other payment shall be increased by a late charge to be paid to Landlord by
Tenant in an amount equal to five percent (5%) of the amount of the delinquent
Rent or other payment.  The amount of the
late charge to be paid to Landlord by Tenant for any month shall be computed on
the aggregate amount of delinquent Rents and other payments, including all
accrued late charges, then outstanding. 
Tenant agrees that such amount is a reasonable estimate of the loss and
expense to be suffered by Landlord as a result of such late payment by Tenant
and may be charged by Landlord to defray such loss and expense.  The provisions of this paragraph in no way
relieve Tenant of the obligation to pay Rent or other payments on or before the
date on which they are due, nor do the terms of this paragraph in any way
affect Landlord’s remedies pursuant to Paragraph 19 of this Lease in the event
said Rent or other payment is unpaid after the date due.  Notwithstanding the foregoing to the
contrary, Tenant shall not be subject to late charges and interest set forth in
this Section 4(b) for the first two (2) times in each twelve month period
for which Tenant fails to pay Rent within ten (10) days after its due date.

 

5.                                      COMPLIANCE WITH LAWS

 

Tenant
shall not use the Premises or permit anything to be done in or about the
Premises which will in any way conflict with any law, statute, ordinance, or
governmental rule or regulation now in force or which may hereafter be enacted
or promulgated.  Tenant shall not do or
permit anything to be done on or about the Premises or bring or keep anything
therein which will in any way increase the rate of any insurance upon the
Building or any of its contents or cause a cancellation of said insurance or
otherwise affect said insurance in any manner and Tenant shall, at its sole
cost and expense, promptly comply with all laws, statutes, ordinances, and
governmental rules, regulations, or requirements now in force or which may
hereafter be in force and with the requirements of any board of fire
underwriters or other similar body now or hereafter constituted (“Laws”)
relating to or affecting the condition, use, or occupancy of the Premises.  Notwithstanding the foregoing to the
contrary, Tenant shall not be obligated to make alterations to the Premises to
comply with any Laws to the extent such alterations were required on or before
the Delivery Date, nor shall Tenant be obligated to make any alterations to
comply with any Laws if such alterations are requested after the Delivery Date
unless they are applicable to the Premises (i) because of tenant’s unique or
particular type of use (as opposed to being applicable to occupied space in
general), or (ii) because of any special requirements relating to
accommodations for individual employees, invitees and/or guests of Tenant, or
(iii) as a result of any improvements, alterations, additions or improvements
made by or on behalf of Tenant.  Tenant
shall not be obligated to make alterations to the Premises to comply with Laws
if same were in effect as of the Delivery Date, the cost of such compliance
shall be borne by Landlord and shall not be passed through as an Operating
Expense.  The judgment of any court of
competent jurisdiction or the admission of Tenant or Landlord in an action
against Tenant or Landlord, whether Tenant or Landlord is a party thereto or
not, that Tenant or Landlord have so violated any such law, statute, ordinance,
rule, regulation, or requirement, shall be conclusive evidence of such
violation as between Landlord and Tenant. 
Notwithstanding anything herein to the contrary, the Landlord shall comply
with all Laws relating to or affecting the public and common areas of the
Building and the Property, including lobbies, stairs, elevators, corridors, and
restrooms, the exterior windows in the Building, the mechanical, plumbing, and
electrical equipment serving the Building (excluding those systems serving the
Premises exclusively and also excluding therefrom any non-Building standard or
above Building standard alterations, additions or improvements made to Building
systems by or on behalf of Tenant), the roof, and the structure itself, parking,
access lanes and landscaped areas..

 

6.                                      ALTERATIONS

 

Tenant
shall not make or suffer to be made any alterations, additions, or improvements
in, on, or to the Premises or any part thereof without the prior consent of
Landlord; provided, however, that Tenant shall be permitted to make interior,
non-structural alterations

 

4

 

o the Premises without
Landlord’s consent provided such alterations do not affect the Building’s MEP
systems, life safety systems, HVAC system or structural integrity and do not
cost more than $20,000 in any twelve (12) month period..  Any such alterations, additions, or
improvements in, on, or to said Premises, except for Tenant’s movable furniture
and equipment, shall immediately become Landlord’s property and, at the end of
the term hereof, shall remain on the Premises without compensation to
Tenant.  In the event Landlord consents
to the making of any such alteration, addition, or improvement by Tenant, the
same shall be made by Tenant, at Tenant’s sole cost and expense, in accordance
with all applicable laws, ordinances, and regulations and all requirements of
Landlord’s and Tenant’s insurance policies, and in accordance with plans and
specifications approved by Landlord and any contractor or person selected by
Tenant to make the same and all subcontractors must first be approved in
writing at the time of installation by Landlord.  Upon the expiration or sooner termination of
the term herein provided, Tenant shall, at Tenant’s sole cost and expense,
forthwith and with all due diligence, remove any or all alterations, additions,
or improvements made by or for the account of Tenant which were designated by
Landlord at the time of installation in writing as alterations, additions or
improvements that must be removed by Tenant as of the expiration or earlier
termination of the Lease.  Otherwise,
Tenant shall have no obligation to remove any such alterations, additions or
improvements.  In addition,
notwithstanding anything herein to the contrary, in the event the Tenant is
permitted to remove an improvement within the Premises, or in the event the
permitted alteration to the Premises includes demolition, the Tenant shall not
be required to replace any such improvement or to construct any improvements
upon the termination of the Lease unless the Landlord required the same at the
time the Landlord granted its consent to such alterations.

 

 7.                                   TENANT REPAIR

 

(a)                                  By taking
possession of the Premises, Tenant accepts the Premises as being in the condition
in which Landlord is obligated to deliver them and otherwise in good order,
condition and repair.  Tenant shall, at
all times during the term hereof at Tenant’s sole cost and expense, keep the
interior, non-structural portions of the Premises and every part thereof
(including any Building elements or items exclusively serving the Premises),
excluding exterior windows and those Building systems serving the Building
generally, such as mechanical, electrical and plumbing systems, but including
any non-Building standard or above-Building standard alterations, additions or
improvements to the Premises or any Building system installed by or on behalf
of Tenant in good order, condition and repair, excepting ordinary wear and
tear, damage thereto by fire, earthquake, Act of God or the elements.  Tenant shall upon the expiration or sooner
termination of the term hereof, unless Landlord demands otherwise as in
Paragraph 6 hereof provided, surrender to Landlord the Premises in the same
condition as of the Commencement Date, ordinary wear and tear, damage by fire,
earthquake, Act of God, or the elements excepted; provided, however that Tenant
shall not be required to remove any alterations, additions or improvements
except as set forth in Section 6 above. 
It is hereby understood and agreed that Landlord has no obligation to
alter, remodel, improve, repair, decorate, or paint the Premises or any part
thereof and that no representations respecting the condition of the Premises or
the Building have been made by Landlord to Tenant, except as specifically
herein set forth.

 

(b)                                  Tenant shall pay
the cost of all necessary repairs resulting from all damage to the Building
including common areas, restrooms, hallways, elevators, or any other area,
fixture, or equipment of the Building caused by Tenant’s installation or
removal of its property or resulting from any negligence, act or conduct of
Tenant, its employees, contractors, agents, licensees or invitees.

 

(c)                                  All
maintenance or repairs made by Tenant shall be made in accordance with all
applicable laws, ordinances and regulations, and all requirements of Landlord’s
and Tenant’s insurance policies and any contractor or person selected by Tenant
to make the same, and all subcontractors must first be approved in writing by
Landlord if the cost of such work exceeds $10,000.00.  In any event, all repairs shall be equal in
quality and workmanship to the original work performed in the Premises.

 

8.                                      LIENS

 

Tenant
shall keep the Premises free from any liens arising out of any work performed,
material furnished, or obligations incurred by Tenant.  In the event that Tenant shall not, within
ten (10) days following Tenant’s actual knowledge or receipt of notice of the
imposition of any such lien, cause the same to be released of record by payment
or posting of a proper bond, Landlord shall have, in addition to all other
remedies provided herein and by law, the right, but not the obligation, to
cause the same to be released by such means as it shall deem proper, including
payment of the claim giving rise to such lien. 
All such sums paid by Landlord and all expenses incurred by it in
connection therewith shall be considered Additional Rent and shall be payable
to it by Tenant on demand and with interest at the rate of six percent (6%)
higher than the prime commercial lending rate from time to time of Wachovia
Bank of North Carolina; the interest rate so determined is hereinafter called
the “Agreed Interest Rate.”  Landlord
shall have the right at all times to post and keep posted on the Premises any
notices permitted or required by law, or which Landlord shall deem proper for
the protection of Landlord, the Premises, the Building, and any other party
having an interest therein, from mechanics’ and materialmens’ liens, and Tenant
shall give to Landlord at least five (5) business days prior written notice of
commencement of any construction on the Premises costing in excess of
$10,000.00..

 

9.                                      ASSIGNMENT AND SUBLETTING

 

(a)                                  Tenant
shall not sell, assign, encumber, or otherwise transfer by operation of law or
otherwise this Lease or any interest herein, sublet the Premises or any portion
thereof, or suffer any other person to occupy or use the Premises or any
portion thereof, without the prior written consent of Landlord as provided
herein, nor shall Tenant permit any lien to be placed on the Tenant’s interest
by operation of law.  Tenant shall, by
written notice, advise Landlord of its desire from and after a stated date
(which shall not be less than fifteen (15) days nor more than twenty-one (21)
days after the date of Tenant’s notice) to assign or sublet the Premises or any
portion for any part of the term hereof; and supply Landlord with such
information, financial statements, verifications and related materials as
Landlord may reasonably request or desire to evaluate the written request to
assign or sublet; and in such event Landlord shall have the right, to be
exercised by giving written notice to Tenant within ten (10) business days
after receipt of Tenant’s notice and all said information, financial
statements, verifications and related materials requested by Landlord, to
terminate this Lease as to the portion of the Premises described in Tenant’s
notice and such notice shall, if given, terminate this Lease with respect to
the portion of the Premises therein described as of the date stated in Tenant’s
notice.  In the event Landlord elects to
terminate the Lease pursuant to this Section 9, Tenant shall be permitted
to withdraw its notice to Landlord of its intent to assign the Lease or sublet
the Premises.  Said notice by Tenant
shall state the name and address of the proposed assignee or subtenant, and
Tenant shall deliver to Landlord a true and complete copy of the proposed
assignment or sublease with said notice. 
If said notice shall specify all of the Premises and Landlord shall give
said termination notice with respect

 

5

 

thereto, this Lease shall
terminate on the date stated in Tenant’s notice.  If, however, this Lease shall terminate
pursuant to the foregoing with respect to less than all the Premises, the Rent,
as defined and reserved hereinabove and as adjusted pursuant to the Basic Lease
Information and Paragraph 27 hereof, shall be adjusted on a pro rata basis to
the number of square feet retained by Tenant, and this Lease as so amended
shall continue thereafter in full force and effect.  If Landlord, upon receiving said notice by
Tenant with respect to any of the Premises, shall not exercise its right to
terminate, Landlord will not unreasonably withhold its consent to Tenant’s
subletting or assignment of the Premises specified in said notice; provided,
however, Landlord will be deemed reasonable in withholding its consent to any
such request based on:  (i) the poor
financial condition of the proposed assignee, sublessee or transferee; (ii) the
fact that the use of the proposed assignee, sublessee or transferee is not in
keeping with the nature of the Building or may affect the marketability of the
Building; (iii) the fact that the use contemplated by the proposed assignee,
sublessee or transferee would violate an exclusive granted by Landlord to
another tenant of the Building or otherwise; or (iv) the fact that the proposed
assignee, sublessee or transferee is a governmental subdivision or agency or
any person or entity who enjoys diplomatic or sovereign immunity.  Tenant shall, at Tenant’s own cost and
expense, discharge in full any commissions which may be due and owing as a
result of any proposed assignment or subletting.  Tenant shall pay to Landlord immediately upon
receipt fifty percent (50%) of all rent or other consideration received by
Tenant from any such assignee or subtenant, either initially or over the term
of the assignment or sublease which is in excess of the rental obligation
required under the terms of this Lease for the Premises or portion thereof for
which consent is granted less any costs, brokerage commissions or other costs
actually incurred by Tenant in connection with such assignment or sublease. In
addition, Tenant also agrees to pay to Landlord, promptly after consent to any
assignment or sublease, (i) the amount of all attorneys’ fees and expenses
incurred by Landlord in connection with any assignment or subletting issues or
review of documentation relating thereto, and (ii) $500.00 as an administrative
fee for Landlord’s time and effort in connection with any assignment or
subletting issues.

 

(b)                                  Any
assignment or subletting hereunder by Tenant shall not result in Tenant’s being
released or discharged from any liability under this Lease.  As a condition to Landlord’s prior written
consent as provided for in this Paragraph 9, the subtenant or subtenants or
assignees shall agree in writing to comply with and be bound by all of the
terms, covenants, conditions, provisions, and agreements of this Lease, and
Tenant shall deliver to Landlord promptly after execution, an executed copy of
each assignment or sublease and an agreement of said compliance by each
assignee or subtenant.  If an Event of
Default, as hereinafter defined, should occur while the Premises or any part
thereof are then sublet, Landlord, in addition to any other remedies herein
provided or provided by law, may at its option collect directly from the
subtenant all rents and other sums becoming due to Tenant under the sublease
and apply the rent against any sums due to Landlord by Tenant hereunder, and
Tenant hereby authorizes and directs any such subtenant to make payments of
rent directly to Landlord upon receipt of notice from Landlord.  No direct collection by Landlord from any
subtenant will be construed to constitute a novation or a release of Tenant
from the further performance of its obligations hereunder.  Receipt by Landlord of rent from any
assignee, subtenant, or occupant of the Premises will not be deemed a waiver of
the covenants contained in this Lease or a release of Tenant under the
Lease.  The receipt by Landlord from any
subtenant obligated to make payments of rent will be a full and complete
release, discharge, and acquittance to the subtenant of its obligations to
Tenant to the extent of any such amount of rent so paid to Landlord.

 

(c)                                  Landlord’s
consent to any sale, assignment, encumbrance, subletting, occupation, lien, or
other transfer shall not release Tenant from any of Tenant’s obligations
hereunder or be deemed to be consent to any subsequent occurrence.  Any sale, assignment, encumbrance,
subletting, occupation, lien or other transfer of this Lease which does not
comply with the provisions of this Paragraph 9 shall be void.

 

(d)                                  Any
transfer of this Lease by merger, consolidation, or liquidation or any change
in ownership of or power to vote the majority of outstanding voting stock of
Tenant or, if Tenant is a partnership, any withdrawal, replacement or
substitution of any partner or partners, either general or limited, shall
constitute an assignment, whether the result of a single or series of
transactions, and shall be subject to Landlord’s approval under Paragraph 9
(a).

 

(e)                                  Notwithstanding
the foregoing to the contrary, but subject to compliance with all other
provisions of this Lease (including, but not limited to, the “use” provisions
hereof), Tenant may assign this Lease or sublet the Premises or any portion
thereof, without Landlord’s consent, to any partnership, corporation or other
entity which controls, is controlled by, or is under common control with Tenant
or Tenant’s parent (control being defined for such purposes as ownership of at
least 50% of the equity interests in, and the power to direct the management
of, the relevant entity) (with any such entity being referred to herein as an “Permitted
Affiliate”), provided that (i) Landlord receives thirty (30) days’ prior
written notice of such assignment or subletting, (ii) Tenant and any guarantor
are not dissolved as a matter of law as a consequence of the assignment or
subletting or at any time thereafter, (iii) the Permitted Affiliate remains an
affiliate meeting the definition of “Permitted Affiliate” above for the
duration of the subletting or the balance of the Term in the event of an
assignment, (iv) the Permitted Affiliate assumes  in writing (the form of which shall be
subject to Landlord’s approval) all of Tenant’s obligations under this Lease,
as amended from time to time, and the prior Tenant and any guarantor are not
released from any of their respective obligations or liabilities under this
Lease, as amended from time to time, or any guaranty delivered to Lender in
connection with this Lease, (v) Landlord receives a fully executed copy of the
assignment or sublease agreement between Tenant and Permitted Affiliate, and
(vi) the primary purpose of such assignment or sublet is for legitimate
business reasons unrelated to this Lease, and the assignment or sublet is not a
subterfuge by Tenant to avoid its obligations under this Lease or the
restrictions on assignment and subletting contained herein.  Any attempted assignment or subletting in
violation of the preceding sentence shall be voidable at Landlord’s option.

 

(f)                                    Notwithstanding
the foregoing to the contrary, but subject to compliance with all other
provisions of this Lease (including, but not limited to, the “use” provisions
hereof), Tenant may assign this Lease without Landlord’s consent, to any
partnership, corporation or other entity resulting from a merger or consolidation
with Tenant, or to any person or entity which acquires substantially all the
assets or stock of Tenant as a going concern, (any of the foregoing being, a “Permitted
Successor”), provided that (i) Landlord receives thirty (30) days’ prior written
notice of such assignment, (ii) the Permitted Successor’s net worth, as
reasonably determined by Landlord, is not less than Tenant’s net worth as of
the date immediately prior to the assignment (iii) the Permitted Successor (or
in the case of a newly formed entity, its management) has proven experience in
the operation of a first-class business of a

 

6

 

type consistent with the
use of the Building as a first-class Building in the metropolitan Atlanta,
Georgia area,  (iv) the Permitted
Successor assumes in writing (the form of which shall be subject to Landlord’s
approval) all of Tenant’s obligations under this Lease, as amended from time to
time, and the prior Tenant and guarantor are not released from any of their
respective obligations or liabilities under this Lease, as amended from time to
time, or any guaranty delivered to Lender in connection with this Lease, (v)
Landlord receives a fully executed copy of the assignment between Tenant and
the Permitted Successor, and (vi) the primary purpose of such assignment is for
legitimate business reasons unrelated to this Lease, and the assignment is not
a subterfuge by Tenant to avoid its obligations under this Lease or the
restrictions on assignment contained herein. 
Any attempted assignment in violation of the preceding sentence shall be
voidable at Landlord’s option.

 

10.                               INSURANCE AND INDEMNIFICATION

 

(a)                                  Except
as otherwise expressly set forth in this Lease, Landlord shall not be liable to
Tenant and Tenant hereby waives all claims against Landlord and any of its
partners for any injury or damage to any person or property in or about the
Premises by or from any cause whatsoever, excepting Landlord’s negligence or
willful acts, and, without limiting the generality of the foregoing, whether
caused by water leakage of any character from the roof, walls, basement, or
other portion of the Premises or the Building, or caused by gas, fire, Acts of
God, discharge of sprinklers, excessive heat or cold, sewage, odors, noise,
bursting or leakage of pipes or plumbing fixtures, riot, strike, court order,
governmental body or authority, other tenants, or explosion of the Building or
the complex of which it may be a part or any part thereof.

 

(b)                                  Tenant shall hold
Landlord harmless from and defend Landlord against any and all claims or
liability from any injury or damage to any person or property whatsoever:  (i) occurring in, on, or about the Premises
or any part thereof unless such damage is caused by the negligence or willful
misconduct of Landlord, its agents, or employees, (ii) occurring in, on, or
about the Property (including without limitations, elevators, stairways,
passageways or hallways), when such injury or damage shall be caused in part or
in whole by the negligence or willful misconduct of Tenant, its agents,
servants, employees, or any other person entering the Premises with express or
implied invitation of Tenant, and (iii) against all costs, counsel fees,
expenses, and liabilities incurred in connection with any such claim or action
or proceeding brought thereon.  All
property in the Building or Premises belonging to Tenant, its agents,
employees, or invitees shall be there at the risk of Tenant.  Furthermore, in case any action or proceeding
be brought against Landlord by reason of any claims or liability, Tenant agrees
to defend such action or proceeding at Tenant’s sole expense by counsel
reasonably satisfactory to Landlord.  The
provisions of this Paragraph 10 shall survive the expiration or termination of
this Lease with respect to any claims or liability occurring prior to such
expiration or termination.

 

(c)                                  Landlord
does hereby indemnify and hold Tenant harmless against all claims for damaged
persons or property if caused by the (i) negligence or willful misconduct of
Landlord, its agents or employees and (ii) for on and against all costs,
counsel fees, expenses and liabilities incurred in connection with any such
claim or act or proceeding brought thereon.

 

(d)                                  Tenant agrees to
purchase at its own expense and to keep in force during the term of this Lease
the policies of insurance specified on Exhibit “H” attached to this Lease and
such commercially reasonable modifications to the same required by Landlord’s
mortgagee or otherwise required of other tenants in the Building or other
comparable Class A suburban office buildings located in the metropolitan
Atlanta, Georgia area.  The purchase of
such insurance shall not release Tenant of any legal obligations contained within
this Lease.

 

(e)                                  The indemnities
contained in this Paragraph 10 do not override the waivers contained in
Paragraph 11 below.

 

(f)                                    Landlord
shall maintain property damage insurance, with extended coverage and All Risk
endorsements, on the Building and the Property in an amount equal to not less
than 80% of the replacement value of the same. 
Landlord shall also maintain commercial general liability insurance in
commercially reasonable amounts consistent with that carried by other landlords
of similar Class “A” suburban office buildings located in the metropolitan
Atlanta area.

 

11.                               WAIVER OF SUBROGATION

 

Each
of Landlord and Tenant hereby releases the other from any and all liability or
responsibility to the other or anyone claiming through or under them by way of
subrogation or otherwise for any loss or damage to property caused by fire or
any other perils insured in policies of insurance covering such property, even
if such loss or damage shall have been caused by the fault or negligence of the
other party, or anyone for whom such party may be responsible, including any
other tenants or occupants of the remainder of the Building; provided, however,
that this release shall be applicable and in force and effect only to the
extent that such release shall be lawful at that time and in any event only
with respect to loss or damage occurring during such times as the releasor’s
policies shall contain a clause or endorsement to the effect that any such
release shall not adversely affect or impair said policies or prejudice the
right of the releasor to recover thereunder and then only to the extent of the
insurance proceeds payable under such policies. Each of Landlord and Tenant
agrees that it will require its insurance carriers to include in its policies
such a clause or endorsement.  Failure to
obtain such an endorsement shall not release the waiver contained in this Lease
and any deductible amounts shall be deemed amounts covered by insurance for
purposes of this Section 11.

 

12.                               LANDLORD
REPAIR, SERVICES AND UTILITIES

 

(a)                                  Landlord shall
keep and maintain the public and common areas of the Building and the Property,
including lobbies, stairs, elevators, corridors, and restrooms, the exterior
windows in the Building, the mechanical, plumbing, and electrical equipment
serving the Building (excluding those systems serving the Premises exclusively
and also excluding therefrom any non-Building standard or above Building
standard alterations, additions or improvements made to Building systems by or
on behalf of Tenant), the roof, and the structure itself, parking, access lanes
and landscaped areas in reasonably good order and condition except for damage
occasioned by the act of Tenant, which damage shall be repaired by Landlord at
Tenant’s expense, using standards comparable to other Class A suburban office
buildings located in the metropolitan Atlanta, Georgia area.

 

7

 

(b)                                  Landlord agrees
to furnish to the Premises:

(1)                                  heating
and air conditioning required in Landlord’s judgment for the comfortable use
and occupancy of the Premises during normal business hours;

(2)                                  elevator
service to Tenant’s floor, which shall mean service either by nonattended
automatic elevators or elevators with attendants, or both, at the option of the
Landlord, with at least one elevator operating 24 hours day, seven days a week;

(3)                                  water
to the restrooms and drinking fountains and kitchens;

(4)                                  electric
current in reasonably sufficient amounts for normal business use, including
operation of building standard lighting and general office machines of a type
which require no more than a 110 volt duplex outlet; and

(5)                                  janitorial
services customarily furnished in comparable Class A office buildings in the
immediate market area described more fully on Exhibit “E”.

(6)                                  up
to 60 access cards for the existing card key system, and such additional cards
that Tenant may request at its sole cost and expense.

 

(c)                                  Provided the
Tenant shall not be in default hereunder and subject to the provisions
elsewhere herein contained, including the Rules and Regulations of the
Building, Landlord agrees that, with respect to the Premises, and only during
normal business hours or, at Landlord’s option, after normal business hours, it
will maintain and adjust at its expense:

(1)                                  All
building standard fluorescent lighting. 
All incandescent and nonstandard fluorescent lights shall be maintained
at Tenant’s expense;

(2)                                  All
temperature control devices and air diffusers; and

(3)                                  All
Tenant entry door hardware, including locks, hinges, and closers.

 

Notwithstanding Section 12(a)
above to the contrary, Landlord hereby agrees to provide to Tenant the labor to
perform routine repair and maintenance to any non-Building standard or
above-Building standard alterations, additions or improvements made to the
Building systems or the Premises, provided that Tenant, at its sole cost and
expense, supplies all necessary replacement parts and/or equipment required to
perform such maintenance and/or repair. 
Landlord hereby reserves the right to charge Tenant for its labor costs
in the event Tenant requests that Landlord performs any repair or maintenance
services that are above Building standard or would not typically be included as
a landlord obligations for other comparable Class A suburban office buildings,
in the metropolitan Atlanta, Georgia area.

 

(d)                                  For the purpose
of this Lease, normal business hours shall be from 8:00 a.m. to 6:00 p.m.
Monday through Friday and from 8:00 a.m. to 1:00 p.m. on Saturday, excluding
national holidays such as Christmas, Easter, July 4th, Memorial
Day, Thanksgiving Day and New Year’s Day.

 

(e)                                  Landlord may
provide additional or after hours heating or air conditioning at Tenant’s
request upon reasonable notice, and Tenant shall pay the building standard
charge for such services as determined from time to time by Landlord. (which
after hours charge is currently $30.00) and the charge to Tenant shall never
exceed the charge to the tenant occupying the largest square footage in the
Building  The obligation hereunder to make such
additional utilities available will be subject to the rules and regulations of
any municipal or any other governmental authority regulating the business of
providing such utility service.  Tenant
agrees to keep closed all window coverings, if any, when necessary because of
the sun’s position, and Tenant also agrees at all times to cooperate fully with
Landlord and to abide by all regulations and requirements which Landlord may
prescribe for the proper functioning and protection of said heating,
ventilating, and air conditioning system. 
Tenant will not, without the written consent of Landlord, use any heat
generating equipment, machines, or excess lighting in the Premises which affect
the amount of energy required to maintain the temperature otherwise maintained
by the heating, ventilating, and air conditioning system.  In the event of such consent, Landlord
reserves the right to install supplementary air conditioning equipment and the
cost thereof, including the ongoing cost of additional electricity, chilled
water (if available), and/or domestic water consumed as a result of the use of
such equipment, shall be paid by Tenant to Landlord upon demand.  The type, size, and location of such
supplemental air conditioning equipment shall be determined or approved by
Landlord.

 

(f)                                    Tenant will not,
without written consent of Landlord, use within the Premises or Building any
device or machine, in any number or combination thereof or for any number of
hours, which will in any way increase the amount of electricity or water
normally furnished for use of the Premises as general office space as defined
in Paragraph 12(b)(4).  If Tenant in
Landlord’s judgment shall require such additional water or electrical current,
Tenant shall first procure the consent of Landlord, which Landlord may refuse,
and Landlord may cause a special meter to be installed so as to measure such
additional domestic water, chilled water (if available), or electrical
current.  The cost of any such meters and
of installation, maintenance, and repair thereof shall be paid for by Tenant,
and Tenant agrees to pay Landlord or the utility company, as the case may be,
on demand, for the ongoing cost of consumption of such additional water or
electricity.  In the event that Landlord
is responsible for reading the meter and invoicing the Tenant, Landlord shall
be entitled to charge the Tenant the reasonable additional expenses for so
doing.

 

(g)                                 Except as set
forth in the last sentence of this Section 12(g) or within Section 19(d),
Landlord shall not be in default hereunder or be liable for any damage, loss or
expense directly or indirectly resulting from, nor shall the Rent herein
reserved be abated by reason of, the (i) installation, use, or interruption of
use of any equipment in connection with the furnishing of any of the foregoing
services or utilities, or (ii) failure to furnish or delay in furnishing any
such services or utilities when such failure is caused by Acts of God or the
elements, strikes, governmental orders, accidents, acts of terrorism, or other
conditions beyond the reasonable control of the Landlord or by the making of
repairs or improvements to the Premises or to the Building; provided, however
that Landlord shall use commercially reasonable efforts to repair or restore
any services so delayed or impaired. 
Notwithstanding the foregoing, if any of the services set forth in Section 12(b)
above to the Premises are interrupted, Tenant shall provide Landlord prompt
written notice.  If any of such essential
services to the Premises are interrupted and the restoration of such interrupted
service is within the reasonable control of Landlord, and the interruption
renders all or a material portion of the Premises untenantable for a period of
five (5) or more consecutive business days following Landlord’s receipt of the
notice from Tenant as aforesaid (the “Service Interruption Period”), with
Tenant actually

 

8

 

discontinuing its
operations in all or any such material portion of the Premises for the Service
Interruption Period, the Rent due under this Lease shall be abated from the
expiration of the Service Interruption Period until the service is restored,
such abatement to be in proportion to the portion of the Premises that are so
rendered untenantable.

 

(h)                                 Notwithstanding
anything herein to the contrary, if Landlord’s entry into the Premises for any
purpose other than at the request or direction of Tenant or in connection with
a casualty or condemnation (which shall be governed by Sections 28 and 29
below), or if a failure of the Landlord to perform any of the obligations set
forth in Section 12(a) of this Lease renders all or a material portion of
the Premises untenantable for a period of five (5) or more consecutive business
days (the “Entry/Maintenance Interruption Period”), with Tenant actually
discontinuing its operations in all or any such material portion of the
Premises for the Entry/Maintenance Interruption Period, the Rent due under this
Lease shall be abated from the expiration of the Entry/Maintenance Interruption
Period until the Premises are again tenantable, such abatement to be in
proportion to the portion of the Premises that are so rendered untenantable.

 

(i)                                    It shall be
Tenant’s responsibility and expense to install, move, maintain, adjust, and
repair its property and fixtures, including but not limited to, its:  signage, pictures, bulletin boards, plaques,
furniture, filing cabinets, computer cables, computer equipment, business
machines, draperies, blinds, kitchen appliances, special water heaters, kitchen
cabinets, private restroom fixtures, special air conditioning or power
conditioning equipment, locks for furniture and filing cabinets, paging
systems, modular furniture components (including task lighting, flat wiring,
and power distribution cables), combination locks, specialty electrical
devices, exhaust fans, fire extinguishers, carpet squares, and/or other
furniture, fixtures, or equipment installed by Tenant, or which were supplied,
specified, or requested by Tenant and installed by Landlord.

 

(j)                                    Any sums payable
under this Paragraph shall be considered Additional Rent and Landlord shall
have the same remedies for a default in payment of such sums as for a default
in the payment of Rent.

 

(k)                                Tenant shall not
provide any janitorial services to the Premises without Landlord’s written
consent and then only subject to the terms and conditions of Landlord.

 

13.                               ESTOPPEL CERTIFICATE

 

Within
ten (10) days following any written request which Tenant or Landlord may make
from time to time, Tenant or Landlord shall execute and deliver to the other
party a certificate substantially in the form attached hereto as Exhibit “D”
and made a part hereof, indicating thereon any exceptions thereto which may
exist at that time.  Landlord and Tenant
intend that any statement delivered pursuant to this paragraph may be relied
upon by any mortgagee, beneficiary, purchaser, or prospective purchaser of the
Building or any interest therein.

 

14.                               HOLDING
OVER

 

Tenant
will, at the termination of this Lease by lapse of time or otherwise, yield up
immediate possession to Landlord.  If
Tenant retains possession of the Premises or any part thereof after such
termination or if any of Tenant’s property remains which Landlord has
previously requested be removed, then Landlord may, at its option, serve written
notice upon Tenant that such holding over constitutes any one of (i) creation
of a month to month tenancy, upon the terms and conditions set forth in this
Lease, or (ii) creation of a tenancy at sufferance, in any case upon the terms
and conditions set forth in this Lease; provided, however, that the monthly
rental [or daily rental under (iii)] shall, in addition to all other sums which
are to be paid by Tenant hereunder, whether or not as Additional Rent, be equal
to 150% the rental being paid monthly to Landlord under this Lease immediately
prior to such termination [prorated in the case of (iii) on the basis of a 365
day year for each day Tenant remains in possession].  If no such notice is served, then a tenancy
at sufferance shall be deemed to be created at the Rent in the preceding
sentence.  Tenant shall also pay to
Landlord all damages sustained by Landlord resulting from retention of
possession by Tenant, including the loss of any proposed subsequent tenant for
any portion of the Premises.  The
provisions of this paragraph shall not constitute a waiver by Landlord of any
right of entry as herein set forth; nor shall receipt of any Rent or any other
act in apparent affirmance of the tenancy operate as a waiver of the right to
terminate this Lease for a breach of any of the terms, covenants, or
obligations herein on Tenant’s part to be performed.

 

15.                               SUBORDINATION

 

Subject to the last
sentence of this Section 15, this Lease shall be subject and subordinate
at all times to: (a) all ground leases or underlying leases which may now exist
or hereafter be executed affecting the Building, the Property, or any part
thereof, and (b) the lien of any first mortgage or deed of trust which may now
exist or hereafter be executed in any amount for which said Building, land,
ground leases or underlying leases, or Landlord’s interest or estate in any of
said items is specified as security together with all renewals, modifications,
consolidations, participations, replacements, and extensions of any such first
mortgage or deed of trust. 
Notwithstanding the foregoing, Landlord or the holder of any first
mortgage or deed of trust (“Holder”) on the Building or the Property or any
part thereof shall have the right to subordinate or cause to be subordinated in
whole or in part any such ground leases or underlying leases or any such liens
to this Lease (but not in respect to priority of entitlement of insurance or
condemnation proceeds).  In the event
that any ground lease or underlying lease terminates for any reason or any
first mortgage or deed of trust is foreclosed or a conveyance in lieu of
foreclosure is made for any reason, Tenant shall, notwithstanding any
subordination, attorn to and become the Tenant of the successor in interest to
Landlord at the option of such successor in interest.  Tenant covenants and agrees to execute and
deliver, within 15 days of demand therefor by Landlord or the Holder and in the
form requested by Landlord or the Holder and reasonably approved by Tenant, any
additional documents evidencing the priority of subordination of this Lease
with respect to any such ground leases or underlying leases or the lien of any
such mortgage or deed of trust. 
Notwithstanding the foregoing to the contrary, (a)Tenant shall not be
required to subordinate or to execute any subordination document with any
Holder arising from and after the date of this Lease, unless, following Tenant’s
written request delivered to Landlord, the party seeking such subordination
executes a document which includes a commercially reasonable non-disturbance
agreement stating substantially that, so long as Tenant is not in Default under
this Lease,

 

9

 

Tenant’s right to possession of the Premises shall not
be disturbed, (b) Tenant shall not be required to attorn to and become the
Tenant of any successor in interest to Landlord unless the party seeking such
attornment exectes a document which includes a commercially reasonable
non-disturbance agreement stating substantially that, so long as Tenant is not
in Default under this Lease, Tenant’s right to possession of the Premises shall
not be disturbed, and (c) within thirty (30) days of the execution of this
Lease, the Tenant shall receive a subordination, non-disturbance and attornment
agreement from State Farm Life Insurance Company (“State Farm”), Landlord’s
existing mortgagee, in substantially similar form as that attached hereto as
Exhibit “K” (the “SNDA”).  Tenant shall
have the right to negotiate the SNDA in good faith with State Farm for the
first thirty (30) days following execution of this Lease; provided, however,
that Tenant agrees to accept delivery of the SNDA executed by State Farm in the
form attached as Exhibit “K” as satisfaction of Tenant’s requirements to obtain
an SNDA from State Farm pursuant to this Section 15.  In the event the Tenant does not receive the
SNDA (in the form attached in Exhibit “K” or otherwise as negotiated by Tenant)
within this thirty (30) day period, the Tenant shall provide the Landlord
notice of the same, and in the event the Tenant has not received the SNDA
within thirty (30) days following delivery of this notice to the Landlord, the
Tenant shall have the right to terminate this Lease by providing written notice
to Landlord thereof within five (5) days following the expiration of such
second thirty (30) day period.  In the
event that Tenant fails to timely terminate this Lease in accordance with this Section 15
on or before the date which is ninety –five (95) days following execution of
this Lease, Tenant’s right to terminate the Lease in accordance with this Section 15
shall lapse and be of no further force and effect. The Landlord represents and
warrants that, to the best of Landlord’s knowledge and as of the date of this
Lease,  no mortgage, deed to secure debt,
deed of trust, security deed, or the like created by or on behalf of Landlord
encumbers the Property except for that certain deed to secure debt held by
State Farm.

 

16.                               RULES AND REGULATIONS

 

Tenant
shall faithfully observe and comply with the Rules and Regulations annexed to
this Lease as Exhibit “A” and all reasonable modifications thereof and
additions thereto from time to time put into effect by Landlord but Landlord
shall enforce the rules and regulations in a non-discriminatory manner, provided
such modification and additions do not materially increase Tenant’s obligations
or materially decrease Tenant’s rights under this Lease.  Landlord shall not be responsible for the
nonperformance by any other tenant or occupant of the Building of any said
Rules and Regulations provided such Rules and Regulations are uniformally
enforced.

 

17.                               ENTRY
BY LANDLORD

 

Landlord
reserves and shall at all times, following at least 24 hours advance notice
(unless in the case of an emergency in which case no prior notice shall be
required) have the right to enter the Premises to inspect the same to determine
if Tenant is complying with all terms and provisions of this Lease, to perform
Tenant’s obligations under this Lease in accordance with Paragraph 23 hereof,
to supply janitorial service and any other service to be provided by Landlord
to Tenant hereunder, to show said Premises to prospective purchasers,
mortgagees, or tenants, to post notices of nonresponsibility, and to alter,
improve, or repair the Premises and any portion of the Building of which the
Premises are a part or to which access is conveniently made through the
Premises, as required under this Lease without abatement of Rent (except as
otherwise set forth in Section 12(h)), and may for that purpose erect,
use, and maintain scaffolding, pipes, conduits, and other necessary structures
in and through the Premises where reasonably required by the character of the
work to be performed, provided that entrance to the Premises shall not be
blocked thereby, and further provided that the business of Tenant shall not be
interfered with unreasonably.  During any
entry into the Premises, Landlord shall use commercially reasonable efforts to
minimize interference with Tenant’s business, or the loss of occupancy or quiet
enjoyment of the Premises, or any other loss occasioned thereby.  For each of the aforesaid purposes, Tenant
agrees that its doors shall be keyed to Landlord’s building standard master
keying system and that Landlord shall at all times have and retain master or
pass keys with which to unlock all of the doors in, upon, and about the
Premises, excluding Tenant’s vaults and safes, or special security areas
(designated in advance), and Landlord shall have the right to use any and all
means which Landlord may deem necessary or proper to open said doors in an
emergency, in order to obtain entry to any portion of the Premises, and any
entry to the Premises, or portions thereof obtained by Landlord by any of said
means, or otherwise, shall not under any circumstances be construed or deemed
to be a forcible or unlawful entry into, or a detainer of, the Premises, or an
eviction, actual or constructive, of Tenant from the Premises or any portions
thereof.  Landlord shall also have the
right at any time, without the same constituting an actual or constructive
eviction and without incurring any liability to Tenant therefor, to change the
arrangement and/or location of entrances or passageways, doors and doorways,
and corridors, elevators, stairs, toilets, or other public parts of the
Building; provided the same does not materially or adversely affect the
operation of Tenant’s business within the Premises.  Notwithstanding anything herein to the
contrary, Landlord shall not be permitted to show the Premises to a prospective
tenant of the Premises until the last 12 months of the term of this Lease and
only in the event that Tenant has not exercised its option to renew the Lease
as set forth in Special Stipulation Number 2 set forth on Exhibit “I” attached
hereto.

 

18.                               INSOLVENCY OR BANKRUPTCY

 

The
appointment of a receiver to take possession of all or substantially all of the
assets of Tenant, or an assignment of Tenant for the benefit of creditors, or
any action taken or suffered by Tenant under any insolvency, bankruptcy, or
reorganization act, shall at Landlord’s option constitute a breach of this
Lease by Tenant if the same is not released or otherwise cured by Tenant within
30 days notice of same.  Upon the
happening of any such event or at any time thereafter (following notice and
Tenant’s opportunity to cure), this Lease shall terminate thirty (30) days
after written notice of termination from Landlord to Tenant.  In no event shall this Lease be assigned or
assignable by operation of law or by voluntary or involuntary bankruptcy
proceedings or otherwise and in no event shall this Lease or any rights or
privileges hereunder be an asset of Tenant under any bankruptcy, insolvency, or
reorganization proceedings.

 

19.                               DEFAULT

 

(a)                                  The following
events shall be deemed to be events of default (“Event of Default”) by Tenant
under this Lease:

 

(1)                                  Tenant
shall fail to pay when or before due any sum of money becoming due to be paid
to Landlord hereunder, whether such sum be any installment of the Rent herein
reserved, any other amount treated as Additional Rent hereunder, or any other
payment or reimbursement to Landlord required herein, whether or not treated as
Additional Rent hereunder, and such failure shall continue for a period of five
(5) days following written notice from Landlord that

 

10

 

same
was not received when due; provided, however, that in no event shall Landlord
be required to send notice to Tenant of late Rent or other charges more than
two (2) times during any twelve (12) month period during the Term; or

 

(2)                                  Tenant
shall fail to comply with any term, provision, or covenant of this Lease other
than by failing to pay when or before due any sum of money becoming due to
Landlord hereunder, and shall not cure such failure within twenty (20) days
(forthwith, if the default involves a hazardous condition) after written notice
thereof to Tenant, provided, however, that if such Event of Default cannot
reasonably be cured within this 20 day period, Tenant shall have such longer
period of time as may be reasonably necessary under the circumstances provided
that Tenant diligently commences the cure and prosecutes the cure to
completion; or

 

(3)                                  Intentionally
omitted; or

 

(4)                                  Tenant
shall fail to vacate the Premises within forty-five days of the termination of
this Lease, by lapse of time or otherwise, or upon termination of Tenant’s
right to possession only (provided, however, that for any period following the
expiration or termination of this Lease or termination of Tenant’s right to
possession of the Premises, the provisions of Section 14 shall apply); or

 

(4)                                  The
leasehold interest of Tenant shall be levied upon under execution or be
attached by process of law or Tenant shall fail to contest diligently the
validity of any lien or claimed lien and give sufficient security to Landlord
to insure payment thereof or shall fail to satisfy any judgment rendered
thereon and have the same released, and such default shall continue for ten
(10) days after written notice thereof to Tenant, provided, however, that if
such Event of Default cannot reasonably be cured within this 10 day period,
Tenant shall have such longer period of time as may be reasonably necessary
under the circumstances provided that Tenant diligently commences the cure and
prosecutes the cure to completion; or

 

(5)                                  Intentionally
omitted; or

 

(6)                                  Default
by the Guarantor of this Lease of the terms of its Guaranty, or the bankruptcy
or insolvency of the Guarantor.

 

(b)                                 Upon
the occurrence of any Event of Default described in this Paragraph or elsewhere
in this Lease, Landlord shall have the option to pursue any one or more of the
following remedies without any notice or demand whatsoever:

 

(1)                                  Landlord
may, at its election, terminate this Lease or terminate Tenant’s right to
possession only, without terminating the Lease;

 

(2)                                  Upon
any termination of this Lease, whether by lapse of time or otherwise, or upon
any termination of Tenant’s right to possession without termination of the
Lease, Tenant shall surrender possession and vacate the Premises immediately
and deliver possession thereof to Landlord, and Tenant hereby grants to
Landlord full and free license to enter into and upon the Premises in such
event with or without process of law and to repossess Landlord of the Premises
as of Landlord’s former estate and to expel or remove Tenant and any others who
may be occupying or within the Premises and to remove any and all property
therefrom, without being deemed in any manner guilty of trespass, eviction, or
forcible entry or detainer, and without incurring any liability for any damage
resulting therefrom, Tenant hereby waiving any right to claim damage for such
re-entry and expulsion, and without relinquishing Landlord’s right to rent or
any other right given to Landlord hereunder or by operation of law;

 

(3)                                  Upon
termination of this Lease, whether by lapse of time or otherwise, Landlord
shall be entitled to recover as damages, all Rent, including any amounts
treated as Additional Rent hereunder, and other sums due and payable by Tenant
on the date of termination, plus the sum of: 
(i) an amount equal to the then present value of the entire amount of
the Rent calculated using a discount rate equal to the average published Prime
Rate plus six percent (6%) as of the date of termination of this Lease,
including any amounts treated as Additional Rent hereunder, and other sums
provided herein to be paid by Tenant for the residue of the stated term hereof,
less the fair rental value of the Premises for such residue (taking into account
the time and expense necessary to obtain a replacement tenant or tenants,
including expenses hereinafter described in Paragraph 19(b)(4) relating to
recovery of the Premises, preparation for reletting and for reletting itself),
and (ii) the cost of curing any existing defaults under the Lease.

 

(4)                                  (i)
Upon any termination of Tenant’s right to possession only without termination
of the Lease, Landlord may, at Landlord’s option, enter into the Premises,
remove Tenant’s signs and other evidences of tenancy, and take and hold
possession thereof as provided in Paragraph 19(b)(2) above, without such entry
and possession terminating the Lease or releasing Tenant, in whole or in part,
from any obligation, including Tenant’s obligation to pay the Rent, including any
amounts treated as Additional Rent, hereunder for the full term.  In any such case, Tenant shall pay forthwith
to Landlord, a sum as determined by Section 19(b)(3) above;

 

(ii) Subject to Section 19(b)(7) below, Landlord
may, but need not, relet the Premises or any part thereof for such Rent and
upon such terms as Landlord in its sole discretion shall determine (including
the right to relet the Premises for a greater or lesser term than that
remaining under this Lease, the right to relet the Premises as a part of a
larger area, and the right to change the character or use made of the Premises)
and Landlord shall not be required to accept any tenant offered by Tenant or to
observe any instructions given by Tenant about such reletting.  In any such cases, Landlord may make all
necessary or reasonable repairs and alterations (including, removal of certain
alterations, improvements or additions) in or to the Premises to return the
Premises to the condition required at the expiration of the

 

11

 

Lease
pursuant to the terms hereof, and Tenant shall, upon demand, pay the cost
thereof, together with Landlord’s expenses of reletting including, without
limitation, any broker’s commission incurred by Landlord.  If the consideration collected by Landlord
upon any such reletting plus any sums previously collected from Tenant are not
sufficient to pay the full amount of all Rent, including any amounts treated as
Additional Rent hereunder and other sums reserved in this Lease for the
remaining term hereof, together with the costs of any repairs, alterations, and
Landlord’s expenses of reletting and the collection of the Rent accruing
therefrom (including attorney’s fees and broker’s commissions,) Tenant shall
pay to Landlord the amount of such deficiency as and when the same becomes due,
upon demand, and Tenant agrees that Landlord may file suit to recover any sums
failing due under this section from time to time;

 

(5)                                  Landlord
may, at Landlord’s option, enter into and upon the Premises, in accordance with
all applicable Laws, if Landlord determines in its sole discretion that Tenant
is not acting within a commercially reasonable time to maintain, repair, or
replace anything for which Tenant is responsible hereunder and correct the
same, without being deemed in any manner guilty of trespass, eviction or
forcible entry and detainer, and without incurring any liability for any damage
resulting therefrom, and Tenant agrees to reimburse Landlord, as and when the
same becomes due, on demand, as Additional Rent, for any expenses which
Landlord may incur in thus effecting compliance with Tenant’s obligations under
this Lease;

 

(6)                                  Any
and all property which may be removed from the Premises by Landlord pursuant to
the authority of the Lease or by law, to which Tenant is or may be entitled,
may be handled, removed, and stored, as the case may be, by or at the direction
of Landlord at the risk, cost, and expense of Tenant, and Landlord shall in no
event be responsible for the value, preservation, or safekeeping thereof.  Tenant shall pay to Landlord, upon demand,
any and all expenses incurred in such removal and all storage charges against
such property so long as the same shall be in Landlord’s possession or under
Landlord’s control.  Any such property of
Tenant not retaken by Tenant from storage within thirty (30) days after removal
from the Premises shall, at Landlord’s option, be deemed conveyed by Tenant to
Landlord under this Lease as by a bill of sale without further payment or
credit by Landlord to Tenant.

 

(7)                                  Solely
in connection with Landlord’s exercise of the remedies provided at Section 19(b)(4)(ii)
above, Landlord hereby agrees to use commercially reasonable efforts to relet
the Premises in mitigation of its damages but Landlord shall be entitled to
give an absolute preference to any other vacant or available space in the
Building or Landlord’s other properties located within the same market area as
the Building before attempting to relet the Premises.

 

(c)                                  Pursuit of any of
the foregoing remedies shall not preclude pursuit of any of the other remedies
herein provided or any other remedies provided by law (all such remedies being
cumulative,) nor shall pursuit of any remedy herein provided constitute a
forfeiture or waiver of any Rent due to Landlord hereunder or any damages
accruing to Landlord by reason of the violation of any of the terms,
provisions, and covenants herein contained. 
No act or thing done by Landlord or its agents during the term hereby
granted shall be deemed a termination of this Lease or an acceptance of the
surrender of the Premises, and no agreement to terminate this Lease or accept a
surrender of the Premises shall be valid unless in writing signed by
Landlord.  Landlord’s acceptance of the
payment of rental or other payments hereunder after the occurrence of an Event
of Default shall not be construed as a waiver of such default, unless Landlord
so notifies Tenant in writing. 
Forbearance by Landlord in enforcing one or more of the remedies herein
provided upon an Event of Default shall not be deemed or constitute a waiver of
such default or of Landlord’s right to enforce any such remedies with respect
to such default or any subsequent default.

 

(d)                                  Landlord
Default.

 

(1)                                  If
Landlord fails to observe or perform any term or covenant required to be
observed or performed by it under this Lease which failure materially,
adversely affects Tenant’s use and occupancy of or access to the Premises, and
Landlord does not cure such failure within thirty (30) days (or within a
reasonable time thereafter if necessary under the circumstances so long as
Landlord is diligent in its prosecution of the cure of such failure) after
receipt of written notice from Tenant specifying such failure and requesting
that it be remedied, then, subject to the provisions of Section 39 of the
Lease, Tenant shall be entitled, at its election, to exercise concurrently or
successively, any one or more of the rights available in law or equity under
the laws of the United States or the State of Georgia.  Notwithstanding the foregoing to the
contrary, Tenant shall have no right, and hereby expressly waives any right to,
perform any work on behalf of Landlord or otherwise exercise “self help” and
any right to deduct or withhold any amounts from any rentals due
hereunder.  Tenant acknowledges and
agrees that all of its covenants and obligations contained herein are
independent of Landlord’s covenants and obligations contained herein.  Tenant shall neither be relieved from the
performance of any of its covenants and obligations (including, without
limitation, the obligation to pay Rent) nor entitled to terminate this Lease,
due to a breach or default by Landlord of any of its obligations covenants or
obligations, unless expressly permitted to the contrary by the terms of this
Lease.

 

(2)                                  If
(i) Tenant provides prior written notice (the “First Notice”) to Landlord of
its failure to comply with any term, provision, or covenant of this Lease, (ii)
Landlord is, in fact, required to comply with any such term, provision or
covenant of this Lease and the ability to comply with such term, provision or
covenant is within the reasonable control of Landlord (“Required Obligation”),(iii)
Landlord fails to commence such action within a reasonable period of time,
given the circumstances, after the receipt of the First Notice, but in any
event not later than thirty (30) days after receipt of the First Notice, and
thereafter diligently pursues the Required Obligation to completion as soon as
reasonably possible, then Tenant shall have the right to terminate the Lease
after delivery of an additional thirty (30)

 

12

 

day
notice (the “Second Notice”) to Landlord and any Holder for which Landlord has
given Tenant an address for notices or for which Tenant has entered into a
subordination, non-disturbance and attornment agreement (the “Landlord’s
Mortgagee”) (such Second Notice given not earlier than the expiration of the
first aforesaid thirty (30) day period) specifying that (x) the first thirty
(30) day period has expired, (y) the specific Required Action and (z) that
Tenant intends to terminate the Lease in the event Landlord fails to take such
action; provided, however, if Tenant reasonably anticipates that a dispute will
result under this Section 19(d), Tenant may submit the anticipated dispute
to arbitration pursuant to Exhibit “J” attached hereto by written notice given
not earlier than ten (10) days after Tenant’s delivery of the First
Notice.  Tenant shall not be entitled to
terminate the Lease in accordance with this Section 19(d) unless Landlord’s
failure to perform the Required Action directly, materially and adversely
affects Tenant’s use of or access to the Premises, rendering all, or
substantially all of the Premises untenantable and Tenant actually discontinues
its business operations within the entire Premises or substantially all of the
Premises from and after delivery of the First Notice.

 

If (i)
Landlord reasonably believes that the requested maintenance and/or repair and/or
service is not required because it is not a Required Obligation pursuant to the
terms of the Lease, or (ii) Landlord is already performing the Required
Obligation or other action Landlord reasonably believes appropriate in the
circumstances in accordance with its obligations under the Lease, or (iii)
Landlord does not reasonably believe that the failure to perform such Required
Obligation results in a direct, material and adverse effect on Tenant’s use or
access of the Premises rendering all, or substantially all of the Premises
untenantable, then Landlord shall have the option within the thirty (30) day
period after receipt of the Second Notice to submit the dispute to arbitration
pursuant to Exhibit “J’ attached hereto or commence the requested repair and/or
maintenance obligations and/or service and diligently pursue such action to
completion as soon as reasonably possible. 
If such repair and/or maintenance obligations and/or service restoration
is a Required Obligation and is not undertaken by Landlord within such second
thirty (30) day notice period and Landlord has not submitted the dispute to
arbitration in accordance with Exhibit “J” attached hereto, then Tenant shall
have the right to terminate this Lease by delivering written notice to Landlord
and any Landlord’s Mortgagee of such termination, and this Lease shall
terminate on the date which is five (5) days following the date of delivery of
such notice to both parties and Landlord and Tenant shall have no further
rights or obligations to the other accruing under the Lease after such
termination date.

 

 20.                            DAMAGE BY FIRE, ETC.

 

(a)                                  If the Building,
improvements, or Premises are rendered partially or wholly untenantable by fire
or other casualty, and if such damage cannot, in Landlord’s reasonable
estimation, be materially restored within one hundred twenty (120) days of such
damage, then either may terminate this Lease as of the date of such fire or
casualty.  Landlord shall exercise its
option provided herein by written notice to Tenant within sixty (60) days of
such fire or other casualty and Tenant shall exercise its option by providing
Landlord written notice within thirty (30) days of receipt of notice from
Landlord that the repairs cannot be completed within one hundred twenty (120)
days of the date of such casualty.  For
purposes hereof, the Building, improvements, or Premises shall be deemed “materially
restored” if they are in such condition as would not prevent or materially
interfere with Tenant’s use of the Premises for the purpose for which it was
then being used. Notwithstanding
the foregoing to the contrary, if a casualty of the type described above first
occurs during the final twelve (12) months of the Term (which is calculated
based on the expiration of the then current Term without regard to any
unexercised options to extend), then Tenant may, at its option, elect to
terminate this Lease upon written notice to Landlord within thirty (30) days
after the casualty, whereupon the balance of the Term shall automatically
expire on the fifth day after the notice is delivered and Landlord shall have
no restoration obligations pursuant to this Section 20.  In the event Tenant fails to properly and
timely deliver such notice of termination, Tenant shall be deemed to have
waived such right to terminate.

 

(b)                                  If this Lease is
not terminated pursuant to Paragraph 20(a), then Landlord shall proceed with
all due diligence to repair and restore the Building, at Landlord’s cost, or
the improvements or Premises at Tenant’s cost, as the case may be.  During the time period of any repair,
Landlord shall use commercially reasonable efforts to provide the Tenant with
temporary space from which to operate during such repair period, provided,
however, Landlord is in no way obligated to provide Tenant with such temporary
space if same is not readily available.

 

(c)                                  If this Lease
shall be terminated pursuant to this Paragraph 20(a), the term of this Lease
shall end on the date of such damage as if that date had been originally fixed
in this Lease for the expiration of the term hereof.  If this Lease shall not be terminated
pursuant to this Paragraph 20(a) and in the event that Landlord should fail to
complete such repairs and material restoration within one hundred fifty (150)
days after the date of such damage, Tenant may, at its option and as its sole
remedy, terminate this Lease by delivering written notice to Landlord,
whereupon the Lease shall end on the date of such notice as if the date of such
notice were the date originally fixed in this Lease for the expiration of the
term hereof; provided, however, that if construction is delayed because of
changes, deletions, or additions in construction requested by Tenant, strikes,
lockouts, casualties, Acts of God, war, material or labor shortages,
governmental regulation or control or other causes beyond the reasonable
control of Landlord, the period for restoration, repair or rebuilding shall be
extended for the amount of time Landlord is so delayed.

 

(d)                                  Tenant agrees
that during any period of restoration or repair of the Premises, Tenant shall
continue the operation of Tenant’s business within the Premises to the extent
practicable.  During the period from the
date of the damage until the date that the untenantable portion of the Premises
is materially restored, the Rent shall be abated to the extent of the
proportion of the Premises which is untenantable.

 

(e)                                  In no event shall
Landlord be required to rebuild, repair or replace any part of the partitions,
fixtures, additions and other improvements which may have been placed in or
about the Premises by Tenant after the Commencement Date, however Landlord has
the

 

13

 

right but not the
obligation to rebuild, repair, or replace at Tenant’s expense so much of the
partitions, fixtures, additions and other improvements as may be necessary to
ensure that the Premises are materially restored.  Any insurance which may be carried by
Landlord or Tenant against loss or damage to the Building or Premises shall be
for the sole benefit of the party carrying such insurance and under its sole
control except that Landlord’s insurance may be subject to control by (i) the
holder or holders of any indebtedness secured by a mortgage or deed of trust
covering any interest of Landlord in the Premises, the Building, or the
Property, and/or (ii) the ground lessor of the Property.

 

(f)                                    Notwithstanding
anything herein to the contrary, in the event the holder of any indebtedness
secured by a mortgage or deed of trust covering the Premises, Building, or
Property requires that any insurance proceeds be paid to it, then Landlord
shall have the right to terminate the Lease by delivering written notice of
termination to Tenant within fifteen (15) days after such requirement is made
by any such person, whereupon the Lease shall end on the date of such damage as
if the date of such damage were the date originally fixed in this Lease for the
expiration of the term.  Landlord shall
use commercially reasonable efforts to determine whether such requirement shall
apply within 60 days following the date of the casualty.

 

(g)                                 In the event of
any damage or destruction to the Building or the Premises by any peril covered
by the provisions of this Paragraph 20, Tenant shall, upon notice from
Landlord, remove forthwith, at its sole cost and expense, all or such portion
of the property belonging to the Tenant or its licensees from all of the
Building or the Premises, or such portion, as Landlord shall request.  Tenant hereby acknowledges and agrees that
Landlord shall not be liable for any loss, liability, costs, and expenses,
including attorney’s fees, arising out of any claim or damage or injury as a
result of any alleged failure to secure the Premises properly prior to such
removal and/or during such removal, except for any claim, damage or injury
caused by Landlord’s negligence or willful misconduct.

 

21.                               CONDEMNATION

 

(a)                                  If
any substantial part of the Building, improvements, or Premises should be taken
for any public or quasi-public use under governmental law, ordinance, or
regulation, or by right of eminent domain, or by private purchase in lieu
thereof and the taking would prevent or materially interfere with Tenant’s then
existing permitted use of the Premises, this Lease shall terminate effective
when the physical taking shall occur in the same manner as if the date of such
taking were the date originally fixed in this Lease for the expiration of the
term hereof; provided, however, Tenant shall have a reasonable time to vacate
the Premises following notice of such taking or the proposed effective date of
such taking.

 

(b)                                  If part of the
Building, improvements, or Premises shall be taken for any public or
quasi-public use under any governmental law, ordinance or regulation, or by
right of eminent domain, or by private purchase in lieu thereof, and this Lease
is not terminated as provided in Paragraph 21 (a), this Lease shall not
terminate but the Rent payable hereunder during the unexpired portion of this
Lease shall be reduced to such extent, if any, as may be fair and reasonable
under all of the circumstances, and Landlord shall undertake to restore the
Building, improvements, and Premises to a complete architectural unit and in a
condition suitable for Tenant’s use, as near to the condition thereof prior to
such taking as is reasonably feasible under all circumstances.

 

(c)                                  Tenant shall not
share in any condemnation award or payment in lieu thereof or in any award for
damages resulting from any grade change of adjacent streets, the same being
hereby assigned to Landlord by Tenant; provided, however, that Tenant may
separately claim and receive from the condemning authority, if legally payable,
compensation for Tenant’s removal and relocation costs and for Tenant’s loss of
business and/or business interruption, except that no such claim shall diminish
or otherwise adversely affect Landlord’s award or the awards of any and all
ground and underlying lessors and mortgagees (including deed of trust
beneficiaries).

 

(d)                                  Notwithstanding
anything to the contrary contained in this Paragraph 21, if the temporary use
or occupancy of any part of the Premises shall be taken or appropriated under
power of eminent domain during the term of this Lease, this Lease shall be and
remain unaffected by such taking or appropriation and Tenant shall receive an
abatement for Rent payable hereunder by Tenant during the term of this Lease
during the period for which Tenant is not able to conduct its business
operation within the Premises, in proportion to the amount of the Premises so
taken or appropriated; in the event of any such temporary appropriation or
taking, Tenant shall be entitled to receive that portion of any award which
represents compensation for the use of or occupancy of the Premises during the
term of this Lease, and Landlord shall be entitled to receive that portion of
any award which represents the cost of restoration of the Premises and the use
and occupancy of the Premises after the end of the term of this Lease.

 

22.                               SALE
BY LANDLORD

 

The
covenants and obligations of Landlord hereunder shall be binding upon the
Landlord named herein and its successors and assigns, only with respect to
their respective periods of time as Landlord hereunder.  In the event of a sale or conveyance by
Landlord of the Building, the same shall operate to release Landlord from any
liability for a failure to perform thereafter upon any of the covenants or
conditions, express or implied, herein contained in favor of Tenant, and in
such event Tenant agrees to look solely to the successor in interest of Landlord
in and to this Lease.  Tenant agrees to
attorn to the purchaser or assignee in any such sale provided such purchaser or
assignee agrees to assume Landlord’s obligations under this Lease

 

23.                               RIGHT OF LANDLORD TO PERFORM

 

All
covenants and agreements to be performed by the Tenant under any of the terms
of this Lease shall be performed by Tenant at Tenant’s sole cost and expense
and without any abatement of Rent.  If
the Tenant shall fail to pay any sum of money, other than Rent, required to be
paid by it hereunder or shall fail to perform any other act on its part to be
performed hereunder, and such failure shall continue past the time periods
proscribed in Section 19(a) herein, the Landlord may, but shall not be
obligated so to do, and without waiving or releasing the Tenant from any
obligations of the Tenant, make any such payment or perform any such act on the
Tenant’s part to be made or performed as in this Lease provided.  All sums so paid by the Landlord and all
necessary incidental costs, together with interest thereon at the Agreed
Interest Rate as defined in Paragraph 8 hereof from the date of such payments
by the Landlord, shall be payable as Additional Rent to the Landlord within ten
(10) days of demand therefor, and the Tenant covenants to pay any such sums,
and the Landlord shall have, in addition to any other right or remedy of the
Landlord, the same rights and remedies in the event of nonpayment thereof by
the Tenant as in the case of default by the Tenant in the payment of the Rent.

 

14

 

24.                               SURRENDER OF PREMISES

 

(a)                                  Tenant shall, at
least one hundred twenty (120) days before the last day of the term hereof,
give to Landlord a written notice of intention to surrender the Premises on
that date, but nothing contained herein or in the failure of Tenant to give
such notice shall be construed as an extension of the term hereof or as consent
of Landlord to any holding over by Tenant.

 

(b)                                  At the end of the
term or any renewal thereof or other sooner termination of this Lease, the
Tenant will peaceably deliver up to the Landlord possession of the Premises,
together with all improvements or additions upon or belonging to the same, by
whomsoever made, in the same condition as received, or first installed, reasonable
wear and tear, damage by fire, earthquake, Act of God, or the elements alone
excepted.  Tenant may, upon the
termination of this Lease, remove all movable furniture and equipment belonging
to Tenant, at Tenant’s sole cost, repairing any damage caused by such
removal.  Property not so removed shall
be deemed abandoned by the Tenant, and title to the same shall thereupon pass
to Landlord.  Upon request by Landlord,
unless otherwise agreed to in writing by Landlord, Tenant shall remove, at
Tenant’s sole cost, any improvements or additions to the Premises installed by
or at the expense of Tenant, which Landlord requires removal in accordance with
Section 6 hereof, and all movable furniture and equipment belonging to
Tenant which may be left by Tenant and repair any damage resulting from such
removal.

 

(c)                                  The voluntary or
other surrender of this Lease by Tenant, or a mutual cancellation thereof,
shall not work a merger, and shall, at the option of the Landlord, either
terminate all or any existing subleases or subtenancies, or operate as an
assignment to Landlord of any or all such subleases or subtenancies.

 

25.                               WAIVER

 

If
either Landlord or Tenant waives the performance of any term, covenant, or
condition contained in this Lease, such waiver shall not be deemed to be a
waiver of any subsequent break or nonperformance of the same or any other term,
covenant, or condition contained herein. 
Furthermore, the acceptance of Rent by Landlord shall not constitute a
waiver of any preceding breach by Tenant of any term, covenant or condition of
this Lease, regardless of Landlord’s knowledge of such preceding breach at the
time Landlord accepted such Rent. 
Failure by Landlord to enforce any of the terms, covenants, or
conditions of this Lease for any length of time shall not be deemed to waive or
to decrease the right of Landlord to insist thereafter upon strict performance
by Tenant.  Waiver by Landlord of any
term, covenant, or condition contained in this Lease may only be made by a
written document signed by Landlord.

 

26.                               NOTICES

 

All
notices and demands which may or are required to be given by either party to
the other hereunder shall be in writing and shall be deemed given when
delivered or when mailed as required below or when delivery is refused.  All notices and demands by the Landlord to
the Tenant shall be either delivered to the addresses set forth in the Basic
Lease Information or sent by a commercial interstate courier service offering
proof of delivery or by United States Certified or Registered mail, postage and
fees prepaid, addressed to the Tenant at the addresses set forth in the Basic
Lease Information, or to such other place as the Tenant may from time to time
designate in a notice to the Landlord. 
All notices and demands by the Tenant to the Landlord shall be sent by
United States Certified or Registered mail, postage prepaid, or reputable
overnight delivery service addressed to the Landlord at each of the addresses
specified in the Basic Lease Information, or to such other firm or to such other
place as Landlord may from time to time designate in a notice to the
Tenant.  If requested by Landlord, Tenant
shall send copies of any notices and demands by Tenant to the holder or holders
of any mortgage or deed of trust on the Property or any part thereof.

 

27.                               RENTAL ADJUSTMENT

 

(a)                                  The
initial Expense Stop Rent is  $7.00 per rentable
square foot per year, or Fifteen Thousand Three Hundred Thirty-two and
91/100ths Dollars  ($15,332.91)
per month as set forth in the Basic Lease Information on Page 1 of the
Lease.  Said Expense Stop Rent shall be
subject to adjustment on the first day of each January after the
Commencement Date (the “Rental Adjustment Date”) in the manner set forth below.

 

(b)                                  Rental
Adjustment; Operating Cost Increases. 
In addition to the payment of Net Rent and Expense Stop Rent, and all
other charges provided for in this Lease, Tenant shall pay its Pro Rata Share
of any increase in the total annual Operating Costs of the Building as
hereinafter defined:

 

Definitions

 

(i)                                     Expense
Stop:  The Expense Stop, for purpose of
this Paragraph 27 is $7.00  per square
foot of rentable area of the Premises. 
The Expense Stop is based upon Landlord’s reasonable best estimates of
the Operating Costs for a fully assessed and ninety-five percent (95%) occupied
building.

 

(ii)                                  Comparison
Year:  Each calendar year during the term
of this Lease.

 

(iii)                               Operating
Costs:  All expenses incurred by Landlord
as reasonably determined by Landlord to be necessary or appropriate for the
operation, maintenance, and repair of the Building, the personal property used
in conjunction therewith, the land upon which the Building is situated, and the
parking facility situated on the land. 
Operating Costs shall include, but are not limited to, all expenses
incurred by Landlord for heating, cooling, electricity, water, gas, sewers,
refuse collection, telephone services not chargeable to tenants, and similar
utility services not chargeable to Tenants; the cost of supplies, janitorial
and cleaning, security services, landscaping maintenance and replacements,
window washing, insurance, management fees not in excess of such fees charged
in comparable Class A suburban office buildings located in the metropolitan
Atlanta, Georgia area, services of independent contractors performing duties
necessary to the operation of the Building, personal property taxes relating to
improvements, fixtures, furniture or equipment, or other items owned by
Landlord and used in connection with the Building, and real property taxes, the
Building’s prorata share of assessments made by the Preston Ridge Associates, Inc.
(or any other organization

 

15

 

designated
with similar authority),  the costs,
including interest, amortized over its useful life of any capital improvement
made to the Building by or on behalf of Landlord after the date of this Lease
which is required by a Law that was not applicable to the Building as of the
date of this Lease, and of the acquisition and installation of any device or
equipment designed to improve the operating efficiency of any system within the
Building or which is required to improve the safety of the Building, ,  the cost of compensation (including
employment taxes and fringe benefits) of all persons who perform duties in connection
with the Building, including the Building Manager (which costs shall be
prorated to the extent that any such employee shares time on the Building or
any other properties), and any other expense or charge which, when determined
in accordance with accepted principles of sound management and accounting
practices applicable to first-class office building complexes and consistently
applied, would be considered an expense of maintaining, operating, or repairing
the Building and the land upon which it is situated.

 

Operating Costs shall not include the following items:

 

Advertising
and promotional expenditures, leasing commissions, finders’ fees, brokerage
fees and similar fees, and costs incurred with the negotiation or enforcement
of leases (but not management fees); rent under any ground leases; costs of
furnishing services to other tenants or occupants to the extent that such
services are materially in excess of services Landlord offers to all tenants at
Landlord’s expense; lease takeover costs incurred by Landlord in connection
with new leases at the Property; costs and expenses of the sale of all or any
portion of the Property; amounts actually received by Landlord through the
proceeds of insurance to the extent the proceeds are compensation for expenses
which were previously included in operating expenses; costs incurred by
Landlord with respect to repairs, goods, and services (including utilities sold
and supplied to tenants and occupants of the Property) to the extent that
Landlord is reimbursed for such costs or provides the same selectively to one
or more tenants; costs incurred by Landlord due to the violation by Landlord of
the terms and conditions of any lease of space in the Property any loan
document, ground leases or Laws in effect as of the date of this Lease;
interest, points and fees on debt or amortization or for any mortgage or
mortgages encumbering the Property, or any part thereof, and all principal,
escrow deposits and other sums paid on or in respect to any indebtedness
(whether or not secured by a mortgage lien) and on any equity participations of
any lender or lessor, and all costs incurred in connection with any financing,
refinancing or syndication of the Property, or any part thereof; depreciation
and, except as otherwise expressly provided for above, amortization; the costs
of the original construction of the Property and the improvements or any
addition or expansion thereof (as opposed to regular maintenance and repair of
the Property and the improvements); income, franchise, transfer, inheritance,
capital stock, estate, profit, gift, gross receipts or succession taxes;
salaries, fringe benefits and other compensation for personnel not directly
involved in the operation or management of the Building; costs and expenses of
the sale of all or a portion of the Property; costs of performing tenant
installations (including permit, license and inspection fees) for any
individual tenant or for performing work or furnishing services to or for
individual tenants at such tenant’s expense and any other contribution by
Landlord to the cost of tenant improvements and any costs or expenses incurred
in the procurement of tenants for the Building; rentals and other related
expenses incurred in leasing air-conditioning systems, elevators or other equipment
ordinarily considered to be of a capital nature except for customary office
equipment; costs incurred by Landlord in discharging its obligations under the
Lease which are to be discharged at Landlord’s sole cost and expense; except as
expressly provided for above, structural repairs and replacements or repairs
and replacements of a capital nature; any costs, fines, or penalties incurred
because Landlord violated any Law in effect prior to the date of this Lease (as
opposed to the cost of complying with any Law which becomes effective from and
after the date of this Lease); costs incurred to test, survey, clean up,
contain, abate, remove, or otherwise remedy hazardous wastes or
asbestos-containing materials from the Property unless the wastes or asbestos-containing
materials were in or on the Property because of Tenant’s negligence or
intentional acts or unless such tests or other remedies are required by
Landlord’s mortgagee; costs incurred in operation of any private club, now or
in the future, located within the office park and expenses incurred by the
Landlord, if any, in connection with operation, cleaning, repair, safety,
management security, maintenance or other services of any kind provided in any
portions of the Buildings which are leased or designed to be used for retail,
garage or storage purposes [except if and to the extent the tenant of such
retail, garage or storage space pays its pro rata share of Operating Costs (or
like reimbursement method)]; costs incurred for repairs or maintenance that are
actually reimbursed by warranties or guarantees or the exercise of eminent
domain (but only to the extent Landlord is compensated for any takings by the
exercise of eminent domain); and unrecovered expenses resulting directly from
the negligence of the Landlord.  All  special assessments by the local governing
authority, which may be paid by Landlord in installments, shall be paid by
Landlord in the maximum number of installments permitted by law and charged as
operating expenses only in the year in which the assessment installment is
actually paid.

 

(iv)                              Actual
Costs:  The actual amount paid or
incurred by Landlord for Operating Costs during any Comparison Year.

 

(v)                                 Estimated
Costs:  Landlord’s reasonable estimate of
Actual Costs for each Comparison Year which shall be prepared in good faith by
Landlord.

 

(b)                                  Gross
Up:   In the event that the Building
is not at least 95% occupied during any period of the Comparison Year, Landlord
shall make reasonable adjustments necessary to project what the Actual Costs
would have been had the Building been 95% occupied during the full term of the
year and those projected Operating Costs shall be deemed to be the Actual Costs
for purposes of this Paragraph; provided that such “gross up” shall be
performed in accordance with accepted principles of sound management and
accounting principles applicable to comparable “Class A” suburban office
buildings and consistently applied.

 

(c)                                  Payment
of Tenant’s Pro Rata Share of Estimated Costs:  At least thirty (30) days prior to the
commencement of each Comparison Year during the term hereof, Landlord shall
furnish Tenant with a written statement, prepared in good faith, setting forth
the

 

16

 

Estimated Costs for such
Comparison Year, and a statement showing the amount by which Tenant’s Pro Rata
Share of the Estimated Costs exceeds the Expense Stop.  Tenant shall pay one twelfth (1/12) of its
Pro Rata Share of such excess monthly.

 

(d)                                  Payment
of Tenant’s Pro Rata Share of Actual Costs: 
Within ninety (90) days after the close of each Comparison Year,
Landlord shall deliver to Tenant a written statement setting forth the Actual
Costs during that Comparison Year, together with appropriate documentation, if
so requested by Tenant.  If such Actual
Costs exceed the Estimated Costs paid by Tenant to Landlord for such Comparison
Year, Tenant shall pay to Landlord its Pro Rata Share of such excess within
forty-five (45) days after receipt of such statement.  If the statement shows such Actual Costs to
be less than the Estimated Costs, then Landlord shall credit the difference
against Rent due for the calendar months next following receipt of Landlord’s
written statement, or at Landlord’s option, refund the difference to Tenant if
the term has expired.

 

(e)                                  Cap
on Controllable Operating Costs. 
Notwithstanding anything to the contrary set forth herein, Landlord does
hereby agree that, solely for purposes of determining Tenant’s Pro Rata Share
of Operating Costs, the portion of Operating Costs attributable to all items
other than taxes, insurance (as a result in increases in premiums or as a
result of increases or changes in the coverages required by Landlord’s
mortgagee), utilities and security costs (such portion being referred to herein
as the “Controllable Expenses”) shall not exceed in any calendar year the
Controllable Expenses in the year 2004 increased by 5% per annum on a
cumulative, compounded basis. For example, if the Controllable Expenses for
year 2004 (annualized) are $7.00 per rentable square foot, the Controllable
Expenses for year 2005 shall not exceed $7.35 per rentable square foot, the
Controllable Expenses for year 2006 shall not exceed $7.72 per rentable square
foot, etc.

 

(f)  So long as no Event of Default
exists, Tenant shall be entitled to review such supporting documentation of the
Operating Costs as Tenant shall reasonably request.  Tenant may, at Tenant’s
sole cost and expense, audit Landlord’s books and records pertaining to its
Operating Costs in order to verify the accuracy of such expenses; provided,
however, that:

 

(i)                                     Tenant
notifies Landlord in writing, within ninety (90) days after receipt of Landlord’s
annual statement of Operating Costs, of its intent to audit such Operating
Costs and completes the audit and provides Landlord with the audit results
within 180 days of such notification; and

 

(ii)                                  Such
audit shall be conducted only during regular business hours at the office where
Landlord maintains the Operating Cost records and only after Tenant gives
Landlord at least thirty (30) days prior written notice; and

 

(iii)                               Such
audit shall be conducted by a certified public accountant employed by an
independent and reputable certified public accounting firm or consulting firm,
but in no event shall the certified public accounting firm or consulting firm
be employed by Tenant on a contingency fee basis; and

 

(iv)                                Tenant
shall reimburse Landlord for the cost of reproducing any records requested by
Tenant or its auditors; and

 

(v)                                   If
the amount of Operating Costs for the Building set forth in Landlord’s annual
statement exceeds by more than seven percent (7%) the amount of Operating Costs
for the Building as determined by such audit, then the reasonable cost of such
audit shall be borne by Landlord, and Landlord shall reimburse Tenant for such
cost; and

 

(vi)                                No
such audit shall be conducted if any other tenant has conducted an audit for
the time period Tenant intends to audit, and Landlord, at its sole option,
furnishes to Tenant a copy of the results of such audit, which shall be the
basis on which any reimbursements are made by Landlord; and

 

(vii)
 In the event that Tenant shall request an audit of any such Operating
Costs, then pending resolution of such audit, Tenant shall nevertheless
continue to make payments as required by Landlord.

 

28.                               CERTAIN RIGHTS RESERVED TO THE LANDLORD

 

The
Landlord may enter upon the Premises and/or may exercise any or all of the
following rights hereby reserved without being deemed guilty of an eviction or
disturbance of the Tenant’s use or possession and without being liable in any
manner to the Tenant and without abatement of Rent or affecting any of the
Tenant’s obligations hereunder:

 

(a)                                  To change the
name or street address of the Building;

 

(b)                                  To install and
maintain a sign or signs on the exterior of the Building provided that Tenant
shall be entitled to the signage provided in Section 46;

 

(c)                                  To designate all
sources furnishing sign painting and lettering, towels, carpet cleaning
service, lamps and bulbs used on the Premises;

 

(d)                                  To retain at all
times pass keys to the Premises;

 

(e)                                  So long as the
same is consistent with comparable Class A suburban office buildings located in
the metropolitan Atlanta, Georgia area, to grant to anyone the exclusive right
to conduct any particular business or undertaking in the Building provided that
Landlord shall not grant an exclusive pursuant to this Section 28(e) which
materially interferes with Tenant’s business operations within the Premises;

 

17

 

(f)                                    To close the
Building after regular working hours and on the legal holidays subject,
however, to Tenant’s right of admittance, under such reasonable regulations as
Landlord may prescribe from time to time, which may include, by way of example
but not of limitation, that persons entering or leaving the Building identify
themselves to a watchman by registration or otherwise and that said persons
establish their right to enter or leave the Building; and

 

(g)                                 Subject to the
other express terms of this Lease, to take any and all measures, including
inspections, repairs, alterations, decorations, additions, and improvements to
the Premises or the Building, and identification and admittance procedures for
access to the Building as may be necessary or desirable for the safety,
protection, preservation or security of the Premises or the Building or the
Landlord’s interests, or as Landlord may deem necessary or desirable in the
operation of the Building provided that Landlord shall take commercially
reasonable efforts to minimize any material interference with Tenant’s use and
occupancy of the Premises.

 

29.                               ABANDONMENT 
Intentionally omitted.

 

30.                               SUCCESSORS AND ASSIGNS

 

Subject
to the provisions of Paragraph 9 hereof, the terms, covenants, and conditions
contained herein shall be binding upon and inure to the benefit of the heirs,
successors, executors, administrators, and assigns of the parties hereto.

 

31.                               ATTORNEY’S
FEES

 

In the
event that any action or proceeding is brought to enforce any term, covenant,
or condition of this Lease on the part of Landlord or Tenant, the prevailing
party in such litigation shall be entitled to reasonable attorney’s fees to be
fixed by the court in such action or proceeding.

 

32.                               SECURITY
DEPOSIT [INTENTIONALLY OMITTED]

 

33.                               FINANCIAL STATEMENTS

 

Within
ten (10) days following Landlord’s request therefor, Tenant shall provide to
Landlord copies of (a) the most recent fiscal year financial statements for
Tenant and the Guarantor of this Lease, as audited by a certified public accountant,
and (b) the most recent fiscal quarter financial statements for Tenant and the
Guarantors of this Lease, as certified, respectively, by Tenant and the
Guarantor.  The financial statements
shall include, but not necessarily be limited to, a balance sheet, statements
of income and retained earnings, and a statement of source and uses of
funds.  All such statements shall be
prepared in accordance with the generally accepted accounting principles.

 

34.                               AUTHORITY

 

If
Tenant or Landlord signs as a corporation or partnership, Tenant and Landlord
do hereby covenant and warrant that  they
are a duly authorized and existing corporation or partnership, as the case may
be, that Tenant and Landlord have and are qualified to do business in Georgia,
that the corporation or partnership has full right and authority to enter into
this Lease, and that each and all of the persons signing on behalf of the
corporation or partnership are authorized to do so.

 

35.                               MORTGAGEE AND GROUND LESSOR APPROVALS

 

The
approval or consent of Landlord shall not be deemed to have been unreasonably
withheld for purposes of any provisions of this Lease requiring such consent if
any mortgagee (which shall include the holder of any deed of trust) of the
Premises, Building, or Property or any portion thereof, shall refuse or
withhold its approval or consent thereto. 
Any requirement of Landlord pursuant to this Lease which is imposed
pursuant to the direction of any such mortgagee shall be deemed to have been
reasonably imposed by Landlord if made in good faith.  Notwithstanding anything in this Paragraph 35
to the contrary, any requirement of Landlord pursuant to this Lease which is
imposed pursuant to the direction of any such mortgagee shall be made in good
faith by Landlord.

 

36.                               MISCELLANEOUS

 

(a)                                  (i) The term “Premises”
wherever it appears herein includes and shall be deemed or taken to include
(except where such meaning would clearly be repugnant to the context) the
office space demised and improvements now or at any time hereinafter comprising
or built in the space hereby demised. 
(ii) The paragraph headings herein are for convenience of reference and
shall in no way define, increase, limit, or describe the scope or intent of any
provision of this Lease.  (iii) The term “Landlord”
in these presents shall include the Landlord, its successors and assigns.  (iv) In any case where the Lease is signed by
more than one person, the obligations hereunder shall be joint and several.  (v) The term “Tenant” or any pronoun used in
place thereof shall indicate and include the masculine or feminine, the
singular or plural number, individuals, firms or corporations, and their and
each of their respective successors, executors, administrators, and permitted
assigns, according to the context hereof. 
(vi) The term “Lease” wherever it appears herein shall be deemed or
taken to include the Basic Lease Information and all paragraphs and exhibits
attached hereto and made a part hereof. 
(vii) Anywhere where Landlord’s or Tenant’s consent or approval is
required herein, unless expressly provided in this Lease to the contrary, such
consent or approval will not be unreasonably withheld, conditioned, or delayed.

 

(b)                                  Time is of the
essence of this Lease and all of its provisions.  Periods of time expressed in days for performance,
unless otherwise specified, shall mean calendar days.

 

(c)                                  This Lease shall
in all respects be governed by the laws of the State of Georgia.

 

(d)                                  This Lease,
together with its exhibits, contains all the agreements of the parties hereto
and supersedes any previous negotiations. 
There have been no representations made by the Landlord or
understandings made between the parties other than those set forth in this
Lease and its exhibits.  This Lease may
not be modified except by a written instrument by the parties hereto.

 

18

 

(e)                                  All obligations
of Tenant hereunder not fully performed as of the expiration or earlier
termination of the term of this Lease shall survive the expiration or earlier
termination of the term hereof.

 

(f)                                    If any clause,
phrase, provision, or portion of this Lease or the application thereof to any
person or circumstance shall be invalid or unenforceable under applicable law,
such event shall not affect, impair, or render invalid or unenforceable the
remainder of this Lease or any other clause, phrase, provision or portion
hereof, nor shall it affect the application of any other clause, phrase,
provision, or portion hereof to other persons or circumstances, and it is also
the intention of the parties to this Lease that in lieu of each such clause,
phrase, provision, or portion of this Lease that is invalid or unenforceable,
there be added as a part of this Lease contract a clause, phrase, provision or
portion as similar in terms to such invalid or unenforceable clause, phrase,
provision, or portion as may be possible and be valid and enforceable.

 

(g)                                 In the event of a
strike, lockout, labor trouble, civil commotion, an act of God, or any other
event beyond either party’s control (a “force majeure event”) which results in
the Tenant being unable to timely perform its obligations hereunder (other than
the Tenant’s obligation to pay Rent), so long as such party diligently proceeds
to perform such obligations after the end of the force majeure event, the
delayed party shall not be in breach hereunder. 
Nothing herein shall extend the time for Tenant to make payment of Rent
due hereunder.

 

(h)                                 Notwithstanding
any other provision of this Lease to the contrary, if the Commencement Date
hereof shall not have occurred before the twentieth (20th)
anniversary of the date hereof, this Lease shall be null and void and neither
party shall have any liability or obligation to the other hereunder.  The purpose and intent of this provision is
to avoid the application of the rule against perpetuities to this Lease.

 

(i)                                    Anything
contained in the foregoing provisions of this section to the contrary
notwithstanding, neither Tenant nor any other person having an interest in the
possession, use, occupancy, or utilization of the Premises shall enter into any
lease, sublease, license, concession, or other agreement for use, occupancy, or
utilization of space in the Premises which provides for rental or other payment
for such use, occupancy, or utilization based, in whole or in part, on the net
income or profits derived by any person from the Premises leased, used,
occupied or utilized (other than an amount based on a fixed percentage or
percentages of receipts of sales), and any such proposed lease, sublease, license,
concession, or other agreement shall be absolutely void and ineffective as a
conveyance of any right of interest in the possession, use, occupancy, or
utilization of any part of the Premises.

 

(j)                                    Neither this Lease nor any memorandum or short
form hereof shall be recorded in any public records.

 

37.                               LANDLORD’S
LIEN

 

The
Landlord hereby waives any statutory lien for Rent or other charges due under
this Lease in Landlord’s favor or any other lien rights the Landlord may have,
upon all goods, wares, equipment, fixtures, furniture, inventory, accounts,
contract rights, chattel paper, and other personal property of Tenant situated
on the Premises.  Landlord shall
cooperate with Tenant and any mortgagee or lender of Tenant with respect to the
execution of commercially reasonable lien waivers that may be required by
Tenant, Tenant’s lender or Tenant’s mortgagee.

 

38.                               QUIET
ENJOYMENT

 

Landlord
represents and warrants that it has full right and authority to enter into this
Lease and that Tenant, so long as no Event of Default exists, shall peaceably
and quietly have, hold,  and enjoy the
Premises for the term hereof without hindrance or molestation from Landlord,
Landlord’s mortgagee, ground lessor or Landlord’s successors or assigns subject
to the terms and provisions of this Lease. 
Landlord shall not be liable for any interference or disturbance by
other tenants or third persons, nor shall Tenant be released from any of the
obligations of this Lease because of such interference or disturbance;
provided, however that Landlord shall use commercially reasonable efforts to
enforce Landlord’s rights against third parties within Landlord’s reasonable
control and against other tenants of the Building pursuant to the terms of the
leases for such tenants.

 

39.                               LANDLORD’S LIABILITY

 

Landlord’s
obligations and liability with respect to this Lease shall be limited solely to
(i) Landlord’s interest in the Building and any proceeds derived from the sale
of the Building, as such interest is constituted from time to time, and (ii)
any profits from rentals received by Landlord in connection with the Building,
accruing from and after the date of any final and unappealable judgment entered
against Landlord, excluding therefrom any amounts included in such rental for
operating costs and expenses for the Building, neither Landlord nor any partner
of Landlord, or any officer, director, shareholder, or partner of any partner
of Landlord, shall have any personal liability whatsoever with respect to this
Lease.  No owner of the Property, whether
or not named herein, shall have liability hereunder after it ceases to hold
title to the Property except for any liability that accrues prior to the
conveyance of the Property.

 

40.                               NO
ESTATE

 

This
contract shall create the relationship of Landlord and Tenant, and no estate
shall pass out of Landlord.  Tenant has
only a usufruct, not subject to levy and sale and not assignable by Tenant,
except as provided for herein and in compliance herewith.

 

41.                               SUBSTITUTION OF PREMISES

 

Intentionally
omitted.

 

42.                               LEASE EFFECTIVE DATE

 

Submission
of this instrument for examination or signature by Tenant does not constitute a
reservation of or option for lease, and it is not effective as a lease or
otherwise until execution by both Landlord and Tenant.

 

19

 

43.                               HAZARDOUS MATERIALS

 

Neither
Landlord nor Tenant shall cause or permit the escape, disposal, or release of
any biologically or chemically active or other hazardous substances or
materials in, on, or about the Property. 
Neither Landlord nor Tenant shall allow the storage or use of such
substances or materials in, on, or about the Property in any manner not
sanctioned by law or by the highest standards prevailing in the industry for
the storage and use of such substances or materials, nor allow to be brought
into the Property any such materials or substances except to use in the
ordinary course of such party’s business, and then only after written notice
has been given to Landlord of the identity of such substances or materials
excepting, however, ordinary office and cleaning supplies. Without limitation,
hazardous substances and materials shall include those described in the
Comprehensive Environmental Response, Compensation and Liability Act of 1980,
as amended, 42 U.S.C. Section 9601 et seq., the Resource Conservation and
Recovery Act, as amended, 42 U.S.C. Section 6901 et seq., any applicable
state or local laws and the regulations adopted under these acts.  If any lender or governmental agency shall
ever require testing to ascertain whether or not there has been any release of
hazardous materials in, on, or about the Property, then the reasonable costs
thereof shall be reimbursed by Tenant to Landlord upon demand as additional
charges if such requirement applies to Tenant’s use and occupancy of the
Premises to the extent that a reasonable concern exists regarding the presence
of hazardous materials or substances within the Premises.  Landlord shall indemnify and hold harmless
Tenant for any cost, loss, expense or liability incurred by Tenant as a result
of the release or presence of hazardous materials or substances at the Property
caused by Landlord.  In addition, each
party shall execute affidavits, representations, and the like from time to time
at the other party’s request concerning its actual knowledge and belief
regarding the presence of hazardous substances or materials introduced by such
party on the Premises, the Building or Property.  In all events, Tenant shall indemnify
Landlord in the manner elsewhere provided in this Lease from any release of
hazardous materials in, on, or about the Premises occurring while Tenant is in
possession, or elsewhere if caused by Tenant or persons acting under
Tenant.  The within covenants shall
survive the expiration or earlier termination of the lease term.

 

44.                               FIRST
MONTH’S RENT

 

Rent
for the thirteenth (13th) full calendar month following the
Commencement Date in the amount of Forty Four Thousand Five Hundred Twenty and
21/100ths Dollars ($44,520.21) shall be due and payable upon Lease execution by
Tenant.  Check(s) should be made payable
to GERMANIA PROPERTY INVESTORS XXXIV, L.P.

 

45.                               BROKERS

 

Tenant
represents and warrants to Landlord that, except for those broker(s) set forth
in the Basic Lease Information (collectively, the “Brokers”), Tenant has not
engaged or had any conversations or negotiations with any broker, finder or
other third party concerning the leasing of the Premises to Tenant who would be
entitled to any commission or fee based on the execution of this Lease. Tenant
hereby indemnifies Landlord against and from any claims for any brokerage
commissions (except those payable to the Brokers, all of which are payable by
Landlord pursuant to a separate agreement) and all costs, expenses and
liabilities in connection therewith, including, without limitation, reasonable
attorneys’ fees and expenses, for any breach of the foregoing.  Landlord represents and warrants to Tenant
that, except for the Brokers, Landlord has not engaged or had any conversations
or negotiations with any broker, finder or other third party concerning the
leasing of the Premises to Tenant who would be entitled to any commission or
fee based on the execution of this Lease. Subject to the terms of Section 47
below, Landlord hereby indemnifies Tenant against and from any claims for any
brokerage commissions arising in connection with this Lease and all costs,
expenses and liabilities in connection therewith, including, without
limitation, reasonable attorneys’ fees and expenses, for any breach of the
foregoing.  The foregoing
indemnifications shall survive the termination of this Lease for any reason.

 

46.                               SIGNAGE.  (a)                  Tenant shall
be entitled to:

 

(i)  Signage identification on the Building’s
standard lobby directory. Landlord shall furnish and install at Landlord’s
expense, the Building’s standard lobby directory, however, the costs for Tenant’s
graphics, including installation, shall be at Tenant’s sole cost and expense;

 

(ii)  Signage identification on the Building’s
standard entry door signage to the Premises. The costs for the Building
standard entry door signage and Tenant’s graphics, including installation,
shall be at Tenant’s sole cost and expense;

 

(iii)  Signage identification on the walls of
elevator lobby and entrance doors on any full floors leased by Tenant shall be
at Tenant’s sole  cost and expense;

 

(iv)  Non-exclusive signage identification on the
Building’s monument sign located at the entrance of the Property off of Preston
Ridge Road (“Monument”).  The location of Tenant’s name on the Building’s
monument sign shall be mutually agreed upon by Landlord and Tenant.
 Landlord shall furnish and install, at Landlord’s sole cost and expense,
the Building’s monument sign, however, the costs for Tenant’s graphics,
including installation, shall be at Tenant’s sole cost and expense;

 

(b)                                  Tenant’s
signage rights as provided hereinabove in this Section 46 shall be subject
to Tenant providing Landlord with detailed specifications for the design and
placement of any signage for the Landlord’s approval, which approval shall not
be unreasonably withheld or delayed.  Landlord may reasonably
 withhold approval of the submitted signage if the design or location of
such signage is inconsistent incompatible with the design of the Building’s
standard signage, or such signage would materially detract from the appearance
of the Building.  Landlord and Tenant hereby confirm that all exterior
signage is subject to the ordinances of Fulton County and Alpharetta, GA, as
well as restrictions imposed by Preston Ridge Associates, Inc.  Signage on
any floor occupied in its entirety by Tenant is not required to conform to the
Building’s standard design guidelines established by Landlord.

 

(c)                                  Upon
either: (i) an Event of Default, (ii) the assignment of the Lease or sublet of
the Premises to any entity other than a Permitted Affiliate or Permitted
Successor, or (iv) the occurrence of an event which causes Tenant (or any
Permitted Affiliate or Permitted Successor) to no longer occupy a full floor of
the Building,  Landlord shall have the
right, but not the obligation, to remove

 

20

 

Tenant’s signage
from the Monument, to repair all injury or damage resulting from such removal,
reasonable wear and tear excepted, and Tenant shall reimburse Landlord for all
actual cost incurred in connection therewith.

 

47.                               CONTINGENCY.

 

(a)                                  Landlord
acknowledges that Tenant and Kimberly-Clark Corporation (“KCC”) are currently
contemplating the closing (“Closing”) of the distribution by KCC to its
stockholders of all of the common stock of the Tenant pursuant to a
Distribution Agreement to be entered into by Tenant and KCC. In the event that
the Closing shall not have occurred on or before December 31, 2004, for whatever reason, or Tenant has otherwise determined
that the Closing will not occur by such date (the “Trigger Date”), the Tenant
shall have the one time right to terminate this Lease (the “Termination Option”)
effective on the date which is fifteen (15) days following Tenant’s written notice
(the “Termination Notice”) to Landlord exercising such Termination Option (“Termination
Effective Date”).  Upon delivery of the
Termination Notice, the Tenant shall deliver to the Landlord the Termination
Fee (as hereinafter defined) in good and collectible funds.  Following delivery of the Termination Notice,
the Lease shall terminate effective as of the Termination Effective Date and
Tenant shall be obligated to surrender the Premises unto Landlord on the Termination
Effective Date and thereafter neither party shall owe any further obligation
one to the other except for (i) payment of the Termination Fee, (ii) any other
obligations expressly set forth in this Section 47 and (iii) those
obligations under the Lease which are intended to survive the expiration or
earlier termination of the Lease.  The
Tenant and KCC have not, and do not hereby make any representation or warranty
that the Closing will occur and, except for as expressly set forth in this Section 47,
shall not suffer any liability herein as a result of the failure of the Closing
to occur on or before the Trigger Date. 
Further, notwithstanding anything herein to the contrary, the Tenant
shall have the right to extend the Trigger Date by up to four (4) additional
months (but in no event beyond April 31, 2005) by providing the Landlord
written notice of the same.

 

(b)                                 The
term “Termination Fee” shall be an amount equal to:  (i) $81,659.78 (i.e., the loss of rents
caused by Landlord’s early termination of Covansys Corporation, plus (ii) the
Allowance, less any portion of the Allowance not actually disbursed by
Landlord, plus (iii) $262,850 (i.e., $10.00 per rentable square foot of the
Premises) (the “Penalty”) (iii) any brokerage commission disbursed by Landlord
to the Brokers, not to exceed $75,000.00, plus (iv) any attorney’s fees
incurred by Landlord in connection with this Lease, not to exceed $20,000.00,
plus (v) any lender or servicer fees incurred by Landlord in connection with
this Lease, not to exceed $7,500.00, plus (vii) in the event the Tenant does
not terminate the Lease on or before November 1, 2004 a per diem charge of
$627.78 for every day following November 1, 2004 until the date the Tenant
terminates the Lease (the “Per Diem Fee”). 
In the event that Tenant has not exercised the Termination Option on or
prior to the Trigger Date and in the event Landlord and Tenant amend the Lease
in the future, Landlord and Tenant agree to remove this Section 47 from
the Lease.  This Termination Option and
this Special Stipulation 1 are personal to
Neenah Paper, Inc., a Delaware corporation, may not be exercised by any
party other than Neenah Paper, Inc., a
Delaware corporation and shall become null and void upon the occurrence
of an assignment of the Lease or a sublet of all or a part of the Premises.  Landlord, Tenant and KCC acknowledge and
agree that, while KCC has no right to exercise the Termination Option set forth
in this Section 47, KCC shall cause the payment of the Termination Fee by
or on behalf of Tenant in accordance with the terms of this Section 47.

 

(c)                                  In the event that, as of the Trigger Date,
the Work (as defined in Exhibit C attached hereto) has not been completed in
full in accordance with the Plans, Tenant shall have the option to either (a)
pay to Landlord the Termination Fee in full, or (b) complete the Work
pursuant to the terms of the Plans and pay to Landlord the Termination Fee
minus the Penalty on or before the Termination Effective Date; provided,
however, in the event that the cost of the Work remaining to be completed pursuant
to the terms of the Plans is less than the Penalty, the parties agree that
Tenant shall not complete the Work, but instead shall pay to Landlord the
Termination Fee, minus the Penalty, as well as the cost of the Work remaining
to be completed pursuant to the terms of the Plans (which payment shall be in
lieu of the Penalty).  In the event that
Tenant elects to complete the Work in lieu of paying the Penalty as set forth
in this Section 47(c), the Termination Effective Date shall be extended for a reasonable
time in order to allow for the completion of the Work. Landlord and Tenant
shall cooperate in determining a reasonable construction schedule for the
completion of the Work in accordance with the terms hereof.   In the event that, as of the Termination
Effective Date, the Work has been completed in full in accordance with the
terms of the Plans, then the Termination Fee to be paid by Tenant shall be
reduced by the amount of the Penalty.

 

(d)                                 In
the event that Tenant terminates the Lease in accordance with the terms of this
Termination Option, the Landlord shall retain all improvements to the Premises
performed by Tenant, and notwithstanding anything contained in Section 6
of the Lease to the contrary, Tenant shall have no right or obligation to remove
any alterations, additions or improvements made to the Premises following the
Delivery Date; provided, however, Tenant shall surrender the Premises to
Landlord on the Termination Effective Date in broom clean condition and
otherwise in the condition required by Section 24 of the Lease; provided,
however, that the Tenant shall have the right to remove its furniture,
equipment and other personal property.

 

21

 

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

 

 

	
  LANDLORD

  	
   

  	
  TENANT

  
	
   

  	
   

  	
   

  
	
  GERMANIA PROPERTY
  INVESTORS XXXIV, L.P.,

  	
   

  	
  NEENAH PAPER, INC.,

  
	
  a Georgia
  limited partnership

  	
   

  	
  a Delaware
  Corporation

  
	
   

  	
   

  	
   

  
	
  By:

  	
  Germania-Preston,
  LLC, a Georgia limited

  	
   

  	
   

  	
   

  
	
   

  	
  liability
  company

  	
   

  	
  By:

  	
  /s/ Sean T.
  Erwin

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael G.
  Werner

  	
   

  	
   

  	
  Name:

  	
  Sean T. Erwin

  
	
   

  	
   

  	
  Michael G.
  Werner, Vice President

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  CEO

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
   June 29, 2004

  	
   

  	
  Date:

  	
   June 29, 2004

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  WITNESS:

  	
   

  	
  WITNESS:

  
	
   

  	
   

  	
   

  
	
  By:

  	
  [witnessed]

  	
   

  	
  By:

  	
  [witnessed]

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  (Affix Corporate Seal)

  	
   

  	
   

  	
  (Affix Corporate Seal)

  
											

 

 

(Signatures
continue on the following page)

 

22

 

The
undersigned joins in the execution of this Lease solely for the purposes of acknowledging
and agreeing to such party’s obligations under Section 47 of this Lease:

 

 

	
  KIMBERLY-CLARK
  CORPORATION, a Delaware Corporation 

  
	
   

  
	
   

  
	
  By:

  	
  /s/ Rodney G. Olsen

  	
   

  
	
  Name:

  	
  Rodney G. Olsen

  	
   

  
	
  Title:

  	
  Vice President
  Finance

  	
   

  
					

 

(Rev. 2/91)

 

23

 

EXHIBIT “A”

 

RULES AND REGULATIONS

 

1.                                      Sidewalks, halls,
passages, exits, entrances, elevators and stairways shall not be obstructed by
tenants or used by them for any purpose other than for ingress to and egress
from their respective premises.  The
halls, passages, exits, entrances, elevators, escalators and stairways are not
intended for the use of the general public and Landlord shall in all cases
retain the right to control and prevent access thereto by all persons whose
presence, in the judgment of Landlord, shall be prejudicial to the safety,
character, reputation and interests of the Building and its tenants, provided
that nothing herein contained shall be construed to prevent such access to
persons with whom any tenant normally deals in the ordinary course of such
tenant’s business unless such persons are engaged in illegal activities.  No tenant, and no employees or invitees of
any tenant, shall go upon the roof of the Building, except as authorized by
Landlord.

 

2.                                      No sign, placard,
picture, name, advertisement or notice, visible from the exterior of the
premises shall be inscribed, painted, affixed, installed or otherwise displayed
by any tenant either on its premises or any part of the Building without the
prior written consent of Landlord, and Landlord shall have the right to remove
any such sign, placard, picture, name, advertisement, or notice installed
without the Landlord’s consent without notice to and at the expense of that
tenant.

 

If
Landlord shall have given such consent to any tenant at any time, whether
before or after the execution of the lease, such consent shall in no way
operate as a waiver or release of any of the provisions hereof or of such
lease, and shall be deemed to relate only to the particular sign, placard,
picture, name, advertisement or notice so consented to by Landlord and shall
not be construed as dispensing with the necessity of obtaining the specific
written consent of Landlord with respect to any other such sign, placard,
picture, name, advertisement or notice.

 

All
approved signs or lettering on doors and walls shall be printed, painted,
affixed or inscribed at the expense of the tenant by a person approved by
Landlord.

 

3.                                      The bulletin
board or directory of the Building will be provided exclusively for the display
of the name and location of tenants only and Landlord reserves the right to
exclude any other names therefrom. 
Tenant is hereby granted the right to have its name and location displayed
on the bulletin board or directory.

 

4.                                      No curtains,
draperies, blinds, shutters, shades, screens or other coverings, awning,
hangings or decorations shall be attached to, hung or placed in or used in
connection with, any window or door on the premises of any tenant without the
prior written consent of Landlord.  In
any event and with the prior written consent of Landlord, all such items shall
be installed in such a manner that they shall in no way be visible from the
exterior of the Building.  No articles
shall be placed or kept on the window sills so as to be visible from the
exterior of the Building.  No articles
shall be placed against glass partitions or doors which might appear unsightly
from outside the premises of any tenant.

 

5.                                      Landlord reserves
the right to exclude from the Building between the hours of 6 p.m. and 8 am
Monday through Friday and at all hours on Saturdays, Sundays, and holidays all
persons who are not tenants or their accompanied guests in the Building.  Each tenant shall be responsible for all
persons whom it allows to enter the Building and shall be liable to Landlord
for all acts of such persons.

 

Landlord
shall in no case be liable for damages for error with regard to the admission
to or exclusion from the Building of any person.

 

During
the continuance of any invasion, mob, riot, public excitement or other
circumstance rendering such action advisable in Landlord’s opinion, Landlord
reserves the right to prevent access to the Building by closing the doors, or
otherwise, for the safety of tenants and protection of the Building and
property in the Building.

 

6.                                      No tenant shall
employ any person or persons other than the janitor or Landlord for the purpose
of cleaning the Premises unless otherwise agreed to by Landlord in
writing.  Except with the written consent
of Landlord no person or persons other than those approved by Landlord shall be
permitted to enter the Building for the purpose of cleaning the same.  No tenant shall cause any unnecessary labor
by reason of such tenant’s carelessness or indifference in the preservation of
good order and cleanliness of the premises.

 

7.                                      No tenant shall
accept barbering or bootblacking services in its premises except from persons
authorized by Landlord.

 

8.                                      Each tenant shall
see that all doors of its premises are closed and securely locked and must
observe strict care and caution that all water faucets or water apparatus are
entirely shut off before the tenant or its employees leave such premises, and
that all utilities shall likewise be carefully shut off, so as to prevent waste
or damage.  On multiple-tenancy floors,
all tenants shall keep the door or doors to the Building corridors closed at
all times except for ingress and egress.

 

9.                                      As more
specifically provided in each tenant’s lease, each tenant shall not waste
electricity, water or air conditioning and agrees to cooperate fully with
Landlord to assure the most effective operation of the Building’s heating and
air conditioning, and shall

 

1

 

refrain
from attempting to adjust any controls. 
Each tenant shall keep window coverings in its premises closed when the
effect of sunlight or cold weather would impose unnecessary loads on the
Building’s heating or air conditioning systems.

 

10.                               No tenant shall alter
any lock or access device or install a new or additional lock or access device
to any bolt on any door of its premises without the prior written consent of
Landlord. If Landlord shall give its consent, the tenant shall in each case
furnish Landlord with a key for any such lock (unless the lock is for secure
areas, and then only to the extent required by Law).

 

11.                               No tenant shall make or
have made additional copies of any keys or access devices provided by
Landlord.  Each tenant, upon the
termination of the tenancy, shall deliver to Landlord  all keys or access devices for the Building,
offices, rooms and toilet rooms which shall have been furnished to the tenant
or which the tenant shall have made.  In
the event of the loss of any keys or access devices so furnished by Landlord,
tenant shall pay Landlord therefor.

 

12.                               The toilet rooms,
toilets, urinals, wash bowls, and other apparatus shall not be used for any
purpose other than that for which they were constructed and no foreign
substance of any kind whatsoever, including coffee grounds, shall be thrown
therein, and the expense of any breakage, stoppage or damages resulting from
violation of this rule shall be borne by the tenant who, or whose employees or
invitees, shall have caused it.

 

13.                               No tenant shall use or
keep on its premises or the Building any kerosene, gasoline or inflammable or
combustible fluid or material other than limited quantities necessary for the
operation or maintenance of office equipment. 
Such limited quantities shall be only stored in containers approved by
appropriate regulatory agencies.  No
tenant shall use any method of heating or air conditioning other than that
supplied by Landlord.

 

14.                               No tenant shall use,
keep or permit to be used or kept in its premises any foul or noxious gas or
substance or permit or suffer such premises to be occupied or used in a manner
offensive or objectionable to Landlord or other occupants of the Building by
reason of noise, odors and/or vibrations or interfere in any way with other
tenants or those having business therein, nor shall any birds or animals other
than seeing eye dogs and like animals be brought or kept in or about any
premises of the Building.

 

15.                               No cooking shall be done
or permitted by any tenant on its premises except for cooking in standardized
non-commercial microwave ovens (except that use by the tenant of Underwriter’s
Laboratory approved equipment for the preparation of coffee, tea, hot chocolate
and similar beverages for tenants and their employees shall be permitted,
provided that such equipment and use is in accordance with all applicable
federal, state, and city laws, codes, ordinances, rules and regulations) nor
shall its premises be used for lodging.

 

16.                               Except with the prior
written consent of Landlord, no tenant shall sell or permit the sale, at
retail, of newspapers, magazines, periodicals, theater tickets or any other
goods or merchandise in or on its premises, nor shall tenant carry on, or
permit or allow any employee or other person to carry on, the business of
stenography, typewriting, printing, photocopying or any similar business in or
from its premises for the service or accommodation of occupants of any other
portion of the Building, nor shall its premises be used for the storage of
merchandise or for manufacturing of any kind, or the business of a public
barber shop, beauty parlor, nor shall its premises be used for any improper,
immoral or objectionable purpose, or any business activity other than that
specifically provided for in that tenant’s lease.

 

17.                               If tenant requires
telegraphic, telephonic, burglar alarm or similar services, it shall first
obtain, and comply with, Landlord’s instructions for their installation.  No tenant shall operate any television,
radio, recorder or sound system in such a manner as to cause a nuisance to any
other tenant of the Building.

 

18.                               Landlord will direct
electricians as to where and how telephone, telegraph and electrical wires are
to be introduced or installed.  No boring
or cutting for wires will be allowed without the prior written consent of Landlord.  The location of burglar alarms, telephones,
call boxes and other office equipment affixed to the premises shall be subject
to the written approval of Landlord.

 

19.                               No tenant shall install
any radio or television antenna, loudspeaker or any other device on the
exterior walls or the roof of the Building. 
No tenant shall interfere with radio or television broadcasting or
reception from or in the Building or elsewhere.

 

20.                               No tenant shall lay
linoleum, tile, carpet or any other floor covering so that the same shall be
affixed to the floor of its premises in any manner except as approved in
writing by Landlord.  The expense of
repairing any damage resulting from a violation of this rule or the removal of
any floor covering shall be borne by the tenant by whom, or by whose
contractors, employees or invitees, the damage shall have been caused.

 

21.                               No furniture, freight,
equipment, materials, supplies, packages, merchandise, or other property will
be received in the Building or carried up or down the elevators except between
such hours and in such elevators as shall be designated by Landlord.

 

Landlord
shall have the right to prescribe the weight, size and position of all safes,
furniture, files, bookcases or other heavy equipment brought into the Building.  Safes or other heavy objects shall, if
considered necessary by Landlord, stand on wood strips of such thickness as
determined by Landlord to be necessary to distribute properly the weight
thereof.

 

Business
machines and mechanical equipment belonging to any tenant which cause noise or
vibration that may be transmitted to the structure of the Building or to any
space therein to such a degree as to be objectionable to Landlord or to any
tenants in the

 

2

 

Building
shall be placed and maintained by tenant, at tenant’s expense, on vibration
eliminators or other devices sufficient to eliminate noise or vibration.  The persons employed to move such equipment
in or out of the Building must be acceptable to Landlord.

 

22.                               No tenant shall place a
load upon any floor of its premises which exceeds the load per square foot
which such floor was designed to carry and which is allowed by law.  No tenant shall mark, or drive nails, screw
or drill into, the partitions, woodwork or plaster or in any way deface its
premises or any part thereof.

 

23.                               No tenant shall install,
maintain or operate upon its premises any vending machines without the written
consent of Landlord.

 

24.                               There shall not be used
in any space, or in the public areas of the Building, either by any tenant or
others, any hand trucks except those equipped with rubber tires and side guards
or other such material-handling equipment as Landlord may approve.  No other vehicles of any kind shall be
brought by any tenant into or kept in or about its premises.

 

25.                               Each tenant shall store
all its trash and garbage within the interior of its premises.  No material shall be placed in the trash
boxes or receptacles if such material is of such nature that it may not be disposed
of in the ordinary and customary manner of removing and disposing of trash and
garbage in the city without violation of any law or ordinance governing such
disposal.  All trash, garbage and refuse
disposal shall be made only through entryways and elevators provided for such
purposes and at such times as Landlord shall designate.

 

26.                               Canvassing, soliciting,
distribution of handbills or any other written materials, and peddling in the
Building are prohibited and each tenant shall cooperate to prevent the
same.  No tenant shall make room-to-room
solicitation of business from other tenants in the Building.

 

27.                               Landlord reserves the
right to exclude or expel from the Building any person who, in Landlord’s
judgment, is intoxicated or under the influence of liquor or drugs or who is in
violation of any of the Rules and Regulations of the Building.

 

28.                               Without the prior
written consent of Landlord, no tenant shall use the name of the Building in
connection with or in promoting or advertising the business of such tenant
except as that tenant’s address.

 

29.                               Each tenant shall comply
with all energy conservation, safety, fire protection and evacuation procedures
and regulations established by Landlord or any governmental agency.

 

30.                               Tenant assumes any and
all responsibility for protecting its premises from theft, robbery and
pilferage, which includes keeping doors locked and other means of entry to the
premises closed.

 

31.                               The requirements of each
tenant will be attended to only upon application at the office of the Building
by an authorized individual.  Employees
of Landlord shall not perform any work or do anything outside of their regular
duties unless under special instructions from Landlord, and no employees will
admit any person (tenant or otherwise) to any office without specific
instructions from Landlord.

 

32.                               All rules and
regulations applicable to the Premises shall be applied uniformly to all
similarly situated tenants within the Building.

 

33.                               Landlord reserves the
right to make such other reasonable rules and regulations as in its judgment
may from time to time be needed for safety and security, for care and
cleanliness of the Building and for the preservation of good order therein.
provided that such revised or new regulation shall not materially or adversely
increase Tenant’s obligations or decrease Tenant’s right under the Lease.  Each tenant agrees to abide by all such Rules
and Regulations hereinabove stated and any additional rules and regulations
which are adopted.

 

34.                               Intentionally omitted.

 

35.                               Each tenant shall either
provide and maintain hard surface protective mats under all desk chairs which
are equipped with casters to avoid excessive wear and tear to carpeting, or
utilize chairs with carpet casters.  If
any tenant fails to provide such mats, the cost of carpet repair or replacement
made necessary by such excessive wear and tear shall be charged to and paid for
by that tenant.

 

36.                               Each tenant will refer
all contractors, contractor’s representatives and installation technicians,
rendering any service to such tenant, to Landlord for Landlord’s supervision,
approval, and control before performance of any contractual service but only to
the extent Landlord’s consent is required with regard to such item of work or
service.  This provision shall apply to
all work performed in the Building, including installations of telephones,
telegraph equipment, electrical devices and attachments and installations of
any nature affecting floors, walls, woodwork, trim, windows, ceilings,
equipment or any other physical portion of the Building.

 

37.                               Each tenant shall give
prompt notice to Landlord of any accidents to or defects in plumbing,
electrical fixtures, or heating apparatus so that such accidents or defects may
be attended to promptly.

 

3

 

38.                               Each tenant shall be
responsible for the observance of all of the foregoing Rules and Regulations by
its employees, agents, clients, customers, invitees and guests.

 

39.                               These
Rules and Regulations are in addition to, and shall not be construed to in any
way modify, alter or amend, in whole or in part, the terms, covenants,
agreements and conditions of any lease of any premises in the Building.

 

40.                               Smoking
of tobacco products (including, but not limited to, cigarettes, cigars, pipes
or similar utensils) is expressly prohibited in the lobby, hallways, elevators,
building entrances, restrooms, stairwells and common areas in and around the
Building.  Tenant shall not permit any of
its employees, agents, servants, licensees, contractors or invitees to smoke in
those areas specified in the immediately preceding sentence.  Tenant further agrees either (i) to
prohibit smoking within the Premises, or (ii) if smoking is permitted by
Tenant within the Premises, to take, at Tenant’s sole expense, such steps
(which steps may include, but not be limited to, installing exhaust equipment
to supplement the Building’s heating, ventilation and air conditioning system)
as shall be required by Landlord to avoid any infiltration of smoke from the
Premises into the space of other tenants or the common areas in the
Building.  Tenant further agrees that if
Tenant shall have taken steps to reduce or eliminate infiltration of smoke into
the space of other tenants, and, notwithstanding these steps, smoke from the
Premises continues to be a nuisance to other tenants in the Building, then
Landlord shall have the right to prohibit smoking in the Premises
altogether.  Tenant acknowledges and
agrees that (a) Landlord has the right under this paragraph to restrict
and/or prohibit smoking in the Premises, (b) smoking in the Premises is
not an absolute or inherent right of Tenant and (c) Landlord’s
determination that smoking in the Premises must be abated shall be final.  To enable smokers to have an area outside of
the Building in which to smoke, the Landlord shall designate from time to time
specific areas where smoking is permitted, to the extent permitted by
applicable laws and regulations.  Smokers
are required to keep all designated smoking areas clean, attractive and free of
litter.  In order to comply with present
or future laws, regulations or guidelines of governmental entities relating to
workplace health and safety, Landlord retains the right to further alter, move
or eliminate such smoking areas from time to time and to establish regulations
relating thereto as Landlord reasonably deems necessary or appropriate.

 

4

 

EXHIBIT “B”

 

TYPICAL LEVEL FLOOR PLAN 

 

[TO BE INSERTED]

 

1

 

EXHIBIT “C”

 

OFFICE LEASE IMPROVEMENT AGREEMENT

 

This WORK LETTER
AGREEMENT (“Work Letter”) is attached to and made part of that certain Office
Lease (to which this Exhibit B is attached). 
The terms, definitions and other provisions of the Lease are hereby
incorporated into this Work Letter by reference.

 

In consideration of the
execution of the Lease and the mutual covenants and conditions hereinafter
contained, Landlord and Tenant agree as follows:

 

1.                                       On
or before the Delivery Date, Landlord, at Landlord’s sole cost and expense,
shall deliver the Premises to Tenant in a broom clean condition.  From and after the Delivery Date, Tenant and
Tenant’s agents may enter the Premises in order to perform the Work (as
hereinafter defined).  Tenant agrees that
any such entry into and occupation of the Premises shall be deemed to be under
all of the terms, covenants, conditions and provisions of the Lease, except as
to the covenant to pay Rent or any other charges due under the Lease, and
further agrees Landlord shall not be liable in any way for any injury, loss or
damage which may occur to any of Tenant’s work and installations made in the
Premises or to properties placed therein, except to the extent caused by
Landlord’s negligence.

 

2.                                       The
Work shall be constructed by Tenant utilizing materials and construction
methods at least equal in quality to “Building Standard” improvements described
in attached Exhibit C-1 and in accordance with the provisions hereof.  On the terms and conditions set forth in Section 11
below, Landlord will provide Tenant a construction allowance (the “Allowance”)
of up to $1,051,400.00 (i.e.,
$40.00 per rentable square foot in the Premises) for Tenant’s use in performing
the Work.  Any portion of the Allowance
not exhausted by the cost of the Work, but in no event more than $183,995.00 (i.e., $7.00 per rentable
square foot of the Premises), shall be available to Tenant for reimbursement of
the cost of any architectural and engineering for data cabling, project
management fees and the installation of furniture, fixtures and/or equipment,
as and when requested by Tenant provided Tenant delivers invoices documenting
the actual cost of the foregoing on or before the expiration of the fourth (4th)
month following the Commencement Date. 
Any unused portion of the Allowance remaining after such reimbursement
shall not be funded by Landlord, with Tenant releasing any and all rights
thereto.  Any costs and expenses for the
Work in excess of the Allowance shall be paid solely by Tenant.

 

The
term “costs” or “cost” of the Work as used herein shall include, but not be
limited to, the total cost of construction of the Work, including, without
limitation, architectural & design fees, engineer fees, construction
management fees, cost of labor, materials, contractor’s fees, costs incurred in
obtaining approvals from any governmental authority, permitting costs.

 

The
term “Building Standard” or “Building standard” as used herein shall mean the
standards, materials and specifications set forth by Landlord for construction
of occupied tenant spaces within the Building, including but not limited to
such items as partition standards and details, doors and door hardware, ceiling
grid and tile, HVAC equipment and materials, light fixtures, carpet and
flooring, sprinkler heads, sill finishes and signage.

 

3.                                       Landlord
has approved those architectural plans and specifications prepared by  Idea Span (the “Architect”) dated June 14,
2004 schematic design, partition plans and layout, design development drawings
and a complete set of construction drawings, all of which are based on the
Building standards and adequate in detail for the construction of all
improvement and finish items desired by Tenant (collectively, the “Work”). All
modifications to the approved architectural plans shall comply with all
governmental standards, regulations and requirements and shall be subject to
Landlord’s approval (which approval shall not be unreasonably withheld, except
with respect to items which impact Building systems or structure or which are
visible from the Building’s exterior or common areas, in which event Landlord’s
prior approval may be withheld in Landlord’s sole discretion) prior to the
commencement of the Work.  Landlord shall
use commercially reasonable efforts to respond to Tenant’s Plans within five
(5) business days.  Such architectural
plans and specifications as have been approved by Landlord, together with any
modifications thereto approved by Landlord, are herein referred to as the “Plans”.  In the event Landlord disapproves of any
revisions or modifications to the Plans, then Landlord and Tenant shall, in
good faith, mutually attempt to resolve any disputes in a diligent and timely
manner.  The Plans shall be filed with,
and all necessary permits for the Work shall be obtained from, the appropriate
governmental agencies, at Tenant’s expense, prior to commencement of the Work,
and Landlord shall be provided with copies of such permits. 
Upon completion of the Work, the Architect shall furnish to Landlord a
complete set of the final Plans in a reproducible form such as mylars or sepias
or disk, and shall execute and deliver to Landlord a written certification the
(“Architect’s Certificate”) that the Premises have been completed, except for
any punch list items set forth therein (the “Tenant Punchlist Items”), and that
the Premises have been constructed substantially in accordance with the
Plans.  The Tenant Punchlist Items shall
be diligently completed by Tenant to Landlord’s satisfaction within a
reasonable time following the delivery of the Architect’s Certificate, but in
no event longer than sixty (60) days

 

4                                          Tenant
utilizing Malone Construction Company, as its Designated Contractor, shall, at
Tenant’s sole cost and expense and using commercially reasonable diligence,
construct or install, or cause to be constructed and installed, in or upon the
Premises, the Work in accordance with the Plans.  The Work shall be completed by Tenant:  (i) in accordance with the Plans in a good
and workmanlike manner; (ii) in compliance with all applicable laws,
ordinances, orders, rules, regulations and covenants of any state, federal,
municipal and other agency or body, including, at Tenant’s sole cost and
expense, obtaining all necessary permits, authorizations and approvals, (iii)
without voiding any Building warranties (in the event any such warranties are
so voided, Tenant shall indemnify Landlord for all costs, expenses, losses and
liabilities incurred by Landlord as a result thereof); (iv) in such a manner so
as not to unreasonably interfere with the use of the Building by other tenants
thereof, with Tenant being required to schedule and

 

1

 

coordinate all
work by Tenant and Tenant’s contractors, sub-contractors, vendors and suppliers
through Landlord in order to minimize any noise, disturbance, nuisance or
interruption to the other tenants of the Building, with Landlord reserving the
right to require disruptive work to be performed after Normal Business Hours;
and (v) in accordance with Landlord’s construction rules and regulations for
the Building, set forth on Exhibit “C-2” attached hereto. Landlord approves
Tenant’s use of Stevens & Wilkinson & Stang & Newdow as its
designated MEP Engineer for any mechanical, electrical (excluding low voltage
items) and plumbing work associated with the Work. Landlord shall also have the
right to reasonably (i) approve the work schedule of Tenant and Tenant’s
contractors in the construction of the Work, (ii) approve Tenant’s move-in schedule for
occupancy of the Premises upon completion of the Work, and (iii) inspect the
Premises throughout construction of the Work. 
Tenant shall carry, or cause its contractor to carry, insurance coverage
in accordance with Exhibit “C-2” attached hereto. Upon Substantial Completion
(as hereinafter defined) of the Work, a representative of Tenant and a
representative of Landlord shall inspect the Premises and generate a list of “punch-list”
items, if any, which punch list items Tenant agrees to complete within a
reasonable time thereafter.  If Tenant
fails to complete the Work by the scheduled Commencement Date (as the same may
be extended pursuant to Section 3 of the Lease), all obligations under the
Lease attributable to the Premises, including, but not limited to, Tenant’s obligations
to pay Rent, shall nevertheless begin on the Commencement Date. The term “Substantial
Completion” (or any grammatical variation thereof) shall mean that the Work is
sufficiently complete so as to allow Tenant to occupy the Premises for the use
and purposes intended without unreasonable disturbance or interruption as
reasonably determined by Landlord.

 

5.                                       Landlord
or its agent may attend any preconstruction and/or construction meetings with
Tenant and the Architect or their representatives as Landlord shall deem
necessary to inform the various parties of the minimum requirements for design
and construction, to assure compliance with the terms of this Work Letter, to
coordinate construction of the Premises or for any other reason deemed
necessary by Landlord.

 

6.                                       Any
approval by Landlord of, or consent by Landlord to, any plans, specifications
or other items to be submitted to and/or reviewed by Landlord pursuant to this
Lease shall be deemed to be strictly limited to an acknowledgment of approval
or consent by Landlord thereto, and such approval or consent shall not
constitute the assumption by Landlord of any responsibility for the accuracy,
sufficiency or feasibility of any plans, specifications or other such items and
shall not imply any acknowledgment, representation or warranty by Landlord that
the design is safe, feasible, structurally sound or will comply with any legal
or governmental requirements, with Tenant being responsible for all of the
same.  The Work shall at all time remain
the property of the Landlord, subject to Landlord’s rights as set forth in
Paragraph 6 and Paragraph 12 of the Lease.

 

7.                                       The
consent by Landlord to the construction of the Work by Tenant shall not be
construed as any assumption by Landlord, either express or implied, of any
liability of any nature against Landlord, the Premises, the Building or the
Property for the payment of any labor performed or any materials furnished in
connection with the construction or installation of the Work.  In the event any such claim for payment or
any materialmen’s or mechanics’ liens are filed against Landlord, the Premises
(including Tenant’s leasehold interest therein), the Building or the Property,
then Tenant agrees to forthwith pay the same or cause such security therefore
to be deposited for the payment and discharge of the same as may be reasonably
required by Landlord.  Tenant further
agrees that, upon completion of the Work, Tenant shall provide Landlord written
lien releases from any and all contractors who have performed work in the
Premises.  Tenant does hereby indemnify,
agree to defend and save Landlord harmless from and against any and all claims,
liabilities, damages and expenses (including reasonable attorney’s fees)
suffered, paid or incurred by Landlord arising out of the construction and
installation of the Work, including, specifically, the cost of any labor
performed and materials furnished to Work.

 

8.                                       After
commencement of the Work by Tenant, any changes or upgrades to the Plans in
excess of $10,000 which impact the Building’s MEP systems, life safety system,
HVAC systems or structural integrity shall be mutually agreed upon in writing
by both Landlord and Tenant.  Upon
approval thereof by both parties, Tenant shall make those changes which are
mutually acceptable and submit the revised portions of the Plans to
Landlord.  In connection with any such
changes, Tenant may, upon request of Landlord, be required to deliver to
Landlord evidence of financing or financial capability of Tenant sufficient to
cover the excess cost, if any, resulting from such change order.  Any such changes shall be subject to Landlord’s
approval as set forth in Section 3 above. 
The additional cost of any such change orders shall be considered a cost
of the Work.

 

9.                                       Notwithstanding
anything provided in the Lease or herein to the contrary, in the event Tenant
elects (with Landlord’s approval) to use materials other than Building
Standard, Landlord shall have no obligation to provide services which are
materially different from those provided for Building Standard improvements
(including, without limitation, janitorial and cleaning services) for any
non-Building standard improvements installed, constructed or used in the
Premises.

 

10.                                 Upon
completion of the connection of Tenant’s HVAC system to the Building’s HVAC
systems, as part of the Work, Tenant shall be responsible for the cost to test
and balance such system by Landlord’s designated testing and balancing engineer
for the Building, which cost shall be deemed to be a part of the Work at costs
similar to those charged for comparable Class A suburban office buildings in
the metropolitan Atlanta, Georgia area.

 

11.                                 So
long as this Lease is in full force and effect and no Event of Default exists(a
“Failed Condition”), Landlord shall pay to Tenant in periodic installments, but
in no event more than one installment every thirty (30) days, the Allowance
toward the cost of the Work within fifteen (15) business days of the date at
such time as Tenant delivers to Landlord:

 

(i)                                     Tenant’s
invoice for payment;

(ii)                                  lien
releases from all contractors performing any portion of the work comprising the
Work which is the subject of the then current installment;

 

2

 

(iii)                               the
Architect’s Certificate, as limited to the Work which is the subject of the
then current installment;

(iv)                              invoices,
receipts and other evidence reasonably required by Landlord to evidence the
cost of the Work which is the subject of the then current installment;

(v)                                 evidence
that Tenant has procured and paid for all permits, licenses and authorizations
required by all applicable governmental authorities relating to the Work which
is the subject of the then current installment; and

 (vi)                           a certified written
statement from the Tenant certifying to Landlord that upon Tenant’s receipt of
the Allowance, all costs relating to the Plans and the Work which is the
subject of the then current installment shall have been paid in full.

 

Notwithstanding the foregoing to the contrary, ten
percent (10%) of the Allowance (which retainage shall be reduced to 5% upon 90%
completion of the Work) may be held back and not funded by Landlord in
accordance with the foregoing until such time as Tenant delivers to Landlord
(whether as part of the periodic installment process above or otherwise):

 

(i)                                     Tenant’s
final invoice for payment;

(ii)                                  lien
releases from all contractors performing any portion of the work comprising the
Work (Tenant may charge the general contractor with the responsibility of
collecting lien releases from its sub’s);

(iii)                               the
final Architect’s Certificate;

(iv)                              a
draw request from Tenant’s general contractor using the AIA or other customary
format to evidence the cost of the Work;

(v)                                 evidence
that Tenant has procured and paid for all permits, licenses and authorizations
required by all applicable governmental authorities relating to the Work;

(vi)                              a
certified written statement from the Tenant certifying to Landlord that upon
Tenant’s receipt of the Allowance, all costs relating to the Plans and the Work
shall have been paid in full.

 

In the event of a Failed Condition, all costs
associated with the Work, the Plans and this Work Letter shall be payable by
Tenant upon demand therefor until such Failed Condition is cured, together with
all applicable late charges and interest applicable to the nonpayment of Rent
hereunder.

 

In the event that Landlord fails to timely pay the
Allowance (or any installment thereof) in accordance with this paragraph 11 and
such failure continues for more than fifteen days following receipt of written
notice for Tenant of such failure, then the unpaid amount of the Allowance
shall be increased by a late charge to be paid by Landlord in an amount equal
to five percent (5%) of the delinquent amount of the Allowance.

 

12.                                 Tenant
shall have the right to revise any and all existing improvements located within
the Premises and elevator lobbies outside the Premises as of the Delivery Date
(excluding fixtures located in the bathrooms and mechanical rooms).  Landlord shall reimburse Tenant for all
reasonable costs incurred by Tenant in connection with removal of existing
wires located in the sleeve to the 6th floor of the Building.

 

13.                                 Landlord
shall cause the repair or removal (or reimburse Tenant for the cost of such
repair) of any items outside of the interior portion of the Premises required
to be repaired or removed by any building inspector or official due to the fact
that such items do not meet current building code requirements and are not
otherwise considered “grandfathered” into previous code requirements.  Nothing, however, in this Paragraph 13 shall
require Landlord to repair or remove (or reimburse Tenant for the cost thereof)
any non-compliant items which are (a) considered “non-compliant” due to the
nature of the Work or (b) an item which the Plans require to be removed or
repaired as a part of the Work, regardless of such non-compliance.

 

3

 

EXHIBIT “C-1”

 

BUILDING STANDARD FINISHES AND
MATERIALS

PRESTON RIDGE

 

	
  CARPET:

  	
   

  	
  Shaw Design
  Series IV (or equivalent), 30 oz. solid cut pile, 100% Solutia LXI Type 6.6
  Nylon fiber, installed direct glue.

  
	
   

  	
   

  	
   

  
	
  BASE:

  	
   

  	
  Roppe rubber
  cove base, 4” height, with wrapped corners.

  
	
   

  	
   

  	
   

  
	
  PAINT:

  	
   

  	
  Two coats of
  acrylic latex eggshell paint on walls, two coats of semi-gloss alkyd enamel
  on door frames.

  
	
   

  	
   

  	
   

  
	
  *PARTITIONS:

  	
   

  	
  Standard
  partitions are 25 ga. 3 5/8” studs on 24” centers with 1⁄2” sheetrock.

  
	
   

  	
   

  	
  Rated partitions
  are 25 ga. 3 5/8” studs on 24” centers run to deck with type X sheetrock.

  
	
   

  	
   

  	
   

  
	
  *DOORS:

  	
   

  	
  Entry doors:

  	
   

  	
  3’x8’10” flush
  wood doors, solid core 5 ply, quarter sliced mahogany with building standard
  mahogany stain.

  
	
   

  	
   

  	
  Interior doors:

  	
   

  	
  Same as entry
  doors.

  
	
   

  	
   

  	
  Frames:

  	
   

  	
  Hollow metal
  knock down frame with 2” casing.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  *HARDWARE:

  	
   

  	
  Entry doors:

  	
   

  	
  Locksets:
  Schlage L9453 lockset in 626 finish.

  
	
   

  	
   

  	
   

  	
   

  	
  Hinges: Hager
  ball bearing hinges.

  
	
   

  	
   

  	
   

  	
   

  	
  Closer: LCN
  heavy duty closer.

  
	
   

  	
   

  	
  Interior doors:

  	
   

  	
  Lock and passage
  sets: Schlage D10S and D53, in 626 finish.

  
	
   

  	
   

  	
   

  	
   

  	
  Hinges: Hager
  standard hinges, US 26D

  
	
   

  	
   

  	
   

  	
   

  	
  Wall stops: US
  26D

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  *CEILINGS:

  	
   

  	
  2x2 acoustical
  tile in 15/16” exposed white grid by Donne. Tile to be USG “Acoustone”
  Glacier 707 white, foil backed with Shadowline edge.

  
	
   

  	
   

  	
   

  
	
  *SPRINKLERS:

  	
   

  	
  Semi recessed
  pendent heads.

  
	
   

  	
   

  	
   

  
	
  *LIGHTS:

  	
   

  	
  2x4 two tube 12
  cell parabolic lens fluorescent fixtures by Thomas. Day Brite model #
  2P3GC232-26SL-277; sp 35 tubes.

  
	
   

  	
   

  	
   

  
	
  *EXIT LIGHTS:

  	
   

  	
  Cast aluminum
  housing, self contained emergency power pack for 90min. operation. Pure lead
  maintenance free battery. 277V, edge lit LED type.

  
	
   

  	
   

  	
   

  
	
  *HVAC:

  	
   

  	
  Perimeter slot
  diffusers served by PIU’s and interior 2x2 lay in perforated grille diffusers
  served by VAV’s.

  
	
   

  	
   

  	
   

  
	
  *BLINDS:

  	
   

  	
  1” horizontal
  mini blinds in building standard color.

  

 

 

Note:  items with an asterisk (*) indicate building
requirement, all other items are optional.

 

1

 

EXHIBIT “C-2”

 

RULES & REGULATIONS

 

The following states The
Work and the Rules and Regulations governing construction work and construction
practices at Childress Klein Properties owned or managed properties.

 

Before starting any
construction projects, please read the information contained in this article thoroughly,
sign and date the final page, and return it to Childress Klein Properties at
300 Galleria Parkway N.W., Suite 600; Atlanta, Georgia 30339; Attn: Tenant
Finish Construction Manager.

 

1.                                       DEFINITIONS:

 

A.           The
Work is defined as that service
for which the Contractor has been retained.

 

B.             The
Project is defined as the area or
suite in which the work is to be performed.

 

C.             The
Building is defined as the
structure in which the Project is located.

 

D.            The
Property is defined as the parcel
of land on which the Building is located.

 

E.              The
Building Operating Hours for
construction are:  Monday-Friday  (7:00 a.m.-                            6:00 p.m.);  Saturday (8:00 a.m.-1:00 p.m.).

 

2.                                       CONSTRUCTION:

 

A.           The
Contractor is required to make a pre-site survey reporting any existing damage
within the site and common areas leading to the site, and furnish a copy to the
Tenant Finish Construction Manager. 
Childress Klein Properties must be notified in writing in advance of any
work to be done before 7:00 a.m. or after 6:00 p.m. Monday through Friday or on
a weekend or holiday.  Notification will
be given utilizing a properly completed “Access Authorization” form submitted
to Childress Klein Properties for approval.

 

B.             THE
CONTRACTOR IS REQUIRED TO FURNISH CHILDRESS KLEIN PROPERTIES WITH AS-BUILT
DRAWINGS AND ACKNOWLEDGES THAT PAYMENT WILL NOT BE MADE UNTIL THEY ARE RECEIVED
BY CHILDRESS KLEIN PROPERTIES. The as-built drawings provided to Childress
Klein Properties shall indicate all revisions to the Building systems (HVAC,
electrical including panel directory, sprinkler, plumbing, fire, life safety,
etc.) as well as the As-Built Finish Schedule.

 

All Contractors
and sub-contractors must sign in with Building security at the Operations
Control Center located in the loading dock of Tower 200 at the Galleria or at
the security office next to loading dock of 999 Peachtree and provide proper
identification before they will be provided access to project for deliveries
and / or construction.  All Contractors
and sub-contractors must comply with Childress Klein Properties access
procedures.

 

C.             Childress
Klein Properties must be notified in writing at least forty-eight (48) hours
in advance of any work required to be done in the public space or common
areas of the Building.  This work may not
be done during Building Operating Hours without prior approval of Childress
Klein Properties.

 

D.            Childress
Klein Properties must be notified at least forty-eight (48) hours in advance
of any work which would require a Contractor to enter a tenant suite other than
the Project so that approval for such entry may be obtained from that
tenant.  Permission to enter a tenant
suite other than the Project will not be unreasonably withheld.  The Contractor shall be liable for any damage
to the tenant suite including any of its furnishings and fixtures resulting
from the work done.  Upon completion of
the work or before the beginning of the next business day the tenant suite
shall be restored to its prior condition.

 

E.              Childress
Klein Properties must be notified in writing at least forty-eight (48) hours
in advance of any work which would require the shutting down or affect the
operation of any Building system (HVAC, electrical, domestic water lines,
chilled water or condenser water lines, sprinkler, and life safety systems) so
that adequate notice may be given to the tenants. This work may not be done
during Building Operating Hours.

 

F.              Any
work which will generate noise levels or odors unacceptable to Childress Klein

Properties
or their tenants (including but not limited to coring of the concrete slabs,
hammer drilling, varnishing doors, chipping up VCT, and sprinkler drain-down)
may not be performed during Building Operating Hours (7:00 a.m. - 6:00

 

1

 

p.m.
Monday through Friday, and Saturday from 8 a.m. - 1:00 p.m.) without prior
written approval of Childress Klein Properties.

 

G.             All
Work shall be done in a professional and workmanlike manner with particular
attention paid to any work which might inconvenience another tenant.

 

3.                                       DELIVERIES:

 

A.           Deliveries
of material in a quantity no larger than one freight elevator cab trip can be made
during the Building’s Operating Hours (7:00 a.m. until 6:00 p.m. Monday through
Friday). Deliveries of materials in excess of one freight elevator cab trip
must be made during hours other than the Building’s Operating Hours, and must
be arranged in advance through Childress Klein Properties, and may involve
reimbursement of security costs of $25.00 per hour.

 

B.             The
Contractor is responsible for restoring the Property, Elevators and Building to
its prior condition immediately following all deliveries.

 

C.             Building
Standard Finishes (walls, flooring, and doors / frames) in all common areas
must be protected from damage.

 

D.            The
Contractor shall be held liable for any and all damage resulting from any
delivery. Any damage shall be reported immediately to Childress Klein
Properties and corrected in a timely manner acceptable to Childress Klein
Properties.  Childress Klein Properties
reserves the right to perform repairs and deduct expense from Contract sum.

 

E.              All
deliveries must be received at the Project. 
At no time shall any material be stored in any location other than the
Project without the prior approval of Childress Klein Properties.  No hazardous materials may be stored in the
Project at any time.

 

F.              Delivery
vehicles must utilize the Loading Dock provided at the Building and vacate the
space immediately upon completion of the delivery.  Drivers of vehicles should report to the
Building Dockmaster, or Security Operations.

 

G.             All
deliveries must utilize the service elevator. 
At no time will the passenger elevator be used for deliveries.

 

4.                                       ELEVATOR
USAGE:

 

A.           All
workmen must use the service elevator. 
At no time may workmen use a passenger elevator.

 

B.             The
Contractor shall be liable for all costs incurred resulting from any damage
done to the elevator (including the elevator cab finishes) due to the
Contractor’s, employees, any of his sub-contractors, or vendors by
over-loading, unbalanced loading or any other misuse of the elevator.  Damage must be reported immediately after it
occurs.

 

2

 

5.                                       DEBRIS/SURPLUS
MATERIAL REMOVAL:

 

A.           Debris
or surplus material will not be allowed to collect in the Project or in the
Building.  Debris will not be allowed to
be stockpiled on the floor.

 

B.             All
debris shall be removed from the Property the same day it is removed from the
Project unless it is placed in an on-Property trash receptacle.  Childress Klein Properties reserves the right
to approve type, location, size, and pick-up schedule of all trash
receptacles located on the property.  In
no event may trash or debris from the Project be placed in a Building
receptacle or another contractor’s trash receptacle without prior
approval.  Charges for improper dumping
will be deducted from Contract sum. 
Debris or any material should not be “staged” in a building hallway or
exit corridor.

 

C.             All
organic debris resulting from workmen’s breaks or lunch shall be placed in a
trash receptacle on the job site and removed daily.

 

6.                                       DEMOLITION:

 

A.           All
construction material, finish material, fixtures, etc. in the Project are the
property of Childress Klein Properties. 
At no time shall any construction material, finish material, fixtures,
etc. be removed from the Property without the prior approval of Childress Klein
Properties.  Contractor shall coordinate
with Tenant Finish Construction Manager and be responsible for the return of
all unused materials to Building storage.

 

B.             Tenant
spaces to be demolished will generally have temperature sensors and/or
thermostats installed.  These temperature
sensors or thermostats may control HVAC equipment servicing other suites.  When demolishing a tenant space, the
Contractor will be responsible for ensuring that the temperature sensor or
thermostat is not interrupted or otherwise adversely affected. When a
thermostat is located on a wall to be demolished, the cable should be coiled
and placed above the ceiling with sensor / thermostat intact. At no time shall
a temperature sensor or thermostat be removed without the prior approval of Childress
Klein Properties.  The Contractor will be
responsible for any damage to or loss of temperature sensors or thermostats.

 

7.                                       MECHANICAL/ELECTRICAL/TELEPHONE
ROOM ACCESS:

 

A.           Access
to the Mechanical/Electrical/Telephone rooms is granted on an as needed basis.  The Contractor requiring access to these
rooms must notify Childress Klein Properties twenty-four (24) hours in advance
in order to generate a security pass to access the room. Once access is
approved, a key will be made available to the person requesting access.  This key must be picked up in person at the
Galleria Security office (Tower 200 Basement, or at the engineer’s office in
Preston Ridge or Windward Fairways) on the day access is required.  To obtain a key you will be required to leave
a picture ID such as a driver’s license, or a key acquisition card.  All keys must be returned by 5:30 p.m.
on the same day they were checked out.

 

B.             Special
Exception for Southern Bell:  
Southern Bell employees will be allowed to check out a key to the Mechanical/Electrical/Telephone
rooms without leaving their driver’s license only upon production of
their Southern Bell identification and a valid Southern Bell work order
indicating work is to be done on the floor for which access is requested.

 

8.                                       GENERAL:

 

A.           Contractor
must provide Childress Klein Properties a forty-eight (48) hours notice prior
to mobilizing to perform floor coring. 
The work must occur outside of Building Operating hours before coring
all floors must be x-rayed unless pre-approved by Childress Klein Properties.

 

B.             Contractor
personnel must be appropriately clothed (shirts, pants and shoes) at all times
while on the Property or in the Building. 
Childress Klein Properties reserves the right to ask any worker it deems
improperly attired to leave the Property.

 

C.             Contractor
personnel may not eat or take breaks in the public areas (other than
restaurants or designated eating areas) of the Building.

 

D.            Contractor
personnel must park their personal vehicles in the following designated                 areas:

 

•                  Galleria 100 - Third (top) level of
the parking deck.

•                  Galleria 200 - Levels E, F, or G
(located below the loading dock level).

•                  Galleria 300 - Levels E, F, or G
(located below the loading dock level).

•                  Galleria 700 - Top deck level.

•                  999 First Union Plaza - Loading dock
level.

•                  Preston Ridge - Upper or side lot.

•                  Windward Fairways - Upper or side
lot.

 

3

 

E.              Contractor
personnel must enter the Building through the loading dock entry.

 

F.              Contractor
personnel shall not deface in any way the walls, ceilings, floors, fixtures, or
furnishings in the Project or Building or on the Property.

 

G.             The
Contractor shall be held liable for all damage done to the Property, Project or
the Building by any of his personnel or subcontractors.  Any damage shall be reported immediately to
Childress Klein Properties and corrected in a timely manner acceptable to
Childress Klein Properties.

 

H.            While
on the Property, all workmen shall conduct themselves in a professional manner.

 

I.                 Workmen
shall use restrooms and drinking fountains only on the floor on which the
Project is located unless another area is specified by Childress Klein
Properties.

 

J.                All
requests of and notifications to Childress Klein Properties shall be made by
contacting Childress Klein Properties Tenant Finish Construction Manager at
(770) 859-1200, Fax # (770) 859-1253.

 

K.            The
Contractor recognizes that the Galleria complex is a non-smoking facility.  Contractor personnel will only be allowed to
smoke in the buildings designated smoking areas.

 

L.              Contractor is
responsible for security of Project and any stored tools and materials
therein.  Childress Klein Properties will
not be held responsible for any theft or vandalism that may occur.

 

M.         No
radios or musical devices of any type shall be allowed on the Project.

 

N.            Contractor
shall take precautions to avoid setting off the fire alarm system (i.e. sweeping,
smoking, soldering, welding, in close vicinity of a smoke detector).

 

O.            Contractors
are not to prop open any doors to secured areas or building stairwells or service
elevator lobbies.

 

9.                                       PENALTIES:

 

A.           Any
Contractor, sub-contractor or workman violating any of the above Rules and
Regulations will be, at the discretion of Childress Klein Properties, removed
from the Project and permanently barred from the Property.

 

4

 

EXHIBIT “D”

 

TENANT LEASE ESTOPPEL CERTIFICATE

 

	
  Landlord:

  	
   

  	
  GERMANIA
  PROPERTY INVESTORS XXXIV, L.P., a Georgia limited partnership

  
	
   

  	
   

  	
   

  
	
  Tenant:

  	
   

  	
                                                       ,     

  
	
   

  	
   

  	
   

  
	
  Premises:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Area:

  	
   

  	
  Sq. Ft.

  	
   

  	
  Lease Date:

  	
   

  	
   

  

 

The
undersigned Tenant under the above-referenced lease (the “Lease”) hereby
ratifies the Lease and certifies to                                     (“Landlord”) as owner of the real property of
which the premises demised under the Lease (the “Premises”) is a part, as
follows:

 

1.                                       That
the term of the Lease commenced on                           ,
20         and the Tenant is in full
and complete possession of the Premises demised under the Lease and has
commenced full occupancy and use of the Premises, such possession having been
delivered by Landlord and having been accepted by the Tenant.

 

2.                                       That
the Lease calls for monthly Rent installments as outlined in Paragraph 4 of the
Lease dated                        , and
Tenant has made all monthly installments of Rent required to date.  The current monthly Net Rent is $              and the current monthly Expense
Stop Rent is $                .

 

3.                                       That
no advance rental or other payment has been made in connection with the Lease,
except rental for the current month. 
There is no “free rent” or other concession under the remaining term of
the Lease (except for the abated Rent during the first twelve (12) months of
the Term), and the Rent has been paid to and including                             ,
20        .

 

4.                                       That
a security deposit in the amount of $              
is being held by Landlord, which amount is not subject to any set off reduction
or to any increase for interest or other credit due to Tenant.

 

5.                                       That,
to the Tenant’s actual knowledge, all obligations and conditions under said
Lease to be performed to date by Landlord or Tenant have been satisfied, free
of defenses and set-offs including all construction work in the Premises.

 

6.                                       That
to the Tenant’s actual knowledge the Lease is a valid lease and in full force
and effect and represents the entire agreement between the parties; that there
is no existing default on the part of Landlord or the Tenant in any of the
terms and conditions thereof and no event has occurred which, with the passing
of time or giving of notice to both, would constitute an Event of Default, and
that said Lease has:  (Initial One)

 

(    )                            not
been amended, modified, supplemented, extended, renewed or assigned.

 

(    )                            been amended, modified,
supplemented, extended, renewed or assigned as follows by the following
described agreements:

 

 

 

7.                                       That
the Lease provides for a primary term of                   
months; the term of the Lease expires on the           
day of                        ,
20          ; and that:  (Initial One)

 

(    )                            neither the Lease nor any
of the documents listed in Paragraph 6 (if any), contain an option for any
additional term or terms.

 

(    )                            the Lease and/or the
documents listed under Paragraph 6, above, contain an option for                   
additional term(s) of               
year(s) and                   
month(s) (each) at a  rent to be
determined as follows:

 

 

 

8.                                       That,
to the Tenant’s actual knowledge, Landlord has not rebated, reduced or waived
any amounts due from Tenant under the Lease, whether orally or in writing, nor
has Landlord provided financing for, made loans or advances to, or invested in
the business of Tenant.

 

1

 

9.                                       That,
to the Tenant’s actual knowledge, there is no apparent or likely contamination
of the real property or the Premises by hazardous materials, and Tenant does
not use, nor has Tenant disposed of, hazardous materials in violation of  environmental laws on the real property or
the Premises.

 

10.                                 That,
to the Tenant’s actual knowledge, there are no actions, voluntary or
involuntary, pending against the Tenant under the bankruptcy laws of the United
States or any state thereof.

 

11.                                 That
this certification is made knowing that the Landlord is relying upon the
representation herein made.

 

12.                                 The
undersigned further acknowledges that:

 

(a)                                 Buyer
or Buyer’s assignee is purchasing Landlord’s interest in the property which
includes the     Premises and, in
connection with that purchase, will be receiving an assignment of Landlord’s
interest under the Lease;

 

(b)                                Landlord,
Buyer and Buyer’s successors, agents and assigns (including, but not limited to
subsequent purchasers, lenders and title insurers) will be relying upon each of
the statements contained herein in connection with Buyer’s purchase of the
property of which the Premises are a part and but for the assurances and
agreements contained herein Buyer would not purchase the property of which the
Premises are a part; and

 

 

	
   

  	
  Tenant:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
       a

  	
   

  
	
   

  	
   

  
	
  Dated:

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   Typed Name:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   Title:

  	
   

  
								

 

2

 

EXHIBIT “E”

 

GENERAL CLEANING SPECIFICATIONS

 

The following service
procedures will be performed as indicated:

 

OFFICES

 

	
  Item

  	
   

  	
  Procedure

  	
   

  	
  Frequency

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
   

  	
  Empty all
  wastebaskets and trash containers

  	
   

  	
  Daily

  
	
  2.

  	
   

  	
  Replace trash
  liners

  	
   

  	
  As needed

  
	
  3.

  	
   

  	
  Empty and damp
  wipe all ashtrays

  	
   

  	
  Daily

  
	
  4.

  	
   

  	
  Dust all
  horizontal surfaces below 6’

  	
   

  	
  Weekly

  
	
  5.

  	
   

  	
  Dust all
  vertical surfaces

  	
   

  	
  Weekly

  
	
  6.

  	
   

  	
  Dust all high
  ledges, shelves, pictures, frames, blinds

  	
   

  	
  Weekly

  
	
  7.

  	
   

  	
  Vacuum carpets
  (traffic lanes)

  	
   

  	
  Daily

  
	
  8.

  	
   

  	
  Vacuum carpets
  (upright, reachable)

  	
   

  	
  Weekly

  
	
  9.

  	
   

  	
  Close vacuum
  (tank vac)

  	
   

  	
  Monthly

  
	
  10.

  	
   

  	
  Clean HVAC
  diffusers

  	
   

  	
  Quarterly

  
	
  11.

  	
   

  	
  Spot clean
  partition glass

  	
   

  	
  Daily

  
	
  12.

  	
   

  	
  Wash all
  partition glass - clean with squeegee

  	
   

  	
  Quarterly

  
	
  13.

  	
   

  	
  Clean and
  sanitize drinking fountain

  	
   

  	
  Daily

  
	
  14.

  	
   

  	
  Clean and
  sanitize telephones

  	
   

  	
  Weekly

  
	
  15.

  	
   

  	
  Wipe down
  elevator doors

  	
   

  	
  Weekly

  
	
  16.

  	
   

  	
  Clean and
  organize janitor’s closets

  	
   

  	
  Daily

  
	
  17.

  	
   

  	
  Sweep and mop
  janitor’s closet floor

  	
   

  	
  Monthly

  
	
  18.

  	
   

  	
  Remove staples
  from carpets

  	
   

  	
  Weekly

  
	
  19.

  	
   

  	
  Spot clean
  doors, frames and hardware

  	
   

  	
  Weekly

  
	
  20.

  	
   

  	
  Vacuum
  upholstery

  	
   

  	
  Monthly

  
	
  21.

  	
   

  	
  Dust elevator
  doors

  	
   

  	
  Daily

  
	
  22.

  	
   

  	
  Clean kitchen
  counter tops

  	
   

  	
  Daily

  
	
  23.

  	
   

  	
  Clean kitchen
  sinks

  	
   

  	
  Daily

  
	
  24.

  	
   

  	
  Wet mop and
  sweep vinyl composition tile

  	
   

  	
  Daily

  
	
  25.

  	
   

  	
  Spray buff vinyl
  composition tile

  	
   

  	
  Monthly

  
	
  26.

  	
   

  	
  Re-coat vinyl
  composition tile

  	
   

  	
  Quarterly

  
	
  27.

  	
   

  	
  Strip and
  re-coat vinyl composition tile

  	
   

  	
  Annually

  
	
  28.

  	
   

  	
  Sweep wood
  floors

  	
   

  	
  Daily

  
	
  29.

  	
   

  	
  Damp spot mop
  wood floors

  	
   

  	
  Daily

  
	
  30.

  	
   

  	
  Spray clean and
  buff wood floors

  	
   

  	
  Weekly

  
	
  31.

  	
   

  	
  Sweep and mop
  stairwells

  	
   

  	
  Weekly

  
	
  32.

  	
   

  	
  Spot clean stairwells

  	
   

  	
  Daily

  
	
  33.

  	
   

  	
  Sweep and mop
  Emergency Exit

  	
   

  	
  Weekly

  
	
  34.

  	
   

  	
  Spot clean
  Emergency Exit

  	
   

  	
  Daily

  
	
  35.

  	
   

  	
  Clean Emergency
  Exit doors

  	
   

  	
  Weekly

  

 

RESTROOMS

 

	
  Item

  	
   

  	
  Procedure

  	
   

  	
  Frequency

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
   

  	
  Empty all trash
  containers

  	
   

  	
  Daily

  
	
  2.

  	
   

  	
  Spot clean all
  mirrors

  	
   

  	
  Daily

  
	
  3.

  	
   

  	
  Clean and
  disinfect commodes, lavatories and urinals, inside and outside, clean commode
  seats, clean upper and lower sides using germicidal cleaner

  	
   

  	
  Daily

  
	
  4.

  	
   

  	
  Clean all
  lavatory hardware and chrome fixtures

  	
   

  	
  Daily

  
	
  5.

  	
   

  	
  Clean all wall
  tile with damp cloth around commodes, lavatories and urinals

  	
   

  	
  Daily

  
	
  6.

  	
   

  	
  Wet mop all
  floors using germicidal detergent

  	
   

  	
  Daily

  
	
  7.

  	
   

  	
  Refill all
  towel, tissue holders and soap dispensers

  	
   

  	
  Daily

  
	
  8.

  	
   

  	
  Spot clean
  toilet partitions with germicidal cleaner

  	
   

  	
  Weekly

  
	
  9.

  	
   

  	
  Spot scrub
  floors with band brush

  	
   

  	
  Monthly

  
	
  10.

  	
   

  	
  Wash all
  restroom walls (ceiling to floor and partitions)

  	
   

  	
  Monthly

  
	
  11.

  	
   

  	
  Clean air vents

  	
   

  	
  Monthly

  
	
  12.

  	
   

  	
  Squeegee clean
  mirrors

  	
   

  	
  Monthly

  

 

1

 

ELEVATORS

 

	
  Item

  	
   

  	
  Procedure

  	
   

  	
  Frequency

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
   

  	
  Clean and polish
  finishes (brass, chrome, wood)

  	
   

  	
  Daily

  
	
  2.

  	
   

  	
  Vacuum carpets

  	
   

  	
  Daily

  
	
  3.

  	
   

  	
  Clean elevator
  tracks

  	
   

  	
  Daily

  
	
  4.

  	
   

  	
  Dust elevator
  doors

  	
   

  	
  Daily

  
	
  5.

  	
   

  	
  Clean carpets

  	
   

  	
  As needed

  
	
  6.

  	
   

  	
  Steam extract
  carpets

  	
   

  	
  As needed

  
	
  7.

  	
   

  	
  Edge vacuum
  carpets

  	
   

  	
  Daily

  

 

BUILDING
EXTERIOR

 

	
  Item

  	
   

  	
  Procedure

  	
   

  	
  Frequency

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
   

  	
  Police area
  around building, parking lot, shrubbery and dumpster pad

  	
   

  	
  Daily

  
	
  2.

  	
   

  	
  Remove cigarette
  butts from sidewalk entrance

  	
   

  	
  Daily

  
	
  3.

  	
   

  	
  Clean building
  first floor reachable atrium exterior glass inside and out

  	
   

  	
  Weekly

  
	
  4.

  	
   

  	
  Polish entrance
  sign

  	
   

  	
  Monthly

  
	
  5.

  	
   

  	
  Clean mailbox
  area

  	
   

  	
  Daily

  
	
  6.

  	
   

  	
  Clean light
  bollard and front door entrance

  	
   

  	
  Weekly

  
	
  7.

  	
   

  	
  Wash windows

  	
   

  	
  Twice annually

  

 

ATRIUM
AND ELEVATOR LOBBIES

 

	
  Item

  	
   

  	
  Procedure

  	
   

  	
  Frequency

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
   

  	
  Spot clean all
  entrance glass

  	
   

  	
  Daily

  
	
  2.

  	
   

  	
  Polish all metal
  and wood trim

  	
   

  	
  Daily

  
	
  3.

  	
   

  	
  Clean and polish
  building directory on each floor

  	
   

  	
  Daily

  
	
  4.

  	
   

  	
  Vacuum all
  carpet

  	
   

  	
  Daily

  
	
  5.

  	
   

  	
  Spot clean
  carpet

  	
   

  	
  Daily

  
	
  6.

  	
   

  	
  Low dust

  	
   

  	
  Weekly

  
	
  7.

  	
   

  	
  Dust walls within
  reach

  	
   

  	
  Monthly

  
	
  8.

  	
   

  	
  Completely clean
  entrance door glass

  	
   

  	
  Weekly

  
	
  9.

  	
   

  	
  Clean elevator
  carpet

  	
   

  	
  As needed

  
	
  10.

  	
   

  	
  Damp mop hard
  surface floors

  	
   

  	
  Daily

  
	
  11.

  	
   

  	
  Dust mop hard
  surface floors

  	
   

  	
  Daily

  
	
  12.

  	
   

  	
  Clean ash urns
  in elevator lobbies

  	
   

  	
  Daily

  

 

2

 

EXHIBIT “F”

 

GUARANTY

 

IN
CONSIDERATION OF, and as an inducement for the execution by GERMANIA PROPERTY INVESTORS XXXIV, L.P., a
Georgia limited partnership (“Landlord”), of that certain Lease Agreement dated
                    ,
2004 (the “Lease”) between Landlord and
NEENAH PAPER, INC., a Delaware corporation (“Tenant”), demising to
Tenant a leasehold estate in and to space (the “Premises”) in that certain
building known as Preston Ridge III, situated in Alpharetta, Georgia, the
undersigned Guarantor (jointly and severally, the “Guarantor”) hereby
unconditionally guarantees to Landlord (and its successors and assigns) the
full and timely payment of all amounts owed by Tenant (or its successors and
assigns) under the Lease, and further hereby unconditionally guarantees the
full and timely performance and observance of all the covenants, terms,
conditions and agreements therein provided to be performed and observed by
Tenant (or its successors and assigns). 
Guarantor hereby covenants and agrees to and with Landlord (and its
successors and assigns) if Tenant (or its successors and assigns) should
default in the payment of any such rent and any and all other sums and charges
payable by Tenant (or its successors and assigns) under the Lease, or if Tenant
(or its successors and assigns) should default in the performance and
observance of any of the covenants, terms, conditions or agreements contained
in the Lease, Guarantor will forthwith pay such rent and other sums and charges,
and any arrears thereof, to Landlord (or its successors and assigns), and will
forthwith faithfully perform and fulfill all of such terms, covenants,
conditions and agreements, and will forthwith pay to Landlord (or its
successors and assigns), all damages, costs and expenses that may arise in
consequence of any default by Tenant (or its successors and assigns) under the
Lease, including without limitation all reasonable attorneys’ fees, court
costs, accounting fees, investigation costs and other disbursements incurred by
Landlord (or its successors and assigns) or caused by any such default and/or
by the enforcement of this Guaranty.

 

This
Guaranty is an absolute and unconditional Guaranty of payment and of
performance.  It shall be enforceable
against Guarantor (and its successors and assigns) without the necessity of any
suit or proceedings on Landlord’s part of any kind or nature whatsoever against
Tenant (or its successors and assigns) and without the necessity of any notice
of nonpayment, nonperformance or nonobservance of any notice of acceptance of
this Guaranty, or of any other notice or demand to which Guarantor might
otherwise be entitled, all of which Guarantor (for Guarantor and Guarantor’s
successors and assigns) hereby expressly waives.  Guarantor hereby expressly agrees that the
validity of this Guaranty and the obligations of Guarantor hereunder shall in
no way be terminated, affected, diminished or impaired by reason of the
assertion or the failure to assert by Landlord against Tenant (or against
Tenant’s successors and assigns) of any of the rights or remedies reserved to
Landlord pursuant to the provisions of the Lease or by relief of Tenant from
any of Tenant’s obligations under the Lease or otherwise by:  (a) the release or discharge of Tenant in any
creditor’s proceedings, receivership, bankruptcy or other proceedings; (b) the
impairment, limitation or modification of the liability of Tenant or the estate
of Tenant in bankruptcy, or of any remedy for the enforcement of Tenant’s said
liability under the Lease, resulting from the operation of any present or
future provision of the Federal Bankruptcy Code, as amended from time to time,
or any other statute, or from the decision in any court; or (c) the rejection
or disaffirmance of this Lease in any such proceedings.

 

This
Guaranty shall be a continuing guaranty and the liability of Guarantor shall in
no way be affected, modified or diminished by reason of any assignment (except
as set forth below), amendment, renewal, expansion, supplement, modification or
waiver of, or change in, any of the terms, covenants, conditions or provisions
of the Lease, or by reason of any extension of time that may be granted by
Landlord to Tenant (or its successors or assigns) or a changed or different use
of the Premises consented to in writing by Landlord and Tenant, its successors
and assigns, whether or not notice thereof is given to Guarantor.

 

Guarantor
expressly waives any and all defenses arising by reason of any amendment,
modification, extension or renewal of the Lease, any failure to give notice of
default, any failure to pursue potential remedies with due diligence, any
failure to resort to other security or other remedies available to Landlord
under the Lease, any failure of Landlord to take any action to terminate the
Lease, or to take possession of and relet the Premises for Tenant’s account
except as set forth in the Lease, and any and all defenses arising out of the
guarantor-principal relationship, and the same shall not operate to release
Guarantor from any of its undertakings as set forth herein.

 

Landlord’s
consent to any assignment or assignments, and successive assignments by Tenant
and Tenant’s assigns of the Lease, made either with or without notice to
Guarantor, shall in no manner whatsoever release Guarantor from any liability
as Guarantor, except as specifically provided in the Lease or in conjunction
with such assignment.

 

The
assignment by Landlord of the Lease, and/or the avails and proceeds thereof,
made either with or without notice to Guarantor, shall in no manner whatsoever
release Guarantor from any liability as Guarantor hereunder.  The term “Landlord” as used herein shall be
deemed to include Landlord’s successors and assigns.  Capitalized terms not herein defined shall
have the meanings ascribed to such terms in the Lease.

 

All of
Landlord’s rights and remedies under the Lease or under this Guaranty are
intended to be distinct, separate and cumulative, and no such right and remedy
therein or herein mentioned is intended to be in exclusion of or a waiver of
any of the others.  The obligation of
Guarantor hereunder shall not be released by Landlord’s receipt, application,
release or compromise of security or other guarantees given for the performance
and observance of covenants and conditions required to be performed and
observed by Tenant under Lease, nor shall Guarantor be released by the
maintenance of or execution upon any lien which Landlord may have or assert
against Tenant and/or Tenant’s assets.

 

1

 

Until
all the covenants and conditions in the Lease on Tenant’s part to be performed
and observed are fully performed and observed, Guarantor (a) shall have no
right of subrogation against Tenant by reason of any payments or acts or performance
by Guarantor in compliance with the obligations of Guarantor hereunder; (b)
waives any right to enforce any remedy which Guarantor now or hereafter shall
have against Tenant by reason of any one or more payment or acts or performance
in compliance with the obligations of Guarantor hereunder; and (c) subordinates
any liability or indebtedness of Tenant now or hereafter held by Guarantor to
the obligations of Tenant to Landlord under the Lease.

 

This
Guaranty, and Guarantor’s obligations hereunder, shall be governed by and
construed under the laws of the State of Georgia, and all obligations of the
parties hereto shall be performable in Fulton County, Georgia.

 

Guarantor
represents and warrants that the value of the consideration received and to be received
by Guarantor is reasonably worth at least as much as the liability and
obligations of Guarantor hereunder, and such liability and obligations may
reasonably be expected to benefit Guarantor directly or indirectly.

 

Notwithstanding
anything herein to the contrary, this Guaranty shall terminate automatically
without further acts by Guarantor or Lessor upon the occurrence of the Closing
(as that term is defined in the Lease). 
Notwithstanding anything herein to the contrary, following the Closing,
the Guarantor shall have no liability under this Guaranty or the Lease
whatsoever.

 

[Signatures
appear on the following page]

 

2

 

IN
WITNESS WHEREOF, Guarantor has executed this Guaranty under seal this         
day of                             ,
2004.

 

 

	
  Signed, sealed
  and delivered

  in the presence
  of:

  	
  GUARANTOR:

  
	
   

  	
   

  
	
   

  	
   

  	
  KIMBERLY-CLARK
  CORPORATION,

  a Delaware
  corporation

  
	
  Unofficial
  Witness

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  	
   

  
	
  Notary Public

  	
   

  	
  Title:

  	
   

  	
   

  
	
  My Commission
  Expires:

  	
  Tax ID#:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  [Notary Seal]

  	
   

  	
  Address for
  Notice Purposes:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
										

 

3

 

EXHIBIT “G”

 

PRESTON
RIDGE III

 

LEGAL
DESCRIPTION

OF
PROPERTY

 

All that tract or parcel of land lying in and
being in Land Lot 1 of the 1st District, 1st Section,
Land Lot 1244 of the 2nd District, 1st Section, Land Lot
1261 of the 2nd District. 2nd Section, and Land Lot 910
of the 1st District, 2nd Section, Fulton County, City of
Alpharetta, Georgia, and being more particularly described as follows:

 

Commence at the intersection of the
northeasterly right-of-way of Preston Ridge Road(having a variable
right-of-way), with the northwesterly right-of-way of North Point
Parkway(having a 120 foot right-of-way) if the tangent of said right-of-way of
Preston Ridge Road were projected to intersect with the projected arc of said
right-of-way of North Point Parkway;

 

THENCE North 64 degrees 13 minutes 24 seconds
West for a distance of 30.13 feet to a 1/2” rebar found on the Northerly
right-of-way of Preston Ridge Road;

 

THENCE along the northerly right-of-way of
Preston Ridge Road the following courses and distances;

 

THENCE North 64 degrees 13 minutes 24 seconds
West for a distance of 82.78 feet to a 1/2” rebar found;

 

THENCE along a curve to the left having a radius
of 560.87 feet and an arc length of 294.18 feet, being subtended by a chord of
North 79 degrees 14 minutes 59 seconds West for a distance of 290.82 feet to a
1/2” rebar found;

 

THENCE South 85 degrees 43 minutes 27 seconds
West for a distance of 243.38 feet to a 1/2” rebar found, said point being the
POINT OF BEGINNING;

 

THENCE South 85 degrees 43 minutes 27 seconds
West for a distance of 182.54 feet to a 1/2” rebar found;

 

THENCE along a curve to the left having a radius
of 921.47 feet and an arc length of 381.95 feet, being subtended by a chord of
South 73 degrees 50 minutes 59 seconds West for a distance of 379.22 feet to a
1/2” rebar found;

 

THENCE South 64 degrees 28 minutes 12 seconds
West for a distance of 104.26 feet to a point;

 

THENCE North 16 degrees 14 minutes 08 seconds
West for a distance of 442.21 feet leaving the northerly right-of-way of
Preston Ridge Road to a point;

 

THENCE South 85 degrees 45 minutes 40 seconds
West for a distance of 184.09 feet to a point;

 

THENCE North 03 degrees 46 minutes 46 seconds
West for a distance of 345.98 feet to a point;

 

THENCE North 83 degrees 23 minutes 47 seconds
East for a distance of 790.21 feet to 1/2” rebar found;

 

THENCE South 05 degrees 38 minutes 53 seconds
East for a distance of 118.50 feet to a 1/2” rebar found;

 

THENCE South 44 degrees 28 minutes 48 seconds
East for a distance of 203.17 feet to a 1/2” rebar found;

 

THENCE South 04 degrees 16 minutes 33 seconds
East for a distance of 421.33 feet THE POINT OF BEGINNING

 

Said property contains 12.767 acres more or
less.

 

1

 

EXHIBIT “H”

 

INSURANCE

 

1.                                      COMMERCIAL
GENERAL LIABILITY POLICY (1986 or later edition)

 

General
Liability Limits:

 

	
  $

  	
  2,000,000

  	
   

  	
  General
  Aggregate

  
	
  $

  	
  2,000,000

  	
   

  	
  Products and
  Completed 0perations

  
	
  $

  	
  1,000,000

  	
   

  	
  Personal and
  Advertising Injury

  
	
  $

  	
  1,000,000

  	
   

  	
  Each Occurrence

  
	
  $

  	
  50,000

  	
   

  	
  Fire Damage
  Limit (any one fire)

  
	
  $

  	
  5,000

  	
   

  	
  Medical Expense
  Limit (any one person)

  

 

Said policy shall have a commercially reasonable
deductible or Self Insured Retention.

 

2.                                      UMBRELLA
/ EXCESS LIABILITY

 

General
Limits:

 

	
  $

  	
  1,000,000

  	
   

  	
  Each Occurrence

  
	
  $

  	
  1,000,000

  	
   

  	
  General
  Aggregate

  

 

3.                                      WORKERS
COMPENSATION

 

The policy must comply with all statutory requirements

 

Employer’s Liability:

 

	
  $

  	
  100,000

  	
   

  	
  Bodily injury by
  accident

  
	
  $

  	
  500,000

  	
   

  	
  Policy limit by
  disease

  
	
  $

  	
  100,000

  	
   

  	
  Bodily injury by
  disease each employee

  

 

4.                                      BUSINESS
INTERRUPTION INSURANCE

 

This policy must equal to not less than twelve months
of Rent payable by Tenant at the Premises pursuant to the terms of this Lease
which insurance shall be issued on an “all risks” basis (or its equivalent).

 

5.                                      TENANT
PROPERTY AND IMPROVEMENTS

 

The
policy must cover all direct physical loss equal to 100% replacement cost of
Tenant’s personal property, all improvements and alterations to the Premises,
together with Tenant’s fixtures and equipment.

 

All of said
policies shall: (i) name Landlord, Landlord’s agent and Childress Klein
Properties, Inc., together with their respective affiliates, as additional
insureds and insure Landlord’s contingent liability under this Lease (except
for the worker’s compensation policy, which shall instead include a waiver of
subrogation endorsement in favor of Landlord), (ii) be issued by an insurance
company licensed to do business in the State of Georgia which is acceptable to
Landlord and rated at least “A VIII” by A.M. Bests Rating Guide, and (iii)
provide that said insurance shall not be canceled unless thirty (30) days prior
written notice shall have been given to Landlord and Landlord’s property
manager at the following address:                                                                                    .  Said policies or certificates thereof shall
be delivered to Landlord and Landlord’s property manager by Tenant upon
commencement of the term of the Lease and upon each renewal of said insurance.

 

1

 

EXHIBIT “I”

SPECIAL STIPULATIONS

 

Special
Stipulation Number 1.                             Abatement of Rent.

 

Notwithstanding
anything to the contrary, Net Rent and Expense Stop Rent shall be conditionally
abated from the period commencing on the Commencement Date and through and
until the end of the 12th full calendar month thereafter (“Rent
Start Date”).  Commencing upon the Rent
Start Date, Tenant shall make Net Rent and Expense Stop Rent payments as
otherwise provided in the Lease. 
Notwithstanding such abatement of Net Rent, Expense Stop Rent and all
other sums due under the Lease, any increases in Net Rent and Expense Stop Rent
set forth in the Lease shall occur on the dates scheduled therefor but the
Tenant shall not be responsible for the payment of such increases until the
Rent Start Date.  The abatement of Net
Rent and Expense Stop Rent provided for in this provision is conditioned upon
the Tenant not being in an Event of Default . 
If at any time during the Term an Event of Default by Tenant occurs,
then the abatement of Net Rent and Expense Stop Rent provided for in this
provision shall be voided during the period while such Event of Default remains
uncured, and during such period, Tenant shall pay to Landlord, in addition to
all other amounts due to Landlord under this Lease, the full amount of all Net
Rent and Expense Stop Rent which would have otherwise been due but for the abatement
provided for in this Special Stipulation Number 1.  Under no circumstances shall Tenant be
obligated to reimburse Landlord for previously abated Rent.

 

Special
Stipulation Number 2.                             Option to Renew:

 

A.           Following the
Commencement Date and thereafter during the Term (excluding any holdover
period), so long as, both as of the exercise date and as of the first day of
the Extended Term (as hereinafter defined), the Lease is in full force and
effect (provided that Tenant’s exercise of its right to renew this Lease shall
not be forfeited pursuant to Landlord’s actions rendering the Lease not in full
force and effect) and, both as of the exercise date and the first day of the
Extended Term, no Event of Default exists, Landlord hereby grants to Tenant two
(2) options to extend the Term with respect to all but not any lesser portion
of the Premises for successive periods of five (5) years each (each “Extended
Term”), beginning immediately upon the expiration of the Term for the first
Extended Term and beginning immediately upon the expiration of the first
Extended Term for the second Extended Term, such options to be exercised by
Tenant giving written notice of its exercise to Landlord in the manner provided
in this Lease at least twelve months (12) months prior, but not more than
fifteen (15) months prior, to the expiration of the Term for the first Extended
Term and the expiration of the first Extended Term for the second Extended
Term.  Time is of the essence with respect
to the foregoing.  Tenant may not exercise
the option for the second Extended Term unless it exercised the option for the
first Extended Term.

 

B.             Net Rent for the
Extended Term shall be ninety-five percent (95%) of the prevailing market rate
(the “Prevailing Market Rate”) for net effective rental calculated on a per
square foot basis for comparable renewal leases during the Extended Term
covering the Building and comparable class A suburban office buildings
comparable to the Building (as adjusted for any variances between such
buildings and the Building and as adjusted for other relevant factors,
including, but not limited to, size of space, location of space within the
building, signage rights, age, location and quality of building, length of
term, credit standing of tenant, tenant improvement contributions, leasing
commissions and rent concessions) located in the immediate market area of the
Building, not to exceed a three mile radius therefrom (hereinafter referred to
as the “Market Area”).

 

C.             Landlord shall,
within twenty (20) days after the receipt of Tenant’s notice of exercise,
notify Tenant in writing of Landlord’s reasonable determination of the
Prevailing Market Rate for the Premises for the Extended Term.  Thereafter, Tenant shall have ten (10)
business days from its receipt of Landlord’s notice to notify Landlord in
writing that Tenant does not agree with Landlord’s determination of the
Prevailing Market Rate.  If Tenant fails
to object as aforesaid, Landlord’s determination shall be deemed to be the
Prevailing Market Rate for the Extended Term. 
Upon receipt of Tenant’s objection, Landlord and Tenant shall meet for a
period of ninety (90) additional days (the “Negotiation Period”) to negotiate
the Prevailing Market Rate, with each acting in good faith.  If such negotiations are successful, the rate
so negotiated by the parties will be deemed to be the Prevailing Market Rate
for the Extended Term.  If such
negotiations are not successful, the Prevailing Market Rate will be determined
in accordance with the following arbitration procedure:

 

Within five (5)
days after the expiration of the Negotiation Period, Tenant shall notify
Landlord of Tenant’s selection of a real estate broker who shall act on Tenant’s
behalf in determining the Prevailing Market Rate.  Within five (5) days after Tenant delivers
its notice to Landlord as set forth above, Landlord shall notify Tenant of
Landlord’s selection of a real estate broker who shall act on Landlord behalf
in determining the Prevailing Market Rate. 
Within twenty (20) days after the selection of Tenant’s and Landlord’s
broker, the two (2) brokers shall render a joint written determination of the
Prevailing Market Rate, which joint determination shall be final, conclusive
and binding for the Extended Term.  If
the two (2) brokers are unable to agree upon a joint written determination
within said twenty (20) day period, the two brokers shall select a third broker
within such twenty (20) day period and shall each submit a determination of the
Prevailing Market Rate to such third broker. 
In the event the two brokers cannot agree on a third, Landlord or Tenant
may request that the local chapter of the Board of Realtors appoint a party to
act as the third broker.  Within ten (10)
days after the appointment of the third broker, the third broker shall render a
written determination of the Prevailing Market Rate, which must be either the
Landlord’s broker’s determination as submitted or the Tenant’s broker’s
determination as submitted, but no other amount and no compromise between the
two, with the third broker’s determination being final, conclusive and binding
on both parties.  All brokers selected or
appointed in accordance with this subparagraph shall have at least ten (10)
years prior experience in the commercial office leasing market of the Market
Area.  If either Landlord or Tenant fails
or refuses to select a broker, the other broker shall alone determine the
Prevailing Market Rate.  Landlord and
Tenant agree that they shall be bound by the determination of Prevailing Market
Rate pursuant to this paragraph. 
Landlord shall bear the fee and expenses of its broker; Tenant shall
bear the fee and expenses of its broker; and Landlord and Tenant shall share
equally the fee and expenses of the third broker, if any.

 

 

D.  Notwithstanding anything to the contrary
contained herein, in the event the Prevailing Market Rate determined in
accordance with subsection C above is less than the rate payable upon the
expiration of the initial Term (or the first Extended Term, as applicable) of
the Lease, the Prevailing Market Rate will be automatically adjusted to be the
annual Net Rent in effect during the last year of the Term subject to the same rate of escalation as was in
place during the initial Term (or the first Extended Term, as applicable).  The Prevailing Market Rate determined in
accordance with this Special Stipulation Number 2 shall be final, binding and
conclusive upon the parties and such determination shall not be subject to
dispute or challenge in court or otherwise.

 

E.              Except for the Net
Rent, which shall be determined as set forth above, leasing of the Premises by
Tenant for the Extended Term shall be subject to all of the same terms and
conditions set forth in this Lease, including, but not limited to, the same
Expense Stop; provided, however, that any construction provisions, improvement
allowances, rent abatements or other concessions applicable to the Premises
during the initial Term shall not be applicable during the Extended Term
(unless otherwise mutually acceptable to both Landlord and Tenant in the sole
discretion of each at the time Tenant exercises its option to extend).  Landlord and Tenant shall enter into an
amendment to this Lease to evidence Tenant’s exercise of this extension
option.  If this Lease is guaranteed now
or at any time in the future, Tenant simultaneously shall deliver to Landlord
an original, signed reaffirmation of each guarantor’s guaranty, in form and
substance acceptable to Landlord.

 

F.              These options to
extend the Term are personal to Neenah Corporation, a Delaware corporation, may
not be exercised by any party other than Neenah Corporation, a Delaware
corporation or a Permitted Affiliate or Permitted Successor and shall become
null and void upon the occurrence of an assignment of the Lease or a sublet of
all or a part of the Premises.

 

Special
Stipulation Number 3.  Right of Refusal.

 

A.  Following the Commencement Date and
thereafter during the initial Term (excluding any Extended Terms or holdover
period), so long as the Lease is in full force and effect (provided that Tenant’s
Right of Refusal shall not be forfeited pursuant to Landlord’s actions
rendering the Lease not in full force and effect) and both at the time of
Landlord’s Offer (as hereinafter defined) and as of the effective date of the
expansion to include the Refusal Space (as hereinafter defined) if applicable,
no Event of Default exists, Landlord hereby grants to Tenant a Right of Refusal
(the “Right of Refusal”) to expand the Premises to include additional space
subject to the terms and conditions set forth herein.

 

B.  After Landlord has received a “bona-fide”
offer to lease space (the “Refusal Space”) which is limited to space on the
fifth (5th) floor of the Building by a third party prospective tenant (as
determined by Landlord) and which Landlord is willing to accept in its sole
discretion (the “Third Party Offer”), Landlord shall not lease to such third
party tenant the Refusal Space without first offering (the “Offer”) Tenant the
right to lease such Refusal Space as set forth herein.  As used herein, a “bona-fide” offer to lease
space shall mean a signed written offer (by Tenant or Tenant’s representative)
to lease any portion of the Refusal Space to a third party, setting forth all
of the material terms of such proposed lease, and which the Landlord tends to
accept, but shall not include any proposed assignment, sublease or re-let of
all or any portion of the Refusal Space by renewal, extension, or renegotiation
by either (i) a current tenant existing as of the date hereof currently
occupying any of the Refusal Space, or (ii) a future tenant arising in the
event that Landlord leases any or all of the Refusal Space to such tenant
following Tenant’s decline or failure to exercise this Right of Refusal with
respect to such Refusal Space.

 

C.  The Offer shall contain (i) all terms and
conditions of the Third Party Offer; (ii) the date on which Landlord expects
the Refusal Space to become available; (iii) the increase in Tenant’s operating
expense percentage, and (iv) such other provisions as Landlord may reasonably
include (collectively, the “Proposed Terms”) and which have been agreed to in
writing by the proposed third party tenant. 
Upon receipt of the Offer, Tenant shall have the right, for a period of
ten (10) business days after receipt of the Offer, to exercise the Right of
Refusal by giving Landlord written notice that Tenant desires to lease the
Refusal Space upon the same terms and conditions contained in this Lease (as
modified by the Offer); provided, however, that any construction provisions,
improvement allowances, rent abatements (such as that granted in Special
Stipulation Number 1 but excluding abatements applicable for casualties or
service interruptions) or other concessions applicable to the Premises shall
not be applicable to the Refusal Space unless expressly included in the
Offer.  Time is of the essence with
respect to the foregoing.  The term of
the Lease with respect to the Refusal Space shall be coterminous with the Term
of the Lease, unless otherwise provided in the Offer.

 

D.  If, within
such ten (10) business day period, Tenant exercises the Right of Refusal, then
Landlord and Tenant shall amend the Lease within an additional ten (10)
business day period (provided however that such 10 day period shall be extended
for such longer period so long as Tenant is diligently negotiating the
amendment, but in no event shall such time period exceed thirty (30) days) to
include the Refusal Space subject to the same terms and conditions as the
Lease, as modified by the terms and conditions of the Offer; provided, however,
that any construction provisions, improvement allowances, rent abatements (as
provided and qualified above) or other concessions applicable to the Premises
shall not be applicable to the Refusal Space unless expressly included in the
Offer.  If this Lease is guaranteed now
or at anytime in the future, and such Guaranty is still in effect at the time
of the effective date of Tenant’s lease of the Refusal Space, Tenant
simultaneously shall deliver to Landlord an original, signed, and notarized
reaffirmation of each Guarantor’s personal guaranty, in form and substance
acceptable to Landlord.

 

E.  If, within such ten (10) business day period,
Tenant declines or fails to exercise the Right of Refusal or within the
additional ten (10) business day period provided above (as same may be extended
as provided above), Tenant fails to sign an amendment to include the Refusal
Space, Landlord shall then have the right to lease the Refusal Space to the
third party that was subject to the Offer provided that the financial terms
thereof are not materially more favorable than the financial terms of the
Proposed Terms offered to Tenant (if such standard is not met, the provisions
hereof will again be triggered requiring Landlord to deliver a notice of the
Proposed Terms as modified by such materially more favorable financial terms
whereupon the offer and response process described herein shall begin
again).  Financial terms and conditions
that in Landlord’s reasonable discretion are less than ninety percent (90%) of
the financial terms offered to Tenant as part of the Proposed Terms shall be
considered to be “materially more favorable” for purposes of this Right of
Refusal.  If Tenant so declines or so
fails to exercise, this Right of Refusal shall terminate and be of no further
force and effect until such time as Landlord has received another Third Party
Offer  to lease any of the Refusal Space.

 

F.  This Right of Refusal is personal to Neenah
Corporation, a Delaware corporation, may not be exercised by any party other
than Neenah Corporation, a Delaware corporation 
or a Permitted Affiliate or Permitted Successor and shall become null
and void upon the occurrence of an assignment of the Lease or a sublet of all
or a part of the Premises.

 

 

EXHIBIT J

ARBITRATION

 

Whenever in Section 19(d)
of the Lease it is provided that a dispute may be resolved by arbitration, the
arbitration shall be conducted in Atlanta, Georgia, as provided in this Exhibit
J.  The party desiring such arbitration
shall give written notice thereof to the other specifying the dispute to be
arbitrated.  Within ten (10) days after
the date on which the arbitration procedure is invoked as provided in this
Lease, each party shall appoint an experienced arbitrator and notify the other
party of the arbitrator’s name and address. 
The two arbitrators so appointed shall appoint a third experienced
arbitrator.  If the three arbitrators to
be so appointed are not appointed within twenty (20) days after the date the
arbitration procedure is invoked as provided in this Lease, then the arbitrator
or arbitrators, if any, who have been selected shall proceed to carry out the
arbitration.  The arbitrator(s) selected
shall furnish Landlord and Tenant with a written decision within ten (10) days
after the date of selection of the last of the arbitrators to be so selected.
Any decision so submitted shall be signed by a majority of the arbitrators, if
more than two have been selected.  If
only two arbitrators have been selected and they are unable to agree, then
either Landlord or Tenant shall be entitled to apply to the presiding judge of
the Superior Court of Fulton County, Georgia (“Court”) for the selection of a
third arbitrator who shall be selected from a list of names of experienced
arbitrators submitted by Landlord or from a list of names so submitted by
Tenant, as the case may be, unless both Landlord and Tenant submit lists of
names, in which case the Court, in its sole discretion, shall select the
arbitrator from the lists.  In
designating arbitrators and in deciding the dispute, the arbitrators shall act
in accordance with the Commercial Rules of Arbitration and the Real Estate
Valuation Arbitration Rules then in force of the American Arbitration
Association, subject, however, to such limitations as may be placed on them by
the provisions of this Lease.  The
decision of the arbitrators shall be final and binding upon the parties, and
judgment on the award rendered by the arbitrators may be entered in any court
having jurisdiction thereof.

 

 The obligation of Landlord and Tenant to
submit a dispute to arbitration is limited to disputes arising under Section 19(d)
of the Lease which specifically permits arbitration.  Neither party shall be in default under the
Lease with respect to any provision hereof during the time period commencing as
of the date the arbitration procedure hereunder is invoked and ending on the
date of resolution by the arbitrators; provided, however, that during said
period each party shall continue to make all payments of money required by this
Lease and shall otherwise perform all duties and obligations to be performed by
such party under this Lease and, with respect to the issue under arbitration,
shall maintain the status quo.

 

 

EXHIBIT “K”

SNDA

 

This instrument was
prepared by

and upon recordation
should be

returned to:

 

 

 

SUBORDINATION, NON-DISTURBANCE & ATTORNMENT
AGREEMENT

 

THIS
SUBORDINATION, NON-DISTURBANCE & ATTORNMENT AGREEMENT (“Agreement”)
made and entered into this             
day of                             ,
19        , by and among                                                   ,  a                                                         ,
whose mailing address is                                                                                     
(the “Landlord”),                                                 ,
a                                                 ,
whose mailing address is                                                                                           
(the “Tenant”), and STATE FARM LIFE INSURANCE
COMPANY, an Illinois corporation, whose mailing address is One State
Farm Plaza, Bloomington, Illinois  61710
(“State Farm”);

 

WITNESSETH:

 

WHEREAS, Landlord
and Tenant have heretofore entered into a certain lease (the “Lease”) dated                                   ,
19           with respect to
and governing the terms of Tenant’s use and occupancy of all or a portion of
certain real estate and improvements legally described on Exhibit A
attached hereto and made a part hereof (the “Premises”) ; and

 

WHEREAS, State
Farm, in connection with its loan to Landlord in the principal amount of                     
(the “Loan”), which is secured by a Mortgage and Security Agreement executed by
Landlord to and in favor of State Farm (the “Mortgage”) constituting a first
lien upon and encumbering the Premises, and further secured by an Assignment of
Rents and Leases executed by Landlord to and in favor of State Farm (the “Assignment
of Rents and Leases”) assigning to State Farm all leases of and all rents derived
from the Premises, has required the execution of this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants and
agreements herein contained, and in consideration of the sum of One Dollar
($1.00) by each of the parties hereto paid to the other, receipt and
sufficiency of which are hereby acknowledged, the parties hereto do hereby
covenant, stipulate and agree as follows:

 

1.                                       The
Lease, and any and all modifications thereof and amendments thereto, all of
Tenant’s rights thereunder and Tenant’s leasehold interest and estate in the
Premises shall be and are hereby made junior, inferior, subordinate and subject
in all respects to the lien and encumbrance of the Mortgage on the Premises and
to the lien and encumbrance of all renewals, modifications, consolidations,
replacements and extensions of the Mortgage, to the full extent of the
principal sum secured thereby, all interest thereon and all other sums due or
hereafter becoming due thereunder.

 

2.                                       Tenant
agrees that it shall promptly deliver or mail to State Farm a copy of each
written notice given by Tenant to Landlord of a default by the Landlord under
the Lease.  Tenant further agrees that
if, within the time provided in the Lease to cure defaults thereunder, State
Farm, at its option, shall elect to perform or cause to be performed the
obligations with respect to which Landlord is in default under the Lease, as
specified in such written notice, any right of Tenant to terminate the Lease by
reason or on account of such default of Landlord shall cease and be null and
void.

 

3.                                       Tenant
is advised and hereby acknowledges that the Mortgage, Assignment of Rents and
Leases and other documents which evidence and secure the Loan (collectively the
“Loan Documents”) grant and provide to State Farm the right to collect rents
and other sums payable under the Lease (collectively, the “Rents”) directly
from Tenant upon the occurrence of an Event of 
Default by Landlord under the Loan Documents; Landlord and Tenant hereby
agree that upon Tenant’s receipt from State Farm of written notice of the
occurrence of any Event of Default by Landlord under the Loan Documents, Tenant
shall thereafter pay all Rents directly to State Farm (or as State Farm shall
direct). Landlord joins in this Agreement to confirm to Tenant that payment of
rents in such fashion is consented to and approved for all purposes under the
Lease, and that payment by Tenant to Lender instead of Landlord shall not
result in or be construed to be a default under the Lease.

 

4.                                       State
Farm agrees that in the event it should become necessary for State Farm to
foreclose the Mortgage, and provided that Tenant is not in default of its
obligations under the Lease, Tenant shall be entitled to continue in possession
of the Premises undisturbed.  State Farm
further agrees that unless required by law, State Farm will not join Tenant as
a defendant in any such foreclosure proceedings, and if such joinder is
required by law, State Farm will not seek to terminate the Lease or Tenant’s
possession of the Premises.

 

5.                                       It
is further agreed that in the event State Farm should succeed to the interest
of the Landlord under the Lease, State Farm agrees to be bound to the Tenant
under the Lease.  The Tenant agrees from
and after such event to attorn to State Farm. From the date of acquisition,
Tenant shall have the same rights and remedies against and obligations to State
Farm that Tenant has against and to

 

 

the prior Landlord for
any default that is in existence and continues beyond the date of acquisition
(a “Continuing Default”).  However, State
Farm shall not be:

 

(a)                                  liable
for the consequences of any act or omission of the prior Landlord that occurred
prior to State Farm’s acquisition, except with regard to a Continuing Default;

 

(b)                                 subject
to any offsets or defenses which the Tenant might have against the prior
Landlord, for acts, omissions, or defaults which occurred prior to State Farm’s
acquisition, except with regard to a Continuing Default;

 

(c)                                  bound by any rent or
additional rent which the Tenant might have paid in advance for more than one
month;

 

(d)                                 bound
by any amendment or modification of the Lease made after the date of this
Agreement without State Farm’s prior written consent; or

 

(e)                                  liable
for any security deposit, unless actually received by State Farm from the prior
Landlord.

 

6.                                       Tenant
agrees that notwithstanding anything to the contrary contained in this
Agreement, in the Lease or in any other instrument, any interest of the Tenant
in or under any option to purchase or right of first refusal to purchase the
property of which the Premises are a part of, or with respect to all or any
part of the Premises is hereby specifically subordinated to the rights of State
Farm under the Mortgage and other Loan Documents and such option to purchase or
right of the first refusal shall not be binding upon State Farm, its successors
and assigns.

 

7.                                       This
Agreement shall be binding upon and inure to the benefit of the parties hereto
and shall also bind and benefit the heirs, legal representatives, successors
and assigns of the respective parties hereto, and all covenants, conditions and
agreements herein contained shall be construed as running with the title to the
land comprising the Premises.

 

8.                                       Landlord
and Tenant hereby waive to the fullest extent permitted by applicable law, the
right to trial by jury in any action, proceeding or counterclaim filed by any
party, whether in contract, tort or otherwise relating directly or indirectly
to this Agreement or any acts or omissions of the Landlord and Tenant in
connection therewith or contemplated thereby.

 

IN
WITNESS WHEREOF, the parties hereto have caused these
presents to be executed as of the day and year first above written.

 

 

	
  [Witnesses, if
  required]

  	
   

  	
  [Signature block
  for Landlord]

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  [Witnesses, if
  required]

  	
   

  	
  [Signature block
  for Tenant]

  

 

 

	
  [Witnesses, if
  required]

  	
  STATE FARM LIFE
  INSURANCE COMPANY,

  
	
   

  	
   

  	
  an Illinois
  corporation

  
	
   

  	
   

  	
  By: 

  	
   

  	
   

  
	
   

  	
   

  	
  Its: 

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
   

  	
   

  
	
   

  	
   

  	
  Its: 

  	
   

  	
   

  
	
   

  	
   

  	
  Address:

  
	
   

  	
   

  	
  One State Farm
  Plaza

  
	
   

  	
   

  	
  Bloomington,
  Illinois 61710

  
	
   

  	
   

  	
  Corporate
  Law-Investments E-8

  
	
   

  	
   

  	
  Attn: (Name of
  Attorney)

  
	
   

  	
  [Appropriate
  Acknowledgments for each of

  
	
   

  	
   

  	
  Landlord, Tenant
  and State Farm

  
	
   

  	
   

  	
  sufficient for
  recording purposes]Exhibit 10.4

 

INDUSTRIAL

LEASE AGREEMENT

 

 

THIS
INDUSTRIAL LEASE AGREEMENT (this “Lease”) is executed as of this 8th day of October, 2004, by and
between DUKE REALTY LIMITED PARTNERSHIP, an Indiana limited partnership (“Landlord”),
and NEENAH PAPER, INC., a Delaware corporation (“Tenant”).

 

WITNESSETH:

 

ARTICLE 1 - LEASE OF PREMISES

 

Section 1.01.  Basic Lease Provisions and Definitions.

 

(a)                                  Leased
Premises (shown outlined in Exhibit A
hereto):  Suite B of the building (the “Building”)
located at 655 Hembree Park Drive, Roswell, Georgia 30076, within Hembree Park
(the “Park”).

 

(b)                                 Rentable
Area:  approximately 14,189 rentable
square feet.

 

(c)                                  Tenant’s
Proportionate Share:  32.30%.

 

(d)                                 Minimum
Annual Rent:

 

	
  Year 1

  	
   

  	
  $

  	
  46,114.25

  	
   

  
	
  Year 2

  	
   

  	
  $

  	
  92,228.50

  	
   

  
	
  Year 3

  	
   

  	
  $

  	
  92,228.50

  	
   

  
	
  Year 4

  	
   

  	
  $

  	
  92,228.50

  	
   

  
	
  Year 5

  	
   

  	
  $

  	
  92,228.50

  	
   

  
	
  Year 6

  	
   

  	
  $

  	
  103,295.92

  	
   

  
	
  Year 7

  	
   

  	
  $

  	
  103,295.92

  	
   

  
	
  Year 8

  	
   

  	
  $

  	
  103,295.92

  	
   

  
	
  Year 9

  	
   

  	
  $

  	
  103,295.92

  	
   

  
	
  Year 10

  	
   

  	
  $

  	
  77,471.91

  	
   

  

 

(e)                                  Monthly
Rental Installments:

 

	
  Months 1 – 6

  	
   

  	
  $

  	
  0.00

  	
   

  
	
  Months 7 – 12

  	
   

  	
  $

  	
  7,685.71

  	
   

  
	
  Months 13 – 24

  	
   

  	
  $

  	
  7,685.71

  	
   

  
	
  Months 25 – 36

  	
   

  	
  $

  	
  7,685.71

  	
   

  
	
  Months 37 – 48

  	
   

  	
  $

  	
  7,685.71

  	
   

  
	
  Months 49 – 60

  	
   

  	
  $

  	
  7,685.71

  	
   

  
	
  Months 61 – 72

  	
   

  	
  $

  	
  8,607.99

  	
   

  
	
  Months 73 – 84

  	
   

  	
  $

  	
  8,607.99

  	
   

  
	
  Months 85 – 96

  	
   

  	
  $

  	
  8,607.99

  	
   

  
	
  Months 97 – 108

  	
   

  	
  $

  	
  8,607.99

  	
   

  
	
  Months 109 – 117

  	
   

  	
  $

  	
  8,607.99

  	
   

  

 

(f)                                    Base
Year:  2005.

 

(g)                                 Commencement
Date:  December 1, 2004, subject to
possible extension pursuant to Special Stipulation 1(b) of Exhibit B to the Lease.

 

(h)                                 Lease
Term:  Nine (9) years and nine (9)
months.

 

(i)                                     Security
Deposit:  $25,823.97.

 

(j)                                     Broker(s):  Duke Realty Services Limited Partnership
representing Landlord and Carter & Associates, L.L.C. representing Tenant.

 

(k)                                  Permitted
Use:  Warehousing, research and
development of paper and pulp products and related laboratory uses, and office
and administrative uses reasonably ancillary thereto.

 

(l)                                     Address
for notices and payments are as follows:

 

 

	
  Landlord:

  	
  Duke Realty
  Limited Partnership

  
	
   

  	
  c/o Duke Realty
  Corporation

  
	
   

  	
  Attn.: Atlanta
  Market – Senior Property Manager

  
	
   

  	
  3950 Shackleford
  Road, Suite 300

  
	
   

  	
  Duluth, Georgia
  30096

  
	
   

  	
   

  
	
  With Rental
  Payments to:

  	
  Duke Realty
  Limited Partnership

  
	
   

  	
  75 Remittance
  Drive, Suite 3205

  
	
   

  	
  Chicago, IL
  60675-3205

  
	
   

  	
   

  
	
  Tenant:

  	
  Neenah Paper,
  Inc.

  
	
   

  	
  c/o General
  Counsel

  
	
   

  	
  Preston Ridge
  III, Suite 600

  
	
   

  	
  3460 Preston
  Ridge Road

  
	
   

  	
  Alpharetta,
  Georgia 30302

  
	
   

  	
   

  
	
  With a copy to:

  	
  Kimberly-Clark Corporation

  
	
   

  	
  c/o John Wesley

  
	
   

  	
  351 Phelps Drive

  
	
   

  	
  Irving, Texas
  75038

  

(provided,
however, a copy to Kimberly-Clark Corporation shall only be required for so
long as the Guaranty (as hereinafter defined) is in effect)

 

(m)                               Guarantor(s):  Kimberly-Clark Corporation.

 

	
  EXHIBITS

  	
   

  
	
  Exhibit A:

  	
  Leased Premises

  
	
  Exhibit B:

  	
  Tenant
  Improvements

  
	
  Exhibit B-1:

  	
  Preliminary
  Plans

  
	
  Exhibit B-2:

  	
  Compliance Work

  
	
  Exhibit C:

  	
  Letter of
  Understanding

  
	
  Exhibit D:

  	
  Rules and
  Regulations

  
	
  Exhibit E:

  	
  Special
  Stipulations

  
	
  Exhibit F:

  	
  Form of
  Unconditional Guaranty of Lease

  
	
  Exhibit G:

  	
  Parking Area

  

 

Section 1.02.  Lease of Leased Premises.  Landlord hereby leases to Tenant and Tenant
hereby leases from Landlord the Leased Premises, under the terms and conditions
herein, together with a non-exclusive right, in common with others, to use the
following (collectively, the “Common Areas”): the areas of the Building and the
underlying land and improvements thereto that are designed for use in common by
all tenants of the Building and their respective employees, agents, customers,
invitees and others, including the parking areas and access drives.

 

ARTICLE 2 - TERM AND POSSESSION

 

Section 2.01.  Term. 
The Commencement Date and Lease Term shall be as set forth in Sections
1.01(g) and 1.01(h) above.

 

Section 2.02.  Construction of Tenant Improvements.  Tenant shall construct and install all
leasehold improvements to the Leased Premises (collectively, the “Tenant
Improvements”) in accordance with Exhibit
B attached hereto and made a part hereof.

 

Section 2.03.  Surrender of the Leased Premises.  Upon the expiration or earlier termination of
this Lease (and except as otherwise expressly set forth in the Lease), Tenant
shall, at its sole cost and expense, immediately (a) surrender the Leased
Premises to Landlord in broom-clean condition and in good order, condition and
repair, normal wear and tear, damage by fire and other casualty excepted, (b)
remove from the Leased Premises (i) Tenant’s Property (as defined in Section 8.01
below), (ii) all phone and data wiring and cabling (including above ceiling,
below raised floors and behind walls) installed by or on behalf of Tenant or
otherwise used by Tenant, and (iii) any alterations required to be removed
pursuant to Section 7.03 below, and (c) repair any damage caused by
any such removal.  All of Tenant’s
Property that is not removed within ten (10) days following Landlord’s written
demand therefor shall be conclusively deemed to have been abandoned and
Landlord shall be entitled to dispose of such property at Tenant’s cost without
incurring any liability to Tenant. 
Notwithstanding clause (b)(ii) above, at Landlord’s option, in lieu of
removing such wiring and cabling, Tenant shall leave such wiring and

 

2

 

cabling in good and
usable condition for the next tenant’s use of the Leased Premises, legibly
tagged for future use.  This Section 2.03
shall survive the expiration or any earlier termination of this Lease.

 

Section 2.04.  Holding Over.  If Tenant retains possession of the Leased
Premises after the expiration or earlier termination of this Lease, Tenant
shall be a tenant at sufferance at one hundred fifty percent (150%) of the
Monthly Rental Installments and Additional Rent (as hereinafter defined) for
the Leased Premises in effect upon the date of such expiration or earlier
termination, and otherwise upon the terms, covenants and conditions herein
specified, so far as applicable. 
Acceptance by Landlord of rent after such expiration or earlier
termination shall not result in a renewal of this Lease, nor shall such
acceptance create a month-to-month tenancy. 
In the event a month-to-month tenancy is created by operation of law,
either party shall have the right to terminate such month-to-month tenancy upon
thirty (30) days’ prior written notice to the other, whether or not said notice
is given on the rent paying date.  This Section 2.04
shall in no way constitute a consent by Landlord to any holding over by Tenant
upon the expiration or earlier termination of this Lease, nor limit Landlord’s
remedies in such event.

 

ARTICLE 3 - RENT

 

Section 3.01.  Base Rent.  Tenant shall pay to Landlord the Minimum Annual
Rent in the Monthly Rental Installments, in advance, without demand and without
abatement, deduction or offset, except as otherwise expressly provided herein,
beginning on the Commencement Date and on or before the first day of each and
every calendar month thereafter during the Lease Term.  The Monthly Rental Installments for partial
calendar months shall be prorated based on the number of days in such month.

 

Section 3.02.  Additional Rent.

 

(a)                                  Any
amount required to be paid by Tenant hereunder (in addition to Minimum Annual
Rent) and any charges or expenses incurred by Landlord on behalf of Tenant
under the terms of this Lease shall be considered “Additional Rent” payable in
the same manner and upon the same terms and conditions as the Minimum Annual
Rent reserved hereunder except as set forth herein to the contrary.  Any failure on the part of Tenant to pay such
Additional Rent when and as the same shall become due shall entitle Landlord to
the remedies available to it for non-payment of Minimum Annual Rent.

 

(b)                                 In
addition to the Minimum Annual Rent, Tenant shall pay to Landlord for each
calendar year during the Lease Term, as Additional Rent, Tenant’s Proportionate
Share of all costs and expenses incurred by Landlord during the Lease Term for
Operating Expenses (as hereinafter defined) for the Building and Common
Areas.  Said Operating Expenses are
estimated to be $1.00 per rentable square foot for calendar year 2004.  Tenant acknowledges that said amount is only
an estimate and agrees to reimburse Landlord for the actual Operating Expenses
under the Lease in accordance with this Section 3.02(b).  Notwithstanding the foregoing, Tenant’s
Proportionate Share of Operating Expenses for the first six (6) months
following the Commencement Date shall be $0.00.

 

(c)                                  In
addition to the Minimum Annual Rent and Tenant’s share of Operating Expenses,
Tenant shall pay to Landlord for each calendar year during the Lease Term, as
Additional Rent, Tenant’s Proportionate Share of (i) any increase in Insurance
Premiums (as herein defined) over the base amount paid by Landlord in the Base
Year; and (ii) the amount by which all Real Estate Taxes (as herein defined)
for each tax year exceeds all Real Estate Taxes for the Base Year.  All Additional Rent payable by Tenant pursuant
to Section 3.02(b) above and this Section 3.02(c) shall
be referred to herein, collectively, as the “TICAM Charges”.

 

(d)                                 For
purposes of this Lease, “Operating Expenses” shall mean the amount of all of
Landlord’s costs and expenses paid or incurred in operating, repairing,
replacing and maintaining the Building and the Common Areas in good condition
and repair for a particular calendar year (including all additional costs and
expenses that Landlord reasonably determines that it would have paid or incurred
during such year if the Building had been fully occupied; provided, however,
that any such “grossing up” shall be done in accordance with generally accepted
accounting principals), including by way of illustration and not limitation,
the following: insurance deductibles; water, sewer, electrical and other
utility charges other than the separately billed electrical and other charges
paid by Tenant as provided in this Lease (or other tenants in the Building);
painting; stormwater discharge fees; tools and supplies; repair costs not
attributable to a particular tenant’s premises; landscape maintenance costs;
access patrols; license, permit and inspection fees; management fees (not to
exceed 4% of gross rent for the Building); supplies, costs, wages and related
employee benefits payable for the management, maintenance and operation of the
Building; maintenance, repair and replacement of the driveways, parking areas,
curbs and sidewalk areas (including snow and ice removal), landscaped areas,
drainage strips, sewer lines, gutters and lighting; and dues, fees and
assessments incurred under any covenants or charged by any owners
association.  The cost of any Operating
Expenses that are capital in nature shall be amortized

 

3

 

over the useful life of
the improvement (as reasonably determined by Landlord), and only the amortized
portion shall be included in Operating Expenses. 
Notwithstanding the foregoing, Operating Expenses shall not include the
following:

 

(i)                                     advertising
and promotional expenditures;

 

(ii)                                  leasing
commissions, finders’ fees, brokerage fees and similar fees, and costs incurred
with the negotiation or enforcement of leases (other than management fees);

 

(iii)                               rent
under any ground leases;

 

(iv)                              costs
of furnishing services to other tenants or occupants to the extent that such
services are materially in excess of services Landlord offers to all tenants at
Landlord’s expense;

 

(v)                                 lease
takeover costs incurred by Landlord in connection with new leases at the
Building;

 

(vi)                              costs
and expenses of the sale of all or any portion of the Building or Common Areas;

 

(vii)                           amounts
actually received by Landlord through the proceeds of insurance to the extent
the proceeds are compensation for expenses which were previously included in
Operating Expenses;

 

(viii)                        costs
incurred by Landlord with respect to repairs, goods, and services (including
utilities sold and supplied to tenants and occupants of the Building) to the
extent that Landlord is reimbursed for such costs or provides the same
selectively to one or more tenants;

 

(ix)                                costs
incurred by Landlord due to the violation by Landlord of the terms and
conditions of any lease of space in the Building, any loan documents, or ground
leases;

 

(x)                                   interest,
points and fees on debt or amortization or for any mortgage or mortgages
encumbering the Building or Common Areas, or any part thereof, and all
principal, escrow deposits and other sums paid on or in respect to any
indebtedness (whether or not secured by a mortgage lien) and on any equity
participations of any lender or lessor, and all costs incurred in connection
with any financing, refinancing or syndication of the Building or Common Areas,
or any part thereof;

 

(xi)                                depreciation
and amortization;

 

(xii)                             the costs
of the original construction of the Building;

 

(xiii)                          salaries,
fringe benefits and other compensation for personnel not directly involved in
the operation or management of the Building;

 

(xiv)                         costs and
expenses of the sale of all or a portion of the Building or Common Areas;

 

(xv)                            costs
(including permit, license, and inspection fees) for performing tenant
installations for any individual tenant or for performing work or furnishing
services to or for individual tenants at such tenant’s expense and any other
contribution by Landlord to the cost of tenant improvements and any costs or
expenses incurred in the procurement of tenants for the Building;

 

(xvi)                         costs
incurred by Landlord in discharging its obligations under the Lease that
expressly are to be discharged at Landlord’s sole cost and expense;

 

(xvii)                      costs
incurred in operation of any private club, now or in the future, located within
the Park and expenses incurred by Landlord, if any, in connection with the
operation, cleaning, repair, safety, management security, maintenance or other
services of any kind provided in any portions of the Buildings that are leased
or designed to be used for retail, garage or third-party storage purposes;

 

(xviii)                   costs incurred
for repairs or maintenance that are covered by warranties, guarantees or
service contracts or condemnation proceeds to the extent that Landlord is
actually reimbursed under such warranties, guaranties, service contracts, or
condemnation proceeds;

 

4

 

(xix)                           except for making repairs or keeping permanent
systems in operation while repairs are being made, rentals and other related
expenses incurred in leasing equipment ordinarily considered to be of a capital
nature, except equipment not affixed to the Building that is used in providing
janitorial or similar services;

 

(xx)                              repairs, alterations, and general
maintenance necessitated by the negligence or willful misconduct of Landlord
not otherwise waived by Tenant pursuant to Section 8.06 below or any
other provision of this Lease; and

 

(xxi)                           costs
to replace (but not maintain and repair) the truck court or parking area for
the Building.

 

(e)           For
purposes of this Lease, “Real Estate Taxes” shall include any form of real
estate tax or assessment or service payments in lieu thereof, and any license
fee, commercial rental tax, improvement bond or other similar charge or tax
(other than inheritance, personal income or estate taxes) imposed upon the
Building or the Common Areas (or against Landlord’s business of leasing the
Building) by any authority having the power to so charge or tax, together with
reasonable costs and expenses of contesting the validity or amount of Real
Estate Taxes.  Notwithstanding anything
herein to the contrary, Real Estate Taxes shall not include income, franchise,
transfer, inheritance, capital stock, estate, profit, gift, gross receipts or
succession taxes.  Additionally, Tenant
shall pay, prior to delinquency, all taxes assessed against and levied upon
trade fixtures, furnishings, equipment and all personal property of Tenant
contained in the Leased Premises.

 

(f)                                    For
purposes of this Lease, “Insurance Premiums” shall include insurance premiums
for insurance coverage on the Building or Common Areas and shall include all
fire and extended coverage insurance on the Building and all liability
insurance coverage on the Common Areas of the Building, and the grounds,
sidewalks, driveways and parking areas related thereto, together with such
other insurance coverages, including, but not limited to, rent interruption
insurance, as are from time to time obtained by Landlord.

 

Section 3.03.  Payment of Additional Rent.

 

(a)                                  Landlord
shall estimate the total amount of Additional Rent to be paid by Tenant during
each calendar year of the Lease Term, pro-rated for any partial years.  Commencing on the Commencement Date, Tenant
shall pay to Landlord each month, at the same time the Monthly Rental
Installments are due, an amount equal to one-twelfth (1/12th) of the
estimated Additional Rent for such year. 
Within a reasonable time after the end of each calendar year, but in no
event later than one hundred twenty (120) days following the end of such
calendar year, Landlord shall submit to Tenant a statement (the “Statement”) of
the actual amount of such Additional Rent, which statement shall contain a
reasonable breakdown of the Additional Rent by categories of expense, and
within thirty (30) days after receipt of such statement, Tenant shall pay any
deficiency between the actual amount owed and the estimates paid during such
calendar year.  In the event of
overpayment, Landlord shall credit the amount of such overpayment toward the
next installments of Minimum Annual Rent.

 

(b)                                 Within
thirty (30) days following Tenant’s receipt of the Statement and provided that
Tenant is not then in default of this Lease, Tenant may contest the Statement
by providing written notice thereof (the “Contest Notice”) to Landlord;
provided, however, that Tenant shall be required to pay all Additional Rent
during the period of such contest.  If
Tenant timely contests the Statement, Tenant shall have the right to inspect
and examine, at reasonable times during normal business hours, Landlord’s books
of account and records pertaining to the Operating Expenses, Real Estate Taxes
and Insurance Premiums, all at Tenant’s sole cost and expense subject to
reimbursement by Landlord as set forth below. 
Such inspection shall be conducted at Landlord’s offices where such
records are kept within thirty (30) days after the date of Tenant’s delivery of
the Contest Notice or at such other time as agreed in writing by both
parties.  Such inspection shall be
conducted by a certified public accountant retained by Tenant, at its expense,
subject to reimbursement by Landlord as set forth below.  Landlord and/or Landlord’s Building manager
shall cooperate reasonably with Tenant and/or Tenant’s representatives with
respect to any such specific inquiries or questions and with respect to the
conduct of such inspection.  Tenant shall
notify Landlord of the results of such inspection in writing.  Landlord may have an agent or employee
present during such inspection.  If
Landlord and Tenant agree that Landlord’s calculation of Tenant’s Proportionate
Share of Operating Expenses, Real Estate Taxes and Insurance Premiums for the
inspected calendar year was incorrect, the parties shall enter into a written
agreement confirming such error and then, and only then, Tenant shall be
entitled to a credit against future Minimum Annual Rent for said overpayment
(or a refund of any overpayment if the Lease Term has expired) or Tenant shall
pay to Landlord the amount of any underpayment, as the case may be.

 

5

 

(c)                                  If,
following Tenant’s inspection of Landlord’s books of account and records
pursuant to subsection (b) above, Landlord and Tenant fail to agree on
Landlord’s calculation of Tenant’s Proportionate Share of Operating Expenses,
Real Estate Taxes, and Insurance Premiums, Landlord and Tenant shall use good
faith efforts to try to resolve the issue. 
Notwithstanding the foregoing, however, if Landlord and Tenant fail to
resolve the issue within thirty (30) days following such inspection by Tenant,
either party may, by delivery of written notice to the other party (the “Operating
Expenses Arbitration Notice”), elect to resolve the issue through
arbitration.  If either party delivers an
Operating Expenses Arbitration Notice, then each of Landlord and Tenant shall,
within ten (10) days thereafter, select an arbitrator to resolve the
issue.  Each arbitrator so selected shall
be an accountant, unaffiliated with Landlord or Tenant, specializing in real
estate matters, with at least ten years prior experience in the metropolitan
area in which the Leased Premises are located and with a working knowledge of
current operating expense pass-through practices.  Upon selection, the parties’ arbitrators
shall work together in good faith to resolve the issue.  The determination of such arbitrators shall
be binding on both Landlord and Tenant. 
If the two arbitrators cannot agree within twenty (20) days after their
appointment, then, within ten (10) days after the expiration of such twenty
(20) day period, the two arbitrators shall select a third arbitrator meeting
the above criteria.  Once the third
arbitrator has been selected as provided for above, then such third arbitrator
shall within ten (10) days after appointment make its determination of which of
the arbitrators’ two determinations is correct, and such determination shall be
binding on both Landlord and Tenant, thereby establishing the Additional Rent
for the applicable calendar year. 
Following such determination by the arbitrators, Tenant shall be
entitled to a credit against future Monthly Rental Installment(s) for said
overpayment (or a refund of any overpayment if the Lease Term has expired) or
Tenant shall pay to Landlord the amount of any underpayment, as the case may
be.  Each party shall pay for its own
arbitrator and shall share equally in the costs of the third arbitrator, if
applicable.

 

(d)                                 If
Tenant’s inspection proves that Landlord’s calculation of Tenant’s
Proportionate Share of Operating Expenses, Real Estate Taxes and Insurance
Premiums for the inspected calendar year resulted in an overpayment by more
than five percent (5%) of Tenant’s share, Landlord shall also pay the
reasonable fees and expenses of Tenant’s independent professionals, if any,
conducting said inspection.  All of the
information obtained through Tenant’s inspection with respect to financial
matters (including, without limitation, costs, expenses and income) and any
other matters pertaining to Landlord, the Leased Premises, the Building and/or
the Park as well as any compromise, settlement or adjustment reached between
Landlord and Tenant relative to the results of the inspection shall be held in
strict confidence by Tenant and its officers, agents, and employees; and Tenant
shall cause its independent professionals to be similarly bound.  The obligations within the preceding sentence
shall survive the expiration or earlier termination of the Lease

 

Section 3.04.  Late Charges.  Tenant acknowledges that Landlord shall incur
certain additional unanticipated administrative and legal costs and expenses if
Tenant fails to pay timely any payment required hereunder.  Therefore, in addition to the other remedies
available to Landlord hereunder, if any payment required to be paid by Tenant
to Landlord hereunder shall become overdue, such unpaid amount shall bear
interest from the due date thereof to the date of payment at the prime rate of
interest, as reported in the Wall Street Journal (the “Prime Rate”) plus six
percent (6%) per annum; provided, however, that in no event shall such interest
rate exceed twelve percent (12%) per annum.

 

ARTICLE 4 - SECURITY DEPOSIT

 

Section 4.01.  Security Deposit.  On or before the date that Tenant delivers
the Closing Notice, as defined in Special Stipulation 12 of Exhibit E
hereto, , Tenant shall deposit the Security Deposit with Landlord as security
for the performance by Tenant of all of Tenant’s obligations contained in this
Lease.  In the event of a default by
Tenant, Landlord may apply all or any part of the Security Deposit to cure all
or any part of such default; provided, however, that any such application by
Landlord shall not be or be deemed to be an election of remedies by Landlord or
considered or deemed to be liquidated damages. 
Tenant agrees promptly, upon demand, to deposit such additional sum with
Landlord as may be required to maintain the full amount of the Security
Deposit.  All sums held by Landlord
pursuant to this Article 4 shall be without interest and may be
commingled by Landlord.  At the end of
the Lease Term (including, without limitation, due to a termination of the
Lease pursuant to Special Stipulation 11 of Exhibit E to the Lease),
provided that there is then no uncured default or any repairs required to be
made by Tenant pursuant to Section 2.03 above or Section 7.03
below, Landlord shall return the Security Deposit to Tenant.

 

Section 4.02.  Reduction.  The Security Deposit shall be reduced to
$0.00 at the end of the twenty-fourth (24th) full calendar month of
the Lease Term provided that (a) Tenant is not in default hereunder (or, if
Tenant is in default hereunder, Tenant cures such default within the applicable
cure period), (b) Landlord has not theretofore drawn on the Security Deposit,
and (c) Tenant’s tangible net

 

6

 

worth is at least
$10,000,000.00.  In the event the
Security Deposit is so reduced, Landlord shall apply the Security Deposit
toward the next Monthly Rental Installments due under the Lease.  For all purposes under this Lease, “tangible
net worth” shall mean the value of tangible assets (i.e., assets excluding
those which are intangibles such as goodwill, patents and trademarks) over
liabilities.

 

ARTICLE 5 - USE

 

Section 5.01.  Use. 
Tenant shall use the Leased Premises for the Permitted Use and for no
other purpose without the prior written consent of Landlord.

 

Section 5.02.  Covenants of Tenant Regarding Use.

 

(a)                                  Tenant
shall (i) use and maintain the Leased Premises and conduct its business thereon
in a safe, careful, reputable and lawful manner, (ii) comply with all laws,
rules, regulations, orders, ordinances, directions and requirements of any
governmental authority or agency, now in force or which may hereafter be in
force, including, without limitation, those which shall impose upon Landlord or
Tenant any duty with respect to or triggered by a change in the use or
occupation of, or any improvement or alteration to, the Leased Premises, (iii)
comply with all covenants that encumber the Building which are in effect as of
the date hereof and with respect to which Tenant has been given notice, (iv)
comply with any commercially reasonable covenants applicable to the Building as
may hereafter be adopted and promulgated (provided such protective covenants do
not materially and adversely interfere with the Permitted Use), and (v) comply
with and obey all commercially reasonable directions, rules and regulations of
Landlord, provided the same are uniformly enforced and applied in a non
discriminatory manner, and provided the same do not materially and adversely
effect Tenant’s use of the Leased Premises for the Permitted Use.

 

(b)                                 Tenant
shall not do or permit anything to be done in or about the Leased Premises that
will in any way cause a nuisance, obstruct or interfere with the rights of
other tenants or occupants of the Building or injure or annoy them.  Landlord shall not be responsible to Tenant
for the non-performance by any other tenant or occupant of the Building of any
of Landlord’s directions, rules and regulations, but agrees that any
enforcement thereof shall be done uniformly. 
Tenant shall not use the Leased Premises, nor allow the Leased Premises
to be used, for any purpose or in any manner that would (i) invalidate any
policy of insurance now or hereafter carried by Landlord on the Building, or
(ii) increase the rate of premiums payable on any such insurance policy unless
Tenant reimburses Landlord for any increase in premium charged.

 

(c)                                  Tenant
shall not overload the floors of the Leased Premises.  All damage to the floor structure or
foundation of the Building due to improper positioning or storage of items or
materials shall be repaired by Landlord at the sole expense of Tenant, who
shall reimburse Landlord immediately therefor upon demand.

 

Section 5.03.  Landlord’s Rights Regarding Use.  Without limiting any of Landlord’s rights
specified elsewhere in this Lease (a) Landlord shall have the right at any
time, without notice to Tenant, to control, change or otherwise alter the
Common Areas in such manner as it deems necessary or proper so long as any such
control, change or alteration does not materially and adversely affect Tenant’s
use of the Leased Premises for the Permitted Use, and (b) Landlord, its agents,
employees and contractors and any mortgagee of the Building shall have the
right to enter any part of the Leased Premises at reasonable times upon
reasonable advance written notice (except in the event of an emergency where no
notice shall be required) and accompanied by a representative of Tenant
(provided one is made available to Landlord) for the purposes of examining or
inspecting the same (including, without limitation, testing to confirm Tenant’s
compliance with this Lease), showing the same to prospective purchasers,
mortgagees or tenants, and making such repairs, alterations or improvements to
the Leased Premises or the Building as Landlord may deem necessary or desirable
so long as any such alteration or improvements do not materially and adversely
affect Tenant’s use of the Leased Premises for the Permitted Use.  Landlord covenants and agrees that in
exercising any of its rights under this Section 5.03, Landlord shall
use reasonable efforts to minimize any interference with Tenant’s use of the
Leased Premises for the Permitted Use. 
Without limiting the foregoing, Landlord shall incur no liability to
Tenant for such entry, nor shall such entry constitute an eviction of Tenant or
a termination of this Lease, or entitle Tenant to any abatement of rent
therefor; provided, however, if, as a result of Landlord’s negligence or
willful misconduct in exercising its rights pursuant to this Section 5.03,
the Leased Premises (or portion thereof) is untenantable for a period of more
than six (6) consecutive business days, Minimum Annual Rent and the TICAM
Charges shall abate for each such consecutive day after said six (6) business
day period that such area of the Leased Premises is so rendered until such area
is no longer untenantable.  To the extent
that the Leased Premises, or portion thereof, is untenantable, however, as a
result of (a) force majeure (as defined in Section 16.03 hereof),
or (b) the negligence or willful misconduct of Tenant, its agents,

 

7

 

employees, contractors,
subtenants, invitees or assignees, Tenant shall not be entitled to any
abatement hereunder.  The Leased Premises
shall be considered untenantable to the extent that Tenant does not use the
Leased Premises or portion thereof affected in the conduct of its normal
business operations as a result of Landlord’s activities.  It is agreed and understood that Tenant shall
not use nor be entitled to use the portion of the Leased Premises during any
day for which Landlord is obligated to abate Minimum Annual Rent hereunder.

 

ARTICLE 6 - UTILITIES AND SERVICES

 

Tenant shall obtain in
its own name and pay directly to the appropriate supplier the cost of all
utilities and services serving the Leased Premises.  However, if any services or utilities are
jointly metered with other property, Landlord shall make a reasonable
determination of Tenant’s proportionate share of the cost of such utilities and
services (at rates that would have been payable if such utilities and services
had been directly billed by the utilities or services providers) and Tenant
shall pay such share to Landlord within fifteen (15) days after receipt of
Landlord’s written statement.  Landlord
shall not be liable in damages or otherwise for any failure or interruption of
any utility or other Building service and no such failure or interruption shall
entitle Tenant to terminate this Lease or withhold sums due hereunder.  Notwithstanding the foregoing, to the extent
that (a) such interruption of service is caused by the negligence or willful
misconduct of Landlord or its employees and (b) such interruption of service
renders the Leased Premises or any portion of the Leased Premises untenantable
for a period of six (6) consecutive business days after Landlord receives
written notice from Tenant of such interruption of service, Minimum Annual Rent
and the TICAM Charges shall abate with respect to the area which is affected
for each such consecutive day after said six (6) business day period that such
area of the Leased Premises is so rendered until such service is restored.  The rent abatement shall equal the Monthly
Rental Installment due for the period of the interruption with respect to the
square footage affected.  Provided,
however, to the extent that such interruption is caused or continues as a
result of (i) force majeure (as defined in Section 16.03 hereof),
or (ii) the negligence or willful misconduct of Tenant, its agents, employees,
contractors, subtenants, invitees or assignees, Tenant shall not be entitled to
any abatement hereunder.  The Leased
Premises shall be considered untenantable if Tenant does not use the Leased
Premises or portion thereof affected in the conduct of its normal business operations
as a result of said interruption of service to the Leased Premises.  It is agreed and understood that Tenant shall
not use nor be entitled to use the Leased Premises or portion thereof affected
to conduct its normal business operations during any day for which Landlord is
obligated to abate rent hereunder.  The
abatement herein provided shall be Tenant’s sole and exclusive remedy for
interruption of service.  Landlord agrees
to use its reasonable efforts to restore such utility service as soon as possible.  If, however, such interruption of service
renders the Leased Premises or any material portion of the Leased Premises
untenantable for a period of greater than twenty (20) consecutive business days
after Landlord receives written notice from Tenant of such interruption of
service, Landlord, upon the request of Tenant, shall use reasonable efforts to
provide Tenant with temporary space from which to operate at a rental rate to
be agreed upon at that time; provided, however, that such rental rate shall not
be in excess of the Minimum Annual Rent that would have been payable hereunder
absent such interruption in service. 
Notwithstanding anything herein to the contrary, Landlord acknowledges
that Tenant shall be permitted (subject to Section 7.03 below) to
upgrade the transformer and or install a new transformer at the Leased
Premises, which shall become the property of Landlord upon installation.  If, however, Tenant installs an additional
new and specialized transformer at the Leased Premises, then, notwithstanding
anything to the contrary set forth in Section 7.03 below such
transformer shall be deemed Tenant’s Property (as defined in Section 8.01
below).

 

ARTICLE 7 - MAINTENANCE AND REPAIRS

 

Section 7.01.  Repair and Maintenance of the Building.  During the Lease Term, Landlord shall
maintain in good condition and repair the parking (including the truck court
and car parking areas), sidewalks, and landscaped areas, the costs of which
shall be included in Operating Expenses to the extent provided in Section 3.02
above; provided, however, that to the extent any of the foregoing items require
repair because of the negligence, misuse, or default of Tenant, its employees,
agents, customers or invitees, Landlord shall make such repairs solely at
Tenant’s expense.  In addition, during
the Lease Term, Landlord shall maintain in good condition and repair, at its
sole cost and expense (and not included in Operating Expenses), the roof,
foundation, exterior walls and structural frame of the Building; provided,
however, that to the extent any of the foregoing items require repair because
of the negligence, misuse or default of Tenant, its employees, agents,
customers or invitees, Landlord shall make such repairs solely at Tenant’s
expense.

 

Section 7.02.  Repair and Maintenance of Leased Premises.  Except for Landlord’s maintenance and repair
obligations set forth in Section 7.01 above, Tenant shall, at its
own cost and expense, maintain the Leased Premises in good condition, regularly
servicing and promptly making all repairs and replacements thereto, including
but not limited to the electrical systems (to the extent exclusively serving

 

8

 

the Leased Premises),
heating and air conditioning systems (to the extent exclusively serving the
Leased Premises), plate glass, floors, windows and doors, and sprinkler and
plumbing systems (to the extent exclusively serving the Leased Premises).  Tenant shall obtain a preventive maintenance
contract on the heating, ventilating and air-conditioning systems, and provide
Landlord with a copy thereof.  The
preventive maintenance contract shall meet or exceed Landlord’s standard
maintenance criteria, and shall provide for the inspection and maintenance of
the heating, ventilating and air conditioning system on not less than a
semi-annual basis.

 

Section 7.03.  Alterations.  Tenant shall not permit alterations in or to
the Leased Premises unless and until Landlord has approved the plans therefor
in writing; provided, however, that Tenant shall have the right to make
alterations to the Leased Premises without obtaining Landlord’s prior written
consent provided that (a) such alterations do not exceed Ten Thousand Dollars
($10,000.00) in cost in any one instance and Fifty Thousand Dollars ($50,000.00)
in cost in the aggregate during the Lease Term; (b) such alterations are
non-structural in nature; and (c) Tenant provides Landlord with prior written
notice of its intention to make such alterations stating in reasonable detail
the nature, extent and estimated cost of such alterations together with the
plans and specifications for the same. 
As a condition of such approval, Landlord may require Tenant to remove
the alterations and restore the Leased Premises upon termination of this Lease;
otherwise, all such alterations shall at Landlord’s option become a part of the
realty and the property of Landlord, and shall not be removed by Tenant.  Tenant shall ensure that all alterations made
by or on behalf of Tenant shall be made in accordance with all applicable laws,
regulations and building codes, in a good and workmanlike manner and of quality
equal to or better than the original construction of the Building.  No person shall be entitled to any lien
derived through or under Tenant for any labor or material furnished to the
Leased Premises, and nothing in this Lease shall be construed to constitute
Landlord’s consent to the creation of any lien. 
If any lien is filed against the Leased Premises for work claimed to
have been done for or material claimed to have been furnished to Tenant, Tenant
shall cause such lien to be discharged of record within thirty (30) days after
Tenant’s notice or actual knowledge of its filing.  Tenant shall indemnify Landlord from all
costs, losses, expenses and attorneys’ fees in connection with any liens
related to any construction or alteration performed by or on behalf of
Tenant.  Notwithstanding anything
contained herein to the contrary, Tenant shall have no obligation hereunder to
(x) remove any alterations or improvements which have been made by Tenant with
the express written consent of Landlord, and/or (y) restore any part of the
Leased Premises that has been altered due to the installation of such
alterations or improvements, unless, at the time of granting such consent, Landlord
has expressly required (i) the removal of any such proposed alterations or
improvements, and/or (ii) the restoration of any part of the Leased Premises,
as a condition to granting such consent.

 

ARTICLE 8 - INDEMNITY AND INSURANCE

 

Section 8.01.  Release.  All of Tenant’s trade fixtures, merchandise,
inventory and all other personal property in or about the Leased Premises, the
Building or the Common Areas, which is deemed to include the trade fixtures,
merchandise, inventory and personal property of others located in or about the
Leased Premises or Common Areas at the invitation, direction or acquiescence
(express or implied) of Tenant (all of which property shall be referred to
herein, collectively, as “Tenant’s Property”), shall be and remain at Tenant’s
sole risk.  Landlord shall not be liable
to Tenant or to any other person for, and Tenant hereby releases Landlord from
(a) any and all liability for theft or damage to Tenant’s Property, and (b) any
and all liability for any injury to Tenant or its employees, agents,
contractors, guests and invitees in the Leased Premises, except to the extent
of personal injury (but not property loss or damage) caused directly by the
negligence or willful misconduct of Landlord, its agents, employees or contractors.  Nothing contained in this Section 8.01
shall limit (or be deemed to limit) the waivers contained in Section 8.06
below.  In the event of any conflict
between the provisions of Section 8.06 below and this Section 8.01,
the provisions of Section 8.06 shall prevail.  This Section 8.01 shall survive
the expiration or earlier termination of this Lease.

 

Section 8.02.  Indemnification by Tenant.  Tenant shall protect, defend, indemnify and
hold Landlord, its agents, employees and contractors harmless from and against
any and all claims, damages, demands, penalties, costs, liabilities, losses,
and expenses (including reasonable attorneys’ fees and expenses actually
incurred, without regard to statutory interpretation) to the extent (a) arising
out of or relating to any act, omission, negligence, or willful misconduct of
Tenant or Tenant’s agents, employees, contractors, customers or invitees in or
about the Leased Premises, the Building or the Common Areas, or (b) arising out
of any other act or occurrence within the Leased Premises, in all such cases
except to the extent of personal injury (but not property loss or damage)
caused directly by Landlord, its agents, employees or contractors.  Nothing contained in this Section 8.02
shall limit (or be deemed to limit) the waivers contained in Section 8.06
below.  In the event of any conflict
between the provisions of Section 8.06 below and this Section 8.02,
the provisions of Section 8.06 shall prevail.  This Section 8.02 shall survive
the expiration or earlier termination of this Lease.

 

9

 

Section 8.03.  Indemnification by Landlord.  Landlord shall protect, defend, indemnify and
hold Tenant, its agents, employees and contractors harmless from and against
any and all claims, damages, demands, penalties, costs, liabilities, losses and
expenses (including reasonable attorneys’ fees and expenses actually incurred,
without regard to statutory interpretation) to the extent arising out of or
relating to any act, omission, negligence or willful misconduct of Landlord or
Landlord’s agents, employees or contractors. 
Nothing contained in this Section 8.03 shall limit (or be
deemed to limit) the waivers contained in Section 8.06 below.  In the event of any conflict between the provisions
of Section 8.06 below and this Section 8.03, the
provisions of Section 8.06 shall prevail.  This Section 8.03 shall survive
the expiration or earlier termination of this Lease.

 

Section 8.04.  Tenant’s Insurance.

 

(a)                                  During
the Lease Term (and any period of early entry or occupancy or holding over by
Tenant, if applicable), Tenant shall maintain the following types of insurance,
in the amounts specified below:

 

(i)                                     Liability
Insurance.  Commercial General
Liability Insurance (which insurance shall not exclude blanket contractual
liability, broad form property damage, personal injury, or fire damage
coverage) covering the Leased Premises and Tenant’s use thereof against claims
for bodily injury or death and property damage, which insurance shall provide
coverage on an occurrence basis with a combined single limit of not less than
$3,000,000 per occurrence, and with general aggregate limits of not less than
$5,000,000 for each policy year, which limits may be satisfied by any
combination of primary and excess or umbrella per occurrence policies.

 

(ii)                                  Casualty
Insurance.  Special Form Insurance
(which insurance shall not exclude flood or earthquake) in the amount of the
full replacement cost of Tenant’s Property and betterments (including
alterations or additions performed by Tenant pursuant hereto, but excluding
those improvements, if any, made pursuant to Section 2.02 above),
which insurance shall include a provision waiving coinsurance limitations.

 

(iii)                               Worker’s
Compensation Insurance.  Worker’s
Compensation insurance in amounts required by applicable law.

 

(b)                                 All
insurance required by Tenant hereunder shall (i) be issued by one or more
insurance companies reasonably acceptable to Landlord, licensed to do business
in the State in which the Leased Premises is located and having an AM Best’s
rating of A IX or better, and (ii) provide that said insurance shall not be
materially changed, canceled or permitted to lapse on less than thirty (30)
days’ prior written notice to Landlord. 
In addition, Tenant’s insurance shall protect Tenant and Landlord as
their interests may appear, naming Landlord, Landlord’s managing agent, and any
mortgagee requested by Landlord, as additional insureds under its commercial
general liability policies.  On or before
the Commencement Date (or the date of any earlier entry or occupancy by
Tenant), and thereafter, within thirty (30) days prior to the expiration of
each such policy, Tenant shall furnish Landlord with certificates of insurance
in the form of ACORD 28 (or such other evidence of insurance reasonably
acceptable to Landlord), evidencing all required coverages, together with a
copy of the endorsements to Tenant’s commercial general liability policies
naming the appropriate additional insureds. 
Upon Tenant’s receipt of a request from Landlord, Tenant shall provide
Landlord with an opportunity to review all insurance policies, including all
endorsements, evidencing the coverages required hereunder.  If Tenant fails to carry such insurance and
furnish Landlord with such certificates of insurance or copies of insurance
policies (if applicable), Landlord may, upon ten (10) days’ notice and
opportunity to cure, obtain such insurance on Tenant’s behalf and Tenant shall
reimburse Landlord upon demand for the cost thereof as Additional Rent.  If Tenant elects not to carry business
interruption insurance, Tenant releases Landlord from any and all liability
arising during the Lease Term which would have been covered by business
interruption insurance had Tenant carried such insurance.  Tenant shall be permitted to satisfy any
insurance requirements contained herein via a blanket policy of insurance.

 

(c)                                  Notwithstanding
anything to the contrary contained herein, Neenah Paper, Inc. (“Neenah Paper”)
may maintain deductibles or other forms of non-insurance similar to other
commercial companies with similar financial resources with respect to the
policies of insurance provided for in this Section 8.04 provided
that (i) Neenah Paper has in effect a program of “self insurance” insuring
Neenah Paper as a named insured against such risk, which program complies with
any and all applicable laws regarding self insurance in the State of Georgia,
(ii) the tangible net worth of Neenah Paper shall be at least $30,000,000.00,
(iii) Neenah Paper agrees upon Landlord’s request to provide Landlord with
financial information reasonably sufficient to allow Landlord to evaluate
Neenah Paper’s tangible net worth and ability to meet the insurance criteria
set forth in this Section 8.04 of the Lease, (iv) Neenah Paper
agrees

 

10

 

to indemnify and hold
harmless Landlord from and against any loss, cost, damage, expense (including
reasonable attorneys’ fees and court costs actually incurred without regard to
statutory interpretation), claim, cause of action or liability that Landlord
may incur that would have been covered by the insurance policies replaced by
the self insurance, but only to the extent that Tenant would have been
responsible for such loss, cost, damage, expense, claim, cause of action or
liability under this Lease (Landlord and Tenant acknowledging and agreeing that
the indemnity contained in this subsection (iv) is not intended to expand
the obligations of Tenant under the Lease beyond those that would exist if
Tenant carried the required insurance), (v) such self insurance shall not
affect the non-liability of Landlord described in this Lease, and (vi)
Landlord, Landlord’s managing agent and any mortgagee of which Tenant has been
given notice appear as additional covered parties on the Certificate of
Coverage for liability under Tenant’s self insurance program for an amount
consistent with the requirements set forth in this Section 8.04.  By means of the insurance certificate
described above, Neenah Paper shall deliver to Landlord notice in writing of
the required coverages which it is self insuring setting forth the amount,
limits and scope of the self insurance with respect to each type of coverage
self insured.  This provision is personal
to Neenah Paper and shall automatically terminate if Neenah Paper assigns or
sublets all or any portion of its interest in this Lease other than to a
Permitted Transferee.

 

Section 8.05.  Landlord’s Insurance.  During the Lease Term, Landlord shall
maintain the following types of insurance, in the amounts specified below (the
cost of which shall be included in Operating Expenses to the extent permitted
in Article 3 above):

 

(a)                                  Liability
Insurance.  Commercial General
Liability Insurance (which insurance shall not exclude blanket, contractual
liability, broad form property damage, personal injury, or fire damage
coverage) covering the Building and Common Areas against claims for bodily
injury or death and property damage, which insurance shall provide coverage on
an occurrence basis with a combined single limit of not less than $3,000,000
per occurrence, and with general aggregate limits of not less than $10,000,000
for each policy year, which limits may be satisfied by any combination of
primary and excess or umbrella per occurrence policies.

 

(b)                                 Casualty
Insurance.  Special Form Insurance
(which insurance shall not exclude flood or earthquake) in the amount of the
full replacement cost of the Building, including, without limitation, any
improvements, if any, made pursuant to Section 2.02 above, but
excluding Tenant’s Property and any other items required to be insured by
Tenant pursuant to Section 8.04 above.

 

Section 8.06.  Waiver of Subrogation.  Notwithstanding anything contained in this
Lease to the contrary, Landlord and Tenant hereby waive any rights each may
have against the other on account of any loss of or damage to their respective
property, the Leased Premises, its contents, or other portions of the Building
or Common Areas arising from any risk which is required to be insured against
by Sections 8.04(a)(ii) and 8.05(b) above, or which is actually
insured against under any other casualty insurance held by such party at such
time.  The special form coverage
insurance policies maintained by Landlord and Tenant as provided in this Lease
shall include an endorsement containing an express waiver of any rights of
subrogation by the insurance company against Landlord and Tenant, as
applicable.  Any deductible amounts shall
be deemed amounts covered by insurance for purposes of this Section 8.06.

 

ARTICLE 9 - CASUALTY

 

In the
event of total or partial destruction of the Building, the Leased Premises, or
the Common Areas by fire or other casualty, Landlord agrees promptly to restore
and repair same; provided, however, Landlord’s obligation hereunder with
respect to the Leased Premises shall not include Tenant’s Property.  Rent shall proportionately abate during the
time that the Leased Premises or part thereof are unusable because of any such
damage.  Notwithstanding the foregoing,
if the Landlord determines that Building or the Leased Premises are (a) so
destroyed that they cannot be repaired or rebuilt within one hundred eighty
(180) days from the casualty date (or, within ninety (90) days from the
casualty date, if the damage or destruction occurs during the final twelve (12)
months of the Lease Term); or (b) destroyed by a casualty that is not covered
by the insurance required hereunder or, if covered, such insurance proceeds are
not released by any mortgagee entitled thereto or are insufficient to rebuild
the Building and the Leased Premises, then Landlord shall give written notice
to Tenant of such determination (the “Casualty Notice”) within sixty (60) days
of such casualty.  Either Landlord or
Tenant may terminate this Lease by giving written notice (the “Termination
Notice”) to the other party within thirty (30) days after Tenant’s receipt of
the Casualty Notice.  In the event this
Lease is terminated pursuant to the preceding sentence, such termination shall
be effective as of the forty-fifth (45th) day following a party’s
delivery of the Termination Notice. 
During any time period of construction following a casualty, Landlord
shall use reasonable efforts to provide Tenant with temporary space from which
to operate at a rental rate to be agreed upon at that time.  If the Lease is not terminated pursuant to
the provisions above and Landlord fails to substantially complete the
restoration and repair of the Leased Premises within three hundred

 

11

 

sixty-five (365) days
after the date of the casualty (as such period may be extended due to force
majeure, as defined in Section 16.03 below, and any delay caused by
Tenant’s acts or omissions), then Tenant shall have the right to terminate this
Lease upon written notice to Landlord, so long as Tenant’s written notice is
received by Landlord prior to Landlord’s substantial completion of such
restoration and repair.

 

ARTICLE 10 - EMINENT DOMAIN

 

If all
or any substantial part of the Building or Common Areas (including access
thereto) shall be acquired by the exercise of eminent domain, Landlord may
terminate this Lease by giving written notice to Tenant on or before the date
possession thereof is so taken.  If all
or any part of the Leased Premises, the Building or the Common Areas shall be
acquired by the exercise of eminent domain so that the Leased Premises shall
become impractical for Tenant to use for the Permitted Use, Tenant may
terminate this Lease by giving written notice to Landlord on or before the date
possession thereof is so taken.  If this
Lease is terminated pursuant to this Article 10, to the extent possible,
the effective date of termination shall be the forty-fifth (45th)
day following a party’s delivery of notice of termination.  All damages awarded shall belong to Landlord;
provided, however, that Tenant may claim dislocation damages if such amount is
not subtracted from Landlord’s award.  If
only part of the Leased Premises is acquired by the exercise of eminent domain
and this Lease does not terminate pursuant to this Article 10, Landlord
shall, to the extent of the award it receives, restore the Leased Premises and
the Common Areas to a condition and to a size as nearly comparable as
reasonably possible to the condition and size thereof immediately prior to the
taking, and there shall be an equitable adjustment to the Minimum Annual Rent
and Additional Rent based on the actual loss of use of the Leased Premises
suffered by Tenant from the taking.

 

ARTICLE 11 - ASSIGNMENT AND SUBLEASE

 

Section 11.01.  Assignment and Sublease.

 

(a)                                  Tenant
shall not assign this Lease or sublet the Leased Premises in whole or in part
without Landlord’s prior written consent. 
In the event of any permitted assignment or subletting, Tenant shall
remain primarily liable hereunder, and any extension, expansion, rights of
first offer, rights of first refusal or other options granted to Tenant under
this Lease shall be rendered void and of no further force or effect unless the
parties otherwise agree at such time. 
The acceptance of rent from any other person shall not be deemed to be a
waiver of any of the provisions of this Lease or to be a consent to the
assignment of this Lease or the subletting of the Leased Premises.  Any assignment or sublease consented to by
Landlord shall not relieve Tenant (or its assignee) from obtaining Landlord’s
consent to any subsequent assignment or sublease.

 

(b)                                 By
way of example and not limitation, Landlord shall be deemed to have reasonably
withheld consent to a proposed assignment or sublease if in Landlord’s
reasonable opinion (i) the business reputation of the proposed assignee or
subtenant is unacceptable; (ii) the financial worth of the proposed assignee or
subtenant is insufficient to meet the obligations hereunder, or (iii) the
prospective assignee or subtenant is a current tenant at the Park or is a
bona-fide third-party prospective tenant and Landlord has space available
within the Park to meet such tenant’s or prospective tenant’s needs.  Landlord further expressly reserves the right
to refuse to give its consent to any subletting if the proposed rent is
publicly advertised to be less than the then current rent for similar premises
in the Building.  If Landlord refuses to
give its consent to any proposed assignment or subletting, Landlord may, at its
option, within thirty (30) days after receiving a request to consent, terminate
this Lease by giving Tenant thirty (30) days prior written notice of such
termination, whereupon each party shall be released from all further
obligations and liability hereunder, except those which expressly survive the
termination of this Lease. 
Notwithstanding the foregoing, in the event Landlord elects to terminate
this Lease pursuant to the immediately preceding sentence, Tenant shall have
the right to withdraw its assignment or sublet request within two (2) business
days after receipt of Landlord’s termination notice, whereupon Landlord’s
termination shall be ineffective and this Lease shall continue in full force
and effect.

 

(c)                                  If
Tenant shall make any assignment or sublease, with Landlord’s consent, for a
rental in excess of the rent payable under this Lease, Tenant shall pay to
Landlord fifty percent (50%) of any such excess rental upon receipt (less any
actual third party out of pocket expenses incurred by Tenant in connection with
such assignment or subleasing).  Tenant
agrees to pay Landlord $500.00 upon demand by Landlord for reasonable
accounting and attorneys’ fees incurred in conjunction with the processing and
documentation of any requested assignment, subletting or any other
hypothecation of this Lease or Tenant’s interest in and to the Leased Premises
as consideration for Landlord’s consent.

 

Section 11.02.  Permitted Transfer.  Notwithstanding anything to the contrary
contained in Section 11.01 above, Tenant shall have the right,
without Landlord’s consent, but upon ten (10) days

 

12

 

prior notice to Landlord,
to (a) sublet all or part of the Leased Premises to any related corporation or
other entity which controls Tenant, is controlled by Tenant or is under common
control with Tenant; (b) assign all or any part of this Lease to any related
corporation or other entity which controls Tenant, is controlled by Tenant, or
is under common control with Tenant, or to a successor entity into which or
with which Tenant is merged or consolidated or which acquires substantially all
of Tenant’s assets, stock or property; or (c) effectuate any public offering of
Tenant’s stock on the New York Stock Exchange or in the NASDAQ over the counter
market, provided that in the event of a transfer pursuant to clause (b), the
tangible net worth after any such transaction is not less than the greater of
(i) the tangible net worth of Tenant as of the date that the Closing occurs
pursuant to Special Stipulation 11 of Exhibit
E to the Lease, and (ii) $10,000,000.00, and provided further
that such successor entity assumes all of the obligations and liabilities of
Tenant (any such entity hereinafter referred to as a “Permitted Transferee”).  For the purpose of this Article 11
“control” shall mean ownership of not less than fifty percent (50%) of all
voting stock or legal and equitable interest in such corporation or
entity.  Any such transfer shall not
relieve Tenant of its obligations under this Lease.  Nothing in this paragraph is intended to nor
shall permit Tenant to transfer its interest under this Lease as part of a
fraud or subterfuge to intentionally avoid its obligations under this Lease
(for example, transferring its interest to a shell corporation that
subsequently files a bankruptcy), and any such transfer shall constitute a
Default hereunder.  Any change in control
of Tenant resulting from a merger, consolidation, or stock transfer, or any
sale of substantially all of the assets of Tenant that do not meet the
requirements of this Section 11.02 shall be deemed an assignment or
transfer that requires Landlord’s prior written consent pursuant to Section 11.01
above.

 

ARTICLE 12 - TRANSFERS BY LANDLORD

 

Section 12.01.  Sale of the Building.  Landlord shall have the right to sell the
Building at any time during the Lease Term, subject only to the rights of
Tenant hereunder; and such sale shall operate to release Landlord from
liability hereunder for any matter occurring after the date of such conveyance
provided the purchaser or other transferee assumes all obligations of Landlord
under this Lease.

 

Section 12.02.  Estoppel Certificate.

 

(a)                                  Within
ten (10) days following receipt of a written request from Landlord, Tenant
shall execute and deliver to Landlord, without cost to Landlord, an estoppel
certificate in such form as Landlord may reasonably request certifying (a) that
this Lease is in full force and effect and unmodified or stating the nature of
any modification, (b) the date to which rent has been paid, (c) that there are
not, to Tenant’s knowledge, any uncured defaults or specifying such defaults if
any are claimed, and (d) any other matters or state of facts reasonably
required respecting the Lease.  Such
estoppel may be relied upon by Landlord and by any purchaser or mortgagee of
the Building.

 

(b)                                 Within
ten (10) days following receipt of a written request from Tenant, Landlord
shall execute and deliver to Tenant an estoppel certificate in such form as
Tenant may reasonably request certifying (i) that this Lease is in full force
and effect and unmodified or stating the nature of any modification, (ii) the
date to which rent has been paid, (iii) that there are not, to Landlord’s
knowledge, any uncured defaults or specifying such defaults if any are claimed,
and (iv) any other matters or state of facts reasonably required respecting the
Lease, it being intended that any such statement delivered pursuant hereto may
be relied upon by Tenant, by any assignee or sublessee of the Leased Premises,
and by any other person or entity reasonably requested by Tenant.

 

Section 12.03.  Subordination.  Landlord shall have the right to subordinate
this Lease to any mortgage, deed to secure debt, deed of trust or other
instrument in the nature thereof, and any amendments or modifications thereto
(collectively, a “Mortgage”) presently existing or hereafter encumbering the
Building by so declaring in such Mortgage provided that the holder of said
Mortgage agrees not to disturb Tenant’s possession of the Leased Premises so
long as Tenant is not in default hereunder, as evidenced by a subordination,
non-disturbance agreement signed by said holder and reasonably acceptable to
Tenant.  Promptly following Landlord’s request,
Tenant shall execute such a subordination and non-disturbance agreement.  Notwithstanding the foregoing, if the holder
of the Mortgage shall take title to the Leased Premises through foreclosure or
deed in lieu of foreclosure, Tenant shall be allowed to continue in possession
of the Leased Premises as provided for in this Lease so long as Tenant is not
in Default.  As of the date of this
Lease, there is no Mortgage encumbering the Building.

 

ARTICLE 13 - DEFAULT AND REMEDY

 

Section 13.01.  Default.  The occurrence of any of the following shall
be a “Default”:

 

13

 

(a)                                  Tenant
fails to pay any Monthly Rental Installments or Additional Rent (i) within five
(5) business days following written notice from Landlord on the first two (2)
occasions in any twelve (12) month period, and (ii) within five (5) business
days after the same is due on any subsequent occasion within said twelve (12)
month period.

 

(b)                                 Tenant
fails to perform or observe any other term, condition, covenant or obligation
required under this Lease for a period of thirty (30) days after written notice
thereof from Landlord; provided, however, that if the nature of Tenant’s
default is such that more than thirty (30) days are reasonably required to
cure, then such default shall be deemed to have been cured if Tenant commences
such performance within said thirty (30) day period and thereafter diligently
completes the required action within a reasonable time.

 

(c)                                  Intentionally
Omitted.

 

(d)                                 Tenant
shall assign or sublet all or a portion of the Leased Premises in contravention
of the provisions of Article 11 of this Lease and does not cure
such default within ten (10) business days following notice of the same.

 

(e)                                  All
or substantially all of Tenant’s assets in the Leased Premises or Tenant’s
interest in this Lease are attached or levied under execution (and Tenant does
not discharge the same within sixty (60) days thereafter); a petition in
bankruptcy, insolvency or for reorganization or arrangement is filed by or
against Tenant (and Tenant fails to secure a stay or discharge thereof within
sixty (60) days thereafter); Tenant is insolvent and unable to pay its debts as
they become due; Tenant makes a general assignment for the benefit of creditors;
Tenant takes the benefit of any insolvency action or law; the appointment of a
receiver or trustee in bankruptcy for Tenant or its assets if such receivership
has not been vacated or set aside within thirty (30) days thereafter; or,
dissolution or other termination of Tenant’s corporate charter if Tenant is a
corporation and provided this Lease has not been assigned as permitted herein.

 

Section 13.02.  Remedies.  Upon the occurrence of any Default, Landlord
shall have the following rights and remedies, in addition to those allowed by
law or in equity, any one or more of which may be exercised without further
notice to Tenant:

 

                                                (a)                                  Terminate
this Lease by giving Tenant notice of termination, in which event this Lease
shall expire and terminate on the date specified in such notice of termination
and all rights of Tenant under this Lease and in and to the Leased Premises
shall terminate.  Tenant shall remain
liable for all obligations under this Lease arising up to the date of such
termination, and Tenant shall surrender the Leased Premises to Landlord on the
date specified in such notice. 
Furthermore, provided Landlord has not collected in full from Tenant
under subsection (c) below, Tenant shall be liable to Landlord for the
unamortized balance of any Tenant improvement allowance and brokerage fees paid
in connection with the Lease, except to the extent Landlord exercises any
remedy to collect the present value of the remaining rent due under this Lease. 

 

(b)                                 Without
terminating this Lease, and with or without notice to Tenant, re-enter the
Leased Premises and cure any default of Tenant, and Tenant shall reimburse
Landlord as Additional Rent for any costs and expenses which Landlord thereby
incurs; and Landlord shall not be liable to Tenant for any loss or damage which
Tenant may sustain by reason of Landlord’s action except to the extent of
Landlord’s negligence or willful misconduct not otherwise waived by Tenant
pursuant to Section 8.06 above or any other provision of this
Lease.

 

(c)                                  Terminate
this Lease as provided in subparagraph (a) above and recover from Tenant all
damages Landlord may incur by reason of Tenant’s default, including, without
limitation, an amount which, at the date of such termination is equal to the
sum of the following:  (i) the value of
the excess, if any, discounted at the prime rate of interest (as reported in
the Wall Street Journal), of (A) the Minimum Annual Rent,
Additional Rent and all other sums that would have been payable hereunder by
Tenant for the period for the remainder of the Lease Term had this Lease not
been terminated (said period being referred to herein as the “Remaining Term”),
less (B) the aggregate reasonable rental value of the Leased Premises
for the Remaining Term, as determined by a real estate broker licensed in the
State of Georgia who has at least ten (10) years of experience; (ii) the costs
of recovering possession of the Leased Premises and all other expenses incurred
by Landlord due to Tenant’s Default, including, without limitation, reasonable
attorney’s fees and the cost to prepare the Leased Premises for re-letting;
provided, however, that for purposes of this clause (ii), the cost to prepare
the Leased Premises for re-letting shall not exceed $7.00 per rentable square
foot of space within the Leased Premises (all costs and expenses set forth in
this clause (ii) being referred to herein, collectively, as the “Default
Damages”); and (iii) the unpaid Minimum Annual Rent and Additional Rent that
accrued prior to the date of termination, plus any

 

14

 

interest and late fees
due hereunder and any other sums of money and damages owing on the date of
termination by Tenant to Landlord under this Lease or in connection with the
Leased Premises (all amounts set forth in this clause (iii) being referred to
herein, collectively, as the “Prior Obligations”).  The amount as calculated above shall be
deemed immediately due and payable. 
Landlord and Tenant acknowledge and agree that the payment of the amount
set forth in clause (i) above shall not be deemed a penalty, but shall merely
constitute payment of liquidated damages, it being understood that actual
damages to Landlord are extremely difficult, if not impossible, to
ascertain.  Tenant expressly acknowledges
and agrees that the liabilities and remedies specified in this subparagraph (c)
shall survive the termination of this Lease.

 

(d)                                 Intentionally
Omitted.

 

(e)                                  Without
terminating this Lease, terminate Tenant’s right to possession of the Leased
Premises as of the date of Tenant’s Default, and thereafter (i) neither Tenant
nor any person claiming under or through Tenant shall be entitled to possession
of the Leased Premises, and Tenant shall immediately surrender the Leased
Premises to Landlord; and (ii) Landlord may re-enter the Leased Premises and
dispossess Tenant and any other occupants of the Leased Premises by any lawful
means and may remove their effects, without prejudice to any other remedy which
Landlord may have.  Thereafter, Landlord
may, but shall not be obligated to, re-let all or any part of the Leased
Premises as the agent of Tenant for a term different from that which would
otherwise have constituted the balance of the Lease Term and for rent and on
terms and conditions different from those contained herein, whereupon Tenant
shall be obligated to pay to Landlord as liquidated damages the difference
between the rent provided for herein and that provided for in any lease
covering a subsequent re-letting of the Leased Premises, for the Remaining
Term, together with all Default Damages. 
Neither the filing of a dispossessory proceeding nor an eviction of
personalty in the Leased Premises shall be deemed to terminate the Lease.

 

(f)                                    Allow
the Leased Premises to remain unoccupied and collect rent from Tenant as it
comes due; provided, however, that to the extent required by applicable law,
Landlord will use reasonable efforts to mitigate its damages.  Without limiting the foregoing, Landlord
agrees to add the Leased Premises to its inventory of vacant space.

 

(g)                                 Sue
for injunctive relief or to recover damages for any loss resulting from the
Default.

 

Section 13.03.  Landlord’s Default and Tenant’s Remedies.  Landlord shall be in default if it fails to
perform any term, condition, covenant or obligation required under this Lease
for a period of thirty (30) days after written notice thereof from Tenant to
Landlord; provided, however, that if the term, condition, covenant or
obligation to be performed by Landlord is such that it cannot reasonably be
performed within thirty (30) days, such default shall be deemed to have been
cured if Landlord commences such performance within said thirty-day period and
thereafter diligently undertakes to complete the same and does in fact, within
a reasonable time thereafter, complete the same.  Upon the occurrence of any such default,
Tenant may sue for injunctive relief or to recover damages for any loss
directly resulting from the breach, but Tenant shall not be entitled to
terminate this Lease or withhold, offset or abate any sums due hereunder;
provided, however, that the foregoing shall not be deemed to waive Tenant’s
right to make a constructive eviction claim under Georgia law. As to Landlord’s
maintenance and repair obligations hereunder, if Landlord has not cured or
commenced to cure a maintenance or repair default set forth in said notice from
Tenant within said 30-day period (or, in the event of an emergency, such lesser
period of time as is reasonable under the circumstances), Tenant may undertake
all reasonable action to cure Landlord’s failure of performance.  If Tenant elects to cure said default, Tenant
shall, prior to commencement of said work, provide to Landlord a specific
description of the work to be performed by Tenant and the name of Tenant’s
contractor.  Any materials used shall be
of equal or better quality than currently exists in the Building and Tenant’s
contractor shall be adequately insured and of good reputation. Landlord agrees
to reimburse Tenant on demand for all reasonable, third party out-of-pocket
expenses incurred by Tenant in connection therewith plus an administrative fee
equal to five percent (5%) of such expenses, provided that Tenant delivers to
Landlord adequate bills or other supporting evidence substantiating said cost.  If Landlord fails to reimburse Tenant or give
Tenant notice of objection to such reimbursement within sixty (60) days
following Tenant’s demand, and if Landlord’s objection to such reimbursement is
resolved against Landlord by agreement of the parties or by a court of
competent jurisdiction to which the dispute has been submitted by the parties,
Tenant shall have the right to set off said reimbursement from the rental
payable by Tenant to Landlord hereunder.

 

Section 13.04.  Limitation of Landlord’s Liability.  If Landlord shall fail to perform any term,
condition, covenant or obligation required to be performed by it under this
Lease and if Tenant shall, as a consequence thereof, recover a money judgment
against Landlord, Tenant agrees that it shall look solely to Landlord’s right,
title and interest in and to the Building including any rents and profits
therefrom, net

 

15

 

proceeds of the sale or
refinancing (after paying off any encumbrances), and any insurance proceeds or
condemnation awards not applied to the reconstruction or restoration of the
Building or the Leased Premises for the collection of such judgment; and Tenant
further agrees that no other assets of Landlord shall be subject to levy,
execution or other process for the satisfaction of Tenant’s judgment.

 

Section 13.05.  Nonwaiver of Defaults.  Neither party’s failure or delay in
exercising any of its rights or remedies or other provisions of this Lease
shall constitute a waiver thereof or affect its right thereafter to exercise or
enforce such right or remedy or other provision.  No waiver of any default shall be deemed to
be a waiver of any other default. 
Landlord’s receipt of less than the full rent due shall not be construed
to be other than a payment on account of rent then due, nor shall any statement
on Tenant’s check or any letter accompanying Tenant’s check be deemed an accord
and satisfaction.  No act or omission by
Landlord or its employees or agents during the Lease Term shall be deemed an
acceptance of a surrender of the Leased Premises, and no agreement to accept
such a surrender shall be valid unless in writing and signed by Landlord.

 

Section 13.06.  Attorneys’ Fees.  If either party defaults in the performance
or observance of any of the terms, conditions, covenants or obligations
contained in this Lease and the non-defaulting party obtains a judgment against
the defaulting party, then the defaulting party agrees to reimburse the
non-defaulting party for reasonable attorneys’ fees incurred in connection therewith.  In addition, if a monetary Default shall
occur and Landlord engages outside counsel to exercise its remedies hereunder,
and then Tenant cures such monetary Default, Tenant shall pay to Landlord, on
demand, all expenses incurred by Landlord as a result thereof, including
reasonable attorneys’ fees, court costs and expenses actually incurred.

 

ARTICLE 14 - LANDLORD’S RIGHT TO RELOCATE
TENANT

 

INTENTIONALLY OMITTED

 

ARTICLE 15 - TENANT’S RESPONSIBILITY
REGARDING

ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES

 

Section 15.01.  Environmental Definitions.

 

(a)                                  “Environmental
Laws” shall mean all present or future federal, state and municipal laws,
ordinances, rules and regulations applicable to the environmental and
ecological condition of the Leased Premises, and the rules and regulations of
the Federal Environmental Protection Agency and any other federal, state or
municipal agency or governmental board or entity having jurisdiction over the
Leased Premises.

 

(b)                                 “Hazardous
Substances” shall mean those substances included within the definitions of “hazardous
substances,” “hazardous materials,” “toxic substances” “solid waste” or “infectious
waste” under Environmental Laws and petroleum products.

 

Section 15.02.  Restrictions on Tenant.  Tenant shall not cause or permit the use,
generation, release, manufacture, refining, production, processing, storage or
disposal of any Hazardous Substances on, under or about the Leased Premises, or
the transportation to or from the Leased Premises of any Hazardous Substances,
except with Landlord’s prior consent, in which case the use, storage or
disposal of such Hazardous Substances shall be performed in compliance with the
Environmental Laws and the highest standards prevailing in the industry.

 

Section 15.03.  Notices, Affidavits, Etc.  Tenant shall immediately (a) notify Landlord
of (i) any violation by Tenant, its employees, agents, representatives,
customers, invitees or contractors of any Environmental Laws on, under or about
the Leased Premises, or (ii) the presence or suspected presence of any
Hazardous Substances on, under or about the Leased Premises, and (b) deliver to
Landlord any notice received by Tenant relating to (a)(i) and (a)(ii)
above from any source.  Tenant shall
execute affidavits, representations and the like within five (5) days of
Landlord’s request therefor concerning Tenant’s actual knowledge and belief
regarding the presence of any Hazardous Substances on, under or about the
Leased Premises.

 

Section 15.04.  Tenant’s Indemnification.  Tenant shall indemnify Landlord and Landlord’s
managing agent from any and all claims, losses, liabilities, costs, expenses
and damages, including attorneys’ fees, costs of testing and remediation costs,
incurred by Landlord in connection with any breach by Tenant of its obligations
under this Article 15.  The
covenants and obligations under this Article 15 shall survive the
expiration or earlier termination of this Lease.

 

16

 

Section 15.05.  Existing Conditions.  Notwithstanding anything contained in this Article 15
to the contrary, Tenant shall not have any liability to Landlord under this Article 15
resulting from any conditions existing, or events occurring, or any Hazardous
Substances existing or generated, at, in, on, under or in connection with the
Leased Premises prior to the Commencement Date of this Lease (or any earlier
occupancy of the Leased Premises by Tenant) except to the extent Tenant
exacerbates the same.

 

Section 15.06.  Landlord’s Representations Regarding
Existing Conditions.  Landlord
represents that to Landlord’s actual knowledge, neither Landlord nor any
predecessor owner of the Building or underlying land has treated, stored or
disposed of any Hazardous Substances upon or within the Building or underlying
land.

 

Section 15.07.  Landlord’s Indemnification.  Landlord hereby agrees to indemnify Tenant
and hold Tenant harmless from and against any and all reasonable and actual
expense, loss and liability suffered by Tenant (with the exception of any and
all punitive or consequential damages) by reason of (a) Hazardous Substances
disposed upon or within the Leased Premises during the Lease Term by Landlord
or its agents, or (b) Landlord’s breach of the representations set forth in Section 15.06
above.  Notwithstanding the foregoing,
Landlord shall have the right to undertake and perform any studying, remedying,
removing, disposing or otherwise addressing the existence of any Hazardous
Substances that are the responsibility of Landlord hereunder and of all communications
with regulatory or governmental agencies with respect thereto, and Tenant shall
not perform such acts and communications nor be entitled to any indemnification
hereunder unless (x) Tenant is specifically required by Environmental Laws to
perform such acts, and (y) Landlord has failed or refused to perform such acts
and communications after having been afforded reasonable written notice by
Tenant and having had reasonable opportunity to perform such acts and
communications.

 

ARTICLE 16 - MISCELLANEOUS

 

Section 16.01.  Benefit of Landlord and Tenant.  This Lease shall inure to the benefit of and
be binding upon Landlord and Tenant and their respective successors and
assigns.

 

Section 16.02.  Governing Law.  This Lease shall be governed in accordance
with the laws of the State where the Building is located.

 

Section 16.03.  Force Majeure.  Landlord and Tenant (except with respect to
the payment of any monetary obligation) shall be excused for the period of any
delay in the performance of any obligation hereunder when such delay is
occasioned by causes beyond its control, including but not limited to work
stoppages, boycotts, slowdowns or strikes; shortages of materials, equipment,
labor or energy; unusual weather conditions; or acts or omissions of governmental
or political bodies; provided, however, that the foregoing shall be subject to
Tenant’s rights of abatement as set forth above.

 

Section 16.04.  Examination of Lease.  Submission of this instrument by Landlord to
Tenant for examination or signature does not constitute an offer by Landlord to
lease the Leased Premises.  This Lease
shall become effective, if at all, only upon the execution by and delivery to
both Landlord and Tenant.  Execution and
delivery of this Lease by Tenant to Landlord constitutes an offer to lease the
Leased Premises on the terms contained herein.

 

Section 16.05.  Indemnification for Leasing Commissions.  The parties hereby represent and warrant that
the only real estate brokers involved in the negotiation and execution of this
Lease are the Brokers and that no other party is entitled, as a result of the
actions of the respective party, to a commission or other fee resulting from
the execution of this Lease.  Each party
shall indemnify the other from any and all liability for the breach of this
representation and warranty on its part or for any liability resulting from a
broker or similar party’s claim that it is entitled to a commission or similar
compensation based on the acts or omissions of a party to this Lease, and shall
pay any compensation to any other broker or person who may be entitled
thereto.  Landlord shall pay any
commissions due Brokers based on this Lease pursuant to separate agreements
between Landlord and Brokers.

 

Section 16.06.  Notices.  Any notice required or permitted to be given
under this Lease or by law shall be deemed to have been given if it is written
and delivered in person or by overnight courier or mailed by certified mail,
postage prepaid, to the party who is to receive such notice at the address
specified in Section 1.01(l). 
Notice shall be deemed to have been given on the date that such notice
is received or on the date such receipt is refused.  Rejection or other refusal by the addressed
to accept or the inability to deliver because of a changed address of which no
notice was given shall be deemed to be receipt of the notice sent.  Either party may change its address by giving
written notice thereof to the other party.

 

17

 

Section 16.07.  Partial Invalidity; Complete Agreement.  If any provision of this Lease shall be held
to be invalid, void or unenforceable, the remaining provisions shall remain in
full force and effect.  This Lease
represents the entire agreement between Landlord and Tenant covering everything
agreed upon or understood in this transaction. 
There are no oral promises, conditions, representations, understandings,
interpretations or terms of any kind as conditions or inducements to the execution
hereof or in effect between the parties. 
No change or addition shall be made to this Lease except by a written
agreement executed by Landlord and Tenant.

 

Section 16.08.  Financial Statements.  Following the Closing, during the Lease Term
and any extensions thereof, Tenant shall, upon request, provide to Landlord on
an annual basis, within ninety (90) days following the end of Tenant’s fiscal
year, a copy of Tenant’s most recent annual report prepared as of the end of
Tenant’s fiscal year.  Without limiting
the foregoing, in the event that Tenant is no longer a publicly traded company,
Tenant shall provide to Landlord on an annual basis, within ninety (90) days
following the end of Tenant’s fiscal year, a copy of Tenant’s most recent
financial statements prepared as of the end of Tenant’s fiscal year.  Such financial statements shall be signed by
Tenant (or an officer of Tenant, if applicable) who shall attest to the truth
and accuracy of the information set forth in such statements, or if the Minimum
Annual Rent hereunder exceeds $100,000.00, said statements shall be certified
and audited, if available.  All financial
statements provided by Tenant to Landlord hereunder shall be prepared in
conformity with generally accepted accounting principles, consistently
applied.  Landlord agrees that it shall
maintain the confidentiality of such financial statements during the Lease
Term; provided, however, that said obligation shall not be construed so as to
prohibit Landlord from disclosing the contents of the financial statements to
(a) officers and employees of Landlord and those agents, attorneys and
consultants of Landlord reasonably requiring access, (b) actual or prospective
lenders, purchasers, investors or shareholders of Landlord, (c) any entity or
agency required by law, or (d) any entity or agency which is reasonably
necessary to protect Landlord’s interest in any action, suit or proceeding
brought by or against Landlord and relating to the subject matter of this
Lease.

 

Section 16.09.  Representations and Warranties.

 

(a)                                  Tenant
hereby represents and warrants that (i) Tenant is duly organized, validly
existing and in good standing (if applicable) in accordance with the laws of
the State under which it was organized; (ii) Tenant is authorized to do
business in the State where the Building is located; and (iii) the
individual(s) executing and delivering this Lease on behalf of Tenant has been
properly authorized to do so, and such execution and delivery shall bind Tenant
to its terms.

 

(b)                                 Landlord
hereby represents and warrants that (i) Landlord is duly organized, validly
existing and in good standing (if applicable) in accordance with the laws of
the State under which it was organized; (ii) Landlord is authorized to do
business in the State where the Building is located; and (iii) the individual(s)
executing and delivering this Lease on behalf of Landlord has been properly
authorized to do so, and such execution and delivery shall bind Landlord to its
terms.

 

Section 16.10.  Signage.  Tenant may, at its own expense, erect a sign
concerning the business of Tenant that shall be in keeping with the decor and
other signs on the Building.  All signage
(including the signage described in the preceding sentence) in or about the
Leased Premises shall be first approved by Landlord and shall be in compliance
with any codes and recorded restrictions applicable to the sign or the
Building.  The location, size and style
of all signs shall be approved by Landlord. 
Tenant agrees to maintain any sign in good state of repair, and upon
expiration of the Lease Term, Tenant agrees to remove such signs promptly and
repair any damage to the Leased Premises.

 

Section 16.11.  Consent.  Where the consent of a party is required
hereunder, such consent will not be unreasonably withheld, conditioned or
delayed.

 

Section 16.12.  Time. 
Time is of the essence of each term and provision of this Lease.

 

Section 16.13.  Usufruct.  Tenant’s interest in the Leased Premises is a
usufruct, not subject to levy and sale, and not assignable by Tenant except as
expressly set forth herein.

 

Section 16.14.  Guaranty.  In consideration of Landlord’s leasing the
Leased Premises to Tenant, Tenant shall provide Landlord with an Unconditional
Guaranty of Lease in the form attached hereto as Exhibit F, executed by the Guarantor, subject to the terms
and conditions of Special Stipulation 12 attached as Exhibit E hereto.

 

 

(SIGNATURES CONTAINED ON FOLLOWING PAGE)

 

18

 

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

 

 

	
  Signed, sealed
  and delivered

  	
  LANDLORD:

  
	
  as to Landlord,
  in the

  	
   

  
	
  presence of:

  	
  DUKE REALTY
  LIMITED PARTNERSHIP, an

  Indiana limited partnership 

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Unofficial
  Witness

  	
   

  	
   

  	
  By:

  	
  Duke Realty
  Corporation,

  its General Partner 

  
	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [notarized]

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Bob Chapman

  	
   

  
	
  Notary Public

  	
   

  	
   

  	
   

  	
  Name:

  	
  Bob Chapman

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  SEVP

  	
   

  
									

 

 

	
  Signed, sealed
  and delivered

  	
  TENANT:

  
	
  as to Tenant, in
  the

  	
   

  
	
  presence of: 

  	
  NEENAH PAPER,
  INC., a Delaware corporation 

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Sean T.
  Erwin

  	
   

  
	
  Unofficial
  Witness 

  	
   

  	
  Name:

  	
  Sean T. Erwin

  	
   

  
	
   

  	
   

  	
  Title:

  	
  President and
  CEO

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  [notarized]

  	
   

  	
   

  	
   

  	
   

  
	
  Notary Public

  	
   

  	
  Attest:

  	
  /s/ Steve S.
  Heinrichs

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Steve S.
  Heinrichs

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Assistant
  Secretary

  	
   

  
								

 

19

 

EXHIBIT A

 

SITE PLAN OF LEASED PREMISES

 

[TO BE ADDED]

 

 

EXHIBIT B

 

TENANT IMPROVEMENTS

 

1.                                       Condition
of Leased Premises.

 

(a)                                  Tenant
has personally inspected the Leased Premises and accepts the same “AS IS” without representation or warranty by Landlord of
any kind, except as otherwise expressly set forth herein; provided, however,
nothing herein shall be deemed to negate Landlord’s maintenance and repair
obligations as expressly set forth herein. 
Tenant shall be responsible for constructing the interior improvements
within the Leased Premises as described in Exhibit
B-1 attached hereto (the “Tenant Improvements”).  Landlord hereby approves (i) Gobbell Hays
Partners, Inc., HESM&, Inc., Harris, Perry & Associates, Inc., and
Facilities Consulting Services, Inc., as Tenant’s architect/engineer, (ii)
Malone Construction Co. as Tenant’s construction contractor, (iii) Inglett
& Stubbs as Tenant’s electrical subcontractor, and (iv) Mallory and Evans
as Tenant’s mechanical and plumbing subcontractor.  Promptly following the execution of this
Lease, Tenant shall forward to its architect/engineer (and copy Landlord on the
transmittal) Landlord’s building standards heretofore delivered to Tenant, and
Tenant shall cause its architect/engineer to comply with said building
standards.  Promptly following the
execution of this Lease, Tenant shall forward to its contractor (and copy
Landlord on the transmittal) Landlord’s mechanical, electrical and plumbing
specifications and Landlord’s rules of conduct, all of which have been
delivered to Tenant prior to the date of this Lease, and Tenant shall cause
said contractor to comply with said specifications and rules of conduct.  At Landlord’s request, Tenant shall
coordinate a meeting among Landlord, Tenant and Tenant’s contractor to discuss
the Building systems and other matters related to the construction of the
Tenant Improvements.

 

(b)                                 Landlord
shall deliver the Leased Premises to Tenant in broom-clean condition upon the
later to occur of (i) full execution of this Lease, and (ii) Tenant’s delivery
to Landlord of Tenant’s certificates of insurance as required under Section 8.04
of the Lease.  In the event that Landlord
fails to deliver the Leased Premises within two (2) business days following the
later to occur of subsection (i) or (ii) above, the Commencement Date (and
the expiration of the Lease Term) shall be postponed one day for each day that
Landlord fails to deliver the Leased Premises. 
Tenant’s acceptance of the Leased Premises prior to the Commencement
Date shall not be deemed to create an obligation to pay Minimum Annual Rent or
Additional Rent prior to the dates set forth herein; provided, however, that
Tenant shall otherwise comply with all of the terms and conditions of this
Lease upon acceptance of the Leased Premises.

 

(c)                                  Prior
to the Commencement Date, Tenant shall perform the work described on Exhibit B-2 attached hereto (the “Compliance
Work”).  Following Tenant’s completion of
the Compliance Work, Landlord shall reimburse Tenant for the cost of the
Compliance Work, up to $62,083.00 (the “Compliance Allowance”), within thirty
(30) days following Tenant’s request therefor (which request shall be
accompanied by evidence of such cost reasonably acceptable to Landlord).  Tenant acknowledges and agrees that, to Tenant’s
knowledge, following the Compliance Work (i) the restrooms will comply with all
ADA (as hereinafter defined) requirements, (ii) there will be no code
compliance issues with regard to the separation of walls with adjacent tenants,
and (iii) the heating, ventilation and air-conditioning system will be in
compliance with code with regard to the outside air and installation.  Landlord shall not charge a construction
management fee in connection with the Compliance Work.

 

2.                                       Preparation
of CD’s.  On or before the
forty-fifth (45th) day following the date hereof, Tenant shall, at
Tenant’s sole cost and expense, prepare and submit to Landlord a set of
permittable construction drawings (the “CD’s”), based on the preliminary plans
attached hereto as Exhibit B-1
and made a part hereof, covering all work to be performed by Tenant in
constructing the Tenant Improvements. 
Tenant shall have no right to request any Tenant Improvements that would
materially alter the exterior appearance or basic nature of the Building or the
Building systems without Landlord’s consent. 
Landlord shall have seven (7) days after receipt of the CD’s in which to
review the CD’s and in which to give Tenant written notice of its approval of
the CD’s or its requested changes to the CD’s. 
If Landlord reasonably requests any changes to the CD’s, Tenant shall
make such changes and shall, within seven (7) days of its receipt of Landlord’s
requested changes (if any), submit the revised portion of the CD’s to
Landlord.  Landlord shall have five (5)
business days after receipt of the revised CD’s in which to review said revised
CD’s and in which to give to Tenant written notice of its approval of the
revised CD’s or its requested changes thereto. 
This process shall continue until such time, if at all, that Landlord
approves the CD’s in accordance with this paragraph.  Tenant shall at all times in its preparation
of the CD’s, and of any revisions thereto, act reasonably and in good
faith.  Landlord shall at all times in
its review of the CD’s, and any revisions thereto, act reasonably and in good
faith.  Landlord’s failure to respond
within the time periods set forth in this paragraph shall result in Landlord’s
approval being deemed given.

 

B-1

 

3.                                       Construction
of Tenant Improvements.  Prior to
commencing the construction of the Tenant Improvements, Tenant shall deliver to
Landlord (a) evidence of insurance (whether carried by Tenant or its
contractor), which insurance shall be maintained throughout the construction of
the Tenant Improvements, and (b) a project schedule in detail reasonably
satisfactory to Landlord.  Throughout the
construction of the Tenant Improvements, Tenant shall notify Landlord promptly
of any material deviations from such project schedule.  Tenant or its contractor shall construct the
Tenant Improvements in a good, first-class and workmanlike manner and in
accordance with the CD’s, subject to such changes as may be requested by Tenant
and reasonably approved by Landlord, and all applicable governmental
regulations.  In the event Tenant intends
to change the CD’s after the same have been approved by Landlord, Tenant shall
submit such change orders to Landlord and Landlord shall respond with comments
to the same within five (5) business days of receipt of the change order, or
Landlord shall be deemed to have approved the change order.  Except as otherwise set forth herein, if
Tenant shall fail to complete the Tenant Improvements by the Commencement Date,
Tenant’s obligation to pay Minimum Annual Rent and Additional Rent hereunder
shall nevertheless begin on the Commencement Date.  Landlord shall have the right, from time to
time throughout the construction process, to enter upon the Leased Premises to
perform periodic inspections of the Tenant Improvements provided that such
inspection follows advance written notice from the Landlord and provided such
inspection does not unreasonably interrupt or interfere with the completion of
the Tenant Improvements.  Tenant agrees
to respond to and address promptly any reasonable concerns raised by Landlord
during or as a result of such inspections.

 

4.                                       Punchlist.  Upon substantial completion of the Tenant
Improvements, a representative of Landlord and a representative of Tenant
together shall inspect the Leased Premises and generate a punchlist of
defective or uncompleted items relating to the completion of construction of
the Tenant Improvements.  Tenant shall,
within a reasonable time after such punchlist is prepared and agreed upon by
Landlord and Tenant, complete such incomplete work and remedy such defective
work as are set forth on the punchlist.

 

5.                                       Improvement
Costs.  Landlord shall reimburse
Tenant for the Improvement Costs (as hereinafter defined) incurred in
constructing the Tenant Improvements, up to an amount equal to $212,835.00 (the
“Tenant Allowance”), as follows:

 

(a)                                  Landlord
shall pay fifty percent (50%) of the Tenant Allowance, less a holdback (the “Holdback”)
equal to ten percent (10%), to Tenant at such time as:

 

(i)                                     Tenant
has delivered to Landlord a copy of Tenant’s building permit;

 

(ii)                                  Tenant
has received Landlord’s written approval of the CD’s (or Landlord’s approval of
the CD’s has been deemed given);

 

(iii)                               Tenant’s
contractor has completed fifty percent (50%) of the Tenant Improvements within
the Leased Premises, as evidenced by a certificate from Tenant’s architect and
invoices, receipts and other evidence reasonably required by Landlord to
evidence the cost of the Tenant Improvements made as of the date of Tenant’s
request for payment; and

 

(iv)                              Tenant
has delivered to Landlord partial lien waivers for the first fifty percent
(50%) of the Tenant Improvements from Tenant’s contractor relating to the
construction of the first fifty percent (50%) of the Tenant Improvements.

 

(b)                                 Landlord
shall pay the remainder of the Tenant Allowance (less the Holdback and the Fee,
as hereinafter defined) to Tenant at such time as Tenant’s contractor has:

 

(i)                                     substantially
completed the Tenant Improvements and received a certificate of occupancy from
the applicable governing authority;

 

(ii)                                  delivered
to Landlord lien waivers and affidavits from Tenant’s contractor, together with
any other evidence reasonably required by Landlord to satisfy Landlord’s title
insurer that there are no parties entitled to file a lien against the real
property underlying the Park in connection with such work; and

 

(iii)                               delivered
to Landlord all invoices, receipts and other evidence reasonably required by
Landlord to evidence the cost of the Tenant Improvements.

 

2

 

(c)                                  Landlord
shall pay the Holdback to Tenant at such time as Tenant has completed the
incomplete work and remedied the defective work set forth on the punchlist.

 

(d)                                 Landlord
shall be entitled to a construction management fee in an amount equal to three
percent (3%) of the Tenant Allowance (the “Fee”).  At Landlord’s option, the Fee shall either be
(A) applied against the Tenant Allowance, or (B) billed to Tenant (in which
case Tenant shall pay the Fee to Landlord within ten (10) days following
Landlord’s delivery of an invoice to Tenant).

 

(e)                                  For
purposes of this Lease, the term “Improvement Costs” shall mean the cost of the
CD’s and any other design related costs and all tenant buildout, including, without
limitation, demising walls and utilities. 
Tenant shall be responsible for all Improvement Costs in excess of the
Tenant Allowance.

 

(f)                                    In
the event that Landlord fails to make any required payment of the Tenant
Allowance or the Compliance Allowance, such unpaid amount shall bear interest
from the due date thereof to the date of payment at the Prime Rate (as defined
in Section 3.04 of the Lease) plus six percent (6%) per annum;
provided, however, that in no event shall such interest rate exceed twelve
percent (12%) per annum.  In addition, to
the extent that such payments from Landlord remain unpaid, provided that Tenant
has complied with all of the terms and conditions of this paragraph 5 and
Tenant is not in default under the Lease, Tenant shall have the right to set
off the amount of such payment from the next Monthly Rental Installment(s) due
under the Lease.

 

6.                                       Certificate
of Occupancy.  Tenant acknowledges
and agrees that Tenant shall have no right to conduct its business at the
Leased Premises unless and until Tenant delivers to Landlord an original
certificate of occupancy for the Leased Premises, to the extent applicable.

 

3

 

EXHIBIT B-1

 

PRELIMINARY PLANS

 

[TO BE ADDED]

 

B-1-1

 

EXHIBIT B-2

 

COMPLIANCE WORK

 

[TO BE ADDED]

 

 

EXHIBIT C

 

LETTER OF UNDERSTANDING

 

Duke
Realty Limited Partnership

Attention:                                           ,
Property Manager

[Address]

[City, State Zip]

 

RE:                              Lease
Agreement between Duke Realty Limited
Partnership, an Indiana limited partnership (“Landlord”) and                                                                                     
(“Tenant”) for the Leased Premises located at                                                                     ,                          ,                              
(the “Leased Premises”), dated                                  
(the “Lease”).

 

Dear                                   :

 

The undersigned, on behalf of Tenant, certifies to
Landlord as follows:

 

1.                                       The
Commencement Date under the Lease is December 1, 2004.

 

2.                                       The
rent commencement date is June 1, 2005.

 

3.                                       The
expiration date of the Lease is September 30, 2014.

 

4.                                       The
Lease (including amendments or guaranty, if any) is the entire agreement
between Landlord and Tenant as to the leasing of the Leased Premises and is in
full force and effect.

 

5.                                       The Landlord has completed the
improvements designated as Landlord’s obligation under the Lease (excluding punchlist
items as agreed upon by Landlord and Tenant), if any, and Tenant has accepted
the Leased Premises as of the Commencement Date, subject to the terms and
conditions of the Lease.

 

6.                                       To the
undersigned’s actual knowledge, there are no uncured events of default by
either Tenant or Landlord under the Lease.

 

IN WITNESS WHEREOF, the undersigned has caused this
Letter of Understanding to be executed this           
day of                                 ,
20      .

 

 

 

	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Printed Name:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
							

 

C-1

 

EXHIBIT D

 

RULES AND REGULATIONS

 

1.                                       The
sidewalks, entrances, driveways and roadways serving and adjacent to the Leased
Premises shall not be obstructed or used for any purpose other than ingress and
egress.  Landlord shall control the
Common Areas.

 

2.                                       No
awnings or other projections shall be attached to the outside walls of the
Building.  No curtains, blinds, shades or
screens shall be attached to or hung in, or used in connection with, any window
or door of the Leased Premises other than Landlord standard window coverings
without Landlord’s prior written approval. 
All electric ceiling fixtures hung in offices or spaces along the
perimeter of the Building must be fluorescent, of a quality, type, design and
tube color approved by Landlord.  Neither
the interior nor the exterior of any windows shall be coated or otherwise
sunscreened without written consent of Landlord.

 

3.                                       No
sign, advertisement, notice or handbill shall be exhibited, distributed,
painted or affixed by any tenant on, about or from any part of the Leased
Premises, the Building or in the Common Areas including the parking area
without the prior written consent of Landlord. 
In the event of the violation of the foregoing by any tenant, Landlord
may remove or stop same without any liability, and may charge the expense
incurred in such removal or stopping to tenant.

 

4.                                       The
sinks and toilets and other plumbing fixtures shall not be used for any purpose
other than those for which they were constructed, and no sweepings, rubbish,
rags, or other substances shall be thrown therein.  All damages resulting from any misuse of the
fixtures shall be borne by the tenant who, or whose subtenants, assignees or
any of their servants, employees, agents, visitors or licensees shall have
caused the same.

 

5.                                       No
boring, cutting or stringing of wires or laying of any floor coverings shall be
permitted, except with the prior written consent of the Landlord and as the
Landlord may direct.  Landlord shall
direct electricians as to where and how telephone or data cabling are to be
introduced.  The location of telephones,
call boxes and other office equipment affixed to the Leased Premises shall be
subject to the approval of Landlord. 
Tenant shall not have access to the roof without prior written notice to
Landlord.

 

6.                                       No
bicycles, vehicles, birds or animals of any kind (except seeing eye dogs) shall
be brought into or kept in or about the Leased Premises, and no cooking shall
be done or permitted by any tenant on the Leased Premises, except microwave
cooking, and the preparation of coffee, tea, hot chocolate and similar items
for tenants and their employees.  No
tenant shall cause or permit any unusual or objectionable odors to be produced
in or permeate from the Leased Premises.

 

7.                                       The
Leased Premises shall not be used for manufacturing, unless such use conforms
to the zoning applicable to the area, and the Landlord provides written
consent.  No tenant shall occupy or
permit any portion of the Leased Premises to be occupied as an office for the
manufacture or sale of liquor, narcotics, or tobacco in any form, or as a
medical office, or as a barber or manicure shop, or a dance, exercise or music
studio, or any type of school or daycare or copy, photographic or print shop or
an employment bureau without the express written consent of Landlord.  The Leased Premises shall not be used for
lodging or sleeping or for any immoral or illegal purpose.

 

8.                                       No
tenant shall make, or permit to be made any unseemly, excessive or disturbing
noises or disturb or interfere with occupants of this or neighboring buildings
or premises or those having business with them, whether by the use of any
musical instrument, radio, phonograph, unusual noise, or in any other way.  No tenant shall throw anything out of doors,
windows or down the passageways.

 

9.                                       No
tenant, subtenant or assignee nor any of its servants, employees, agents,
visitors or licensees, shall at any time bring or keep upon the Leased Premises
any flammable, combustible or explosive fluid, chemical or substance or
firearm, except as otherwise expressly permitted in such tenant’s lease.

 

10.                                 No
additional locks or bolts of any kind shall be placed upon any of the doors or
windows by any tenant, nor shall any changes be made to existing locks or the
mechanism thereof.  Each tenant must upon
the termination of his tenancy, restore to the Landlord all keys of doors,
offices, and toilet rooms, either furnished to, or otherwise procured by, such
tenant and in the event of the loss of keys so furnished, such tenant shall pay
to the Landlord the cost of replacing the same or of changing the lock or locks
opened by such lost key if Landlord shall deem it necessary to make such
changes.

 

D-1

 

11.                                 No
tenant shall overload the floors of the Leased Premises.  All damage to the floor, structure or
foundation of the Building due to improper positioning or storage items or
materials shall be repaired by Landlord at the sole cost and expense of tenant,
who shall reimburse Landlord immediately therefor upon demand.

 

12.                                 Each
tenant shall be responsible for all persons entering the Building at tenant’s
invitation, express or implied.  Landlord
shall in no case be liable for damages for any error with regard to the
admission to or exclusion from the Building of any person.  In case of an invasion, mob riot, public
excitement or other circumstances rendering such action advisable in Landlord’s
opinion, Landlord reserves the right without any abatement of rent to require
all persons to vacate the Building and to prevent access to the Building during
the continuance of the same for the safety of the tenants and the protection of
the Building and the property in the Building.

 

13.                                 Canvassing,
soliciting and peddling in the Building are prohibited, and each tenant shall
report and otherwise cooperate to prevent the same.

 

14.                                 All
equipment of any electrical or mechanical nature shall be placed by tenant in
the Leased Premises in settings that will, to the maximum extent possible,
absorb or prevent any vibration, noise and annoyance.

 

15.                                 There
shall not be used in any space, either by any tenant or others, any hand trucks
except those equipped with rubber tires and rubber side guards.

 

16.                                 Intentionally
Omitted.

 

17.                                 The
Building is a smoke-free Building. 
Smoking is strictly prohibited within the Building.  Smoking shall only be allowed in areas
designated as a smoking area by Landlord. 
Tenant and its employees, representatives, contractors or invitees shall
not smoke within the Building or throw cigar or cigarette butts or other
substances or litter of any kind in or about the Building, except in
receptacles for that purpose.  Landlord
may, at its sole discretion, impose a charge against monthly rent of $50.00 per
violation by tenant or any of its employees, representatives, contractors or
invitees, of this smoking policy.

 

18.                                 Tenants
will insure that all doors are securely locked and water faucets are turned off
before leaving the Building.

 

19.                                 Tenant,
its employees, customers, invitees and guests shall, when using the parking
facilities in and around the Building, observe and obey all signs regarding
fire lanes and no-parking and driving speed zones and designated handicapped
and visitor spaces, and when parking always park between the designated
lines.  Landlord reserves the right to
tow away, at the expense of the owner, any vehicle which is improperly parked
or parked in a no-parking zone or in a designated handicapped area, and any
vehicle which is left in any parking lot in violation of the foregoing
regulation.  All vehicles shall be parked
at the sole risk of the owner, and Landlord assumes no responsibility for any
damage to or loss of vehicles.

 

20.                                 Tenant
shall be responsible for and cause the proper disposal of medical waste,
including hypodermic needles, created by its employees.

 

21.                                 No
outside storage is permitted including without limitation the storage of trucks
and other vehicles.

 

22.                                 No
tenant shall be allowed to conduct an auction from the Leased Premises without
the prior written consent of Landlord.

 

It is Landlord’s desire
to maintain in the Building and Common Areas the highest standard of dignity
and good taste consistent with comfort and convenience for tenants.  Any action or condition not meeting this high
standard should be reported directly to Landlord.  The Landlord reserves the right to make such
other and further rules and regulations as in its judgment may from time to
time be necessary for the safety, care and cleanliness of the Building and
Common Areas, and for the preservation of good order therein.  In the event of an express conflict between
the terms and provisions of the Lease and these Building Rules and Regulations,
the terms of the Lease shall govern and prevail in each and every instance.

 

2

 

EXHIBIT E

 

SPECIAL STIPULATIONS

 

The Special Stipulations
set forth herein are hereby incorporated into the body of the lease to which
these Special Stipulations are attached (the “Lease”), and to the extent of any
conflict between these Special Stipulations and the Lease, these Special
Stipulations shall govern and control.

 

1.                                       Option
to Extend.

 

(a)                                  Grant
and Exercise of Option.  Provided
that (i) the Lease is in full force and effect, (ii) no Default has occurred
and is then continuing and no facts or circumstances exist which, with the
giving of notice or the passage of time, or both, would constitute a Default,
and (iii) the tangible net worth of Tenant is at least $10,000,000.00, Tenant
shall have two (2) options to extend the prior Lease Term (the “Prior Term”)
for five (5) years each (each an “Extension Term”).  Each Extension Term shall be upon the same
terms and conditions contained in the Lease except (i) this provision giving
two (2) extension options shall be amended to reflect the remaining options to
extend, if any, (ii) any improvement allowances or other concessions applicable
to the Leased Premises during the Prior Term shall not apply to the Extension Term,
and (iii) the Minimum Annual Rent shall be adjusted as set forth herein (said
adjustment being referred to herein as the “Rent Adjustment”).  Tenant shall exercise each option by
delivering to Landlord, no later than one hundred eighty (180) days prior to
the expiration of the Prior Term, written notice of Tenant’s desire to extend
the Prior Term.   Tenant’s failure to
timely exercise such option shall be deemed a waiver of such option.  If Tenant timely exercises its option to
extend, Landlord and Tenant shall execute an amendment to the Lease (or, at
Landlord’s option, a new lease on the form then in use for the Building)
reflecting the terms and conditions of the Extension Term within thirty (30)
days after Tenant’s exercise of its option to extend.

 

(b)                                 Rent
Adjustment.  The Minimum Annual Rent
for the Extension Term shall be as follows:

 

	
  First Extension
  Term

  	
  $8.15 per square
  foot

  
	
  Second Extension
  Term

  	
  $9.13 per square
  foot

  

 

(c)                                  Monthly
Rental. The Monthly Rental Installments shall be an amount equal to
one-twelfth (1/12) of the Minimum Annual Rent for the Extension Term and shall
be paid at the same time and in the same manner as provided in the Lease.

 

(d)                                 Personal.  The option to extend provided in subparagraph
(a) above is personal to Neenah Paper, Inc. (or its Permitted Transferee) and
shall automatically terminate and be of no further force and effect in the
event that Neenah Paper, Inc. assigns or sublets all or any portion of its
interest in the Lease (except to a Permitted Transferee).

 

2.                                       Compliance
With Law.

 

(a)                                  Existing
Governmental Regulations.  If any
federal, state or local laws, ordinances, orders, rules, regulations or
requirements (collectively, “Governmental Requirements”) in existence as of the
date of the Lease require an alteration or modification of the Leased Premises
(a “Code Modification”) and such Code Modification (i) is not made necessary as
a result of the specific use being made by Tenant of the Leased Premises (as
distinguished from an alteration or improvement which would be required to be
made by the owner of any warehouse-office building comparable to the Building
irrespective of the use thereof by any particular occupant), and (ii) is not
made necessary as a result of any alteration of the Leased Premises by Tenant, such
Code Modification shall be performed by Landlord, at Landlord’s sole cost and
expense, and not included in Operating Expenses.

 

(b)                                 Governmental
Regulations – Landlord Responsibility. 
If, as a result of one or more Governmental Requirements that are not in
existence as of the date of this Lease, it is necessary from time to time
during the Lease Term, to perform a Code Modification to the Building or the
Common Areas that (i) is not made necessary as a result of the specific use
being made by Tenant of Leased Premises (as distinguished from an alteration or
improvement which would be required to be made by the owner of any
warehouse-office building comparable to the Building irrespective of the use
thereof by any particular occupant), and (ii) is not made necessary as a result
of any alteration of the Leased Premises by Tenant, such Code Modification
shall be performed by Landlord and cost thereof shall be included in Operating
Expenses without being subject to any applicable cap on expenses set forth herein.

 

E-1

 

(c)                                  Governmental
Regulations – Tenant Responsibility. 
If, as a result of one or more Governmental Requirements, it is
necessary from time to time during the Lease Term to perform a Code Modification
to the Building or the Common Areas that is made necessary as a result of the
specific use being made by Tenant of the Leased Premises or as a result of any
alteration of the Leased Premises by Tenant (excluding the Tenant Improvements
under the Lease), such Code Modification shall be the sole and exclusive
responsibility of Tenant in all respects; provided, however, that Tenant shall
have the right to retract its request to perform a proposed alteration in the
event that the performance of such alteration would trigger the requirement for
a Code Modification.

 

3.                                       Quiet
Enjoyment.  So long as Tenant is not in
Default hereunder, Landlord agrees that Tenant shall have the right to quietly
use and enjoy the Leased Premises for the Lease Term.

 

4.                                       Cap
on Controllable Expenses. 
Notwithstanding anything in this Lease to the contrary, Tenant will be
responsible for Tenant’s Proportionate Share of Real Estate Taxes, Insurance
Premiums, utilities, snow removal, landscaping (other than of a capital nature)
and charges assessed against or attributed to the Building pursuant to any
applicable declaration of protective covenants (“Uncontrollable Expenses”),
without regard to the level of increase in any or all of the above in any year
or other period of time.  Tenant’s
obligation to pay all other Operating Expenses that are not Uncontrollable
Expenses (herein “Controllable Expenses”) shall be limited to a seven percent
(7%) per annum increase over the amount the Controllable Expenses for the
immediately preceding calendar year would have been had the Controllable
Expenses increased at the rate of seven percent (7%) in all previous calendar
years beginning with the actual Controllable Expenses for the year ending December 31,
2005.

 

5.                                       Building
Compliance.  Landlord represents and
warrants to Tenant that, to Landlord’s actual knowledge, the design and
construction of the Building materially complies with all applicable federal,
state, county and municipal laws, ordinances and codes in effect as of the date
of the Lease, excepting therefrom any requirements related to Tenant’s specific
use of the Leased Premises.

 

6.                                       ADA.  Subject to the last sentence hereof,
Landlord, at its sole cost and expense, shall be responsible for causing the
Building to comply with Title III of the American With Disabilities Act of 1990
(the “ADA”), or the regulations promulgated thereunder (as the ADA is in effect
and pertains to the general public), as of the Commencement Date.  During the Lease Term, Tenant hereby agrees
that it shall be responsible, at its sole cost and expense, for causing the
Building, the Common Area and the Leased Premises to comply with the ADA as a
result of (i) any special requirements of the ADA relating to accommodations
for individual employees, invitees and/or guests of Tenant, and (ii) any
alterations made to the Leased Premises by Tenant (excluding the Tenant
Improvements under the Lease).

 

7.                                       Landlord
Lien Subordination.  Landlord does
hereby agree to subordinate any statutory lien on Tenant’s Property granted to
Landlord to the lien of any institutional lender providing financing to Tenant
that is secured by Tenant’s trade fixtures, equipment, inventory or other
personal property located at the Leased Premises, all pursuant to a landlord
lien subordination agreement in form and substance reasonably satisfactory to
Landlord.

 

8.                                       Parking.   Throughout the term of this Lease and any
extensions thereof, Landlord shall make available to Tenant a number of
automobile parking spaces (on an unassigned, non-exclusive basis) in the
parking area of the Park, said parking area being shown on Exhibit G attached hereto and made a
part hereof, based on a formula of six (6) parking spaces for each 1,000 square
feet of rentable area within the Leased Premises, rounded to the nearest whole
number of spaces.  Such parking shall be
at no additional cost to Tenant.  Tenant
agrees not to overburden the parking facilities and agrees to cooperate with
Landlord and other tenants in the use of parking facilities.  Landlord reserves the right in its absolute
discretion to determine whether parking facilities are becoming crowded and, in
such event, to allocate parking spaces among Tenant and other tenants;
provided, however, that in no event shall the number of parking spaces
allocated to Tenant be decreased.  There
will be no assigned parking unless Landlord, in its sole discretion, may deem
advisable.  No vehicle may be repaired or
serviced in the parking area and any vehicle deemed abandoned by Landlord will
be towed from the project and all costs therein shall be borne by the
Tenant.  All driveways, ingress and
egress, and all parking spaces are for the joint use of all tenants.  There shall be no parking permitted on any of
the streets or roadways located within the Park.

 

9.                                       Confidential
Materials.  Landlord shall use
reasonable efforts to cause its employees, affiliates and the employees of its
affiliates not to disseminate any confidential materials located within the
Leased Premises.  This Special
Stipulation 9 shall survive the expiration or any earlier termination of the
Lease for a period of five (5) years.

 

10.                                 Environmental
Matters.  Notwithstanding anything
set forth in the Lease to the contrary, if and only if Tenant complies with all
of the following conditions and with Article 15 of the Lease, Tenant may

 

2

 

use and store in the
Leased Premises certain Hazardous Substances: 
(a) prior to using or storing any Hazardous Substances in the Leased
Premises, Tenant delivers to Landlord written notice setting forth the name and
quantity of all such Hazardous Substances, together with the Materials Safety
Data Sheets (the “MSDS Sheets”) for such Hazardous Substances (to the extent
not previously delivered to Landlord), (b) Tenant takes all precautions
necessary or advisable and uses its best efforts to prevent the dissemination
of any Hazardous Substances outside of the Leased Premises, (c) Tenant uses and
stores all Hazardous Substances in accordance with the MSDS Sheets that Tenant
provides to Landlord, (d) Tenant does not use or store any Hazardous Substances
in a manner that would cause the Leased Premises to become subject to
regulation as a hazardous waste treatment, storage or disposal facility under
the Resource Conservation and Recovery Act (“RCRA”) or the regulations
promulgated thereunder, (e) Tenant shall not use or store any Hazardous
Substances in a manner as to cause Tenant to become regulated as a generator
under RCRA other than as a “Conditionally Exempt Small Quantity Generator”,
which shall mean the current RCRA definition of a generator of not more than
100kg. of hazardous wastes per month, and (f) if, following a review of the
MSDS Sheets by Landlord’s environmental consultant, such consultant recommends
any alterations to the Leased Premises due to the volatile nature of such
Hazardous Substances (e.g. secondary containment), Tenant shall either (i)
withdraw its request to use or store such Hazardous Substances in the Leased
Premises, or (ii) make such alterations, at Tenant’s sole cost, promptly
following Landlord’s request.  If
Landlord requests any alterations to the Leased Premises pursuant to clause (f)
above, at the time Landlord makes such request, Landlord shall specify whether
Tenant will be required to remove such alterations upon the expiration or
earlier termination of the Lease.

 

11.                                 Option
to Terminate.

 

(a)                                  Termination
Right.  Landlord and Tenant
acknowledge that as of the date hereof, Tenant is a wholly-owned subsidiary of
guarantor.  Landlord and Tenant further
acknowledge that Guarantor intends to spin-off Tenant, at which time Tenant
will be a publicly traded company unaffiliated with Guarantor.  The consummation of said spin-off is referred
to herein as the “Closing.”  Provided
that the Closing has not theretofore occurred, Tenant shall have the right to
terminate the Lease by delivering written notice of such termination (the “Termination
Notice”) to Landlord on or before April 1, 2005, and together with such
Termination Notice, Tenant shall deliver to Landlord as an agreed upon
termination fee the amount of $364,976.00 (the “Termination Fee”).  Landlord agrees, however, that (i) the
Termination Fee shall be reduced by the amount of any unpaid portion of the
Tenant Allowance, and (ii) if the Termination Notice is delivered prior to the
construction and installation of the Tenant Improvements, Tenant shall have no
right to construct and install any of the Tenant Improvements and the
Termination Fee shall be reduced by $85,134.00. 
If Tenant terminates the Lease pursuant to this subsection (a),
such termination shall be effective as of the forty-fifth (45th) day
following Tenant’s delivery of the Termination Notice.

 

(b)                                 Personal.  The termination option provided in
subparagraph (a) above is personal to Neenah Paper, Inc. and shall
automatically terminate and be of no further force and effect in the event that
Neenah Paper, Inc. assigns or sublets all or any portion of its interest in the
Lease.

 

12.                                 Release
of Guaranty.

 

(a)                                  If
the Closing, as described in Special Stipulation 11 above, should occur, Tenant
agrees to notify Landlord promptly in writing (the “Closing Notice”).  Upon Landlord’s receipt of the Closing
Notice, Tenant’s right to terminate the Lease pursuant to Special Stipulation
11 above, shall be deemed waived.  If
Tenant delivers the Closing Notice as aforesaid, the Unconditional Guaranty of
Lease (the “Guaranty”) shall be null and void and have no further force or
effect upon the later to occur of the following: (i) Tenant’s delivery of the
Security Deposit pursuant to Section 4.01 of this Lease, and (ii)
if a default has occurred under this Lease of which Guarantor has been given
notice and such default is then continuing, at such time as such default has
been cured (provided, however, that the Guaranty shall not be effective with
respect to matters accruing after Landlord’s receipt of the Closing Notice).

 

(b)                                 If
this Lease is terminated pursuant to Special Stipulation 11 above, the Guaranty
shall terminate and be of no force upon the later to occur of the
following:  (i) Tenant’s delivery of the
Termination Notice together with the $364,976.00 fee, and (ii) if a default has
occurred under the Lease that is then continuing, at such time as such default
has been cured.

 

13.                                 Security
Interest.  Landlord does hereby agree
to subordinate any statutory lien on Tenant’s Property granted to Landlord to
the lien of any institutional lender providing financing to Tenant that is
secured by Tenant’s trade fixtures, equipment, inventory or other personal
property located at the Leased Premises, all pursuant to a landlord lien
subordination agreement in form and substance reasonably satisfactory to
Landlord.

 

3

 

EXHIBIT F

 

FORM OF UNCONDITIONAL GUARANTY OF LEASE

 

This Unconditional
Guaranty of Lease is entered into as of the       
day of                 ,
2004, by the undersigned, KIMBERLY-CLARK CORPORATION, a Delaware corporation (“Guarantor”).

 

R E C I T A L S

 

WHEREAS,
Neenah Paper, Inc., a Delaware corporation (“Tenant”) desires to enter into a
certain Lease with Duke Realty Limited Partnership, an Indiana limited
partnership (“Landlord”), for certain space described therein and more commonly
known as 655 Hembree Park Drive, Suite G, Roswell, Georgia 30076 (the “Lease”); and

 

WHEREAS,
Landlord is willing to enter into the Lease only if it receives a guaranty of
obligations thereunder from the undersigned upon the terms and conditions set
forth below; and

 

WHEREAS,
in order to induce Landlord to enter into the Lease, Guarantor is willing and
agrees to enter into this Unconditional Guaranty of Lease upon the following
terms and conditions; and

 

WHEREAS,
Guarantor is a related company to Tenant as of the date hereof and will be
benefited by the Lease;

 

NOW,
THEREFORE, in consideration of the foregoing recitals and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Guarantor agrees as follows:

 

1.                                       Guarantor
hereby becomes surety for and unconditionally guarantees (i) the prompt payment
of all rents, additional rents and other sums to be paid by Tenant under the
terms of the Lease; and (ii) the performance by Tenant of the covenants,
conditions and terms of the Lease (such payment and performance to be referred
to collectively as “Obligations”).  In the event Tenant defaults in the
performance of the Obligations during the term of the Lease, Guarantor hereby
promises and agrees to pay to Landlord all rents and any arrearages thereof and
any other amounts that may be or become due and to fully satisfy all conditions
and covenants of the Lease to be kept and performed by Tenant.

 

2.                                       As
conditions of liability pursuant to this Guaranty, Guarantor hereby
unconditionally waives (a) any notice of default by Tenant in the payment of rent
or any other amount or any other term, covenant or condition of the Lease; (b)
any requirement that Landlord exercise or exhaust its rights and remedies
against Tenant or against any person, firm or corporation prior to enforcing
its rights against Guarantor, and (c) any and all rights of reimbursement,
indemnity, subrogation or otherwise which, upon payment under this Guaranty,
Guarantor may have against Tenant.

 

3.                                       Landlord
may, without notice to Guarantor, and Guarantor hereby consents thereto, (a) modify
or otherwise change or alter the terms and conditions of the Lease; and (b)
waive any of its rights under the Lease or forbear to take steps to enforce the
payment of rent or any other term or condition of the Lease against Tenant.

 

4.                                       Guarantor
hereby agrees, upon the request of Landlord, to execute, acknowledge and
deliver to Landlord a statement in writing certifying, if this be the fact,
that this Guaranty of the referenced Lease is unmodified, in full force and
effect, and there are no defenses or offsets thereto; certifying that the
referenced Lease is unmodified, in full force and effect, and there are no
defenses or offsets to such Lease (or if modified, that the Lease is in full
force and effect as modified and that this Guaranty extends to and fully covers
such Lease, as modified); and certifying the dates to which Minimum Annual
Rent, Annual Rental Adjustment, if any, and any other additional rentals have
been paid.

 

5.                                       In
the event Tenant fails during the term of this Lease to pay any rent, additional
rent or other payments when due or fails to comply with any other term,
covenant or condition of the Lease, Guarantor, upon demand of Landlord, shall
make such payments and perform such covenants as if they constituted the direct
and primary obligations of Guarantor; and such obligations of Guarantor shall
be due with attorneys’ fees and all costs of litigation and without deduction
or offset.

 

6.                                       The
rights and obligations created by this Guaranty shall inure to the benefit of
and be binding upon the successors, assigns and legal representatives of
Guarantor and Landlord.

 

F-1

 

7.                                       Anything herein or in the Lease to the
contrary notwithstanding, Guarantor hereby acknowledges and agrees that any security
deposit or other credit in favor of the Tenant may be applied to cure any
Tenant default or offset any damages incurred by Landlord under the Lease, as
Landlord determines in its sole and absolute discretion, and Landlord shall not
be obligated to apply any such deposit or credit to any such default or damages
before bringing any action or pursuing any remedy available to Landlord against
Guarantor.  Guarantor further
acknowledges that its liability under this Guaranty shall not be affected in
any manner by such deposit or credit, or Landlord’s application thereof.

 

8.                                       In
the event that Guarantor is no longer a publicly traded company with publicly
available financial statements, Guarantor shall provide to Landlord upon
request, a copy of Guarantor’s most recent financial statements (certified and
audited, if available).  Such financial
statements shall be signed by Guarantor (or an officer of Guarantor, if
applicable) who shall attest to the truth and accuracy of the information set
forth in such statements.  All financial
statements provided by Guarantor to Landlord hereunder shall be prepared in
conformity with generally accepted accounting principles, consistently applied.

 

9.                                       If
the Lease is terminated pursuant to Special Stipulation 11 of Exhibit E
to the Lease, this Unconditional Guaranty of Lease shall terminate and be of no
force upon the later to occur of the following: 
(i) Tenant’s delivery of the Termination Notice (as defined in said
Special Stipulation 11) together with a fee in the amount of $364,976.00, and
(ii) if a default has occurred under the Lease that is then continuing, at such
time as such default has been cured.

 

10.                                 If
the Closing, as defined in Special Stipulation 12 of Exhibit E to the Lease,
occurs, this Unconditional Guaranty of Lease shall terminate upon the later to
occur of (a) Tenant’s delivery to Landlord of the Security Deposit pursuant to Section 4.01
of the Lease, and (b) if a default has occurred under the Lease of which
Guarantor has been given notice and such default is then continuing, at such
time as such default has been cured (provided, however, that this Unconditional
Guaranty of Lease shall not be effective with respect to matters accruing after
Landlord’s receipt of the Closing Notice, as defined in Special Stipulation 12
of Exhibit E to the Lease).

 

IN
WITNESS WHEREOF, Guarantor has executed this Unconditional Guaranty of Lease as
of the date set forth above.

 

	
  Signed, sealed
  and delivered

  	
  GUARANTOR:

  
	
  as to Landlord,
  in the

  	
   

  
	
  presence of: 

  	
  KIMBERLY-CLARK
  CORPORATION, a

  Delaware Corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
  Unofficial
  Witness 

  	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Notary Public

  	
   

  	
  Attest:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
								

 

2

 

EXHIBIT G

 

PARKING AREA

 

[TO BE ADDED]

 

G-1

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