Document:

Exhibit 10.7(H)

 

FOURTH AMENDMENT TO LEASE AGREEMENT

 

THIS
FOURTH AMENDMENT TO LEASE AGREEMENT (“Fourth Amendment”), is made on                             
    , 20    , and effective as set
forth herein, by and among the City of Evansville, Indiana (the “City”), acting
by and through the Redevelopment Commission of the City of Evansville, Indiana,
organized and operating under IC 36-7 14 (“Commission”), Aztar Indiana Gaming
Company, LLC, a limited liability company, organized and existing under the
laws of the State of Indiana (“Tenant”), and Aztar Corporation, a corporation
organized and existing under the laws of the State of Delaware (“Guarantor”)
(City, Commission, Tenant and Guarantor, collectively, the “Parties”).

 

Recitals

 

A.                                   The Commission,
Tenant and Guarantor are the parties in interest to that certain Evansville
Riverboat Landing Lease dated May 2, 1995 (the “Original Lease”), as
amended by an Amendment to Lease Agreement effective December 1, 2001 (the
“First Amendment”), as further amended by that certain Second Amendment to
Lease Agreement dated August 27, 2003 (the “Second Amendment”), as further
amended by those certain Memorandums of Understanding made effective as of December 1,
2004, March 15, 2005, May 12, 2005, and June 7, 2005, respectively
(the “MOUs”), as further amended by that certain Third Amendment to Lease
Agreement effective December 1, 2005 (the “Third Amendment”) (the Original
Lease, the First Amendment, the Second Amendment, the MOUs, and the Third Amendment,
collectively, the “Lease”).

 

B.                                     On May 5,
2008, Tenant and Guarantor and certain of their affiliates each filed a
petition with the United States Bankruptcy Court for the District of Delaware
(the ““Bankruptcy Court”“) for relief under chapter 11 of the Bankruptcy Code.

 

C.                                     Tenant entered
into a Durable Power of Attorney for the Designation and Appointment of
Attorney in Fact for the Purposes of Conducting Riverboat Gambling Operations
and Related Activities (the “POA Agreement”) under which Robert T. Dingman
(since succeeded by Trinity Hill Group, LLC) was appointed as attorney-in-fact
(“Attorney-in-Fact”) to exercise and perform certain activities and powers
regarding Tenant and its riverboat gambling operations and related business
activities for and on behalf of Tenant. 
The POA Agreement was approved and ordered by the Indiana Gaming
Commission (IGC) with an effective date of April 2, 2008 in Order 2008-37
(the “IGC Order”).  The provisions of the
POA Agreement continue in effect as of the date of execution of this Fourth
Amendment.  Under the IGC Order, the POA
Agreement is to remain in effect until the IGC terminates the power and
authority of the Attorney-in-Fact by an appropriate written order.

 

D.                                    In furtherance
of the objectives of the Indiana redevelopment laws and the Downtown
Redevelopment Plan, and in order to induce Tenant to exercise its right and
option to extend the term of the Lease for an additional term of five years
from December 1, 2010 to November 30, 2015 (the “Second Extended Term”),
Commission and Tenant desire to amend the Lease to reflect the agreements set
forth herein subject to the terms and conditions set forth herein.

 

1

 

NOW,
THEREFORE, for good and valuable consideration, receipt of which is hereby
acknowledged, the Parties agree to amend the Lease as follows.

 

1.                                       Effectiveness
of the Amendment.  The Lease
shall be amended as set forth in this Fourth Amendment on the date the last of
the following conditions, which the Parties acknowledge and intend to operate
as conditions precedent, are satisfied (the “Amendment Effective Date”):  (a) The IGC confirms in writing that
Tenant is granted a license (by renewal or otherwise) issued pursuant to IC
4-33-6 to own and operate a riverboat from and after the date hereof; (b) Tenant
has assumed the Lease pursuant to 11 U.S.C. §365; (c) the POA Agreement is
terminated following the issuance of a written order of the IGC terminating the
power and authority of the Attorney-in-Fact; (d) the Bankruptcy Court approves
the Fourth Amendment, by order or as part of a confirmed chapter 11 plan (or
such approval becomes moot as the result of the occurrence set forth in the
following clause); and (e) the chapter 11 plan of Tenant and Guarantor
becomes effective (the “Plan Effective Date”) with: (i) Columbia Sussex
Corporation and; (ii) William J. Yung III having no control, ownership or
decision-making authority in Tenant (or its successor), Guarantor (or its
successor) or any of their affiliates after the Plan Effective Date.  Tenant and Guarantor shall each provide
information regarding its ownership and control to City upon its reasonable
request.

 

2.                                       Second Extended
Term.  Subject to the occurrence of
the Amendment Effective Date, Tenant shall have exercised the right to extend
the Lease through and including the Second Extended Term without any further
action of notice of Tenant or Guarantor to the City and Commission that the
Lease is so extended.

 

3.                                       Guaranteed
Prepayment Credits.  Tenant
shall make two payments, at City’s direction, to the Evansville Bond Bank or to
such other City entity as the City Controller may direct, which shall
constitute prepayments of Percentage Rent due and payable for the period
between January 2011 and December 2015 (the “Prepayment Period”).
Tenant shall make the first such payment in the amount of Five Million Dollars
($5,000,000) on or before that date thirty (30) days after the Plan Effective
Date, said due date hereafter the “First Payment Due Date”. Tenant shall make
the second such payment in the amount of Five Million Dollars ($5,000,000) no
later than December 31, 2010. 
Tenant shall be entitled to recoup the prepayments in the form of a
credit ratably applied at the rate of One Hundred Sixty-Six Thousand Six
Hundred Sixty-Six Dollars and Sixty-Seven Cents ($166,666.67) per month against
Percentage Rent payable during each of the sixty (60) months of the Prepayment
Period (the “Prepayment Credit”).  Such
Prepayment Credit shall be applied in the calculation of Net Projected Percentage
Rent and Actual Percentage Rent.

 

4.                                       City
Development Projects.  City and
Commission desire to create jobs, increase tax revenues, provide direct
economic benefits and promote tourism and additional economic development by
promoting the construction or acquisition or real estate or facilities or
capital projects to be owned by City, Commission, or parties approved by the
Commission.  Tenant agrees, on or before
the later of (a) January 31, 2010, or (b) thirty (30) days after
the Plan Effective Date, to pay into escrow or another restricted account Three
Million Five Hundred Thousand and 00/100 Dollars ($3,500,000.00) (the “Economic
Development Funds”).  The

 

2

 

Economic
Development Funds shall be accessed upon written notice solely by City to
Tenant, provided that such notice certifies that the Economic Development Funds
are to be used only to pay, allow the City or a City entity to pay or reimburse
actual expenditures on the City’s downtown arena project or other downtown
economic development projects located within one (1) mile of the Leased
Premises.

 

5.                                       Pedestrian
Bridge.  Tenant shall construct a
pedestrian bridge from the City of Evansville “Entertainment District” to the
Leased Premises at an estimated cost of approximately Three Million and 00/100
Dollars ($3,000,000.00).  Tenant shall
commence design development work as soon as is practicable following the Plan
Effective Date and use its best efforts to have construction of such pedestrian
bridge completed and open to public use on or before the third (3rd) anniversary of the Plan
Effective Date.  After the first (1st) anniversary of the Plan
Effective Date and subject to the City’s discretion, Tenant shall deliver a
presentation and status report on the pedestrian bridge project to the
Commission.  Tenant shall own and shall
be solely responsible for the design, development, construction, operation,
maintenance, and repair of the pedestrian bridge.  Tenant’s obligations with respect to
construction of the pedestrian bridge are subject to acquisition by Tenant or
Tenant’s contractors, sub-contractors, agents or representatives of all local,
state or federal governmental permits required or necessary for said
construction.  Tenant agrees to use
reasonable and good faith efforts to obtain said permits and City and the
Commission agree to assist and support Tenant with respect to said permit
acquisition in a reasonable and expeditious manner.

 

6.                                       Rent Schedule. Clause B of
Schedule 4.01 set forth in the Third Amendment to the Lease shall be deleted in
its entirety and replaced with the following:

 

Second and Third Extended Terms.  During the Second Extended Term
and Third Extended Term, if applicable, Tenant shall make rental payments
consisting solely of Percentage Rent, based on Tenant’s Adjusted Gross Receipts
(“AGR”) as defined in the IC 4-33 et seq. (the “Act”)
showing in detail all receipts of Tenant’s gaming operations and an itemized
statement of the allowable deductions therefrom for the Lease Year to date on a
cumulative basis, which shall be calculated and determined as follows:

 

(i)                                     two percent (2%) of the AGR for the Lease Year up to Twenty-Five Million
Dollars ($25,000,000), plus

(ii)                                  four percent (4%) of the AGR for the Lease Year that is in excess of
Twenty-Five Million Dollars ($25,000,000) up to Fifty Million Dollars
($50,000,000), plus

(iii)                               six percent (6%) of the AGR for the Lease Year that is in excess of Fifty
Million Dollars ($50,000,000) up to Seventy-Five Million Dollars ($75,000,000),
plus

(iv)                              eight percent (8%) of the AGR for the Lease Year that is in excess of
Seventy-Five Million Dollars ($75,000,000) up to One Hundred Million Dollars
($100,000,000), plus

(v)                                 during Lease Years of the Second Extended Term, twelve percent (12%) of the
AGR for the Lease Year that is in excess of One Hundred Million Dollars
($100,000,000), and

 

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(vi)                              during Lease Years of the Third Extended Term, ten percent (10%) of the AGR
for the Lease Year that is in excess of One Hundred Million Dollars
($100,000,000).

 

Within twenty (20) days after the end of each month, Tenant
shall deliver a statement of AGR to City. 
As each month’s statement of AGR is delivered to City, the amount of the
Percentage Rent for the Lease Year to date will be calculated and Tenant shall
be credited against the cumulative liability for the Percentage Rent paid for
the Lease Year through the last day of the prior month and any balance of
Percentage Rent due after said credits shall be paid at that time.  In no event shall the Percentage Rent ever be
less than Two Million and 00/100 Dollars ($2,000,000.00) for any Lease
Year.  Each monthly statement of AGR
shall be certified by the chief financial officer of Tenant to be true, correct
and complete.  Not later than ninety (90)
days after the end of each Lease Year, Tenant shall deliver to City a complete
statement showing in reasonable detail all items of Gross Receipts (as defined
in IC 4-33-2-11), and all deductions therefrom as set forth in IC 4-33-2-2,
together with all other receipts derived by Tenant during the Lease Year
certified as being true, correct and complete by an independent Certified
Public Accountant approved for such purpose by City, all as described in
Sections 4.04 and 4.06 of the Lease.

 

7.                                       Future
Rent. Without any modification to Tenant’s rights to
extended terms set forth in Section 1 of the Third Amendment, Clause C of
Schedule 4.01 set forth in the Third Amendment to the Lease shall be stricken
from the Lease and be of no further force and effect.

 

8.                                       Naming
Rights.  Tenant and
City agree to enter into good faith discussions regarding naming rights and
advertising if City builds an arena as referenced above in Section 4.

 

9.                                       Tenant’s
Commitments to Capital Improvements; Workforce Levels, and Operational Targets.  Tenant shall satisfy its
commitments related to capital improvements, workforce levels, and operational
targets consistent with Tenant’s business plan upon which its effective chapter
11 plan is based, subject to reasonable adjustments based on material
variations in Tenant’s financial performance. Tenant shall provide City with
documentation reasonably requested by and reasonably satisfactory to City
substantiating Tenant’s adjustment of modification of any such commitment.  City acknowledges that such documentation
will include confidential information, which City agrees to keep and maintain
as confidential.

 

10.                                 Feasibility
Study.  Tenant
agrees to undertake a study of the feasibility of substantially remodeling
certain portions of the Leased Premises in connection with its licensed
riverboat gaming operations, including, but not limited to, the feasibility of
locating a new vessel in the Leased Premises (the “Study”).  The Parties shall mutually agree upon a consultant
to perform the Study.  Thereafter, the
Study shall commence on or before July 1, 2014, and shall be completed and
a final report delivered to the Parties on or before December 31, 2014.

 

11.                                 Payment of
Prior Costs Incurred by the City.  City acknowledges that Tenant has already
reimbursed City for City’s out-of-pocket costs in connection with its quiet
title action involving Columbia Sussex Corporation.

 

4

 

12.                                 Binding
Effect.  This Fourth
Amendment binds the parties hereto and inures to the benefit of their
respective successors or permitted assigns. 
Subsequent to the Plan Effective Date, upon a transfer or sale of the
riverboat gaming license, Tenant shall assign the Lease and this Fourth
Amendment to the transferee contingent upon the transferee’s licensing by the
Indiana Gaming Commission (“IGC”).  The
parties acknowledge the applicability of 68 IAC 1-4 et seq. in
the event of an application to transfer Tenant’s gaming license.

 

13.                                 Lease in
Full Force and Effect.  Except as expressly amended by this Fourth
Amendment, the Lease shall remain unchanged and in full force and effect, as
amended herein.

 

14.                                 Affirmation of Guaranty.  Guarantor hereby unconditionally guarantees
and promises to perform and reaffirms its obligations under the Lease, as
amended by this Fourth Amendment to the Lease consistent with this Fourth
Amendment.

 

15.                                 Third Party Approvals.  This Fourth Amendment is subject to approval
by the Bankruptcy Court, any lender to Tenant or to Guarantor and by the
Indiana Gaming Commission, as may be required.

 

16.                                 Authorization. 
Subject to authority of the Bankruptcy Court, the Parties respectively
represent to one another that the execution, delivery and performance of this
Fourth Amendment have been duly authorized and this Fourth Amendment
constitutes the legally binding obligation of the respective Parties.

 

17.                                 Definitions. 
All of the capitalized terms used herein, but not defined in this Fourth
Amendment shall have the meaning set forth in the Project Agreement and the
Lease.

 

 [THE REMAINDER
OF THIS PAGE IS LEFT INTENTIONALLY BLANK]

 

5

 

IN WITNESS WHEREOF, the parties have caused their duly
authorized representatives to execute this Fourth Amendment to Lease Agreement
as of the day and year first above written.

 

	
  AZTAR INDIANA GAMING COMPANY, LLC

  	
   

  	
  AZTAR CORPORATION

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Printed Name:

  	
   

  	
   

  	
  Printed Name:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  

 

 

REDEVELOPMENT COMMISSION OF  

THE CITY OF EVANSVILLE, INDIANA

 

6Exhibit 10.8

 

SUBLEASE AGREEMENT

 

BY and BETWEEN

 

HOLLAND &  HART
LLP,

a Colorado limited liability partnership, 

as Sublandlord

 

AND

 

TROPICANA ENTERTAINMENT LLC,

a Delaware limited liability company, 

as Subtenant

 

 

SUBLEASE
AGREEMENT

BASIC
LEASE INFORMATION

 

	
  Sublandlord:

  	
   

  	
  Holland &  Hart LLP, a
  Colorado limited liability partnership, as successor in interest to Hale Lane
  Peek Dennison and Howard Professional Corporation

  
	
   

  	
   

  	
   

  
	
  Subtenant:

  	
   

  	
  Tropicana Entertainment
  LLC, a Delaware limited liability company

  
	
   

  	
   

  	
   

  
	
  Building:

  	
   

  	
  3930 Howard Hughes Parkway

  
	
   

  	
   

  	
  Las Vegas, Nevada 89109

  
	
   

  	
   

  	
   

  
	
  Sublease Premises:

  	
   

  	
  Approximately (and, for
  purposes of calculating any amounts due hereunder, deemed to be) 18,035
  rentable square feet (“RSF”) of space, consisting of the entire fourth (4th)
  floor of the Building.

  
	
   

  	
   

  	
   

  
	
  Sublease Commencement
  Date:

  	
   

  	
  January 1, 2009 (subject
  to Section 3.B below).

  
	
   

  	
   

  	
   

  
	
  Term:

  	
   

  	
  Approximately seven (7) years
  and two (2) months, expiring on February 29,
  2016.

  
	
   

  	
   

  	
   

  
	
  Base Rent:

  	
   

  	
  $3.00 Full Service Gross
  per RSF per month, increased annually by 3%, as follows:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (a)

  	
  January 1, 2009 through December 1,
  2009

  	
  $54,105.00 per month

  
	
   

  	
   

  	
  (b)

  	
  January 1, 2010 through December 1,
  2010

  	
  $55,728.15 per month

  
	
   

  	
   

  	
  (c)

  	
  January 1, 2011 through December 1,
  2011

  	
  $57,399.99 per month

  
	
   

  	
   

  	
  (d)

  	
  January 1, 2012 through December 1,
  2012

  	
  $59,121.99 per month

  
	
   

  	
   

  	
  (e)

  	
  January 1, 2013 through December 1,
  2013

  	
  $60,895.65 per month

  
	
   

  	
   

  	
  (f)

  	
  January 1, 2014 through December 1,
  2014

  	
  $62,722.52 per month

  
	
   

  	
   

  	
  (g)

  	
  January 1, 2015 through December 1,
  2015

  	
  $64,604.19 per month

  
	
   

  	
   

  	
  (h)

  	
  January 1, 2016 through February
  1, 2016

  	
  $66,542.32 per month

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Security Deposit:

  	
   

  	
  An amount equal to the
  first (1st) month’s
  Rent. 

  
									

 

Subtenant’s Pro Rata Share:                                    Sixty-six and 09/100 percent
(66.09%) (based on 18,035 RSF in the Sublease Premises and 27,285 RSF in the
Master Premises).

 

Addresses
for Notices:

 

	
   

  	
   

  	
  Sublandlord:

  	
  HOLLAND & HART LLP

  	
   

  
	
   

  	
   

  	
   

  	
  3800 Howard Hughes
  Parkway, Suite 1000

  	
   

  
	
   

  	
   

  	
   

  	
  Las Vegas, Nevada 89109

  	
   

  
	
   

  	
   

  	
   

  	
  Attn: Administrative
  Partner

  	
   

  

 

i

 

	
   

  	
   

  	
  with a copy to :

  	
  HOLLAND & HART LLP

  	
   

  
	
   

  	
   

  	
   

  	
  555 Seventeenth St., Suite 3200

  	
   

  
	
   

  	
   

  	
   

  	
  Denver, CO 80202

  	
   

  
	
   

  	
   

  	
   

  	
  Attn: Director of
  Administration

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Subtenant:

  	
  Prior to Commencement
  Date:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  TROPICANA ENTERTAINMENT
  LLC 

  	
   

  
	
   

  	
   

  	
   

  	
  3801 Las Vegas Blvd. So.

  	
   

  
	
   

  	
   

  	
   

  	
  Las Vegas, Nevada 89109 

  	
   

  
	
   

  	
   

  	
   

  	
  Attention: Legal Dept. 

  	
   

  
	
   

  	
   

  	
   

  	
  thereafter, the Premises.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Broker:

  	
   

  	
  Colliers Nevada LLC, d/b/a
  Colliers International, for Sublandlord, and CB Richard Ellis, for Subtenant.

  
						

 

ii

 

SUBLEASE AGREEMENT

 

This
Sublease Agreement (this “Sublease”) is
made as of November   , 2008 (“Effective
Date”) by and between Holland &  Hart LLP, a Colorado limited
liability partnership (“Sublandlord”),
and Tropicana Entertainment LLC, a Delaware limited liability company (“Subtenant”), with reference to the following facts and is as
follows:

 

RECITALS

 

A.             Sublandlord is the tenant under
that certain Office Lease dated June 1, 2005 (“Original Lease”),
as amended by that certain First Amendment dated July 27, 2007 (“First Amendment”) (Original Lease and First Amendment are
collectively, “Master Lease”), pursuant to which
3930 HHP LLC, a Delaware limited liability company (“Master Landlord”)
leased to Hale Lane Peek Dennison and Howard Professional Corporation, a Nevada
professional corporation (“Hale Lane”), as Tenant, the real property located on
the fourth floor, known as Suite 400, and the real property located on the
third floor, known as Suite 360, within the building commonly known as “3930
Howard Hughes Parkway” (“Building”) and
located in Las Vegas, Nevada 89169 (“Master Premises”).
Hale Lane’s rights and obligations as Tenant under the Master Lease have been
assigned to and assumed by Sublandlord hereunder, by virtue of an Assignment
and Assumption Agreement between those parties dated as of July 1, 2008.

 

B.             Sublandlord desires
to sublet to Subtenant and Subtenant desires to sublet from Sublandlord, on the
terms and conditions set forth herein, the entirety of the fourth floor of the
Building, consisting of approximately (and, for purposes of determining any
amounts due hereunder, deemed to be) 18,035 rentable square feet (“RSF”) (“Sublease Premises”),
as outlined on the floor plan attached hereto as Exhibit “A”  and
incorporated herein by reference (“Floor Plan”).

 

C.             This Sublease is
subject and subordinate to the Master Lease, attached hereto as Exhibit “B” and incorporated herein by reference.

 

D.             All capitalized
terms not otherwise defined herein shall have the meanings ascribed to such
terms in the Master Lease.

 

NOW,
THEREFORE, Sublandlord and Subtenant agree as follows:

 

1.              Sublease.  Sublandlord,
for and in consideration of the rents herein reserved and of the covenants and
agreements herein contained on the part of the Subtenant to be performed,
hereby subleases the Sublease Premises to Subtenant, and Subtenant hereby
accepts and subleases the Sublease Premises from Sublandlord, together with the
non-exclusive right to use the Common Areas as set forth in the Master Lease.

 

1

 

2.             Term and Early
Access: Necessary Approvals.

 

A.            This Sublease shall
govern the relationship between Sublandlord and Subtenant with respect to the
Sublease Premises from the Effective Date through the last day of the Term, unless
terminated early in accordance with this Sublease. The term of this Sublease
shall be for seven (7) years and two (2) months (“Term”), commencing upon January 1, 2009 (“Commencement Date”), and expiring February 29, 2016.
Notwithstanding the foregoing, Subtenant may commence early occupation of the
Sublease Premises for the limited purpose of installing its furniture, fixtures
and equipment therein, if Sublandlord has vacated the Premises prior to the Commencement
Date (“Early Occupancy”). Subtenant’s Early
Occupancy shall be subject to all of the provisions of this Lease, except that
Subtenant shall not be obligated to pay Rent until the Commencement Date. Early
Occupancy of the Sublease Premises by Subtenant shall not advance the
expiration date of this Sublease. Notwithstanding any other provision in this
Sublease to the contrary, if the Sublease is terminated for any reason other
than as a result of a default by Subtenant prior to the expiration of the Term,
the unearned portion of all Rents paid in advance by Subtenant shall be
refunded to Subtenant, based on a daily proration of such amounts.

 

B.            The validity of this
Sublease shall be subject to (i) Sublandlord obtaining the Master
Landlord’s prior written consent hereto pursuant to the terms of the Master
Lease, and (ii) Subtenant’s obtaining approval of this Sublease by the
Bankruptcy Court in Subtenant’s pending Chapter 11 bankruptcy proceeding, Case No. 08-10856
in the United States Bankruptcy Court for the District of Delaware (together,
the “Necessary Approvals”). If either of the
Necessary Approvals have not been obtained as required above and a copy thereof
delivered to the party which is not required to obtain the same on or before December 31,
2008, then the date upon which the Term commences shall be automatically
extended for up to thirty (30) days, until such Necessary Approvals have both
been obtained. If both of the Necessary Approvals still have not been obtained
by January 31, 2009, then unless the parties agree in writing to further extend
the Commencement Date, this Sublease shall automatically terminate without
action by either party and neither party shall have any liability to the other
under this Sublease, and any Security Deposit or other deposit made by
Subtenant to Sublandlord shall be immediately returned to Subtenant.

 

3.             Rent.

 

A.            Payment. As
consideration for this Sublease, commencing on the Commencement Date, Subtenant
shall pay to Sublandlord as base rent, without any demand, setoff or deduction,
at Sublandlord’s address stated in the Basic Lease Information, or at any other
place Sublandlord designates by notice to Subtenant, Base Rent in the amounts
set forth in the Basic Lease Information above (“Base Rent”),  Subtenant’s Pro Rata Share of
Excess Operating Expenses (defined below) and any and all other sums payable by
Subtenant hereunder (collectively “Rent”). As used
herein, “Full Service Gross” means that
Sublandlord absorbs (and includes in the Base Rent) the cost of all building
operations and services for the Base Year while accounting for reimbursement
for any excess costs that may occur in later years. The monthly Base Rent and
Subtenant’s Pro Rata Share of Excess Operating Expenses shall be due and
payable in advance on the first day of each calendar month without notice or
demand,

 

2

 

provided
that the first installment of Base Rent shall be payable on the Effective Date.
All other items of Rent shall be due and payable by Subtenant on or before
twenty-five (25) days after billing by Sublandlord. All payments of Rent shall
be by good and sufficient check or by other means (such as automatic debit or
electronic transfer) acceptable to Sublandlord. If the Commencement Date occurs
on a day other than the first day of a calendar month, the monthly Base Rent
and Subtenant’s Pro Rata Share of any Excess Operating Expenses for the month
shall be prorated on a daily basis based on a three hundred sixty (360) day
calendar year. Sublandlord’s acceptance of less than the amount of Rent due
shall be considered a payment on account of the earliest Rent due. No
endorsement or statement on a check or letter accompanying a check or payment
shall be considered an accord and satisfaction, and either party may accept
such check or payment without such acceptance being considered a waiver of any
rights such party may have hereunder.

 

B.            Excess Operating
Expenses.  Subtenant shall pay
Subtenant’s Pro Rata Share of the amount, if any, by which Operating Expenses
(defined in the Master Lease) payable (after giving effect to all caps and
limitations set forth in the Master Lease) by Sublandlord under the terms of
the Master Lease for each calendar year during the Term exceed Operating
Expenses payable (after giving effect to all caps and limitations set forth in
the Master Lease) by Sublandlord under the terms of the Master Lease for the
Base Year of 2008 (“Excess Operating Expenses”),
grossed up, in the case of to reflect a one hundred percent (100%) occupancy
level and a full assessment of property taxes, as more particularly set forth
in and subject to the terms of the Master Lease. The Master Lease provides for
payment by Sublandlord of Operating Expenses on the basis of an estimate;
therefore, as and when adjustments between estimated and actual Operating
Expenses are made under the Master Lease, the obligations of Sublandlord and
Subtenant will be adjusted in the same manner. If this adjustment occurs after
the expiration or earlier termination of this Sublease, the obligations of
Sublandlord and Subtenant under this subsection will survive such expiration or
termination. Sublandlord shall, on reasonable request by Subtenant, furnish
Subtenant with copies of all statements submitted by Master Landlord of the
actual or estimated Operating Expenses during the Term of this Sublease.
Sublandlord may also, in its sole judgment, after reasonable request of
Subtenant, elect to audit Master Landlord’s Operating Expenses as set forth in
the Master Lease.

 

4.             Security Deposit.
 Upon the Effective Date, Subtenant shall
deposit with Sublandlord an amount equal to the first month’s Base Rent as
security for Subtenant’s faithful performance of Subtenant’s obligations under
this Sublease (“Security Deposit”). If Subtenant
fails to pay Base Rent or any other charges when due under this Sublease or
fails to perform any obligations under this Sublease and such failure continues
beyond applicable notice and cure periods, Sublandlord may use any portion of
the Security Deposit for the payment of any Rent or other amount then due and
unpaid, for the payment of any other sum for which Sublandlord may become
obligated because of Subtenant’s default or breach, or for any loss sustained
by Sublandlord as a result of Subtenant’s default or breach. If Sublandlord
uses any portion of the Security Deposit as set forth above, Subtenant shall,
within ten (10) days after written demand by Sublandlord, restore the
Security Deposit to the full amount originally deposited. Subtenant’s failure
to do so will constitute a default under this Sublease. Sublandlord will not be
required to keep the Security Deposit separate from its general accounts and
will have no obligation or liability for payment of interest on the Security
Deposit. If Sublandlord assigns its interest in this

 

3

 

Sublease, Sublandlord shall deliver to its assignee as much of the
Security Deposit as Sublandlord then holds. Within thirty (30) days after the
expiration or termination of this Sublease, provided that Subtenant is not then
in default under this Sublease, the Security Deposit, or as much as remains
that has not been applied by Sublandlord, will be returned to Subtenant or to
the last assignee, if any, of Subtenant’s interest under this Sublease.

 

5.             Use. The
Sublease Premises shall be used and occupied only for the Permitted Use set
forth in the Master Lease, and for no other use or purpose.

 

6.             Condition of
Sublease Premises; Personalty. Sublandlord has made no promise to alter,
remodel or improve the Sublease Premises and no representation respecting the
condition of the Sublease Premises to Subtenant. Subtenant has examined the
Sublease Premises, is fully familiar with its physical condition, and accepts
the Sublease Premises in its then present condition “AS IS” and “WHERE IS” as
of the date of this Sublease with no express or implied warranties; provided,
however, that Sublandlord shall be responsible prior to the Commencement Date
for removing its sign that is currently above the reception desk in the
Sublease Premises and repairing any damage to the wall caused by such removal.
During the Term, Subtenant shall have the use of all of the furniture,
furniture systems, cabling, and other items of personal property located in the
Sublease Premises and listed on Exhibit “C”
attached hereto and incorporated herein by this reference (the “Personalty”) at no charge. Upon the expiration of the term
of this Sublease, or upon any earlier termination of the term or of Subtenant’s
right to possession, Subtenant will remove all of its trade fixtures and
personal property (but not including the Personalty) and surrender the Sublease
Premises broom-clean, and the Sublease Premises and the Personalty in at least
as good condition as at the date Subtenant took possession, ordinary wear and
tear and casualty loss excepted.

 

7.             Alterations.
Subtenant shall not make any Alterations (as defined in the Master Lease)
without first obtaining the written consent of Master Landlord and Sublandlord
in each instance (except to the extent that such Alteration is a Minor
Alteration for which consent is not required under the Master Lease), and
without first complying with Nevada Revised Statutes (“NRS”)
Chapter 108, including, without limitation, Sections 108.2403 and 108.2407 and
delivery to Sublandlord of evidence of such compliance. Sublandlord agrees that
it shall not withhold its consent to any Alteration which has been approved by
Master Landlord, unless the Alteration is one which must be removed pursuant to
the terms of the Master Lease upon surrender of the Master Premises, and the
costs of such removal would materially increase the removal costs for which
Sublandlord would be liable in the event of a default by Subtenant under this
Sublease. By its execution hereof, Sublandlord has approved the Alterations
described on Exhibit “D” attached hereto
and incorporated herein by this reference.

 

4

 

Subtenant acknowledges that
Subtenant is required to comply with the provisions of NRS Sections 108.2403
and 108.2407 prior to commencement of any work of improvement to be
constructed, altered or repaired on the Premises. Subtenant’s failure to comply
with NRS Sections 108.2403 and 108.2407 shall be an Event of Default under this
Sublease.

 

	
   

  	
  RK

  
	
   

  	
  Subtenant’s Initials

  

 

8.             Parking.
Subtenant shall take and pay for all of the unreserved parking spaces within
the Parking Structure that are provided by the Master Lease which are
attributable to Suite 400, consisting of forty-three (43) spaces
currently, which number will increase on certain anniversaries of the
Commencement Date of the Master Lease, as provided on Exhibit E to the
Master Lease, and Subtenant shall pay the Parking Fees with respect to each of
those spaces as set forth in such Exhibit E, with no additional charges
made by Sublandlord for use of such spaces other than the Parking Fees.

 

9.             Intentionally
Deleted.

 

10.           Assignment and
Subletting.  Subtenant shall not
assign this Sublease or further sublet all or any part of the Sublease Premises
without the prior written consent of Sublandlord, which consent may be withheld
in Sublandlord’s reasonable discretion. Notwithstanding the foregoing,
Subtenant may assign this Sublease or sublet the Sublease Premises, without
Sublandlord’s consent (but still subject to obtaining the consent of Master
Landlord to the extent required by the Master Lease), to any entity which
controls, is controlled by, or is under common control with Subtenant, or to
any entity which acquires substantially all the assets of Subtenant as a going
concern (collectively, an “Affiliate”),
provided that the Affiliate assumes in writing all of Subtenant’s obligations
under this Sublease, and provided further that such Affiliate has a net worth
(or, provided Subtenant survives as an entity and remains liable under this
Sublease, such Affiliate has a net worth, when combined with the net worth of
Subtenant) which represents no material adverse change from Subtenant’s net
worth at the time of such transfer, as certified in financial documentation presented
to Sublandlord prior to such assignment or subletting. In the event Sublandlord
consents to an assignment or sublease for which its consent is required
hereunder, Subtenant must, to the extent required under the terms of the Master
Lease, thereafter obtain the written consent of Master Landlord pursuant
to the terms and conditions set forth in Section 11 of the Master Lease.

 

11.           Remedies.  Sublandlord shall have the same rights and
remedies with respect to a breach of this Sublease by Subtenant as Master
Landlord has with respect to a breach of the Master Lease by Sublandlord
thereunder, and Subtenant shall have the same rights and remedies with respect
to a breach of this Sublease by Sublandlord as Sublandlord has with respect to
a breach of the Master Lease by Master Landlord thereunder. In addition, if
Sublandlord fails to pay any Rent due under the Master Lease to Master Landlord
at the times when such Rent is due, then after the passage of any applicable
periods for notice and cure, and provided that Subtenant is not in default
hereunder and gives prior written notice to Sublandlord of its intent to pay
the same, Subtenant shall have the right (but not the obligation) to pay such
Rent directly to Master

 

5

 

Landlord
on behalf of Sublandlord, and Sublandlord shall reimburse Subtenant for such
amounts within fifteen (15) days after demand therefor. If Sublandlord fails to
reimburse Subtenant for such amounts within said 15-day period, Subtenant may
deduct such amounts from its rent payments due hereunder. Any such amount not
paid by Sublandlord within fifteen (15) days shall bear interest at 12% per
annum from the due date until paid or deducted from Subtenant’s rent hereunder.

 

12.           Casualty or
Condemnation.

 

A.            Casualty. If
the Sublease Premises or the Building shall be partially or totally damaged by
fire or other casualty, the consequences thereof shall be determined pursuant to
the Master Lease; provided that Sublandlord shall not voluntarily terminate the
Master Lease pursuant to any right of termination provided to Sublandlord by
the Master Lease in the event of fire or other casualty, without the prior
written consent of Subtenant. No damage, compensation or claims shall be
payable by Sublandlord for inconvenience or loss of business arising from any such
damage by fire or other cause or by the repair or restoration of any portion of
the Sublease Premises or of the Building; provided, however, that if
Sublandlord is entitled to any such damages, compensation or claims from Master
Landlord pursuant to the Master Lease, any amounts which Sublandlord actually
receives from Master Landlord as a result of such damages, compensation or
claims shall be equitably allocated between Sublandlord and Subtenant.

 

B.            Condemnation.
In the event that the Sublease Premises or any part thereof or the Building
shall be acquired or condemned by eminent domain for any public or quasi-public
use or purpose, whether permanently or temporarily, the consequences thereof
and related award, if any, shall be determined pursuant to the Master Lease;
provided that Sublandlord shall not voluntarily terminate the Master Lease
pursuant to any right of termination provided to Sublandlord by the Master
Lease in the event of condemnation, without the prior written consent of Subtenant.

 

13.           Master Lease
Incorporation.

 

A.            This Sublease is
subject and subordinate to, and Subtenant accepts this Sublease subject to, all
of the terms, covenants and conditions of the Master Lease, together with any
future modifications, amendments or supplements thereto. Except as may be
expressly excluded below and except as may be inconsistent with the terms of
this Sublease, all of the terms, covenants and conditions of the Master Lease,
except for those provisions which by their nature do not relate to the Sublease
Premises or the Term, are hereby made part of this Sublease with the same force
and effect as if fully set forth at length herein. Except as otherwise
expressly set forth herein, the following terms shall have the stated meanings
herein: the term “Landlord” in the Master Lease shall mean Sublandlord herein;
the term “Tenant” in the Master Lease shall mean Subtenant herein; the term
“Premises” in the Master Lease shall mean Sublease Premises herein; the term
“Lease” in the Master Lease shall mean this Sublease herein; the term “Term” in
the Master Lease shall be replaced with the defined Term herein; the term
“Commencement Date” in the Master Lease shall be replaced with the defined
Commencement Date herein; the term “Base Year” in the Master Lease shall mean
2008 herein; the term “Base Rent” in the

 

6

 

Master Lease shall mean the defined Base Rent herein, and; the term
“Estimated Commencement Date” in the Master Lease shall not be applicable to
this Sublease.

 

B.            Except as otherwise
specifically provided herein, the time limits contained in the Master Lease for
the giving of notices, making payments or demands or performing of any act,
condition or covenant on Sublandlord’s part, as tenant thereunder, are amended
for the purposes of incorporation herein by reference by shortening the same in
each instance by five (5) days, so that notice may be given, demands made or
any act, condition or covenant performed or any right, remedy or option
hereunder exercised by Subtenant within the time limit relating thereto
contained in the Master Lease. Notwithstanding the foregoing, if the Master
Lease allows only ten (10) days or less for Sublandlord, as tenant
thereunder, to perform any act, to undertake to perform such act, or to correct
a failure relating to the Sublease Premises, then Subtenant shall perform or
undertake such act and/or correct such failure within the time provided
therefor in the Master Lease, less two (2) business days. If Sublandlord
or Subtenant receives any notice or demand from Master Landlord under the
Master Lease, said party shall promptly give a copy thereof to the other in the
manner provided for the giving of notices herein. Notwithstanding the
foregoing, any applicable notice or cure period for Subtenant will begin to run
on the date upon which Subtenant has received any applicable notices required
in connection therewith, regardless of when Sublandlord receives any such
notice from Master Landlord.

 

C.            Subtenant shall
comply with all of the terms, covenants and conditions of the Master Lease on
the part of the Tenant therein named arising after the Effective Date of this Sublease
as they affect the Sublease Premises (other than those not incorporated into
this Sublease).

 

D.            The following
provisions of the Master Lease, Riders and Exhibits attached thereto, and First
Amendment shall not be incorporated herein by reference because they are
either not applicable, are otherwise covered herein, or otherwise do not apply:
(i) Master Lease Sections 3(A), 3(B), 3(C), 3(D), 4(A), 9(C), 18(D), 31,
and 33(E); (ii) Master Lease Rider No. 1, Rider No. 2, Rider No. 3,
and any references within the Master Lease thereto; (iii) Master Lease Exhibit A-1,
Exhibit C, and Exhibit D, and any references within the Master Lease
thereto, and; (iv) First Amendment in its entirety.

 

E.             The term “Landlord”
where used in the following Sections of the Master Lease, as incorporated
herein by reference, shall refer to Master Landlord only and shall not refer to
Sublandlord: 4(B) (except in regard to payments, which are to be made to
Sublandlord), 4(C) (except in regard to payments, which are to be made to
Sublandlord), 4(D), 4(E), 4(F), 4(G),7, 8, 9(B), 14(B), 16(A), 20, 28, 30(D) and
32.

 

F.             The term “Landlord”
where used in the following Sections of the Master Lease, as incorporated
herein by reference, shall refer to both Master Landlord and Sublandlord: Sections
10, 13, 14(A), 15, 17 (provided that references to “Building” or “Property” in
such Section will, as to Sublandlord, be deemed instead to refer to the
Sublease Premises) and 25.

 

7

 

G.                                     Any provision
of the Master Lease that requires “Landlord” or any other party to be a “named
insured”, “loss payee”, or “additional insured”, shall include Master Landlord,
Sublandlord and any other parties required by the Master Lease.

 

H.                                    Any provisions
of the Master Lease that provides for “Tenant” to indemnify “Landlord” shall be
deemed to include Master Landlord and Sublandlord.

 

I.                                         Subject to Section 16.B
below, performance by Master Landlord as the “Landlord” under the Master Lease
shall be deemed and accepted by Subtenant as performance by Sublandlord herein
and Sublandlord shall not be responsible for any breach of the Master Lease by
Master Landlord or any nonperformance or noncompliance with any provision
thereof by Master Landlord, including the failure of Master Landlord to provide
any services, utilities, and/or repairs. Subject to Section 16.B below,
Sublandlord makes no representation that Master Landlord will provide any or
all of the services, utilities and/or repairs referred to in the Master Lease,
whether incorporated herein or not.

 

J.                                        Neither
Sublandlord nor Subtenant shall do or permit anything to be done that would
violate or breach the terms and provisions of the Master Lease or cause the
Master Lease to be terminated or forfeited by reason of any right of
termination or forfeiture reserved or vested in Master Landlord or Sublandlord
under the Master Lease or by reason of any agreement between Master Landlord
and Sublandlord, without the consent of the other party hereto.

 

14.                                 Subtenant’s
Covenants and Representations.

 

A.                                   Except as
otherwise provided herein, Subtenant covenants and agrees to perform and to
observe all of the covenants, agreements, terms, provisions and conditions of
the Master Lease on the part of the “Tenant” thereunder to be performed and
observed during the Term, to the extent that they apply to the Sublease
Premises or the use and occupancy by Subtenant of the Sublease Premises and the
services and facilities of the Building. Subtenant also covenants and agrees not
to do or cause to be done or suffer or permit any act or thing to be done or
suffered which would or might (i) constitute or cause a default under the
Master Lease, (ii) cause the Master Lease or the rights of Sublandlord
thereunder to be canceled, terminated or forfeited, (iii) cause
Sublandlord to become liable for any damages, costs, claims or penalties, or (iv) adversely
affect or reduce any of Sublandlord’s rights or benefits under the Master
Lease.

 

B.                                     Promptly after
receipt by Subtenant, Subtenant shall deliver to Sublandlord a copy of any
notice of default or any other notice, statement, demand and other communication
given or sent by or on behalf of Master Landlord which relates or is applicable
to (i) the Sublease Premises; (ii) the Master Lease; (iii) Subtenant’s
use and occupancy of the Sublease Premises; and (iv) the services and
facilities of the Building being furnished to the Sublease Premises or
Subtenant.

 

C.                                     Except to the
extent arising from the negligence, intentional misconduct or breach of this
Sublease of or by Sublandlord, its directors, officers, partners, employees, shareholders
and agents, Subtenant shall defend, indemnify and hold harmless Sublandlord,
its directors, officers, partners, employees, shareholders and agents and any
predecessors in interest

 

8

 

and
successors and assigns against and from (i) any and all claims (1) arising
from the conduct of Subtenant or any sublessee of Subtenant, or the employees
or visitors of either, or of any business or any work or thing whatsoever done
to the Sublease Premises, or any condition created in or about the Sublease
Premises during the Term of this Sublease, or (2) arising from any
negligent or otherwise wrongful act or omission of Subtenant or any sublessee
of Subtenant, or the employees or visitors of either; (ii) any failure by
Subtenant or any sublessee of Subtenant to comply with the provisions of this
Sublease; (iii) arising from the conduct, act or omission of Subtenant,
its sublessees, or the employees or visitors of each in the Building and in the
use of any Common Areas therein; and (iv) all costs, expenses and
liabilities incurred by Sublandlord in connection with each such claim or
action or proceeding brought thereon, including, without limitation, all
reasonable legal fees and expenses. In the event any action or proceeding shall
be brought against Sublandlord or any of the foregoing indemnitees by reason of
any such claim, Subtenant, upon notice from Sublandlord, shall resist and
defend such action or proceeding with counsel previously and reasonably
approved by Sublandlord.

 

D.                                    The foregoing
provisions are not intended to limit or affect the provisions of the Master
Lease as incorporated herein. The indemnifications and obligations of this Section shall
survive the expiration or earlier termination of this Sublease.

 

15.                                 Sublandlord’s Covenants and
Representations.

 

A.                                   Except as
otherwise provided herein, Sublandlord covenants and agrees to perform and
observe all of the terms, covenants, provisions, conditions and agreements of
the Master Lease including, without limitation, any and all rules and
regulations which shall be in effect from time to time during the Sublease
Term, in such a manner so as to prevent the Master Lease from being terminated,
unless in connection with any such termination, Master Landlord accepts this
Sublease as a direct lease between Master Landlord and Subtenant. Sublandlord
represents and warrants to Subtenant that (i) Exhibit B is a true and
correct copy of the Master Lease, including any amendments and modifications
thereto, (ii) the Master Lease is in full force and effect, (iii) there
are no other promises, agreements, understandings or commitments between Master
Landlord and Sublandlord relating to the Sublease Premises, and no agreements
between Sublandlord and any lender of Master Landlord are currently in effect, (iv) Sublandlord
has not given any currently effective notice of default or termination under
the Master Lease to Master Landlord, nor has Sublandlord received any currently
effective notice of default or termination under the Master Lease from Master
Landlord, (v) to Sublandlord’s current actual knowledge, neither Master
Landlord nor Sublandlord is in default under the Master Lease (and no
circumstances exist that, with the giving of notice or passing of time, may
become a default under the Master Lease), and (vi) Sublandlord has not
previously assigned the Master Lease or sublet the Sublease Premises. The
phrase “Sublandlord’s current actual knowledge” shall be deemed to mean the
current actual knowledge of J. Andrew Keller, Sublandlord’s Director of
Administration, and Greg S. Gilbert, the Administrative Partner of Sublandlord’s
Las Vegas, Nevada office. If Sublandlord terminates the Master Lease a
permitted under the terms of this Sublease, Subtenant agrees, upon Master
Landlord’s agreement to recognize Subtenant as its direct tenant under the
terms of this Sublease, to attorn to Master Landlord under the terms hereof in
connection with any such termination and to execute an attornment agreement in
such form as may reasonably be requested by Sublandlord or Master Landlord and
be acceptable to

 

9

 

Subtenant
in its reasonable judgment. Sublandlord shall not agree to any amendment to the
Master Lease without Subtenant’s consent that would adversely affect Subtenant’s
use or occupancy of the Sublease Premises or Common Areas.

 

B.                                     Promptly after
receipt by Sublandlord, Sublandlord shall deliver to Subtenant a copy of any
notice of default or any other notice, statement, demand and other communication
given or sent by or on behalf of Master Landlord which relates or is applicable
to (i) the Sublease Premises; (ii) the Master Lease; (iii) Subtenant’s
use and occupancy of the Sublease Premises; and (iv) the services and
facilities of the Building being furnished to the Sublease Premises or
Subtenant.

 

C.                                     Except to the
extent arising from the negligence, intentional misconduct or breach of this
Sublease of or by Subtenant, its directors, officers, partners, employees, shareholders
and agents, Sublandlord shall defend, indemnify and hold harmless Subtenant,
its directors, officers, partners, employees, shareholders and agents and any
predecessors in interest and successors and assigns against and from (i) any
and all claims arising from any negligent or otherwise wrongful act or omission
of Sublandlord or the employees or agents of Sublandlord; (ii) any failure
by Sublandlord or any sublessee of Sublandlord (other than Sublessee) to comply
with the provisions of this Sublease; (iii) all costs, expenses and
liabilities incurred by Subtenant in connection with each such claim or action
or proceeding brought thereon, including, without limitation, all reasonable
legal fees and expenses; or (iv) any breach, default or source of
liability that arose or accrued with respect to the Master Lease or the Master
Premises as a result of any act or omission of Sublandlord prior to the date of
Subtenant’s occupancy of the Sublease Premises. In the event any action or
proceeding shall be brought against Subtenant or any of the foregoing
indemnitees by reason of any such claim, Sublandlord, upon notice from
Subtenant, shall resist and defend such action or proceeding with counsel
previously and reasonably approved by Subtenant.

 

D.                                    This Section 15
shall survive the expiration or earlier termination of this Sublease.

 

16.                                 Master Landlord’s
Services; Disputes with Master Landlord.

 

A.                                   Notwithstanding
anything contained in this Sublease to the contrary, Subtenant agrees and
understands that Sublandlord does not make or adopt any representation or
warranty of Master Landlord that has been incorporated herein from the Master
Lease. Subtenant acknowledges and agrees that, except as may be expressly set
forth herein, all services, repairs, restorations and access to and for the
Sublease Premises provided for under the Master Lease will, in fact, be
provided by Master Landlord, and Sublandlord shall have no obligations during
the Sublease Term to provide any such services, repairs, restorations and
access.. Subtenant agrees to look solely to Master Landlord for the furnishing
of such services, repairs, restorations and access. Sublandlord makes no
representation that Master Landlord will provide or perform any of the
services, repairs, restorations or access referred to and incorporated herein
from the Master Lease. Sublandlord shall in no event be liable to Subtenant nor
shall the obligations of Subtenant hereunder be impaired or the performance
thereof be excused because of any failure or delay on Master Landlord’s part in
furnishing such services, repairs, restorations and access; provided, however,
that if Sublandlord’s Base Rent payable

 

10

 

under
the Master Lease is actually abated pursuant to the Master Lease in respect to
the Sublease Premises or any portion thereof, or in respect to any services
allocated to the Sublease Premises pursuant to this Sublease, then Base Rent
payable hereunder by Subtenant shall also be abated during the same period and
to the corresponding extent that Sublandlord’s Base Rent is so abated. Except
as otherwise specifically provided in this Sublease, Subtenant further
acknowledges and agrees that Sublandlord shall have no obligations to (i) provide
any insurance with respect to the Building, the Sublease Premises or the
improvements therein (except as may be required of “Tenant” under the Master
Lease), or (ii) take any other action that Master Landlord is obligated to
provide, make, comply with, take or cause to be done, under the Master Lease
(collectively, “Services”), and the only Services
or rights to which Subtenant is entitled hereunder are those to which
Sublandlord is entitled as the “Tenant” under the Master Lease, and for all
such Services and rights, Subtenant will look solely to the Master Landlord.
Nothing contained in this Section 16.A shall negate the provisions of Section 16.B
below concerning the obligations of Sublandlord and Subtenant with respect to
the enforcement of rights against Master Landlord under the Master Lease.

 

B.                                     Sublandlord
hereunder assumes no liability for any covenants, indemnities, representations
or warranties made by Master Landlord under the Master Lease, other than those
that have been incorporated into this Sublease for performance by Sublandlord.
If Master Landlord shall default in any of its obligations to Sublandlord with
respect to the Sublease Premises, Subtenant shall be entitled to participate
with Sublandlord in the enforcement of Sublandlord’s rights against Master
Landlord, which participation by Subtenant shall be at Subtenant’s sole cost
and expense. Sublandlord shall reasonably cooperate with Subtenant in demanding
performance from Master Landlord, at no cost or expense to Sublandlord, but
Sublandlord shall have no obligation to bring any action or proceeding or to
take any additional steps beyond the initial demand to enforce Sublandlord’s
rights against Master Landlord. If, after written request from Subtenant,
Sublandlord refuses, in its sole discretion, to file any action or proceeding
or take additional action for the enforcement of Sublandlord’s rights against
Master Landlord with respect to the Sublease Premises within a reasonable
period of time, considering the nature of Master Landlord’s default and any
applicable notice and cure periods, Subtenant shall have the right upon written
notice to Sublandlord to take such action in its own name, at its sole cost and
expense; provided, however, such right shall only be for that particular
purpose and only to such extent necessary. In such event, the rights of
Sublandlord under the Master Lease are hereby conferred upon and assigned to
Subtenant, and Subtenant is hereby subrogated to such rights to the extent that
the same shall apply to the Sublease Premises. If any such action against
Master Landlord in Subtenant’s name shall be barred by reason of lack of
privity, non-assignability or otherwise, Subtenant may take such action in
Sublandlord’s name, provided that (i) legal counsel representing Subtenant
in such action shall be reasonably acceptable to Sublandlord, and (ii) Subtenant
has obtained the prior written consent of Sublandlord, which consent shall not
be unreasonably withheld so long as Subtenant agrees, in writing, that
Subtenant shall indemnify and hold Sublandlord harmless from and against all
liability, loss, damage, or expense, which Sublandlord shall suffer or incur by
reason of such action. Sublandlord shall have the right to condition such
consent upon Subtenant’s delivery of a bond issued by a surety company of
recognized responsibility, or other security satisfactory to Sublandlord as
sufficient to indemnify and protect Sublandlord against any loss, cost, liability,
damage or expenses, including, without limitation, interest and penalties and
reasonable

 

11

 

attorneys’
fees and disbursements, which could arise by reason of such action. Sublandlord
agrees to cooperate with Subtenant as is reasonably required in connection with
an action or proceeding by Subtenant against Master Landlord to enforce
Sublandlord’s rights under the Master Lease in respect of the Sublease
Premises; provided that Subtenant shall have agreed in writing to reimburse Sublandlord
for any out-of-pocket expenses incurred by Sublandlord in connection with such
cooperation.

 

C.                                     Subtenant
agrees that, except as otherwise expressly provided herein, Sublandlord shall
not be required to dispute any determinations or other assertions or claims of Master
Landlord regarding the rights or obligations of Sublandlord, as “Tenant” under
the Master Lease for which Subtenant is or may be responsible under this
Sublease or by which Subtenant may be bound; provided, however, that this
provision shall not limit or affect Subtenant’s rights or Sublandlord’s
obligations under 16(A) and 16(B) hereof.

 

D.                                    The provisions
of this Section 16 shall survive the expiration or earlier termination of
this Sublease.

 

17.                                 Cooperation. Subtenant
agrees and acknowledges that various rights, benefits, obligations and
liabilities under the Master Lease inure to the benefit of and are binding upon
Sublandlord, and pertain to the Building as a whole. To the extent that any
right, benefit, obligation or liability contained in the Master Lease is not
specifically addressed in this Sublease and such right, benefit, obligation or
liability pertains to the Building as a whole, then Subtenant’s rights,
benefits, obligations or liabilities with respect to such provision, as
incorporated herein by reference, shall be deemed to be subject to the
concurrent rights, benefits, obligations and liabilities of Sublandlord with
respect thereto. In addition, to the extent of any conflict or inconsistency
between the rights granted to Subtenant hereunder and the rights of Sublandlord
with respect to the Building and the Master Lease, Subtenant shall cooperate in
good faith with Sublandlord to resolve any such conflict or inconsistency. In
addition, Sublandlord will reasonably cooperate with Subtenant to cause Master
Landlord to provide services required by Subtenant in addition to those
otherwise required to be provided by Master Landlord under the Master Lease
(such as after-hours air conditioning or heat). Subtenant shall pay Master Landlord’s
charge for those additional services promptly after receipt of an invoice
therefor from Landlord or Sublandlord. If at any time a charge for any services
is attributable to the use of the services both by Sublandlord and Subtenant,
the cost shall be equitably divided between them.

 

18.                                 Insurance. Subtenant
shall maintain all insurance required by the Master Lease with respect to the
Sublease Premises and shall deliver to Sublandlord policies of insurance and
certificates or such other evidence of such insurance not later than three (3) business
days prior to the Commencement Date.

 

19.                                 Brokers. Sublandlord
represents that it has dealt directly with and only with Colliers Nevada LLC,
d/b/a Colliers International (“Sublandlord’s Broker”),
as its real estate representative in connection with this Sublease. Subtenant
represents that it has dealt directly with and only with CBRichard Ellis as its
real estate representative in connection with this Sublease (“Subtenant’s Broker”). Sublandlord shall pay (or cause to be
paid) commissions to

 

12

 

Sublandlord’s Broker, who shall pay a portion of the commission to and
Subtenant’s Broker, as set forth in Section 16. of that certain letter
dated October 20, 2008, from Sublandlord’s Broker to Subtenant’s Broker.  SUBTENANT AND SUBLANDLORD SHALL EACH
INDEMNIFY THE OTHER AGAINST ALL COSTS, EXPENSES, ATTORNEYS’ FEES, LIENS
AND OTHER LIABILITY FOR COMMISSIONS OR OTHER COMPENSATION CLAIMED BY ANY BROKER
OR AGENT CLAIMING THE SAME BY, THROUGH OR UNDER THE INDEMNIFYING PARTY, EXCEPT
THAT NO INDEMNITY IS GIVEN BY SUBTENANT WITH RESPECT TO THE BROKER(S) SPECIFICALLY
IDENTIFIED ABOVE.

 

20.                                 Signage.  Subject to the consent of Master Landlord,
Subtenant shall be entitled to a single line on the lobby directory listing, at
no charge to Subtenant. In addition, so long as the Master Landlord agrees to
allow Subtenant to maintain the same, Subtenant shall be provided with one (1) strip
for Subtenant’s name on the Building’s monument sign. The costs of fabricating
and installing the monument sign listing shall be paid by Sublandlord.
Subtenant shall be responsible for obtaining Master Landlord’s approval of any
other signage desired by Subtenant in the Sublease Premises or the Building, at
Subtenant’s sole cost and expense.

 

21.                                 Merger.  All prior understandings and agreements
between the parties are merged within this Sublease, which, along with the
incorporated provisions of the Master Lease, fully and completely sets forth
the understanding of the parties. This Sublease may not be changed or
terminated orally or in any manner other than by written agreement signed by
the party or parties against whom enforcement of the change or termination is
sought.

 

22.                                 Exculpation of
Parties.  Notwithstanding anything
contained herein to the contrary, Subtenant shall look solely to Sublandlord
(and Sublandlord’s interest in the Sublease and Master Premises) to enforce
Sublandlord’s obligations hereunder and no partner, shareholder, director,
officer, principal, employee or agent, directly and indirectly, of Sublandlord
(collectively, the “Sublandlord Exculpated
Parties”) shall be personally liable for the performance of
Sublandlord’s obligations under this Sublease. Subtenant shall not seek any
damages against any of the Sublandlord Exculpated Parties. The limitation on
the personal liability of the Sublandlord Exculpated Parties shall not in any
manner constitute a waiver of or affect any of the obligations of Sublandlord
under this Sublease, nor limit Subtenant’s rights to name any of the
Sublandlord Exculpated Parties in any action or proceeding relating to this
Sublease to the extent necessary to recover any judgment from Sublandlord or
the Sublandlord Exculpated Parties, provided that no such judgment shall be
personally enforced against any of the Sublandlord Exculpated Parties.

 

23.                                 Notices.  All notices, consents and demands hereunder
shall be in writing and shall be personally delivered or sent via overnight
delivery by a nationally recognized carrier, addressed to the other party at
its address set forth in the Basic Lease Information of this Sublease, and
shall be deemed received upon (i) delivery, if personally delivered, or on
the date of attempted deliver, if delivery is refused, or (ii) one (1) business
day after mailing, if sent via overnight delivery. Either party may, by notice
in writing, direct that future notices or demands be sent to a  different
address.

 

24.                                 Successors and
Assigns.  This Sublease shall be binding
upon, and shall inure to the benefit of, the parties hereto and their
respective successors and assigns.

 

13

 

25.                                 No Waiver.  The failure of Sublandlord to insist in any
one or more cases upon the strict performance or observance of any obligation
of Subtenant hereunder or to exercise any right or option contained herein
shall not be construed as a waiver or relinquishment for the future of any such
obligation of Subtenant or any right or option of Sublandlord. Sublandlord’s
receipt and acceptance of payment of Base Rent or Sublandlord’s acceptance of
performance of any other obligation by Subtenant, with knowledge of Subtenant’s
breach of any provision of this Sublease shall not be deemed a waiver of such
breach. No waiver by Sublandlord of any term, covenant or condition of this
Sublease shall be deemed to have been made unless expressed in writing and
signed by Sublandlord.

 

26.                                 Counterparts.  This Sublease may be executed in any number of
counterparts with the same effect as if both parties had signed the same
document. All counterparts shall be construed together and shall constitute one
Sublease.

 

27.                                 Governing Law.  This Sublease shall be governed by and
construed pursuant to the law of the State of Nevada.

 

28.                                 Signs.  Subtenant shall not place any sign upon the
Sublease Premises or any other part of the Building without Sublandlord’s prior
written consent.

 

29.                                 Time is of the
Essence.  Time is of the essence of each
term and provision of this Sublease.

 

Signatures
on next page.

 

14

 

Sublandlord and Subtenant
have executed this Sublease as of the Effective Date specified above.

 

 

	
   

  	
  SUBLANDLORD:

  
	
   

  	
   

  
	
   

  	
  Holland & Hart LLP,

  
	
   

  	
  a Colorado limited liability partnership

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Lawrence J. Wolfe

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Lawrence J. Wolfe

  
	
   

  	
   

  	
   

  
	
   

  	
  Its:

  	
  Managing Partner

  
	
   

  	
   

  	
   

  
	
   

  	
  Date:

  	
  11/24, 2008

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  SUBTENANT:

  
	
   

  	
   

  
	
   

  	
  Tropicana Entertainment LLC,

  
	
   

  	
  a Delaware limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert Kocienski

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Robert Kocienski

  
	
   

  	
   

  	
   

  
	
   

  	
  Its:

  	
  CFO

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Date:

  	
  11-19, 2008

  

 

15

 

MASTER LANDLORD’S CONSENT

 

The undersigned, 3930 HHP LLC, a Delaware limited liability company, as
Landlord under the Master Lease, hereby (i) agrees and consents to the
Sublease to which this Master Landlord’s Consent is attached, subject to the
terms and conditions set forth in the Sublease; (ii) waives any rights
under the Master Lease to adjust rents, recapture all or any portion of the
Master Premises or impose any additional rent as a result of such Sublease; (iii) acknowledges
that this consent and the Sublease to which it is attached satisfies all
documentation requirements for a sublease as are set forth in the Master Lease;
(iv) agrees that Section 18.D of the Master Lease will not apply to
Subtenant; (v) approves the list of Alterations described on Exhibit “D” to the Sublease; and (vi) represents
that: (A) Exhibit B to the Sublease is a true and correct copy of the
Master Lease, including any amendments and modifications thereto, (B) the
Master Lease is in full force and effect, (C) there are no other promises,
agreements, understandings or commitments between Master Landlord and
Sublandlord relating to the Sublease Premises, except as set forth in the Master
Lease, (D) Master Landlord has not given any currently effective notice of
default or termination under the Master Lease to Sublandlord, nor has Master
Landlord received any currently effective notice of default or termination
under the Master Lease from Sublandlord, (E) to Master Landlord’s current
actual knowledge, neither Master Landlord nor Sublandlord is in default under
the Master Lease (and no circumstances exist that, with the giving of notice or
passing of time, may become a default under the Master Lease), and (F) no
consent by any lender of Master Landlord to this Sublease is required. Except
for the terms of this Master Landlord’s Consent, nothing contained in this
consent shall increase Master Landlord’s obligations under the Master Lease or be
constructed as amending or modifying Subtenant’s obligations to Master Landlord
under the Master Lease. Notwithstanding any contrary provision of the Master
Lease, Master Landlord agrees to provide to Subtenant copies of all notices
required or permitted under the Master Lease to be given by Master Landlord to
Sublandlord concurrently with the delivery thereof to Sublandlord. Master
Landlord further agrees that, notwithstanding any contrary provision of the
Master Lease or applicable law, if the Master Lease is terminated prior to the
expiration of the Sublease Term, then Master Landlord will nonetheless
recognize Subtenant as its direct tenant on all of the terms and conditions of
the Sublease and not disturb Subtenant’s possession of the Sublease Premises.

 

	
   

  	
  MASTER
  LANDLORD:

  
	
   

  	
   

  
	
   

  	
  3930
  HHP LLC,

  
	
   

  	
  a
  Delaware limited liability company

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Its:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Date:

  	
          ,
  2008

  

 

1

 

EXHIBIT “A”

TO SUBLEASE AGREEMENT

 

Floor Plan of Sublease Premises

 

[See attached.]

 

A-1

 

FLOOR PLAN

OF LEASED PREMISES

 

 

 

EXHIBIT “B”

TO SUBLEASE AGREEMENT

 

Master Lease

 

[See attached.]

 

B-1

 

MASTER LEASE

 

 

OFFICE LEASE

 

BETWEEN

 

3930 HHP LLC

 

(“LANDLORD”)

 

AND

 

HALE LANE PEEK DENNISON AND HOWARD PROFESSIONAL CORPORATION

 

(“TENANT”)

 

 

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
   

  	
   

  	
  PAGE

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
   

  	
  Basic Lease Information

  	
   

  	
  1

  
	
  2.

  	
   

  	
  Lease Grant

  	
   

  	
  3

  
	
  3.

  	
   

  	
  Term: Adjustment of
  Commencement Date: Early Access

  	
   

  	
  3

  
	
  4.

  	
   

  	
  Rent

  	
   

  	
  4

  
	
  5.

  	
   

  	
  Tenant’s Use of Premises

  	
   

  	
  8

  
	
  6.

  	
   

  	
  Intentionally Omitted

  	
   

  	
  9

  
	
  7.

  	
   

  	
  Services Furnished by
  Landlord

  	
   

  	
  9

  
	
  8.

  	
   

  	
  Use of Electrical Services
  by Tenant

  	
   

  	
  10

  
	
  9.

  	
   

  	
  Repairs and Alterations

  	
   

  	
  11

  
	
  10.

  	
   

  	
  Entry by Landlord

  	
   

  	
  12

  
	
  11.

  	
   

  	
  Assignment and Subletting

  	
   

  	
  13

  
	
  12.

  	
   

  	
  Liens

  	
   

  	
  14

  
	
  13.

  	
   

  	
  Indemnity

  	
   

  	
  14

  
	
  14.

  	
   

  	
  Insurance

  	
   

  	
  15

  
	
  15.

  	
   

  	
  Mutual Waiver of
  Subrogation

  	
   

  	
  15

  
	
  16.

  	
   

  	
  Casualty Damage

  	
   

  	
  16

  
	
  17.

  	
   

  	
  Condemnation

  	
   

  	
  16

  
	
  18.

  	
   

  	
  Events of Default

  	
   

  	
  17

  
	
  19.

  	
   

  	
  Remedies

  	
   

  	
  17

  
	
  20.

  	
   

  	
  Limitation of Liability

  	
   

  	
  19

  
	
  21.

  	
   

  	
  No Waiver

  	
   

  	
  19

  
	
  22.

  	
   

  	
  Tenant’s Right to
  Possession

  	
   

  	
  19

  
	
  23.

  	
   

  	
  Intentionally Omitted

  	
   

  	
  19

  
	
  24.

  	
   

  	
  Holding Over

  	
   

  	
  19

  
	
  25.

  	
   

  	
  Subordination to Mortgages:
  Estoppel Certificate

  	
   

  	
  20

  
	
  26.

  	
   

  	
  Attorneys’ Fees

  	
   

  	
  20

  
	
  27.

  	
   

  	
  Notice

  	
   

  	
  20

  
	
  28.

  	
   

  	
  Reserved Rights

  	
   

  	
  20

  
	
  29.

  	
   

  	
  Surrender of Premises

  	
   

  	
  21

  
	
  30.

  	
   

  	
  Hazardous Materials

  	
   

  	
  21

  
	
  31.

  	
   

  	
  Signage

  	
   

  	
  22

  
	
  32.

  	
   

  	
  Rooftop Communications
  Equipment

  	
   

  	
  22

  
	
  33.

  	
   

  	
  Miscellaneous

  	
   

  	
  22

  

 

EXHIBITS AND RIDERS:

 

	
  EXHIBIT A-l

  	
   

  	
  OUTLINE AND LOCATION OF
  PREMISES

  
	
  EXHIBIT A-2

  	
   

  	
  LEGAL DESCRIPTION OF
  PROPERTY

  
	
  EXHIBIT B

  	
   

  	
  RULES AND REGULATIONS

  
	
  EXHIBIT C

  	
   

  	
  COMMENCEMENT LETTER

  
	
  EXHIBIT D

  	
   

  	
  WORK LETTER

  
	
  EXHIBIT E

  	
   

  	
  PARKING AGREEMENT

  
	
   

  	
   

  	
   

  
	
  RIDER NO. 1

  	
   

  	
  OPTION TO EXTEND

  
	
  RIDER NO. 2

  	
   

  	
  OPTION TO EXPAND

  
	
  RIDER NO. 3

  	
   

  	
  PREFERENTIAL RIGHT TO LEASE

  

 

i

 

OFFICE LEASE

 

This Office Lease (this “Lease”) is entered into by and
between 3930 HHP LLC, a Delaware limited liability company (“Landlord”), and HALE LANE PEEK
DENNISON AND HOWARD PROFESSIONAL CORPORATION, a Nevada professional corporation
(“Tenant”), and shall be effective as
of the date set forth below Landlord’s signature (the “Effective
Date”)

 

1.                                      Basic
Lease Information. The key business terms used
in this Lease are defined as follows:

 

A.                                   “Building”:  The building commonly known as
“3930 Howard Hughes Parkway” and located in Las Vegas, Nevada 89109.

 

B.                                     “Rentable Square Footage of the Building” is agreed and stipulated to be 85,923 square feet.

 

C.                                     “Premises”:  The area shown on Exhibit A-l  to this Lease. The
Premises arc located on the fourth floor of the Building and known as suite
number 400. The “Rentable
Square Footage of the Premises” is deemed to be 18,035
square feet. The “Usable
Square Footage of the Premises” is deemed to be 17,314
square feet. If the Premises include, now or hereafter, one or more floors in
their entirety, all corridors and restroom facilities located on such full floor(s)
shall be considered part of the Premises. Landlord and Tenant stipulate and
agree that the Rentable Square Footage of the Building, the Rentable Square
Footage of the Premises, and the Usable Square Footage of the Premises are
correct and shall not be remeasured.

 

D.                                    “Base Rent”:

 

	
  Period

  	
   

  	
  Monthly Rate

  Per Rentable Square Foot

  	
   

  	
  Monthly

  Base Rent

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  RCD

  	
   

  	
  to

  	
   

  	
  12

  	
   

  	
   

  	
  $

  	
  2.45

  	
   

  	
  $

  	
  44,185.75

  
	
   

  	
  13

  	
   

  	
  to

  	
   

  	
  24

  	
   

  	
   

  	
  $

  	
  2.52

  	
   

  	
  $

  	
  45,511.32

  
	
   

  	
  25

  	
   

  	
  to

  	
   

  	
  36

  	
   

  	
   

  	
  $

  	
  2.60

  	
   

  	
  $

  	
  46,876.66

  
	
   

  	
  37

  	
   

  	
  to

  	
   

  	
  48

  	
   

  	
   

  	
  $

  	
  2.68

  	
   

  	
  $

  	
  48,282.96

  
	
   

  	
  49

  	
   

  	
  to

  	
   

  	
  60

  	
   

  	
   

  	
  $

  	
  2.76

  	
   

  	
  $

  	
  49,731.45

  
	
   

  	
  61

  	
   

  	
  to

  	
   

  	
  72

  	
   

  	
   

  	
  $

  	
  2.84

  	
   

  	
  $

  	
  51,223.39

  
	
   

  	
  73

  	
   

  	
  to

  	
   

  	
  84

  	
   

  	
   

  	
  $

  	
  2.93

  	
   

  	
  $

  	
  52,760.10

  
	
   

  	
  85

  	
   

  	
  to

  	
   

  	
  96

  	
   

  	
   

  	
  $

  	
  3.01

  	
   

  	
  $

  	
  54,342.90

  
	
   

  	
  97

  	
   

  	
  to

  	
   

  	
  108

  	
   

  	
   

  	
  $

  	
  3.10

  	
   

  	
  $

  	
  55,973.19

  
	
   

  	
  109

  	
   

  	
  to

  	
   

  	
  120

  	
   

  	
   

  	
  $

  	
  3.20

  	
   

  	
  $

  	
  57,652.38

  

 

	
   

  	
   

  	
   

  	
  RCD = Rent Commencement
  Date

  	
  ED = Expiration Date

  

 

E.                                      “Tenant’s Pro Rata Share”: The percentage equal to the
Rentable Square Footage of the Premises divided by the Rentable Square Footage
of the Building.

 

F.                                      “Base Year” for Operating Expenses: 2006.

 

G.                                     “Term”: The period beginning on the
Commencement Date and ending approximately 120 months after the Rent
Commencement Date, subject to the provisions of Article 3.

 

H.                                    “Estimated Commencement Date”: February 1,
2006, subject to adjustment, if any, as provided in Section 3.A and the
Work Letter.

 

I.                                         Intentionally Omitted.

 

J.                                        “Guarantor(s)”: None required.

 

K.
                                 “Business Day(s)”: Monday through Friday of each
week, exclusive of New Year’s Day, Memorial Day, Independence Day, Labor Day,
Thanksgiving Day, the day after Thanksgiving and Christmas Day (“Holidays”).  Landlord may designate
additional Holidays, provided that the additional Holidays are federal or
Nevada state holidays and commonly recognized by other office buildings in the
area where the Building is located.

 

1

 

L.                                      “Law(s)”: All applicable statutes,
codes, ordinances, orders, rules and regulations of any municipal or
governmental entity, now or hereafter adopted, including the Americans with
Disabilities Act and any other law pertaining to disabilities and architectural
barriers (collectively, “ADA”), and all laws pertaining to the environment,
including the Comprehensive Environmental Response, Compensation and Liability
Act, as amended, 42 U.S.C. §9601 et seq. (“CERCLA”), and
all restrictive covenants is existing of record and all rules and
requirements of any existing association or improvement district affecting the
Property.

 

M.                                 “Normal Business Hours”: 8:00 A.M. to 6:00 P.M.
on Business Days and 8:00 A.M. to 1:00 P.M. on Saturdays, exclusive
of Holidays.

 

N.                                    “Notice Addresses”:

 

Tenant: On or after the Commencement
Date, notices shall be sent to Tenant at the Premises. Prior to the
Commencement Date, notices shall be sent to Tenant at the following address:

 

2300 West Sahara,

Suite 800

Las Vegas, Nevada 89102

 

Attn: Managing Shareholder

Phone #: (702) 222-2500

Fax #: (702) 365-6940

 

	
  Landlord:

  	
  With a
  copy to:

  	
  And to:

  
	
   

  	
   

  	
   

  
	
  3800
  Howard Hughes

  	
  2000
  Post Oak Blvd.

  	
  777
  Main Street, Suite 2100

  
	
  Parkway,
  Suite 150

  	
  Suite
  1950

  	
  Fort
  Worth, Texas 76102

  
	
  Las
  Vegas, Nevada 89109

  	
  Houston,
  Texas 77056

  	
  Attn:
  Legal Dept.

  
	
  Attn:
  Property Manager

  	
  Attn:
  Jane B. Page

  	
  Phone
  #: (817) 321-2100

  
	
  Phone
  #: (702) 791-4334

  	
  Phone
  #: (713) 840-1170

  	
  Fax
  #: (817) 321-2000

  
	
  Fax
  #: (702) 791-4354

  	
  Fax
  #: (713) 840-1180

  	
   

  

 

Rent
(defined In Section 4.A) is payable to the order of 3930 HHP LLC, at the
following address: File No. 57504, Los Angeles, California 90074-7504; or
by wire transfer to Bank of America, Dallas, Texas, ABA #111-0000-25, for
further credit to 3930 HHP LLC, Account #004781670373, Hale Lane Peek Dennison
and Howard Professional Corporation, 3930 Howard Hughes Parkway.

 

O.                                    “Other Defined Terms”: In addition to the terms
defined above, an index of the other defined terms used in the text of this
Lease is set forth below, with a cross-reference to the paragraph in this Lease
in which the definition of such term can be found:

 

	
  Affiliate

  	
   

  	
  11.E

  
	
  Alterations

  	
   

  	
  9.C(1)

  
	
  Approved Architectural Documents

  	
   

  	
  Work Letter

  
	
  Approved Construction Documents

  	
   

  	
  Work Letter

  
	
  Architectural Documents

  	
   

  	
  Work Letter

  
	
  Audit Election Period

  	
   

  	
  4.G

  
	
  Cable

  	
   

  	
  9.A

  
	
  Claims

  	
   

  	
  13

  
	
  Commencement Date

  	
   

  	
  3.A

  
	
  Common Areas

  	
   

  	
  2

  
	
  Completion Estimate

  	
   

  	
  16.B

  
	
  Contamination

  	
   

  	
  30.C

  
	
  Costs of Reletting

  	
   

  	
  19.B

  
	
  Excess Operating Expences

  	
   

  	
  4.B

  
	
  Expiration Date

  	
   

  	
  3.A

  
	
  Force Majeure

  	
   

  	
  31.C

  
	
  Hazardous Materials

  	
   

  	
  30.C

  
	
  Landlord Parties

  	
   

  	
  13

  
	
  Landlord Work

  	
   

  	
  3.A

  
	
  Landlord’s Rental Damages

  	
   

  	
  19.B

  
	
  Leasehold Improvements

  	
   

  	
  29

  
	
  MBP Documents

  	
   

  	
  Work Letter

  
	
  Minor Alterations

  	
   

  	
  9.C(1)

  
	
  Monetary Default

  	
   

  	
  18.A

  
	
  Mortgage

  	
   

  	
  25

  
	
  Mortgagee

  	
   

  	
  25

  
	
  Operating Expenses

  	
   

  	
  4.D

  
	
  Permitted Transfer

  	
   

  	
  11.E

  
	
  Permitted Use

  	
   

  	
  5.A

  
	
  Prime Rate

  	
   

  	
  19.B

  
	
  Property

  	
   

  	
  2

  
	
  Provider

  	
   

  	
  7.C

  
	
  Rent

  	
   

  	
  4.A

  
	
  Rent Commencement Date

  	
   

  	
  4.A

  
	
  Service Failure

  	
   

  	
  7.B

  
	
  Special Installations

  	
   

  	
  29

  

 

2

 

	
  Substantial Completion

  	
   

  	
  Work Letter

  
	
  Taking

  	
   

  	
  17

  
	
  Tenant Parties

  	
   

  	
  13

  
	
  Tenant’s Insurance

  	
   

  	
  14.A

  
	
  Tenant’s Property

  	
   

  	
  14.A

  
	
  Tenant’s Removable Property

  	
   

  	
  29

  
	
  Time Sensitive Default

  	
   

  	
  18.B

  
	
  Transfer

  	
   

  	
  11.A

  
	
  Work Letter

  	
   

  	
  3.A

  

 

2.                                       Lease
Grant. Landlord leases the Premises to Tenant and Tenant
leases the Premises from Landlord, together with the right in common with
others to use any portions of the Property (defined below) that shall be
designated by Landlord for the common use of tenants and others, including, but
not limited to sidewalks, common corridors, vending areas, lobby areas and,
with respect to multi-tenant floors, restrooms and elevator foyers (the “Common  Areas”). “Property” consists
of the parcel(s) of land described on Exhibit “A-2”,
the Building and all appurtenant parking facilities, landscaping, fixtures,
Common Areas, service buildings and improvements now or hereafter constructed
thereon or on any land acquired by Landlord (or its affiliates) and added to
the Property from time to time.

 

3.                                       Term:
Adjustment of Commencement Date: Early Access.

 

A.                                    Term. This Lease shall
govern the relationship between Landlord and Tenant with respect to the
Premises from the Effective Date through the last day of the Term specified in
Section l.G (the “Expiration
Date”), unless terminated early in accordance with this
Lease. The Term of this Lease (as specified in Section l.G) shall commence
on the “Commencement Date”,
which shall be the earliest of (1) the date on which the
Landlord Work (defined below) is Substantially Complete, as determined pursuant
to the Work Letter (defined below), or (2) the date on which the Landlord
Work would have been Substantially Complete but for Tenant Delay, as such term
is defined in the Work Letter, or (3) the date Tenant takes possession of
any part of the Premises for purposes of conducting business. If Landlord is
delayed in delivering possession of the Premises or any other space due to any
reason, including Landlord’s failure to Substantially Complete the Landlord
Work by the Estimated Commencement Date, the holdover or unlawful possession of
such space by any third party, or for any other reason, such delay shall not be
a default by Landlord, render this Lease void or voidable, or otherwise render
Landlord liable for damages (except as otherwise provided in Section 3D
below) provided that Tenant shall have the right to terminate this Lease in
Tenant’s sole discretion if possession of the Premises is not delivered to
Tenant on or before April 30, 2006, by giving written notice of
termination to Landlord on or before the earlier of (1) the date upon
which possession of the Premises is delivered to Tenant, or (2) June 15,
2006. Promptly after the determination of the Commencement Date, the Expiration
Date, the Rent schedule and any other variable matters, Landlord shall prepare
and deliver to Tenant a commencement letter agreement substantially in the form
attached as Exhibit C. If such
commencement letter is not executed by Tenant or written objection delivered to
Landlord within 30 days after delivery of same by Landlord, then Tenant shall
be deemed to have agreed with the matters set forth therein. Notwithstanding
any other provision of this Lease to the contrary, if the Expiration Date would
otherwise occur on a date other than the last day of a calendar month, then the
Term shall be automatically extended to include the last day of such calendar
month, which shall become the Expiration Date. “Landlord Work” means the work, if any, that
Landlord is obligated to perform in the Premises pursuant to a separate work
letter agreement (the “Work Letter”),
if any, attached as Exhibit D.
If a Work Letter is not attached to this Lease or if an attached Work Letter does
not require Landlord to perform any work, the occurrence of the Commencement Date
shall not be conditioned upon the performance of work by Landlord.

 

B.                                    Acceptance
of Premises. Subject to the provisions of the Work Letter and Section 9B
hereof, the Premises are accepted by Tenant in “as is” condition and configuration
subject to (1) any Landlord obligation to perform Landlord Work, and (2) any
latent defects in the Premises of which Tenant notifies Landlord within one (l) year
after the Commencement Date (excluding defects in Work performed by Tenant
Parties (defined below)). TENANT HEREBY AGREES THAT
EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS LEASE, THERE ARE NO
REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, BY LANDLORD
REGARDING THE PREMISES, THE BUILDING OR THE PROPERTY.

 

C.                                    Early
Access. Tenant shall have access to the Premises fifteen
(15) days prior to the date the Landlord Work is Substantially Complete for the
sole purpose of installing its furniture, futures and improvements, provided
that such early access does not unreasonably interfere with the construction of
the Landlord Work. Early access to the Premises shall be subject to all of the
terms

 

3

 

and conditions of this Lease,
except that Tenant shall not be required to pay Base Rent and Tenant’s Pro Rata
Share of Excess Operating Expenses for any days of such early access.

 

D.                                    Late
Delivery of Premises.  Landlord and
Tenant acknowledge that Tenant’s existing Lease (“Existing tease”) at 2300
West Sahara, Las Vegas, Nevada (“Existing
Premises”) is scheduled to expire as of December 18,
2005 and that Tenant may be required to pay a premium in base rent (“Holdover Premium”)
for any holdover of the Existing Premises by Tenant under the
Existing Lease over and above the amount of base rent payable for the last
month of the term of the Existing Lease. In the event that the Commencement
Date does not occur on or before February 1, 2006 as a result of any
“Landlord Delay,” as that term is defined below, then Landlord shall, within
thirty (30) days after Landlord’s receipt of a reasonably particularized
invoice, reimburse Tenant for any Holdover Premium incurred by Tenant for the
Existing Premises under the Existing Lease for the period of such delay after February 1,
2006 until the Commencement Date under this Lease to the extent attributable to
such Landlord Delay. Landlord shall use its diligent good faith efforts to
complete the Landlord Work prior to February 1, 2006. If the current tenant
in the Premises fails to vacate the Premises by October 31, 2005, which is
the expiration date of its lease, then (i) Landlord shall Promptly file and
diligently pursue an action to recover the Premises from such tenant; and (ii) Landlord
shall authorize overtime work by Landlord’s contractor and its subcontractors
(at Landlord’s cost) if the Landlord Work would not otherwise be completed
prior to February 1, 2006. The term “Landlord Delay” shall mean any delay in the
Substantial Completion of the Tenant Improvements other than a Tenant Delay, as
defined in the Work Letter, or a Force Majeure Delay, as defined in Section 33C.

 

4.                                      Rent.

 

A.                                    Payments. As
consideration for this Lease, commencing on the later of (i) February 1, 2006,
or (ii) Commencement Date (the later of (i) or (ii) being referred to
herein as the “Rent  Commencement Date”), Tenant shall pay Landlord, without
any demand, setoff or deduction, the total amount of Base Rent, Tenant’s Pro
Rata Share of Excess Operating Expenses (defined in Section 4.B) and any
and all other sums payable by Tenant under this Lease (all of which are sometimes
collectively referred to as “Rent”). Tenant shall pay and be liable for all
rental, sales and use taxes (but excluding income taxes), if any, imposed upon
or measured by Rent under applicable Law. The monthly Base Rent and Tenant’s
Pro Rata Share of Excess Operating Expenses shall be due and payable in advance
on the first day of each calendar month without notice or demand, provided that
the first installment of Base Rent shall be payable on October 1, 2005.
All other items of Rent shall be due and payable by Tenant on or before 30 days
after billing by Landlord. All payments of Rent shall be by good and sufficient
check or by other means (such as automatic debit or electronic transfer)
acceptable to Landlord. If the Rent Commencement Date occurs on a day other
than the first day of a calendar month, the monthly Base Rent and Tenant’s Pro
Rata Share of any Excess Operating Expenses for the month shall be prorated on
a daily basis based on a 360 day calendar year. Landlord’s acceptance of less
than the correct amount of Rent shall be considered a payment on account of the
earliest Rent due. No endorsement or statement on a check or letter accompanying
a check or payment shall be considered an accord and satisfaction, and either
party may accept such check or payment without such acceptance being considered
a waiver of any rights such party may have under this Lease or applicable Law.
Tenant’s covenant to pay Rent is independent of every other covenant in this
Lease.

 

B.                                    Excess
Operating Expenses. Tenant shall pay Tenant’s Pro Rata Share of
the amount, if any, by which Operating Expenses (defined in Section 4 .D) for each calendar year during the
Term exceed Operating Expenses for the Base Year (the “Excess  Operating Expenses”).  Notwithstanding
the foregoing, Tenant’s Pro Rata Share of Controllable Expenses (defined below)
shall not increase by more than 5% over
Tenant’s Pro Rota Share of Controllable Expenses in the previous calendar year,
including the Base Year, on a cumulative, compounded basis. However, any increases
in Excess Operating Expenses not recovered by Landlord due to the foregoing
limitation shall be carried forward into all succeeding calendar years during
the Term (subject to the foregoing 5% limitation) until fully recouped by
Landlord. For example, if Controllable Expenses were $100.00 in 2006, then the
total Controllable Expenses that could be included in Operating Expenses in
2007 would be $105.00, for 2008 would be $I10.25, for 2009 would be $115.76,
and so on.  In the preceding example, if
Controllable Expenses in both 2008 and 2009 were $112.00, then Landlord could
include only $110.25 in Operating Expenses in 2008, but $113.75 (the
Controllable Expenses plus the carry-forward from 2008) in 2009. The term “Controllable Expenses” means all
Operating Expenses, excluding expenses relating to the cost of utilities,
property insurance, real estate taxes

 

4

 

and
assessments, and other expenses directly arising from statutory increases in
the minimum wage. In addition to the foregoing limitation upon increases in
Controllable Operating Expenses, Tenant’s Pro Rata Share of water usage fees
and charges as a part of Operating Expenses shall not increase by more than 10%
of Tenant’s Pro Rata Share of such fees and charges in the previous calendar
year, including (the Base Year, on a cumulative, compounded basis. Any
increases in water usage fees and charges not recovered by Landlord due to the foregoing
limitation shall be carried forward into all succeeding calendar years during
the Term (subject to the foregoing 10% limitation) until fully recouped by
Landlord. If Operating Expenses in any calendar year decrease below the amount
of Operating Expenses for the Base Year, Tenant’s Pro Rata Share of Excess
Operating Expenses for that calendar year shall be $0. In no event shall Base Rent be reduced if Operating Expenses
for any calendar year are less than Operating Expenses for the Base Year. On or
about January 1 of each calendar year, Landlord shall provide Tenant with a
good faith estimate of the Excess Operating Expenses for such calendar year
during the Term. On or before the first day of each month, Tenant shall pay to
Landlord a monthly installment equal to one-twelfth of Tenant’s Pro Rata Share
of Landlord’s estimate of the Excess Operating Expenses, If Landlord reasonably
determines that its good faith estimate of the Excess Operating Expenses was
incorrect, Landlord may provide Tenant with a revised estimate. After its
receipt of the revised estimate, Tenant’s monthly payments shall be based upon
the revised estimate. If Landlord does not provide Tenant with an estimate of the
Excess Operating Expenses by January 1 of a calendar year, Tenant shall
continue to pay monthly installments based on the most recent estimate(s) until
Landlord provides Tenant with the new estimate. Upon delivery of the new
estimate, an adjustment shall be made for any month for which Tenant paid
monthly installments based on the same year’s prior incorrect estimate(s).
Tenant shall pay Landlord the amount of any underpayment within 30 days after
receipt of the new estimate. Any overpayment shall be credited against the next
sums due and owing by Tenant or, if no further Rent is due, refunded directly
to Tenant within 30 days of determination. The obligation of Tenant to pay for
Excess Operating Expenses as provided herein shall survive the expiration or
earlier termination of this Lease.

 

C.                                    Reconciliation
of Operating Expenses.  Within 120 days after the end of each calendar
year or as soon thereafter as is practicable, Landlord shall furnish Tenant
with a statement of the actual Operating Expenses and Excess Operating Expenses
for such calendar year. If the most recent estimated Excess Operating Expenses
paid by Tenant for such calendar year are more than the actual Excess Operating
Expenses for such calendar year, Landlord shall apply any overpayment by Tenant
against Rent due or next becoming due; provided, if the Term expires before the
determination of the overpayment, Landlord shall, within 30 days of
determination, refund any overpayment to Tenant after first deducting the
amount of Rent due. If the most recent estimated Excess Operating Expenses paid
by Tenant for the prior calendar year are less than the actual Excess Operating
Expenses for such year, Tenant shall pay Landlord, within 30 days after its
receipt of the statement of Operating Expenses, any underpayment for the prior
calendar year.

 

D.                                    Operating
Expenses Defined. “Operating Expenses” means all costs and expenses incurred
or accrued in each calendar year in connection with the ownership, operation,
maintenance,  management,
repair and protection of the Property which are directly attributable or
reasonably allocable to the Building in accordance with sound real estate
accounting principles, including Landlord’s personal property used in
connection with the Property and including all costs and expenditures relating
to the following:

 

(1)                                  Operation,
maintenance, repair and replacements of any part of the Property, including the
mechanical, electrical, plumbing, HVAC, vertical transportation, fire
prevention and warning and access control systems; materials and supplies (such
as building standard light bulbs and ballasts); equipment and tools; floor,
wall and window coverings; personal property; required or beneficial easements;
and related service agreements and rental expenses.

 

(2)                                  Administrative
costs and management fees, including accounting, information and professional
services (excluding legal and other professional fees incurred in the
preparation and negotiation of this lease and negotiations and disputes with
other tenants); management office(s); and wages, salaries, benefits,
reimbursable expenses and taxes (or allocations thereof) for full and part time
personnel involved in operation, maintenance and management.

 

(3)                                  Janitorial
service; window cleaning; waste disposal; gas, water and sewer and other
utility charges (including add-ons); and landscaping, including all applicable
tools and supplies.

 

5

 

(4)                                  Property,
liability and other insurance coverages carried by Landlord, including
deductibles and risk retention programs and a proportionate allocation of the
cost of blanket insurance policies maintained by Landlord and/or its Affiliates
(defined below).

 

(5)                                  Real estate
taxes, assessments (including interest on installment payments), business
taxes, excises, association dues, fees, levies, charges and other taxes of
every kind and nature whatsoever, general and special, extraordinary and
ordinary, foreseen and unforeseen, which may be levied or assessed against or
arise in connection with ownership, use, occupancy, rental, operation or possession
of the Property (including personal property taxes for property that is owned
by Landlord and used in connection with the operation, maintenance and repair
of the Property), or substituted, in whole or in part, for a tax previously in
existence by any taxing authority, or assessed in lieu of a tax increase, or
paid as rent under any ground lease. Real estate taxes do not include
Landlord’s income, franchise or estate taxes (except to the extent such
excluded taxes arc assessed in lieu of taxes included above).

 

(6)                                  Compliance with
Laws, including license, permit and inspection fees (but not in duplication of
capital expenditures amortized as provided in Section 4.D(9)); and all
expenses and fees, including attorneys’ fees and court or other venue of
dispute resolution costs, incurred in negotiating or contesting real estate
taxes or the validity and/or applicability of any governmental enactments which
may affect Operating Expenses; provided Landlord shall credit against Operating
Expenses any refunds received from such negotiations or contests to the extent
originally included in Operating Expenses (less Landlord’s costs).

 

(7)                                  Building safety
services, to the extent provided or contracted for by Landlord.

 

(8)                                  Goods and services
purchased from Landlord’s subsidiaries and Affiliates to the extent the cost of
same is generally consistent with rates charged by unaffiliated third parties
for similar goods end services.

 

(9)                                  Amortization of
capital expenditures incurred; (a) to conform with Laws; (b) to
provide or maintain building standards (other than building standard tenant
improvements); or (c) with the intention of promoting safety or reducing
or controlling increases in Operating Expenses, such as lighting retrofit and
installation of energy management systems. Such expenditures shall be amortized
uniformly over the following periods of time (together with interest on the
unamortized balance at the Prime Rate (defined in Section 19.B) as of the
date incurred plus 2%): for building improvements, the shorter of 10 years or
the estimated useful life of the improvement; and for all other items, 3 years
for expenditures under $50,000 and 5 years for expenditures in excess of
$50,000. Notwithstanding the foregoing, Landlord may elect to amortize capital
expenditures under this subsection over a longer period of time based upon (i) the
purpose and nature of the expenditure, (ii) the relative capital burden on
the Properly, (iii) for cost savings projects, the anticipated payback
period, and (iv) otherwise in accordance with sound real estate accounting
principles consistently applied.

 

(10)                            Electrical
services used in the operation, maintenance and use of the Property; sales,
use, excise and other taxes assessed by governmental authorities on electical
services supplied to the Property, and other costs of providing electrical
services to the Property.

 

(11)                            All amounts
charged to the Building pursuant to the RBA. The “RBA”
shall  mean (i)
that certain Amendment and Restatement of the Grant of Reciprocal Easements and
Declaration of Covenants recorded in the Official Records of Clark County,
Nevada on September 8, 1995 in Book 950908 as Instrument No. 01919 as may be amended from time to time
and (ii) that certain Howard Hughes Declaration of Covenants recorded in the
Official Records of Clark County, Nevada on October 11,1985 in Book 2199
as Instrument No. 2158547 as amended by the First Amendment to Howard
Hughes Declaration of Covenants dated August 28,1995 recorded in the
Official Records of Clark County, Nevada on September 8, 1995 in Book
950908 as Instrument No. 01918 as further amended by the Second Amendment to
Howard Hughes Declaration of Covenants dated November 27,1995 recorded in
the Official Records of Clark County, Nevada on December 6, 1995 in Book 951206
as Instrument No. 00257, as may be amended from time to time.

 

Operating
Expenses shall be calculated in accordance with sound real estate accounting
principles consistently applied. As used in this Lease, the “sound real estate
accounting principles” used by Landlord in calculating Operating Expenses will,
to the extent applicable and except as

 

6

 

otherwise
provided in this Lease, be consistent with “generally accepted accounting
principles” or “GAAP”.

 

E.                                      Exclusions
from Operating Expenses. Operating Expenses exclude
the following expenditures:

 

(1)                                  Leasing commissions,
attorneys’ fees and other expenses related to leasing tenant space and
constructing improvements, for the sole benefit of an individual tenant.

 

(2)                                  Goods and services furnished
to an individual tenant of the Building which are above building standard and
which are separately reimbursable directly to Landlord in addition to Excess
Operating Expenses.

 

(3)                                  Repairs, replacements and general
maintenance paid by insurance proceeds or condemnation proceeds.

 

(4)                                  Except as provided in Section 4.D(9),
depreciation, amortization, Interest payments on any encumbrances on the
Property and the cost of capital improvements or additions.

 

(5)                                  Costs of installing any specialty
service, such as an observatory broadcasting facility, luncheon club, or
athletic or recreational club.

 

(6)                                  Expenses for repairs or
maintenance related to the Property which have been reimbursed to Landlord
pursuant to warranties or service contracts.

 

(7)                                  Costs (other than maintenance
costs) of any art work (such as sculptures or paintings) used to decorate the
Building.

 

(8)                                  Principal payments on
indebtedness secured by liens against the Property, or costs of refinancing
such indebtedness.

 

(9)                                  Any fines or
penalties levied against Landlord by the Las Vegas Valley Water District for
excessive water usage.

 

(10)                            Any liens against the
Building and the expense of removing the same which are not related to work
done or alleged to have been done by or for the benefit of Tenant.

 

(11)                            Any administrative or
overhead costs of Landlord’s regional management office, other than allocable
charges for services provided for the direct support of the Property (such as,
for example, information technology, property tax and energy management
support).

 

F.                                      Proration
of Operating Expenses; Adjustments. If Landlord incurs
Operating Expenses for the Property together with one or more other buildings
or properties, whether pursuant to a reciprocal casement agreement, common area
agreement or otherwise, the shared costs and expenses shall be equitably
prorated and apportioned by Landlord between the Property and the other
buildings or properties. If the Building is not 100% occupied during any
calendar year or partial calendar year or if Landlord is not supplying services
to 100% of the total Rentable Square Footage of the Building at any time during
a calendar year or partial calendar year. Operating Expenses shall be
determined as if the Building had been 100% occupied and Landlord had been
supplying services to 100% of the Rentable Square Footage of the Building
during that calendar year. If Tenant pays for Tenant’s Pro Rata Share of
Operating Expenses based on increases over a “Base Year”  and
Operating Expenses for a calendar year are determined as provided in the prior
sentence, Operating Expenses for the Base Year shall also be determined as if
the Building had been 100% occupied and Landlord had been supplying services to
100% of the Rentable Square Footage of the Building. The extrapolation of
Operating Expenses under this Section shall be performed by Landlord by
adjusting the cost of those components of Operating Expenses that arc impacted
by changes in the occupancy of the Building.

 

G.                                    Audit
Rights. Within 60 days after Landlord furnishes its
statement of actual Operating Expenses for any calendar year (including the
Base Year) (the “Audit Election
Period”), Tenant may, at its expense, elect
to audit Landlord’s Operating Expenses for such calendar year only, subject to
the following conditions: (1) there is no uncured event of default under
this Lease; (2) the audit shall be prepared by an independent certified
public accounting firm of recognized national standing; (3) in no event
shall any audit be performed by a firm retained on a “contingency fee”

 

7

 

basis;
(4) the audit shall commence within 30 days after Landlord makes
Landlord’s books and records available to Tenant’s auditor and shall conclude
within 60 days after commencement; (5) the audit shall be conducted during
Landlord’s normal business hours at the location where Landlord maintains its
books and records and shall not unreasonably interfere with the conduct of
Landlord’s business; (6) Tenant and its accounting firm shall treat any
audit in a confidential manner and shall each execute Landlord’s
confidentiality agreement for Landlord’s benefit prior to commencing the audit;
and (7) the accounting firm’s audit report shall, at no charge to
Landlord, be submitted in draft form for Landlord’s review and comment before
the final approved audit report is delivered to Landlord, and any reasonable
comments by Landlord shall be incorporated into the final audit report.
Notwithstanding the foregoing, Tenant shall have no right to conduct an audit
if Landlord furnishes to Tenant an audit report for the calendar year in
question prepared by an independent certified public accounting firm of
recognized national standing (whether originally prepared for Landlord or another
party). This paragraph shall not be construed to limit, suspend, or abate
Tenant’s obligation to pay Rent when due, including estimated Excess Operating
Expenses. Landlord shall credit any overpayment determined by the final
approved audit report against the next Rent due and owing by Tenant or, if no
further Rent is due, refund such overpayment directly to Tenant within 30 days
of determination. Likewise, Tenant shall pay Landlord any underpayment
determined by the final approved audit report within 30 days of determination.
The foregoing obligations shall survive the expiration or termination of this
Lease. If Tenant does not give written notice of its election to audit
Landlord’s Operating Expenses during the Audit Election Period, Landlord’s
Operating Expenses for the applicable calendar year shall be deemed approved for
all purposes, and Tenant shall have no further right to review or contest the
same. The right to audit granted hereunder is personal to the initial Tenant
named in this Lease and to any assignee under a Permitted Transfer (defined
below) and shall not be available to any subtenant under a sublease of the
Premises. If the audit proves that Landlord’s calculation of Operating Expenses
for the calendar year under inspection was overstated by more than five percent
(5%), then, after verification,
Landlord shall pay Tenant’s actual reasonable out-of-pocket audit and inspection
fees applicable to the review of said calendar year statement within thirty
(30) days after receipt of Tenant’s invoice therefor.

 

5.                                       Tenant’s Use of Premises.

 

A.                                    Permitted
Uses. The Premises shall be used only for general office
use (the “Permitted Use”)  and for no other use whatsoever. Tenant shall not
use or permit the use of the Premises for any purpose which is illegal, in
violation of the REA or any other recorded covenants or restrictions, creates
obnoxious odors (including tobacco smoke), noises or vibrations, is dangerous

to persons or property, could increase Landlord’s insurance costs, or which, in
Landlord’s reasonable opinion, unreasonably disturbs any other tenants of the
Building or interferes with the operation or maintenance of the Property.
Except as provided below, the following uses are expressly prohibited in the
Premises: schools, government offices or agencies; personnel agencies;
collection agencies; credit unions; data processing, telemarketing or
reservation centers; medical treatment and health care; radio, television or
other telecommunications, broadcasting; restaurants and other retail; customer
service offices of a public utility company; or any other purpose which would,
in Landlord’s reasonable opinion, impair the reputation or quality of the
Building, overburden any of the Building systems, Common Areas or parking
facilities (including any use which would create a population density in the
Premises which is in excess of the density which is standard for the Building),
impair Landlord’s efforts to lease space or otherwise interfere with the
operation of the Property. Notwithstanding the foregoing, the following
ancillary uses are permitted in the Premises only so long as they do not, in
the aggregate; occupy more than 10% of the Rentable Square Footage of the
Premises or any single floor (whichever is less): (1) the following
services provided by Tenant exclusively to its employees: schools, training and
other educational services; credit unions; and similar employee services; and (2) the
following services directly and exclusively supporting Tenant’s business:
telemarketing; reservations; storage; data processing; debt collection; and
similar support services.

 

B.                                    Compliance
with Laws. Tenant shall comply with all Laws regarding the
operation of Tenant’s business and the use, condition, configuration and
occupancy of the Premises and the use of the Common Areas. Tenant within 10
days after receipt, shall provide Landlord with copies of any notices Tenant
receives regarding a violation or alleged or potential violation of any Laws. Tenant
shall comply with the rules and regulations of the Building attached as Exhibit B
and such other reasonable rules and regulations (or modifications thereto)
adopted by Landlord from time to time. Such rules and regulations will be
applied in an equitable manner as reasonably determined by

 

8

 

Landlord.
Tenant shall also cause its agents, contractors, subcontractors, employees,
customers, and, subtenants to comply with all rules and regulations.

 

C.                                    Tenant’s
Security Responsibility. Tenant shall (1) lock
the doors to the Premises and take other reasonable steps to secure the
Premises and the personal property of all Tenant Parties (defined in Section 13)
and any of Tenant’s transferees, contractors or licensees in the Common Areas
and parking facilities of the Building and Property, from unlawful intrusion,
theft, fire and, other hazards; (2) keep and maintain in good working
order all security and safety devices installed in the Premises by or for the
benefit of Tenant (such as locks, smoke detectors and burglar alarms); and (3) cooperate
with Landlord and other tenants in the Building on Building safety matters.
Tenant acknowledges that any security or safety measures employed by Landlord
are for the protection of Landlord’s own interests; that Landlord is not a
guarantor of the security or safety of the Tenant Parties or their property;
and that such security and safety matters are the responsibility of Tenant and
the local law enforcement authorities.

 

6.                                       Intentionally
Omitted.

 

7.                                       Services
Furnished by Landlord.

 

A.                                    Standard
Services. Subject to the provisions of this Lease, Landlord
agrees to furnish (or cause a third party provider to furnish) the following
services to Tenant during the Term:

 

(1)                                  Water service
for use in the lavatories on each floor on which the Premises are located.

 

(2)                                  Heat and air
conditioning in season during Normal Business Hours, at such temperatures and
in such amounts as required by governmental authority or as Landlord determines
are standard for the Building. Tenant, upon such notice as is reasonably
required by Landlord, and subject to the capacity of the Building systems, may
request HVAC service during hours other than Normal Business Hours. Tenant
shall pay Landlord for such additional service at a rate equal to $45.00 per
operating hour per floor (the “Hourly
HVAC Charge”). Landlord shall have the right,
upon 30 days prior written notice to Tenant, to adjust the Hourly HVAC Charge
from time to time, but not more than once per calendar year, based
proportionately upon increases in HVAC coats, which costs include utilities,
taxes, surcharges, labor, equipment, maintenance and repair. Notwithstanding
the foregoing, the first one thousand five hundred (1,500) hours of overtime
HVAC utilized by Tenant in any calendar year shall be charged to Tenant at the
discounted rate if Twenty-Five Dollars ($25.00) per hour. In the event that
Tenant exercises its option to expand pursuant to Rider No. 2 to this
Lease, Tenant shall be entitled to a pro rata amount of discounted overtime
HVAC usage in the Expansion Space. The building standard HVAC system is
designed to maintain temperatures within the Premises during all seasons of not
more than 78° Fahrenheit dry bulb, when, for cooling purposes, outside
temperatures are not more than 108° Fahrenheit dry bulb, and 72° Fahrenheit dry
bulb, when, for heating purposes, outside temperatures are not less than 24° Fahrenheit
dry bulb.

 

(3)                                  Maintenance and
repair of the Property as described in Section 9.B.

 

(4)                                  Janitorial service
five days per week (excluding Holidays), as determined by Landlord. If Tenant’s
use of the Premises, floor covering or other improvements require special
services in excess of the standard services for the Building, Tenant shall pay
the additional cost attributable to the special services.

 

(5)                                  Elevator service,
subject to proper authorization and Landlord’s policies and procedures for use
of the elevator(s) in the Building.

 

(6)                                  Exterior and
interior window washing at such intervals as determined by Landlord.

 

(7)                                  Electricity to
the Premises for general office use, in accordance with and subject to the
terms and conditions in Article 8.

 

(8)                                  Landlord shall
provide security for the Building and the Property in a manner consistent with
the security provided in other comparable first class office buildings of
similar size in Clark County, Nevada.

 

9

 

B.                                    Service
Interruptions. For purposes of this Lease, a “Service Failure”
shall mean any interruption, suspension or termination of services being
provided to Tenant by Landlord or by third-party providers, whether engaged by
Tenant or pursuant to arrangements by such providers with Landlord, which are
due to (1) the application of Laws; (2) the failure, interruption or malfunctioning
of any electrical or mechanical equipment, utility or other service to the
Building or Property; (3) the performance of repairs, maintenance, improvements
or alterations; or (4) the occurrence of any other event or cause whether
or not within the reasonable control of Landlord. No Service Failure shall
render Landlord liable to Tenant, constitute a constructive eviction of Tenant,
give rise to an abatement of Rent, or relieve Tenant from the obligation to
fulfill any covenant or agreement. In no event shall Landlord be liable to
Tenant for any loss or damage, including the theft of Tenant’s Property
(defined in Article 14), arising out of or in connection with any Service
Failure or the failure of any Building safety services, personnel or equipment.
Notwithstanding the foregoing, commencing on the 5th consecutive Business Day
of a Service Failure which is beyond the control of Landlord (unless the
Service Failure is caused by a fire or other casualty, in which event Section 16
controls), Tenant shall, as its sole remedy, be entitled to an equitable
diminution of Base Rent based upon the pro rata portion of the Premises which
is rendered unfit for occupancy for the Permitted Use, except to the extent
such Service Failure is caused by the gross negligence or willful misconduct of
a Tenant Party. To the extent such Service Failure is caused by the ordinary negligence
of a Tenant Party, Tenant shall still be entitled to the equitable diminution
of Base Rent as described above, provided that Tenant shall first pay to
Landlord Landlord’s insurance deductible on its All Risk Property insurance
policy.

 

C.                                    Third
Party Services. If Tenant desires any service which Landlord has
not specifically agreed to provide in this Lease, such as private security
systems or telecommunications services serving the Premises, Tenant shall
procure such service directly from a reputable third party service provider (“Provider”)  for
Tenant’s own account. Tenant shall require each Provider to comply with the
Building’s rules and regulations, all Laws, and Landlord’s reasonable
policies and practices for the Building. Tenant acknowledges Landlord’s current
policy that requires all Providers utilizing any area of the Property outside
the Premises to be approved by Landlord which approval shall not be
unreasonably withheld, and to enter into a written agreement acceptable to Landlord
prior to gaining access to, or making any installations in or through, such
area. Accordingly, Tenant shall give Landlord written notice sufficient for
such purposes;

 

8.                                       Use of Electrical Services by Tenant.

 

A.                                    Landlord’s
Electrical Service. Subject to the terms of this Lease, Landlord
shall furnish building standard electrical service to the Premises sufficient
to operate customary lighting, office machines and other equipment of similar
low electrical consumption. The following parameters constitute building
standard electrical design capacity: (i) the total connected electrical load of
all electrical equipment serving the Premises shall not exceed an average of
4.0 watts multiplied by the Rentable Square Footage of the Premises delivered
through the electrical riser to the electrical room on the floor where the
Premises are located; (ii) the connected electrical load for lighting shall
not exceed an average of 1.5 watts multiplied by the Rentable Square Footage of
the Premises; (iii) emergency power shall be limited to egress lighting only
and at Landlord’s option shall be provided by Tenant’s battery backup fixtures
or Landlord’s emergency power system; and (iv) no electrical equipment
shall exceed the safe and lawful capacity of the existing electrical circuit(s)
and facilities serving the Premises. Landlord may, at any time and from time to
time, calculate Tenant’s actual electrical consumption in the Premises by a survey
conducted by a  reputable consultant selected by
Landlord, all at Tenant’s expense. The cost of any electrical consumption in
excess of that which Landlord determines is standard for the Building shall be
paid by Tenant in accordance with Section 8.D. The furnishing of
electrical services to the Premises shall be subject to the rules, regulations
and practices of the supplier of such electricity and of any municipal or other
governmental authority regulating the business of providing electrical utility service.
Landlord shall not be liable or responsible to Tenant for any loss, damage or
expense which Tenant may sustain or incur if either the quantity or character
of the electrical service is changed or is no longer available or no longer
suitable for Tenant’s requirements. Landlord agrees to include provisions which
are substantially similar to this Section 8.A in all other leases for premises
in the Building which are entered into after the Effective Date and to enforce
this Section 8.A and all such similar provisions in a non-discriminatory
manner.

 

B.                                    Selection
of Electrical Service Provider. Landlord shall have and
retain the sole right to select the provider of electrical services to the
Building and/or the Property. To the fullest extent permitted by Law, Landlord
shall have the continuing right to change such utility provider.

 

10

 

All
charges and expenses incurred by Landlord due to any such changes in electrical
services with the intention of controlling or reducing electrical service
costs, or improving or preventing a decline in service, including maintenance,
repairs, installation and related costs, shall be included in the electrical
services costs referenced in Section 4.D(10), unless paid directly by
Tenant. Landlord agrees to use commercially reasonable efforts to minimize the
cost of electricity used in the Building.

 

C.                                    Submetering. Landlord shall
have the continuing right, upon 30 days written notice, to install a submeter
for the Premises at Tenant’s expense, but such expense shall only be charged to
Tenant if Landlord is installing submeters for all or substantially all tenants
or has a reasonable belief that Tenant’s electrical consumption is above
building standard. Concurrently with Landlord’s approval of the Approved
Construction Documents and concurrently with Landlord’s approval of any plans
for Alterations which include electrical design, Landlord shall advise Tenant as
to whether or not the Landlord Work to be constructed in the Premises pursuant
to the Work Letter or any alteration proposed by Tenant would be likely to
result in above-standard electrical consumption. If submetering is installed
for the Premises, Landlord may charge for Tenant’s actual electrical
consumption monthly in arrears for the kilowatt hours used, a rate per kilowatt
hour equal to that charged to Landlord by the provider of electrical service to
the Building during the same period of time, except as to electricity directly
purchased by Tenant from third-party providers after obtaining Landlord’s
consent to the same. In the event Landlord is unable to determine the exact kilowatt
hourly charge during the period of time, Landlord shall use the average
kilowatt hourly charge to the Building for the first billing cycle ending after
the period of time in question. Even if the Premises are submetered, Tenant
shall remain obligated to pay Tenant’s Pro Rata Share of the cost of electrical
services as provided in Section 4.B, except that Tenant shall be entitled
to a credit against electrical services costs equal to that portion of the
amounts actually paid by Tenant separately and directly to Landlord which are
attributable to building standard electrical services submetered to the
Premises.

 

D.                                    Excess
Electrical Service. Tenant’s use of electrical
service shall not exceed, in voltage, rated capacity, use beyond Normal
Business Hours or overall load, that which Landlord deems to be standard for
the Building (subject to Section 8.A above). If Tenant requests permission
to consume excess electrical service, Landlord may refuse to consent or may
condition consent upon conditions that Landlord reasonably elects (including
the installation of utility service upgrades, meters, submeters, air handlers
or cooling units). The costs of any approved additional consumption (to the
extent permitted by Law), installation and maintenance shall be paid by Tenant.

 

9.                                      Repairs
and Alterations.

 

A.                                    Tenant’s
Repair Obligations. Tenant shall keep the Premises in good
condition and repair, ordinary wear and tear excepted. Tenant’s repair
obligations include, without limitation, repairs to; (1) floor covering
and/or raised flooring; (2) interior partitions; (3) doors; (4) the
interior side of demising walls; (5) electronic, phone and data cabling
and related equipment (collectively, “Cable”)  that is installed by or for the
benefit of Tenant whether located in the Premises or in other portions of the
Building; (6) supplemental air conditioning units, private showers and
kitchens, including hot water heaters, plumbing, dishwashers, ice machines and
similar facilities serving Tenant exclusively; (7) phone rooms used
exclusively by Tenant; (8) Alterations (defined below) performed by
contractors retained by Tenant, including related HVAC balancing; and (9) all
of Tenant’s furnishings, trade fixtures, equipment and inventory. Prior to
performing any repair obligation which may affect the systems or structure of
the Building or any portion of the Common Areas or space leased to other
tenants, or which requires work to be performed outside of the Premises or
inside the walls or above the ceiling of the Premises, Tenant shall give
written notice to Landlord describing the necessary maintenance or repair. Upon
receipt of such notice, Landlord may elect either to perform any of the
maintenance or repair obligations specified in such notice, or require that
Tenant perform such obligations by using contractors approved by Landlord.
After a contractor has been approved by Landlord, Tenant may continue to use
such contractor for future repairs until Landlord sends Tenant notice to stop
using the contractor. All work shall be performed at Tenant’s expense in
accordance with the rules and procedures described in Section 9.C
below. If Tenant fails to
commence any repairs to the Premises for more than 15 days after notice from
Landlord (although, notice shall not be required if there is an emergency) and
thereafter diligently pursue the completion of such repairs, Landlord may, in
addition to any other remedy available to Landlord, make the repairs, and
Tenant shall pay to Landlord the reasonable cost of the repairs within 30 days
after receipt of an invoice, together with an administrative charge in an
amount equal to 15% of the cost of the repairs.

 

11

 

B.                                    Landlord’s
Repair Obligations. Landlord shall keep and maintain in good
repair and working order and make repairs to and perform maintenance upon: (1)
structural elements of the Building; (2) standard mechanical (including HVAC),
electrical, plumbing and fire/life safety systems serving the Building
generally; (3) Common Areas; (4) the roof of the Building; (5) exterior and
interior surface of exterior windows of the Building; and (6) elevators serving
the Building. Landlord shall promptly make repairs (taking into account the
nature and urgency of the repair) for which Landlord is responsible. If any of the
foregoing maintenance or repair is necessitated due to the acts or omissions of
any Tenant party (defined in Section 13), Tenant shall pay the costs of such repairs
or maintenance to Landlord within 30 days after receipt of an invoice, together
with an administrative Charge in an amount equal to 15% of the cost of the
repairs.

 

C.                                    Alterations.

 

(1)                                  When
Consent is Required. Tenant shall not
make alterations, additions or improvements to the Premises or install any
Cable in the Premises or other portions of the Building (collectively, “Alterations”)  without first obtaining the written
consent of Landlord in each instance which consent shall not be unreasonably
withheld. However, Landlord’s consent shall not be required for any Alteration
that satisfies all of the following criteria (a “Minor Alteration”): (a)
is of a cosmetic nature such as painting, wallpapering, hanging pictures and
installing carpeting; (b) is not visible from outside the Premises or Building;
(c) will not affect the systems or structure of the Building; (d) does not
require work to be performed inside the walls or above the ceiling of the
Premises (provided that pulling cabling through existing conduit, without any
work being performed inside the walls or above the celling of the Premises, is
agreed to be a Minor Alteration); and (e) docs not cost in the aggregate more
than Fifty Thousand Dollars ($50,000).

 

(2)                                  Requirements
For All Alterations, Including Minor Alterations.
Prior to starling work on any Alteration, Tenant shall furnish
to Landlord for review and approval: plans and specifications; names of
proposed contractors (provided that Landlord may designate specific contractors
with respect to Building systems); copies of contracts; necessary permits and
approvals; evidence of contractors’ and subcontractors’ insurance; and Tenant’s
security for performance of the Alteration. Changes to the plans and specifications
must also be submitted to Landlord for its approval. Some of the foregoing
requirements may be waived by Landlord for the performance of specific Minor
Alterations; provided that such waiver is obtained in writing prior to the
commencement of such Minor Alterations. Landlord’s waiver on one occasion shall
not waive Landlord’s right to enforce such requirements on any other occasion.
Alterations shall be constructed in a good and workmanlike manner using
materials of a quality that is at least equal to the quality designated by
Landlord as the minimum standard for the Building. Landlord may designate
reasonable rules, regulations and procedures for the performance of Alterations
in the Building and, to the extent reasonably neccessary to avoid disruption to
the occupants of the Building, shall have the right to designate the time when
Alterations may be performed. Tenant shall reimburse Landlord within 30 days
after receipt of an invoice for reasonable out-of-pocket sums paid by Landlord
for third party examination of Tenant’s plans for Alterations. In addition,
within 30 days after receipt of an invoice from Landlord, Tenant shall pay to Landlord
a fee equal to 5% of the total cost of any Alterations which affect the systems
or structure of the Building for Landlord’s oversight and coordination of such
Alterations. No later than 30 days after completion of the Alterations, Tenant
shall furnish “as-built” plans (which shall not be required for Minor
Alterations), completion affidavits, full and final waivers of liens, receipts
and bills covering all labor and materials. Tenant shall assure that the
Alterations comply with all insurance requirements and Laws’.

 

(3)                                  Landlord’s
Liability For Alterations. Landlord’s
approval of an Alteration shall not be a representation by Landlord that the
Alteration complies with applicable Laws or will be adequate for Tenant’s use.
Tenant acknowledges that Landlord is not an architect or engineer, and that the
Alterations will be designed and/or constructed using independent architects,
engineers and contractors. Accordingly, Landlord does not guarantee or warrant
that the applicable construction documents will comply with Laws or be free
from errors or omissions, or that the Alterations will be free from defects,
and Landlord will have no liability therefor.

 

10.                                 Entry
by Landlord. Landlord, its agents, contractors and
representatives may enter the Premises to inspect or show the Premises, to
clean and make repairs, alterations or additions to the Premises, and to
conduct or facilitate repairs, alterations or additions to any portion of the
Building, including other tenants’ premises. Except in emergencies or to
provide janitorial and other Building services after Normal Business Hours,
Landlord shall provide Tenant With reasonable prior notice of entry into the
Premises, which may be given orally to Tenant’s office manager or managing

 

12

 

shareholder.
Landlord shall have the right to temporarily close all or a portion of the
Premises to perform repairs, alterations and additions, if reasonably necessary
for the protection and safety of Tenant and its employees. Except in
emergencies Landlord will not close the Premises if the work can reasonably be
completed on weekends and after Normal Business Hours; provided, however, that
Landlord is not required to conduct work on weekends or after Normal Business
Hours if such work can be conducted without closing the Premises, Entry by
Landlord for any such purposes shall not constitute a constructive eviction or
entitle Tenant to an abatement or reduction of Rent.

 

11.                                 Assignment
and Subletting.

 

A.                                    Landlord’s
Consent Required. Subject to the remaining
provisions of this Article 11, but notwithstanding anything to the contrary
contained elsewhere in this Lease, Tenant shall not assign, transfer or
encumber any interest in this Lease (either absolutely or collaterally) or
sublease or allow any third party to use any portion of the Premises
(collectively or individually, a “Transfer”)  without the prior written consent
of Landlord, which consent shall not be unreasonably Withheld. Without
limitation, Tenant agrees that Landlord’s consent shall not be considered unreasonably
withheld if: (1) the proposed transferee’s financial condition does not meet
the criteria Landlord uses to select Building tenants having similar leasehold
obligations; (2) the proposed transferee is a governmental organization or
present occupant of the Property, or Landlord is otherwise engaged in lease
negotiations with the proposed transferee for other premises in the Property; (3)
any uncured event of default exists under this Lease (or a condition exists
which, with the passage of time or giving of notice, would become an event of
default); (4) any portion of the Building or Premises would likely become
subject to additional or different Laws as a consequence of the proposed
Transfer; (5) the proposed transferee’s use of the Premises conflicts with the Permitted
Use or any exclusive usage rights granted to any other tenant in the Building; (6)
the use, nature, business, activities or reputation in the business community
of the proposed transferee (or its principals, employees or invitees) does not
meet Landlord’s standards for Building tenants; (7) either the Transfer or any
consideration payable to Landlord in connection therewith adversely affects the
real estate investment trust qualification tests applicable to Landlord or its
Affiliates; or (8) the proposed transferee is or has been involved in
litigation with Landlord or any of its Affiliates. Tenant shall not be entitled
to receive monetary damages based upon a claim that Landlord unreasonably
withheld its consent to a proposed Transfer and Tenant’s sole remedy shall be
an action to enforce any such provision through specific performance or
declaratory judgment. Any attempted Transfer in violation of this Article is
voidable at Landlord’s option.

 

B.                                    Consent
Parameters/Requirements. As part of Tenant’s request
for, and as a condition to, Landlord’s consent to a Transfer, Tenant shall
provide Landlord with financial statements for the proposed transferee, a
complete copy (unexecuted) of the proposed assignment or sublease and other
contractual documents, and such other information as Landlord may reasonably request.
Landlord shall then have the right (but not the obligation) to terminate this
Lease as of the date the Transfer would have been effective (“Landlord Termination Date”) with respect
to the portion of the Premises which Tenant desires to Transfer, in such event,
Tenant shall Vacate such portion of the Premises by the Landlord Termination
Date and upon Tenant’s vacating such portion of the Premises, the rent and
other charges payable shall be proportionately reduced. Consent by Landlord to one
or more Transfer(s) shall not operate as a waiver of Landlord’s rights to
approve any  subsequent Transfers. In no event shall any Transfer
or Permitted Transfer release or relieve Tenant from any obligation under this
Lease, nor shall the acceptance of Rent from any assignee, subtenant or
occupant constitute a waiver or release of Tenant from any of its obligations
or liabilities under this Lease. Tenant shall pay Landlord a review fee of $l000
for Landlord’s review of any Permitted Transfer or requested Transfer, provided
if Landlord’s actual reasonable costs and expenses (including reasonable
attorney’s fees) exceed $1000, Tenant shall reimburse Landlord for its actual reasonable
costs and expenses in lieu of a fixed review fee not to exceed $2,500.

 

C.                                    Payment
to Landlord. lf the aggregate consideration paid to a Tenant
Party for a Transfer exceeds that payable by Tenant under this Lease (prorated
according to the transferred interest), Tenant shall pay Landlord 50% of such
excess (after deducting therefrom reasonable leasing commissions arid
reasonable costs of tenant improvements paid to unaffiliated third parties in
connection with the Transfer, with proof of same provided to Landlord). Tenant
shall pay Landlord for Landlord’s share of any excess within 30 days after
Tenant’s receipt of such excess consideration. If any uncured event of default
exists under this Lease (or a condition exists which, with the passage of time
or giving of notice, would become an event of default), Landlord may require
that all sublease payments be made directly to Landlord, in which case Tenant
shall receive a

 

13

 

credit
against Rent in the amount of any payments received, but not to exceed the
amount payable by Tenant under this Lease.

 

D.                                    Change
in Control of Tenant. Except for a Permitted Transfer, if Tenant is
a  corporation,
limited liability company, partnership, or similar entity, and if the entity
which owns or controls a majority of the voting shares/rights in Tenant at any time
sells or disposes of such majority of voting shares/rights, or changes its
identity for any reason (including a merger, consolidation or reorganization),
such change of ownership or control shall constitute a Transfer. The foregoing
shall not apply so long as, both before and after the Transfer. Tenant is an
entity whose outstanding stock is listed on a recognized U.S. securities exchange,
or if at least 80% of its voting stock is owned by another entity, the Voting
stock of which is so listed; provided, however, that Tenant shall give Landlord
written notice at least 30 days prior to the effective date of such change in
ownership or control.

 

E.                                      No
Consent Required. Tenant may assign its entire interest under this
Lease to its Affiliate (defined below) or to a successor to Tenant
by purchase, merger, consolidation or reorganization, or sublease the Premises
or any portion thereof to its Affiliate, without the consent of Landlord, provided
that all of the following conditions are satisfied in Landlord’s reasonable
discretion (a “Permitted
Transfer”);  (1) no uncured event of default
exists under this Lease; (2) Tenant’s successor shall own all or substantially
all of the assets of Tenant; (3) in the case of an Assignment, such Affiliate
or successor shall have a net worth which is at least equal to the greater of
Tenant’s net worth at the date of this Lease or Tenant’s net worth as of the
day prior to the proposed purchase, merger, consolidation or reorganization; (4)
no portion of the Building or Premises would likely become subject to
additional or different Laws as a consequence of the proposed Transfer; (5) such
Affiliate’s or successor’s use of the Premises shall not conflict with the
Permitted Use or any exclusive usage rights granted to any other tenant in the
Building; (6) neither the Transfer nor any consideration payable to Landlord in
connection therewith adversely affects the real estate investment trust
qualification tests applicable to Landlord or its Affiliates; (7) such
Affiliate or successor is not and has not been involved in litigation with
Landlord or any of Landlord’s Affiliates; and (8) Tenant shall give Landlord
written notice at least 30 days prior to the effective date of the proposed
Transfer, along with all applicable documentation and other information
necessary for Landlord to determine that the requirements of this Section 11.E
have been satisfied, including if applicable, the qualification of such
proposed transferee as an Affiliate of Tenant. The term “Affiliate” means
any person or entity controlling, controlled by or under common control with
Tenant or Landlord, as applicable. If requested by Landlord, in the case of an
Assignment, the Affiliate or successor shall sign a commercially reasonable
form of assumption agreement.

 

12.                                 Liens. Tenant shall
not permit mechanic’s or other liens to be placed upon the Property, Premises
or Tenant’s leasehold interest in connection with any work or service done or
alleged to have been done by or for the benefit of Tenant. If a lien is so
placed, Tenant shall, within 30 days of notice from Landlord of the filing of
the lien, fully discharge the lien by settling the claim which resulted in the
lien or by bonding or insuring over the lien in the manner prescribed by the applicable
lien Law. If Tenant fails to discharge the liens, then, in addition to any
other right or remedy of Landlord, Landlord may bond or insure over the lien or
otherwise discharge the lien. Tenant shall, within 30 days after receipt of an
invoice from Landlord, reimburse Landlord for any amount paid by Landlord,
including reasonable attorneys fees, to bond or insure over the lien or
discharge the lien.

 

13.                                 Indemnity. Subject to Article
15 Tenant shall hold Landlord, its trustees, Affiliates, subsidiaries, members,
principals, beneficiaries, partners, officers, directors, shareholders, employees,
Mortgagee(s) (defined in Article 25) and agents (including the manager of the
Property) (collectively, “Landlord Parties”)  harmless from,
and indemnify and defend such parties against, all liabilities, obligations,
damages, penalties, claims, actions, costs, charges and expenses, including reasonable
attorneys, fees and other professional fees that may be imposed upon, incurred
by or asserted against any of such indemnified parties (each a “Claim” and
collectively “Claims”)  that
arise out of Tenant’s possession, use, maintenance or repair of the Premises or
any act or omission of Tenant or any of Tenant’s employees, agents and invitees
in the Premises or on the Property. Provided Landlord Parties are properly
named as additional insureds in the policies required to be carried under this
Lease, and except as otherwise expressly provided in this Lease, the indemnity
set forth in the preceding sentence shall be limited to the greater of (A) $4,000,000,
and (B) the aggregate amount of general/umbrella liability insurance actually
carried by Tenant. Subject to Section 9.B and Articles, 15 and 20, Landlord
shall hold Tenant, its trustees, members, principals, beneficiaries, partners,
officers, directors, shareholders, employees and agents (collectively, “Tenant

 

14

 

Parties”)  harmless from, and
indemnify and defend such parties against, all Claims that arise out of or in
connection with any damage or injury occurring in or on the Property (excluding
the Premises), to the same extent the Tenant Parties would have been covered
had they been named as additional insureds on the commercial general liability
insurance policy required to be carried by Landlord under this Lease. The
indemnity set forth in the preceding sentence shall be limited to the amount of
$4,000,000.

 

14.                                 Insurance.

 

A.                                    Tenant’s
Insurance. Tenant shall maintain the following insurance (“Tenant’s Insurance”),  at its sole cost and expense: (1) commercial general
liability insurance applicable to the Premises and its appurtenances providing,
on an occurrence basis, a per occurrence limit of no less than $2,000,000 and,
in the aggregate, no less than $4,000,000; (2) causes of loss-special form
(formerly “all risk”) property insurance, covering all above building standard
leasehold improvements and Tenants trade fixtures, equipment, furniture and
other personal property within the Premises (“Tenant’s Property”)  in the amount of the full
replacement cost thereof; (3) business income (formerly “business interruption”)
insurance written on en actual loss sustained form or with sufficient limits to
address reasonably anticipated business interruption losses; (4) business
automobile liability insurance to cover all owned, hired and non-owned automobiles
owned or operated by Tenant providing a minimum combined single limit of
$1,000,000; (5) workers compensation insurance as required by the state in
which the Premises is located and in amounts as may be required by applicable
statute (provided, however, if no workers’ compensation insurance is
statutorily required, Tenant shall carry workers’ compensation insurance in a
minimum amount of $500,000); and (6) employer’s liability insurance in an
amount of at least $500,000 per occurrence. Any company underwriting any of
Tenant’s Insurance shall have, according to A.M. Best Insurance Guide, a Best’s
rating of not less than A- and a Financial Size Category of not less than VIII,
All commercial general liability, business automobile liability and umbrella
liability insurance policies shall name Landlord (or any successor), Landlord’s
property manager, Landlord’s Mortgagee (if any), and their respective members,
principals, beneficlarics, partners, officers, directors, employees, and
agents, and other designees of Landlord as the interest of such designees shall
appear, as “additional insureds” and shall be primary with Landlord’s policy
being secondary and noncontributory. If any aggregate limit is reduced because
of losses paid to below 75% of the limit required by this Lease, Tenant will  notify Landlord in writing within 10 days
of the date of reduction. All policies of Tenant’s Insurance shall contain
endorsements that the insurer(s) shall give Landlord and its designees at least
30 days’ advance written notice of any change, cancellation, termination or
lapse of insurance. Tenant shall provide Landlord with a certificate of
insurance and all required endorsements evidencing Tenant’s Insurance prior to
the earlier to occur of the Commencement Date or the date Tenant is provided
access to the Premises for any reason, and upon renewals at least 10 days prior
to the expiration of the Insurance coverage. All of Tenant’s Insurance
policies, endorsements and certificates will be on forms and with deductibles
and self-insured retention, if any, reasonably acceptable to Landlord. The limits
of Tenant’s insurance shall not limit Tenant’s liability under this Lease.

 

B.                                    Landlord’s
Insurance. Landlord shall maintain: (1) commercial general
liability insurance applicable to the Property which provides, on an occurrence
basis, a minimum combined single limit of no less than $5,000,000 (coverage in
excess of $1,000,000 may be provided by way of an umbrella/excess liability
policy); and (2) causes of loss-special form (formerly “all risk”) property
insurance on the Building in the amount of the replacement cost thereof, as
reasonably estimated by Landlord. The foregoing insurance and any other
insurance carried by Landlord may be effected by a policy or policies of
blanket insurance and shall be for the sole benefit of Landlord and under
Landlord’s sole control. Consequently, Tenant shall have no right or claim to
any proceeds thereof or any other rights thereunder.

 

15.                                 Mutual
Waiver of Subrogation. Notwithstanding anything in this Lease to
the contrary, Tenant waives, and shall cause its insurance carrier(s) and any
other party claiming through or under such carrier(s), by way of subrogation or
otherwise, to waive any and all rights o f recovery, Claim, action or causes of
action against all Landlord Parties for any loss or damage to Tenant’s business,
any loss of use of the Premises, and any loss, theft or damage to Tenant’s
Property (including Tenant’s automobiles or the contents thereof), INCLUDING
ALL RIGHTS (BY WAY OF SUBROGATION OR
OTHERWISE) OF RECOVERY, CLAIMS, ACTIONS OR CAUSES OF ACTION ARISING OUT OF THE NEGLIGENCE OF ANY
LANDLORD PARTY, which loss or damage is (or would have been, had the insurance
required by this Lease been maintained) covered by insurance. In addition,
Landlord shall cause its insurance carrier(s) and any other party claiming
through or under such carriers), by way

 

15

 

of
subrogation or, otherwise, to waive any and all rights of recovery, Claim,
action or causes of action against all Tenant Parties for any loss of or damage
to or loss of use of the Building, any additions or improvements to the
Building, or any contents thereof, INCLUDING ALL RIGHTS (BY WAY OF SUBROGATION OR OTHERWISE) OF RECOVERY, CLAIMS, ACTIONS OR CAUSES
OF ACTION ARISING OUT OF THE NEGLIGENCE OF ANY TENANT PARTY, Which loss or damage
is (or would have been, had the insurance required by this Lease been
maintained) covered by insurance.

 

16.                                 Casualty
Damage.

 

A.                                    Repair or
Termination by Landlord. If all or any part of the Premises
are damaged by fire or other casualty, Tenant shall immediately notify Landlord
in writing. Landlord shall have the right to terminate this Lease if: (1) the
Building shall be damaged so that, in Landlord’s judgment, substantial
alteration or reconstruction of the Building shall be required (whether or not the
Premises have been damaged); (2) Landlord is not permitted by Law to
rebuild the Building in substantially the same form as existed before the fire
or casualty; (3) the Premises have been materially damaged and there is
less than 2 years of the Term remaining on the date of the casualty; (4) any
Mortgagee requires that the insurance proceeds be applied to the payment of the
mortgage debt; or (5) an uninsured loss of the Building occurs
notwithstanding Landlord’s compliance with Section 14.B above Landlord may
exercise its right to terminate this Lease by notifying Tenant in writing
within 90 days after the date of the casualty. If Landlord does not terminate
this Lease under this Section 16.A, Landlord shall commence and proceed
with reasonable diligence to repair and restore the Building and/or the
Premises to substantially the same condition as existed immediately prior to
the date of damage; provided, however, that Landlord shall only be required to
incur costs up to the greater of (i) the amount of the Construction
Allowance, as defined in the Work Letter, or (ii) the amount required to
reconstruct building standard leasehold improvements in the Premises, and Tenant
shall be required to pay the cost for restoring any other leasehold improvements.
However, in no event shall Landlord be required to spend more than the
insurance proceeds received by Landlord.

 

B.                                    Timing
for Repair; Termination by Either party. If all or any portion of
the Premises is damaged as a result of fire or other casualty, Landlord shall,
with reasonable promptness, cause an architect or general contractor selected
by Landlord to provide Landlord and Tenant with a written estimate of the
amount of time required to substantially complete the repair and restoration of
the Premises, using standard working methods (“Completion Estimate”). If the Completion Estimate
indicates that the Premises cannot be made tenantable within 270 days from the
date of damage, then regardless of anything in Section 16.A above to the
contrary, either party shall have the right to terminate this Lease by giving
written notice to the other of such election within 10 days after receipt of
the Completion Estimate. Tenant, however, shall not have the right to terminate
this Lease if the fire or casualty was caused by the negligence or intentional
misconduct of any of the Tenant Parties. If neither party terminates this Lease
under this Section 16.B, then Landlord shall repair and restore the
Premises in accordance with, and subject to the limitations of, Section 16.A.

 

C.                                    Abatement. In the event a
material portion of the Premises is damaged as a result of a fire or other
casualty, the Base Rent shall abate for the portion of the Premises that is
damaged and not usable by Tenant until substantial completion of the repairs
and restoration required lo be made by Landlord pursuant to Section 16.A.
Tenant, however, shall not be entitled to such abatement if the fire or other
casualty was caused by the negligence or intentional misconduct of any of the Tenant
Parties. Landlord shall not be liable for any loss or damage to Tenant’s Property
or to the business of Tenant resulting in any way from the fire or other casualty
or from the repair and restoration of the damage. Landlord and Tenant hereby
waive the provisions of any Law relating to the matters addressed in this
Article, and agree that their respective rights for damage to or destruction of
the Premises shall be those specifically provided in this Lease.

 

17.                                 Condemnation. Either party
may terminate this Lease if the whole or any material part of the Premises are
taken or condemned for any public or quasi-public use under Law, by eminent
domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a
Taking of any portion of the Building or Property which would leave the
remainder of the Building unsuitable for use as an office building in a manner
comparable to the Building’s use prior to the Taking. In order to exercise its
right to terminate this Lease under this Article 17, Landlord or Tenant,
as the case maybe, must provide written notice of termination to the other
within 45 days after the terminating party first receives notice of the Taking.
Any such termination shall be effective as of the date the physical taking of the
Premises or the portion of the

 

16

 

Building
or Property occurs. If this Lease is not terminated, the Rentable Square
Footage of the Building, the Rentable Square Footage of the Premises and Tenant’s
Pro Rata Share shall, if applicable, be appropriately adjusted by Landlord. In addition,
Base Rent for any portion of the Premises taken or condemned shall be abated
during the unexpired Term effective when the physical taking of the portion of
the Premises occurs. All compensation awarded for a Taking, or sale proceeds,
shall be the property of Landlord, any right to receive compensation or
proceeds being expressly waived by Tenant. However, Tenant may file a separate
claim at its sole cost and expense for Tenant’s Property (excluding above
building standard leasehold improvements) and Tenant’s reasonable relocation
expenses, provided the filing of such claim does not diminish the award which
would otherwise be receivable by Landlord.

 

18.     Events of
Default. Tenant shall be considered to be in default under this
Lease upon the occurrence of any of the following events of default:

 

A.        Tenant’s
failure to pay when due all or any portion of the Rent (“Monetary
Default”).

 

B.        Tenant’s failure to perform any of the obligations of
Tenant in the manner set forth in Articles 14, 24 or 25 (a “Time Sensitive
Default”).

 

C.        Tenant’s failure (other than a Monetary Default or a Time
Sensitive Default) to comply with any term, provision or covenant of this
Lease, if the failure is not cured within 10 days after written notice to
Tenant. However, if Tenant’s failure to comply cannot reasonably be cured within
10 days, Tenant shall be allowed additional time (not to exceed an additional
10 days) as is reasonably necessary to cure the failure so long as: (1) Tenant
commences to cure the failure within the 10 day period following Landlord’s
initial written notice, and (2) Tenant diligently pursues a course of
action that will cure the failure and bring Tenant back into compliance with
this Lease, However, if Tenant’s failure to comply creates a hazardous
condition, the failure must be cured immediately upon notice to Tenant.

 

D.        Tenant or any Guarantor becomes insolvent, files a petition
for protection under the U.S. Bankruptcy Code (or similar Law) or a petition is
filed against Tenant or any Guarantor under such Laws and is not dismissed
within 45 days after the date of such filing, makes a transfer in defraud of
creditors or makes an assignment for the benefit of creditors, or admits in
writing its inability to pay its debts when due.

 

E.       The
leasehold estate is taken by process or operation of Law.

 

F.       In the case of any ground floor or retail tenant, or any other
tenant whose space is visible from the Common Areas or elevator lobby areas of
the Building, Tenant does not take possession of, or abandons or vacates all or
a substantial portion of the Premises.

 

G.       Tenant is in default beyond any notice and cure period under
any other lease or agreement with Landlord, including any lease or agreement
for parking.

 

19.     Remedies.

 

A.       Landlord’s Remedies.
Upon any default, Landlord shall have the right without notice or demand
(except as provided in Article 18) to pursue any of its rights and remedies at
Law or in equity, including any one or more of the following remedies:

 

(1)      Terminate this Lease;

 

(2)      Re-enter the
Premises, change locks, alter security devices and lock out Tenant or terminate
Tenant’s right of possession of the Premises without terminating this Lease;

 

(3)      Remove and store, at Tenant’s expense, all the property in the
Premises using such lawful force as may be necessary;

 

(4)     Cure such event of default for Tenant at Tenant’s expense (plus
an administrative fee equal to 15% of the amounts expended by Landlord to cure
such default);

 

(5)      Withhold or suspend payment of sums
Landlord would otherwise be obligated to pay to Tenant under this Lease or any other agreement;

 

17

 

(6)    Require
all future payments to be made by cashier’s check, money order or wire transfer
after the first time any check is returned for insufficient funds, or the
second time any sum due hereunder is more than five (5) days late after
written notice; and/or

 

(7)    Recover
such other amounts in addition to or in lieu of the foregoing as may be
permitted from time to time by applicable Law, including any other amount
necessary to compensate Landlord for all the detriment proximately caused by
Tenant’s failure to perform its obligations under this Lease or which in the
ordinary course of events would be likely to result therefrom.

 

B.        Measure of Damages.

 

(1)      Calculation. If
Landlord either terminates this Lease or terminates Tenant’s right to
possession of the Premises, Tenant shall immediately surrender and vacate the
Premises and pay. Landlord on demand: (a) all Rent accrued through the end
of the month in which the termination becomes effective; (b) interest on
all unpaid Rent from the date due at a rate equal to the lesser of 18% per
annum; (c) all expenses reasonably incurred by Landlord in enforcing its
rights and remedies under this Lease, including all reasonable legal expenses; (d) Costs
of Reletting (defined below); and (e) all Landlord’s Rental Damages
(defined below). In the event that Landlord relets the Premises for an amount
greater than the Rent due during the Term, Tenant shall not receive a credit
for any such excess.

 

(2)      Definitions.  “Costs of Reletting” shall include
commercially reasonable costs, losses and expenses incurred by Landlord in
reletting all or any portion of the Premises including, without limitation, the
cost of removing and storing Tenant’s furniture, trade fixtures, equipment,
inventory or other property, repairing and/or demolishing the Premises,
removing and/or replacing Tenant’s signage and other fixtures, making the
Premises ready for a new tenant, including the reasonable costs of advertising,
commissions, architectural fees, legal fees and leasehold improvements, and any
allowances and/or concessions provided by Landlord. “Landlord’s Rental Damages”  shall
mean the total Rent which Landlord would have received under this Lease (had
Tenant made all such Lease payments as required) for the remainder of the Term
minus the amount of such rental loss that Tenant proves would be reasonably
avoided pursuant to Section 19.D. below, or, if the Premises are relet,
the actual rental value (not to exceed the Rent due during the Term), both
discounted to present value at the Prime Rate (defined below) in effect upon
the date of determination. For purposes hereof, the “Prime Rate”  shall be the per annum interest
rate publicly announced by a federally insured bank selected by Landlord in the
state in which the Building is located as such bank’s prime or base rate.

 

C.       Tenant Not Relieved from Liabilities. Unless
expressly provided in this Lease, the repossession or re-entering of all or any
part of the Premises shall not relieve Tenant of its liabilities and
obligations under this Lease. In addition, Tenant shall not be relieved of its liabilities
under this Lease, nor be entitled to any damages hereunder, based upon minor or
immaterial errors in the exercise of Landlord’s remedies. No right or remedy of
Landlord shall be exclusive of any other right of remedy. Each right and remedy
shall be cumulative and in addition to any other right and remedy now or
subsequently available to Landlord at Law or in equity. If Tenant fails to pay
any amount when due hereunder (after the expiration of any applicable cure
period), Landlord shall be entitled to receive interest on any unpaid item of
Rent from the date initially due (without regard to any applicable grace
period) at a rate equal to 18% per annum. In addition, if Tenant fails to pay
any item or installment of Rent when due (after the expiration of any
applicable cure period), Tenant shall pay Landlord an administrative fee equal
to 5% of the past due Rent (except that the first such late payment in any
consecutive 12 month period shall be waived and in the event of a second late
payment in the same consecutive 12 month period, the administrative fee shall
be equal to 2.5% of the past due amount). However, in no event shall the
charges permitted under this Section 19.C or elsewhere in this Lease, to the extent they are
considered interest under applicable Law, exceed the maximum lawful rate of
interest. If any payment by Tenant of an amount deemed to be interest results
in Tenant having paid any interest in excess of that permitted by Law, then it
is the express intent of Landlord and Tenant that all such excess amounts
theretofore collected by Landlord be credited against the other amounts owing
by Tenant under this Lease. Receipt by Landlord of Tenant’s keys to the
Premises shall not constitute an acceptance or surrender of the Premises. NOTWITHSTANDING ANY OTHER PROVISION OF THIS LEASE TO THE CONTRARY,
TENANT SHALL HOLD LANDLORD PARTIES HARMLESS FROM AND INDEMNIFY AND DEFEND SUCH PARTIES
AGAINST, ALL CLAIMS THAT ARISE OUT OF OR IN CONNECTION WITH A BREACH OF THIS
LEASE,

 

18

 

SPECIFICALLY INCLUDING ANY VIOLATION OF APPLICABLE LAWS OR
CONTAMINATION (DEFINED IN ARTICLE 30) CAUSED BY A TENANT PARTY.

 

D.       Mitigation of Damages. Upon termination of Tenant’s right
to possess the Premises, Landlord shall, only to the extent required by Law,
use objectively reasonable efforts to mitigate damages by reletting the
Premises. Landlord shall not be deemed to have failed to do so if Landlord refuses
to lease the premises to a prospective new tenant with respect to whom Landlord
would be entitled to withhold its consent pursuant to Section 11.A,
or who (1) is an Affiliate, parent or subsidiary of Tenant; (2) is
not acceptable to any Mortgagee of Landlord or (3) is unwilling to accept lease
terms then proposed by Landlord, including: (a) leasing for a shorter or
longer term than remains under this Lease; (b) re-configuring or combining
the Premises with other space, (c) taking all or only a part of the
Premises; and/or (d) changing the use of the Premises. Notwithstanding Landlord’s
duty to mitigate its damages as provided herein, Landlord shall not be obligated
(i) to give any priority to reletting Tenant’s space in connection with
its leasing of space in the Building or any complex of which the Building is a
part, or (ii) to accept below market rental rates for the Premises or any
rate that would negatively impact the market rates for the Building. To the
extent that Landlord is required by applicable Law to mitigate damages. Tenant
must plead and prove by clear and convincing evidence that Landlord failed to
so mitigate in accordance with the provisions of this Section 19.D,
and that such failure resulted in an avoidable and quantifiable detriment to
Tenant.

 

20.     Limitation
of Liability. Notwithstanding anything to the contrary contained
in this Lease, the liability of Landlord (and of any successor Landlord) to
Tenant (or any person or entity claiming by, through or under Tenant) shall be
limited to the interest of Landlord in the Property. Tenant shall look solely
to Landlord’s interest in the Property for the recovery of any judgment or
award against Landlord. No Landlord Party shall be personally liable for any
judgment or deficiency. Before filing suit for an alleged default by Landlord,
Tenant shall give Landlord and the Mortgagee(s) (defined in Article 25) whom Tenant has been notified hold
Mortgages (defined in Article 25)
on the Property, Building or Premises, notice and reasonable time to cure the
alleged default. Tenant hereby waives all claims against all Landlord Parties
for consequential, special or punitive damages allegedly Suffered by any Tenant
Parties, including lost profits and business interruption.

 

21.     No Waiver.
Neither party’s failure to declare a default immediately upon its occurrence or
delay in taking action for a default shall constitute a waiver of the default,
nor shall it constitute an estoppel. Neither party’s failure to enforce its
rights for a default shall constitute a waiver of that party’s rights regarding
any subsequent default.

 

22.     Tenant’s
Right to Possession. Provided Tenant pays the Rent and fully
performs all of its other covenants and agreements under this Lease, Tenant
shall have the right to occupy this Premises without hindrance from Landlord or
any person lawfully claiming through Landlord, subject to the terms of this
Lease, all Mortgages, insurance requirements and applicable Law. This covenant
and all other covenants of Landlord shall be binding upon Landlord and its
successors only during its or their respective periods of ownership of the
Building, and shall not be a personal covenant of any Landlord Parties.

 

23.     Intentionally Omitted.

 

24.     Holding Over.

 

Except for any permitted occupancy by Tenant under Article 29,
if Tenant or any party claiming by, through or under Tenant fails to surrender
the Premises at the expiration or earlier termination of this Lease, the
continued occupancy of the Premises shall be that of a tenancy at sufferance. Tenant
shall pay an amount (on a per month basis without reduction for partial months
during the holdover) equal to 200% of the Base Rent due for the period
immediately preceding the holdover; provided, however, so long as no other uncured
event of default exists under the Lease, for the first 30 days of any such
holdover Tenant shall pay only 150% of such Base Rent amount. Tenant shall
otherwise continue to be subject to all of Tenant’s obligations under this
Lease. No holdover by Tenant or payment by Tenant after the expiration or early
termination of this Lease shall be construed to extend the Term or prevent
Landlord from immediate recovery of possession of the Premises by summary
proceedings or otherwise. In addition to the payment of the amounts provided
above, if Landlord is unable to deliver possession of the Premises to a new
tenant, or to perform improvements for a new tenant, as a result of Tenant’s
holdover and Tenant fails to vacate the Premises within 15 days after Landlord

 

19

 

notifies
Tenant of Landlord’s inability to deliver possession, or perform improvements,
such failure shall constitute a Time Sensitive Default hereunder; and
notwithstanding any other provision of this Lease to the contrary, TENANT SHALL
BE LIABLE TO LANDLORD FOR, AND SHALL PROTECT LANDLORD FROM AND INDEMNIFY AND
DEFEND LANDLORD AGAINST, ALL LOSSES AND DAMAGES, INCLUDING ANY CLAIMS MADE BY
ANY SUCCEEDING TENANT RESULTING FROM SUCH FAILURE TO VACATE, AND ANY
CONSEQUENTIAL DAMAGES THAT LANDLORD SUFFERS FROM THE HOLDOVER.

 

25.          Subordination
to Mortgages; Estoppel Certificate. Tenant accepts this Lease
subject and subordinate to any mortgage(s), deed(s) of trust, ground lease(s) or
other lien(s) now or subsequently affecting the Premises, the Building or the
Property, and to renewals, modifications, refinancings and extensions thereof
(collectively, a “Mortgage”). The party having the benefit
of a Mortgage shall be referred to as a “Mortgagee.”  This clause shall be
self-operative, but upon request from a Mortgagee or Tenant, Tenant and
Mortgagee shall execute a commercially reasonable subordination and
nondisturbance agreement in favor of the Mortgagee. In lieu of having the Mortgage
be superior to this Lease, a Mortgagee shall have the right at any time to
subordinate its Mortgage to this Lease. If requested by a successor-in-interest
to all or a part of Landlord’s interest in this Lease, Tenant. shall, without
charge, attorn to the successor-in-interest.  Tenant shall, within 5  days after receipt of a written request
from Landlord, execute and deliver an estoppel certificate to those parties as
are reasonably requested by Landlord (including a  Mortgagee or prospective purchaser). The
estoppel certificate shall include a statement certifying that this Lease is
unmodified (except as identified in the estoppel certificate) and in full force
and effect, describing the dates to which Rent and other charges have been
paid, representing that; to the best of Tenant’s knowledge, there is no default
(or stating with specificity the nature of the alleged default) and certifying
other matters with respect to this Lease that may reasonably be requested.
Tenant’s failure to provide any estoppel certificate within the 5 day period
specified above, and the continuation of such failure for a period of 5 days
after Landlord delivers a second written notice requesting same, shall
constitute a Time Sensitive Default under this Lease. Landlord shall use
reasonable efforts, at Tenant’s cost, to obtain Landlord’s Mortgagee’s
then-current form of non-disturbance agreement for the benefit of Tenant.

 

26.          Attorneys’
Fees. If either party institutes a suit against the other for violation
of or to enforce any covenant or condition of this Lease, or if either party
intervenes in any lawsuit in which  the other is a party to enforce or protect its
interest or rights, the prevailing party shall be entitled to all of its costs
and expenses relating to such lawsuit, including reasonable attorneys’ fees.

 

27.          Notice.
If a demand, request, approval, consent or notice (collectively, a “notice”)  shall
or may be given to either party by the other, the notice shall be in writing
and delivered by hand or sent by registered or certified mail with return
receipt requested, or sent by overnight or same day courier service, or sent by
facsimile, at the party’s respective Notice Address(es) set forth in Article 1,
except that if Tenant has vacated the Premises (or if the Notice Address for
Tenant is other than the Premises, and Tenant has vacated such address) without
providing Landlord a new Notice Address, Landlord may serve notice in any
manner described in this Article or in any other manner permitted by Law. Each
notice shall be deemed to have been received or given on the earlier to occur
of actual delivery (which, in the case of delivery by facsimile, shall be
deemed to occur at the time of delivery indicated on the electronic
confirmation of the facsimile) or the date on which delivery is first refused,
or, if Tenant has vacated the Premises or the other Notice Address of Tenant
without providing a new Notice Address, three (3) days after notice is
deposited in the U.S. mail or with a courier service in the manner described
above. Either party may, at any time, change its Notice Address by giving the
other party written notice of the new address in the manner described in this
Article.

 

28.          Reserved
Rights. This Lease does not grant any rights to light or air
over or about the Building. Landlord excepts and reserves exclusively to itself
the use of: (A) roofs, (B) telephone, electrical and janitorial closets, (C) equipment
rooms, Building risers or similar areas that are used by Landlord for the provision
of Building services, (D) rights to the land and improvements below the
floor of the Premises, (E) the improvements and air rights above the
Premises, (F) the improvements and air rights outside the demising walls
of the Premises, (G) the areas within the Premises used for the installation of
utility lines and other installations serving occupants of the Building, and (H) any
other areas designated from time to time by Landlord as service areas of the
Building. Tenant shall not have the right to install or operate any equipment
producing radio frequencies, electrical or electromagnetic output or other
signals, noise or emissions in or from the Building without the prior written
consent of Landlord. To the extent permitted by applicable Law, Landlord reserves
the right to restrict and control the use of such equipment. Landlord has the
right

 

20

 

to
change the Building’s name or address. Landlord also has the right to make such
other changes to the Property and Building as Landlord deems appropriate,
provided the changes do not Materially affect Tenant’s ability to use the
Premises for the Permitted Use. Landlord shall also have the right (but not the
obligation) to temporarily close the Building if Landlord reasonably determines
that there is an imminent danger of significant damage to the Building or of
personal injury to Landlord’s employees or the occupants of the Building. The
circumstances under which Landlord may temporarily close the Building shall include,
without limitation, electrical interruptions which create in Landlord’s
reasonable judgment, hazards to persons or property, hurricanes and civil
disturbances. A closure of the Building under such circumstances shall not
constitute a constructive eviction nor entitle Tenant to an abatement or
reduction of Rent.

 

29.          Surrender of Premises.
All improvements to the Premises (collectively, “Leasehold Improvement”)  shall be owned
by Landlord and shall remain upon the Premises without compensation to Tenant.
At the expiration or eariler termination of this Lease or Tenant’s right of
possession, Tenant shall remove Tenant’s Removable Property (defined below)
from the Premises, and quit and surrender the Premises to Landlord, broom
clean, and in good order, condition and repair, ordinary wear and tear
excepted. As used herein, the term “Tenant’s Removable Property”  shall mean: (A) Cable
installed by or for the benefit of Tenant and located in the Premises or other
portions of the Building; (B) any Leasehold Improvements that are
installed by or for the benefit of Tenant and, in Landlord’s reasonable
judgment, are of a nature that would require removal and repair costs that are
materially in excess of the removal and repair costs associated with standard office
improvements (“Special Installations”);  and (C) Tenant’s personal
property. Landlord shall, within 10 Business Days after its receipt of a
written request therefor from Tenant, notify Tenant in writing whether any
Leasehold Improvements to be constructed in the Premises constitute Special
Installations. Notwithstanding the foregoing, Landlord may, in Landlord’s solo
discretion and at no cost to Landlord, require Tenant to leave any of its
Special Installations in the Premises. If Tenant falls to remove any of
Tenant’s Removable Property (other than Special Installations which Landlord has
designated to remain in the Premises) within 2 days after the termination of
this Lease or of Tenant’s right to possession, Landlord, at Tenant’s sole cost
and expense, shall be entitled (but not obligated) to remove and store Tenant’s
Removable Property. Landlord shall not be responsible for the value,
preservation or safekeeping of Tenant’s Removable Property. Tenant shall pay
Landlord, upon demand, the expenses and storage charges incurred for Tenant’s
Removable Property. To the fullest extent permitted by applicable Law, any
unused portion of Tenant’s Security Deposit may be applied to offset Landlord’s
costs set forth in the preceding sentence. In addition, if Tenant fails to remove
Tenant’s Removable Property from the Premises or storage, as the case may be,
within 30 days after written notice, Landlord may deem all or any part of Tenant’s
Removable Property to be abandoned, and title to Tenant’s Removable Property
(except with respect to any Hazardous Material [defined in Article 30])
shall be deemed to be immediately vested .in Landlord. Except for Special
Installations designated by Landlord to remain in the Premises, Tenant’s
Removable Property shall be removed by Tenant before the Expiration Date;
provided that upon Landlord’s prior written consent (which must be requested by
Tenant at least 30 days in advance of the Expiration Date and which shall not be
unreasonably withheld). Tenant may remain in the Premises for up to 5 days
after the Expiration Date for the sole purpose of removing Tenant’s Removable
Property, Tenant’s possession of the Premises for such purpose shall be subject
to all of the terms and conditions of this Lease, including the obligation to
pay Base Rent and Tenant’s Pro Rata Share of Excess Operating Expenses on a per
diem basis at the rate in effect for the last month of the Term. In the event
this Lease is terminated prior to the Expiration Date, Tenant’s Removable
Property (except for Special Installations designated by Landlord to remain in
the Premises) shall be removed by Tenant on or before such earlier date of termination.
Tenant shall repair damage caused by the installation or removal of Tenant’s
Removable Property.

 

30.         Hazardous Materials.

 

A.            Restrictions. No Hazardous
Material (defined below) (except for de
minimis quantities of household cleaning products and office
supplies used in the ordinary course of Tenant’s business at the Premises and
that are used, kept and disposed of in compliance with Laws, none of which
shall be deemed to be a Hazardous Material as defined below) shall be brought
upon, used, kept or disposed of in or about the Premises or the Property by any
Tenant Parties or any of Tenant’s transferees, contractors or licensees without
Landlord’s prior written consent, which consent may be withheld in Landlord’s
sole and absolute discretion. Tenant’s request for such consent shall include a
representation and warranty by Tenant that the Hazardous Material in question (I) is
necessary in

 

21

 

the ordinary course of Tenant’s business, and (2) shall
be used, kept and disposed of in compliance with all Laws.

 

B.            Remediation. Tenant shall, at
its expense, monitor the Premises for the presence of Hazardous Materials or
conditions which may reasonably give rise to Contamination (defined below) and
promptly notify Landlord if it suspects Contamination in the Premises. Any
remediation of Contamination caused by a Tenant Party or its contractors or
invitees which is required by Law or which is deemed necessary by Landlord, in
Landlord’s opinion, shall be performed by Landlord and Tenant shal1 reimburse
Landlord for the cost thereof, plus a 15% administrative fee.

 

C.            Definitions. For purposes of
this Article 30, a “Hazardous Material”  is any substance the presence of
which requires, or may hereafter require, notification, investigation or
remediation under any Laws or which is now or hereafter defined, listed or
regulated by any governmental authority as a “hazardous waste”, “extremely
hazardous waste”, “solid waste”, “toxic substance”, “hazardous substance”,
“hazardous material” or “regulated substance”, or otherwise regulated under any
Laws. “Contamination”  means the existence or any release or disposal of a
Hazardous Material or biological or organic contaminant, including any such
contaminant which could adversely impact air quality, such as mold, fungi or
other bacterial agents, in, on, under, at or from the Premises, the Building or
the Property which may result in any liability, fine, use restriction, cost
recovery lien, remediation requirement, or other government or private party
action or imposition affecting any Landlord Party. For purposes of this Lease,
claims arising from Contamination shall include diminution in value,
restrictions on use, adverse impact on leasing space, and all costs of site
investigation, remediation, removal and restoration work, including response
costs under CERCLA and similar statutes.

 

D.            Reports, Surveys
and Acceptance of Premises. All current surveys or
reports prepared for the Property regarding the presence of Hazardous Materials
(if any) in the Building are available for inspection by Tenant in the office of
the Property manager. With respect to Hazardous Materials, Tenant hereby (1)
accepts full responsibility for reviewing any such surveys and reports and
satisfying itself prior to the execution of this Lease as to the acceptability
of the Premises under Section 3.B above, and (2) acknowledges and agrees
that this provision satisfies all notice requirements under applicable Law. In
the event Tenant performs or causes to be performed any test on or within the
Premises for the purpose of determining the presence of a Hazardous Material,
Tenant shall obtain Landlord’s prior written consent and use a vendor approved
by Landlord for such testing. In addition, Tenant shall provide to Landlord a
copy of such test within 10 days of Tenant’s receipt.

 

31.        Signage. Tenant shall be provided
with space on the Building directory board located in the main lobby for
Tenant’s attorneys’ names, not to exceed thirty (30) total names, (including
the Tenant’s name), at Landlord’s cost and expense. In addition, Landlord shall
provide one (1) strip for Tenant’s name on the Building’s monument sign at
Tenant’s sole cost and expense.

 

32.        Rooftop Communications Equipment.
Without liability for rental or other charges, Tenant shall be permitted, at
its solo cost and expense, to use the roof of the building to install and
operate a microwave dish or other wireless antennae in a location identified by
Tenant and approved by Landlord, provided such use complies with all city and
governmental rules, regulations and codes and such use does not affect the
structural loading of the building. Tenant shall adhere to industry standards
for installation and workmanship, all work to be completed to Landlord’s
reasonable satisfaction. Upon termination of the Lease, Tenants shall, if so
requested by Landlord, remove all of, Tenant’s rooftop equipment and shall
repair, to Landlord’s reasonable satisfaction, any damage caused by the
installation or removal of such equipment. Tenant shall provide specifications
for its equipment and installation for Landlord review and approval. Prior to
the installation of any communications equipment pursuant to this Article 32,
Landlord and  Tenant shall enter into a mutually acceptable
telecommunications license agreement.

 

33.        Miscellaneous.

 

A.            Governing Law;
Jurisdiction and Venue; Severability; Paragraph Headings. This Lease and
the rights and obligations of the parties shall be interpreted, construed and
enforced in accordance with the Laws of the slate in which the Property is
located. All obligations under this Lease are performable in the county or
other jurisdiction where the Property is located, which shall be venue for all
legal actions. If any term or provision of this Lease shall be invalid or
unenforceable, then such term or provision shall be automatically reformed to
the extent necessary to

 

22

 

render
such term or provision enforceable, without the necessity of execution of any
amendment or new document. The remainder of this Lease shall not be affected,
and each remaining and reformed provision of this Lease shall be valid and
enforced to the fullest extent permitted by Law.  The headings and titles to the Articles and
Sections of this Lease are for convenience only and shall have no effect on the
interpretation of any part of this Lease, The words “include”, “including” and
similar words will not be construed restrictively to limit or exclude other
items not listed.

 

B.            Recording. Tenant shall not record this
Lease or any memorandum without Landlord’s prior written consent.

 

C.            Force Majeure. Whenever a period of time is
prescribed for the taking of an action by Landlord or Tenant, the period of
time for the performance of such action shall be extended by the number of days
that the performance is actually delayed due to strikes, acts of God, shortages
of labor or materials, war, terrorist attacks (including bio-chemical attacks),
civil disturbances and other causes beyond the reasonable control of the
performing party (“Force
Majeure”).  However, events of Force Majeure
shall not extend any period of time for the payment of Rent or other sums
payable by either party or any period of time for the written exercise of an
option or right by either party.

 

D.            Transferability; Release of Landlord. Landlord shall
have the right to transfer and assign, in whole or in part, all of its rights
and obligations under this Lease and in the Building and/or property, and upon
such transfer Landlord shall be released from any further obligations hereunder,
and Tenant agrees to look solely to the successor in interest of Landlord for
the performance of such obligations.

 

E.            Brokers. Tenant represents that it
has dealt directly with and only with Cushman & Wakefield, representing
Tenant, and Colliers International, representing Landlord (whose commissions
shall be paid by Landlord pursuant to a separate written agreement) in
connection with this Lease. TENANT AND LANDLORD SHALL
EACH INDEMNIFY THE OTHER AGAINST ALL COSTS, EXPENSES,
ATTORNEYS’ FEES, LIENS AND OTHER LIABILITY FOR COMMISSIONS OR OTHER
COMPENSATION CLAIMED BY ANY BROKER OR AGENT CLAIMING THE SAME BY, THROUGH OR
UNDER THE INDEMNIFYING PARTY, OTHER THAN THE BROKER(S) SPECIFICALLY IDENTIFIED
ABOVE.

 

F.            Authority; Joint and Several Liability. Landlord
covenants, warrants and represents that each individual executing, attesting
and/or delivering this Lease on behalf of Landlord is authorized to do so on
behalf of Landlord, this Lease is binding upon and enforceable against
Landlord, and Landlord is duty organized and legally existing in the state of
its organization and is qualified to do business in the state in which the
Premises are located. Similarly, Tenant covenants, warrants and represents that
each individual executing, attesting and/or delivering this Lease on behalf of Tenant
is authorized to do so on behalf of Tenant, this Lease is binding upon and
enforceable against Tenant; and Tenant is duly organized and legally existing
in the state of its organization and is qualified to do business in the state
in which the premises are located. If there is more than one Tenant, or if Tenant
is comprised of more than one party or entity, the obligations imposed upon Tenant
shall be joint and several obligations of all the parties and entities. Notice,
payments and agreements given or made by, with or to any one person or entity
shall be deemed to have been given or made by, with and to all of them.

 

G.            Time is of the Essence; Relationship; Successors and
Assigns. Time is of the essence with respect to Tenant’s
performance of its obligations and the exercise of any expansion, renewal or
extension rights or other options granted to Tenant. Time is of the essence
with respect to Landlord’s performance of its obligations hereunder and under
all agreements related to this Lease. This Lease shall create only the
relationship of landlord and tenant between the parties, and not a partnership,
joint venture or any other relationship. This Lease and the covenants and
conditions in this Lease shall inure only to the benefit of and be binding only
upon Landlord and Tenant and their permitted successors and assigns.

 

H.            Survival of
Obligations. The expiration of the Term, whether by lapse of time
or otherwise, shall not relieve either party of any obligations which accrued
prior to or which may continue to accrue after the expiration or early
termination of this Lease. Without limiting the scope of the prior sentence, it
is agreed that Tenant’s obligations under Sections 4.A, 4.B, and 4.C, and under
Articles 6,8,12,13,19,24,29 and
30 shall survive the expiration or early termination of this Lease.

 

23

 

I.             Binding Effect.
Landlord has delivered a copy of this Lease to Tenant for Tenant’s
review only, and the delivery of it does not constitute an offer to Tenant or
an option. This Lease shall not be effective against any party hereto until an
original copy of this Lease has been signed by such party and delivered to the
other party.

 

J.             Full Agreement;
Amendments. This Lease contains the parties’ entire agreement
regarding the subject matter hereof. All understandings, discussions, and
agreements previously made between the parties, written or oral, are superseded
by this Lease, and neither party is relying upon any warranty, statement or
representation not contained in this Lease. This Lease may be  modified only by a written
agreement signed by Landlord and Tenant. The exhibits and riders attached
hereto are incorporated herein and made a part of this Lease for all purposes.

 

K.            Tax Waiver. Tenant waives
all rights pursuant to all Laws to contest any taxes or other levies or protest
appraised values or receive notice of reappraisal regarding the Property
(including Landlord’s personalty), irrespective of whether Landlord contests
same.

 

Landlord and Tenant have executed this Lease as of the Effective Date
specified below Landlord’s signature. 

 

	
  Address:

  	
   

  	
  LANDLORD:

  
	
   

  	
   

  	
   

  
	
  3800
  Howard Hughes Parkway,

  	
   

  	
  3930
  HHP LLC,

  
	
  Suite 150,
  Las Vegas, Nevada 89109

  	
   

  	
  a
  Delaware limited liability company

  
	
  Attention:
  Property Management

  	
   

  	
   

  	
   

  	
   

  
	
  Phone:
  (702) 791-4334

  	
   

  	
   

  	
  By:

  	
  CRESCENT
  REAL ESTATE EQUITIES

  
	
  Fax:
  (702) 791-4354

  	
   

  	
   

  	
   

  	
  LIMITED
  PARTNERSHIP,

  
	
   

  	
   

  	
   

  	
   

  	
  a
  Delaware limited partnership

  
	
  With
  a copy to:

  	
   

  	
   

  	
   

  	
  its
  Managing Agent

  
	
  2000
  Post Oak Blvd., Suite 1950

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Houston,
  Texas 77056

  	
   

  	
   

  	
   

  	
  By:

  	
  CRESCENT
  REAL ESTATE

  
	
  Attention:
  Jane B. Page

  	
   

  	
   

  	
   

  	
   

  	
  EQUITIES,
  LTD.,

  
	
  Phone:
  (713) 840-1170

  	
   

  	
   

  	
   

  	
   

  	
  a
  Delaware corporation

  
	
  Fax:
  (713) 840-1180

  	
   

  	
   

  	
   

  	
   

  	
  its
  General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  And
  to:

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/
  Robert H. Boykin, Jr.

  
	
  777
  Main Street, Suite 2100

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  ROBERT
  H. BOYKIN, JR.

  
	
  Fort
  Worth, Texas 76102

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  SENIOR VICE PRESIDENT 

  
	
  Attention:
  Legal Dept.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  LEASING

  
	
  Phone:
  (817) 321-2100

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Fax:
  (817) 321-2000

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Effective
  Date:

  	
  June 1,
  2005

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TENANT:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  HALE
  LANE PEEK DENNISON AND HOWARD

  PROFESSIONAL CORPORATION,

  a Nevada professional corporation  

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Kristin McMillon

  
	
   

  	
   

  	
  Name:

  	
  Kristin McMillon

  
	
   

  	
   

  	
  Title:

  	
  President

  
								

 

24

 

RIDER NO. 1

 

OPTION TO EXTEND

 

A.        Renewal Period.
Tenant may, at its option, extend the Term for two renewal period of five years
each (the “Renewal Period”) by written
notice to Landlord (the “Renewal Notice”)
given no earlier than 13 nor later than 12 months prior to the expiration of
the Term, provided that at the time of such notice and at the commencement of
such Renewal Period, (i) Tenant remains in occupancy of the Premises, and (ii) no
uncured event of default exists under the Lease. The Base Rent payable during
the Renewal Period shall be “the Market Rental Rate”  for the Premises. However, in no
event shall the Base Rent for the Renewal Period be less than the Base Rent
during the last year of the Term.  Except
as provided in this Rider No. 1, all terms and conditions of the Lease
shall continue to apply during the Renewal Period. This Option to Extend shall
terminate upon assignment of this Lease or subletting of more than 20% of the
Premises; provided, however, that approved short-term subleases of space in the
Premises which have a legitimate business purpose related to Tenant’s law firm
business (such as, for example, subleases of space to Tenant’s clients and
subleases of space to attorneys who have recently terminated their employment
with Tenant) (hereinafter; “Short-Term Business
Subleases”) shall not affect Tenant’s renewal option hereunder
and shall not be included in subleased space for purposes of the foregoing 20%
limitation. Unless otherwise agreed by Landlord, “short-term” shall mean 18
months or shorter.

 

B.        Acceptance.
Within 30 days of the Renewal Notice, Landlord shall notify Tenant of the Base
Rent for such Renewal Period (the “Rental Notice”),
and Tenant shall, within the next 15 days following receipt of such Rental
Notice from Landlord, notify Landlord in writing of Tenant’s acceptance or
rejection of Landlord’s determination of the Market Rental Rate. If Tenant
timely notifies Landlord in writing of Tenant’s acceptance of Landlord’s
determination of the Market Rental Rate (Tenant’s “Acceptance
Notice”), or fails to timely notify Landlord in writing of Tenant’s
rejection of Landlord’s determination of the Market Rental Rate, this Lease
shall be extended as provided herein and Landlord and Tenant shall enter into
an amendment to this Lease to reflect the extension of the Term and changes in
Rent in accordance with this Rider. If Tenant timely notifies Landlord in
writing of Tenant’s rejection of Landlord’s determination of the Market Rental
Rate, then the Market Rental Rate shall be determined in accordance with
Paragraph C below, and upon the determination of the Market Rental Rate
pursuant to Paragraph C below, Landlord and Tenant shall enter into an
amendment to this Lease to reflect the extension of the Term and the changes in
Rent in accordance with this Rider. Landlord shall deliver the lease amendment required
by this Rider No.1 (the “Lease Extension Amendment”)
within fifteen (15) days after Tenant’s Acceptance Notice or the final
determination of the Market Rental Rate pursuant to Paragraph C below. Tenant shall, within fifteen
(15) days after receipt of the Lease. Extension Amendment, execute and return
the Lease Extension Amendment confirming the extension of the Lease Term and
the changes in Rent pursuant to this Rider No. 1.

 

C.        If Tenant timely notifies Landlord in writing of Tenant’s
rejection of Landlord’s determination of the Market Rental Rate, Landlord and
Tenant shall attempt to agree upon Market Rental Rate. If Landlord and Tenant
fail to reach agreement within thirty (30) days following Tenant’s rejection of
Landlord’s determination of the Market Rental Rate (the “Outside
Agreement Date”), then Tenant may rescind the exercise of its
renewal option by written notice to Landlord within ten (10) Business Days
after the Outside Agreement Date. If Tenant does not rescind the exercise of
its renewal option, then, within fifteen (15) days after the Outside Agreement
Date, Landlord and Tenant shall each appoint an arbitrator (collectively, the “Arblirators”) and notify the other
party of same. Within five (5) Business Days following such notice of the
Arbitrators, Landlord and Tenant shall submit to the Arbitrators their
respective assessments of the Market Rental Rate for the Renewal Period,
together with the supporting data that was used to calculate such assessments.
Within fifteen (15) Business Days after such submission to the Arbitrators,
each of the Arbitrators shall select the assessment which is closest to such
Arbitrator’s determination of the Market Rental Rate for the Renewal Period,
which assessment shall be binding on Landlord and Tenant. If the Arbitrators
are unable to agree upon an assessment within such time period, then they shall,
within another ten (10) Business Days, select a third Arbitrator (with the
same qualifications as required for Arbitrators under this Rider). The third
Arbitrator, using all of the information provided to the initial Arbitrators,
as well as any additional analysis or data compiled or prepared by the initial Arbitrators,
shall then select the assessment which is closest to such Arbitrator’s
determination of the Market Rental Rate for the Renewal Period, which
assessment shall be binding on Landlord and Tenant. The cost of all of the
Arbitrators shall be paid by the party whose assessment was not

 

25

 

selected.
Each Arbitrator under this Rider shall be a real estate broker or leasing agent
licensed under the laws of the State of Nevada, and shall have been actively
and continuously engaged in leasing transactions involving in the aggregate
more than 500,000 square feet of rentable area of multi-tenant office space in
Clark County, Nevada over the immediately preceding ten (10) year period.
In addition, the third arbitrator shall be an independent broker or leasing
agent not having any prior relationship representing either Landlord or Tenant.
In no event shall any of the Arbitrators have an economic interest in the final
determination of the Market Rental Rate. The decision of the arbitrator(s) shall
be final and non-appealable, shall be binding on both Landlord and Tenant, and
may be enforced in any court of competent jurisdiction in Clark County, Nevada.
All information produced by the parties in arbitration shall remain
confidential and shall not be made part of any public record. Neither party
shall make any public announcement of the outcome of arbitration until both
parties have agreed upon the terms of such press release, or other public
announcement. Tenant may accept the terms set forth in the Rental Notice by
written notice (the “Acceptance Notice”)
to Landlord given within 15 days after receipt of the Rental Notice. If Tenant
timely delivers its Acceptance Notice, Tenant shall, within 15 days after
receipt, execute a lease amendment confirming the Base Rent and other terms
applicable during the Renewal Period.

 

D. Market Rental
Rate. The “Market Rental Rate”
is the rate (or rates) a willing tenant would pay and a willing landlord would
accept for a comparable transaction (e.g., renewal; expansion, relocation,
ete., as applicable, in comparable space and in a building comparable to the
Building) as of the commencement date of the applicable term, neither being
under any compulsion to lease and both having reasonable knowledge of the
relevant facts, considering the highest and most profitable use if offered for
lease in the open market with a reasonable period of time in which to
consummate a transaction. In calculating the Market Rental Rate, all relevant
factors will be taken into account, including the age, location and quality of
the Building, lease term, amenities of the Property, condition of the space and
any concessions and allowances commonly being offered by Landlord for
comparable transactions in the Property. The parties agree that the best
evidence of the Market Rental Rate will be the rate then charged for comparable
transactions in the Hughes Center office park. With the Rental Notice, Landlord
shall provide Tenant with all information used by Landlord to establish the
Market Rental Rate.

 

26

 

RIDER NO.
2

 

OPTION
TO EXPAND

 

A.            Expansion
Space. Tenant
shall have the option to lease the space currently identified as Suite 360
which contains approximately 9,252 Rentable Square Feet on the 3rd floor of the
Building, as shown on Exhibit A
to the Lease, (the “Expansion Space”)
for a term commencing on the first day of the 61st month of Tenant’s initial Lease Term (the “Expansion Space Commencement Date”)
and continuing through the expiration or earlier termination of the Term (as it
may be extended or renewed); provided that (i) Tenant gives Landlord
written notice of Tenant’s desire to expand (the “Expansion
Notice”) no earlier than 13 nor later than 12 months prior to
the Expansion Space Commencement Date; and (ii) no uncured event of default
exists under the Lease at the time of such Expansion Notice or  the
Expansion Space Commencement Date. The Base Rent payable for the Expansion
Space shall be the Market Rental Rate for the Premises, as defined in Paragraph
D of Rider No. 1 to the Lease. This Option to Expand shall terminate upon
relocation of the Premises by agreement of Landlord and Tenant, assignment of
this Lease or subletting of more than 20% of the Premises (not including
Short-Term Business Subleases). The Expansion Space shall be reduced to the
extent Tenant leases any portion thereof, whether or not pursuant to a formal
option provision in the Lease.

 

B.            Acceptance. Within 30 days of receipt of the
Expansion Notice, Landlord shall notify Tenant of the Base Rent (which shall be
at the Market Rental Rate) and Expansion Space TI Allowance, as defined below,
for the Expansion Space (the “Rental Notice”).
With the exception of the Base Rent Amount and the Expansion Space TI
Allowance, all other terms of this Lease shall apply to the Expansion Space.
Tenant shall, within the next fifteen (15) Business Days following receipt of such
Rental Notice from Landlord, notify Landlord in writing of Tenant’s acceptance
or rejection of Landlord’s determination of the Market Rental Rate. If Tenant
timely notifies Landlord in writing of Tenant’s acceptance of Landlord’s
determination of the Market Rental Rate (Tenant’s “Acceptance
Notice”), or fails to timely notify Landlord of Tenant’s
rejection of Landlord’s determination of the Market Rental Rate, Landlord and
Tenant shall enter into a written lease amendment conforming to this Rider
No. 2. If Tenant timely notifies Landlord in writing of Tenant’s rejection
of Landlord’s determination of the Market Rental Rate, then the Market Rental
Rate shall be determined in accordance with Paragraph C of Rider No. 1
above (and Tenant shall have the option to rescind the exercise of its option
to expand hereunder if Landlord and Tenant do not agree upon the Market Rental
Rate prior to the Outside Agreement Date as set forth in such Paragraph C).
Within 15 days after Tenant’s Acceptance Notice or the final determination of
the Market Rental Rate pursuant to Paragraph C of Rider No. 1, Landlord
shall deliver to Tenant a written lease amendment conforming to this Rider No. 2
(“Expansion Space Lease Amendment”).
Tenant shall, within 15 days after receipt of the Expansion Space Lease
Amendment, execute and return the Expansion Space Lease Amendment adding the
Expansion Space as part of the Premises for all purposes under the Lease (including
any extensions of renewals) effective as of the Expansion Space Commencement
Date and confirming the Base Rent and Expansion Space TI Allowance. Tenant’s
tenant improvement allowance for the Expansion Space (“Expansion
Space TI Allowance”) shall be comparable to the value of other
tenant improvement allowances then being provided by Landlord in comparable
transactions. The Expansion Space Lease Amendment shall contain a construction
agreement using Landlord’s then-current form (“Expansion
Space Construction Agreement”) setting forth the construction
schedule mutually agreed upon by Landlord and Tenant and other terms and
obligations of the parties regarding the construction of the tenant
improvements in the Expansion Space.

 

C.            Tender
of Possesion.
Landlord may, at its option, tender possession of the Expansion Space on any
date within 6 months prior to or after the specified Expansion Space
Commencement Date; in which event such Expansion Space Commencement Date shall
be amended to be the date such possession is actually tendered. Landlord shall
not be liable for any delay or failure to tender possession of the Expansion
Space by the anticipated Expansion Space Commencement Date for any reason
beyond Landlord’s control, including by reason beyond Landlord’s control of any
holdover tenant or occupant, nor shall such failure invalidate the Lease or
extend the Term.

 

D.            Condition
of Premises.
Subject to the Expansion Space Construction Agreement, the Expansion Space
shall be tendered in an “as-is” condition, subject to (1) the Expansion
Space Construction Agreement and (2) any latent defects in the Expansion
Space of which Tenant notifies Landlord within one (1) year after the
Expansion Space Commencement Date (excluding defects in

 

27

 

work performed by
Tenant Parties). The tenant improvements to the Expansion Space shall be
constructed in accordance with the Expansion Space Construction Agreement
attached to the applicable lease amendment.

 

E.             Parking. For the Expansion Space, Tenant shall
take and pay for 3.5 parking permits per 1,000 Usable Square Feet in the
Expansion Space leased by Tenant, allowing access to unreserved spaces in
parking facilities which Landlord provides for the use of tenants and occupants
of the Property. During the initial Term (and, if applicable, during any
renewal or extension term of this Lease), Tenant shall pay Landlord the same
parking fees as are payable by Tenant for its other parking permits pursuant to
Exhibit B to the Lease.

 

F.             Modification
of Expansion Space. Landlord intends to lease the Expansion Space to other tenants, all
subject and subordinate to Tenant’s expansion option hereunder. The division of
the Expansion Space into two parts, each subject to a separate expansion
option, could facilitate the leasing of such space by Landlord and could also
benefit Tenant by providing Tenant with greater flexibility in meeting its
future expansion requirements. Accordingly, if Landlord determines that it
would be beneficial to divide the Expansion Space into two parts, Landlord
shall notify Tenant, and Landlord and Tenant shall discuss any proposed
modification of the terms of Tenant’s expansion option in good faith.

 

28

 

RIDER
NO. 3

 

PREFERENTIAL
RIGHT TO LEASE

 

A.            Preferential
Right To Lease.
So long as thirty-six months remain in the initial Term, Tenant shall have a
Preferential Right to Lease space on the 3rd floor of the Building and the 5th floor of the
Building (the “Preferential Space”),
at such time as such space becomes Available (as defined below) for direct
lease to a new tenant (whether or not a bona fide offer has been made);
provided no uncured event of default exists under the Lease (and no condition
exists which, with the passage of time and/or giving of notice, would be an
event of default) and Tenant remains in occupancy of the entire Premises. The
Preferential Space shall be deemed “Available”
at such time as Landlord decides to offer the Preferential Space for lease and
such space is no longer any of the following: (i) leased or occupied;
(ii) assigned or subleased by the then-current tenant of the space; and
(iii) re-leased by the then-current tenant of the space by renewal,
extension or renegotiation (whether agreed to prior to or after the Effective
Date). This Preferential Right to Lease shall terminate upon relocation of the
Premises to another building by agreement of Landlord and Tenant or upon any
Transfer as defined in the Lease. The Preferential Space shall be reduced to
the extent Tenant leases any portion thereof, whether or not pursuant to a
formal option provision in the Lease.

 

B.            Acceptance. Prior to leasing the Preferential Space
to a new tenant, Landlord shall first offer such space in writing to Tenant
specifying the amount and location of such space, the anticipated date of
tender of possession, the proposed lease term (which shall not extend beyond
the Expiration Date), the rental rate based on the then-quoted rental rates for
comparable space in the Property as of the anticipated Preferential Space
Commencement Date (as defined below), including any projected rate increases
over the applicable term, and other applicable terms (the “Preferential
Rental Notice”). Tenant shall have 5 days within which to accept
or reject such offer. If Tenant accepts Landlord’s offer, Landlord shall
deliver to Tenant a written lease amendment conforming to this Rider No. 3
(“Preferential Space Lease Amendment”)
within 15 days after receipt of Tenant’s acceptance of Landlord’s offer. Tenant
shall, within 15 days after receipt of the Preferential Lease Space Amendment,
execute and return the Preferential Space Lease Amendment adding the
Preferential Space to the Premises for all purposes under the Lease (including any
extensions or renewals) and confirming the Base Rent and other applicable terms
specified in the Preferential Rental Notice. Such lease amendment shall contain
a construction agreement (“Preferential Space
Construction Agreement”) using Landlord’s then-current form
setting forth the construction schedule mutually agreed upon by Landlord and
Tenant, including a construction allowance comparable to the construction
allowance then being provided by Landlord in comparable transactions and other
terms and obligations of the parties regarding the construction of the tenant
improvements in the Preferential Space. If Tenant rejects such offer or fails
timely to (i) accept such offer or (ii) execute and return the
Preferential Space Lease Amendment, then this Preferential Right to Lease shall
lapse and be of no further force and effect. In such event, Landlord shall be
relieved of any future obligations hereunder and may thereafter lease all or
part of the Preferential Space to any party without further notice or obligation
to Tenant. Notwithstanding the foregoing, if Tenant’s Preferential Right to
Lease lapses with respect to any portion of the Preferential Space located on
the 3rd floor of the
Building (“3rd Floor Lapsed
Space”), and if Landlord thereafter leases such Third Floor Lapsed Space to
another tenant (a “New Preferential Space Lease”), such 3rd Floor Lapsed
Space shall once again be subject to Tenant’s Preferential Right to Lease upon
the expiration of the New Preferential Space Lease. (subject to any renewal
options which may be granted to the tenant under the New Preferential Space
Lease).

 

C.            Tender
of Possession.
The Preferential Space shall be leased for the period commencing upon
Landlord’s tender of possession of the Preferential Space in accordance with
Landlord’s offer and this Rider (the “Preferential Space
Commencement Date”) and continuing through the expiration or
earlier termination of the Term, as it may be extended or renewed. Landlord
shall not be liable for any delay or failure to tender possession of the
Preferential Space by the anticipated tender date for any reason, including by
reason of any holdover tenant or occupant, nor shall such failure invalidate
the Lease or extend the Term.

 

D.            Condition
of Premises.
The Preferential Space shall be tendered in an “as-is” condition, subject to
(1) the Preferential Space Construction Agreement and (2) any latent
defects in the

 

29

 

Premises of which Tenant notifies Landlord within one
(1) year after the Preferential Space Commencement Dale (excluding defects
in work performed by Tenant Parties). All leasehold improvements shall be
constructed in the Preferential Space in accordance with the Preferential Space
Construction Agreement (if any) attached to the Preferential Space Lease
Amendment.

 

E.             Parking. For the Preferential Space, Tenant shall
take and pay for 3.5 additional parking permits per 1,000 Usable Square Feet in
the Preferential Space leased by Tenant, allowing access to unreserved spaces in
parking facilities which Landlord provides for the use of tenants and occupants
of the Property. During the Initial Term (and, if applicable, during any
renewal or extension term of this Lease), Tenant shall pay the same parking
fees as are payable by Tenant for its other parking permits pursuant to
Exhibit E to the Lease.

 

30

 

EXHIBIT A-1

 

OUTLINE
AND LOCATION OF PREMISES

 

 

A-1-i

 

EXHIBIT
A-2

 

LEGAL
DESCRIPTION OF PROPERTY

 

That portion of Lot 1 of “Hughes Center Unit No. 3” as
shown by map thereof on file in Book 65, page 38 of Plots, in the Clark
County Recorder’s Office, Clark County, Nevada, lying within the Southeast
Quarter (SB 1/4) of Section 16, Township 21 South, Range 6l East,
M.D.B. &  M., Clark
County, Nevada and described as follows:

 

Commencing at the Southwest Corner of Section 15,
Township 21 South, Range 61 East, M.D.B. & M., Clark County, Nevada as
shown on said map of “Hughes Center Unit No. 3: Thence North 82”03’24”
East along the South line of said “Hughes Center Unit No. 3”, a distance
of 187.82 feet to a point on the Westerly right-of-way line of Paradise Road
(Eighty (80) feel wide); Thence North 14°03’40” West along said right-of-way line,
604,56 feet; Thence curving to the right along the arc of a 3040.00 fool radius
curve of said right-of-way line, concave Northeasterly, through a central angle
of 08°12’50”; an arc length of 435.82 feet to the Point of Beginning, to which
a radial line bears South 84°09’10” West;

 

Thence North 89°53’40” West, 321.21 feet; Thence North
00°06’20” 258.41 feet to a point on the North line of said lot 1 being the
South right-of-way line of Corporate Drive (Eighty (80) feet wide); Thence
North 89°53’40” West along said right-of-way line, 193.56 feet; Thence curving
to the left along the arc of a 30.00 foot radius curve, concave Southeasterly,
through a central angle of 81°03’14”, an arc length of 42.44 feet to a point on
the Easterly right-of-way line of Howard Hughes Parkway (Eighty (80) feet
wide); Thence South 09°03’06” West, along Said Easterly right-of-way line,
90.07 feet; Thence curving to the right along the arc of a 940.00 foot radius
curve, concave Northwesterly, through a central angle of 17°57’31”, an arc
length of 294.63 feet to a point of cusp to which a radial line bears South
62°59’23” East; Thence from a tangent bearing South 59°36’54” East, curving to
the right, along the arc of a 332.50 foot radius curve, concave Southwesterly,
through a central angle of 05°32’15”, an arc length of 32.14 feet; Thence South
54°04’39” East 40.26 feet; Thence curving to the loft along the arc of a 150.00
foot radius curve, concave Northerly, through a central angle of 56°52’48” an
arc length of 148.91 feet: Thence North 69°02’33” East, 15.30 feet; Thence
curving to the left along the arc of a 175.00 foot radius curve, concave
Northwesterly, through a central angle of 26°24’24” an arc length of 80.65 feet
to a point to which a radial line bears South 47°21’51” East; Thence South
89°53’40” East, 385.61 feet to a point on a curve, said point also being a
point on the aforementioned Westerly right-of-way line of Paradise Road; Thence
from a tangent bearing North 08°35’01” West, curving to the right along the arc
of a 3040.00 foot radius curve, concave Northeasterly, through a central angle
of 02°44’12” an arc length of 145.20 feet to the Point of Beginning.

 

3930 HOWARD HUGHES PARKWAY

 

A-2-i

 

EXHIBIT
B

 

RULES
AND REGULATIONS

 

1.             Tenant, or its officers, agents, employees, contractors
or vendors, shall not obstruct sidewalks, doorways, vestibules, halls,
corridors, stairways, lobbies and other common areas (the “Public Areas”) with
refuse, furniture, boxes, or other items. The Public Areas shall not be used
for any purpose other than ingress and egress to and from the Premises, or for
going from one part of the Building to another part of the Building. Tenant’s
doors to the Premises shall not he blocked open and shall remain closed at all
times unless first approved in writing by Landlord in its sole discretion.

 

2.             Plumbing, fixtures and appliances shall be used only for
the purposes for which constructed and no unsuitable material shall be placed
therein.

 

3.             No signs, directories, posters, advertisements, or
noticed shall be painted on or affixed to any portion of the Building or
Premises or other parts of the Building. Including within Tenant’s Premises,
which are visible from any Public Areas or the Building exterior, except in
such color, size, and style, and in such places, as shall be first approved in
writing by Landlord at its sole discretion. The Premises shall be identified by
a standard suite sign, which Landlord shall order at Tenant’s expense. Landlord
shall have the right to remove all unapproved signs without notice to Tenant,
at Tenant’s expense.

 

4.             Tenant shall not do, or permit anything to be done in or
about the Building, or bring or keep anything therein, that will in any way
increase the possibility of fire or other hazard or increase rate of fire or
other insurance on the Building, Tenant shall not use or keep in the Building
any inflammable or explosive fluid or substance or any illuminating materials.
No space heaters or portable fans shall be operated in the Building. Tenant
must submit to Landlord a certificate of Fire Retardancy for any fresh
evergreens (i.e. Christmas tree, wreaths) to be brought onto the Premises.

 

5.             Tenant shall notify Landlord when safes or other heavy
equipment (such as, for example, rolling file systems) are to be taken in or
out of the Building, and such moving shall only be done after written
permission, which shall not be unreasonably withheld, is obtained from Landlord
on such conditions as Landlord may require at its reasonable discretion.
Landlord shall have the power to prescribe the weight and position of heavy
equipment or other objects, which may overstress any portion of the Building.
All damage done to the Building by such heavy items will be repaired at the
sole expense of the responsible Tenant.

 

6.             During normal business hours, Tenant may receive routine
deliveries at the Premises (i.e. office supplies, bottled water, mail couriers
and parcel shipments). All such deliveries must be made via the Building’s
designated service access route and under no circumstances through the front
lobby door provided that Tenant’s runners and others may use the front lobby
doors for the delivery of documents and similar hand-carried items, Tenant’s
initial move-in, move-out and all other non-routine deliveries (i.e.
furnishings, large equipment) must occur after normal business hours and only
after written permission is obtained from Landlord, on such conditions as
Landlord may require in its sole discretion.

 

7.             Tenant shall cooperate with Landlord in keeping the
Premises neat and clean.

 

8.             Tenant shall not cause or permit any improper noises in
the Building, or allow any unpleasant odors to emanate from the Premises, or
otherwise interfere, injure or annoy in any way other tenants in the Building,
or persons having business with them.

 

9.             No animals shall be brought into or kept in or about the
Building with the exception of aid animals such as Seeing Eye dogs. 

 

10.           When conditions are such that Tenant
must dispose of small shipping crates or boxes, it will be the responsibility
of Tenant to break down and dispose of same in the refuse container designated
by Landlord. The disposal of largo shipping crates or boxes (or other large
objects or quantities), which in Landlord’s sole determination could overload
the designated refuse container, must be accommodated through Tenant’s mover or
vendor or may otherwise be prearranged through Landlord at an additional charge
to Tenant’s account.

 

B-i

 

11.           No machinery of any kind, other than
ordinary office machines such as typewriters, calculators, facsimile equipment,
personal computer equipment and other machinery and equipment which is
typically found in professional offices shall be operated on the Premises
unless first approved in writing by Landlord in its sole discretion.

 

12.           No bicycles, motorcycles or similar
vehicles will be allowed in the Building.

 

13.           No nails, hooks, or screws (other
than those which are necessary to hang paintings, prints, or other similar
items on the interior walls of the Premises) shall be driven into or inserted
in any part of the Building unless first approved in writing by Landlord in its
sole discretion.

 

14.           After normal business hours, Landlord
reserves the right to exclude from the Building any person who does not possess
an authorized means of access such as a key, card key, or a prearranged written
authorization and who is otherwise not an employee or guest of Tenant. Tenant
and its officers, agents or employees shall utilize card keys only as
instructed by Landlord and in no event shall Tenant allow access to anyone,
other than its officers, agents, employees, guests or vendors.

 

15.           Canvassing, soliciting and peddling
in Public Areas, or otherwise within the Building, are strictly prohibited.
Unless otherwise approved by Landlord in writing, Tenant shall not use the
Premises for the sale of newspapers, magazines, periodicals, theater tickets or
any other goods or merchandise to other tenants in the Building or the general
public. Tenant shall not use the Premises for any business or activity other
than that specifically provided for in Tenant’s lease. Tenant shall I not make
door-to-door solicitation of business from other tenants in the Building.

 

16.           Landlord shall initially give tenant
thirty-five (35) keys to the Premises. Tenant shall make no duplicates of such
keys. Additional keys shall be obtained only from Landlord, at a fee to be
determined by Landlord. No additional locks shall be placed upon any doors
unless first approved by Landlord in writing. Upon termination of Tenant’s
lease, Tenant shall surrender all keys to the Premises (and, if applicable,
card keys) to Landlord and shall otherwise give Landlord the combination of all
locks on the Premises.

 

17.           Tenant will not locate furnishings or
cabinets adjacent to mechanical or electrical access panels or over air
conditioning outlets so as to prevent operating personnel from servicing such
units as routine or emergency access may require. Cost of moving such
furnishings for Landlord’s access will be billed to Tenant. The lighting and
air conditioning equipment of the Building is the exclusive charge of Landlord
and its employees.

 

18.           Tenant shall comply with all parking
rules and regulations as posted and distributed by Landlord from time to
time.

 

19.           No portion of the Building shall be
used for the purpose of lodging rooms.

 

20.           Tenant shall not waste electricity,
water or other utilities. Tenant will comply with any governmental
energy-saving rules, laws or regulations of which Tenant has received notice.
Tenant agrees to cooperate fully with Landlord to assure the effective
operation of the Building’s heating and air conditioning and to refrain from
adjusting thermostat controls.

 

21.           Tenant shall not place vending
machines or dispensing machines of any kind in the Premises (other than soda
machines for the use of Tenant’s employees and guests), unless first approved
in writing by Landlord in its sole discretion.

 

22.           Landlord’s written approval, which
shall be at Landlord’s sole discretion, must be obtained prior to changing from
the standard blinds. Landlord will control all blinds and internal lighting
that may be visible from the exterior or Public Areas of the Building and shall
have the right to change any unapproved blinds and lighting at Tenant’s
expense.

 

23.           Intentionally Omitted.

 

24.           Intentionally Omitted.

 

B-ii

 

25.           Tenant shall comply with all safety,
fire protection, and evacuation procedures and regulations established by
Landlord or any governmental agency. Landlord has the right to evacuate the
Building in the event of an emergency or catastrophe. Landlord reserves the
right to prevent access to the Building in cases of invasion, mob, riot, bomb
threat, public excitement or other commotion by closing the doors or by taking
other appropriate action.

 

26.           Tenant assumes any and all
responsibility for protecting the Premises from theft, robbery and pilferage,
which includes keeping doors locked when the Premises are not fully inhabited.

 

27.           Smoking shall not be permitted on any
multi-tenant floor in the Building. Smoking is permitted on any floor in the
Building, which is leased entirely by a single tenant (if so desired by that
tenant). Smoking is also permitted outside the Building, however, smokers must
utilize the ash urns which are located outside the Building at the designated
smoking area.

 

28.           Landlord has the right to designate a
property management company to, among other things, monitor and enforce the
Rules and Regulations.

 

29.           Tenant is solely responsible for the
cost to maintain and repair any and all “Above Standard” items installed within
their Premises (ie., computer room air conditioning unit, sinks, garbage
disposals, dishwashers, custom locking devices, specialty lighting, private
restroom fixtures (not including Building standard fixtures in the core-area
bathrooms on the floor on which the Premises is located), etc.)).

 

30.           Landlord reserves the right to
rescind any of these rules and regulations and to make such other and
further rules and regulations as in its sole judgment. And shall from time to
time be required for the successful and professional operation of the Building,
which rules shall be binding upon each tenant and its officers, agents,
employees, guests and vendors upon delivery to tenant. Landlord shall enforce
all rules and regulations in a non-discriminatory manner. In the event of
any conflict between these rules and regulations (as the same may be
modified or supplemental hereunder) and the terms of the Lease, the terms of
the Lease shall be controlling.

 

B-iii

 

EXHIBIT
C

 

COMMENCEMENT
LETTER

 

Re:                               Office Lease
dated                ,
200   (the “Lease”) between 3930 HHP LLC (“Landlord”) and
HALE  LANE PEEK DENNISON AND HOWARD
PROFESSIONAL CORPORATION (“Tenant”)
for the Premises, Rentable Square Footage of which is 18,035, located
on the fourth floor of 3930 Howard Hughes Parkway. Unless otherwise specified,
all capitalized terms used herein shall have the same meanings as in the Lease.

 

Landlord and Tenant agree that:

 

Landlord has fully completed all Landlord Work
required under the terms of the Lease, if any.

 

Tenant has accepted
possession of the Premises. The Premises are usable by Tenant as intended;
Landlord has no further obligation to perform any Landlord Work or other
construction except as otherwise stated in the Lease.

 

The Commencement Date of the Lease
is                                              , 200   .

 

The Expiration Date of
the Lease is the last day of
                                ,
          .

 

Tenant’s Address at the Premises after the
Commencement Date is:

 

 

 

Attention:

Phone:

Fax:

 

All other terms and conditions of the Lease are
ratified and acknowledged to be unchanged.

 

EXECUTED as of
                              ,
200 .

 

	
   

  	
  {ATTACH
  APPROPRIATE

  SIGNATURES}

  

 

C-i

 

EXHIBIT D

 

Work Letter Version 3

 

[structural improvements —
construction allowance — Landlord managed construction]

 

This Work Letter is attached as an Exhibit to an Office Lease (the “Lease”) between
3930 HHP LLC, as Landlord, and HALE LANE PEEK DENNISON AND HOWARD PROFESSIONAL
CORPORATION, as Tenant, for the Premises, the Rentable Square Footage of which
is 18,035, located on the fourth floor of the Building. Unless otherwise
specified, all capitalized terms used in this Work Letter shall have the same meanings
as in the Lease. In the event of any conflict between the Lease and this Work
Letter, the latter shall control.

 

1.                                      Approved
Construction Documents.

 

(A)                      Architectural
Documents. No later than June 15,
2005, Tenant shall submit to Landlord complete, finished and detailed
architectural, drawings and specifications to include Tenant’s partition
layout, reflected ceiling, telephone and electrical outlets and equipment
rooms, doors (including hardware and keying schedule), glass partitions,
windows (if any), critical dimensions, millwork and finish schedules, together
with all supporting information and delivery schedules (the “Architectural Documents”).
Tenant shall provide Landlord with Tenant’s furniture layout as soon
as is practicable, which may be after June 15, 2005. The Architectural
Documents shall be prepared by Spazio Design, acting as Tenant’s architect. The
Architectural Documents shall comply with Laws and shall be presented in
Landlord’s format satisfactory for filing with the appropriate governmental
authorities for required permits and licenses.

 

(B)                      Landlord’s
Approval. Within 10 business days after receipt
of Tenant’s Architectural Documents, Landlord (or its designated architectural
and/or engineering firm) shall approve or disapprove such documents in writing.
Tenant shall submit corrected Architectural Documents within 10 Business Days
of receipt of Landlord’s disapproval notice. Landlord shall approve or
disapprove the corrected Architectural Documents within 5 additional days from
receipt thereof. In the event Landlord fails to approve or disapprove the
Architectural Documents within the time periods set forth herein, the
Architectural Documents shall be deemed approved. Upon Landlord’s approval, the
Architectural Documents shall become the “Approved Architectural Documents”. If
Landlord disapproves, Landlord shall provide Tenant in writing specific reasons
for such disapproval.

 

2.                        Pricing
and Bids. Within five (5) business
days following receipt of the Approved Architectural Documents, Landlord shall
seek 3 competitive bids from general contractors from Landlord’s approved
bidding list. Tenant shall have the option of submitting the names of up to 2 general
contractors for inclusion in the bidding process so long as such contractors are
acceptable to Landlord. Only subcontractors from Landlord’s approved
subcontractor list or otherwise approved by Landlord shall be allowed to work
on the mechanical, electrical and plumbing components of the Building. Tenant
shall be invited to the bid opening and allowed to participate in the selection
of the successful bidder; provided Landlord and Tenant shall jointly make the
final selection of the general

contractor.

 

2.1                               Mechanical,
Electrical and Plumbing.

 

(A)                      MEP
Documents. Within ten (10) business
days after the selection of the general contractor pursuant to Paragraph 2
above, Landlord shall submit to Tenant (or Tenant’s designated architect)
complete, finished and detailed mechanical, electrical and plumbing drawings
and specifications, air conditioning and heater systems, duct work and
electrical facilities, together with supporting information and delivery
schedules (the “MEP
Documents”). The MEP Documents shall be prepared by the
mechanical, electrical and plumbing subcontractors from Landlord’s approved
subcontractor list who were included in the general contractor’s approved bid.
The MEP Documents shall comply with Laws and shall be presented in Landlord’s
format satisfactory for filing with the appropriate governmental authorities
for required permits and licenses.

 

(B)                      Approval. Within 10
business days after receipt of the MEP Documents, Landlord (or its designated
engineering firm) and Tenant (or its designated architectural firm) shall
mutually finalize and approve such documents. Upon such finalization and
approval, the

 

D-i

 

Architectural
Documents and the MEP Documents shall become,
collectively, the “Approved Construction Documents”. 

 

3.                                      Landlord’s
Contributions. Landlord will provide a
construction allowance not to exceed $30.00 multiplied by the
Usable Square Footage of the Premises
(the “Construction Allowance”), toward the cost
of constructing the Landlord Work. Payments shall be made directly to Landlord’s contractor
performing the Landlord Work. The cost of (a) all space planning; design,
consulting or review services and construction
drawings, (b) extension of electrical wiring from Landlord’s designated
location(s) to the Premises, (c) purchasing and installing all building equipment
for the Premises (including above building standard electrical equipment
approved by Landlord), (d) required metering, re-circuiting or re-wiring for
metering, equipment rental, engineering
design services, consulting services, studies, construction services, cost of
billing and collections, (e) materials and labor, (f) supplemental air
conditioning, (g) fire suppression systems (h) cabling for telecommunications
systems and computers, and (i) security
systems, shall all be included
in the cost of the Landlord Work and may be paid out of the Construction Allowance, to the extent sufficient funds are available for such purpose.
In addition, Tenant shall be entitled to use any portion of the Construction Allowance
which is not utilized for the cost of constructing the Landlord Work (up to a
maximum of Two Dollars ($2.00) multiplied by the
Usable Square Footage of the Premises) for the payment of Tenant’s costs of
moving its personal property to the Premises. The Construction Allowance made
available to  Tenant under this Work Letter must be utilized
for its intended purpose within 365 days of the Effective
Date or be forfeited with no further obligation on the part of Landlord.

 

4.                       Construction.

 

(A)                      General Terms. Subject to the
terms of this Work Letter, Landlord agrees to cause leasehold improvements to
be constructed in the Premises
(the “Landlord Work”) in
a good and workmanlike manner in accordance with the Approved Construction Documents.
Tenant acknowledges that Landlord is not an architect or engineer, and that the
Landlord Work will be designed and performed by independent
architects, engineers and contractors.
Accordingly, Landlord does not guarantee or warrant that the Approved
Construction Documents will comply with Laws or be free from errors or
omissions, nor that the Landlord Work will be free from defects, and Landlord will  have no
liability therefor. Landlord does agree, however, to
require the general contractor to warrant the Landlord Work against defects in
workmanship for a  period of at least one
(1) year and to agree that such warranty may be assigned to Tenani and (ii)
assign all manufacturers warranties to Tenant. In the event or any errors,
omissions or defects in the Landlord Work, and upon
Tenant’s written request, Landlord will use commercially reasonable efforts to
cooperate with Tenant in enforcing any applicable warranties, In addition,
Landlord’s approval of the Architectural Documents or the MEP Documents or the Landlord Work shall not be interpreted to waive or otherwise modify
the terms and provisions of the Lease. Except
with respect to the economic terms set forth in Paragraph 3 of this Work
Letter, the terms and provisions contained
in this Work Letter shall survive the completion of the Landlord Work
and shall govern in all applicable
circumstances arising under the Lease throughout the term of the Lease,
including the construction of future improvements in the Premises. Tenant
acknowledges that Tenant’s Information and the Approved Construction Documents
must comply with (i) the definitions used by
Landlord for the electrical terms used in this Work Letter, and (ii) the
electrical and HVAC design capacities of the Building.

 

(B)                      ADA Compliance. Landlord shall, as an Operating Expense, be
responsible for ADA (and any applicable state accessibility standard)
compliance for the core areas of the Building (including, but not limited to,
elevators, Common Areas, and service areas), the Property’s parking facilities
and all points of access into the Property. Tenant shall, at its expense,
be responsible for ADA (and any applicable state
accessibility standard)
compliance in the Premises, including restrooms on any floor now or hereafter
leased or occupied in its entirety by Tenant, its Affiliates or transferees.
Landlord shall not be responsible for determining whether Tenant is a public
accommodation under ADA or whether the Approved Construction Documents comply
with ADA requirements, including submission of the Approved Construction
Documents for review by appropriate state agencies. Such determinations, if
desired by Tenant, shall be the sole responsibility of Tenant.

 

(C)                      Substantial Completion. The Landlord
Work shall be deemed to be “Substantially Complete” on the date that both (i) all
Landlord Work (other than any details of

 

D-ii

 

construction,
mechanical adjustment or any other similar matter, the noncompletion of which
does not materially interfere with Tenant’s use or occupancy of the Premises)
has been performed, and (ii) a certificate of occupancy or temporary
certificate of occupancy has been issued for the Premises, or the Landlord Work
has received final inspection approval from Clark County allowing Tenant to
lawfully occupy the Premises. Time is of the essence in connection with the
obligations of Landlord and Tenant under this Work Letter. Landlord shall not
be liable or responsible for any claims incurred (or alleged) by Tenant due to
any delay in achieving Substantial Completion for any reason. Except its
otherwise expressly set forth in the Lease, Tenant’s sole and exclusive remedy
for any delay in achieving Substantial Completion for any reason other than
Tenant Delay (defined below) shall be the resulting postponement (if any) of
the commencement of rental payments under the Lease. “Tenant Delay” means any
actor omission of Tenant or its agents, employees, vendors or contractors that
actually delays the Substantial Completion of the Landlord Work, including: (i) Tenant’
s failure to furnish information or approvals within any time period specified
in this Lease, including the failure to prepare or approve preliminary or final
plans by any applicable due date; (ii) Tenant’s selection of non-building
standard equipment or materials (upon request, Landlord shall provide Tenant
with a list of building standard equipment and materials; (iii) changes
requested or made by Tenant to previously approved plans and specifications; or
(iv) performance of work in the Premises by Tenant or Tenant’s contractor(s)
during the performance of the Landlord Work.

 

5.                                     Costs.

 

(A)                      Change Orders and Cost
Overruns. Landlord’s approval is required in advance of all changes
to, and deviations from, the Approved Construction Documents (each, a “Change Order”), including
any (i) omission, removal, alteration or other modification of any portion
of the Landlord Work, (ii) additional architectural or engineering
services, (iii) changes to materials, whether building standard materials,
specially ordered materials, or specially fabricated materials, or (iv) cancellation
or modification of supply or fabrication orders. Except as otherwise expressly
provided in this Work Letter, all costs of the Landlord Work in excess of the
Construction Allowance including Change Orders requested by Tenant and approved
by Landlord which increase the cost of the Landlord Work (collectively, “Cost Overruns”)  shall
be paid by Tenant to Landlord within 10 days of receipt of Landlord’s invoice.
In addition, at Landlord’s election, Landlord may require Tenant to prepay up
to fifty percent (50%) of any projected Cost Overruns within 10 days of receipt
of Landlord’s invoice for same. Landlord may stop or decline to commence all or
any portion of the Landlord Work until such payment (or prepayment) of Cost
Overruns is received. On or before the Commencement Date, and as a condition to
Tenant’s right to take possession of the Premises, Tenant shall pay Landlord
the entire amount of all Cost Overruns, less any prepaid amounts. Tenant’s
failure to pay, when due after the presentation of Landlord’s invoice, any Cost
Overruns or the cost of any Change Order shall constitute an event of default
under the Lease.

 

(B)                      Construction Management Fee. Tenant shall;
for supervision and administration of the construction and installation of the Landlord
Work, pay Landlord a construction management fee of $13,650.00 for the Landlord
Work, which may be paid from the unused portion of the Construction Allowance
(if any). Fifty percent (50%) of such management fee shall be paid prior to
Landlord’s commencement of the Landlord Work, and the remaining fifty percent
(50%) of such management fee shall be paid on or before the Commencement Date
as a condition to Tenant’s right to take possession of the Premises. Tenant’s
failure to pay such construction management fee when due shall constitute an
event of default under the Lease.

 

D-iii

 

EXHIBIT E

 

HUGHES CENTER

 

PARKING AGREEMENT

 

This Parking Agreement is incorporated by reference
into that certain Lease Agreement dated as of June 1, 2005, HALE LANE PEEK
DENNISON AND HOWARD, PROFESSIONAL CORPORATION, as Tenant, and 3930 HHP LLC, as
Landlord (the “Lease”).

 

1.                         Parking Facilities. The parking
facilities appurtenant to the Building include asphalt surface parking for
visitor parking and a separate parking structure for monthly parking (“Parking
Structure”). The Parking Structure will accommodate three and one-half (3.5)
parking spaces per one thousand (1,000) Usable Square Feet in the Premises.
However, at Tenant’s request, Tenant shall initially be entitled to use only thirty-five
(35) vehicle parking spaces within the Parking Structure for the monthly
parking of Tenant’s employees. All thirty-five (35) parking spaces shall be for
parking in the covered portion of the Parking Structure. Tenant’s use of the
Parking Structure shall be based upon a non-exclusive use in common with Landlord,
other tenants of the Building, and their guests and invitees. Tenant shall not
use more parking spaces than said number, or any spaces (a) which have
been specifically assigned by Landlord to other tenants or for such other uses
as visitor parking or (b) which have been designated by governmental
entities of competent jurisdiction as being restricted to certain uses.
Landlord reserves the right to erect such security and access and egress
control devices as it may reasonably deem to be appropriate (including, without
limitation card controlled gates) and Tenant agrees to cooperate fully with
Landlord in such matters. Tenant shall not permit or allow any vehicles that
belong to or are controlled by Tenant or Tenant’s employees, suppliers,
shippers, customers, or invitees to be loaded, unloaded, or parked in areas
other than those designated by Landlord for such activities. If Tenant permits
or allows any of such prohibited activities, then Landlord shall have the
right, without notice, in addition to such other rights and remedies that it
may have, to remove or low away the vehicle involved and charge the cost to
Tenant, which cost shall be immediately payable upon demand by Landlord. The
number of parking spaces which Tenant is entitled to use shall increase from
thirty-five (35) to thirty-nine (39) covered parking spaces on the first annual
anniversary of the Commencement Date, to forty-three covered parking spaces on
the second annual anniversary of the Commencement Date, to forty-seven (47)
covered parking spaces on the third annual anniversary of the Commencement Date
and to fifty-one (51) covered parking spaces on the fourth annual anniversary
of the Commencement Date. At Tenant’s request, and subject to availability,
Landlord shall make some or all of the additional parking spaces described in
the preceding sentence (up to fifty-one (51) total parking spaces pursuant to
this Paragraph 1) available to Tenant prior to the dates set forth in the
preceding sentence.

 

2.                        Parking Fee. During the
first five (5) years of the Lease Term, Tenant shall pay Fifty-five Dollars
($55.00) per space per month for covered parking and Thirty Dollars ($30.00) per
space per month for uncovered parking (the “Parking
Fees”). After the first five (5) years of the Lease Term,
Landlord shall have the right from time to time to increase the Parking Fees
being charged Tenant upon thirty (30) days prior written notice. Tenant agrees
and acknowledges that Tenant shall be obligated to pay such rates regardless of
whether or not Tenant actually uses or needs the parking spaces which Tenant is
entitled to use. Such Parking Fees shall be payable monthly commencing with the
first installment of Base Rent due under the Lease. If the Commencement Date is
other than the first day of a calendar month, the first Installment of the
Parking Fees shall be prorated on the basis of a thirty (30) day calendar
month.

 

3.                        Additional Parking. If Tenant
requires additional parking, Landlord shall make additional parking spaces
available to Tenant, subject to availability; provided that any parking spaces
in excess of three and one-half (3.5) spaces per one thousand (1,000) Usable
Square Feet in the Premises shall be provided to Tenant on a month-to-month
basis only. The Parking Fees (for each additional parking space made available
to Tenant hereunder shall be equal to the Parking Fees per space set forth in
Paragraph 2 above.

 

4.                        Definitions. All
capitalized terms contained in this Parking Agreement that are not defined
herein shall have the same definition as set forth in the Lease.

 

F-i

 

FIRST AMENDMENT

 

THIS FIRST AMENDMENT (the “First Amendment”)  is entered into this 27th day of July, 2007,
by and between 3930 HHP LLC, a Delaware limited liability company (“Landlord”), and HALE LANE PEEK DENNISON AND
HOWARD PROFESSIONAL CORPORATION, a
Nevada professional corporation (“Tenant”).

 

R E C I T A
L S:

 

A.                              Landlord and Tenant entered into that
certain Lease dated June 1, 2005 (the “Lease”),
for space consisting of approximately eighteen thousand thirty-five
(18,035) Rentable Square Feet and seventeen thousand three hundred fourteen
(17,314) Usable Square Feet located at 3930 Howard Hughes Parkway, Suite 400,
Las Vegas, Nevada 89169 (the “Original
Premises”).

 

B.                              Landlord and Tenant have agreed to amend
the Lease, upon all of the same terms and conditions contained in the Lease,
except as set forth herein, to expand the Premises to include the space known
as Suite 360 on the third floor of the Building, as outlined on the floor
plan attached to this First Amendment as Attachment “A” and incorporated herein
by reference (the “Suite 360 Expansion Space”), and
to otherwise amend the Lease as specifically set forth herein.

 

C.                              The Suite 360 Expansion Space is
stipulated for all purposes to contain approximately nine thousand two hundred
fifty-two (9,252) Rentable Square Feet and eight thousand one hundred nine (8,109)
Usable Square Feet.

 

NOW THEREFORE, based upon the covenants and promises
contained herein and other good and valuable consideration, Landlord and Tenant
mutually agree as follows:

 

1.                                           Premises.  Commencing on August 16, 2007 (the “Suite 360 Expansion Space Commencement Date”), the
Suite 360 Expansion Space shall become part of the Premises, and the term
“Premises” shall otherwise mean the Original Premises and the Suite 360
Expansion Space. Commencing on the Suite 360 Expansion Space Commencement
Date, the Premises shall be stipulated for all purposes to contain twenty-seven
thousand two hundred eighty-seven (27,287) Rentable Square Feet and twenty-five
thousand four hundred twenty-three (25,423) Usable Square Feet. The term of
such lease for the entire Premises, including the Suite 360 Expansion
Space and the Original Premises, shall expire on February 29, 2016.

 

If Landlord is delayed in delivering possession of the
Suite 360 Expansion Space due to any reason, including the holdover or
unlawful possession of such space by any third party, or for any other reason,
such delay shall not be a default by Landlord, render this First Amendment void
or voidable, or otherwise render Landlord liable for damages. Any Event of
Default by Tenant with respect to the Suite 360 Expansion Space shall be
an Event of Default under the Lease, and any Event of Default under the Lease
with respect to the Original Premises shall be deemed to be an Event of Default
by Tenant with respect to the Suite 360 Expansion Space. In either event,
Landlord shall have all of the rights and remedies which are available to
Landlord under the terms of the Lease.

 

The Suite 360 Expansion Space is accepted by
Tenant in “as is” condition and configuration. TENANT HEREBY AGREES THAT THE SUITE 360 EXPANSION SPACE IS IN GOOD ORDER
AND SATISFACTORY CONDITION AND THAT, EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN
THIS FIRST AMENDMENT, THERE ARE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND,
EXPRESS OR

 

1

 

IMPLIED, BY LANDLORD REGARDING
THE PREMISES, THE SUITE 360 EXPANSION SPACE, OR THE BUILDING.

 

2.                                             Base Rent.  Beginning on the Suite 360 Expansion
Space Commencement Date, Base Rent for the Suite 360 Expansion Space shall
be as follows:

 

	
   

  	
   

  	
  Rate Per Month/Per

  	
   

  	
   

  	
   

  
	
  Month

  	
   

  	
  Rentable Square Foot

  	
   

  	
  Base Rent Per Month

  	
   

  
	
  August 16, 2007 to July 31, 2008

  	
   

  	
  $

  	
  3.15

  	
   

  	
  $

  	
  29,143.80

  	
   

  
	
  August 1, 2008 to July 31, 2009

  	
   

  	
  $

  	
  3.245

  	
   

  	
  $

  	
  30,022.74

  	
   

  
	
  August 1, 2009 to July 31, 2010

  	
   

  	
  $

  	
  3.342

  	
   

  	
  $

  	
  30,920.18

  	
   

  
	
  August 1, 2010 to July 31, 2011

  	
   

  	
  $

  	
  3.442

  	
   

  	
  $

  	
  31,845.38

  	
   

  
	
  August 1, 2011 to July 31, 2012

  	
   

  	
  $

  	
  3.545

  	
   

  	
  $

  	
  32,798.34

  	
   

  
	
  August 1, 2012 to July 31, 2013

  	
   

  	
  $

  	
  3.651

  	
   

  	
  $

  	
  33,779.05

  	
   

  
	
  August 1, 2013 to July 31, 2014

  	
   

  	
  $

  	
  3.761

  	
   

  	
  $

  	
  34,796.77

  	
   

  
	
  August 1, 2014 to July 31, 2015

  	
   

  	
  $

  	
  3.874

  	
   

  	
  $

  	
  35,842.25

  	
   

  
	
  August1, 2015 to February 29, 2016

  	
   

  	
  $

  	
  3.990

  	
   

  	
  $

  	
  36,915.48

  	
   

  

 

Such Base Rent shall be
paid in equal monthly installments in accordance with Section 4 of the
Lease, provided that the first installment of Base Rent for the Suite 360
Expansion Space shall be due upon Tenant’s execution of this First Amendment.
If the Suite 360 Expansion Space Commencement Date is a  day other than the first day of a month,
then the installment of Base Rent for such month shall be prorated, based on
the number of days in such month.

 

3.                                            Operating Expenses.  Effective as of the Suite 360
Expansion Space Commencement date, Tenant’s Pro Rata Share of Operating
Expenses shall be adjusted to reflect the additional Rentable Square Footage of
the Premises. In addition, the Base Year for the purposes of computing Excess
Operating Expenses for the Suite 360 Expansion Space only shall be 2007.

 

4.                                            Existing Option to Expand.  The expansion of the
Premises pursuant to this First Amendment constitutes the exercise of Tenant’s
Option to Expand pursuant to Rider No. 2 of the Lease. Tenant shall have no
further right to lease additional space, and Rider No. 2 attached to the Lease is
hereby deleted in its entirety.

 

5.                                           Landlord Recapture Right.  Notwithstanding the
provisions of Section 11.B of the Lease, proposals from Tenant to sublease
up to a total of sixty percent (60%) of the Suite 360 Expansion Space shall
not entitle Landlord to terminate the Lease.

 

6                                              Refurbishment Allowance.  Landlord shall provide
Tenant with a refurbishment allowance in the amount of One Hundred Twenty-Nine
Thousand Seven Hundred Forty-Four and 00/100

 

2

 

($129,744.00)
to be used to improve and refurbish the Suite 360 Expansion Space
pursuant to the Work Letter attached hereto as Attachment “B” and incorporated
herein by this reference.

 

7.                                             Parking.  As
of the Suite 360 Expansion Space Commencement Date, Tenant shall be entitled to use an
additional nineteen (19) covered and nine (9) uncovered vehicle parking
spaces in the Parking Structure, all at the prevailing rate which Landlord is
charging for use of the Parking Structure, as the same may be adjusted from
time to time pursuant to Exhibit “E” to the Lease.

 

8.                                             Brokers.  Notwithstanding
any provision to the contrary contained in the Lease, Landlord represents and
warrants to Tenant, and Tenant represents and warrants to Landlord, that, with
the exception of Colliers International (whose commission shall be paid by
Landlord pursuant to a separate agreement), no broker, leasing agent or finder has
been engaged in connection with the transaction contemplated by this First
Amendment. However, in the event of any claims for brokers’ or finders’ fees or
commissions in connection with this First Amendment, Landlord and Tenant hereby
indemnify and hold each other harmless against any loss, claim, expense or
liability with respect to any commissions or brokerage fees claimed as a result
of the execution of this First Amendment and/or the renewal of this Lease due
to any action of the indemnifying party.

 

9.                                             Except as
modified herein, the Lease shall remain in full force and effect.

 

10.                                      All capitalized
terms not defined herein shall have the same meaning as defined in the Lease.

 

3

 

IN WITNESS WHEREOF, this
First Amendment has been executed on the day and year above written.

 

	
   

  	
  LANDLORD:

  
	
   

  	
   

  
	
   

  	
  3930 HHP LLC,

  
	
   

  	
  a Delaware limited
  liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  CRESCENT REAL ESTATE
  EQUITIES

  
	
   

  	
   

  	
  LIMITED PARTNERSHIP,

  
	
   

  	
   

  	
  a Delaware limited partnership

  
	
   

  	
   

  	
  its Managing Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  CRESCENT REAL ESTATE

  
	
   

  	
   

  	
   

  	
  EQUITIES, LTD.,

  
	
   

  	
   

  	
   

  	
  a Delaware corporation

  
	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Robert H. Boykin, Jr.

  
	
   

  	
   

  	
   

  	
  Name:

  	
  ROBERT H. BOYKIN, JR.

  
	
   

  	
   

  	
   

  	
  Title:

  	
  SENIOR VICE PRESIDENT

  
	
   

  	
   

  	
   

  	
   

  	
  LEASING

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  TENANT:

  
	
   

  	
   

  
	
   

  	
  HALE LANE PEEK DENNISON
  AND

  
	
   

  	
  HOWARD PROFESSIONAL
  CORPORATION,

  
	
   

  	
  a Nevada professional
  corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Timothy A. Lukes

  
	
   

  	
  Name:

  	
  Timothy A. Lukes

  
	
   

  	
  Title:

  	
  President

  
						

 

4

 

ATTACHMENT
“A” TO FIRST AMENDMENT

 

Floor
Plan of Suite 360 Expansion Space

 

A-1

 

 

 

ATTACHMENT “B” TO FIRST AMENDMENT

 

WORK
LETTER

 

[TENANT
IS REFURBISHING PREMISES]

 

This
Work Letter is attached as an Attachment to a First Amendment (the “First Amendment”)  between 3930 HHP LLC, as Landlord, and HALE LANE
PEEK DENNISON AND HOWARD PROFESSIONAL CORPORATION, as Tenant, for the Suite 360 Expansion
space, the rentable square feet of which is 9,252, located on the third floor
of the Building. Unless otherwise specified, all capitalized terms used in this
Work Letter shall have the same meanings as in the First Amendment. In the
event of any conflict between the First Amendment and this Work Letter, the
latter shall control.

 

Tenant
agrees to accept the Suite 360
Expansion Space in its current “as
is” condition as of the Suite 360 Expansion Space Commencement Date.
However, Tenant may elect to refurbish the improvements in the Suite 360
Expansion Space or install new improvements in the Suite 360 Expansion
Space (the “Tenant Work”), subject to Article 9 of
the Lease. Upon and subject to the terms and conditions of this Work Letter, Landlord shall
reimburse Tenant for the costs of the Tenant Work; provided, however,
Landlord’s obligation to reimburse Tenant for the Tenant Work shall be: (i) limited to  the lesser of (A) actual
costs incurred by Tenant in its construction of the Tenant Work; and (B) an amount up
to, but not exceeding, One Hundred Twenty-Nine Thousand Seven Hundred
Forty-Four and 00/100 ($129,744.00) (which is $16.00 multiplied by the Usable
Square Feet of the Suite 360 Expansion Space); and (ii) conditioned
upon Landlord’s receipt of written notice (which notice shall be accompanied by
invoices and documentation set forth below) from Tenant that the Tenant Work
has been completed and accepted by Tenant.

 

Landlord
shall make payment for the Tenant Work (limited as described above) within thirty
(30) days following Tenant’s delivery to  Landlord of: (i) third-party
invoices for costs incurred by Tenant in constructing the Tenant Work; (ii) evidence that
Tenant has paid the invoices for such costs; and (iii) lien waivers
from any contractor who has constructed any portion of the Tenant Work or any
materialman who has supplied
materials used or incorporated into any portion of the Tenant Work (if
applicable). Any reimbursement obligation of Landlord under this Work Letter
shall be applied solely to the purposes specified above, as allocated, within
180 days after the Suite 360 Expansion Space Commencement Date or be forfeited
with no further obligation on the part of Landlord.

 

Within
10 days following the date of invoice, Tenant shall, for supervision and
administration of the construction and installation of the Tenant Work, pay
Landlord a construction management fee equal to 8% of the aggregate contract
price for the Tenant Work, which may be paid from the unused portion of the
Construction Allowance (if any). Tenant’s failure to  pay such construction
management fee when due shall constitute an event of default under the Lease.

 

B-1

 

EXHIBIT C

 

COMMENCEMENT LETTER

 

	
  Re:

  	
  Office Lease dated
  June 1, 2005 (the “Lease”) between 3930 HHP LLC (“Landlord”)  and HALE LANE
  PEEK DENNISON AND HOWARD PROFESSIONAL CORPORATION (“Tenant”) for the Premises, the
  Rentable Square Footage of which is eighteen thousand thirty-five (18,035),
  located on the fourth floor of 3930 Howard Hughes Parkway, Las Vegas, Nevada
  89109. Unless otherwise specified, all capitalized terms used herein shall
  have the same meanings as in the Lease.

  

 

Landlord and Tenant agree
that:

 

Landlord has fully completed
all Landlord Work required under the terms of the Lease, if any.

 

Tenant has accepted possession of the
Premises. The Premises are usable by Tenant as intended; Landlord has no further
obligation to perform any Landlord Work or other construction except as
otherwise stated in the Lease.

 

The Commencement Date of the Lease is February 9,
2006.

 

The Expiration Date of the Lease is the last
day of February, 2016.

 

Tenant’s Address at the Premises after the Commencement Date is:

 

Hale Lane Peek Dennison and
Howard Professional Corporation

3930 Howard Hughes Parkway

Suite 400

Las Vegas, NV 89109

Attention:
                                              

Phone:
                                                   

Fax:
                                                       

 

All other terms and
conditions of the Lease are ratified and acknowledged to be unchanged.

 

EXECUTED
as of [ILLEGIBLE], 2006.

 

Please review and sign below, returning the
original copy to the Property Management
office.

 

	
  By:

  	
   

  
	
   

  	
   

  
	
  /s/ Timothy A. Lukes

  	
   

  
	
  Signature

  	
   

  
	
   

  	
   

  
	
  Timothy A. Lukes

  	
   

  
	
  Print Name

  	
   

  
	
   

  	
   

  
	
  President

  	
   

  
	
  Title

  	
   

  

 

 

TENANT ESTOPPEL

 

Upon
Completion, Please Return to:

 

BARCLAYS
CAPITAL REAL ESTATE INC.

200 Park Avenue

New York, New York 10166

Attn:
Lori Rung/CMBS Servicing

 

Today’s Date:                                                                               Lease
Date: June 1, 2005

 

Lease
Commencement Date: February 9, 2006                           Lease
Expiration Date: February 29, 2016

 

Property Name: 3930 Howard Hughes Parkway

 

Landlord: 3930 HHP LLC, a Delaware limited
liability company

 

Tenant:
Hale Lane Peek Dennison and Howard Professional Corporation, a Nevada
professional corporation

 

Leased Premises: Suite/Unit: #400                                              Leased
Square Footage: 18,035 r.s.f.

 

Monthly
Rental (including operating expenses, if applicable): $46,452.28

 

Monthly
Parking: $2,145.00

 

Security Deposit: None                        Portion
previously applied by Landlord: N/A

 

The Lease is [     ] or is not [X] guaranteed. By: N/A

 

The
undersigned states that he/she is fully authorized on behalf of the Tenant in
the above-described Lease to execute this letter and hereby certifies to the
Landlord and Barclays Capital Real Estate Inc., its successors and/or assigns
(hereinafter, “Lender”),
that the information set forth herein is true and accurate:

 

1.                                            Tenant has
entered into a lease agreement and all amendments as described on Exhibit A
(the “Lease”). The Lease is in full force
and effect; there are no other promises, agreements, understandings or
commitments between Landlord and Tenant relating to the Leased Premises; and
Tenant is occupying the Leased Premises and has not given Landlord any notice
of termination thereunder. Tenant has not assigned, sublet, encumbered or
otherwise transferred all or any part of the Leased Premises or the Lease,
except pursuant to sublease or assignment agreements described on Exhibit A.

 

2.                                              To the best of
Tenant’s knowledge and belief, no uncured default, event of default, or
breach by Landlord or Tenant currently exists under the Lease. Tenant has no
claim

 

 

against
Landlord under the Lease and no offset or defense to the enforcement of the
terms of the Lease.

 

3.                                      Tenant is
obligated to pay rent to Landlord at the rate set forth in the Lease. Tenant
has not prepaid any rent or other amounts to Landlord other than rent and other
charges due and payable in the calendar month of this certification.

 

4.                                      In connection
with its use and occupancy of the Leased Premises, Tenant is not and will not
become engaged in the production, treatment, release or storage of hazardous or
toxic substances which pose a substantial risk of imminent damage to public
health or safety or to the environment.

 

5.                                      Tenant is not currently
a debtor in any bankruptcy, reorganization, arrangement or insolvency
proceedings.

 

6.                                      Tenant has
received no notice of prior sale, transfer, assignment, hypothecation or pledge
of the said Lease or of the rents secured therein, except to above described
Lender.

 

7.                                      Tenant has no
options, rights of first refusal, expansion rights, relocation rights, purchase
rights, termination, or exclusive business rights except as set forth in the
Lease, and Tenant has no option or right of first refusal to purchase the
Leased Premises or any portion thereof.

 

8.                                      Tenant is not
identified on the list of specially designated nationals and blocked persons
subject to financial sanctions that is maintained by the U.S. Treasury
Department, Office of Foreign Assets Control and any other similar list
maintained by the Office of Foreign Assets Control pursuant to any authorizing
United States law, regulation or Executive Order of the President of the United
States (“OFAC List”) nor is Tenant
subject to trade embargo or economic sanctions pursuant to any authorizing
United States law, regulation or Executive Order of the President of the United
States,

 

9.                                      Tenant agrees
to attom to and recognize as its landlord under the Lease each party acquiring
legal title to the Property by foreclosure (whether judicial or nonjudicial) of
the Security Instrument, deed-in-lieu of foreclosure, or other sale in
connection with enforcement of the Security Instrument or otherwise in
satisfaction of the Loan.

 

10.                               Tenant agrees
for a period of thirty (30) days from the date hereof to notify Landlord and
Lender in writing of any changes to the statements made by Tenant in
this Certification promptly upon Tenant’s learning of each such change.

 

2

 

11.                               Tenant agrees to provide Lender copies of
any and all notices given under the Lease. Such notices shall be sent to Lender
at the following address (or such other address as Lender may designate):
BARCLAYS CAPITAL REAL ESTATE INC., 200 Park Avenue, New York, New York 10166,
Attn: Lori Rung/CMBS Servicing.

 

	
   

  	
  TENANT:

  
	
   

  	
   

  
	
   

  	
  HALE LANE PEEK DENNISON AND HOWARD PROFESSIONAL
  CORPORATION, 

  a Novada professional corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Timothy A. Lukes

  
	
   

  	
   

  	
  Name:

  	
  Timothy A. Lukes

  
	
   

  	
   

  	
  Title:

  	
  President and Managing Shareholder

  

 

Exhibit A – Description of Lease

 

3

 

EXHIBIT A

TO

TENANT
ESTOPPEL

 

DESCRIPTION
OF LEASE

 

Tenant has entered into a lease agreement and all
amendments, subleases and assignments, if any, as described below:

 

1).                                 Lease Agreement by and between 3930 HHP
LLC, as Landlord and Hale Lane Peek Dennison and Howard Professional
Corporation, as Tenant dated June 1, 2005.

 

4

 

EXHIBIT “C”

TO SUBLEASE AGREEMENT

 

List of Personalty

 

[See attached.]

 

C-1

 

Exterior
Offices

 

	
  Room or Station Number

  	
   

  	
  [ILLEGIBLE] Chair

  	
   

  	
  Side Chair

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
  Return

  	
   

  	
  Overhead

  Unit

  	
   

  	
  Bridge Unit

  	
   

  	
  Bookshelf

  	
   

  	
  File Cabinet

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
  Table

  
	
  406

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  1-727”h x 36”w

  	
   

  	
   

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
   

  
	
  407

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1-2 [ILLEGIBLE]

  	
   

  	
  2-32”w x 72”h

  	
   

  	
   

  
	
  408

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  0

  	
   

  	
   

  	
   

  	
  0

  	
   

  	
  2-84”h x 36”w

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  411

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
  1-2 [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
   

  
	
  412

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  0

  	
   

  	
   

  	
   

  	
  0

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
  2-72”h

  	
   

  	
  1 small table

  
	
  413

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  0

  	
   

  	
  1

  	
   

  	
  0

  	
   

  	
  1-72”h x 36”w

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  414

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  415
  - IT Room

  	
   

  	
  2

  	
   

  	
  0

  	
   

  	
  2

  	
   

  	
  2

  	
   

  	
   

  	
   

  	
  2

  	
   

  	
  0

  	
   

  	
  1-2 door vertical metal cabinet

  	
   

  	
   

  	
   

  	
   

  
	
  418

  	
   

  	
  3

  	
   

  	
  0

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  419

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  420

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  1-72”h x 36”w

  	
   

  	
  1-2 [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
   

  
	
  422

  	
   

  	
  1

  	
   

  	
  0

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  0

  	
   

  	
  1-3 [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
   

  
	
  423

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  0

  	
   

  	
   

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
   

  	
   

  	
  1-72”h

  	
   

  	
  Typing table

  
	
  424

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  426

  	
   

  	
  1

  	
   

  	
  0

  	
   

  	
  1

  	
   

  	
  0

  	
   

  	
   

  	
   

  	
  0

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
  1-2 [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
  [ILLEGIBLE]

  
	
  427

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  2.72”h x 36”w

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  1-24” round

  
	
  434

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
   

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  0

  
	
  [ILLEGIBLE]

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  1-84”h x 36”w

  	
   

  	
  1-2 [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
   

  
	
  [ILLEGIBLE]

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  1-72”h x 36”w

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [ILLEGIBLE]

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1-84” & 1-72”

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  440

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  3.96”h x 36”w 

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [ILLEGIBLE]

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  444

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  0

  	
   

  	
  1

  	
   

  	
  0

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
  1-72” & 1-38”

  	
   

  	
   

  
	
  446

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  0

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  449

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  2-72” & 2-38”

  	
   

  	
   

  	
   

  	
  1-36”

  	
   

  	
   

  
	
  450

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  3-96”h x 36”w

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  451

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  0

  	
   

  	
  2-84”h x 36”w

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  452

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  3-54”h x 36”w

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  453

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  1-72”h x 36”w

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  454

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  1-72”h x 36”w

  	
   

  	
  2-2 [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
   

  
	
  [ILLEGIBLE]

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  2.72” & 1.36”

  	
   

  	
  1-3 [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
   

  
	
  [ILLEGIBLE]

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  2.72” & 1.36”

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

Interior Offices

 

	
   

  	
   

  	
  [ILLEGIBLE] Chair

  	
   

  	
  Side Chair

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
  Return

  	
   

  	
  Overhead

  Unit

  	
   

  	
  Bookshelf

  	
   

  	
  File Cabinet

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
  Table

  	
   

  	
   

  
	
  [ILLEGIBLE]

  	
   

  	
  4

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  16 built in  [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
  1-25” x 40”

  	
   

  	
  1-70” x 36”

  	
   

  	
   

  
	
  [ILLEGIBLE]

  	
   

  	
  3

  	
   

  	
   

  	
   

  	
  Built in

  	
   

  	
   

  	
   

  	
  Built in

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  447

  	
   

  	
  2

  	
   

  	
   

  	
   

  	
  Built in

  	
   

  	
   

  	
   

  	
  Built in

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

Secretarial
Stations

 

	
   

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
  Return

  	
   

  	
  Overhead

  	
   

  	
  Systems

  Furniture

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  460

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [ILLEGIBLE]

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [ILLEGIBLE]

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [ILLEGIBLE]

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

	
  454A

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  454B

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  438A

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  438B

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  442A

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  442B

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  465A

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  465B

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  448A

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  448B

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  457

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

Conference Rooms

 

	
   

  	
   

  	
  Table

  	
   

  	
  Chairs

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
  Small Table

  	
   

  	
  Built in

  cabinet

  white Boards

  	
   

  	
  Large

  screen

  Monitor

  	
   

  	
  Built in Cabinets

  	
   

  	
  Small Refrigerator

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
   

  
	
  Silver
  - 402

  	
   

  	
  1-round 30”

  	
   

  	
  2

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Blue
  - 403

  	
   

  	
  1-round 30”

  	
   

  	
  2

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [ILLEGIBLE]
  - 415

  	
   

  	
  1-10’ x 4”

  	
   

  	
  13

  	
   

  	
  145” Granite top built in

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Valley
  (war Room) - 425

  	
   

  	
  1-8’

  	
   

  	
  3

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
   

  
	
  Sandstone
  - 431

  	
   

  	
  1-8’ x 8” granite topped table

  	
   

  	
  12 conference room chairs / 5 misc.

  	
   

  	
  148” Granite top built in

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Mountain
  (War Room) - 433

  	
   

  	
  1-12’ x 4”

  	
   

  	
  7

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
   

  
	
  [ILLEGIBLE]
  - 445

  	
   

  	
   

  	
   

  	
  10

  	
   

  	
  145” Granite top built in

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [ILLEGIBLE]
  - 404

  	
   

  	
  1-22’ x 63” granite top table

  	
   

  	
  22

  	
   

  	
  164” Granite top built in

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  
	
  [ILLEGIBLE]
  - 405

  	
   

  	
  1-4’ x 4”

  	
   

  	
  4

  	
   

  	
   

  	
   

  	
  2

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

	
   

  	
   

  	
  Table

  	
   

  	
  Chairs

  	
   

  	
  Refrigerator

  	
   

  	
  Sink

  	
   

  	
  Dishwasher

  	
   

  	
  Warming

  Oven

  	
   

  	
  Microwave

  	
   

  	
  Built in Concern &

  Cabinete

  	
   

  	
  Ice Maker

  	
   

  	
   

  
	
  Break
  Room - 458

  	
   

  	
  5

  	
   

  	
  6 high / 12 low /16 [ILLIGIBLE]

  	
   

  	
  2 full size GE

  	
   

  	
   

  	
   

  	
  Yes

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  Yes

  	
   

  	
   

  	
   

  	
   

  
	
  Small
  Kitchen - 417

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Yes under counter

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Yes

  	
   

  	
  Yes Under Counter

  	
   

  	
   

  

 

	
  Reception

  	
   

  	
  Desk Chair

  	
   

  	
  Systems Furniture

  	
   

  	
  Side Chairs

  	
   

  	
  Side Tables

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  1

  	
   

  	
  1 granite & wood

  	
   

  	
  4 high back leather

  	
   

  	
  2

  	
   

  	
  2

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

	
   

  	
   

  	
  Desk Chair

  	
   

  	
  Built in [ILLEGIBLE]

  	
   

  	
  Small Table

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Library - 428

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  3

  	
   

  	
  7.31” x 84” / 3.26” x 84”

  	
   

  	
  1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Built in Counters & Cabinets & 

  [ILLEGIBLE]

  units

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IKON - [ILLEGIBLE]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}]]