Document:

Exhibit

Exhibit 10.28
FIRST AMENDMENT TO LEASE
This FIRST AMENDMENT  TO LEASE (this "Amendment")  is made this 11th day of August, 2009 (the   "Effective Date"),   by   and   between   US   REAL   ESTATE  LIMITED PARTNERSHIP, a Texas limited partnership ("Landlord") and THE UNIVERSITY OF PHOENIX, INC., an Arizona corporation (''Tenant").
RECITALS
A.Landlord and Tenant entered into that certain Lease Agreement dated June 29, 2009 (the "Lease") by which Tenant leased from Landlord approximately 439,070 rentable square feet (the "Premises") located at 1625 Fountainhead Parkway and 1601 Fountainhead Parkway, Tempe, Arizona 85282 (the "Buildings") and that certain Work Letter Agreement executed by Landlord and Tenant dated of even date with the Lease (the "Work Letter").
B.The parties now wish to amend the Lease and the Work Letter as of the Effective Date subject to and on the terms and conditions set forth below.
AMENDMENT
1.Defined Terms. Terms in this Amendment shall have the same meaning as such terms have in the Lease and Work Letter unless otherwise noted in this Amendment.
2.Lease Amendments.
(a)The first paragraph of Section 1.1(i) is deleted in its entirety and replaced with the following:
TERM OF LEASE: The term (and rental payments) shall commence on the Commencement Date as set forth in Exhibit "G." The anticipated Commencement Date for Office A is December 1, 2011 and for Office B is July 1, 2011. The Lease shall expire at 11:59 p.m. Arizona time on the day preceding the thirteenth (13th) anniversary of the Commencement Date for Office A.
(b)The second sentence of Section 3 is deleted in its entirety and replaced with the following:
Exhibit "G" shall govern the implications of failure of the Commencement Date to occur on or before July 31, 2013.
(c)Section 33 is deleted in its entirety and replaced with the following:
Landlord and Tenant both acknowledge that this Lease is subject to and conditioned upon Landlord acquiring title to the land upon which the Project will be constructed on or before September 30, 2009. If for any reason Landlord is unable to acquire title to the land on or before September 30, 2009, this Lease shall become null and void and neither party shall have any obligation to the other with regard to this Lease.
3.Work Letter Amendments.

(a)The sixth sentence of Paragraph 3(a) of the Work Letter is deleted in its entirety and replaced with the following:
Landlord shall use commercially reasonable efforts to secure completion of all work in a timely manner so that Tenant is able to occupy the Premises in Office B on or before July 1, 2011 (the "Office B Scheduled Delivery Date") and the Premises in Office A on or before December 1, 2011 (the "Office A Scheduled Delivery Date") (each, a "Scheduled Delivery Date" and collectively, the "Scheduled Delivery Dates").
(b)The first paragraph of Paragraph 8(c) of the Work Letter is deleted in its entirety and replaced with the following:
In the event Office B is not Substantially Completed on or before August 31, 2011, Base Rent for Office B shall abate for one day for each day between September 1, 2011 and the date Office B is Substantially Complete, subject to Tenant Delay and Construction Force Majeure (either, an "Excused Delay"). In the event Office A is not Substantially Completed on or before January 31, 2012, Base Rent for Office A shall abate for one day for each day between February 1, 2012 and the date Office A is Substantially Complete, subject to Excused Delay. In addition, if the Commencement Date for the entire Premises does not occur on or before July 31, 2013, subject to Tenant Delay, Tenant may elect to terminate this Lease by delivering written notice to Landlord at any time prior to the date the Premises are Substantially Completed. Upon such termination, neither party shall have any obligation to the other with regard to the Lease or the Work Letter
4.Ratification. Landlord and Tenant each hereby reaffirm its rights and obligations under the Lease and Work Letter as modified by this Amendment. In the event of a conflict or ambiguity between the Lease or Work Letter and this Amendment, the terms and provisions of this Amendment shall control.
5.Counterparts. This Amendment may be executed in several counterparts each of which when executed and delivered is an original, but all of which together shall constitute one instrument.

2

IN WITNESS WHEREOF, Landlord and Tenant have each executed this Amendment on the dates written below their names.

LANDLORD:
US REAL ESTATE LIMITED,
PARTNERSHIP, a Texas limited 
partnership
By: /s/ James E. Loyd
Name: James E. Loyd
Title: Executive Managing Director

TENANT:
THE UNIVERSITY OF PHOENIX, INC.,
an Arizona corporation

By: /s/ William J. Swirtz
Name: William J. Swirtz
Title: President of Apollo Development and Authorized Officer
By: /s/ Brian L. Swartz
Name: Brian L. Swartz
Title: Senior VP Financial Officer and Treasurer

3Exhibit

Exhibit 10.29
SECOND AMENDMENT TO LEASE
This SECOND AMENDMENT  TO LEASE (this "Amendment")  is made this 2nd day of November, 2009 (the   "Effective Date"),   by   and   between   US   REAL   ESTATE  LIMITED PARTNERSHIP, a Texas limited partnership ("Landlord") and THE UNIVERSITY OF PHOENIX, INC., an Arizona corporation (''Tenant").
RECITALS
A.Landlord and Tenant entered into that certain Lease Agreement dated June 29, 2009, as amended by that certain First Amendment to Lease dated August 11, 2009 (collectively the "Lease") by which Tenant leased from Landlord approximately 439,070 rentable square feet (the "Premises") located at 1625 Fountainhead Parkway and 1601 Fountainhead Parkway, Tempe, Arizona 85282 (the "Buildings").
B.The parties now wish to amend the Lease as of the Effective Date subject to and on the terms and conditions set forth below.
AMENDMENT
1.Defined Terms. Terms in this Amendment shall have the same meaning as such terms have in the Lease and Work Letter unless otherwise noted in this Amendment.
2.Lease Amendments. Section 1.1(i) is deleted in its entirety and replaced with the following:
TERM OF LEASE: The term (and rental payments) shall commence on the Commencement Date as set forth in Exhibit "G." The anticipated Commencement Date for Office A is December 1, 2011 and for Office B is July 1, 2011. The Lease shall expire at 11:59 p.m. Arizona time on the day preceding the twelfth (12th) anniversary of the later of (I) the Commencement Date for Office A, and (II) the Commencement Date for Office B.
Number of Months: 144 Months from later of  the Commencement Date for Office A or Office B.
3.Ratification. Landlord and Tenant each hereby reaffirm its rights and obligations under the Lease and Work Letter as modified by this Amendment. In the event of a conflict or ambiguity between the Lease or Work Letter and this Amendment, the terms and provisions of this Amendment shall control.
4.Counterparts. This Amendment may be executed in several counterparts each of which when executed and delivered is an original, but all of which together shall constitute one instrument.

IN WITNESS WHEREOF, Landlord and Tenant have each executed this Amendment on the dates written below their names.

LANDLORD:
US REAL ESTATE LIMITED,
PARTNERSHIP, a Texas limited 
partnership
By: /s/ Bruce C. Petersen
Name: Bruce C. Petersen
Title: Executive Managing Director

TENANT:
THE UNIVERSITY OF PHOENIX, INC.,
an Arizona corporation

By: /s/ William J. Swirtz
Name: William J. Swirtz
Title: President of Apollo Development and Authorized Officer
By: /s/ Brian L. Swartz
Name: Brian L. Swartz
Title: Senior VP Financial Officer and Treasurer

2Exhibit

Exhibit 10.30
THIRD AMENDMENT TO LEASE
This THIRD AMENDMENT  TO LEASE (this "Amendment")  is made this 19th day of February, 2010 (the   "Effective Date"),   by   and   between   US   REAL   ESTATE  LIMITED PARTNERSHIP, a Texas limited partnership ("Landlord") and THE UNIVERSITY OF PHOENIX, INC., an Arizona corporation (''Tenant").
RECITALS
A.Landlord and Tenant entered into that certain Lease Agreement dated June 29, 2009, as amended by that certain First Amendment to Lease dated August 11, 2009 and that certain Second Amendment to Lease dated November 2, 2009 (as so amended, the "Lease") pursuant to which Tenant leased from Landlord approximately 439,070 rentable square feet (the "Premises") located at 1625 Fountainhead Parkway and 1601 Fountainhead Parkway, Tempe, Arizona 85282 (the "Buildings").
B.The parties now wish to amend the Lease as of the Effective Date subject to and on the terms and conditions set forth below.
AMENDMENT
1.Defined Terms. Terms in this Amendment shall have the same meaning as such terms have in the Lease and Work Letter unless otherwise noted in this Amendment.
2.Work Letter Amendment. Schedule I to the Work Letter Agreement is hereby amended, restated, and replaced in its entirety with Schedule I as set forth in Exhibit A hereto, which exhibit is hereby incorporated herein by reference.
3.Ratification. Landlord and Tenant each hereby reaffirm its rights and obligations under the Lease and Work Letter as modified by this Amendment. In the event of a conflict or ambiguity between the Lease or Work Letter and this Amendment, the terms and provisions of this Amendment shall control.
4.Counterparts. This Amendment may be executed in several counterparts each of which when executed and delivered is an original, but all of which together shall constitute one instrument.

IN WITNESS WHEREOF, Landlord and Tenant have each executed this Amendment on the dates written below their names.

LANDLORD:
US REAL ESTATE LIMITED,
PARTNERSHIP, a Texas limited 
partnership
		
	By:
	USAA Real Estate Company, a

Delaware corporation, its general
partner

By: /s/ Robert L. Sult, Jr.
Name: Robert L. Sult, Jr.
Title: Managing Director

TENANT:
THE UNIVERSITY OF PHOENIX, INC.,
an Arizona corporation

By: /s/ William J. Swirtz
Name: William J. Swirtz
Title: President of Apollo Development and Authorized Officer
By: _______________________
Name: _____________________
Title: ______________________

2

EXHIBIT A

Schedule 1

Base Building

APOLLO DEVELOPMENT REQUIREMENTS
FOR BASE BUILDING CONSTRUCTION
FOR UNIVERSITY OF PHOENIX

Landlord at its sole cost and expense shall include as part of the building shell all necessary elements and fees as part of the shell development:
		
	1.
	Complete site improvements,  including,  without  limitation,  trash  enclosures,  parking, landscaping, site grading, drainage and compaction, driveways, fire lanes, site utilities  extended into the building, site directional signage, site lighting, sidewalks, and any and all required necessary to comply with Applicable Laws, including, without limitation, all ADA requirements.

		
	2.
	A six level parking structure to accommodate approximately 1,885 cars of the approximately 2,055 cars accommodated in this development including code required handicapped spaces. The parking structure is provided with its own electrical service entrance section with an emergency generator powered from the 6-story building serving the emergency distribution switch boards for elevator and emergency lighting per code.

		
	3.
	Complete construction of the shell building, including, without limitation, the following:

		
	a.
	Complete structural system, including concrete floors at il1ld above grade;

		
	b.
	Complete exterior building skin and roofing;

		
	c.
	Complete shell building automatic fire sprinkler system with the sprinkler heads turned up;

		
	d.
	Complete operational stairs and elevators;

		
	e.
	Complete, fully operational toilet rooms at the core areas as shown in Schedule 3;

		
	f.
	All common areas including without limitation, first floor lobbies, janitorial, electrical and mechanical spaces, first floor exiting corridors, etc. Excluded from this definition  are  the Upper Floor lobby finishes, which shall be paid for out of the Tenant Finish Allowance;

		
	g.
	Building exterior entrance security system;

		
	h.
	Emergency lighting, electrical and communication systems for elevators;

		
	i.
	Fire alarm system as required by code;

		
	j.
	Electric drinking fountains at the core areas;

		
	k.
	Complete exterior window glazing system;

		
	I.
	Complete exterior wall and roof insulation system;

		
	a.
	Stairs, doors and all components of the egress system meeting or exceeding current requirements of all applicable ordinances and codes, or made to comply with Tenant's space plan at Tenant's sole expense;

		
	b.
	Complete ADA compliance;

		
	c.
	Base building should accommodate a ceiling height of 9' -0" above finished floor (A.F.F.), excepting First Floor Lobbies which shall be 10'.

		
	4.
	All agency or jurisdictional costs for permits and fees for the shell buildings, including Base building plan check and permit fees, development fees, taxes, utility hook-up costs and fees, including submittal and coordination required to obtain approvals.

		
	5.
	All architectural, engineering fees and costs, including soils engineering, civil surveys, offsite engineering, landscape architecture, traffic engineering, legal costs associated with permitting and

11152941.1

all building design engineering such as mechanical,  structural  and  electrical  engineering. Expense costs, including travel and printing associated with obtaining permits and approvals.

		
	6.
	Base Building will also include the following services, matters and improvements to the Premises as a part of Landlord's shell construction costs:

		
	a.
	Electrical: All electrical power to operate the lighting and HVAC systems including two (2) 3,000 Amp Electrical Services on the ten story building and a 3,600 Amp Electrical Service on the six story building, all at 480 / 277 volt three-phased power. Power to be distributed to electric rooms through buss duct risers with connection to power of all house panels and transformers and all major core pieces of HVAC equipment. The buildings will each be equipped with an emergency generator servicing the emergency distribution switch board. Panel boards for house power shall be located as required to provide 480/277 volt power and 120/208 volt power in panels providing circuit breakers for 20 Amp circuits and spaces for futnre 20 Amp single pole circuit breakers to meet all house power needs, Electrical power to serve tenant space shall originate from buss riser(s) in the electric room on each floor and include distribution panels, raceways, conductors, fixtnres and devices under the Tenant Improvement scope of work.

		
	b.
	Telecommunications Access: Provide all conduit raceways to the minimum point of presence (MPOP) on the first floor of each building and conduit raceways and penetrations to allow for cabling to telecommunications rooms on each floor. Furnish and install terminal mounting boards (TMBs) at each room for telecommunication punch­ down blocks and service equipment (furnished and installed by others) and provide house 120/208 power in telecommunication rooms for service equipment power needs.

		
	c.
	Heating, Ventilation and Air Conditioning (HVAC): HVAC cooling system shall consist of a separate chilled water system for  the ten  story and  the six  story  buildings. The system for each building shall include chillers, cooling towers, primary chilled water pumps, condenser water pumps and a plate and frame heat exchanger and expansion tank. Base building HVAC system includes a Variable Air Volume air handler on each floor of the office buildings with all medium and low pressure duct distribution, devices and diffusers to be provided under the Tenant Improvement  scope  of  work.  Outside air  will be provide per code via make up air units and ducted to Variable Air Volume air handlers included in the Base building, located on each floor of  each building and to the fan coils, air handlers and exhaust system serving the common areas including lobby, elevator equipment rooms, core area restrooms. System capacity will provide a system that will provide code minimum fresh air make-up and be able to maintain the space between 72 degrees Fahrenheit and 76 degrees Fahrenheit year round based on the ASHRAE Standard 62 ventilation default reqnirements for general office occupant loads of 5 per 1,000 square feet. System will permit operation at a minimum energy level and within parameters defined by the "Comfort Chart" shown in the latest  edition  of  ASHRAE Standard 55, "Thermal Environmental Conditions for Human Occupancy."

		
	7.
	Hazardous Materials. The Base Building shall be free of all Hazardous Materials when delivered for occupancy. "Hazardous Materials" shall mean any material, waste, substance, pollutant or contaminant which could pose a risk of injury or threat of health or the environment.

The Base Buildings will be constructed using a combination of pre-cast concrete panels, reflective glass, painted metal panels and clear anodized aluminum The material palette for the Base Buildings will be comprised of the following:

11152941.1

		
	1.
	Pre-Cast Concrete Panels with integral colored concrete, to match Dunn Edwards DE6242 Wells Grey LRV 43

		
	2.
	1" Insulated Glass, to match Versalux Blue 2000T Subdued Silver Reflectance

		
	3.
	Metal Panels, painted to match ATAS 70 Clear

		
	4.
	Clear Anodized Aluminum, to match Arcadia#! I/Clear AC-2.

11152941.1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00293-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00293-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00293-of-00352.parquet"}]]