Document:

Exhibit 1030

		

			Exhibit 10.30

		

		
			STANDARD FORM OF OFFICE LEASE
The Real Estate Board of New York, Inc.
		

		
			Agreement of Lease, made as of this 20th day of January in the year 2006, between J.A.B. Madison Holdings, L.L.C., a New York limited liability company, having an address at 477 Madison Avenue, New York, NY 10022 party of the first part, hereinafter referred to as OWNER, and BANKRATE, INC. a ___________ corporation having an address at 11 East 44th Street, Suite 1200, New York, NY 10017 party of the second part, hereinafter referred to as TENANT,
		

		
			Witnesseth:  Owner hereby leases to Tenant and Tenant hereby hires from Owner a portion of the Fourth (4th) floor, as more particularly shown on Exhibit A annexed hereto and made a part hereof (the “demised premises”) in the building known as 477 Madison Avenue, New York, New York (the “Building”) in the Borough of Manhattan, City of New York, for the term of ten (10) years and six (6) months (or until such term shall sooner cease and expire as hereinafter provided) to commence on the _____ day of _________________ in the year Commencement Date, and to end on the _____ day of _________________ in the year Expiration Date (as such terms are herein defined) and both dates inclusive, at an annual rental rate of as set forth in Article 37 hereof which Tenant agrees to pay in lawful money of the United States, which shall be legal tender in payment of all debts and dues, public and private, at the time of payment, in equal monthly installments in advance on the first day of each month during said term, at the office of Owner or such other place as Owner may designate, without any setoff or deduction whatsoever, except that Tenant shall pay the first ______ monthly installment(s) on the execution hereof [INSERT A.] (unless this lease be a renewal).
		

		
			In the event that, at the commencement of the term of this lease, or thereafter, Tenant shall be in default in the payment of rent to Owner pursuant to the terms of another lease with Owner or with Owner’s predecessor in interest, Owner may at Owner’s option and without notice to Tenant add the amount of such arrears to any monthly installment of rent payable hereunder and the same shall be payable to Owner as additional rent.
		

		
			The parties hereto, for themselves, their heirs, distributees, executors, administrators, legal representatives, successors and assigns, hereby covenant as follows:
		

		
			 
		

		 

		

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			Exhibit 10.30

		

			
					
						Rent:1)  Tenant shall pay the rent as above and as hereinafter provided.

				
	
					
						Occupancy:2)  Tenant shall use and occupy the demised premises for executive and administrative offices and for no other purpose.

				
	
					
						Tenant Alterations:

					
					
						3)  Tenant shall make no changes in or to the demised premises of any nature without Owner’s prior written consent. 

				

		 

		

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						Subject to the prior written consent of Owner, and to the provisions of this article, Tenant, at Tenant’s expense, may make alterations, installations, additions or improvements which are non-structural and which do not affect utility services or plumbing and electrical lines, in or to the interior of the demised premises [INSERT 1] by using contractors or mechanics first approved in each instance by Owner.  Tenant shall, before making any alterations, additions, installations or improvements at its expense, obtain all permits, approvals and certificates required by any governmental or quasi-governmental bodies and (upon completion) certify- of final approval thereof, and shall deliver promptly duplicates of all such permits, approvals and certificates to Owner, and Tenant agrees to carry, and will cause Tenant’s contractors and sub-contractors to carry, such worker’s compensation, general liability, personal and property damage insurance as Owner may [INSERT 2] require. If any mechanic’s lien is filed against the demised premises, or the building of which the same forms a part, for work claimed to have been done for, or materials furnished to, Tenant, whether or not done pursuant to this article, the same shall be discharged by Tenant within thirty days thereafter, at Tenant’s expense, by payment or filing a bond as permitted by law.  All fixtures and all paneling, partitions, railings and like installations, installed in the demised premises at any time, either by Tenant or by Owner on Tenant’s behalf, shall, upon installation, become the property of Owner and shall remain upon and be surrendered with the demised premises unless Owner, by notice to Tenant no later than twenty days prior to the date fixed as the termination of this lease, elects to relinquish Owner’s right thereto and to have them removed by Tenant, in which event the same shall be removed from the demised premises by Tenant prior to the expiration of the lease at Tenant’s expense. [INSERT 3] Nothing in this article shall be construed to give Owner title to, or to prevent Tenant’s removal of, trade fixtures, moveable office furniture and equipment, but upon removal of same from the demised premises or upon removal, of other installations as may be required by Owner, Tenant shall immediately, and at its expense, repair and restore the demised premises to the condition existing prior to any such installations, and repair any damage to the  demised premises or the building, due to such removal. All property permitted or required to be removed by Tenant at the end of the term remaining in the demised premises after Tenant’s removal shall be deemed abandoned and may, at the election of Owner, either be retained as Owner’s property or may be removed from the demised premises by Owner, at Tenant’s expense.

				
	
					
						Maintenance
and
Repairs:

					
					
						4)  Tenant shall, throughout the term of this lease, take good care of the demised premises and the fixtures and appurtenances therein.  Tenant shall be 

				

		 

		

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						responsible for all damage or injury to the demised premises or any other part of the building and the systems and equipment thereof, whether requiring structural or non-structural repairs caused by, or resulting from, carelessness, omission, neglect or improper conduct of Tenant, Tenant’s subtenants, agents, employees, invitees or licensees, or which arise out of any work, labor, service or equipment done for, or supplied to, Tenant or any subtenant, or arising out of the installation, use or operation of the property or equipment of Tenant or any subtenant.  Tenant shall also repair all damage to the building and the demised premises caused by the moving of Tenant’s fixtures, furniture and equipment.  Tenant shall promptly make, at Tenant’s expense, all repairs in and to the demised premises for which Tenant is responsible, using only the contractor for the trade or trades in question, selected from a list of at least two contractors per trade submitted by Owner [INSERT 4].  Any other repairs in or to the building or the facilities and systems thereof, for which Tenant is responsible, shall be performed by Owner at the Tenant’s expense.  Owner shall maintain in good working order and repair the exterior and the structural portions of the building, including the structural portions of the demised premises, and the public portions of the building interior and the building plumbing, electrical, heating, and ventilating systems (to the extent such systems presently exist) serving the demised premises.  Tenant agrees to give prompt notice of any defective condition in the demised premises for which Owner may be responsible hereunder.  There shall be no allowance to Tenant for diminution of rental value and no liability on the part of Owner by reason of inconvenience, annoyance or injury to business arising from Owner or others making repairs, alterations, additions or improvements in or to any portion of the building or the demised premises, or in and to the fixtures, appurtenances or equipment thereof.  It is specifically agreed that Tenant shall not be entitled to any setoff or reduction of rent by reason of any failure of Owner to comply with the covenants of this or any other article of this lease.  Tenant agrees that Tenant’s sole remedy at law in such instance will be by way of an action for damages for breach of contract.  The provisions of this Article 4 shall not apply in the case of fire or other casualty, which are dealt with in Article 9 hereof.

				
	
					
						Window
Cleaning:

					
					
						5)  Tenant will not clean nor require, permit, suffer or allow any window in the demised premises to be cleaned from the outside in violation of Section

				
	
					
						202 of the Labor Law or any other applicable law, or of the Rules of the Board of Standards and Appeals, or of any other Board or body having or asserting jurisdiction.

				
	
					
						Requirements
of Law,
Fire Insurance,
Floor Loads:

					
					
						6)  Prior to the commencement of the lease term, if Tenant is then in possession, and at all times thereafter, Tenant, at Tenant’s sole cost and expense, shall promptly comply with all present and future laws, orders and 

				

		 

		

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						regulations of all state, federal, municipal and local governments, departments, commissions and boards and any direction of any public officer pursuant to law, and all orders, rules and regulations of the New York Board of Fire Underwriters, Insurance Services Office, or any similar body which shall impose any violation, order or duty upon Owner or Tenant with respect to the demised premises [INSERT 5] whether or not arising out of Tenant’s use or manner of use thereof, (including Tenant’s permitted use) or, with respect to the building if arising out of Tenant’s use or manner of use of the demised premises or the building (including the use permitted under the lease). Nothing herein shall require Tenant to make structural repairs or alterations unless Tenant has, by its manner of use of the demised premises or method of operation therein, violated any such laws, ordinances, orders, rules, regulations or requirements with respect thereto.  Tenant may, after securing Owner to Owner’s satisfaction against all damages, interest, penalties and expenses, including, but not limited to, reasonable attorneys’ fees, by cash deposit or by surety bond in an amount and in a company satisfactory to Owner, contest and appeal any such laws, ordinances, orders, rules, regulations or requirements provided same is done with all reasonable promptness and provided such appeal shall not subject Owner to prosecution for a criminal offense, or constitute a default under any lease or mortgage under which Owner may be obligated, or cause the demised premises or any part thereof to be condemned or vacated. Tenant shall not do or permit any act or thing to be done in or to the demised premises which is contrary to law, or which will invalidate or be in conflict with public liability, fire or other policies of insurance at any time carried by or for the benefit of Owner with respect to the demised premises or the building of which the demised premises form a part, or which shall or might subject Owner to any liability or responsibility to any person, or for property damage.  Tenant shall not keep anything in the demised premises, except as now or hereafter permitted by the Fire Department, Board of Fire Underwriters, Fire Insurance Rating Organization or other  authority having jurisdiction, and then only in such manner and such quantity so as not to increase the rate for fire insurance applicable to the building, nor use the demised premises in a manner which will increase the insurance rate for the building or any property located therein over that in [INSERT 6] effect prior to the commencement of Tenant’s occupancy. Tenant shall pay all costs, expenses, fines, penalties, or damages, which may be imposed upon Owner by reason of Tenant’s failure to comply with the provisions of this article, and if by reason of such failure the fire insurance rate shall, at the beginning of this lease, or at any time thereafter, be higher than it otherwise would be, then, Tenant shall reimburse Owner, as additional rent hereunder, for that portion of all fire insurance premiums thereafter paid by Owner which shall have been charged because of such failure by Tenant. In any action or proceeding wherein Owner and Tenant are parties, a schedule or “make-up” of rate for the building or the demised premises issued by the New York Fire Insurance Exchange, or other body making fire insurance rates applicable to said premises shall be conclusive evidence of the facts therein stated and of the several items and charges in the fire insurance rates then applicable to said premises.  Tenant shall not place a load upon any floor of the demised premises exceeding the floor load per square foot area which it was designed to carry and which is allowed by law.  Owner reserves the right to prescribe the weight and position of all safes, business machines and mechanical equipment.  Such installations shall be placed and maintained by Tenant, at Tenant’s expense, in settings sufficient, in Owner’s judgment, to absorb and prevent vibration, noise and annoyance.

				

		 

		

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						Subordination:7)  This lease is subject and subordinate to all ground or underlying leases and to all mortgages which may now or hereafter affect such leases or the real property of which the demised premises are a part, and to all renewals, modifications, consolidations, replacements and extensions of any such underlying leases and mortgages.  This clause shall be self-operative and no further instrument of subordination shall be required by any ground or underlying lessor or by any mortgagee, affecting any lease or the real property of which the demised premises are a part.  In confirmation of such subordination, Tenant shall from time to time execute promptly any certificate that Owner may request.

				
	
					
						Property
Loss, Damage
Reimbursement
Indemnity:

					
					
						8)  Owner or its agents shall not be liable for any damage to property of Tenant or of others entrusted to employees of the building, nor for loss of or damage to any property of 

				
	
					
						Tenant by theft or otherwise, nor for any injury or damage to persons or property resulting from any cause of whatsoever nature, unless caused by, or due to, the negligence of Owner, its agents, servants or employees.  Owner or its agents will not be liable for any such damage caused by other tenants or persons in, upon or about said building, or caused by operations in construction of any private, public or quasi public work.  If at any time any windows of the demised premises are temporarily closed, darkened or bricked up (or permanently closed, darkened or bricked up, if required by law) for any reason whatsoever including, but not limited to, Owner’s own acts, Owner shall not be liable for any damage Tenant may sustain thereby, and Tenant shall not be entitled to any compensation therefor, nor abatement or diminution of rent, Fan eviction.  Tenant shall indemnify and save harmless Owner against and from all liabilities, obligations, damages, penalties, claims, costs and expenses for which Owner shall not be reimbursed by insurance, including reasonable attorneys’ fees, paid, suffered or incurred as a result of any breach by Tenant, Tenant’s agents, contractors, employees, invitees, or licensees, of any covenant or condition of this lease, or the carelessness, negligence or improper conduct of the Tenant, Tenant’s agents, contractors, employees, invitees or licensees. Tenant’s liability under this lease extends to the acts and omissions of any subtenant, and any agent, contractor, employee, invitee or licensee of any subtenant.  In case any action or proceeding is brought against Owner by reason of any such claim, Tenant, upon written notice from Owner, will, at Tenant’s expense, resist or defend such action or proceeding by counsel approved by Owner in writing, such approval not be unreasonably withheld.

				
	
					
						Destruction,
Fire and Other
Casualty:

					
					
						9)  (a) If the demised premises of any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Owner, and 

				

		 

		

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						this lease shall continue in full force and effect except as hereinafter set forth.  (b) If the demised premises are partially damaged or rendered partially unusable by fire or other casualty, the damages thereto shall be repaired by, and at the expense of, Owner, and the rent and other items of additional rent, until such repair shall be substantially completed, shall be apportioned from the day following the casualty, according to the part of the demised premises which is usable.  (c) If the demised premises are totally damaged or rendered wholly unusable by fire or other casualty, then the rent and other items of additional rent, as hereinafter expressly provided, shall be proportionately paid up to the time of the casualty, and thenceforth shall cease until the date when the demised premises shall have been repaired and restored by Owner (or if sooner reoccupied in part by Tenant then rent shall be apportioned as provided in subsection (b) above), subject to Owner’s right to elect not to restore the same as hereinafter provided. (d) If the demised premises are rendered wholly unusable or (whether or not the demised premises are damaged in whole or in part) if the building shall be so damaged that Owner shall decide to demolish it or to rebuild it, then, in any of such events, Owner may elect to terminate this lease by written notice to Tenant, given within ninety (90) days after such fire or casualty, or thirty (30) days after adjustment of the insurance claim for such fire or casualty, whichever is sooner, specifying a date for the expiration of the lease, which date shall not be more than sixty (60) days after the giving of such notice, and upon the date specified in such notice the term of this lease shall expire as fully and completely as if such date were the date set forth above for the termination of this lease, and Tenant shall forthwith quit, surrender and vacate the demised premises without prejudice however, to Landlord’s [INSERT 7] rights and remedies against Tenant under the lease provisions in effect prior to such termination, and any rent owing shall be paid up to such date, and any payments of rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Owner shall serve a termination notice as provided for herein, Owner shall make the repairs and restorations under the conditions of (b) and (c) hereof, with all reasonable expedition, subject to delays due to adjustment of insurance claims, labor troubles and causes beyond Owner’s control.  After any such casualty, Tenant shall cooperate with Owner’s restoration by removing from the demised premises as promptly as reasonably possible, all of Tenant’s salvageable inventory and moveable equipment, furniture, and other property.  Tenant’s liability for rent shall resume five (5) days after written notice from Owner that the demised premises are substantially ready for Tenant’s occupancy. [INSERT 8] (e) Nothing contained hereinabove shall relieve Tenant from liability that may exist as a result of damage from fire or other casualty.  Notwithstanding the foregoing, including Owner’s obligation to restore under subparagraph (e) above, each party shall look first to any insurance in its favor before making any claim against the other party for recovery for loss or damage resulting from fire or other casualty, and to the extent that such insurance is in force and collectible, and to the extent permitted by law, Owner and Tenant each hereby releases and waives all right of recovery with respect to subparagraphs (b), (d), and (e) above, against the other or any one claiming through or under each of them by way of subrogation or otherwise. The release and waiver herein referred to shall be deemed to include any loss or damage to the demised premises and/or to any personal property, equipment, trade fixtures, goods and merchandise located therein.  The foregoing release and waiver shall be in force only if both releasors’ insurance policies contain a clause providing that such a release or waiver shall not invalidate the insurance.  If, and to the extent, that such waiver can be obtained only by the payment of additional premiums, then the party benefiting from the waiver shall pay such premium within ten days after written demand or shall be deemed to have agreed that the party obtaining insurance coverage shall be free of any further obligation under the provisions hereof with respect to waiver of subrogation.  Tenant acknowledges that Owner will not carry insurance on Tenant’s furniture and/or furnishings or any fixtures or equipment, improvements, or appurtenances [INSERT 9] removable by Tenant, and agrees that Owner will not be obligated to repair any damage thereto or replace the same.  (f) Tenant hereby waives the provisions of Section 227 of the Real Property Law and agrees that the provisions of this article shall govern and control in lieu thereof.

				

		 

		

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						Eminent Domain:10)  If the whole or any part of the demised premises shall be acquired or condemned by Eminent Domain for any public or quasi public use or purpose, then, and in that event, the term of this lease shall cease and terminate from the date of title vesting in such proceeding, and Tenant shall have no claim for the value of any unexpired term of said lease, and assigns to Owner, Tenant’s entire interest in any such award.  Tenant shall have the right to make an independent claim to the condemning authority for the value of Tenant’s moving expenses and personal property, trade fixtures and equipment, provided Tenant is entitled pursuant to the terms of the lease to remove such property, trade fixture and equipment at the end of the term, and provided further such claim does not reduce Owner’s award.

				
	
					
						Assignment,
Mortgage,
Etc.:

					
					
						11)  Tenant, for itself, its heirs, distributees, executors, administrators, legal representatives, successors and assigns, expressly covenants that it shall 

				
	
					
						shall not assign, mortgage or encumber this agreement, nor underlet, or suffer or permit the demised premises or any part thereof to be used by others, without the prior written consent of Owner in each instance.  Transfer of the majority of the stock of a corporate Tenant or the majority partnership interest of a partnership Tenant shall be deemed an assignment.  If this lease be assigned, or if the demised premises or any part thereof be underlet or occupied by anybody other than Tenant, Owner may, after default by Tenant, collect rent from the assignee, undertenant or occupant, and apply the net amount collected to the rent herein reserved, but no such assignment, underletting, occupancy or collection shall be deemed a waiver of this covenant, or the acceptance of the assignee, undertenant or occupant as tenant, or a release of Tenant from the further performance by Tenant of covenants on the part of Tenant herein contained. The consent by Owner to an assignment or underletting shall not in any wise be construed to relieve Tenant from obtaining the express consent in writing of Owner to any further assignment or underletting.

				
	
					
						Electric Current:12)  Rates and conditions in respect to submetering or rent inclusion, as the case may be, to be added in RIDER attached hereto.  Tenant covenants and agrees that at all times its use of electric current shall not exceed the capacity of existing feeders to the building or the risers or wiring installation, and Tenant may not use any electrical equipment which, in Owner’s opinion, reasonably exercised, will overload such installations or interfere with the use thereof by other tenants of the building.  The change at any time of the character of electric service shall in no wise make Owner liable or responsible to Tenant, for any loss, damages or expenses which Tenant may sustain.

				
	
					
						Access to
Premises:

					
					
						13)  Owner or Owner’s agents shall have the right (but shall not be obligated) to enter the demised premises in any emergency at any time,

				

		 

		

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						and, at other reasonable times, to examine the same and to make such repairs, replacements and improvements as Owner may deem necessary and reasonably desirable to the demised premises or to any other portion of the building or which Owner may elect to perform.  Tenant shall permit Owner to use and maintain and replace pipes and conduits in and through the demised premises and to erect new pipes and conduits therein, provided they are concealed within the walls, floor, or ceiling.  Owner may, during the progress of any work in the demised premises, take all necessary materials and equipment into said premises without the same constituting an eviction, nor shall the Tenant be entitled to any abatement of rent while such work is in progress, nor to any damages by reason of loss or interruption of business or otherwise. [INSERT 10] Throughout the term hereof, Owner shall have the right to enter the demised premises at reasonable hours [INSERT 11] for the purpose of showing the same to prospective purchasers or mortgagees of the building, and during the last six months of the term, for the purpose of showing the same to prospective tenants.  If Tenant is not present to open and permit an entry into the demised premises, Owner or Owner’s agents may enter the same whenever such entry may be necessary or permissible by master key or forcibly [INSERT 12] and provided reasonable care is exercised to safeguard Tenant’s property, such entry shall not render Owner or its agents liable therefor, nor in any event shall the obligations of Tenant hereunder be affected.  If during the last month of the term Tenant shall have removed all or substantially all of Tenant’s property therefrom, Owner may immediately enter, alter, renovate or redecorate the demised premises without limitation or abatement of rent, or incurring liability to Tenant for any compensation, and such act shall have no effect on this lease or Tenant’s obligations hereunder.

				
	
					
						Vault, Vault
Space, Area:

					
					
						14)  No vaults, vault space or area, whether or not enclosed or covered, not within the property line of the building, 

				
	
					
						is leased hereunder, anything contained in or indicated on any sketch, blue print or plan, or anything contained elsewhere in this lease to the contrary notwithstanding.  Owner makes no representation as to the location of the property line of the building.  All vaults and vault space and all such areas not within the property line of the building, which Tenant may be permitted to use and/or occupy, is to be used and/or occupied under a revocable license, and if any such license be revoked, or if the amount of such space or area be diminished or required by any federal, state or municipal authority or public utility, Owner shall not be subject to any liability, nor shall Tenant be entitled to any compensation or diminution or abatement of rent, nor shall such revocation, diminution or requisition be deemed constructive or actual eviction.  Any tax, fee or charge of municipal authorities for such vault or area shall be paid by Tenant.

				

		 

		

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						Occupancy:15)  Tenant will not at any time use or occupy the demised premises in violation of the certificate of occupancy issued for the building of which the demised premises are a part. [INSERT 13] Tenant has inspected the demised premises and accepts them as is, subject to the riders annexed hereto with respect to Owner’s work, if any.  In any vent, Owner makes no representation as to the condition of the demised premises, and Tenant agrees to accept the same subject to violations, whether or not of record.

				
	
					
						Bankruptcy:16)  (a)  Anything elsewhere in this lease to the contrary notwithstanding, this lease may be cancelled by Owner by the sending of a written notice to Tenant within a reasonable time after the happening of any one or more of the following events:  (1) the commencement of a case in bankruptcy or under the laws of any state naming Tenant as the debtor; or (2) the making by Tenant of an assignment or any other arrangement for the benefit of creditors under any state statute.  Neither Tenant nor any person claiming through or under Tenant, or by reason of any statute or order of court, shall thereafter be entitled to possession of the premises demised but shall forthwith quit and surrender the demised premises.  If this lease shall be assigned in accordance with its terms, the provisions of this Article 16 shall be applicable only to the party then owning Tenant’s interest in this lease.

					
						(b)  it is stipulated and agreed that in the event of the termination of this lease pursuant to (a) hereof, Owner shall forthwith, notwithstanding any other provisions of this lease to the contrary, be entitled to recover from Tenant as and for liquidated damages, an amount equal to the difference between the rent reserved hereunder for the unexpired portion of the term demised and the fair and reasonable rental value of the demised premises for the same period.  In the computation of such damages the difference between any installment of rent becoming due hereunder after the date of termination, and the fair and reasonable rental value of the demised premises for the period for which such installment was payable, shall be discounted to the date of termination at the rate of four percent (4%) per annum.  If such demised premises or any part thereof be re-let by the Owner for the unexpired term of said lease, or any part thereof, before presentation of proof of such liquidated damages to any court, commission or tribunal, the amount of rent reserved upon such re-letting shall be deemed to be the fair and reasonable rental value for the part or the whole of the demised premises so re-let during the term of the re-letting.  Nothing herein contained shall limit or prejudice the right of the Owner to prove for and obtain as liquidated damages, by reason of such termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to, or less than, the amount of the difference referred to above.

				

		 

		

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						Default:17)  (1) If Tenant defaults in fulfilling any of the covenants of this lease other than [INSERT 14] the covenants for the payment of rent or additional rent; or if the demised premises become vacant or deserted; or if any execution or attachment shall be issued against Tenant or any of Tenant’s property, whereupon the demised premises shall be taken or occupied by someone other than Tenant; or if this lease be rejected under §365 of Title 11 of the U.S. Code (Bankruptcy Code); or if Tenant shall fail to move into or take possession of the demised premises within thirty (30) days after the commencement of the term of this lease,  then, in any one or more of such events, upon Owner serving a written fifteen (15) days notice upon Tenant specifying the nature of said default, and upon the expiration of [INSERT 15] said fifteen (15) days, if Tenant shall have failed to comply with or remedy such default, or if the said default or omission complained of shall be of a nature that the same cannot be completely cured or remedied within said fifteen (15) day period [INSERT 16], and if Tenant shall not have diligently commenced curing such default within such fifteen (15) day period, and shall not thereafter with reasonable diligence and in good faith, proceed to remedy or cure such default, then Owner may serve a written five (5) days notice of cancellation of this lease upon Tenant, and upon the expiration of said five (5) days this lease and the term thereunder shall end and expire as fully and completely as if the expiration of such five (5) day period were the day herein definitely fixed for the end and expiration of this lease and the term thereof, and Tenant shall then quit and surrender the demised premises to Owner, but Tenant shall remain liable as hereinafter provided.

					
						(2) If the notice provided for in (1) hereof shall have been given, and the term shall expire as aforesaid; or if Tenant shall make default in the payment of the rent reserved herein, or any item of additional rent herein mentioned, or any part of either, or in making any other payment herein required; then, and in any of such events, Owner may without notice, re-enter the demised premises either by force or otherwise, and dispossess Tenant by summary proceedings or otherwise, and the legal representative of Tenant or other occupant of the demised premises, and remove their effects and hold the demised premises as if this lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end.  If Tenant shall make default hereunder prior to the date fixed as the commencement of any renewal or extension of this lease, Owner may cancel and terminate such renewal or extension agreement by written notice.

				
	
					
						Remedies of
Owner and
Waiver of
Redemption:

					
					
						18)  In case of any such default, re-entry, expiration and/or dispossess by summary proceedings or otherwise, (a) the rent shall become due thereupon and be paid up to the time of 

				

		 

		

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						of such re-entry, dispossess and/or expiration, (b) Owner may re-let the demised premises or any parts thereof, either in the name of Owner or otherwise, for a term or terms, which mat at Owner’s option be less than or exceed the period which would otherwise have constituted the balance of the term of this lease, and may grant concessions or free rent or charge a higher rental than that in this lease, and/or (c) Tenant or the legal representatives of Tenant shall also pay to Owner as liquidated damages for the failure of Tenant to observe and perform said Tenant’s covenants herein contained, any deficiency between the rent hereby reserved and/or covenanted to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the demised premises for each month of the period which would otherwise have constituted the balance of the term of this lease.  The failure of Owner to re-let the demised premises, or any part or parts thereof, shall not release or affect Tenant’s liability for damages.  In computing such liquidated damages there shall be added to the said deficiency such expenses as Owner may incur in connection with re-letting, such as legal expenses, reasonable attorneys’ fees, brokerage, advertising and for keeping the demised premises in good order or for preparing the same for re-letting.  Any such liquidated damages shall be paid in monthly installments by Tenant on the rent day specified in this lease, and any suit brought to collect the amount of the deficiency for any month shall not prejudice in any way the rights of Owner to collect the deficiency for any subsequent month by a similar proceeding.  Owner, in putting the demised premises in good order or preparing the same for re-rental may, at Owner’s option, make such alterations, repairs, replacements, and/or decorations in the demised premises as Owner, in Owner’s sole judgement, considers advisable and necessary for the purpose of re-letting the demised premises, and the making of such alterations, repairs, replacements, and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid.  Owner shall in no event be liable in any way whatsoever for failure to re-let the demised premises, or in the event that the demised premises are re-let, for failure to collect the rent thereof under such re-letting, and in no event shall Tenant be entitled to receive any excess, if any, of such net rents collected over the sums payable by Tenant to Owner hereunder.  In the event of a breach or threatened breach by Tenant or any of the covenants or provisions hereof, Owner shall have the right of injunction and the right to invoke any remedy allowed at law or in equity as if re-entry, summary proceedings and other remedies were not herein provided for.  Mention in this lease of any particular remedy, shall not preclude Owner from any other remedy, in law or in equity.  Tenant hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Tenant being evicted or dispossessed for any cause, or in the event of Owner obtaining possession of the demised premises, by reason of the violation by Tenant of any of the covenants and conditions of this lease, or otherwise.

				
	
					
						Fees and
Expenses:

					
					
						19)  If Tenant shall default in the observance or performance of any term 

				

		 

		

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						or covenant on Tenant’s part to be observed or performed under, or by virtue of, any of the terms or provisions in any article of this lease, after notice, if required, and upon expiration of any applicable grace period, if any, (except in an emergency), then, unless otherwise provided elsewhere in this lease, Owner may immediately, or at any time thereafter and without notice, perform the obligation of Tenant thereunder.  If Owner, in connection with the foregoing, or in connection with any default by Tenant in the covenant to pay rent hereunder, makes any expenditures or incurs any obligations for the payment of money, including but not limited to reasonable attorneys’ fees, in instituting, prosecuting or defending any action or proceeding, and prevails in any such action or proceeding, then Tenant will reimburse Owner for such sums so paid, or obligations incurred, with interest and costs.  The foregoing expenses incurred by reason of Tenant’s default shall be deemed to be additional rent hereunder, and shall be paid by Tenant to Owner within ten (10) days of rendition of any bill or statement to Tenant therefor.  If Tenant’s lease term shall have expired at the time of making such expenditures or incurring of such obligations, such sums shall be recoverable by Owner, as damages.

				
	
					
						Building
Alterations
and
Management:

					
					
						20)  Owner shall have the right at any time without the same constituting an eviction and without incurring liability to Tenant therefor, to change the arrangement and / or location of public 

				
	
					
						entrances, passageways, doors, doorways, corridors, elevators, stairs, toilets or other public parts of the building, and to change the name, number or designation by which the building may be known.  There shall be no allowance to Tenant for diminution of rental value and no liability on the part of Owner by reason of inconvenience, annoyance or injury to business arising from Owner or other Tenants making any repairs in the building or any such alterations, additions and improvements.  Furthermore, Tenant shall not have any claim against Owner by reason of Owner’s imposition of such controls of the manner of access to the building by Tenant’s social or business visitors as the Owner may deem necessary for the security of the building and its occupants.

				
	
					
						No
Representations
Owner:

					
					
						21)  Neither Owner nor Owner’s agents have made any representations or promises with respect to the by physical condition of the building, the 

				

		 

		

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						land upon which it is erected or the demised premises, the rents, leases, expenses of operation or any other matter or thing affecting or related to the demised premises, except as herein expressly set forth, and no rights, easements or licenses are acquired by Tenant by implication or otherwise, except as expressly set forth in the provisions of this lease.  Tenant has inspected the building and the demised premises and is thoroughly acquainted with their condition and agrees to take the same “as is”, and acknowledges that the taking of possession of the demised premises by Tenant shall be conclusive evidence that the said premises and the building of which the same form a part were in good and satisfactory condition at the time such possession was so taken, except as to latent defects.  All understandings and agreements heretofore made between the parties hereto are merged in this contract, which alone fully and completely expresses the agreement between Owner and Tenant, and any executory agreement hereafter made shall be ineffective to change, modify, discharge or effect an abandonment of it in whole or in part, unless such executory agreement is in writing and signed by the party against whom enforcement of the change, modification, discharge or abandonment is sought.

				
	
					
						End of Term:22)  Upon the expiration or other termination of the term of this lease, Tenant shall quit and surrender to Owner the demised premises, “broom-clean”, in good order and condition, ordinary wear and damages which Tenant is not required to repair as provided elsewhere in this lease excepted, and Tenant shall remove all its property.  Tenant’s obligation to observe or perform this covenant shall survive the expiration or other termination of this lease.  If the last day of the term of this lease or any renewal thereof, falls on Sunday, this lease shall expire at noon on the preceding Saturday, unless it be a legal holiday, in which case it shall expire at noon on the preceding business day.

				
	
					
						Quiet Enjoyment:23)  Owner covenants and agrees with Tenant that upon Tenant paying the rent and additional rent and observing and performing all the terms, covenants and conditions, on Tenant’s part to be observed and performed, Tenant may peaceably and quietly enjoy the premises hereby demised, subject, nevertheless, to the terms and conditions of this lease including, but not limited to, Article 31 hereof and to the ground leases, underlying leases and mortgages hereinbefore mentioned.

				
	
					
						Failure to Give
Possession:

					
					
						24)  If Owner is unable to give possession of the demised premises on the date of  the commencement  of  the

				

		 

		

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						term hereof because of the holding-over or retention of possession of any tenant, undertenant or occupants, or if the demised premises are located in a building being constructed, because such building has not been sufficiently completed to make the demised premises ready for occupancy, or because of the fact that a certificate of occupancy has not been procured, or for any other reason, Owner shall not be subject to any liability for failure to give possession on said date and the validity of the lease shall not be impaired under such circumstances, nor shall the same be construed in any wise to extend the term of this lease, but the rent payable hereunder shall be abated (provided Tenant is not responsible for Owner’s inability to obtain possession or complete construction) until after Owner shall have given Tenant written notice that the Owner is able to deliver possession in condition required by this lease. If permission is given to Tenant to enter into possession of the demised premises, or to occupy premises other than the demised premises, prior to the date specified as the commencement of the term of this lease, Tenant covenants and agrees that such possession and/or occupancy shall be deemed to be under all terms, covenants, conditions and provisions of this lease, except the obligation to pay the fixed annual rent set forth in the preamble to this lease.  The provisions of this article are intended to constitute “an express provision to the contrary” within the meaning of Section 223-a of the New York Real Property Law.

				
	
					
						No Waiver:25)  The failure of Owner to seek redress for violation of, or to insist upon the strict performance of, any covenant or condition of this lease or of any of the Rules or Regulations set forth or hereafter adopted by Owner, shall not prevent a subsequent act which would have originally constituted a violation from having all the force and effect of an original violation.  The receipt by Owner of rent and/or additional rent with knowledge of the breach of any covenant of this lease shall not be deemed a waiver of such breach, and no provision of this lease shall be deemed to have been waived by Owner unless such waiver be in writing signed by Owner.  No payment by Tenant or receipt by Owner of a lesser amount than the monthly rent herein stipulated shall be deemed to be other than on account of the earliest stipulated rent, nor shall any endorsement or statement of any check or any letter accompanying any check or payment as rent be deemed an accord and satisfaction, and Owner may accept such check or payment without prejudice to Owner’s right to recover the balance of such rent or pursue any other remedy in this lease provided.  No act or thing done by Owner or Owner’s agents during the term hereby demised shall be deemed an acceptance of a surrender of the demised premises and no agreement to accept such surrender shall be valid unless in writing signed by Owner.  No employee of Owner or Owner’s agent shall have any power to accept the keys of said premises prior to the termination of the lease, and the delivery of keys to any such agent or employee shall not operate as a termination of the lease or a surrender of the demised premises.

				

		 

		

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						Waiver of Trial
by Jury:

					
					
						26)  It is mutually agreed by and between Owner and Tenant that the respective parties hereto shall, and they 

				
	
					
						hereby do, waive trial by jury in any action proceeding or counterclaim brought by either of the parties hereto against the other (except for personal injury or property damage) on any matters whatsoever arising out of, or in any way connected with, this lease, the relationship of Owner and Tenant, Tenant’s use of, or occupancy of, the demised premises, and any emergency statutory or any other statutory remedy. It is further mutually agreed that in the event Owner commences any proceeding or action for possession, including a summary proceeding for possession of the demised premises, Tenant will not interpose any counterclaim of whatever nature or description in any such proceeding, including a counterclaim under Article 4, except for statutory mandatory counterclaims.

				
	
					
						Inability to Perform:

					
					
						27)  This lease and the obligation of Tenant to pay rent hereunder and perform all of the other covenants and 

				
	
					
						agreements hereunder on part of Tenant to be performed shall in no wise be affected, impaired or excused because Owner is unable to fulfill any of its obligations under this lease, or to supply, or is delayed in supplying, any service expressly or impliedly to be supplied, or is unable to make, or is delayed in making, any repair, additions, alterations, or decorations, or is unable to supply, or is delayed in supplying, any equipment, fixtures or other materials, if Owner is prevented or delayed from so doing by reason of strike or labor troubles or any cause whatsoever including, but not limited to, government preemption or restrictions, or by reason of any rule, order or regulation of any department or subdivision thereof of any government agency, or by reason of the conditions which have been or are affected, either directly or indirectly, by war or other emergency.

				
	
					
						Bills and
Notices:

					
					
						28)  Except as otherwise in this lease provided, a bill, statement, notice or communication which Owner may desire or be required to give  to Tenant,

				
	
					
						shall be deemed sufficiently given or rendered if, in writing, delivered to Tenant personally or sent by registered or certified mail addressed to Tenant at the building of which the demised premises form a part, or at the last known residence address or business address of Tenant, or left at any of the aforesaid premises addressed to Tenant, and the time of the rendition of such bill or statement and of the giving of such notice or communication shall be deemed to be the time when the same is delivered to Tenant, mailed, or left at the premises as herein provided. [INSERT 17] Any notice by Tenant to Owner must be served by registered or certified mail addressed to Owner at the address first hereinabove given or at such other address as Owner shall designate by written notice.

				
	
					
						Services
Provided by
Owners:

					
					
						29)  As long as Tenant is not in default under any of the covenants of this lease beyond the applicable grace period provided in this lease for the  curing of

				

		 

		

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						such defaults, Owner shall provide: (a) necessary elevator facilities on business days from 8 a.m. to 6 p.m. and have one elevator subject to call at all other times; (b) heat to the demised premises when and as required by law, on business days from 8 a.m. to 6 p.m.; (c) water for ordinary lavatory purposes, but if Tenant uses or consumes water for any other purposes or in unusual quantities (of which fact Owner shall be the sole judge), Owner may install a water meter at Tenant’s expense, which Tenant shall thereafter maintain at Tenant’s expense in good working order and repair, to register such water consumption, and Tenant shall pay for water consumed as shown on said meter as additional rent as and when bills are rendered; (d) cleaning service [INSERT 18] for the demised premises on business days at Owner’s expense provided that the same are kept in order by Tenant. If, however, said premises are to be kept clean by Tenant, it shall be done at Tenant’s sole expense, in a manner reasonably satisfactory to Owner, and no one other than persons approved by Owner shall be permitted to enter said premises or the building of which they are a part for such purpose.  Tenant shall pay Owner the cost of removal of any of Tenant’s refuse and rubbish from the building; (e) if the demised premises are serviced by Owner’s air conditioning/cooling and ventilating system, air conditioning/cooling will be furnished to Tenant from May 15th through September 30th on business days (Mondays through Fridays, holidays excepted) from 8:00 a.m. to 6:00 p.m., and ventilation will be furnished on business days during the aforesaid hours except when air conditioning/cooling is being furnished as aforesaid. If Tenant requires air conditioning/cooling or ventilation for more extended hours or on Saturdays, Sundays or on holidays, as defined under Owner’s contract with the International Union of Operating Engineers Local 94, 94A, 94B, Owner will furnish the same at Tenant’s expense, RIDER to be added in respect to rates and conditions for such additional service; (f) Owner reserves the right to stop services of the heating, elevators, plumbing, air-conditioning, electric, power systems or cleaning or other services, if any, when necessary by reason of accident, or for repairs, alterations, replacements or improvements necessary or desirable in the judgment of Owner, for as long as may be reasonably required by reason thereof. [INSERT 19] If the building of which the demised premises are a part supplies manually operated elevator service, Owner at any time may substitute automatic control elevator service and proceed diligently with alterations necessary therefor without in any wise affecting this lease or the obligations of Tenant hereunder.

				
	
					
						Captions:30)  The Captions are inserted only as a matter of convenience and for reference, and in no way define, limit or describe the scope of this lease nor the intent of any provisions thereof.

				

		 

		

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						Definitions:31)  The term “office”, or “offices”, wherever used in this lease, shall not be construed to mean premises used as a store or stores, for the sale or display, at any time, of goods, wares or merchandise, of any kind, or as a restaurant, shop, booth, bootblack or other stand, barber shop, or for other similar purposes, or for manufacturing.  The term “Owner” means a landlord or lessor, and as used in this lease means only the owner, or the mortgagee in possession for the time being, of the land and building (or the owner of a lease of the building or of the land and building) of which the demised premises form a part, so that in the event of any sale or sales of said land or building, or of said lease, or in the event of a lease of said building, or of the land and building, the said Owner shall be, and hereby is, entirely freed and relieved of all covenants and obligations of Owner hereunder, and it shall be deemed and construed without further agreement between the parties or their successors in interest, or between the parties and the purchaser, at any such sale, of the said lessee of the building, or of the land and building, that the purchaser or the lessee of the building has assumed and agreed to carry out any and all covenants and obligations of Owner, hereunder.  The words “re-enter” and “re-entry” as used in this lease are not restricted to their technical legal meaning.  The term “business days” as used in this lease shall exclude Saturdays, Sundays and all days as observed by the State or Federal Government as legal holidays and those designated as holidays by the applicable building service union employees service contract, [INSERT 20] or by the applicable Operating Engineers contract with respect to HVAC service.  Wherever it is expressly provided in this lease that consent shall not be unreasonably withheld, such consent shall not be unreasonably delayed.

				
	
					
						Adjacent
Excavation
Shoring:

					
					
						32)  If an excavation shall be made upon land adjacent to the demised premises, or shall be authorized to be made, Tenant shall afford to the person

				
	
					
						causing or authorized to cause such excavation, a license to enter upon the demised premises for the purpose of doing such work as said person shall deem necessary to preserve the wall or the building, of which demised premises form a part, from injury or damage, and to support the same by proper foundations, without any claim for damages or indemnity against Owner, or diminution or abatement of rent.

				
	
					
						Rules and
Regulations:

					
					
						33)  Tenant and Tenant’s servants, employees, agents, visitors, and licensees shall observe faithfully, and comply strictly with, the Rules and Regulations of such  other  and further

				

		 

		

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						reasonable Rules and Regulations as Owner or Owner’s agents may from time to time adopt.  Notice of any additional Rules or Regulations shall be given in such manner as Owner may elect.  In case Tenant disputes the reasonableness of any additional Rules or Regulations hereafter made or adopted by Owner or Owner’s agents, the parties hereto agree to submit the question of the reasonableness of such Rules or Regulations for decision [INSERT 21] to the New York office of the American Arbitration Association, whose determination shall be final and conclusive upon the parties hereto.  The right to dispute the reasonableness of any additional Rules or Regulations upon Tenant’s part shall be deemed waived unless the same shall be asserted by service of a notice, in writing, upon Owner, within fifteen (15) days after the giving of notice thereof.  Nothing in this lease contained shall be construed to impose upon Owner any duty or obligation to enforce the Rules and Regulations or terms, covenants or conditions in any other lease, as against any other tenant, and Owner shall not be liable to Tenant for violation of the same by any other tenant, its servants, employees, agents, visitors or licensees. [INSERT 22]

				
	
					
						Security:34)  Tenant has [INSERT 23] deposited with Owner the sum of $210,432.00 as security for the faithful performance and observance by Tenant of the terms, provisions and conditions of this lease; it is agreed that in the event Tenant defaults in respect of any of the terms, provisions and conditions of this lease, including, but not limited to, the payment of rent and additional rent, Owner may use, apply or retain the whole or any part of the security so deposited [INSERT 24] to the extent required for the payment of any rent and additional rent, or any other sum as to which Tenant is in default, or for any sum which Owner may expend or may be required to expend by reason of Tenant’s default in respect of any of the terms, covenants and conditions of this lease, including but not limited to, any damages or deficiency in the re-letting of the demised premises, whether such damages or deficiency accrued before or after summary proceedings or other re-entry by Owner. In the event that Tenant shall fully and faithfully comply with all of the terms, provisions, covenants and conditions of this lease, the security shall be returned to Tenant after the date fixed as the end of this lease and after delivery of entire possession of the demised premises to Owner.  In the event of a sale of the land and building, or leasing of the building, of which the demised premises form a part, Owner shall have the right to transfer the security to the vendee or lessee, and Owner shall thereupon be released by Tenant from all liability for the return of such security; and Tenant agrees to look to the new Owner solely for the return of said security, and it is agreed that the provisions hereof shall apply to every transfer or assignment made of the security to a new Owner. Tenant further covenants that it will not assign or encumber, or attempt to assign or encumber, the monies deposited herein [INSERT 25] as security and that neither Owner nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance.

				

		 

		

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						Estoppel
Certificate:

					
					
						35)  Tenant, at any time, and from time to time, upon at least ten (10) days prior notice by Owner, shall execute, acknowledge and deliver to Owner, and/

				
	
					
						or to any other person, firm or corporation specified by Owner, a statement certifying that this lease is unmodified and in full force and effect (or, if there have been modifications, that the same is in full force and effect as modified and stating the modifications), stating the dates to which the rent and additional rent have been paid, and stating [INSERT 26] whether or not there exists any default by Owner under this lease, and, if so, specifying each such default.

				
	
					
						Successors
and Assigns:

					
					
						36)  The covenants, conditions and agreements contained in this lease shall bind and inure to the  benefit  of Owner

				
	
					
						and Tenant and their respective heirs, distributees, executors, administrators, successors, and except as otherwise provided in this lease, their assigns.  Tenant shall look only to Owner’s estate and interest in the land and building, for the satisfaction of Tenant’s remedies for the collection of a judgment (or other judicial process) against Owner in the event of any default by Owner hereunder, and no other property or assets of such Owner (or any partner, member, officer or director thereof, disclosed or undisclosed), shall be subject to levy, execution or other enforcement procedure for the satisfaction of Tenant’s remedies under, or with respect to, this lease, the relationship of Owner and Tenant hereunder, or Tenant’s use and occupancy of the demised premises.

				

		
			 
		

		
			 
		

		

		

		 

		

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			Exhibit 10.30

		

		In Witness Whereof, Owner and Tenant have respectively signed and sealed this lease as of the day and year first above written.
		

			
					
						Witness for Owner:

					
						

					
						Witness for Tenant:

					
						

					
					
						J.A.B. MADISON HOLDINGS, L.L.C.

					
						By:  J.A.B. Madison Management Corp.

					
						By:  /s/ Shira Nadich Levin
Name:  Shira Nadich Levin
Title:  President

					
						BANKRATE INC.

					
						By:  /s/ Robert J. DeFranco
Name:  Robert J. DeFranco
Title:  Senior Vice President

 Chief Financial Officer

				
	
					
						ACKNOWLEDGEMENT

					
						STATE OF NEW YORK FLORIDA,

					
						SS.:

					
						COUNTY OF PALM BEACH

					
						 

					
						On the 12 day of January in the year 2006, before me, the undersigned, a Notary Public in and for said State, personally appeared Robert DeFranco, personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument.

					
						/s/  Daphne Batts

NOTARY PUBLIC

					
						[NOTARY PUBLIC STAMP]

				

		

		

		 

		

			W/2507703v1

		

		

			 

		

 

		

			 

		

		
		

			
					
						GUARANTY

				
	
					
						FOR VALUE RECEIVED, and in consideration for, and as an inducement to Owner making the within lease with Tenant, the undersigned guarantees to Owner, Owner’s successors and assigns, the full performance and observance of all the covenants, conditions and agreements, therein provided  to be performed and observed by Tenant, including the “Rules and Regulations” as therein provided, without requiring any notice of non-payment, non-performance, or non-observance, or proof, or notice, or demand, whereby to charge the undersigned therefor, all of which the undersigned hereby expressly waives and expressly agrees that the validity of this agreement and the obligations of the guarantor hereunder shall in no wise be terminated, affected or impaired by reason of the assertion by Owner against Tenant of any of the rights or remedies reserved to Owner pursuant to the provisions of the within lease. The undersigned further covenants and agrees that this guaranty shall remain and continue in full force and effect as to any renewal, modification or extension of this lease and during any period when Tenant is occupying the demised premises as a “statutory tenant.”  As a further inducement to Owner to make this lease, and in consideration thereof, Owner and the undersigned covenant and agree that in any action or proceeding brought by either Owner or the undersigned against the other on any matters whatsoever arising out of, under, or by virtue of, the terms of this lease or of this guarantee, that Owner and the undersigned shall and do hereby waive trial by jury.

					
						Dated  in the year 

					
						
Guarantor

					
						
Witness

					
						
Guarantor’s Residence

					
					
						
Business Address

					
						
Firm Name

					
						STATE OF NEW YORK,)      ss.:

					
						COUNTY OF )

					
						On the                 day of                           in the year        before me, the undersigned, a Notary Public in and for said State, personally appeared                                                          , personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individuals(s) acted, executed the instrument.

					
						

Notary Public

				

		
			 
		

		

		

		 

		

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			Exhibit 10.30

		

		IMPORTANT -- PLEASE READ 
		

		
			 
		

		
			RULES AND REGULATIONS ATTACHED TO AND MADE A PART OF THIS LEASE IN ACCORDANCE WITH ARTICLE 33.
		

		
			1.The sidewalks, entrances, driveways, passages, courts, elevators, vestibules, stairways, corridors or halls shall not be obstructed or encumbered by Tenant or used for any purpose other than for ingress or egress from the demised premises, and for delivery of merchandise and equipment in a prompt and efficient manner using elevators and passageways designated for such delivery by Owner.  There shall not be used in any space, or in the public hall of the building, either by Tenant or by jobbers or others in the delivery or receipt of merchandise, any hand trucks, except those equipped with rubber tires and sideguards.  If said premises are situated on the ground floor of the building, Tenant thereof shall further, at Tenant’s expense, keep the sidewalk and curb in front of said premises clean and free from ice, snow, dirt and rubbish.
		

		
			2.The water and wash closets and plumbing fixtures shall not be used for any purposes other than those for which they were designed or constructed, and no sweepings, rubbish, rags, acids or other substances shall be deposited therein, and the expense of any breakage, stoppage, or damage resulting from the violation of this rule shall be borne by the Tenant, whether or not caused by the Tenant, or its clerks, agents, employees or visitors.
		

		
			3.No carpet, rug or other article shall be hung or shaken out of any window of the building and Tenant shall not sweep or throw, or permit to be swept or thrown, from the demised premises any dirt or other substances into any of the corridors or halls, elevators, or out of the doors or windows or stairways of the building, and Tenant shall not use, keep or permit to be used or kept, any foul or noxious gas or substance in the demised premises, or permit or suffer the demised premises to be occupied or used in a manner offensive or objectionable to Owner or other occupants of the building by reason of noise, odors, and/or vibrations, or interfere in any way with other tenants or those having business therein, nor shall any bicycles, vehicles, animals, fish, or birds be kept in or about the building. Smoking or carrying lighted cigars or cigarettes in the elevators of the building is prohibited.
		

		
			4.No awnings or other projections shall be attached to the outside walls of the building without the prior written consent of Owner.
		

		
			5.No sign, advertisement, notice or other lettering shall be exhibited, inscribed, painted or affixed by Tenant on any part of the outside of the demised premises or the building, or on the inside of the demised premise if the same is visible from the outside of the demised premises without the prior written consent of Owner, except that the name of Tenant may appear on the entrance door of the demised premises.  In the event of the violation of the foregoing by Tenant, Owner may remove same without any liability, and 
		

		 

		

			-  23  -

		

 

		

			 

		

		may charge the expense incurred by such removal to Tenant.  Interior signs on doors and directory tablet shall be inscribed, painted or affixed for Tenant by Owner at the expense of Tenant, and shall be of a size, color and style acceptable to Owner.
		

		
			6.Tenant shall not mark, paint, drill into, or in any way deface, any part of the demised premises or the building of which they form a part.  No boring, cutting or stringing of wires shall be permitted, except with the prior written consent of Owner, and as Owner may direct.  Tenant shall not lay linoleum, or other similar floor covering, so that the same shall come in direct contact with the floor of the demised premises, and, if linoleum or other similar floor covering is desired to be used, an interlining of builder’s deadening felt shall be first affixed to the floor, by a paste or other material, soluble in water, the use of cement or other similar adhesive material being expressly prohibited.
		

		
			7.No additional locks or bolts of any kind shall be placed upon any of the doors or windows by any Tenant, nor shall any changes be made in existing locks or mechanism thereof.  Tenant must, upon termination of his Tenancy, restore to Owner all keys of stores, offices and toilet rooms, either furnished to, or otherwise procured by, Tenant, and in the event of the loss of any keys, so furnished, Tenant shall pay to Owner the cost thereof. 
		

		
			8.Freight, furniture, business equipment, merchandise and bulky matter of any description shall be delivered to and removed from the demised premises only on the freight elevators and through the service entrances and corridors, and only during hours and in a manner approved by Owner.  Owner reserves the right to inspect all freight to be brought into the building and to exclude from the building all freight which violates any of these Rules and Regulations of the lease, or which these Rules and Regulations are a part. 
		

		
			9.Canvassing, soliciting and peddling in the building is prohibited and Tenant shall cooperate to prevent the same. 
		

		
			10.Owner reserves the right to exclude from the building all persons who do not present a pass to the building signed by Owner.  Owner will furnish passes to persons for whom any Tenant requests same in writing.  Tenant shall be responsible for all persons for whom he requests such pass, and shall be liable to Owner for all acts of such persons.  Tenant shall not have a claim against Owner by reason of Owner excluding from the building any person who does not present such pass. 
		

		
			11.Owner shall have the right to prohibit any advertising by Tenant which in Owner’s opinion, tends to impair the reputation of the building or its desirability as a building for offices, and upon written notice from Owner, Tenant shall refrain from or discontinue such advertising. 
		

		

		

		 

		

			-  24  -

		

 

		

			 

		

		12.Tenant shall not bring or permit to be brought or kept in or on the demised premises, any inflammable, combustible, explosive, or hazardous fluid, material, chemical or substance, or cause or permit any odors of cooking or other processes, or any unusual or other objectionable odors to permeate in, or emanate from, the demised premises. 
		

		
			13.If the building contains central air conditioning and ventilation, Tenant agrees to keep all windows closed at all times and to abide by all rules and regulations issued by Owner with respect to such services.  If Tenant requires air conditioning or ventilation after the usual hours, Tenant shall give notice in writing to the building superintendent prior to 3:00 p.m. in the case of services required on weekdays, and prior to 3:00 p.m. on the day prior in case of after hours service required on weekends or on holidays.  Tenant shall cooperate with Owner in obtaining maximum effectiveness of the cooling system by lowering and closing venetian blinds and/or drapes and curtains when the sun’s rays fall directly on the windows of the demised premises. 
		

		
			14.Tenant shall not move any safe, heavy machinery, heavy equipment, bulky matter, or fixtures into or out of the building without Owner’s prior written consent.  If such safe, machinery, equipment, bulky matter or fixtures requires special handling, all work in connection therewith shall comply with the Administrative Code of the City of New York and all other laws and regulations applicable thereto, and shall be done during such hours as Owner may designate. 
		

		
			 
		

		

		

		 

		

			-  25  -

		

 

		

			 

		

		15.Refuse and Trash.  (1) Compliance by Tenant.  Tenant covenants and agrees, at its sole cost and expense, to comply with all present and future laws, orders, and regulations, of all state, federal, municipal, and local governments, departments, commissions and boards regarding the collection, sorting, separation and recycling of waste products, garbage, refuse and trash.  Tenant shall sort and separate such waste products, garbage, refuse and trash into such categories as provided by law.  Each separately sorted category of waste products, garbage, refuse and trash shall be placed in separate receptacles reasonably approved by Owner.  Such separate receptacles may, at Owner’s option, be removed from the demised premises in accordance with a collection schedule prescribed by law.  Tenant shall remove, or cause to be removed by a contractor acceptable to Owner, at Owner’s sole discretion, such items as Owner may expressly designate.  (2) Owner’s Rights in Event of Noncompliance.  Owner has the option to refuse to collect or accept from Tenant waste products, garbage, refuse or trash (a) that is not separated and sorted as required by law or (b) which consists of such items as Owner may expressly designate for Tenant’s removal, and to require Tenant to arrange for such collection at Tenant’s sole cost and expense, utilizing a contractor satisfactory to Owner.  Tenant shall pay all costs, expenses, fines, penalties, or damages that may be imposed on Owner or Tenant by reason of Tenant’s failure to comply with the provisions of this Building Rule 15, and, at Tenant’s sole cost and expense, shall indemnity, defend and hold Owner harmless (including reasonable legal fees and expenses) from and against any actions, claims and suits arising from such noncompliance, utilizing counsel reasonably satisfactory to Owner. 
		

		
			 
		

		 

		

			-  26  -

		

 

		

			Exhibit 10.30

		

			
					
						Address

					
						Premises

					
					
						 

				
	
					
						TO

					
						[STANDARD FORM OF OFFICE LEASE LOGO]

					
						 

					
					
						Datedin the year

					
						Rent Per Year

					
						Rent Per Month

					
						Term
From
To

					
						Drawn by

					
						Checked by

					
						Entered by

					
						Approved by

				

		
			 
		

		

		

		 

		

			-  27  -

		

 

		

			Exhibit 10.30

		

		INSERTS ANNEXED TO AND FORMING A PART
OF PRINTED FORM OF LEASE DATED AS OF
JANUARY 20, 2006 BETWEEN J.A.B. MADISON
HOLDINGS, L.L.C., AS OWNER, AND BANKRATE,
INC., AS TENANT, COVERING A PORTION OF
THE FOURTH (4TH) FLOOR AT 477 MADISON
AVENUE, NEW YORK, NEW YORK 
		

		
			A.(which first monthly installment shall be applied towards the fixed rent immediately due after the expiration of any abatement of fixed rent provided for hereunder).
		

		
			1.which approval shall not be unreasonably withheld, conditioned or delayed.
		

		
			2.reasonably
		

		
			3.Notwithstanding foregoing, Tenant shall not be required to remove Owner’s Work (as hereinafter defined).
		

		
			4.provided such contractors’ rates are commercially reasonable.
		

		
			5.(all of the foregoing, collectively, “Requirements”)
		

		
			6.which would otherwise be in effect.
		

		
			7.Owner’s
		

		
			8.If more than 50% of the demised premises shall be damaged by fire or other casualty during the last year of the term of this Lease, either Owner or Tenant may, upon not less than 60 days written notice to the other, cancel and terminate this Lease as of the date set forth in such notice, as if such date were the stated Expiration Date of this Lease, and, in such event, Owner shall have no duty to repair and/or restore the demised premises.
		

		
			9.made by or for the benefit of
		

		
			10.Owner shall use reasonable efforts to minimize interference with Tenant’s business while performing such work and shall use reasonable efforts to have such work performed expeditiously and with due diligence, but, notwithstanding the foregoing, Owner shall not be required to utilize overtime labor or pay overtime wages in connection therewith.
		

		
			11.and upon reasonable notice (which may be oral)
		

		
			12.in an emergency
		

		
			13.Owner shall not modify the certificate of occupancy now in effect for the Building so as to prohibit office use of the demised premises.
		

		
			14.including
		

		 

		

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			15.fifteen (15) days in the case of any default not involving the payment of money or seven (7) days in the case of any default involving the payment of money,
		

		
			16.the aforesaid fifteen (15) day period (it being acknowledged and agreed by Tenant that any default in the payment of fixed rent and/or additional rent can be completely cured within said seven (7) day period)
		

		
			17.A courtesy copy of any default notice to Tenant shall also be sent in like manner to The Law Offices of David Skrilow, 551 Fifth Avenue, Suite 1114, New York New York, attn:  David Skrilow, Esq., but in no event shall such courtesy copy be deemed a requirement of a default notice.
		

		
			18.in accordance with Exhibit C annexed hereto and made a part hereof
		

		
			19.Owner shall use reasonable efforts to minimize interference with Tenant’s business while making such repairs, alterations, replacements or improvements and shall use reasonable efforts to have the same performed expeditiously and with due diligence but, notwithstanding the foregoing, Owner shall not be required to utilize overtime labor or pay overtime wages in connection therewith.
		

		
			20.or by local 32B-32J, Building Service Employees Union, AFL-CIO, or any successor thereto,
		

		
			21.by informal arbitration pursuant to Article 45 hereof.
		

		
			22.Owner shall not unreasonably discriminate against Tenant in its application of Rules and Regulations.
		

		
			23.delivered to Owner a letter of credit in
		

		
			24.delivered
		

		
			25.letter of credit delivered hereunder
		

		
			26.to Tenant’s knowledge
		

		
			 
		

		
			 
		

		

		

		 

		

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			Exhibit 10.30

		

		RIDER attached to and forming part of LEASE dated as of November 23, 2005
between J.A.B. MADISON HOLDINGS, L.L.C., Owner, and BANKRATE, INC., Tenant PREMISES:  477 Madison Avenue; A Portion of the Fourth (4th) Floor
		

		
			
		

		
			37.Application of this Rider
		

		
			A.Rider Provisions Paramount.  If and to the extent that any of the provisions of this Rider conflict or are otherwise inconsistent with any of the preceding printed provisions of this Lease, or of the Rules and Regulations attached to this Lease as Exhibit “B”, whether or not such inconsistency is expressly noted in this Rider, the provisions of this Rider shall prevail, and in case of inconsistency with said Rules and Regulations, shall be deemed a waiver of such Rules and Regulations with respect to Tenant to the extent of such inconsistency.
		

		
			B.Additional Definitions.  For the purpose of this Lease and all agreements supplemental to this Lease, and all communications with respect thereto, unless the context otherwise requires:
		

		
			(1)The term “fixed rent” shall mean rent consisting of base rent (inclusive of ERIF, as hereinafter defined) at the annual rate of:
		

		
			(a)Four Hundred Twenty Thousand Eight Hundred Sixty-Four and 00/100 Dollars ($420,864.00) per annum (i.e., $35,072.00 per month) for the period (the “First Rental Period”) commencing on the Commencement Date and continuing through and including the last day of the calendar month in which the third (3rd) anniversary of the Commencement Date occurs; and
		

		
			(b)Four Hundred Forty-Seven Thousand One Hundred Sixty-Eight and 00/100 Dollars ($447,168.00) per annum (i.e., $37,264.00 per month) for the period (the “Second Rental Period”) commencing on the first day following the last day of the First Rental Period and continuing through and including the last day of the calendar month in which the seventh (7th) anniversary of the Commencement Date occurs; and
		

		
			(c)Four Hundred Sixty-Four Thousand Seven Hundred Four and 00/100 Dollars ($464,704.00) per annum (i.e., $38,725.33 per month) for the period commencing on the first day following the last day of the Second Rental Period and continuing through and including the Expiration Date.
		

		
			(2)The term “additional rent” shall mean all sums of money, other than fixed rent, as shall become due and payable from Tenant to Owner hereunder, and Owner shall have the same remedies therefor as for a default in payment of fixed rent.
		

		
			(3)The terms “rent” and “rents” shall mean and include fixed rent and/or additional rent and/or escalation rent hereunder.
		

		 

		

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			(4)The term “Commencement Date” shall mean the earlier of the day Owner’s Work (as hereinafter defined) is substantially completed or the day Tenant first occupies all or any part of the demised premises for the conduct of business and the term “Expiration Date” shall mean the last day of the calendar month in which occurs the date that is ten (10) years and six (6) months after the Commencement Date.  Owner shall expeditiously complete any Punch list Work (As hereinafter defined).  Within ten (10) days after request by Owner, Tenant shall execute and deliver to Owner a certificate confirming the Commencement Date and Expiration Date.  In no event shall Owner’s failure to request any such certificate or Tenant’s failure or refusal to execute any such certificate in any way affect this Lease, the term hereof or any of Tenant’s obligations hereunder including, without limitation, Tenant’s obligation to pay the rents herein reserved and to perform all of the other covenants and agreements herein set forth.
		

		
			Owner shall use reasonable efforts to substantially complete Owner’s Work on or before April 15, 2006.  Notwithstanding the foregoing, if Owner shall be unable to substantially complete Owner’s Work by such date, no such failure shall in any wise affect the validity of this Lease or the obligations of Tenant hereunder or give right to any claim for damages by Tenant or claim for rescission of this Lease, nor shall the same be construed in any wise to extend the term of this Lease.  Notwithstanding anything contained herein to the contrary, in the event that Owner cannot substantially complete Owner’s Work on or before the date that is six (6) months after the date this Lease is mutually executed and delivered to Tenant, and provided Tenant is not responsible for Owner’s inability to substantially complete Owner’s Work, Tenant may elect to terminate this Lease after said six (6) month period but at any time prior to the substantial completion of Owner’s Work by giving a written termination notice to Owner and upon delivery of such termination notice this Lease shall terminate and thereupon neither party shall have any liability or obligation to the other.
		

		
			(5)Provided Tenant is not in default of the terms and provisions of this Lease beyond the expiration of all applicable notice and cure periods, the fixed rent payable hereunder shall be abated for the first six (6) months of the term hereof.  Anything contained herein to the contrary notwithstanding, if Tenant, at any time during the Term of this Lease, after Tenant has been granted all or a portion of the rent abatement or rent credit described herein, breaches any covenant, condition or provision of this Lease and fails to cure such breach within any applicable grace period, and provided that this Lease is terminated by Owner because of such default, then, in addition to all other damages and remedies herein provided and to which Owner may otherwise be entitled, the fixed rent so abated shall be amortized on a straight-line basis over the term hereof, and Owner shall also be entitled to the repayment of the unamortized portion of any rent abatement or rent credit theretofore enjoyed by Tenant, which sum shall be deemed additional rent hereunder and shall be due upon demand by Owner.  The obligation of Tenant to pay such additional rent (or damages) to Owner shall survive the expiration or sooner termination of the Term of this Lease.
		

		
			(6)Any provision in this Lease that one party or the other or both shall do or not do or shall cause or permit or not cause or permit a particular act, condition or circumstance shall be deemed to mean that such party so covenants or both parties so covenant, as the case may be.  Tenant’s obligations hereunder shall be construed in every instance as conditions as well as covenants.  Such provisions shall be deemed to mean that if the performance of the 
		

		 

		

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		covenant will involve incurrence of expense such expense shall be borne by the party responsible for such performance except where this Lease expressly provides otherwise.
		

		
			(7)The term “Tenant” shall mean Tenant herein named or any permitted assignee or other successor in interest (immediate or remote) of Tenant herein named, when Tenant herein named or such assignee or other successor in interest as the case may be is in possession of the demised premises as owner of the Tenant’s estate and interest granted by this Lease.
		

		
			(8)All references in this Lease to numbered Articles and lettered Exhibits are references to Articles of this Lease and Exhibits annexed to (and thereby made part of) this Lease, as the case may be, unless expressly otherwise designated in the context.
		

		
			(9)The words “include”, “including” and “such as” shall each be construed as if followed by the phrase “without being limited to”.  The words “herein”, “hereof”, “hereby”, “hereunder” and words of similar import shall be construed to refer to this Lease as a whole and not to any particular Article or subdivision thereof unless expressly so stated.  The rule of ejusdem generis shall not be applicable to limit a general statement following or referable to an enumeration of specific matters, to matters similar to the matters specifically mentioned.  Words and phrases used in the singular shall be deemed to include the plural and vice versa and nouns and pronouns used in any particular gender shall be deemed to include any other gender, as the sense of the context may permit.
		

		
			(10)The term “Applicable Rate” shall mean the lesser of (a) two (2) percentage points above the then current rate of interest publicly announced from time to time by Citibank, N.A., or its successor, as its “prime lending rate” (or such other term as may be used by Citibank, N.A., from time to time, for the rate presently referred to as its “prime lending rate”), and (b) the maximum rate permitted by applicable law.
		

		
			(11)The term “Tenant’s Proportionate Operating Share” shall mean 3.08%.
		

		
			(12)The term “Tenant’s Proportionate Tax Share” shall mean 2.96%.
		

		
			(13)The term “Substantial Completion” or words of similar import shall mean that the applicable work has been substantially completed in accordance with the applicable plans, specifications and laws, if any, it being agreed that such work shall be deemed substantially complete notwithstanding the fact that minor or insubstantial details of construction or demolition, mechanical adjustment or decorative items remain to be performed (“Punch List Work”).
		

		
			C.Some Qualifications of Certain Preceding Printed Articles
		

		
			(1)Notwithstanding Tenant’s agreement to pay the fixed rent in lawful money which shall be legal tender, Owner shall accept, subject to collection, and Tenant shall pay all fixed rent and additional rent falling due under this Lease by currently dated, unendorsed check of Tenant, payable to Owner or its designed agent and drawn on a bank or trust company which is a member of the New York Clearing House.  If Tenant shall default in timely payment of any rent twice in any period of twenty-four (24) months, and whether or not such default shall be 
		

		 

		

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		cured, Owner, may by notice given to Tenant at any time thereafter, require Tenant to make all further rent payments by currently dated, unendorsed certified or official bank check payable to Owner on a bank or trust company that is a member of the New York Clearing House.
		

		
			(2)The use of the demised premises for the purposes specified in Article 2 shall not in any event be deemed to include, and Tenant shall not use, or permit the use of the demised premises or any part thereof for:
		

		
			a)the conduct of a public auction of any kind or of any gaming or gambling activities, or of any political or club activities, whether private or public;
		

		
			b)the conduct of a school of any kind (other than a training center for employees of Tenant);
		

		
			c)the conduct of a cafeteria or restaurant other than private dining facilities for Tenant’s officers, employees and business guests;
		

		
			d)the conduct of any business, occupation or activity which, in the reasonable judgment of Owner, may (i) create or foster an unusual risk to the security of the Building or of any of its tenants or occupants, (ii) impair the reputation of the Building for the highest class of office and commercial uses, or (iii) interfere with or disturb the occupancy of other tenants in the Building; 
		

		
			e)the conduct of meetings, shows or exhibits for the general public.
		

		
			In no event shall the demised premises be used or occupied by anyone (as assignee of this Lease or as subtenant or licensee), who shall not have a financial standing, or shall not be of a character, or shall not be engaged in a business, or shall not use the demised premises in a manner, which shall be in keeping with the standards in such respects of the other office tenancies in the Building.
		

		
			In no event shall Tenant cause or permit, as the result of any intentional or unintentional act or omission on the part of Tenant, its agents, employees, tenants, subtenants or other occupants of the demised premises to release Hazardous Substances (hereinafter defined) in or from any portion of the demised premises in violation of any Environmental Laws (hereinafter defined).  Tenant shall indemnify, defend and hold harmless Owner and any property manager(s) engaged by Owner, their successors, assigns, and each of their affiliated companies, partners, shareholders, agents, directors, officers and employees (collectively, “Indemnitees”) from and against any and all claims, demands, penalties, fines, liabilities, settlements, suits, damages, losses, injuries, costs and expenses of whatever kind or nature, known or unknown, contingent or otherwise, including, without limitations, attorneys’ and consultants’ fees and disbursements and investigation and laboratory fees arising out of, or in any way related to:  (i) the presence, disposal, release or threat of release of any Hazardous Substance as a result of any act or omission of Tenant, its agents, employees, tenants, subtenants, invitees or other occupants of the demised premises, in or from or affecting the demised premises; (ii) any personal injury (including wrongful death) or property damage (real or personal) arising out of or related to any such Hazardous Substance; (iii) any lawsuit brought or threatened, settlement reached or government order relating to such Hazardous Substance; and (iv) any violations of any 
		

		 

		

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		Environmental Laws.  As used herein the term “Hazardous Substance” shall mean solid waste, hazardous waste, hazardous substance, petroleum product or similar term as used and defined in the Resource Conservation and Recovery Act, the Comprehensive Environmental Response, Compensation and Liability Act, the Hazardous Material Transportation Act, the Federal Water Pollution Control Act, the Superfund Amendments and Reauthorization Act of 1986, any laws relating to underground storage tanks, and any similar or successor federal law, state law or local statutes or ordinances and any rules, regulations and policies promulgated thereunder, as any of the same may be amended from time to time (collectively, “Environmental Laws”).  Tenant’s indemnity hereunder shall survive the expiration or sooner termination of this Lease.  Notwithstanding anything to the contrary contained herein, in no event shall Tenant be responsible for any Hazardous Substances existing within the demised premises prior to the Commencement Date.
		

		
			(3)Supplementing Article 3:
		

		
			a)Tenant shall cause any permitted alterations, decorations, installations, additions or improvements (any of the foregoing are herein called “Tenant’s Changes”) in or about the demised premises, referred to in Article 3, to be performed in compliance with all applicable Requirements, and in such manner as not to interfere with, delay, or impose any additional expense upon Owner in the construction, maintenance or operation of the Building, or interfere with or disturb the occupancy of other tenants in the Building, and so as to maintain harmonious labor relations in the Building.  Tenant with diligence and dispatch, shall procure the cancellation or discharge of all notices of violation arising from or otherwise connected with Tenant’s Changes which shall be issued by the Department of Buildings or any other public authority having or asserting jurisdiction.
		

		
			b)Owner may require submission to it of plans and specifications for any proposed Tenant’s Changes and in granting its consent to any Tenant’s Changes may impose such conditions (in addition to those expressly provided in this Lease) as to guaranty of completion and payment and of restoration and otherwise as Owner may reasonably consider desirable.  In no event shall Owner be required to consent to any Tenant’s Changes which could physically affect any part of the Building outside of the demised premises or might adversely affect the proper functioning of any of the Building Systems.  Owner may require Tenant to reimburse Owner for Owner’s reasonable out-of-pocket costs and expenses to unrelated third parties for (x) review of Tenant’s plans and specifications for such Tenant’s Changes, and (y) supervision of compliance with the requirements of this Lease in the performance of such Tenant’s Changes.
		

		
			c)Within thirty (30) days after the completion of any Tenant’s Changes, Tenant shall deliver to Owner a full set of architectural, structural, mechanical and electrical drawings and specifications showing the demised premises “as built” by the performance of such Tenant’s Changes.
		

		
			(4)Supplementing Article 16, insert at the beginning thereof in place of the first sentence thereof, the following:
		

		

		

		 

		

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		“If, at or before the date fixed as the Commencement Date of the term of this Lease or if at any time during the term hereby demised:
		

		
			i)Tenant shall file a petition commencing a voluntary case under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under similar law, or file a petition in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law or, if Tenant is then a banking organization, shall file an application for voluntary liquidation or dissolution applicable to banking organizations; or
		

		
			ii)an involuntary case against Tenant as debtor is commenced by a petition under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under similar law, or a petition or answer proposing the adjudication of Tenant as a bankrupt or its reorganization pursuant to any state bankruptcy law or any similar state law shall be filed in any court and same shall not be dismissed within sixty (60) days after the filing thereof or if Tenant shall consent or acquiesce in filing thereof; or
		

		
			iii)a custodian, receiver, United States Trustee, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of Tenant’s property in the demised premises shall be appointed in any proceedings brought by Tenant; or if any such custodian, receiver, United States Trustee, trustee or liquidator shall be appointed in any proceedings brought against Tenant and shall not be discharged within sixty (60) days after such appointment, or if Tenant shall consent to or acquiesce in such appointment; or
		

		
			iv)if Tenant shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due; or
		

		
			v)if Tenant is then a banking organization, if the Superintendent of Banks of the State of New York or any other public officer having like authority and power over Tenant as a banking organization shall take possession of the business and property of Tenant at the demised premises;
		

		
			then, Owner may, at its option, cancel or terminate this lease by giving Tenant written notice to such effect within a reasonable time after receipt of notice of the happening of any one or more of such events.”
		

		
			(5)Supplementing the provisions of Article 17:
		

		
			Nothing in Article 17 shall be deemed to require Owner to give the notices provided for therein prior to the commencement of a summary proceeding for nonpayment of rent or a plenary action for the recovery of rent on account of any default in the payment of rent, it being acknowledged and agreed by both parties that the sole purpose of such notices is to create a conditional limitation hereunder, and in the event such notices are given by Owner, Tenant shall become a holdover tenant and this Lease shall terminate forthwith at the expiration of the applicable notice period with the effects provided in Article 17(l).
		

		 

		

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			(6)Supplementing Articles 17 and 18:
		

		
			a)Tenant expressly recognizes that Tenant’s due and punctual performance of all its obligations under this Lease throughout the term hereof is of paramount importance to Owner and, without limiting the provisions of Articles 17 and 37C(5), Tenant agrees that, if Tenant (i) shall fail to pay for seven (7) days after it becomes due an installment of fixed rent or regularly recurring additional rent for two (2) months in any period of twelve (12) months, or (ii) shall default in the timely performance of any other obligation of Tenant under this Lease with respect to which Owner shall have given Tenant notice of default, and such default shall occur more than two (2) times in any period of twelve (12) months, then notwithstanding that such failure or other default shall have been cured within the applicable grace period provided in said Articles, any further similar default shall be deemed to be deliberate and Owner thereafter may, without further notice of default, serve a five (5) day notice of cancellation of this Lease as and with the effects provided in subparagraph (1) of Article 17.
		

		
			b)Instead of the liquidated damages determined pursuant to Article 18(c), Owner may, at its election, recover from Tenant as liquidated damages an amount determined pursuant to Article 16(b).
		

		
			(7)Supplementing Article 22, Tenant acknowledges and agrees that the damage to Owner resulting from Tenant’s failure to timely surrender the demised premises to Owner will be substantial, will exceed the amount of fixed rent, additional rent and escalation rent theretofore payable hereunder and will be impossible to accurately measure.  Tenant therefore agrees that if possession of the demised premises is not surrendered to Owner within one (1) day after the Expiration Date or the sooner expiration of the term of this Lease, Tenant shall pay Owner as liquidated damages (and not as a penalty) for each day during which Tenant holds over in the demised premises after the Expiration Date or earlier expiration of the term of this Lease, a sum equal to one and one half (1-1/2) times the average fixed rent, additional rent and escalation rent which was payable on a per diem basis under this Lease on the last day of the term thereof.  Tenant’s obligations hereunder shall survive the Expiration Date or earlier expiration of the term of this Lease.
		

		
			(8)Supplementing and amending Article 27, Tenant shall have no liability whatsoever to Owner on account of the inability of Tenant to timely fulfill any of Tenant’s obligations under this Lease (except for obligations to pay money) by reason of any events as set forth in this Article 27.
		

		
			(9)Supplementing Article 28, “requests” or “approvals” by Owner or Tenant under this Lease shall be deemed to be notices.  All notices shall be in writing.
		

		
			(10)Supplementing and amending Article 29:
		

		
			a)Any use of the demised premises or arrangement of partitioning which interferes with the normal operation of the HVAC systems serving the demised premises may require changes or alteration in the systems or the ducts through which the same operate.  Any changes or alterations so occasioned shall be made by Tenant at its 
		

		 

		

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		own cost and expense but no such changes or alterations shall be made by Tenant without the prior written consent of Owner first had and obtained, which consent shall not be unreasonably withheld, conditioned or delayed.  All such changes shall be in accordance with plans and specifications submitted to and approved by Owner prior to the commencement of the work necessary to accomplish the same and all work done in accordance with this Article shall be done by a general contractor approved in advance by Owner which approval shall not be unreasonably withheld, conditioned or delayed.  Owner shall have free and unrestricted access at reasonable times and upon reasonable prior notice, which notice may be oral, (except no notice shall be required in the case of emergencies) to all Building HVAC equipment located in or readily accessible through the demised premises.  Owner shall use reasonable efforts to minimize interference with Tenant’s business while accessing the Building HVAC equipment and shall use reasonable efforts to have any such work performed expeditiously and with due diligence, but, notwithstanding the foregoing, Owner shall not be required to utilize overtime labor or pay overtime wages in connection therewith.
		

		
			Any air-conditioning shall be furnished by Owner on business days (as defined in Article 31 hereof) from 8:00 A.M. to 6:00 P.M. (from Monday to Friday).  Owner reserves the right to stop the service of said air-conditioning equipment when necessary by reason of accident or of repairs, alterations or improvements in the judgment of Owner desirable or necessary to be made thereto until such repairs, alterations or improvements shall have been completed, and Owner shall further have no responsibility or liability for failure to supply said air-conditioning service when prevented from so doing by strikes, accidents or any causes beyond Owner’s reasonable control, or by orders or regulations of any federal, state, municipal or county authority or failure of electric current, steam and/or water or other suitable power supply for the operation of said air-conditioning system equipment.
		

		
			b)Upon notification by Tenant to Owner’s representative in the Building prior to 3:00 P.M. on Mondays through Fridays and prior to 3:00 P.M. on Fridays for weekend service, Owner agrees to furnish air-conditioning or heat to the demised premises at hours and days not provided for herein, at a cost to Tenant, which Tenant agrees to pay, of Owner’s then standard rate for such service.  To the extent that Article 29 of this Lease is inconsistent with this Article, the provisions of this Article shall prevail.
		

		
			c)Owner acknowledges that Tenant may wish to install supplemental HVAC in the demised premises and that such installation is acceptable to Owner provided that the location is subject to Owner’s approval in its sole discretion, that proper plans are submitted to Owner and the work and installation are done in accordance with and subject to Articles 3, 37 and 50 of this Lease.
		

		
			(10)If Tenant shall fail to pay any installment of fixed rent or any amount of additional rent for more than five (5) business days after it shall have become due and payable, then, whether or not a notice of default has been given therefor pursuant to the provisions of Section 37C(6)(a), Tenant shall pay Owner as a late charge and as additional rent a sum equal to interest at the Applicable Rate on the amount unpaid, computed from the date such payment was 
		

		 

		

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		due through and including the date of payment.  Such late charge shall be without prejudice to any of Owner’s rights and remedies hereunder or at law for nonpayment or late payment of rent and shall be in addition thereto.
		

		
			38.Electricity
		

		
			A.For purposes of this Article, the following terms shall have the following meanings:
		

		
			(1)The term “Owner’s Cost”, shall mean, the average cost per kilowatt hour and average cost per kilowatt demand, by time of day, if applicable, to Owner of purchasing electricity for the building, including, without limitation, fuel adjustment charges (as determined for each month of the relevant period and not averaged) rate adjustment charges, sales tax, and/or any other factors, used by the public utility company (the “Utility”) servicing the building in computing its charges to Owner applied to the kilowatt hours of energy and kilowatts of demand purchased by Owner during a given period, and further including transmission and transformer losses (to be determined by Owner if such losses are not measured by the Submeter, as defined herein); and
		

		
			(2)The term “Owner’s Statement”, shall mean an instrument containing a computation (or estimate thereof), of Owner’s Cost, or any other computation to be made by Owner pursuant to the provisions of this Article.
		

		
			B.Subject to the provisions of subdivision 4 of paragraph C hereof, Tenant agrees that Owner may furnish electricity to Tenant on a “rent inclusion” basis or on a “submetering” basis.  On the Commencement Date, electricity will be furnished on a rent inclusion basis.
		

		
			(1)Submetering.  In the event that Owner shall furnish electricity to Tenant on a “submetering basis” Owner shall, at Owner’s sole cost and expense, install a meter or meters (collectively, the “Submeter”), at a location designated by Owner, connections from the risers and/or circuits servicing the demised premises to the Submeter and perform all other work necessary for the furnishing of electric current by Owner to the demised premises in the manner provided for in this subdivision (1).  If and so long as electric current is supplied by Owner to the demised premises to service Tenant’s office equipment and the machinery and mechanical equipment for the air conditioning units utilized by Tenant, if any, Tenant will pay Owner or Owner’s designated agent, as additional rent for such service, the amounts, as determined by the Submeter, for the purpose of measuring Tenant’s consumption and demand.  In the event said air conditioning units are used by other tenants of the Building, the electric charges for such units shall be allocated by Owner proportionately, on the basis of the respective amount of rentable square feet occupied by such tenants, including Tenant.  The additional rent payable by Tenant pursuant to this subdivision (1), shall be computed in the same manner as that for computation of Owner’s Cost, as applied to the demised premises, plus a fee (the “Overhead Charge”) equal to eight (8%) percent of such charge to Owner, representing administrative/overhead costs to Owner.  The amounts computed from the Submeter together with the Overhead Charge, are herein collectively called the “Electricity Additional Rent”, and such amounts computed from the Submeter shall be binding and conclusive on Tenant absent manifest error.  If the Submeter should fail to properly register or operate at any time during the term of this lease for any reason 
		
		
 

		

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		whatsoever, Owner may estimate the Electricity Additional Rent, and when the Submeter is again properly operative, an appropriate reconciliation shall be made, by Tenant paying any deficiency to Owner within ten (10) days after demand therefor, or by Owner crediting Tenant with the amount of any overpayment, as the case may be.  Owner, at its option, may from time to time, increase the Electricity Additional Rent based upon any increase in Owner’s Cost (and only to the extent of such increase).  The periods to be used for the aforesaid computation shall be as Owner, in its sole discretion, may from time to time elect.  Where more than one meter measures the electric service to Tenant (including such electric energy as is consumed in connection with the operation of the ventilation and air conditioning equipment servicing the demised premises), the electric service rendered through each meter may be computed and billed at Owner’s option, separately as above set forth, or cumulatively.  Bills for the Electricity Additional Rent (“Bills”) shall be rendered to Tenant at such time as Owner may elect.

		
		
			Owner and Tenant agree, that the Submeter might be installed subsequent to the Commencement Date.  In such event, Owner, at Owner’s sole option, may either (x) estimate the Electricity Additional Rent payable by Tenant for the period commencing on the Commencement Date and ending on the Occupancy Reading Date (hereinafter defined), and Tenant shall pay to Owner, within ten (10) days after demand therefor, the amount set forth on Owner’s estimate and, after rendition of a subsequent Owner’s Statement, an appropriate reconciliation shall be made for any deficiency owed by Tenant, or any overage paid by Tenant, or (y) render a Owner’s Statement to Tenant, after a reading of the installed Submeter is made (said date upon which the Submeter is read, being herein called the “Occupancy Reading Date”) on or about the date upon which Tenant shall have commenced normal business operations in the demised premises, and the amount calculated from the Submeter on the Occupancy Reading Date shall be determined on a per diem basis and then multiplied by the number of days from the Commencement Date through the Occupancy Reading Date to arrive at the amount due for said period, and Tenant shall pay the Electricity Additional Rent on the basis of such Submeter reading within ten (10) days after rendition of Owner’s Statement detailing such computation.
		

		
			(2)Rent Inclusion.  In the event that Owner shall furnish electricity to Tenant on a “rent inclusion” basis, Tenant acknowledges and agrees that the fixed rent set forth in this Lease shall be increased by an amount (the “Electricity Rent Inclusion Factor”; hereinafter defined and sometimes called the “ERIF”) to compensate Owner for the electrical wiring and other installations necessary for, and for its obtaining and making available to Tenant the redistribution of electric current to the demised premises as additional service, and (ii) the ERIF shall be subject to periodic adjustments as hereinafter provided.  The Electricity Rent Inclusion Factor shall mean (x) the amount determined by multiplying Owner’s Cost on January 1, 2005 by Tenant’s average kilowatt hour and average kilowatt demand usage (determined by the most recent survey under this subdivision (2), or (y) if no such survey has yet been made, the average on a per rentable square foot basis of the charges for electric current to the demised premises pursuant to subdivision (1) of this Section B (exclusive of the Overhead Charge) for the twelve (12) full calendar months preceding the month in which the provisions of this subdivision (2) shall become effective, multiplied by the number of square feet of rentable area of the demised premises, plus eight (8%) percent of the resulting total.  If Owner’s Cost shall have been, or shall be, increased whether due to a change in electric rates, charges, fuel adjustments, service classifications, taxes or otherwise, the ERIF shall, effective as of the date of such increase in cost, be increased in the same percentage and the fixed rent shall be increased 
		
		
 

		

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		accordingly on account thereof.  If the provisions of this subdivision (2) shall be effective prior to the expiration of a period of twelve (12) full consecutive months during which Tenant is paying for electric energy to the demised premises pursuant to said subdivision (1) of this Article (and no survey has yet been made under this subdivision (2)), so that the ERIF cannot be determined in the manner described in the preceding sentence, then the Electricity Rent Inclusion Factor shall mean the amount determined by multiplying Owner’s Cost by Tenant’s average kilowatt hour and average kilowatt demand usage determined by the estimate of an electrical consultant selected by Owner, plus eight (8%) percent of the resulting total.  When a survey has been made by the electrical consultant selected by Owner (the “Consultant”), the parties shall make adjustment for any deficiency owed by Tenant or any overage paid by Tenant.  Notwithstanding the foregoing, on the Commencement Date the ERIF shall be $26,304 per annum, and the fixed rent set forth in Article 37 hereof includes such amount.

		
		
			The parties agree that the Consultant shall determine the ERIF in accordance with the provisions of this subdivision (2).  The Consultant may from time to time make surveys in the demised premises of the electrical equipment and fixtures and use of current therein, and the ERIF, effective as of the date of the survey, shall be redetermined by the Consultant in accordance with the survey results and the provisions of this subdivision (2).
		

		
			The determination by the Consultant shall be binding and conclusive on Owner and Tenant from and after the delivery of copies of such determinations to Owner and Tenant, unless within thirty (30) days after the delivery of such copies, Tenant disputes such determinations by having an independent reputable electrical consultant selected and paid for by Tenant, consult with Owner or its consultant as to said determinations.  If they shall both agree upon the same, their said agreement shall be binding upon the parties, or if the difference between them is five (5%) percent or less of the determinations made by the Consultant then the determinations made by the Consultant shall be binding upon the parties.  If Owner or the Consultant and Tenant’s consultant cannot agree within the said five (5%) percent of each other, they shall jointly select a third duly qualified independent, reputable electrical consultant who shall determine the matter and whose decision shall be binding upon both parties with the same force and effect as if a non-appealable judgment had been entered by a court of competent jurisdiction.  If Owner or the Consultant and Tenant’s consultant cannot agree upon such a third electrical consultant, the matter shall be submitted to arbitration in accordance with Article 45.  Any charges of such third consultant shall be borne equally by both parties.  When the amount of such increase has been determined, the parties shall execute an agreement supplementary hereto to reflect such adjustment in the amount of fixed rent effective from the date determined by such electrical consultant as aforesaid.  Notwithstanding the foregoing, until such final determination, Tenant shall pay fixed rent to Owner in accordance with the determinations made by the Consultant.  After such final determinations, the parties shall make adjustment for any deficiency owed by Tenant or any overage paid by Tenant.
		

		
			C.General Conditions 
		

		
			(1)Owner shall not be liable in any way to Tenant for any failure or defect in the supply or character of electric service furnished to the demised premises by reason of any requirement, act or omission of the Utility or for any other reason not attributable to the 
		

		 

		

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		negligence of Owner, whether electricity is provided by public or private utility or by any electricity generation system owned and operated by Owner.
		

		
			(2)Tenant shall at all times comply with the rules, regulations, terms and conditions applicable to service, equipment, wiring and requirements of the Utility.  Tenant shall not use any electrical equipment which, in Owner’s reasonable judgment, would exceed the capacity of the existing risers serving the demised premises (the “Basic Capacity”) or interfere with the electrical service to other tenants of the Building.  Tenant agrees not to connect any additional electrical equipment to the Building electric distribution system, other than lamps, personal computers, copiers, typewriters and other similar office machines which consume comparable amounts of electricity, without Owner’s prior consent.  In the event that, in Owner’s sole judgment, Tenant’s electrical requirements require in excess of the Basic Capacity and necessitate installation of an additional riser, risers or other proper and necessary equipment, Owner shall so notify Tenant of same.  Within five (5) business days after receipt of such notice, Tenant shall either cease such use of such additional electricity or shall request that additional electrical capacity (specifying the amount requested) be made available to Tenant.  Owner, in its reasonable judgment, shall determine whether to make available such additional electrical capacity to Tenant and the amount of such additional electrical capacity to be made available.  If Owner shall agree to make available additional electrical capacity and the same necessitates installation of an additional riser, risers or other proper and necessary equipment, including, without limitation, any switchgear, the same shall be installed by Owner.  Any such installation shall be made at Tenant’s sole cost and expense, and shall be chargeable and collectible as additional rent and paid within thirty (30) days after the rendition of a bill to Tenant therefor.  Tenant shall furnish and install, at its expense, all original and replacement lighting tubes, lamps, bulbs and ballasts required in the demised premises.
		

		
			(3)The parties acknowledge that they understand that it is anticipated that electric rates, charges, etc. may be changed by virtue of time-of-day rates or other methods of billing, and that the references in the foregoing subdivisions to changes in methods of or rules on billing are intended to include any such changes.
		

		
			(4)Owner shall have the right at any time, and from time to time, during the term of this Lease, upon thirty (30) days prior written notice to Tenant, to change the furnishing of electricity to Tenant from a rent inclusion basis to a submetering basis, or visa versa.  In addition, Owner shall have the right to terminate the furnishing of electricity to the demised premises on a rent-inclusion, submetering, or any other basis at any time, upon thirty (30) days’ written notice to the Tenant in which event Tenant shall make application directly to the Utility for Tenant’s entire separate supply of electric current to the demised premises and Owner shall permit its wires and conduits, to the extent available and safely capable in Owner’s sole judgment, to be used for such purpose.  Any meters, risers or other equipment or connections necessary to enable Tenant to obtain electric current directly from the Utility shall be installed at Tenant’s sole cost and expense, subject to the provisions of this Lease.  Rigid conduit only will be allowed.  Owner, upon the expiration of the aforesaid thirty (30) days’ written notice to the Tenant, may discontinue furnishing the electric current but this Lease shall otherwise remain in full force and effect.  Provided that Tenant is diligently pursuing obtaining direct electrical service Owner will continue to provide electricity to the demised premises on a redistribution basis for such period of time as is reasonably required by Tenant to arrange to obtain electrical 
		

		 

		

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		service directly from the Utility.  Commencing when Tenant receives such direct service (or submetering) and as long as Tenant shall continue to receive such service, the fixed rent payable under this Lease shall be reduced where electricity rent inclusion is discontinued, by a sum equal to what the ERIF portion of the fixed rent was at the time of such discontinuance.
		

		
			(5)In the event that pursuant to any of the provisions of this Article, any initial determinations, statements or estimates are made by or on behalf of Owner (whether such initial determinations, statements or estimates are subject to dispute or not pursuant to the provisions of this Article), Tenant shall pay to Owner the amount(s) set forth on such initial determinations, statements or estimates, as the case may be, until subsequent determinations, statements or estimates are rendered, at which time, the parties shall make adjustment for any deficiency owed by Tenant, or any overage paid by Tenant.
		

		
			(6)Notwithstanding any provisions of this Article and regardless of the manner of service of electric current to the demised premises (whether by rent inclusion or submetering), in no event shall the cost to Tenant for electric energy to the demised premises be greater or less than one hundred eight (108%) percent of Owner’s Cost unless otherwise provided herein.
		

		
			(7)If any tax is imposed upon Owner’s receipts from the sale or resale of electric current to Tenant by any Federal, state or municipal authority, Tenant agrees that, unless prohibited by law, a portion of such taxes (based on the amount of the Electricity Additional Rent as applied to the appropriate tax rate) shall be passed on to, and included in the bill of, and paid by Tenant to Owner as additional rent.
		

		
			D.The provisions of this Article are subject to any requirements or demands imposed by the Utility.
		

		
			39.Superior Leases and Mortgages
		

		
			A.For the purposes of this Article a “Mortgagee” shall mean the holder of a mortgage affecting the Building and “Lessor” shall mean the holder of a superior lease affecting the Building.
		

		
			B.(1)If the date of expiration of any superior lease shall be the same day as the Expiration Date, the term shall end and expire twelve (12) hours prior to the expiration of the superior lease.  If, in connection with the financing of the Land, the Building or the interest of the lessee under any superior lease, or if in connection with the entering into of a superior lease, any lending institution or Lessor shall request reasonable modifications of this Lease that do not increase Tenant’s monetary obligations under this Lease, or adversely affect or diminish the rights, or increase the other obligations of Tenant under this Lease (other than to a de minimis extent), Tenant shall make such modifications.
		

		
			(2)Neither the Mortgagee nor the Lessor, as the case may be, nor anyone claiming by, through or under such Mortgagee or Lessor, as the case may be, including a purchaser at a foreclosure sale, shall be:
		

		 

		

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			i)liable for any act or omission of any prior Owner except for continuing acts omissions or defaults (including, without limitation, the then defaulting Owner), or
		

		
			ii)subject to any defense or offsets which Tenant may have against any prior Owner (including, without limitation, the then defaulting Owner), or
		

		
			iii)bound by any payment of rental which Tenant may have made to any prior Owner (including, without limitation, the then defaulting Owner) more than thirty days in advance of the date upon which such payment was due, or
		

		
			iv)bound by any obligation to make any payment to or on behalf of Tenant, or
		

		
			v)bound by any obligation to perform any work or to make improvements to the demised premises, except for (i) repairs and maintenance pursuant to the provisions of Article 4 hereof, the need for which repairs and maintenance first arises after the date upon which such owner, Lessor, or Mortgagee shall be entitled to possession of the demised premises, (ii) repairs to the demised premises or any part thereof as a result of damage by fire or other casualty pursuant to Article 9 hereof, but only to the extent that such repairs can be reasonably made from the net proceeds of any insurance actually made available to such Lessor or Mortgagee, and (iii) repairs to the demised premises as a result of a partial condemnation pursuant to Article 10 hereof, but only to the extent that such repairs can be reasonably made from the net proceeds of any award made available to such Lessor or Mortgagee, or
		

		
			vi)bound by any amendment or modification of this Lease made without its consent, or
		

		
			vii)bound to return Tenant’s security deposit, if any, until such deposit has come into its actual possession and Tenant would be entitled to such security deposit pursuant to the terms of this Lease.
		

		
			C.If at any time prior to the expiration of the term, any superior lease shall terminate or be terminated for any reason or any Mortgagee comes into possession of the Land or the Building or the estate created by any superior lease by receiver or otherwise, Tenant agrees, at the election and upon demand of any owner of the Land or the Building, or of the Lessor, or of any Mortgagee in possession of the Land or the Building, to attorn, from time to time, to any such owner, Lessor or Mortgagee or any person acquiring the interest of Owner as a result of any such termination, or as a result of a foreclosure of such Mortgage or the granting of a deed in lieu of foreclosure, upon the then executory terms and conditions of this Lease, subject to the provisions of Section 39B hereof, for the remainder of the term, provided that such owner, Lessor or Mortgagee, as the case may be, or receiver caused to be appointed by any of the foregoing, shall then be entitled to possession of the demised premises.  The provisions of this Section 39C shall enure to the benefit of any such owner, Lessor or Mortgagee, shall apply notwithstanding that, as a matter of law, this Lease may terminate upon the termination of any 
		

		 

		

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		superior lease, and shall be self-operative upon any such demand, and no further instrument shall be required to give effect to said provisions.  Tenant, however, upon demand of any such owner, Lessor or Mortgagee, shall execute, at Tenant’s expense, from time to time, instruments, in recordable form, in confirmation of the foregoing provisions of this Section 39C, reasonably satisfactory to any such owner, Lessor or Mortgagee, acknowledging such attornment and setting forth the terms and conditions of its tenancy.  Nothing contained in this Section 39C shall be construed to impair any right otherwise exercisable by any such owner, Lessor or Mortgagee.
		

		
			D.As long as any superior lease or mortgage shall exist, Tenant shall not seek to terminate this Lease by reason of any act or omission of Owner until Tenant shall have given written notice of such act or omission to all Lessors and Mortgagees at their addresses provided to Tenant, and if any such Lessor or Mortgagee, as the case may be, shall have notified Tenant within ten (10) business days following receipt of such notice of its intention to remedy such act or omission, until a reasonable period of time shall have elapsed following the giving of such notice, during which period such Lessors and Mortgagees shall have the right, but not the obligation, to remedy such act or omission.
		

		
			40.Indemnification and Liability of Owner
		

		
			A.Supplementing Article 8, Tenant shall indemnify and save harmless Owner against and from (a) any and all third-party claims (i) arising from (x) the conduct of business in or management (other than by Owner) of the demised premises or (y) any work or thing whatsoever done, or any condition created (other than by Owner) in or about the demised premises during the term of this Lease or during the period of time, if any, prior to the Commencement Date that Tenant may have been given access to the demised premises pursuant to this Lease, or (ii) arising from any act or omission of Tenant or any of its subtenants or licensees or its or their employees, agents or contractors, and (b) all costs, expenses and liabilities incurred in or in connection with each such third-party claim or action or proceeding brought thereon.  Tenant’s indemnity hereunder shall survive the expiration or any sooner termination of this Lease.  In case any action or proceeding be brought against Owner by reason of any such claim, Tenant, upon notice from Owner, shall resist and defend such action or proceeding by counsel chosen by Tenant who shall be reasonably satisfactory to Owner.  Tenant or its counsel shall keep Owner fully apprised at all times of the status of such defense.  Counsel for Tenant’s insurer shall be deemed satisfactory to Owner.
		

		
			41.Escalation for Real Estate Taxes
		

		
			A.The real estate taxes levied by the City of New York against the Building and the Land for the fiscal year commencing July 1, 2005 shall be the “Base Tax”.  If during the term of this Lease, the real estate taxes levied by the City of New York against the Land and Building shall be greater than the Base Tax, Tenant agrees to pay to Owner, as additional rent, the product of the following:  (x) the amount of the excess of such real estate taxes over the Base Tax; and (y) Tenant’s Proportionate Tax Share.  However, in no event shall Owner have any obligation under this Section 41A in the event that real estate taxes for any fiscal year are less than the Base Tax.
		

		 

		

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			B.(1)In the event that as a result of administrative or court proceedings, the real estate taxes for any fiscal year subsequent to the Base Tax Year shall be reduced, Owner shall make an appropriate payment to the Tenant upon receiving a refund or a tax bill reflecting such reduction from the City of New York, so that the aggregate payment from Tenant to Owner with reference to such fiscal year of the City of New York pursuant to the provisions of this Article shall be brought to the amount which it would have been if the reduced taxes for such fiscal year were the original taxes levied upon the Land and Building; provided, however, that in no event shall the fixed rent payable by Tenant under this Lease in respect of any year be reduced as a result of this Article 41.  If the attorneys for Owner in any administrative or court proceedings succeed or shall have succeeded in reducing the assessed valuation for real estate tax purposes of the Land or the Building for any fiscal year of the City of New York, the whole or any part of which shall be included within the term of this Lease, and as a result of such attorneys’ services there shall be payment by Owner to Tenant or a saving of additional rent payable pursuant to this Article, Tenant agrees to pay to Owner as additional rent, upon demand, for such services (in no event, however, shall such payment exceed the amount of the refund or savings).  The obligation to make the payment required by this Article shall survive the end or termination of the term of this Lease.
		

		
			(2)In the event that as a result of administrative or court proceedings, the Base Taxes shall be reduced, Tenant shall promptly, upon demand, make appropriate payment(s) to Owner reflecting such reduction from the City of New York, so that the aggregate payment from Tenant to Owner with reference to the following fiscal years of the City of New York pursuant to the provisions of this Article shall be brought to the amount which it would have been if the reduced Base Taxes were the original taxes levied upon the Land and Building.  Tenant’s obligation to make such payments shall survive the end or termination of the term of this Lease.
		

		
			C.If the term of this Lease shall end or be terminated (for any reason other than the Tenant’s default) on a day other than the end of a fiscal year of the City of New York and such end or termination shall be during a fiscal year of the City of New York as to which a payment is agreed to be made by Tenant pursuant to the provisions of this Article, then such payment shall be reduced by the proportion thereof which the number of days elapsed from the end or termination of the term hereof to the end of the then current fiscal year of the City of New York bears to 365.
		

		
			D.Any sum payable by Tenant in accordance with this Article shall be paid on or before the last day of the fourth month of the fiscal year of the City of New York to which such payment is applicable.  At least thirty (30) days prior to such due date, Owner shall furnish Tenant with a certified statement of such sum and the calculations on which it is based.  Upon written request of Tenant, Owner shall provide a copy of the relevant underlying tax bill.  The obligation to make such payment shall survive the end or termination of this Lease.  Tenant shall not be required to anticipate payment of its proportionate share of any special Borough-wide assessment levied against the Land and Building unless Owner shall, in its sole discretion, elect to anticipate payment thereof.
		

		
			E.All mention herein of “real estate taxes levied by the City of New York” shall be deemed to refer to the aggregate of all Borough-wide levies against the Land and Building, 
		

		 

		

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		whether called City taxes, City and Borough assessments or by any other term.  Real estate taxes levied by the City of New York shall not be deemed to include (i) any penalties, late charges or fines imposed against Owner with respect to real estate taxes, assessments and the like that are otherwise includable; (ii) any value-added, transfer tax, gains tax, succession, capital stock, excise, excess profits, foreign ownership or control, payroll, stamp tax or mortgage recording tax; (iii) any taxes on Owner’s income; (iv) franchise, corporate and unincorporated business taxes; or (v) estate, gift or inheritance taxes.
		

		
			F.Any dispute arising under this Article shall be submitted to arbitration in accordance with Article 45.  The right to dispute the amount of any sum payable under this Article upon Tenant’s part shall be deemed waived unless the same shall be asserted by service of a notice upon Owner within thirty (30) days of the rendition of a bill or statement therefor.
		

		
			42.Escalations for Increases in Operating Expenses.
		

		
			A.Definitions
		

		
			(1)“Operating Year” means the period of 12 months or less commencing on the Commencement Date and ending on the following December 31st, and each successive period of 12 months thereafter during the Term, and the final period of 12 months or less commencing with January 1st immediately preceding the expiration of the Term.
		

		
			(2)“Operating Statement” means a statement setting forth the amount payable by Tenant for a specified Operating Year (as the case may be) pursuant to this Section.
		

		
			(3)“Operating Expenses” means all expenses paid or incurred by or on behalf of Owner, Owner’s agents and/or their affiliates for the repair, replacement, maintenance, operation, decoration, management and/or security of the Building.  “Operating Expenses” shall not, however, include the following items:
		

		
			i.Interest on and amortization of mortgages encumbering the Building;
		

		
			ii.The cost of tenant improvements made for tenants of the Building other than Building-wide tenant improvements made for the benefit of all tenants in the Building;
		

		
			iii.The cost of any work or services performed for any particular tenant of the Building, to the extent that such work or services are in excess of the work or services which Owner is required to furnish to such tenant under its lease;
		

		
			iv.Real estate taxes.
		

		
			v.Costs (including permit, license, and inspection fees) incurred in renovating, improving, decorating, painting or redecorating vacant space or space for tenants;
		

		 

		

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			vi.Owner’s cost of electricity or other services sold or provided to tenants, other than Tenant, for which Owner is to be reimbursed as a charge over the rent and additional rent payable under the lease with that tenant;
		

		
			vii.Costs incurred because another tenant violated the terms of its lease;
		

		
			viii.Repairs or other work needed because of fire, windstorm, or other casualty or cause insured against by Owner;
		

		
			ix.Any costs, fines, or penalties incurred because Owner violated a governmental rule or authority; (Penalties incurred because Owner was late in making any payment for which Owner was responsible, such as (but not limited to) taxes or payments under an equipment lease;
		

		
			x.Costs of correcting or repairing defects in the Building and/or any associated parking facilities, and/or equipment or the replacement of defective equipment, to the extent all of the foregoing costs are covered by warranties of manufacturers, suppliers or contractors, or are otherwise borne by parties other than Owner;
		

		
			xi.Legal and other expenses incurred in negotiating or enforcing the terms of any tenant lease;
		

		
			xii.Expenses for restoration of the Building required as a result of condemnation, to the extent Owner receives condemnation proceeds or any similar award;
		

		
			xiii.Any expenses for which Owner receives reimbursement from any tenant or any other party other than pursuant to an ops escalation;
		

		
			xiv.Legal fees, space planners’ fees, brokers’ commissions, and other related costs incurred by Owner in connection with leasing space and negotiating leases in the Building;
		

		
			xv.Costs associated with the operation of the business of the entity that constitutes Owner (such as Owner’s general partnership overhead and general administrative overhead) as the same is distinguished from the costs of operation of the Building;
		

		
			xvi.Depreciation on the Building;
		

		
			xvii.Owner’s general overhead expenses not related to the Building;
		

		
			xviii.Contributions to charitable organizations;
		

		
			xix.Costs of installing, operating, or maintaining any specialty service operated by or under Owner including, without limitation, cafeterias, clubs, exercise facilities, smoking rooms, day care centers, or restaurants;
		

		 

		

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			xx.Costs incurred in removing the property of former tenants or occupants of the Building;
		

		
			xxi.Consulting costs and expenses incurred by Owner except and to the extent the same relate directly to the management or operation of the Building;
		

		
			xxii.Costs or fees relating to the defense of Owner’s title to or interest in the Building, or any part thereof; and
		

		
			xxiii.Capital expenditures, except that the cost thereof shall be included in Operating Expenses in an amount equal to the higher of (i) the costs of capital expenditures for the year in which the costs are incurred and for subsequent calendar years amortized on a straight-line basis over the useful life of such improvement as determined in accordance with generally accepted accounting principles and (b) any savings resulting from the installation of such capital expenditures.
		

		
			Owner shall have the right to utilize its own employees for the purpose of performing any services or furnishing any goods in connection with the repair, replacement, maintenance, operation, decoration, management and/or security of the Building.  In addition, Owner shall have the right to employ its affiliates for the purpose of performing any services or furnishing any goods in connection with the repair, replacement, maintenance, operation, decoration, management and/or security of the Project provided, however, that Operating Expenses shall not include the amount of any overhead or profit increment paid to an affiliate of Owner to the extent same exceeds the overhead or profit increment which would be paid in the absence of such affiliation.  If Owner shall eliminate and/or reduce the payment of any of the items includible in Operating Expenses as a result of the installation of labor-saving devices, or by other means, in computing the Additional Rent payable pursuant to this Section, the cost of such labor-saving devices or other means shall be included in Operating Expenses whether or not they would otherwise be includible hereunder.
		

		
			B.Tenant hereby covenants and agrees, during the Term to pay to Owner as Additional Rent at the times hereinafter specified a sum (an “Operating Payment”) equal to Tenant’s Proportionate Operating Share of the amount by which the Operating Expenses for the then current Operating Year exceed the Operating Expenses for 2006.
		

		
			C.If, at any time during any Operating Year in respect of which an Operating Payment is due hereunder, more than 5% of the rentable office space in the Building shall be vacant or unoccupied, Operating Expenses for such period shall be adjusted to reflect Operating Expenses that would have been incurred if 95% of the rentable office space in the Building had been occupied.
		

		
			D.Owner may furnish to Tenant, prior to the commencement of each Operating Year a statement setting forth Owner’s reasonable estimate of Tenant’s Operating Payment for such Operating Year (an “Operating Estimate”).  From and after the Commencement Date, Tenant shall pay to Owner on the first day of each month during each Operating Year in respect of 
		

		 

		

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		which an Operating Payment may be due, an amount equal to 1/12th of the Operating Estimate for such Operating Year.  If, for any reason, Owner shall not furnish to Tenant an Operating Estimate for any Operating Year or if Owner shall furnish an Operating Estimate for an Operating Year subsequent to the commencement thereof:  (i) until the first day of the month following the month in which such Operating Estimate is furnished to Tenant, Tenant shall pay to Owner on the first day of each month an amount equal to 110% of the monthly sum payable by Tenant to Owner under this Section in respect of the last month of the preceding Operating Year; (ii) within 10 days after such Operating Estimate is furnished to Tenant, Tenant shall, if there shall be a deficiency in the installments of an Operating Payment theretofore paid for such Operating Year, pay the full amount thereof or, if there shall have been an overpayment, such overpayment shall be, at Owner’s option, either refunded to Tenant within thirty (30) days or credited against the payment(s) of additional rent next coming due; and (iii) on the first day of the month following the month in which such Operating Estimate is furnished to Tenant and monthly thereafter throughout the remainder of such Operating Year Tenant shall pay to Owner an amount equal to 1/12th of the Operating Payment shown on such Operating Estimate.  Owner may, at any time during any Operating Year, furnish to Tenant a revised Operating Estimate for such Operating Year, and in such case, the Operating Payment for such Operating Year shall be adjusted and paid or refunded or credited as the case may be, substantially in the same manner as provided in the preceding sentence.
		

		
			E.Within 180 days of the expiration of each calendar year, Owner shall submit to Tenant an Operating Statement prepared by Owner, setting forth the Operating Expenses for the preceding Operating Year.  In the event Tenant’s Operating Payment shall be greater or less, respectively, than the aggregate of the Operating Estimate for such Operating Year, then within thirty (30) days after receipt of such Operating Statement, Tenant shall make payment of any unpaid portion of the Operating Payment as additional rent, or any excess paid by Tenant shall be, at Owner’s option, either refunded to Tenant within thirty (30) days or credited against the payment(s) of additional rent next coming due; provided, however, if such refund has not been fully paid or credited prior to the expiration of the term of this lease, Owner shall, provided Tenant is not then in monetary default hereunder or in any other default beyond applicable notice and cure periods, refund to Tenant the unpaid or unapplied balance of such credit, as the case may be, within thirty (30) days after the expiration of the term, which obligation shall survive the expiration or earlier termination of this lease.
		

		
			F.Each Operating Statement shall be conclusive and binding upon Tenant unless within forty-five (45) days after receipt of such Operating Statement Tenant shall notify Owner that Tenant disputes the correctness of such Operating Statement, specifying the particular respects in which the Operating Statement is claimed to be incorrect.
		

		
			G.Tenant or Tenant’s representative (which shall not be compensated on a contingency fee basis) shall have the right, after reasonable notice and during normal business hours, to inspect and photocopy Owner’s records relating to Operating Expenses at the place where Owner regularly maintains those records.  It is expressly understood by Tenant that the information set forth in such records is of a confidential nature and shall only be used for the purpose of verifying such Operating Expenses and shall not otherwise be discussed with or made available to anyone, other than Tenant’s advisors, accountants and attorneys, unless required by law or court order.  Notwithstanding the giving of such notice by Tenant and pending resolution 
		

		 

		

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		of any such dispute, Tenant shall pay to Owner when due the Operating Payment in the amount shown on such Operating Statement as provided above together with all other amounts due under this lease.  Any dispute pursuant hereto shall be submitted to arbitration pursuant to Article 45.  Owner shall keep for a period of three (3) years following the receipt by Tenant of an Operating Statements, complete and accurate books and records with respect to Operating Expenses for such period.  If the resolution of the dispute is that (a) Owner has overcharged Tenant, Owner shall reimburse Tenant the amount of such overcharge within thirty (30) days of demand by Tenant, or (b) Owner has undercharged Tenant, Tenant shall pay Owner the amount of such overcharge within thirty (30) days of Tenant’s receipt of the disputed results.  Tenant shall be solely responsible for the cost of any such inspection, unless such dispute reveals an overcharge to Tenant of more than five (5%) percent.
		

		
			H.In the event that the first and/or last Operating Year shall contain less than 12 months in applying the provisions of this Article 42, appropriate adjustments shall be made to reflect the length of such Operating Year(s).
		

		
			I.Notwithstanding anything to the contrary contained herein, in no event shall Tenant be billed twice under the Lease for any Operating Expenses.
		

		
			43.Restrictions on Signs
		

		
			A.No lettering, sign, advertisement, notice, or object shall be displayed in or on the windows or doors, or on the outside of the demised premises, or at any point inside the demised premises, where the same might be visible outside of the demised premises, except that the name and logotype of Tenant and its subtenants may be displayed on or next to the entrance doors of the demised premises, subject to the approval of Owner (which shall not be unreasonably withheld) as to the size, color, material, style and location of such display.
		

		
			B.Owner shall make available to Tenant ten (10) listings for the Tenant named herein in the lobby directory of the Building.  The initial listings shall be without charge to Tenant.  From time to time, but not more frequently than once every three (3) months, Owner shall make changes to the lobby directory to reflect such changes in the listings therein as Tenant shall request, and Tenant promptly after request shall pay to Owner Owner’s reasonable out-of-pocket costs for each change Tenant requests.  Owner shall install directional signage on the 4th floor visible from the elevator lobby directing visitors to the demised premises.
		

		
			44.Consents
		

		
			A.Wherever in this Lease it is provided that either party shall not unreasonably withhold consent or approval or shall exercise its judgment reasonably, such consent or approval or exercise of judgment (hereinafter referred to collectively as “consent”) shall also not be unreasonably delayed.  If a party considers that the other party has unreasonably withheld or delayed a consent it shall so notify the other party within ten (10) days after receipt of notice of denial of the requested consent, or in case notice of denial is not received within twenty (20) days after making its request for the consent, within ten (10) days after the expiration of such twenty (20) day period; and within ten (10) days after giving the first mentioned notice it may submit the question of whether the withholding or delaying of such consent is unreasonable to 
		

		 

		

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		determination by informal arbitration in the manner provided in Article 45.  Failure to give such first mentioned notice or to make such submission to arbitration within the period hereinabove provided therefor shall preclude any further right to dispute the reasonableness of such withholding of consent.  A consent shall not be deemed to have been unreasonably withheld or delayed unless the aggrieved party complies with the foregoing procedure and it shall be so determined by arbitration as aforesaid.  In the event of such determination, the requested consent shall be deemed to have been granted for all purposes of this Lease; however, except to the extent otherwise provided below in this Section A, the party who shall have refused or failed to give such consent shall not have any liability to the other party therefor and the only remedy for an unreasonable withholding or delaying of consent by either party shall be as provided in this Article.
		

		
			B.Wherever in this Lease or any Exhibit it is provided that the approval of a representative of either party (such as Owner’s engineer or architect or Tenant’s designer or engineer) is required for any particular matter, such approval shall be deemed to be a consent of the party for the purposes of Section A of this Article, provided that a true copy of the notice requesting such approval is given to the party so represented before the other party may claim that such approval has been unreasonably withheld or delayed.
		

		
			C.Whenever Tenant shall submit to Owner any plan, agreement or other document for Owner’s consent or approval and Owner shall require the expert opinion of Owner’s counsel, architect, engineer or other representative or agent of Owner as to the form or substance thereof, Tenant shall pay to Owner, Owner’s reasonable out-of-pocket cost of obtaining such expert opinion within ten (10) days after Owner’s demand therefor.
		

		
			45.Informal Arbitration
		

		
			A.Every dispute between the parties which is specifically provided in this Lease to be determined by informal arbitration shall be submitted to Chairman of the Board of Directors of the Management Division of the Real Estate Board of New York, Inc. (or to such officer of said Real Estate Board or of any similar organization then successor thereto, having like authority or duties), for determination by him or by such other, impartial person or persons as he may designate, and such determination, when made and rendered to the parties in writing, shall be final and conclusive on the parties.  Such submission may be made by either party on notice to the other (“Notice of Dispute”) and the other party may then, within ten (10) days after receipt of the Notice of Dispute present its statement of the matter in dispute (the “Reply”) to such arbitrator, upon notice to the first party.  The expenses of such informal arbitration shall be borne by the parties equally.
		

		
			B.If at the time such dispute is to be submitted neither the Real Estate Board of New York, Inc. nor any such successor organization shall exist, or if at such time the appropriate officer of said Real Estate Board or of such successor organization shall be unwilling or unable to accept the submission, or if despite diligent efforts made in good faith by either party, the arbitrator is not appointed or does not commence hearing the matter within thirty (30) days after the receipt of the Reply, or if the arbitrator to whom the matter is submitted shall fail to render his decision to the parties in writing within sixty (60) days after the receipt of the Reply, then in any such event, at the instance of either party, if the event shall not be due to its fault or neglect, 
		

		 

		

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		the matter in dispute shall be determined by arbitration in the City and County of New York in accordance with the Commercial Arbitration Rules then obtaining of the American Arbitration Association (or any organization then successor thereto).  The expenses of such procedure shall be borne by the parties equally.
		

		
			46.Assignment and Subletting 
		

		
			Supplementing the provisions of Article 11, and in modification and amplification thereof:
		

		
			A.If this Lease be assigned, whether or not in violation of the provisions of this Lease, Owner, may collect rent from the assignee.  If the demised premises or any part thereof be sublet or be used or occupied by anyone other than Tenant whether or not in violation of this Lease, Owner may, after default by Tenant and expiration of Tenant’s time to cure such default, if any, collect rent from the undertenant or occupant.  In either event, Owner may apply the net amount collected to the rents herein reserved, but no such assignment, underletting, occupancy or collection shall be deemed a waiver of any of the provisions of Article 11 or of this Article, or the acceptance of the assignee, undertenant or occupant as a tenant, or a release of Tenant from the further performance by Tenant of Tenant’s obligations under this Lease.  The consent by Owner to assignment, mortgaging, underletting or use or occupancy by others shall not in any way be considered to relieve Tenant from obtaining the express consent of Owner to any other or further assignment, mortgaging or underletting or use or occupancy by others not expressly permitted by this Article.  References in this Lease to use or occupancy by others, that is anyone other than Tenant, shall not be construed as limited to subtenants and those claiming under or through subtenants but as including also licensees and others claiming under or through Tenant, immediately or remotely.
		

		
			B.Any transfer by operation of law or otherwise, of Tenant’s interest in this Lease or of any subtenant’s interest in a sublease hereunder, or, unless Tenant or the subtenant is an entity the securities of which are registered under appropriate statutory authority and listed and traded on a national exchange, of a 50% or greater interest in Tenant, or in a subtenant hereunder (whether stock, partnership interest or otherwise), in a single transaction or a related series of transactions, shall be deemed an assignment of this Lease within the meaning of Article 11 or an assignment of the sublease within the meaning of Article 46, as the case may be.
		

		
			C.(1)If Tenant shall desire to assign this Lease or to sublet the demised premises to anyone other than in connection with a Permitted Transfer (as hereinafter defined), Tenant shall submit to Owner a request for Owner’s consent to such assignment or subletting, which request shall contain or be accompanied by the following:  (i) the name and address of the proposed assignee or subtenant; (ii) a description of Tenant’s improvements included therein; (iii) a fully executed counterpart of the proposed assignment or sublease; (iv) the nature and character of the business of the proposed assignee or subtenant and of its proposed use of the demised premises or part thereof; and (v) current financial information and any other information Owner may reasonably request with respect to the proposed assignee or subtenant.
		

		
			(2)Upon receiving such request, Owner shall have the option, in the case of a proposed sublease to anyone other than in connection with a Permitted Transfer, to sublet from 
		

		 

		

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		Tenant the demised premises for the term proposed and upon all the applicable covenants, agreements, terms, provisions and conditions contained in this Lease, at a rental rate with provisions for additional rent equal to the lesser of (i) as provided in this Lease; or (ii) as provided for in the proposed sublease.  In the event Owner fails to exercise such option by notice to Tenant, in writing, given by certified mail, return receipt requested, within thirty (30) days after Owner’s receipt of the aforesaid request (and all required accompanying information) from Tenant, such option shall terminate with respect to the particular subletting as to which consent shall have been requested by Tenant.  If, however, said option is exercised, Owner, as such subtenant, shall have the right to further sublet the premises without the consent of Tenant and shall also have the right to make any change, alterations and improvements in the demised premises, provided, however, that if such sublease resulting from the exercise of such option shall terminate more than one (1) year prior to the end of the term of this Lease, Owner shall restore the demised premises to substantially their previous condition, reasonable wear and tear excepted.
		

		
			(3)Anything in this Article 46 contained to the contrary notwithstanding, Owner shall have the right, within thirty (30) days after receipt of Tenant’s request (and all required accompanying information) for consent to a proposed sublease or of an assignment of this Lease to anyone other than in connection with a Permitted Transfer, to notify Tenant, in writing, of its intention to recapture the demised premises as of the effective commencement date of the proposed sublease or assignment and, in that event:  (a) Tenant shall vacate and surrender to Owner the demised premises as if said date were the date herein set forth as the termination date of this Lease; and (b) upon Tenant’s vacating and surrendering the demised premises, Owner and Tenant shall have no further liability to each other as of said date, except with respect to any unpaid accrued rent and/or additional rent and except with respect to any other obligation or matter which, by the terms of this Lease, survives the termination of this Lease.
		

		
			For purposes herein, the term “Permitted Transfer” shall mean (i) a transfer to a successor corporation (as hereinafter defined), (ii) a transfer to a related corporation (as hereinafter defined), (iii) any public offering of the stock of Tenant or Tenant’s parent corporation pursuant to the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended (collectively, the “Securities Act”), and/or any state securities laws pursuant to any exemption from the Securities Act, or (iv) any sale or transfer of the stock of Tenant or Tenant’s parent corporation whenever Tenant or Tenant’s parent corporation is a public corporation, the outstanding voting stock of which is registered in accordance with the provisions of the Securities Act and “listed” on the New York Stock Exchange or another recognized, national security exchange.  For purposes hereof, the term “successor corporation” shall mean a corporation or other business entity into or with which Tenant shall be merged, or consolidated, or to which substantially all of Tenant’s assets may be transferred.  For purposes hereof, the term “related corporation” shall mean a corporation or other business entity which shall control, be controlled by or be under common control with Tenant.  Tenant may assign this lease or sublet the demised premises without Owner’s consent (but on not less than ten (10) days’ prior notice to Owner) in connection with a Permitted Transfer and without Owner having the right to recapture as described in Sections C(2) and C(3) of this Article provided that any such assignment or subletting shall be part of a bona fide transaction that is not consummated for the purpose of circumventing the restrictions set forth in this Article and provided further that Tenant shall deliver to Owner:  (a) evidence that such transfer qualifies as a Permitted Transfer; and (b) with 
		

		 

		

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		respect to clauses (iii) and (iv) above, any financial information reasonably requested by Owner.  Notwithstanding anything to the contrary contained in this Article 46, Tenant shall reimburse Owner for any actual out-of-pocket expenses that may be incurred by Owner in connection with a Permitted Transfer as a result of Owner’s review of the items set forth in clauses (a) and (b) above.
		

		
			D.If Owner does not exercise either of its options set forth in Sections C(2) and (3) of this Article, Owner shall either approve or deny the proposed assignment or subletting referred to in Tenant’s notice given pursuant to Section C within such thirty (30) day period (as set forth in Sections C(2) and (3) of this Article), and shall not unreasonably withhold its consent to the proposed assignment or subletting referred to in Tenant’s notice given pursuant to Section C, provided that:
		

		
			(1)The proposed assignee or subtenant is (i) is a reputable entity with a financial standing satisfactory to Owner, (ii) engaged in a business reasonably satisfactory to Owner, and (iii) will use the demised premises as permitted under Article 2 (and otherwise in accordance with this Lease) and in such a manner so as to not violate any negative covenants as to use contained in any other lease made between Owner and other tenant(s) of the Building.
		

		
			(2)In the case of a proposed sublease, it is for either all of the demised premises or for all of Unit C or for all of Unit D (as hereinafter defined).
		

		
			(3)The proposed assignee or subtenant is not then a tenant or occupant of any part of the Building or a corporation or other entity which controls or is controlled by such tenant or occupant or is under common control with such tenant or occupant.
		

		
			(4)If Owner should have, or within three (3) months will have, suitable space available in the Building, the proposed assignee or subtenant shall not then be a prospective tenant with whom Owner shall have been negotiating for the leasing of space in the Building.
		

		
			(5)The proposed assignment or subletting shall be expressly subject to all of the obligations of Tenant under this Lease and the further condition and restriction that the assignment or sublease shall not be assigned, encumbered or otherwise transferred or the premises further sublet by the assignee or sublessee in whole or in part, or any part thereof suffered or permitted by the assignee or sublessee to be used or occupied by others, without the prior consent of Owner in each instance.
		

		
			(6)No subletting shall end later than one day before the Expiration Date of this Lease.
		

		
			(7)Such subletting shall be subject to the express condition, and by accepting a sublease hereunder each subtenant shall be conclusively deemed to have agreed, that if this Lease should be terminated prior to the Expiration Date or if Owner should succeed to Tenant’s estate in the demised premises, then, at Owner’s election, the subtenant shall attorn to and recognize Owner as the subtenant’s landlord under the sublease and the subtenant shall promptly execute and deliver any instrument Owner may reasonably request to evidence such attornment.
		

		 

		

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			(8)There shall be no more than two (2) entities (including Tenant) in the demised premises as a result of any assignment or subletting.
		

		
			(9)Tenant is not in default under this Lease beyond the expiration of applicable notice and cure periods.
		

		
			(10)Tenant shall reimburse Owner for any expenses that may be incurred by Owner in connection with the proposed assignment or sublease including, without limitation, the reasonable out-of-pocket costs of making investigations as to the acceptability of a proposed subtenant and reasonable legal expenses incurred in connection with the granting of any requested consent to the sublease.
		

		
			(11)Tenant shall be required to use Owner’s agent as its agent in respect of the assignment or subletting.
		

		
			E.Tenant shall furnish Owner with a counterpart (which may be a conformed or reproduced copy) of each sublease or assignment made hereunder promptly after the date of its execution.  Tenant shall remain fully liable for the performance of all of Tenant’s obligations hereunder notwithstanding any assignment or subletting provided for herein, and without limiting the generality of the foregoing, shall remain fully responsible and liable to Owner for all acts and omissions of any assignee or subtenant or anyone claiming under or through any assignee or subtenant which shall be in violation of any of the obligations of this Lease and any such violation shall be deemed to be a violation by Tenant.
		

		
			F.Notwithstanding any assignment and assumption by the assignee of the obligations of Tenant hereunder, Tenant herein named, and each immediate or remote successor in interest of Tenant herein named, shall remain liable jointly and severally (as a primary obligor) with its assignee and all subsequent assignees for the performance of Tenant’s obligations hereunder, and, without limiting the generality of the foregoing, shall remain fully and directly responsible and liable to Owner for all acts and omissions on the part of any assignee subsequent to it in violation of any of the obligations of this Lease.
		

		
			G.Notwithstanding anything to the contrary hereinabove set forth, no assignment of this Lease (regardless of whether Owner’s consent thereto is required) shall be binding upon Owner unless the assignee shall execute and deliver to Owner an agreement, in recordable form, whereby such assignee agrees unconditionally to be bound by and to perform all of the obligations of Tenant hereunder and further expressly agrees that notwithstanding such assignment the provisions of this Article shall continue to be binding upon such assignee with respect to all future assignments and transfers.  A failure or refusal of such assignee to execute or deliver such an agreement in recordable form shall not release the assignee from its liability for the obligations of Tenant hereunder assumed by acceptance of the assignment of this Lease.
		

		
			H.(1)If Tenant shall receive any consideration from its assignee for or in consideration of Tenant’s interests in the Tenant’s Changes, then, Tenant shall account to Owner therefor and shall pay over to Owner such consideration as and when such consideration is received.
		

		 

		

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			(2)If Tenant shall receive any rents and/or consideration from its subtenant, which for any period, shall exceed the fixed rent payable under this Lease for the same period; or if Tenant shall receive from its subtenant any consideration for the sale or use of Tenant’s Property or Tenant’s right to use the Tenant’s Changes; then, in each instance Tenant shall account to Owner therefor and shall pay over to Owner fifty percent (50%) of such excess rents and such other consideration, as and when received after deducting (i) Tenant’s actual, out-of-pocket legal and brokerage fees paid to consummate the sublease (not to exceed one full commission) and (ii) free rent granted to the subtenant.
		

		
			I.Notwithstanding anything set forth in this Section 46 to the contrary, Tenant may, at Tenant’s sole cost and expense, without Owner’s prior consent (and without Owner having any right to cancel this Lease or to receive any payment pursuant to this Section 46) but on ten (10) business days prior written notice to Owner, grant licenses to individuals or entities to use up to, in the aggregate, two (2) workstations within the demised premises, provided that:  (i) Tenant shall not alter the demised premises to facilitate such license(s), separately demise any space within the demised premises or otherwise act in any way to cause the demised premises to appear other than as a single tenant space; (ii) Tenant advises Owner in writing at least once annually of any licensee occupying any portion of the demised premises; (iii) such licensee is in a business and required to use the demised premises in a manner compatible with the uses set forth in this Lease; and (iv) the granting of such license shall not create unusual amounts of traffic in the Building.  In no event shall anything contained in this Paragraph:  (1) operate as a consent to or approval by Owner of any of the provisions, covenants or conditions of the license agreement between Tenant and any licensee and Owner shall not be bound thereby; (2) be construed to modify, waive or affect:  (x) any of the provisions, covenants or conditions in this lease; (y) any of Tenant’s obligations under this lease, or to waive any breach thereof; or (z) any rights of Owner under this Lease (except insofar as they are increased in connection with such license agreement(s) and/or the demised premises during the term of any license agreements); or (3) be construed to enlarge or increase Owner’s obligations under this lease, to establish any licensee as a party entitled to the performance or benefit of any of such obligations, or to confer upon any licensee any benefits or legal rights under this lease.  Notwithstanding anything to the contrary contained in this Lease, Tenant may include the names of Tenant’s licensees in the ten (10) building directory listings granted to Tenant under this Lease.
		

		
			J.The demised premises is comprised of two office suites designated as Unit C and Unit D (as indicated on Exhibit D annexed hereto) which, as part of Owner’s Work, shall be combined and modified to form a single premises.  In the event that Tenant desires to sublet less than all of the demised premises, it shall, at its sole cost and expense, divide the demised premises so that Unit C and Unit D are again separate legally demised office suites either (x) configured in the same manner as they were prior to Owner’s Work (the “Original Configuration”) or (y) configured in such other manner as may be approved by Owner in Owner’s sole discretion upon Owner’s receipt of all plans and specifications required pursuant to this Lease.  In the event Tenant requests to configure the space in a manner other than the Original Configuration in accordance with this Lease and Owner so approves, Owner shall notify Tenant together with Owner’s approval of such configuration whether or not Owner shall require Tenant to restore the demised premises to the Original Configuration at the expiration of the term of this Lease.
		

		 

		

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			47.Brokerage
		

		
			A.Tenant and Owner each represents and warrants to the other that it has not dealt with any broker or person in connection with this Lease except Colliers ABR, Inc. and PBS Realty Advisers, LLC (collectively, the “Broker”).  The execution and delivery of this Lease by each party shall be conclusive evidence that such party has relied upon the foregoing representation and warranty.  Each party shall indemnify (the “Indemnitor”) and hold the other party (the “Indemnitee”) harmless from and against any and all claims for commission, fee or other compensation by any person other than the Broker who shall claim to have dealt with the Indemnitor in connection with this Lease and for any and all costs incurred by the Indemnitee in connection with such claims, including, without limitation, reasonable attorneys’ fees and disbursements.  The provisions of this Article shall survive the expiration or prior termination of this Lease.  Owner shall pay Broker its commission pursuant to a separate written agreement.
		

		
			B.Tenant agrees that in the event it shall, during the term of this lease, seek to hire from Owner any additional premises in the Building, it shall seek to do so directly from the Owner without the intervention of any broker or brokers and if Owner and Tenant shall enter into any lease with respect to any such additional premises, Tenant shall be required to indemnify and hold harmless Owner from and against any and all claims or demand for brokerage commissions in connection therewith (excluding any commissions payable by Owner as a result of any exclusive leasing agreements entered into by Owner which may give rise to the obligation to pay such commissions).  Tenant shall have the right, notwithstanding the foregoing, to engage the services of a broker in connection with any leasing referred to in this Section B, provided, however, that in such event Tenant shall be solely responsible for the payment of any and all brokerage commissions in connection therewith and shall pay the same.
		

		
			48.Rent Control
		

		
			If at the commencement of, or at any time(s) during the term of this Lease, the rent(s) reserved in this Lease shall not be fully collectible for reason of any Federal, State, County or City law, proclamation, order or regulation, or direction of a public officer or body pursuant to law, Tenant shall enter into such agreement(s) and take such other steps (without additional expense to Tenant) as Owner may request and as may be legally permissible to permit Owner to collect the maximum rents which may from time to time during the continuance of such legal rent restriction be legally permissible (and not in excess of the amounts reserved therefor under this Lease).  Upon the termination of such legal rent restriction prior to the expiration of the term of this Lease, (a) the rents shall become and thereafter be payable hereunder in accordance with the amounts reserved in this Lease for the periods following such termination, and (b) Tenant shall pay to Owner, if legally permissible, an amount equal to (i) the rents which would have been paid pursuant to this Lease but for such legal rent restriction, less (ii) the rents paid by Tenant to Owner during the period(s) such legal rent restriction was in effect.  Any security deposited by Tenant may be retained by Owner for one year after such termination of this Lease, to secure collection of any amount Owner may be entitled to receive pursuant to clause (b) above.
		

		 

		

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			49.Acceptance of the Demised Premises
		

		
			Tenant has inspected the demised premises and shall take possession of the demised premises “as is”, and Owner shall have no obligation to alter, improve, decorate or otherwise prepare the demised premises for Tenant’s occupancy except that (i) the demised premises shall be delivered vacant, broom clean and with water, HVAC and electric service in good working order; and (ii) Owner shall perform the work as set forth on Exhibit D (“Owner’s Work”).  Owner shall provide Tenant with a Form ACP-5 for the demised premises.  Owner’s Work shall be done in accordance with all applicable legal requirements.
		

		
			50.Tenant’s Alterations
		

		
			A.Tenant shall prepare and shall submit to Owner for its approval complete, finished, detailed and fully dimensioned architectural, electric and engineering plans and drawings (“1/4” scale), and specifications (“Tenant’s Plans”) for all Tenant’s Changes.  Tenant’s Plans shall conform to all applicable Requirements.  Tenant shall reimburse Owner for the reasonable out-of-pocket costs and expenses incurred by Owner in connection with the review and approval of Tenant’s Plans and the supervision of compliance with the requirements of this Lease in connection with Tenant’s Changes.  In the event Owner refuses to approve Tenant’s Plans it shall advise Tenant of those revisions or corrections Owner requires, and Tenant shall promptly thereafter cause revised Tenant’s Plans to be submitted to Owner for its approval.  Tenant acknowledges that Owner’s approval of Tenant’s Plans or of any revisions thereto shall not constitute an opinion or agreement by Owner that the same are adequate or sufficient or in compliance with any Requirements, nor shall such approval impose any present or future liability on Owner, waive any of Owner’s rights or release Tenant from any of its obligations hereunder.  Tenant further acknowledges and agrees that Owner’s approval of Tenant’s Plans shall be conditioned upon Tenant employing licensed persons and firms (where required by law) and labor for the performance of Tenant’s Work which will not cause any jurisdictional or other labor disputes in the Building.  In any event, all contractors or materialmen Tenant proposes to employ shall be subject to Owner’s prior approval, with approval shall not be unreasonably withheld.
		

		
			B.Upon Owner’s approval of Tenant’s Plans, Tenant shall cause Tenant’s Plans (including mechanical plans and specifications) to be filed with the governmental agencies having jurisdiction thereof, in order to obtain, and shall obtain, all governmental permits, approvals, licenses, authorizations, waivers, consents and certificates (collectively, “Permits”) which may be required in connection with the performance of the Tenant’s Changes.  Owner shall with reasonable promptness sign the applications for such Permits prepared by Tenant which require Owner’s signature and Tenant shall indemnify and hold Owner harmless against any claim, cost, liability or expense resulting from any error, omission or other impropriety or deficiency in any such application.  All Tenant’s Changes shall be governed by the provisions of Article 3 and Section 37C(3) as modified and supplemented by this Article.  Tenant’s contractors and suppliers shall move construction materials, supplies and equipment for Tenant’s Changes to the demised premises and to remove construction waste and debris therefrom, by an elevator to be designated by Owner, at times appointed by Owner after normal business hours or on other than business days, giving effect to other previously made appointments.  Tenant’s contractors and suppliers shall pay Owner’s actual cost basis for the use of such elevator except for use 
		

		 

		

			29

		

 

		

			 

		

		during the hours of 8:00 a.m. and 6:00 p.m. Mondays through Fridays.  Such elevator use shall be subject to reasonable scheduling and supervision by Owner.  Tenant shall, and shall cause its contractors and suppliers to, comply with Owner’s rules and regulations, and Owner’s directions for the coordination and control of construction activities in the Building and the protection and security of the Building and its systems and occupants.
		

		
			C.Throughout the performance of any Tenant’s Changes in or about the demised premises, Tenant shall maintain, or cause to be maintained:
		

		
			i)Worker’s Compensation insurance coverage in statutory limits for all eligible workmen engaged in the Tenant’s Changes;
		

		
			ii)Public Liability insurance, of which Owner shall be a named insured, in limits of $1,000,000/$1,000,000 for bodily injury and death, $500,000/$1,000,000 for property damage and $10,000,000 umbrella coverage for bodily injury, death and property damage, which shall also include automobile liability insurance and blanket contract liability coverage for Tenant’s indemnity obligations to Owner under this Lease; and
		

		
			iii)Builder’s All-Risk insurance in an amount equal to the value of the Tenant’s Changes on the completion thereof.
		

		
			Tenant shall submit to Owner, before commencement of any Tenant’s Changes in or about the demised premises, certificates of such Worker’s Compensation, Public Liability and Builder’s All-Risk insurance.
		

		
			D.Tenant shall indemnify and save harmless Owner and its agents (including, without limitation, Colliers ABR, Inc.) from and against any and all third-party claims, actions, liabilities and obligations arising from any work in connection with, or other matters related to, the Tenant Changes.
		

		
			E.Tenant represents and warrants that its use of the demised premises and any Alterations made by or on behalf of Tenant to the demised premises will conform to the all Requirements, including (without limitation) the Americans With Disabilities Act (“ADA”) of July 26, 1990, Publ. L. No. 101-336, 104 Stat. 327, 42 U.S.C. § 12101, et seq., as amended from time to time, and the regulations promulgated pursuant thereto.  Tenant hereby indemnifies and holds Owner harmless from and against any and all third-party claims, damages, suits, liabilities and attorneys’ fees (including, but not limited to appellate attorneys’ fees) asserted against or suffered by Owner in any way relating to or arising from, in whole or in part, an actual or asserted claim that the demised premises, or any portion thereof, is in violation of any Requirements, including (without limitation) the ADA, or any regulations promulgated pursuant thereto.
		

		
			F.In the event at any time subsequent to the execution of this Lease Tenant shall make alterations in the demised premises or install therein devices, machinery and equipment or relocate any thereof in the demised premises, such alterations and/or installations shall be made in such a manner as fully to comply with Local Law No. 5/73 of the City of New York, at the sole cost and expense of Tenant, and the obligation for such compliance and the payment of the 
		

		 

		

			30

		

 

		

			 

		

		costs and expenses thereof shall not be affected in any manner by the Tenant’s obtaining Owner’s consent and approval to any such alteration and/or installation.  All such alterations and/or installations shall be made in such a manner as will not prevent the entire Building from being fully in compliance with said Local Law No. 5/73.
		

		
			51.Insurance
		

		
			A.Tenant shall at all times keep Tenant’s property and all other alterations, installations and improvements made by Tenant in the demised premises now or hereafter included in the demised premises insured under an “all risk” property insurance policy and against such other hazards and risks as Owner may from time to time reasonably designate, for the “full replacement cost” thereof.  Such full replacement cost shall be determined from time to time but not more frequently than once in any twelve (12) calendar month period at the request of Owner or any superior Mortgagee or Lessee by an appraiser, engineer, architect or contractor designated by Owner or such Mortgagee or Lessee.
		

		
			B.In addition to fire, lightning and extended coverage insurance, Tenant will maintain personal injury or property damage insurance, under a policy of general public liability insurance, with such limits as may reasonably be requested by Owner from time to time, but not less than $3,000,000/$3,000,000 in respect to bodily injury or death and $500,000/$1,000,000 for property damage, and $10,000,000 umbrella coverage for bodily injury, death and property damage, and the policy or policies evidencing such insurance shall, include Owner, Owner’s managing agent and any Lessors and Mortgagees (whose name shall have been furnished to Tenant) as additional insureds, but only with respect to liability arising out of the ownership, maintenance or use of the demised premises.
		

		
			C.All policies required to be maintained pursuant to the provisions of this Lease shall be issued by responsible insurance company or companies authorized to do business in the State of New York and approved by Owner.  All policies required to be maintained pursuant to the provisions of this Lease shall have a written undertaking from the insurer to notify all insureds thereunder at least thirty (30) days prior to cancellation thereof.  Tenant may provide any insurance required pursuant to the provisions of this Lease under a so-called blanket policy or policies covering other parties and locations so long as the coverage under such policy or policies is not thereby diminished.  Upon request, Tenant shall furnish Owner with a certificate of insurance evidencing any such policy or a certificate naming Owner, Owner’s managing agent and any Lessors or Mortgagees (whose names have been furnished to Tenant), as additional insureds, as their interests may appear.
		

		
			D.Neither party to this Lease shall be liable for any damage by fire or other peril includable in the coverage afforded by the standard form of fire insurance policy with extended coverage endorsement attached (whether or not such coverage is in effect), no matter how caused, it being understood that the damaged party will look solely to its insurer for reimbursement.  Any waiver of rights contained in this paragraph shall be ineffective if such waiver shall be unobtainable, or result in an increase in the cost of insurance of the waiving party, unless the other party shall pay such increase within ten (10) days after notice thereof.
		

		 

		

			31

		

 

		

			 

		

		
			52.Miscellaneous Additional Provisions
		

		
			A.This lease is offered for signature by Tenant and it is understood that this Lease shall not be binding upon Owner or Tenant unless and until Owner and Tenant shall each have executed and unconditionally delivered a fully executed copy of this Lease to the other.
		

		
			B.This lease shall be deemed to have been made in New York County, New York, and shall be construed in accordance with the laws of the State of New York.  All actions or proceedings relating, directly or indirectly, to this Lease shall be litigated only in courts located within the County of New York.  Tenant, and its successors and assigns hereby subject themselves to the jurisdiction of any state or federal court located within such county, waive the personal service of any process upon them in any action or proceeding therein and consent that such process be served by certified or registered mail, return receipt requested, directed to the Tenant and any successor at Tenant’s address hereinabove set forth, and to any assignee at the address set forth in the instrument of assignment.  Such service shall be deemed made three (3) business days after such process is so mailed.
		

		
			C.All agreements provided for in this Lease, whether between the parties or between either or both of the parties hereto and one or more other parties shall be in writing.
		

		
			D.Subject to force-majeure, Tenant shall have access to the demised premises 24 hours per day, seven days per week, 365 days per year.
		

		
			53.Change of Location
		

		
			A.Tenant covenants and agrees that Owner shall at any time but not more than once during the term of this lease have the absolute and unqualified right, upon not less than sixty (60) days’ notice to Tenant to designate as the demised premises any comparably sized and configured part of any other floor above the first floor in the Building which such part shall include comparable common areas (e.g. bathrooms, elevator access corridors).  Such notice shall specify and designate the space so substituted for the demised premises.  Notwithstanding such substitution of space, this lease and all the terms, provisions, covenants and conditions contained in this lease shall remain and continue in full force and effect, except that the demised premises shall be and be deemed to be such substituted space (hereinafter called the “Substituted Space”), with the same force and effect as if the Substituted Space were originally specified in this lease as the premises demised hereunder.
		

		
			B.In the event of the substitution of space as specified in this Article, Owner shall, at Owner’s expense, prepare the Substituted Space in substantially the same manner as the demised premises were theretofore prepared and shall have the right to remove from the demised premises any telephone and communications lines, floor coverings, wallcoverings, cabinet work, and/or any other decorations or improvements to the Substituted Space.  In addition, Owner shall reimburse Tenant for Tenant’s reasonable actual out-of-pocket expenses for moving Tenant’s furniture, equipment, office contents, telephone and computer equipment to the Substituted Space (it being the intent of both parties that Tenant incur no cost or expense in connection with the foregoing items) and the cost of telecommunications work required in respect of such move.
		

		 

		

			32

		

 

		

			 

		

		
			C.As soon as Owner has completed preparing the Substituted Space, Tenant shall move to the Substituted Space (it being agreed that Tenant shall be afforded permission to move its offices after 5:00 PM to the Substituted Space), and upon the failure of Tenant to so move to the Substituted Space, Owner may, as Tenant’s agent, remove Tenant from the demised premises to the Substituted Space.
		

		
			D.Following any substitution of space pursuant to this Article, Owner and Tenant shall, promptly at the request of either party, execute and deliver an agreement confirming such substitution of space.
		

		
			54.Addendum to Article 34.
		

		
			A.In lieu of the cash security deposit provided for in Article 34 hereof, Tenant has delivered to Owner and, shall, except as otherwise provided herein maintain in effect at all times during the term hereof, an irrevocable letter of credit, in the form attached hereto and made a part hereof as Exhibit E, in the amount of $210,432 issued by a banking corporation reasonably satisfactory to Owner and having its principal place of business or its duly licensed branch or agency in the City of New York, it being understood and agreed that Tenant shall not have the right to fulfill its obligations with respect to the security to be deposited hereunder by way of a cash payment on account of either the initial security required to be deposited by Tenant hereunder or any replacement or substitution of, or addition to, such security deposit in whole or in part at any time during the term hereof.  Such letter of credit shall have an expiration date that is no earlier than ninety (90) days after the Expiration Date.  If notwithstanding the foregoing, such letter of credit shall for any reason whatsoever expire or have an earlier expiration date than required, then a subsequent or extension letter of credit in the amount of the then expiring letter of credit and otherwise acceptable to Owner shall be delivered by Tenant to Owner at least forty-five (45) days prior to the expiration date of the letter of credit it is replacing, time being of the essence (each such letter of credit and such extensions or replacements thereof, as the case may be, is hereinafter referred to as a “Security Letter”).  If Tenant shall fail to obtain any replacement of a Security Letter within the time limits set forth in this Section 54A Owner may, without notice to Tenant, draw down the full amount of the existing Security Letter and retain the same as security hereunder.
		

		
			B.In the event Tenant defaults in respect to any of the terms, provisions, covenants and conditions of this Lease beyond expiration of applicable notice and cure periods, including, but not limited to, the payment of fixed rent and additional rent, Owner may use, apply or retain the whole or any part of the security so deposited to the extent required for the payment of any fixed rent and additional rent or any other sum as to which Tenant is in default or for any sum which Owner may expend or may be required to expend by reason of Tenant’s default in respect of any of the terms, provisions, covenants, and conditions of this Lease, including but not limited to, any damages or deficiency accrued before or after summary proceedings or other re-entry by Owner.  To insure that Owner may utilize the security represented by the Security Letter in the manner, for the purpose, and to the extent provided in this Article 54, each Security Letter shall provide that the full amount thereof may be drawn down by Owner upon the presentation to the issuing bank of Owner’s draft drawn on the issuing bank without accompanying memoranda or statement of beneficiary.
		

		 

		

			33

		

 

		

			 

		

		
			C.In the event that Tenant defaults in respect of any of the terms, provisions, covenants and conditions of this Lease beyond expiration of all applicable notice and cure periods and Owner utilizes all or any part of the security represented by the Security Letter but does not terminate this Lease as provided in Articles 17 or 37 hereof, Owner may, in addition to exercising its rights as provided in Section 54B hereof, retain the unapplied and unused balance of the principal amount of the Security Letter as security for the faithful performance and observance by Tenant thereafter of the terms, provisions, and conditions of this Lease, and may use, apply, or retain the whole or any part of said balance to the extent required for payment of fixed rent, additional rent, or any other sum as to which Tenant is in default or for any sum which Owner may expend or be required to expend by reason of Tenant’s default in respect of any of the terms, covenants, and conditions of this Lease.  In the event Owner applies or retains any portion or all of the security delivered hereunder, Tenant shall forthwith restore the amount so applied or retained so that at all times the amount deposited shall be not less than the security required by Article 34.
		

		
			D.In the event that Tenant shall fully and faithfully comply with all of the terms, provisions, covenants and conditions of this Lease, the security shall be returned to Tenant after the date fixed as the end of the lease and after delivery of entire possession of the demised premises to Owner.  Every letter of credit deposited with Owner hereunder shall be transferable by its terms without charge to Owner or the transferee and shall name Owner or any assignee of Owner as the beneficiary thereunder.  In the event of a sale of the Land and Building or leasing of the Building, Owner shall have the right to transfer any interest it may have in the Security Letter to the vendee or lessee and Owner shall, upon such transfer, be released by Tenant from all liability for the return of such Security Letter, and Tenant agrees to look solely to the new landlord for the return of said Security Letter; and it is agreed that the provisions hereof shall apply to every transfer or assignment made of the Security Letter to a new landlord.  Tenant further covenants that it will not assign or encumber or attempt to assign or encumber the monies deposited herein as security and that neither Owner nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance.  In the event of a sale of the Building Owner shall have the right to require Tenant to deliver a replacement Security Letter naming the new landlord as beneficiary and, if Tenant shall fail to timely deliver the same, to draw down the existing Security Letter and retain the proceeds as security hereunder until a replacement Security Letter is delivered.
		

		
			E.Reduction of Security Deposit.
		

		
			(1)At any time after the sixtieth (60th) month after the Rent Commencement Date, upon written request of Tenant, provided that:  (i) Tenant is not then in default hereunder; and (ii) Tenant has not more than twice during the term hereof made any payments of rent later than the tenth (10th) day following the day that such payments were due, the amount of security on deposit with Owner under this Lease shall be reduced to an amount equal to five months of the then monthly fixed rent.  Owner agrees that upon such occurrence, Owner, at Tenant’s sole cost and expense, will cooperate with Tenant to amend any letter of credit then on deposit with Owner to reflect the reduced amount, provided that such amended letter of credit conforms to the requirements of Paragraph (A) of this Article and is otherwise in form and substance satisfactory to Owner.
		

		 

		

			34

		

 

		

			 

		

		
			(2)At any time after the ninety-sixth (96th) month after the Rent Commencement Date, upon written request of Tenant, provided that:  (i) Tenant is not then in default hereunder; and (ii) Tenant has not more than twice during the term hereof made any payments of rent later than the tenth (10th) day following the day that such payments were due, the amount of security on deposit with Owner under this Lease shall be reduced to an amount equal to four months of the then monthly fixed rent.  Owner agrees that upon such occurrence, Owner, at Tenant’s sole cost and expense, will cooperate with Tenant to amend any letter of credit then on deposit with Owner to reflect the reduced amount, provided that such amended letter of credit conforms to the requirements of Paragraph (A) of this Article and is otherwise in form and substance satisfactory to Owner.
		

		

		

		 

		

			35

		

 

		

			 

		

		J.A.B. MADISON HOLDINGS, L.L.C. 
		

		
			 
		

		
			By:  J.A.B. Madison Management Corp.
		

		
			 
		

		
			By:  Shira Nadich Levin
Name:  Shira Nadich Levin
		

		
			Title:  President
		

		
			 
		

		
			 
		

		
			BANKRATE, INC.
		

		
			 
		

		
			By:  Robert J. DeFranco
Name:  Robert J. DeFranco
		

		
			Title:Senior Vice President
		

		
			Chief Financial Officer
		

		
			 
		

		 

		

			36Exhibit 1031

		

			Exhibit 10.31

		

		
			OFFICE LEASE
		

		
			THIS OFFICE LEASE (the “Lease”) is made and entered into as of the Date of this Lease, by and between Landlord and Tenant.  “Date of this Lease” shall mean the date on which the last one of the Landlord and Tenant has signed this Lease.  
		

		
			W I T N E S S E T H:
		

		
			Subject to and on the terms and conditions of this Lease, Landlord leases to Tenant and Tenant hires from Landlord the Premises.
		

			
	
			
				 1.
			BASIC LEASE INFORMATION AND DEFINED TERMS.  The key business terms of this Lease and the defined terms used in this Lease are as follows: 

			
	
			
				 1.1
			Landlord.  3801 PGA ACQUISITION COMPANY, a Delaware corporation authorized to transact business in Florida. 

			
	
			
				 1.2
			Tenant.  BANKRATE, INC., a Delaware corporation authorized to transact business in Florida. 

			
	
			
				 1.3
			Building.  The building containing the Premises located at 3801 PGA Boulevard, Palm Beach Gardens, Florida 33410. The Building is located within the Project.

		
			Project.  The parcel of land and the buildings and improvements located on such land known as Financial Center at the Gardens located at 3801 PGA Boulevard, Palm Beach Gardens, Palm Beach County, Florida.  The Project is legally described in EXHIBIT “A” to this Lease.
		

			
	
			
				 1.4
			Premises.  Suite Nos. 555 and 510 on the fifth floor of the Building.  The Premises are depicted in the sketch attached as EXHIBIT “B”.  Landlord reserves the right to install, maintain, use, repair, and replace pipes, ducts, conduits, risers, chases, wires, and structural elements leading through the Premises in locations that will not materially interfere with Tenant’s use of the Premises.

			
	
			
				 1.5
			Rentable Area of the Premises.  25,960 square feet.  This square footage figure includes an add-on factor for Common Areas in the Building and has been agreed upon by the parties as final and correct and is not subject to challenge or dispute by either party.  The Premises includes balcony space the area of which is not included in the Rentable Area.

			
	
			
				 1.6
			Permitted Use of the Premises.  General office purposes only (see the Use article of this Lease).

			
	
			
				 1.7
			Commencement Date.  The earlier to occur of (i) date of Substantial Completion of the Tenant Improvements by Tenant, or (ii) December 1, 2014. 

			
	
			
				 1.8
			Substantial Completion.  The date that a Certificate of Occupancy or its equivalent, including a Certificate of Completion or Certificate of Final Inspection, is issued by the appropriate local government entity concerning the Tenant Improvements, or, if no such Certificate will be issued for the Tenant Improvements, the date on which the Tenant Improvements are substantially completed so that Tenant may use the Premises for their intended purpose, notwithstanding that punch-list items or insubstantial details concerning construction, decoration, or mechanical adjustment remain to be performed.

			
	
			
				 1.9
			Lease Term.  A term commencing on the Commencement Date and continuing for 144 full calendar months and eight (8) days (plus any partial calendar month in which the Commencement Date falls), as extended or sooner terminated under the terms of this Lease.  If the Commencement Date falls on a day other than the first day of a month, then for purposes of calculating the length of the Lease Term, the first month of the Lease Term shall be the month immediately following the month in which the Commencement Date occurs. Tenant shall pay prorated Rent calculated on a per diem basis for the partial month in which the Commencement Date occurs. Notwithstanding the Lease Term, Landlord agrees to provide Tenant with access to, and exclusive possession of, the Premises and non-exclusive use of the Common Areas upon the Date of this Lease (provided Tenant has delivered to Landlord required Certificates of Insurance) for the purpose of Tenant’s commencement of the Tenant Improvements.  In connection therewith, from the Date of this Lease until the Commencement Date, Tenant shall observe all terms and conditions of this Lease except the requirement to pay Rent.

		 

		

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				 1.10
			Base Rent.  The following amounts:

			
					
						Period

					
					
						Rate P/S/F Per Annum

					
					
						Monthly Base Rent

					
					
						Period Base Rent

				
	
					
						Months 1 – 12

					
					
						$21.00

					
					
						$45,430.00

					
					
						$545,160.00*

				
	
					
						Months 13 – 24

					
					
						$21.68

					
					
						$46,906.48

					
					
						$562,877.70*

				
	
					
						Months 25 – 36

					
					
						$22.38

					
					
						$48,415.40

					
					
						$580,984.80*

				
	
					
						Months 37 – 48

					
					
						$23.11

					
					
						$49,994.63

					
					
						$599,935.60

				
	
					
						Months 49 – 60

					
					
						$23.86

					
					
						$51,617.13

					
					
						$619,405.60

				
	
					
						Months 61 – 72

					
					
						$24.64

					
					
						$53,304.53

					
					
						$639,654.40

				
	
					
						Months 73 – 84

					
					
						$25.44

					
					
						$55,035.20

					
					
						$660,422.40

				
	
					
						Months 85 – 96

					
					
						$26.27

					
					
						$56,830.77

					
					
						$681,969.20

				
	
					
						Months 97 – 108

					
					
						$27.12

					
					
						$58,669.60

					
					
						$704,035.20

				
	
					
						Months 109 – 120

					
					
						$28.00

					
					
						$60,573.33

					
					
						$726,880.00

				
	
					
						Months 121 – 132

					
					
						$28.91

					
					
						$62,541.97

					
					
						$750,503.60

				
	
					
						Months 133 – 144

					
					
						$29.85

					
					
						$64,574.58

					
					
						$774,894.96

				
	
					
						Month 145

					
					
						$30.82

					
					
						$66,673.93

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				

		
			*See Section 4.2
		

		
			 
		

		
			Base Rent amounts shown above do not include applicable sales tax, which shall be paid by Tenant together with payments of Base 
		

		
			Rent as set forth in Section 4.
		

		
			 
		

			
	
			
				 1.11
			Allocated Share.  13.75%.  This share is a stipulated percentage, agreed upon by the parties, and constitutes a material part of the economic basis of this Lease and the consideration to Landlord in entering into this Lease.  Landlord may readjust the Allocated Share from time to time based on changes in the rentable area of the Building.

			
	
			
				 1.12
			Security Deposit.  $74,939.60, to be paid to Landlord upon execution of this Lease by Tenant.

			
	
			
				 1.13
			Prepaid Rent.  $74,939.60 (Base Rent, Operating Costs and sales tax for the first month of the Lease Term for which rent is due and not abated), to be paid to Landlord upon execution of this Lease by Tenant.

			
	
			
				 1.14
			Tenant’s Notice Address.  All notices to Tenant under this Lease should be sent to: Bankrate, Inc., 477 Madison Ave., Suite 430, New York, NY  10022, Attn:  Legal Department.  

			
	
			
				 1.15
			Landlord’s Notice Address.  

			
					
						For all Notices:

					
					
						With a copy to:

				
	
					
						3801 PGA Acquisition Company

					
						c/o Cushman & Wakefield of Florida, Inc.

					
						3801 PGA Boulevard, Suite 104

					
						Palm Beach Gardens, FL 33410

					
						Attention:  Property Manager

					
						Telephone:  561.625.6858

					
						 

					
					
						3801 PGA Acquisition Company

					
						c/o JPMorgan Asset Management

					
						NY1-K150

					
						270 Park Avenue, 7th Floor

					
						New York, NY 10017

					
						Attention:Robert G. Stephens -

					
						Financial Center at the Gardens

					
						Telephone:  212.648.2148

					
						 

				

			
	
			
				 1.16
			Landlord’s Address for Payments.  3801 PGA ACQUISITION COMPANY, P.O. Box 405334, Atlanta, GA 30384-5334.

			
	
			
				 1.17
			Tenant Improvement Cost.  $1,168,200.00 pursuant to EXHIBIT “E” of this Lease.

			
	
			
				 1.18
			Landlord’s Broker.  Cushman & Wakefield of Florida, Inc.

			
	
			
				 1.19
			Tenant’s Broker.  Transwestern Commercial Services Florida, LLC d/b/a Transwestern.

		 

		

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				 1.20
			Guarantor.  None.

			
	
			
				 1.21
			Parking Spaces. Total Spaces: 105 covered unreserved spaces in the Building parking garage.

			
	
			
				 1.22
			Business Days.  All days other than Saturdays, Sundays, or Legal Holidays.

			
	
			
				 1.23
			Legal Holidays.  New Year’s Day, Memorial Day, Fourth of July, Labor Day, Thanksgiving Day, and Christmas Day.

			
	
			
				 2.
			TERM.  Tenant shall have and hold the Premises for the Lease Term.  The Lease Term shall commence on the Commencement Date.  Landlord shall determine the Commencement Date as provided in Basic Lease Information and Defined Terms article of this Lease and shall notify Tenant of the date so determined.  Tenant shall, if Landlord so requests, thereafter execute and return within ten days a letter confirming the Commencement Date and the expiration date of this Lease.

			
	
			
				 3.
			USE.  Following Substantial Completion of the Tenant Improvements, Tenant shall continuously use and occupy the Premises only for the Permitted Use of the Premises.  Tenant shall not use or permit or suffer the use of the Premises for any other business or purpose.  Tenant shall conform to the Rules and Regulations. “Rules and Regulations” shall mean the rules and regulations for the Building promulgated by Landlord from time to time.  The Rules and Regulations which apply as of the Date of this Lease are attached as EXHIBIT “D”.

			
	
			
				 4.
			RENT.  

			
	
			
				 4.1
			General.  Tenant shall pay Rent to Landlord in lawful United States currency.  All Base Rent and additional rent for Operating Costs shall be payable in monthly installments, in advance, beginning on the Commencement Date (subject to Prepaid Rent paid pursuant to Article 1 and Rent Abatement as defined and set forth in Article 4.2 hereinbelow), and continuing on the first day of each and every calendar month thereafter during the Lease Term.  Unless otherwise expressly provided, all monetary obligations of Tenant to Landlord under this Lease, of any type or nature, other than Base Rent, shall be denominated as additional rent.  Except as otherwise provided, all additional rent payments  (other than Operating Costs which are due together with Base Rent) are due ten days after delivery of an invoice.  Tenant shall pay monthly to Landlord any sales, use, or other tax (excluding state and federal income tax) now or hereafter imposed on any Rent due under this Lease.  The term “Rent” when used in this Lease includes Base Rent and all forms of additional rent.  All Rent shall be paid to Landlord without demand, setoff, or deduction whatsoever, except as specifically provided in this Lease, at Landlord’s Address for Payments, or at such other place as Landlord designates in writing to Tenant.  Tenant’s obligations to pay Rent are covenants independent of the Landlord’s obligations under this Lease.  

			
	
			
				 4.2
			Rent Abatement.  Tenant shall have a Rent credit in the amount of the Base Rent and the additional rent for Tenant’s Allocated Share of Operating Costs owed for the first twenty-four (24) full calendar months plus eight (8) days (“Free Rental Period”) of the Lease Term (“Rent Abatement”), which credit shall be applied to the installments of Base Rent and the additional rent for Tenant’s Allocated Share of Operating Costs due for those months.  Accordingly, subject to Prepaid Rent paid pursuant to Article 1, if the Commencement Date occurs on a day other than the first day of the month, the prorated Rent for the first partial month of the Lease Term shall be due on the Commencement Date and the rent abatement period shall commence on the first day of the first full calendar month of the Lease Term and shall expire on the eighth (8th) day after the last day of the twenty-fourth (24th) full calendar month of the Lease Term.  Landlord has provided the Rent Abatement to Tenant as a material inducement for Tenant to pay for and perform the Tenant Improvements upon the Premises in accordance with EXHIBIT “E”, which Tenant has agreed to perform at its sole cost and expense in lieu of Landlord performing a build-out of the Premises and providing a customary tenant improvement allowance to Tenant for the same.    If after Tenant has been granted all or any portion of the Rent Abatement, the Lease Term is terminated by virtue of a default by Tenant or Landlord resumes possession of the Premises consequent upon a default by Tenant, and Landlord is precluded by applicable law from collecting the full amount of damages attributable to the default as provided in the Default section of this Lease, then, in addition to all other available damages and remedies, Landlord shall also be entitled to recover from Tenant the unamortized portion (calculated using an interest rate of 10% per annum compounded monthly) of the Tenant Improvement Cost, which sum shall not be deemed rent.  This obligation to pay the rent credit shall survive the expiration or sooner termination of the Lease Term.

		 

		

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				 5.
			OPERATING COSTS.

			
	
			
				 5.1
			General.  Tenant shall pay to Landlord its Allocated Share of Operating Costs in accordance with the terms and provisions of this article and based on the following.

			
	
			
				 5.2
			Defined Terms.  The following terms shall have the following definitions:

			
	
			
				 5.2.1
			“Real Estate Taxes” shall mean the total of all taxes, assessments, and other charges by any governmental or quasi-governmental authority that are assessed, levied, or in any manner imposed on the Project, including all charges on the tax bills for the Project, real and personal property taxes, special district taxes and assessments, franchise taxes, solid waste assessments, and non-ad valorem assessments or charges.  If a tax shall be levied against Landlord in substitution in whole or in part for the Real Estate Taxes or otherwise as a result of the ownership of the Project, then the other tax shall be deemed to be included within the definition of “Real Estate Taxes”.  “Real Estate Taxes” also includes all costs incurred by Landlord in contesting the amount of the assessment of the Project made for Real Estate Tax purposes, including attorneys’, consultants’, and appraisers’ fees.  

			
	
			
				 5.2.2
			“Operating Costs” shall mean the total of all of the costs incurred by Landlord relating to the ownership, operation, and maintenance of the Project and the services provided tenants in the Project.  By way of explanation and clarification, but not by way of limitation, Operating Costs will include the costs and expenses incurred for the following: Real Estate Taxes; pest control; trash and garbage removal (including dumpster rental); porter and matron service; security; Common Areas decorations; repairs, maintenance, and alteration of building systems, Common Areas, and other portions of the Project to be maintained by Landlord; amounts paid under easements or other recorded agreements affecting the Project, including assessments by property owners’ or condominium associations; repairs, maintenance, replacements, and improvements that are appropriate for the continued operation of the Project as a first-class building; improvements in security systems; materials, tools, supplies, and equipment to enable Landlord to supply services that Landlord would otherwise have obtained from a third party; costs for improvements made to the Project which, although capital in nature, are expected to reduce the normal operating costs (including all utility costs) of the Project, as amortized using a commercially reasonable interest rate over the time period reasonably estimated by Landlord to recover the costs thereof taking into consideration the anticipated cost savings, as determined by Landlord using its good faith, commercially reasonable judgment, as well as capital improvements made in order to comply with any law hereafter promulgated by any governmental authority, or any amendment to or any interpretation hereafter rendered with respect to any existing law that have the effect of changing the legal requirements applicable to the Project from those currently in effect, as amortized using a commercially reasonable interest rate over the useful economic life of such improvements as determined by Landlord in its reasonable discretion; landscaping, including fertilization and irrigation supply, parking area maintenance and supply; property management fees (not to exceed four percent (4%) of gross revenues from the Project); an on-site management office; all utilities serving the Project and not separately billed to or reimbursed by any tenant of the Project; cleaning; window washing, and janitorial services; all insurance customarily carried by owners of comparable buildings or required by any mortgagee of the Project; supplies; service and maintenance contracts for the Project; wages, salaries, and other benefits and costs of employees of the Landlord up to and including the Building manager (including a pro rata share only of the wages and benefits of employees who are employed at more than one building, which pro rata share shall be determined by Landlord and shall be based on Landlord’s estimate of the percentage of time spent by the employees at the Project); legal, accounting, and administrative costs; and uniforms and working clothes for employees and the cleaning of them.  Landlord may contract for the performance of some or all of the management and maintenance functions generally described in this section with entities that are affiliated with Landlord.  In no event shall Operating Costs include:  (i) depreciation;  (ii) costs of tenant improvements incurred in renovating leased space for the exclusive use of a particular tenant; (iii) brokers' commissions; (iv) ground lease payments, mortgage principal or interest; (v) capital expenses other than:  (a) those which, under generally accepted accounting principles, with deviations from such principles which are customary in the real estate industry, are expenses or regarded as deferred expenses, (b) those designed to result in savings or reductions in Operating Costs, (c) those required by any law that becomes effective (by enactment or interpretation) after the Date of this Lease, (d) expenditures for materials, tools, supplies, and equipment purchased or leased by Landlord to enable Landlord to supply services that Landlord would otherwise have obtained from a third party, (e) those not reimbursed by insurance and related to a casualty, or required by any insurer of the Project, and (f) other items that may be otherwise categorized as capital expenditures but which in the real estate industry are customarily considered maintenance and repair items, such as painting of Common Areas, light bulb replacement, replacement of carpet in elevator lobbies, and the like.  In any of the situations described in (b) – (e) above, the cost of the capital improvements or expenditures shall be included in Operating Costs for the year in which the costs are incurred and subsequent years, amortized on a straight line basis over an appropriate period, but in no event more than ten years, with an interest factor equal to 10%; (vi) costs of repairs or other work to the extent Landlord is reimbursed by insurance or condemnation proceeds; (vii) utilities or other services charged directly to, or paid directly by, a tenant of the Project other than as a part of the Operating Costs; (viii) fines, interest and 
		

		 

		

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			penalties incurred due to the late payment of Operating Costs; (ix) organizational expenses associated with the creation and operation of the entity which constitutes Landlord; (x) any penalties or damages that Landlord pays to Tenant under this Lease or to other tenant in the Project under their respective leases; (xi) reserves; (xii) legal fees due to Legal fees due to costs of defending any lawsuits with any mortgagee, costs of selling, syndicating, financing, mortgaging, or hypothecating any of the Landlord’s interests in the Project, costs of any disputes between Landlord and its employees (if any) not engaged in Project operations, disputes of Landlord with the Project management company, or outside fees paid in connection with disputes with other tenants, and costs to prepare deal memos, leases, consents and the like; and (xiii) financing and refinancing costs.

			
	
			
				 5.3
			Variable Operating Costs.  If during any year the entire Building is not occupied or Landlord is not furnishing utilities or services to all of the premises in the Building, then the Variable Operating Costs for such year shall be “grossed up” (using reasonable projections and assumptions) to the amounts that would apply if 95% of the Building were occupied and all of the premises in the Building were provided with the applicable utilities or services.  Variable Operating Costs are Operating Costs that are variable with the level of occupancy of the Building (such as janitorial services, utilities, refuse and waste disposal, and management fees).

			
	
			
				 5.4
			Payment.  Landlord shall reasonably estimate the Operating Costs that will be payable for each calendar year.  Tenant shall pay one-twelfth of its Allocated Share of the estimated Operating Costs monthly in advance, together with the payment of Base Rent.  Should any assumptions used in creating a budget change, Landlord may adjust the estimated monthly Operating Costs payments to be made by Tenant by notice to Tenant.  After the conclusion of each calendar year, Landlord shall furnish Tenant a detailed statement of the actual Operating Costs for the year; and an adjustment shall be made between Landlord and Tenant with payment to or repayment by Landlord, as the case may require.  Tenant waives and releases any and all objections or claims relating to Operating Costs for any calendar year unless, within 180 days after Landlord provides Tenant with the annual statement of the actual Operating Costs for the calendar year, Tenant provides Landlord notice that it disputes the statement and specifies the matters disputed.  If Tenant disputes the statement then, Tenant shall continue to pay the Rent in question to Landlord in the amount provided in the disputed statement pending resolution of the dispute. 

			
	
			
				 5.5
			Alternate Computation.  Instead of including in Operating Costs certain costs, Landlord may bill Tenant and Tenant shall pay for those costs in any one or a combination of the following manners:  (a) direct charges for services provided for the exclusive benefit of the Premises that are subject to quantification; (b) based on a formula that takes into account the relative intensity or quantity of use of utilities or services by Tenant and all other recipients of the utilities or services, as reasonably determined by Landlord; or (c) pro rata based on the ratio that the Rentable Area of the Premises bears to the total rentable area of the tenant premises within the Building that are benefited by such costs.

		
			Audit Rights.  Provided Tenant has paid the disputed statement and is not otherwise in default under this Lease, within 60 days following delivery of Tenant’s notice of dispute, Tenant may, upon 30 days’ prior written notice to Landlord, examine Landlord’s books and records pertaining to Operating Costs covered by the disputed statement.  The examination shall be conducted at the place where the books and records are maintained, shall be conducted during regular business hours, shall be restricted to one examination per calendar year, and shall be at the sole cost and expense of Tenant.  Tenant shall reimburse Landlord for the costs of photocopying or transferring to digital media any books and records requested by Tenant in an amount equal to the actual cost charged to Landlord by third party copy services or $.25 per page should the copies be made with Landlord’s photocopying equipment.  If it is finally determined that the disputed statement contains an error in an amount in excess of 5% of the total amount of the statement, Landlord shall pay the reasonable out-of-pocket costs of Tenant for the examination.  In no event shall Landlord be obligated to pay any of Tenant’s costs which are calculated on a percentage of the recovery by Tenant or any other contingency based fees.  As a condition to Tenant’s right of examination, Tenant and all of its consultants shall, prior to the examination, execute a confidentiality agreement; providing, without limitation, that the information contained in Landlord’s books and records, any other information obtained from the examination (including, without limitation, costs, expenses, and income) as well as any compromise, settlement, or adjustment reached between Landlord and Tenant shall remain confidential and may not be disclosed by Tenant or its consultants to any other person, specifically including, but not limited to, other tenants of the Building and that Tenant and all of its consultants shall indemnify Landlord from any claims or expenses arising from a breach by them of the Confidentiality Agreement.  Examinations may only be conducted by an employee of Tenant or a national or regional accounting firm who is not being compensated based on a percentage of the recovery by Tenant or on any other contingency fee basis.  The certified public accountant performing the examination must be licensed to practice in the state in which the Building is located.  Within 90 days following delivery of Tenant’s notice of dispute, Tenant shall have the right to give Landlord written notice stating in reasonable detail the results of its audit and any objection to the statement in dispute.  If Tenant fails to give written notice of objection within the 90 day period, Tenant shall be deemed to have approved the statement in all respects and released all claims based on the statement.  Upon Landlord’s receipt of a timely objection notice from Tenant, Landlord and Tenant shall work together in good faith to resolve the 
		

		 

		

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		discrepancy between Landlord’s statement and Tenant’s review.  If Landlord and Tenant determine that Operating Costs are less than reported, Landlord shall promptly pay to Tenant, or provide Tenant with a credit against future rent in the amount of, the difference.  Likewise, if Landlord and Tenant determine that Operating Costs are greater than reported, Tenant shall promptly pay the difference to Landlord.  If Landlord disputes the results of Tenant’s examination and Landlord and Tenant are unable to resolve the dispute by negotiation, the dispute shall, at Landlord’s election, which election may be made at any time before Landlord commences a judicial proceeding, or on or before the last date on which Landlord has to file an answer or defensive motion to a complaint which Tenant has filed and served in a judicial proceeding, be settled by arbitration in the county in which the Premises is located administered by the American Arbitration Association under its Commercial Arbitration Rules, with the following exceptions.  There shall be a single arbitrator selected by the American Arbitration Association.  The arbitrator shall have at least ten years’ experience in the supervision of the operation and management of major office buildings in the market area in which the Building is located.  The scope of the arbitrator’s inquiry and determination shall be limited to whether Operating Costs as billed to Tenant are in accordance with the definitions and computations provided in this Lease and the arbitrator shall not apply principles of good faith and fair dealing, unconscionability, or any other equitable principles in reaching his decision.  The arbitrator will have no authority to award punitive or other damages not measured by the prevailing party’s actual damages.  The arbitrator must set forth in any award findings of fact and conclusions of law supporting the decision.  Judgment on the award of the arbitrator may be entered in any court having jurisdiction.  Notwithstanding anything to the contrary contained in this Lease, Tenant shall have no rights to examine Landlord’s books and records as provided in this section if Landlord provides Tenant with a certification from an independent firm of certified public accountants confirming that Operating Costs for the year in question have been calculated in accordance with the terms of this Lease.
		

			
	
			
				 6.
			ASSIGNMENT OR SUBLETTING 

			
	
			
				 6.1
			General; Definition of Transfer.  Neither Tenant nor Tenant’s legal representatives or successors in interest by operation of law or otherwise shall transfer this Lease except as provided in this article.  For purposes of this article, a “transfer” shall mean any of the following: (a) an assignment of this Lease; (b) a collateral assignment, mortgage, or other encumbrance involving this Lease; (c) a sublease, license agreement, or other agreement permitting all or any portion of the Premises to be used by others; (d) a reduction of Tenant’s assets to the point that this Lease is substantially Tenant’s only asset; (e) a change or conversion in the form of entity of Tenant or any transferee or any entity controlling any of them which has the effect of limiting the liability of any of the partners, members, or other owners of the entity; (f) the agreement by a third party to assume, take over, or reimburse Tenant for any of Tenant’s obligations under this Lease in order to induce Tenant to lease space from the third party; or (g) any transfer of control of Tenant, which shall be defined as any issuance or transfer of stock in any corporate tenant or subtenant or any interest in any noncorporation entity tenant or subtenant, by sale, exchange, merger, consolidation, operation of law, or otherwise, or creation of new stock or interests, by which an aggregate of 50% or more of Tenant’s stock or equity interests shall be vested in one or more parties who are not stockholders or interest holders as of the Date of this Lease, or any transfer of the power to direct the operations of any entity (by equity ownership, contract, or otherwise), to one or more parties who are not stockholders or interest holders as of the Date of this Lease, however accomplished, and whether in a single transaction or in a series of related or unrelated transactions.  This section shall not apply to sales of stock by persons other than those deemed “insiders” within the meaning of the Securities Exchange Act of 1934 as amended, which sales are effected through any recognized securities exchange.  Any modification or amendment to any sublease of any portion of the Premises shall be deemed a further sublease of this Lease.  As used in this article, the term “transferee” shall include any assignee or subtenant of Tenant or any other party involved in any of the other transactions or events constituting a transfer.  Consent by Landlord to a transfer shall not relieve Tenant from the obligation to obtain Landlord’s written consent to any further transfer.  Any transfer by Tenant in violation of this article shall be void and shall constitute a default under this Lease.  Notwithstanding anything contained herein to the contrary, Tenant may assign or transfer this Lease (including, without limitation, a sublease of all or any portion of the Premises) to an Affiliate, as defined below, at any time without Landlord’s consent, provided that (i) a significant purpose of any such transfer is not to avoid the restrictions on transfer otherwise imposed under this article, (ii) Landlord is provided written notice of the transfer and the identity of the transferee prior to the effective date of the transfer, (iii) the resulting tenant entity shall have equal or greater tangible net worth and creditworthiness as Tenant as of the Date of this Lease or the date of transfer, whichever is greater, (iv) the form of any agreement of assignment or any sublease shall otherwise comply with the terms and conditions of this article, and (vi) no default under the Lease then exists.  "Tangible net worth" shall mean the excess of the value of tangible assets (i.e. assets excluding those which are intangible such as goodwill, patents and trademarks) over liabilities.  For purposes of this Section 6.1, an “Affiliate” shall mean (i) any entity controlling, controlled by, or under common control with Tenant, or (ii) any successor of Tenant resulting from a merger or consolidation of Tenant or as a result of a sale by Tenant of all or substantially all of its assets or stock.  For the purposes of this Section 6.1, the term “control” means (a) legal or beneficial ownership of twenty-five percent (25%) or more of the voting interests of an entity, or (b) the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a person or entity, whether through the ownership of voting securities, by contract or otherwise.

		 

		

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				 6.2
			Request for Consent.  If Tenant requests Landlord’s consent to a transfer, it shall submit in writing to Landlord, not later than 30 days before any anticipated transfer, (a) the name and address of the proposed transferee, (b) a duly executed counterpart of the proposed transfer agreement, (c) reasonably satisfactory information as to the nature and character of the business of the proposed transferee, as to the nature and character of its proposed use of the space, and otherwise responsive to the criteria set forth in the Reasonable Consent section of this article, and (d) banking, financial, or other credit information relating to the proposed transferee reasonably sufficient to enable Landlord to determine the financial responsibility and character of the proposed transferee, including balance sheets and profit and loss statements for the transferee covering the three years before the transfer, certified by the transferee, and a list of personal, banking, business, and credit references for the transferee.

			
	
			
				 6.3
			Recapture.  Except for an assignment or transfer to an Affiliate of Tenant, in which event this Section 6.3 shall not apply, Landlord shall have the following options to be exercised within 15 Business Days from submission of Tenant’s request for Landlord’s consent to a specific transfer:

			
	
			
				 6.3.1
			If Tenant proposes to assign this Lease or sublet all or substantially all of the Premises, Landlord shall have the option to cancel and terminate this Lease as of the proposed commencement date for the transfer.

			
	
			
				 6.3.2
			If Tenant proposes to sublet less than all or substantially all of the Premises or if a proposed sublease shall be for less than the balance of the Lease Term, Landlord shall have the option of canceling and terminating this Lease only as to the applicable portion of the Premises and the applicable portion of the Lease Term covered by the proposed sublease, effective as of the proposed commencement date of the sublease.  If Landlord exercises this option, all Rent for the Premises shall be equitably apportioned as of the commencement date of the sublease and Landlord, at Tenant’s expense, shall perform all work and make all alterations as may be required physically to separate the applicable portion of the Premises from the remainder of the Premises and to permit lawful occupancy of the separated portion.

			
	
			
				 6.4
			Reasonable Consent.  If Landlord does not elect either of the options provided in the Recapture section of this article, Landlord shall not unreasonably withhold or delay its consent to a proposed transfer.  It shall be deemed reasonable for Landlord to withhold consent to any proposed transfer if any of the following conditions have not been established to Landlord’s satisfaction:

			
	
			
				 6.4.1
			The proposed transferee has sufficient financial wherewithal to discharge its obligations under this Lease and the proposed agreement of transfer and as determined by Landlord’s criteria for selecting Project tenants and has experience and reputation that is not less than the experience, and reputation of Tenant on the Date of this Lease and the date of the transfer, whichever is greater.

			
	
			
				 6.4.2
			The proposed transfer shall not, in Landlord’s reasonable judgment, cause physical harm to the Project or harm to the reputation of the Project that would result in an impairment of Landlord’s ability to lease space in the Project or a diminution in the rental value of space in the Project.  

			
	
			
				 6.4.3
			The proposed use of the Premises by the proposed transferee will be the Permitted Use, and not prohibited by the Rules and Regulations, and will not violate any restrictive covenants or exclusive use provisions applicable to Landlord.

			
	
			
				 6.4.4
			The proposed transferee shall not be any person or entity who shall at that time be a tenant, subtenant, or other occupant of any part of the Project, or who dealt with Landlord or Landlord’s agent (directly or through a broker) as to space in the Project during the six months immediately preceding Tenant’s request for Landlord’s consent.

			
	
			
				 6.4.5
			The proposed use of the Premises by the proposed transferee will not require alterations or additions to the Premises or the Project to comply with applicable law or governmental requirements and will not negatively affect insurance requirements or involve the introduction of materials to the Premises that are not in compliance with the environmental laws.

			
	
			
				 6.4.6
			Any mortgagee of the Project will consent to the proposed transfer if such consent is required under the relevant loan documents.

		 

		

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				 6.4.7
			The proposed use of the Premises will not materially increase the Operating Costs for the Project or the burden on Project services, or generate excessive foot traffic, elevator usage, Parking Area usage, or security concerns in the Project, or compromise or reduce the comfort or safety, or both, of Landlord and the other occupants of the Project.  

			
	
			
				 6.4.8
			The proposed transferee shall not be, and shall not be affiliated with, anyone with whom Landlord or any of its affiliates has been involved with in litigation or who has defaulted under any agreement with Landlord or any of its affiliates.

			
	
			
				 6.4.9
			The proposed transfer will not cause a violation of another lease for space in the Project or give an occupant of the Project a right to cancel its lease.

			
	
			
				 6.4.10
			There shall be no default by Tenant, beyond any applicable grace period, under any of the terms, covenants, and conditions of this Lease at the time that Landlord’s consent to a transfer is requested and on the date of the commencement of the term of the proposed transfer.

			
	
			
				 6.4.11
			If the transfer is an assignment, the proposed assignee will assume in writing all of the obligations of Tenant under this Lease.

			
	
			
				 6.4.12
			Tenant acknowledges that the foregoing is not intended to be an exclusive list of the reasons for which Landlord may reasonably withhold its consent to a proposed transfer.

			
	
			
				 6.5
			Tenant’s Remedies.  Tenant waives any remedy for money damages (nor shall Tenant claim any money damages by way of setoff, counterclaim, or defense) based on any claim that Landlord has unreasonably withheld, delayed, or conditioned its consent to a proposed transfer under this Lease.  Tenant’s sole remedy in such an event shall be to institute an action or proceeding seeking specific performance, injunctive relief, or declaratory judgment.

			
	
			
				 6.6
			Transfer Documents.  Any sublease shall provide that:  (a) the subtenant shall comply with all applicable terms and conditions of this Lease to be performed by Tenant; (b) the sublease is expressly subject to all of the terms and provisions of this Lease; and (c) unless Landlord elects otherwise, the sublease will not survive a termination of this Lease (whether voluntary or involuntary) or resumption of possession of the Premises by Landlord following a default by Tenant.  The sublease shall further provide that if Landlord elects that the sublease shall survive a termination of this Lease or resumption of possession of the Premises by Landlord following a default by Tenant, the subtenant will, at the election of the Landlord, attorn to the Landlord and continue to perform its obligations under its sublease as if this Lease had not been terminated and the sublease were a direct lease between the Landlord and the subtenant.  Any assignment of lease shall contain an assumption by the assignee of all of the obligations of Tenant under this Lease.

			
	
			
				 6.7
			No Advertising.  Tenant shall not advertise (but may list with brokers) its space for sublease at a rental rate lower than the greater of the then Project Rental rate for the space or the rental rate then being paid by Tenant to Landlord.

			
	
			
				 6.8
			Consideration for Consent.  If Tenant effects any transfer, then Tenant shall pay to Landlord a sum equal to the net Rent, additional rent, or other consideration paid to Tenant by any transferee that is in excess of the Rent then being paid by Tenant to Landlord under this Lease for the portion of the Premises so transferred (on a prorated, square footage basis and valuing the leasehold interest based on the fair market value of Tenant’s interest under this Lease) (provided, that in no event shall Landlord be entitled to receive any consideration allocated to the sale of Tenant’s business or goodwill; it being understood that the foregoing provision is only intended to capture amounts payable to Tenant as rental payments in excess of the rental payments due hereunder or other consideration received for the value of the Lease if in lieu of rent).  The net Rent, additional rent, or other consideration paid to Tenant shall be calculated by deducting from the gross Rent, additional rent, or other consideration reasonable and customary real estate brokerage commissions actually paid by Tenant to third parties, tenant improvement allowances, Rent concessions, the actual cost of improvements to the Premises made by Tenant for the transferee, and other direct out-of-pocket costs actually incurred by Tenant in connection with the transfer (as long as the costs are commercially reasonable and are commonly incurred by landlords in leasing similar space).  Upon reasonable notice, Landlord shall have the right to audit Tenant's books and records to determine the amount payable to Landlord under this section.  All sums payable by Tenant under this section shall be payable to Landlord immediately on receipt by Tenant.

		 

		

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				 6.9
			Acceptance of Payments.  If this Lease is nevertheless assigned, or the Premises are sublet or occupied by anyone other than Tenant, Landlord may accept Rent from the assignee, subtenant, or occupant and apply the net amount received to the Rent reserved in this Lease, but no such assignment, subletting, occupancy, or acceptance of Rent shall be deemed a waiver of the requirement for Landlord’s consent as contained in this article or constitute a novation or otherwise release Tenant from its obligations under this Lease.

			
	
			
				 6.10
			Continuing Liability.  Except as provided in the Recapture section of this article, following any transfer (other than a transfer to any successor of Tenant resulting from a merger or consolidation of Tenant or as a result of a sale by Tenant of all or substantially all of its assets or stock), Tenant and Guarantor shall remain liable to Landlord for the prompt and continuing payment of all forms of Rent payable under this Lease following the transfer.  The joint and several liability of Tenant, Guarantor, and any immediate and remote successor in interest of Tenant (by assignment or otherwise, other than as specifically set forth in the preceding sentence), and the due performance of the obligations of this Lease on Tenant’s part to be performed or observed, shall not in any way be discharged, released, or impaired by any (a) agreement that modifies any of the rights or obligations of the parties under this Lease, (b) stipulation that extends the time within which an obligation under this Lease is to be performed, (c) waiver of the performance of an obligation required under this Lease, or (d) failure to enforce any of the obligations set forth in this Lease.

			
	
			
				 6.11
			Administrative Fee.  Tenant shall pay to Landlord, on demand, an administrative fee of $1,000, plus all reasonable attorneys’ fees and actual costs associated with Landlord’s consideration of Tenant’s transfer request and the review and preparation of all documents associated therewith.

			
	
			
				 6.12
			Landlord Transfer.  Landlord may assign or encumber its interest under this Lease.  If any portion of the Premises is sold, transferred, or leased, or if Landlord’s interest in any underlying lease of the Premises is transferred or sold, Landlord shall be relieved of all existing and future obligations and liabilities under this Lease, provided that the purchaser, transferee, or tenant of the Premises assumes in writing those obligations and liabilities.  

			
	
			
				 7.
			INSURANCE/WAIVERS/SUBROGATION.

			
	
			
				 7.1
			Insurance Requirements.  Effective as of the Date of this Lease and continuing throughout the Lease Term, Tenant shall maintain the following insurance policies:

			
	
			
				 (a)
			Commercial General Liability Insurance.  Commercial general liability insurance (including property damage, bodily injury and personal injury coverage) in amounts of $1,000,000 per occurrence and $2,000,000 in the annual aggregate in primary coverage, with an additional $5,000,000 in umbrella coverage or, following the expiration of the initial Lease Term, such other amounts as Landlord may from time to time reasonably require, insuring Tenant (and naming as additional insureds Landlord, Landlord’s property management company, Landlord’s asset management company and, if requested in writing by Landlord, Landlord’s mortgagee), against all liability for injury to or death of a person or persons or damage to property arising from the use and occupancy of the Premises and (without implying any consent by Landlord to the installation thereof) the installation, operation, maintenance, repair or removal of any equipment of Tenant located outside of the Premises (“Off-Premises Equipment”).  If the use and occupancy of the Premises include any activity or matter that is or may be excluded from coverage under a commercial general liability policy (e.g., the sale, service or consumption of alcoholic beverages), Tenant shall obtain such endorsements to the commercial general liability policy or otherwise obtain insurance to insure all liability arising from such activity or matter (including liquor liability, if applicable) in such amounts as Landlord may reasonably require;

			
	
			
				 (b)
			Commercial Property Insurance.  (1) Cause of loss-special risk form (formerly “all-risk”) or its equivalent insurance (including, but not limited to, sprinkler leakage, ordinance and law, sewer back-up, flood, earthquake, windstorm and collapse coverage) covering the full value of all alterations and improvements and betterments in the Premises, naming Landlord and Landlord’s mortgagee as additional loss payees as their interests may appear, and (2) cause of loss-special risk form (formerly “all-risk”) or its equivalent insurance covering the full value of all furniture, trade fixtures, equipment and personal property (including property of Tenant or others) in the Premises or otherwise placed in the Project by or on behalf of a Tenant Party (including Tenant’s Off-Premises Equipment);

			
	
			
				 (c)
			Contractual Liability Insurance.  Contractual liability insurance sufficient to cover Tenant’s indemnity obligations hereunder (but only if such contractual liability insurance is not already included in Tenant’s commercial general liability insurance policy);

		 

		

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				 (d)
			Commercial Auto Liability Insurance.  Commercial auto liability insurance (if applicable) covering automobiles owned, hired or used by Tenant in carrying on its business with limits not less than $1,000,000 combined single limit for each accident, insuring Tenant (and naming as additional insureds Landlord, Landlord’s property management company, Landlord’s asset management company and, if requested in writing by Landlord, Landlord’s mortgagee);

			
	
			
				 (e)
			Worker’s Compensation Insurance; Employer’s Liability Insurance.  Worker’s compensation insurance of $1,000,000 (or such larger amount if required by local statute) and employer’s liability insurance of $1,000,000;

			
	
			
				 (f)
			Business Interruption Insurance.  Business interruption insurance covering six (6) months of Base Rent under the Lease; and

			
	
			
				 (g)
			Comprehensive Crime.  Comprehensive crime coverage of $1,000,000.

			
	
			
				 7.2
			Landlord’s Insurance.  Commencing on the Date of the Lease and continuing throughout the Lease Term, Landlord shall maintain, as a minimum, the following insurance policies:  (a) property insurance for the Building’s full replacement value (excluding property required to be insured by Tenant), less a commercially-reasonable deductible if Landlord so chooses, and (b) commercial general liability insurance in an amount of not less than $3,000,000.  Landlord may, but is not obligated to, maintain such other insurance and additional coverages as it may deem necessary.  The cost of all insurance carried by Landlord with respect to the Project shall be included in Operating Costs.  The foregoing insurance policies and any other insurance carried by Landlord shall be for the sole benefit of Landlord and under Landlord’s sole control, and Tenant shall have no right or claim to any proceeds thereof or any other rights thereunder.  Any insurance required to be maintained by Landlord may be taken out under a blanket insurance policy or policies covering other buildings, property or insureds in addition to the Building and Landlord.  In such event, the costs of any such blanket insurance policy or policies shall be reasonably allocated to the Project and the other properties covered by such policy or policies as reasonably determined by Landlord and included as part of Operating Costs.  Notwithstanding anything in this Lease to the contrary, Landlord’s indemnity obligations under this Lease shall be limited to the extent any such claim is insured against under the terms of any insurance policy maintained by Landlord (or is required to be maintained by Landlord under the terms of this Lease).

			
	
			
				 7.3
			No Subrogation; Waiver of Property Claims.  Landlord and Tenant each waives any claim it might have against the other for any damage to or theft, destruction, loss, or loss of use of any property, to the extent the same is insured against (or permitted to be self-insured against) under any insurance policy of the types described in this article that covers the Project, the Premises, Landlord’s or Tenant’s fixtures, personal property, leasehold improvements, or business, or is required to be insured against under the terms hereof, regardless of whether the negligence of the other party caused such Loss (as defined in the Indemnification Article below).  Additionally, Tenant waives any claim it may have against Landlord for any Loss to the extent such Loss is caused by a terrorist act.  Each party shall cause its insurance carrier to endorse all applicable policies waiving the carrier’s rights of recovery under subrogation or otherwise against the other party.  Notwithstanding any provision in this Lease to the contrary, Landlord, its agents, employees and contractors shall not be liable to Tenant or to any party claiming by, through or under Tenant for (and Tenant hereby releases Landlord and its servants, agents, contractors, employees and invitees from any claim or responsibility for) any damage to or destruction, loss, or loss of use, or theft of any property of any Tenant Party located in or about the Project, caused by casualty, theft, fire, third parties or any other matter or cause, regardless of whether the negligence of any party caused such loss in whole or in part.  Tenant acknowledges that Landlord shall not carry insurance on, and shall not be responsible for damage to, any property of any Tenant Party located in or about the Project.

			
	
			
				 8.
			DEFAULT.

			
	
			
				 8.1
			Events of Default.  Each of the following shall be an event of default (“Event of Default”) under this Lease: (a) Tenant fails to make any payment of Rent within five days after written notice from Landlord that the same is past due (provided that Landlord shall not be required to provide such notice more than two (2) times in any calendar year);  (b) Tenant or any Guarantor for Tenant’s obligations under this Lease becomes bankrupt or insolvent or makes an assignment for the benefit of creditors or takes the benefit of any insolvency act, or if any debtor proceedings are taken by or against Tenant or any Guarantor (and are not dismissed within sixty (60) days thereafter, in the event of an involuntary filing); (c) Tenant transfers this Lease in violation of the Assignment or Subletting article; (d) Tenant fails to deliver an estoppel certificate or subordination agreement or maintain required insurance coverages within five (5) Business Days after written notice that the same has not been delivered within the time periods required by this Lease; (e) Tenant does not comply with its obligations to vacate the Premises under the Relocation or End of Term articles of this Lease; or (f) Tenant fails to perform any other obligation under this Lease within twenty days of receipt of notice from Landlord or the additional time, if any, that is reasonably necessary to promptly and diligently cure the failure, after it receives written 
		

		 

		

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			notice from Landlord setting forth in reasonable detail the nature and extent of the failure, provided that Tenant commences such cure within such twenty day period and diligently pursues the same to completion.

			
	
			
				 8.2
			Remedies.  If an Event of Default occurs, in addition to all remedies provided by law, Landlord may declare the entire balance of all forms of Rent due under this Lease for the remainder of the Lease Term to be forthwith due and payable and may collect the then present value of the Rents (calculated using a discount rate equal to the discount rate of the branch of the Federal Reserve Bank closest to the Premises in effect as of the date of the default).  If this Lease is rejected in any bankruptcy proceeding, Rent for the entire month in which the rejection occurs shall be due and payable in full and shall not be prorated.    If Landlord exercises its remedy to retake possession of the Premises and collects from Tenant all forms of Rent due under this Lease for the remainder of the Lease Term, Landlord shall account to Tenant, at the date of the expiration of the Lease Term, for amounts actually collected by Landlord as a result of a reletting, net of the Tenant’s obligations as specified above.

			
	
			
				 8.3
			Landlord’s Right to Perform.  If an Event of Default occurs (or upon any default resulting in an emergency involving immediate damage or injury), Landlord may, but shall have no obligation to, perform the obligations of Tenant, and if Landlord, in doing so, makes any expenditures or incurs any obligation for the payment of money, including reasonable attorneys’ fees, the sums so paid or obligations incurred shall be paid by Tenant to Landlord upon receipt of a bill or statement to Tenant therefor.  

			
	
			
				 8.4
			Late Charges, Interest, and Bad Checks.  If any payment due Landlord shall not be paid within five days of the date when due, Tenant shall pay, in addition to the payment then due, an administrative charge equal to the greater of (a) 5% of the past due payment; or (b) $250.  All payments due Landlord shall bear interest at the lesser of: (a) 12% per annum, or (b) the highest rate of interest permitted to be charged by applicable law (“Default Interest Rate”), accruing from the date the obligation arose through the date payment is actually received by Landlord.  If any check given to Landlord for any payment is dishonored for any reason whatsoever not attributable to Landlord, in addition to all other remedies available to Landlord, upon demand, Tenant will reimburse Landlord for all insufficient funds, bank, or returned check fees, plus an administrative fee not to exceed the maximum amount prescribed by Section 68.065, Florida Statutes.  In addition, Landlord may require all future payments from Tenant to be made by cashier’s check from a local bank or by Federal Reserve wire transfer to Landlord’s account.

			
	
			
				 8.5
			Limitations.  None of Landlord’s officers, employees, agents, directors, shareholders, partners, members, managers, or affiliates shall ever have any personal liability to Tenant.  No person holding Landlord’s interest shall have any liability after such person ceases to hold such interest, except for any liability accruing while such person held such interest.  Tenant shall look solely to Landlord’s estate and interest in the Building (INCLUDING ANY PROCEEDS OF INSURANCE, CONDEMNATION AND RENTS) for the satisfaction of any right or remedy of Tenant under this Lease, and no other assets of Landlord shall be subject to levy, execution, or other enforcement procedure for the satisfaction of Tenant’s rights or remedies, or any other liability of Landlord to Tenant of whatever kind or nature.  No act or omission of Landlord or its agents shall constitute an actual or constructive eviction of Tenant or a default by Landlord as to any of its obligations under this Lease unless Landlord shall have first received written notice from Tenant of the claimed default and shall have failed to cure it after having been afforded reasonable time in which to do so, which in no event shall be less than 30 days.  Further, Tenant waives any claims against Landlord that Tenant does not make in writing within 30 days of the onset of the cause of such claim.  Landlord and Tenant each waive all rights (other than rights under the Estoppel Certificate and End of Term articles) to consequential damages, lost profits, punitive damages, or special damages of any kind.  

			
	
			
				 8.6
			Default By Landlord.  Landlord shall be in default under this Lease if Landlord fails to perform any of Landlord’s obligations under this Lease and the failure continues for more than 30 days after notice from Tenant specifying the default, or if the default is of a nature that it cannot be completely cured within the 30 day period, if Landlord fails to begin curing the default within the 30 day period or fails thereafter to cure the default within the time reasonably necessary to do so, and if Landlord’s failure materially affects Tenant’s use and occupancy of the Premises.    If Landlord fails to cure any such default within the time periods set forth above, Tenant’s sole remedies will be to commence an action against Landlord (i) seeking specific performance of the obligation or obligations hereunder with respect to which Landlord is in default if Tenant does not have an adequate remedy at law, or (ii) seeking recovery of actual damages (but excluding any punitive and consequential damages) incurred by Tenant as the direct result of Landlord’s default.  Tenant will not be entitled to any right of deduction, offset, self-help or any right to terminate this Lease as a result of any uncured default hereunder by Landlord.

			
	
			
				 9.
			ALTERATIONS.  “Alterations” shall mean any alteration, addition, or improvement in or on or to the Premises of any kind or nature, including any improvements made, except for the Tenant Improvements.  Tenant shall make no Alterations, other 
		

		 

		

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			than decorative Alterations, such as painting, wall coverings, floor coverings or other non-structural alterations for which no building permit is required and which do not affect any Building systems, and in the aggregate cost less than $25,000, without the prior written consent of Landlord, which consent may be withheld or conditioned in Landlord’s sole discretion.  However, Landlord will not unreasonably withhold or delay consent to non-structural interior Alterations, provided that they do not involve demolition of improvements, affect utility services or Building systems, are not visible from outside the Premises, and do not require other alterations, additions, or improvements to areas outside the Premises.  Tenant shall reimburse Landlord, on demand, for the actual out-of-pocket costs for the services of any third party employed by Landlord to review or prepare any Alteration-related plan or other document for which Landlord’s consent or approval is required.    If requested by Tenant, if Landlord, or its agent or contractor performs or supervises the performance of any Alterations, Tenant shall pay to Landlord an amount equal to 5% of the cost of the work, as a supervisory fee  Except as expressly set forth in this Lease, Landlord has made no representation or promise as to the condition of the Premises, Landlord shall not perform any alterations, additions, or improvements to make the Premises suitable and ready for occupancy and use by Tenant, and Tenant shall accept possession of the Premises in its then “as-is”, “where-is” condition, without representation or warranty of any kind by Landlord.  Except for work to be performed by Landlord, before any Alterations are undertaken by or on behalf of Tenant, Tenant shall deliver to Landlord any governmental permit required for the Alterations and shall require any contractor performing work on the Premises to obtain and maintain, at no expense to Landlord, workers’ compensation insurance as required by law, builder’s risk insurance in the amount of the replacement cost of the applicable Alterations (or such other amount reasonably required by Landlord), commercial general liability insurance, and auto liability insurance (to include all automobiles owned, leased, hired or borrowed), written on an occurrence basis with minimum limits of $2 million per occurrence limit, $2 million general aggregate limit, $2 million personal and advertising limit, and $2 million products/completed operations limit; which coverage limits may be effected with umbrella coverage (including contractual liability, broad form property damage and contractor’s protective liability coverage). Contractor’s insurance shall contain an endorsement insuring the Landlord and its managing agent (and, if requested, Landlord’s mortgagee) as additional insureds and shall be primary over any other coverage available to the Landlord. All Alterations by Tenant shall also comply with Landlord’s rules and requirements for contractors performing work in the Project.

			
	
			
				 10.
			LIENS.  The interest of Landlord in the Premises shall not be subject in any way to any liens, including construction liens, for improvements to or other work performed in the Premises by or on behalf of Tenant.  Tenant shall have no power or authority to create any lien or permit any lien to attach to the present estate, reversion, or other estate of Landlord (or the interest of any ground Landlord) in the Premises or in the Building and all mechanics, materialmen, contractors, artisans, and other parties contracting with Tenant or its representatives or privies as to the Premises or any part of the Premises are charged with notice that they must look to the Tenant to secure payment of any bill for work done or material furnished or for any other purpose during the Lease Term.  These provisions are made with express reference to Section 713.10, Florida Statutes.  Landlord and Tenant acknowledge and agree that there is no requirement under this Lease that Tenant make any alterations or improvements to the Premises and no improvements to be made by Tenant to the Premises constitute “the pith of the lease” as provided in applicable Florida law.  If any lien is filed against the Premises for work or materials claimed to have been furnished to Tenant, Tenant shall cause it to be discharged of record or properly transferred to a bond under Section 713.24, Florida Statutes, within ten days after written notice to Tenant.  Further, Tenant shall indemnify, defend, and save Landlord harmless from and against any damage or loss, including reasonable attorneys’ fees, incurred by Landlord as a result of any liens or other claims arising out of or related to work performed in the Premises by or on behalf of Tenant.  Tenant shall notify every contractor making improvements to the Premises that the interest of the Landlord in the Premises shall not be subject to liens.

			
	
			
				 11.
			ACCESS TO PREMISES.  Landlord and persons authorized by Landlord shall have the right, at all reasonable times, to enter and inspect the Premises and to make repairs and alterations Landlord deems necessary, with reasonable prior notice (which may be by telephone or e-mail), except in cases of emergency, when no notice shall be required.  Tenant shall have access to the Building 24 hours a day, seven days a week, 365 days a year, subject to Unavoidable Delays (as defined in Section 29), emergencies, and otherwise in accordance with the terms of this Lease.

			
	
			
				 12.
			COMMON AREAS.  The “Common Areas” of the Project include such areas and facilities as delivery facilities, walkways, landscaped and planted areas, and parking facilities and are those areas designated by Landlord for the general use in common of occupants of the Project, including Tenant.  The Common Areas shall at all times be subject to the exclusive control and management of Landlord.  Landlord may grant third parties specific rights concerning portions of the Common Areas.  Landlord may increase, reduce, improve, or otherwise alter the Common Areas, otherwise make improvements, alterations, or additions to the Project, and change the name or number by which the Building or Project is known; provided that Landlord shall use commercial reasonable efforts so that none of the foregoing shall unreasonably and materially interfere with Tenant's conduct of its business or Tenant's use and enjoyment of the Premises, including, without limitation, any access thereto or parking therefor.  Landlord may also temporarily close the Common Areas to make repairs or improvements.  In addition, Landlord may temporarily close the Building or 
		

		 

		

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			Project and preclude access to the Premises in the event of casualty, governmental requirements, the threat of an emergency such as a hurricane or other act of God, or if Landlord otherwise reasonably deems it necessary in order to prevent damage or injury to person or property.  This Lease does not create, nor will Tenant have any express or implied easement for, or other rights to, air, light, or view over, from, or about the Project.

			
	
			
				 13.
			SECURITY INTEREST.  As security for Tenant’s obligations under this Lease, Tenant grants to Landlord a security interest in this Lease and all property of Tenant now or hereafter placed in or upon the Premises including, but not limited to, all fixtures, furniture, inventory, machinery, equipment, merchandise, furnishings, and other articles of personal property, and all insurance proceeds of or relating to Tenant’s property and all accessions and additions to, substitutions for, and replacements, products, and proceeds of the Tenant’s property.  This Lease constitutes a security agreement under the Florida Uniform Commercial Code.

			
	
			
				 14.
			CASUALTY DAMAGE.  If: (a) the Building shall be so damaged that substantial reconstruction of the Building  shall, in Landlord’s opinion, be required  (whether or not the Premises shall have been damaged by the casualty); or (b) Landlord is not permitted to rebuild the Building  in substantially the same form as it existed before the damage; or (c) the Premises shall be materially damaged by casualty during the last two years of the Lease Term; or (d) any mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (e) the damage is not covered by insurance maintained by Landlord; then Landlord may, within 90 days after the casualty, give notice to Tenant of Landlord’s election to terminate this Lease, and the balance of the Lease Term shall automatically expire on the fifth day after the notice is delivered.  If Landlord does not elect to terminate this Lease in accordance with the preceding sentence,  or if the Premises or Building are partially damaged (i.e., damage that does not require substantial reconstruction of the Building,  and Landlord determines that the restoration can be completed within 12 months of the casualty), Landlord shall proceed with reasonable diligence to restore the Building and the Premises to substantially the same condition they were in immediately before the casualty.  However, Landlord shall not be required to restore any unleased premises in the Building or any portion of Tenant’s property, and Landlord’s obligation to repair or restore the Premises shall be limited to the extent of insurance proceeds actually received by Landlord due to the casualty and shall not include any improvements or alterations performed by Tenant.    If this Lease is not terminated as set forth above, if Landlord fails to fully complete such repair or restoration within twelve (12) months from the date of such damage (such restoration period shall be extended due to Unavoidable Delays as defined in Section 29), then in such event, Tenant, as its sole and exclusive remedy, may terminate this Lease upon thirty (30) days prior written notice to Landlord.  Rent shall abate in proportion to the portion of the Premises not usable by Tenant as a result of any casualty resulting in damage to the Building, as of the date on which the Premises becomes unusable until the date the Premises are rendered tenantable for the Permitted Use.  Landlord shall not otherwise be liable to Tenant for any inconvenience or annoyance to Tenant or injury to Tenant’s business resulting in any way from the damage or the repairs, Tenant’s sole remedy being the right to an abatement of Rent.  

			
	
			
				 15.
			CONDEMNATION.  If the whole or any substantial part of the Premises shall be condemned by eminent domain or acquired by private purchase in lieu of condemnation, this Lease shall terminate on the date on which possession of the Premises is delivered to the condemning authority and Rent shall be apportioned and paid to that date.  If no portion of the Premises is taken but a substantial portion of the Building is taken, at Landlord’s option, this Lease shall terminate on the date on which possession of such portion of the Building is delivered to the condemning authority and Rent shall be apportioned and paid to that date.  Tenant shall have no claim against Landlord for the value of any unexpired portion of the Lease Term, nor shall Tenant be entitled to any part of the Landlord’s condemnation award or private purchase price.  If this Lease is not terminated as provided above, Rent shall abate in proportion to the portion of the Premises condemned.

			
	
			
				 16.
			REPAIR AND MAINTENANCE.  Landlord shall repair and maintain in good order and condition and comparable to other comparable class office buildings in Palm Beach County, Florida, ordinary wear and tear excepted, the Common Areas, mechanical and equipment rooms, the roof of the Building, the exterior walls of the Building, the exterior windows of the Building, the structural portions of the Building, the elevators, and the electrical, plumbing, mechanical, fire protection, life safety, and HVAC systems servicing the Building.  However, unless the Waiver of Subrogation section of this Lease applies, Tenant shall pay the cost of any such repairs or maintenance resulting from acts or omissions of Tenant, its employees, agents, or contractors.  Additionally, Landlord shall replace the Building standard light bulbs and fluorescent light tubes in the Premises at a Building standard charge to be paid by Tenant.  Tenant waives the provisions of any law, or any right Tenant may have under common law, permitting Tenant to make repairs at Landlord’s expense or to withhold Rent or terminate this Lease based on any alleged failure of Landlord to make repairs. All costs associated with the repair and maintenance obligations of Landlord under this article shall be included in and constitute Operating Costs (except as may be otherwise set forth in Section 5 hereof).  Except to the extent Landlord is obligated to repair and maintain the Premises as provided above, Tenant shall, at its sole cost, repair, replace, and maintain the Premises (including the walls, ceilings, and floors in the Premises, and any specialized electrical, plumbing, mechanical, fire protection, life safety and 
		

		 

		

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			HVAC systems servicing the Premises requested by Tenant exclusively for their use) in a clean, attractive, first-class condition.  All replacements shall be of equal quality and class to the original items replaced.  Tenant shall not commit or allow to be committed any waste on any portion of the Premises.

			
	
			
				 17.
			ESTOPPEL CERTIFICATES.  From time to time, Tenant, on not less than ten business days’ prior written notice, shall (i) execute and deliver to Landlord an estoppel certificate in a form generally consistent with the requirements of institutional lenders and certified to all or any of Landlord, any mortgagee or prospective mortgagee, or prospective purchaser of the Building, and (ii) cause any Guarantor to deliver to Landlord any estoppel certificate required under the Guaranty.

			
	
			
				 18.
			SUBORDINATION.  This Lease is and shall be subject and subordinate to all mortgages and ground leases that may now or hereafter affect the Building, and to all renewals, modifications, consolidations, replacements, and extensions of the leases and mortgages; provided that so long as Tenant is not in default hereunder beyond the expiration of any applicable notice and cure periods, the leasehold interest of Tenant under the Lease shall not be affected, disturbed, interfered with or terminated by reason of a termination of any underlying ground lease or any foreclosure or transfer or acquisition in lieu thereof.  This article shall be self-operative and no further instrument of subordination shall be necessary.  However, in confirmation of this subordination, Tenant shall execute promptly any certificate that Landlord may request.  If any ground or underlying lease is terminated, or if the interest of Landlord under this Lease is transferred by reason of or assigned in lieu of foreclosure or other proceedings for enforcement of any mortgage, or if the holder of any mortgage acquires a lease in substitution for the mortgage, or if this Lease is terminated by termination of any lease or by foreclosure of any mortgage to which this Lease is or may be subordinate, then Tenant will, at the option to be exercised in writing by the landlord under any ground or underlying lease or the purchaser, assignee, or tenant, as the case may be (a) attorn to it and will perform for its benefit all the terms, covenants, and conditions of this Lease on Tenant’s part to be performed with the same force and effect as if the landlord or the purchaser, assignee, or tenant were the landlord originally named in this Lease, or (b) enter into a new lease with the landlord or the purchaser, assignee, or tenant for the remainder of the Lease Term and otherwise on the same terms, conditions, and rents as provided in this Lease.

			
	
			
				 19.
			INDEMNIFICATION.  To the fullest extent provided by law, and subject to the waiver of subrogation provision of this Lease, Tenant shall defend, indemnify, and hold harmless Landlord and its representatives and agents from and against all claims, demands, liabilities, causes of action, suits, judgments, damages, and expenses (including reasonable attorneys’ fees) arising from any injury to or death of any person or the damage to or theft, destruction, loss, or loss of use of, any property or inconvenience (a “Loss”) (i) occurring in or on the Project (other than within the Premises) to the extent caused by the negligence or willful misconduct of Tenant; any assignees claiming by, through, or under Tenant; any subtenants claiming by, through, or under Tenant; and any of their respective agents, contractors, officers, employees, licensees, guests and invitees (a “Tenant Party”), (ii) occurring in the Premises, or (iii) arising out of the installation, operation, maintenance, repair or removal of any property of any Tenant Party located in or about the Project.  It being agreed that clauses (ii) and (iii) of this indemnity are intended to indemnify Landlord and its agents against the consequences of their own negligence or fault, even when Landlord or its agents are jointly, comparatively, contributively, or concurrently negligent with Tenant, and even though any such claim, cause of action or suit is based upon or alleged to be based upon the strict liability of Landlord or its agents; however, such indemnity shall not apply to the sole or gross negligence or willful misconduct of Landlord and its agents.  To the fullest extent provided by law, and subject to the waiver of subrogation provision of this Lease, Landlord shall defend, indemnify, and hold harmless Tenant and its agents from and against all claims, demands, liabilities, causes of action, suits, judgments, damages, and expenses (including reasonable attorneys’ fees) for any Loss arising from any occurrence in or on the Building’s Common Areas to the extent caused by the negligence or willful misconduct of Landlord or its agents, contractors, officers or employees.  The indemnities set forth in this Lease shall survive termination or expiration of this Lease and shall not terminate or be waived, diminished or affected in any manner by any abatement or apportionment of Rent under any provision of this Lease.  If any proceeding is filed for which indemnity is required hereunder, the indemnifying party agrees, upon request therefor, to defend the indemnified party in such proceeding at its sole cost utilizing counsel satisfactory to the indemnified party.

			
	
			
				 20.
			NO WAIVER.  The failure of a party to insist on the strict performance of any provision of this Lease or to exercise any remedy for any default shall not be construed as a waiver.  The waiver of any noncompliance with this Lease shall not prevent subsequent similar noncompliance from being a default.  No waiver shall be effective unless expressed in writing and signed by the waiving party.  No notice to or demand on a party shall of itself entitle the party to any other or further notice or demand in similar or other circumstances.  The receipt by Landlord of any Rent after default on the part of Tenant (whether the Rent is due before or after the default) shall not excuse any delays as to future Rent payments and shall not be deemed to operate as a waiver of any then-existing default by Tenant or of the right of Landlord to enforce the payment of any other Rent reserved in this Lease or to pursue eviction or any other remedies available to Landlord.  No payment by Tenant, or receipt by Landlord, of a lesser amount than the Rent actually owed under the terms of this Lease shall be deemed to be anything other than a payment on account of the earliest stipulated Rent.  No 
		

		 

		

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			endorsement or statement on any check or any letter accompanying any check or payment of Rent will be deemed an accord and satisfaction.  Landlord may accept the check or payment without prejudice to Landlord’s right to recover the balance of the Rent or to pursue any other remedy.  It is the intention of the parties that this article will modify the common law rules of waiver and estoppel and the provisions of any statute that might dictate a contrary result.

			
	
			
				 21.
			SERVICES AND UTILITIES.  Landlord shall furnish the following services:  (a) air conditioning year round and heating in season (b) janitorial and general cleaning service on Business Days; (c) passenger elevator service to all floors of the Building; and (d) common restroom facilities and necessary lavatory supplies, including hot and cold running water  Landlord shall have no obligation to provide any electric utilities or services to the Premises and Tenant shall be solely responsible for and shall promptly pay all charges for electricity used or consumed in the Premises, including all costs associated with the provision of separate meters for the Premises.  Landlord shall have the right to select the Building’s electric service provider and to switch providers at any time.  Tenant’s use of electrical, HVAC or other services furnished by Landlord shall not exceed, either in voltage, rated capacity, use, or overall load, that which Landlord deems to be standard for the Building.  Tenant shall pay all costs associated with any such additional utility usage, including the installation of separate meters.  In no event shall Landlord be liable for damages resulting from the failure to furnish any service, and any interruption or failure shall in no manner entitle Tenant to any remedies including abatement of Rent. Tenant acknowledges and agrees that (i) there will be a central heating, ventilation and air conditioning system serving the Project (the “Central HVAC System”), (ii) certain costs and expenses attributable to the Premises with respect to the Central HVAC System will be separately metered or monitored by Landlord, and (iii) Tenant shall pay, as Additional Rent, on a monthly basis, all separately metered or monitored costs and expenses attributable to the Premises, including, separately metered chiller water use charges with respect to the Central HVAC System, as determined in accordance with Tenant’s use thereof.  Tenant shall separately arrange with, and pay directly to, the applicable local public authorities or utilities, as the case may be, for the furnishing, installation and maintenance of all utilities, telephone services and equipment required by Tenant in the use of the Premises.  If at any time during the Lease Term the Project has any type of access control system for the Parking Areas or the Building,  Tenant shall be provided the initial cards for all occupants of the Premises from Landlord, and shall pay for lost, damaged or stolen cards at the then Building standard charge.  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 Project outside the Premises to be approved by Landlord 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.

			
	
			
				 22.
			SECURITY DEPOSIT.  The Security Deposit shall be held by Landlord as security for Tenant’s full and faithful performance of this Lease including the payment of Rent.  Tenant grants Landlord a security interest in the Security Deposit.  The Security Deposit may be commingled with other funds of Landlord and Landlord shall have no liability for payment of any interest on the Security Deposit.  Landlord may apply the Security Deposit to the extent required to cure any default by Tenant.  If Landlord so applies the Security Deposit, Tenant shall deliver to Landlord the amount necessary to replenish the Security Deposit to its original sum within five days after notice from Landlord.  The Security Deposit shall not be deemed an advance payment of Rent or a measure of damages for any default by Tenant, nor shall it be a defense to any action that Landlord may bring against Tenant.

			
	
			
				 23.
			GOVERNMENTAL REGULATIONS.  Tenant shall promptly comply with all laws, codes, and ordinances of governmental authorities, including the Americans with Disabilities Act of 1990 and all similar present or future laws; provided however, that in no event shall the foregoing require Tenant to make any alterations or improvements to the Premises, structural or otherwise unless such alterations are required due to any Tenant Improvements or other Alterations performed by or on behalf of Tenant, or arising from Tenant’s specific use.

			
	
			
				 24.
			SIGNS.  No signage shall be placed by Tenant on any portion of the Project.  However, Tenant shall be permitted to place a sign bearing its name in a location approved by Landlord near the entrance to the Premises (at Landlord’s cost) and will be furnished a single listing of its name in the Building’s directory (at Landlord’s cost), all in accordance with the criteria adopted from time to time by Landlord for the Project.  Any changes or additional listings in the directory shall be furnished (subject to availability of space) for the then Building standard charge.  As long as Tenant is not in default under this Lease beyond any applicable grace periods, based on availability, Tenant shall be entitled to have its name placed on the Building’s monument sign facing Lake Victoria Gardens Drive as shown on EXHIBIT “F” (at Tenant’s sole cost and expense), subject to the following terms and conditions:  (i) Landlord shall have the right to designate design standards relating to the placement of names on the monument sign, including the size, material, shape, color, and lettering of any names on the monument sign; and (ii) Tenant’s signage shall comply with all applicable governmental requirements (applications for approval, if required, shall be at Tenant’s sole cost and expense).  Landlord 
		

		 

		

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			shall have the right to remove Tenant’s name or sign from the monument sign, if, any time during the Lease Term, Tenant (a) assigns this Lease, (b) sublets more than 30% of the Premises, or (c) ceases to occupy at least 25,960 rentable square feet of space in the Building.  Tenant’s sign shall be removed at Tenant’s sole cost at the end of the Lease Term or earlier termination of the Lease and all damage promptly repaired at Tenant’s cost.  The signage rights granted to Tenant under this article shall not prohibit Landlord from granting other tenants the right to install signage on the monument or the Building.

			
	
			
				 25.
			BROKER.   Tenant represents and warrants that it neither consulted nor negotiated with any broker or finder regarding the Premises, except the Landlord’s Broker and Tenant’s Broker, who shall be paid by Landlord pursuant to a separate written agreement (and Landlord shall indemnify and hold Tenant harmless from and against any claims regarding such commissions), provided that neither the foregoing nor anything else in this Lease is intended, or shall be construed, to grant such Brokers any rights under this Lease or make them third party beneficiaries of this Lease.  Each of Landlord and Tenant shall indemnify, defend, and hold the other harmless from and against any claims for commissions from any real estate broker other than the Landlord’s Broker and Tenant’s Broker with whom it has dealt in connection with this Lease.  The terms of this Article shall survive the expiration or earlier termination of this Lease.

			
	
			
				 26.
			END OF TERM.  Tenant shall surrender the Premises to Landlord at the expiration or sooner termination of this Lease in good order and condition, broom-clean, except for reasonable wear and tear. Tenant shall be liable to Landlord for all damages, including consequential damages, that Landlord may suffer by reason of any holding over by Tenant, and Tenant shall indemnify, defend, and save Landlord harmless against all costs, claims, loss, or liability resulting from delay by Tenant in so surrendering the Premises, including any claims made by any succeeding Tenant arising from the delay.  All Alterations made by Landlord or Tenant to the Premises shall become Landlord’s property on the expiration or sooner termination of the Lease Term.  On the expiration or sooner termination of the Lease Term, Tenant, at its expense, shall remove from the Premises all of Tenant’s personal property, and all Alterations (including, computer and telecommunications wiring) that Landlord designates by notice to Tenant.  Tenant shall also repair any damage to the Premises caused by the removal.  Any items of Tenant’s property that shall remain in the Premises after the expiration or sooner termination of the Lease Term, may, at the option of Landlord, be deemed to have been abandoned, and in that case, those items may be retained by Landlord as its property to be disposed of by Landlord, without accountability to Tenant or any other party, in the manner Landlord shall determine, at Tenant’s expense. 

			
	
			
				 27.
			ATTORNEYS’ FEES.  The prevailing party in any litigation arising out of or in any manner relating to this Lease, including the declaration of any rights or obligations under this Lease, shall be entitled to recover from the losing party reasonable attorneys’ fees and costs.  In addition, if Landlord becomes a party to any suit or proceeding affecting the Premises or involving this Lease or Tenant's interest under this Lease, other than a suit between Landlord and Tenant, or if Landlord engages counsel to collect any of the amounts owed under this Lease, or to enforce performance of any of the agreements, conditions, covenants, provisions, or stipulations of this Lease, without commencing litigation, then the costs, expenses, and reasonable attorneys' fees and disbursements incurred by Landlord shall be paid to Landlord by Tenant.

			
	
			
				 28.
			NOTICES.  Any notice to be given under this Lease may be given either by a party itself or by its attorney or agent and shall be in writing and delivered by hand, by nationally recognized overnight air courier service (such as FedEx), or by the United States Postal Service, registered or certified mail, return receipt requested, in each case addressed to the respective party at the party’s notice address.  A notice shall be deemed effective upon receipt or the date sent if it is returned to the addressor because it is refused, unclaimed, or the addressee has moved.

			
	
			
				 29.
			IMPOSSIBILITY OF PERFORMANCE.  For purposes of this Lease, the term “Unavoidable Delay” shall mean any delays due to strikes, lockouts, civil commotion, war or warlike operations, acts of terrorism, acts of a public enemy, acts of bioterrorism, epidemics, quarantines, invasion, rebellion, hostilities, military or usurped power, sabotage, government regulations or controls, inability to obtain any material, utility, or service because of governmental restrictions, hurricanes, floods, or other natural disasters, acts of God, or any other cause beyond the direct control of the party delayed.  Notwithstanding anything in this Lease to the contrary, if Landlord or Tenant shall be delayed in the performance of any act required under this Lease by reason of any Unavoidable Delay, then provided notice of the Unavoidable Delay is given to the other party within ten days after its occurrence, performance of the act shall be excused for the period of the delay and the period for the performance of the act shall be extended for a reasonable period, in no event to exceed a period equivalent to the period of the delay.  The provisions of this article shall not operate to excuse Tenant from the payment of Rent or from surrendering the Premises at the end of the Lease Term, and shall not operate to extend the Lease Term.  Delays or failures to perform resulting from lack of funds or the increased cost of obtaining labor and materials shall not be deemed delays beyond the direct control of a party.

		 

		

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				 30.
			RELOCATION OF TENANT.  Landlord may move Tenant from any space added to the Premises after the Date of this Lease that is not on the same floor as and contiguous to the original Premises (the “Relocatable Expansion Space”) to a reasonably equivalent space comparable in size and layout within the Project (the “Relocation Space”) on not less than 60 days’ notice to Tenant.  If Landlord relocates Tenant from any Relocatable Expansion Space, Landlord shall perform the interior improvements to the Relocation Space of approximate equivalence to the interior improvements in the Relocatable Expansion Space and pay the reasonable costs of moving Tenant’s property to the Relocation Space.  Landlord will also reimburse Tenant for reasonable costs of replacement of stationery, computer and telephone relocation.  Such a relocation shall not terminate or otherwise modify this Lease except that from and after the date of the relocation, the “Premises” shall refer to the original Premises and the Relocation Space into which Tenant has been moved rather than the Relocatable Expansion Space.  If the rentable area of the Relocation Space is more or less than the rentable area of the Relocatable Expansion Space, then the Base Rent and Tenant’s Allocated Share shall be appropriately adjusted.   

			
	
			
				 31.
			PARKING.  Tenant shall be entitled to use no more than the number of parking spaces in the Parking Areas specified in the Basic Lease Information and Defined Terms article of this Lease.  The parking spaces may only be used by principals, employees, assignees, subtenants and contractors of Tenant.  “Parking Areas” shall mean the areas available for automobile parking in connection with the Building as those areas may be designated by Landlord from time to time.  Except for particular spaces and areas designated from time to time by Landlord for reserved parking, if any, all parking in the Parking Areas shall be on an unreserved, first-come, first-served basis.  Landlord reserves the right to (a) reduce the number of spaces in the Parking Areas, as long as the number of parking spaces remaining is in compliance with all applicable governmental requirements; (b) to reserve spaces for the exclusive use of specific parties; and (c) change the access to the Parking Areas, provided that Tenant continues to have access to 105 covered unreserved spaces in the Parking Areas; and none of the foregoing shall entitle Tenant to any claim against Landlord or to any abatement of Rent.  Landlord shall have no liability to Tenant for unauthorized parking in reserved spaces, and shall not be required to tow any unauthorized vehicles.  Landlord may, in its discretion, from time to time, change the location of any reserved spaces  Notwithstanding anything to the contrary contained in this Lease, Landlord shall have no liability whatsoever for any property damage or loss which may occur in the Parking Area, or as a result of or in connection with the parking of motor vehicles in any of the parking spaces.

			
	
			
				 32.
			FINANCIAL REPORTING.  The following shall apply if at any time Tenant is not a publicly traded company.  From time to time, but no more than once per year in the absence of a default by Tenant, or in connection with a sale or refinancing by Landlord, at Landlord’s request, Tenant shall cause the following financial information to be delivered to Landlord, at Tenant’s sole cost and expense, upon not less than ten days’ advance written notice from Landlord:  (a) a current financial statement, including a balance sheet a statement of income and expenses, for Tenant and Tenant’s financial statements for the previous two accounting years, (b) a current financial statement for any guarantor(s) of this Lease and the guarantor’s financial statements for the previous two accounting years, and (c) such other financial information pertaining to Tenant or any guarantor as Landlord or any lender or purchaser of Landlord may reasonably request.  All financial statements shall be prepared in accordance with generally accepted accounting principles consistently applied and, if such is the normal practice of Tenant, shall be audited by an independent certified public accountant.  Tenant hereby authorizes Landlord, from time to time, without notice to Tenant, to obtain a credit report or credit history on Tenant from any credit reporting company.

			
	
			
				 33.
			WATER OR MOLD NOTIFICATION.  To the extent Tenant or its agents or employees discover any water leakage, water damage or mold in or about the Premises or Project, Tenant shall promptly notify Landlord thereof in writing.  Mold is a naturally occurring substance.  Mold is found both indoors and outdoors.  The presence of mold may cause property damage or health problems.  Unless the presence of mold is caused by Landlord’s failure to comply with its obligations under this Lease, Landlord shall not be liable for any loss, damage or personal injury suffered by Tenant, or any of the Tenant’s officers, directors, employees, or invitees, due to the presence of mold in or around the Building.  Unless the presence of mold is caused by landlord’s failure to comply with its obligations under this Lease, Tenant acknowledges that it shall be Tenant’s responsibility to undertake necessary measures within Tenant’s control to retard and prevent mold from accumulating within the Premises, including, but not limited to, the following:  (a) maintaining appropriate climate control within the Premises; (b) maintaining the cleanliness of the Premises; (c) removing visible moisture accumulations on windows, window sills, walls, floors, ceilings and other surfaces as soon as reasonably possible; and (d) not blocking or covering any heating, ventilating or air conditioning ducts within the Premises.  Tenant shall report immediately in writing to Landlord any evidence of mold or of a water leak or excessive moisture within the Premises, or the Building, of which Tenant becomes aware.  Should Tenant desire a mold inspection or additional information about mold, Tenant should contact a professional in this field.  If Landlord determines that any material concentrations of mold species or mold concentrations are detected in the Premises that are not found in air samples taken in the exterior of the Building and which, in the reasonable business judgment of Landlord, pose a hazard to the health and safety of the occupants of the Premises, and such mold species or mold concentrations were not introduced or caused by Tenant, its agents, employees, subtenants, or contractors (including 
		

		 

		

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			but not limited to due to Tenant’s failure to make repairs to the Premises as required of Tenant under this Lease), Landlord shall remediate any such excess mold concentrations and/or species within the Building, the cost of which shall be included in Operating Costs.  If such mold concentrations or species are caused by Tenant, its agents, employees, subtenants, or contractors, then Tenant shall remediate any such excess mold concentrations at Tenant’s sole cost and expense.

			
	
			
				 34.
			UBTI.  Landlord and Tenant agree that all Rent payable by Tenant to Landlord shall qualify as “rents from real property” within the meaning of both Sections 512(b)(3) and 856(d) of the Internal Revenue Code of 1986, as amended (the “Code”) and the U.S. Department of Treasury Regulations promulgated thereunder (the “Regulations”).  In the event that Landlord, in its sole and absolute discretion, determines that there is any risk that all or part of any Rent shall not qualify as “rents from real property” for the purposes of Sections 512(b)(3) or 856(d) of the Code and the Regulations promulgated thereunder, Tenant agrees (a) to cooperate with Landlord by entering into such amendment or amendments as Landlord deems necessary to qualify all Rents as “rents from real property,” and (b) to permit an assignment of this Lease; provided, however, that any adjustments required pursuant to this Section 25.28 shall be made so as to produce the equivalent Rent (in economic terms) payable prior to such adjustment.

			
	
			
				 35.
			PROHIBITED PERSONS AND TRANSACTIONS.  Tenants represents and warrants that neither it nor, to its knowledge, any of its affiliates, nor any of its respective partners, members, shareholders or other equity owners, and none of their respective employees, officers, directors, representatives or agents is, nor will they become, a person or entity with whom U.S. persons or entities are restricted from doing business under regulations of the Office of Foreign Assets Control (“OFAC”) of the Department of the Treasury (including those named on OFAC’s Specially Designated Nationals and Blocked Persons List) or under any statute, executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action and is not and will not Transfer this Lease to, contract with or otherwise engage in any dealings or transactions or be otherwise associated with such persons or entities.

			
	
			
				 36.
			ERISA.  Tenant represents that (i) neither Tenant nor any entity controlling or controlled by Tenant owns a ten percent (10%) or more interest (within the meaning of Prohibited Transaction Class Exemption 84-14) in JPMorgan Chase Bank, N.A.  (“JPMorgan”) or any of JPMorgan's affiliates, and (ii) neither JPMorgan, nor, to Tenant's actual knowledge (after having used reasonable efforts to ascertain the accuracy of such information), any of its affiliates, owns a ten percent (10%) or more interest in Tenant or any entity controlling or controlled by Tenant.

			
	
			
				 37.
			EXISTING GENERATOR.  Tenant, at its sole expense, shall have the use of the existing power generator (previously serving the seventh floor of the Building) (“Generator”).  The Generator shall be used solely for Tenant’s own business purposes in the event Tenant’s primary electrical service is interrupted and not for the benefit of any other tenant or occupant of the Building.  Upon the expiration or earlier termination of the Lease, if Landlord so directs by written notice to Tenant, the Generator Equipment (as defined below) or any part of it shall be removed by Tenant, at Tenant’s sole expense, and Tenant shall, at its sole expense, repair and restore the portion of the Project affected by the removal.  Tenant may otherwise not remove the Generator which shall remain Landlord’s property.  Tenant shall be solely liable for all costs, claims, and damages (and shall indemnify, defend, and hold Landlord harmless from and against all such matters) related to environmental contamination or fuel spills related in any way to Tenant’s operation of the Generator.

			
	
			
				 37.1
			Installation/Operation.  No changes to the Generator or its related equipment, wiring, and connections to the Premises (together with the Generator, the “Generator Equipment”); shall be made without the prior written consent of Landlord, which shall not be unreasonably withheld.  Landlord shall have the right, in its sole discretion, to disapprove any work that voids or adversely affects any warranty.  Tenant, at its sole expense, shall operate the Generator Equipment in accordance with all applicable laws and requirements of all governmental and quasi-governmental authorities having jurisdiction over the Building (the “Codes”), including obtaining all permits required, and with all requirements or recommendations of Landlord’s insurer, lender, or both, and Landlord’s reasonable rules and regulations.  Tenant shall pay the electrical utility provider directly for the electricity consumed or as billed by Landlord, if any.  Landlord shall not be liable to Tenant for any stoppages or shortages of electrical power furnished to the Generator because of any act, omission, or requirement of any electrical utility provider, or the act or omission of any other tenant or licensee of the Project, or for any other cause beyond the control of Landlord.  Landlord may from time to time relocate the Equipment, or any part of it, to other areas in, at, or upon the Project.  Upon relocation of the Equipment, Tenant’s means of access and cabling will be relocated by Landlord or, at Landlord’s option, by Tenant, as required to operate and maintain the Equipment.

			
	
			
				 37.2
			Service Contract.  As part of its repair and  maintenance obligation, Tenant shall enter into an annual contract with a generator repair firm, fully licensed to repair generators in the State of Florida, which firm shall: (a) regularly service and inspect the Generator Equipment on a monthly basis, changing parts as required; (b) perform emergency and extraordinary repairs on the Generator Equipment; and (c) keep a detailed record of all Generator Equipment services performed on the Premises and 
		

		 

		

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			prepare a yearly service report to be furnished to Tenant at the end of each calendar year.  Tenant shall furnish to Landlord, at the end of each calendar year, a copy of the yearly service report.  Not later than 30 days prior to the Commencement Date and annually thereafter, Tenant shall furnish to Landlord a copy of the maintenance contract described above and proof that the annual premium for the maintenance contract has been paid.

			
	
			
				 37.3
			No Liability.  Landlord shall have no responsibility or liability for the conduct or safety of any of Tenant’s representatives, or repair, maintenance, and engineering personnel while in any part of the Project; and shall not be liable for any charge, fine, cost, expense, or damage to the Generator Equipment or any part of the Project, unless proximately caused solely by Landlord’s gross negligence or willful misconduct.  Tenant shall give Landlord prompt written notice of any accident to any equipment of Landlord.  Landlord shall not be liable for any latent defect or change or modification in the Project or Site, nor for any damage to property or persons caused by any overflow or leakage of water, steam, gas, electricity, or any other substance from any other generator whatsoever, except for such damage caused by the gross negligence or willful misconduct of Landlord.  Tenant shall be solely responsible for any loss or damage to the Generator arising from casualty, fire, flood, tornado, or other acts of God.

			
	
			
				 37.4
			Discontinuance.  If Tenant fails to cure a default under this Section 37 within five Business Days after notice of non-compliance from Landlord, Landlord may require Tenant to discontinue Tenant’s Generator use.

			
	
			
				 38.
			GENERAL PROVISIONS.

			
	
			
				 38.1
			Construction Principles.  The words “including” and “include” and similar words will not be construed restrictively to limit or exclude other items not listed.  This Lease has been negotiated “at arm’s-length” by Landlord and Tenant, each having the opportunity to be represented by legal counsel of its choice and to negotiate the form and substance of this Lease.  Therefore, this Lease shall not be more strictly construed against either party because one party may have drafted this Lease.  If any provision of this Lease is determined to be invalid, illegal, or unenforceable, the remaining provisions of this Lease shall remain in full force, if the essential provisions of this Lease for each party remain valid, binding, and enforceable.  The parties may amend this Lease only by a written agreement of the parties.  This Lease shall constitute the entire agreement of the parties concerning the matters covered by this Lease.  All prior understandings and agreements had between the parties concerning those matters, including all preliminary negotiations, lease proposals, letters of intent, and similar documents, are merged into this Lease, which alone fully and completely expresses the understanding of the parties.  The provisions of this Lease may not be explained, supplemented, or qualified through evidence of trade usage or a prior course of dealings.  In entering into this Lease, neither party has relied upon any statement, representation, warranty, or agreement of the other party except for those expressly contained in this Lease.  There are no conditions precedent to the effectiveness of this Lease, other than those expressly stated in this Lease.  Landlord and Tenant intend that faxed or PDF format signatures constitute original signatures binding on the parties.  This Lease shall bind and inure to the benefit of the heirs, personal representatives, and, except as otherwise provided, the successors and assigns of the parties to this Lease.  Each provision of this Lease shall be deemed both a covenant and a condition and shall run with the land.  Any liability or obligation of Landlord or Tenant arising during the Lease Term shall survive the expiration or earlier termination of this Lease. 

			
	
			
				 38.2
			Radon Gas.  The following notification is provided under Section 404.056(5), Florida Statutes:  “Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time.  Levels of radon that exceed federal and state guidelines have been found in buildings in Florida.  Additional information regarding radon and radon testing may be obtained from your county health department.”

			
	
			
				 38.3
			Corporate Seal.  The scroll seal set forth immediately below the signature of the individual executing this Lease on Tenant’s behalf has been adopted by the corporation as its seal for the purpose of execution of this Lease and the scroll seal has been affixed to this Lease as the seal of the corporation and not as the personal or private seal of the officer executing this Lease on behalf of the corporation.

			
	
			
				 38.4
			Exhibits.  All exhibits, riders, and addenda attached to this Lease shall, by this reference, be incorporated into this Lease.  The following exhibits are attached to this Lease:

			
					
						EXHIBIT “A”

					
					
						–

					
					
						Legal Description of the Project

				
	
					
						EXHIBIT “B”

					
					
						–

					
					
						Location of Premises

				
	
					
						EXHIBIT “C” 

					
					
						–

					
					
						Intentionally Omitted

				
	
					
						EXHIBIT “D”

					
					
						–

					
					
						Rules and Regulations

				
	
					
						EXHIBIT “E”

					
						EXHIBIT “F”

					
					
						–

					
						–

					
					
						Tenant Improvements

					
						Monument Signage

				

		

		

		 

		

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				 39.
			JURY WAIVER; COUNTERCLAIMS.  LANDLORD AND TENANT KNOWINGLY, INTENTIONALLY, AND VOLUNTARILY WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM INVOLVING ANY MATTER WHATSOEVER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS LEASE.

			
	
			
				 40.
			QUIET POSSESSION.  So long as an Event of Default is not occurring, and subject to the Lease terms, Tenant shall have peaceable and quiet enjoyment of the Premises during the Term from interference caused by Landlord, or any party acting by, through, or under Landlord.

		
			IN WITNESS WHEREOF, this Lease has been executed on behalf of Landlord and Tenant as of the Date of this Lease.
		

			
					
						WITNESSES:

					
						 

					
						 

					
						_____________________________________

					
						Signature of Witness 1

					
						 

					
						_____________________________________

					
						Print or type name of Witness 1

					
						 

					
						_____________________________________

					
						Signature of Witness 2

					
						 

					
						_____________________________________

					
						Print or type name of Witness 2

					
						 

					
						 

					
					
						LANDLORD:

					
						 

					
						3801 PGA ACQUISITION COMPANY, a Delaware corporation

					
						 

					
						 

					
						By: ____________________________________

					
						Name:  _________________________________

					
						Title:  __________________________________

					
						 

					
						[CORPORATE SEAL]

					
						 

					
						Date Executed:  ___________________________

					
						 

				
	
					
						 

					
						_____________________________________

					
						Signature of Witness 1

					
						 

					
						_____________________________________

					
						Print or type name of Witness 1

					
						 

					
						_____________________________________

					
						Signature of Witness 2

					
						 

					
						_____________________________________

					
						Print or type name of Witness 2

					
						 

					
						 

					
					
						TENANT:

					
						 

					
						BANKRATE, INC., a Delaware corporation

					
						 

					
						 

					
						 

					
						By: ____________________________________

					
						Name:  _________________________________

					
						Title*:  __________________________________

					
						 

					
						[CORPORATE SEAL]

					
						 

					
						Date Executed:  ________________________

					
						 

					
						*Must be the President, any Vice President, or Chief Executive Officer

				

		
			 
		

		

		

		 

		

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		EXHIBIT “A”
		

			
					
						LEGAL DESCRIPTION OF THE PROJECT

				

		
			 
		

		
			PARCEL 1:
		

		
			Parcel “C”, THE MEDICAL MALL AT PALM BEACH GARDENS PLAT 1, according to the Plat thereof, as recorded in Plat Book 74, Page 80, of the Public Records of Palm Beach County, Florida.
		

		
			PARCEL 2:
		

		
			TOGETHER WITH a non-exclusive easement for the purpose of access, ingress and egress upon Parcel “B”, THE MEDICAL MALL AT PALM BEACH GARDENS PLAT 1, according to the Plat thereof, as recorded in Plat Book 74, Page 80, pursuant to Covenants, Restrictions and Easements recorded in Official Records Book 11936, Page 752, of the Public Records of Palm Beach County, Florida.
		

		
			 
		

		

		

		 

		

			A - 1

		

		

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		EXHIBIT “B”
		

		
			LOCATION OF PREMISES
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			The above plan is for location of Premises only and is not a representation by Landlord as to any other improvements shown.
		

		
			 
		

		

		

		 

		

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		EXHIBIT “C”
		

		
			Intentionally Omitted
		

		
			 
		

		

		

		 

		

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		EXHIBIT “D”
		

		
			RULES AND REGULATIONS
		

		
			The following rules and regulations shall apply to the Premises, the Building, any parking garage or other parking lot or facility associated therewith, and the appurtenances thereto:
		

			
	
			
				1.
			Sidewalks, doorways, vestibules, halls, stairways, and other similar areas shall not be obstructed by tenants or used by any tenant for purposes other than ingress and egress to and from their respective leased premises and for going from one to another part of the Building.  The halls, passages, exits, entrances, elevators, stairways, balconies and roof are not for the use of the general public and Landlord shall, in all cases, retain the right to control and prevent access thereto by all persons whose presence in the judgment of Landlord, reasonably exercised, shall be prejudicial to the safety, character, reputation and interests of the Project.  No Tenant Party shall go upon the roof of the Project.

			
	
			
				2.
			Plumbing, fixtures and appliances shall be used only for the purposes for which designed, and no sweepings, rubbish, rags or other unsuitable material shall be thrown or deposited therein.  Damage resulting to any such fixtures or appliances from misuse by a tenant or its agents, employees or invitees, shall be paid by such tenant.

			
	
			
				3.
			No signs, advertisements or notices (other than those that are not visible outside the Premises) shall be painted or affixed on or to any windows or doors or other part of the Building without the prior written consent of Landlord.  No nails, hooks or screws (other than those which are necessary to hang paintings, prints, pictures, or other similar items on the Premises’ interior walls) shall be driven or inserted in any part of the Building except by Building maintenance personnel.  No curtains or other window treatments shall be placed between the glass and the Building standard window treatments.

			
	
			
				4.
			Landlord shall provide all initial door locks at the entry of each tenant’s leased premises, at  Landlord’s cost, and no tenant shall place any additional door locks in its leased premises without Landlord’s prior written consent.  Landlord shall furnish to Tenant one key and/or access card to each of Tenant’s employees to be located within Premises, at Landlord’s cost, and Tenant shall not make a duplicate thereof.  Replacement keys and/or access cards shall be provided on a reasonable basis and at Tenant’s cost.

			
	
			
				5.
			Movement in or out of the Building of furniture or office equipment, or dispatch or receipt by tenants of any bulky material, merchandise or materials which require use of elevators or stairways, or movement through the Building entrances or lobby shall be conducted under Landlord’s supervision at such times and in such a manner as Landlord may reasonably require.  Each tenant assumes all risks of and shall be liable for all damage to articles moved and injury to persons or public engaged or not engaged in such movement, including equipment, property and personnel of Landlord if damaged or injured as a result of acts in connection with carrying out this service for such tenant.

			
	
			
				6.
			Landlord may prescribe weight limitations and determine the locations for safes and other heavy equipment or items, which shall in all cases be placed in the Building so as to distribute weight in a manner acceptable to Landlord which may include the use of such supporting devices as Landlord may require.  All damages to the Building caused by the installation or removal of any property of a tenant, or done by a tenant’s property while in the Building, shall be repaired at the expense of such tenant.

			
	
			
				7.
			Corridor doors, when not in use, shall be kept closed.  Nothing shall be swept or thrown into the corridors, halls, elevator shafts or stairways.  No bicycles, birds or animals (other than seeing-eye dogs) shall be brought into or kept in, on or about any tenant’s leased premises.  No portion of any tenant’s leased premises shall at any time be used or occupied as sleeping or lodging quarters.

			
	
			
				8.
			Tenant shall cooperate with Landlord’s employees in keeping its leased premises neat and clean.  Tenants shall not employ any person for the purpose of such cleaning other than the Building’s cleaning and maintenance personnel.

			
	
			
				9.
			To ensure orderly operation of the Building, no ice, mineral or other water, towels, newspapers, etc. shall be delivered to any leased area except by persons approved by Landlord.

			
	
			
				10.
			Tenant shall not make or permit any vibration or improper, objectionable or unpleasant noises or odors in the Building or otherwise interfere in any way with other tenants or persons having business with them.

		 

		

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				11.
			No machinery or appliances of any kind (other than normal office equipment and normal break room appliances) shall be operated by any tenant on its leased area without Landlord’s prior written consent, nor shall any tenant use or keep in the Building any flammable or explosive fluid or substance (other than typical office supplies [e.g., photocopier toner] used in compliance with all laws).

			
	
			
				12.
			Landlord will not be responsible for lost or stolen personal property, money or jewelry from tenant’s leased premises or public or common areas regardless of whether such loss occurs when the area is locked against entry or not.

			
	
			
				13.
			No vending or dispensing machines of any kind may be maintained in any leased premises without the prior written permission of Landlord.

			
	
			
				14.
			Tenant shall not conduct any activity on or about the Premises or Building which will draw pickets, demonstrators, or the like.

			
	
			
				15.
			All vehicles are to be currently licensed, in good operating condition, parked for business purposes having to do with Tenant’s business operated in the Premises, parked within designated parking spaces, one vehicle to each space.  No vehicle shall be parked as a “billboard” vehicle in the parking lot.  Any vehicle parked improperly may be towed away.  Tenant, Tenant’s agents, employees, vendors and customers who do not operate or park their vehicles as required shall subject the vehicle to being towed at the expense of the owner or driver.  Landlord may place a “boot” on the vehicle to immobilize it and may levy a charge of $50.00 to remove the “boot.” Tenant shall indemnify, hold and save harmless Landlord from any liability arising from the towing or booting of any vehicles belonging to Tenant Party. 

			
	
			
				16.
			No tenant may enter into phone rooms, electrical rooms, mechanical rooms, or other service areas of the Building unless accompanied by Landlord or the Building manager.

			
	
			
				17.
			Tenant will not permit any Tenant Party to bring onto the Project any handgun, firearm or other weapons of any kind, illegal drugs or, unless expressly permitted by Landlord in writing, alcoholic beverages.

			
	
			
				18.
			Tenant shall not permit any Tenant Party to smoke in the Premises or anywhere else on the Project, except in any Landlord-designated smoking area outside the Building.  Tenant shall cooperate with Landlord in enforcing this prohibition and use its best efforts in supervising each Tenant Party in this regard.

			
	
			
				19.
			Tenant shall not allow any Tenant Party to use any type of portable space heater in the Premises or the Building.

			
	
			
				20.
			Only artificial holiday decorations may be placed in the Premises, no live or cut trees or other real holiday greenery may be maintained in the Premises or the Building.

			
	
			
				21.
			Tenant shall not park or operate any semi-trucks or semi-trailers in the parking areas associated with the Building.

			
	
			
				22.
			Tenant shall cooperate fully with Landlord to assure the most effective operation of the Premises or the Project’s heating and air conditioning, and shall refrain from attempting to adjust any controls, other than room thermostats installed for Tenant’s use.  Tenant shall keep corridor doors closed and shall turn off all lights before leaving the Project at the end of the day.

			
	
			
				23.
			Without the prior written consent of Landlord, Tenant shall not use the name of the Project or any picture of the Project in connection with, or in promoting or advertising the business of, Tenant, except Tenant may use the address of the Project as the address of its business.

			
	
			
				24.
			Tenant shall not exhibit, sell or offer for sale, rent or exchange in the Premises or at the Project any article, thing or service to the general public or anyone other than Tenant’s employees without the prior written consent of Landlord.

			
	
			
				25.
			Tenant shall ensure that all portions of the leased premises visible from any interior Building common areas are lighted at all times during normal business hours regardless whether the leased premises are occupied.

		
			 
		

		

		

		 

		

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		EXHIBIT “E”
		

		
			TENANT IMPROVEMENTS
		

			
					
						Tenant Builds at Tenant’s Cost 

				

			
	
			
				 1.
			Condition of Premises.  Landlord has made no representation or promise as to the condition of the Premises.  Landlord shall not perform any alterations, additions, or improvements in order to make the Premises suitable and ready for occupancy and use by Tenant.  Tenant has inspected the Premises, is fully familiar with the physical condition of the Premises, and shall accept the Premises “as-is,” “where-is,” without any warranty, express or implied, or representation as to fitness or suitability.  Landlord shall not be liable for any latent or patent defect in the Premises or for any costs or expenses related in any way to the Tenant Improvements, except as expressly set forth in this Exhibit.

			
	
			
				 2.
			Plans.  Tenant shall, at its sole cost and expense, perform all work necessary or desirable for Tenant’s occupancy of the Premises (the “Tenant Improvements”).  The performance of any Tenant Improvements by Tenant is not a required condition to this Lease.  Within 21 days after the Date of this Lease, Tenant shall furnish to Landlord, for Landlord's written approval, a permit set (final construction drawings) of plans and specifications for the Tenant Improvements (the “Plans”).  The Plans shall include the following:  fully dimensioned architectural plan; electric/telephone outlet diagram; reflective ceiling plan with light switches; mechanical plan; furniture plan; electric power circuitry diagram; plumbing plans; all color and finish selections; all special equipment and fixture specifications; and fire sprinkler design drawings.  Tenant shall submit the approved Plans to applicable building authorities for permit within five days following Landlord's approval and Tenant shall thereafter diligently pursue obtaining its building permits.  The Plans will be prepared by a licensed architect and the electrical and mechanical plans will be prepared by a licensed professional engineer.  The Plans shall be produced on CAD.  The architect and engineer will be subject to Landlord's approval, which shall not be unreasonably withheld.  The Plans shall comply with all applicable laws, ordinances, directives, rules, regulations, and other requirements imposed by any and all governmental authorities having or asserting jurisdiction over the Premises.  Landlord shall review the Plans and either approve or disapprove them within a reasonable period of time.  Should Landlord disapprove them, Tenant shall make any necessary modifications and resubmit the Plans to Landlord in final form within ten days following receipt of Landlord’s disapproval of them.

			
	
			
				 3.
			Contractor.  The Tenant Improvements shall be constructed by a licensed and insured general contractor selected and paid by Tenant and approved by Landlord.  At Landlord’s option, the general contractor shall obtain a payment and performance bond in form complying with Section 713.23, Florida Statutes.  A copy of the bond, the contractor's license(s) to do business in the jurisdiction(s) in which the Premises are located, the fully executed contract between Tenant and the general contractor, the general contractor’s work schedule, and all building or other governmental permits required for the Tenant Improvements shall be delivered to Landlord before commencement of the Tenant Improvements.  Tenant shall cause the Tenant Improvements to be completed promptly and with due diligence, and in accordance with the Plans in a good and workmanlike manner using new materials in accordance with Building standards.  All work shall be done in compliance with all other applicable provisions of this Lease and with all applicable laws, ordinances, directives, rules, regulations, and other requirements of any governmental authorities having or asserting jurisdiction over the Premises, including the making of any alterations or improvements to the Premises or the Project which are required to comply with the ADA and the payment by Tenant of any impact fees or assessments arising from the Tenant Improvements or occupancy.  Before the commencement of any work by Tenant, Tenant shall furnish to Landlord certificates evidencing the existence of builder’s risk, commercial general and auto liability, and workers' compensation insurance complying with the requirements for contractors set forth in the Alterations article of this Lease, or as otherwise required by Landlord.  Any damage to any part of the Project that occurs as a result of the Tenant Improvements shall be promptly repaired by Tenant.

			
	
			
				 4.
			Compliance.  Tenant shall also ensure compliance with the following requirements concerning construction, including all future Alterations:

			
	
			
				 4.1
			Tenant and all construction personnel shall abide by Landlord’s job site rules, requirement, and regulations (whether supplemental or additional to the requirements set forth in this Lease), and fully cooperate with Landlord’s construction representatives in coordinating all construction activities in the Project, including rules and regulations concerning working hours and parking, and, if applicable, use of the construction elevator.

			
	
			
				 4.2
			All transportation of construction materials shall be on the padded construction elevator only, if any.

		 

		

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				 4.3
			Tenant shall deliver to Landlord all forms of approval provided by the appropriate local governmental authorities to certify that the Tenant Improvements have been completed and the Premises are ready for occupancy, including original building permit and a final, unconditional Certificate of Occupancy or its equivalent, including a Certificate of Completion or  Certificate of Final Inspection.

			
	
			
				 4.4
			At all times during construction, Tenant shall allow Landlord access to the Premises for inspection purposes.  On completion of the Tenant Improvements, Tenant’s general contractor shall review the Premises with Landlord and Tenant and secure Landlord’s and Tenant’s acceptance of the Tenant Improvements.

			
	
			
				 4.5
			Tenant shall be responsible for cleaning up any refuse or other materials left behind by construction personnel at the end of each work day.  If required by Landlord, Workers shall provide their own temporary toilet facilities, trash facilities, water coolers, and construction materials dumpsters and shall locate them along with any construction trailers or field offices in areas specifically designated by Landlord.

			
	
			
				 4.6
			Any work that may disturb tenants of the Building (including welding, cutting torch, drilling or cutting of the concrete floor slab or temporary interruption of any utility service), shall only occur before or after normal business hours and as otherwise specified by Landlord.  No painting or spraying of chemicals, varnishes, lacquers, finishes, or paint will be allowed during normal business hours.  Such activities shall only occur during days and times specifically preapproved by Landlord.  All workers must stay in their designated work areas and the use of radios, loud music, alcoholic beverages, narcotics, or cigarette smoking is prohibited on the Project.

			
	
			
				 4.7
			Reasonable quantities of water and electricity for lighting, portable power tools, and other common uses as well as use of the construction elevator will be furnished to the contractor at a cost to be assigned at the completion of the job based on usage during the build-out period (including Building standard charges for use of the elevator).  The contractor shall make all utility connections, furnish any necessary extensions, and promptly and professionally remove such connections and extensions on completion of work.

			
	
			
				 4.8
			Any work that will involve the draining of a sprinkler line or otherwise affect the Building’s fire sprinkler system must be approved by Landlord in advance.  In all instances where this is done, the system shall not be left inoperable overnight or over a prolonged period.

			
	
			
				 4.9
			All equipment installed shall be compatible with the base building fire alarm system and the contractor shall warrant that any connection to the base building fire alarm system shall only occur after proper notification to Landlord and on an after-hours basis.  Any disruption to the existing fire alarm system or damage as a result of contractor’s work will be the sole responsibility of Tenant.

			
	
			
				 4.10
			All additional electrical circuits added to existing electrical panels or any new circuits added to new electrical panels will be appropriately labeled as to the area or equipment serviced by the circuit in question.  Any electrical panel covers removed to facilitate installation or connection shall be reattached.

			
	
			
				 4.11
			Tenant shall deliver copies of all Notices to Owner received from subcontractors, vendors, trade contractors and all others giving Notice to Owner under applicable Construction Lien Law within five days of receipt of such notices.

			
	
			
				 4.12
			Upon completion of the Tenant Improvements Tenant shall also deliver to Landlord two complete copies of each of the following:

			
	
			
				 (a)
			“as-built” construction documents in PDF file format on CDs;

			
	
			
				 (b)
			general contractor’s one-year warranty and subcontractor warrantees, as well as factory warrantees on equipment installed;

			
	
			
				 (c)
			operating and maintenance manuals for all equipment installed;

			
	
			
				 (d)
			fire sprinkler system permit set of drawings;

		 

		

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				 (e)
			HVAC test and balance reports;

			
	
			
				 (f)
			subcontractor listing with contact and phone numbers included;

			
	
			
				 (g)
			final payment application from general contractor; and

			
	
			
				 (h)
			final releases of lien from Tenant’s general contractor and all lienors giving notice as defined in the Florida Construction Lien Law  (in form required by Landlord) and a final contractor’s affidavit from the general contractor in accordance with the Florida Construction Lien Law, indicating all "lienors" have been paid in full.

			
	
			
				 5.
			Tenant Improvement Cost. Tenant shall spend the Tenant Improvement Cost set forth in the Basic Lease Information and Defined Terms section of this Lease for the Tenant Improvements to the Premises and complete the Tenant Improvements to such extent of the Tenant Improvement Cost by no later than February 1, 2015.  Such date shall be subject to extension for Unavoidable Delays (but shall not be subject to any additional cure periods).  Landlord and Tenant acknowledge and agree that, in lieu of Landlord performing a build-out of the Premises and/or providing Tenant a tenant improvement allowance, Landlord, as a material inducement for Tenant to pay for and construct the Tenant Improvements upon the Premises, has provided the Rent Abatement to Tenant.

		
			 
		

		
			 
		

		

		

		 

		

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		exhibit “f”
		

		
			 
		

		
			monument signage
		

		
			 
		

		
			 
		

		 

		

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