Document:

Exhibit 10.2

 

NEW JERSEY

FINAL DRAFT

Revised 1/7/99

 

LEASE

 

BRANDYWINE REALTY TRUST

 

Landlord

 

and

 

AMTRALEASE TRUCK LEASING SERVICES CORP., 
 T/A AMERIQUEST,

 

Tenant

 

for Suite 220

 

LIBERTYVIEW

457 Haddonfield Road

Cherry Hill, New Jersey

 

 

TABLE OF CONTENTS

 

	
 
    	
 
    	
Page
    
	
1.
    	
SUMMARY OF DEFINED TERMS
    	
1
    
	
2.
    	
PREMISES
    	
2
    
	
3.
    	
TERM
    	
3
    
	
4.
    	
CONSTRUCTION BY LANDLORD
    	
3
    
	
5.
    	
FIXED RENT; SECURITY   DEPOSIT
    	
4
    
	
6.
    	
ADDITIONAL RENT
    	
4
    
	
7.
    	
ELECTRICITY CHARGES
    	
8
    
	
8.
    	
SIGNS; USE OF PREMISES AND   COMMON AREAS
    	
9
    
	
9.
    	
ENVIRDNMENTAL MATTERS
    	
9
    
	
10.
    	
TENANT’S ALTERATIONS
    	
12
    
	
11.
    	
CONSTRUCTION LIENS
    	
13
    
	
12.
    	
ASSIGNMENT AND SUBLETTING
    	
13
    
	
13.
    	
LANDLORD’S RIGHT OF ENTRY
    	
14
    
	
14.
    	
REPAIRS AND MAINTENANCE
    	
14
    
	
15.
    	
INSURANCE; SUBROGATION   RIGHTS
    	
15
    
	
16.
    	
INDEMNIFICATION
    	
17
    
	
17.
    	
QUIET ENJOYMENT
    	
17
    
	
18.
    	
FIRE DAMAGE
    	
17
    
	
19.
    	
SUBORDINATION; RIGHTS OF   MORTGAGEE
    	
18
    
	
20.
    	
CONDEMNATION
    	
19
    
	
21.
    	
ESTOPPEL CERTIFICATE
    	
20
    
	
22.
    	
DEFAULT
    	
20
    
	
23.
    	
CURING TENANT’S DEFAULTS
    	
24
    
	
24.
    	
LANDLORD’S LIEN   INTENTIONALLY DELETED
    	
24
    
	
25.
    	
LANDLORD’S REPRESENTATIONS   AND WARRANTIES. Landlord represents and warrants to Tenant as follows:
    	
24
    
	
26.
    	
SURRENDER
    	
24
    
	
27.
    	
RULES AND REGULATIONS
    	
25
    
	
28.
    	
GOVERNMENTAL REGULATIONS
    	
25
    
	
29.
    	
NOTICES
    	
26
    
	
30.
    	
BROKERS
    	
26
    
	
31.
    	
CHANGE OF BUILDING/PROJECT   NAME
    	
26
    

 

i

 

	
32.
    	
LANDLORD’S LIABILITY
    	
26
    
	
33.
    	
AUTHORITY
    	
27
    
	
34.
    	
NO OFFER
    	
27
    
	
35.
    	
RENEWAL
    	
27
    
	
36.
    	
RELOCATION
    	
27
    
	
37.
    	
MISCELLANEOUS PROVISIONS
    	
27
    
	
38.
    	
WAIVER OF TRIAL BY JURY
    	
29
    
	
39.
    	
CONSENT TO JURISDICTION
    	
29
    

 

[INSERT TOC]

 

EXHIBITS

 

	
EXHIBIT “A”
    	
SPACE PLAN OF PREMISES
    
	
EXHIBIT “B”
    	
CONFIRMATION OF LEASE TERM
    
	
EXHIBIT “C”
    	
RULES AND REGULATIONS
    
	
EXHIBIT “D”
    	
CLEANING SPECIFICATIONS
    

 

ii

 

LEASE

 

THIS LEASE (“Lease”) entered into as of the 14 day of January, 1999, between BRANDYWINE REALTY TRUST, a Maryland real estate investment trust (“Landlord”), and AmtraLease Truck Leasing Services Corp., t/a Ameriquest, with its principal place of business at 457 Haddonfield Road, Cherry Hill, New Jersey (“Tenant”).

 

WITNESSETH

 

In consideration of the mutual covenants herein set forth, and-intending to be legally bound, the parties hereto covenant and agree as follows:

 

1.                                      SUMMARY OF DEFINED TERMS

 

The parties agree that the following defined terms, as used in this Lease, shall have the meanings and shall be construed as set forth below:

 

(a)                                 “Building”: The Building located at 457 Haddonfield Road, Cherry Hill, NJ.

 

(b)                                 “Project”: The Building, the land and all other improvements located at 457 Haddonfield Road.

 

(c)                                  “Premises”: Suite No. 220, being a 3,310 rentable square foot portion of the Second Floor of the Building shown on the space plan attached hereto as Exhibit “A” and made a part hereof.

 

(d)                                 “Term”: From the Commencement Date for a period of 60 months.

 

(e)                                  “Fixed Rent”:

 

	
LEASE YEAR
    	
 
    	
PER R.S.F.
    	
 
    	
MONTHLY
   INSTALLMENTS
    	
 
    	
ANNUAL
   FIXED RENT
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Year 1
    	
 
    	
$21.50, plus electric
    	
 
    	
$
    	
5,930.42
    	
 
    	
$
    	
71,165.04
    	
 
    
	
Year 2
    	
 
    	
$21.75, plus electric
    	
 
    	
$
    	
5,993.37
    	
 
    	
$
    	
71,920.44
    	
 
    
	
Year 3
    	
 
    	
$22.00, plus electric
    	
 
    	
$
    	
6,068.33
    	
 
    	
$
    	
72,819.96
    	
 
    
	
Year 4
    	
 
    	
$22.25, plus electric
    	
 
    	
$
    	
6,137.29
    	
 
    	
$
    	
73,647.48
    	
 
    
	
Year 5
    	
 
    	
$22.50, plus electric
    	
 
    	
$
    	
6,206.25
    	
 
    	
$
    	
74,475.00
    	
 
    

 

(f)                                   “Security Deposit”:                                                                                                                                        $ 5,930.42

 

(g)                                  “Estimated Occupancy Date”:                                                                           March 1, 1999

 

(h)                                 “Tenant’s Allocated Share”:                                                                                       2.72 %

Expense Stop                                                                                                                                                                      $ 6.50 per square foot

 

(i)                                     “Rentable Area”:                                                                                                                                                  Premises:                                             3,310

Building:                                               127,737

 

(j)                                    “Permitted Uses”: Tenant’s use of the Premises shall be limited to general office use and storage incidental thereto.  Tenant’s rights to use the Premises shall be subject

 

 

to all applicable laws and governmental rules and regulations and to all reasonable requirements of the insurers of the Building.

 

(k)                                 “Broker”:                                          None

 

(l)                                     “Notice Address/Contact”:

 

Tenant:                                                                                                     AmtraLease Truck Leasing Services Corp., t/a Ameriquest

LibertyView - Suite 220

457 Haddonfield Road

Cherry Hill, New Jersey 08034

Attn: Douglas Clark

 

with a copy to:

 

Dilworth Paxson LLP

Suite 700

LibertyView

P.O. Box 2570

Cherry Hill, New Jersey 08034

Attn: Richard J Jubanyik

 

Landlord:                                                                                          BRANDYWINE OPERATING PARTNERSHIP, L.P.

10000 Midlantic Drive, Suite 300 West

Mt. Laurel, NJ 08054

Attention:  George D. Sowa

Vice President

 

with a copy to:

Brandywine Realty Trust

16 Campus Blvd.

Suite 150

Newtown Square, Pennsylvania 19073

Attn:     Brad A. Molotsky

General Counsel

 

(m)                             “Tenant’s Standard Industrial Classification Number”:                                        4212

 

(n)                                 Additional Rent: All sums of money or charges required to be paid by Tenant under this Lease other than Fixed Rent, whether or not such sums or charges are designated as Additional Rent.

 

Rent: All Annual Fixed Rent, monthly installments of Annual Fixed Rent, Fixed Rent and Additional Rent payable by Tenant to Landlord under this Lease.

 

2.                                      PREMISES

 

Landlord does hereby lease, demise and let unto Tenant and Tenant does hereby hire and lease from Landlord the Premises for the Term, upon the provisions, conditions and limitations set forth herein.

 

2

 

3.                                      TERM.

 

(a)                                 The Term of this Lease shall commence (the “Commencement Date”) the date which is the earlier of (I) when Tenant, with Landlord’s prior consent, assumes possession of the Premises and commence business operations therein or any part thereof, or (II) upon substantial completion of the Improvements required to be made by Landlord, if any.  The Premises shall be deemed substantially completed when the improvements called for by Article 4 have been completed to the extent that the Premises may be occupied by Tenant for its Permitted Uses, subject only to completion of minor finishing, adjustment of equipment, and other minor construction aspects, and Landlord has procured a permanent certificate of occupancy permitting the occupancy the Premises.  Landlord shall endeavor to have the Premises substantially completed on or before March 1, 1999.

 

(b)                                 Upon notification by Landlord, Landlord and Tenant shall schedule a pre-occupancy inspection of the Premises at which time a punchlist of outstanding items, if any, shall be completed within a reasonable time thereafter by Landlord for conformance to the construction plans and a letter of acceptance of the Premises shall be executed by both parties.  The Commencement Date shall be confirmed by Landlord and Tenant by the execution of a Confirmation of Lease Term in the form attached hereto as Exhibit “B”.  If Tenant fails to execute or object to the Confirmation of Lease Term within ten (10) business days of its delivery, Landlord’s determination of such dates shall be deemed accepted.

 

(c)                                  In the event that the Premises are not ready for Tenant’s occupancy at the time herein fixed for the beginning of the Term of this Lease, because of any alterations or construction now or hereafter being carried on either to the Premises or the Building (unless such alterations are being done by Tenant or Tenant’s contractor, in which case there shall be no suspension or proration of rental or other sums), or because of any restrictions, limitations or delays caused by government regulations or governmental agencies, this Lease and the Term hereof shall not be affected thereby, nor shall Tenant be entitled to make any claim for or receive any damages whatsoever from Landlord, and the term hereof shall nevertheless end on the date herein originally fixed, but no rent or other sums herein provided to be paid by Tenant shall become due until the Premises are substantially completed and deemed by Landlord to be ready for Tenant’s occupancy, and until that time, the rent and other sums due hereunder shall be suspended.  Notwithstanding, if the Premises are not completed to the extent to permit Tenant’s occupancy by June 1, 1999, Tenant may, by notice in writing, terminate this Lease and upon a return to the Tenant of any monies paid hereunder, the parties shall have no further liability to each other.

 

4.                                      CONSTRUCTION BY LANDLORD

 

(a)                                 Landlord shall construct and do such other work (collectively, the “Landlord’s Work”) in substantial conformity with the plans and outline specifications of the plan prepared by Cathers & Associates Inc. dated 10/15/98 and the engineering specifications from Cathers & Associates dated 11/6/98, which have been initialed by the parties, and which are herein incorporated by reference.  Landlord shall deliver Premises Turn Key per Exhibit A, using Building Standard finishes.  Landlords cost not to exceed $26.00 per square foot including space planning and architectural plans.  Any changes to Exhibit A, which are not warranted for code reasons, or upgrades of finishes, if over the Landlords cost per square foot, costs shall be borne by Tenant.  If any material revision or supplement to Landlord’s Work is deemed necessary by Landlord, those revisions and supplements shall be submitted to Tenant for approval, which approval shall not be unreasonably withheld or delayed.  If any change, revision or supplement to the scope of the Landlord’s Work is

 

3

 

requested by Tenant or if Tenant fails to provide information or cooperation required by Landlord in connection with Landlord’s Work within the time periods required (each, a “Tenant’s Delay”) then such occurrence shall not change the Commencement Date of the Term and shall not alter Tenant’s obligations under this Lease so long as Landlord advises Tenant in writing of such Tenant’s Delay on or before five (5) business days from the date of the occurrence of the event giving rise to the Tenant’s Delay.  The Term shall commence on the date the Premises would have been delivered to Tenant but for Tenant’s Delay.  Tenant shall be solely responsible for all reasonably documented and invoiced expenses which increase the costs incurred in connection with a Tenant requested change in the scope of the Landlord Work (including the finishes set forth therein).

 

(b)                                 Landlord shall endeavor to have the Landlord’s Work be substantially completed by the Estimated Occupancy Date; provided, however, that the Estimated Occupancy Date shall be extended for that additional time equal to the aggregate time lost by Landlord due to strikes or other labor disputes not caused by Landlord, Tenant’s Delay, intervening additional governmental restrictions, scarcity of labor or materials, war or other emergency, accidents, floods, fire or other casualties, atypical adverse weather conditions, or any cause which is beyond the reasonable control of Landlord.

 

5.                                      FIXED RENT; SECURITY DEPOSIT

 

(a)                                 Tenant shall pay to Landlord without notice or demand, and without set-off, the annual Fixed Rent payable in the monthly installments of Fixed Rent as set forth in Article 1(e), in advance on the first day of each calendar month during the Term by mail to:

 

Brandywine Realty Services Corp., Agent

P.O. Box 8538-363

Philadelphia, PA 19171

(please, include name of building and suite)

 

Notwithstanding the immediately preceding sentence, the first month’s installment and the security deposit shall be paid upon the execution of this Lease by Tenant by two separate checks.  Otherwise, Fixed Rent shall not commence nor be due and owing until the Commencement Date.

 

(b)                                 In the event any Fixed Rent or Additional Rent, charge, fee or other amount due from Tenant under the terms of this Lease are not paid to Landlord within five (5) days of the date due, Tenant shall also pay as Additional Rent a service and handling charge equal to ten (10%) percent of the total payment then due.  This provision shall not prevent Landlord from exercising any other remedy herein provided or otherwise available at law or in equity in the event of any default by Tenant.

 

Tenant shall be required to pay a security deposit of $ 5,930.42 under this Lease.

 

6.                                      ADDITIONAL RENT

 

(a)                                 Commencing January 1, 1999, and in each calendar year thereafter during the Term (as same may be extended), Tenant shall pay to Landlord, as additional rent, within thirty (30) days after Landlord certifies to Tenant the amount thereof, the following charges (“Recognized Expenses”), without deduction or set off, such charges to be based upon Tenant’s Allocated Share of such charges in excess of the Expense Stop, as stated in Article 1(h) herein.

 

4

 

(1)                                 Insurance Premiums.  All premiums paid or payable by Landlord for insurance with respect to the Project as follows:

 

(a)                                 Fire and extended coverage insurance (including demolition and debris removal);

 

(b)                                 Insurance against Landlord’s rental loss or abatement (but not including business interruption coverage on behalf of Tenant), from damage or destruction from fire or other casualty;

 

(c)                                  Landlord’s comprehensive liability insurance (including bodily injury and property damage) and boiler insurance; and

 

(d)                                 Such other insurance as Landlord or any reputable mortgage lending institution holding a mortgage on the Premises may require.

 

If the coverage period of any of such insurance obtained by Landlord commences before or extends beyond the Term, the premium therefore shall be prorated to the Term.  If any such insurance is provided by blanket coverage, the part of the premium allocated to the Project shall be equitably determined by Landlord but shall not exceed the amount of premium due if insurance was provided by a policy only insuring the Project.  Should Tenant’s occupancy or use of the Premises at any time change and thereby cause an increase in such insurance premiums on the Premises, Building and/or Project, Tenant shall pay to Landlord the entire amount of such increase.

 

(2)                                 Operating Expenses.  All costs and expenses related to the Project incurred and paid by Landlord during the Term, including, but not limited to:

 

(a)                                 All costs and expenses related to the operation of the Building and Project, including, but not limited to, lighting, cleaning the building exterior and common areas of the building interior, trash removal and recycling repairs and maintenance of fire suppression and alarm systems, utilities benefiting the common area, removing snow, ice and debris and maintaining all landscape areas, (including replacing and replanting flowers, shrubbery and trees), maintaining and repairing all other exterior improvements on the Project, all repairs and compliance costs necessitated by laws enacted or which become effective after the date hereof (including, without limitation, any additional regulations or requirements enacted after the date hereof regarding the American With Disabilities Act (as such applies to the Project or common areas but not to any individual tenant’s space), storm water runoff and roof, if applicable) required of Landlord under applicable laws, rules and regulations and policing and regulating traffic to and from the Project.  Landlord’s obligation to provide snow removal services shall be limited to the parking areas and the sidewalk entrances.

 

(b)                                 All costs and expenses incurred by Landlord for ordinary compliance type environmental testing, sampling or monitoring required by statute, regulation or order of governmental authority, necessary except any costs or expenses incurred in conjunction with the spilling or depositing of any hazardous substance for which any person or other tenant is legally liable.

 

(c)                                  Any other expense or charge which would be considered an expense of maintaining, operating or repairing the Project under generally accepted accounting principles.

 

5

 

(d)                                 Management fee not to exceed five (5%) percent of Fixed Rent which is applicable to the overall operation of the Project.  It is expressly understood that legal fees incurred in an action against an individual tenant shall not be deemed includable as an operating expense pursuant to this provision.

 

Notwithstanding the foregoing, the term “Recognized Expenses” shall not include any of the following:

 

(A)                               Repairs or other work occasioned by fire, windstorm or other insured casualty plus and deductibles or by the exercise of the right of eminent domain;

 

(B)                               Leasing commissions, accountants’, consultants’, auditors or attorneys’ fees, costs and disbursements and other expenses incurred in connection with negotiations or disputes with other tenants or prospective tenants or other occupants, or associated with the enforcement of any other leases or the defense of Landlord’s title to or interest in the real property or any part thereof;

 

(C)                               Costs incurred by Landlord in connection with construction of the Building and related facilities, the correction of latent defects in construction of the Building or the discharge of Landlord’s Work;

 

(D)                               Costs (including permit, licenses and inspection fees) incurred in renovating or otherwise improving or decorating, painting, or redecorating the Building or space for other tenants or other occupants or vacant space;

 

(E)                                Costs of any items or services sold or provided to tenants (including Tenant) for which Landlord is reimbursed by such tenants,

 

(F)                                 Depreciation and amortization;

 

(G)                               Costs incurred due to a breach by Landlord or any other tenant of the terms and conditions of any lease;

 

(H)                              Overhead and profit increment paid to subsidiaries or affiliates of Landlord for management or other services on or to the Building or for supplies or other materials, to the extent that the costs of such services, supplies or materials exceed the reasonable costs that would have been paid had the services, supplies or materials been provided by unaffiliated parties on a reasonable basis;

 

(I)                                   Interest on debt or amortization payments on any mortgage or deeds of trust or any other borrowings and any ground rent;

 

(J)                                   Ground rents or rentals payable by Landlord pursuant to any over-lease;

 

(K)                               Any compensation paid to clerks, attendants or other persons in commercial concessions operated by Landlord;

 

6

 

(L)                                All items and services for which Tenant reimburses Landlord or which Landlord provides selectively to one or more tenants or occupants of the building (other than Tenant) without reimbursement;

 

(M)                            Costs incurred in managing or operating any “pay for” parking facilities within the Project;

 

(N)                               Any fines or fees for Landlord’s failure to comply with governmental, quasi-governmental, or regulatory agencies’ rules and regulations; and

 

(O)                               Legal, accounting and other expenses related to Landlord’s financing, re-financing, mortgaging or selling the Building or the Project.

 

Upon written notice to Landlord no more than forty-five (45) days from receipt of Landlord’s statement of actual expenses Tenant shall have the right to audit at its sole cost and expense and during normal business hours Landlord s records with respect to all actual expenses.  Should this audit reveal a discrepancy greater than five (5%) percent of the actual expense in Tenant’s favor, Landlord shall reimburse Tenant for its out-of-pocket expenses of conducting the audit in addition to making any adjustment required in the additional rent paid during the prior year.

 

(b)                                 Taxes.  Taxes shall be defined as all taxes, assessments and other governmental charges (“Taxes”), including special assessments for public improvements which are levied or assessed against the Project during the Term or, if levied or assessed prior to the Term, which properly are allocable to the Term, and real estate tax appeal expenditures incurred by Landlord to the extent of any reduction resulting thereby.

 

Nothing herein contained shalt be construed to include as Taxes: (A) any inheritance, estate, succession, transfer, gift, franchise, corporation, net income or profit tax or capital levy that is or may be imposed upon Landlord or (B) any Taxes resulting from a transfer of the Building or the Project; provided, however, that if at any time during the Term the method of taxation prevailing at the commencement of the Term shall be altered so that in lieu of or as a substitute for the whole or any part of the taxes now levied, assessed or imposed on real estate as such there shall be levied, assessed or imposed (i) a tax on the rents received from such real estate, or (ii) a license fee measured by the rents receivable by Landlord from the Premises or any portion thereof, or (iii) a tax or license fee imposed upon Premises or any portion thereof, then the same shall be included in the computation of Taxes hereunder.

 

(c)                                  Commencing January 1, 1999, Tenant shall pay, in monthly installments in advance, on account of Tenant’s Allocated Share of Recognized Expenses and Taxes, the estimated amount of the increase of such Recognized Expenses and Taxes for such year in excess of Expense Stop as determined by Landlord in its reasonable discretion and as set forth in a notice, such notice to include the basis for such calculation, to be provided to Tenant prior to such date.  Prior to the end of that year and thereafter for each successive calendar year (each, a “Lease Year”), or part thereof, Landlord shall send to Tenant a statement of projected increases in Recognized Expenses and Taxes in excess of Expense Stop and shall indicate what Tenant’s projected share of Recognized Expenses and Taxes shall be.  Said amount shall be paid in equal monthly installments in advance by Tenant as Additional Rent commencing January 1 of the applicable Lease Year.

 

(d)                                 If during the course of any Lease Year, Landlord shall have reason to believe that the Recognized Expenses and Taxes shall be different than that upon which the aforesaid

 

7

 

projections were originally based, then Landlord shall be entitled to adjust the amount by reallocating the remaining payments for such year, for the months of the Lease Year which remain for the revised projections, and to advise Tenant of an adjustment in future monthly amounts to the end result that the Recognized Expenses and Taxes shall be collected on a reasonably current basis each Lease Year.

 

(e)                                  Within four (4) months following the end of each Lease Year or as soon thereafter as administratively available, Landlord shall send to Tenant a statement of actual expenses incurred for Recognized Expenses and Taxes for the prior Lease Year showing the Allocated Share due from Tenant.  Landlord shall use its best efforts to provide Tenant with the aforesaid statements on or before February 28 of each lease year; provided, however, if Landlord is unable to provide such statements by February 28, Landlord shall not have been deemed to waive its right to collect any such amounts as Additional Rent.  If Landlord is unable to provide final statements on or before February 28 of each Lease year, Landlord shall provide Tenant with its unaudited internal estimates of such costs by February 28, with the caveat that the final statements may deviate from the estimate provided.  In the event the amount prepaid by Tenant exceeds the amount that was actually due then Landlord shall issue a credit to Tenant in an amount equal to the over charge, which credit Tenant may apply to future payments on account of Recognized Expenses and Taxes until Tenant has been fully credited with the over charge.  If the credit due to Tenant is more than the aggregate total of future rental payments, Landlord shall pay to Tenant the difference between the credit in such aggregate total.  In the event Landlord has undercharged Tenant then Landlord shall send Tenant an invoice with the additional amount due, which amount shall be paid in full by Tenant within twenty (20) days of receipt.

 

(f)                                   Each of the Recognized Expense and Tax amounts, whether requiring lump sum payment or constituting projected monthly amounts added to the Fixed Rent, shall for all purposes be treated and considered as Additional Rent and the failure of Tenant to pay the same as and when due in advance and without demand shall have the same effect as failure to pay any installment of the Fixed Rent and shall afford Landlord all the remedies in the Lease therefor as well as at law or in equity.

 

(g)                                  If Landlord is successful in reducing the Tax rate from that of the Base Year, Landlord may change the applicable Base Year and the Taxes which are subject to recovery to such new Base Year (e.g. if taxes in 2000 were reduced to $2.50/square foot from $3.25 in 1998).

 

(h)                                 If this Lease terminates other than at the end of a calendar year, Landlord’s annual estimate of Recognized Expenses and Taxes shall be accepted by the parties as the actual Recognized Expenses and Taxes for the year the Lease ends unless Landlord provides Tenant with actual statements in accordance with subsection 6(e) above.

 

7.                                      ELECTRICITY CHARGES

 

(a)                                 Tenant shall pay to Landlord, as Additional Rent, within fifteen (15) business days of receipt of Landlord’s billing statement therefor, all charges billed by Landlord, or its agent, for electricity, such charges to be based upon Tenant’s consumption, as measured by Landlord’s submeter for the Premises.  Landlord shall not be liable for any interruption or delay in electric or any other utility service for any reason.

 

8

 

8.             SIGNS; USE OF PREMISES AND COMMON AREAS

 

(a)           As part of Tenant fit-out cost, Landlord shall provide Tenant with standard identification signage on all Building directories and at the entrance to the Premises.  No other signs shall be placed, erected or maintained by Tenant at any place upon the Premises, Building or Project.

 

(b)           Tenant may use and occupy the Premises only for the express and limited purposes stated in Article 1(j) above; and the Premises shall not be used or occupied, in whole or in part, for any other purpose without the prior written consent of Landlord: provided that Tenant’s right to so use and occupy the Premises shall remain expressly subject to the provisions of “Governmental Regulations”, Article 28 herein.  No machinery or equipment shall be permitted that shall cause vibration, noise or disturbance beyond the Premises.  Tenant, without Landlord’s consent or direction, shall not vacate the Premises at any time during the Term, nor permit the Premises to remain unoccupied.

 

(c)           Tenant shall not commit or suffer any waste upon the Premises, Building or Project or any nuisance, or any other act or thing which may disturb the quiet enjoyment of any other tenant in the Building or Project.

 

(d)           Tenant shall have the right, non-exclusive and in common with others, to use the exterior paved driveways and walkways of the Building for vehicular arid pedestrian access to the Building.  Tenant shall also have the right, in common with other tenants of the Building and Landlord, to use the designated parking areas of the Project and for the parking of automobiles of Tenant and its employees and business visitors, incident to Tenant’s permitted use of the Premises; provided that Landlord shall have the right to restrict or limit Tenant’s utilization of the parking areas in the event the same become overburdened and in such case to equitably allocate on proportionate basis or assign parking spaces among Tenant and the other tenants of the Building.  Landlord shall have the right to establish reasonable regulations, applicable to all tenants, governing the use of or access to any interior or exterior common areas; and such regulations, when communicated by written notification from Landlord to Tenant, shall be deemed incorporated by reference hereinafter and part of this Lease.

 

9.             ENVIRDNMENTAL MATTERS

 

(a)           Hazardous Substances.

 

(i)            Tenant shall not, except as provided in subparagraph (ii) below, bring or otherwise cause to be brought or permit any of its agents, employees, contractors or invitees to bring in, on or about any part of the Premises, Building or Project, any hazardous substance or hazardous waste in violation of law, as such terms are or may be defined in (x) the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. 9601 et. seq., as the same may from time to time be amended, and the regulations promulgated pursuant thereto (“CERCLA”); the United States Department of Transportation Hazardous Materials Table (49 CFR 172.102); by the Environmental Protection Agency as hazardous substances (40 CFR Part 302); the Clean Air Act; and the Clean Water Act, and all amendments, modifications or supplements thereto; and/or (y) the Industrial Site Recovery Act, formerly known as the Environmental Cleanup Responsibility Act, N.J.S.A. 13:1K-6 et seq., as the same may from time to time be amended, and the regulations promulgated pursuant thereto (“ISRA”); and/or (z) any other rule, regulation, ordinance, statute or requirements of any governmental or administrative agency regarding the environment.

 

9

 

(ii)           Tenant may bring to and use at the Premises, hazardous substances, supplies or other items, incidental to its normal business operations under the SIC Code referenced in paragraph 1(n) above in de minimis quantities in accordance with all laws.  Tenant shall store and handle such substances in strict accordance with all environmental laws.

 

(b)           Industrial Site Recovery Act.

 

(i)            Tenant represents and warrants that Tenant’s SIC (Standard Industrial Classification) number as designated in the Standard Classification Manual prepared by the Office of Management and Budget, and as set forth in Article 1(m) hereof, is correct.  Tenant represents that the specific activities intended to be carried on in the Premises are in accordance with Article 1(k) and Tenant covenants and agrees that it will not do or suffer anything which will cause its SIC number (or that of any assignee or subtenant) to fall within any of the following “major group” classifications of SIC numbers during the Term (and any exercised renewal term) hereof: 22 through 39 inclusive, 46 through 49 inclusive, 51 and 76 (together the “Covered Numbers”).  Tenant further covenants and agrees to notify Landlord at least thirty (30) days prior to any change of facts which would result in the change of Tenant’s SIC number from its present number to any of the Covered Numbers.  Upon such notice, Landlord shall have the right, at its option, to terminate this Lease within thirty (30) days of receipt of such notice by notifying Tenant in writing.

 

(ii)           Tenant shall not engage in operations at the Premises which involve the generation, manufacture, refining, transportation, treatment, storage, handling or disposal of “hazardous substances” or “hazardous waste” as such terms are defined under ISRA.  Tenant further covenants that it will not cause or permit to exist any “discharge” (as such term is defined under ISRA) on or about the Premises.

 

(iii)          (1)           If Tenant’s operations at the Premises now or hereafter constitute an “Industrial Establishment” subject to the requirements of ISRA, then prior to: (1) closing operations or transferring ownership or operations of Tenant at the Premises (as defined under ISRA), (2) the expiration or sooner termination of this Lease, or (3) any assignment of this Lease or any subletting of any portion of the Premises; Tenant shall, at its expense, comply with ail requirements of 1SRA pertaining thereto.  Without limitation of the foregoing, Tenant’s obligations shall include (i) the proper filing of an initial notice under N.J.S.A. 13:1K-9(a) to the NJDEP and (ii) the performance of all remediation and other requirements of ISRA, including without limitation all requirements of N.J.S.A. 13:1K-9(b) through and including (I).

 

(2)           In addition, upon written request of Landlord, Tenant shall cooperate with Landlord in obtaining ISRA approval of any transfer of the Building of which the Premises form a part.  Specifically in that regard, Tenant agrees that it shall (1) execute and deliver all affidavits, reports, responses to questions, applications or other filings required by Landlord and related to Tenants activities at the Premises, (2) allow inspections and testing of the Premises, and (3) as respects the Premises occupied by Tenant, perform any requirement reasonably requested by Landlord necessary for the receipt of ISRA approval, provided the foregoing shall be at no out-of-pocket cost or expense to Tenant except for clean-up and remediation costs arising from Tenant’s activities at the Premises.

 

(iv)          The parties acknowledge and agree that, except as provided in Paragraph (iii)(B) above, pursuant to the provisions of Section 20(c) of ISRA, Tenant shall be, and is hereby, designated the party responsible (the “Party Responsible”) to comply with the requirements of ISRA (P.L. 1983, c.330) with respect to the Premises, and that as a result, the

 

10

 

NJDEP may compel Tenant to so comply.  In addition, any failure of Tenant to provide any information and submission as required under Section 20(a) and Section 20(c) of ISRA shall constitute a default under this Lease.  Any assignee or subtenant of Tenant shall be deemed to have, and by entering into such assignment or sublease, and/or by entering into possession of the Premises, does hereby, acknowledge that they shall be the Party Responsible, jointly and severally with Tenant, under the provisions of this Lease.

 

(v)           In the event that Tenant is not obligated to comply with Article 9(b)(iii) for any reason, including without limitation inapplicability of ISRA to Tenant, then prior to the expiration or sooner termination of this Lease or any subletting of any portion of the Premises, Tenant shall, at Tenant’s expense, and at Landlord’s option:

 

(1)           Obtain from the NJDEP a “non-applicability letter” confirming that the proposed termination, assignment or subletting shall not be subject to the requirements of ISRA.  Any representation or certification made by Tenant in connection with the non-applicability letter request shall constitute a representation and warranty by Tenant in favor of Landlord and any misrepresentation or breach of warranty contained in Tenant’s request shall constitute a default under this Lease; provided, however, if a non-applicability letter is not issued due to factors relating solely to the Building or parties other than Tenant, then Tenant shall be deemed to have complied with this provision.

 

(2)           If reasonably indicated by a reputable environmental consultant engaged by Landlord, at Landlord’s expense, Tenant shall remove “hazardous waste” or “hazardous waste” attributable to Tenant’s occupancy at the Premises in a manner which complies with NJDEP requirements under ISRA, at Tenant’s expense, if ISRA applied to Tenant and/or the Premises.

 

(vi)          In the event Tenant is obligated, under this Article or otherwise, to perform and/or cooperate in performing any ISRA obligations and/or obtain and/or cooperate in obtaining any ISRA approval, by way of a non-applicability letter, “negative declaration”, the performance of an approved remedial action work plan, the obtaining of a no further action letter, the performance under a remediation agreement and/or otherwise (collectively the “ISRA Obligations”) and, prior to fully performing such ISRA Obligations, there occurs the scheduled expiration of the Term of this Lease or any other termination of this Lease (collectively, a “Lease Termination”), and in the event (i) Landlord is obligated to deliver possession to a new tenant and (ii) Landlord is prevented from being able to deliver lawful possession because of such failure of Tenant to fully perform same, then Tenant shall, following such Lease Termination, pay, at the time and in the manner Fixed Rent payments were due during the term, an amount equal to: (i) Fixed Rent at twice the rate in effect immediately prior to such Lease Termination; and (ii) Additional Rent as provided under the Lease until such time as all such ISRA Obligations have been fully completed.

 

(c)           Additional Terms.

 

(i)            In the event of Tenant’s failure to comply in full with this Article, Landlord may, after written notice to Tenant and Tenant’s failure to cure within thirty (30) days of its receipt of such notice, at Landlord’s option, perform any and all of Tenant’s obligations as aforesaid and all costs and expenses incurred by Landlord in the exercise of this right shall be deemed to be Additional Rent payable on demand and with interest at the Default Rate until payment at the rate provided in this Lease.

 

11

 

(ii)           The parties acknowledge and agree that Tenant shall not be held responsible for any environmental issue at the Premises unless such issue was caused by an action or omission of Tenant or its agents, employees, consultants or invitees.

 

(iii)          This Article 9 shall survive the expiration or sooner termination of this Lease.

 

10.          TENANT’S ALTERATIONS

 

Tenant will not cut or drill into or secure any fixture, apparatus or equipment or make alterations, improvements or physical additions (collectively, “Alterations”) of any kind to any part of the Premise without first obtaining the written consent of Landlord, such consent not to be unreasonably withheld.  Alterations shall, at Landlord’s option, be done by Landlord at Tenant’s sole cost and expense.  Landlord’s consent shall not be required for the installation of any office equipment or fixtures including internal partitions which do not require disturbance of any structural elements or systems (other than attachment thereto) within the Building.  If Landlord approves Tenant’s Alterations and agrees to permit Tenant’s contractors to do the work, Tenant, prior to the commencement of labor or supply of any materials, must furnish to Landlord (i) a duplicate or original policy or certificates of insurance evidencing (a) general public liability insurance for personal injury and property damage in the minimum amount of $1,000,000.00 combined single limit, (b) statutory workman’s compensation insurance, and (c) employer’s liability insurance from each contractor to be employed (all such policies shall be non-cancelable without thirty (30) days prior written notice to Landlord and shall be in amounts and with companies satisfactory to Landlord); (ii) construction documents prepared and sealed by a registered New Jersey architect if such alteration is in excess of $15,000; (iii) all applicable building permits required by law; and (iv) an executed, effective Waiver of Mechanics Liens from such contractors and all sub-contractors.  Any consent by Landlord permitting Tenant to do any or cause any work to be done in or about the Premises shall be and hereby is conditioned upon Tenant’s work being performed by workmen and mechanics working in harmony and not interfering with labor employed by Landlord, Landlord’s mechanics or their contractors or by any other tenant or their contractors.  If at any time any of the workmen or mechanics performing any of Tenant’s work shall be unable to work in harmony or shall interfere with any labor employed by Landlord, other tenants or their respective mechanics and contractors, then the permission granted by Landlord to Tenant permitting Tenant to do or cause any work to be done in or about the Premises, may be withdrawn by Landlord upon forty-eight (48) hours written notice to Tenant.

 

All Alterations (whether temporary or permanent in character) made in or upon the Premises (other than the Landlord Work which will remain on the Premises), either by Landlord or Tenant, shall be Landlord’s property upon installation and shall remain on the Premises without compensation to Tenant.  Should Tenant fail to do so, Landlord may do so, collecting at Landlord’s option the cost and expense thereof from Tenant as Additional Rent.  All furniture, movable trade fixtures and equipment installed by Tenant may be removed by Tenant at the termination of this Lease, or if not so removed shall, at the option of Landlord, become the property of Landlord.  All such installations, removals and restoration shall be accomplished in a good and workmanlike manner so as not to damage the Premises or Building and in such manner so as not to disturb other tenants in the Building.  If Tenant fails to remove any items required to be removed pursuant to this Article, Landlord may do so and the costs and expenses thereof shall be deemed Additional Rent hereunder and shall be reimbursed by Tenant to Landlord within fifteen (15) business days of Tenant’s receipt of an invoice therefore from Landlord.

 

12

 

11.          CONSTRUCTION LIENS

 

(a)           Tenant will not voluntarily suffer or permit any contractor’s, subcontractors or supplier’s lien (a “Construction Lien”) to be filed against the Premises or any part thereof by reason of work, labor services or materials supplied or claimed to have been supplied to Tenant; and if any Construction Lien shall at any time be filed against the Premises or any part thereof, Tenant, within thirty (30) days after notice of the filing thereof, shall cause it to be discharged of record by payment, deposit, bond, order of a court or competent jurisdiction or otherwise.  If Tenant shall fail to cause such Construction Lien to be discharged within the period aforesaid, then in addition to any other right or remedy, Landlord may, but shall not be obligated to, discharge it either by paying the amount claimed to be due or by procuring the discharge of such lien by deposit or by bonding proceedings.  Any amount so paid by Landlord, plus all of Landlord’s costs and expenses associated therewith (including, without limitation, reasonable legal fees), shall constitute Additional Rent payable by Tenant under this Lease and shall be paid by Tenant to Landlord on demand with interest from the date of advance by Landlord at the Default Rate.

 

Nothing in this Lease, or in any consent to the making of alterations or improvements contained shall be deemed or construed in any way as constituting authorization by Landlord for the making of any alterations or additions by Tenant within the meaning of Section 3 of the Construction Lien Law (P.L. 1993, c. 318) or any amendment thereof, or constituting a request by Landlord, express or implied, to any contractor, subcontractor or supplier for the performance of any labor or the furnishing of any materials for the use or benefit or Landlord.

 

12.          ASSIGNMENT AND SUBLETTING

 

(a)           Subject to the remaining subsections of Section 12, except as expressly permitted pursuant to this section, Tenant shall not, without the prior written consent of Landlord, such consent not to be unreasonably withheld, assign or hypothecate this Lease or any interest herein or sublet the Premises or any part thereof.  Any of the foregoing acts without such consent shall be void and shall, at the option of Landlord, terminate this Lease, This Lease shall not, nor shall any interest herein, be assignable as to the interest of Tenant by operation of law or by merger, consolidation or asset sale, without the written consent of Landlord.

 

(b)           if at any time or from time to time during the term of this Lease Tenant desires to assign all or any part of the Premises, Tenant shall give notice to Landlord of such intent.  Landlord shall have the option, exercisable by notice given to Tenant within forty-five (45) days after receipt of Tenant’s notice, of reacquiring the portion of the Premises proposed to be assigned and terminating the Lease with respect thereto.

 

(c)           Any sums or other economic consideration received by Tenant as a result of any subletting, assignment or license (except rental or other payments received which are attributable to the amortization of the cost of leasehold improvements made to the sublet or assigned portion of the premises by Tenant for subtenant or assignee, and other reasonable expenses incident to the subletting or assignment, including standard leasing commissions) whether denominated rentals under the sublease or otherwise, which exceed, in the aggregate, the total sums which Tenant is obligated to pay Landlord under this Lease (prorated to reflect obligations allocable to that portion of the premises subject to such sublease or assignment) shall be divided evenly between Landlord and Tenant, with Landlord’s portion being payable to Landlord as Additional Rental under this

 

13

 

Lease paid to Landlord in their entirety without affecting or reducing any other obligation of Tenant hereunder.

 

(d)           Regardless of Landlord’s consent, no subletting or assignment shall release Tenant of Tenant’s obligation or alter the primary liability of Tenant to pay the Rent and to perform all other obligations to be performed by Tenant hereunder.  The acceptance of rental by Landlord from any other person shall not be deemed to be a waiver by Landlord of any provision hereof.  Consent to one assignment or subletting shall not be deemed consent to any subsequent assignment or subletting.  In the event of default by any assignee of Tenant or any successor of Tenant in the performance of any of the terms hereof, Landlord may proceed directly against Tenant without the necessity of exhausting remedies against such assignee or successor.

 

(e)           In the event that (i) the Premises or any part thereof are sublet and Tenant is in default under this Lease, or (ii) this Lease is assigned by Tenant, then, Landlord may collect Rent from the assignee or subtenant and apply the net amount collected to the rent herein reserved; but no such collection shall be deemed a waiver of the provisions of this Article 12 with respect to assignment and subletting, or the acceptance of such assignee or subtenant as Tenant hereunder, or a release of Tenant from further performance of the covenants herein contained.

 

(f)            In connection with each proposed assignment or subletting of the Premises by Tenant, Tenant shall pay to Landlord an administrative fee of $250 per request in order to defer Landlord’s administrative expenses arising from such request, plus Landlord’s reasonable attorneys’ fees.

 

(g)           Notwithstanding, the occupancy of the Premises or any portion thereof by Amtralease or any other company or entity affiliated with Amtralease or Tenant shall not be considered an assignment of sublease.

 

13.          LANDLORD’S RIGHT OF ENTRY

 

Landlord and persons authorized by Landlord may enter the Premises at all reasonable times upon twenty-four (24) hours notice (except in the case of an emergency in which case no prior notice is necessary) for the purpose of inspections, repairs, alterations to adjoining space, appraisals, or other reasonable purposes; including enforcement of landlord’s rights under this Lease.  Landlord shall not be liable for inconvenience to or disturbance of Tenant by reason of any such entry; provided, however, that in the case of repairs or work, such shall be done, so far as practicable, so as to not unreasonably interfere with Tenant’s use of the Premises.  Landlord also shall have the right to enter the Premises at all reasonable times after giving prior notice to Tenant, to exhibit the Premises to any prospective purchaser, tenant and/or mortgagee.

 

14.          REPAIRS AND MAINTENANCE

 

(a)           Except as specifically otherwise provided in Paragraphs (b) and (c) of this Article, Tenant, at its sole cost and expense and throughout the Term of this Lease, shall keep and maintain the Premises in good order and condition, free of accumulation of dirt and rubbish, and shall promptly make all non-structural repairs necessary to keep and maintain such good order and condition.  Tenant shall have the option of replacing lights, ballasts, tubes, ceiling tiles, outlets and similar equipment itself or it shall have the ability to advise Landlord of Tenant’s desire to have Landlord make such repairs.  If requested by Tenant, Landlord shall make such repairs to the Premises within a reasonable time of notice to Landlord and shall charge Tenant for such services

 

14

 

at Landlord’s standard rate (such rate to be competitive with the market rate for such services).  Tenant shall not use or permit the use of any portion of the Premises for outdoor storage.  When used in this Article 14, the term “repairs” shall include replacements and renewals when necessary.  All repairs made by Tenant shall utilize materials and equipment which are at least equal in quality and usefulness to those originally used in constructing the Building and the Premises.  Landlord shall maintain all HVAC systems serving the Building and the Premises.  Tenant’s allocated share of Landlord’s cost for HVAC service, maintenance and repairs shall be included as a portion of Recognized Expenses.

 

(b)           Landlord, throughout the Term of this Lease and at Landlord’s sole cost and expenses, shall make all necessary repairs to the footings and foundations and the structural steel columns and girders forming a part of the Premises and the HVAC, plumbing and electric systems serving the Premises.

 

(c)           Landlord, throughout the Term of this Lease, shall make all necessary repairs to the Building outside of the Premises and the common areas, including the roof, walls, exterior portions of the Premises and the Building, utility lines, equipment and other utility facilities in the Building, which serve more than one tenant of the Building, and to any driveways, sidewalks, curbs, loading, parking and landscaped areas, and other exterior improvements for the Building; provided, however, that Landlord shall have no responsibility to make any repairs unless and until Landlord receives written notice of the need for such repair.  Tenant shall pay its Allocated Share of the cost of all repairs to be performed by Landlord pursuant to this Paragraph 14(c) as Additional Rent as provided, in Article 6 hereof.

 

(d)           Landlord shall keep and maintain all common areas appurtenant to the Building and any sidewalks, parking areas, curbs and access ways adjoining the Property in a clean and orderly condition, free of accumulation of dirt, rubbish, snow and ice, and shall keep and maintain all landscaped areas in a neat and orderly condition.  Tenant shall pay its Allocated Share of the cost of all work to be performed by Landlord pursuant to this Paragraph (d) as Additional Rent as provided in Article 6 hereof.

 

(e)           Notwithstanding anything herein to the contrary, repairs to the Premises, Building or Project and its appurtenant common areas made necessary by a negligent or willful act or omission of Tenant or any employee, agent, contractor, or invitee of Tenant shall be made at the sole cost and expense of Tenant.

 

(f)            Landlord shall provide Tenant with janitorial services for the Premises Monday through Friday of each week in accordance with the guidelines set forth in Exhibit “D” attached hereto and the Tenant shall pay its Allocated Share of the cost thereof as Additional Rent as provided in Article 6 hereof.

 

(g)           Landlord shall provide Tenant with a one year warranty on any defects in workmanship and materials from defects.  The warranty shall become effective the Lease Commencement date in Exhibit B and expire one year thereafter.

 

15.          INSURANCE; SUBROGATION RIGHTS

 

(a)           Tenant shall obtain and keep in force at all times during the term hereof, at its own expense, comprehensive general liability insurance including contractual liability and personal injury liability and all similar coverage, with combined single limits of $3,000,000.00 on account of bodily

 

15

 

injury to or death of one or more persons as the result of any one accident or disaster and on account of damage to property, or in such other amounts as Landlord may from time to time require.  The policy limits set forth herein shall be subject to periodic review, and Landlord reserves the right to require that Tenant increase the liability coverage limits if, in the reasonable opinion of Landlord, the coverage becomes inadequate and is less than commonly maintained by tenants of similar buildings in the area making similar uses.

 

(b)           Tenant shall, at its sole cost and expense, maintain in full force and effect on all Tenant’s trade fixtures, equipment and personal property on the Premises, a policy of all risk property insurance covering the full replacement value of such property.  Tenant shall also provide and keep in force, business interruption insurance in an amount equivalent to twelve (12) months’ Rent and Additional Rent which shall not contain a deductible greater than seventy-two (72) hours.

 

(c)           All insurance required hereunder shall not be subject to cancellation without at least thirty (30) days prior notice to all insureds, and shall name Landlord, Brandywine Realty Trust, Landlord’s Agent and Tenant as insureds, as their interests may appear, and, if requested by Landlord, shall also name as an additional insured any mortgagee or holder of any mortgage which may be or become a lien upon any part of the Premises.  Prior to the commencement of the Term.  Tenant shall provide Landlord with certificates and copies of the policy or policies of insurance above referred to, with evidence that the coverages required have been obtained and that premiums have been paid in full for the policy periods.  Tenant shall also furnish to Landlord throughout the term hereof replacement certificates or copies of renewal polices, together with evidence of like paid premiums at least thirty (30) days prior to the expiration dates of the then current policy or policies.  All the insurance required under this Lease shall be issued by insurance companies authorized to do business in the State of New Jersey with a financial rating of at least an A-X as rated in the most recent edition of Best’s Insurance Reports and in business for the past five years.  The limit of any such insurance shall not limit the liability of Tenant hereunder.  If Tenant fails to procure and maintain such insurance, Landlord may, but shall not be required to, procure and maintain the same, at Tenant’s expense to be reimbursed by Tenant as Additional Rent within ten (10) days of written demand.  Any deductible under such insurance policy or self-insured retention under such insurance policy in excess of Five Thousand ($5,000) must be approved by Landlord in writing prior to issuance of such policy.  Tenant shall not self-insure without Landlord’s prior written consent.  The policy limits set forth herein shall be subject to periodic review, and Landlord reserves the right to require that Tenant increase the liability coverage limits if, in the reasonable opinion of Landlord, the coverage becomes inadequate and is less than commonly maintained by tenants of similar buildings in the area making similar uses.

 

(d)           Landlord shall obtain and maintain the following insurance during the Term of this Lease: (i) replacement cost insurance including all risk perils on the Building and on the Project, (ii) builder’s risk insurance for the Landlord Work to be constructed by Landlord in the Project, and (iii) comprehensive liability insurance {including bodily injury and property damage) covering Landlord’s operations at the Project in amounts reasonably required by the Landlord’s lender or Landlord.

 

(e)           Each party hereto, and anyone claiming through or under them by way of subrogation, waives and releases any cause of action it might have against the other party and Brandywine Realty Trust and their respective employees, officers, partners, trustees and agents, on account of any loss or damage that is insured against under any insurance policy required to be obtained hereunder (to the extent that such loss or damage is recoverable under such insurance policy) that covers the Project, Building or Premises, Landlord’s or Tenant’s fixtures, personal

 

16

 

property, leasehold improvements or business and which names Landlord and Brandywine Realty Trust or Tenant, as the case may be, as a party insured.  Each party hereto agrees that it will cause its insurance carrier to endorse all applicable policies waiving the carrier’s right of recovery under subrogation or otherwise against the other party.  During any period while such waiver of right of recovery is in effect, each party shall look solely to the proceeds of such policies for compensation for loss, to the extent such proceeds are paid under such policies.

 

16.          INDEMNIFICATION

 

Tenant shall defend, indemnify and hold harmless Landlord and Brandywine Realty Trust and their respective employees and agents from and against any arid all third-party claims, actions, damages, liability and expense (including all expenses and liabilities incurred in defense of any such claim or any action or proceeding brought thereon) arising from (i) Tenant’s improper use of the Premises, (ii) the improper conduct of Tenant’s business, (iii) any activity, work or things done, permitted or suffered by Tenant in or about the Premises or elsewhere contrary to the requirements of the Lease, (iv) any breach or default in the performance of any obligation of Tenant’s part to be performed under the terms of this Lease, and (v) any negligence or willful act of Tenant or any of Tenant’s agents, contractors or employees and/or negligence or other tortuous acts of third parties, and in case Landlord or Brandywine Realty Trust shall be made a party to any litigation commenced by or against Tenant, its agents, subtenants, licensees, concessionaires, contractors, customers or employees, then Tenant shall defend, indemnify and hold harmless Landlord and Brandywine Realty Trust and shall pay all costs, expenses and reasonable attorney’s fees incurred or paid by Landlord and Brandywine Realty Trust in connection with such litigation, after notice to Tenant and Tenant’s refusal to defend such litigation, and upon notice from Landlord shall defend the same at Tenant’s expense by counsel satisfactory to Landlord.  Tenant shall further indemnify and hold harmless Landlord and Brandywine Realty Trust from and against any and all third-party claims, actions, damages, liability and expense which may be imposed upon or incurred by or asserted against Landlord by reason of (a) loss of life, personal injury and/or damage to property occurring in or about, or arising out of, the Premises, adjacent sidewalks and loading platforms or areas and common areas appurtenant to the Building occasioned by reason of any act or omission of Tenant, its agents, subtenants, licensees, concessionaires, contractors, customers, employees and/or third parties and (b) any failure on the part of Tenant to keep, observe and perform any of the terms, covenants, agreements, conditions, limitations or Rules and Regulations contained in this Lease on Tenant’s part to be kept, observed and performed.

 

17.          QUIET ENJOYMENT

 

Provided Tenant has performed all of the terms and conditions of this Lease, including the payment of Fixed Rent and Additional Rent, to be performed by Tenant, Tenant shall peaceably and quietly hold and enjoy the Premises for the Term, without hindrance from Landlord, or anyone claiming by through or under Landlord under and subject to the terms and conditions of this lease and of any mortgages now or hereafter affecting all of or any portion of the Premises.

 

18.          FIRE DAMAGE

 

(a)           Except as provided below, in case of damage to the Premises by fire or other Insured casualty, Landlord shall repair the damage.  Such repair work shall be commenced promptly following notice of the damage and completed with due diligence, taking into account the time required for Landlord to effect a settlement with and procure insurance proceeds from the

 

17

 

insurer, except for delays due to governmental regulation, scarcity of or inability to obtain labor or materials, intervening acts of God or other causes beyond Landlord’s reasonable control.

 

(b)                                 Notwithstanding the foregoing, if (i) the damage is of a nature or extent that, in Landlord’s reasonable judgment (to be communicated to Tenant within sixty (60) days from the date of the casualty), the repair and restoration work would require more than One hundred and twenty (120) consecutive days to complete after the casualty and, assuming normal work crews not engaged in overtime, or (ii) if more than thirty (30%) percent of the total area of the Building is extensively damaged, Landlord shall have the right to terminate this Lease and all the unaccrued obligations of the parties hereto, by sending written notice of such termination to the other within ten (10) days of Tenant’s receipt of the notice from Landlord described above.  Such notice is to specify a termination date no less than fifteen (15) days after its transmission; provided, however, that in addition to the foregoing, in the event Tenant shall have also vacated the Premises because the nature or extent of the damage rendered the Premises untenantable, Tenant may by notice in writing to Landlord within five (5) days of receipt of Landlord’s written notice elect to make the termination of the Lease retroactive to the date of such vacation of the Premises by Tenant.  Notwithstanding the foregoing, in the event Tenant is responsible for the aforesaid casualty, Tenant shall not have the right to terminate this Lease if Landlord is willing to rebuild and restore the Premises.

 

(c)                                  If the insurance proceeds received by Landlord as dictated by the terms and conditions of any financing then existing on the Building, (excluding any rent insurance proceeds) would not be sufficient to pay for repairing the damage or are required to be applied on account of any mortgage which encumbers any part of the Premises or Building, or if the nature of loss is not covered by Landlord’s fire insurance coverage, Landlord may elect either to (i) repair the damage as above provided notwithstanding such fact or (ii) terminate this Lease by giving Tenant notice of Landlord’s election within thirty (30) days after Landlord’s knowledge of the damage and of the unavailability or insufficiency of insurance proceeds.  If the election is to terminate, Landlord shall give Tenant at least fifteen (15) days prior notice specifying the termination date.

 

(d)                                 In the event Landlord has not completed restoration of the Premises one hundred and twenty (120) days from the date of casualty (subject to delay due to weather conditions, shortages of labor or materials or other reasons beyond Landlord’s control which delay in any event will not exceed an additional thirty (30) business days), Tenant may terminate this Lease by written notice to Landlord within thirty (30) business days following the expiration of such 210 day period (as extended for reasons beyond Landlord’s control as provided above) unless, within thirty (30) business days following receipt of such notice, Landlord has completed such restoration and delivered the Premises to Tenant for occupancy.

 

In the event of damage or destruction to the Premises or any part thereof, Tenant’s obligation to pay Fixed Rent and Additional Rent shall be equitably adjusted or abated, provided the deduction or abatement of Rent shall not exceed rent insurance proceeds received by Landlord attributable to the Premises for the period during which it was damaged.  Notwithstanding the foregoing, there shall be no abatement in Rent or Additional Rent if Tenant caused or is responsible for the casualty.

 

19.                               SUBORDINATION; RIGHTS OF MORTGAGEE

 

(a)                                 This Lease shall be subject and subordinate at all times to the lien of any mortgages now or hereafter placed upon the Premises, Building and/or Project and land of which they are a

 

18

 

part without the necessity of any further instrument or act on the part of Tenant to effectuate such subordination.  Tenant further agrees to execute and deliver upon demand such further instrument or instruments evidencing such subordination of this Lease to the lien of any such mortgage and such further instrument or instruments of attornment as shall be desired by any mortgagee or proposed mortgagee or by any other person.  Notwithstanding the foregoing, any mortgagee may at any time subordinate its mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such mortgage without regard to their respective dates of execution and delivery and in that event such mortgagee shall have the same rights with respect to this Lease as though it had been executed prior to the execution and delivery of the mortgage.

 

(b)                                 In the event Landlord shall be or is alleged to be in default of any of its obligations owing to Tenant under this Lease, Tenant agrees to give to the holder of any mortgage (collectively the “Mortgagee) now or hereafter placed upon the Premises, Building and/or Project, notice by registered mail of any such default which Tenant shall have served upon Landlord, provided that prior thereto Tenant has been notified in writing (by way of Notice of Assignment of Rents and/or Leases or otherwise in writing to Tenant) of the name and addresses of any such Mortgagee.  Tenant shall not be entitled to exercise any right or remedy as there may be because of any default by Landlord without having given such notice to the Mortgagee; and Tenant further agrees that if Landlord shall fail to cure such default: (i) the Mortgagee shall have any additional time periods (measured from the later of the date on which the default should have been cured by Landlord or the Mortgagee’s receipt of such notice from Tenant), within which to cure such default, provided that if such default be such that the same could not be cured within such period and is diligently pursuing the remedies necessary to effectuate the cure (including but not limited to foreclosure proceedings if necessary to effectuate the cure); and (ii) Tenant shall not exercise any right or remedy as there may be arising because of Landlord’s default, including but not limited to, termination of this Lease as may be expressly provided for herein or available to Tenant as a matter of law, if the Mortgagee either has cured the default within such time periods, or as the case may be, has initiated the cure of same within such period and is diligently pursuing the cure of same as aforesaid.  Landlord shall use its best efforts to obtain a non-disturbance agreement for Tenant.

 

20.                               CONDEMNATION

 

(a)                                 If more than twenty (20%) percent of the floor area of the Premises is taken or condemned for a public or quasi-public use (a sale in lieu of condemnation to be deemed a taking or condemnation for purposes of this Lease), this Lease shall, at either party’s option, terminate as of the date title to the condemned real estate vests in the condemnor, and the Fixed Rent and Additional Rent herein reserved shall be apportioned and paid in full by Tenant to Landlord to that date and all rent prepaid for period beyond that date shall forthwith be repaid by Landlord to Tenant and neither party shall thereafter have any liability hereunder.

 

(b)                                 If less than twenty (20%) percent of the floor area of the Premises is taken or if neither Landlord nor Tenant have elected to terminate this Lease pursuant to the preceding sentence, Landlord shall do such work as may be reasonably necessary to restore the portion of the Premises not taken to tenantable condition for Tenant’s uses, but shall not be required to expend more than the net award Landlord reasonably expects to be available for restoration of the Premises.  If Landlord determines that the damages available for restoration of the Building and/or Project will not be sufficient to pay the cost of restoration, or if the condemnation damage award is required to be applied on account of any mortgage which encumbers any part of the Premises,

 

19

 

Building and/or Project, Landlord may terminate this Lease by giving Tenant thirty (30) days prior notice specifying the termination date.

 

(c)                                  If this Lease is not terminated after any such taking or condemnation, the Fixed Rent and the Additional Rent shall be equitably reduced in proportion to the area of the Premises which has been taken for the balance of the Term.

 

(d)                                 If a part or all of the Premises shall be taken or condemned, all compensation awarded upon such condemnation or taking shall go to Landlord and Tenant shall have no claim thereto other than Tenant’s damages associated with moving, storage and relocation; and Tenant hereby expressly waives, relinquishes and releases to Landlord any claim for damages or other compensation to which Tenant might otherwise be entitled because of any such taking or limitation of the leasehold estate hereby created, and irrevocably assigns and transfers to Landlord any right to compensation of all or a part of the Premises or the leasehold estate.

 

21.                               ESTOPPEL CERTIFICATE

 

Each party agrees at any time and from time to time, within ten (10) days after the other party’s written request, to execute, acknowledge and deliver to the other party a written instrument in recordable form certifying that this Lease is unmodified and in full force and effect (or if there have been modifications, that it is in full force and effect as modified and stating the modifications), and the dates in which Rent, Additional Rent, and other charges have been paid in advance, if any, and stating whether or not to the best knowledge of the party signing such certificate, the requesting party is in default in the performance of any covenant, agreement or condition contained in this Lease and, if so, specifying each such default of which the signer may have knowledge.  It is intended that any such certification and statement delivered pursuant to this Article may be relied upon by any prospective purchaser of the Project or any mortgagee thereof or any assignee of Landlord’s interest in this Lease or of any mortgage upon the fee of the Premises or any part thereof.

 

22.                               DEFAULT

 

If:

 

(i)                                     Tenant fails to pay any installment of Fixed Rent or any amount of Additional Rent when due,

 

(ii)                                  Tenant “vacates” the Premises (other than in the case of a permitted subletting or assignment) or permits the same to be unoccupied coupled with non-payment of rent.

 

(iii)                               Tenant fails to observe or perform any of the Tenant’s other agreements or obligations herein contained within thirty (30) days after written notice specifying the default, or the expiration of such additional time period as is reasonably necessary to cure such default, provided Tenant immediately commences and thereafter proceeds with all due diligence and in good faith to cure such default,

 

(iv)                              Tenant makes any assignment for the benefit of creditors,

 

(v)                                 Tenant commits an act of federal or state bankruptcy or files a petition or commences any proceeding under any bankruptcy or insolvency law,

 

20

 

(vi)                              a petition is filed or any proceeding is commenced against Tenant under any federal or state bankruptcy or insolvency law and such petition or proceeding is not dismissed within thirty (30) days,

 

(vii)                           Tenant is adjudicated a bankrupt,

 

(viii)                        Tenant by any act indicates its consent to, approval of or acquiescence in, or a court approves, a petition filed or proceeding commenced against Tenant under any federal or state bankruptcy or insolvency law,

 

(ix)                              a receiver or other official is appointed for Tenant or for a substantial part of Tenant’s assets or for Tenant’s interests in this Lease,

 

(x)                                 any attachment or execution against a substantial part of Tenant’s assets or of Tenant’s interests in this Lease remains unstayed or undismissed for a period of more than ten (10) days, or

 

(xi)                              a substantial part of Tenant’s assets or of Tenant’s interest in this Lease is taken by legal process in any action against Tenant,

 

then, in any such event, an Event of Default shall be deemed to exist and Tenant shall be in default hereunder.

 

If an Event of Default shall occur, the following provisions shall apply and Landlord shall have, in addition to all other rights and remedies available at law or in equity, the rights and remedies set forth therein, which rights and remedies may be exercised upon or at any time following the occurrence of an Event of Default unless, prior to such exercise, Landlord shall agree in writing with Tenant that the Event(s) of Default has been cured by Tenant in all respects.

 

(a)                                 Acceleration of Rent.  By notice to Tenant, Landlord shall have the right to accelerate all Fixed Rent and all expense installments due hereunder and otherwise payable in installments over the remainder of the Term, and, at Landlord’s option, any other Additional Rent to the extent that such Additional Rent can be determined and calculated to a fixed sum; and the amount of accelerated rent to the termination date, without further notice or demand for payment, shall be due and payable by Tenant within five (5) days after Landlord has so notified Tenant, such amount collected from Tenant pursuant to a judgment shall be discounted to present value using an interest rate of ten percent (10%) per annum.  Additional Rent which has not been included, in whole or in part, in accelerated rent, shall be due and payable by Tenant during the remainder of the Term, in the amounts and at the times otherwise provided for in this Lease.

 

Notwithstanding the foregoing or the application of any rule of law based on election of remedies or otherwise, if Tenant fails to pay the accelerated rent in full when due, Landlord thereafter shall have the right by notice to Tenant, (i) to terminate Tenant’s further right to possession of the Premises and (ii) to terminate this Lease under paragraph (b) below; and if Tenant shall have paid part but not all of the accelerated rent, the portion thereof attributable to the period equivalent to the part of the Term remaining after Landlord’s termination of possession or termination of this Lease shall be applied by Landlord against Tenant’s obligations owing to Landlord, as determined by the applicable provisions of paragraphs (c) and (d) below.

 

21

 

(b)                                 Termination of Lease.  By notice to Tenant, Landlord shall have the right to terminate this Lease as of a date specified in the notice of termination and in such case, Tenant’s rights, including any based on any option to renew, to the possession and use of the Premises shall end absolutely as of the termination date; and this Lease shall also terminate in all respects except for the provisions hereof regarding Landlord’s damages and Tenant’s liabilities arising prior to, out of and following the Event of Default and the ensuing termination.

 

Following such termination and the notice of same provided above (as well as upon any other termination of this Lease by expiration of the Term or otherwise) Landlord immediately shall have the right to recover possession of the Premises; and to that end, Landlord may enter the Premises and take possession, without the necessity of giving Tenant any notice to quit or any other further notice, with or without legal process or proceedings, and in so doing Landlord may remove Tenant’s property (including any improvements or additions to the Premises which Tenant made, unless made with Landlord’s consent which expressly permitted Tenant to not remove the same upon expiration of the Term), as well as the property of others as may be in the Premises, and make disposition thereof in such manner as Landlord may deem to be commercially reasonable and necessary under the circumstances.

 

(c)                                  Tenant’s Continuing Obligations/Landlord’s Reletting Rights.

 

(1)                                 Unless and until Landlord shall have terminated this Lease under paragraph (b) above, Tenant shall remain fully liable and responsible to perform all of the covenants and to observe all the conditions of this Lease throughout the remainder of the Term to the early termination date; and, in addition, Tenant shall pay to Landlord, upon demand and as Additional Rent, the total sum of all costs, losses and expenses, including reasonable attorneys’ fees, as Landlord incurs, directly or indirectly, because of any Event of Default having occurred.

 

(2)                                 If Landlord either terminates Tenant’s right to possession without terminating this Lease or terminates this Lease and Tenant’s leasehold estate as above provided, then, subject to the provisions below, Landlord shall have the unrestricted right to relet the Premises or any part(s) thereof to such tenant(s) on such provisions and for such period(s) as Landlord may deem appropriate.  If Landlord relets the Premises after such a default, the costs recovered from Tenant shall be reallocated to take into consideration any additional rent which Landlord receives from the new tenant which is in excess to that which was owed by Tenant.

 

(d)                                 Landlord’s Damages.

 

(1)                                 The damages which Landlord shall be entitled to recover from Tenant shall be the sum of:

 

(A)                               all Fixed Rent and Additional Rent accrued and unpaid as of the termination date; and

 

(B)                               (i) all costs and expenses incurred by Landlord in recovering possession of the Premises, including removal and storage of Tenant’s property, (ii) the costs and expenses of restoring the Premises to the condition in which the same were to have been surrendered by Tenant as of the expiration of the Term, and (iii) the costs of reletting commissions; and

 

22

 

(C)                               all Fixed Rent and Additional Rent (to the extent that the amount(s) of Additional Rent has been then determined) otherwise payable by Tenant over the remainder of the Term as reduced to present value.

 

Less deducting from the total determined under subparagraphs (A), (B) and (C) all Rent and all other Additional Rent to the extent determinable as aforesaid, (to the extent that like charges would have been payable by Tenant) which Landlord receives from other tenant(s) by reason of the leasing of the Premises or part during or attributable to any period falling within the otherwise remainder of the Term.

 

(2)                                 The damage sums payable by Tenant under the preceding provisions of this paragraph (d) shall be payable on demand from time to time as the amounts are determined; and if from Landlord’s subsequent receipt of rent as aforesaid from reletting, there be any excess payment(s) by Tenant by reason of the crediting of such rent thereafter received, the excess payments) shall be refunded by Landlord to Tenant, without interest.

 

(e)                                  Interest on Damage Amounts.  Any sums payable by Tenant hereunder, which are not paid after the same shall be due, shall bear interest from that day until paid at the rate of four (4%) percent over the then Prime Rate as published daily under the heading “Money Rates” in The Wall Street Journal, unless such rate be usurious as applied to Tenant, in which case the highest permitted legal rate shall apply (the “Default Rate”).

 

(f)                                   Landlord’s Statutory Rights.  Landlord shall have all rights and remedies now or hereafter existing at law or in equity with respect to the enforcement of Tenant’s obligations hereunder and the recovery of the Premises.  No right or remedy herein conferred upon or reserved to Landlord shall be exclusive of any other right or remedy, but shall be cumulative and in addition to all other rights and remedies given hereunder or now or hereafter existing at law.  Landlord shall be entitled to injunctive relief in case of the violation, or attempted or threatened violation, of any covenant, agreement, condition or provision of this Lease, or to a decree compelling performance of any covenant, agreement, condition or provision of this Lease.

 

(g)                                  Remedies Not Limited.  Nothing herein contained shall limit or prejudice the right of Landlord to exercise any or all rights and remedies available to Landlord by reason of default or to prove for and obtain in proceedings under any bankruptcy or insolvency laws, an amount equal to the maximum allowed by any law in effect at the time when, and governing the proceedings in which, the damages are to be proved, whether or not the amount be greater, equal to, or less than the amount of the loss or damage referred to above.

 

(h)                                 No Waiver by Landlord.  No delay or forbearance by landlord in exercising any right or remedy hereunder, or Landlord’s undertaking or performing any act or matter which is not expressly required to be undertaken by Landlord shall be construed, respectively, to be a waiver of Landlord’s rights or to represent any agreement by Landlord to undertake or perform such act or matter thereafter.  Waiver by Landlord of any breach by Tenant of any covenant or condition herein contained (which waiver shall be effective only if so expressed in writing by Landlord) or failure by Landlord to exercise any right or remedy in respect of any such breach shall not constitute a waiver or relinquishment for the future of Landlord’s right to have any such covenant or condition duly performed or observed by Tenant, or of Landlord’s rights arising because of any subsequent breach of any such covenant or condition nor bar any right or remedy of Landlord in respect of such breach or any subsequent breach.  Landlord’s receipt and acceptance of any payment from Tenant which is tendered not in conformity with the provisions of this Lease or following an Event of Default

 

23

 

(regardless of any endorsement or notation on any check or any statement in any letter accompanying any payment) shall not operate as an accord and satisfaction or a waiver of the right of Landlord to recover any payments then owing by Tenant which are not paid in full, or act as a bar to the termination of this Lease and the recovery of the Premises because of Tenant’s previous default.

 

23.                               CURING TENANT’S DEFAULTS

 

If Tenant shall default in the performance of any of its non-monetary obligations hereunder, Landlord without prejudice and in addition to any other rights it may have at law or in equity, after giving Tenant written notice of such default and after failure by Tenant within thirty (30) days of the receipt of such notice to correct or to undertake and diligently pursue correction of said default(s) in which event the thirty day period shall be extended for a reasonable time not to exceed an additional fifteen (15) days (which notice and/or opportunity to cure shall not be required in case Landlord shall determine that an emergency exists requiring prompt action), may cure such defaults(s) on behalf of Tenant; and Tenant shall reimburse Landlord on demand for all costs incurred by Landlord in that regard plus interest thereon from the date(s) of expenditure at the Default Rate, which shall be deemed Additional Rent payable hereunder.

 

24.                               LANDLORD’S LIEN                                                                             INTENTIONALLY DELETED

 

25.                               LANDLORD’S REPRESENTATIONS AND WARRANTIES. Landlord represents and warrants to Tenant as follows:

 

(1)                                 Landlord is the fee owner of the Building and the Project; and

 

(2)                                 Landlord has the authority to enter into this Lease.

 

(3)                                 To the best of the Landlords knowledge, the Building and Premises is in full compliance with all applicable codes, regulations, statues and ordinances.

 

26.                               SURRENDER

 

Tenant shall, at the expiration of the Term, promptly quit and surrender the Premises in good order and condition and in conformity with the applicable provisions of this Lease, excepting only reasonable wear and tear and damage by fire or other insured casualty.  Tenant shall have no right to hold over beyond the expiration of the Term and in the event Tenant shall fail to deliver possession of the Premises as herein provided, such occupancy shall not be construed to effect or constitute other than a tenancy at sufferance: During any period of occupancy beyond the expiration of the Term the amount of rent owed to Landlord by Tenant shall automatically become two hundred percent (200%) the sum of the Rent as those sums are at that time calculated under the provisions of the Lease.  If Tenant fails to surrender the space within thirty (30) days of the termination date, Landlord may elect to automatically extend the Term for an additional month or additional year, at Landlords option, with a Rent of two hundred percent (200%) the sum of the Rent as those sums are at that time calculated under the provisions of the Lease.  The acceptance of rent by Landlord or the failure or delay of Landlord in notifying or evicting Tenant following the expiration or sooner termination of the Term shall not create any tenancy rights in Tenant and any such payments by Tenant may be applied by Landlord against its costs and expenses, including attorney’s fees incurred by Landlord as a result of such holdover.

 

24

 

27.          RULES AND REGULATIONS

 

Tenant agrees that at all times during the terms of this Lease (as same may be extended) it, its employees, agents, invitees and licenses shall comply with all rules and regulations specified on Exhibit “C” attached hereto and made a part hereof, together with all reasonable Rules and Regulations as Landlord may from time to time promulgate provided they do not increase the financial burdens of Tenant or unreasonably restrict Tenant’s rights under this Lease.  Tenant’s right to dispute the reasonableness of any changes in or additions to the Rules and Regulations shall be deemed waived unless asserted to Landlord within ten (10) business days after Landlord shall have given.  Tenant written notice of any such adoption or change.  In case of any conflict or inconsistency between the provisions of this Lease and any Rules and Regulations, the provisions of this Lease shall control Landlord shall have no duty or obligation to enforce any Rule and Regulation, or any term, covenant or condition of any other lease, against any other tenant, and Landlord’s failure or refusal to enforce any Rule or Regulation or any term, covenant of condition of any other lease against any other tenant shall be without liability to Landlord to Tenant.  However, if Landlord does enforce Rules or Regulations, Landlord shall endeavor to enforce same equally in a non-discriminatory manner.

 

28.          GOVERNMENTAL REGULATIONS

 

(a)           Tenant shall, in the use and occupancy of the Premises and the conduct of Tenant’s business or profession therein, at all times comply with all applicable laws, ordinances, orders, notices, rules and regulations of the federal, state and municipal governments, or any of their departments and the regulations of the insurers of the Premises, Building and/or Project.

 

(b)           Without limiting the generality of the foregoing, Tenant shall (i) obtain, at Tenant’s expense, before engaging in Tenant’s business or profession within the Premises, all necessary licenses and permits including (but not limited to) state and local business licenses or permits, and (ii) remain in compliance with and keep in full force and effect at all times all licenses, consents and permits necessary for the lawful conduct of Tenant’s business or profession at the Premises.  Tenant shall pay all personal property taxes, income taxes and other taxes, assessments, duties, impositions and similar charges which are or may be assessed, levied or imposed upon Tenant and which, if not paid, could be liened against the Premises or against Tenant’s property therein or against Tenant’s leasehold estate.

 

(c)           Landlord shall be responsible for compliance with Title III of the Americans with Disabilities Act of 1990, 42 U.S.C. 12181 et seq. and its regulations, (collectively, the “ADA”) (i) as to the design and construction of exterior common areas (e.g. sidewalks and parking areas) and (ii) with respect to the initial design and construction by Landlord of Landlord’s Work (as defined in Article 4 hereof).  Except as set forth above in the initial sentence hereto, Tenant shall be responsible for compliance with the ADA in all other respects concerning the use and occupancy of the Premises, which compliance shall include, without limitation (i) provision for full and equal enjoyment of the goods, services, facilities, privileges, advantages or accommodations of the Premises as contemplated by and to the extent required by the ADA, (ii) compliance relating to requirements under the ADA or amendments thereto arising after the date of this Lease and (iii) compliance relating to the design, layout, renovation, redecorating, refurbishment, alteration, or improvement to the Premises made or requested by Tenant at any time following completion of the Landlord’s Work.

 

25

 

(d)           Tenant shall indemnify, protect, defend and save Landlord harmless with regard to any non-compliance or alleged non-compliance by Tenant with any law, order, ordinance, regulation, permit, license or other governmental matter in any way relating to the conduct of Tenant’s business or profession in the Premises.  If Landlord is named as defendant or a responsible party with respect to any alleged violation or non-compliance by Tenant as aforesaid, Landlord also may require, by notice to Tenant, that the matters or conduct giving rise thereto be discontinued by Tenant unless and until the alleged violation or non-compliance is resolved in Tenant’s favor.

 

29.          NOTICES

 

Wherever in this Lease it shall be required or permitted that notice or demand be given or served by either party to this Lease to or on the other party, such notice or demand shall be deemed to have been duly given or served if in writing and either: (i) personally served; (ii) delivered by pre-paid nationally recognized overnight courier service (e.g., Federal Express) with evidence of receipt required for delivery; or (iii) forwarded by Registered or Certified mail, return receipt requested, postage prepaid; in all such cases addressed to the parties at the addresses set forth in Article 1(m) hereof.  Each such notice shall be deemed to have been given to or served upon the party to which addressed on the date the same is delivered or delivery is refused.  Either party hereto may change its address to which said notice shall be delivered or mailed by giving written notice of such change to the other party hereto, as herein provided.

 

30.          BROKERS

 

Tenant represents and warrants to Landlord that Tenant has had no dealings, negotiations or consultations with respect to the Premises or this transaction with any broker or finder other than the Broker identified in Article 1(k); and that otherwise no broker or finder called the Premises to Tenant’s attention for lease or took any part in any dealings, negotiations or consultations with respect to the Premises or this Lease.  Each party agrees to indemnify and hold the other harmless from and against all liability, cost and expense, including attorney’s fees and court costs, arising out of any misrepresentation or breach of warranty under this Article.

 

31.          CHANGE OF BUILDING/PROJECT NAME

 

Landlord reserves the right at any time and from time to time to change the name by which the Building and/or Project is designated.

 

32.          LANDLORD’S LIABILITY

 

Landlord’s obligations hereunder shall be binding upon Landlord only for the period of time that Landlord is in ownership of the Building; and, upon termination of that ownership, Tenant, except as to any obligations which have then due and owing, shall look solely to Landlord’s successor in interest in the Building for the satisfaction of each and every obligation of Landlord hereunder.  Landlord shall have no personal liability under any of the terms, conditions or covenants of this Lease and Tenant shall look solely to the equity of Landlord in the Building of which the Premises form a part for the satisfaction of any claim, remedy or cause of action accruing to Tenant as a result of the breach of any action of this Lease by Landlord.  In addition to the foregoing, no recourse shall be had for an obligation of Landlord hereunder, or for any claim based thereon or otherwise in respect thereof, against any past, present of future trustee, shareholder, officer, director, agent or employee of Landlord, whether by virtue of any statute or rule of law, or by

 

26

 

the enforcement of any assessment or penalty or otherwise, all such other liability being expressly waived and released by Tenant with respect to the above-named individuals and entities.

 

33.          AUTHORITY

 

Tenant represents and warrants that (a) Tenant is duly organized, validly existing and legally authorized to do business in the State of New Jersey, and (b) the persons executing this Lease are duly authorized to execute and deliver this Lease on behalf of Tenant.

 

34.          NO OFFER

 

The submission of the Lease by Landlord to Tenant for examination does not constitute a reservation of or option for the Premises or of any other space within the Building or in other buildings owned or managed by Landlord or its affiliates.  This Lease shall become effective as a Lease only upon the execution and legal delivery thereof by both parties hereto.

 

35.          RENEWAL

 

Provided Tenant is not in default of the Lease, either at the time of exercise of this option, or at the commencement of the Renewal Term and Tenant is fully occupying the Premises and the Lease is in full force and effect, Tenant shall have the right to renew this Lease for one (1) term of three (3) years each beyond the end of the initial Term (each, a “Renewal Term”).  Tenant shall furnish written notice of intent to renew one (1) year prior to the expiration of the applicable Term, failing which, such renewal right shall be deemed waived; time being of the essence.  The terms and conditions of this Lease during each Renewal Term shall remain unchanged except that the Rental rate, which shall be $22.50, plus electric per square foot.  All factors regarding Additional Rent shall remain unchanged.

 

36.          RELOCATION

 

Landlord, at its sole expense, on at least sixty (60) days prior written notice to Tenant, may require Tenant to move from the Premises to another suite of substantially comparable size and decor in the Building or in the Business Park in order to permit Landlord to consolidate the Premises with other adjoining space leased or to be leased to another tenant in the Building.  In the event of any such relocation, Landlord shall pay all the expenses of preparing and decorating the new premises so that they will be substantially similar to the Premises and shall also pay the expenses of moving and installation of Tenant’s furniture and equipment to the new premises.

 

37.          MISCELLANEOUS PROVISIONS

 

A.            Successors.  The respective rights and obligations provided in this Lease shall bind and inure to the benefit of the parties hereto, their successors and assigns; provided, however, that no rights shall inure to the benefit of any successors of Tenant unless Landlord’s written consent for the transfer to such successor and/or assignee has first been obtained as provided in Article 15 hereof.

 

B.            Governing Law.  This Lease shall be construed, governed and enforced in accordance with the laws of the State of New Jersey, without regard to principles relating to conflicts of law.

 

27

 

C.            Severability.  If any provisions of this Lease shall be held to be invalid, void or unenforceable, the remaining provisions hereof shall in no way be affected or impaired and such remaining provisions shall remain in full force and effect.

 

D.            Captions.  Marginal captions, titles or exhibits and riders and the table of contents in this Lease are for convenience and reference only, and are in no way to be construed as defining, limiting or modifying the scope of intent of the various provisions of this Lease.

 

E.            Gender.  As used in this Lease, the word “person” shall mean and include, where appropriate, an individual, corporation, partnership or other entity; the plural shall be substituted for the singular, and the singular for the plural, where appropriate; and the words of any gender shall mean to include any other gender.

 

F.             Entire Agreement.  This Lease, including the Exhibits and any Riders hereto (which are hereby incorporated by this reference, except that in the event of any conflict before the printed portions of this Lease and any Exhibits or Riders, the term of such Exhibits or Riders shall control), supersedes any prior discussions, proposals, negotiations and discussions between the parties and the Lease contains all the agreements, conditions, understandings, representations and warranties made between the parties hereto with respect to the subject matter hereof, and may not be modified orally or in any manner other than by an agreement in writing signed by both parties hereto or their respective successors in interest.  Without in any way limiting the generality of the foregoing, this Lease can only be extended pursuant to the terms hereof, and in Tenant’s ease, with the due exercise of an option (if any) contained herein or a formal agreement signed by both Landlord and Tenant specifically extending the terms.  No negotiations, correspondence by Landlord or offers to extend the terms shall be deemed an extension of the termination date for any period whatsoever.

 

G.            Counterparts.  This Lease may be executed in any number of counterparts, each of which when taken together shall be deemed to be one and the same instrument.

 

H.            Telefax Signatures.  The parties acknowledge and agree that notwithstanding any law or presumption to the contrary a telefaxed signature of either party whether upon this Lease or any related document shall be deemed valid and binding and admissible by either party against the other as if same were an original ink signature.

 

I.             Calculation of Time.  In computing any period of time prescribed or allowed by any provision of this lease, the day of the act, event or default from which the designated period of time begins to run shall not be included.  The last day of the period so computed shall be included, unless it is a Saturday, Sunday or a legal holiday, in which event the period runs until the end of the next day which is not a Saturday, Sunday, or legal holiday.  Unless otherwise provided herein, all Notices and other periods expire as of 5:00 p.m. (local time in Newtown Square, Pennsylvania) on the last day of the Notice or other period.

 

J.             No Merger.  There shall be no merger of this Lease or of the leasehold estate hereby created with the fee estate in the Premises or any part thereof by reason of the fact that the same person, firm, corporation, or other legal entity may acquire or hold, directly or indirectly, this Lease of the leasehold estate and the fee estate in the Premises or any interest in such fee estate, without the prior written consent of Landlord’s mortgagee.

 

28

 

K.            Time of the Essence.  TIME IS OF THE ESSENCE IN ALL PROVISIONS OF THIS LEASE, INCLUDING ALL NOTICE PROVISIONS TO BE PERFORMED BY OR ON BEHALF OF TENANT.

 

L.            Recordation of Lease.  Tenant shall not record this Lease without the written consent of Landlord.  Upon Landlord’s request or with Landlord’s written consent, the parties agree to execute a short form of this Lease for recording purposes containing such terms as Landlord believes appropriate or desirable, the expense thereof to be borne by Tenant.  If such a short form of this Lease is recorded, upon the termination of this Lease, Tenant shall execute, acknowledge, and deliver to Landlord an instrument in writing releasing and quitclaiming to landlord all right, title and interest of Tenant in and to the Premises arising from this Lease or otherwise, ail without cost or expense to Landlord.

 

M.           Accord and Satisfaction.  No payment by Tenant or receipt by Landlord of a lesser amount than any payment of Fixed Rent or Additional Rent herein stipulated shall be deemed to be other than on account of the earliest stipulated Fixed Rent or Additional Rent due and payable hereunder, nor shall any endorsement or statement or any check or any letter accompanying any check or payment as Rent be deemed an accord and satisfaction.  Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such Rent or pursue any other right or remedy provided for in this Lease, at law or in equity.

 

N.            No Partnership.  Landlord does not, in any way or for any purpose, become a partner of Tenant in the conduct of its business, or otherwise, or joint venture or a member of a joint enterprise with Tenant.  This Lease establishes a relationship solely of that of a landlord and tenant.

 

38.          WAIVER OF TRIAL BY JURY

 

LANDLORD AND TENANT WAIVE THE RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED UPON, OR RELATED TO, THE SUBJECT MATTER OF THIS LEASE.  THIS WAIVER IS KNOWINGLY, INTENTIONALLY, AND VOLUNTARILY MADE BY TENANT AND TENANT ACKNOWLEDGES THAT NEITHER LANDLORD NOR ANY PERSON ACTING ON BEHALF OF LANDLORD HAS MADE ANY REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF TRIAL BY JURY OR IN ANY WAY TO MODIFY OR NULLIFY ITS EFFECT.  TENANT FURTHER ACKNOWLEDGES THAT IT HAS BEEN REPRESENTED (OR HAS HAD THE OPPORTUNITY TO BE REPRESENTED) IN THE SIGNING OF THIS LEASE AND IN THE MAKING OF THIS WAIVER BY INDEPENDENT LEGAL COUNSEL, SELECTED OF ITS OWN FREE WILL, AND THAT IT HAS HAD THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH COUNSEL. TENANT FURTHER ACKNOWLEDGES THAT IT HAS READ AND UNDERSTANDS THE MEANING AND RAMIFICATIONS OF THIS WAIVER PROVISION AND AS EVIDENCE OF SAME HAS EXECUTED THIS LEASE.

 

39.          CONSENT TO JURISDICTION

 

Tenant hereby consents to the exclusive jurisdiction of the state courts located in Cherry Hill and Camden County and to the federal courts located in the District of New Jersey.

 

29

 

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

 

	
 
    	
 
    	
LANDLORD:
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
BRANDYWINE REALTY TRUST
    
	
 
    	
 
    	
 
    	
 
    
	
WITNESS:
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
/s/   [                ]
    	
 
    	
By:
    	
/s/ George D. Sowa
    
	
 
    	
 
    	
 
    	
George D. Sowa
    
	
 
    	
 
    	
 
    	
Vice President
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
TENANT:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Amtralease Truck Leasing Services Corp. T/A   Ameriquest
    
	
 
    	
 
    	
 
    	
 
    
	
ATTEST
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
/s/   [                ]
    	
 
    	
By:
    	
/s/ Doug Clark
    
	
Assistant Secretary
    	
 
    	
PRINT: 
    	
Doug Clark, President
    
					

 

30

 

EXHIBIT “A”

 

SPACE PLAN

 

 

 

EXHIBIT “C”

 

BUILDING RULES AND REGULATIONS 
  LAST REVISION:  FEBRUARY 1, 1998

 

Landlord reserves the right to rescind any of these rules and make such other and further rules and regulations as in the judgment of Landlord shall from time to time be needed for the safety, protection, care and cleanliness of the Project, the operations thereof, the preservation of good order therein and the protection and comfort of its tenants, their agents, employees and invitees, which rules when made and notice thereof given to Tenant shall be binding upon him in a like manner as if originally prescribed.  Landlord will notify Tenant in writing of any changes to the Building Rules and Regulations.

 

1.                                      Sidewalks, entrances, passages, elevators, vestibules, stairways, corridors, halls, lobby and any other part of the Building shall not be obstructed or encumbered by any Tenant or used for any purpose other than ingress or egress to and from each tenant’s premises.  Landlord shall have the right to control and operate the common portions of the Building and exterior facilities furnished for common use of the tenants (such as the eating, smoking, and parking areas) in such a manner as Landlord deems best.

 

2.                                      No awnings or other projections shall be attached to the outside wails of the Building without the prior written consent of Landlord.  All drapes, or window blinds, must be of a quality, type and design, color and attached in a manner approved by Landlord.

 

3.                                      No showcases or other articles shall be put in front of or affixed to any part of the exterior of the Building, or placed in hallways or vestibules without prior written consent of Landlord.

 

4.                                      Rest rooms and other plumbing fixtures shall not be used for any purposes other than those for which they were constructed and no debris, rubbish, rags or other substances shall be thrown therein.  Only standard toilet tissue may be flushed in commodes.  All damage resulting from any misuse of these fixtures shall be the responsibility of the Tenant who, or whose employees, agents, visitors, clients, or licensees shall have caused same.

 

5.                                      No tenant, without the prior consent of Landlord, shall mark, paint, drill into, bore, cut or string wires or in any way deface any part of the Premises or the Building of which they form a part except for the reasonable hanging of decorative or instructional materials on the walls of the Premises.

 

6.                                      Tenants shall not construct or maintain, use or operate in any part of the project any electrical device, wiring or other apparatus in connection with a loud speaker system or other sound/communication system which may be heard outside the Premises.  Any such communication system to be installed within the Premises shall require prior written approval of Landlord.

 

7.                                     No bicycles, baby carriages or other vehicles and no animals, birds or other pets of any kind shall be brought into or kept in or about the Building.

 

8.                                      No tenant shall cause or permit any unusual or objectionable odors to be produced upon or permeate from its premises.

 

 

9.                                      No space in the Building shall be used for the manufacture of goods for sale in the ordinary course of business, or for sale at auction of merchandise, goods or property of any kind.

 

10.                               No tenant may change the use of the premises without the prior written approval of Landlord.

 

11.                               No tenant, or employees of Tenant, shall make any unseemly or disturbing noises or disturb or interfere with the occupants of this or neighboring buildings or residences by voice, musical instrument, radio, talking machines, whistling, singing, or in any way.  All passage through the Building’s hallways, elevators, and main lobby shall be conducted in a quiet, business-like manner.

 

12.                               No tenant shall throw anything out of the doors, windows, or down corridors or stairs of the Building.

 

13.                               Tenant shall not place, install or operate on the Premises or in any part of the Project, any engine, stove or machinery or conduct mechanical operations or cook thereon or therein except for: coffee machine, microwave oven, vending machines, or place or use in or about the Premises or Project any explosives, gasoline, kerosene oil, acids, caustics or any other flammable, explosive, or hazardous material without prior written consent of Landlord.

 

14.                               No smoking is permitted in the rest rooms, hallways, elevators, stairs, lobby, exit and entrances vestibules, sidewalks, parking lot area except for the designated exterior smoking area.  All cigarette ashes and butts are to be deposited in the containers provided for same, and not disposed of on sidewalks, parking lot areas, or toilets within the Building rest rooms.

 

15.                               Tenants are not to install any additional locks or bolts of any kind upon any door or window of the Building without prior written consent of Landlord.  Each tenant must, upon the termination of tenancy, return to the Landlord all keys for the Premises, either furnished to or otherwise procured by such tenant, and all security access card to the Building.

 

16.                               All doors to hallways and corridors shall be kept closed during business hours except as they may be used for ingress or egress.

 

17.                               Tenant shall not use the name of the Building, Landlord or Landlord’s Agent in any way in connection with his business except as the address thereof.  Landlord shall also have the right to prohibit any advertising by Tenant, which, in its sole opinion, tends to impair the reputation of the Building or its desirability as a building for offices, and upon written notice from Landlord, Tenant shall refrain from or discontinue such advertising.

 

18.                               Tenants must be responsible for all Security Access cards issued to them, and to secure the return of same from any employee terminating employment with them.  No person/company other than Building Tenants and/or their employees may have Security Access cards unless Landlord grants prior written approval.

 

19.                               All deliveries by vendors, couriers, clients, employees or visitors to the Building which involve the use of a hand cart, hand truck, or other heavy equipment or device must be made via the Freight Elevator.  Tenant shall be responsible to Landlord for any loss or damage resulting from any deliveries made by or for Tenant to the Building.

 

2

 

20.                               Landlord reserves the right to inspect all freight to be brought into the Building, and to exclude from the Building all freight or other material which violates any of these rules and regulations.

 

21.                               Tenant will refer all contractors, contractor’s representatives and installation technicians, rendering any service on or to the premises for Tenant. to Landlord for Landlord’s approval and supervision before performance of any contractual service or access to Building.  This provision shall apply to all work performed in the Building including installation of telephones, telegraph equipment, electrical devices and attachments and installations of any nature affecting floors, walls, woodwork, trim, windows, ceilings, equipment or any other physical portion of the Building.  Landlord reserves right to require that all agents of contractors/vendors sign in and out of the Building.

 

22.                               Landlord reserves the right to exclude from the Building at all times any person who is not known or does not properly identify himself to Landlord’s management or security personnel.

 

23.                               Landlord may require, at its sole option, all persons entering the Building after 6 PM or before 7 AM, Monday through Friday and at any time on Holidays, Saturdays and Sundays, to register at the time they enter and at the time they leave the Building.

 

24.                               No space within the Building, or in the common areas such as the parking lot, may be used at any time for the purpose of lodging, sleeping, or for any immoral or illegal purposes.

 

25.                               No employees or invitees of Tenant shall use the hallways, stairs, lobby, or other common areas of the Building as lounging areas during “breaks” or during lunch periods.

 

26.                               Each tenant, before dosing and leaving their premises, should lower the blinds within their spaces.

 

27.                               No canvassing, soliciting or peddling is permitted in the Building or its common areas by tenants, their employees, or other persons.  Each tenant shall cooperate to prevent same and shall report any such incident to Landlord’s management.

 

28.                               No mats, trash, or other objects shall be placed in the public corridors, hallways, stairs, or other common areas of the Building.

 

29.                               Tenant must place all recyclable items of cans, bottles, plastic and office recyclable paper in appropriate containers provided by Landlord in each tenant’s space.  Removable of these recyclable items will be by Landlord’s janitorial personnel.

 

30.                              Landlord does not maintain suite finishes which are non-standard, such as kitchens, bathrooms, wallpaper, special lights, etc.  However, should the need arise for repair of items not maintained by Landlord, Landlord at its sole option, may arrange for the work to be done at Tenant’s expense.

 

31.                               Drapes installed by Tenant, which are visible from the exterior of the Building, must be cleaned by Tenant, at its own expense, at least once a year.

 

3

 

32.                               No pictures, signage, advertising, decals, banners, etc. are permitted to be placed in or on windows in such a manner as they are visible from the exterior, without the prior written consent of Landlord.

 

33.                               Tenant or Tenant’s employees are prohibited at any time from eating or drinking in hallways, elevators, rest rooms, lobby or lobby vestibules.

 

34.                               Tenant shall be responsible to Landlord for any acts of vandalism performed in the Building by its employees, agents, invitees or visitors.

 

35.                               No tenant shall permit the visit to its Premises of persons in such numbers or under such conditions as to interfere with the use and enjoyment of the entrances, hallways, elevators, lobby or other public portions or facilities of the Building and exterior common areas by other tenants.

 

36.                               Landlord’s employees shall not perform any work or do anything outside of their regular duties unless under special instructions from Landlord.  Requests for such requirements must be submitted in writing to Landlord.

 

37.                               Tenant agrees that neither Tenant nor its agents, employees, licensees or invitees will interfere in any manner with the installation and/or maintenance of the heating, air conditioning and ventilation facilities and equipment.

 

38.                               Landlord will not be responsible for lost or stolen personal property, equipment, money or jewelry from Tenant’s area or common areas of the Project regardless of whether such loss occurs when area is locked against entry or not.

 

39.                               Landlord will not permit entrance to Tenant’s Premises by use of pass key controlled by Landlord, to any person at any time without written permission of Tenant, except employees, contractors or service personnel supervised or employed by Landlord.

 

40.                               Tenant and its agents, employees and invitees shall observe and comply with the diving and parking signs and markers on the Building grounds and surrounding areas.

 

41.                               Tenant and its employees, invitees, agents, etc. shall not enter other separate tenants’ hallways, restrooms or premises unless they have received prior approval from Landlord’s management.

 

************

 

4

 

EXHIBIT “D”

 

CLEANING SPECIFICATIONS

 

I                                           ALL OFFICE AREAS

 

Daily Cleaning

 

All waste /trash receptacles to be empties, cleaned and new plastic bags installed as needed.

Any ashtrays to be emptied, washed and dried.

Dust and wipe clean all partitions, picture frames and window sills.

Vacuum all carpeted areas thoroughly, moving small items of furniture.

All tile floors will be swept with a clean, chemically treated dust mop and spot cleaned.

All tables, chairs, desks and lamps to be dusted.

All trash collected to be disposed of daily in exterior dumpster, with recyclables placed in proper containers for weekly collection.

All chrome door panels and handles to be polished and all door windows to be cleaned.

 

Weekly Cleaning

 

All tile floors to be spot cleaned, damp mopped and spray buffed.

Dust and wipe clean all air diffusers and ventilators.

All venetian blinds to be dusted.

Recyclable containers to be checked for sufficient supply of empty bags.

 

Monthly Cleaning

 

All carpeting to be spot cleaned.

 

II                                      FIRE TOWER STAIRWAYS

 

Daily Cleaning

 

Removal of any loose debris on same.

 

Weekly Cleaning

 

All stairways to be broom swept.

All wall light fixtures to be dusted.

Spot clean doors including windows.

 

Monthly Cleaning

 

All wall light fixtures to be wiped clean.

All stairways to be broom swept with sweeping compound to remove dust.

 

 

III                                 ELEVATORS

 

Daily Cleaning

 

All metal and wood in elevators to be cleaned, including entrances.

Carpeting to be vacuumed.

Marbled areas to be dusted with clean, chemically treated mop and spot cleaned.

 

Weekly Cleaning

 

All wooden panels to be polished with wood cleaner.

All elevator dour tracks and saddles to be vacuumed.

Carpeting to spot cleaned.

 

Monthly Cleaning

 

All elevator exterior indicator lights are to be cleaned and polished.

Call and key boxes to be opened and dusted inside.

 

IV                                  LOBBY/VESTIBULE AREA

 

Daily Cleaning

 

Water fountain ledges to be dusted using long-handled duster.

Marble floors to be dusted using clean dust mop and spot cleaned.

Ashtrays/trash receptacles to be emptied, cleaned, and new liners installed as needed.

Glass and chrome on all doors to be cleaned and polished.

Desk area to be dusted.

Carpeted areas to be vacuumed.

Tenant Directory covers to be cleaned with glass cleaner.

Water fountain to be sanitized and polished.

Courier boxes in Mail Center to be dusted.

Painted metal ledges to be dusted.

Chrome mailboxes to be cleaned and polished.

 

Weekly Cleaning

 

Marble floors to be wet mopped.

Vestibule telephones/pay telephone to be sanitized and wipe dry.

Venetian blinds in ATM area to be dusted.

Window sills in ATM area and painted metal ledges in Lobby and vestibules to be wiped down with a damp cloth and cleaner.

 

Monthly Cleaning

 

All metal doors/ledges to be wiped down with a damp rag/cleaner.

Modular wood desk unit in Lobby to be polished.

Hanging ceiling light fixtures (Lobby) to be wiped with a damp cloth/cleaner.

Marble walls to be dusted using long-handled duster.

 

2

 

V                                       RESTROOMS

 

Daily Cleaning

 

Refill paper towel dispensers.

Refill toilet tissue dispensers.

Refill soap dispensers if needed.

Clean/polish all stainless steell brushed aluminum surfaces.

Clean vanity tops with appropriate cleaner.

Clean toilet bowls and bases with appropriate cleaner.

Empty sanitary napkin receptacles and replace with clean bag.

Empty trash receptacle and replace with clean bag.

Wet mop floor with disinfectant cleaner.

All trash receptacles to be emptied.

 

Weekly Cleaning

 

Wipe tops of metal stall dividers with damp rag.

Spot clean stall dividers as required.

Refill feminine hygiene product dispensers.

 

Monthly Cleaning

 

Wipe down all metal stall dividers including hinges.

Clean tile walls with appropriate cleaner.

Clean corners where tile floors meet walls.

 

VI                                  OTHER COMMON AREAS-HALLWAYS.  EXTERIOR

 

Daily Cleaning

 

All light fixtures to be dusted.

All carpeting to be vacuumed.

Floor Directory/office door signage to be dusted.

Class sections and chrome panels on doors to be cleaned and polished.

Water fountains to be sanitized and polished.

Exterior trash receptacles on walkways at front and rear entrances/smoking area to be emptied and new bags installed as needed.

 

Weekly Cleaning

 

Metal doors to be spot cleaned.

Cigarette urns at exterior smoking area to be cleaned of all cigarette butts.

Floor Directory/office door signage to be cleaned/polished.

 

Monthly Cleaning

 

Wood doors to be polished.

Carpeting to be spot cleaned as needed.

Metal doors to be wiped down with a damp rag and cleaner.

 

3

 

 

May 17, 1999

 

Douglas Clark

AMTRALEASE TRUCK LEASING SERVICES

CORP. t/a AMERIQUEST

35 Kings Highway East, Suite 203

Haddonfield, New Jersey 08033

 

RE:                          LibertyView, Suite 220 
 Cherry Hill, New Jersey

 

Dear Mr. Clark:

 

Enclosed are two (2) revised executed counterparts of the First Amendment to Lease on the above referenced premises for your file.  I apologize for any inconvenience this may have caused and thank you for you cooperation in this matter.

 

If you have any question, please contact me.  Thank you.

 

	
 
    	
Sincerely,
    
	
 
    	
 
    
	
 
    	
/s/ Peggy Ireland
    
	
 
    	
 
    
	
 
    	
Peggy Ireland
    
	
 
    	
Marketing and Leasing
    

 

/pi

 

Enclosure

 

10000 MIDLANTIC DRIVE · SUITE 300 WEST

MT. LAUREL, NJ 08054

(609) 787-1600

(609) 787-1310 Fax

 

 

FIRST AMENDMENT TO LEASE

 

This First Amendment to Lease made and entered into this 15th day of May, 1999 by and between BRANDYWINE REALTY TRUST, herein after referred to as “Landlord” and AmtraLease Truck Leasing Services Corp., t/a Ameriquest, hereinafter referred to as ‘Tenant”.

 

WHEREAS, Landlord leased certain premises located at LibertyView, 457 Haddonfield Road, Cherry Hill, Camden County, New Jersey to Tenant pursuant to that certain Lease dated January 14, 1999, hereinafter referred to as “Lease”, the premises being more particularly described therein; and

 

NOW THEREFORE, in consideration of these present and the agreement of each other, Landlord and Tenant agree that the said Lease shall be and the same is hereby amended as follows:

 

	
1.
    	
“Rentable Area:”
    	
To be amended to read 121,737 square feet.
    
	
 
    	
 
    	
 
    
	
2.
    	
“Fixed Rent:”
    	
Tenant shall mail monthly installments of   Fixed Rent as set forth in Article 1(c) of the Lease to:
    

 

Brandywine Realty Trust

10000 Midlantic Drive, Suite 300 West

Mt. Laurel, NJ 08054

 

Except as amended hereby, all of the terms, covenants and conditions of this Lease shall remain in full force and effect as heretofore.

 

IN WITNESS WHEREOF, Landlord and Tenant have duly executed this agreement on the date first above written.

 

	
 
    	
 
    	
LANDLORD:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
BRANDYWINE REALTY TRUST
    
	
 
    	
 
    	
By:
    	
Brandywine Realty Service Corp.,
    
	
 
    	
 
    	
 
    	
Its Agent
    
	
WITNESS:
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
/s/   [                ]
    	
 
    	
By:
    	
/s/ George D. Sowa
    
	
 
    	
 
    	
 
    	
George D. Sowa
    
	
 
    	
 
    	
 
    	
Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
TENANT:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
AMTRALEASE TRUCK LEASING SERVICES CORP. t/a AMERIQUEST
    
	
ATTEST
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/   [                ]
    	
 
    	
By:
    	
/s/ Doug Clark
    
	
Assistant Secretary
    	
 
    	
 
    	
Name:
    	
Doug Clark
    
	
 
    	
 
    	
 
    	
Title:
    	
President
    

 

 

SECOND AMENDMENT TO LEASE

 

THIS SECOND AMENDMENT TO LEASE is made and dated the 1st day of August, 2000 by and between BRANDYWINE REALTY TRUST, a Maryland Real Estate Investment Trust(“Landlord”) and AMTRALEASE TRUCK LEASING SERVICES CORP., t/a AMERIQUEST (“Tenant”).

 

BACKGROUND

 

A.                                    On January 14, 1999 Landlord and Tenant entered into that certain Lease pursuant to the terms and provisions of which the Tenant leased approximately 3,310 rentable square feet of space, being Suite 220 (the “Premises”) in the Building located at 457 Haddonfield Road, Cherry Hill, New Jersey (the “Building”), as amended by that certain First Amendment to Lease dated May 28, 1999 (as amended, the “Lease”).

 

B.                                    Tenant desires to expand the Premises by adding thereto, approximately 1,661 square feet of space on the second floor of the Building, as identified and outlined on Exhibit “A” attached hereto and made a part hereof (the “Expansion Space”) pursuant to the terms and provisions of this Amendment.  Landlord and Tenant now desire to modify the terms and provisions of the Lease pursuant to the provisions of this Second Amendment.

 

NOW, THEREFORE, for good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.                                      DEFINITIONS. (i) Except as specifically defined in this Second Amendment, all initially capitalized terms shall have the meaning ascribed to such terms as set forth in the Lease.

 

(ii)                                  From and after the Expansion Space Commencement Date (defined below), the following terms shall be amended in their entirety as follows:

 

(a)                                 “Premises”: The Premises and the Expansion Space, consisting of approximately 4,971 square feet of space on the second floor of the Building.

 

(b)                                 “Fixed Rent”:

 

	
LEASE YEAR
    	
 
    	
PER R.S.F.
    	
 
    	
MONTHLY
   INSTALLMENTS
    	
 
    	
ANNUAL
   FIXED RENT
    	
 
    
	
Months 1-12
    	
 
    	
$21.75, plus electric
    	
 
    	
$
    	
9,009.94 + 483.13
    	
 
    	
$
    	
108,119.25
    	
 
    
	
Months 13-24
    	
 
    	
$22.00, plus electric
    	
 
    	
$
    	
9,113,50
    	
 
    	
$
    	
109,362.00
    	
 
    
	
Months 25-36
    	
 
    	
$22.25, plus electric
    	
 
    	
$
    	
9,217.06
    	
 
    	
$
    	
110,604.75
    	
 
    
	
Months 37 - 48
    	
 
    	
$22.50, plus electric
    	
 
    	
$
    	
9,320.63
    	
 
    	
$
    	
111,847.50
    	
 
    
	
Months 49 - 60
    	
 
    	
$22.75, plus electric
    	
 
    	
$
    	
9,424.19
    	
 
    	
$
    	
113,090.25
    	
 
    

 

 

(c)                                  “Tenant’s Allocated Share”: 4.08%

 

(d)                                 “Rentable Area”:                          Premises: 4,971 

Building: 121,737

 

(e)                                  “Term”: Sixty (60) months from the Expansion Space Commencement Date.

 

2.                                      Term (a) The Term of this Lease with respect to the Expansion Space shall commence (the “Expansion Space Commencement Date”) on the date which is the earlier of (i) when Tenant, with Landlord’s prior consent, assumes possession of the Expansion Space, (ii) upon substantial completion of the Tenant Improvement Work (defined below).  The Expansion Space shall be deemed “substantially completed” when the Tenant Improvement Work has been completed to the extent that the Expansion Space may be occupied by Tenant for its Permitted Uses, subject only to completion of minor finishing, adjustment of equipment, and other minor construction aspects, and Landlord has procured a certificate of occupancy permitting the occupancy of the Premises (hereafter, “substantially completed”).  The Term shall expire on the last day of the month which is sixty (60) months from the Expansion Space Commencement Date.  The Expansion Space Commencement Date shall be confirmed by Landlord and Tenant by the execution of a Confirmation of Lease Term in the form attached hereto as Exhibit “B”.  If Tenant fails to execute or object to the Confirmation of Lease Term within ten (10) business days of its delivery, Landlord’s determination of such dates shall be deemed accepted.

 

(b)                                 Upon notification by Landlord, Landlord and Tenant shall schedule a pre-occupancy inspection of the Expansion Space at which time a punchlist of outstanding items, if any, shall be completed.  Within a reasonable time thereafter, Landlord shall complete the punchlist items to Tenant’s reasonable satisfaction.

 

(c)                                  In the event that the Expansion Space is not ready for Tenant’s occupancy at the time herein estimated for the beginning of the Term of this Lease, because of any alterations or construction now or hereafter being carried on either to the Expansion Space, the Premises or the Building (unless such alterations are being done by Tenant or Tenant’s contractor, in which case there shall be no suspension or proration of rental or other sums), or because of any restrictions, limitations or delays caused by government regulations or governmental agencies, the Lease and the Term hereof shall not be affected thereby, nor shall Tenant be entitled to make any claim for or receive any damages whatsoever from Landlord.

 

3.                                      EXPANSION SPACE CONSTRUCTION.  Landlord shall construct and do such other work (collectively, the “Landlord’s Work”) in substantial conformity with the plans and outline specifications of the plan prepared by Space Design, Inc. dated June 6, 2000, plan SK 1/0, which have been initialed by the parties, and which are herein incorporated by reference.  If any material revision or supplement to Landlord’s Work is deemed necessary by Landlord, those revisions and supplements shall be submitted to Tenant for approval, which approval shall not be unreasonably withheld or delayed.  If Landlord shall be delayed in such “substantial completion” as a result of (i) Tenant’s request for materials, finishes or installations other than Landlord’s standard; (ii) Tenant’s changes in said plans; (iii) the performance or completion of any work, labor or services by a party employed by Tenant; then the Expansion Space Commencement Date shall be accelerated by the number of days of such delay.  If any change, revision or supplement to the scope of the Landlord’s Work is requested by Tenant or if Tenant fails to provide information or cooperation required by Landlord in connection with Landlord’s Work within the time periods

 

2

 

required (each, a “Tenant’s Delay”) then such occurrence shall not change the Expansion Space Commencement Date and shall not alter Tenant’s obligations under the Lease, as amended hereby and the Expansion Space Commencement Date shall be the date the Expansion Space would have been delivered to Tenant but for Tenant’s Delay.  Tenant shall be solely responsible for all reasonably documented and invoiced expenses which increase the costs incurred in connection with a Tenant requested change in the scope of the Landlord’s Work (including the finishes set forth therein).

 

4.                                      RENT.  Commencing on the Expansion Space Commencement Date, Tenant shall pay to Landlord without notice or demand, and without set-off, the annual Fixed Rent payable in the monthly installments of Fixed Rent as set forth in Section 1(b) above, in advance on the first day of each calendar month during the Term pursuant to the provisions of the Lease as amended.

 

5.                                      RIGHT OF EXPANSION.  Subject to (a) Tenant not being in default now nor Tenant ever having been default under this Lease; and (b) the rights of other existing tenants within the Building from time to time, and subject to such limitations as are imposed by other existing tenant leases, Landlord shall notify Tenant with regard to space that is or Landlord expects to become vacant and available for lease within the second floor of the Building, and Landlord shall propose to Tenant the basic economic terms upon which Landlord would be prepared to entertain the negotiation of a new lease for such space (on all of the same terms and conditions as are set forth in this Lease, except as otherwise specified by Landlord) or an amendment to this Lease with which the parties would add such space to the description of the “Premises,” in either case for a term which would be coterminous with this Lease unless otherwise specified by Landlord, and which economic terms shall include the estimated date that the space shall be available for delivery, the Base Rent and the tenant allowance (if any) to be furnished to Tenant, whereupon Tenant shall have fifteen (15) days next following Landlord’s delivery of such notice within which to accept such terms, time being of the essence.  Should Tenant accept such terms as are specified by Landlord, the parties shall negotiate the terms of a new lease, or an amendment to this Lease, to memorialize their agreement.  In the absence of any further agreement by the parties, such additional space shall be delivered in “AS-IS” condition, and

 

3

 

EXHIBIT “A”

 

SPACE PLAN OF EXPANSION SPACE

 

 

 

 

November 21, 2003

 

Mr. Richard Spotts

Chief Financial Officer

AMERIQUEST TRANSPORTATION

457 Haddonfield Road, Suite 220

Cherry Hill, NJ 08002

 

Re:                             LibertyView, Suites 220 and 530 
 Cherry Hill, New Jersey

 

Dear Mr. Spotts:

 

Enclosed is an executed counterpart of the Third Amendment to Lease for the above-referenced premises for your files.

 

Thank you for your continued tenancy with Brandywine Realty Trust.

 

	
Sincerely,
    	
 
    
	
 
    	
 
    
	
/s/ Donna Dolan Lux
    	
 
    
	
 
    	
 
    
	
Donna Dolan Lux
    	
 
    
	
Leasing & Marketing Enclosure
    	
 
    

 

 

THIRD AMENDMENT TO LEASE

 

This Third Amendment to Lease (the “Amendment”) made and entered into this 5th day of November, 2003, by and between BRANDYWINE REALTY TRUST (“Landlord”) and AMERIQUEST TRANSPORTATION AND LOGISTICS RESOURCES CORP. (“Tenant”).

 

WHEREAS, Landlord and Tenant (formerly known as Amtralease Truck Leasing Services Corp.) have entered into a certain lease dated as of January 14, 1999, as amended by First Amendment to Lease dated May 15, 1999 and Second Amendment to Lease dated August 1, 2000 (collectively, the “Lease”), with respect to certain premises (the “Original Premises”) known as Suite 220, comprised of approximately four thousand, nine hundred seventy-one (4,971) rentable square feet of space located on the second (2nd) floor of the Building known as LibertyView, located at 457 Haddonfield Road, Cherry Hill, New Jersey, such Premises being more particularly described in the Lease.

 

WHEREAS, Landlord and Tenant desire to amend the Lease subject to the terms and conditions of this Amendment.

 

NOW, THEREFORE, in consideration of these presents, and the agreement of each other, and for other good and valuable consideration received, the sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, Landlord and Tenant agree that the said Lease shall be and the same is hereby amended as follows:

 

1.             Incorporation of Recitals.  The recitals set forth above, the Lease referred to therein and the exhibits attached hereto are hereby incorporated herein by reference as if set forth in full in the body of this Amendment.

 

2.             Definitions.  All capitalized terms not otherwise defined in this Amendment shall have the same meaning as in the Lease.  All capitalized terms which are defined herein and used in the Lease shall have the new meaning ascribed to such terms in this Amendment.

 

3.             Lease of Additional Premises.

 

(a)           The Lease is hereby amended to provide that Landlord demises and lets unto Tenant, and Tenant leases and hires from Landlord, all that certain space on the fifth (5th) floor of the Building containing approximately two thousand, five hundred seventy-nine (2,579) square feet of space (the “Additional Premises”), as shown on Exhibit “A-1” and made a part hereof, effective on and as of January 1, 2004 (the “Additional Premises Commencement Date”).  It is the mutual intention of Landlord and Tenant that the Additional Premises shall be leased to and occupied by Tenant on and subject to all of the terms, covenants and conditions of the Lease except as otherwise expressly provided to the contrary in this Amendment, and to that end Landlord and Tenant hereby agree that from and after the Additional Premises Commencement Date the word “Premises”, as defined in the Lease, shall mean and include both the Premises and the Additional Premises, containing a total of seven thousand, five hundred fifty (7,550) rentable square feet, unless the context otherwise requires.

 

(b)           Landlord shall, at Landlord’s expense, on or prior to the Additional Premises Commencement Date, replace the suite entrance door to the Additional Premises with a Herculite glass door, using building standard materials.  Otherwise, Landlord shall have no obligation to

 

 

perform any improvements to the Additional Premises, and Tenant accepts same in their “as is” condition.

 

(c)           From and after the Additional Premises Commencement Date, Tenant’s Allocated Share shall be increased to 6.2%.

 

4.             Term.  The Term of the Lease is hereby extended from the date same would otherwise expire for three (3) years so as to expire on October 31, 2008.

 

5.             Rent.  The Fixed Rent for the Additional Premises only shall be in the following amounts:

 

	
TIME PERIOD
    	
 
    	
PER RSF
    	
 
    	
MONTHLY
   INSTALLMENT
    	
 
    	
ANNUAL
   FIXED RENT
    	
 
    
	
1/1/2004-9/30/2004
    	
 
    	
$22.50, plus electric
    	
 
    	
$
    	
4,835.63
    	
 
    	
$
    	
58,027.50
    	
 
    
	
10/1/2004-10/31/2005
    	
 
    	
$22.75, plus electric
    	
 
    	
$
    	
4,889.35
    	
 
    	
$
    	
58,672.25
    	
 
    
	
11/1/2005-10/31/2006
    	
 
    	
$22.75, plus electric
    	
 
    	
$
    	
4,889.35
    	
 
    	
$
    	
58,672.25
    	
 
    
	
11/1/2006-10/31/2007
    	
 
    	
$23.00, plus electric
    	
 
    	
$
    	
4,943.08
    	
 
    	
$
    	
59,317.00
    	
 
    
	
11/1/2007-10/31/2008
    	
 
    	
$23.25, plus electric
    	
 
    	
$
    	
4,996.81
    	
 
    	
$
    	
59,961.75
    	
 
    

 

Such rental payments are to be made in addition to, and at the same time and in the same manner, as the Fixed Rent payments which are prescribed for the Original Premises under the Lease (as modified hereby).  In addition, during the final thirty-six (36) months of the Term, as extended hereby, the Fixed Rent for the Original Premises shall be in the following amounts:

 

	
TIME PERIOD
    	
 
    	
PER RSF
    	
 
    	
MONTHLY
   INSTALLMENT
    	
 
    	
ANNUAL
   FIXED RENT
    	
 
    
	
11/1/2005-10/31/2006
    	
 
    	
$22.75, plus electric
    	
 
    	
$
    	
9,424.19
    	
 
    	
$
    	
113,090.25
    	
 
    
	
11/1/2006-10/31/2007
    	
 
    	
$23.00, plus electric
    	
 
    	
$
    	
9,527.75
    	
 
    	
$
    	
114,333.00
    	
 
    
	
11/1/2007-10/31/2008
    	
 
    	
$2325, plus electric
    	
 
    	
$
    	
9,631.31
    	
 
    	
$
    	
115,575.75
    	
 
    

 

Tenant shall continue to pay all Additional Rent with respect to the entire Premises during the remainder of the Term as extended hereby in accordance with the currently applicable terms of the Lease.  Notwithstanding anything in the Lease to the contrary, Tenant shall pay to Landlord without notice or demand, and without set-off, the annual Fixed Rent payable in the monthly installments of Fixed Rent as set forth above, in advance on the first day of each calendar month during the Term by either (i) check payable to Landlord and sent to P.O. Box 8538-363, Philadelphia, Pennsylvania 19171; or (ii) wire transfer of immediately available funds to the account at Wachovia Bank, National Association, account no. 2030000359075 with ABA routing number 031201467, such transfer to be confirmed to Brandywine Realty Services Corporation’s accounting department by written facsimile (current fax # 610-325-5622).  All payments and facsimile wire confirmations must include the following information: Building #274 and Lease #             (the Lease number shall be provided to Tenant by Landlord either by notice following the execution hereof or in the Confirmation of Lease Term, if applicable.)

 

6.             Brokerage Commission.  Landlord and Tenant warrant and represent to the other that such party has not dealt with any broker, agent, or other party who might be deemed to be

 

2

 

entitled to a commission or finder’s fee in connection with the transaction contemplated under this Amendment with the exception of Resource Realty and Personal Property Evaluations, Inc., whose commission shall be paid by Landlord pursuant to separate agreement.  Tenant will indemnify, defend, and hold harmless Landlord from and against any claim for a commission or finder’s fee made by any party by, though, or under Tenant, and Landlord will indemnify, defend, and hold harmless Tenant from and against any claim for a commission or finder’s fee made by any party, by, through, or under Landlord.

 

7.             Original Premises Improvements.  Tenant hereby accepts the Original Premises in their current “as is” condition, and Landlord shall have no obligation to perform any improvements thereto.

 

8.             Tenant Representations.  Tenant hereby confirms that (i) the Lease is in full force and effect and Tenant is in possession of the Original Premises; (ii) Landlord has performed all outstanding Tenant Improvements or Landlord’s Work obligations (expect as expressly provided in subsection 3(b) above); and (iii) there are no defaults by Landlord or Tenant under the Lease, (iv) Tenant’s SIC Number is 4212, (v) Tenant’s security deposit is $5,930.42; and (vi) the Expense Stop is $6.50 per rentable square foot.

 

9.             Notices; Payment of Rent.  Notices under the Lease may also be given by facsimile or email, with a copy to follow by first class mail.  For all notice purposes under the Lease, the addresses of Landlord and Tenant shall be as follows:

 

Tenant:                                                     Ameriquest Transportation And Logistics Resources Corp.

Suite 220, LibertyView

457 Haddonfield Road

Cherry Hill, New Jersey 08002

Attn: Douglas Clark

Fax No.:

E-Mail:

 

Landlord:                                          Brandywine Realty Trust

10000 Midlantic Drive, Suite300 West

Mount Laurel, New Jersey 08054

Attn: George D. Johnstone, Vice President

Fax No.: 856-787-1310

E-Mail: gjohnstone@brandywinerealty.com

 

with a copy to:

 

Brandywine Realty Trust

401 Plymouth Road, Suite 500

Plymouth Meeting, Pennsylvania 19462

Attn: Brad A. Molotsky, General Counsel

Fax No.: 610-832-4928

E-Mail: bmolotsky@brandywinerealty.com

 

10.          Nonapplicable Provisions.  Landlord and Tenant acknowledge and agree that Article 35 of the Lease is hereby deleted from the Lease and that those provisions of the Lease

 

3

 

which by their nature applied only to the original letting of the Premises (or any prior extensions) shall not apply to this extension.

 

11.          Conflict; Final Agreement.  Except as specifically set forth herein, all terms and provisions of the Lease (a) are incorporated herein and made a part hereof as if fully set forth herein and (b) shall continue unamended in full force and effect.  In the event of any inconsistencies between the Lease and this Amendment, the terms of this Amendment shall control.

 

IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Amendment on the date first above written.

 

	
WITNESS:
    	
 
    	
 
    	
LANDLORD:
    
	
 
    	
 
    	
 
    	
BRANDYWINE REALTY TRUST
    
	
 
    	
 
    	
 
    	
 
    
	
/s/   [                ]
    	
 
    	
 
    	
By:
    	
/s/ George D. Johnstone
    
	
 
    	
 
    	
 
    	
Name: George D. Johnstone
    
	
 
    	
 
    	
 
    	
Title: Vice President
    
	
 
    	
 
    	
 
    	
 
    
	
ATTEST:
    	
 
    	
 
    	
TENANT:
    
	
 
    	
 
    	
 
    	
AMERIQUEST TRANSPORTATION AND LOGISTICS   RESOURCES CORP.
    
	
 
    	
 
    	
 
    	
 
    
	
/s/   [                ]
    	
 
    	
 
    	
By:
    	
/s/ Richard D. Spotts
    
	
Assistant Secretary
    	
 
    	
 
    	
Name: Richard D. Spotts
    
	
 
    	
 
    	
 
    	
Title: CFO
    

 

4

 

EXHIBIT “A-1”

 

SPACE PLAN

 

 

 

FOURTH AMENDMENT TO LEASE

 

This Fourth Amendment to Lease (the “Amendment”) made and entered into this             day of August, 2008, by and between BRANDYWINE REALTY TRUST (“Landlord”) and AMERIQUEST TRANSPORTATION SERVICES, INC., a New Jersey corporation (“Tenant”).

 

WHEREAS, Landlord and Tenant (formerly known as Amtralease Truck Leasing Services Corp. and then as Ameriquest Transportation and Logistics Resources Corp.) are parties to a certain lease dated as of January 14, 1999, as amended by First Amendment to Lease dated May 15, 1999, as amended by Second Amendment to Lease (sometimes, the “Second Amendment”) dated August 1, 2000, and as amended by Third Amendment to Lease dated November 5, 2003 (collectively, the “Lease”), with respect to certain premises (the “Premises”) known as Suite 220, comprised of approximately 4,971 rentable square feet of space located on the second floor and Suite 530, comprised of approximately 2,579 rentable square feet of space located on the fifth floor, for a total of 7,550 rentable square feet, both being in the Building known as LibertyView, located at 457 Haddonfield Road, Cherry Hill, New Jersey, such Premises being more particularly described in the Lease.

 

WHEREAS, Landlord and Tenant desire to amend the Lease subject to the terms and conditions of this Amendment.

 

NOW, THEREFORE, in consideration of these presents, and the agreement of each other, and for other good and valuable consideration received, the sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, Landlord and Tenant agree that the said Lease shall be and the same is hereby amended as follows:

 

1.             Incorporation of Recitals.  The recitals set forth above, the Lease referred to therein and the exhibits attached hereto are hereby incorporated herein by reference as if set forth in full in the body of this Amendment.

 

2.             Definitions.  All capitalized terms not otherwise defined in this Amendment shall have the same meaning as in the Lease.  All capitalized terms which are defined herein and used in the Lease shall have the new meaning ascribed to such terms in this Amendment.

 

3.             Term.  The Term of the Lease is hereby extended for twelve (12) months commencing on November 1, 2008 and expiring on October 31, 2009.  Notwithstanding anything to the contrary contained herein, upon the Commencement Date of the term of a new Lease executed by Landlord and Tenant for premises owned by Landlord or an affiliate of Landlord, the term of this Lease shall automatically expire.

 

4.             Rent.  The Fixed Rent during the Term as extended hereby shall be in the following amounts, which shall be due and payable in the manner set forth in the Lease:

 

	
TIME PERIOD
    	
 
    	
PER RSF
    	
 
    	
MONTHLY
   INSTALLMENT
    	
 
    	
ANNUAL
   FIXED RENT
    	
 
    
	
11/1/2008 -   10/31/2009
    	
 
    	
$23.25, plus electric
    	
 
    	
$
    	
14,628.13
    	
 
    	
$
    	
175,537.50
    	
 
    
										

 

 

Tenant shall continue to pay all Additional Rent with respect to the Premises during the remainder of the Term as extended hereby in accordance with the currently applicable terms of the Lease.  Notwithstanding anything in the Lease to the contrary, Tenant shall pay to Landlord without notice or demand, and without set-off, the annual Fixed Rent payable in the monthly installments of Fixed Rent as set forth above, in advance on the first day of each calendar month during the Term by either (i) check payable to Landlord and sent to P.O. Box 8538-363, Philadelphia, Pennsylvania 19171; or (ii) wire transfer of immediately available funds to the account at Wachovia Bank, National Association, Account No. 2030000359075 with ABA Routing No. 031201467, such transfer to be confirmed to Brandywine Realty Services Corporation’s accounting department by written facsimile (current fax # 610-832-4928).  All payments and facsimile wire confirmations must include the following information: Building #274 and Lease #             (the Lease number shall be provided to Tenant by Landlord either by notice following the execution hereof or in the Confirmation of Lease Term, if applicable.)

 

5.             Brokerage Commission.  Landlord and Tenant warrant and represent to the other that such party has not dealt with any broker, agent, or other party who might be deemed to be entitled to a commission or finder’s fee in connection with the transaction contemplated under this Amendment, with the exception of Cushman & Wakefield whose commission shall be paid by Landlord pursuant to separate agreement.  Tenant will indemnify, defend, and hold harmless Landlord from and against any claim for a commission or finder’s fee made by any party by, though, or under Tenant, and Landlord will indemnify, defend, and hold harmless Tenant from and against any claim for a commission or finder’s fee made by any party, by, through, or under Landlord.

 

6.             Tenant Improvements.  Tenant hereby accepts the Premises in their current “as is” condition, and Landlord shall have no obligation to perform any improvements thereto.

 

7.             Limited Liability.  Landlord’s obligations hereunder shall be binding upon Landlord only for the period of time that Landlord is in ownership of the Building; and, upon termination of that ownership, Tenant, except as to any obligations which are then due and owing, shall look solely to Landlord’s successor in interest in the Building for the satisfaction of each and every obligation of Landlord hereunder.  Landlord shall have no personal liability under any of the terms, conditions or covenants of this Lease and Tenant shall look solely to the equity of Landlord in the Building of which the Premises form a part for the satisfaction of any claim, remedy or cause of action accruing to Tenant as a result of the breach of any section of this Lease by Landlord.  In addition to the foregoing, no recourse shall be had for an obligation of Landlord hereunder, or for any claim based thereon or otherwise in respect thereof, against any past, present or future trustee, member, partner, shareholder, officer, director, agent or employee of Landlord, whether by virtue of any statute or rule of Iaw, or by the enforcement of any assessment or penalty or otherwise, all such other liability being expressly waived and released by Tenant with respect to the above-named individuals and entities.

 

8.             Tenant Representations.  Tenant hereby confirms that (i) the Lease is in full force and effect and Tenant is in possession of the Premises; (ii) Landlord has performed all outstanding Tenant Improvements or Landlord’s Work obligations; (iii) there are no defaults by Landlord or Tenant under the Lease; (iv) Tenant’s NAICS Number is 484; (v) Tenant’s security deposit is 55,930.42; (vi) the Expense Stop is $6.50 per rentable square foot; and (vii) Tenant’s Allocated Share is 6.2%.

 

2

 

9.             Notices; Payment of Rent.  For all notice purposes under the Lease, the addresses of Landlord and Tenant shall be as follows:

 

Landlord:                                                                                                                                          Brandywine Operating Partnership, L.P.

10000 Midlantic Drive, Suite300 West

Mount Laurel, NJ 08054

Attn: George D. Sawa, Executive Vice-President

Fax No.: 856-787-1310

E-Mail: george.sowa@bdnreit.com

 

with a copy to:                                                                                                               Brandywine Realty Trust

555 East Lancaster Avenue, Suite 100

Radnor, PA 19087

Attn: Brad A.  Molotsky, General Counsel

Fax No.: 610-832-4928

E-Mail: brad.molotsky@bdnreit.com

 

Tenant:                                                                                                                                                     Ameriquest Transportation and 
 Logistics Resources, Inc.

457 Haddonfield Road, Suite 220

Cherry Hill, NJ 08002

Attn: Douglas W.  Clark

Fax No.: 856-773-0809

E-Mail:

 

10.          OFAC Representation.  Tenant represents, warrants and covenants that neither Tenant nor any of its partners, officers, directors, members or shareholders (i) is listed on the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Asset Control, Department of the Treasury (“OFAC”) pursuant to Executive Order No. 13224, 66 Fed. Reg. 49079 (Sept. 25, 2001) (“Order” ) and all applicable provisions of Title III of the USA Patriot Act (Public Law No. 107-56 (October 26, 2001)); (ii) is listed on the Denied Persons List and Entity List maintained by the United States Department of Commerce; (iii) is listed on the List of Terrorists and List of Disbarred Parties maintained by the United States Department of State; (iv) is listed on any list or qualification of “Designated Nationals” as defined in the Cuban Assets Control Regulations 31 C.F.R. Part 515; (v) is listed on any other publicly available list of terrorists, terrorist organizations or narcotics traffickers maintained by the United States Department of State, the United States Department of Commerce or any other governmental authority or pursuant to the Order, the rules and regulations of OFAC (including without limitation the Trading with the Enemy Act, 50 U.S.C. App. 1-44; the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701-06; the unrepealed provision of the Iraq Sanctions Act, Publ. L. No. 101-513; the United Nations Participation Act, 22 U.S.C. § 2349 as-9; The Cuban Democracy Act, 22 U.S.C. §§ 60-01-10; The Cuban Liberty and Democratic Solidarity Act, 18 U.S.C. §§ 2332d and 233; and The Foreign Narcotic Kingpin Designation Act, Publ. L. No. 106-120 and 107-108, all as may be amended from time to time); or any other applicable requirements contained in any enabling legislation or other Executive Orders in respect of the Order (the Order and such other rules, regulations, legislation or orders are collectively called the “Orders”); (vi) is engaged in activities prohibited in the Orders; or (vii) has been convicted, pleaded nolo contendere, indicted, arraigned or custodially detained on charges involving money laundering or predicate crimes to money laundering, drug trafficking, terrorist-related activities or other money laundering predicate crimes or in connection with the Bank Secrecy Act (31 U.S.C. §§ 5311 et seq.).  Tenant hereby agrees to

 

3

 

defend, indemnify, and hold harmless Landlord from and against any and all claims, damages, losses, risks, liabilities, and expenses (including attorneys fees and costs) arising from or related to any breach of the foregoing representation, warranty and covenant.  The breach of this representation, warranty and covenant by Tenant shall be an immediate Event of Default under this Lease without cure.

 

11.          Rules and Regulations.  Landlord and Tenant acknowledge and agree that Exhibit “C” attached to the Lease is hereby deleted, and replaced with the Exhibit “C-1” attached hereto and made a part hereof.

 

12.          Cleaning Specifications.  Landlord and Tenant acknowledge and agree that Exhibit “D” attached to the Lease is hereby deleted, and replaced with the Exhibit “D-1” attached hereto and made a part hereof.

 

13.          Nonapplicable Provisions.  Landlord and Tenant acknowledge and agree that Paragraph 5 of the Second Amendment is hereby deleted from the Lease and that those provisions of the Lease which by their nature applied only to the original letting of the Premises (or any prior extensions) shall not apply to this extension.

 

14.          NAICS Code.  All reference in the Lease to SIC numbers or SIC codes are hereby changed to NAICS numbers or NAICS codes.  Tenant represents that Tenant’s NAICS number is as provided in Paragraph 8(iv) above.  Paragraph 9(b)(i) and Paragraphs 9(v) and 9(vi) of the Lease are hereby deleted and the following Paragraphs inserted in lieu thereof:

 

“(b)         Industrial Site Recovery Act

 

(i)            Tenant represents and warrants that Tenant’s NAICS Number as designated by the Executive Office of the President, Office of Management and Budget, and as set forth in this Lease, is correct.  Tenant represents that the specific activities intended to be carried on in the Premises are in accordance with Article 1(j) and Tenant covenants and agrees that it will not do or suffer anything which will cause its NAICS Number (or that of any assignee or subtenant) to fall within any of the ISRA Subject NAICS Codes listed in Appendix C to the Regulations adopted pursuant to ISRA (subject to the specified exceptions and limitations) as same may be revised, modified, supplemented and/or amended from time to time during the Term (and any exercised renewal term) hereof (collectively, the “Covered Numbers” ).  Tenant further covenants and agrees to notify Landlord at least thirty (30) days prior to any change of facts which would result in the change of Tenant’s NAICS number from its present number to any of the Covered Numbers.  Upon such notice, Landlord shall have the right, at its option, to terminate this Lease within thirty (30) days of receipt of such notice by notifying Tenant in writing.

 

(v)           In the event that Tenant is not obligated to comply with Article 9(b)(iii) for any reason, including without limitation the inapplicability of ISRA to Tenant, then prior to the expiration or sooner termination of this Lease or any subletting of any portion of the Premises, Tenant shall, at Tenant’s expense, and at Landlord’s option:

 

(1)           Provide an affidavit of Tenant in form and content satisfactory to Landlord (the “Non-Applicability Statement”) confirming that the proposed termination, assignment or subletting is not subject to the requirements of ISRA.  Any representation or certification made by Tenant in connection with such Non-Applicability Statement shall constitute a

 

4

 

representation and warranty by Tenant in favor of Landlord and any misrepresentation or breach of warranty contained therein shall constitute a default under this Lease.

 

(2)           If reasonably indicated by a reputable environmental consultant engaged by Landlord, at Landlords expense, Tenant shall remove “hazardous waste” or “hazardous waste” attributable to Tenants occupancy at the Premises in a manner which complies with NIDEP requirements under ISRA, at Tenant’s expense, as if ISRA applied to Tenant and/or the Premises.

 

(vi)          In the event Tenant is obligated, under this Article or otherwise, to perform and/or cooperate in performing any ISRA obligations and/or obtain and/or cooperate in obtaining any ISRA approval, by way of a Non-Applicability Statement, “negative declaration”, the performance of an approved remedial action work plan, the obtaining of a no further action letter, the performance under a remediation agreement and/or otherwise (collectively the “ISRA Obligations”) and, prior to fully performing such ISRA Obligations, there occurs the scheduled expiration of the Term of this Lease or any other termination of this Lease (collectively, a “Lease Termination”), and in the event (i) Landlord is obligated to deliver possession to a new tenant and (ii) Landlord is prevented from being able to deliver lawful possession because of such failure of Tenant to fully perform same, then Tenant shall, following such Lease Termination, pay, at the time and in the manner Fixed Rent payments were due during the term, an amount equal to: (i) Fixed Rent at twice the rate in effect immediately prior to such Lease Termination; and (ii) Additional Rent as provided under the Lease until such time as ail such ISRA Obligations have been fully completed.”

 

15.          No Offer.  The submission of this Amendment by Landlord to Tenant for examination does not constitute a reservation of or option for the Premises or of any other space within the Building or in other buildings owned or managed by Landlord or its affiliates or any right to renew or extend the term of the Lease.  This Amendment shall become effective only upon the execution and legal delivery thereof by both parties hereto.

 

16.          Conflict; Final Agreement.  Except as specifically set forth herein, all terms and provisions of the Lease (a) are incorporated herein and made a part hereof as if fully set forth herein and (b) shall continue unamended in full force and effect.  In the event of any inconsistencies between the Lease and this Amendment, the terms of this Amendment shall control.

 

5

 

IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Amendment on the date first above written.

 

	
WITNESS:
    	
 
    	
 
    	
LANDLORD:
    
	
 
    	
 
    	
 
    	
BRANDYWINE REALTY TRUST
    
	
 
    	
 
    	
 
    	
 
    
	
/s/   [                ]
    	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    	
Name: George D. Sowa
    
	
 
    	
 
    	
 
    	
Title: Executive Vice President
    
	
 
    	
 
    	
 
    	
 
    
	
WITNESS/ATTEST:
    	
 
    	
 
    	
TENANT:
    
	
 
    	
 
    	
 
    	
AMERIQUEST TRANSPORTATION SERVICES, INC.
    
	
 
    	
 
    	
 
    	
A New Jersey corporation
    
	
 
    	
 
    	
 
    	
 
    
	
/s/   [                ]
    	
 
    	
 
    	
By:
    	
/s/ Richard D. Spotts
    
	
 
    	
 
    	
 
    	
Name: Richard D. Spotts
    
	
 
    	
 
    	
 
    	
Title: VP of Operations and Administration
    

 

WITHOUT LIMITING THE PROVISIONS OF PARAGRAPH 15 ABOVE, IF THIS LEASE IS NOT SIGNED BY TENANT BY AUGUST 31, 2008, IT WILL AUTOMATICALLY BECOME NULL AND VOID.

 

6

 

EXHIBIT “C-1”

 

BUILDING RULES AND REGULATIONS 

LAST REVISION: March 8, 2007

 

Landlord reserves the right to rescind any of these rules and make such other and further rules and regulations as in the judgment of Landlord shall from time to time be needed for the safety, protection, care and cleanliness of the Project, the operations thereof, the preservation of good order therein and the protection and comfort of its tenants, their agents, employees and invitees, which rules when made and notice Thereof given to Tenant shall be binding upon him, her or it in a like manner as if originally prescribed.

 

1.                                      Sidewalks, entrances, passages, elevators, vestibules, stairways, corridors, halls, lobby and any other part of the Building shall not be obstructed or encumbered by any Tenant or used for any purpose other than ingress or egress to and from each tenant’s premises.  Landlord shall have the right to control and operate the common portions of the Building and exterior facilities furnished for common use of the tenants (such as the eating, smoking, and parking areas) in such a manner as Landlord deems appropriate.

 

2.                                      No awnings or other projections shall be attached to the outside walls of the Building without the prior written consent of Landlord.  All drapes, or window blinds, must be of a quality, type and design, color and attached in a manner approved by Landlord.

 

3.                                      No showcases or other articles shall be put in front of or affixed to any part of the exterior of the Building, or placed in hallways or vestibules without prior written consent of Landlord.

 

4.                                      Rest rooms and other plumbing fixtures shall not be used for any purposes other than those for which they were constructed and no debris, rubbish, rags or other substances shall be thrown therein.  Only standard toilet tissue may be flushed in commodes.  All damage resulting from any misuse of these fixtures shall be the responsibility of the tenant who, or whose employees, agents, visitors, clients, or licensees shall have caused same.

 

5.                                      No tenant, without the prior consent of Landlord, shall mark, paint, drill into, bore, cut or string wires or in any way deface any part of the Premises or the Building of which they form a part except for the reasonable hanging of decorative or instructional materials on the walls of the Premises.

 

6.                                      Tenants shall not construct or maintain, use or operate in any part of the project any electrical device, wiring or other apparatus in connection with a loud speaker system or other sound/communication system which may be heard outside the Premises.  Any such communication system to be installed within the Premises shall require prior written approval of Landlord.

 

7.                                      No bicycle, mopeds, skateboards, scooters or other vehicles and no animals, birds or other pets of any kind shall be brought into or kept in or about the Building.

 

8.                                      No tenant shall cause or permit any unusual or objectionable odors to be produced upon or permeate from its premises.

 

 

9.                                      No space in the Building shall be used for the manufacture of goods for sale in the ordinary course of business, or for sale at auction of merchandise, goods or property of any kind.

 

10.                               No tenant, or employees of tenant, shall make any unseemly or disturbing noises or disturb or interfere with the occupants of this or neighboring buildings or residences by voice, musical instrument, radio, talking machines, whistling, singing, or in any way.  All passage through the Building’s hallways, elevators, and main lobby shall be conducted in a quiet, business-like manner.  Rollerblading and Roller-skating shall not be permitted in the Building or in the common areas of the Project.

 

11.                               No tenant shall throw anything out of the doors, windows, or down corridors or stairs of the Building.

 

12.                               Tenant shall not place, install or operate on the Premises or in any part of the Project, any engine, stove or machinery or conduct mechanical operations or cook thereon or therein (except for coffee machine, microwave oven, toasters and/or vending machine), or place or use in or about the Premises or Project any explosives, gasoline, kerosene oil, acids, caustics or any other flammable, explosive, or hazardous material without prior written consent of Landlord.

 

13.                               No smoking is permitted in the Building, including but not limited to the Premises, rest rooms, hallways, elevators, stairs, lobby, exit and entrances vestibules, sidewalks, parking lot area except for the designated exterior smoking area.  All cigarette ashes and butts are to be deposited in the containers provided for same, and not disposed of on sidewalks, parking lot areas, or toilets within the Building rest rooms.

 

14.                               Tenants are not to install any additional locks or bolts of any kind upon any door or window of the Building without prior written consent of Landlord.  Each tenant must, upon the termination of tenancy, return to the Landlord all keys for the Premises, either furnished to or otherwise procured by such tenant, and all security access cards to the Building.

 

15.                               All doors to hallways and corridors shall be kept closed during business hours except as they may be used for ingress or egress.

 

16.                               Tenant shall not use the name of the Building, Landlord or Landlord’s Agent in any way in connection with his business except as the address thereof.  Landlord shall also have the right to prohibit any advertising by tenant, which, in its sole opinion, tends to impair the reputation of the Building or its desirability as a building for offices, and upon written notice from Landlord, tenant shall refrain from or discontinue such advertising.

 

17.                               Tenants must be responsible for all Security Access cards issued to them, and to secure the return of same from any employee terminating employment with them.  Lost cards shall cost $35.00 per card to replace.  No person/company other than Building tenants and/or their employees may have Security Access cards unless Landlord grants prior written approval.

 

18.                               All deliveries by vendors, couriers, clients, employees or visitors to the Building which involve the use of a hand cart, hand truck, or other heavy equipment or device must be made via the Freight Elevator.  Tenant shall be responsible to Landlord for any loss or damage resulting from any deliveries made by or for tenant to the Building.  Tenant shall procure and deliver a certificate of insurance from tenant ‘s movers which certificate shall name Landlord as an additional insured.

 

2

 

19.                               Landlord reserves the right to inspect all freight to be brought in to the Building, and to exclude from the Building all freight or other material which violates any of these rules and regulations.

 

20.                               Tenant will refer all contractors, contractor’s representatives and installation technicians, rendering any service on or to the premises for tenant, to Landlord for Landlord’s approval and supervision before performance of any contractual service or access to Building.  This provision shall apply to all work performed in the Building including installation of telephones, telegraph equipment, electrical devices and attachments and installations of any nature affecting floors, walls, woodwork, trim, windows, ceilings, equipment or any other physical portion of the Building.  Landlord reserves right to require that all agents of contractors/vendors sign in and out of the Building.

 

21.                               Landlord reserves the right to exclude from the Building at all times any person who is not known or does not properly identify himself to Landlord’s management or security personnel.

 

22.                               Landlord may require, at its sole option, all persons entering the Building after 6 PM or before 7 AM, Monday through Friday and at any time on Holidays, Saturdays and Sundays, to register at the time they enter and at the time they leave the Building.

 

23.                               No space within the Building, or in the common areas such as the parking lot, may be used at any time for the purpose of lodging, sleeping, or for any immoral or illegal purposes.

 

24.                               No employees or invitees of tenant shall use the hallways, stairs, lobby, or other common areas of the Building as lounging areas during “breaks” or during lunch periods.

 

25.                               No canvassing, soliciting or peddling is permitted in the Building or its common areas by tenants, their employees, or other persons.

 

26.                               No mats, trash, or other objects shall be placed in the public corridors, hallways, stairs, or other common areas of the Building.

 

27.                               Tenant must place all recyclable items of cans, bottles, plastic and office recyclable paper in appropriate containers provided by Landlord in each tenant’s space.  Removal of these recyclable items will be by Landlord’s janitorial personnel.

 

28.                               Landlord does not maintain suite finishes which are non-standard, such as kitchens, bathrooms, wallpaper, special lights, etc.  However, should the need arise for repair of items not maintained by Landlord, Landlord at its sole option, may arrange for the work to be done at tenant’s expense.

 

29.                               Drapes installed by tenant, which are visible from the exterior of the Building, must be cleaned by Tenant, at its own expense, at least once a year.

 

30.                               No pictures, signage, advertising, decals, banners, etc. are permitted to be placed in or on windows in such a manner as they are visible from the exterior, without the prior written consent of Landlord.

 

31.                               Tenant or tenant’s employees are prohibited at any time from eating or drinking in hallways, elevators, rest rooms, lobby or lobby vestibules.

 

3

 

32.                               Tenant shall be responsible to Landlord for any acts of vandalism performed in the Building by its employees, agents, invitees or visitors.

 

33.                               No tenant shall permit the visit to its Premises of persons in such numbers or under such conditions as to interfere with the use and enjoyment of the entrances, hallways, elevators, lobby or other public portions or facilities of the Building and exterior common areas by other tenants.

 

34.                               Landlord’s employees shall not perform any work or do anything outside of their regular duties unless under special instructions from Landlord.  Requests for such requirements must be submitted in writing to Landlord.

 

35.                               Tenant agrees that neither tenant nor its agents, employees, licensees or invitees will interfere in any manner with the installation and/or maintenance of the heating, air conditioning and ventilation facilities and equipment.

 

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

 

37.                               Landlord will not permit entrance to tenant’s Premises by use of pass key controlled by Landlord, to any person at any time without written permission of tenant, except employees, contractors or service personnel supervised or employed by Landlord.

 

38.                               Tenant and its agents, employees and invitees shall observe and comply with the driving and parking signs and markers on the Building grounds and surrounding areas.

 

39.                               Tenant and its employees, invitees, agents, etc. shall not enter other separate tenants’ hallways, restrooms or premises unless they have received prior approval from Landlord’s management.

 

40.                               Tenant shall not use or permit the use of any portion of the Premises for outdoor storage.

 

41.                               Tenant shall not place a weight load within the premises, which exceeds the load per square foot design of the building.  Tenant shall, prior to any intended installation, obtain information relative to Tenant’s building and obtain Landlord’s prior written approval to do so.

 

42.                               Tenant shall not waste any utility provided by Landlord and agrees to cooperate fully to assure the most effective operation of the building’s heating and air conditioning systems and to comply with any governmental energy savings rules, laws and regulations of which Tenant has actual notice.

 

***********

 

4

 

EXHIBIT “D-1”

 

OFFICE CLEANING SPECIFICATIONS

 

DAILY

Empty Trash and Recycle

Remove Spots/Spills from Carpet

Remove Visible Debris/Litter from Carpet

Spot Clean Desks and Tables

Straighten Chair — Furniture

Turn Off Lights

 

WEEKLY

Dust Desks and Computer Monitors

Vacuum Carpet

Clean Wastebaskets

Clean Light Fixtures and Vents

Clean Telephones

Clean Walls, Switch Plates and Baseboards

Dust File Cabinets, Partitions and Bookshelves

Clean Chairs

Clean Doors

Clean Tables

Dust Pictures and Surfaces Over 5’

Dust Window Sills, Ledges and Radiators

Spot Clean Side Light Glass

 

RESTROOM CLEANING SPECIFICATIONS

 

DAILY

Sinks

Floors

Counters

Trash Receptacle

Toilet/Urinals

Dispensers

Door

Spot Clean Walls

Spot Clean Partitions

 

WEEKLY

Dust Lights

Dust Surfaces Over 5’

Ceiling Vents

Clean Walls

Clean Partitions

 

 

FLOOR CARE SPECIFICATIONS

 

DAILY

Spot Clean Carpet

 

WEEKLY

Burnish Polished Surfaces

 

MONTHLY

Machine Scrub Restroom Floors

Scrub and Recoat Copy Room Floors

Scrub and Recoat Kitchenette Floors

 

ONCE EVERY FOUR MONTHS

Shampoo Conference Room Carpets

 

YEARLY

Strip and Refinish all vinyl tile

 

THESE SPECIFICATIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE.

THE COST FOR ANY CLEANING OVER AND ABOVE THE STANDARD CLEANING SPECIFICATIONS IS TO BE BORNE BY THE TENANT.

 

10/05

 

2

 

 

 

August 13, 2009

 

Mr. Douglas Clark

Ameriquest Transportation Services, Inc.

457 Haddonfield Rood, Suite 220

Cherry Hill, NJ 08002

 

RE:                          LibertyView, Suite 220 Cherry Hill, 
 New Jersey

 

Dear Mr. Clark:

 

Enclosed is a fully executed counterpart of the Fifth Amendment to Lease for the above-referenced premises for your files.

 

Thank you for your tenancy with Brandywine Realty Trust.

 

Sincerely,

 

	
/s/ Donna Dolan Lux
    	
 
    

 

Donna Dolan Lux

Leasing & Marketing

 

/k

Enclosure

 

 

 

FIFTH AMENDMENT TO LEASE

 

This Fifth Amendment to Lease (the “Amendment”) made and entered into this 31st day of July, 2009, by and between BRANDYWINE REALTY TRUST (“Landlord”) and AMERIQUEST TRANSPORTATION SERVICES, INC., a New Jersey corporation (“Tenant”).

 

WHEREAS, Landlord and Tenant (formerly known as Amtralease Truck Leasing Services Corp. and then as Ameriquest Transportation and Logistics Resources Corp.) are parties to a certain lease dated as of January 14, 1999, as amended by First Amendment to Lease dated May 15, 1999, as amended by Second Amendment to Lease (sometimes, the “Second Amendment”) dated August 1, 2000, as amended by Third Amendment to Lease dated November 5, 2003, and as amended by Fourth Amendment to Lease dated August 31, 2008 (collectively, the “Lease”), with respect to certain premises (the “Original Premises”) known as Suite 220, comprised of approximately 4,971 rentable square feet of space located on the second floor (the “Existing Second Floor Premises”) and Suite 530, comprised of approximately 2,579 rentable square feet of space located on the fifth floor (the “Surrender Premises”), for a total of 7,550 rentable square feet, both being in the Building known as LibertyView, located at 457 Haddonfield Road, Cherry Hill, New Jersey (the “Building”), such Premises being more particularly described in the Lease.

 

WHEREAS, Landlord and Tenant desire to amend the Lease subject to the terms and conditions of this Amendment.

 

NOW, THEREFORE, in consideration of these presents, and the agreement of each other, and for other good and valuable consideration received, the sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, Landlord and Tenant agree that the said Lease shall be and the same is hereby amended as follows:

 

1.                                      Incorporation of Recitals.  The recitals set forth above, the Lease referred to therein and the exhibits attached hereto are hereby incorporated herein by reference as if set forth in full in the body of this Amendment.

 

2.                                      Definitions.  All capitalized terms not otherwise defined in this Amendment shall have the same meaning as in the Lease.  All capitalized terms which are defined herein and used in the Lease shall have the new meaning ascribed to such terms in this Amendment.

 

3.                                      Lease of Additional Premises.

 

(a)                                 The Lease is hereby amended to provide that Landlord hereby demises and lets unto Tenant, and Tenant hereby leases and hires from Landlord, all that certain space on the second floor of the Building containing approximately four thousand two hundred thirty-four (4,234) rentable square feet of space, known as Suite 200 (the “Additional Premises”) to be incorporated into the Premises, all as shown on Exhibit “A-1” and made a part hereof.  The term of the Lease for the Additional Premises shall commence on the Additional Premises Commencement Date (as hereafter defined).  In addition, effective as of the Additional Premises Commencement Date, the Lease is hereby amended by changing the Premises to exclude the Surrender Premises.  It is the mutual intention of Landlord and Tenant that the Additional Premises shall be leased to and occupied by Tenant on and subject to all of the terms, covenants and conditions of the Lease except as otherwise expressly provided to the contrary in this Amendment, and to that end Landlord

 

 

and Tenant hereby agree that from and after the Additional Premises Commencement Date the word “Premises”, as defined in the Lease, shall mean and include both the Existing Second Floor Premises and the Additional Premises (but excluding the Surrender Premises), containing a total of nine thousand two hundred five (9,205) rentable square feet, unless the context otherwise requires, and except as specifically provided herein.

 

(b)                                 The term of the Lease for the Additional Premises shall commence upon the date (“Additional Premises Commencement Date”) which is the later of (i) November 1, 2009; or (ii) the date of substantial completion of the Landlord’s Work (as hereinafter defined).  The Additional Premises shall be deemed substantially completed when the Landlord’s Work has been completed to the extent that the Additional Premises may be occupied by Tenant for its Permitted Uses, subject only to completion of minor finishing, adjustment of equipment, and other minor construction aspects, and Landlord has procured a temporary or permanent certificate of occupancy permitting the occupancy of the Additional Premises.  Landlord shall use all commercially reasonable efforts to cause Landlord’s Work to endeavor to be substantially completed by December 1, 2009.

 

(c)                                  Landlord, at its sole cost and expense, shall construct and perform certain work to the Additional Premises outlined on Exhibit “A-1” (collectively, the “Landlord’s Work”), utilizing building standard materials and finishes unless otherwise specified.  Tenant shall be solely responsible for all reasonably documented and invoiced costs and expenses (including without limitation Landlord’s construction management fees not to exceed five (5%) percent) suffered or incurred in connection with Landlord’s Work to the extent caused by any delay caused by Tenant or otherwise due to any change in the scope of the Landlord Work (including any change from building standard materials or finishes) other than those required solely by Landlord, all of which shall be paid by Tenant to Landlord within thirty (30) days of delivery of an invoice and reasonable documentation therefor.

 

(d)                                 Upon substantial completion of the Landlord’s Work, Landlord and Tenant shall schedule an inspection of the Additional Premises at which time a punchlist of outstanding items, if any, shall be prepared.  Landlord shall use reasonable efforts to complete the items on the punchlist within thirty days, or if the nature of the items requires additional time, within such additional time as is reasonably necessary.  In addition, Landlord shall correct any latent defects of which Tenant shall give Landlord notice within a six (6) month period following the Additional Premises Commencement Date.

 

(e)                                  The Additional Premises Commencement Date shall be confirmed by Landlord and Tenant by the execution of a Confirmation of Lease Term in the form attached hereto as Exhibit “B-1”.  If the Additional Premises is substantially completed as required hereunder and Tenant fails to execute or object to the Confirmation of Lease Term within ten (10) business days of its delivery, Landlord’s determination of such dates shall be deemed accepted.

 

(f)                                   From and after the Additional Premises Commencement Date, Tenant’s Allocated Share shall be deemed to be seven and fifty-six one-hundredths (7.56%) percent (i.e., 9,205 rentable square feet of Premises/121,737 rentable square feet of Building).

 

(g)                                  Tenant shall remain in possession of, and the Lease shall remain in full force and effect with respect to, the Surrender Premises, until the Additional Premises Commencement Date occurs.  Tenant shall surrender possession of, and redeliver to Landlord, the Surrender Premises on the Additional Premises Commencement Date in the condition required for surrender

 

2

 

and redelivery at the expiration of the term of the Lease.  In the event Tenant fails to do so, Tenant shall be deemed a holdover Tenant with respect to such Surrender Premises and Landlord shall be entitled to exercise all rights and remedies provided under the Lease or at law and in equity with respect thereto.

 

4.                                      Term.  The Term of the Lease is hereby extended for eighty-six (86) months commencing on the Additional Premises Commencement Date.

 

5.                                      Rent.  Prior to the Additional Premises Commencement Date, Tenant shall continue to pay the Fixed Rent in accordance with the Lease.  From and after the Additional Premises Commencement Date, Tenant shall pay Fixed Rent for the Premises in the following amounts:

 

	
TIME PERIOD (Month)
    	
 
    	
PER RSF
    	
 
    	
MONTHLY
   INSTALLMENT
    	
 
    	
ANNUAL
   FIXED RENT
    	
 
    
	
Month 1* - 2
    	
 
    	
$
    	
- 0 -
    	
 
    	
$
    	
- 0 -
    	
 
    	
$
    	
- 0 -
    	
 
    
	
Month 3 - 14
    	
 
    	
$
    	
13.00
    	
**
    	
$
    	
9,972.08
    	
 
    	
$
    	
119,665.00
    	
 
    
	
Month 15 - 26
    	
 
    	
$
    	
13.50
    	
**
    	
$
    	
10,355.63
    	
 
    	
$
    	
124,267.50
    	
 
    
	
Month 27 - 38
    	
 
    	
$
    	
14.00
    	
**
    	
$
    	
10,739.17
    	
 
    	
$
    	
128,870.00
    	
 
    
	
Month 39 - 50
    	
 
    	
$
    	
14.50
    	
**
    	
$
    	
11,122.71
    	
 
    	
$
    	
133,472.50
    	
 
    
	
Month 51 - 62
    	
 
    	
$
    	
15.00
    	
**
    	
$
    	
11,506.25
    	
 
    	
$
    	
138.075.00
    	
 
    
	
Month 63 - 74
    	
 
    	
$
    	
15.50
    	
**
    	
$
    	
11,889.79
    	
 
    	
$
    	
142,677.50
    	
 
    
	
Month 75 - 86
    	
 
    	
$
    	
16.00
    	
**
    	
$
    	
12,273.33
    	
 
    	
$
    	
147,280.00
    	
 
    

 

*Additional Premises Commencement Date

**Plus Additional Rent and Electric

 

(a)                                 Tenant shall continue to pay all Additional Rent with respect to the Premises during the remainder of the Term as extended hereby in accordance with the currently applicable terms of the Lease (as amended hereby).

 

(b)                                 Notwithstanding anything in the Lease to the contrary, Tenant shall pay to Landlord without notice or demand, and without set-off, the annual Fixed Rent payable in the monthly installments of Fixed Rent as set forth above, in advance on the first day of each calendar month during the Term by either (i) check payable to Landlord and sent to P.O. Box 8538-363, Philadelphia, Pennsylvania 19171; or (ii) wire transfer of immediately available funds to the account at Wachovia Bank, National Association, Account No. 2030000359075 with ABA Routing No. 031201467, such transfer to be confirmed to Brandywine Realty Services Corporation’s accounting department by written facsimile (current fax # 610-832-4928).  All payments and facsimile wire confirmations must include the following information: Building #274 and Lease #             (the Lease number shall be provided to Tenant by Landlord either by notice following the execution hereof or in the Confirmation of Lease Term, if applicable.)

 

6.                                      Renewal.  All other rights to renew or extend the term of the Lease are hereby rendered null and void and of no further force or effect.  Provided Tenant is neither in default at the time of exercise nor has Tenant ever been in default (irrespective of the fact that Tenant cured such default) of any monetary obligations under this Lease more than twice during the Term and such monetary default aggregates in excess of $20,000.00, and Tenant is fully occupying the Premises and the Lease is in full force and effect, Tenant shall have the right to renew this Lease for one term of five (5) years beyond the end of the Term (the “Renewal Term”).  Tenant shall furnish written

 

3

 

notice of intent to renew nine (9) months prior to the expiration of the Term, failing which, such renewal right shall be deemed waived; time being of the essence.  The terms and conditions of this Lease during the Renewal Term shall remain unchanged except that the Annual Fixed Rent for the Renewal Term shall be the Fair Market Rent (as such term is hereinafter defined).  All factors regarding Additional Rent shall remain unchanged, and no Tenant Allowance shall be included in the absence of further agreement by the parties.  Anything herein contained to the contrary notwithstanding, Tenant shall have no right to renew the Term hereof other than or beyond the one term of five (5) years hereinabove described.  Landlord and Tenant shall use all commercially reasonable efforts to execute not less than six (6) months prior to the expiration of the then expiring term hereof, an appropriate amendment to this Lease, in form and content satisfactory to each of them, memorializing the extension of the Term hereof for the Renewal Term.

 

For purposes of this Lease, “Fair Market Rent” shall mean the base rent, for comparable space.  In determining the Fair Market Rent, Landlord, Tenant and any appraiser shall take into account applicable measurement and loss factors, applicable lengths of lease term, differences in size of the space demised, the location of the Building and comparable buildings, amenities in the Building and comparable buildings, the ages of the Building and comparable buildings, differences in base years or stop amounts for operating expenses and tax escalations and other factors normally taken into account in determining Fair Market Rent.  The Fair Market Rent shall reflect the level of improvement made or to be made by Landlord to the space and the Recognized Expenses and Taxes under this Lease.  If Landlord and Tenant cannot agree on the Fair Market Rent, the Fair Market Rent shall be established by the following procedure: (1) Tenant and Landlord shall agree on a single MAI certified appraiser who shall have a minimum of ten (10) years experience in real estate leasing in the market in which the Premises is located; (2) Landlord and Tenant shall each notify the other (but not the appraiser), of its determination of such Fair Market Rent and the reasons therefore; (3) during the next seven (7) days both Landlord and Tenant shall prepare a written critique of the other’s determination and shall deliver it to the other party; (4) on the tenth (10th) day following delivery of the critiques to each other, Landlord’s and Tenant’s determinations and critiques (as originally submitted to the other party, with no modifications whatsoever) shall be submitted to the appraiser, who shall decide whether Landlord’s or Tenant’s determination of Fair Market Rent is more correct.  The determinations so chosen shall be the Fair Market Rent.  The appraiser shall not be empowered to choose any number other than the Landlord’s or Tenant’s.  The fees of the appraiser shall be paid by the non-prevailing party.

 

7.                                      Right of Expansion.  All other rights with respect to the expansion of the Premises are hereby rendered null and void and of no further force or effect.  Subject to (a) Tenant not being in default at the time of exercise nor Tenant ever being in default (irrespective of the fact that Tenant cured such default) of any monetary obligations under this Lease more than twice during the Term and such monetary defaults aggregate in excess of $20,000.00; (b) Tenant occupying not less than one hundred (100%) percent of the Premises; (c) there being at least two (2) years remaining of the Term of this Lease (to include any exercised Renewal Periods only); (d) the rights of other tenants within any premises on the second floor of the Building from time to time; and (e) such limitations as are imposed by other tenant leases, then if Tenant shall request from Landlord whether such premises on the second floor in the Building is to become vacant and available for lease, and Landlord determines that there are such premises on the second floor of the Building, Landlord shall propose to Tenant the fair market material business terms upon which Landlord would be prepared to entertain the negotiation of a new lease for such space (on all of the same terms and conditions as are set forth in this Lease, except as otherwise specified by Landlord) or an amendment to this Lease with which the parties would add such space to the description of the “Premises,” in either case for a term which would be coterminous with this Lease

 

4

 

unless otherwise agreed to by Landlord and Tenant, and which economic terms shall include the estimated date that the space shall be available for delivery, the Fixed Rent and the tenant allowance (if any) to be furnished to Tenant, whereupon Tenant shall have five (5) business days next following Landlord’s delivery of such notice within which to accept such terms, time being of the essence.  Should Tenant accept such terms as are specified by Landlord, the parties shall negotiate the terms of a new lease, or an amendment to this Lease, to memorialize their agreement.  In the absence of any further agreement by the parties, such additional space shall be delivered in “AS-IS” condition, and Rent for such additional space shall commence on that date which is the earlier of: (x) Tenant’s occupancy thereof, and (y) five (5) days after Landlord delivers such additional space to Tenant free of other tenants and occupants and in such condition so that it may be lawfully occupied by Tenant for its Permitted Uses.  If Tenant shall not accept Landlord’s terms within such ten (10)-day period, or if the parties shall not have executed and delivered a mutually satisfactory new lease or lease amendment within thirty (30) days next following Landlord’s original notice under this Paragraph, then Tenant’s rights to lease such space shall lapse and terminate, and Landlord may, at its discretion, lease such space on such terms and conditions as Landlord shall determine.  Tenant’s rights hereunder shall not include the right to lease less than all of the space identified in Landlord’s notice.  Anything herein contained to the contrary notwithstanding, Landlord may at any time modify or extend any existing or future tenant lease, or choose to use any space that is or about to become vacant within the Building for marketing or property management purposes, without in any such case notifying or offering such space to Tenant, or giving rise to any right of Tenant hereunder.  Nothing contained in this Paragraph is intended nor may anything herein be relied upon by Tenant as a representation by Landlord as to the availability of expansion space within the Building at any time.  In the event Landlord notifies Tenant of space and Tenant rejects such offer, Landlord’s obligations under this Paragraph shall terminate and this Paragraph shall be of no further force or effect.

 

8.                                      Brokerage Commission.  Landlord and Tenant warrant and represent to the other that such party has not dealt with any broker, agent, or other party who might be deemed to be entitled to a commission or finder’s fee in connection with the transaction contemplated under this Amendment, with the exception of Cushman & Wakefield of Pennsylvania, Inc. whose commission shall be paid by Landlord pursuant to separate agreement.  Tenant will indemnify, defend, and hold harmless Landlord from and against any claim for a commission or finder’s fee made by any party by, though, or under Tenant, and Landlord will indemnify, defend, and hold harmless Tenant from and against any claim for a commission or finder’s fee made by any party, by, through, or under Landlord.

 

9.                                      Tenant Improvements.  Other than as provided in Section 3(c), Tenant hereby accepts the Premises in their current “as-is” condition, and Landlord shall have no obligation to perform any improvements thereto.

 

10.                               Limited Liability.  Landlord’s obligations hereunder shall be binding upon Landlord only for the period of time that Landlord is in ownership of the Building; and, upon termination of that ownership, Tenant, except as to any obligations which are then due and owing, shall look solely to Landlord’s successor in interest in the Building for the satisfaction of each and every obligation of Landlord hereunder.  Landlord shall have no personal liability under any of the terms, conditions or covenants of this Lease and Tenant shall look solely to the equity of Landlord in the Building of which the Premises form a part for the satisfaction of any claim, remedy or cause of action accruing to Tenant as a result of the breach of any section of this Lease by Landlord.  In addition to the foregoing, no recourse shall be had for an obligation of Landlord hereunder, or for any claim based thereon or otherwise in respect thereof, against any past, present or future trustee,

 

5

 

member, partner, shareholder, officer, director, agent or employee of Landlord, whether by virtue of any statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such other liability being expressly waived and released by Tenant with respect to the above-named individuals and entities.

 

11.                               Tenant Representations.  Tenant hereby confirms that (i) the Lease is in full force and effect and Tenant is in possession of the Premises; (ii) Landlord has performed all outstanding Tenant Improvements or Landlord’s Work obligations (other than with respect to the Additional Premises); (iii) there are no defaults by Tenant or, to the best of its knowledge, Landlord under the Lease; (iv) Tenant’s NAICS Number is 484; (v) Tenant’s security deposit is $5,930.42; (vi) the Expense Stop is $6.50 per rentable square foot; and (vii) Tenant’s Allocated Share prior to the Additional Premises Commencement Date is 6.2%.

 

12.                               Landlord Representations.  Landlord hereby confirms that (i) the Lease is in full force and effect; and (ii) there are no defaults by Landlord or, to the best of its knowledge, Tenant under the Lease.

 

13.                               Notices; Payment of Rent.  For all notice put-poses under the Lease, the addresses of Landlord and Tenant shall be as follows:

 

Landlord:                                                                                                                                          Brandywine Operating Partnership, L.P.

10000 Midlantic Drive, Suite300 West

Mount Laurel, NJ 08054

Attn: George D. Sowa,

Executive Vice-President

Fax No.: 856-787-1310

E-Mail: george.sowa@bdnreit.com

 

with a copy to:                                                                                                               Brandywine Realty Trust

555 East Lancaster Avenue, Suite 100

Radnor, PA 19087

Attn: Brad A.  Molotsky, General Counsel

Fax No.: 610-832-4928

E-Mail: brad.molotsky@bdnreit.com

 

Tenant:                                                                                                                                                     Ameriquest Transportation Services, Inc.

457 Haddonfield Road, Suite 220

Cherry Hill, NJ 08002

Attn: Douglas W. Clark

Fax No.: 856-773-0809

E-Mail: dclark@ameriquestcorp.com

 

14.                               OFAC Representation.  Tenant represents, warrants and covenants that neither Tenant nor any of its partners, officers, directors, members or shareholders (i) is listed on the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Asset Control, Department of the Treasury (“OFAC”) pursuant to Executive Order No. 13224, 66 Fed. Reg. 49079 (Sept. 25, 2001) (“Order” ) and all applicable provisions of Title III of the USA Patriot Act (Public Law No. 107-56 (October 26, 2001)); (ii) is listed on the Denied Persons List and Entity List maintained by the United States Department of Commerce; (iii) is listed on the List of Terrorists and List of Disbarred Parties maintained by the United States Department of State; (iv) is listed on

 

6

 

any list or qualification of “Designated Nationals” as defined in the Cuban Assets Control Regulations 31 C.F.R. Part 515; (v) is listed on any other publicly available list of terrorists, terrorist organizations or narcotics traffickers maintained by the United States Department of State, the United States Department of Commerce or any other governmental authority or pursuant to the Order, the rules and regulations of OFAC (including without limitation the Trading with the Enemy Act, 50 U.S.C. App. 1-44; the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701-06; the unrepealed provision of the Iraq Sanctions Act, Publ. L. No. 101-513; the United Nations Participation Act, 22 U.S.C. § 2349 as-9; The Cuban Democracy Act, 22 U.S.C. §§ 60-01-10; The Cuban Liberty and Democratic Solidarity Act, 18 U.S.C. §§ 2332d and 233; and The Foreign Narcotic Kingpin Designation Act, Publ. L. No. 106-120 and 107-108, all as may be amended from time to time); or any other applicable requirements contained in any enabling legislation or other Executive Orders in respect of the Order (the Order and such other rules, regulations, legislation or orders are collectively called the “Orders”); (vi) is engaged in activities prohibited in the Orders; or (vii) has been convicted, pleaded nolo contendere, indicted, arraigned or custodially detained on charges involving money laundering or predicate crimes to money laundering, drug trafficking, terrorist-related activities or other money laundering predicate crimes or in connection with the Bank Secrecy Act (31 U.S.C. §§ 5311 et seq.).  Tenant hereby agrees to defend, indemnify, and hold harmless Landlord from and against any and all claims, damages, losses, risks, liabilities, and expenses (including attorney’s fees and costs) arising from or related to any breach of the foregoing representation, warranty and covenant.  The breach of this representation, warranty and covenant by Tenant shall be an immediate Event of Default under this Lease without cure.

 

15.                               Non-Disturbance Agreement.  Landlord shall use its reasonable efforts to deliver a subordination, attornment and non-disturbance agreement (“Non-disturbance Agreement”) from Landlord’s mortgagee (the “Mortgagee”), on the Mortgagee’s standard form, which shall be acceptable to Tenant in its reasonable discretion and provide, inter alia, that: (i) the Mortgagee shall not take any action to terminate the Lease or otherwise to dispossess Tenant; (ii) the Mortgagee shall not interfere with Tenant’s use, possession or enjoyment of the Premises; and (iii) the leasehold estate granted to Tenant under this Lease will not be terminated or disturbed by reason of the foreclosure of the mortgage held by Landlord’s mortgagee; so long as Tenant shall not be in default under this Lease and shall pay all sums due under this Lease without offsets or defenses thereto and shall fully perform and comply with all of the terms, covenants and conditions of this Lease on the part of Tenant to be performed and/or complied with, and in the event the Mortgagee or its respective successor or assigns shall enter into and lawfully become possessed of the Premises covered by this Lease and shall succeed to the rights of Landlord hereunder, Tenant will attorn to the successor as its landlord under this Lease and, upon the request of such successor landlord, Tenant will execute and deliver an attornment agreement (in such form acceptable to Tenant in its reasonable discretion) in favor of the successor landlord.

 

16.                               Nonapplicable Provisions.  Landlord and Tenant acknowledge and agree that those provisions of the Lease which by their nature applied only to the original letting of the Premises (and any prior extensions) shall not apply to this extension.

 

17.                               No Offer.  The submission of this Amendment by Landlord to Tenant for examination does not constitute a reservation of or option for the Premises or of any other space within the Building or in other buildings owned or managed by Landlord or its affiliates or any right to renew or extend the term of the Lease.  This Amendment shall become effective only upon the execution and legal delivery thereof by both parties hereto.

 

7

 

18.                               Conflict; Final Agreement.  Except as specifically set forth herein, all terms and provisions of the Lease (a) are incorporated herein and made a part hereof as if fully set forth herein and (b) shall continue unamended in full force and effect.  In the event of any inconsistencies between the Lease and this Amendment, the terms of this Amendment shall control.

 

<SIGNATURES ON FOLLOWING PAGE>

 

8

 

IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Amendment on the date first above written.

 

	
WITNESS:
    	
 
    	
LANDLORD:
    
	
 
    	
 
    	
BRANDYWINE REALTY TRUST
    
	
 
    	
 
    	
 
    	
 
    
	
/s/   [                ]
    	
 
    	
By:
    	
/s/ George D. Sowa
    
	
 
    	
 
    	
Name:
    	
George D. Sowa
    
	
 
    	
 
    	
Title:
    	
Executive Vice President
    
	
 
    	
 
    	
 
    	
 
    
	
WITNESS/ATTEST:
    	
 
    	
TENANT:
    
	
 
    	
 
    	
AMERIQUEST TRANSPORTATION SERVICES, INC.
    
	
 
    	
 
    	
A New Jersey corporation
    
	
 
    	
 
    	
 
    	
 
    
	
/s/   [                ]
    	
 
    	
By:
    	
/s/ Douglas Clark
    
	
 
    	
 
    	
Name:
    	
Douglas Clark
    
	
 
    	
 
    	
Title:
    	
President/CFO
    

 

WITHOUT LIMITING THE PROVISIONS OF PARAGRAPH 17 ABOVE, IF THIS LEASE IS NOT SIGNED BY TENANT BY AUGUST 15, 2009, IT WILL AUTOMATICALLY BECOME NULL AND VOID.

 

4758244v6 / BRA095-10295 / 7.28.2009

 

EXHIBIT “A-1”

 

 

 

 

2

 

STANDARD PRICING NOTES

 

	
PARTITIONS
    
	
 
    
	
x
    	
CONTRACTOR TO PROVIDE ALL NEW BUILDING   STANDARD PARTITIONS FROM FLOOR TO UNDERSIDE OF SUSPENDED CEILING. U.N.O.
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: CONTRACTOR TO PROVIDE SOUND INSULATION IN BUILDING STANDARD   PARTITIONS AT THE FOLLOWING LOCATIONS, AS INDICATED:
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: CONTRACTOR TO EXTEND PARTITIONS FROM FLOOR TO 6” ABOVE SUSPENDED   CEILING AND PROVIDE SOUND INSULATION WITHIN PARTITIONS AT THE FOLLOWING   LOCATIONS, AS INDICATED:
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: CONTRACTOR TO EXTEND PARTITIONS FROM FLOOR TO STRUCTURE ABOVE AND   PROVIDE SOUND INSULATION WITHIN PARTITIONS AT THE FOLLOWING LOCATIONS,   (PROVIDE SMOKE PARTITIONS WHERE REQUIRED) AS INDICATED:
    
	
 
    	
 
    
	
DOORS
    
	
 
    
	
 
    	
EXISTING DOORS, FRAMES AND HARDWARE TO   REMAIN.  CONTRACTOR TO RELOCATE AS   REQUIRED BY NEW LAYOUT.
    
	
 
    	
 
    
	
 
    	
EXISTING DOORS.  FRAMES AND HARDWARE IN RELOCATED POSITION.
    
	
 
    	
 
    
	
x
    	
PROVIDE NEW BUILDING STANDARD DOORS   THROUGHOUT
    
	
 
    	
 
    
	
o
    	
PROVIDE NEW LOCKSETS AT THE FOLLOWING   LOCATIONS:
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: CONTRACTOR TO PROVIDE FULL-HEIGHT TEMPERED GLASS SIDELITES, INSTALLED   12” FROM LATCH SIDE OF DOOR,         ”   WIDE AT THE FOLLOWING AREAS:

 
    
	
 
    	
 
    
	
CEILINGS
    
	
 
    
	
x
    	
EXISTING SUSPENDED CEILING SYSTEM TO REMAIN   IN 50% OF THE SPACE (ASSUME 50% NEW TILE AND GRID)
    
	
 
    	
 
    
	
o
    	
CONTRACTOR TO REPLACE ALL CEILING TILES   THROUGHOUT
    
	
 
    	
 
    
	
o
    	
PROVIDE AND INSTALL NEW BUILDING STANDARD   CEILING GRID AND TILE THROUGHOUT
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: INSTALL NEW BUILDING STANDARD UPGRADED SUSPENDED CEILING IN THE   FOLLOWING AREAS:

 
    
	
 
    	
 
    
	
LIGHTING
    
	
 
    
	
x
    	
EXISTING LIGHTING TO REMAIN   THROUGHOUT.  CONTRACTOR TO REPLACE   DIRTY, DAMAGED OR YELLOW LENSES WHERE REQUIRED AND PROVIDE NEW TO MATCH   EXISTING (V.I.F.).  REWORK EXISTING   LAYOUT AS REQUIRED BY NEW FLOOR PLAN.    SUPPLEMENT WITH NEW FIXTURES AS REQUIRED
    
	
 
    	
 
    
	
o
    	
CONTRACTOR TO REPLACE ONLY LENSES   THROUGHOUT.  PROVIDE NEW BUILDING   STANDARD              PRISMATIC            DEEP   CELL PARABOLIC
    
	
 
    	
 
    
	
o
    	
CONTRACTOR TO PROVIDE AND INSTALL NEW   BUILDING STANDARD LIGHTING THROUGHOUT              PRISMATIC            DEEP   CELL PARABOLIC
    
	
 
    	
 
    
	
x
    	
ADD ALTERNATE: INSTALL NEW BUILDING STANDARD  X  DOWNLIGHTS IN THE   FOLLOWING AREAS: CONFERENCE ROOM (ASSUME 8)
    

 

1

 

STANDARD PRICING NOTES

 

	
ELECTRICAL
    
	
 
    
	
x
    	
EXISTING ELECTRICAL TO REMAIN   THROUGHOUT.  MODIFY AS REQUIRED BY NEW   LAYOUT.  SUPPLEMENT WITH NEW TO PROVIDE   (3) DUPLEX OUTLETS PER OFFICE; (2) PER CONFERENCE; (2) PER   DESK
    
	
 
    	
 
    
	
o
    	
INSTALL DEDICATED DUPLEX OUTLETS FOR            COPIER;            REFRIGERATOR;            FOR TELEPHONE PANEL AND IN   THE FOLLOWING AREAS:
    
	
 
    	
 
    
	
o
    	
CONTRACTOR TO PROVIDE AND INSTALL           GFI RECEPTACLES
    
	
 
    	
 
    
	
x
    	
CONTRACTOR TO PROVIDE AND INSTALL (4) WALL-MOUNTED   JUNCTION BOX FOR CONNECTION TO TENANT PROVIDED SYSTEMS FURNITURE BASE FEEDS
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: PROVIDE AND INSTALL            FLOOR-MOUNTED JUNCTION BOXES   FOR CONNECTION TO TENANT PROVIDED SYSTEMS FURNITURE BASE-FEEDS
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: PROVIDE AND INSTALL A TOTAL OF            FLUSH FLOOR-MOUNTED DUPLEX   OUTLETS AT THE FOLLOWING LOCATIONS:
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: PROVIDE AND INSTALL A            TON SUPPLEMENTAL HVAC UNIT   AT THE FOLLOWING LOCATIONS WITH EMON DEMON METERING:
    
	
 
    	
 
    
	
PLUMBING
    
	
 
    
	
o
    	
 
    
	
 
    	
 
    
	
FLOOR FINISHES
    
	
 
    
	
x
    	
CONTRACTOR TO PROVIDE AND INSTALL NEW   BUILDING STANDARD BROADLOOM LOOP CARPET IN ALL OPEN OFFICE AREAS
    
	
 
    	
 
    
	
x
    	
CONTRACTOR TO PROVIDE INSTALL NEW BUILDING   STANDARD BROADLOOM CUT PILE CARPET IN ALL ENCLOSED OFFICES AND CONFERENCE   ROOMS
    
	
 
    	
 
    
	
o
    	
CONTRACTOR TO PROVIDE AND INSTALL NEW   BUILDING STANDARD VCT IN ALL SUPPLY ROOMS, FILE ROOMS, LUNCH ROOM AND   TELEPHONE/SERVER ROOM.  PROVIDE AND   INSTALL NEW VINYL TRANSITION STRIP AT TRANSITIONS BETWEEN CARPET AND VINYL   TILE FLOORING.  TRANSITION STRIP COLOR   TO MATCH COLOR OF ADJACENT CARPET.
    
	
 
    	
 
    
	
x
    	
CONTRACTOR TO PROVIDE AND INSTALL NEW BUILDING   STANDARD VINYL BASE THROUGHOUT
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: PROVIDE AND INSTALL UPGRADED            BROADLOOM            CARPET TILE IN THE FOLLOWING   AREAS:

 

           PER YARD ALLOWANCE
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: PROVIDE AND INSTALL CARPET BASE IN THE FOLLOWING AREAS:
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: PROVIDE AND INSTALL            MANUFACTURED TILE AND BASE            GRANITE/MARBLE TILE AND BASE   IN THE FOLLOWING AREAS:

 

SIZE            “X        ”
    

 

2

 

STANDARD PRICING NOTES

 

	
WALL FINISHES
    
	
 
    
	
x
    	
CONTRACTOR TO PAINT ALL WALLS AND TRIM PER   BUILDING STANDARD SPECIFICATIONS
    
	
 
    	
 
    
	
o
    	
REMOVE ALL EXISTING WALLCOVERING AND PREP   FOR PAINT
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: REMOVE ALL EXISTING WALLCOVERING AND INSTALL NEW WALLCOVERING
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: INSTALL NEW VINYL WALLCOVERING IN THE FOLLOWING AREAS:
    
	
 
    	
 
    
	
MILLWORK
    
	
 
    
	
o
    	
NEW FREE STANDING RECEPTION DESK SUPPLIED   BY TENANT
    
	
 
    	
 
    
	
o
    	
EXISTING MILLWORK:            KEEP;            REPLACE;            REPAIR;            REMOVE
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: CONTRACTOR TO PROVIDE AND INSTALL NEW BUILT-IN RECEPTION DESK AS   INDICATED (REFER TO KEY NOTES FOR ADDITIONAL INFORMATION)
    
	
 
    	
 
    
	
 
    	
ADD ALTERNATE: CONTRACTOR TO PROVIDE AND INSTALL NEW UPGRADED   X     LAMINATE,          GRANITE,            CORIAN COUNTER TOPS AS   INDICATED (REFER TO KEY NOTES FOR ADDITIONAL INFORMATION)
    
	
 
    	
 
    
	
 
    	
ADD ALTERNATE: CONTRACTOR TO PROVIDE AND INSTALL NEW 30 LINEAR FEET OF BASEIWALL   CABINETS AS INDICATED (REFER TO KEY NOTES FOR ADDITIONAL INFORMATION)
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: CONTRACTOR TO PROVIDE AND INSTALL            STAINED            PAINTED WOOD CHAIR RAIL IN THE FOLLOWING AREAS:
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: CONTRACTOR TO PROVIDE AND INSTALL            STAINED            PAINTED WOOD BASE IN THE   FOLLOWING AREAS:
    
	
 
    	
 
    
	
PLUMBING
    
	
 
    
	
 
    	
PROVIDE A.D.A. COMPLIANT S.S. SINK AND   FITTINGS.  PROVIDE HOT AND COLD WATER   CONNECTIONS.  DRAIN AND ALL   PLUMBING.  EXPOSED PIPES TO BE   WRAPPED.  PROVIDE ADA COMPLIANT   REMOVABLE PLAM ACCESS PANEL. FINISHED FLOORING TO CONTINUE UNDER SINK.
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: NEW COPPER PIPING TO BE PROVIDED FOR COLD WATER CONNECTION TO   TENANT-SUPPLIED REFRIGERATOR W/ICE MAKER.    PROVIDE CONNECTION TO REVERSE OSMOSIS FILTRATION SYSTEM (FILTRATION   SYSTEM BY CONTRACTOR)
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: NEW COPPER PIPING TO BE PROVIDED FOR COLD WATER CONNECTION TO   TENANT-SUPPLIED ELECTRIC WATER COOLER, PROVIDE CONNECTION TO REVERSE OSMOSIS   FILTRATION SYSTEM (FILTRATION SYSTEM BY CONTRACTOR.)
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: NEW COPPER PIPING TO BE PROVIDED FOR COLD WATER CONNECTION TO   TENANT-SUPPLIED COFFEE MAKER.  PROVIDE   CONNECTION TO REVERSE OSMOSIS FILTRATION SYSTEM (FILTRATION SYSTEM BY   CONTRACTOR)
    
	
 
    	
 
    
	
o
    	
ADD ALTERNATE: NEW PLUMBING AND ELECTRICAL TO BE PROVIDED FOR CONNECTION TO   TENANT-SUPPLIED DISHWASHER.
    
	
 
    	
 
    
	
BLINDS
    
	
 
    
	
x
    	
EXISTING PERIMETER WINDOW BLINDS:   X     KEEP;          REPLACE;            REPAIR;            REMOVE
    
	
 
    	
 
    
	
o
    	
EXISTING INTERIOR WINDOW BLINDS:            KEEP;            REPLACE;            REPAIR;            REMOVE
    
	
 
    	
 
    
	
o
    	
NEW WINDOW BLINDS:            PROVIDE BASED ON THE   FOLLOWING SPECIFICATION
    

 

3

 

 

 

September 9, 2009

 

Mr. Richard Spotts

Vice President

Ameriquest Transportation Services

457 Haddonfield Road, Suite 530

Cherry Hill, NJ 08002

 

RE:                          LibertyView, Suite 530 
 Cherry Hill, New Jersey

 

Dear Mr, Spotts:

 

Enclosed is a fully executed counterpart of the Sixth Amendment to Lease for the above-referenced premises for your files.

 

Thank you for your tenancy with Brandywine Realty Trust.

 

Sincerely,

 

	
/s/ Donna Dolan Lux
    	
 
    

 

Donna Dolan Lux

Leasing & Marketing

 

/k

 

Enclosure

 

 

 

SIXTH AMENDMENT TO LEASE

 

This Sixth Amendment to Lease (the “Amendment”) made and entered into this 4th day of September, 2009, by and between BRANDYWINE REALTY TRUST (“Landlord”) and AMERIQUEST TRANSPORTATION SERVICES, INC., a New Jersey corporation (“Tenant”).

 

WHEREAS, Landlord and Tenant (formerly known as Amtralease Truck Leasing Services Corp. and then as Ameriquest Transportation and Logistics Resources Corp.) are parties to a certain lease dated as of January 14, 1999, as amended by First Amendment to Lease dated May 15, 1999, as amended by Second Amendment to Lease (sometimes, the “Second Amendment”) dated August 1, 2000, as amended by Third Amendment to Lease dated November 5, 2003, as amended by Fourth Amendment to Lease dated August 31, 2008, and as amended by Fifth Amendment to Lease (sometimes the “Fifth Amendment”) dated July 31, 2009 (collectively, the “Lease”), with respect to certain premises (the “Original Premises”) known as Suite 220, comprised of approximately 4,971 rentable square feet of space located on the second floor (the “Existing Second Floor Premises”) and Suite 530, comprised of approximately 2,579 rentable square feet of space located on the fifth floor (the “Surrender Premises”), for a total of 7,550 rentable square feet, both being in the Building known as LibertyView, located at 457 Haddonfield Road, Cherry Hill, New Jersey (the “Building”), such Premises being more particularly described in the Lease.

 

WHEREAS, pursuant to the terms of the Fifth Amendment, Tenant is surrendering the Surrender Premises (as defined in the Fifth Amendment) and expanding the Premises to incorporate the Additional Premises (as defined in the Fifth Amendment).

 

WHEREAS, Landlord and Tenant desire to amend the Lease subject to the terms and conditions of this Amendment, in order to clarify certain provisions therein.

 

NOW, THEREFORE, in consideration of these presents, and the agreement of each other, and for other good and valuable consideration received, the sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, Landlord and Tenant agree that the said Lease shall be and the same is hereby amended as follows:

 

1.                                      Incorporation of Recitals.  The recitals set forth above, the Lease referred to therein and the exhibits attached hereto are hereby incorporated herein by reference as if set forth in full in the body of this Amendment.

 

2.                                      Definitions.  All capitalized terms not otherwise defined in this Amendment shall have the same meaning as in the Lease.  All capitalized terms which are defined herein and used in the Lease shall have the new meaning ascribed to such terms in this Amendment.

 

3.                                      Additional Rent.  Tenant shall continue to pay additional rent with respect to the Premises during the remainder of the Term as extended by the Fifth Amendment, except that with respect to all additional rent under Article 6 accruing from and after the Additional Premises Commencement Date, all references to Base Year and/or Expense Stop are hereby deleted, and Tenant shall pay Tenant’s Allocated Share of all Recognized Expenses and Taxes incurred.

 

4.                                      Tenant Representations.  Tenant hereby confirms that (i) the Lease is in full force and effect and Tenant is in possession of the Premises; (ii) Landlord has performed all outstanding

 

 

Tenant Improvements or Landlord’s Work obligations (other than with respect to the Additional Premises); (iii) there are no defaults by Tenant or, to the best of its knowledge, Landlord under the Lease; (iv) Tenant’s NAICS Number is 484; (v) Tenant’s security deposit is $5,930.42; (vi) the Expense Stop is $6.50 per rentable square foot, but all reference to same is deleted from and after the Additional Premises Commencement Date; and (vii) Tenant’s Allocated Share is currently 6.2% but is being increased from and after the Additional Premises Commencement Date to 7.56%.

 

5.                                      Landlord Representations.  Landlord hereby confirms that (i) the Lease is in full force and effect; and (ii) there are no defaults by Landlord or, to the best of its knowledge, Tenant under the Lease.

 

6.                                      Removal of Reference to Letter of Non-Applicability.  Paragraphs 9(v) and 9(vi) of the Lease are hereby modified to delete any reference to letters of non-applicability which are no longer issued by the NJDEP, and replace them with “an affidavit of Tenant in form and content reasonably satisfactory to Landlord.”

 

7.                                      No Offer.  The submission of this Amendment by Landlord to Tenant for examination does not constitute a reservation of or option for the Premises or of any other space within the Building or in other buildings owned or managed by Landlord or its affiliates or any right to renew or extend the term of the Lease.  This Amendment shall become effective only upon the execution and legal delivery thereof by both parties hereto.

 

8.                                      Conflict; Final Agreement.  Except as specifically set forth herein, all terms and provisions of the Lease (a) are incorporated herein and made a part hereof as if fully set forth herein and (b) shall continue unamended in full force and effect.  In the event of any inconsistencies between the Lease and this Amendment, the terms of this Amendment shall control.

 

IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Amendment on the date first above written.

 

	
WITNESS:
    	
 
    	
LANDLORD:
    
	
 
    	
 
    	
BRANDYWINE OPERATING PARTNERSHIP, L.P.
    
	
 
    	
 
    	
 
    
	
/s/   [                ]
    	
 
    	
By:
    	
/s/ Jeffrey M. Arnold
    
	
 
    	
 
    	
Name:
    	
Jeffrey M. Arnold
    
	
 
    	
 
    	
Title:
    	
Director of Marketing
    
	
 
    	
 
    	
 
    
	
WITNESS/ATTEST:  
    	
 
    	
TENANT:
    
	
 
    	
 
    	
AMERIQUEST   TRANSPORTATION SERVICES, INC.
    
	
 
    	
 
    	
A New Jersey   corporation
    
	
 
    	
 
    	
 
    
	
/s/   [                ]  
    	
 
    	
By:
    	
/s/ Richard D. Spotts
    
	
 
    	
 
    	
Name:
    	
Richard D. Spotts
    
	
 
    	
 
    	
Title:
    	
VP -   Operations & Administration
    

 

4893916v1 / BRA09510415 / 9.1.2009

 

2

 

 

February 29, 2012

 

Mr. Richard Spotts

Vice President, Operations & Administration

Ameriquest Transportation Services

457 Haddonfield Road, Suite 530

Cherry Hill, NJ 08002

 

RE:                          Libertyview, Suite 220 
 Cherry Hill, New Jersey

 

Dear Mr. Spotts:

 

Enclosed is a fully executed counterpart of the revised Seventh Amendment to Lease for the above-referenced premises for your files.

 

Thank you for your tenancy with Brandywine Realty Trust.

 

Sincerely,

 

	
/s/ Donna Dolan Lux
    	
 
    

 

Donna Dolan Lux

Leasing & Marketing

 

/k

 

Enclosure

 

 

SEVENTH AMENDMENT TO LEASE

 

THIS SEVENTH AMENDMENT TO LEASE (“Seventh Amendment”) is made and entered into this 22nd day of February, 2012 by and between BRANDYWINE REALTY TRUST (“Landlord”) and AMERIQUEST TRANSPORTATION SERVICES, INC., a New Jersey corporation (“Tenant”).

 

WHEREAS, Landlord and Tenant (formerly known as Amtralease Truck Leasing Services Corp. and as Ameriquest Transportation and Logistics Resources Corp.) are parties to a certain lease dated as of January 14, 1999, as amended by a certain First Amendment to Lease dated May 15, 1999, a certain Second Amendment to Lease dated August 1, 2000, a certain Third Amendment to Lease dated November 5, 2003, a certain Fourth Amendment to Lease dated August 31, 2008, a certain Fifth Amendment to Lease dated July 31, 2009 and a certain Sixth Amendment to Lease dated September 4, 2009 (as amended, the “Lease”), pursuant to the provisions of which the Tenant leased from Landlord approximately 6,626 rentable square feet of space on the second floor of Building known as LibertyView, located at 457 Haddonfield Road, Cherry Hill, New Jersey as more particularly described in the Lease.

 

WHEREAS, Landlord and Tenant now desire to expand the Premises by an additional 1,253 rentable square feet of space on the second floor of the Building, as more particularly described on Exhibit “A” attached hereto (the “Additional Space”), and otherwise amend and modify the Lease pursuant to the provisions of this Seventh Amendment.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and with the intention of being legally bound, the parties agree as follows:

 

1.                                      The recitals set forth above, the Lease referred to therein and the exhibits attached hereto are hereby incorporated herein by reference as if set forth in full in the body of this Seventh Amendment.

 

2.                                      All capitalized terms not otherwise defined in this Seventh Amendment shall have the same meaning as in the Lease.  All capitalized terms which are defined herein and used in the Lease shall have the new meaning ascribed to such terms in this Seventh Amendment.

 

3.                                      (a) The Lease is hereby amended to provide that Landlord demises and lets unto Tenant, and Tenant leases and hires from Landlord, the Additional Space effective as of the “Additional Premises Commencement Date” (defined below).  It is the mutual intention of the Landlord and Tenant that the Additional Space shall be leased to and occupied by Tenant on and subject to all of the terms, covenants and conditions of the Lease except as expressly provided to the contrary in this Seventh Amendment, and to that end Landlord and Tenant hereby agree that from and after the Additional Space Commencement Date, the term “Premises”, as defined in the Lease, shall mean and include both the Premises and the Additional Premises, containing a total of 10,458 rentable square feet.

 

(b)                                 Landlord shall construct and do such other work to the Additional Space (the “Landlord’s Work”) in substantial conformity with the plans and outline specifications of the plan dated January 17, 2012 and attached hereto as Exhibit “B” (the “Plans”), utilizing Landlord’s building standard specifications and finishes.  If any material revision or supplement to Landlord’s Work is deemed necessary by Landlord, those revisions and supplements shall be submitted to

 

 

Tenant for approval, which approval shall not be unreasonably withheld or delayed.  If Landlord shall be delayed in such “substantial completion” as a result of (i) Tenant’s request for materials, finishes or installations other than Landlord’s standard; (ii) Tenant’s changes in the Plans; (iii) the performance or completion of any work, labor or services by a party employed by Tenant; or (iv) Tenant’s failure to approve working drawings or reflective ceiling plans within the five (5) days after submission thereof to Tenant (each, a “Tenant’s Delay”); then the Additional Space Commencement Date shall be accelerated by the number of days of such delay.  If any change, revision or supplement to the scope of the Landlord’s Work is requested by Tenant or if Tenant fails to provide information or cooperation required by Landlord in connection with Landlord’s Work within the time periods required then such occurrence shall not change the Additional Space Commencement Date of the Term and shall not alter Tenant’s obligations under this Lease.  Tenant shall be solely responsible for all reasonably documented and invoiced expenses which increase the costs incurred in connection with a Tenant requested change in the scope of the Landlord Work (including the finishes set forth therein).  Tenant and its authorized agents, employees and contractors shall have the right, at Tenant’s own risk, expense and responsibility, at all reasonable times during the fifteen (15) days prior to the Additional Space Commencement Date to enter the Additional Space for the purpose of installing Tenant’s cabling, telecommunications systems, furniture, fixtures, and equipment.  Any and all such early entry shall be at Tenant’s sole risk and expense, and shall be upon and subject to all of the terms and conditions of the Lease.  Such entry shall be by responsible contractors and subcontractors who shall not prejudice Landlord’s relationship with Landlord’s contractors or subcontractors or the relationship between such contractors and their subcontractors or employees, or disturb harmonious labor relations, and who shall furnish in advance and maintain in effect workmen’s compensation insurance in accordance with statutory requirements and comprehensive public liability insurance (naming Landlord and Landlord’s contractors and subcontractors as additional insureds) with limits satisfactory to Landlord.  In addition, all such entry shall be accomplished in such manner or at such times as to cause any delay in connection with any work being done by any of the Landlord’s contractors or subcontractors in the Premises or in the Building generally.

 

(c)                                  From and after the Additional Premises Commencement Date, Tenant’s Allocated Share shall be 8.6%.

 

(d)                                 The term “Additional Space Commencement Date” shall be the date on which the Landlord has “substantially completed” the Landlord’s Work.  The Landlord’s Work shall be deemed “substantially completed” when the Additional Space may be occupied by Tenant for its Permitted Uses, subject only to completion of minor finishing, adjustment of equipment, and other minor construction aspects, and Landlord has procured a temporary or permanent certificate of occupancy permitting the occupancy of the Relocation Premises, if required by law (hereafter, “substantially completed”).  The Additional Space Commencement Date shall be confirmed by Landlord and Tenant by the execution of a confirmation of Lease Term in a form reasonably acceptable to Landlord and Tenant.  Upon notification by Landlord, Landlord and Tenant shall schedule a pre-occupancy inspection of the Additional Space at which time a punchlist of outstanding items, if any, shall be completed.  Within a reasonable time thereafter, Landlord shall complete the punchlist items to Tenant’s reasonable satisfaction.

 

(e)                                  Landlord and Tenant acknowledge and confirm that the Term of the Lease shall expire, if not sooner terminated on January 31, 2017.  Notwithstanding the foregoing to the contrary, the Renewal provisions set forth in Section 6 of the Fifth Amendment to Lease remains effective, provided that Landlord and Tenant acknowledge and confirm that such Renewal provision applies to the entire Premises including the Additional Space.

 

2

 

(f)                                   Commencing as of the Additional Space Commencement Date, Tenant shall pay Fixed Rent for the Premises in the following amounts:

 

	
LEASE YEAR
    	
 
    	
PER R.S.F.
    	
 
    	
MONTHLY
   INSTALLMENTS
    	
 
    	
ANNUAL
   FIXED RENT
    	
 
    
	
Additional Space   Commencement Date —
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
1/31/2013
    	
 
    	
$
    	
14.00
    	
*
    	
$
    	
12,201.00
    	
 
    	
$
    	
146,412.00
    	
 
    
	
2/1/2013 —   1/31/2014
    	
 
    	
$
    	
14.50
    	
*
    	
$
    	
12,636.75
    	
 
    	
$
    	
151,641.00
    	
 
    
	
2/1/2014 —   1/31/2015
    	
 
    	
$
    	
15.00
    	
*
    	
$
    	
13,072.50
    	
 
    	
S
    	
156,870.00
    	
 
    
	
21112015 —   1/31/2016
    	
 
    	
$
    	
15.50
    	
*
    	
$
    	
13,508.25
    	
 
    	
$
    	
162,099.00
    	
 
    
	
2/1/2016   —113112017
    	
 
    	
$
    	
16.00
    	
*
    	
$
    	
13,944.00
    	
 
    	
$
    	
167,328.00
    	
 
    
												

 

*Plus Additional Rent and Utilities as set forth in the Lease.

 

4.                                      Tenant acknowledges and confirms that all of the space on the second floor of the Building has been leased, Tenant rejected the Landlord’s offer to lease additional space on the second floor of the Building pursuant to the provisions of Article 7 of the Fifth Amendment to Lease, and accordingly, Article 7 of the Fifth Amendment to Lease is hereby deleted in its entirety.

 

5.                                      Landlord’s obligations hereunder shall be binding upon Landlord only for the period of time that Landlord is in ownership of the Building; and, upon termination of that ownership, Tenant, except as to any obligations which are then due and owing, shall look solely to Landlord’s successor in interest in the Building for the satisfaction of each and every obligation of Landlord hereunder.  Landlord shall have no personal liability under any of the terms, conditions or covenants of the Lease and Tenant shall look solely to the equity of Landlord in the Building of which the Premises form (and the rents, profits and issues therefrom) a part for the satisfaction of any claim, remedy or cause of action accruing to Tenant as a result of the breach of any section of this Lease by Landlord.  In addition to the foregoing, no recourse shall be had for an obligation of Landlord hereunder, or for any claim based thereon or otherwise in respect thereof, against any past, present or future trustee, member, partner, shareholder, officer, director, partner, agent or employee of Landlord, whether by virtue of any statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such other liability being expressly waived and released by Tenant with respect to the above-named individuals and entities.

 

6.                                      Landlord and Tenant represent and warrant to each other that neither has had any dealings, negotiations or consultations with respect to the Premises or this transaction with any broker or finder and, no broker or finder called the Premises to Tenant’s attention for lease or took any part in any dealings, negotiations or consultations with respect to the Premises or this Seventh Amendment other than Cushman & Wakefield Pennsylvania, whose commission shall be paid by Landlord.  Each party agrees to indemnify and hold the other harmless from and against all liability, cost and expense, including reasonable attorney’s fees and court costs, arising out of any misrepresentation or breach of warranty under this Section.

 

7.                                      Tenant hereby confirms that (i) the Lease is in full force and effect and Tenant is in possession of the Premises; (ii) there are no defaults by Landlord or Tenant under the Lease, (iv) Tenant’s security deposit is $5,930.42, and (vi) Tenant’s Allocated Share is equal to 7.56% as of the date hereof, and shall be 8.6% from and after the Additional Space Commencement Date.

 

3

 

Landlord hereby confirms that (i) the Lease is in full force and effect; and (ii) there are no defaults by Landlord, or to the best of its knowledge, Tenant under the Lease.

 

8.                                      Except as expressly provided in this Seventh Amendment, the terms and provisions of the Lease remain in full force and effect in accordance with its terms.  In the event of any inconsistencies between the Lease and this Seventh Amendment, the terms of this Seventh Amendment shall control.

 

IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Seventh Amendment on the date and year first above written.

 

	
WITNESS:
    	
 
    	
LANDLORD:
    
	
 
    	
 
    	
BRANDYWINE OPERATING PARTNERSHIP, L.P.
    
	
 
    	
 
    	
 
    
	
/s/   [                ]
    	
 
    	
By:
    	
/s/ George D. Sowa
    
	
 
    	
 
    	
Name:
    	
George D. Sowa
    
	
 
    	
 
    	
Title:
    	
Executive Vice President
    
	
 
    	
 
    	
 
    
	
WITNESS/ATTEST:
    	
 
    	
TENANT:
    
	
 
    	
 
    	
AMERIQUEST TRANSPORTATION SERVICES, INC.
    
	
 
    	
 
    	
 
    
	
/s/   [                ]
    	
 
    	
By:
    	
/s/ Richard D. Spotts
    
	
 
    	
 
    	
Name: 
    	
Richard D. Spotts
    
	
 
    	
 
    	
Title:
    	
V.P. - Operations & Administration
    

 

4

 

Tenant: Ameriquest Transportation Services, Inc.

Premises: Suites 210, 220, 410, Libertyview

 

EIGHTH AMENDMENT TO LEASE

 

This Eighth Amendment to Lease (“Amendment”) made and entered into this 19th day of November, 2014, by and between BRANDYWINE REALTY TRUST (“Landlord”) and AMERIQUEST TRANSPORTATION SERVICES, INC. (“Tenant”).

 

WHEREAS, Landlord leases certain premises consisting of 10,458 rentable square feet of space commonly referred to as Suites 210 and 220 (“Existing Premises”) located at 457 Haddonfield Road, Cherry Hill, New Jersey (“Building”), to Tenant pursuant to a Lease dated as of January 14, 1999 (“Original Lease”) as amended by the First Amendment to Lease dated May 15, 1999, Second Amendment to Lease dated August 1, 2000, Third Amendment to Lease dated November 5, 2003, Fourth Amendment to Lease dated August 31, 2008, Fifth Amendment to Lease dated July 31, 2009, Sixth Amendment to Lease dated September 4, 2009 and Seventh Amendment to Lease dated February 22, 2012 (collectively and together with the Original Lease, “Existing Lease”); the Existing Lease and this Amendment are hereinafter together referred to as “Lease”; and

 

WHEREAS, Landlord and Tenant wish to amend the Existing Lease to expand the Existing Premises upon the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration of these present and the agreement of each other, Landlord and Tenant agree that the Existing Lease shall be and the same is hereby amended as follows:

 

1.                                      Incorporation of Recitals.  The recitals set forth above, the Existing Lease referred to therein are hereby incorporated herein by reference as if set forth in full in the body of this Amendment.  Capitalized terms not otherwise defined herein shall have the meanings given to them in the Existing Lease.

 

2.                                      Lease of Additional Premises.

 

(a)                                 The Lease is hereby amended to provide that Landlord hereby demises and lets unto Tenant, and Tenant hereby leases and hires from Landlord, all that certain space in the Building, known as Suite 410 containing approximately 2,457 rentable square feet (“Additional Premises”), as shown on Exhibit “A” attached hereto and made a part hereof.  The Term of the Lease for the Additional Premises shall commence upon Substantial Completion (as hereinafter defined) (“Additional Premises Commencement Date”), which is estimated to be December I, 2014, and shall expire on the last day of the month that is coterminous with the Term of the Existing Lease (“Expiration Date”).  It is the mutual intention of Landlord and Tenant that the Additional Premises shall be leased to and occupied by Tenant on and subject to all of the terms, covenants and conditions of the Existing Lease, except as otherwise expressly provided to the contrary in this Amendment, and to that end, Landlord and Tenant hereby agree that from and after the Additional Premises Commencement Date the word “Premises”, as defined in the Existing Lease, shall mean and include both the Existing Premises and the Additional Premises, containing a total of 12,915 rentable square feet, unless the context otherwise requires.

 

 

(b)                                 Except solely as set forth in this subsection (b), Tenant shall accept the Additional Premises in its “AS IS” “WHERE IS” condition, without representation or warranty by Landlord.  Landlord’s Work.  Landlord, in a good and workmanlike manner and using Building standard materials and finishes, shall construct and do such other work in the Additional Premises (collectively, “Landlord’s Work”) in substantial conformity with the plans and outline specifications attached hereto as Exhibit “A”.  If any material revision or supplement to Landlord’s Work is deemed necessary by Landlord, those revisions and supplements shall be submitted to Tenant for approval, which approval shall not be unreasonably withheld or delayed.  If Landlord’s Work is delayed in being Substantially Completed (as hereinafter defined) as a result of: (i) Tenant’s failure to furnish plans and specifications or provide any other reasonably requested information or approvals related to the furtherance of Landlord’s Work within five (5) business days following Landlord’s written request to Tenant for the same; (ii) Tenant’s request for materials, finishes or installations other than Landlord’s standard; (iii) Tenant’s changes in said plans, including but not limited to any Change Order (as hereinafter defined); (iv) the performance or completion of any work, labor or services by Tenant or any party employed or engaged by or on behalf of Tenant; or (v) Tenant’s failure to approve final plans, working drawings or reflective ceiling plans within five (5) business days following Landlord’s written request to Tenant for the same (each, a “Tenant’s Delay”); then the commencement of the Term of the Lease and the payment of Fixed Rent hereunder shall be accelerated by the number of days of such Tenant Delay.  If any change, revision, or supplement to the scope of the Landlords Work is requested by Tenant (“Change Order”) then all such increased costs associated with the Change Order shall be paid by Tenant upfront and the occurrence of the Change Order shall not change the Commencement Date of the Term and shall not alter Tenant’s obligations under the Lease.  Notwithstanding anything to the contrary herein, the Term shall commence on the date the Additional Premises would have been delivered to Tenant but for Tenant’s Delay or the Change Order.  After receipt of notification from Landlord, Landlord and Tenant shall schedule a pre-occupancy inspection of the Additional Premises at which time a punchlist of outstanding items, if any, shall be generated.  Within a reasonable time thereafter, Landlord shall complete the punchlist items to Tenant’s reasonable satisfaction.  Tenant and its authorized agents, employees and contractors shall have the right, at Tenant’s own risk, expense and responsibility at all reasonable times prior to the Commencement Date to enter the Additional Premises for the purpose of taking measurements and installing its furnishings, fixtures and equipment, provided that Tenant acknowledges that all provisions of the Lease shall then be in full force and effect (except the obligation to pay Fixed Rent and Additional Rent for the Additional Premises).  Furthermore, Tenant’s entry in the Additional Premises shall not interfere with Landlord’s construction and completion of the Landlord’s Work and any such interference shall be considered a Tenant Delay hereunder.  In connection with such early access, Tenant shall follow the policies and safety directives of Landlord and Landlord’s contractor.

 

3.                                      Fixed Rent.

 

(a)                                 Commencing on the Additional Premises Commencement Date, Tenant shall pay to Landlord  Fixed Rent for the Additional Premises for the Term, as follows:

 

	
TIME
   PERIOD
    	
 
    	
RENT PER
   R.S.F.
    	
 
    	
ANNUALIZED FIXED
   RENT
    	
 
    	
MONTHLY
   INSTALLMENTS
    	
 
    
	
Rent Year 1
    	
 
    	
$
    	
15.00
    	
 
    	
$
    	
36,855.00
    	
 
    	
$
    	
3,071.25
    	
 
    
	
Rent Year 2
    	
 
    	
$
    	
15.50
    	
 
    	
$
    	
38,083.50
    	
 
    	
$
    	
3,173.63
    	
 
    
	
Rent Year 3
    	
 
    	
$
    	
16.00
    	
 
    	
$
    	
39,312.00
    	
 
    	
$
    	
3,276.00
    	
 
    

 

2

 

“Rent Year” means, with respect to the first (1st) Rent Year, the period that begins on the Additional Premises Commencement Date and ends on the January 31, 2015; thereafter each succeeding Rent Year shall commence on the day following the end of the preceding Rent Year and shall extend for twelve (12) consecutive months; provided, however, the final Rent Year shall expire on the Expiration Date.  If the Additional Premises Commencement Date is not the first day of a calendar month, then the Fixed Rent due for the partial month commencing on the Fixed Rent Start Date shall be prorated based on the number of days in such month.

 

(b)                                 Payments of Rent.  Notwithstanding anything in the Lease to the contrary, Tenant shall pay to Landlord without notice or demand, and without set-off, Rent as required by the Lease by: (i) check payable to Landlord, sent to Brandywine Operating Partnership, LP, P.O. Box 11951, Newark, NJ 07101-4951; (ii) electronic fund transfer through the Automated Clearing House network or similar system designated by Landlord, to the extent available (“ACH”) or (iii) wire transfer of immediately available funds to the account at Wells Fargo Bank, account no. 2030000359075 ABA # 121000248 and Tenant shall notify Landlord of each such wire transfer email to Wire.Confirmation@bdnreit.com (or such other email address provided by Landlord to Tenant).  All payments must include the following information: Building Number 274 and Lease Number         .  The Lease Number shall be provided  by Landlord within a reasonable time following the execution of this Amendment.

 

4.                                      Additional Rent; Utilities.

 

(a)                                 From and after the Additional Premises Commencement Date, the Tenant’s Share for the Premises shall be 10.61 %.  Tenant shall pay Additional Rent and Utilities for the Premises as set forth in the Lease.

 

(b)                                 Notwithstanding the provisions set forth in the Existing Lease, HVAC service to the Premises on Saturdays shall be provided only upon Tenant’s prior written request to Landlord.

 

5.                                      Limited Liability.  Landlord’s obligations hereunder shall be binding upon Landlord only for the period of time that Landlord is in ownership of the Building; and, upon termination of that ownership, Tenant, except as to any obligations which are then due and owing, shall look solely to Landlord’s successor in interest in the Building for the satisfaction of each and every obligation of Landlord hereunder.  Landlord shall have no personal liability under any of the terms, conditions or covenants of the Lease and Tenant shall look solely to the equity of Landlord in the Building of which the Premises form a part for the satisfaction of any claim, remedy or cause of action accruing to Tenant as a result of the breach of any section of the Lease by Landlord.  In addition to the foregoing, no recourse shall be had for an obligation of Landlord hereunder, or for any claim based thereon or otherwise in respect thereof, against any past, present or future trustee, member, partner, shareholder, officer, director, agent or employee of Landlord, whether by virtue of any statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such

 

3

 

other liability being expressly waived and released by Tenant with respect to the above-named individuals and entities.

 

(c)                                  Press Releases; Confidentiality.  Landlord shall have the right, without further notice to Tenant, to include general information relating to the Lease, including Tenant’s name, the Building and the square footage of the Premises in press releases relating to Landlord’s and its affiliates’ leasing activity.  Information relating to rates set forth in the Lease will not be released without Tenant’s prior written consent.  Tenant shall not issue, nor permit any broker, representative, or agent representing Tenant in connection with the Lease to issue, any press release or other public disclosure regarding the Lease or any of the terms contained in the Lease (or any amendments or modifications thereto), without the prior written approval of Landlord.  The parties acknowledge that the transaction described in the Lease (and any amendments and modifications thereto) and the terms thereof are of a confidential nature and shall not be disclosed except to such party’s employees, attorneys, accountants, consultants, advisors, affiliates, and actual and prospective purchasers, lenders, investors, subtenants and assignees (collectively, “Permitted Parties”), and except as, in the good faith judgment of Landlord or Tenant, may be required to enable Landlord or Tenant to comply with its obligations under law or under rules and regulations of the Securities and Exchange Commission.  Neither party may make any public disclosure of the specific terms of the Lease, except as required by law or as otherwise provided in this paragraph.  In connection with the negotiation of the Lease and the preparation for the consummation of the transactions contemplated hereby, each party acknowledges that it will have had access to confidential information relating to the other party.  Each party shall treat such information and shall cause its Permitted Parties to treat such confidential information as confidential, and shall preserve the confidentiality thereof, and not duplicated or use such information, except to Permitted Parties.

 

(d)                                 Notices.  Wherever in the Lease it is required or permitted that notice or demand be given or served by either party to the Lease to or on the other party, such notice or demand shall be duly given or served if in writing and either: (i) personally served; (ii) delivered by pre-paid nationally recognized overnight courier service (e.g., Federal Express) with evidence of receipt required for delivery; (iii) forwarded by registered or certified mail, return receipt requested, postage prepaid; or (iv) emailed with evidence of receipt and delivery of a copy of the notice by first class mail; in all such cases addressed to the parties at the addresses set forth below.  Each such notice shall be deemed to have been given to or served upon the party to which addressed on the date the same is delivered or delivery is refused.  Each party shall have the right to change its address for notices (provided such new address is in the continental United States) by a writing sent to the other party in accordance with this Section, and each party shall, if requested, within ten (10) days confirm to the other its notice address.  Notices from Landlord may be given by either an agent or attorney acting on behalf of Landlord.  Notwithstanding the foregoing, any notice from Landlord to Tenant regarding ordinary business operations (e.g., exercise of a right of access to the Premises, invoices, notice of maintenance activities or Landlord access, a change in billing or notice address, estimated Operating Expenses, reconciliation of Operating Expenses, rules and regulations, etc.) may be given by written notice left at the Premises or delivered by regular mail, facsimile, or electronic means (such as email) to any person at the Premises whom Landlord reasonably believes is authorized to receive such notice on behalf of Tenant without copies as specified herein.

 

	
If to Tenant:

AmeriQuest Business Services

457 Haddonfield Road, Suite 220
    	
 
    	
with a copy to:

AmeriQuest Business Services

2651 Warrenville Road, Suite 560
    

 

4

 

	
Cherry Hill, NJ 08002

Attn: Michael W. Rowbotham, VP of IT

Phone: 856-382-4723

E-mail: mrowbotham@ameriquestcorp.com

 

and to Landlord:

 

Brandywine Operating Partnership, L.P.

10000 Midlantic Drive, Suite 102W

Mr. Laurel, NJ 08054

Attn: George D. Sowa, EVP& Senior   Managing Director

Phone No. 856-533-2805

E-mail: george.sowa@bdnreit.com
    	
 
    	
Downers Grove, IL 60515

Attn: Mark P. Joyce, EVP & CFO

Phone: 630-925-7681

E-mail: mjoyce@ameriquestcorp.com

 

with a copy to:

 

Brandywine Realty Trust

555 East Lancaster Ave. Suite 100

Radnor, PA 19087

Attn: Brad A. Molotsky

Phone No. 610-325-5600

E-mail:   Legal.Notices@bdnreit.com
    

 

(e)                                  Tenant Representations.  Tenant hereby confirms that (i) the Lease is in full force and effect and Tenant is in possession of the Existing Premises; (ii) Landlord has performed all outstanding Landlord’s Work under the Existing Lease; and (iii) there are no defaults by Landlord under the Lease.

 

(f)                                   Brokerage Commission.  Landlord and Tenant mutually represent and warrant to each other that they have not dealt, and will not deal, with any real estate broker or sales representative in connection with this proposed transaction, other than Colliers International.  Each party agrees to indemnify, defend and hold harmless the other and their directors, officers and employees from and against all threatened or asserted claims, liabilities, costs and damages (including reasonable attorney’s fees and disbursements) which may occur as a result of a breach of this representation.

 

(g)                                  Counterparts; Electronic Transmittal.  This Amendment may be executed in any number of counterparts, each of which when taken together shall be deemed to be one and the same instrument.  Tenant shall provide two (2) executed original counterparts of this Amendment to Landlord, and upon Landlord’s counter-signature Landlord shall provide Tenant with one (1), fully executed original of this Amendment.  The parties acknowledge and agree that notwithstanding any law or presumption to the contrary, the exchange of copies of this Amendment and signature pages by electronic transmission shall constitute effective execution and delivery of this Amendment for all purposes, and signatures of the parties hereto transmitted electronically shall be deemed to be their original signature for all purposes.

 

(h)                                 Effect of Amendment; Ratification.  Landlord and Tenant hereby acknowledge and agree that, except as provided in this Amendment, the Existing Lease has not been modified, amended, canceled, terminated, released, superseded or otherwise rendered of no force or effect.  The Existing Lease is hereby ratified and confirmed by the parties hereto, and every provision, covenant, condition, obligation, right, term and power contained in and under the Existing Lease shall continue in full force and effect, affected by this Amendment only to the extent of the amendments and modifications set forth above.  In the event of any conflict between the terms and conditions of this Amendment and those of the Existing Lease, the terms and conditions of this Amendment shall control.  To the extent permitted by applicable law, Landlord and Tenant hereby waive trial by jury in any action, proceeding or counterclaim brought by either against the other on any matter arising out of or in any way connected with the Lease, the relationship of Landlord and

 

5

 

Tenant, or Tenant’s use or occupancy of the Building, any claim or injury or damage, or any emergency or other statutory remedy with respect thereto.

 

[Signatures on following page.]

 

6

 

IN WITNESS WHEREOF, Landlord and Tenant have duly executed this agreement on the date first above written.

 

	
LANDLORD:
    	
 
    	
TENANT:
    
	
 
    	
 
    	
 
    
	
BRANDYWINE REALTY TRUST
    	
 
    	
AMERIQUEST TRANSPORTATION
    
	
 
    	
 
    	
SERVICES, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ George D. Sowa
    	
 
    	
By:
    	
/s/ Michael W. Rowbotham
    
	
Name:
    	
George D. Sowa
    	
 
    	
Name:
    	
Michael W. Rowbotham
    
	
Title:
    	
Executive Vice President and Senior
    	
 
    	
Title:
    	
Vice President of Information
    
	
Director
    	
 
    	
Technology
    

 

 

Exhibit “A”

 

Additional Premises

 

 

 

2

 

 

3

 

 

4

 

 

5

 

 

6

 

 

7Exhibit 10.3

 

OFFICE LEASE

 

NOTICE:

 

The submission of this document for examination does not constitute an option or offer to lease space at the Project.  This document shall have no binding effect on the parties unless executed by the Landlord and the executed copy is delivered to the Tenant.

 

1

 

OFFICE LEASE

 

This Lease is made this 31st day of May, 2012 (“Effective Date”) by and between LBUBS 2005-05 WARRENVILLE ROAD, LLC, an Illinois limited liability Company (“Landlord”) and AmeriQuest Transportation Services, Inc.  f/k/a AmeriQuest Transportation & Logistics Resources Corp., a New Jersey corporation (“Tenant”).

 

1.                                      BASIC LEASE PROVISIONS:

 

1.1                               Project Name: Corridors I

 

Address:                         2651Warrenville Road, Downers Grove, IL 60515
 as more particularly described in Schedule 1.

 

1.2                               Building:                                   Corridors I

 

Unit/Suite No.: 560

Floor:  5th

 

1.3                               Premises:  Approximately 9,290 rentable square feet as reflected on the floor plan attached hereto as Schedule 2.

 

1.4                               Commencement Date of Lease:  January 1, 2013, provided Tenant shall have access 180 days prior thereto for purposes of installation of fixtures, furniture, and equipment so long as Tenant has complied with the provisions of Section 14 hereof. Notwithstanding anything to the contrary, in the event Tenant completes such installation prior to the Commencement Date Tenant shall be permitted to occupy the Premises for the Permitted Use and shall be responsible for Operating Expenses and Shared Facilities Operating Expenses but not for Base Rent for the period prior to the Commencement Date of Lease.

 

1.5                               Rent Commencement:  December 1, 2013.

 

1.6                               Expiration Date of Lease:  December 31, 2023.

 

1.7                               (a)                                 Tenant’s Percentage Share of Operating Expenses:  6.196%.  Based upon a Premises of 9,290 rentable square feet in a Building of 149,896 rentable square feet.

 

(b)                                 Tenant’s Percentage Rent of Shared Facilities Operating Expenses:  3.088%.  Based upon a Premises of 9,290 rentable square feet in buildings of 299,972 rentable square feet.

 

1.8                               Security Deposit:  $51,000, provided if Tenant is not in default as of 12/1/2015, said Security Deposit shall be reduced to $34,000.  (See Paragraph 24)

 

1.9                               Base Rent:

 

	
DATE:
    	
 
    	
$/RSF
    	
 
    	
ANNUAL
   RENT:
    	
 
    	
MONTHLY
   RENT:
    	
 
    
	
1/1/13 - 11/30/13
    	
 
    	
$
    	
13.00
    	
 
    	
$
    	
0.00
    	
 
    	
$
    	
0.00
    	
 
    
	
12/1/13 – 12/31/13
    	
 
    	
$
    	
13.00
    	
 
    	
$
    	
-NA-
    	
 
    	
$
    	
10,064.17
    	
 
    
	
1/1/14 - 12/31//14
    	
 
    	
$
    	
13.26
    	
 
    	
$
    	
123,185.40
    	
 
    	
$
    	
10,265.45
    	
 
    
	
1/1/15 - 12/31/15
    	
 
    	
$
    	
13.53
    	
 
    	
$
    	
125,649.11
    	
 
    	
$
    	
10,470.76
    	
 
    
	
1/1/16 - 12/31/16
    	
 
    	
$
    	
13.80
    	
 
    	
$
    	
128,162.69
    	
 
    	
$
    	
10,680.17
    	
 
    
	
1/1/17 - 12/31/17
    	
 
    	
$
    	
14.07
    	
 
    	
$
    	
130,725.33
    	
 
    	
$
    	
10,893.78
    	
 
    
	
1/1/18 - 12/31/18
    	
 
    	
$
    	
14.35
    	
 
    	
$
    	
133,339.84
    	
 
    	
$
    	
11,111.65
    	
 
    
	
1/1/19 - 12/31/19
    	
 
    	
$
    	
14.64
    	
 
    	
$
    	
136,006.64
    	
 
    	
$
    	
11,333.89
    	
 
    
	
1/1/20 - 12/31/20
    	
 
    	
$
    	
14.93
    	
 
    	
$
    	
138,726.77
    	
 
    	
$
    	
11,560.56
    	
 
    
	
1/1/21 - 12/31/21
    	
 
    	
$
    	
15.23
    	
 
    	
$
    	
141,501.30
    	
 
    	
$
    	
11,791.78
    	
 
    
	
1/1/22 - 12/31/22
    	
 
    	
$
    	
15.54
    	
 
    	
$
    	
144,331.33
    	
 
    	
$
    	
12,027.61
    	
 
    
	
1/1/23 - 12/31/23
    	
 
    	
$
    	
15.85
    	
 
    	
$
    	
147,217.96
    	
 
    	
$
    	
12,268.16
    	
 
    

 

2

 

So long as Tenant is not in default, Base Rent, Operating Expense Rent, and Shared Facilities Operating Expense Rent shall abate for the first eleven (11) months of the Term.

 

1.10                        (a)                                 Operating Expense Rent:  Tenant’s Percentage Share of Operating Expenses

 

(b)                                 Shared Operating Expense Rent:  Tenant’s Percentage Share of Shared Operating Expenses

 

1.11                        Permitted Use:  General Office purposes

 

1.12                        Trade Name:  AmeriQuest

 

1.13                        Parking Spaces:  4 spaces per 1,000 r.s.f., including ten (10) reserved covered spaces.

 

Parking Rate:  $0 per Parking Space per month.

 

1.14                        Guarantor(s):  None.,

 

1.15                        Address for payment of Rent and notices:

 

	
Landlord:

 

LBUBS   2005-05 Warrenville Road, LLC

c/o   Alter Asset Management

1980   Springer Drive

Lombard, Illinois   60148

 

Attn.:   Samuel F. Gould

Fax   No. (630) 620-3606

 

With   a copy of Notices only to:

 

LNR   Partners, LLC

1601   Washington Avenue

Suite 700

Miami   Beach, Florida 33139

Attn:   Director of Real Estate Asset Management

Fax:   (305) 695-5379

 

With   a copies to:

 

Alter   Asset Management, L.L.C.

1980   Springer Drive

Lombard, IL   60148

Attn:   Samuel F. Gould

Fax   No: (630) 620-3606
    	
 
    	
Tenant:

 

Mark   Joyce

AmeriQuest   Transportation Services, Inc.

2651   Warrenville Road, Suite 560

Downers   Grove, IL 60515

 

John   Grone

AmeriQuest   Transportation Services, Inc.

457   Haddonfield Road, Suite 220

Cherry   Hill, NJ 08002

 

With a copy of Notices only to:

 

Frank Tedesco

Dilworth Paxson LLP

457 Haddonfield Road, Suite 700

Cherry Hill, NJ 08002

 

 

 

Ash,   Anos, Freedman & Logan, L.L.C.

77   West Washington Street, Suite 1211

Chicago, IL   60602

 

Attn:   Lawrence M. Freedman

Fax   No: (312) 346-7847
    

 

1.16                        Broker:  Landlord’s Broker is Alter Realty, LLC and Tenant’s Broker is Colliers International.  (See Paragraph 41.)

 

2.                                      DEFINITIONS:  Unless the context otherwise specifies or requires, the following terms will have the meanings set forth below:

 

2.1                               Common Areas:  shall mean all areas and facilities outside the Premises and within the exterior boundaries of the Project and/or the Shared Facilities that are not leased to other tenants and that are provided and designated by Landlord, in

 

3

 

its sole discretion from time to time, for the general use and convenience of Tenant and other tenants of the Project and/or the Shared Facilities and their authorized representatives, employees, invitees and the general public as more particularly set forth in Paragraph 4.  Common Areas are areas within and outside of the buildings on the Project and/or the Shared Facilities, such as common entrances, lobbies.  Landlord may also designate, from time to time, other areas in the Project and/or the Shared Facilities, such as pedestrian walkways, patios, landscaped areas, sidewalks, service corridors, elevators, restrooms, stairways, decorative walls, plazas, loading areas, parking areas and roads for the non-exclusive use of Tenant.

 

2.2                               Operating Expenses:  shall mean all costs of operating, servicing, managing, repairing and maintaining the Project net of any insurance proceeds that may be received to repair, replace and/or minimize damages to charges within this category.  Shared Facilities Operating Expenses:  shall mean all costs of operating, servicing, managing, repairing, and maintaining the Shared Facilities.  All costs of operating, servicing, administering, repairing and maintaining the Project and/or the Shared Facilities include any reasonable and necessary costs of operation, maintenance and repair, computed in accordance with sound accounting principles applied on a consistent basis, and will include by way of illustration, but not limitation:

 

(a)                                 all necessary costs of managing, operating, repairing and maintaining the Project and/or the Shared Facilities, including, without limitation, wages, salaries, fringe benefits and payroll burden for employees on-site utilized in the day to day operation of the Project and/or the Shared Facilities; public liability, flood, property damage and all other insurance premiums paid by Landlord with respect to the Project and/or the Shared Facilities, including any amounts that would be charged as premiums if Landlord self-insures any of the insurance risks; liability disclaimers; water, sewer, heating, air conditioning, ventilating and all other utility charges (other than with respect to utilities separately metered and paid directly by Tenant or other tenants); the cost of contesting the validity or amount of real estate and personal property taxes; janitorial services; access control; window cleaning; elevator maintenance; fire detection and security services; gardening and landscape maintenance; all costs of snow and ice removal; trash, rubbish, garbage and other refuse removal; pest control; painting; facade maintenance; lighting; exterior and partition (demising) wall repairs; roof repairs; maintenance of all steam, water and other water retention and discharging piping, lakes, culverts, fountains, pumps, weirs, lift stations, catch basins and other areas and facilities, whether or not on-site; canal embankment and related maintenance; repair and repainting of sidewalks due to settlement and potholes and general resurfacing and maintenance of parking areas; sanitary control; depreciation of machinery and equipment used in any of such maintenance and repair activities; repair, maintenance and replacement of signage located in the Project and/or the Shared Facilities; management fees; union increases; road sidewalk and driveway maintenance; and all other Project and/or the Shared Facilities maintenance, repairs and insurance;

 

(b)                                 the costs (amortized together with a reasonable finance charge) of any capital improvements:  (A) made to the Project and/or the Shared Facilities by Landlord primarily for the purpose of reducing Operating Expenses and Shared Facilities Operating Expenses; or (B) made to the Project and/or the Shared Facilities by Landlord primarily to comply with any governmental law or regulation that was not in force at the Commencement Date;

 

(c)                                  the costs of supplies, materials, tools and equipment for repairs and maintenance;

 

(d)                                 all real and personal property taxes, assessments (whether they be general or special), sewer Rents, rates and charges, transit taxes, taxes based upon

 

4

 

the receipt of Rent and any other federal, state or local government charge, general, special, ordinary or extraordinary (but not including income taxes), which may now or hereafter be levied or assessed against the land upon which the Project and/or the Shared Facilities stands or the Project and/or the Shared Facilities for such year or the furniture, fixtures, machinery, equipment, apparatus, systems and appurtenances used in connection with the Project and/or the Shared Facilities for the operation thereof, as well as the reasonable legal fees for protest or reduction of property taxes and for assessments or any increase therein (the “Taxes”).

 

Operating Expenses and Shared Facilities Operating Expenses shall not include:

 

(a)                                 interest and principal payments on mortgage debt;

 

(b)                                 ground rental payments;

 

(c)                                  the cost of capital improvements other than those incurred to reduce Operating Expenses; and Shared Facilities Operating Expenses;

 

(d)                                 the costs of painting or decorating other than public areas, the costs of alterations to the premises or the premises of other tenants of the building, or the cost of any work furnished by Landlord without charge as an inducement for a tenant to lease space (i.e., free rent, improvement allowances);

 

(e)                                  a property management fee in excess of four percent (4%) of the gross rental proceeds;

 

(f)                                   depreciation of the Building, and/or Shared Facilities;

 

(g)                                  expenses, including rent, associated with maintaining a leasing or marketing office as opposed to a property management office;

 

(h)                                 salaries and other compensation of executive officers of the Landlord or Management Agent senior to the individual functioning as the Building manager; or the Corridors II Building manager;

 

(i)                                     income or franchise taxes or other such taxes imposed or measured by the income of the Landlord from the operation of the Building; or Shared Facilities;

 

(j)                                    the cost of constructing, installing, operating or maintaining any special service or facility such as an observatory, broadcasting facility, luncheon club, athletic or recreational club, cafeteria or dining facility except that costs associated with the shared conference center and the shared fitness room shall be included in operating expenses so long as neither Tenant nor Tenant’s employees are charged a separate fee for the use of such facilities other than de minimus set-up or clean-up fees for use of the conference center;

 

(k)                                 the costs associated with utilities, services or amenities not available to all tenants or provided to any tenant to a materially greater extent or more favorable manner than generally provided to other tenants;

 

(l)                                     the costs of correcting latent defects and defects in construction or renovation of the Building or its systems;

 

(m)                             the costs (including fines and penalties) to comply with laws such as ADA and environmental laws including, without limitation, laws in effect as of the lease commencement date relating to the phase-out of so-called “Freon” as a coolant;

 

(n)                                 the cost of any work performed or service provided for which fees are charged or other compensation received;

 

5

 

(o)                                 payments for rental items, the cost of which would constitute a capital expenditure if such equipment were purchased other than rental item costs for equipment or supplies used on a temporary basis to facilitate repairs or maintenance of the Building;

 

(p)                                 legal expenses incurred in connection with tenant leases including, without limitation, negotiations with prospective tenants and enforcing provisions of this lease or other leases in the Building;

 

(q)                                 costs for and related to sculptures, paintings and other objects of art located in the interior or on the exterior of the Building or Shared Facilities or immediately adjacent thereto;

 

(r)                                    other than the property management fee as set forth herein, any fees and expenses paid to an agent which is related to Landlord to the extent such fees or expenses are in excess of the customary market amounts which would be paid in the absence of such a relationship;

 

(s)                                   expenditures for repairs or maintenance which are covered by warranties, guarantees or service contracts except to the extent that the cost of service contracts shall be considered operating expenses;

 

(t)                                    any expenditure for which the Landlord has been or is entitled to be reimbursed by third parties such as insurance companies or would have been compensated through proceeds of insurance had the Landlord maintained insurance customarily carried by similar lessors;

 

(u)                                 the cost of any repairs, alterations, additions, changes, tools, equipment replacements and the like which under generally accepted accounting principles and practices are properly classified as capital expenditures;

 

(v)                                 advertising, promotional and marketing expenses;

 

(w)                               real estate brokerage and leasing commissions;

 

(x)                                 expenses in connection with repairs or other work occasioned by the exercise of the right of eminent domain;

 

(y)                                 damages incurred due to the gross negligence or willful misconduct of the Landlord;

 

(z)                                  debt costs or the costs of financing or refinancing;

 

(aa)                          the costs, fines or penalties incurred due to violations by the Landlord of any governmental rule or authority;

 

(bb)                          expenses incurred by Landlord, if any, in connection with the operation, cleaning, repair, safety, management, security, maintenance or other services of any kind provided to any non-office portions of the Building or Shared Facilities such as retail, garage, train or storage purposes except that costs associated with the operation, cleaning, repair, safety, management, security, maintenance or other services associated with the parking deck shall be included in operating expenses so long as neither Tenant or Tenant’s employees or visitors are charge a separate fee for use thereof;

 

(cc)                            any compensation paid to clerks, attendants or other persons in commercial concessions operated by Landlord;

 

(dd)                          Landlord’s general partnership overhead not related to management of the Building or Shared Facilities;

 

(ee)                            contributions to operating expense reserves;

 

6

 

(ff)                              bad debt loss, rent loss or reserves for bad debt or rent loss; and

 

(gg)         any and all interest and penalties assessed on any Landlord’s obligations imposed as a result of failure to make any payments due on time.

 

Notwithstanding the foregoing, those portions of Operating Expenses and Shared Facilities Operating Expenses which are hereinafter defined as Controllable Expenses, for each and every calendar year shall not exceed one hundred four percent (104%) of the Controllable Expenses for the immediately preceding calendar year, calculated on a cumulative basis, except that Landlord may add expense “line items” which may have not been incurred in prior years if they increase services and are approved or requested by Tenant.  Landlord shall separately compute those items of Operating Expenses and Shared Facilities Operating Expenses which are not Controllable Expenses.  Landlord and Tenant agree that there will be no limitation on Tenant’s obligation hereunder for increases in such Operating Expenses and Shared Facilities Operating Expenses and over costs which are not Controllable Expenses.  “Controllable Expenses” shall be all Operating Expenses and Shared Facilities Operating Expenses over which Landlord has no reasonable control.

 

2.3                               Environmental Law:  shall mean any law, statute, ordinance or regulation pertaining to health, industrial hygiene or the environment including, without limitation, CERCLA (Comprehensive Environmental Response, Compensation and Liability Act of 1980), RCRA (Resources Conservation and Recovery Act of 1976) and SARA (Superfund Amendments and Reauthorization Act of 1986).

 

2.4                               Hazardous Substance:  shall mean any substance, material or waste which is or becomes designated, classified or regulated as being “toxic” or “hazardous” or a “pollutant”, which is or becomes similarly designated, classified or regulated, under any Environmental Law, including asbestos, petroleum and petroleum products, or which becomes hazardous to the health and welfare of any occupants in the Building.

 

2.5                               Building Hours:  shall mean Monday through Friday from 7:00 a.m. to 6:00 p.m. and Saturday from 8:00 a.m. to 2:00 p.m., excluding federal and state legal holidays.

 

2.6                               Legal Requirements:  shall mean any and all statutes, ordinances and requirements of all municipal, state and federal authorities now in force, or which may hereafter be in force, pertaining to the Premises, the Building and/or the Project occasioned by or affecting the use thereof by Tenant, including, but not limited to, the Americans With Disabilities Act.

 

2.7                               Schedules:  shall mean the Schedules attached hereto and incorporated herein by reference.  This Lease contains the following Schedules:

 

Schedule 1                                     Description of Project

Schedule 2                                     Floor Plan of Premises

Schedule 3                                     Construction Rider

Schedule 4                                     Intentionally Deleted

Schedule 5                                     Rules and Regulations

Schedule 6                                     Tenant Acceptance Letter

Schedule 7                                     (TBD)

Schedule 8                                     (TBD)

 

2.8                               Shared Facilities:  Those facilities, including but not limited to, Corridors II and the connection between Corridors II and the Building which contain facilities which serve the Project.

 

2.9                               Term:  shall mean the initial Term of this Lease.  It shall commence as of the Commencement Date and end as of the Expiration Date unless sooner terminated as provided herein or extended pursuant to the terms of this Lease.

 

2.10                        Corridors II:  that building which is adjacent to, and shares certain systems and equipment with, the Building.

 

7

 

3.                                      PREMISES:

 

3.1                               Lease of Premises:  Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, for the Term and subject to the agreements, covenants, conditions and provisions set forth in this Lease, to which Landlord and Tenant hereby mutually agree, the premises (the “Premises”) described in Paragraphs 1 above.  The parties hereby stipulate the number of rentable square feet in the Premises and both parties waive the right either may have to remeasure the same.  Upon occupancy of the Premises by Tenant, Tenant shall promptly execute and deliver to Landlord the Tenant Acceptance Letter attached hereto as Schedule 6.  If Landlord is unable to deliver possession of the Premises on the Commencement Date, Landlord shall not be liable for any damage caused thereby, nor shall this Lease be void or voidable, but Tenant shall not be liable for any Rent and the Rent Commencement Date shall be delayed for the same number of days the Commencement Date is delayed, which Commencement Date shall not occur until possession is delivered, at which time the Term shall commence and the Expiration Date shall be extended so as to give effect to the full stated Term.  Tenant may terminate this Lease if possession is not delivered within 180 days of the Commencement Date.3.2. Project:  The Premises are a part of the project (the “Project”) described in Paragraph 1.  Landlord may increase, reduce or change the number, dimensions or locations of the walks, buildings, mall areas, parking and other Common Areas and other improvements located in the Project in any manner that Landlord, in its reasonable discretion, shall deem proper.  Landlord further reserves the right to make alterations and/or additions to and to build or cause to be built additional stories on the Building in which the Premises are situated and to add any buildings adjoining the Premises or elsewhere in the Project.  Without limiting the generality of the foregoing, Landlord may add additional tenants, retail shops, building and parking facilities anywhere in the Project.  Such alterations and/or additions by Landlord shall not materially impair the Tenant’s ability to use the Premises for its Intended Use.  Landlord reserves the right to install, maintain, use, repair and replace pipes, ducts, conduits and wires leading through the Premises and serving other parts of the Building and/or Project in a manner that will not materially interfere with Tenant’s use of the Premises, except temporarily in the case of an emergency.  Landlord will also have the right to increase and expand the size of the Project by adding additional land, buildings and other structures to the Project, provided such expansion does not materially impair the Tenant’s ability to use the Premises for its Intended Use and the Tenant’s Percentage Share is equitably adjusted.  Landlord shall have the right to change the Project’s name without notice, to change the Project’s street address upon 90 days prior notice, and will pay all associated administrative costs incurred by the Tenant as a result of such change, to grant to any person or entity the exclusive right to conduct any business or render any service in or to the Project, provided such exclusive right shall not operate to prohibit Tenant from using the Premises for the purpose set forth in Paragraph 1, to retain at all times master keys or passkeys to the Premises, and to place such signs, notices or displays as Landlord reasonably deems necessary or desirable upon the roof and exterior of the Project.

 

4.                                      COMMON AREAS:

 

4.1                               Tenant’s Right to Use Common Areas:  Landlord grants Tenant and its authorized representatives and invitees the non-exclusive right to use the Common Areas, any lunch areas, conference/training room and fitness/work-out facility available to all Building tenants, with others who are entitled to use the Common Areas subject to Landlord’s rights as set forth in this Lease.

 

4.2                               Landlord’s Control:  Landlord has the right to:  (a) establish and enforce reasonable rules and regulations applicable to all tenants concerning the maintenance, management, use and operation of the Common Areas, the initial rules and regulations are attached to the Lease as Schedule 5; (b) close, if necessary, any of the Common Areas to prevent dedication of any of the Common Areas or the accrual of any rights of any person or of the public to the Common

 

8

 

Areas; (c) close temporarily any of the Common Areas for maintenance purposes; (d) select a person, firm or corporation which may be an entity related to Landlord to maintain and operate any of the Common Areas; and (e) designate other lands outside the exterior boundaries of the Project to become part of the Common Areas.  Notwithstanding the provisions of this Subparagraph, in exercising its rights hereunder, Landlord shall provide Tenant with a means of reasonable access to and from the Premises and will not prevent Tenant from conducting its normal business operations.

 

5.                                      RENT:

 

5.1                               Base Rent:  Tenant will pay to Landlord as Rent for the use and occupancy of the Premises at the times and in the manner provided below, Base Rent in the amount specified in Paragraph 1 payable in U.S. funds, in advance starting on the Rent Commencement Date and on or before the first day of each and every successive calendar month thereafter during the Term without demand, setoff or deduction.

 

5.2                               Operating Expenses Rent and Shared Facilities Operating Expenses Rent:

 

(a)                                 Calculation:  In addition to Base Rent, Tenant shall pay Tenant’s Percentage Share, as specified in Paragraph 1, of the Operating Expenses paid or incurred by Landlord in such year (“Operating Expenses Rent”), as well as Tenant’s Percentage Share, specified in Paragraph 1 of the Shared Facilities Operating Expenses paid or incurred by Landlord in each year (“Shared Facilities Operating Expenses Rent”)Tenant’s Percentage Share of the Operating Expenses is the proportion that the rentable square footage occupied by Tenant bears to the total rentable square footage of the Building, as determined by Landlord (said Percentage Share shall be adjusted in the event the rentable area of the Building or the Project is increased or decreased).  Building measurement should be 1996 BOMA ANSI and should not be modified except upon approval by both Landlord and Tenant.  Tenant’s Percentage Share of the Shared Facilities Operating Expenses is the proportion that the rentable square footage occupied by Tenant bears to the total rentable square footage of the Building and the Shared Facilities , as determined by Landlord (said Percentage Share shall be adjusted in the event the rentable area of the Building, the Project, or the Shared Facilities is increased or decreased.  In such instance, Tenant’s Percentage Shares for such services, utilities or other costs shall be calculated based upon the rentable square footage of the Premises compared to the rentable square footage of the Project and Shared Facilities, as the case may be.

 

(b)                                 Payment:  During December of each calendar year or as soon thereafter as practical, Landlord shall provide Tenant with a written notice of its estimate (line item and detailed support included) of Operating Expenses Rent and Shared Facilities Operating Expense Rent for the ensuing calendar year.  On or before the first day of each month during the ensuing calendar year, Tenant will pay to Landlord 1/12th of such estimated amounts, provided that if such notice is not given in December, Tenant will continue to pay on the basis of the prior year’s estimate until the month after such notice is given.  If at any time or times it appears to Landlord that the amounts payable for Operating Expenses Rent and Shared Facilities Operating Expense Rent for the current calendar year will vary from its estimate by more than 10%, Landlord, by written notice to Tenant, will revise its estimate for such year, and subsequent payments by Tenant for such year will be in an amount so that by the end of such year Tenant will have paid a total sum equal to such revised estimate.  Landlord will indicate in its notice to Tenant the reasons Landlord believes its estimate is low by more than 10%.

 

(c)                                  Statement:  Within 90 days after the close of each calendar year or as soon after such 90 day period as practicable, Landlord will deliver to Tenant a

 

9

 

statement of amounts of Operating Expense Rent and Shared Facilities Operating Expense Rent payable under this Lease for such calendar year.  If such statement shows an amount owing by Tenant that is more than the estimated payments for such calendar year previously made by Tenant, Tenant will pay the deficiency to Landlord within 30 days after delivery of the statement.  If the total of the estimated monthly installments paid by Tenant during any calendar year exceeds the actual expense adjustment amount due from Tenant for such calendar year and provided Tenant is not in default hereunder, such excess shall, at Tenant’s option, be either credited against payments next due hereunder or refunded by Landlord to Tenant.  The adjustments as permitted hereunder will only be made as to those Operating Expenses that actually vary with the occupancy in the building.

 

(d)                                 Audit Rights.  Tenant has the right, exercisable no more than once each calendar year on reasonable notice and at a time reasonably acceptable to Landlord, to cause an audit to be performed at Tenant’s sole cost and expense of Landlord’s operations and/or books and records pertaining to Operating Expense Rent and Shared Facilities Operating Expense Rent for the preceding calendar year.  In the event Landlord has overstated Operating Expense Rent and Shared Facilities Operating Expense Rent by more than 3%, and provided Tenant is not in default hereunder, within 30 days after demand therefore by Tenant accompanied by Tenant’s verification of such overcharges and paid invoices, Landlord will reimburse Tenant for all overcharges and the costs of such audit and verification incurred by Tenant.

 

(e)                                  Gross Up.  Notwithstanding any provision of this Paragraph to the contrary, if the Building (or Project, as applicable) is less than ninety-five percent (95%) leased and/or occupied during any calendar, an adjustment shall be made so that Operating Expense Rent and Shared Facilities Operating Expense Rent, as the case may be shall be computed for such year as though 95% of the Project and/or the Shared Facilities, as the case may be had been leased and occupied during such year.

 

5.3                               Sales Tax; Additional Rent:  Only if and to the extent actually charged by any applicable governmental or quasi-governmental authority, Tenant agrees to pay Landlord monthly all sales or use taxes or excise taxes imposed or any other charge or payment required hereunder to be made by Tenant to Landlord.  All sums of money as shall become due and payable by Tenant to Landlord under this Lease, including, without limitation, sales tax, Operating Expense Rent, Shared Facilities Operating Expense Rent, and Rent shall be deemed additional Rent, which Tenant shall be obligated to pay.  Landlord shall have the same remedies for default in the payment of additional Rent as are available to Landlord in the case of a default in the payment of Base Rent.  All Base Rent, Operating Expense Rent, and Shared Facilities Operating Expense Rent and additional sums payable hereunder are sometimes collectively referred to as “Rent.”

 

5.4                               Late Fee / Default Interest:  Beginning with the second violation in any twelve month period, any installment of Rent not paid within five (5) days of its due date shall bear interest at the prime rate plus 4% and shall be subject to a late charge in the amount equal to 4% of the amount due.

 

5.5                               First Month’s Rent:  The Base Rent installment due for the first full calendar month when Base Rent is actually due and owing shall be paid on December 1, 2013.  The Security Deposit shall be delivered to Landlord by Tenant upon execution by both parties of this Agreement.

 

5.6                               Proration:  If for any reason other than the default of Tenant, this Lease commences on a day other than the first day of a calendar month or terminates on a day other than the last day of a calendar month or year, the amount of Rent payable by Tenant for such partial month or year will be prorated on a per diem basis, as applicable.

 

10

 

6.                                      USE OF PREMISES:

 

6.1                               Quiet Enjoyment.  Tenant shall, and may peacefully have, hold, and enjoy the Premises, subject to the other terms hereof including provided that Tenant timely pays the Rent within any applicable notice and grace period, and timely performs all of Tenant’s covenants and agreements herein contained.  This covenant and all other covenants of Landlord shall be binding upon Landlord and its successors only with respect to breaches occurring during its or their respective periods of ownership of Landlord’s interest hereunder.

 

6.2                               Effect on Insurance:  Tenant shall not use any portion of the Premises for purposes other than those specified in Paragraph 1 and no use shall be made or permitted to be made upon the Premises, nor acts done, which would cause cancellation of any insurance policies covering the Project.  If Landlord’s insurance premiums increase due to Tenant’s activity, Landlord may elect to charge Tenant directly for such additional cost as additional Rent hereunder and Tenant shall pay Landlord for the same within thirty (30) days after written demand thereof.

 

6.3                               Miscellaneous Restrictions:  Tenant will operate from the Premises using the Trade Name set forth in Paragraph 1.  Tenant will not use the Premises for or permit in the Premises any offensive, noisy, or dangerous trade, business, manufacture or occupation or interfere with the business of any other tenant in the Project.  Tenant agrees not to cause, permit or suffer any waste or damage, disfigurement or injury to the Premises or the fixtures or equipment thereof or the Common Areas.  Tenant will not use the Premises for washing clothes or cooking (except for a small kitchenette customarily located in an office) and nothing will be prepared, manufactured or mixed in the Premises, which might emit any offensive odor into the Project.  Tenant will not obstruct the Common Areas in the Project or use the same for business operations or advertising.  Tenant will not use the Premises for any purpose which would create unreasonable elevator loads, cause structural loads to be exceeded or adversely affect the mechanical, electrical, plumbing or other base building systems.  Tenant will at all times comply with the rules and regulations of the Project attached hereto as Schedule 5 and with such additional rules and regulations as may be commercially reasonably adopted by Landlord from time to time.

 

6.4                               Prohibited Uses.  In addition, and not by way of limitation of the restrictions on use set forth herein, Tenant shall not use or permit the use of the Premises in any manner, nor shall Tenant keep the Premises in such a condition, which violates any Legal Requirements (as defined in Paragraph 2) now in effect or hereafter promulgated regulating the use, condition or occupancy of the Premises, and Tenant, at its sole expense, shall promptly comply with all such applicable Legal Requirements and Tenant will indemnify and hold Landlord harmless from any failure to materially comply with any Legal Requirements and from all fines, suits, proceedings, claims, demands or actions of any kind arising out of or in connection with the occupancy or use of the Premises by Tenant.  Tenant shall not use or permit any part of the Premises to be used for any unlawful purpose or for any purpose not approved by Landlord.  Tenant shall not use or permit the use of the Premises in any manner, which will tend to create waste or a nuisance or will tend to interfere with, annoy, or disturb Landlord or any occupants of adjoining premises.

 

6.5                               Temporary Closure.  Notwithstanding anything contained in this Lease to the contrary, should Landlord determine in its reasonable opinion that an emergency exists that threatens the Building or Project or any of the tenants or persons therein, or any of their property (e.g.  an impending hurricane, a bomb threat to the Building and/or Project), including but not limited to emergencies caused by persons or natural conditions outside of Landlord’s control, Landlord shall have the right to close the Building and/or the Project and require all tenants, including

 

11

 

Tenant, to evacuate the Building until such emergency ceases to exist.  Such closure shall not affect Base Rent, any other Rent or the Lease Term.

 

7.                                      PARKING:

 

Tenant’s Parking Rights:  Subject to the rules and regulations of the Project, Tenant shall be entitled to the number of unreserved and reserved Parking Spaces set forth in Paragraph 1 above.  Tenant and its authorized representatives will park their cars only in areas specifically designated for that purpose by Landlord.  Within 5 days after written request by Landlord or any parking space operator, Tenant will furnish to Landlord the license numbers assigned to its cars and the cars of all of its authorized representatives.  If Tenant or its authorized representatives fails to park their cars in the designated parking areas, Landlord may charge Tenant as and for liquidated damages $30 per each day or partial day for each car parked in area other than those designated.  Tenant will not park or permit the parking of any vehicles adjacent to loading areas so as to interfere in any way with the use of such areas.  Only automobiles, motorcyles and pickup trucks will be permitted in the parking areas.  Landlord shall have the right, in Landlord’s sole discretion, to designate parking spaces for the exclusive use of a particular tenant or particular tenants.  Landlord reserves the right to relocate the reserved parking spaces from time to time upon written notice to Tenant.  Landlord will have the right to institute reasonable procedures and/or methods to enforce the Terms of this Subparagraph, including but not limited to, a card access system, the hiring of parking attendants or a management company.

 

8.                                      SIGNAGE:  Landlord, will install and maintain all letters or numerals on the entrance doors for the Premises.  All such letters and numerals shall be in the form specified by Landlord, and no other shall be used or permitted on the Premises.  If a Tenant directory exists at the Building, Landlord shall included Tenant’s name in the directory.  Tenant shall not place any signs within the Premises, which are visible from the outside of the Premises without Landlord’s prior written approval.  Subject to the availability of space and Landlord’s approval, Tenant shall be entitled to a portion of the space on Landlord’s monument signage outside the Building, and signage on the Building directory in the elevator lobby serving the Premises.

 

9.                                      ASSIGNMENT AND SUBLETTING:

 

9.1                               Prohibition.

 

(a)                                 Tenant shall not assign this Lease or sublet any portion of the Premises without prior written consent of the Landlord, which consent shall will not be unreasonably withheld, conditioned or delayed, provided Tenant is not in default under the Lease at the time of such request.  The parties agree that it shall be reasonable for Landlord to withhold consent if Landlord is not satisfied with the financial condition, identity, reputation or business character of the proposed assignee or sublessee or if Landlord or its agents have shown any space in the Project to or attempted to negotiate lease Terms with such proposed assignee or sublessee regarding other available space in the Project within the proceeding six months of the proposed amendment.  Any change in the majority ownership, interest or control of Tenant, if Tenant is a corporation, partnership, limited liability company or other similar type entity, shall constitute an assignment for purposes of this Paragraph.  Notwithstanding any consent by Landlord, Tenant and Guarantor(s), if any, shall remain jointly and severally liable (along with each approved assignee and sublessee, which shall automatically become liable for all obligations of Tenant hereunder with respect to that portion of the Premises so transferred), and Landlord shall be permitted to enforce the provisions of this Lease directly against Tenant, Guarantor, if applicable, or any assignee or sublessee without proceeding in any way against any other party.  In the event of an assignment, contemporaneously with the granting of Landlord’s consent, Tenant shall cause the assignee to expressly assume in writing and agree to perform all of the covenants, duties and obligations of Tenant hereunder and such assignee shall be jointly and severally liable therefore along with Tenant.  No usage of the Premises different from the

 

12

 

usage provided for in Paragraph 1 above shall be permitted, and all other Terms and provisions of the Lease shall continue to apply after such assignment or sublease, provided however, Landlord’s consent shall not be required with respect to any assignment or sublease of all or any portion of the Premises to any affiliate of Tenant, or successor by merger consolidation, sale, or acquisition, provided Landlord is given notice thereof and further provided Tenant is not released from its liability hereunder, and the assignee or sublessee has a tangible net worth exclusive of good will equal to or greater than that of Tenant.

 

(b)                                 Notwithstanding any other provision of Paragraph 9 to the contrary, Tenant shall have the right to assign this Lease or sublet the Premises or any portion thereof, without the consent of Landlord (but with prior written notice to Landlord), to any entity (i) which will continue to use the Premises solely for the Permitted Use and otherwise in a manner compatible with the Project and (ii)(A) controlling, controlled by or under common control with Tenant, or (B) that is Tenant’s successor through merger, reorganization or consolidation as long as the successor entity has a net worth at the time of such assignment that is equal to or greater than the net worth of Tenant immediately prior to such transaction, or (C) that acquires substantially all of the assets of Tenant as long as such acquiring entity has a net worth at the time of such assignment that is equal to or greater than the net worth of Tenant immediately prior to such transaction (a “Permitted Assignment or Sublease”).

 

9.2                               Consent Process.  If Tenant requests Landlord’s consent to an assignment of this Lease or subletting of all or part of the Premises, Landlord may, at its option:  (i) approve such sublease or assignment (but no approval of an assignment or sublease shall relieve Tenant of any liability hereunder); or (ii) if Landlord should fail to notify Tenant in writing of its decision within a ten (10) day period after Landlord is notified in writing of the proposed assignment or sublease, Landlord shall be deemed to have refused to consent to such assignment or subleasing, and to have elected to keep this Lease in full force and effect.

 

9.3                               Profit.  50% of all cash or other consideration received by Tenant as the proceeds of any assignment or sublease of Tenant’s interest in this Lease and/or the Premises, whether consented to by Landlord or not, shall be paid to Landlord, notwithstanding the fact that such proceeds exceed the Rent due hereunder, unless Landlord agrees to the contrary in writing, and Tenant hereby assigns all rights it might have or ever acquire in any such proceeds to Landlord.  This covenant and assignment shall benefit Landlord and its successors in ownership of the Building and shall bind Tenant and Tenant’s heirs, executors, administrators, personal representatives, successors and assigns.  Any assignee, sublessee or purchaser of Tenant’s interest in this Lease, by occupying the Premises and/or assuming Tenant’s obligations hereunder, shall be deemed to have assumed liability to Landlord for all amounts paid to persons other than Landlord in consideration of any such sale, assignment or subletting, in violation of the provisions hereof.

 

10.                               ORDINANCES AND STATUTES:  At Tenant’s sole cost, Tenant will comply with all Legal Requirements imposed upon the Tenant’s use of the Premises. The commencement or pendency of any state or federal court abatement proceeding affecting the use of the Premises shall, at the option of the Landlord, be deemed a breach thereof.  Landlord represents and warrants that it has received no notice of any noncompliance with any applicable law, including those relating to the environment, and including the American for Disabilities Act, which has not been corrected.

 

11.                               MAINTENANCE, REPAIRS, ALTERATIONS:

 

11.1                        Tenant’s Obligations:

 

(a)                                 Except for the completion of any Work by Landlord as defined in Schedule 3, if any, Tenant has agreed to accept the Premises in its “AS

 

13

 

IS” condition without any representation or warranty of any kind.  Tenant acknowledges that the Premises are in good order and repair, unless otherwise indicated herein.  Tenant shall be responsible to complete the Tenant Fit-Out as set forth in Schedule 3.  Tenant, at its own expense and at all times, maintain the Premises in good and safe condition and shall surrender the same, at termination hereof, in as good condition as received, normal wear, tear and casualty excepted.

 

(b)                                 Landlord, at Landlord’s expense, shall be responsible for all maintenance and repairs required in the Premises, including any electrical wiring, plumbing, HVAC installations, water and sewer utility services, janitorial, security for the Building and any other Building systems or Building equipment located in the Premises, roof, exterior walls, structural foundations, parking areas and other Common Areas (“Building Systems”), which shall be maintained and repaired by Landlord and included in Operating Expenses.  Landlord agrees to maintain all of the aforesaid Building Systems and/or equipment in a manner consistent with Class A office buildings in the East-West Corridor of DuPage County.  Notwithstanding the foregoing, Tenant shall be responsible for maintaining and repairing any electrical wiring, telecommunications, computer cabling, or kitchen plumbing, exclusively serving the Premises.

 

11.2                        Limitations:  Tenant may not make any improvements or alterations to the Premises without the prior written consent of Landlord, which consent shall not be unreasonably withheld, delayed, or conditioned.  Notwithstanding the foregoing, Tenant may make any improvements or alterations to the Premises if they are nonstructural (for example, painting and carpeting) do not affect any Building system, cost less than $50,000, cannot be seen from the exterior of the Premises, and otherwise comply with all Legal Requirements and the following provisions of this Paragraph 11.  Prior to the commencement of any repair, improvement, or alteration, Tenant shall give Landlord at least 2 business days written notice in order that Landlord may post appropriate notices to avoid any liability for liens.  All repairs, improvements or alterations will be made by a licensed and insured contractor consented to by Landlord and performed in a good and workmanlike manner.  All materials used shall be of a quality comparable to or better than those in the Premises and shall be in accordance with plans and specifications approved by Landlord.

 

11.3                        Liens:  Tenant will pay all costs of construction done by it or caused to be done by it on the Premises as permitted by this Lease.  Tenant will keep the Project free and clear of all construction, mechanics, materialman’s, laborer’s and supplier’s liens, resulting from construction done by or for Tenant.  The interest of Landlord in the Premises and the Project shall not be subject to liens for improvements made by Tenant.  Any lien filed by any contractor, materialman, laborer or supplier performing work for Tenant shall attach only to Tenant’s interest in the Premises.  Tenant agrees to indemnify, defend and hold harmless Landlord from and against any and all costs and liabilities (including attorneys’ fees and expenses) and any and all construction, mechanic’s, materialman’s, laborer’s or supplier’s liens arising out of or pertaining to any improvements or construction done by Tenant.  All persons and entities contracting or otherwise dealing with Tenant relative to the Premises or the Project are hereby placed on notice of the provisions of this Paragraph, and Tenant shall further notify in writing such persons or entities of the provisions of this Paragraph prior to commencement of any Tenant work in the Premises.  If any construction, mechanic’s, materialman’s, laborer’s or supplier’s lien is ever claimed, fixed or asserted against the Premises or any other portion of the Project in connection with any such Tenant work, Tenant shall, within 10 days after receipt by Tenant of notice of such lien, discharge same as a lien either by payment or by posting of any bond as permitted by law.  If Tenant shall fail to discharge any such lien, whether valid or not, within 10 days after receipt of notice from Landlord, Landlord shall have the right, but not the obligation, to discharge such lien on behalf of Tenant and all costs and expenses incurred by

 

14

 

Landlord associated with the discharge of the lien, including, without limitation, attorneys’ fees, shall constitute additional Rent hereunder and shall be immediately due and payable by Tenant.

 

11.4                        Surrender of Premises:  On the last day of the Term hereof or on any sooner termination, Tenant shall surrender the Premises to Landlord in an “as-is” broom clean condition.  Tenant may remove its trade fixtures provided that Tenant shall repair any damage to the Premises occasioned by such removal.  At the time which Landlord approve, Tenant’s plans for any Tenant Improvements or alterations to the Premises, Landlord may designate which improvements and/or alterations, Landlord may required to be removed at the time of termination or expiration hereof, and Tenant shall be obligated to so remove such improvements or alterations and to restore the Premises to a commercially reasonable condition.

 

12.                               ENTRY AND INSPECTION:  Tenant shall permit Landlord or Landlord’s agents to enter upon the Premises at reasonable times upon verbal notice for the purpose of inspecting the same, performing any services required of Landlord hereunder and showing the Premises to potential and existing mortgagees and purchasers and prospective tenants of other space in the Project.  Notwithstanding the foregoing, Landlord is not required to give notice to Tenant if Landlord must enter the Premises because of an emergency or for the provision of janitorial services.  Tenant will permit Landlord at any time within 180 days prior to the expiration of this Lease, to place upon the Premises any usual “To Let” or “For Lease” signs, and permit potential tenants to inspect the Premises.

 

13.                               INDEMNIFICATION:

 

13.1                        Indemnification.

 

(a)                                 Subject to Paragraph 16 below, Tenant agrees to and shall indemnify, defend and hold Landlord harmless from and against any and all claims, demands, losses, damages, costs and expenses (including attorneys’ fees and expenses) or death of or injury to any person or damage to any property whatsoever arising out of Tenant’s negligent acts or omissions, or relating to Tenant’s breach or default under this Lease, including, but not limited to, Tenant’s breach of Paragraph 14 below or Tenant’s use or occupancy of the Premises or caused by Tenant or its agents, employees or invitees unless proximately caused by the gross negligence of Landlord.  Landlord shall not be liable to Tenant for any damage by or from any act or negligence of any co-tenant or other occupant of the Project or by any owner or occupant of adjoining or contiguous property.  Tenant agrees to pay for all damage to the Project as well as all damage to tenants or occupants thereof caused by misuse or neglect of said Premises, its apparatus or appurtenances or the Common Areas, the Building or the Project, by Tenant or Tenant’s employees, agents and invitees.  The provisions of this Paragraph 13.1 shall survive the termination of this Lease.

 

(b)                                 Except to the extent that Landlord’s liability is limited pursuant to other provisions of this Lease, Landlord will indemnify, defend, and save Tenant harmless of and from, all fines, suits, damages, claims, demands, actual losses, and actions (including attorneys’ fees) for any injury to person or damage to or loss of property on or about the Premises, the Building and the Project caused by the gross negligence or willful misconduct by Landlord or its employees, except:  (i) when such loss results from a default by Tenant under this Lease or the willful misconduct or negligent act or omission of Tenant, and/or any of Tenant’s agents, contractors, servants, employees, licensees, visitors, concessionaires, partners, corporations, associations, subsidiaries, successors and assigns, customers, invitees, and/or any persons working on behalf and/or at the request of and/or in contract or privity with any of such persons; (ii) to the extent of any insurance proceeds received by Tenant or payable under applicable insurance; or (iii) damages that would be considered to be incidental, consequential or punitive in

 

15

 

nature.  Landlord shall have the right to select and direct the attorneys handling any proceedings related to this Paragraph13.1.

 

13.2                        Release.

 

Tenant for themselves and their respective heirs, legal representatives, successors and assigns, do hereby fully and forever release, remise, acquit and discharge the Landlord and all its property management agent(s), and their respective partners, managers, members, officers, directors, employees, agents, attorneys, affiliates, subsidiaries, parents, heirs, legal representatives, successors and assigns, and each of them, of and from any and all claims, demands, debts, obligations, liabilities, bonds, notes, guaranties, controversies, agreements, actions, causes of action, suits, damages (including direct, special, consequential, remote, foreseeable, unforeseeable, and punitive damages), legal fees and other responsibilities of any nature or kind whatsoever, at law, in equity, or otherwise, liquidated or unliquidated, known or unknown, sounding in tort, in contract, or under any other legal theory, or arising under statute or under any other law or regulation, and whether contingent or matured (specifically including, without limitation, damage and liabilities allegedly arising as a result of the released parties’ own negligence, gross negligence, willful misconduct, misfeasance, malfeasance or fault of any nature or kind) which the releasing parties, or any of them, now have or has or could have against or involving the released parties, or any of them, heretofore having arisen, or arising hereafter, out of or in any way in connection with any act or omission or alleged act or omission of any of the released parties in connection with the Lease, the termination of the Lease, publication of any information relating to any dispute with Tenant (if any), threats of legal action to obtain possession of the Premises or otherwise, and the negotiation and execution of this Lease.  The provisions of this Paragraph 13.2(a) shall survive the termination of this Lease.

 

14.                              TENANT’S INSURANCE:  At all times during the Term of this Lease, Tenant shall, at its sole expense, procure and maintain the following types of insurance coverage:

 

14.1                        Commercial General Liability:  Commercial General Liability insurance, including Bodily Injury and Property Damage Liability, Products and Completed Operations, Personal and Advertising Injury Liability, and Fire Damage Liability against any and all damages and liability, including attorneys’ fees and expenses, on account of or arising out of injuries to or the death of any person or damage to property, however occasioned, in, on or about the Premises in amounts not less than $1,000,000 per occurrence, $2,000,000 annual aggregate, and $100,000 Fire Damage Liability;

 

14.2                        Personal Property:  Insurance on all risks basis covering 100% of the Replacement Cost value of property at the Premises including, without limitation, leasehold improvements, trade fixtures, merchandise, furnishings, equipment, goods and inventory;

 

14.3                        Boiler & Machinery:  Not applicable;

 

14.4                        Business Income:  a) Business Interruption insurance for a period of not less than 12 months from the date of fire or casualty; b) Loss of Rents insurance to cover rental loss of Landlord for a period of not less than 12 months from the date of fire or casualty, naming Landlord as Loss Payee;

 

14.5                        Employer’s Liability/Workers’ Compensation:  If and to the extent required by applicable law, Employer’s Liability insurance with limits not less than $500,000, and Workers’ Compensation insurance providing statutory state benefits for all persons employed by Tenant in connection with the Premises;

 

14.6                        Other Insurance:  Intentionally Deleted.

 

14.7                        Form of Insurance/Companies:  All insurance provided for in Section 14 hereof shall be in a form satisfactory to Landlord and carried with insurance companies reasonably acceptable to Landlord that are licensed or authorized to do business in

 

16

 

the State in which the Project is located, are in good standing with the Department of Insurance in the State in which the Project is located and have a current rating issued by A.M. Best Company of not less than A-:VII, and/or whose claim paying ability is rated no lower than A by Standard & Poor’s Ratings Service and A2 by Moody’s Investors Service.  Insurance coverage shall be written as primary policy coverage and not contributing with or excess of any coverage, which Landlord may carry, and Lennar Partners, LLC, Landlord, and Landlord’s managing agent shall be named as Additional Insureds with respect to Commercial General Liability and Automobile Liability, including any Umbrella or Excess policies.  Tenant shall furnish Landlord at the inception of this Lease (i) a Certificate of Insurance evidencing that all such insurance is in effect and that Landlord will be given at least 30 days prior written notice of cancellation or non-renewal, and (ii) proof that premiums have been paid by Tenant.  Not later than 15 days prior to the expiration of any insurance policy, evidence of renewals or replacements of such policy shall be delivered to Landlord, together with proof of payment of the associated premiums.  In the event Tenant shall fail to procure any contract of insurance required under the terms hereof or any renewal of or replacement for any contract of insurance that is expiring or has been canceled, Landlord may, but shall not be obligated to, procure such insurance on behalf of Tenant and the cost thereof shall be payable to Landlord as additional Rent within 10 days following written demand therefore.

 

15.                               LANDLORD’S INSURANCE:

 

15.1                        All Risk.  Landlord (or its principals naming Landlord as an additional insured) shall, as part of the Operating Expenses and Shared Facilities Operating Expenses, maintain fire and extended coverage insurance on the Project and the Premises (which may include vandalism and malicious mischief coverage) and such endorsements as Landlord may require or is otherwise reasonably consistent with other similarly situated buildings) in an amount not less than the full replacement value thereof (which may be exclusive of foundations), or in such amounts as any mortgagee of Landlord shall require, with such deductibles as shall be determined by Landlord from time to time.  Landlord (or its principals naming Landlord as an additional insured) reserves the right to self-insure the Project so long as a financial institution such as an insurance company, bank, savings and loan association, or pension fund having a net worth of at least $100 million owns an interest in the Project of 50% or more.  Landlord (or its principals naming Landlord as an additional insured) also reserves the right to provide the insurance required hereunder as part of a blanket policy.  All insurance obtained by Landlord in connection with the Project shall be passed through to the tenants of the Project, including Tenant, as part of the Operating Expenses and Shared Facilities Operating Expenses, and payments for losses thereunder shall be made solely to Landlord or Mortgagee as their interests shall appear.  In the event of self-insurance, the premium cost equivalency of such policy or policies shall be a part of the Operating Expenses.  In the event of blanket insurance, Landlord shall reasonably allocate the portion of the blanket premium to the Operating Expenses and Shared Facilities Operating Expenses for the Project and the Shared Facilities, as the case may be.

 

15.2                        Liability.  Landlord shall, as part of the Operating Expenses and Shared Facilities Operating Expenses, maintain a policy or policies of commercial general liability insurance with respect to the Common Areas and the activities thereon in such amounts as Landlord or any mortgagee of Landlord may require.  In the event of self-insurance (as referenced in Paragraph 15.1 above), the premium cost equivalency of such policy or policies shall be part of the Operating Expenses and Shared Facilities Operating Expenses.

 

15.3                        Other.  Landlord shall purchase as part of the Operating Expenses and Shared Facilities Operating Expenses, worker’s compensation, and employer’s liability, and rent loss insurance.  Landlord may purchase insurance for windstorm, flood, plate glass, sign, automobile, sinkhole, business income, liquor liability, terrorism,

 

17

 

earthquake and such other insurance which Landlord or any mortgagee of Lender may require in their sole discretion and with such deductibles as Landlord may desire.  The costs of all such insurance shall be part of the Operating Expenses and Shared Facilities Operating Expenses.  Landlord may hereafter raise or lower such coverage in such amounts as may from time to time be prudent to Landlord within its sole discretion or as Landlord’s mortgagee may require.

 

16.                               SUBROGATION:  Landlord and Tenant shall each obtain from their respective insurers under all policies of property insurance maintained by either of them at any time during the Term hereof insuring or covering the Premises or Project, as applicable, a waiver of all rights of subrogation only to the extent of the coverage which the insurer of one party might otherwise have, if at all, against the other party.

 

17.                               UTILITIES AND SERVICES:

 

17.1                        Standards.  Landlord shall operate and maintain the building in a manner consistent with Class A office space in the East-West Corridor of DuPage County and shall use all reasonable efforts to furnish (as part of Operating Expenses and Shared Facilities Operating Expenses) heating, ventilation, air conditioning, janitorial service, cold and hot water for reasonable and normal drinking and lavatory use, replacement light bulbs and/or fluorescent tubes and ballasts for standard overhead fixtures, exterior window washing (not less than 2 times per year), standard trash removal, sewer and waste water services, and janitorial services 5 days per week, snow removal, and provide 24 hour access to Building and Premises to Tenant and its employees.  Said services and utilities shall be provided during Building Hours.  Landlord agrees to provide conference/training room and workout/exercise facility and to maintain same during the term of the Lease.  Utilities and services required at other times shall be subject to a charge of $30.00 per hour or fraction thereof per half floor as such sum may be reasonably increased by Landlord from time to time upon written notice to Tenant.  Tenant shall pay for electricity separately metered for use in the Premises

 

17.2                        Temporary Interruption.  Landlord reserves the right, without any liability to Tenant and without affecting Tenant’s covenants and obligations hereunder, to stop or interrupt or reduce any of the services listed in this Paragraph 17 or to stop or interrupt or reduce any other services, required of Landlord under this Lease, whenever and for so long as may be necessary, by reason of (i) accidents, emergencies, strikes or the occurrence of any of the other events of force majeure, (ii) the making of repairs or changes which Landlord is required by law or is permitted by this Lease to make or in good faith deems necessary, (iii) difficulty or excessive expense in securing proper supplies of fuel, steam, water, electricity, or (iv) any other cause beyond Landlord’s reasonable control, whether similar or dissimilar to the foregoing.  Landlord does not warrant that the services provided for in this Lease will be free from interruption or stoppage resulting from the above causes, and specifically no reduction, interruption or stoppage of any such services for any reason, shall ever be construed as an eviction of Tenant nor shall the same cause any abatement of the Rent payable hereunder or in any manner or for any purpose relieve Tenant from any of Tenant’s obligations hereunder, and in any event, Landlord shall not be liable for any loss, cost or damage, direct or consequential, of any nature arising in connection with interruption or stoppage of any of such services or for any damage to persons or property resulting therefrom; provided, however, Landlord agrees to use reasonable diligence to resume the service or to cause the same to be resumed.  Furthermore, Landlord shall not be liable under any circumstances for a loss of, or injury to, property or for injury to, or interference with, Tenant’s business, including, without limitation, loss of profits, however occurring, through or in connection with or incidental to a failure to furnish any of the services or utilities as set forth in this Paragraph 17, provided however, notwithstanding the foregoing, in the event of any interruption in or failure to furnish any service required to be furnished by Landlord hereunder, which failure results in the Premises being rendered un-tenantable, except as provided in

 

18

 

Section 39 hereof, if such untenantability continues for more than 48 consecutive hours, all rent shall abate until tenantability is restored.

 

17.3                        Security.  Landlord shall have no obligation to provide any security whatsoever for the Building, the Premises, the Project and/or Tenant’s business therein.  Tenant does hereby acknowledge and agree that it shall provide and be solely responsible for its own security, at Tenant’s sole cost and expense, as may be required for the operation of Tenant’s business within the Premises and Landlord shall have no liability to any Tenant and its employees, agents or invitees for losses due to theft or burglary, or for damages done by unauthorized persons in the Premises, the Building, any parking facility, or the Project or for any injury, trauma or other harm to any person, and neither shall Landlord be required to insure against any such losses.  Tenant shall be responsible for all repairs and replacements of damage and/or destruction of the Premises necessitated by burglary or attempted burglary, or any other illegal or forcible entry into the Premises.  Notwithstanding the foregoing, Tenant acknowledges and agrees Landlord may, but will not be required to, adopt and provide security services for the Project from time to time.  Tenant shall cooperate fully in any efforts of Landlord to maintain security in the Project and shall follow all rules and regulations promulgated by Landlord with respect thereto.  However, any security services that are voluntarily undertaken by Landlord may be changed or discontinued from time to time in Landlord’s sole and absolute discretion, without liability to any Tenant and its employees, agents or invitees.  Tenant or any of its employees, agents or invitees waive any claims it may have against Landlord arising out of any security services provided by Landlord, or the inadequacy or absence thereof, specifically including Landlord’s negligence with respect to the providing or failure to provide such services.

 

18.                               CONDEMNATION:  If the whole or substantially the whole of the Building or Premises should be taken for any public or quasi-public use, by right of eminent domain or otherwise or should be sold in lieu of condemnation, then this Lease shall terminate as of the date when physical possession of the Building and/or Premises is taken by the condemning authority.  If less than the whole or substantially the whole of the Building, Premises or Project is thus taken or sold, Landlord (whether or not the Premises are affected thereby) may, at its option, terminate this Lease by giving written notice thereof to Tenant; in which event this Lease shall terminate as of the date when physical possession of such portion of the Building, the Premises or the Project is taken by condemning authority.  If this Lease is terminated upon any such taking or sale, and if the Premises are affected, the Base Rent payable hereunder shall be diminished by an equitable amount, and Landlord shall, to the extent Landlord deems feasible, restore the Building and, if affected, the Premises to substantially their former condition, but such work shall not exceed the scope of the work done by Landlord in originally constructing the Building and installing the any Work, if constructed by Landlord pursuant to Schedule 3 in the Premises, nor shall Landlord in any event be required to spend for such work an amount in excess of the amount received by Landlord as compensation for such taking.  All amounts awarded upon a taking of any part or all of the Project, Building, or Premises shall belong to Landlord, provided that Tenant shall not be entitled to and expressly waives all claim to any such compensation.  All sums which may be payable on account of any condemnation shall belong solely to the Landlord, and Tenant shall not be entitled to any part thereof, provided however, that Tenant shall be entitled to retain any amount awarded to it for its trade fixtures or moving expenses.  Tenant shall have an option to terminate the Lease if a partial taking renders the Premises unable for Tenant to conduct its normal business operations.  In seeking its own award for moving costs, etc.  this should include the right to seek any voice and data wiring costs and any other capital invested by Tenant in the initial Premises.

 

19.                               TRADE FIXTURES:  Except as provided in Section 11.4, any and all improvements made to the Premises during the Term hereof shall, unless Landlord requests their removal, belong to the Landlord without compensation, allowance or credit to Tenant, except movable trade fixtures of the Tenant which can be removed without defacing the Premises or any portion of the Building or Project.  Tenant shall be directly responsible

 

19

 

for taxes upon, measured by or reasonably attributable to the cost or value of Tenant’s equipment, furniture, fixtures and other personal property located in the Premises or by the cost or value of any leasehold improvements made in or to the Premises by or for Tenant other than the initial improvements to be installed at Landlord’s expense regardless of whether title to such improvements is in Tenant or Landlord.

 

20.                               DESTRUCTION OF PREMISES:

 

20.1                        Termination or Repair.  If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord if Landlord does not otherwise have actual knowledge thereof.  In case the Building or the Project shall be so damaged that substantial alteration or reconstruction of the Building or the Project shall, in Landlord’s sole opinion, be required (whether or not the Premises shall have been damaged by such casualty), or in the event any mortgagee of Landlord’s interest in the Building or the Project should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt, or in the event of any material uninsured loss to the Building or the Project, Landlord may, at its option, terminate this Lease by notifying Tenant in writing of such termination within 45 days after the date of such casualty.  If Landlord does not elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to restore the Building and any Work constructed by Landlord pursuant to Schedule 3 (as described in the Construction Rider).  Notwithstanding anything to the contrary contained in this Paragraph, Landlord shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damage resulting from any casualty contained under this Paragraph occurs during the last 12 months of the Lease Term.  If Landlord re-builds the Premises, occupancy by the Tenant must be obtained within 270 days of the event causing the casualty loss.

 

20.2                        Abatement of Rent.  Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such casualty damage or the repair thereof; except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of Rent during the time and to the extent the Premises are unfit for occupancy prorate rent only to the extent Tenant can conduct its normal business operations in the diminished premises.  If the Premises or any other portion of the Building or Project be damaged by fire or other casualty resulting from the fault or negligence of Tenant or any of Tenant’s agents, contractors, employees, or invitees, the Rent hereunder shall not be diminished during the repair of such damage, and Tenant shall be liable to Landlord for the cost of the repair and restoration of the Building or Project caused thereby to the extent such cost and expense is not covered by insurance proceeds.

 

20.3                        Last Year of Term.  If any material damage or destruction occurs to the Premises (or the Building materially impairing use of the Premises) during the last year of the Term, Tenant may terminate the Lease upon written notice to Landlord within 30 days after the occurrence of the damage or destruction.

 

21.                               HAZARDOUS SUBSTANCES:

 

21.1                        Tenant’s Responsibilities:  At its own expense, Tenant will procure, maintain in effect and comply with all conditions of any and all permits, licenses and other governmental and regulatory approvals required for Tenant’s use of the Premises.  Tenant will not cause or permit any Hazardous Substance to be brought upon, kept or used in or about the Project by Tenant, its agents, employees, contractors or invitees without the prior written consent of Landlord except for the routine office cleaning supplies that may be deemed Hazardous Substances provided such Hazardous Substances are stored, used and removed in compliance with all Legal Requirements and Environmental Laws.  Tenant will cause any and all Hazardous Substances brought upon the Premises by Tenant to be removed from the Premises and transported solely by duly licensed haulers to duly licensed facilities

 

20

 

for final disposal of such materials and wastes.  Tenant will, in all respects, handle, treat, deal with and manage any and all Hazardous Substances in, on, under or about the Premises in total conformity with all applicable Environmental Laws and prudent industry practices regarding management of such Hazardous Substances.  Upon expiration or earlier termination of the Term of the Lease, Tenant will cause all Hazardous Substances placed on, under or about the Premises by Tenant or at Tenant’s direction to be removed and transported for use, storage or disposal in accordance and compliance with all applicable Environmental Laws.  Tenant will not take any remedial action in response to the presence of any Hazardous Substances in or about the Premises or the Project, nor enter into any settlement agreement, consent decree or other compromise in respect to any claims relating to any Hazardous Substances in any way connected with the Premises without first notifying Landlord of Tenant’s intention to do so and affording Landlord ample opportunity to appear, intervene or otherwise appropriately assert and protect Landlord’s interests with respect thereto.

 

21.2                        Indemnification:  If the Premises or the Project become contaminated in any manner for which Tenant is legally liable or otherwise become affected by any release or discharge of a Hazardous Substance, Tenant shall immediately notify Landlord of the release or discharge of the Hazardous Substance, and Tenant shall indemnify, defend and hold harmless Landlord from and against any and all claims, damages, fines, judgments, penalties, costs, liabilities or losses (including, without limitation, a decrease in value of the Project or the Premises, damages caused by loss or restriction of rentable or usable space, or any damages caused by adverse impact on marketing of the space, and any and all sums paid for settlement of claims, attorneys’ fees and expenses, consultant fees and expert fees) arising during or after the Term of this Lease and arising as a result of such contamination, release or discharge.  This indemnification includes, without limitation, any and all costs incurred because of any investigation of the site or any cleanup, removal or restoration mandated by federal, state or local agency or political subdivision.  This provision of this Subparagraph 21.2 shall survive termination of this Lease

 

22.                               EVENTS OF DEFAULT:  If one or more of the following events (“Event of Default”) occurs, such occurrence constitutes a breach of this Lease by Tenant:

 

22.1                        Abandonment/Vacation:  Tenant abandons the Premises and ceases to pay its rent; (provided however if Tenant abandons the Premises but continues to pay its rent Landlord shall have the option to elect to terminate the Lease and release Tenant from all future obligations hereunder) or

 

22.2                        Rent:  Tenant fails to pay any monthly Base Rent or Operating Expenses Rent, if applicable, as and when the same becomes due and payable, and such failure continues for more than 5 days following written notice indicating such was due; or

 

22.3                        Other Sums:  Tenant fails to pay any other sum or charge payable by Tenant hereunder as and when the same becomes due and payable, and such failure continues for more than 30 days after Landlord gives written notice thereof to Tenant; or

 

22.4                        Other Provisions:  Tenant fails to perform or observe any other agreement, covenant, condition or provision of this Lease to be performed or observed by Tenant as and when performance or observance is due (or immediately if the failure involves a hazardous condition), and such failure continues for more than 30 days after Landlord gives written notice thereof to Tenant, or if the default does not involve a hazardous condition and cannot be reasonably cured within said 30 day period and Tenant fails promptly to commence with due diligence and dispatch the curing of such default within said 30 day period or, having so commenced, thereafter fails to prosecute or complete with due diligence and dispatch the curing of such default; or

 

21

 

22.5                        Insolvency:  Tenant or Guarantor, if any (a) files or consents by answer or otherwise to the filing against it of a petition for relief or reorganization or arrangement or any other petition in bankruptcy or liquidation or to take advantage of any bankruptcy or insolvency law of any jurisdiction; (b) makes an assignment for the benefit of its creditors; (c) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of itself or of any substantial part of its property; or (d) takes action for the purpose of any of the foregoing; and in the case of Guarantor a replacement for Guarantor acceptable to Landlord is not provided within 30 days after the filing or occurrence of any matters in Subparagraph (a) - (d) above; or

 

22.6                        Receiver:  A court or governmental authority of competent jurisdiction, without consent by Tenant or Guarantor, as applicable, enters an order appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or Guarantor, if any, or with respect to any substantial power of its property, or constituting an order for relief or approving a petition for relief or reorganization or any other petition in bankruptcy or insolvency law of any jurisdiction, or ordering the dissolution, winding up or liquidation of Tenant, or if any such petition is filed against Tenant or Guarantor and such receivership or petition is not dismissed within 60 days; or

 

22.7                        Attachments:  This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within 60 days; or

 

22.8                        Assignment/Sublease:  Tenant assigns this Lease or subleases all or any portion of the Premises to an entity other than a permitted transfer without Landlord’s prior written consent.

 

23.                               REMEDIES UPON DEFAULT:

 

23.1                        Termination:  In the event of any uncured breach of this Lease by Tenant, Landlord may terminate the Lease and repossess the Premises pursuant to the laws of the State in which the Project is located and recover from Tenant as damages:

 

(a)                                 Acceleration of Rent.  By notice to Tenant, Landlord shall have the right to accelerate all Rent and all expense due hereunder and otherwise payable in installments over the remainder of the Term; and the amount of accelerated rent to the termination date, without further notice or demand for payment, shall be due and payable by Tenant within five (5) days after Landlord has so notified Tenant, such amount collected from Tenant shall be discounted to present value using an interest rate of six percent (6%) per annum;

 

(b)                                 Accelerated Rent Component.  For purposes hereof, the Accelerated Rent Component shall mean the aggregate of:

 

(i)             all rent and other charges, payments, costs and expenses due from Tenant to Landlord and in arrears at the time of the election of Landlord to recover the Accelerated Rent Component;

 

(ii)          the minimum annual rent reserved for the then entire unexpired balance of the term of this Lease (taken without regard to any early termination of the term by virtue of any default), plus all other charges, payments, costs and expenses herein agreed to be paid by Tenant up to the end of said term which shall be capable of precise determination at the time of Landlord’s election to recover the Accelerated Rent Component, discounted to present value at two percent (2%) below the then existing prime rate announced by the Wall Street Journal, or its successor publication (the “Announced Prime Rate”).

 

23.2                        Landlord’s Options:  Landlord may, in the alternative, (i) continue this Lease in effect, as long as Landlord does not terminate Tenant’s right to possession, and

 

22

 

Landlord may enforce all its rights and remedies under the Lease, including the right to recover the Rent as it becomes due under the Lease; or (ii) terminate Tenant’s right of possession (but not this Lease) and repossess the Premises pursuant to the laws of the State in which the Project is located in which event Landlord may, but shall be under no obligation to do so (except to the extent required by the laws of the State in which the Project is located), relet the Premises for the account of Tenant for such Rent and upon such Terms as shall be satisfactory to Landlord.  For purpose of such reletting Landlord is authorized by Tenant to decorate or to make any repairs, changes, alterations or additions in or to the Premises that may be necessary or convenient, at Tenant’s expense.  Tenant shall also be responsible for Rent for the period that the Premises are vacant and all costs of re-letting, including, without limitation, brokerage commissions and attorneys’ fees.  Tenant shall be liable for any deficiency of such rental below the total rental and all other payments herein provided for the unexpired balance of the Term of this Lease.  If said breach of the Lease continues, Landlord may, at any time thereafter, elect to terminate the Lease; or (iii) exercise any and all other rights and remedies available to Landlord at law or in equity.

 

24.                               SECURITY DEPOSIT:  The Security Deposit set forth in Paragraph 1, if any, shall secure the performance of the Tenant’s obligations hereunder.  Landlord may, but shall not be obligated to, apply all or portions of the Security Deposit on account of Tenant’s obligations hereunder.  In the event that Landlord applies all or a portion of the Security Deposit to Tenant’s obligations hereunder, Tenant shall be obligated, within 30 days of receipt of notice from Landlord, to deposit cash with Landlord in an amount sufficient to restore the Security Deposit to the full amount stated in Paragraph 1 above.  Failure to deposit such cash shall be a default under the Terms of this Lease.  Provided Tenant is not in default, any balance remaining upon termination shall be returned to Tenant.  Tenant shall not have the right to apply the Security Deposit in payment of the last month’s Rent.  No interest shall be paid by Landlord on the Security Deposit.  In the event of a sale of the Project, Landlord shall have the right to transfer the Security Deposit to the purchaser, upon such transfer Landlord shall have no further liability with respect thereto, and Tenant agrees to look solely to such purchaser for the return of the Security Deposit.  Landlord shall not be required to keep the Security Deposit in a segregated account, and the Security Deposit may be commingled with other funds of Landlord.  The Landlord agrees that the Tenant may in lieu of a cash Security Deposit may post a letter of credit provided by a financial institution reasonably acceptable to the Landlord.

 

25.                               Intentionally Omitted.

 

26.                               LIMITATION ON LANDLORD’S PERSONAL LIABILITY:  Tenant specifically agrees to look solely to Landlord’s interest in the Project for the recovery of any judgment from Landlord, it being agreed that Landlord (and any officers, shareholders, partners, members, managers, directors, employees, affiliates, subsidiaries or parents of Landlord) shall never be personally liable for any such judgment.  Landlord shall have the right to transfer and assign, in whole or in part, all its rights and obligations hereunder and in the Project, Building and/or Premises referred to herein, and in such event and upon such transfer, Landlord shall be released from any further obligations hereunder, and Tenant agrees to look solely to such successor in interest of Landlord for the performance of such obligations.  The limitations contained in this Paragraph shall not be applicable to any obligations owed by the Landlord to the Tenant and said obligations shall be transferred to the Landlord’s successor together with the obligation to pay same.

 

27.                               ATTORNEYS’ FEES:  In the event there is any legal action or proceeding between Landlord and Tenant to enforce any provision of this Lease or to protect or establish any right or remedy of either Landlord or Tenant hereunder, the unsuccessful party to such action or proceeding will pay to the prevailing party all costs and expenses, including reasonable attorneys’ fees (including allocated costs of Landlord’s in-house attorney), incurred by such prevailing party in such action or proceeding and in any appearance in connection therewith, and if such prevailing party recovers a judgment in any such action, proceeding or appeal, such costs, expenses and attorneys’ fees will be determined

 

23

 

by the court handling the proceeding and will be included in and as a part of such judgment.

 

28.                               WAIVER:  No failure of Landlord to enforce any Term hereof shall be deemed to be a waiver.  The failure of Landlord to insist at any time upon the strict performance of any covenant or agreement contained herein or to exercise any option, right, power, or remedy contained in this Lease shall not be construed as a waiver or a relinquishment thereof for the future.  No payment by Tenant or receipt by Landlord of a lesser amount than the applicable Rent payment due under this Lease shall be deemed to be other than on account of the earliest Rent due hereunder, nor shall any endorsement or statement on any check or any letter accompanying any check or payment as Rent be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such Rent or pursue any other remedy in this Lease provided.

 

29.                               SEVERABILITY:  If any clause or provision of this Lease is illegal, invalid or unenforceable under present or future laws effective during the Term hereof, then it is the intention of the parties hereto that the remainder of this Lease shall not be affected thereby, and it is also the intention of both parties that in lieu of each clause or provision that is illegal, invalid or unenforceable, there shall be added as a part of this Lease, a clause or provision as similar in terms to such illegal, invalid or unenforceable clause or provision as may be possible and be legal, valid and enforceable.

 

30.                               NOTICES:  All notices or other communications required or permitted hereunder must be in writing, and be (i) personally delivered (including by means of professional messenger service), (ii) sent by overnight courier, with request for next Business Day delivery, or (iii) sent by registered or certified U.S. mail, postage prepaid, return receipt requested, to the addresses set forth in Paragraph 1.  All notices sent by U.S. mail will be deemed received 3 days after the date of mailing.

 

31.                               HOLDING OVER:  Any holding over after the expiration or termination of this Lease shall be construed as a month-to-month tenancy provided however that Tenant may elect to holdover for up to 90 days after lease expiration on the same terms and conditions hereunder except that Base Rent shall be equal to 150% of that in effect for the preceding month in which the expiration or termination occurred until Tenant vacates the Premises.

 

32.                               TIME:  Time is of the essence with respect to the obligations of any party under this Lease.

 

33.                               HEIRS, ASSIGNS, SUCCESSORS:  This Lease is binding upon and inures to the benefit of the assigns and successors in interest of Landlord and is binding upon and inures to the benefit of Tenant and Tenant’s heirs and successors and, to the extent assignment may be approved by Landlord hereunder, Tenant’s assigns.

 

34.                               SUBORDINATION:

 

(a)                                 This Lease is and shall always be subject and subordinate to the lien of any mortgages which are now or shall at any future time be placed upon the Project, the Premises or Landlord’s rights hereunder, and to any renewals, extensions, modifications or consolidations of any such mortgage.  This clause shall be self-operative and no further instrument of subordination need be required by any mortgagee.  In confirmation of such subordination, however, Tenant, at Landlord’s request, shall execute promptly any appropriate certificate or instrument that Landlord may reasonably request, provided however that so long as Tenant is not in default hereunder, its right to quiet enjoyment shall not be disturbed.

 

(b)                                 Landlord hereby represents that as of the date of execution hereof, there are no ground lessors, mortgage holders, or lien holders with respect to the Project.

 

24

 

(c)                                  Subject to subparagraph (d) below, if any first mortgagee shall hereunder succeed to the rights of Landlord under this Lease, whether through possession or foreclosure action or delivery of a new lease, Tenant shall, at the option of such mortgagee, attorn to and recognize such successor as Tenant’s Landlord under this Lease and shall promptly execute and deliver any instrument not in conflict with the SNDA described in subparagraph (d) below that may be reasonably necessary to evidence such attornment.  Upon such attornment, this Lease shall continue in full force and effect as a direct lease between such successor Landlord and Tenant, subject to all of the terms, covenants and conditions of this Lease.

 

(d)                                 As a condition of (i) the subordination of this Lease to the interest of the holder of any ground lease encumbering the Premises or the interest of any mortgagee and to any modifications, renewals, consolidations or extensions of any mortgage, and (ii) the attornment described in subparagraph (c) above, Landlord shall use commercially reasonable efforts to obtain from the holders of any such ground lease or mortgage, it then current form of a Subordination, Non-Disturbance and Attornment Agreement (“SNDA”), which SNDA shall provide, inter alia, that such holder or mortgagee will at all times and under all conditions recognize, permit and continue the tenancy of Tenant pursuant to all the terms, provisions and agreements of this Lease and will not disturb Tenant’s use and enjoyment of the Property in accordance with the terms of this Lease so long as Tenant is not in default hereunder.  Tenant shall reimburse Landlord for any out of pocket costs incurred by Landlord in connection with obtaining the SNDA (i.e., Mortgagee’s attorneys’ fees and costs).

 

(e)

 

35.                               ESTOPPEL CERTIFICATE:  Tenant shall at any time upon not less than ten (10) days prior written notice from Landlord execute, acknowledge and deliver to Landlord a statement in writing: (i) certifying that this Lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that this Lease, as so modified, is in full force and effect), the amount of any security deposit, and the date to which the Rent and other charges are paid in advance, if any; and (ii) acknowledging that there are not, to Tenant’s knowledge, any uncured defaults on the part of Landlord hereunder, or specifying such defaults if any are claimed.  Any such statement may be conclusively relied upon by a prospective purchaser or encumbrancer to the Premises.

 

At Landlord’s option, Tenant’s failure to deliver such statement within such time shall be a material breach of the Lease or shall be conclusive upon the Tenant:  (i) that this Lease is in full force and effect, without modification, except as may be represented by Landlord; (ii) that there are no uncured defaults in Landlord’s performance; and (iii) that not more than one month’s Rent has been paid in advance or such failure may be considered by Lessor as a default by Tenant under this Lease.

 

36.                               FINANCIAL STATEMENTS:  Tenant shall furnish Landlord, within ten business days after Landlord’s request therefor, its most recent financial statement of Tenant and any guarantors of this Lease.  Unless:  (i) Landlord has reason to believe there has been a material reduction in the financial worth of any of such parties; or (ii) requested by any current or proposed lender, investor or purchaser of Landlord or the Building, such financial statement(s) shall not be required to be furnished more than twice each calendar year.  If Tenant is a publicly traded company and Tenant’s financial information is publicly available, this provision shall be deemed complied with by Tenant.

 

37.                               REPRESENTATIONS; AUTHORITY:

 

37.1                        Tenant.  Tenant represents and warrants that: (i) there are no proceedings pending or, to the knowledge of Tenant, threatened before any court or administrative agency that would materially adversely affect the ability of Tenant to enter into this Lease

 

25

 

or the validity or enforceability of this Lease; (ii) there is no provision of any existing mortgage, indenture, contract or agreement binding on Tenant which would conflict with or in any way prevent the execution, delivery or performance of the Terms of this Lease; (iii) if Tenant is a corporation, limited liability company, partnership or other legal entity, the person executing this Lease on behalf of Tenant represent and warrant that this Lease has been authorized and approved by the appropriate officers, members, managers, partners, beneficiaries, shareholders or other beneficial owner(s) of Tenant as may be required by law; (iv) Tenant is in good standing, qualified to do business in the state in which the Project is located; (v) Tenant has full right, power and lawful authority to execute, deliver and perform its obligations under this Lease, in the manner and upon the Terms contained herein, and to grant the estate herein demised, with no other person needing to join in the execution hereof in order for this Lease to be binding on Tenant; and (vi) the financial information provided by Tenant to Landlord materially and accurately depicts the financial condition of Tenant as of the Effective Date of this Lease.

 

37.2                        Landlord.  Landlord represents and warrants to Tenant that Landlord has full right, power and lawful authority to execute, deliver and perform its obligations under this Lease, in the manner and upon the Terms contained herein, and to grant the estate herein demised.

 

38.                               JOINT AND SEVERAL LIABILITY:  In the event that more than one person or entity executes the Lease as Tenant, all such persons and entities shall be jointly and severally liable for all of Tenant’s obligations hereunder.

 

39.                               FORCE MAJEURE:  Landlord and Tenant shall be excused for the period of any delay in the performance of any obligations hereunder when prevented from doing so by cause or causes beyond Landlord’s absolute control which shall include, without limitation, all labor disputes, civil commotion, civil disorder, riot, civil disturbance, war, war-like operations, invasion, rebellion, hostilities, military or usurped power, sabotage, governmental regulations, orders, moratoriums or controls, fire or other casualty, inability to obtain any material, services or financing or Acts of God.

 

40.                               RECORDING:  Tenant shall not record this Lease, or any memorandum or short form thereof, without the written consent and joinder of Landlord, which may be unreasonably withheld.

 

41.                               BROKERS:  Landlord and Tenant each represent and warrant one to the other that except as the Brokers set forth in Paragraph 1, neither of them has employed any broker in connection with the negotiations of the Terms of this Lease or the execution thereof.  Landlord and Tenant hereby agree to indemnify and to hold each other harmless against any loss, expense or liability with respect to any claims for commissions, finder’s fees or brokerage fees arising from or out of any breach of the foregoing representation and warranty.  Landlord shall be responsible for paying any commission due Landlord’s Broker in connection with this transaction pursuant to a separate written agreement between them.  Landlord’s Broker shall be responsible for any payment due to Tenant’s Broker pursuant to a separate written agreement between Landlord’s Broker and Tenant’s Broker.

 

42.                               ENTIRE AGREEMENT:  The foregoing, together with all Exhibits and Schedules attached hereto, constitutes the entire agreement between the parties and may be modified only by a writing signed by both parties.

 

43.                               GOVERNING LAW:  This Lease shall be construed in accordance with the laws of the State in which the Project is located.

 

44.                               EFFECT OF DELIVERY OF THIS LEASE:  LANDLORD HAS DELIVERED A COPY OF THIS LEASE TO TENANT FOR TENANT’S REVIEW ONLY, AND THE DELIVERY HEREOF DOES NOT CONSTITUTE AN OFFER TO TENANT OR OPTION TO LEASE.  THIS LEASE SHALL NOT BE EFFECTIVE UNTIL A FULLY EXECUTED COPY OF THIS LEASE HAS BEEN DELIVERED TO BOTH LANDLORD AND TENANT.

 

26

 

45.                               WAIVER OF THE RIGHT TO TRIAL BY JURY:  LANDLORD AND TENANT HEREBY KNOWINGLY AND INTENTIONALLY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING THAT LANDLORD OR TENANT MAY HEREINAFTER INSTITUTE AGAINST EACH OTHER WITH RESPECT TO ANY MATTER ARISING OUT OF OR RELATED TO THIS LEASE OR THE LEASED PREMISES WHETHER ARISING IN CONTRACT, TORT OR OTHERWISE.

 

46.                               BANKRUPTCY:  Landlord and Tenant understand that, notwithstanding certain provisions to the contrary contained herein, a trustee or debtor in possession under the Bankruptcy Code may have certain rights to assume or assign this Lease.  Landlord and Tenant further understand that, in any event, Landlord is entitled under the Bankruptcy Code to adequate assurances of future performance of the provisions of this Lease.  The parties agree that, with respect to any such assumption or assignment, the term “adequate assurance” shall include at least the following:

 

(a)                                 In order to assure Landlord that the proposed assignees will have the resources with which to pay all Base Rent, Operating Expense Rent or other sum payable by Tenant pursuant to the provisions of this Lease, any proposed assignee must have, as demonstrated to Landlord’s satisfaction, a net worth (as defined in accordance with generally accepted accounting principles consistently applied) of not less than the net worth of Tenant or any guarantor (whichever is greater) on the date this Lease became effective.  It is understood and agreed that the financial condition and resources of Tenant were a material inducement to Landlord in entering into this Lease.

 

(b)                                 Any proposed assignee must have been engaged in the conduct of business for the 5 years prior to any such proposed assignment, which business does not violate the Permitted Use, and such proposed assignee shall continue to engage in the Permitted Use and will not cause Landlord to be in violation or breach of any provision in any other lease, financing agreement, operating agreement or other agreement relating to the Project.  It is understood and agreed that Landlord’s asset will be substantially impaired if the trustee in bankruptcy or any assignee of this Lease makes any use of the Premises other than the Permitted Use.

 

(c)                                  Any proposed assignee of this Lease must assume and agree to be personally bound by the provisions of this Lease.

 

47.                              SURVIVAL:  Anything contained in this Lease to the contrary notwithstanding, the expiration or termination of the Term of the Lease, whether by lapse of time or otherwise, shall not relieve Tenant from Tenant’s obligations accruing prior to the expiration or termination of the Term, all of which shall survive the same, whether or not same is expressly stated in the particular paragraph of this Lease, including, without limitation, Tenant’s obligations with respect to:  (i) the payment of Rent, (ii) any provisions of this Lease with respect to indemnities of Landlord made by Tenant; and (iii) the removal of all property of Tenant required to be removed hereunder and the repair of all damage to the Premises caused by such removal at the expiration or termination of this Lease to the extent required hereunder.

 

48.                               COUNTERPARTS:  This Lease may be executed in any number of counterparts, which when taken together shall constitute one complete document.

 

49.                               TELECOM:  Tenant understands and agrees that Landlord expressly reserves the right to grant or deny access (to the Building or any portion thereof, including without limitation, any tenant’s premises) to any telecommunications service provider whatsoever, and that Tenant shall not have the right to demand or require Landlord to grant such access to any such telecommunications service provider.  Further, Tenant expressly understands and agrees that except as otherwise provided herein notwithstanding anything to the contrary contained herein, Tenant shall not have the right

 

27

 

to use the risers, raceways, conduits, or mechanical rooms in the Building for telecom purposes without Landlord’s express written consent, which consent Landlord may withhold or condition in its sole discretion.

 

50.                               CONFIDENTIALITY:  Tenant agrees, on behalf of Tenant and Tenant’s employees, agents, contractors, consultants, partners, affiliates, assignees and subtenants, not to disclose the Terms of this Lease or the results of any audit of Landlord’s books and records under this Lease to any third party except (i) legal counsel to Tenant, (ii) any assignee of Tenant’s interest in this Lease or any subtenant of Tenant relative to the Premises (or any portion thereof), (iii) as required by applicable law or by subpoena or other similar legal process, or (iv) for financial reporting purposes.

 

51.                               DAYS:  Unless otherwise specifically indicated to the contrary, the word “days” as used in this Lease shall mean and refer to calendar days.

 

52.                               OFAC REPRESENTATION:  For purposes hereof, “List” shall mean the Specially Designated Nationals and Blocked Persons List maintained by OFAC and/or on any other similar list maintained by OFAC pursuant to any authorizing statute, executive order or regulation, and “OFAC” shall mean the Office of Foreign Assets Control, Department of the Treasury.  Each party represents and warrants to the other that (i) each Person owning a 10% or greater interest in such party is (A) not currently identified on the List, and (B) is not a person with whom a citizen of the United States is prohibited to engage in transactions by any trade embargo, economic sanction, or other prohibition of United States law, regulation, or Executive Order of the President of the United States and (ii) each party has implemented procedures, and will consistently apply those procedures, to ensure the foregoing representations and warranties remain true and correct at all times.  Each party shall comply with all requirements of law relating to money laundering, anti-terrorism, trade embargos and economic sanctions, now or hereafter in effect and shall use reasonable efforts to notify the other in writing if any of the forgoing representations, warranties or covenants are no longer true or have been breached or if such party has a reasonable basis to believe that they may no longer be true or have been breached.  In addition, at the request of a party, the other party shall provide such information as may be requested by the requesting to determine the other party’s compliance with the terms hereof.

 

53.                               RIGHT OF FIRST REFUSAL:  So long as Tenant is not in default beyond the expiration of applicable notice and cure periods, in the event Landlord has received and intends to accept a bona fide third party offer (“Offer”) to enter into a lease for any vacant space that becomes available on the 4th and/or 5th floors of the Building (“First Refusal Space”), Tenant shall have a right of first refusal to lease the First Refusal Space on the same terms and conditions set forth in the Offer, except that the term thereof shall be co-terminus with that of this Lease.  Tenant shall have ten (10) days from receipt of Landlord’s written notice of the Offer to advise Landlord in writing of Tenant’s exercise of its right of first refusal.  Such notice shall include the terms of the Offer but need not including the name of the third party.  In the event Tenant fails to so exercise said right in the manner and time as heretofore provided, Tenant’s right of first refusal shall thereafter be null and void and of no further force or effect , and Landlord shall have the right to lease the portion of the First Refusal Space which is subject to the Offer to any third party.  In the event of such exercise, Landlord shall prepare an amendment of this Lease reflecting the terms of such exercise within thirty (30) days after Tenant’s written notice exercising said option.  Said right shall be subject and junior to the following rights to lease the First Refusal Space:  American Intercontinental University has an on-going right of first refusal on all space in Corridors I and II and Revenue Cycle Solutions has an on-going right of first refusal on the 5th floor in Corridors I.

 

54.                              OPTION TO EXTEND:

 

(a)                                 So long as Tenant is not in default beyond the expiration of applicable notice and cure periods, Tenant shall have an option to renew the terms and conditions of the Lease for one (1) five (5) year period upon the same terms and conditions contained herein except for rental.  Tenant shall

 

28

 

provide Landlord notice (“Tenant’s Notice”) in writing not less than nine (9) months prior to the expiration of the term hereof of its intention to exercise said option, in which event the Base Rent for such renewal period shall be equal to the fair market rental then being charged in the West Suburban East West Corridor in comparable buildings for a renewal lease of comparable size and condition of space, taking into consideration all relevant factors, including but not limited to creditworthiness of Tenant, amenities, location, submarkets, duration of term, commissions, operating costs, tenant improvements, and other incentives, if any.  Failure to so elect in the manner and time aforesaid shall render such option null and void and of no further force or effect.  Landlord shall reply to such Tenant’s notice within thirty (30) days from receipt thereof setting forth the rent and other relevant terms (“Renewal Terms”) for the applicable renewal period.  If Landlord fails to reply with Landlord’s determination of the Renewal Terms for the applicable renewal period within such thirty (30) day period, or if Tenant does not agree with Landlord’s determination of the Renewal Terms for the applicable renewal period, Tenant may elect to withdraw its exercise said option, in which event this Lease shall expire on the last day of the Lease Term or the applicable shall expire renewal term.

 

(b)                                 Provided that Tenant has not withdrawn its exercise of said option, the parties shall have thirty (30) days from the date of Landlord’s response to Tenant’s notice to agree on the proposed Renewal Terms.  In the event the parties are unable to agree upon the Renewal Terms within such thirty (30) day period of Tenant’s exercise, the parties shall then proceed as follows:  within twenty (20) days after the end of said thirty (30) day period, each party shall appoint an MAI appraiser who shall be licensed in the State of Illinois and specializes in evaluation of commercial real estate and office rents in the West Suburban East West Corridor area for property of similar age, size, and location, and has at least ten (10) years experience.  Such two (2) MAI appraisers shall each determine within thirty (30) days after their appointment the amount of the fair market rent based upon the Renewal Terms for renewal transactions to be in effect during the subject extended term.  If the two (2) MAI appraisers chosen by the parties are unable to agree on fair market rent, then the two (2) MAI appraisers shall, within five (5) days after conclusion of such twenty (20) day period, together, appoint a third similarly qualified MAI appraiser.  The third MAI appraiser shall, within ten (10) days after his or her appointment, review the reports prepared by the first two (2) MAI appraisers, conduct such additional analysis as may be appropriate, and make a determination of fair market rent.  The annual Base Rent for the allocable extended period shall be equal to the average of the two (2) determinations which are closest together, and such determination shall be final, binding, and conclusive upon the parties hereto.  The parties shall execute an  amendment to this Lease incorporating such terms.  Each party shall bear the cost of its MAI appraiser and shall equally share the cost of the third MAI appraiser.

 

55.                               CELLULAR, RADIO, MICROWAVE AND OTHER ELECTRONIC TRANSMISSION:

 

(a)                                 Tenant may use the roof of the Building for any lawful activity in connection with the provision of mobile communication for Tenant’s exclusive use, including without limitation, the transmission and the reception of radio, microwave, or other electronic communication signals on various frequencies of service.  Landlord agrees to cooperate with Tenant in making applications for and obtaining all licenses, permits and any and all other necessary approvals that may be required for this aspect of Tenant’s intended use, all of which shall be at Tenant’s sole cost and expense.  At all times during the term of the Lease, Tenant will be responsible for obtaining and maintaining any licenses or approvals that may be required from any governmental body of competent jurisdiction for this aspect of its intended

 

29

 

use.  Failure to obtain any such required licenses or approvals shall not invalidate any portion of the Lease other than those provision contained within this Section 55.  If requested by Landlord, Tenant shall provide copies of all such licenses or approvals, including copies of any forms used in making application for same.

 

(b)                                 After approval of Tenant’s specific plans by Landlord , which approval shall not be unreasonably withheld or delayed, Tenant, at its sole cost and expense, shall have the right to erect, maintain and operate radio communications facilities, including radio transmitting and receiving antennas, towers, microwave dishes and supporting structures thereto “the Tenant’s Facilities”).  In connection therewith and after Landlord’s  approval of Tenant’s specific plans and under Landlord’s reasonable direction, Tenant shall have the right to prepare, maintain and alter the roof for Tenant’s business operations and to install transmission lines connecting Tenant’s Facilities to the Building.  Tenant’s installation, construction and ongoing maintenance shall be performed in a workmanlike manner and any damage to the Building, Premises or Project done by Tenant and Tenant’s suppliers and/or subcontractors shall be reported to Landlord and shall be repaired by Tenant at its sole cost and expense.  Any Tenant Facilities installed hereunder shall meet all applicable city, county, state or other applicable ordinances and/or codes and shall not interfere with the reception of television, radio or other electronic signals or the operation of any equipment used on the Property by any other tenant or other occupants, or by owners or tenants of surrounding properties, Corridors II, and/or buildings.  Title to the Tenant Facilities shall be held by Tenant at all times.  Tenant Facilities shall remain Tenant’s personal property and are not fixtures.  Tenant has the right to remove all Tenant Facilities at is sole cost and expense on or before expiration of the term, provided that Tenant shall be responsible for repairing any damage to the Building or the Property resulting from said removal to the reasonable satisfaction of Landlord.

 

(c)                                  Tenant shall at all times operate Tenant Facilities in a manner that Tenant’s transmission will not cause interference with television, radio or other electronic signals to Landlord, to other tenants of the Building or Property, or to owners, tenants or occupants of surrounding properties, including but not limited to Corridors II, in lawful compliance with all regulations or requirements of Federal Communications Commission or any other governmental agency of competent jurisdiction.  Tenant shall hold Landlord and Landlord’s agents harmless from any and all liabilities arising out of the installation, maintenance or operation of the Tenant Facilities whether such liabilities arise (i) from interference with radio, television and other electronic reception within the Building;  (ii) from interference with the business operations of Landlord’s other tenants; (iii) from interference with the business operation or radio, television or other electronic reception in buildings surrounding or adjoining the Project; (iv) from tower or equipment breakage, collapse or failure; (v) or from any other cause directly or indirectly resulting from Tenant’s use, maintenance, installation and/or operation of the Tenant Facilities.

 

56.                               OPTION TO TERMINATE:  So long as Tenant is not in default beyond applicable notice and cure periods, Tenant shall have the right to elect to terminate the Lease effective upon November 30, 2020, upon not less than nine (9) months prior written notice.  In the event of such election, Tenant shall pay a termination fee equal to $252,380.71 payable as follows:  50% upon exercise of said option and 50% not less than thirty (30) days prior to the effective date of such termination.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

30

 

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

 

	
 
    	
 
    	
LANDLORD
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
LBUBS   2005-05 WARRENVILLE ROAD, LLC, an Illinois Limited Liability Company
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:   LNR ILLINOIS PARTNERS, LLC, an Illinois limited liability company, its   manager
    
	
Witnesses   as to Landlord:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/   Manuel Rodriguez
    	
 
    	
By:
    	
/s/   Rodolfo S. Lauredo
    
	
 
    	
 
    	
 
    	
 
    
	
Print   Name: 
    	
Manuel   Rodriguez
    	
 
    	
Name:
    	
Rodolfo   S. Lauredo
    
	
 
    	
 
    	
 
    	
 
    
	
/s/   Johannah Durow
    	
 
    	
Title:
    	
Vice   President
    
	
 
    	
 
    	
 
    
	
Print   Name: 
    	
Johannah   Durow
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
TENANT
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
AmeriQuest   Transportation Services, Inc., a New Jersey corporation, f/k/a   Ameriquest Transportation & Logistics Resources Corporation
    
	
Witnesses   as to Landlord:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/   Pamela B. Schmitt
    	
 
    	
By:
    	
/s/   Joyce
    
	
 
    	
 
    	
 
    	
 
    
	
Print   Name: 
    	
Pamela   B. Schmitt
    	
 
    	
Name:
    	
Joyce
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Title:   
    	
CFO
    
	
 
    	
 
    	
 
    
	
Print   Name:
    	
 
    	
 
    	
 
    

 

31

 

 

Schedule 1

 

Legal Description of Property

 

                           ,
 LAND & CONSTRUCTION SURVEYORS
 230 MARK STREET, BENSENVILLE, ILLINOIS 60106    (630) 595-2000    Fax (630) 595-4700
 PLAT OF SURVEY
 OF

 

THAT PART OF THE SOUTHWEST 1/4 OF SECTION 1, TOWNSHIP 38 NORTH, RANGE 10, EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED.AS FOLLOWS COMMENCING AT THE NORTHEAST CORNER OF LOT 1 IN ARTHUR T. MCINTOSH AND COMPANY’S WARRENVILLE ROAD ACRES, BEING A SUBDIVISION ACCORDING TO THE PLAT THEREOF RECORDED MAY 28, 1942 AS DOCUMENT 438043; THENCE SOUTH 01 DEGREES 37 MINUTES 40 SECONDS WEST ALONG THE EAST LINE OF SAID LOT 1, 40.56 FEET (RECORDED 41.40 FEET) TO THE SOUTHERLY LINE OF LAND TAKEN FOR WIDENING OF WARRENVILLE ROAD BY CONDEMNATION CASE NO.     ED-83 IN THE CIRCUIT COURT OF DUPAGE COUNTY, ILLINOIS, SAID POINT BEING THE POINT OF BEGINNING; THENCE NORTH 88 DEGREES 65 MINUTES 15 SECONDS EAST ALONG THE SAID SOUTHERLY LINE OF WARRENVILLE ROAD AS WIDENED, 392.74 FEET; THENCE SOUTH 85 DEGREES 09 MINUTES 37 SECONDS EAST ALONG THE SOUTHERLY LINE OF WARRENVILLE ROAD AS PLATTED PER INSTRUMENT RECORDED SEPTEMBER 12, 1940 AS DOCUMENT 414912, A DISTANCE OF 602.14 FEET TO THE NORTHEAST CORNER OF LOT 5 IN WENNLUND’S ASSESSMENT PLAT, ACCORDING TO THE PLAT THEREOF RECORDED JULY 19, 1948 AS DOCUMENT 649698; THENCE SOUTH 01 DEGREES 37 MINUTES 59 SECONDS WEST ALONG THE EAST LINE OF SAID LOT 5 IN WENNLUND’S ASSESSMENT PLAT, _09.59 FEET TO THE SOUTHEAST CORNER OF SAID LOT 5; THENCE NORTH 88 DEGREES 11 MINUTES 35 SECONDS WEST ALONG THE SOUTH LINE OF SAID LOT 5 IN WENNLUND’S ASSESSMENT PLAT, 99.64 FEET TO THE SOUTHWEST CORNER OF SAID LOT 5, BEING A POINT ON THE EAST LINE OF LOT 3 IN BLOCK 2 IN ARTHUR T. MCINTOSH AND COMPANY’S FOURTH OGDEN AVENUE SUBDIVISION, BEING A SUBDIVISION ACCORDING TO THE PLAT THEREOF RECORDED APRIL 9, 1925, AS DOCUMENT 190962; THENCE SOUTH 01 DEGREES 31 MINUTES 07 SECONDS WEST ALONG THE EAST LINE OF SAID LOT 3, A DISTANCE OF 224.09 FEET TO THE SOUTHEAST CORNER OF SAID LOT 3; THENCE. SOUTH 79 DEGREES 15 MINUTES 27 SECONDS WEST ALONG THE SOUTHERLY LINE OF LOTS 3, 4, 5 AND 6 IN BLOCK 2 IN SAID ARTHUR T. MCINTOSH AND COMPANY’S FOURTH OGDEN AVENUE SUBDIVISION 314.51 FEET TO AN INTERSECTION WITH A LINE 10.00 FEET, AS MEASURED AT RIGHT ANGLES, WEST OF AND PARALLEL WITH THE EAST LINE OF LOT 17 IN BLOCK 2 IN SAID ARTHUR T. MCINTOSH AND COMPANY’S FOURTH OGDEN AVENUE SUBDIVISION; THENCE SOUTH 01 DEGREES 06 MINUTES 38 SECONDS WEST ALONG SAID LAST DESCRIBED PARALLEL LINE, 307.71 FEET TO THE NORTHERLY LINE OF OGDEN AVENUE PER ARTHUR T. MCINTOSH AND COMPANY’S FOURTH OGDEN AVENUE SUBDIVISION; THENCE SOUTH 80 DEGREES 23 MINUTES 33 SECONDS WEST ALONG SAID NORTHERLY LINE AND THE EXTENSION THEREOF, BEING A LINE 33.0 .FEET, AS MEASURED AT RIGHT ANGLES, NORTHERLY OF AND PARALLEL WITH THE CENTER LINE OF OGDEN AVENUE, 600.94 FEET; THENCE NORTH 01 DEGREES 33 MINUTES 44 SECONDS EAST, 17.33 FEET TO AN INTERSECTION WITH A LINE 50.00 FEET, AS MEASURED AT RIGHT ANGLES, NORTHERLY OF AND PARALLEL WITH SAID CENTER LINE, 11-IF-NCE SOUTH 80 DEGREES 23 MINUTES 33 SECONDS WEST ALONG SAID PARALLEL LINE, 44.44 FEET TO THE EASTERLY LINE OF .AUTHORITY DRIVE (DEDICATION NOT YET RECORDED) AS MONUMENTED  AND OCCUPIED; THE FOLLOWING SEVEN COURSES ARE ALONG SAID EASTERLY LINE; THENCE NORTH 09 DEGREES 34 MINUTES 28 SECONDS WEST, 15.78 FEET TO A POINT OF CURVATURE IN SAID LINE; THENCE NORTHERLY ALONG A CURVED LINE CONVEX WESTERLY, HAVING A RADIUS OF 261.5_ FEET AND BEING TANGENT TO THE LAST DESCRIBED LINE, AN ARC DISTANCE OF 155.21 FEET TO A POINT OF TANGENCY IN SAID LINE (THE CHORD OF SAID ARC BEARS NORTH 07 DEGREES 25 MINUTES 32 SECONDS EAST); THENCE NORTH 24 DEGREES 25 MINUTES 32 SECONDS EAST ALONG A LINE TANGENT TO THE LAST DESCRIBED CURVED LINE, 164.31 FEET TO A POINT OF CURVATURE IN SAID LINE; THENCE NORTHERLY ALONG A CURVED LINE CONVEX EASTERLY, HAVING A RADIUS OF 560.87 FEET AND BEING TANGENT TO SAID LAST DESCRIBED LINE, AN ARC DISTANCE 360.21 FEET TO A POINT OF TANGENCY IN SAID LINE (THE CHORD OF SAID ARC BEARS NORTH 06 DEGREES 01 MINUTES 37 SECONDS EAST); THENCE NORTH 12 DEGREES 22 MINUTES 18 SECONDS WEST ALONG A LINE TANGENT TO SAID LAST DESCRIBED CURVED LINE, 189.00 FEET TO A POINT OF CURVATURE IN SAID LINE; THENCE NORTHERLY ALONG A CURVED LINE CONVEX WESTERLY, RAVING A RADIUS OF 480.87 FEET AND BEING TANGENT TO SAID LAST DESCRIBED LINE, AN ARC DISTANCE OF 117.50 FEET TO A POINT OF TANGENCY WITH THE EAST LINE OF LOT 1 IN SAID ARTHUR T. MCINTOSH AND COMPANY’S WARRENVILLE ROAD ACRES (THE CHORD OF SAID ARC BEARS NORTH 05 DEGREES 22 MINUTES 18 SECONDS WEST); THENCE NORTH 01 DEGREES 37 MINUTES 40 SECONDS EAST ALONG SAID EAST LINE OF LOT 1, BEING TANGENT TO SAID LAST DESCRIBED CURVED LINE, 60.22 FEET TO THE POINT OF BEGINNING, EXCEPTING FROM THE AFOREDESCRIBED TRACT OF LAND THE SOUTHERLY 7 FEET THEREOF CONVEYED BY WARRANTY DEED RECORDED AS DOCUMENT R99-100695 TO THE STATE OF ILLINOIS, DEPARTMENT OF TRANSPORTATION, FOR WIDENING OF OGDEN AVENUE, IN DUPAGE COUNTY, ILLINOIS.

 

COMMONLY KNOWN AS

CORRIDORS I & II

2651 - 2655 WARRENVILLE ROAD, DOWNERS GROVE, ILLINOIS

 

MATTERS OF TITLE AS SHOWN IN CHICAGO TITLE INSURANCE COMPANY

_873 DATED NOVEMBER 6, 1997.
 _DING TO LETTERED EXCEPTIONS IN SCHEDULE B OF OWNER’S POLICY

MBER 4, 1968 AND RECORDED DECEMBER 20, 1968 AS DOCUMENT R68-59201,

 

 

SCHEDULE 2

 

FLOOR PLAN OF PREMISES

 

 

33

 

SCHEDULE 3

 

CONSTRUCTION RIDER

 

This Rider sets forth the rights and obligations of the parties with respect to the initial tenant improvements (“Tenant Improvements”) prior to the Commencement Date under that certain lease (the “Lease”) by and between LBUBS 2005-05 (the SPE), (“Landlord”), and Ameriquest (“Tenant”) of the Premises from Landlord in the Building located at Corridors 1, 2651 Warrenville Road, Downers Grove, IL.  All construction done subsequent to the initial Tenant Improvements shall be governed by the provisions of the Lease.  The words “Premises”, “Building”, “Term”, and other capitalized or defined terms as used herein shall have the respective meanings assigned to them in the Lease, except as otherwise provided or defined herein.

 

Landlord and Tenant agree as follows:

 

1.

 SHELL AND CORE WORK

 

Landlord has constructed the shell and core of the Building as generally described in the Tenant Information Manual, a copy of which has heretofore been delivered to Tenant.

 

2.

 TENANT IMPROVEMENTS

 

Tenant shall perform all work required to prepare the Premises for occupancy by Tenant (the “Tenant Improvements”).  The Tenant Improvements shall be performed pursuant to the Tenant Information Manual, Plans and Specifications prepared by Tenant and approved by Landlord as hereinafter provided.

 

3.

 TENANT’S PLANS AND SPECIFICATIONS

 

A.                                    Tenant will cause Tenant’s Architect and the Consulting Engineers (as such terms are hereinafter defined), to prepare architectural and engineering plans and specifications for the Tenant Improvements (the “Plans and Specifications”) and submit the same, as approved by Tenant, to Landlord for Landlord’s approval, which shall not be unreasonably withheld, conditioned, or delayed.  The Plans and Specifications shall include (i) reflected ceiling plans, (ii) dimensioned partition and door location plans, (iii) finish plans, (iv) furniture partition layout plans, (v) telephone and electrical plans noting any special lighting and power load requirements, (vi) HVAC design criteria and all security and communications information, (vii) demolition plans (viii) detail plans, (ix) mechanical, plumbing, electrical and fire protection/life safety plans and (x) structural and engineering drawings and calculations.  The Plans and Specifications shall be suitable in all respects for bidding and construction

 

B.                                    As used herein, the term “Tenant’s Architect” shall mean                  and the term “Consulting Engineers” shall mean                                as mechanical/electrical/plumbing/fire protection (MEP/FP) engineer.  Tenant understands and agrees that the third party architect and engineering cost for review of plans, incurred by Landlord, if any, shall be paid by Tenant.  If the Tenant Improvements could in Landlord’s reasonable opinion adversely affect Building systems or the Building structure, Landlord may engage other consultants to review the plans and specifications, and the reasonable out-of-pocket cost of such additional consultants shall also be borne by Tenant.

 

C.                                    Landlord shall advise Tenant within ten (10) days after receipt of the Plans and Specifications of its approval or disapproval thereof, and, if Landlord does not approve any of the Plans and Specifications, of the changes required in the same so that they will meet Landlord’s approval.  If Landlord disapproves any of the Plans and Specifications, Tenant shall deliver, or cause Tenant’s Architect and/or the Consulting Engineers to deliver to Landlord, revised Plans and Specifications, which respond to Landlord’s requests for changes and are

 

34

 

suitable for bidding and construction.  If the revised Plans and Specifications do not respond to Landlord’s requests for changes, Tenant shall make further changes as reasonably requested by Landlord until the Plans and Specifications have been approved by Landlord and are suitable for bidding and construction.  This iterative process shall continue until all parties agree upon the Plans and Specifications for the Tenant Improvements.  Landlord shall approve or disapprove in whole or in part all revised Plans and Specifications received from Tenant within five (5) days following receipt thereof from Tenant.  The revised Plans and Specifications, once they have been approved or deemed approved by Landlord, are hereinafter referred to as the “Final Plans and Specifications.”

 

D.                                    Tenant agrees that Landlord shall not have unreasonably disapproved the Plans and Specifications if they:  (i) would not be consistent with the architectural character of the Building; (ii) will adversely affect the structure of the Building, the heating, air-conditioning and ventilating system or electrical, mechanical, plumbing, life safety or other lines or systems in the Building or the Building circuitry; (iii) will materially increase Landlord’s costs of operating and maintaining the Building, it being understood that Tenant shall pay all increases in the costs of operating or maintaining the Building which result from the Tenant Improvements provided that Landlord has advised Tenant that such proposed work will increase said costs at the time Landlord grants its consent to such, and that Landlord may require removal of any such Tenant Improvements (if Landlord shall have designated such work as being subject to removal pursuant to the Lease) after the expiration or other termination of the Term; (iv) would adversely modify the appearance of the Building as viewed from the exterior of the Premises; or (v) would violate the terms of any applicable zoning or building laws or ordinances or other governmental orders or requirements or land use restrictions of record; provided, however, that the foregoing are merely examples of reasons for which Landlord may withhold its approval and shall not be deemed exclusive of any permitted reasons for reasonably withholding consent, whether similar or dissimilar to the foregoing examples.

 

E.                                     The permanent Tenant Improvements that cannot be removed from Premises, whether placed there by Tenant or Landlord, shall, unless Landlord otherwise directs, become the property of Landlord and shall remain upon the Premises without compensation, allowance or credit to Tenant.  Tenant may remove all unattached trade fixtures and Tenant’s property, business equipment, and related items so long as the Premises are restored to the condition in which they existed at the Commencement Date and to “broom clean” condition, reasonable wear and tear and damage by condemnation, fire or other casualty excepted.  If upon the direction of Landlord pursuant to the Lease, Tenant is required to remove any of said Tenant Improvements, Tenant shall pay the expense of such removal and restoration of the Premises upon expiration or termination of the Term, provided Tenant may request in writing at the time it submits its Plans and Specifications to Landlord, that Landlord notify Tenant whether on or before it approves such Plans and Specifications as to whether or not it will require removal.

 

4.

 LANDLORD’S CONTRIBUTION

 

A.                                    Landlord shall provide the Premises in its “as-is” condition.  Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Tenant’s contractors, or jointly to Tenant and Tenant’s contractors.  Landlord’s Contribution shall be payable within 60 days after presentation of invoices and

 

B.                                    upon Tenant’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.

 

C.                                    Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).

 

D.                                    For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or

 

35

 

demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.

 

E.                                     For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Landlord; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements.  Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility.  Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease.  Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements.  Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.

 

F.                                      The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements.  Tenant shall provide, for that work for which Tenant will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto.  Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.

 

G.                                    As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Tenant’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.

 

H.                                   It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.

 

5.

 CONSTRUCTION OF TENANT IMPROVEMENTS

 

A.                                    Following approval of the Final Plans and Specifications, Tenant shall have the right to solicit bids from qualified and approved General Contractors for the Tenant Work.  The General Contractor for the Tenant Improvements shall be subject to Landlord’s prior written approval, which approval shall not be unreasonably withheld or delayed, provided however, Landlord reserves the right not to approve a General Contractor which is, or is affiliates with, another real estate developer.  Tenant shall also submit to Landlord a list of subcontractors which Tenant or its General Contractor proposes to use and Landlord shall have the right to approve such subcontractors, which approval shall not be unreasonably withheld or delayed.  Without exception, Landlord requires that its contractor Simplex be utilized to make the appropriate connection to the fire alarm panel.  Further, Landlord’s contractor Automatic Building Controls must be utilized to integrate fan powered boxes into the Building Automation System at Tenant’s sole expense. Landlord agrees to use its best efforts to cause such contractors

 

36

 

to bill for such services at market rates.  Tenant shall not permit or cause the General Contractor to utilize any subcontractor not so approved by Landlord without first submitting the name of such other subcontractor to Landlord for its reasonable approval as aforesaid.  Landlord shall notify Tenant within five (5) business days following submission of the name of a proposed contractor or subcontractor of the approval or disapproval of such contractor.  All contractors and subcontractors for the Tenant Improvements shall be licensed, of good reputation, have a demonstrated capability to perform quality workmanship, have financial capacity to complete the work, be experienced in performing work of the type contemplated in similar class office buildings, be familiar with high-rise construction to the extent relevant, be capable of working in harmony with other contractors in the Building, have good labor and minority relations, utilize union labor and be bondable (even though bonds shall not be required).  Landlord shall not unreasonably withhold its approval of contractors or subcontractors who meet the foregoing standards; provided, however, that failure to meet the foregoing standards are merely examples of reasons for which Landlord might reasonably withhold approval, whether similar or dissimilar to the foregoing examples.  Tenant shall deliver to Landlord copies of all contracts proposed to be executed by Tenant for the Tenant Improvements, which shall require the General Contractor to comply with the requirements of this Paragraph 5 and the Tenant Information Manual.  The General Contractor shall obtain all required building and other permits and otherwise comply with all laws and governmental rules and regulations with respect to or in any manner applicable to the Tenant Improvements and other construction in the Premises at all times prior to, during and following said work, the cost of which shall be a cost of the Tenant Improvements payable from the Landlord’s Contribution to the extent thereof.

 

B.                                    Subject to all of the terms and conditions of this Rider, Tenant shall commence the Tenant Improvements promptly upon tender of possession of the Premises to Tenant and approval of the Final Plans and Specifications by Landlord and diligently proceed with the Tenant Improvements.  Possession of the Premises shall be tendered to Tenant upon Landlord’s execution and delivery of the Lease and this Rider to Tenant.

 

6.

 CHANGES IN THE TENANT IMPROVEMENTS

 

Tenant shall deliver to Landlord for approval, which shall not be unreasonably withheld, conditioned or delayed all changes in the Final Plans and Specifications as are made by Tenant, Tenant’s Architect or the Consulting Engineers from time to time and shall advise Landlord of any changes in the cost of the Tenant Improvements or any amendments which increase the cost of the Tenant Improvements in any respect.  Tenant shall pay any amount required to cover the additional cost of the Tenant Improvements resulting from such changes which exceeds the available portion of Landlord’s Contribution as provided in Paragraph 4 of this Rider.  The reasonableness of disapproval of any such change shall be judged according to the criteria set forth in Paragraph 3 hereof for the Tenant Improvements initially provided for the Plans and Specifications, and Landlord shall review and approve or disapprove any changes as soon as possible so as to avoid any delay in construction of the Tenant Improvements but in any event within the time periods with respect to its approval or disapproval of any revision of the initial Plans and Specifications as provided in Paragraph 3 hereof.

 

7.

 ACCESS BY TENANT

 

A.                                    Landlord shall permit Tenant, Tenant’s Contractor(s) and Tenant’s agents, suppliers, and workmen to take possession of and enter the Premises, pursuant to the Lease, upon compliance with the requirements of this Rider by Tenant, including, without limitation, the insurance requirements.  The permission herein granted for the entry of Tenant and Tenant’s Contractor(s) into the Building is conditioned upon Tenant and Tenant’s agents, contractors, workmen, suppliers and invitees working in harmony with and not interfering with Landlord’s contractors or their subcontractors or with contractors performing work in the Building for other tenants or occupants, not interfering with any occupants of the Building, complying with reasonable rules and regulations instituted by Landlord for the protection and completion of such work for other tenants or occupants.  Landlord will use reasonable efforts to cause contractors performing work for other tenants or occupants in the Building not to unreasonably interfere with Tenant’s contractors, but shall in no event have any liability with respect to any interference.  If

 

37

 

at any time such entry shall cause disharmony or unreasonable interference with any of Landlord’s employees, agents, contractors, their subcontractors, other tenants or occupants of the Building or others or if such disharmony or interference shall, in Landlord’s reasonable judgment, be imminently threatened, Landlord shall have the right to withdraw such permission upon not less than forty-eight (48) hours written notice; provided, however, that such permission shall remain in effect if Tenant has cured the same (or such interference or disharmony has ceased and Tenant has agreed and provided assurances to Landlord as it shall have reasonably requested, that such problem will not occur again) prior to the time of termination set forth in such notice.  Tenant agrees that any such entry into and occupation of the Premises shall be deemed to be under all of the terms, covenants, conditions and provisions of the Lease, except as to covenant to pay Base Rent and Additional Rent, and further agrees that in connection therewith Landlord shall not be liable in any way for any injury, loss or damage which may occur to any property placed in the Premises, the same being strictly at Tenant’s sole risk, except to the extent caused by the gross negligence or willful misconduct of Landlord or Landlord’s agents, employees or contractors.  Tenant shall allow Landlord access to the Premises, for inspection purposes, at all reasonable times.  Tenant shall cause its contractors, for which it has contracted separately, prior to the commencement of any construction work in the Building, to indemnify, defend and hold Landlord, its designated agents, members, beneficiaries, partners, Management Agent, mortgagees, and all of their respective members, partners, shareholders, directors, officers, agents and employees harmless from all damages, claims, liability, and costs (including, without limitation, reasonable attorney’s fees) and expenses arising out of or connected with the activities of such contractor or any of its subcontractors or any of their respective agents or employees, suppliers or workmen in or about the Premises or the Building.  Tenant shall (except to the extent of any indemnity recovered pursuant to the preceding sentence) indemnify, defend and hold Landlord, its designated agents, or any of its members, beneficiaries, partners, Management Agent, mortgagees, and all of their respective partners, members, shareholders, directors, officers, agents and employees harmless from all damages, claims, liability, and costs (including, without limitation, reasonable attorney’s fees) and expenses arising out of or connected with the activities of Tenant or its agents, contractors, suppliers or workmen in or about the Premises or the Building.  In addition, prior to the initial entry to the Building or the Premises by Tenant and by each contractor or subcontractor for Tenant, Tenant shall furnish Landlord with certificates of insurance covering Landlord, its designated agents, or any of its beneficiaries and the partners thereof, Management Agent, mortgagees and such additional parties as Landlord may reasonably designate as additional insured parties, with such coverages and in such amounts as Landlord may reasonably require in order to insure Landlord, its designated agents, or any of its beneficiaries and the partners thereof, its management agent, mortgagees and such additional parties, and all of their respective agents and employees, against liability for injury or death or damage to property of Landlord or its tenants or others, by reason of such entry or any activity or work carried on, in, on or about the Land, the Building or the Premises by or on behalf of Tenant.

 

B.                                    Notwithstanding Tenant’s right to separately contract for construction and completion of the Tenant Improvements, Tenant shall coordinate, and cause its contractors to coordinate with Landlord and its designated agents in relation to the scheduling of the days and times of construction, the use of Building loading docks, the delivery of materials and labor for the Premises, the elimination of rubbish and construction debris, and the days and times designated for the undertaking of any portion of the tenant improvements which will cause significant noise, vibration, or other conditions which might interfere with the business operations of other tenants or occupants of the Building taking into account the nature of such tenant or occupant’s business operations.  Tenant shall cause Tenant’s Architect to furnish to Landlord from time to time such other information as Landlord shall reasonably request in connection with the construction of the Tenant Improvements.  Tenant shall require all contractors and subcontractors performing work on behalf of Tenant to provide protection against damage to the Building and work of other tenants or occupants to an extent that is satisfactory to Landlord in the reasonable exercise of its discretion.  In any event, however, if such damage shall occur, and shall have been caused directly by Tenant or its contractors or any of their respective subcontractors, agents, employees or invitees, Tenant shall promptly restore and repair, or cause its contractor to promptly restore and repair, such damage, or Landlord or Landlord’s contractor may, at Landlord’s option and upon written notice to Tenant, restore and repair any such damage or permit any other tenant or its contractor to restore work for such tenant or occupant which has been damaged, in each case at Tenant’s sole cost.

 

38

 

8.

 SERVICES

 

The cost of the Tenant Improvements shall include (and Landlord is hereby authorized to pay the same from the Landlord’s Contribution to the extent thereof), all materials or utilities which are supplied by Landlord or their agents in connection with the construction of the Tenant Improvements and at Tenant’s request; provided, however, that Landlord shall make available to Tenant, at no charge other than the cost of labor provided by Landlord for Building security purposes, during the construction period, use of freight elevator, use of loading dock and dumpster space.  Notwithstanding, Tenant shall be responsible to provide its own dumpsters.

 

9.

 INSURANCE

 

Tenant or Tenant’s Contractor shall be responsible to provide Builder’s Risk coverage in respect to the Tenant Improvements during the period of its construction, prior to the commencement of the Term.  Prior to taking possession of the space for any purpose whatsoever, Tenant shall provide Landlord with evidence of all insurance required in accordance with the Lease.

 

10.

 MISCELLANEOUS

 

A.                                    After completion of the Tenant Improvements any work or alterations to the Premises desired by Tenant other than the Tenant Improvements shall be subject to the provisions of the Lease and not this Rider.

 

B.                                    Time is of the essence under this Rider.

 

C.                                    Any person signing this Rider on behalf of Landlord or Tenant warrants and represents they have authority to do so.

 

D.                                    Landlord has no agreement with Tenant and has no obligation to do any work with respect to the Premises, except as expressly set forth in this Rider and the Lease.

 

E.                                     With respect to any amounts owed by Tenant hereunder and not paid when due (which shall bear interest as provided in the Lease in the case of delinquent rents) or Tenant’s failure to perform its obligations hereunder, Landlord shall have all of the rights and remedies granted to Landlord under the Lease for nonpayment of any amounts owed by Tenant thereunder or failure by Tenant to perform its obligations thereunder, and such nonpayment or other failure hereunder shall constitute a default by Tenant under the Lease (after notice and failure to cure as provided in the Lease).  Any amount owed hereunder by Tenant to Landlord and not paid when due shall bear interest as provided in the Lease, and shall be deemed additional rent under the Lease.  In the event of any default by Tenant under the terms of this Rider, whether monetary or non-monetary, after notice and failure to cure as provided in the Lease, Landlord shall have all of the rights and remedies available at law or in equity, including but not limited to the right to withhold possession of the Premises from the Tenant so long as Tenant is in default.

 

F.                                      Tenant’s General Contractor is responsible for removal of all construction debris, general clean-up and a final cleaning prior to Tenant’s occupancy.

 

G.                                    The parties hereto hereby designate a representative who shall have the power and authority to make any and all decisions on behalf of the respective parties and designate another representative(s) on their behalf.  Unless a party is otherwise advised in writing by the other, their respective representatives shall be as follows:

 

Landlord:

Tenant:

 

39

 

H.                                   All the covenants and conditions to be performed hereunder are the obligations of the parties, and no personal liability shall be asserted or be enforceable against, the members, beneficiaries, shareholders, officers, directors, or partners, thereof, nor any of their respective members, partners, shareholders, directors, officers, agents or employees by reason of any of the covenants, statements, representations or warranties contained in this instrument.  All of the further exculpatory provisions of the Lease are incorporated here in as if fully set forth herein and are fully applicable to this Rider as if fully set forth.

 

ATTACHMENT B

 

 

40

 

 

Attachment C

 

Scope Clarifications

 

AMERIQUEST

PRELIMINARY OUTLINE SPECIFICATION — 1-25-2012

Corridors I

2651 Warrenville Road

Downers Grove, IL

 

1.                                      Demolition

a.                                      Remove carpet thru-out

b.                                      Existing drywall partition between MD P.O./SMPO

c.                                       New door openings MD P.O. and conference room per plan

d.                                      Remove existing folding partition .in conference room and framing below ceiling

 

2.                                      Drywall

a.                                      Per plan, new partitions floor to acoustic ceiling, metal  studs, 24” o.c., 5/8” drywall taped and sanded both sides

 

3.                                      Doors

a.                                      Furnish and install new building standard 1 3/4” solid core wood doors in building standard frame as required.  Match existing.

b.                                      Hardware to include butt hinges, wall stops, lock or latch sets as scheduled.

 

4.                                      Flooring

a.                                      Furnish and install glue down carpet, building standard or equal. ($26.50/sy allowance, furnished and installed, tax included)

b.                                      Furnish and install vinyl base, match existing for new partitions.

c.                                       Existing SCT Flooring in production room, break room and server/storage room as is.

 

5.                                      Painting

a.                                      New partitions to receive one (1) prime coat and one (1) finish coat latex egg shell paint

b.                                      Existing walls — one (1) finish coat latex egg shell

c.                                       New doors — finish to match existing

d.                                      Existing doors as is

 

6.                                      Sprinklers—Design Build

a.                                      Relocate existing heads as required for new floor plan

b.                                      As required, add new heads to match existing

 

7.                                      Fire Alarm-Design Build

a.  Relocate existing heads as required for new floor plan

b.  As required, add new heads to match existing

 

 

a.  Per code requirement

 

8.  HVAC-Design Build

a.                                      Re-work existing duct layout as required for new room layout

b.                                      Relocate and furnish grills and diffusers to match existing

c.                                       Existing areas as is

 

9.  Electric-Design Build

a.                                      Relocate existing 2 x 4 lighting fixtures per new office layout.  Furnish and install fixtures to match, as required.

b.                                      Furnish and install duplex convenience outlet as required for new office layout.

c.                                       Furnish and install telephone outlet stubs as required for new office layout.

d.                                      Furnish and install motion sensor light switches required for new office layout

e.                                       Re-wire light fixtures for individual switching as required for new office layout.

f.                                        Add/relocate exit lights as required for new office layout.

g.                                       Low voltage and I.T. work by tenant.

 

10.  Code Compliance

a.                                      Smoke Detectors

i.                                          Furnish and install smoke detectors on the basis of one (1) for each assembly room and one (1) for each 900 sf open space

b.                                      Horns, Strobes

I.                                        Add or relocate as required for new layout.

 

11.  General Requirements

a.                                      Architectural, HVAC and Electrical Construction documents.

b.                                      Building permit

c.                                       Supervision

d.                                      Clean-up — New and existing area

e.                                       Furnish dumpsters

 

12.  Work Stations

a.                                      Furnished and installed by tenant

b.                                      Electrical installation required for workstations by tenant.

 

###

 

 

SCHEDULE 5

 

RULES AND REGULATIONS

 

1.                                      In the event of any conflict between the terms of these rules and regulations and the express provisions of the Lease, the express, applicable provisions of the Lease shall control.  Landlord reserves the right, without the approval of Tenant, to rescind, add to and amend any rules or regulations, to add new reasonable rules or regulations and to waive any rules or regulations with respect to any tenant or tenants.  Tenant shall provide a copy of these rules and regulations to each of its employees to facilitate compliance with these standards.

 

2.                                      The sidewalks, walks, plaza entries, corridors, ramps, staircases and elevators of the Project shall not be obstructed, and shall not be used by Tenant, or the employees, agents, servants, visitors or invitees of Tenant, for any purpose other than ingress and egress to and from the Premises.  No skateboards, roller skates, roller blades or similar items shall be used in or about the Project.

 

3.                                      No freight, furniture or other large or bulky merchandise or equipment of any description will be received into the Project or carried into the elevators, if any, except in such a manner, during such hours and using such elevators and passageways as may be approved or designated by Landlord, and then only upon having been scheduled in advance.  Any hand trucks, carryalls, or similar equipment used for the delivery or receipt of merchandise or equipment shall be equipped with rubber tires, side guards and such other safeguards as Landlord shall reasonably require.  Although Landlord or its personnel may participate or assist in the supervision of such movement, Tenant assumes financial responsibility for all risks as to damage to articles moved and injury to persons or public engaged or not engaged in such movement, including any equipment, property or personnel of Landlord damaged or injured in connection with carrying out this service for Tenant.

 

4.                                      Landlord shall have the right to prescribe the weight, position and manner of installation of safes or other heavy equipment which shall, if considered necessary by Landlord, be installed in a manner which shall insure satisfactory weight distribution.  All damage done to the Project by reason of a safe or any other article of Tenant’s office equipment being on the Premises shall be repaired at the expense of Tenant.  The time, routing and manner of moving safes or other heavy equipment shall be subject to prior approval by Landlord.

 

5.                                      Only persons authorized by Landlord will be permitted to furnish ice, towels, barbering, shoe shining, janitorial services, floor polishing and other similar services and concessions in the Project, and only at hours and under regulations fixed by Landlord.

 

6.                                     Tenant, or the employees, agents, servants, visitors or invitees of Tenant, shall not at any time place, leave or discard any rubbish, paper, articles or object of any kind whatsoever outside the doors of the Premises or in the corridors or passageways of the Project.

 

7.                                      Tenant shall not place, or cause or allow to be placed, any sign, placard, picture, advertisement, notice or lettering whatsoever, in, about or on the exterior of the Premises, Building or Project, except in and at such places as may be designated by Landlord and consented to by Landlord in writing.  Any such sign, placard, advertisement, picture, notice or lettering so placed without such consent may be removed by Landlord without notice to and at the expense of Tenant.  All lettering and graphics on corridor doors shall conform to the building standard prescribed by Landlord.

 

8.                                      Tenant shall not place, or cause or allow to be placed, any satellite dish, communications equipment, computer or microwave receiving equipment, antennae or other similar equipment about or on the exterior of the Premises, Building or Project.  Any such equipment so placed may be removed by Landlord without notice to and at the expense of Tenant.

 

43

 

9.                                      Canvassing, soliciting or peddling in the Building and/or Project is prohibited and Tenant shall cooperate reasonably to prevent same.

 

10.                               Landlord shall have the right to exclude any person from the Project, and any person in the Project will be subject to identification by employees and agents of Landlord.  Any persons in or entering the Project shall be required to comply with the security policies of the Project, including, without limitation, the showing of suitable identification and signing of a Building register when entering or leaving the Building.  If Tenant desires additional security service for the Premises, Tenant shall have the right (with advance written consent of Landlord) to obtain such additional service at Tenant’s sole cost and expense.  Tenant shall keep doors to unattended areas locked and shall otherwise exercise reasonable precautions to protect property from theft, loss or damage.  Landlord shall not be responsible for the theft, loss or damage of any property or for any error with regard to the exclusion from or admission to the Project of any person.  In case of invasion, mob, riot or public incitement, the Landlord reserves the right to prevent access to the Project during the continuance of same by closing the doors or taking other measures for the safety of the tenants and protection of the Project and property or persons therein.

 

11.                               Only workmen employed, designated or approved by Landlord may be employed for repairs, installations, alterations, painting, material moving and other similar work that may be done in or on the Project.

 

12.                               Tenant shall not bring or permit to be brought or kept in or on the Premises or Project any inflammable, combustible, corrosive, caustic, poisonous, or explosive substance, or firearms, or cause or permit any odors to permeate in or emanate from the Premises, or permit or suffer the Project to be occupied or used in a manner offensive or objectionable to Landlord or other occupants of the Project by reason of light, radiation, magnetism, noise, odors and/or vibrations.

 

13.                               Tenant shall not mark, paint, drill into, or in any way deface any part of the Project or the Premises.  No boring, driving of nails or screws, cutting or stringing of wires shall be permitted, except with the prior written consent of Landlord, which consent shall not be unreasonably withheld or delayed.  Tenant shall not install any resilient tile or similar floor covering in the Premises, except with the prior approval of Landlord, which approval shall not be unreasonably withheld or delayed.

 

14.                               No additional locks or bolts of any kind shall be placed on any door in the Project or the Premises and no lock on any door therein shall be changed or altered in any respect.  Tenant shall not make duplicate keys.  All keys shall be returned to Landlord upon the termination of this Lease and Tenant shall give to Landlord the explanations of the combinations of all safes, vaults and combination locks remaining with the Premises.  Landlord may at all times keep a pass key to the Premises.  All entrance doors to the Premises shall be left closed at all times and left locked when the Premises are not in use.

 

15.                              Tenant shall give immediate notice to Landlord in case of known theft, unauthorized solicitation or accident in the Premises or in the Project, or of known defects therein or in any fixtures or equipment, or of any known emergency in the Project.

 

16.                               Tenant shall not use the Premises or permit the Premises to be used for photographic, multilith or multigraph reproductions, except in connection with its own business and not as a service for others without Landlord’s prior written permission.

 

17.                               No animals or birds shall be brought or kept in or about the Project, with the exception of guide dogs accompanying visually handicapped persons.

 

18.                               No awnings, draperies, shutters or other interior or exterior window coverings that are visible from the exterior of the Building or from the exterior of the Premises within the Building may be installed by Tenant without Landlord’s prior written consent.

 

19.                               Tenant shall not place, install or operate within the Premises or any other part of the Project any engine, stove, or machinery, or conduct mechanical operations therein, without the written consent of Landlord.

 

44

 

20.                               No portion of the Premises or any other part of the Project shall at any time be used or occupied as sleeping or lodging quarters.

 

21.                               Tenant shall at all times keep the Premises neat and orderly.

 

22.                               The toilet rooms, urinals, wash bowls and other apparatus shall not be used for any purpose other than that for which they were constructed and no foreign substance of any kind whatsoever shall be thrown therein.  The expenses of any breakage, stoppage or damage, resulting from the violation of this rule shall be borne by the Tenant who (or whose employees or invitees) shall have caused such damage.

 

23.                               All tenant modifications resulting from alterations or physical additions in or to the Premises must conform to all applicable building and fire codes.  Tenant shall obtain written approval from the management office prior to commencement of any such modifications and shall deliver as built plans to the management office upon completion.

 

24.                               Tenant agrees to place all indoor potted plants requiring water within a container capable of collecting any water overflow, such containers to be approved and/or supplied by Landlord, at Tenant’s sole expense.  Tenant agrees to use caution so that indoor plants do not damage or soil the Premises.

 

25.                               Tenant shall not park (and shall insure that Tenant’s employees, agents, and invitees do not park) in any reserved parking space other than those reserved parking spaces, if any, specifically assigned to Tenant.  Any vehicle improperly parked, or parked in any unauthorized parking area in the Project, shall be towed at the vehicle owner’s expense and without further or additional notice.

 

26.                               Persons using the Parking Garage do so at their own risk.  Landlord specifically disclaims all liability, except when caused solely by its gross negligence or willful misconduct, for any personal injury incurred by users of the Parking Garage, their agents, employees, family, friends, guests or invitees, or as a result of damage to, theft of, or destruction of any vehicle or any contents thereof, as a result of the operation or parking of vehicles in the Parking Garage.

 

27.                               Smoking is prohibited in the Premises, Building and Project except in specifically marked areas designated by Landlord.

 

45

 

SCHEDULE 6

 

TENANT ACCEPTANCE LETTER

 

This declaration is hereby attached to and made part of the Lease dated                  entered into by and LBUBS 2005-05 WARRENVILLE ROAD, LLC, an Illinois Limited Liability Company, as Landlord and                                                                      as Tenant.

 

1.                                      The undersigned, as Tenant, hereby confirms as of the              day of                 , 20         the following:

 

2.                                      Tenant has accepted possession of the Premises on                                            and is currently able to occupy the same.

 

3.                                      The Commencement Date as defined in the Lease is                                                     .

 

4.                                      The Rent Commencement Date, as defined in the Lease, is                                                   .

 

5.                                      The Expiration Date of the Lease is                                                 .

 

6.                                      All alterations and improvements required to be performed by Landlord pursuant to the Terms of the Lease to prepare the entire Premises for Tenant’s initial occupancy have been satisfactorily completed, except for the following:                     

 

7.                                      As of the date hereof, Landlord has fulfilled all of its obligations under the Lease.

 

8.                                      The Lease is in full force and effect and has not been modified, altered, or amended, except pursuant to any instruments described above, if any.

 

9.                                      There are no offsets or credits against Base Rent or Additional Rent, nor has any Base Rent or Additional Rent been prepaid except as provided pursuant to the Terms of the Lease.

 

10.                               Tenant has no notice of any prior assignment, hypothecation, or pledge of the Lease or any Rents due under the Lease

 

	
TENANT:
    	
 
    
	
By:
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
Title:
    	
 
    	
 
    

 

46

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00251-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00251-of-00352.parquet"}]]