SEC Contract Filing

Filing Date: 2024-11-13

Document Content:
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<TYPE>EX-10.11
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<FILENAME>exhibit1011officeleaseag.htm
<DESCRIPTION>EX-10.11
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<DIV><FONT size="1" style="font-size:1pt;color:white"> 10055 Grogans Mill Road Office Lease Between PARKWOOD 2, LLC (&#8220;Landlord&#8221;) And TWFG Holding Company, LLC (&#8220;Tenant&#8221;) Docusign Envelope ID: 9F281A1E-9C97-4CC4-A55B-69F178D46B5A </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white"> -1- 10055 GROGANS MILL ROAD OFFICE LEASE FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which are acknowledged, the Landlord named below leases to the Tenant named below, and Tenant leases from Landlord, the Premises described below pursuant to this Office Lease (this &#8220;Lease&#8221;) entered into effective as of the Date of Lease specified below: 1. BUSINESS POINTS. The key business terms used in this Lease are defined as follows: (a) &#8220;Date of Lease&#8221;: November 12, 2024 (b) &#8220;Landlord&#8221;: PARKWOOD 2, LLC, a Texas limited liability company. (c) &#8220;Tenant&#8221;: TWFG Holding Company, a Texas limited liability company. (d) &#8220;Building&#8221;: Office building commonly known as &#8220;10055 Grogans Mill Road&#8221;; Street Address: 10055 Grogans Mill Road, The Woodlands, Texas 77380. RSF of the Building: 101,056. RSF = Rentable Square Feet (pursuant to Paragraph 3(a)) (e) &#8220;Premises&#8221;: Suites 100, 200 and 500, on the first, second and fifth floors of the Building, as shown on the floor plan attached as Exhibit &#8220;B&#8221;. RSF of the Premises: 28,971. (f) &#8220;Term&#8221;: One Hundred Twenty (120) months, subject to Paragraph 4. (g) &#8220;Commencement Date&#8221;: Estimated to be December 1, 2024, subject to Paragraph 4. (h) &#8220;Base Rent&#8221;: Months of Term Annual Base Rent Rate/RSF Monthly Base Rent CD through ED* $10.00 $24,142.50 *Subject to abatement rights provided in Paragraph 6(b) below. CD = Commencement Date (pursuant to Paragraph 4) ED = Expiration Date (pursuant to Paragraph 4) Month - A full calendar month for example, if the Commencement Date occurs on September 21, Month 1 will be October 1 through October 31, Month 2 will be November 1 through November 30, and so on. (i) &#8220;Security Deposit&#8221;: $24,142.50 (payable upon execution of the Lease). (j) &#8220;Parking Spaces&#8221;: Landlord agrees to make available to Tenant (i) one hundred and five (105) unreserved, non-exclusive automobile parking spaces, at no cost to Tenant, and (ii) of the unreserved parking, up to twenty (20) may be designated as reserved (during the hours Docusign Envelope ID: 9F281A1E-9C97-4CC4-A55B-69F178D46B5A </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white"> -2- specified in Paragraph 8(c)) automobile parking spaces (&#8220;Reserved Spaces&#8221;), in locations determined by Landlord in the parking facilities (&#8220;Parking Facilities&#8221;) now or hereafter serving the Project (as defined herein). (k) &#8220;Permitted Use&#8221;: General office use and such other uses that are incidentally related thereto, subject to Paragraph 9(a). (l) &#8220;Tenant&#8217;s Broker&#8221;: N/A. (m) Addresses: LANDLORD&#8217;S ADDRESS FOR NOTICE: Parkwood 2, LLC c/o The J. Beard Property Management Company, LLC 10077 Grogans Mill Road, Suite 135 The Woodlands, Texas 77380 Attention: Misty Kelly, Executive Director of Property Management Telephone: (281) 367-2220, Ext. 138 E-Mail: Misty.Kelly@svn.com with a copy to: Parkwood 2, LLC 1201 Lake Woodlands Dr., Suite 4020 The Woodlands, Texas 77380 Attention: Richard F. Bunch III E-Mail: gordy@twfg.com TENANT&#8217;S ADDRESS FOR NOTICE PRIOR TO THE COMMENCEMENT DATE: TWFG Holding Company, LLC 1201 Lake Woodlands Drive, Ste 4020 The Woodlands, Texas 77380 Attention: Richard F. Bunch III Telephone: 281-466-1123 E-Mail: gordy@twfg.com LANDLORD&#8217;S ADDRESS FOR PAYMENTS: Parkwood 2, LLC c/o The J. Beard Property Management Company, LLC 10077 Grogans Mill Road, Suite 135 The Woodlands, Texas 77380 Attention: Misty Kelly TENANT&#8217;S ADDRESS FOR NOTICE ON AND AFTER THE COMMENCEMENT DATE: The Premises Attention: Richard F. Bunch III Telephone: 281-466-1123 E-Mail: gordy@twfg.com 2. INTERPRETING THIS LEASE. (a) Usage of Certain Words. Bold italicized print in quotation marks, e.g., &#8220;Transfer&#8221;, indicates definition of a term. A defined term includes all grammatical variations which are also shown with initial capital letters. For example, the defined word &#8220;Transfer&#8221; includes &#8220;Transferee&#8221;, &#8220;Transferring&#8221;, &#8220;Transferred&#8221;, etc., as grammatically appropriate in the Docusign Envelope ID: 9F281A1E-9C97-4CC4-A55B-69F178D46B5A </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white"> -3- text. Cross-references to other provisions of this Lease are in bold print following the word &#8220;Paragraph&#8221;. The word &#8220;including&#8221; shall not be construed r