SUPPLEMENTAL - ADDITIONAL SPACE
(1)
Additional Space
Landlord hereby grants to Tenant the right to lease up to usable square feet
of space contiguous to the Premises upon the following terms and conditions:
(a) Landlord shall make available to lease by tenant commencing no
earlier than , nor later than
, certain space designated as Space X
consisting of approximately square feet
as crosshatched in blue on Exhibit A.
(b) No later than four (4) months prior to the time Landlord is first
required to make space X available to Tenant, Tenant shall notify
Landlord in writing that Tenant elects to exercise this right.
(c) Within fifteen (15) days after Landlord receives such notice,
Landlord shall perform all work and furnish all material needed
to complete Space X in accordance with Tenant's plans and
specifications, All improvements required to be made hereunder
shall be of the same or similar quantity and quality required to
be furnished by Landlord with respect to the completion of the
Premises.
(d) Landlord shall make available to lease by Tenant commencing no
earlier than nor later than
certain space designated as space Y consisting of approximately
square feet as crosshatched in green on Exhibit A.
(e) No later than four (4) months prior to the time Landlord is first
required to make Space Y available to Tenant, Tenant shall notify
Landlord in writing that Tenant elects to exercise this right.
(f) Within fifteen (15) days after Landlord receives such notice,
Landlord shall inform Tenant in writing the exact date Space Y
shall be available for occupancy by Tenant. Landlord shall
perform all work and furnish all material needed to complete
Space Y in accordance with Tenant's plans and specifications.
All improvements required to be made hereunder shall be of the
same and similar quality and quantity required to be furnished by
Landlord with respect to the completion of the Premises,
(g) The rent for any additional space shall be computed at the same
annual rate per square foot as the rent for the space described
in paragraph 1 hereof and shall commence on the date the
additional space has been completed in accordance with (c) and/or
(f) above as the case may be.
(h) The term of the lease for such additional space shall be the
balance of the term of this Lease or any extension thereof.
(i) Landlord shall provide Tenant with additional exclusive parking
spaces in the event Tenant elects to lease Space X and
additional exclusive spaces if tenant elects to lease
Space Y.
(j) All of the terms and conditions of this lease not inconsistent
with this paragraph shall govern the leasing of any additional
space.
(2)
EXPANSION
If at any time and from time to time during the term of this Lease or any
extension hereof, Tenant requires additional equivalent space for expansion
within the building at rentals at least as favorable as those specified
herein, Landlord shall provide such expansion space to Tenant, upon sixty
(60) days prior written notice. In the event Landlord is unable to provide
such expansion space,, Tenant may, at its option, terminate this Lease
without further liability on thirty (30) days prior written notice.
(3)
Right of First Refusal on additional Space
Lessor hereby grants to Lessee a right of first refusal to lease all
unoccupied space remaining on the floor of the
Building. In the event Lessor receives a legitimate offer from a prospective
tenant to lease all or a portion of said space, lessor shall notify Lessee
in writing of the offer, and Lessee shall have ten (10) days after receipt
of such notice to advise Lessor that Lessee will lease such space, and
Lessee and Lessor shall then promptly execute a lease for said space under
the same terms and conditions as this Lease Agreement. In the event Lessee
exercises such right, rent on such space shall commence sixty (60) days
after exercise of this right by Lessee.
(4)
EXPANSION CLAUSE
Lessee shall have the privilege of requiring Lessor, its successors or
assigns, by written notice at any time during the term of this lease, or any
extension thereof, to expand the building upon the demised premises, and
upon receipt of such notice, lessor agrees to construct within six months,
in accordance with plans and specifications furnished by Lessee, such
additional space adjoining the then present building or office. Upon the
onstruction of such additional space, said additional space shall be held
by the Lessee on the terms and conditions of this lease, except that rent
shall be increased as follows:
The square foot rental of such additional space shall be an amount
sufficient to amortize the architectural and construction cost of any
expansion over the unexpired term of the lease remaining after the
completion of such expansion. Provided further that the square foot rental
of the total demised space shall be increased by the amount of any Increase
in property taxes or assessments resulting from an Increase in the assessed
valuation of the demised premises caused by such expansion, further provided
however, that the square foot rental shall be increased by any increase in
the interest rate required to be paid upon the mortgage to finance additional
space, including any increase in the mortgage rate on the balance of the
mortgage placed on the demised premises in connection with the original
financing of this lease, in the event that it shall be necessary for Lessor
to execute a new mortgage covering its entire obligation. Also provided
that the square foot rental shall be Increased by any increase in insurance
fees payable by Lessor caused by such expansion and the addition to or
increase in any other fees or expenses payable by lessor caused by such
expansion. Lessee further agrees to reimburse Lessor at the time of
acceptance of such additional space, for any expenses incurred by Lessor in
obtaining a mortgage to finance such additional space, such expenses shall
include, but shall not be limited to mortgage tax, bank attorney's fees,
mortgagee title Insurance policy, recording fees and search and survey
charges.
In the event Lessee is able to obtain mortgage money for a loan at a
lesser interest rate than Lessor, such lending Institution shall be used by
Lessor.
In the event that Lessor is unwilling or unable to erect such addition
or in the event that after good faith negotiations between Lessor and Lessee,
a mutually agreeable rental for the proposed addition cannot be determined,
Lessee shall have the right to submit detailed plans and specifications of
the proposed addition to the Lessor and upon Lessor's written approval of
said plans and specifications, and with Lessor's written consent to the
proposed contractor, lessee may cause such addition to be constructed at
lessee's expense at no additional rental except that the rental shall be
increased by the amount of any increase in property taxes or assessments
resulting from any increase in assessed valuation of the demised premises
caused by such addition. In such event, the addition so constructed shall
be the property of the lessor and shall be surrendered to the Lessor
together with the original building upon the expiration of this lease or any
renewal thereof. In the event that the Lessee utilizes the provision of this
expansion clause, the term of this lease shall be automatically extended for
a period of years following the date of completion of such expansion or
addition.
(5)
FIRST REFUSAL
If, during the original or any extended term hereof, Landlord elects to lease
any space in the Building other than that space presently occupied by Tenant,
then Landlord shall first offer such space in writing to tenant on terms and
conditions no less favorable than those offered to their parties, If within
thirty (30) days after receipt of such offer, tenant does not notify
Landlord that Tenant elects to lease such space, then Landlord shall be
relieved of any obligations to Tenant with regard to any such offering;
provided however, that a failure by tenant to lease any specific space when
so offered by Landlord shall not relieve Landlord of its obligation to first
offer Tenant any other space in the Building if, as and when Landlord elects
to offer such other space to third parties.
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