2009-007 Purchasing - Telesis Construction Management, LLC - Parking Deck Lease and Right of First Offer and Right of First Refusal

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north of-the Parking Deck with respect to eighty (80) Parking Spaces located on the ground level of the Parking Deck as identified on the attached EXHIBIT B. The initial term of this Lease shall expire with respect to all Parking Spaces, if not sooner terminated as provided herein, at 11:59:59 p.m. (local time) on December 31, 2049. Commencing on January 1, 2050, the initial term of this Lease shall automatically renew for successive periods of one (1) calendar each (commencing on January 1 of each calendar year and ending on December 31 of the same calendar year at 11:59:59 p.m. (local time)), unless and .until sooner terminated by either party as provided below. When and as used in this Lease, "Term" shall mean the initial term of this Lease and each renewal term. At any time subsequent to the expiration of the initial term of this Lease, either party may terminate this Lease with respect to any or all of the Parking Spaces, in its sole discretion, upon delivering written notice of termination to the other party not less than one hundred eighty (180) days prior to the date of termination. Lessor may at any time terminate this Lease with respect to any or all of the Parking Spaces, for cause, in the event Lessee shall (a) default in the performance of any of its obligations pursuant to this Lease and (b) fail to cure such default within thirty (30) days after Lessor shall have delivered to Lessee written notice of default and demand for cure. Lessee may at any time terminate this Lease with respect to any or all of the Parking Spaces, for cause, in the event Lessor shall (a) default in the performance of any of its obligations pursuant to this Lease and (b) fail to cure such default within thirty (30) days after Lessee shall have delivered to Lessor written notice of default and demand for cure. Section 3 Annual Rent, Maintenance Costs and Operating Costs. (a) Annual Rent. Lessee shall pay to Lessor each calendar year during the Term, in advance, Annual Rent for Lessee's lease of the Parking Spaces in the amount of One Dollar ($1.00) multiplied by the number of Parking Spaces then leased to Lessee pursuant to the terms of this Lease. Annual Rent in the amount of One Hundred Twenty and No1100 Dollars ($120.00) for one hundred twenty (120) parking spaces for calendar year 2009, pro-rated as of February 25, 2009 ($101.92), shall be due and payable, in full, on February 25, 2009. Annual Rent in the amount of Eighty and No/100 Dollars ($80.00) for eighty (80) parking spaces for calendar year 2009, pro-rated as of the date of Closing, shall be due and payable, in full, on the date of Closing. Annual Rent for two hundred (200) Parking Spaces for calendar year 2010 in the amount of Two Hundred and No/100 Dollars ($200.00) shall be due and payable, in full, on January 10, 2010. Annual Rent for each subsequent calendar year during the Term shall be due and payable, in full, on the tenth (10`h) day of January of each such calendar year. Lessee's failure to pay any Annual Rent by the twentieth (20th') day of the month when due shall constitute a default under this Lease. In the event the termination date of this Lease with respect to any or all of the Parking Spaces shall not be December 31 of any calendar year, the Annual Rent for the calendar year in which this Lease terminates with respect to such Parking Spaces shall be pro-rated as of the date of such termination. (b) Shared Operating Costs -Calendar Year 2009. In addition to Annual Rent pursuant to paragraph 3(a) above, Lessee shall pay to Lessor for the 2009 calendar year the sum of Fourteen Thousand Five Hundred Ninety and 55/1.00 Dollars ($14,590.55) for one hundred twenty (120) parking spaces for the period commencing on February 25, 2009 and ending on December 31, 2009. Such sum shall be paid in full by Lessee not later than April 10, 2009. In addition to Annual Rent pursuant to paragraph 3(a) above, Lessee shall also pay to Lessor for the 2009 calendar year the sum of Eleven Thousand Four Hundred Fifty-Two and 80/100 Dollars ($11,452.80), pro-rated as of the date of Closing, for the remaining eighty (80) parking spaces for the period commencing on the date of Closing and ending on December 31, 2009. Such sum shall be paid by Lessee on the date of Closing. The parties acknowledge and agree that the above-stated sums represent the estimate of Lessee's pro-rata share of Shared Operating Costs (as hereinafter defined) for the 2009 calendar year. -2-