|
30
<br /> T #d Months Stat DatE End D31e SF PSFFUe $Mmth Total$
<br /> 1 12.00 03/01i20 02/28/21 10.615 $21.00 $18,576.25 $222,915.00
<br /> 2 12.00 03/01/21 02/28/22 10,615 $21.63 $19,133.54 $229,602.45
<br /> 3 12.00 03101/221 02/28/23 10,615 $22.28 $19,707.54 $236,490.52
<br /> Total 36.00 $689,007.97
<br /> Option Tam #d Months Start Dle End SF P$F Poe $SMaittt Total$
<br /> 1 12.00 03/01i23 02/29/24 10,615 $22.95 $20,298,77 $243,585.24
<br /> 1 12.00 03/01/24 02/28/25 10,615 $23.64 $20,907.73 $250,892.80
<br /> 'rf exadsed
<br /> For each succeeding Lease Year of the Term, Tenant shall pay to Landlord annual base rent as determined
<br /> pursuant to subsection(b)below, payable in equal monthly installments commencing on the first day of each
<br /> Lease Year. All monthly base rent payments shall be due on the first day of each month in advance,without
<br /> notice or demand. All rent payments shall be made to Landlord at: Europa Center, LLC,c/o Avison Young
<br /> - NC, LLC, P.O. Box 900002, Raleigh, NC 27675-9000, or at such other place as Landlord may designate
<br /> from time to time in writing.
<br /> (b) Adjustments to Annual Base Rent. At the end of each Lease Year of the Term, the annual
<br /> base rent to be paid to Landlord by Tenant for the upcoming Lease Year will be subject to an increase in
<br /> annual base rent of three percent(3.00%) per Lease Year.
<br /> (c) Base Rent for Partial Month. Base rent due for any partial month at the beginning of the Term
<br /> shall be $51.89 per day, payable in advance on the Commencement Date. Base rent due for any partial
<br /> month at the end of the Term shall be determined on a per diem basis, using the then applicable annual base
<br /> rent. Calculation of Rents is based on the annual rent amount divided by a 365 clay year.
<br /> (d) Operating Expense Adjustment. The Annual Base Rent shall remain in effect without
<br /> adjustment throughout the Base Year. For the remainder of the term of this Lease the Annual Base Rent
<br /> shall be subject to periodic adjustment in accordance with the following provisions:
<br /> (i)"Base Year" shall mean the calendar year of the date of this Lease which is 2020.
<br /> (ii) "Annual Base Rent" shall mean the Initial Annual Base Rent as specified and defined above in
<br /> Paragraph 4(a)of this Lease, including any and all adjustments as further stipulated in Paragraph 4(b)of this
<br /> Lease for each subsequent Lease Year.
<br /> (iii) "Comparison Year"shall mean calendar year 2021. Each succeeding comparison year shall be a
<br /> calendar year having an anniversary date of January 1.
<br /> (iv) "Operating Expenses" shall mean all direct costs of repair, operation, maintenance and
<br /> management incurred by Landlord with respect to the buildings, grounds and premises, and properly
<br /> chargeable against income as determined by standard accounting practices;these shall include the following
<br /> costs by way of illustration, but not limitation: utility charges; hazard and liability insurance premiums; ad
<br /> valorem real and personal property taxes; costs incurred in the management of the building; costs incurred
<br /> in securing the building; costs incurred in painting, lighting and upkeep of the building and premises;
<br /> supplies; materials, equipment and tools; further operating expenses, including, but not limited to
<br /> maintenance costs for maintenance, upkeep, repair and replacement of the following: HVAC; all lighting
<br /> fixtures; elevators;janitorial service; inspections, licenses&permits;snow removal; upkeep and landscaping
<br /> of all grounds; upkeep, repair and maintenance of parking lot and parking garage; trash removal; labor;
<br /> uniforms; and building and premises security,and any other expenses necessary for the maintenance, repair
<br /> and upkeep of any and all common areas of the Buildings, parking lots and garage, pond, fountain and
<br /> grounds. Operating expenses shall not include the following:depreciation and amortization on the Buildings
<br /> or equipment therein; interest expenses and all other costs related to Landlord's financing,if any;advertising;
<br /> real estate broker's commissions; repairs or other work occasioned by fire,windstorm or other casualty of an
<br /> insurable nature or by the exercise of eminent domain or any expenditures for which Landlord is entitled to be
<br /> reimbursed from any source including without limitation, insurance and condemnation proceeds; costs and
<br /> expenses associated with leasing to other tenants, including tenant improvement allowances,attorney's fees,
<br /> and architectural fees, if any; costs directly attributable to the design and construction of improvements, or
<br /> renovating or decorating, painting or redecorating space for other tenants; expenses in connection with
<br /> services or other benefits of a type which are not provided to Tenant but which are provided to another tenant
<br /> or occupant, if any;the cost of clean-up or remediation of hazardous or toxic wastes which are not caused by
<br /> Tenant; costs, fines or penalties incurred due to violation by Landlord or any other tenant of the terms and
<br /> conditions of any lease, laws or regulations, if any; amounts for services paid to entities of Landlord which
<br /> exceed the amount that would have been paid to unaffiliated entities; all costs, items and services for which
<br /> any tenant or third party reimburses Landlord; or any improvements of a capitalized asset.
<br /> Page 5 -THE EUROPA CENTER Lease
<br /> Landlord Tenant
<br /> Initials Initials
<br />
|