|
Unit, Premises and/or Building("Capital Expenditure").Lessor and Lessee shall allocate the cost of such work as follows'
<br /> (a) Subject to Paragraph 2.3(c)below, if such Capilaf Expenditures are required as a result of the specific and unique use of
<br /> the Premises by Lessee as compared with uses by tenants in general, Lessee shall be fully responsible for the cost thereof, provided, however that if
<br /> such Capital Expenditure is required during the last 2 years of This Lease and the cost [hereof exceeds 6 months' Base Rent. Lessee may instead
<br /> terminate this Lease unless Lessor notifies Lessee, in writing, within 10 days after receipt of Lessee's termination notice that Lessor has elected to pay
<br /> the difference between the actual cost thereof and the amount equal to 6 months' Base Rent_ If Lessee elects termination, Lessee shall immediately
<br /> cease the use of the Premises which requires such Capital Expenditure and deliver to Lessor written notice specifying a termination date at least 90
<br /> days thereafter. Such termination date shall, however. in no event be earlier than the last day that Lessee could legally utilize the Premises without
<br /> commencing such Capital Expenditure.
<br /> (b) If such Capital Expenditure is not the result of the specific and unique use of the Premises by lessee (such as.
<br /> governmentally mandated seism c modifications), then Lessor shall pay for such Capital Expenditure and Lessee shall only be obligated to pay, each
<br /> month during the remainder of the term of this Lease or any extension thereof. on the date that on which the Base Rent is due, an amount equai to
<br /> 11144111 of the portion of such costs reasonably attributable to the Premises. Lessee shall pay Interest on the balance but may prepay its obligation at
<br /> any time If however, such Capital Expenditure is required during the last 2 years of this Lease or if Lessor reasonably determines that it is not
<br /> economically feasible to pay its share thereof, Lessor shall have the option to terminate this Lease upon 90 days prior written notice to Lessee unless
<br /> Lessee notifies Lessor, in writing, within 10 days after receipt of Lessor's termination notice that Lessee will pay for such Capital Expenditure. It Lessor
<br /> dues not elect to terminate, and falls to lender its share of any such Capital Expenditure, Lessee may advance such funds and deduct same. wdh
<br /> Interest, from Rent until Lessor's share of such costs have been fully pad. If Lessee is unable to finance Lessor's share. or if the balance of the Rent
<br /> due and payable for the remainder of lh s Lease is not suffic ent to fully reimburse Lessee on an offset basis. Lessee shall have the right to terminale
<br /> this Lease upon 30 days written notice to Lessor.
<br /> (c) Notwithstanding the above, the provisions concerning Capital Expenditures are intended to apply only to non-voluntary,
<br /> unexpected. and new Applicable Requirements. If the Capital Expenditures are instead triggered by Lessee as a result of an actual of proposed
<br /> change in use, change in intensity of use, or modification to the Premises then, and in that event. Lessee shall either: (i) immediately cease such
<br /> changed use or intensity of use and/or take such other steps as may be necessary to eliminate the requirement for such Capital Expenditure. or(ii)
<br /> complete such Capital Expenditure at its own expense Lessee shall not have any right to terminate this Lease.
<br /> 2 4 Acknowledgements. Lessee acknowledges that (a)it has been given an opportunity to inspect and measure the Premises (h)it
<br /> has been advised by Lessor and/or Brokers to satisfy itself with respect to the size and condition of the Premises (including but not limited to the
<br /> electrical, HVAC and fire sprinkler systems, security, environmental aspects. and compliance with Applicable Requirements and the Amencai.ti with
<br /> DisabiRies Act). and their suitability for Lessee's intended use, (c) Lessee has made such investigation as it deems necessary with reference to such
<br /> matters and assumes all responsibility therefor as the same relate to its occupancy of the Premises, (d)it is not relying on any representation as to the
<br /> size of the Premises made by Brokers or Lessor, (e) the square footage of the Premises was not material to Lessee's decision to lease the Premises
<br /> and pay the Rent stated herein, and (f) neither Lessor. Lessor's agents, nor Brokers have made any oral or .vrilten representations or warranties with
<br /> :aspect to said matters other than as set forth in this Lease. In addition. Lessor acknowledges that: (i) Brokers have made no representations,
<br /> promises or warranties concerning Lessee's ability to honor the tease or suitability to occupy the Premises. and (ii)it is Lessor's sole responsibility to
<br /> lmestfgate the financial capability and(or suitability of all proposed tenants.
<br /> 2.5 Lessee as Prior Owner/Occupant. The warranties made by Lessor in Paragraph 2 shall be of no force or effect if Immediately
<br /> pnor to the start Date Lessee was the owner or occupant of the Premises. In such event. Lessee shall be responsible for any necessary corrective
<br /> work
<br /> 2 6 Vehicle Perking Lessee shall be entitled to use the number of parking spaces specified in Paragraph 1.2(h)on those portions of
<br /> the Common Areas pesignated from time to time by Lessor for parking. Lessee shall not use more parking spaces than said number. Said parking
<br /> spaces shall be used for parking by vehicles no larger than full-size passenger automobiles or pick-up trucks,herein called"Permitted size Vehicles."
<br /> Lessor may regulate the loading and unloading of vehicles by adopting Rules and Regulations as provided in Paragraph 2.9. No vehicles other than
<br /> Permitted Size Vehicles may be parked in the Common Area without the prior written permission of Lessor. In addition:
<br /> (a) Lessee shall not permit or allow any vehicles that belong to or are controlled by Lessee or Lessee's employees
<br /> suppliers, shippers, customers, contractors or invitees to be loaded, unloaded, or parked in areas other than those designated by Lessor for such
<br /> scuvibes
<br /> (b) Lessee shall not service or store any vehicles in the Common Areas.
<br /> (c) If Lessee permits or allows any of the prohibited activities described in this Paragraph 2.6, then Lessor shelf have the
<br /> right,without notice,to addition to such other rights and remedies that it may have, to remove or tow away the vehicle involved and charge the cost to
<br /> Lessee,which cost shall be immediately payable upon demand by Lessor.
<br /> 2.7 Common Areas•Definition. The term "Common Areas"is defined as all areas and facilities outside the Premises and within the
<br /> exterior boundary line of the Project and interior utility raceways and installations within the Unit that are provided and designated by the Lessor from
<br /> time to time for the general non-exclusive use of Lessor, Lessee and other tenants of the Project and theEr respective employees- suppliers, shippers
<br /> cu5Tbrners. cantractors and invitees including parking areas. loading and unloading areas. trash areas. roadways, walkways. driveways and
<br /> PAGE 3 OF 23
<br /> [NIT INITIALS
<br /> 01999 -AIR COMMERCIAL REAL ESTATE ASSOCIATION FORM MTN-14-2113E
<br />
|