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Title: |
Lease Agreement |
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Date: |
2001 |
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Preview shows 16KB of 219KB total |
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$88 |
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#1137337 |
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MBS: 9120/00
LEASE AGREEMENT
BETWEEN
1 NORTH DEARBORN TRUST, A DELAWARE BUSINESS TRUST,
AS LANDLORD,
AND
dotspot, Inc.
A Delaware corporation,
AS TENANT
DATED: SEPTEMBER 29, 2000
<PAGE>
TABLE OF CONTENTS
Page
LEASE INFORMATION SUMMARY iv
1. LEASE GRANT 1
2. TERM 1
2.1. Commencement Date 1
2.2. Condition of Premises 1
3. RENT 1
3.1. Base Rent 1
3.2. Additional Rent 1
3.3. Payment 6
4. SECURITY DEPOSIT 6
4.1. Letter of Credit 6
4.2. Cash Security Deposit 7
4.3. INTENTIONALLY DELETED 7
5. LANDLORD'S OBLIGATIONS 7
5.1. Services 7
5.2. Utilities . 8
5.3. Excess Utility Use 8
5.4. Restoration of Services 9
5.5. Chilled Water Usage 9
5.6. Landlord's Representations 10
6. IMPROVEMENTS; ALTERATIONS; REPAIRS; MAINTENANCE 10
6.1. Improvements; Alterations 10
6.2. Repairs and Maintenance 11
6.3. Performance of Work 11
6.4. Mechanic's Liens 12
7. USE 12
8. ASSIGNMENT AND SUBLETTING 12
8.1. Transfers; Consent 12
8.2. Recapture 14
8.3. Additional Compensation 14
8.4. Injunctive Relief 14
8.5. dotspot Companies 15
9. INSURANCE; WAIVERS; SUBROGATION; INDEMNITY 15
9.1. Insurance 15
9.2. Landlord Insurance 16
9.3. Waiver of Negligence; No Subrogation 17
9.4. Indemnity by Tenant 17
9.5. Indemnity by Landlord 17
10. SUBORDINATION; ATTORNMENT; NOTICE TO LANDLORD'S MORTGAGEE 17
10.1. Subordination 17
10.2. Attornment 18
i
<PAGE>
10.3. Notice to Landlord's Mortgagee 18
11. RULES AND REGULATIONS 18
12. CONDEMNATION 18
12.1. Total Taking 18
12.2. Partial Taking Tenant's Rights 18
12.3. Partial Taking Landlord's Rights 19
12.4. Award 19
13. FIRE OR OTHER CASUALTY 19
13.1. Landlord's Rights 19
13.2. Repair Obligation 20
14. PERSONAL PROPERTY TAXES 21
15. DEFAULT 21
15.1. Events of Default 21
15.2. Default Interest 22
16. REMEDIES 22
16.1. Right To Terminate 22
16.2. Receipt Of Money After Termination 22
16.3. Recovery Of Damages 22
16.4. Right To Re-Enter 23
16.5. Independent Covenant 23
16.6. Legal Expenses 23
17. PAYMENT BY TENANT; NON-WAIVER 23
17.1. Payment by Tenant 23
17.2. No Waiver 24
18. SURRENDER OF PREMISES 24
19. HOLDING OVER 24
20. CERTAIN RIGHTS RESERVED BY LANDLORD 25
21. MISCELLANEOUS 26
21.1. Landlord Transfer 26
21.2. Landlord's Liability 27
21.3. Force Majeure 27
21.4. Brokerage 27
21.5. Estoppel Certificates 27
21.6. Notices 28
21.7. Severability 28
21.8. Amendments; Binding Effect 28
21.9. Quiet Enjoyment 29
21.10. No Merger 29
21.11. No Offer 29
21.12. Entire Agreement; Governing Law 29
21.13. Calendar Days 29
21.14. Prohibition Against Leasehold Mortgages 29
21.15. Waiver of Trial by Jury 30
21.16. Landlord's Remedies Cumulative 31
ii
<PAGE>
21.17. Prohibition Against Recordation 31
21.18. Joint and Several Liability 31
21.19. Corporate Tenants 31
22. ROOF EQUIPMENT 32
22.1. Roof Rights 32
22.2. Maintenance and Repairs of Roof Equipment 32
22.3. Removal of Roof Equipment 33
22.4. Roof Rights Not Severable 33
23. STORAGE SPACE 33
24. OPTION TO RENEW 33
25. RIGHT OF FIRST OFFER 34
iii
<PAGE>
EXHIBIT A - OUTLINE OF PREMISES
EXHIBIT B - BUILDING RULES AND REGULATIONS
EXHIBIT C - INTENTIONALLY DELETED
EXHIBIT D - ESTOPPEL CERTIFICATE
EXHIBIT E - GUARANTY
EXHIBIT F - WORKLETTER
EXHIBIT G - CERTIFICATE OF COMMENCEMENT DATE
EXHIBIT H - SUBORDINATION, NONDISTURBANCE AND ATTORNMENT AGREEMENT
EXHIBIT I - CLEANING SPECIFICATIONS
EXHIBIT J - HVAC SPECIFICATIONS
EXHIBIT K - SEARS SCHEDULE
iv
<PAGE>
LEASE INFORMATION SUMMARY
-------------------------
1. LEASE DATE September 29, 2000
II PARTIES AND ADDRESSES
A. Landlord: 1 North Dearborn Trust, a Delaware business trust
B. Landlord's Address for c/o Douglas Elliman-Beitler Management Corporation
Notices: One North LaSalle Street
Suite 3700
Chicago, Illinois 60602
Attention: General Manager
With copies to:
Mr. J. Paul Beitler
181 West Madison Street
Suite 3900
Chicago, Illinois 60602
And to:
Emmet, Marvin & Martin, LLP
120 Broadway
New York, New York 10271
Attention: Patrick A. McCartney, Esq.
And to:
Much Shelist Freed Denenberg
Ament & Rubenstein, P.C.
200 North LaSalle Street
Suite 2100
Chicago, Illinois 60601
Attention: Michael B. Sadoff, Esq.
C. Tenant: dotspot, inc., a Delaware corporation
D. Tenant's Address for 1301 North Elston Avenue
Notices: Chicago, Illinois 60622
Attention: General Counsel
And to:
Steven J. Marcus
Ray & Glick, Ltd.
611 South Milwaukee Avenue
Libertyville, Illinois 60048
v
<PAGE>
E. Guarantor: divine interVentures, inc.,
1301 North Elston Avenue
Chicago, Illinois 60622
Attention; General Counsel
and to
Steven J. Marcus
Ray & Glick, Ltd
611 South Milwaukee Avenue
Libertyville, IL 60048
III. PROPERTY INFORMATION
A. Building: One North Dearborn Street, Chicago, Illinois 60602,
including all related land, landscaped areas,
driveways, parking facilities and similar
improvements to the extent applicable
B. Premises: Entire 13th Floor of the Building comprising
approximately Forty-Nine Thousand Seven Hundred One
(49,701) rentable square feet (Section 1)
IV. TERM
A. Term of Lease: The period beginning on the Commencement Date and
ending on the Termination Date (Section 2)
B. Commencement Date: October 9, 2000
C. Termination Date The Termination Date shall be the last day of the
One Hundred Twentieth (120th) month following the
Rent Commencement Date
D. Rent Commencement The earlier of (i) the date Tenant takes occupancy
Date of the Premises or (ii) February 9, 2001.
E. Lease Year The twelve (112) calendar month period commencing on
the Rent Commencement Date if the Rent Commencement
Date occurs on the first day of a month, or the
twelve (12) calendar period commencing on the first
day of the first month immediately following the
Rent Commencement Date if the Rent Commencement
Date does not occur on the first day of a month.
vi
<PAGE>
V. RENT
A. Base Rent: $25.75 per square foot during the first lease year,
(including a partial month prior to the commencement
of the first Lease Year if the Rent Commencement
Date does not occur on the first day of a month),
subject to $.60 per square foot annual escalations
as set forth below:
$1,279,800.70 per year ($106,650.05 per month; $25.75
per sq. ft.) during the first lease year;
$1,309,621.30 per year ($109,135.10 per month $26.35
per sq. ft.) during the second lease year;
$1,339,441.90 per year ($111,620.15 per month; $26.95
per sq. ft.) during the third lease year;
$1,369,262.50 per year ($114,105.20 per month; $27.55
per sq. ft.) during the fourth lease year;
$1,399,083.10 per year ($116,590.25 per month; $28.15
per sq. ft.) during the fifth lease year;
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