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Document Preview Office Building Lease |
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Title: |
Office Building Lease |
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Entities: |
Shaw Group Inc.; Sysco Corp.; Wells Operating Partnership, LP; Bank of America, NA; Stone & Webster, Inc.; Wells Real Estate Investment Trust Inc. |
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Date: |
2001 |
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Size: |
Preview shows 37KB of 200KB total |
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Price: |
$78 |
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ID: |
#140000 |
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Start of Preview |
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1430 ENCLAVE PARKWAY
HOUSTON, TEXAS
OFFICE BUILDING LEASE
BETWEEN
WELLS OPERATING PARTNERSHIP, L.P.
a Delaware limited partnership
AS LANDLORD
AND
STONE & WEBSTER, INC.
a Louisiana corporation
AS TENANT
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
PART ONE
{S} {C}
BASIC LEASE PROVISIONS...................................................... Part One-Page 7
1. Tenant................................................ Part One-Page 7
------
2. Premises.............................................. Part One-Page 7
--------
3. Term:................................................. Part One-Page 7
----
4. Base Rent (Part Two, Section 3.1)..................... Part One-Page 7
---------
5. Expense Stop.......................................... Part One-Page 7
------------
6. Security Deposit...................................... Part One-Page 7
----------------
7. Premises Use.......................................... Part One-Page 7
------------
8. Tenant's Insurance.................................... Part One-Page 7
------------------
9. Addresses For Notices and Payment of
------------------------------------
Rent and Other Charges................................ Part One-Page 8
-----------------------
10. Brokers (Part Two, Article 17)........................ Part One-Page 8
-------
11. Exhibits and Riders................................... Part One-Page 8
-------------------
12. Incorporation of Other Provisions..................... Part One-Page 8
---------------------------------
GENERAL LEASE PROVISIONS......................................................... Part Two-Page 1
1. PREMISES, COMMON AREAS, SERVICE AREAS.......................... Part Two-Page 1
-------------------------------------
1.1 Building.............................................. Part Two-Page 1
--------
1.2 Ceilings, Walls, Floors............................... Part Two-Page 1
-----------------------
1.3 Condition of Premises................................. Part Two-Page 1
---------------------
1.4 Common and Service Areas.............................. Part Two-Page 1
------------------------
(a) Common Areas................................. Part Two-Page 1
------------
(b) Service Areas................................ Part Two-Page 1
-------------
2. TERM; RENEWAL.................................................. Part Two-Page 1
-------------
2.1 Term.................................................. Part Two-Page 1
----
2.2 Renewal............................................... Part Two-Page 2
-------
2.3 Holding Over.......................................... Part Two-Page 3
------------
3. MONETARY PROVISIONS............................................ Part Two-Page 3
-------------------
3.1 Base Rent............................................ Part Two-Page 3
----------
3.2 Tenant's Share of Certain Costs....................... Part Two-Page 3
-------------------------------
(a) Operating Costs.............................. Part Two-Page 3
---------------
(b) Pro Rata Share Computation................... Part Two-Page 3
--------------------------
(c) Estimated Costs.............................. Part Two-Page 4
---------------
(d) Estimate Revisions........................... Part Two-Page 4
------------------
(e) Annual Adjustments........................... Part Two-Page 4
------------------
{/TABLE}
i
{PAGE}
{TABLE}
{S} {C}
(f) Final Partial Year....................................... Part Two-Page 5
------------------
(g) Adjustment for Occupancy................................. Part Two-Page 5
------------------------
3.3 Personal Property Taxes........................................... Part Two-Page 5
-----------------------
3.4 Late Payments..................................................... Part Two-Page 6
-------------
3.5 Interest.......................................................... Part Two-Page 6
--------
3.6 Administrative Reimbursement...................................... Part Two-Page 6
----------------------------
3.7 Additional Rent................................................... Part Two-Page 6
---------------
4. SYSCO CORPORATION LEASE.................................................... Part Two-Page 6
-----------------------
5. SERVICES AND UTILITIES..................................................... Part Two-Page 6
----------------------
5.1 Services by Landlord.............................................. Part Two-Page 6
--------------------
5.2 Tenant's Obligations.............................................. Part Two-Page 7
--------------------
5.3 Tenant's Additional Service Requirements.......................... Part Two-Page 7
----------------------------------------
(a) Additional Services Requiring
-----------------------------
Landlord Consent......................................... Part Two-Page 7
----------------
(b) Providing Additional Services............................ Part Two-Page 7
-----------------------------
(i) Removal by Tenant. .............................. Part Two-Page 7
-----------------
(ii) Separate Metering................................ Part Two-Page 8
-----------------
(iii) Additional HVAC.................................. Part Two-Page 8
---------------
(iv) Replacement Bulbs................................ Part Two-Page 8
-----------------
(v) Additional Janitorial Services................... Part Two-Page 8
------------------------------
(vi) Substitution of Cleaning Contractors............. Part Two-Page 8
------------------------------------
(c) After Hours Heat or Air Conditioning..................... Part Two-Page 8
------------------------------------
(d) Payment.................................................. Part Two-Page 9
-------
5.4 Interruption of Utility Service................................... Part Two-Page 9
-------------------------------
6. OCCUPANCY AND CONTROL...................................................... Part Two-Page 9
---------------------
6.1 Use............................................................... Part Two-Page 9
---
6.2 Access to the Building and Premises;
------------------------------------
Telephone System.................................................. Part Two-Page 9
----------------
6.3 Rules and Regulations............................................. Part Two-Page 10
---------------------
6.4 Additional Covenants of Tenant.................................... Part Two-Page 10
------------------------------
(a) Laws, Statutes........................................... Part Two-Page 10
--------------
(b) Nuisance................................................. Part Two-Page 11
--------
(c) Building Reputation...................................... Part Two-Page 11
-------------------
(d) Recording................................................ Part Two-Page 11
---------
6.5 Access by Landlord................................................ Part Two-Page 11
------------------
6.6 Control of Project................................................ Part Two-Page 11
------------------
6.7 Minimization of Disruption........................................ Part Two-Page 11
--------------------------
7. REPAIRS, MAINTENANCE AND ALTERATIONS....................................... Part Two-Page 12
------------------------------------
7.1 Landlord's Repair Obligations..................................... Part Two-Page 12
-----------------------------
7.2 Tenant's Repair Obligations....................................... Part Two-Page 12
---------------------------
{/TABLE}
ii
{PAGE}
{TABLE}
{S} {C}
7.3 Rights of Landlord..................................... Part Two-Page 13
------------------
7.4 Surrender.............................................. Part Two-Page 13
---------
7.5 Alterations by Tenant.................................. Part Two-Page 13
---------------------
(a) Approval Required............................. Part Two-Page 13
-----------------
(b) Complex Alterations........................... Part Two-Page 14
-------------------
(c) Standard of Work.............................. Part Two-Page 14
----------------
(d) Ownership of Alterations...................... Part Two-Page 14
------------------------
7.6 Liens.................................................. Part Two-Page 14
-----
8. INSURANCE....................................................... Part Two-Page 14
---------
8.1 Insurance Required of Tenant........................... Part Two-Page 14
----------------------------
(a) Commercial General Liability Insurance........ Part Two-Page 14
--------------------------------------
(b) Workers' Compensation and Employer
----------------------------------
Liability Coverage............................ Part Two-Page 15
-------------------
(c) Property Insurance............................ Part Two-Page 15
------------------
(d) Business Income and Extra
-------------------------
Expense Coverage.............................. Part Two-Page 15
----------------
8.2 Landlord's Insurance................................... Part Two-Page 15
--------------------
8.3 Form of Policies and Additional Requirements........... Part Two-Page 16
--------------------------------------------
8.4 Waiver of Subrogation.................................. Part Two-Page 16
---------------------
8.5 Increase of Premiums................................... Part Two-Page 16
--------------------
9. DAMAGE OR DESTRUCTION........................................... Part Two-Page 17
---------------------
9.1 Repair by Landlord..................................... Part Two-Page 17
------------------
9.2 Landlord's Rights Upon The Occurrence
-------------------------------------
of Certain Casualties.................................. Part Two-Page 17
----------------------
9.3 Tenant's Rights Upon The Occurrence
-----------------------------------
of Certain Casualties.................................. Part Two-Page 18
---------------------
9.4 Repairs by Tenant...................................... Part Two-Page 18
-----------------
9.5 Determination or Period Required for Rebuilding........ Part Two-Page 18
-----------------------------------------------
10. EMINENT DOMAIN.................................................. Part Two-Page 19
--------------
10.1 Total Taking........................................... Part Two-Page 19
------------
10.2 Partial Taking......................................... Part Two-Page 19
--------------
10.3 Award.................................................. Part Two-Page 19
-----
11. ASSIGNMENT AND SUBLETTING....................................... Part Two-Page 20
-------------------------
11.1 Consent................................................ Part Two-Page 20
-------
11.2 Definitions of Assignment and Affiliate................ Part Two-Page 20
---------------------------------------
12. DEFAULT; REMEDIES............................................... Part Two-Page 21
-----------------
12.1 Defaults by Tenant..................................... Part Two-Page 21
------------------
12.2 Remedies............................................... Part Two-Page 21
--------
(a) Termination of Lease.......................... Part Two-Page 22
--------------------
(b) Continuation of Lease......................... Part Two-Page 22
---------------------
{/TABLE}
iii
{PAGE}
{TABLE}
{S} {C}
(c) Performance for Tenant........................ Part Two-Page 22
----------------------
(d) Changing Locks................................ Part Two-Page 22
--------------
12.3 Remedies Cumulative.................................... Part Two-Page 22
-------------------
12.4 Default by Landlord.................................... Part Two-Page 23
-------------------
12.5 Attorneys' Fees........................................ Part Two-Page 23
---------------
12.6 Waiver................................................. Part Two-Page 23
------
12.7 Force Majeure.......................................... Part Two-Page 24
-------------
13. ESTOPPEL CERTIFICATES........................................... Part Two-Page 24
---------------------
13.1 Acknowledgment of Commencement Date.................... Part Two-Page 24
-----------------------------------
13.2 Certificates........................................... Part Two-Page 24
------------
13.3 Financial Statements................................... Part Two-Page 24
--------------------
14. SUBORDINATION AND ATTORNMENT.................................... Part Two-Page 24
----------------------------
14.1 Lease Subordinate.......................................... Part Two-Page 24
-----------------
14.2 Subordination.............................................. Part Two-Page 25
-------------
15. LANDLORD'S INTEREST............................................. Part Two-Page 25
-------------------
15.1 Liability of Landlord.................................. Part Two-Page 25
---------------------
15.2 Sale of Project........................................ Part Two-Page 25
---------------
16. NOTICES......................................................... Part Two-Page 25
-------
17. BROKERS......................................................... Part Two-Page 25
-------
18. INDEMNITIES AND WAIVERS......................................... Part Two-Page 26
-----------------------
18.1 Indemnities by Tenant.................................. Part Two-Page 26
---------------------
18.2 Indemnities by Landlord................................ Part Two-Page 26
-----------------------
18.3 Waivers by Tenant...................................... Part Two-Page 26
-----------------
18.4 Waivers by Landlord.................................... Part Two-Page 26
-------------------
18.5 Definitions............................................ Part Two-Page 27
-----------
18.6 Scope of Waivers....................................... Part Two-Page 27
----------------
18.7 Obligations Independent of Insurance................... Part Two-Page 27
------------------------------------
18.8 Survival............................................... Part Two-Page 28
--------
18.9 Duty to Defend......................................... Part Two-Page 28
--------------
19. PARKING......................................................... Part Two-Page 28
-------
19.1 Garage................................................. Part Two-Page 28
------
20. HAZARDOUS SUBSTANCES;
----------------------
REPRESENTATIONS................................................. Part Two-Page 28
---------------
20.1 Tenant's Operations.................................... Part Two-Page 28
-------------------
21. INTERPRETATIVE.................................................. Part Two-Page 29
--------------
21.1 Captions............................................... Part Two-Page 29
--------
21.2 Section Numbers........................................ Part Two-Page 29
---------------
21.3 Attachments............................................ Part Two-Page 29
-----------
21.4 Number, Gender, Defined Terms.......................... Part Two-Page 29
-----------------------------
21.5 Entire Agreement....................................... Part Two-Page 29
----------------
{/TABLE}
iv
{PAGE}
{TABLE}
{S} {C}
21.6 Amendment................................................ Part Two-Page 29
---------
21.7 Severability............................................. Part Two-Page 29
------------
21.8 Time of Essence.......................................... Part Two-Page 29
---------------
21.9 Best Efforts............................................. Part Two-Page 29
------------
21.10 Binding Effect........................................... Part Two-Page 30
--------------
21.11 Subtenancies............................................. Part Two-Page 30
------------
21.12 No Reservation........................................... Part Two-Page 30
--------------
21.13 Consents................................................. Part Two-Page 30
--------
21.14 Choice of Law............................................ Part Two-Page 30
-------------
21.15 Non-Merger............................................... Part Two-Page 30
----------
21.16 Representations of Landlord.............................. Part Two-Page 30
---------------------------
21.17 Jointly Prepared Document................................ Part Two-Page 30
-------------------------
21.18 Waiver of Trial by Jury.................................. Part Two-Page 30
-----------------------
21.19 Independent Covenants.................................... Part Two-Page 31
---------------------
21.20 Execution on Behalf of Tenant............................ Part Two-Page 31
-----------------------------
21.21 Execution on Behalf of Landlord.......................... Part Two-Page 31
-------------------------------
21.22 Quiet Enjoyment.......................................... Part Two-Page 31
---------------
21.23 Conflict with Rules and Regulations..................... Part Two-Page 31
-----------------------------------
EXHIBIT A........................................................ Exhibit A - page 1
EXHIBIT B........................................................ Exhibit B, page 1
EXHIBIT C........................................................ Exhibit C, page 1
EXHIBIT D........................................................ Exhibit D, Page 1
EXHIBIT E........................................................ Exhibit E, Page 1
EXHIBIT F........................................................ Exhibit F, Page 1
EXHIBIT G........................................................ Exhibit G, Page 2
{/TABLE}
v
{PAGE}
OFFICE BUILDING LEASE
---------------------
In consideration of the mutual covenants and upon the terms and conditions
set forth in Part One "Basic Lease Provisions", Part Two "General Lease
Provisions", and other attachments and exhibits numerated in the Table of
Contents to this Office Building Lease ("Lease"), Wells Operating Partnership,
L.P., a Delaware limited partnership ("Landlord"), hereby leases to the Tenant
named below and Tenant hereby leases from Landlord, certain premises described
below.
PART ONE
BASIC LEASE PROVISIONS
1. Tenant: Stone & Webster, Inc.
------
2. Premises: The premises outlined and crosshatched on Exhibit B hereof
-------- ---------
and agreed by Landlord and Tenant to contain 206,048 square feet of
Rentable Area on the first through fourth floors of the Building.
(Part Two, Article 1)
3. Term: Beginning on ______________, 2000 (the "Commencement Date") and
----
ending on _____________, 2010 (the "Expiration Date"). (Part Two,
Article 2)
4. Base Rent (Part Two, Section 3.1): Base Rent shall be as follows:
---------
Years Annual Rent Monthly Installment
----- ----------- -------------------
1-5 $ 4,533,056 $377,754.67
6-10 $ 5,213,014 $434,417.83
5. Expense Stop: $7.50 per square foot {of Rentable Area} [Part Two,
------------
Section 3.2(b)(i)]
6. Security Deposit: None (Part Two, Section 3.5)
----------------
7. Premises Use: Office space. (Part Two, Article 6)
------------
8. Tenant's Insurance (Part Two, Article 8):
------------------
Commercial General Liability: $ 5,000,000
Part One-Page 7
{PAGE}
Workers' Compensation: Statutory Limit
Employers' Liability: $ 1,000,000
All Risk Property: Full Replacement Value
Business Interruption/Excess Expense: 12 months' coverage
9. Addresses For Notices and Payment of Rent and Other Charges (Part Two,
-----------------------------------------------------------
Article 16):
TO TENANT: TO LANDLORD:
Stone & Webster, Inc. Wells Operating Partnership, L.P.
8545 United Plaza Blvd. 10000 N. Central Expressway
Baton Rouge, Louisiana 70809 Suite 1150
Attn: Walter R. Rhodes, Dallas, Texas 75231
Executive Vice President
with a copy to:
The Shaw Group, Inc.
8545 United Plaza Blvd.
Baton Rouge, Louisiana 70809
Attn: General Counsel
10. Brokers (Part Two, Article 17): C B Richard Ellis and Means Knaus.
-------
11. Exhibits and Riders: The following numbered Riders are attached to
-------------------
this Lease and made of a part of this Lease for all purposes:
Exhibit A: Legal Description of Project
Exhibit B: Floor Plans
Exhibit C: Operating Costs
Exhibit D: Rules and Regulations
Exhibit E: Subordination, Non-Disturbance and Attornment Agreement
Exhibit F: Guaranty
Exhibit G: Site Plan, Showing Excess Land
12. Incorporation of Other Provisions: All of the provisions, covenants
---------------------------------
and conditions set forth in Part Two and all other exhibits and riders
described in the attached Table of Contents and the preceding
paragraph, are by this reference incorporated into the Basic Lease
Provisions as fully as if the same
Part One-Page 8
{PAGE}
were set forth at length in the Basic Lease Provisions. Each reference
in Part Two and exhibits and riders to any provision in the Basic
Lease Provisions will be construed to incorporate all of the terms
provided under the referenced provision in the Basic Lease Provisions.
In the event of any conflict between a provision in the Basic Lease
Provisions, on the one hand, and a provision in Part Two or exhibits
or riders, on the other hand, the latter will control.
This Lease has been executed by Landlord and Tenant as of the _____ day of
_________________, 2000.
TENANT: LANDLORD:
Stone & Webster, Inc. Wells Operating Partnership, L.P.
By: /s/ Walter R. Rhodes By:_____________________________
------------------------------
Name: Walter R. Rhodes Name:___________________________
----------------------------
Title: Executive Vice President Title:__________________________
---------------------------
Part One-Page 9
{PAGE}
This Lease has been executed by Landlord and Tenant as of the 21st day of
December, 2000.
TENANT: LANDLORD:
Stone & Webster, Inc. Wells Operating Partnership, L.P.
By:______________________________ By: /s/ Douglas P. Williams
-----------------------------
Name:____________________________ Name: Douglas P. Williams
---------------------------
Title:___________________________ Title: Executive Vice President
--------------------------
Part One-Page 10
{PAGE}
PART TWO
GENERAL LEASE PROVISIONS
1. PREMISES, COMMON AREAS, SERVICE AREAS
-------------------------------------
1.1 Building. The term "Building" in this Lease will refer to the office
--------
building situated on a tract of land ("Land") in Houston, Texas, described in
Exhibit A of this Lease, and having a postal address of 1430 Enclave Parkway,
---------
Houston, Texas. The Land, Building, and any other improvements situated on the
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