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Title: |
Office Building Lease |
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Entities: |
Kilroy Realty Corp.; Kilroy Realty, LP; Ryland Group Inc.; Wells Fargo Bank, NA |
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Date: |
2000 |
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Size: |
Preview shows 9KB of 286KB total |
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Price: |
$93 |
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ID: |
#140068 |
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OFFICE BUILDING LEASE
BETWEEN
KILROY REALTY, L.P.,
a Delaware limited partnership
LANDLORD
AND
THE RYLAND GROUP, INC.,
a Maryland corporation
TENANT
19
TABLE OF CONTENTS
-----------------
1. BASIC LEASE TERMS..........................................1
2. PREMISES AND COMMON AREAS..................................2
3. TERM.......................................................3
4. POSSESSION.................................................5
5. RENT.......................................................6
6. OPERATING EXPENSES.........................................6
7. DELETED....................................................8
8. USE........................................................8
9. NOTICES....................................................9
10. BROKERS....................................................9
11. SURRENDER; HOLDING OVER....................................9
12. TAXES ON TENANT'S PROPERTY................................10
13. ALTERATIONS...............................................10
14. REPAIRS...................................................12
15. LIENS.....................................................13
16. ENTRY BY LANDLORD.........................................13
17. UTILITIES AND SERVICES....................................14
18. ASSUMPTION OF RISK AND INDEMNIFICATION....................14
19. INSURANCE.................................................15
20. DAMAGE OR DESTRUCTION.....................................17
21. EMINENT DOMAIN............................................18
22. DEFAULTS AND REMEDIES.....................................19
23. LANDLORD'S DEFAULT. .....................................22
24. ASSIGNMENT AND SUBLETTING.................................22
25. SUBORDINATION.............................................24
26. ESTOPPEL CERTIFICATE......................................25
27. INTENTIONALLY OMITTED.....................................25
28. RULES AND REGULATIONS.....................................25
29. MODIFICATION AND CURE RIGHTS OF LANDLORD'S MORTGAGEES AND
LESSORS...................................................25
30. DEFINITION OF LANDLORD....................................26
31. WAIVER....................................................26
(i)
20
32. PARKING...................................................26
33. FORCE MAJEURE.............................................27
34. SIGNS.....................................................28
35. LIMITATION ON LIABILITY...................................28
36. FINANCIAL STATEMENTS......................................28
37. QUIET ENJOYMENT...........................................29
38. MISCELLANEOUS.............................................29
39. EXECUTION OF LEASE........................................30
ADDENDUM
EXHIBITS:
A-I Site Plan
A-II Outline of Floor Plan of Premises
B Rentable Square Feet and Usable Square Feet
C Work Letter Agreement
Schedule 1 Description of Base Building
Schedule 2 Work Schedule
D Notice of Lease Term Dates and Tenant's Percentage
E Definition of Operating Expenses
F Standards for Utilities and Services
G Estoppel Certificate
H Rules and Regulations
(ii)
21
OFFICE BUILDING LEASE
This OFFICE BUILDING LEASE ("Lease") is entered into as of the _______ day of
December, 1999 by and between Kilroy Realty, L.P., a Delaware limited
partnership ("Landlord"), and The Ryland Group, Inc., a Maryland corporation
("Tenant").
1. BASIC LEASE TERMS. For purposes of this Lease, the following terms have
the following definitions and meanings:
(a) Landlord: Kilroy Realty, L.P., a Delaware limited partnership.
(b) Landlord's Address (For Notices):
2250 East Imperial Highway, Suite 1200
El Segundo, California 90245
Attention: Chief Legal Officer
or such other place as Landlord may from time to time designate by notice to
Tenant.
(c) Tenant: The Ryland Group, Inc., a Maryland corporation.
(d) Tenant's Address (For Notices): Ryland Mortgage, 6300 Canoga Avenue,
14th Floor, Woodland Hills, California 91367, Attention: Bob Cunnion or such
other place as Tenant may from time to time designate by notice to Landlord.
(e) Development: The parcel(s) of real property located within and
consisting of a portion of Calabasas Park Centre, located in the City of
Calabasas (the "City"), County of Los Angeles (the "County"), State of
California ("State"), as shown on the site plan attached hereto as
Exhibit "A-I".
(f) Building: The four (4) story westernmost office building located within the
Development, which Building contains approximately One Hundred Thousand
(100,000) Rentable Square Feet (subject to adjustment as provided in Exhibit
"B"), with the street address of 24025 Park Sorrento, Calabasas, California.
(g) Premises: Collectively, those certain premises known as Suite 400 consisting
of approximately 25,324 Rentable Square Feet and 24,702 Usable Square Feet and
Suite 100 consisting of approximately 7,622 Rentable Square Feet and 6,686
Usable Square Feet as generally shown on the floor plans attached hereto as
Exhibit "A-II".
(h) Tenant's Percentage: Tenant's percentage of the Building on an aggregate
Rentable Square Foot basis, initially is thirty-two and 95/100ths percent
(32.95%), subject to final determination as provided in Exhibit "B" and Exhibit
"D".
(i) Original Term: Six (6) years and four (4) months, subject to Tenant's
right to extend the Term pursuant to the provisions of Paragraph 3 hereof.
(j) (i) Estimated Commencement Date: July 1, 2000
(ii) Estimated Expiration Date: October 31, 2006.
(k) Commencement Date: The date on which the Term of this Lease will
commence as determined in accordance with the provisions of Exhibit "C" and
as stated on Exhibit "D".
(l) Initial Monthly Base Rent: Two Dollars and Fifty Cents ($2.50) times the
Rentable Square Feet contained within the Premises, subject to adjustment as
provided in subparagraph 1(m) below and as otherwise provided in this Lease,
including the Addendum hereto.
(m) Adjustment to Monthly Base Rent: Intentionally omitted.
-1-
22
(n) Operating Expense Allowance: Operating Expense Allowance means Tenant's
Percentage of Operating Expenses as described in Paragraph 6 below which
Landlord has included in Monthly Base Rent, which, for purposes of this
Lease, will be an amount equal to the Operating Expenses incurred for
calendar year 2000 (the "Base Year").
(o) Security Deposit: None
(p) Tenant Improvements: All tenant improvements installed or to be installed by
Landlord or Tenant within the Premises to prepare the Premises for occupancy
pursuant to the terms of the Work Letter Agreement attached hereto as Exhibit
"C".
(q) Tenant Improvement Allowance: Thirty-Five Dollars ($35) per Usable
Square Foot of the Premises, to be applied as provided in the Work Letter
Agreement attached hereto as Exhibit "C".
(r) Permitted Use: General office uses and no other use without the express
written consent of Landlord, which consent Landlord may withhold in its sole
and absolute discretion.
(s) Parking: Tenant may use a number of parking permits equal to three (3)
permits per each one thousand (1,000) Usable Square Feet within the Premises
during the Original Term, at no cost to Tenant, subject to the terms and
conditions of Paragraph 32 below and the Rules and Regulations regarding parking
contained in Exhibit "H". One-third (1/3) of Tenant's parking permits shall be
for Tenant's use in the parking space locations as depicted on Exhibit "A-I"
attached hereto; all other parking permits shall be unreserved parking permits.
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