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Document Preview Standard Industrial Lease |
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Title: |
Standard Industrial Lease |
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Entities: |
Carter New Manchester Building One, LLC; JVC Americas Corp.; Wachovia Bank, NA; Wells Real Estate Investment Trust II Inc. |
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Date: |
2004 |
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Size: |
Preview shows 47KB of 163KB total |
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Price: |
$60 |
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ID: |
#255762 |
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Start of Preview |
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STANDARD INDUSTRIAL LEASE
By and Between
CARTER NEW MANCHESTER BUILDING ONE, L.L.C.,
a Georgia limited liability company
as Landlord,
and
JVC AMERICAS CORP.,
a Delaware corporation
as Tenant.
TABLE OF CONTENTS
|
1. PREMISES |
4 | |
|
2. TERM |
5 | |
|
3. DELIVERY OF POSSESSION OF PREMISES |
5 | |
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4. RENT |
6 | |
|
(a) Base Rent |
6 | |
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(b) Additional Rent Building Operating Expenses and Common Area Maintenance Expenses |
7 | |
|
(1) Definitions |
7 | |
|
(2) Reimbursement of Building Operating Expenses and Common Area Maintenance Expenses |
9 | |
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(3) Estimates of Operating Expenses |
9 | |
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(4) Annual Reconciliation |
9 | |
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(5) Prorations |
10 | |
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(c) Additional Rent - Real Estate Taxes and Insurance |
10 | |
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(1) Definitions |
10 | |
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(2) Reimbursement of Taxes and Insurance |
11 | |
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(3) Estimates of Taxes and Insurance |
11 | |
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(4) Annual Reconciliation |
11 | |
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(5) Initial Estimate of Operating Expenses, Taxes and Insurance |
12 | |
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(6) Prorations |
12 | |
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(7) Personal Property Taxes |
12 | |
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(8) Tax Appeals |
12 | |
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(9) Bond Financing |
12 | |
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5. SECURITY DEPOSIT (Intentionally Omitted) |
13 | |
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6. USE OF PREMISES |
14 | |
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7. COMPLIANCE WITH LAWS |
14 | |
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(a) Compliance with Laws |
14 | |
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(b) Compliance with ECRs |
15 | |
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8. UTILITIES & SERVICES |
15 | |
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9. LIABILITY OF LANDLORD |
16 | |
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10. IMPROVEMENTS, REPAIRS BY LANDLORD |
17 | |
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11. LANDLORDS RIGHT TO ENTER PREMISES |
17 | |
i
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12. REPAIRS BY TENANT |
18 | |
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13. ALTERATIONS |
19 | |
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14. LIENS |
20 | |
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15. ASSIGNMENT AND SUBLETTING |
21 | |
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16. EMINENT DOMAIN |
23 | |
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17. DESTRUCTION OR DAMAGE TO PREMISES |
24 | |
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18. INDEMNIFICATION |
26 | |
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19. INSURANCE |
26 | |
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(a) Landlords Insurance |
26 | |
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(b) Tenants Insurance |
27 | |
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(c) Waiver of Subrogation |
27 | |
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(d) Intent of Parties |
28 | |
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20. DAMAGE OR THEFT OF PERSONAL PROPERTY |
28 | |
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21. HAZARDOUS MATERIALS |
28 | |
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22. LANDLORDS LIEN WAIVER |
30 | |
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23. RELOCATION [Intentionally Omitted] |
30 | |
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24. SUBORDINATION AND ATTORNMENT |
30 | |
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25. ESTOPPEL CERTIFICATE |
32 | |
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26. DEFAULT |
32 | |
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27. REMEDIES |
33 | |
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28. EFFECT OF TERMINATION OF LEASE |
35 | |
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29. ATTORNEYS FEES |
35 | |
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30. QUIET ENJOYMENT |
36 | |
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31. SURRENDER OF PREMISES |
36 | |
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32. HOLDING OVER |
36 | |
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33. REMOVAL OF TENANTS PROPERTY |
37 | |
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34. NOTICES |
37 | |
ii
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35. AGENCY DISCLOSURE |
38 | |
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36. EXCULPATION OF LANDLORD |
38 | |
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37. PARKING |
39 | |
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38. SIGNAGE |
39 | |
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39. FORCE MAJEURE |
39 | |
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40. AUTHORITY |
40 | |
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41 DEFINITIONS |
40 | |
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42. RULES AND REGULATIONS |
40 | |
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43. SPECIAL STIPULATIONS |
40 | |
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44. MISCELLANEOUS |
40 | |
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45 ENTIRE AGREEMENT |
42 | |
iii
EXHIBITS
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Exhibit A-1 |
Floor Plan of Premises | |||
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Exhibit A-2 |
Common Area of the Property | |||
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Exhibit B |
Work Letter | |||
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Exhibit B-1 |
Master Site Plan | |||
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Exhibit B-2 |
Phase One Premises Construction Schedule | |||
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Exhibit C |
Commencement Date Confirmations | |||
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Exhibit D |
Intentionally Omitted | |||
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Exhibit E |
Rules and Regulations | |||
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Exhibit F |
Special Stipulations |
STANDARD INDUSTRIAL LEASE
THIS LEASE (Lease), made this 1st day of October, 2003 (the Effective Date), is entered into by and between Carter New Manchester Building One, L.L.C., a Georgia limited liability company (the Landlord), and the Tenant as named in the Schedule below.
The following schedule (the Schedule) is an integral part of this Lease. Terms defined in this Schedule shall have the same meaning throughout the Lease.
SCHEDULE
| 1. | Tenant: JVC Americas Corp., a Delaware corporation |
| 2. | Premises: Approximately 593,404 rentable square feet of space in the Building, as more particularly shown on the floor plan attached hereto as Exhibit A-1. The Premises shall consist of two phases. The first phase shall consist of approximately 404,412 rentable square feet of space which currently exists (the Phase One Premises) and the second phase shall consist of approximately 188,992 rentable square feet of space to be constructed by Landlord (the Phase Two Premises). The Phase Two Premises shall include, but not be limited to, providing all truck courts of equal or greater depth and parking areas in a similar manner that exists for the Phase One Premises. The Phase One Premises and the Phase Two Premises are collectively referred to herein as the Premises. |
| 3. | Building: The building located at 9103 Riverside Parkway, Douglasville, GA 30135, Douglas County, Georgia (the Building) |
| 4. | Rentable Square Feet of the Building: Approximately 593,404 rentable square feet of space, 404,412 of which consists of the Phase One Premises as of the date of this Lease, and approximately 188,992 of which is to be constructed and known as the Phase Two Premises. |
| 5. | Tenants Proportionate Share of the Building: Initially 100%, Tenants Proportionate Share of the Building has been obtained by dividing the rentable square feet of the Premises by the rentable square feet of the Building, and multiplying such quotient by 100. In the event Tenants Proportionate Share of the Building is changed during a calendar year by reason of a change in the rentable square feet of the Premises or the rentable square feet of the Building, Tenants Proportionate Share of the Building shall thereafter mean the result obtained by using the revised rentable square feet in the foregoing formula. For the purpose of this Lease, Tenants Proportionate Share of the Building shall be determined on the basis of the number of days of the applicable percentage during each such calendar year. |
| 6. | Tenants Proportionate Share of the Common Area Maintenance Expenses: Initially 100%, Tenants Proportionate Share of the Common Area Maintenance Expenses shall be determined by dividing the rentable square feet of the Premises from time to time by the rentable square feet in all buildings in the Property (as hereinafter defined) from time to time. |
| 7. |
Tenants Proportionate Share of Taxes and Insurance: The Property consists of |
1
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63.045 acres and is currently subdivided into two (2) separate tax parcels, the first of which consists of 19.645 acres being the Phase One Premises and the second of which consists of 43.4 acres being the land on which the Phase Two Premises is to be built constituting 11.265 acres and the remaining property within the Property constituting 32.135 acres. Landlord is currently having the Property subdivided in such a manner so that the first tax lot shall consist of the combined Phase One Premises and Phase Two Premises and the second tax lot shall consist of the remaining property constituting the Property. Until such time as the Property has been subdivided as such, Tenants Proportionate Share of Taxes and Insurance for the Phase One Premises shall be 100% and for the Phase Two Premises shall be 25.96%. Once the Property has been subdivided, Tenants Proportionate Share of Taxes and Insurance for the Phase One Premises and Phase Two Premises shall be 100%. |
| 8. | Tenants Broker for this Lease: Trammell Crow Services, Inc. |
| 9. | Landlords Broker for this Lease: Carter & Associates Enterprises, Inc. |
| 10. | Tenant Improvements: Landlord shall construct the Tenant Improvements (as defined in Exhibit B) to the Premises in accordance with the terms of the Work Letter attached hereto as Exhibit B. |
| 11. | Commencement Dates: |
| (a) | The Phase One Commencement Date shall be the date of substantial completion (as defined in Exhibit B) of the Tenant Improvements and Tenant Work (as hereinafter defined) to the Phase One Premises, which is to be on or before December 2, 2003, provided Tenant materially meets the benchmark deadlines set forth on Exhibit B-2 entitled Construction Schedule (the Phase One Commencement Date). In no event shall the Phase One Commencement Date be subsequent to December 2, 2003 except for delays caused by Force Majeure (as hereinafter defined) circumstances beyond Landlords control or as a result of a Tenant Delay (as hereinafter defined). |
| (b) | The Phase Two Commencement Date shall be the date of substantial completion of the Phase Two Premises and Tenant Improvements therefor which is to be on or before November 1, 2004 provided Tenant materially meets the benchmark deadlines set forth on the Construction Schedule (the Phase Two Commencement Date) and subject to delays caused by Force Majeure circumstances beyond Landlords control or as a result of a Tenant Delay. |
| 12. | Phase One Rent Commencement Date: The Phase One Rent Commencement Date for Base Rent and Additional Rent (each as hereinafter defined) shall commence on the later of (i) the Phase One Commencement Date, or (ii) January 1, 2004. |
| 13. |
Phase Two Rent Commencement Date: The Phase Two Rent Commencement Date for Base Rent and Additional Rent shall Commence on the later of (i) thirty (30) days following the date that the entire Phase Two Premises is substantially
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