STATE OF NEW YORK AGREEMENT OF LEASE FOR A PORTION OF THE 60 BROAD

STREET NEW YORK BUILDING

STATE NEW YORK

EXECUTIVE DEPARTMENT

OFFICE OF GENERAL SERVICES

MAYOR ERASTUS CORNING 2^ND TOWER

The Governor Nelson A. Rockefeller

Empire State Plaza

Albany, New York 12242

O & Y CONCORD 60 BROAD STREET COMPANY,

AS LANDLORD

-WITH-

THE PEOPLE OF THE STATE OF NEW YORK,

AS TENANT.

DATED: AS OF APRIL 1, 1996

Premises:

First Floor Office and Storage Space

The Beaver/New Street Retail Space

The 2^nd Floor

The 3^rd Floor

The 4^th Floor

The 5^th Floor

The 6^th Floor

The 7^th Floor

The 8^th Floor

The 9^th Floor

The 10^th Floor

The 11^th Floor

60 BROAD STREET

NEW YORK, NEW YORK

TABLE OF CONTENTS

i

STATE OF NEW YORK

EXECUTIVE DEPARTMENT

OFFICE OF GENERAL SERVICES

MAYOR ERASTUS CORNING 2ND TOWER

The Governor Nelson A. Rockefeller

Empire State Plaza

Albany, New York 12242

PARTIES

AGREEMENT OF LEASE (hereafter referred to as this Lease), made as of the 1^st day of April in the year one thousand nine hundred and ninety-six by and between O&Y CONCORD 60 BROAD STREET COMPANY, having an office at c/o Concord Properties, 60 Broad Street, New York, New York, 10004; for themselves, their heirs, executors, administrators, trustees, distributes, successors, assigns, and legal representatives, (hereinafter referred to as Landlord), and THE PEOPLF OF THE STATE OF NEW YORK acting by and through the Commissioner of General Services pursuant to the Public Buildings Law, (hereinafter referred to as the State of Tenant):

WITNESSETH; the parties hereto for the considerations hereinafter mentioned covenant and agree as follows;

LETTING

PREMISES

That certain space (the Demised Premises), delineated on the floor plans attached hereto as Exhibit A, as follows: the First Floor Office and Storage Space, comprising 7,220 rentable square feet, the Beaver/New Street Retail Space, comprising 1,164 rentable square feet (together with the First Floor Office and Storage, The NYS Street Level Space), the second floor comprising 45,176 rentable square feet, the third floor, comprising 48,066 rentable square feet, the fourth floor, comprising 48,231 rentable square feet, the fifth floor, comprising 48,746 rentable square feet, the sixth floor, comprising 44,539 rentable square feet, the seventh floor, comprising 46,679 rentable square feet, the eighth floor, comprising 46,360 rentable square feet, the ninth floor, comprising 46,360 rentable square feet, the tenth floor, comprising 33,945 rentable square feet, the eleventh floor, comprising 32,139 rentable square feet all in the building commonly know now as 60 Broad Street, located in the city of New York, County of New York, State of New York (the Building), which Demised Premises are deemed to contain an aggregate total 448,625 rentable square feet, to be used for the official business of the New York State executive and administrative agencies as are set forth on Exhibit B, annexed hereto and made a part hereof or by such other department, commission, board of officers of the State of New York as may be entitled by law to use same or to which the Demised Premises shall be allotted by such COMMISSIONER OF GENERAL SERVICES as provided by the Public Buildings Law. The Building is situated on all of the Land described on Exhibit C, which is attached hereto and made a part hereof. The Building and the Land are sometimes hereinafter referred to collectively as the Real Property.

Page 1

TERM

2A. TO HAVE AND TO HOLD the Demised Premises with the appurtenances, rights and privileges described herein for the term (the Term) of ten (10) years, beginning on April 1, 1997 (the Commencement Date) and ending at noon on March 31, 2007 (the Expiration Date), unless the same shall be sooner terminated pursuant to any of the terms, covenants, conditions or agreements of this Lease. If Landlord is unable to give possession of any portion of the Demised Premises on the Commencement Date because of temporary or permanent certificate of occupancy has not been procured or for any other reason, Landlord shall not, except as provided for elsewhere herein, be subject to any liability for failure to give possession on said date and the validity of the Lease shall not be impaired under such circumstances, and the rent payable hereunder shall be payable in full and shall not be abated by reason of such failure to give possession. The provisions of this Clause are intended to constitute an express provision to the contrary the meaning of Section 223-a of the New York Real Property Law. It is the intention of the parties hereto that the Demised Premises shall be delivered to Tenant on a Phase-by-Phase basis in accordance with the Office Space Completion Schedule annexed hereto as Exhibit D.

2B. The obligation to pay Base Rent under this Lease with respect to all Phases of the Demised Premises shall commence on the Rent Commencement Date. The obligation to pay Tenants Tax Payment, Tenants Operating Payment, and any other charges payable hereunder with respect to all Phases of the Demised Premises (collectively, Additional Rent) shall also commence on the Rent Commencement Date; provided, however, that Tenant shall not, in any event, be required to make payments of Tenants Tax Payment or Tenants Operating Payment apportionable to any Phase or portion of a Phase of the Demised Premises prior to the Deemed Delivery date for such Phase or portion a Phase of the Demised Premises. In addition, Tenant shall not, in any event, be required to make payments for Shared Facilities Electric or Sub metered HVAC Electric (as such terms are defined in Clause No. 8B hereof) in the manner set forth in Clause No. 8D until such time that Tenant first occupies all or any portion of any Phase or Phases of the Demised Premises. For the purposes hereof

In the event that the Deemed Delivery Date with respect to any Phase or portion of a Phase of the Demised Premises shall not have occurred on or before the Commencement Date, Tenant shall nonetheless be required to pay the entire Base Rent and Additional Rent coming due under this Lease with respect all Phases of the Demised Premises commencing on the Rent Commencement Date; provided, however, that as liquidated damages for Landlords failure to cause the Deemed Delivery Date with respect to any Phase or portion of a Phase of the Demised Premises to have occurred on or before the Commencement Date, Landlord, for the period commencing on the Commencement Date and ending on the Deemed Delivery Date with respect to such Phase or portion of a Phase of the Demised Premises (the Liquidated Damages Period), shall make payment to Tenant ( the Liquidated Damages Payments), in amounts set forth below which include the Late Delivery Credit Amount (as such term is defined in Clause No. 4A hereof), in accordance with the following schedule;

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