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Title: |
Agreement of Lease |
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Entities: |
Citibank, NA; Empire Healthchoice, Inc.; Forest City Enterprises, Inc.; WellChoice, Inc.; New York Clearing House Association; Arent Fox PLLC; McDermott, Will & Emery; Weil, Gotshal & Manges LLP; Forest City Myrtle Associates, LLC; Empire Blue Cross Blue Shield |
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Date: |
2002 |
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Preview shows 42KB of 792KB total |
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Price: |
$99 |
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ID: |
#300176 |
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Start of Preview |
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AGREEMENT OF LEASE
between
Forest City Myrtle Associates, LLC
as Landlord
-and-
Empire HealthChoice, Inc. d/b/a Blue Cross Blue Shield
as Tenant
Dated: As of January 17, 2002
Nine Metrotech Center South
Brooklyn, New York
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
Table of Contents
-----------------
{S} {C}
ARTICLE 1 PREMISES, TERM AND RENT ........................................ 1
ARTICLE 2 USE OF PREMISES ................................................ 3
ARTICLE 3 TAXES AND OPERATING EXPENSES ESCALATIONS ....................... 6
ARTICLE 4 ELECTRICITY .................................................... 15
ARTICLE 5 INDEMNITY ...................................................... 17
ARTICLE 6 QUIET ENJOYMENT ................................................ 18
ARTICLE 7 ASSIGNMENT, SUBLETTING AND MORTGAGING .......................... 18
ARTICLE 8 SERVICES ....................................................... 25
ARTICLE 9 BROKERAGE ...................................................... 29
ARTICLE 10 ACCESS, NAME OF BUILDING AND SIGNAGE ........................... 29
ARTICLE 11 EXCULPATION .................................................... 33
ARTICLE 12 SUBMISSION TO JURISDICTION ..................................... 34
ARTICLE 13 CONDITION OF THE PREMISES; BUILDING;
CERTIFICATES OF OCCUPANCY ...................................... 34
ARTICLE 14 RESTRICTIONS ON LANDLORD ....................................... 34
ARTICLE 15 TENANT CHANGES ................................................. 35
ARTICLE 16 BASE BUILDING WORK; TENANT INITIAL WORK ........................ 39
ARTICLE 17 INSURANCE ...................................................... 59
ARTICLE 18 TENANT'S PROPERTY .............................................. 63
ARTICLE 19 REPAIRS AND MAINTENANCE ........................................ 63
ARTICLE 20 RULES AND REGULATIONS .......................................... 65
ARTICLE 21 COMPLIANCE WITH LAWS; MECHANIC'S LIENS ......................... 66
ARTICLE 22 ESTOPPEL CERTIFICATE ........................................... 67
ARTICLE 23 HOLDOVER ....................................................... 67
ARTICLE 24 CONDITIONS OF LIMITATION ....................................... 68
ARTICLE 25 REENTRY BY LANDLORD ............................................ 70
ARTICLE 26 DAMAGES ........................................................ 71
ARTICLE 27 LEGAL RENT RESTRICTION ......................................... 73
ARTICLE 28 SURRENDER ...................................................... 73
ARTICLE 29 CURING TENANT'S DEFAULTS; CURING LANDLORD'S DEFAULTS ........... 73
ARTICLE 30 DAMAGE OR DESTRUCTION .......................................... 74
ARTICLE 31 EMINENT DOMAIN ................................................. 77
ARTICLE 32 SUBORDINATION, ATTORNMENT ...................................... 78
ARTICLE 33 NOTICES ........................................................ 79
ARTICLE 34 EXPEDITED CONSTRUCTION ARBITRATION ............................. 81
ARTICLE 35 GENERAL ARBITRATION ............................................ 82
ARTICLE 36 DEFINITIONS .................................................... 84
ARTICLE 37 PARKING GARAGE ................................................. 86
ARTICLE 38 COMMUNICATIONS EQUIPMENT AND ANTENNA ........................... 86
ARTICLE 39 EXTENSION OF TERM .............................................. 88
ARTICLE 40 EARLY EXPANSION RIGHTS AND REDUCTION RIGHTS; EXPANSION
OPTIONS ........................................................ 90
ARTICLE 41 RIGHT OF FIRST OFFER ........................................... 93
ARTICLE 42 MISCELLANEOUS PROVISIONS ....................................... 95
LIST OF EXHIBITS:
Exhibit A - Floor Plans of the Premises
---------
Exhibit B - Construction Schedule
---------
Exhibit C - Form of Letter of Credit
---------
Exhibit D - Sample Statement Detail
---------
Exhibit E - List of Holidays
---------
Exhibit F - Cleaning Specifications
---------
Exhibit G - Louver Locations
---------
Exhibit H - INTENTIONALLY OMITTED
---------
Exhibit I - INTENTIONALLY OMITTED
---------
Exhibit J - Base Building Work Letter
---------
Exhibit K - INTENTIONALLY OMITTED
---------
{/TABLE}
-i-
{PAGE}
TABLE OF CONTENTS
(continued)
{TABLE}
{CAPTION}
Page
{S} {C}
Exhibit L - Building and Project Signage Criteria
---------
Exhibit M - List of Agencies
---------
Exhibit N - Base Building Enhancements
---------
Exhibit O - List of Approved Contractors and Subcontractors
---------
Exhibit P - Landlord's Construction Rules and Regulations
---------
Exhibit Q - Rules and Regulations
---------
Exhibit R - Site Plan of Metrotech Center
---------
Exhibit S - INTENTIONALLY OMITTED
---------
Exhibit T - INTENTIONALLY OMITTED
---------
Exhibit U - Tenant's Minimum Security Specifications
---------
{/TABLE}
-ii-
{PAGE}
LIST OF DEFINED TERMS
{TABLE}
{CAPTION}
TERM PAGE
---- ----
{S} {C}
"additional electrical equipment" ........................................ 17
-------------------------------
"Additional Rent" ........................................................ 2
---------------
"Affiliate" .............................................................. 19
---------
"and/or" ................................................................. 85
------
"Antenna" ................................................................ 88
-------
"Approved List." ......................................................... 37
-------------
"Arbitrator" ............................................................. 83
----------
"Assignment Expenses." ................................................... 23
-------------------
"Assignment Proceeds" .................................................... 23
-------------------
"bankruptcy or insolvency law" ........................................... 69
----------------------------
"Base Allowance" ......................................................... 58
--------------
"Base Building Architect" ................................................ 49
-----------------------
"Base Building CD's" ..................................................... 49
------------------
"Base Building Enhancements" ............................................. 48
--------------------------
"Base Building Work" ..................................................... 48
------------------
"Base Building Work Letter" .............................................. 48
-------------------------
"Base Operating Expense Year" ............................................ 10
---------------------------
"Base Year Operating Expenses" ........................................... 10
----------------------------
"Base Year Taxes" ........................................................ 6
---------------
"BID Assessment" ......................................................... 10
--------------
"Brokers" ................................................................ 29
-------
"Building" ............................................................... 1
--------
"Building Operating Expenses" ............................................ 10
---------------------------
"Bureau" ................................................................. 89
------
"Business Days" .......................................................... 25
-------------
"Business Hours" ......................................................... 25
--------------
"CAM Agreement" .......................................................... 13
-------------
"CAM Operating Expenses" ................................................. 13
----------------------
"Change Order" ........................................................... 51
------------
"City" ................................................................... 2
----
"Commence(d) Construction of the Building" ............................... 45
----------------------------------------
"Commencement Date" ...................................................... 40
-----------------
"Commencement of Construction and Financing Date" ........................ 45
-----------------------------------------------
"Commencement of Construction of the Building" ........................... 45
--------------------------------------------
"Completion Guaranty" .................................................... 55
-------------------
"Confirmation Notice" .................................................... 43
-------------------
"Construction Rules and Regulations" ..................................... 38
----------------------------------
"Construction Schedule" .................................................. 45
---------------------
"control" ................................................................ 19
-------
"Delivery Conditions" .................................................... 40
-------------------
"dining facilities" ...................................................... 3
-----------------
"Dispute Notice" ......................................................... 82
--------------
"Early Expansion Notice" ................................................. 91
----------------------
"Early Expansion Space" .................................................. 91
---------------------
"EDC" .................................................................... 98
---
"Emergency Lighting Systems" ............................................. 16
--------------------------
"Environmental Legal Requirements" ....................................... 5
--------------------------------
"Escrow Agreement" ....................................................... 45
----------------
"Estimated Operating Expense Statement" .................................. 13
-------------------------------------
"Estimated Tax Statement" ................................................ 8
-----------------------
"Event of Default" ....................................................... 69
----------------
"Excluded Impositions" ................................................... 7
--------------------
"Expansion Space" ........................................................ 93
---------------
"Expiration Date" ........................................................ 1
---------------
"Extension Term" ......................................................... 89
--------------
"Facility" ............................................................... 89
--------
"Facility Operators" ..................................................... 89
------------------
"fair market rent" ....................................................... 90
----------------
{/TABLE}
-i-
{PAGE}
{TABLE}
{CAPTION}
TERM PAGE
---- ----
{S} {C}
"Final Working Drawings" ............................................ 37
----------------------
"First Extension Floor(s)" .......................................... 90
-----------------------
"First Extension Notice" ............................................ 90
----------------------
"First Extension Term" .............................................. 90
--------------------
"Fixed Rent" ........................................................ 1
----------
"force majeure" ..................................................... 85
-------------
"Ground Lease" ...................................................... 3
------------
"Guarantor" ......................................................... 34
---------
"Hazardous Materials" ............................................... 5
-------------------
"herein" ............................................................ 85
------
"hereof" ............................................................ 85
------
"hereunder" ......................................................... 85
---------
"HVAC" .............................................................. 26
----
"Incomplete Work" ................................................... 44
---------------
"Index" ............................................................. 85
-----
"Initial Base Building Work" ........................................ 43
--------------------------
"Initial Notice" .................................................... 43
--------------
"Institutional Lender" .............................................. 45
--------------------
"Insurable Value" ................................................... 62
---------------
"Insurance Requirements" ............................................ 85
----------------------
"Interest Rate" ..................................................... 86
-------------
"Land" .............................................................. 7
----
"Landlord" .......................................................... 1
--------
"Landlord Common Areas" ............................................. 5
---------------------
"Landlord Delay" .................................................... 54
--------------
"Landlord hereby indemnifies Tenant against liability" .............. 87
----------------------------------------------------
"Landlord Parties" .................................................. 86
----------------
"Landlord shall not have liability to Tenant" ....................... 86
-------------------------------------------
"Landlord's Construction Rules and Regulations" ..................... 55
---------------------------------------------
"Landlord's Engineer" ............................................... 37
-------------------
"Landlord's Share" .................................................. 58
----------------
"legal rent restriction" ............................................ 74
----------------------
"Legal Requirements" ................................................ 86
------------------
"Letter of Credit" .................................................. 98
----------------
"Long Lead Work" .................................................... 77
--------------
"Material Net Worth" ................................................ 25
------------------
"material part" ..................................................... 78
-------------
"Material Tenant Changes" ........................................... 36
-----------------------
"materially interfere" .............................................. 42
--------------------
"Monitor" ........................................................... 89
-------
"Mortgage" .......................................................... 79
--------
"Mortgagee" ......................................................... 79
---------
"Mortgagee Parties" ................................................. 86
-----------------
"Mortgages" ......................................................... 79
---------
"negotiating" ....................................................... 22
-----------
"negotiations" ...................................................... 22
------------
"Non-Disturbance Agreement" ......................................... 79
-------------------------
"notices" ........................................................... 81
-------
"Offering Space" .................................................... 94
--------------
"Offering Space Inclusion Date" ..................................... 95
-----------------------------
"Offering Space Notice" ............................................. 95
---------------------
"Operating Expense Statement" ....................................... 14
---------------------------
"Operating Expense Year" ............................................ 13
----------------------
"Operation of the Property" ......................................... 10
-------------------------
"Operational Hazardous Materials" ................................... 5
-------------------------------
"Operator" .......................................................... 87
--------
"Outside Ready for Delivery Date" ................................... 45
-------------------------------
"Permitted Tenant Changes." ......................................... 36
-------------------------
"Person" ............................................................ 86
------
"PILOT" ............................................................. 7
-----
"Post Delivery Base Building Work" .................................. 42
--------------------------------
"predecessor tenants" ............................................... 24
-------------------
{/TABLE}
-ii-
{PAGE}
{TABLE}
{CAPTION}
TERM PAGE
---- ----
{S} {C}
"Preliminary Notice".................................................... 43
------------------
"Premises".............................................................. 1
--------
"Proceeding"............................................................ 9
----------
"Program"............................................................... 89
-------
"Project"............................................................... 86
-------
"Projected Completion Date(s)".......................................... 45
----------------------------
"Protected Occupant".................................................... 22
------------------
"Protest"............................................................... 9
-------
"Punch List Items"...................................................... 43
----------------
"Ready for Delivery".................................................... 40
------------------
"Ready for Delivery Notice"............................................. 43
-------------------------
"Real Property"......................................................... 7
-------------
"Recipient"............................................................. 68
---------
"Reduction Notice"...................................................... 92
----------------
"Reduction Space"....................................................... 92
---------------
"reenter"............................................................... 72
-------
"Rent".................................................................. 2
----
"Rent Commencement Date"................................................ 1
----------------------
"Rentalized Amount"..................................................... 58
-----------------
"Rentalized Interest Rate".............................................. 2
------------------------
"Reorganization"........................................................ 19
--------------
"ROFO".................................................................. 95
----
"Rules and Regulations"................................................. 66
---------------------
"Second Extension Floor(s)"............................................. 90
-------------------------
"Second Extension Notice"............................................... 90
-----------------------
"Second Extension Term"................................................. 90
---------------------
"Service Facilities".................................................... 30
------------------
"Special Initial Work".................................................. 61
--------------------
"Special Tenant Changes"................................................ 36
----------------------
"Special Work Coverage"................................................. 62
---------------------
"Statement"............................................................. 14
---------
"Sublease Rental Factor"................................................ 25
----------------------
"Subletting Expenses"................................................... 24
-------------------
"Subletting Proceeds"................................................... 24
-------------------
"Substantial Completion of Restoration"................................. 76
-------------------------------------
"substantially complete(d)"............................................. 43
-------------------------
"Substantially Completed for Restoration Purposes"...................... 76
------------------------------------------------
"substantially damaged"................................................. 76
---------------------
"successor corporation or partnership".................................. 19
------------------------------------
"Successor Landlord".................................................... 80
------------------
"such consent shall not be unreasonably withheld"....................... 86
-----------------------------------------------
"Superior Leases"....................................................... 79
---------------
"Superior Lessor Parties"............................................... 86
-----------------------
"Superior Lessor,"...................................................... 79
----------------
"Tax Base Year"......................................................... 7
-------------
"Tax Due Date".......................................................... 8
------------
"Tax Statement"......................................................... 8
-------------
"Tax Year".............................................................. 7
--------
"Taxes"................................................................. 7
-----
"TCO"................................................................... 41
---
"Tenant"................................................................ 1
------
"Tenant Change"......................................................... 36
-------------
"Tenant Delay".......................................................... 53
------------
"Tenant Exclusive Use Areas"............................................ 5
--------------------------
"Tenant hereby indemnifies Landlord against liability".................. 87
----------------------------------------------------
"Tenant Initial Work Allowance"......................................... 58
-----------------------------
"Tenant Initial Work Cost".............................................. 50
------------------------
"Tenant Initial Work"................................................... 36, 56
-------------------
"Tenant Notice"......................................................... 21
-------------
"Tenant Parties"........................................................ 87
--------------
"Tenant Restoration Delays"............................................. 77
-------------------------
"Tenant's Acceptance Notice"............................................ 95
--------------------------
{/TABLE}
-iii-
{PAGE}
{TABLE}
{CAPTION}
TERM PAGE
---- ----
{S} {C}
"Tenant's Architect" ...................................................... 37
------------------
"Tenant's Construction Representative" .................................... 56
------------------------------------
"Tenant's Designated Mechanical Space" .................................... 86
------------------------------------
"Tenant's Designated Roof Space" .......................................... 87
------------------------------
"Tenant's Engineer" ....................................................... 57
-----------------
"Tenant's Estimated Operating Expense Payment" ............................ 13
--------------------------------------------
"Tenant's Estimated Tax Payment" .......................................... 8
------------------------------
"Tenant's Inspection Consultants" ......................................... 44
-------------------------------
"Tenant's Operating Expense Payment" ...................................... 13
----------------------------------
"Tenant's Property" ....................................................... 64
-----------------
"Tenant's Proportionate Operating Expense Share" .......................... 13
----------------------------------------------
"Tenant's Proportionate Tax Share". ....................................... 7
--------------------------------
"Tenant's Tax Payment". ................................................... 7
--------------------
"Term" .................................................................... 1
----
"term of this Lease" ...................................................... 91
------------------
"Termination Deadline" .................................................... 47
--------------------
"the same shall be without liability to Landlord" ......................... 86
-----------------------------------------------
"unreasonably withheld". .................................................. 87
---------------------
"Walk Through Date" ....................................................... 43
-----------------
"Well" .................................................................... 20
----
"without incurring any liability to Tenant therefor" ...................... 86
--------------------------------------------------
"Year Five Expansion Option" .............................................. 93
--------------------------
"Year Five Expansion Space" ............................................... 93
-------------------------
"Year Five Expansion Space Commencement Date" ............................. 93
-------------------------------------------
"Year Ten Expansion Option" ............................................... 93
-------------------------
"Year Ten Expansion Space" ................................................ 93
------------------------
"Year Ten Expansion Space Commencement Date" .............................. 93
------------------------------------------
{/TABLE}
-iv-
{PAGE}
AGREEMENT OF LEASE, dated as of January 17, 2002, between Forest City
Myrtle Associates, LLC, a New York limited liability company having an office at
One Metrotech Center, 11/th/ Floor, Brooklyn, New York 11201 (herein called
"Landlord"), and Empire HealthChoice, Inc. d/b/a Empire Blue Cross Blue Shield,
a New York not-for-profit corporation having an address at 11 West 42/nd/
Street, New York, New York 10036 (herein called "Tenant").
W I T N E S S E T H:
ARTICLE 1
PREMISES, TERM AND RENT
1.1. Landlord hereby leases to Tenant and Tenant hereby hires from
Landlord, upon and subject to the terms, covenants, provisions and conditions of
this Lease, the premises in the building (the "Building") known as Nine
Metrotech Center South, Brooklyn, New York consisting of the following: the
entire rentable area on the second through ninth (2/nd/ - 9/th/) floors shown,
which second through ninth (2/nd/ - 9/th/) floors are shown on the floor plans
annexed hereto as Exhibit A (the "Premises").
Landlord and Tenant agree that the Premises shall be deemed, subject to
Section 1.7, to contain an aggregate of three hundred twenty-two thousand two
hundred twenty-eight (322,228) rentable square feet, consisting of the
following:
Rentable
Floor Square Feet
Entire 2nd 47,811
Entire 3rd 47,811
Entire 4th 43,013
Entire 5th 43,013
Entire 6th 35,145
Entire 7th 35,145
Entire 8th 35,145
Entire 9th 35,145
1.2. The term ("Term") of this Lease, shall commence on the
Commencement Date (as such term is defined in Article 16 hereof) and the Term
shall end at 11:59 p.m. on the last day of the calendar month in which the
seventeenth (17th) anniversary of the Rent Commencement Date occurs or on such
earlier date upon which this Lease shall be cancelled or terminated pursuant to
any of the conditions or covenants of this Lease or pursuant to law (subject to
renewal pursuant to Article 39 hereof, the "Expiration Date"). Landlord and
Tenant shall, promptly upon request by either party, execute and acknowledge a
certificate in form reasonably satisfactory to Landlord and Tenant setting forth
the Commencement Date, the Rent Commencement Date and the Expiration Date, which
certificate shall be deemed an integral part of this Lease, but the execution
and acknowledgment of such an instrument shall not be a prerequisite to the
commencement or expiration of the Term.
1.3. (a) Tenant shall pay to Landlord fixed annual rent (the "Fixed
Rent") as follows:
(i) Commencing on the date which is seven (7) months (subject to
adjustment pursuant to Article 16) after the Commencement Date (the "Rent
Commencement Date") through the day prior to the fifth (5/th/) anniversary of
the Rent Commencement Date, Thirty-Six Dollars ($36.00) per rentable per square
foot of the Premises (i.e. Eleven Million Six Hundred Thousand Two Hundred Eight
Dollars ($11,600,208.00) per annum, payable in monthly installments of Nine
Hundred Sixty-Six Thousand Six Hundred Eighty-Four Dollars ($966,684.00));
(ii) Commencing on the fifth (5/th/) anniversary of the Rent
Commencement Date through the day prior to the tenth (l0/th/) anniversary of the
Rent Commencement Date, Thirty-Nine and 60/100 Dollars ($39.60) per rentable per
square foot of the Premises (i.e., Twelve Million Seven Hundred Sixty Thousand
Two Hundred Twenty-Eight and 80/l00 Dollars ($12,760,228.80) per annum, payable
in monthly installments of One Million Sixty-Three Thousand Three Hundred
Fifty-Two and 40/100 Dollars ($1,063,352.40));
-1-
{PAGE}
(iii) Commencing on the tenth (10/th/) anniversary of the Rent
Commencement Date through the Expiration Date, Forty-Three and 56/100 Dollars
($43.56) per rentable per square foot of the Premises (i.e., Fourteen Million
Thirty-Six Thousand Two Hundred Fifty-One and 68/100 Dollars ($14,036,251.68)
per annum, payable in monthly installments of One Million One Hundred Sixty-Nine
Thousand Six Hundred Eighty-Seven and 64/100 Dollars ($1,169,687.64)); and
(iv) Commencing on the Rent Commencement Date, the sum of (A)
the Rentalized Amount, (B) the origination fee paid by Landlord to secure the
Rentalized Amount and (C) interest at eight percent (8%) per annum accrued on
the actual portion of Rentalized Amount drawn down, which sum shall bear
interest at the Rentalized Interest Rate (as hereinafter defined) and be payable
monthly in equal, level installments of principal and interest sufficient to
fully amortize the principal amount due hereunder by the seventeenth (17th)
anniversary of the Rent Commencement Date. As used in this Section 1.3(a)(iv),
the term "Rentalized Interest Rate" shall mean the sum of (A) eight percent (8%)
per annum and (B) the change (positive or negative) in the interest rate on
ten-year U.S. Treasury Bills as of November 2, 2001 compared to the interest
rate on ten-year U.S. Treasury Bills as of the date of the closing of the
refinancing of the mini-permanent financing Landlord is obtaining in connection
with the Building with permanent financing, which interest shall be computed on
the basis of a 360-day calendar year for the actual number of days involved.
Notwithstanding the foregoing, if the date of the closing of the aforesaid
refinancing occurs after the Rent Commencement Date, then (x) from the Rent
Commencement Date through the day preceding said closing, the "Rentalized
Interest Rate" shall be deemed to be eight percent (8%) and (y) from and after
said closing, the "Rentalized Interest Rate" shall be calculated as provided in
the preceding sentence. Tenant shall have the right to prepay the portion of the
Fixed Rent described in this Section 1.3(a)(iv) in full at any time; any such
prepayment made prior to the date of the aforesaid closing of the refinancing of
the mini-permanent loan financing with permanent financing shall be without
penalty, and any such prepayment made thereafter shall be subject to a penalty
equal to any costs or fees incurred by Landlord in connection with such
prepayment (e.g., breakages costs, prepayment penalties, etc.). This Section
1.3(b)(iv) is subject to recalculation as provided in Section 16.20, if
applicable.
(b) Tenant shall pay to Landlord additional rent (herein
called the "Additional Rent") consisting of all other sums of money as shall
become due from and payable by Tenant to Landlord pursuant to this Lease. All of
the Fixed Rent and the Additional Rent (collectively, the "Rent") due pursuant
to this Lease shall be paid in lawful money of the United States to Landlord at
its office as above stated, or such other place, or to Landlord's agent and at
such other place, as Landlord shall designate by notice to Tenant. The Rent
shall be paid, at Tenant's option, either (i) by check drawn upon (A) a New York
City bank which is a member of the New York Clearing House Association or any
successor thereto or (B) a bank which has an office in New York City (the
"City") which is a member of any other check clearing association or system in
use by money center banks in New York or (ii) by Tenant causing an amount equal
to the Rent to be transferred in immediately available federal funds for credit
to such bank account or accounts as Landlord shall, upon request of Tenant,
designate from time to time.
1.4. Except as otherwise set forth herein, Tenant shall pay all of
the Rent promptly when due without abatement, deduction or set-off, In the event
of any non-payment of Additional Rent, Landlord shall have all the rights and
remedies provided for herein or by law for non-payment of Fixed Rent. If the
Rent Commencement Date occurs on a day other than the first day of a calendar
month, or the Expiration Date occurs on a day other than the last day of a
calendar month, the Rent for the partial calendar month in which the Rent
Commencement Date or the Expiration Date occurs shall be prorated.
1.5. If Landlord at any time receives from Tenant any payment less
than the sum of the Rent then due and owing from Tenant pursuant to this Lease,
Tenant hereby waives its right, if any, to designate the items to which such
payment shall be applied and agrees that Landlord in its sole discretion may
apply such payment in whole or in part to any of the Rent then due and payable
hereunder except to the extent that Tenant shall be disputing any items of the
Rent which may be due and payable hereunder, subject to and in accordance with
the provisions of this Lease, in which case Landlord shall not apply such
payment to items which Tenant is disputing. No endorsement or statement on any
check and no letter accompanying any check or payment shall be deemed an accord
and satisfaction, and Landlord may accept such check or payment without
prejudice to Landlord's right to recover the balance due hereunder or pursue any
other remedy provided for in this Lease or available at law or in equity
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