|
|
|
|
Document Preview Office Lease |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Office Lease |
|||
|
Entities: |
||||
|
Date: |
2003 |
|||
|
Size: |
Preview shows 7KB of 102KB total |
|||
|
Price: |
$47 |
|||
|
ID: |
#346740 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
INGALLS OFFICE LEASE
THIS OFFICE LEASE ("Lease") is made this 10th day of December, 2001, by and
between (i) INGALLS BUILDING CO. LTD., an Ohio limited liability company
("Landlord") and (ii) Grad Partners, Inc., a Delaware Corporation ("Tenant") as
follows:
RECITALS
A. Landlord is the owner of the real property located at 6 East Fourth
Street, Cincinnati, Ohio 45202 (the "Property"). The Property is
improved by a 15-story building and certain other improvements
(collectively, the "Building").
B. Tenant desires to lease from Landlord and Landlord desires to lease to
Tenant approximately four thousand, seven hundred and twenty-eight
(4,728) rentable square feet of space known as Suite 300, located on
the Third (3rd) floor of the Building outlined in red on the floor
plan attached hereto as Exhibit A (the "Premises"), together with the
nonexclusive right to use all areas of the Property not regularly and
customarily leased for the exclusive use of tenants including, but not
limited to, lobbies, entranceways, vestibules, elevators, restrooms,
common hallways and common stairs (collectively, the "Common Areas")
for the Term, the Rent and subject to the conditions and covenants
hereinafter provided. Notwithstanding the foregoing, the Premises do
not include and Tenant will have no right to occupy any of the
exterior surfaces of the Building.
C. Notwithstanding the foregoing, Landlord hereby acknowledges that
pursuant to the Ingalls Office Lease between Tenant and Landlord,
dated July 30, 2001, Tenant is currently leasing approximately two
thousand three hundred and sixty-four (2,364) rentable square feet,
and at the time of occupancy of the additional leased space adjacent
to the Premises currently occupied by Tenant, the existing Lease shall
terminate in accordance with the provisions of Exhibit E attached
hereto.
AGREEMENT
NOW THEREFORE, in consideration of the premises and the mutual promises set
forth herein, the receipt and sufficiency of which are hereby acknowledged, the
parties hereby agree as follows:
1. Term.
1.1 Initial Term. Subject to and upon the terms and conditions set
forth herein or in any exhibit or addendum hereto, this Lease shall continue in
force for a term of Sixty (60) months (the "Term") commencing on the earlier of
the following dates (the "Commencement Date") (i) the date Tenant takes
occupancy of the Premises, or (ii) the date Landlord has substantially completed
its improvements to the Premises.
1.
{PAGE}
2. Rent.
2.1 Base Rent Initial Term. Tenant shall pay to Landlord as "Base
Rent" for the Initial Term, in legal tender and in immediately available funds,
at Landlord's office at 6 East Fourth Street, Suite 1200, Cincinnati, Ohio
45202, or as directed from time to time by Landlord's notice, the sums set forth
below:
{TABLE}
{CAPTION}
Period Annual Rate/RSF Annual Rent Monthly Rent
------ --------------- ----------- ------------
{S} {C} {C} {C}
02/01/02 to 03/01/03 $11.50 $54,372.00 $4,531.00
03/01/03 to 03/31/07 $12.00 $56,736.00 $4,728.00
{/TABLE}
2.2 Base Rent Renewal Term. Tenant shall pay to Landlord as "Base
Rent" for the Renewal Term(s), in legal tender and in immediately available
funds, at Landlord's office at Ingalls Building Co. Ltd., 6 East Fourth Street,
Suite 1200, Cincinnati, OH 45202, or as directed from time to time by Landlord's
notice,
2.3 Additional Rent.
2.3.1 In addition to the Base Rent specified in Section 2.1
above, Tenant agrees to pay Tenant's Share (as hereinafter defined) of the
amount, if any, by which the Operating Expenses and Taxes for any calendar year
during the Term after 2001 exceeds the Taxes and Operating Expenses for 2001
(the amount of any such excess being called the "Additional Rent"). Certain
terms are defined as follows:
2.3.1.1 Tenant's Share: The amount of Tenant's pro rata share of
the Expense Escalation for any calendar year after 2001. Tenant's pro rata share
is agreed to be Four Percent (4%), which shall be adjusted in the event that the
total rentable square feet changes.
2.3.1.2 Taxes: (i) All real estate taxes, if any, payable
(adjusted after protest or litigation, if any) for any part of the Term of this
Lease, exclusive of penalties or discounts, on the Property, (ii) any taxes
which shall be levied in lieu of any such taxes on the gross rentals of the
Property, (iii) any special assessments against the Property which shall be
required to be paid during the calendar year in respect to which taxes are being
determined, and (iv) the expense of contesting the amount or validity of any
such taxes, charges or assessments, such expense to be applicable to the period
of the item contested.
2.3.1.3 Operating Expenses: Those expenses incurred or paid on
behalf of Landlord with respect to the management, operation and maintenance of
the Property which, in accordance with accepted principles of sound accounting
practice used by Landlord, as applied to the operation, management and
maintenance of comparable office buildings, are properly chargeable to the
operation and maintenance of the Property, and the cost, as reasonably amortized
by Landlord, with interest at the rate of 10% per annum on the unamortized
amount, of any capital improvement made after completion of initial construction
of the Building which reduces other Operating Expenses, but in an amount not to
exceed such reduction for the relevant year. If Landlord is not furnishing any
|
End of Preview |
Home Intelligence Services Subscriptions News About Us