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Title:

Building Lease

Entities:

Date:

2005

Size:

Preview shows 42KB of 239KB total

Price:

$96

ID:

#886151

 

 

► Leasing ► Building Lease Agreements

 

 

Start of Preview

BUILDING LEASE

BETWEEN

GR DEVELOPMENT ONE LLC, LANDLORD

AND

HEALTH GRADES, INC. TENANT

 

Table of Contents

TABLE OF CONTENTS

                 
Article 1 Definitions, Demise, Premises, Term, Rent     1  
 
   1.1   Definitions     1  
 
   1.2   Demise     3  
 
   1.3   Possession     3  
 
   1.4   Acceptance Letter     4  
 
   1.5   Base Rent     4  
 
   1.6   Interest on Late Payments     4  
 
   1.7   Late Payment Charge     4  
 
   1.8   Additional Rent     5  
 
   1.9   Common Areas     5  
 
   1.10   Use     5  
 
                
Article 2 Improvements, Alterations and Additions     6  
 
   2.1   Improvements     6  
 
   2.2   Alterations and Additions     8  
 
                
Article 3 Operating Expenses     9  
 
   3.1   Tenant's Payment of Operating Expenses     9  
 
   3.2   Operating Expenses     9  
 
   3.3   Estimates and Payments     12  
 
                
Article 4 Tenants Covenants and Rights     13  
 
   4.1   Parking     13  
 
   4.2   Assignment and Subletting     14  
 
   4.3   Care of Premises     16  
 
   4.4   Compliance with Law     16  
 
   4.5   Tenant's Insurance     16  
 
   4.6   Protection Against Insurance Cancellation     18  
 
   4.7   Landlord's Insurance     18  
 
   4.8   Subrogation     18  
 
   4.9   Indemnification and Waiver     19  
 
   4.10   Utilities     20  
 
   4.11   Personal Property Taxes     20  
 
   4.12   Liens     20  
 
   4.12   Security Deposit     21  
 
   4.14   No Waste     21  
 
   4.15   Signs     21  
 
   4.16   Auctions     22  
 
   4.17   Tenant's Financial Covenant     22  
 
                
Article 5 Landlords Covenants and Rights     22  
 
   5.1   Quiet Enjoyment     22  
 
   5.2   Landlord's Services     22  
 
   5.3   Alterations by Landlord     23  
 
   5.4   Entry by Landlord     24  
 
   5.5   Minimize Interference     24  
 
   5.6   Landlord's Right to Cure     24  
 
   5.7   Landlord Reservations     24  
 
                
Article 6 Eminent Domain, Casualty, Hazardous Materials     25  

(i)

Table of Contents

                 
 
   6.1   Eminent Domain.     25  
 
   6.2   Damage or Destruction     25  
 
   6.3   Hazardous Materials     27  
 
   6.4   Hazardous Materials -- Landlord's Obligations     29  
 
                
Article 7 Events of Default, Remedies     29  
 
   7.1   Events of Default     29  
 
   7.2   Landlord's Remedies upon Default     30  
 
   7.3   Bankruptcy     33  
 
                
Article 8 Miscellaneous Provisions     34  
 
   8.1   Holding Over     34  
 
   8.2   Notices     34  
 
   8.3   Authority of Tenant     34  
 
   8.4   Financial Statements     35  
 
   8.5   Authorities for Action     35  
 
   8.6   Brokerage     35  
 
   8.7   Definition of Landlord     35  
 
   8.8   Entire Agreement     35  
 
   8.9   Force Majeure     36  
 
   8.10   Severability     36  
 
   8.11   No Setoff     36  
 
   8.12   Relationship of Parties     36  
 
   8.13   Successors Bound     36  
 
   8.14   Interpretation     36  
 
   8.15   Joint and Several Obligation     37  
 
   8.16   Reservation and Easements     37  
 
   8.17   Limitation of Landlord Liability     37  
 
   8.18   Short Form Lease     37  
 
   8.19   Landlord Assignment of Rents, and Lease     37  
 
   8.20   Rules and Regulations.     38  
 
   8.21   Estoppel Certificate     38  
 
   8.22   Mortgagee Amendments and Notices     38  
 
   8.23   Subordination, Nondisturbance and Attornment     39  
 
   8.24   Attorneys' Fees     39  
 
   8.25   Landlord's Failure to Consent     39  
 
   8.26   No Waiver     39  
 
   8.27   No Merger     40  
 
   8.28   JURY TRIAL AND COUNTERCLAIM WAIVER     40  
 
   8.29   Guaranty of Lease     40  
 
   8.30   Time is of Essence     40  
 
                
Article 9 Options     40  
 
   9.1   Extension Options     40  
 
   9.2   Right of First Refusal     41  

(ii)

Table of Contents

BUILDING LEASE

     THIS BUILDING LEASE (Lease) is made as of this ___day of December, 2004, by and between GR DEVELOPMENT ONE LLC, a Colorado limited liability company (Landlord), and HEALTH GRADES, Inc., a Delaware corporation (Tenant).

ARTICLE 1
DEFINITIONS, DEMISE, PREMISES, TERM, RENT

     1.1 Definitions. In addition to the terms defined elsewhere in this Lease, the following terms shall have the meanings hereinafter set forth throughout this Lease

          (a) Additional Rent shall mean all sums payable by Tenant under this Lease other than Base Rent.

          (b) Base Rent shall mean the base rent payable by Tenant during the Term, as set forth in Section 1.5 and Exhibit A of this Lease.

          (c) Building shall mean the commercial office structure together with all appurtenant improvements, situated on the Property, and known generally as Golden Ridge Building I, 500 Golden Ridge Road, Golden, Colorado 80403.

          (d) Commencement Date shall mean the date the Term commences, which shall be February 15, 2005.

          (e) Expiration Date shall mean the last day of the calendar month that is sixty-three (63) full months following the Commencement Date, unless the Lease is earlier terminated or the Term is renewed as set forth in Article 9.

          (f) Gross Building Area shall mean the total number of square feet contained in the gross building area of the Building, which is deemed to fifty-seven thousand six hundred (57,600) square feet. If there is a significant change in the Gross Building Area as a result of an addition to the Building, partial destruction thereof, modification to Building design, or similar circumstances, which causes a reduction or increase thereto on a permanent basis, Landlords architect shall redetermine the Gross Building Area, and Landlord shall make such adjustments in the computations required under this Lease as shall be necessary to account for the change.

          (g) Landlords Notice Address shall mean GR Development One LLC, c/o NDG I Management Inc., 1621 18th Street, Suite 250, Denver, Colorado 80202, Attn: Greg C. Venn, President.

          (h) Lease Year shall mean each consecutive twelve (12) month period during the Term (as defined in Section 1.1(cc) following the Commencement Date.

          (i) Parking Areas shall mean all of the parking areas available in the REOA Common Area for use by Tenant, as set forth in the REOA.

          (j) Parking Spaces shall mean the designated spaces for parking automobiles made available to Tenant under this Lease, as set forth in the attached Exhibit B-1.

          (k) Permitted Uses shall mean those uses which Tenant may make of the Premises as specified in Section 1.10.

1

Table of Contents

          (l) Premises shall mean that portion of the Building leased to Tenant hereunder, as shown on the floor plan attached hereto as part of Exhibit B and incorporated into this Lease, and known generally as Suite 100, together with the non-exclusive use of all Building common areas.

          (m) Property shall mean that certain real property on which the Building is situated, more particularly described as Lot 1, Block 1, Golden Ridge Subdivision Filing No. 6, City of Golden, Jefferson County, Colorado.

          (n) REOA shall mean the Reciprocal Easement and Operations Agreement recorded June 8, 2000 at Reception Number F1068124 in the real estate records of the Clerk and Recorder of Jefferson County, Colorado, as amended thereafter by recorded instrument.

          (o) REOA Common Area shall mean the Common Area of all of the property that is subject to the REOA, as defined in the REOA.

          (p) REOA Costs shall mean the total of all Common Area Maintenance Costs as defined in the REOA. Tenant shall pay its proportionate share of REOA Costs as set forth in Section 3.1. REOA Costs are subject to adjustment as provided in the REOA.

          (q) Rent shall include Base Rent and Additional Rent.

          (r) Rentable Area of the Premises is deemed to be twenty-eight thousand six hundred fifty-seven (28,657) rentable square feet, except as otherwise set forth herein.

          (s) Rent Payment Address shall mean c/o NexCore Properties LLC, 2620 E. Prospect Road, Suite 100, Fort Collins, Colorado 80525.

          (t) Security Deposit shall mean the security as set forth in Section 4.13.

          (u) Service Facilities shall mean the sidewalks and stairways adjacent to the Building and the trash enclosures serving the Building.

          (v) Special Amenities shall mean Building specific amenities located on the REOA Common Area or attached to the Building, such as Tenant identification signs, postal or delivery boxes, bicycle racks, patios, outdoor seating areas, public telephones, benches or public transportation shelters, recreational facilities, fountains, artwork, and landscaping which is not of a nature, type or extent commonly installed throughout the REOA Common Area.

          (w) Substantial Completion shall mean that, with the exception of punch-list items that would not prevent the use or occupancy of the Premises for the Permitted Uses, the Tenant Improvements shall have been completed in accordance with the Tenant Improvement Plans and Specifications and all mechanical systems serving or affecting the Premises shall then be in working order, excluding any work required to be performed by Tenant to connect its equipment, furniture systems, or both to such mechanical systems in order to obtain a Certificate of Occupancy for the Premises. The date of Substantial Completion is projected to be February 15, 2005.

          (x) Tenant Improvements shall mean the improvements to the Premises to be shown on the Tenant Plans and Specifications as defined in Section 2.1
 

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