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LEASE

QUEBEC COURT I

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Between

TIME WARNER TELECOM HOLDINGS INC.

(Tenant)

and

CARRAMERICA REALTY, L.P.

(Landlord)

TABLE OF CONTENTS

i

TABLE OF CONTENTS

(continued)

ii

TABLE OF CONTENTS

(continued)

iii

TABLE OF CONTENTS

(continued)

iv

LEASE

THIS LEASE (the Lease) is made as of November 1, 2004 between CARRAMERICA REALTY, L.P., a Delaware limited partnership (the Landlord) and the Tenant as named in the Schedule below. The term Project means the building (the Building) known as Quebec Court I, the Parking Garage (as defined herein) and the land (the Land) located at 5700 South Quebec Street, Englewood, Colorado 80111. Premises means that part of the Project leased to Tenant described in the Schedule and outlined on Appendix A.

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: Time Warner Telecom Holdings Inc., a Delaware corporation.

2. Premises: The entirety of the Building.

3. Rentable Square Feet of the Premises: 130,000.

4. Tenants Proportionate Share: 100% with respect to the Building Operating Costs and 51.16% with respect to Parking Garage Operating Costs (as more particularly described in Section 3.4(a).

5. Security Deposit: None.

6. Parking: Tenant shall have the ability to park 585 automobiles allocated and in the manner as described in Section 1.2.

7. Tenants Real Estate Broker for this Lease: The Staubach Company-Front Range, LLC

8. Landlords Real Estate Broker for this Lease: None.

9. Tenant Improvements: See the Work Letter attached hereto as Appendix C.

10. Commencement Date: The term of the Lease will commence on November 1, 2004 (the Commencement Date).

11. Expiration Date/Term: The term of the Lease will expire on October 31, 2015 (the Expiration Date). The Expiration Date may be extended in accordance with the terms of Section 16. The Term means the period commencing on the Commencement Date and ending on the Expiration Date, as may be extended, unless sooner terminated pursuant to the terms of this Lease.

12. Guarantor: None.

13. Base Year: 2004.

14. Base Rent:

1. LEASE AGREEMENT.

1.1 Lease. On the terms stated in this Lease, Landlord leases the Premises to Tenant, and Tenant leases the Premises from Landlord, for the Term beginning on the Commencement Date and ending on the Expiration Date, as may be extended, unless sooner terminated pursuant to the terms of this Lease. Although the Term of this Lease will not commence until the Commencement Date, Landlord and Tenant are parties to a lease for the Premises dated December 18, 1997 as amended and extended (collectively, the Previous Lease) the term of which expires on September 30, 2005. Effective as of the Commencement Date, this Lease shall supercede and replace the Previous Lease, with the Previous Lease remaining in full force and effect through midnight on October 31, 2004 (Previous Lease Termination Date). Landlord and Tenant shall remain liable for all unsatisfied obligations that accrued under the Previous Lease prior to the Previous Lease Termination Date.

1.2 Parking.

(a) Throughout the term of the Lease, Landlord will provide Tenant, its employees and invitees the nonexclusive privilege to park 535 automobiles in non-reserved parking spaces (which non-reserved parking spaces may include up to 110 valet parking spaces located on the top level of the Parking Garage, as that term is defined herein, furnished by means

2

of a valet parking service provided by Landlord at its sole cost and expense as more fully described in Section 1.2(b) below) and the exclusive privilege to park 50 automobiles in reserved parking spaces (in the aggregate, Tenant shall have the ability to park 585 automobiles), located on the Buildings surface parking area and within the multi-level parking structure located east of and attached to the Building within the Project (the Parking Garage). The reserved parking spaces will include: (i) 25 reserved spaces located in the Buildings surface parking area near the Buildings front entrance at a specific location to be mutually agreed upon by the parties; and (ii) an additional 25 reserved parking spaces to be located on the lowest level of the Parking Garage at a location mutually agreeable to Landlord and Tenant but which shall be as close as possible to the Buildings entrance nearest the Parking Garage. The reserved parking spaces shall be designated by markings or signage such as Time Warner Telecom Reserved but in any event mutually agreed upon by Landlord and Tenant. Tenants parking rights described herein (reserved and non-reserved) shall be at no additional charge to Tenant during the Term of the Lease, as may be extended, subject to Tenants obligations with respect to Parking Garage Operating Costs (as herein defined). Tenant shall not use any parking spaces specifically designated and marked as reserved for other tenants or occupants of the Building and the adjacent building located at 5800 South Quebec Street (Quebec Court II). Any breach or violation of this covenant or any rules and regulations pertaining to parking space usage by Tenant shall constitute an Event of Default (as that term is defined in Section 13) subject to the notice and cure periods of Section 13.3. Tenant agrees to cooperate with Landlord and other tenants in the use of the parking facilities.

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