Common Area Maintenance. Subject to Articles Eleven and Twelve, Landlord shall maintain the Common Areas in good order, condition, and repair. Common Area Maintenance expenses (“CAM Expenses”) are all costs and expenses associated with the operation and maintenance of the Common Areas and the repair and maintenance of the heating, ventilation, air conditioning, plumbing, electrical, utility and safety systems (to the extent not performed by Tenant), including, but not limited to, the following: gardening and landscaping; snow removal; utility, water, sewage and property drainage services for the Common Area; maintenance of signs (other than tenants’ signs); worker’s compensation insurance; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Common Areas; fees for required licenses and permits routine maintenance and repair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; maintenance of paving, (including sweeping, striping, repairing, resurfacing and repaving); general maintenance; painting; lighting; cleaning; refuse removal; security and similar items; reserves for roof replacement, exterior painting and other appropriate reserves; and a property management fee not to exceed five percent (5%) of building revenues. Landlord may cause any or all of such services to be provided by third parties and the cost of such services shall be included in CAM Expenses. With respect to any CAM Expenses which are included for the benefit of the Property and other property. Landlord shall make a reasonable allocation of such cost between the Property and such other property. CAM Expenses shall not include the cost of capital repairs and replacements; provided, however, that (a) the annual depreciation (based on the useful life of the item under generally accepted accounting principles) of any such capital repair or replacement to the Common Areas or the heating, ventilating, air-conditioning, plumbing, electrical, utility and safety systems serving the Property, shall be included in the CAM Expenses each year during the Lease Term; and (b) the cost of capital improvements undertaken to reduce CAM Expenses or made in order to comply with legal requirements shall be included in CAM Expenses each year during the term of this Lease.
Appears in 3 contracts
Sources: Industrial Real Estate Lease (LENSAR, Inc.), Industrial Real Estate Lease (LENSAR, Inc.), Industrial Real Estate Lease (LENSAR, Inc.)
Common Area Maintenance. Subject a. Lessor shall provide, as needed in the opinion of Lessor, certain services to Articles Eleven and Twelve, Landlord shall maintain the Common Areas common areas of the Norriton Business Campus (the “Park”) in good order, conditionwhich the Demised Premises is located, and repairto the grounds surrounding the building in which the Demised Premises is located (the “Lot”). Common Area Maintenance expenses Lessor shall provide such services, if at all, at a cost comparable to market rates for such services. Said services shall include, but may not be limited to, the cutting of grass, maintenance of landscaping, snow and ice removal, maintenance of sanitary sewer systems, maintenance of retention basins, general periodic clean-up, replacement of exterior lights and bulbs and / or fixtures, common area lighting, repairs to or replacements of the parking area and access roads, including the main access roads, and seven (“CAM Expenses”7%) are percent of all the foregoing costs (excluding Real Estate Taxes and expenses associated insurance) to cover Lessor’s administrative and overhead costs; provided, however, capital repairs and replacements shall be amortized over the useful life of such capital repair or replacement in accordance with generally accepted accounting principles consistently applied and only the annual amortized amount thereof shall be included in the costs charged to Lessee on an annual basis. In all events, Lessor shall perform the foregoing common area maintenance in a manner consistent with the operation and maintenance services provided in other comparable business parks in the Greater Philadelphia Metropolitan Area.
b. Attached to this Lease as exhibit “40(b)” is a list of common area services which Lessor currently provides to each of the Common Areas Park and the repair and maintenance of the heating, ventilation, air conditioning, plumbing, electrical, utility and safety systems (to the extent Lot, which services, as to the Park, only, shall be provided throughout the Term.
c. Notwithstanding anything contained in this Lease to the contrary, common area maintenance charges shall not performed by Tenant)include:
i. Financing and refinancing costs, including, but not limited tolimited, mortgage interest, service charges, and other costs;
ii. Any cost that is reimbursed by an insurer, condemnor, Lessee, or other party and other costs caused by fire or other causality;
iii. Intentionally Omitted.
iv. Advertising, public relations, and promotional expenses and any and all other expenses attributable to efforts to increase or maintain the following: gardening and landscaping; snow removal; utility, water, sewage and property drainage services for the Common Area; maintenance specific business interests of signs (other than tenants’ signs); worker’s compensation insurance; personal property taxes; rentals Lessor or lease payments any Lessee;
v. Any interest or penalties paid by Landlord Lessor for rented late payment of common area costs; and
vi. The cost of remediating any contamination or leased personal Hazardous Materials on any property used in unless caused by Lessee
d. Services provided to the operation or maintenance of the Common Areas; fees for required licenses and permits routine maintenance and repair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; maintenance of paving, (including sweeping, striping, repairing, resurfacing and repaving); general maintenance; painting; lighting; cleaning; refuse removal; security and similar items; reserves for roof replacement, exterior painting and other appropriate reserves; and Lot shall be billed to Lessee on a property management fee not to exceed five percent (5%) of building revenues. Landlord may cause any or all of such services to be provided by third parties monthly basis and the cost of such services thereof shall be included payable as additional Rent. Lessee shall also be responsible to pay a proportionate share of common area charges for services provided generally to the Park, as set forth below.
e. Coincidental with these services, Lessor shall ▇▇▇▇ Lessee, at the option of Lessor, on a monthly basis, in CAM Expenses. With respect an amount equal to any CAM Expenses which are included one-twelfth (1/12th) of the estimated annual common area charges for the benefit Park and charges for services to the Lot, with an adjustment made during the month of January of each year of the Property and other property. Landlord Lease to correct the deficiency or overpayment for the prior calendar year.
f. Lessee’s proportionate share of said common area charges for the Park shall make a reasonable allocation of such cost between the Property and such other property. CAM Expenses shall not include the cost of capital repairs and replacements; provided, however, that (a) the annual depreciation (be based on the useful life percentage by which the square footage of the item under generally accepted accounting principles) of any such capital repair or replacement Lot on which the Demised Premises is located bears to the Common Areas or total square footage of all lots in the heating, ventilating, air-conditioning, plumbing, electrical, utility and safety systems serving the Property, Park. Any such ▇▇▇▇▇▇▇▇ shall be included in the CAM Expenses each year during the Lease Term; treated as additional rent, and (b) the cost of capital improvements undertaken to reduce CAM Expenses or made in order to comply with legal requirements shall be included as same in CAM Expenses each year during accord with the term provisions of this Lease Agreement, including Paragraph 33 of this Lease.
Appears in 2 contracts
Sources: Lease Agreement (Tengion Inc), Lease Agreement (Tengion Inc)
Common Area Maintenance. Subject Tenant agrees to Articles Eleven pay, within thirty (30) days after Landlord's written demand therefor, as additional rent, an amount equal to Tenant's Proportionate Share of "Landlord's Cost" of maintenance, repair and Twelvereplacement of the Building, the Real Property and the landscaped, parking and all other common areas thereof, both within the interior and the exterior of the Building. Upon written request of Tenant, Landlord shall maintain provide reasonable back-up documentation evidencing the Common Areas charges set forth in good orderany such written demand or invoice with respect to Landlord's Cost. The term "Landlord's Cost", conditionas used herein, and repair. Common Area Maintenance expenses (“CAM Expenses”) are all costs and expenses associated with shall be deemed to include, without limiting the operation and maintenance generality of the Common Areas foregoing, gardening, landscaping, irrigation, planting, replanting and the repair replacement of flowers, shrubbery, trees and maintenance of the heatinggrass, ventilation, air conditioning, plumbing, electrical, utility and safety systems (to the extent not performed by Tenant)striping, including, but not limited towithout limitation, the following: gardening cost of electricity and landscaping; maintenance and replacement of fixtures and bulbs, with respect to the parking areas, repair of paving, curbs and walkways, repair and cleaning of drainage facilities, trash, rubbish and garbage removal, snow and ice removal; utility, watersprinkler fireline systems and sprinkler supervisory service, sewage exterior lighting, maintenance repair and property drainage services for replacement of the Common Area; maintenance sanitary system (subject to the provisions of signs (▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇), ▇▇▇▇▇▇▇▇▇▇▇, repair and replacement ofthe roofthat is located over the common area of the Building, rental of machinery and equipment, cost of personnel to implement all of the foregoing, security and security guard service, and other than tenants’ signs); worker’s compensation insurance; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used similar costs of the type incurred in the operation or maintenance of the Common Areas; fees for required licenses and permits routine maintenance and repair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; maintenance of paving, (including sweeping, striping, repairing, resurfacing and repaving); general maintenance; painting; lighting; cleaning; refuse removal; security and similar items; reserves for roof replacement, exterior painting and other appropriate reserves; and a property comparable properties plus Landlord's management fee not to exceed five percent of four (54%) percent of building revenuesLandlord's Cost. The parties acknowledge and agree that (i) Landlord may cause any or all does not, and will not be required to, provide concierge services at the Building, and (ii) the usage of such services to irrigation systems serving the Real Property shall be provided measured by third parties and two (2) existing meters for purposes of determining the cost of such services shall irrigation to be included in CAM ExpensesLandlord's Cost. With respect In an effort to any CAM Expenses which are included control Landlord's Cost, Landlord agrees that, for the benefit of the Property and other property. first Lease Year, Landlord shall make a either (y) use Tenant's current vendors for services at the Real Property, or (z) in the event Tenant's current vendors are not performing the required services to Landlord's reasonable allocation of such cost between the Property satisfaction, utilize vendors with pricing structures and such other property. CAM Expenses shall not include the cost of capital repairs and replacements; provided, however, that (a) the annual depreciation (based on the useful life of the item under generally accepted accounting principles) of any such capital repair or replacement service levels reasonably comparable to the Common Areas or pricing structures ofTenant's current vendors. From and after the heatingsecond Lease Year, ventilating, air-conditioning, plumbing, electrical, utility and safety systems serving the Property, shall be included in the CAM Expenses each year during the Lease Term; and (b) the cost Landlord agrees to use vendors whose rates are reasonably competitive with those of capital improvements undertaken to reduce CAM Expenses or made in order to comply with legal requirements shall be included in CAM Expenses each year during the term of this Leaseother vendors offering similar services for comparable buildings. 48.
Appears in 1 contract
Common Area Maintenance. Subject Commencing on the date the first Monthly Rental payment is due for the first full calendar month of the term, Tenant shall also pay to Articles Eleven Landlord a monthly sum (Monthly Common Area Payment) at the time minimum monthly rent is due which Monthly Common Area Payment shall be applied toward Tenant's share of Common Area as herein provided. The amount of the first Monthly Common Area payment shall be the sum set forth in a letter of notification from Landlord to Tenant. Common area costs included, but shall not be limited to, amounts paid to a third person, firm, or corporation for a management fee; costs incurred by Landlord for resurfacing, repainting, restriping, cleaning, sweeping, supplies (e.g. light bulbs and Twelvetubes), Landlord shall maintain and other janitorial services; amounts incurred in purchase, construction and maintenance of refuse receptacles, amounts incurred in painting and relandscaping, costs of directional signs and other markers, and car stops, costs of lighting and other utilities, reasonable depreciation allowance on improvements, machinery, and equipment used in connection with the Common Areas common areas; all costs of keeping the exterior foundations, exterior walls, downspouts, gutters, roofs, plumbing sewage systems and air conditioning systems of the building in good order, conditioncondition and repair, and repairany and all parking charges, utility surcharges or any other costs levied, assessed or imposed by, or at the direction of, or resulting from statutes or regulations, or interpretations thereto, promulgated by any governmental authority in connection with the use or occupancy of the Premises or the common area; and all the costs (including payments on equipment) necessary in Landlord's judgment for the maintenance and operation of the common areas. Common Area Maintenance expenses (“CAM Expenses”) are all area costs and expenses associated with the operation and maintenance of the Common Areas and the repair and maintenance of the heating, ventilation, air conditioning, plumbing, electrical, utility and safety systems (to the extent not performed by Tenant), including, but not limited to, the following: gardening and landscaping; snow removal; utility, water, sewage and property drainage services for the Common Area; maintenance of signs (other than tenants’ signs); worker’s compensation insurance; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Common Areas; fees for required licenses and permits routine maintenance and repair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; maintenance of paving, (including sweeping, striping, repairing, resurfacing and repaving); general maintenance; painting; lighting; cleaning; refuse removal; security and similar items; reserves for roof replacement, exterior painting and other appropriate reserves; and a property management fee not to exceed five percent (5%) of building revenues. Landlord may cause any or all of such services to be provided by third parties and the cost of such services shall be included in CAM Expenses. With respect to any CAM Expenses which are included for the benefit of the Property and other property. Landlord shall make a reasonable allocation of such cost between the Property and such other property. CAM Expenses shall not also include the cost to Landlord of capital repairs and replacements; provided, however, that (a) any additional improvements made to the annual depreciation (based on common area after the useful life commence of the item under generally accepted accounting principles) term. Tenant's proportionate share of any such capital repair or replacement Common Area costs shall be the ratio of the total square feet in the Leased Premises bears to the Common Areas or the heating, ventilating, air-conditioning, plumbing, electrical, utility and safety systems serving the Property, shall be included total number of leaseable square feet in the CAM Expenses each year during the Lease Term; and (b) the cost of capital improvements undertaken to reduce CAM Expenses or made in order to comply with legal requirements shall be included in CAM Expenses each year during the term of this Leasecomplex.
Appears in 1 contract
Sources: Standard Form Industrial Lease (Intellisys Group Inc)
Common Area Maintenance. Subject In addition to Articles Eleven and Twelve, Landlord shall maintain the Common Areas in good order, conditionbe rent above provided, and repair. Common Area Maintenance expenses (“CAM Expenses”) are all costs and expenses associated with as additional lease rent, Lessee shall pay its proportionate share of the cost of operation and maintenance of the common area. Common Areas area is defined for all purposes of this lease as part of the Warehouse intended for the common use of all Lessees, including among other facilities (as such may be applicable to the Warehouse) parking area, private streets and alleys, landscaping, curbs, curb cuts, loading area, sidewalks, lighting facilities and pylon signs. Lessor agrees to maintain the repair Common area in good condition and repair, ordinary wear and tear excepted. Lessor's operating costs shall mean the costs and expense of operating, maintaining, and managing the common area in a manner deemed by Lessor to be reasonable and appropriate and for the best interests of the Warehouse including, without limitation, all costs and expense of operating, maintaining, repairing or replacing the parking lot, sweeping, stripping, patching or resurfacing, landscape mowing, replanting and replacing flowers, shrubbery and planters, watering landscape areas, security service for the Warehouse, if any is provided, maintenance, repairing and electric expenses of the pylon sign, exterior building painting, electric expense for parking lot lighting, replacement of light bulbs and other common area lighting. Notwithstanding the foregoing to the contrary: (i) the cost of operation and maintenance shall not include capital improvements made to the building, costs of repairs, restoration or replacement occasioned by fire, storm or acts of God, replacements to the extent covered by warranties, and costs due to the negligence or tort of Landlord or an agent, employee or contractor of Lessor; (ii) in the event all or a portion of the parking lot is replaced, the cost thereof shall be amortized over fifteen (15) years from and after the date the applicable replacement is completed; and (iii) the replacement of all or any portion of the parking lot because of defective materials or workmanship shall not be included in the cost of operation and maintenance of the heating, ventilation, air conditioning, plumbing, electrical, utility and safety systems (to the extent not performed by Tenant), including, but not limited to, the following: gardening and landscaping; snow removal; utility, water, sewage and property drainage services for the Common Area; maintenance common area. Lessee's share of signs (other than tenants’ signs); worker’s compensation insurance; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Common Areas; fees for required licenses and permits routine maintenance and repair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; maintenance of paving, (including sweeping, striping, repairing, resurfacing and repaving); general maintenance; painting; lighting; cleaning; refuse removal; security and similar items; reserves for roof replacement, exterior painting and other appropriate reserves; and a property management fee not to exceed five percent (5%) of building revenues. Landlord may cause any or all of such services to be provided by third parties and the cost of such services operation, maintenance, replacements described above and management of the common area shall be included in CAM Expenses. With respect to any CAM Expenses which are included for the benefit of the Property determined, estimated and other property. Landlord shall make a reasonable allocation of such cost between the Property and such other property. CAM Expenses shall not include the cost of capital repairs and replacements; provided, however, that (a) the annual depreciation (based on the useful life of the item under generally accepted accounting principles) of any such capital repair or replacement to the Common Areas or the heating, ventilating, air-conditioning, plumbing, electrical, utility and safety systems serving the Property, shall be included paid in the CAM Expenses each year during the Lease Term; same manner as Lessee's Share of taxes and (b) the cost insurance. The first year's estimate of capital improvements undertaken to reduce CAM Expenses or made in order to comply with legal requirements shall be included in CAM Expenses each year during the term of this Leasetaxes, insurance and common area maintenance is $4,068.00 per month which is broken dawn as follows: $.75/sq. ft./year for estimated taxes, $.1▇/▇▇.ft./year for estimated insurance, $.22/sq. ft./year for estimated CAM, and $.06/sq. ft./year for estimated management fees.
Appears in 1 contract
Sources: Sublease (Sportsmans Guide Inc)
Common Area Maintenance. Subject In addition to Articles Eleven the Base Rent above provided, and Twelveas Additional Rent, Landlord Tenant shall maintain pay its Proportionate Share of the cost of operation and maintenance (herein collectively “CAM Costs”) of the Common Areas in good order, condition, and repairArea (hereafter defined). Common Area Maintenance expenses is defined for all purposes of this Lease as the Center except for the Improvements and shall specifically include among other facilities (“as such may be applicable to the Center) parking area, private streets and alleys, landscaping, curbs, loading area, sidewalks, exterior lighting facilities and Center signs; provided, however, for the sole purpose of determining CAM Expenses”) are Costs, the exterior surfaces of the improvements shall be considered Common Area. Landlord reserves the right to change from time to time the dimensions and location of the Common Area provided that such changes shall not adversely affect access to the Leased Premises. Landlord’s CAM Costs shall mean the costs and expense of operating, maintaining and managing the Common Area in a manner deemed by Landlord to be reasonable and appropriate and for the best interests of the Center including, without limitation, all costs and expenses, if any, of operating, maintaining or repairing the parking lot (including but not limited to sweeping, stripping and patching), snow removal, landscape mowing, replanting and replacing flowers, shrubbery and planters, watering landscape areas, stormwater charges, fire protection, security service for the Center, if any is provided, maintenance, repair and electric expenses associated of the Center sign (tenants are responsible for their individual panels), operating, maintaining or repairing parking lot lighting, replacing parking lot light bulbs, electric expense for parking lot lighting and other Common Area lighting and exterior building painting. CAM Costs shall not include the following expenditures: (1) leasing commissions, attorneys’ fees and other expenses related to leasing tenant space, disputes or enforcement of any leases, and constructing improvements for the sole benefit of an individual tenant; (2) repairs, replacements and general maintenance paid by insurance proceeds to the extent for which Landlord has collected insurance benefits; (3) depreciation of the Center and other “non-cash” items; (4) principal and interest payments and points and fees on any indebtedness (including any ground or underlying leases) secured by liens against the Center, or costs of refinancing such indebtedness; (5) expenses incurred in leasing or procuring new tenants, including advertising and marketing expenses and expenses for preparation of leases, space planning or renovating space for new tenants, rent allowances, lease takeover costs, payment of moving costs and similar costs and expenses; (6) expenses for repairs or maintenance related to the Center which have been reimbursed to Landlord pursuant to warranties or service contracts; (7) costs of any work or service performed for or provided to any tenant (including Tenant) at such tenant’s costs; (8) costs of work for improvements to a vacant space which is or normally would be occupied by tenants; (9) any portion of Capital Improvements in excess of $25,000/year (so, Tenant may be billed 11.11% of Capital Improvement costs of up to $25,000/year ); (10) Landlord’s general corporate overhead and general and administrative expenses except as it relates specifically to the actual management of the Center; (11) costs incurred to contain, a▇▇▇▇, remove or otherwise clean up the Center required as a result of the presence of hazardous materials in, about or below the Center to the extent caused by Landlord or another tenant; (12) reserves for repairs, maintenance and replacements; (13) any costs, fines or penalties incurred to comply, or for any violation or the failure to comply, with any governmental regulations and rules or any court order, decree or judgment including, without limitation, the Americans with Disabilities Act; and (14) attorneys’ fees, accounting fees and expenditures incurred in connection with disputes and claims of other tenants or occupants of the Center. Tenant’s Proportionate Share of the cost of operation and maintenance of the Common Areas Area shall be determined, estimated and the repair paid and maintenance of the heating, ventilation, air conditioning, plumbing, electrical, utility and safety systems (to the extent not performed by Tenant), including, but not limited to, the following: gardening and landscaping; snow removal; utility, water, sewage and property drainage services for the Common Area; maintenance of signs (other than tenants’ signs); worker’s compensation insurance; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used “trued up” in the operation or same manner as Tenant’s share of taxes and insurance. The first year’s estimate of Tenant’s share of taxes, insurance and common area maintenance of the Common Areas; fees for required licenses and permits routine maintenance and repair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; maintenance of paving, (including sweeping, striping, repairing, resurfacing and repaving); general maintenance; painting; lighting; cleaning; refuse removal; security and similar items; reserves for roof replacement, exterior painting and other appropriate reserves; and a property management fee not to exceed five percent (5%) of building revenues. Landlord may cause any or all of such services to be provided by third parties and the cost of such services shall be included in CAM Expenses. With respect to any CAM Expenses which are included for the benefit of the Property and other property. Landlord shall make a reasonable allocation of such cost between the Property and such other property. CAM Expenses shall not include the cost of capital repairs and replacements; provided, however, that (a) the annual depreciation (based on the useful life of the item under generally accepted accounting principles) of any such capital repair or replacement to the Common Areas or the heating, ventilating, air-conditioning, plumbing, electrical, utility and safety systems serving the Property, shall be included in the CAM Expenses each year during the Lease Term; and (b) the cost of capital improvements undertaken to reduce CAM Expenses or made in order to comply with legal requirements shall be included in CAM Expenses each year during the term of this Leaseis $1,720.00 per month.
Appears in 1 contract
Common Area Maintenance. Subject Lessor shall provide certain services to Articles Eleven the common areas of the development in which the Demised Premises is located and Twelvethe grounds surrounding the building on the Demised Premises. Lessor shall provide such services at a cost equal to or below market rates for such services. Lessor shall only pass through to Lessee, Landlord a proportionate share of the reasonable, actual out-of-pocket costs incurred by Lessor in providing such services. Said services shall maintain included, but may not be limited to, the Common Areas in good ordercutting of grass, conditionmaintenance of landscaping, snow and ice removal, maintenance of sanitary sewer systems, maintenance of retention basins, taxes and insurance for sanitary sewer systems and retention basins, maintenance upkeep of campus signs, general periodic clean-up, replacement of exterior lights and bulbs and/or fixtures, common area lighting, repairs to the parking area and access road, including the main access roads, and repairseven (7%) percent of all the foregoing costs (excluding taxes and insurance) to cover the Lessor’s administrative and overhead costs. Common Area Maintenance expenses (“CAM Expenses”) are all costs and expenses associated with the operation and maintenance of the Common Areas and the repair and maintenance of the heating, ventilation, air conditioning, plumbing, electrical, utility and safety systems (Notwithstanding anything contained in this Lease to the extent contrary, common area maintenance charges shall not performed by Tenant)include:
(a) Depreciation or amortization, financing and refinancing costs, including, but not limited to, the following: gardening and landscaping; snow removal; utilitymortgage interest, waterservice charges, sewage and property drainage services for the Common Area; maintenance of signs (other than tenants’ signs); worker’s compensation insurance; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Common Areas; fees for required licenses and permits routine maintenance and repair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; maintenance of paving, (including sweeping, striping, repairing, resurfacing and repaving); general maintenance; painting; lighting; cleaning; refuse removal; security and similar items; reserves for roof replacement, exterior painting and other appropriate reserves; costs;
(b) Any cost that is reimbursed by an insurer, condemnor, tenant, or other party and a property management fee not to exceed five percent other costs caused by fire or other casualty;
(5%c) of building revenues. Landlord may cause Expenditures for capital replacements or improvements or any or all of such services cost required to be provided by third parties and the cost of such services shall be included in CAM Expenses. With respect to any CAM Expenses which are included for the benefit of the Property and other property. Landlord shall make a reasonable allocation of such cost between the Property and such other property. CAM Expenses shall not include the cost of capital repairs and replacements; provided, however, that (a) the annual depreciation (based on the useful life of the item capitalized under generally accepted accounting principles;
(d) Advertising, public relations, and promotional expenses and any and all other expenses attributable to efforts to increase or maintain the specific business interests of the Lessor or any tenant;
(e) The cost of correcting defects (latent or otherwise) in the construction of any such capital repair buildings or replacement to the Common Areas common areas or the heating, ventilating, air-conditioning, plumbing, electrical, utility and safety systems serving the Property, shall be included in the CAM Expenses equipment servicing the same, except that conditions (not occasioned by the construction defects) resulting from ordinary wear and tear-need not be deemed defects;
(f) Any interest or penalties paid by the Lessor for late payment of common area costs; and
(g) The cost of remediating any contamination or Hazardous Materials on any property unless caused by Lessee. Coincidental with these services, Lessor shall ▇▇▇▇ Lessee, at the option the Lessor (a) monthly, being one-twelfth (1/12th) portion of the estimated common area charges due, with an adjustment made during the month of January of each year during of the Lease Term; and to correct the deficiency or overpayment for the prior calendar year, or (b) the cost of capital improvements undertaken to reduce CAM Expenses or made in order to comply with legal requirements quarterly (every three [3] months) for said common area charges. Any such ▇▇▇▇▇▇▇▇ shall be included treated as additional rent, and shall be as same in CAM Expenses each year during accord with the term provisions of this Lease Agreement, including Paragraph 35 of this Lease.
Appears in 1 contract
Sources: Sub Sublease Agreement (Tengion Inc)
Common Area Maintenance. Subject Tenant shall pay to Articles Eleven Landlord as additional rent an additional payment on the first day of each month occurring during the Term hereof one-twelfth (1/12) of the amount of "Common Area Maintenance Costs" (as hereinafter defined) for each twelve month period beginning on each December 1st occurring within the Term, as reasonably estimated by Landlord from time to time according to this Section 5.1 (Common Area Maintenance Costs are currently estimated at $89,000 for the year ending 12/31/97). The "Common Area Maintenance Costs" include the expenses in the following categories and Twelveshall be prorated in accordance with the prorations set forth within each category:
1. Building and Lot Related Expenses, which shall be allocated 100% to Tenant, shall include maintenance of water tight integrity of the roof walls, windows and skylights of the Building (Landlord and Tenant hereby agreeing that in the event that any item for maintenance of the water tight integrity exceeds $5,000, then Tenant shall maintain have the right to require Landlord to obtain 3 competitive bids from a list of subcontractors mutually agreed upon by Landlord, Tenant and Landlord's manufacturer of the item so being maintained); the annual amortized portion for Landlord's cost of Capital Replacements, as defined in Section 6. 1, for any capital items purchased by Landlord in accordance with Section 6. 1, maintenance and repair of, sewer (i.e. on site sewer system), utility, fire main and fire hydrant facilities, and drainage facilities exclusively serving the Building; maintenance of the Building entrance sign; maintenance, repair and striping, snow removal and sanding of the parking and loading area(s) and driveways on the Lot; fertilization, mowing, and watering of lawns on the Lot and landscaping and care of shrubbery and general grounds upkeep of the Lot; changing of street-lamp lights, walk-way lights, and parking lights, and keeping same in proper working condition, and any other services, repairs, or maintenance performed solely for the benefit of the Building; management and Building supervision fees, and insurance premiums procured by Landlord on Tenant's behalf as specified in Article XV;
2. Traffic Related Expenses, which shall be allocated on the basis of the ratio of the number of parking spaces exclusively for Tenant's use under this Lease to the aggregate total number of parking spaces within the Office Park, shall include snow removal and sanding of common drives and parking lots, maintenance and repair of the Office Park entrance signs, maintenance and repair of Office Park lighting, traffic signals, and traffic control personnel required for the Office Park, maintenance and repair of Office Park walks, and Office Park non-exclusive parking and any other traffic or common Office Park roadway or walk-way related expenses;
3. Landscaping/Drainage/Other General Office Park Related Expenses, which shall be allocated on the basis of the ratio of the square footage of the Building to the aggregate square footage of all completed buildings including the Building in the Office Park, as such buildings are completed from time to time, shall consist of the maintenance and repair of sewer, utilities, and drainage facilities, maintenance and repair of detention and fire main and fire hydrant facilities which service the Office Park generally and are not exclusive to any single building within the Office Park; fertilization, mowing, and watering of lawns and landscaping and care of shrubbery and general grounds upkeep of access drives, entrance areas and other such portions of the Office Park the landscaping of which actually and substantially benefits the Premises; and liability insurance costs for the Common Areas of the Office Park;
4. Sewer Treatment Plant Expenses, including real estate taxes associated with sewer treatment plant land and buildings, shall consist of the expenses of operating, maintaining and repairing the sewage treatment plant, which expenses shall be allocated on the basis of the ratio of the square footage of the Building to the aggregate square footage of all completed buildings including the Building on all lots in good orderthe Park, conditionas such buildings are completed and connected for service from time to time to the sewer treatment plant, and repairthe annual amortized portion for Capital Replacements or improvements to the plant shall be allocated on the ratio of the Building square footage to the aggregate square footage of all completed buildings in the Office Park. Notwithstanding any contrary provision of this Lease, if Landlord incurs any Common Area Maintenance expenses (“CAM Expenses”) Cost that is properly classifiable as a capital expenditure according to generally accepted accounting principles and good building management practices and the regulations and directives of the Internal Revenue Service, then such Common Area Maintenance Cost shall be amortized over its useful life according to such principles, practices, regulations and directives, and only the annual amortized portion shall be included in Common Area Maintenance Costs for any twelve month period within the Term. Notwithstanding anything to the contrary in this Lease contained, Tenant shall not be required to pay any Common Area Maintenance Costs attributable to:
1. Repairs which are all the responsibility of the Landlord as set forth in Article VI, including, structural repairs, as well as repairs or other work occasioned by fire or other casualty or by the exercise of eminent domain;
2. Leasing commissions, attorneys' fees, costs and disbursements and other expenses associated incurred in connection with the operation and maintenance negotiations or disputes with other tenants, occupants or prospective tenants or occupants of the Common Areas and the repair and maintenance Office Park;
3. Interest, principal, ground rent, or other payments under any mortgage, ground lease or other financing of the heating, ventilation, air conditioning, plumbing, electrical, utility Lot or the Office Park;
4. Any advertising or promotional expenditures;
5. Services or work provided for other tenants and safety systems (occupants of the Office Park and not substantially benefiting Tenant on a commensurate basis and any expense for which Landlord is entitled to be reimbursed directly by any such other tenant or tenants;
6. Overhead or profit increment paid to subsidiaries or affiliates of Landlord for services on or to the Premises to the extent that the costs of such services exceed competitive costs of such services were they not performed so rendered by a subsidiary or affiliate.
7. Expenses related to salaries, wages, benefits and other expenses of executives, principals, administration staff and other employees of Landlord or Landlord's Management Agent not involved directly in the operations of the Building or Office Park;
8. Expenses related to leasehold improvements made in connection with the preparation of any portion of the Building or Office Park or occupancy by a new or existing tenant which is not generally beneficial to all tenants of the Building;
9. Expenses related to efforts to procure new tenants for other buildings or premises located in the Office Park, including advertising expenses, leasing commissions and attorneys fees;
10. Expenses related to Landlord's general overhead not directly related to the management or operations of the Building or Office Park;
11. Expenses related to depreciation of the Building;
12. Expenses related to Landlord or Landlord's Managing Agents breach or violation of a law, lease or other obligations, including fines, penalties and attorney's fees;
13. Expenses related to compensation paid to employees or other persons in connection with commercial concessions operated by Landlord or Landlord's Managing Agent;
14. Expenses related to fees for licenses, permits or inspections resulting from the act or negligence of Landlord, Landlord's Management Agent or any other tenant of the Office Park;
15. Expenses related to any items with respect to which Landlord receives reimbursement from insurance proceeds or from a third party;
16. Costs and expenses of construction related to an expansion of the rentable area of the Building or Office Park or the parking areas serving the Building or Office Park;
17. Expenses related to costs or charges properly chargeable or attributable to a particular tenant or tenants,
18. Expenses related to any utility or other service used or consumed by other tenants or occupants of the Office Park;
19. Expenses related to environmental testing, remediation and compliance, Landlord and Tenant hereby agreeing, that this exclusion is not intended to limit the provisions of Section 16.2 of this Lease;
20. Expenses related to compliance by Landlord with laws existing as of the date of this Lease, including without limitation the American with Disabilities Act and the regulations of the standards thereunder, except to the extent that any such non-compliance was created by Tenant), 's use of the Premises; and
21. Management and building supervision fees exceeding 2.5% of annual Fixed Rent. Tenant shall be solely responsible for paying all utilities including, but not limited to, the following: gardening and landscaping; snow removal; utilityto electricity, water, sewage and property drainage services for the Common Area; maintenance of signs (other than tenants’ signs); worker’s compensation insurance; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used consumed in the operation Building or maintenance on the Lot, and the electrical ▇▇▇▇ shall be placed in the Tenant's name and billed directly by the utility to Tenant. If Tenant fails to pay any such bills and such failure continues after written notice to Tenant and the expiration of the applicable grace period, Landlord shall have the right to pay such bills, and to recover such payment from Tenant with any interest and/or penalties chargeable thereon as additional rent. Written notice to Tenant and grace period will not be applicable in case of emergency with respect to potential damage to persons or property. Tenant recognizes that Landlord may retain the services of such independent contractors or affiliates as may be necessary for Landlord to fulfill its obligations hereunder. Landlord shall provide to Tenant within 120 days of the end of each calendar year an annual accounting, in writing, of actual Common Areas; fees Area Maintenance Costs for required licenses such calendar year, and permits routine maintenance Landlord shall maintain complete books and repair records relating to Common Area Maintenance Costs sufficient to verify these charges and Tenant, its accountants and agents shall have access to such books and records at reasonable times with prior written notice. If the total of roof membraneTenant's estimated payments on account of Common Area Maintenance Costs for such calendar year exceeds the actual Common Area Maintenance Costs for such year, flashingsLandlord shall repay to Tenant such excess thirty (30) days after the delivery to Tenant of such annual accounting. If the total of Tenant's estimated payments on account of Common Area Maintenance Costs for such calendar year falls short of the actual Common Area Maintenance Costs for such year, guttersTenant shall pay to Landlord such shortage thirty (30) days after Tenant's receipt of such accounting. Based on reasonable estimates of increases in costs covered by this Section, downspoutsLandlord reserves the right to adjust the amount of Tenant's estimated payments on account of Common Area Maintenance Costs annually at the time of such accounting effective on the first day of each calendar year during the Term hereof upon thirty (30) days' prior written notice to Tenant and upon providing Tenant with documentation supporting such estimates. Any such change shall be effective retroactively to the first day of the calendar year during which the adjustment is made. Notwithstanding anything contained herein, roof drains, skylights and waterproofing; maintenance Landlord reserves the right to separately invoice Tenant for Tenant's proportionate share of paving, (including sweeping, striping, repairing, resurfacing and repaving); general maintenance; painting; lighting; cleaning; refuse removal; security and similar items; reserves any actual Common Area Maintenance Costs which exceeds the amount for roof replacement, exterior painting and other appropriate reserves; and a property management fee not to exceed such item in Landlord's then current estimate of Common Area Maintenance Costs by greater than five percent (5%) ). Any such change shall be effective retroactively to the first day of building revenuesthe calendar year during which the adjustment is made. None of such Common Area Maintenance Costs shall exceed amounts which are charged for such expenses in the Westford, Massachusetts area for property of the same general type and size as in the Office Park. Landlord may cause any or agrees that all of such services to be provided by third parties and the cost as part of such services Common Area Maintenance Costs shall be included in CAM Expenses. With respect to any CAM Expenses which are included for obtained by Landlord at commercially reasonable, competitive market rates consistent with the benefit operation of the Property and other property. Landlord shall make a reasonable allocation of such cost between the Property and such other property. CAM Expenses shall not include the cost of capital repairs and replacements; provided, however, that (a) the annual depreciation (based on the useful life of the item under generally accepted accounting principles) of any such capital repair or replacement to the Common Areas or the heating, ventilating, air-conditioning, plumbing, electrical, utility and safety systems serving the Property, shall be included comparable office buildings in the CAM Expenses each year during the Lease Term; and (b) the cost of capital improvements undertaken to reduce CAM Expenses or made in order to comply with legal requirements shall be included in CAM Expenses each year during the term of this LeaseWestford, Massachusetts area.
Appears in 1 contract
Common Area Maintenance. Subject to Articles Eleven and Twelve, Landlord shall maintain the Common Areas in good order, condition, and repair. Common Area Maintenance expenses (“"CAM Expenses”") are all costs and expenses associated with the operation and maintenance of the Common Areas and the repair and maintenance of the heating, ventilation, air conditioning, plumbing, electrical, utility utility, and safety systems (to the extent not performed by Tenant), including, but not limited to, the following: gardening and landscaping; snow removal; utility, water, . water and sewage and property drainage services for the Common Area; maintenance of signs (other than tenants’ Tenant's signs); worker’s 's compensation insurance; personal property taxes; rentals rental or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Common Areas; fees for required licenses and permits permits; routine maintenance and repair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; maintenance of paving, (paving [including sweeping, striping, repairing, resurfacing resurfacing, and repaving); general maintenance; paintingmaintenance Painting; lighting; cleaning; refuse removal; security and similar items; reserves for roof replacement, exterior painting and other appropriate reserves; and a property management fee (not to exceed five three percent (53%) of building revenuesthe gross rents of the Premises for the calendar year). Landlord may cause any or all of such services to be provided by third parties and the cost of such services shall be included in CAM Expenses. With Expenses with respect to any CAM Expenses which are included for the benefit of the Property Premises and other property. , Landlord shall make a reasonable allocation of such cost between the Property Premises and such other property. CAM Expenses shall not include include: (a) the cost of capital repairs and replacements; , provided, however, that (a) the annual depreciation (based on the useful life of the item under generally accepted accounting principles) of any such capital repair or replacement to the Common Areas or the heating, ventilating, air-conditioning, plumbing, electrical, utility and safety systems serving the Property, Premises shall be included in the CAM Expenses each year during the Lease Termterm of this Lease; and (b) the cost of capital improvements improvements, provided, however, that the annual depreciation (based on the useful life of the item under generally accepted accounting principles) of any capital improvement undertaken to reduce CAM Expenses or made in order to comply with legal requirements shall be included in CAM Expenses each year during the term of this Lease.
Appears in 1 contract
Common Area Maintenance. Subject to Articles Eleven and Twelve, Landlord shall maintain the Common Areas in good order, condition, and repair. Common Area Maintenance expenses (“CAM Expenses”) are all costs and expenses associated with the operation and maintenance of the Common Areas and the repair and maintenance of the heating, ventilation, air conditioning, plumbing, electrical, utility utility, and safety systems (to the extent not performed by Tenant), including, but not limited to, the following: gardening and landscaping; snow removal; utility, water, water and sewage and property drainage services for the Common Area; maintenance of signs (other than tenants’ signs); worker’s compensation insurance; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Common Areas; fees for required licenses and permits permits; routine maintenance and repair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; maintenance of paving, paving (including sweeping, striping, repairing, resurfacing resurfacing, and repaving); general maintenance; painting; lighting; cleaning; refuse removal; security and similar items; reserves for roof replacement, exterior painting and other appropriate reserves; and a property management fee (not to exceed five percent (5%) of building revenuesthe gross rents of the Property for the calendar year). Landlord may cause any or all of such services to be provided by third parties and the cost of such services shall be included in CAM Expenses. With respect to any CAM Expenses which are included for the benefit of the Property and other property. , Landlord shall make a reasonable allocation of such cost between the Property and such other property. CAM Expenses shall not include the following:
(a) the cost of capital repairs and replacements; , provided, however, that (a) the annual depreciation (based on the useful life of the item under generally accepted accounting principles) of any such capital repair or replacement to the Common Areas or the heating, ventilating, air-conditioning, plumbing, electrical, utility and safety systems serving the Property, Property shall be included in the CAM Expenses each year during the Lease Term; and term of this Lease;
(b) the cost of capital improvements improvements, provided, however, that the annual depreciation (based on the useful life of the item under generally accepted accounting principles) of any capital improvement undertaken to reduce CAM Expenses or made in order to comply with legal requirements shall be included in CAM Expenses each year during the term of this Lease;
(c) cost of permits, licenses and inspection fees incurred by Landlord to prepare, renovate, repaint, or redecorate any space leased to any existing tenant or prospective tenant of the Property;
(d) advertising and promotional expenditures incurred to lease space to new tenants or retain existing tenants;
(e) legal fees and expenses incurred by Landlord to resolve disputes with tenants;
(f) cost of replacement of any items covered under warranty;
(g) cost to correct or any penalty or fine incurred by Landlord due to Landlord’s violation of any federal, state or local law or regulation;
(h) the Landlord’s general corporate overhead and administrative expenses;
(i) any cost to test, survey, cleanup, contain, ▇▇▇▇▇, remove or otherwise remedy hazardous waste or asbestos containing materials unless they are in or on the Premises due to tenant’s negligence or intentional act;
(j) cost of repairs caused by the Landlord’s negligence;
(k) interest or penalties for any late payments by Landlord;
(l) costs (including, without limitation, attorneys’ fees and disbursements) incurred in connection with any judgment, settlement or arbitration award resulting from any tort liability;
(m) compensation paid to any Property employee to the extent that the same is not fairly allocable to the work or service provided by such employee to the Property;
(n) costs of repairs or replacements incurred by reason of fire or other casualty or caused by the exercise of the right of eminent domain, whether or not insurance proceeds or a condemnation award are recovered or adequate for such purposes (however, deductibles are includable in Direct Expenses);
(o) costs of any heating, ventilating, air conditioning, janitorial or other services provided to other tenants during other than Property business hours;
(p) rent or other charges payable under any ground or underlying lease;
(q) costs of any item which are reimbursable to Landlord by other tenants or third parties other than through operating costs pass-through provisions in the leases of other tenants of the Property (if any);
(r) except for normal office equipment and short-term rentals of machines or equipment, lease payments for rented equipment, the cost of which equipment would constitute a capital expenditure if the equipment were to have been purchased (except to the extent that amortization of any such capital expenditure would be permitted as a Direct Expense pursuant to the Lease);
(s) the cost of furnishing and installing replacement light bulbs and ballasts in any tenant areas of the Property, excluding the Premises;
(t) an amount equal to all amounts received by Landlord through proceeds of insurance to the extent the proceeds are compensation for expenses which (i) previously were included in operating costs hereunder, (ii) are included in operating costs for the comparative year in which the insurance proceeds are received or (iii) will be included as operating costs in a subsequent comparative year;
(u) costs and expenses of governmental licenses and permits, or renewals thereof, unless the same are for governmental licenses or permits normal to the operation or maintenance of the Property;
(v) costs of any work or service performed for any facility or property other than the Property;
(w) any expenses related exclusively to any retail or storage space in, on or about the Property or appurtenant or adjacent thereto;
(x) costs of electrical energy furnished directly to any Premises of other tenants, or to other rentable areas, of the Building, other than costs of electrical energy for the Property’s HVAC system;
(y) any expense paid to Landlord or subsidiaries or affiliates of Landlord for goods and/or services in or to any portion of the Building to the extent that such expense exceeds the costs of such goods and/or services rendered by unaffiliated third parties on a competitive basis;
(z) costs related to maintaining Landlord’s existence, either as a corporation, partnership, or other entity, or costs incurred by Landlord relative to any debt, which encumbers the property. By example these costs shall include, but not be limited to tax return preparation, filing costs, legal costs;
(aa) audited financial statements if these are required by an agreement between Landlord and another party, which shall include, but not be limited to a lender, partner or ground lessor;
(bb) costs related to events for other tenants of the Property including, but not limited to parties, holiday gifts and tenants welcoming gifts;
(cc) costs arising from Landlord’s charitable or political contribution; and,
(dd) costs for reserves of any kind.
Appears in 1 contract
Common Area Maintenance. Subject to Articles Eleven and Twelve, Landlord shall maintain the Common Areas in good order, condition, and repair. Common Area Maintenance expenses (“"CAM Expenses”") are all costs and expenses associated with the operation and maintenance of the Common Areas and the repair and maintenance of the heatingTHE REPAIR AND MAINTENANCE OF THE HEATING, ventilationVENTILATION, air conditioningAIR CONDITIONING, plumbingPLUMBING, electricalELECTRICAL, utility and safety systems UTILITY, AND SAFETY SYSTEMS (to the extent not performed by TenantTO THE EXTENT NOT PERFORMED BY TENANT), including, but not limited to, the following: gardening and landscaping; snow removal; utility, water, utility water and sewage and property drainage services for the Common Area; maintenance of signs (other than tenants’ Tenant's signs); worker’s 's compensation insurance; personal property taxes; rentals rental or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Common Areas; fees for required licenses and permits permits; routine maintenance and repair of roof membraneREPAIR OF ROOF MEMBRANE, flashingsFLASHINGS, guttersGUTTERS, downspoutsDOWNSPOUTS, roof drainsROOF DRAINS, skylights and waterproofingSKYLIGHTS AND WATERPROOFING; maintenance of paving, paving (including sweeping, striping, repairing, resurfacing and repavingRESURFACING, AND REPAVING); general maintenance; paintingmaintenance Painting; lighting; cleaning; refuse removal; security and similar items; reserves for roof replacement, exterior painting and other appropriate reserves; and a property management fee not to exceed five percent AND A PROPERTY MANAGEMENT FEE (5NOT TO EXCEED THREE PERCENT (3%) of building revenuesOF THE GROSS RENTS OF THE PREMISES FOR THE CALENDAR YEAR). Landlord may cause any or all of such services to be provided by third parties and the cost of such services shall be included in CAM Expenses. With Expenses with respect to any CAM Expenses which are included for the benefit of the Property Premises and other property. , Landlord shall make a reasonable allocation of such cost between the Property Premises and such other property. CAM Expenses shall not include the cost of capital repairs and replacements; EXPENSES SHALL NOT INCLUDE: (a) THE COST OF CAPITAL REPAIRS AND REPLACEMENTS, provided, however, that (a) the annual depreciation ANNUAL DEPRECIATION (based on the useful life of the item under generally accepted accounting principles) of any such capital repair or replacement to the Common Areas or the heating, ventilating, air-conditioning, plumbing, electrical, utility and safety systems serving the Property, shall be included in the Premises SHALL BE INCLUDED IN THE CAM Expenses each year EXPENSES EACH YEAR during the Lease Termterm of this Lease; and (b) the cost COST OF CAPITAL IMPROVEMENTS, provided, however, that the annual DEPRECIATION (based on the useful life of capital improvements undertaken to reduce the item under generally accepted accounting principles) OF ANY CAPITAL IMPROVEMENT UNDERTAKEN TO REDUCE CAM Expenses EXPENSES or made in order to comply with legal requirements shall be included in SHALL BE INCLUDED IN CAM Expenses EXPENSES each year during the term of this Lease.
Appears in 1 contract
Sources: Industrial Real Estate Lease (Petco Animal Supplies Inc)
Common Area Maintenance. Subject to Articles Eleven and Twelve, Landlord shall maintain the Common Areas in good order, condition, and repair. Common Area Maintenance expenses (“CAM Expenses”) are all costs and expenses associated with the operation and maintenance of the Common Areas and the repair and maintenance of the heating, ventilation, air conditioning, plumbing, electrical, utility utility, and safety systems (to the extent not performed by Tenant), including, but not limited to, the following: gardening and landscaping; snow removal; utility, water, water and sewage and property drainage services for the Common Area; maintenance of signs (other than tenants’ signs); worker’s compensation insurance; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Common Areas; fees for required licenses and permits permits; routine maintenance and repair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; maintenance of paving, paving (including sweeping, striping, repairing, resurfacing resurfacing, and repaving); general maintenance; painting; lighting; cleaning; refuse removal; security and similar items; reserves for roof replacement, exterior painting and other appropriate reserves; and a property management fee (not to exceed five percent (5%) of building revenuesthe gross rents of the Property for the calendar year). Landlord may cause any or all of such services to be provided by third parties and the cost of such services shall be included in CAM Expenses. With respect to any CAM Expenses which are included for the benefit of the Property and other property. , Landlord shall make a reasonable allocation of such cost between the Property and such other property. CAM Expenses shall not include include: (a) the cost of capital repairs and replacements; , provided, however, that (a) the annual depreciation (based on the useful life of the item under generally accepted accounting principles) of any such capital repair or replacement to the Common Areas or the heating, ventilating, air-conditioning, plumbing, electrical, utility and safety systems serving the Property, Property shall be included in the CAM Expenses each year during the Lease Termterm of this Lease; and (b) the cost of capital improvements improvements, provided, however, that the annual depreciation (based on the useful life of the item under generally accepted accounting principles) of any capital improvement undertaken to reduce CAM Expenses or made in order to comply with legal requirements shall be included in CAM Expenses each year during the term of this Lease.
Appears in 1 contract
Sources: Industrial Real Estate Lease (Spinal Elements Holdings, Inc.)
Common Area Maintenance. Subject to Articles Eleven and Twelve, Landlord shall maintain the Common Areas in good order, condition, and repair. Common Area Maintenance expenses (“"CAM Expenses”") are all costs and expenses associated with the operation and maintenance of the Common Areas and the repair and maintenance of the heating, ventilation, air conditioning, plumbing, electrical, utility utility, and safety systems (to the extent not performed by Tenant), including, but not limited to, the following: gardening and landscaping; snow removal; utility, water, water and sewage and property drainage services for the Common Area; maintenance of signs (other than tenants’ ' signs); worker’s 's compensation insurance; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Common Areas; fees for required licenses and permits permits; routine maintenance and repair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; maintenance of paving, paving (including sweeping, striping, repairing, resurfacing resurfacing, and repaving); general maintenance; painting; lighting; cleaning; refuse removal; security and similar items; reasonable reserves for roof replacement, exterior painting and other appropriate reasonable reserves; and a property management fee (not to exceed five three and one-half percent (53.5%) of building revenuesthe gross rents of the Property for the calendar year). CAM Expenses do not include (a) principal and interest payable by Landlord on any obligation secured by any encumbrance on the Property or any leasehold interest of Landlord or principal and interest payable by Landlord in connection with any other obligation incurred by Landlord with respect to the Property , or portion thereof; (b) costs, expenses or disbursements for services or facilities provided to a particular tenant or occupant of the Property, including Landlord; (c) costs and expenses incurred by Landlord to procure tenants for the Property, including but not limited to brokerage commissions, architectural, engineering or legal fees, and advertising or remodeling costs relating to the space leased; (d) costs and expenses attributable to enforcing leases against tenants in the Property, including but not limited to attorneys' fees, court costs, and adverse judgments; (e) any costs, fines or penalties due to violations by Landlord of any governmental rule or authority; (f) the cost of correcting any code violations that occurred prior to commencement of the Lease term; (g) moving or relocation; and (h) general overhead, including allocated overhead of Landlord, its general partners or their affiliates, including but not limited to compensation and other benefits for staff and management personnel other than staff and management personnel employed, engaged or retained specifically in connection with the management and operation of the Property. Landlord may cause any or all of such services to be provided by third parties and the cost of such services shall be included in CAM Expenses. With respect to any CAM Expenses which are included for the benefit of the Property and other property. , Landlord shall make a reasonable allocation of such cost between the Property and such other property. CAM Expenses shall not include include: (a) the cost of capital repairs and replacements; , provided, however, that (a) the annual depreciation (based on the useful life of the item under generally accepted accounting principles) of any such capital repair or replacement to the Common Areas or the heating, ventilating, air-conditioning, plumbing, electrical, utility and safety systems serving the Property, Property shall be included in the CAM Cam Expenses each year during the Lease Termterm of this Lease; and (b) the cost of capital improvements undertaken to reduce CAM Expenses or made in order to comply with legal requirements shall be included in CAM Expenses each year during improvements, provided, however, that the term annual depreciation (based on the useful life of this Lease.the item under generally accepted accounting principles) of any
Appears in 1 contract
Common Area Maintenance. Subject Common area maintenance charges (hereinafter referred to Articles Eleven as “CAM”) shall mean any and Twelveall costs, expenses and obligations incurred by Landlord shall maintain in connection with the Common Areas operation, ownership, management, repair and replacement, if necessary, of the Building and the Property, including, without limitation, the following:
(A) the operation, repair, maintenance and replacement in good ordercondition of the common areas, conditionincluding parking areas, loading and repairunloading areas, trash areas, roadways, sidewalks, walkways, parkways, driveways, landscaped areas, striping, bumpers, irrigation systems, drainage systems, lighting facilities, fences and gates, exterior signs and tenant directories;
(B) water, gas, electricity, telephone and other utilities servicing the common areas;
(C) trash disposal, janitorial services, snow removal, property management (not to exceed three percent (3%) of the gross revenues of the Property) and security services;
(D) reserves set aside for maintenance, repair and replacement of the common areas and Building;
(E) environmental monitoring and insurance programs;
(F) monthly amortization of capital improvements to the common areas and the Building (subject to the other terms of this Lease). Common Area Maintenance expenses The monthly amortization of any given capital improvement shall be the sum of the (“CAM Expenses”i) are all costs and expenses associated with quotient obtained by dividing the operation and cost of the capital improvement by Landlord's estimate of the number of months of useful life of such improvement plus (ii) an amount equal to the cost of the capital improvement times 1/12 of the lesser of 12% or the maximum annual interest rate permitted by law; and
(G) maintenance of the Common Areas Building including, but not limited to, painting, caulking and the repair and maintenance replacement of the heating, ventilation, air conditioning, plumbing, electrical, utility and safety systems (to the extent not performed by Tenant)Building components, including, but not limited to, roof, elevators and fire detection and sprinkler systems (subject to the following: gardening and landscaping; snow removal; utility, water, sewage and property drainage services for the Common Area; maintenance other terms of signs (other than tenants’ signsthis Lease); worker. The estimated monthly amount of Tenant’s compensation insurance; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used Pro Rata Share of CAM is set forth in the operation or maintenance Item 13 of the Common Areas; fees Basic Lease Provisions, which amount is subject to increase as provided for required licenses and permits routine maintenance and repair herein. Operating Expenses for any calendar year during which actual occupancy of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; maintenance of paving, (including sweeping, striping, repairing, resurfacing and repaving); general maintenance; painting; lighting; cleaning; refuse removal; security and similar items; reserves for roof replacement, exterior painting and other appropriate reserves; and a property management fee not to exceed five the Project is less than one hundred percent (5100%) of building revenues. Landlord may cause any or all of such services to be provided by third parties and the cost of such services shall be included in CAM Expenses. With respect to any CAM Expenses which are included for the benefit Rentable Area of the Property and other property. Landlord shall make a reasonable allocation be appropriately adjusted to reflect one hundred percent (100%) occupancy of such cost between the existing Rentable Area of the Property and during such other property. CAM Expenses shall not include the cost of capital repairs and replacements; provided, however, that (a) the annual depreciation (based on the useful life of the item under generally accepted accounting principles) of any such capital repair or replacement to the Common Areas or the heating, ventilating, air-conditioning, plumbing, electrical, utility and safety systems serving the Property, shall be included in the CAM Expenses each year during the Lease Term; and (b) the cost of capital improvements undertaken to reduce CAM Expenses or made in order to comply with legal requirements shall be included in CAM Expenses each year during the term of this Leaseperiod.
Appears in 1 contract
Sources: Industrial Lease (Sow Good Inc.)
Common Area Maintenance. Subject Common area maintenance charges (hereinafter referred to Articles Eleven and Twelve, Landlord shall maintain the Common Areas in good order, condition, and repair. Common Area Maintenance expenses (as “CAM ExpensesCAM”) are shall mean any and all costs costs, expenses and expenses associated obligations incurred by Landlord in connection with the operation operation, ownership, management, repair and maintenance replacement, if necessary, of the Common Areas Building and the Project, including, without limitation, the following: (i) the maintenance, repair and replacement, if necessary, of the downspouts, gutters and the non-structural portions of the roof; (ii) the paving, repair and maintenance of the heatingall parking facilities, ventilationaccess roads, air conditioningdriveways, truck ways, sidewalks and passageways; (iii) loading docks and access ramps, trunk-line plumbing (as opposed to branch-line plumbing, electrical, utility ); (iv) common utilities and safety systems exterior lighting; (to the extent not performed by Tenant), including, but not limited to, the following: gardening and v) landscaping; (vi) snow removal; utility(vii) fire protection; (viii) exterior painting of the Building and other improvements within the Project; (ix) interior painting of the common areas of the Project (excluding the Premises), water, sewage if any; (x) management fees not to exceed three percent (3%) of Base Rent from the Project determined without regard to any abatement or reduction in Rent applicable to the period of determination); and property drainage services for (xi) additions or alterations made by Landlord to the Common Area; maintenance of signs Project or the Building in order to comply with New Legal Requirements (other than tenants’ signs); worker’s compensation insurance; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Common Areas; fees for those expressly required licenses and permits routine maintenance and repair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; maintenance of paving, (including sweeping, striping, repairing, resurfacing and repaving); general maintenance; painting; lighting; cleaning; refuse removal; security and similar items; reserves for roof replacement, exterior painting and other appropriate reserves; and a property management fee not to exceed five percent (5%) of building revenues. Landlord may cause any or all of such services herein to be made by Tenant) or that result in reducing CAM, provided by third parties and that the cost of such services additions or alterations that are permitted to be capitalized for federal income tax purposes shall be included in CAM Expenses. With respect amortized on a straight line basis over a period equal to any CAM Expenses which are included for the benefit of the Property and other property. Landlord shall make a reasonable allocation of such cost between the Property and such other property. CAM Expenses shall not include the cost of capital repairs and replacements; anticipated useful life thereof as determined by Landlord’s contractor, provided, however, that the amount amortized for alterations and additions that are made for the purpose of reducing CAM shall not exceed the reasonably estimated savings in CAM for that calendar year as determined by Landlord’s engineer. If at any time during a calendar year within the Lease Term, the Project is not 100% occupied, CAM that vary with occupancy shall be “grossed up” and determined by Landlord as if the Project has been 100% occupied. Additionally, CAM does not include (a1) personal property taxes paid by any tenant; (2) payments of principal and interest or other finance charges made under mortgages or ground rent under ground leases; (3) leasing commissions; (4) the annual depreciation costs of renovating space for tenants; (based 5) capital repairs or replacement of any base Building items or Project items, specifically including costs associated with the Building foundation, exterior walls, roof, utlities and infrastructure on the useful life of the item under Project except as specifically set forth above; (6) other costs and expenses incurred by Landlord that are required to be capitalized in accordance with generally accepted accounting principlesprinciples except as specifically set forth above; (7) non-cash items, such as depreciation of the Building or any other improvements in the Project, and all equipment, fixtures, improvements and facilities used in connection therewith except as specifically provided for above, or interest on capital invested; (8) costs of providing to other tenants of the Project services which are not available to Tenant; (9) marketing, promotions or advertising of any kind; (10) attorneys’ fees and other legal costs incurred as a result of defaults by, or litigation or other disputes with other tenants of the Project; (11) wages, salaries, fees and fringe benefits paid to administrative or executive personnel of Landlord or Landlord’s managing agent except to the extent such capital personnel are employed to operate, repair or replacement manage the common areas, Building or Project; (12) any costs relating to hazardous materials, asbestos and the like not resulting from the act, omission or neglect of Tenant, its agents, employees, contractors or invitees, specifically including the cost of any environmental remediation; (13) costs incurred due to the Common Areas violation by Landlord of the terms and conditions of this Lease or negligence of the heating, ventilating, air-conditioning, plumbing, electrical, utility Landlord; (14) attorneys’ fees and safety systems serving other legal costs incurred as a result of litigation or other disputes with Tenant; (15) costs of restoration or repairs to the Property, shall be included extent of net insurance or condemnation proceeds received by Landlord with respect thereto or that is covered by warranty; (16) costs incurred by Landlord in the CAM Expenses each year during sale, financing, refinancing, mortgaging, selling or change of ownership of the Lease TermProject, including brokerage commissions, attorney’s fees and accountants’ fees, closing costs, title insurance premiums, transfer taxes and interest charges; and (b17) costs to correct, or any penalty or fine related to, any violation of any federal, state, or local law or regulation relating to the cost of capital improvements undertaken to reduce CAM Expenses or made in order to comply with legal requirements shall be included in CAM Expenses each year during the term of this LeaseProject.
Appears in 1 contract
Sources: Lease Agreement (Invitae Corp)
Common Area Maintenance. Subject to Articles Eleven and Twelve, Landlord Tenant shall maintain the Common Areas in good order, condition, and repair. Common Area Maintenance expenses pay its pro-rata share of common area maintenance costs (“CAM ExpensesCAM”) are all costs and expenses associated with the operation ), real estate taxes (as defined in Section 3), property insurance (as defined in Section 10.1), repairs and maintenance of the Common Areas and the repair and maintenance of the heating, ventilation, air conditioning, plumbing, electrical, utility and safety systems (to the extent not performed by Tenant), including, but not limited to, the following: gardening and landscaping; snow removal; utility, water, sewage and property drainage services for the Common Area; maintenance of signs (other than tenants’ signs); worker’s compensation insurance; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Common Areas; fees for required licenses and permits routine maintenance and repair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; maintenance of paving, (including sweeping, striping, repairing, resurfacing and repaving); general maintenance; painting; lighting; cleaning; refuse removal; security and similar items; reserves for roof replacement, exterior painting and other appropriate reserves; and a property management fee (not to exceed five percent (5%) of building revenuesTenant’s Rent collected for the applicable calendar year), cleaning, security, all utilities not individually metered and any other operating expenses related to the customary, day to day operation of the Building. CAM shall include the actual amount (without profit or “▇▇▇▇ up” by Landlord may cause or any affiliate of Landlord) of all necessary, competitive and reasonable costs and expenses, without duplication, actually incurred by Landlord in operating and maintaining the Building (including amenities) in an appropriate manner commensurate with good business practice, including all costs and expenses reasonably and actually incurred by Landlord in repairing, lighting, cleaning and maintaining the Property and in clearing, treating and/or removing snow, ice and debris therefrom. Notwithstanding the foregoing, in no event will CAM include any of the following:
(a) Costs attributable to seeking and obtaining new tenants as well as retaining existing tenants including, but not limited to, advertising, brokerage commissions, architectural, engineering, attorney’s fees, renovations and capital improvements;
(b) Costs attributable to enforcing leases against tenants in the Property including, but not limited to, attorney’s fees, court costs, adverse judgments and similar expenses;
(c) Costs that are reimbursable to the Landlord by tenants as a result of provisions contained in their specific leases including, but not limited to, excessive use of utilities;
(d) All items and services for which tenants reimburse the Landlord or all pay third persons or which the Landlord provides selectively to one or more tenants without reimbursement;
(e) Repairs and maintenance performed in another tenant’s exclusive space and not in the Common Areas;
(f) Depreciation and amortization of such debt;
(g) Costs incurred due to violations by the Landlord of any of the terms and conditions of any leases in the Property;
(h) Overhead and profit paid to subsidiaries or affiliates of the Landlord for management services or materials to be provided by third parties and the extent that the cost of such those items would not have been paid had the services shall and materials been provided by unaffiliated parties on a competitive basis;
(i) Interest on any mortgages of Landlord and rental under any ground or underlying lease;
(j) Rentals and other related expenses incurred in leasing air conditioning systems, elevators or other equipment ordinarily considered to be included of a capital nature, except equipment used in CAM Expenses. With respect providing janitorial services not affixed to the building;
(k) Repairs and other work occasioned by fire, windstorm or other casualty for which Landlord is reimbursed by insurance that was, or was required to be, carried under this Lease;
(l) Costs of removal, encapsulation, remediation or abatement of Hazardous Materials or compliance with ADA in the Property or any leasable space;
(m) Any fines or penalties incurred due to violations by Landlord of any governmental rule or authority;
(n) Wages, salaries or other compensation paid to any executive employees above the grade of property manager;
(o) The costs of correcting any code violations;
(p) Costs attributable to repairing items that are covered by warranties.
(q) Costs of repairing, replacing or otherwise correcting defects (but not the costs of repair for normal wear and tear) in the construction of the Building or such tenant improvements for which Landlord is responsible.
(r) Costs incurred in connection with the sale, financing, refinancing, mortgaging, selling or change of ownership of the Building, including brokerage commissions, attorneys’ and accountants’ fees, closing costs, title insurance premiums, transfer taxes and interest charges.
(s) Any compensation paid to clerks, attendants or other persons in commercial concessions operated by Landlord in the Building;
(t) The rent for Landlord’s on-site leasing office or property management office;
(u) Increased insurance premiums caused by Landlord’s or any other tenants hazardous acts or additional costs incurred by reason of a particular use of the Building by other tenants or occupants or by reason of additional security required due to the character or nature of such occupants;
(v) Consulting costs and expenses paid by Landlord;
(w) Costs of a capital nature, including, without limitation, capital improvements, capital repairs, capital equipment and capital tools, all as determined in accordance with generally accepted accounting principles, other than those newly required by the government or that actually reduce operating expenses to the extent of such reduction as reasonably projected by Landlord. If the Property is not fully occupied at any time during the initial Lease Year, Landlord shall reasonably adjust those elements of CAM Expenses which are included vary with occupancy in the Property for such Lease Year, employing sound accounting and management principles consistent with the terms of this Lease, to the amount of CAM that would have been incurred had the Property been 95% occupied for the benefit of the Property and other property. Landlord shall make a reasonable allocation of such cost between the Property and such other property. CAM Expenses shall not include the cost of capital repairs and replacementsentire Lease Year; provided, however, that in no event shall the adjustments under this paragraph permit Landlord to collect from all tenants in the Property, as Additional Rent, more than one hundred percent (a100%) of CAM paid or incurred by Landlord for such adjusted items. Within one hundred twenty (120) days after the annual depreciation end of each calendar year, Landlord shall provide Tenant with a detailed statement setting forth all CAM costs, including Taxes and any other Additional Rent, for the preceding calendar year (based on “Annual CAM Charges Statement”). For a period of six (6) months after Landlord delivers such statement to Tenant, Tenant or its representative shall have the useful life right to audit Landlord’s books and records related to CAM, Taxes and Insurance and Landlord shall make such records available to Tenant or its representative for review and copying, at no cost to Tenant. In the event of an overcharge, Landlord shall immediately reimburse Tenant the amount of the item under generally accepted accounting principles) overcharge along with interest at the rate of any such capital 4% over the prime rate published by Citibank N.A. and in the event the overcharge exceeds five percent (5%), Landlord shall reimburse Tenant for the reasonable cost of the audit. Landlord shall operate, maintain and repair or replacement to the Common Areas and the Property or cause the heatingsame to be done in a manner so as to maintain the Property in good, ventilatingfirst class order, air-conditioning, plumbing, electrical, utility repair and safety systems serving the Property, shall be included in the CAM Expenses each year during the Lease Term; and (b) the cost of capital improvements undertaken to reduce CAM Expenses or made in order to comply with legal requirements shall be included in CAM Expenses each year during the term of this Leasecondition.
Appears in 1 contract
Sources: Building Lease (Qumu Corp)
Common Area Maintenance. Subject to Articles Eleven Tenant shall pay as Additional Rent, Tenant's Proportionate Share of all Common Area Maintenance Charges (as defined below) during the Lease Term if the manner provided in Section 6.03 hereof. As used herein, "Common Area Maintenance Charges" shall mean all expenses, costs and Twelve, disbursements which Landlord shall maintain pay or become obligated to pay in connection with operating, maintaining and repairing the Building, Common Areas and Park Areas, snow removal, rubbish removal, cleaning, landscaping, operation of any common security system, common elevator, or heating and air conditioning system, or otherwise including, without limitation: (a) all wages and salaries of all Persons employed in good orderconnection therewith (including taxes, conditioninsurance and benefits relating thereto), (b) the cost of all supplies and materials used in connection therewith, (c) all maintenance, janitorial and service agreements including management agreements providing management fees not in excess of those customarily charged in the Greater Boston area, (d) utilities not separately metered, (e) insurance including, without limitation, casualty insurance, rent insurance, flood, hazard insurance, if applicable, liability insurance, by umbrella or otherwise, and repairall such other insurance coverage as Landlord's mortgagees or ground lessors may from time to time require Landlord may from time to time reasonably require or Landlord deems necessary or desirable under the circumstances, (f) assessments and other charges imposed on the owners of the Building or allocated to the Building, or the maintenance of the Park pursuant to operating covenants or otherwise, (g) capital items which are primarily for the purpose of reducing common charges or which may be required by a governmental authority as reasonably amortized by Landlord, and (h) pursuing any application for an abatement of Taxes. Common Area Maintenance expenses Charges shall not Include (“CAM Expenses”1) are all capital items, except as provided above, (2) specific costs billed to and expenses associated paid by specific tenants, or (3) costs incurred by Landlord during the first two Lease Years in connection with the operation and maintenance of the Common Areas and the repair and maintenance of the heating, ventilation, air conditioning, plumbing, electrical, utility roof and safety systems (to the extent not performed by Tenant), including, but not limited to, the following: gardening and landscaping; snow removal; utility, water, sewage and property drainage services for the Common Area; maintenance of signs (other than tenants’ signs); worker’s compensation insurance; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance structural elements of the Building. Common Areas; fees for required licenses and permits routine maintenance and repair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; maintenance of paving, (including sweeping, striping, repairing, resurfacing and repaving); general maintenance; painting; lighting; cleaning; refuse removal; security and similar items; reserves for roof replacement, exterior painting and other appropriate reserves; and a property management fee not to exceed five percent (5%) of building revenues. Landlord may cause any or all of such services to be provided by third parties and the cost of such services Area Charges shall be included determined on an accrual basis in CAM Expenses. With respect to any CAM Expenses which are included for the benefit of the Property and other property. Landlord shall make a reasonable allocation of such cost between the Property and such other property. CAM Expenses shall not include the cost of capital repairs and replacements; provided, however, that (a) the annual depreciation (based on the useful life of the item under accordance with generally accepted accounting principles) of any such capital repair or replacement to the Common Areas or the heating, ventilating, air-conditioning, plumbing, electrical, utility and safety systems serving the Property, principles which shall be included in the CAM Expenses each year during the Lease Term; and (b) the cost of capital improvements undertaken to reduce CAM Expenses or made in order to comply with legal requirements shall be included in CAM Expenses each year during the term of this Leaseconsistently applied.
Appears in 1 contract
Sources: Net Lease (Kofax Image Products Inc)