Third Amendment to Lease Agreement
This Third Amendment to Lease Agreement ("Third Amendment")
is effective as of the day of September, 1997,
between K-P Plaza Limited Partnership, a Texas limited
partnership ("Landlord"), and AMRESCO, Inc., a Delaware
corporation ("Tenant").
W I T N E S S E T H :
WHEREAS, Landlord and Tenant entered into that certain
Office Lease Agreement dated February 9, 1996, as amended by that
certain First Amendment to Office Lease dated July 17, 1996
("First Amendment"), covering approximately 130,606 rentable
square feet of area ("Original Premises") located on the entire
17th, 22nd, 23rd, 24th, and 25th floors and part of the 16th
floor as more particularly described in the Lease and commonly
referred to as Suite 2500 in the office building located at ▇▇▇
▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ (the "Building") within the development
commonly known as the Plaza of the Americas situated on Blocks
257 and 258 in the City of Dallas, Texas;
WHEREAS, Landlord and Tenant entered into that Second
Amendment to Lease Agreement dated May 27, 1997 ("Second
Amendment"), whereby Tenant leased 3,858 rentable square feet of
area located on the 16th floor of the Building on a temporary
basis (the Temporary Space"), all as set forth in the Second
Amendment (such Office Lease Agreement, as amended by the First
Amendment and Second Amendment, is hereafter referred to as the
"Lease")
WHEREAS, the Lease expires on October 31, 2006; and
WHEREAS, Landlord and Tenant desire to amend the Lease to,
among other things, temporarily expand the Premises by an
additional 3,128 rentable square feet of area common known as
Suite 1630 on the 16th floor of the Building as shown on EXHIBIT
"A" to this Third Amendment ("Additional Temporary Premises"),
all as more fully set forth in this Third Amendment;
NOW, THEREFORE, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged,
Landlord and Tenant hereby agree to amend the Lease as follows:
1. Definitions. Unless otherwise defined, all defined terms in
this Third Amendment have the same meaning as in the Lease.
2. Premises. Beginning on September 15, 1997, and continuing
only until and including March 31, 1998, the Premises as
described in the Basic Office Lease Information incorporated into
the Lease will increase by 3,128 rentable square feet of area so
that the Premises will total 137,592 rentable square feet of area
as depicted on Exhibit "A" to this Third Amendment. From and
after April 1, 1998, the Premises will revert to the Original
Premises, and Tenant shall have no further right to occupy the
Additional Temporary Premises. If Tenant fails to vacate the
Additional Temporary Premises by March 31, 1998, then Tenant
shall be a tenant at will with respect to the Additional
Temporary Premises, and the provisions of Section 22 of the Lease
entitled "Holding Over" will apply to Tenant's occupancy of the
Additional Temporary Premises.
3. Term. The Term of the Lease remains unchanged by this Third
Amendment.
4. Basic Rental. Beginning on September 15, 1997, and
continuing only until and including March 31, 1998, Tenant shall
pay Landlord Basic Rental for the Additional Temporary Premises
in the manner provided in Section 4.a of the Lease at the annual
rate of $16.00 per rentable square foot of area within the
Additional Temporary Premises (i. e., $4,170.67 per month).
Beginning on September 15, 1997, and continuing only until and
including March 31, 1998, Tenant, in addition to the Basic Rental
set forth above, shall pay Landlord in the manner provided for in
the Lease all other amounts due under the Lease applicable to the
Additional Temporary Premises, including, without limitation, the
amounts set forth in Section 4.c, 4.d, and 4.e of the Lease.
Nothing in this Third Amendment affects the payment of Basic
Rental or other sums due under the Lease for the Original
Premises or the Temporary Space, the payment of which is governed
by the terms of the Lease.
5. Tenant Improvements; As is. Tenant agrees to accept the
Additional Temporary Premises in its "as is" condition as of the
date of this Third Amendment without any representation or
warranty from Landlord with respect to its condition or its
suitability for any particular purpose. Landlord has no
obligation to construct any tenant improvements within the
Additional Temporary Premises, and any tenant improvements
constructed therein by Tenant will be subject to all terms and
provisions of the Lease, including, without limitation, the
provisions of Section 8 thereof.
6. Brokerage. Tenant warrants that it has had no dealings with
any broker or agent in connection with the negotiation or
execution of the Lease or this Third Amendment other than with
▇▇▇▇▇▇▇▇ Properties Limited, Inc., and both Landlord and Tenant
agree to indemnify each other and hold each other harmless from
and against any and all costs (including investigation and
defense costs) and expenses, claims for commissions or other
payments by any broker or agent who alleges to have performed
services on behalf of the indemnifying party.
7. Management Company. Tenant acknowledges that ▇▇▇▇▇▇▇▇
Properties Limited, Inc. is the Building's management and leasing
representative.
8. Authority. Each individual signing below represents that
he/she has been duly authorized to execute and deliver this Third
Amendment and that same shall be binding on Landlord and Tenant
(as applicable) on whose behalf he/she is signing.
9. Entire Agreement. This Third Amendment, together with the
provisions of the Lease, embody the entire agreement between the
parties with respect to the subject matter hereof and cannot be
varied except by written agreement of the parties.
10. Successors and Assigns. All of the terms, covenants,
provisions, and conditions of this Third Amendment are hereby
made binding on the executors, heirs, administrators, successors,
and permitted assigns of both parties hereto.
11. Headings. The captions used in connection with the sections
of this Third Amendment are for convenience only and shall not be
deemed to construe or limit the meaning of the language of this
Third Amendment.
12. Conflict. In the event of any conflict between the
provisions of this Third Amendment and the provisions of the
Lease, the provisions of this Third Amendment will govern and
control.
13. Lease. As amended hereby, the Lease will govern the
Additional Temporary Premises and will continue in full force and
effect and is ratified and confirmed by Landlord and Tenant.
From and after the date of this Third Amendment, the term
"Lease", when used in the Lease, will mean the Lease, as further
amended by this Third Amendment.
14. Counterparts. This Third Amendment may be executed in
multiple counterparts and signature pages from any counterpart
may be appended to any other counterpart. All counterparts shall
constitute a single, unified instrument.
Witness the Execution Hereof, effective as of the date first
set forth above.
AMRESCO, Inc., a Delaware corporation
By:
Title:
K-P Plaza Limited Partnership,
a Texas limited partnership
By: K-P Plaza Dallas, Inc.,
its general partner
By:
Title: