FIRST AMENDMENT TO OFFICE LEASE
This First Amendment to Office Lease ("Amendment") is
effective as of the _____ day of July, 1996, by and 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 have heretofore entered into
that certain Office Lease dated February 9, 1996 (the "Lease"),
covering certain premises (the "Premises") located on the entire
17th, 22nd, 23rd, 24th, and 25th floors and part of the 16th
floor of the North Tower in the Plaza of the Americas, ▇▇▇ ▇▇▇▇▇
▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇;
WHEREAS, pursuant to Section 2 of the Lease, Tenant has the
right to increase or decrease the rentable square footage of the
Premises by up to fifteen percent (15%) upon written notice to
Landlord contemporaneously with the delivery of Tenant's Working
Drawings;
WHEREAS, Tenant has exercised its right to increase the
Premises by 5,327 rentable square feet of space located on the
16th floor of the North Tower (bringing the total square rentable
footage of the Premises to 130,606); and
WHEREAS, Tenant and Landlord desire to enter into this
Amendment to evidence the increase in the square footage of the
Premises pursuant to Section 2 of the Lease, all upon the terms
and conditions contained in this Amendment;
NOW, THEREFORE, in consideration of the mutual covenants
herein contained and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged by both
Landlord and Tenant, the parties hereby agree as follows:
1. Definitions. All capitalized terms used herein and not
otherwise defined in this Amendment have the same meaning as in
the Lease.
2. Premises. The second sentence of Section 2 of the Lease is
deleted in its entirety and the following sentence is substituted
in lieu thereof:
Landlord and Tenant hereby stipulate and agree that:
(a) The rentable area of the Premises
(excluding the Storage Space) is 130,606
square feet, consisting of 23,965 square feet
on each of the 17th, 22nd, 23rd, 24th, and
25th floors of the North Tower and 10,781
square feet on the 16th floor of the North
Tower; and
(b) The rentable area of the Office Portion
is one million twenty-eight thousand
(1,028,000) square feet.
Additionally, the reference to the square footage of the
Premises contained in the definition of the term "Premises" in
the Basic Lease Information is increased from "125,279 rentable
square feet" to "130,606 rentable square feet."
3. Exhibit "A". Page A-1 of Exhibit "A" to the Lease is
deleted in its entirety and the Exhibit "A" Page A-1 attached to
this Amendment (showing the floor plan of the Premises with the
additional square footage added by this Amendment) is substituted
in lieu thereof.
4. Prepaid Rent. The amount of Prepaid Rent shown in the Basic
Lease Information is increased from $125,279.00 to $130,606.00.
At the time the Lease was executed, Tenant paid Landlord
$125,279.00 as Prepaid Rent pursuant to Section 4.a. of the
Lease. Contemporan-ously with the execution of this Amendment,
Tenant shall pay Landlord $5,327.00 -- such amount to be added to
the original Prepaid Rent increasing the total amount of the
Prepaid Rent to $130,606.00, all of which shall be applied to the
Basic Rental for November 1996.
5. Tenant's Proportionate Share. The definition of the term
"Tenant's Proportionate Share" in the Basic Lease Information is
deleted and the following definition of the term "Tenant's
Proportionate Share" is substituted in lieu thereof:
It is stipulated and agreed that for all purposes under
this Lease the Tenant's Proportionate Share is obtained
by dividing (i) the 130,606 rentable square feet in the
Premises (which includes a pro rata share of the Common
Areas) by (ii) the total rentable square feet in the
Office Portion.
6. Tenant Allowance. Landlord and Tenant acknowledge that the
Tenant Allowance under Exhibit "D" to the Lease equals $3,559,014
(based on the stipulated rentable area of the Premises being
130,606 square feet.)
7. Exhibit "E". Exhibit "E" to the Lease is deleted in its
entirety and the Exhibit "E" attached to this Amendment (showing
the Basic Rental applicable to the increased square footage of
the Premises) is substituted in lieu thereof.
8. Parking. Landlord and Tenant acknowledge that Tenant may
use 87 undesignated vehicular parking spaces in the Parking
Garage pursuant to Exhibit "G" to the Lease (based on the
stipulated rentable area of the Premises being 130,606 square
feet.)
9. Authority. Each individual signing below represents that
he/she has been duly authorized to execute and deliver this
Amendment and that same shall be binding on Landlord and Tenant
(as applicable) on whose behalf he/she is signing.
10. Entire Agreement. This Amendment embodies the entire
agreement between the parties with respect to the subject matter
hereof and cannot be varied except by the written agreement of
the parties.
11. Successors and Assigns. All of the terms, covenants,
provisions, and conditions of this Amendment are hereby made
binding on the executors, heirs, administrators, successors, and
permitted assigns of both parties hereto.
12. Interpretation. The parties hereto acknowledge that each
party and its counsel has reviewed this Amendment and that the
normal rule of construction to the effect that any ambiguities
are to be resolved against the drafting party will not be
employed in the interpretation of this Amendment.
13. Severability. If any provision of this Amendment is held to
be illegal, invalid, or unenforceable under present or future
laws, such provision(s) shall be fully severable, and this
Amendment, and the remaining provisions of this Amendment shall
remain in full force and effect and not be affected by the
illegal, invalid, or unenforceable provision(s) or by its
severance from this Amendment, provided that both parties may
still effectively realize the complete benefit of the
transaction.
14. Headings. The captions used in connection with the sections
of this Amendment are for convenience only and shall not be
deemed to construe or limit the meaning of the language of this
Amendment.
15. Lease. As amended hereby, the Lease shall continue in full
force and effect and is ratified and confirmed by Landlord and
Tenant. All of the terms and conditions of the Lease (including,
without limitation, the provisions relating to the payment of
Basic Rental and the Tenant Allowance and the use of parking
spaces in the Parking Garage) are applicable to the Premises, as
increased by this Amendment.
1. 16. Counterparts. This Amendment may be executed in
multiple counterparts and signature pages from any counterpart
may be appended to any other counterpart. All counterparts shall
construe a single, unified instrument.
EFFECTIVE as of the date first set forth above.
LANDLORD: TENANT:
K-P PLAZA LIMITED PARTNERSHIP, AMRESCO, INC.,
a Texas limited partnership a Delaware corporation
By: K-P Plaza Dallas, Inc.,
its general partner By:
Title:
By:
Title: