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Exhibit 10.20
STANDARD OFFICE LEASE AGREEMENT
This Lease between CHEYENNE INVESTMENTS L.L.C., a Nevada Limited Liability
Company, ("Landlord"), and MGC COMMUNICATIONS, INC., a Nevada Corporation,
("Tenant"), is dated March 25, 1999.
1. LEASE OF PREMISES.
In consideration of the Rent (as defined at Section 5.4) and the provisions of
this Lease, Landlord leases to Tenant and Tenant leases from Landlord the
Premises shown by diagonal lines on the floor plan attached hereto as Exhibit
"A", and further described at ▇▇▇▇▇▇▇ ▇▇. The Premises are located within the
Building and Project described in Section 2m. Tenant shall have the
nonconclusive right (unless otherwise provided herein) in common with Landlord,
other tenants, subtenants and invitees, to use of the Common Areas (as defined
at Section 2c).
2. DEFINITIONS.
As used in this Lease, the following terms shall have the following meanings:
a. Base Rent (initial): $478,175.00
_________________________________________ per year.
A(1) Common Area Expenses (initial): 68,508.00
______________________________ per year.
D. Base Year; The calendar year of 2000
______________________________________
c. Broker(s) ____________________________________________________________
Landlord's ___________________________________________________________
Tenant's _____________________________________________________________
d. Commencement Date: November 6, ▇▇▇▇
▇. ▇▇▇▇▇▇ ▇▇▇▇▇: the building lobbies, common corridors and hallways,
restrooms, garage and parking areas, stairways, elevators and other
generally understood public or common areas. Landlord shall have the
right to regulate or restrict the use of the Common Areas.
f. Expense Stop: see 7h
_______________________________________________________
g. Expiration Date: ?????? 31, 2004
____________________________________ unless otherwise
sooner terminated in accordance with the provisions of this Lease.
h. Index (Section 5.3); United States Department of Labor, Bureau of Labor
Statistics Consumer Price Index for All Urban Consumers, U.S. City
Average, "All Items" (1967-100).
i. Landlord's Mailing Address:
▇▇▇▇ ▇. ▇▇▇▇▇▇▇ ▇▇., ▇▇▇. ▇
▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Tenant's Mailing Address:
▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇
▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇
j. Monthly Installments of Base Rent (initial): $35,681.25
___________ per month.
j(i). Monthly installments of Common Area Maintenance Charge (initial)
$5,709.00
__________
k. Parking: Tenant shall be permitted to park N/A employees and visitors
cars on a non exclusive basis in the area(s) designated by Landlord for
parking. Tenant shall abide by any and all parking regulations and rules
established from time to time by Landlord's parking operator.
l. Premises: approximately 28,545 square feet of Rentable Area, shown by
diagonal lines on Exhibit "A," located in Building 9 and known as Suite
N/A.
m. Project: the building of which the Premises are a part (the "Building")
and any other buildings or improvements on the real property (the
"Property") located at ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ CORPORATE CENTRE and further
described at Exhibit "B."
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Initial
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n. Both parties expressly and explicitly agree that they have reviewed all of
the lease agreement including but not limited to attached addenda and
exhibits to their satisfaction prior to the execution of this lease
agreement. Both parties have had the opportunity have legal counsel review
this lease agreement and if either party chooses not to seek advice of
counsel then said decision will be made with knowing and willing consent.
1. Waiver. No delay or omission in the exercise of any right or remedy of
Landlord upon any default by Tenant shall impair such right or remedy or be
construed as a waiver of such default. The receipt and acceptance by Landlord of
delinquent Rent shall not constitute a waiver of any other default; it shall
constitute only a waiver of timely payment for the particular Rent payment
involved.
No act or conduct of Landlord, including, without limitation, the
acceptance of keys to the Premises, shall constitute an acceptance of the
surrender of the Premises by Tenant before the expiration of the Term. Only a
written notice from Landlord to Tenant shall constitute acceptance of the
surrender of the Premises and accomplish a termination of the lease.
Landlord's consent to or approval of any act by Tenant requiring
Landlord's consent for approval shall not be deemed to waive or render
unnecessary Landlord's consent to or approval of any subsequent act by Tenant.
Any waiver by Landlord of any default must be in writing and shall not be a
waiver of any other default concerning the same or any other provision of the
Lease.
The parties hereto have executed this Lease as of the dates set forth below.
Landlord:
CHEYENNE INVESTMENTS L.L.C.
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Mgr.
--------------------------------
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Manager
Date: 4/29/99
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By:
--------------------------------
Title:
------------------------------
Date:
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Tenant: MGC COMMUNICATIONS, INC., A Nevada Corporation
By: /s/ ???? ▇. ▇▇▇▇▇▇▇▇▇▇
---------------------------------
???? ▇. ▇▇▇▇▇▇▇▇▇▇
Title: President & CEO
Date: 4/29/99
-------------------------------
By:
---------------------------------
Title:
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Date: -------------------------------
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FIRST AMENDMENT TO LEASE
This First Amendment to Lease is attached to and made a part of that certain
Lease dated July 01, 1997 by and between Cheyenne Investments, LLC, a Nevada
Limited Liability Company, ("Landlord") and MGC Communications, Inc., a Nevada
Corporation ("Tenant").
The above mentioned Lease is amended as follows:
PREMISES
(1) The number Thirty Two Thousand, Four Hundred Fifty square feet (32,450) of
Rentable area is hereby submitted for the number Twenty Four Thousand, One
Hundred Twenty Five square feet (24,125) of Rentable area as found in
Paragraph 2,(l).
BASE MONTHLY RENT
(2) The sum Fifty Three Thousand Five Hundred Forty Two and 50/100 Dollars
($53,542.50) is hereby substituted for the sum Thirty Nine Thousand Eight
Hundred Six and 25/100 Dollars ($39,806.25) as found in ▇▇▇▇▇▇▇▇▇ ▇,(▇).
Save and except as amended hereby, said lease shall remain unmodified and in
full force and effect.
IN WITNESS WHEREOF, Landlord and Tenant have signed this First Amendment to
Lease this day of May, 1998.
LANDLORD: TENANT:
____________________________ _______________________________
Cheyenne Investments, LLC MGC Communications, Inc.
A Limited Liability Company A Nevada Corporation
By: ??????? ▇. ▇▇▇▇▇▇ By: N.J. ▇▇▇▇▇▇▇▇▇▇
____________________________ ___________________________
Title: Manager Title: President
_____________________ ________________________
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SECOND AMENDMENT TO LEASE
This Second Amendment to Lease is attached to and made part of that certain
Lease dated July 1, 1997 by and between Cheyenne Investments, LLC, a Nevada
Limited Liability Company, ("Landlord") and MGC Communications, Inc., a Nevada
Corporation ("Tenant").
The above mentioned Lease is amended as follows:
ADDITIONAL RENTABLE AREA
1) Approximately Three Thousand Three Hundred Thirteen (3,313) square
feet of Rentable Area, located in building B, Suite 7, at ▇▇▇▇ ▇.
▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇.
2) The Base Monthly Rent for the additional square footage is Five
Thousand Six Hundred Three and 11/100 Dollars ($5,603.11).
IN WITNESS WHEREOF, Landlord and Tenant have signed this Second Amendment to
Lease this 29th day of December, 1998.
LANDLORD: TENANT:
Cheyenne Investments, LLC MGC Communications, Inc.
A Limited Liability Company A Nevada Corporation
By: /s/ By: /s/
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Title: Title: President & CEO
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