EXHIBIT 10.7
STANDARD LEASE
BETWEEN
BLUE LAKE, LTD.
AND
CYBEAR, INC., A FLORIDA CORPORATION
DATED AUGUST __,1998
INDEX TO
BLUE LAKE CORPORATE CENTER
STANDARD LEASE
PAGE NO.
--------
1. PREMISES; BUILDING; AND COMMON AREAS....................................1
2. LEASE TERM; LEASE DATE..................................................2
3. RENT....................................................................3
4. SECURITY DEPOSIT........................................................6
5. USE.....................................................................6
6. ACCEPTANCE OF PREMISES; LANDLORD'S WORK.................................6
7. PARKING.................................................................7
8. BUILDING SERVICES......................................................7
9. SECURITY................................................................9
10. REPAIRS, MAINTENANCE AND UTILITIES......................................9
11. TENANT'S ALTERATIONS...................................................10
12. LANDLORD'S ADDITIONS AND ALTERATIONS...................................11
13. ASSIGNMENT AND SUBLETTING..............................................11
14. TENANT'S INSURANCE COVERAGE..........................................13
15. LANDLORD'S INSURANCE COVERAGE..........................................14
16. WAIVER OF RIGHT OF RECOVERY............................................14
17. DAMAGE OR DESTRUCTION BY CASUALTY......................................14
18. CONDEMNATION AND EMINENT DOMAIN........................................15
19. LIMITATION OF LANDLORD'S LIABILITY; INDEMNIFICATION....................15
20. RELOCATION OF TENANT...................................................16
21. COMPLIANCE WITH LAWS AND PROCEDURES....................................16
22. RIGHT OF ENTRY.........................................................17
23. DEFAULT................................................................17
24. LANDLORD'S REMEDIES FOR TENANT'S DEFAULT...............................18
25. LANDLORD'S RIGHT TO PERFORM FOR TENANT'S ACCOUNT.......................19
26. LIENS..................................................................20
27. NOTICES................................................................20
28. MORTGAGE ESTOPPEL CERTIFICATE; SUBORDINATION...........................20
29. ATTORNMENT AND MORTGAGEE'S REQUEST.....................................21
30. TRANSFER BY LANDLORD...................................................22
31. SURRENDER OF PREMISES; HOLDING OVER....................................22
32. NO WAIVER, CUMULATIVE REMEDIES.........................................22
33. WAIVER.................................................................22
34. CONSENTS AND APPROVALS.................................................23
35. RULES AND REGULATIONS..................................................23
36. SUCCESSORS AND ASSIGNS.................................................23
37. QUIET ENJOYMENT........................................................23
38. ENTIRE AGREEMENT.......................................................23
39. HAZARDOUS MATERIALS....................................................23
40. BANKRUPTCY PROVISIONS..................................................25
41. FIRE PREVENTION SYSTEMS................................................26
42. SPECIAL EVENTS.........................................................27
43. MISCELLANEOUS..........................................................27
44. DELIVERY OF GUARANTY...................................................29
45. CONFIDENTIALITY........................................................29
46. SIGNAGE CRITERIA.......................................................29
47. CARPOOLING, MASS TRANSIT AND TRAFFIC CONTROL...........................29
48. LEASE CONTINGENCIES....................................................29
49. ASSOCIATION............................................................29
50. VENDING MACHINES.......................................................30
51. FOOD SERVICE...........................................................30
52. AUDITORIUM/CONFERENCE CENTER ..........................................30
53. TELECOMMUNICATIONS.....................................................30
54. INCENTIVE PROGRAMS.....................................................31
55. SAVING PROVISION.......................................................31
56. SATELLITE DISH.........................................................31
BASIC LEASE INFORMATION RIDER
BLUE LAKE CORPORATE CENTER
STANDARD LEASE
PREAMBLE Date of Lease: August ___ 1998 ("Lease Commencement Date")
PREAMBLE Landlord: BLUE LAKE, LTD., a Florida limited partnership.
PREAMBLE Tenant: CYBEAR, INC. a Florida corporation, authorized to do
business in the State of Florida
SECTION 1 Premises: A portion of the second floor of ▇▇▇▇ ▇▇▇▇ ▇▇▇▇
▇▇▇▇▇, as shown on Exhibit "A" of Blue Lake Corporate Center,
Boca Raton, Florida, being hereby designated as: Suite 200. The
office building campus (as shown on Exhibit "F") including
parking spaces, driveways, walkways, drainage systems, utility
systems, greenspace areas and other elements of the "Blue Lake
Corporate Center" are hereinafter collectively referred to as the
"Building."
SECTION 1 Net Rentable Area of Premises: [18,400] square feet which is
stipulated and agreed by the parties (based on [16,000] square
feet of usable area and a fifteen (15%) add-on factor); provided,
however, that within ten (10) days after substantial completion
of the Improvements to the Premises, either Landlord or Tenant
shall be entitled to have the Premises measured in accordance
with BOMA Standards (ANSI Z65.1-1996). Following such
measurement, if it is determined that in fact the Premises
contain more or less than the Rentable Area set forth above, Base
Rent, Tenant's Share, and any other provision which is based on
the amount of square footage leased by Tenant shall be ratably
modified. The Rentable Area of the Premises includes restrooms,
electrical and mechanical rooms over which the Tenant is herein
granted exclusive control and dominion which are themselves
deemed part of the Premises, except that Landlord shall maintain
such restrooms, electrical and mechanical rooms which are shared
among tenants.
SECTION 2 Rent Commencement Date: The earlier to occur of (i) the
"Completion Date" as defined in the Work Letter, notwithstanding
that any Tenant finish work, special fixtures or equipment or
decorative treatment has not been performed by Tenant or (ii) the
date that Tenant first uses the Premises or any portion thereof
for any purpose permitted under this Lease, but in no event shall
the Rent Commencement Date occur later than January 1, 1999.
SECTION 2 Tenant Access for Improvements Prior to Commencement Date: Upon
the execution of this Lease and all addenda hereto, and the
delivery by Tenant to Landlord of the appropriate insurance
certificates reflecting Tenant's securing of all insurance
required by Tenant hereunder and following the recordation of a
Notice of Commencement prepared and recorded in accordance
Florida Statute 713.10 and Landlord's reasonable approval of
Tenant's construction contract for the purpose of confirming the
inclusion of a lien prohibition provision in accordance with
Section 26 of this Lease, Tenant and Tenant's contractor and
sub-contractors shall be provided reasonable access to the
Premises at all reasonable times in order to make improvements to
the Premises. All work will be defined in the Work Letter
attached hereto as Exhibit "B".
SECTION 2 Expiration Date: Five (5) years after Rent Commencement Date.
SECTION 2 Lease Term: From the Rent Commencement Date plus Five (5) years
after the Rent Commencement Date, unless sooner terminated
pursuant to any provision hereof; provided, however, that if the
Rent Commencement Date is a date other than the first day of a
calendar month, said Term shall extend for said number of days at
said in addition to the remainder of the calender month following
the Rent Commencement Date.
▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇ ▇▇▇▇(▇): One Renewal Term of Five (5) years; at Market
Rate Rent.
SECTION 3 Base Rent: Tenant agrees to pay to Landlord as Rent for the
Premises, in advance without demand, deduction or set off (except
as otherwise may be specifically provided in the Lease), from and
after the Rent Commencement Date and throughout the term, the
Annual Base Rent in the amounts as indicated in the following
Schedule of Base Rent in equal monthly installments, plus
applicable sales tax.
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BLUE LAKE STANDARD LEASE
SCHEDULE OF BASE RENT
--------------------------------------------------------------------------------
PERIOD PER SQUARE FOOT ANNUAL BASE RENT MONTHLY BASE RENT
------ --------------- ---------------- -----------------
Months 1-12: $12.50 $230,000 $19,167.17
Months 13-24: $12.88 $236,992 $19,749.33
Months 25-36: $13.27 $244,168 $20,347.33
Months 37-48: $13.67 $251,528 $20,960.67
Months 49-60: $14.08 $259,072 $21,589.33
--------------------------------------------------------------------------------
Each monthly installment in accordance with the above Schedule shall be due and
payable on or before the first day of each calendar month succeeding the Rent
Commencement Date, except that the rental payment for any fractional calendar
month commencing on the Rent Commencement Date of the Lease shall be prorated.
SECTION 3: Base Year for Overhead Rent: Calendar year 1999.
Estimated per square foot Overhead Rent in Base Year $4.50
SECTION 3 Cap on "Controllable Operating Expenses" (as defined): eight
(8.0%) percent applied non- cumulatively.
SECTION 3 Tenant's Share: 1.039%. Landlord and Tenant acknowledge that
Tenant's Share has been obtained by taking the Net Rentable Area
of the Premises and dividing such number by [1,770,600] square
feet, being the rentable area contained in the Building as
determined by Landlord, and multiplying such quotient by 100. In
the event Tenant's Share is changed during a calendar year by
reason of a change in the Net Rentable Area of the Premises,
Tenant's Share shall thereafter mean the result obtained by
dividing the new Net Rentable Area of the Premises by [1,770,600]
and multiplying such quotient by 100.
SECTION 4 Security Deposit Received: $ N/A
Date Received: ___________________________
Prepaid First Month's Rent $ N/A (including Florida sales tax)
Date Received: __________________________
Prepared First Month's Overhead Rent: $ N/A (including Florida
sales tax)
Date Received: ___________________________ ______
Prepaid Last Month's Rent $ N/A (including Florida sales tax)
Date Received: _______________________
Prepaid Last Month's Overhead Rent: $ N/A (including Florida
sales tax)
Date Received: _______________________________
Deposit for Energy Management: $ N/A
Date Received: _________________________________
Deposit for Electric Utilities: $ N/A
Date Received: ________________________________
Guarantor: Andrx Corporation, a Florida corporation
▇▇▇▇ ▇. ▇. ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇
▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇
Attention: ▇▇▇▇▇ ▇▇▇▇▇, Esq.
SECTION 5 Use of Premises: Corporate offices, including software
development, internet related sales and service (but not retail
sales), and the supporting use of conference and computer
facilities, employee breakroom and related non-commercial
facilities for employee use only.
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BLUE LAKE STANDARD LEASE
Tenant's Address for Notices Prior to Commencement Date:
Cybear, Inc.
c/o Andrx Corporation
▇▇▇ ▇. ▇. ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇
▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇
Attention: ▇▇▇▇▇ ▇▇▇▇▇, Esq.
Tenant's Address for Notices After Commencement Date:
Tenant
The Premises; Attention: ▇▇. ▇▇▇▇ ▇▇▇▇▇▇▇
with a copy to Tenant's pre-Commencement Date Address
Landlord's Address for Notices:
Blue Lake, Ltd.
▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇
▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇
Attention: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, Executive Vice President
With copies of default notices only to:
Sachs, Sax & ▇▇▇▇▇, P.A.
Suite 4150
▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇
▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇
Atttention: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, Esq.
SECTION 8 Standby Electrical Generator System Subscription Fee:
$500,000.00; pursuant to Rider attached hereto as Exhibit "G"
SECTION 15 Amount of General Comprehensive Liability Insurance:
$1,000,000.00 per occurrence - $3,000,000.00 in the aggregate.
WORK LETTER:
PARAGRAPH 3G. Landlord's Contribution: $ 15.00 per usable square foot
PARAGRAPH 6. Tenant's Construction Agent:
__________________________
Tenant may, from time to time, identify a substituted Tenant's
Construction Agent from a list of persons pre-approved by
Landlord to act as a Tenant's Construction Agent for the
Building, or such other person as requested by Tenant having
experience in construction of the type and nature of the
undertaking pursuant to the Work Letter, and who shall be
reasonably acceptable to Landlord.
Certain of the information relating to the Lease, including many
of the principal economic terms, are set forth in the foregoing Basic Lease
Information Rider (the "BLI Rider"). The BLI Rider and the Lease are, by this
reference, hereby incorporated into one another. In the event of any direct
conflict between the terms of the BLI Rider and the terms of the Lease, the BLI
Rider shall control. Where the Lease simply supplements the BLI Rider and does
not conflict directly therewith, the Lease shall control.
IN WITNESS WHEREOF, Landlord and Tenant have signed this BLI
Rider as of this ____ day of August, 1998 .
WITNESSES: "TENANT"
CYBEAR, INC., a Florida corporation
--------------------------------------
--------------------------------------
(As to Tenant) By:________________________________
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BLUE LAKE STANDARD LEASE
Name:___________________________________
Title:__________________________________
(SEAL)
WITNESSES: "LANDLORD"
_______________________________ BLUE LAKE, LTD., a Florida limited partnership
_______________________________ By: Blue Lake, Inc., a Florida corporation, its
(As to Landlord ) general partner
By:_____________________________________
Authorized Agent
BLUE LAKE CORPORATE CENTER
STANDARD LEASE
THIS LEASE ("Lease") is made as of the _____ day of August, 1998, by and
between BLUE LAKE, LTD., a Florida limited partnership ("Landlord") and CYBEAR,
INC., a Florida corporation, authorized to do business in the State of Florida
("Tenant").
W I T N E S S E T H:
1. PREMISES; BUILDING; AND COMMON AREAS.
A. PREMISES; BUILDING; AND COMMON AREAS. Landlord leases to
Tenant and Tenant leases from Landlord the Premises described in the Basic Lease
Information Rider (the "BLI Rider") attached to the front of this Lease and
incorporated into this Lease by this reference, and as more particularly
outlined on the floor plan attached hereto as Exhibit "A" and by this reference
incorporated herein ("Premises"). The parties hereby agree that the Premises
contain the number of Net Rentable Area set forth in the BLI Rider. The Premises
constitute a portion of the office building campus, including parking spaces,
driveways, walkways, drainage systems, utility systems, greenspace areas, and
other elements of the Blue Lake Corporate Center (collectively the "Building").
In addition to the Premises, Tenant has the right to use, in common with others,
the lobby, public entrances, public stairways, public areas and public elevators
of the Building (the "Common Areas"). The Common Areas serving the Building will
at all times be subject to Landlord's exclusive control and management in
accordance with the terms and provisions of this Lease. In addition, the Tenant
shall be entitled to use during the term of this Lease, up to four thousand
square feet of raised flooring located in the Building and identified by
Landlord as available for the Premises. Such raised flooring shall be accepted
by the Tenant in its "as is, where is, with all faults" condition and Tenant
shall be solely responsible for removing the flooring from its current location
and installing such in the Premises. Tenant shall return the flooring to the
Landlord at the expiration or earlier termination of this Lease, in its current
condition, reasonable wear and tear excepted.
B. RIGHT OF FIRST REFUSAL. Provided that no default beyond any
applicable notice and cure periods shall have occurred under this Lease, the
Landlord grants to the Tenant a right of first refusal, exercisable from the
date hereof and continuing through one (1) year prior to the expiration of the
term of this Lease, unless Tenant, prior to such one (1) year, elects to renew
the term hereof as provided in Paragraph 2B hereof, inclusive, to lease the
Expansion Premises as described on Exhibit "A-1" attached hereto and made a part
hereof upon the terms herein provided (the "Right of First Refusal Term"). If
during the Right of First Refusal Term the Landlord shall receive a BONA-FIDE
third-party offer to lease all or a portion of the Expansion Premises ("Third
Party Offer"), then Landlord shall advise Tenant, in writing, of Landlord's
intention to accept such Third Party Offer and shall furnish to Tenant all of
the basic terms and conditions of such Third Party Offer (the "Landlord's
Notice"). Tenant shall thereafter have the option, within ten (10) days
following Tenant's receipt of Landlord's Notice, to exercise its Right of First
Refusal to lease not less than all of the entire Expansion Premises
(notwithstanding a Third Party Offer for the lease of less than all of the
Expansion Premises) by giving notice of its election to exercise its Right of
First Refusal in writing to Landlord (the "Tenant's Acceptance"). If Tenant
timely exercises the right of first refusal, Landlord and Tenant shall, within
five (5) business days thereafter, enter into an amendment to this Lease
affirming the covenants and conditions contained in this Lease, except that the
amendment, with respect to the Expansion Premises shall contain the applicable
business terms and conditions as contained in the Third Party Offer. If Tenant
waives or fails to exercise its right of first refusal, the Landlord may then
lease all or such portion of the Expansion Premises to any other party,
including the third party offerer on the same terms and conditions set forth in
the Landlord's notice and the Right of First Refusal shall thereafter be
terminated on a self-
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BLUE LAKE STANDARD LEASE
effectuating basis and be of no further force or effect until the third party
lease expires (after all elected renewal terms thereof) Notwithstanding the
immediately preceding sentence, Landlord may, additionally, request the Tenant
to execute a written certification of the lapse and termination of the Right of
First Refusal as herein contained.
C. NO RESERVATION. Nothing herein shall constitute a reservation
or other rights in or to the Expansion Premises or shall impose an obligation on
the Landlord to abstain from marketing the Expansion Premises for lease to third
parties, subject to this right of first refusal.
2. LEASE TERM; LEASE DATE
A. GENERAL. The lease term ("Lease Term") is for the period of
time set forth in the BLI Rider, commencing on the Lease Commencement Date set
forth in the BLI Rider ("Commencement Date") and ending on the Lease expiration
date set forth in the BLI Rider ("Expiration Date"). Tenant's obligation to pay
all rent, including Base Rent, Overhead Rent and Additional Rent, (collectively,
"Rent"), as such terms are hereafter defined, will commence on the Rent
Commencement Date. Tenant shall observe and perform all of its obligations under
this Lease (except its obligations to conduct business), from the earlier to
occur of the date that the Premises are delivered to Tenant for the purpose of
commencement of the Tenant's improvements to the Premises or the date Tenant
otherwise takes possession of the Premises (until the Commencement Date) in the
same manner as though the Lease Term began when the Premises were so delivered
to Tenant. Except as specifically provided in the BLI Rider, under no
circumstances, however, may Tenant enter into possession of the Premises prior
to the earlier to occur of the date that the Premises are delivered to Tenant
for the purpose of commencement of Tenant's improvements to the Premises or the
Commencement Date without the express written consent of Landlord and subject to
any reasonable terms of the consent. Tenant shall not be required to pay Rent
(as such term is hereinafter defined) for any period prior to the Rent
Commencement Date or as otherwise stated in the BLI. However, Tenant shall pay
for all utilities and services consumed by or on behalf of Tenant prior to the
Rent Commencement Date for construction, fixturing and move-in. Upon Landlord's
request, Tenant shall execute a "Rent Commencement/Expiration Certification
Rider" in the form attached hereto and made a part hereof as Exhibit "I".
B. RENEWAL OPTION. Landlord grants to Tenant an option (the
"Option") to extend the term of this Lease for one (1) additional period of five
(5) years (the "Renewal Term") under the terms set forth below. Tenant shall not
be entitled to exercise the Option unless each of the following conditions shall
be fully satisfied at the time of its exercise: (i) the Lease shall be in full
force and effect; (ii) the Tenant originally named in this Lease, or its
permitted assignees, shall be in possession of the entire Premises; and (iii)
Tenant shall not then be in default under any of the material terms, provisions,
covenants or conditions of the Lease beyond any applicable notice and cure
periods. In order to exercise the Option, Tenant must first give written request
to Landlord, not less than twelve (12) months prior to the Expiration Date of
the Initial Lease Term for delivery of Landlord's determination of Market Rent,
as defined below. Base Rent for each Renewal Term shall be equal to the Market
Rent, as determined in accordance with this section ("Market Rent"). Within
thirty (30) days following its receipt of Tenant's request, Landlord shall
advise Tenant of Market Rent for each year of the respective Renewal Term.
Market Rent (including escalations for successive years of the Renewal Term)
shall be determined by Landlord in its reasonable judgment. Landlord's
determination of the Market Rent shall be based, as Landlord reasonably deems
appropriate, upon then current and projected rents for space in the Building,
adjusted for any special conditions applicable to such space and leases, for
location, length of term, amount of space and other factors Landlord deems
relevant in computing rents for space in the Building, including adjustments for
anticipated inflation. Tenant may exercise its option by notifying Landlord,
within 30 days from the date on which Tenant was first advised by Landlord of
its determination of Market Rent, that Tenant has elected to exercise the Option
at the Market Rent determined by Landlord or proceed as provided below. If
Tenant exercises the Option as provided, the Expiration Date of the Lease shall
be extended for the length of the Renewal Term and Base Rent shall be adjusted
to Market Rent. If Tenant shall fail to timely exercise the Option as provided,
Tenant shall be deemed to have waived its right to exercise the Option and to
occupy the Premises beyond the initial Term of the Lease or beyond any
previously exercised Renewal Term of this Lease. The Base Year for the Renewal
Term shall be the first Lease year of the Renewal Term. Upon a determination of
Base Rent for the First Lease Year of the Renewal Term, Landlord and Tenant
shall agree on a Base Rent schedule, in the same format set forth in the BLI
Rider for the Initial Lease Term, for the balance of the Renewal Term, based
upon the hereinabove prescribed formula. Landlord's determination shall be
based, as Landlord reasonably deems appropriate, upon then current and projected
rents for space in the Building, adjusted for any special conditions applicable
to such space and leases, for location, length of term, amount of space and
other factors Landlord deems relevant in computing rents for space in the
Building, including adjustments for anticipated inflation. Any agreement of
Landlord and Tenant regarding the amount of Market Rent shall be in writing
signed by them within thirty (30) days after the date Tenant was first advised
by Landlord of its initial determination of Market Rent, in which event Tenant
shall be deemed to have exercised the Option. If Landlord and Tenant are unable
to agree upon Market Rent in writing within such thirty (30) day period, Tenant
may nevertheless exercise its option
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BLUE LAKE STANDARD LEASE
by notifying Landlord, within 30 days from the date on which Tenant was first
advised by Landlord of its initial determination of Market Rent, that Tenant has
elected to exercise the Option at the Market Rent determined by Landlord subject
to a reservation of Tenant's right to arbitrate Landlord's determination of
Market Rent in accordance with this Section. If Tenant exercises the Option as
provided, the termination date of the Lease shall be extended for a period of
five (5) years and Base Rent shall be adjusted to Market Rent. If Tenant shall
fail to timely exercise the Option as provided, Tenant shall be deemed to have
waived its right to exercise the Option and to occupy the Premises beyond the
initial term of the Lease. If the parties cannot agree in writing on Market Rent
and Tenant timely exercises the Option, then within thirty (30) days after
Tenant's exercise of the Option, Tenant and Landlord shall each select a
licensed real estate appraiser with at least ten (10) years substantial
commercial leasing expertise particularly in the this area of Palm Beach County,
Florida and notify the other party of such selection, and the selected
appraisers shall in turn select a similar third appraiser who will determine
Market Rent. If the appraisers are unable to agree on a third appraiser within
sixty (60) days after Tenant's exercise of the Option, Market Rent shall be
determined by suit for declaratory relief. The cost of the third appraiser and
any court costs shall be shared equally by the parties. If either party fails to
timely select a appraiser and notify the other party of such selection, the
other party's timely selected appraiser shall unilaterally determine Market
Rent. If Tenant elects to exercise the Option subject to its reservation to
contest Market Rent, Tenant shall nonetheless on the commencement of the Renewal
Term begin paying Base Rent at the Market Rate determined by Landlord. If Market
Rent is ultimately determined to be other than the amount initially determined
by Landlord, the next due payment or payments of Rent shall be appropriately
adjusted to reflect such overpayment or underpayment retroactive to commencement
of the Renewal Term.]
3. RENT
A. BASE RENT. Beginning on the Rent Commencement Date, and
continuing during the Lease Term, Tenant will pay to Landlord in lawful United
States Currency as the base rent for the Premises ("Base Rent") the amounts set
forth in the BLI Rider, with same being payable without demand, setoff or
deduction except as otherwise specifically provided in this Lease, in advance,
on or before the first day of each month, in equal monthly installments of the
amounts set forth in the BLI Rider, plus applicable sales and other such taxes
as are now or later enacted. All payments of Base Rent, Overhead Rent, (and
Security Deposits if subsequently applicable during the Lease Term), and any
other sums due from Tenant under this Lease shall be made by wire transfer to
such account as may be designated (or re-designated from time to time) by
Landlord's written notice. Such Rent shall be immediately payable to Landlord
upon written demand and any failure to so pay, subject to the grace provisions
set forth in Section 3, shall constitute an Event of Default.
B. OVERHEAD RENT Beginning on the Rent Commencement Date, Tenant
shall pay Tenant's Share, as defined in the BLI Rider, of (i) the total amount
of the annual Operating Expenses (as hereafter defined) and (ii) the total
amount of Taxes (as hereafter defined). As used herein, "Overhead Rent" means
the total of Tenant's allocated Share of Operating Expenses and Taxes.
B.1. "CAP" ON CONTROLLABLE OPERATING EXPENSES.
Notwithstanding the foregoing, in no event shall the Tenant's share of the
Controllable Operating Expenses be increased by more than eight (8%) percent, on
a non-cumulative basis, from that charged to the Tenant, as part of Overhead
Rent, for the immediately preceding calendar year. Increases in Operating
Expenses that are not deemed "controllable" as defined hereunder shall not be
limited by the foregoing sentence. Controllable Operating Expenses do not
include (i) Taxes, (ii) utility charges and fees (including, but not limited to,
water, sewer, electrical, telephone, chilled water and ventilation and
air-conditioning charges, cable communications and the like), (iii) premiums for
any increases in insurance contracted for by Landlord to the extent that any
such increases shall be a commercially reasonable judgment by Landlord, and in
conformance with responsible management customary for a Building of the size,
nature and character of the Building; (iv) minimum wage changes, and (v) costs
resulting from changes in law, to the extent however that any such cost is
incurred as to an item which is otherwise chargeable as an Operating Expense and
is not otherwise an exclusion from Operating Expenses.
B.2. ESTIMATES OF OVERHEAD RENT. Prior to each subsequent
calendar year, beginning with the calendar year immediately following the Base
Year, Landlord shall, in advance, reasonably estimate for each such calendar
year the total amount of the Overhead Rent. One-twelfth (1/12) of the estimated
Overhead Rent shall be payable monthly, along with the monthly payment of the
Base Rent.
B.3. RECONCILIATION STATEMENT. It is estimated that on or
before March 31 following a calendar year for which Overhead Rent is payable
hereunder, Landlord shall provide Tenant with a reconciliation statement showing
the amount of the actual components of Overhead Rent for the immediately
previous calendar year only. Notwithstanding the provisions of the immediately
preceding sentence, should Landlord fail to provide Tenant with a reconciliation
statement by June 30 for the immediately preceding calendar year, Tenant shall
have no further liability for any additional payment to Landlord that would
otherwise be reflected and required in the said reconciliation statement for the
preceding year. If the reconciliation statement reflects an underpayment in
either
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BLUE LAKE STANDARD LEASE
component of Overhead Rent, Landlord shall also deliver to Tenant an invoice
which Tenant shall pay within thirty (30) days following receipt of such
invoice. If the reconciliation statement reflects an overpayment in either
component of Overhead Rent, Tenant shall be entitled to either, at Landlord's
option, to a credit against the next month's payment of Rent together with a
refund check from Landlord for the balance of such overpayment or a refund check
from the Landlord for the entire amount of such overpayment If the Lease has
expired, the overpayment shall be refunded. In no event shall the Base Rent
under this Lease be reduced by virtue of this Section. As used in this paragraph
3., the following terms shall have the following meanings:
(1) The term "Operating Expenses" shall mean (i) any and
all reasonable costs of ownership, management, operation, repair and maintenance
of the Building, including, without limitation, wages, salaries, professionals'
fees, taxes, insurance, benefits and other payroll burdens of all employees,
Building Management fee, Common Area janitorial, maintenance, guard and other
services, building management office rent or rental value, power, fuel, water,
waste disposal, chilled water and hearing, ventilating and air conditioning
charges, stand-by electric generator system maintenance, upkeep, monitoring and
refueling charges, landscaping care, lighting, garbage removal, window cleaning,
system maintenance, parking area care, fees and assessments paid to or on behalf
of the "Association" (as later defined herein), and any and all other utilities
not separately metered for the Premises or a portion thereof, materials,
supplies, maintenance, repairs, insurance applicable to the Building and
Landlord's personal property and depreciation on personal property, and (ii) the
cost (amortized over such reasonable period as Landlord shall determine together
with interest at the rate of twelve percent (12%) per annum on the unamortized
balance) of any capital improvements made to the Building by Landlord after the
date of this Lease that reduce in a commercially reasonable manner Operating
Expenses or made to the Building by Landlord after the date of this Lease that
are required under any governmental law or regulation; provided, however, that
Operating Expenses shall not include real property taxes, depreciation on the
Building, costs of tenants' improvements, marketing or advertising costs for the
rental or sale of the Building, costs of electricity or other utilities
separately metered for other tenant's spaces, executive or managerial salaries
or benefits above the level of management, consulting fees not related to
operation, management or repairs, market study fees, capital repairs or
replacements (except as provided above), real estate broker's commissions, costs
of repairs covered and paid by insurance (subject to deductibles paid by
Landlord), fines or penalties for Landlord's failure to pay taxes and
assessments before such became delinquent, or any other obligation on time,
points, fees and interest charges, principal payments or any other payments of
any kind related to Landlord's financing or refinancing of the Building as a
whole, transaction costs directly incurred in a sale or transfer of the
Building, expenses resulting from defective construction work performed by
Landlord, the initial acquisition and installation costs of the stand-by
electrical generator and related systems, interest and capital items other than
those referred to in subsection (ii) above. Landlord shall maintain accounting
books and records in accordance with sound accounting principles. Landlord
hereby agrees to deduct each calendar year from the amount of the Operating
Expenses the total amount of any and all sums, amounts or charges paid by Tenant
or other tenants of the Building directly to Landlord or its agent for specific
tenant requested services or specific utility charges, if applicable.
Notwithstanding anything to the contrary in the definition of
"Operating Expenses", Operating Expenses shall, also, not include any of the
following:
(a) Legal fees, accounting fees or other expenses related to the
defense of Landlord's title to or interest in the Premises or the Building.
(b) Payment of debt service on loans secured by a mortgage or
lien encumbering the Building or any portion or interest of or in the Building.
(c) All costs and expenses which have been paid by Landlord and
reimbursed directly to Landlord by third-parties, including other tenants in the
Building, rather than through Operating Expenses.
(d) Legal fees and disbursements incurred for negotiation of
leases or enforcement of leases.
(e) Rent and additional rent payable under a ground lease or any
other superior lease encumbering the Building.
(f) Costs for which Landlord is compensated by insurance proceeds
or for which Landlord would have been compensated by insurance proceeds had
Landlord carried the insurance required by this Lease.
(g) Any fee or expenditure paid to an entity related to Landlord
materially in excess of the amount which would be paid in an arms length
transaction for materials or services of comparable quality (but only to the
extent of such excess).
(h) All costs and expenses, including fines, penalties and legal
fees) incurred due to a violation caused by Landlord in connection with any new
improvements constructed by Landlord within or as part of the Building.
(i) Salaries or fringe benefits of full-time personnel of
Landlord for any time periods performing for properties other than the Building.
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BLUE LAKE STANDARD LEASE
(j) Any bad debt loss, rent loss, or reserves for bad debts or
rent loss.
(k) Costs incurred by Landlord for repairs or replacements to the
extent that Landlord is actually reimbursed under warranties or guaranties.
(l) Any compensation paid to clerks, attendants, or other persons
in any potential commercial parking garage constructed to support the Building
for which separate parking fees or charges will be made to tenants.
(m) The cost of installing and maintaining any specialty
facility, such as a dining facility, athletic or recreational club, or luncheon
club if such facility is exclusive to any single tenant of the Building.
(n) Costs for sculptures, paintings, and other objects of art
located within or outside of the Building, other than the cost of maintaining
such sculptures, paintings and objects.
(2) The term "Taxes" shall mean the amount actually
incurred by Landlord (exclusive of any penalties, interest or late fees) of all
impositions, taxes, assessments (special or otherwise), water and sewer
assessments and other governmental liens or charges of any and every kind,
nature and sort whatsoever, ordinary and extraordinary, foreseen and unforeseen,
and substitutes therefor, including all taxes whatsoever (except for taxes for
the following categories which shall be excluded from the definition of Taxes:
any inheritance, estate, succession, transfer or gift taxes imposed upon
Landlord or any income taxes specifically payable by Landlord as a separate
tax-paying entity without regard to Landlord's income source as arising from or
out of the Building and/or the land on which it is located) attributable in any
manner to the Building, the land on which the Building is located and the
approximately 350 acre portion of the property surrounding the building, shown
on Exhibit "F" hereto (but excluding the assessed value of any new building(s)
and the land allocated to such new building(s) constructed on such campus), or
the rents (however the term may be defined) receivable therefrom, or any part
thereof, or any use thereon, or any facility located therein or used in
conjunction therewith or any charge or other amount required to be paid to any
governmental authority. For purposes hereof, until such time as a separate tax
folio is established for the Building and the approximate 350 acre campus, the
taxes on the Building and other improvements shall be determined from the
assessment line-item therefor and the taxes on the approximate 350 acres campus
shall be determined by comparison to the assessment for unimproved land located
in the Arvida Park of Commerce located in Boca Raton, Florida. The term "Taxes"
does not include income, excess profits, estate inheritance, succession,
transfer of capital tax assessments on Landlord or on Rent.
Tenant hereby agrees that the Overhead Rent from time to time computed
by Landlord shall be final and binding for all purposes of this Lease unless,
within ninety (90) days after Landlord provides Tenant with written notice of
the amount thereof, Tenant provides Landlord with written notice (i) disputing
the mathematical accuracy of such amount or whether such is a proper Operating
Expense under this Lease (the "Disputed Amount"), and (ii) designating an
attorney or accountant, reasonably acceptable to Landlord, and appointed by
Tenant, at its sole cost and expense, to review the mathematical accuracy of the
Disputed Amount, or whether such is a proper Operating Expense under this Lease
with Landlord and/or its designated representatives Tenant shall within thirty
(30) days of invoice, pay all of Landlord's reasonable costs and expenses in
connection with such review, including reasonable attorneys' fees and
accountants' fees, unless as a result thereof the Disputed Amount is
demonstrated to reflect a mathematical error in excess of three and one-half
percent (3.5%) of the amount actually due from Tenant. If such error is in
excess of three and one-half percent (3.5%), Landlord shall pay, within thirty
(30) days of invoice, Tenant's reasonable costs and expenses in connection with
such review, including reasonable attorneys' fees and accounting fees. Landlord
hereby agrees, in the event it receives such notice from Tenant, to cooperate in
promptly completing such review and promptly refunding any portion of the
Disputed Amount which exceeds the amount actually due from Tenant. Such an audit
shall be at Tenant's expense, at any time within ninety (90) days after
Landlord's annual statement is delivered to Tenant for such calendar year,
provided, that Tenant shall give Landlord not less than fifteen (15) days prior
written notice of any such audit and sign a confidential non-disclosure
agreement prior to the audit reasonably acceptable to Tenant and subject to any
qualifications expressly provided in this Lease. Notwithstanding the foregoing,
in no event shall Tenant have the right to dispute or audit Overhead Rent to the
extent that such Overhead Rent is less than $4.50 per square foot of Rentable
Area.
C. LATE CHARGE. Tenant covenants and agrees to pay a late charge
in the amount of Five (5.0%) percent of any payment of Base Rent and Overhead
Rent not received by Landlord within three (3) days from written notice from
Landlord and within ten (10) days from written notice from Landlord for all
other payments due hereunder. Tenant shall also pay Landlord interest at a rate
equal to twelve percent (12%) per annum accruing on any Rent(s) outstanding
beyond such three (3) day period or ten (10) day period, as applicable. Tenant
shall pay Landlord any such late charge(s) or interest within five (5) days
after Landlord notifies Tenant of same.
D. DEFINITION OF RENT. The term "Rent" shall refer collectively
to Base Rent, Overhead Rent and Additional Rent. The term "Additional Rent" is
sometimes used herein to refer to any and all other
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BLUE LAKE STANDARD LEASE
sums payable by Tenant hereunder, including, but not limited to, parking charges
and sums payable on account of default by Tenant. All Rent shall be paid by
Tenant without offset, demand or other credit except as otherwise specifically
provided herein, and shall be payable only in lawful money of the United States
of America which shall be legal tender in payment of all debts and dues, public
and private, at the time of payment. All sums payable by Tenant hereunder by
check shall be obtained against a financial institution located in the United
States of America. The Rent shall be paid by Tenant at the Building management
office located in the Building or elsewhere as designated by Landlord in writing
to Tenant. Any Rent payable for a portion of a month shall be prorated based
upon the number of days in the applicable calendar month.
E. RENT TAXES. In addition to Base Rent and Overhead Rent, Tenant
shall and hereby agrees to pay to Landlord each month a sum equal to any sales
tax, tax on rentals and any other similar charges now existing or hereafter
imposed, based upon the privilege of leasing the space leased hereunder or based
upon the amount of rent collected therefor.
F. COMMENCEMENT OTHER THAN FIRST DAY. If the Commencement Date
occurs on any day other than the first day of the month, or the Lease Term ends
on a date other than the last day of a calendar month, Tenant shall occupy the
Premises under the terms of this Lease and the pro rata portion of the Rent
shall be paid by Tenant; provided, however, that in such an event the
Commencement Date, for the purposes of this Lease, shall be deemed to be the
first day of the month immediately following the month in which possession is
given.
G. OVERHEAD RENT AFTER EXPIRATION DATE. Overhead Rent for the
final months of this Lease is due and payable even though it may not be
calculated until subsequent to the Expiration Date of the Lease.
4. SECURITY DEPOSIT.
A. SECURITY DEPOSIT. [Intentionally Omitted.]
B. SECURITY INTEREST. Landlord waives any statutory and common
law liens for rent, except as any tenant improvements installed or constructed
in the Premises, which waiver shall be automatic and self-executing.
Notwithstanding the foregoing, Landlord agrees to execute such reasonable
documents requested by Tenant to evidence such waiver set forth herein.
5. USE
A. GENERAL. Tenant will use and occupy the Premises solely
specific uses set forth in the BLI Rider and for no other use whatsoever. Tenant
shall, at its own cost and expense, obtain any and all licenses and permits
necessary for such use. Tenant acknowledges that its type of business, as above
specified, is a material consideration for Landlord's execution of this Lease.
Tenant will not commit waste upon the Premises nor suffer or permit the Premises
or any part of them to be used in any manner, or suffer or permit anything to be
done in or brought into or kept in the Premises or the Building, which would:
(i) violate any law or requirement of public authorities, (ii) cause injury to
the Building or any part thereof, (iii) annoy or offend other tenants or their
patrons or interfere with the normal operations of HVAC, plumbing or other
mechanical or electrical systems of the Building or the elevators installed
therein, (iv) constitute a public or private nuisance, or (v) alter the
appearance of the exterior of the Building or of any portion of the interior
other than the Premises pursuant to the provisions of this Lease. Tenant agrees
and acknowledges that Tenant shall be responsible for obtaining, and for any and
all costs of obtaining, any special amendments to the certificate of occupancy
for the Premises and/or the Building and any other governmental permits,
authorizations or consents required solely on account of Tenant's use of the
Premises.
B. PROHIBITED USES. Notwithstanding anything to the contrary in
this Lease or the BLI Rider, including but not limited to, the "Use of Premises"
Section of the BLI Rider, Tenant hereby covenants and agrees that Tenant's
business is not and shall not be, and that Tenant shall not use the Premises or
any part thereof, or permit the Premises or any part thereof to be used without
Landlord's prior written consent, [(i) for the business of photographic,
multilith or multigraph reproductions or offset printing; (ii) for a retail
banking, trust company, depository, guarantee or safe deposit business open to
the general public, or indoor automated teller machines, (iii) as a savings
bank, a savings and loan company open to the general public, (iv) for the sale
to the general public of travelers checks, money orders, drafts, foreign
exchange or letters of credit or for the receipt of money for transmission, (v)
as a stock broker's or dealer's office or for the underwriting or sale of
securities open to the general public, (vi) as a restaurant, cafeteria, bar, or
an establishment for the sale of confectionery, soda, beverages, sandwiches, ice
cream or baked goods or for the preparation, dispensing or consumption of food
or beverages in any manner whatsoever, (vii) as a news or cigar stand, (viii) as
an employment agency, labor union office, physician's or dentist's office, dance
or music studio, school (except for the training of employees and clients of
Tenant), (ix) as a ▇▇▇▇▇▇ shop or beauty salon, (x) for the business of (a)
operating a shared office facility, that is, a business which subleases space
and/or offers centralized services to subtenants or customers on a shared basis,
such as secretarial, receptionist, telephone, etc., or (b) for a fee to persons
inside or outside of the Building, providing as a service word processing,
secretarial, video conferencing, conference services, telephone answering,
receptionist or mail receipt services, (xi) for any services or uses to the
general
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BLUE LAKE STANDARD LEASE
public to be conducted on the Premises, (xii) amateur recreational uses or movie
theaters, (xiii) retail sales, including but not limited to drug stores or
florists, or (xiv) warehousing, showroom and wholesale uses. Nothing in this
Section shall preclude Tenant from using any part of the Premises for
photographic, multilith or multigraph reproductions to the extent that such uses
are incidental to Tenant's own business or activities.
6. ACCEPTANCE OF PREMISES; LANDLORD'S WORK
Taking possession of the Premises by Tenant shall be conclusive
evidence that the Premises were in good and satisfactory condition when
possession was so taken subject to latent defects and Landlord's maintenance and
repair obligations provided in this Lease. Unless expressly stated herein to the
contrary, Landlord has no obligation to repair, improve, or add to the Premises
subsequent to Tenant's taking possession thereof and Tenant shall, at its sole
cost and expense and in compliance with the provisions of this Lease, be
responsible for any changes, alterations, replacements or repairs, maintenance
and decorations to the Premises. Except as may be specifically provided in this
Lease, Tenant shall not be required to make alterations to the structural or
base building improvements of the Building. Neither Landlord nor Landlord's
agents have made any representations or promises with respect to the physical
condition of the Building or the Premises, or any other matter or thing
affecting or relating to Premises except as herein expressly set forth, and no
rights, easements or licenses are acquired by Tenant by implication or
otherwise, except as expressly set forth in the provisions of this Lease.
Notwithstanding the foregoing, Landlord represents and warrants to Tenant that
it has not received any notice that the Building is currently in violation of
any laws, regulations or ordinances. Any existing ceiling system and demountable
partitions are to remain in the Premises at the time of the delivery of the
Premises and may be utilized by Tenant without charge. Improvements, if any, to
be made to the Premises by Tenant shall be made in accordance with the Work
Letter. Landlord's published list of pre-approved general contractors and
architects for The Blue Lake Corporate Center, as may be amended from time to
time by Landlord at its sole option (except if Landlord has already approved a
general contractor or architect), shall have the exclusive right to bid for
Tenant's construction contracts. Improvements, if any, to be made to the
Premises by Landlord are specifically set forth in the Work Letter and there are
no others. All leasehold improvements (as distinguished from trade fixtures and
apparatus) installed in the Premises at any time, whether by or on behalf of
Tenant or by or on behalf of Landlord, shall not be removed from the Premises at
any time, unless such removal is consented to in advance by Landlord; and at the
expiration of this Lease (either on the Expiration Date or upon such earlier
termination as provided in this Lease), all such leasehold improvements shall be
deemed to be part of the Premises, shall not be removed by Tenant when it
vacates the Premises, and title thereto shall vest solely in Landlord without
payment of any nature to Tenant. All trade fixtures and apparatus (as
distinguished from leasehold improvements) owned by Tenant and installed in the
Premises shall remain the property of Tenant and shall be removable at any time,
including upon the expiration of the Term; provided that Tenant shall repair any
damage to the Premises caused by the removal of said trade fixtures and
apparatus and shall restore the Premises to substantially the same condition as
existed prior to the installation of said trade fixtures and apparatus. The
taking of possession by Tenant (or any permitted assignee or subtenant of
Tenant) of all or any portion of the Premises for the conduct of business will
be deemed conclusive evidence that Tenant has found the Premises, and all of
their fixtures and equipment, acceptable, subject to latent defects and
Landlord's maintenance and repair obligations provided in this Lease.
7. PARKING
A. RESERVATIONS. Landlord has and reserves the right to
reasonably alter the methods used to control parking and the right to reasonably
establish such controls and rules and regulations (such as parking stickers to
be affixed to vehicles) regarding parking that Landlord may deem desirable.
Without liability, Landlord will have the right to tow or otherwise remove
vehicles improperly parked, blocking ingress or egress lanes, or violating
parking rules, at the expense of the offending tenant and/or owner of the
vehicle.
B. CONDITIONS. Tenant's right to use, and its right to permit its
principals and guests to use, the parking facilities pursuant to this Lease are
subject to the following conditions: (i) Landlord reserves the right to
reasonably reduce the number of spaces in the parking area by not more than ten
percent (10%) of the then number of parking area spaces in the parking area
and/or reasonably change access thereto so long as such does not materially
reduce the number of parking spaces within reasonable proximity to the Premises;
and none of the foregoing shall entitle Tenant to any claim against Landlord or
to any abatement of Rent (or any part thereof); (ii) Landlord has no obligation
to provide a parking lot attendant and Landlord shall have no liability on
account of any loss or damage to any vehicle or the contents thereof except to
the extent caused by the negligence or willful misconduct of Landlord, or its
agents, employees or contractors, Tenant hereby agreeing to bear the risk of
loss for same; (iii) Tenant, its agents, employees and invitees, shall park
their automobiles and other vehicles only where and as reasonably designated
from time to time by Landlord within the parking area so long as such remain in
reasonable proximity to the Premises; and (iv) if and when so requested by
Landlord, Tenant shall furnish Landlord with the license numbers of any vehicles
of Tenant, its agents and employees.
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BLUE LAKE STANDARD LEASE
8. BUILDING SERVICES
A. GENERAL. In general, the services set forth below will be
provided by Landlord or Landlord's licensee or an independent contractor
contracted for by Landlord at a service level set, defined and regulated
consistent with office buildings of similar quality to and in the same immediate
geographic area as the Building. During the Lease Term, the regular business
hours ("Business Hours") of the Building (including the auditorium and
cafeteria) will be 7:00 a.m. to 7:00 p.m., Monday through Saturday, except
holidays generally recognized by state and federal governments or as may be
shortened in accordance with applicable policies or regulations adopted by any
utility company servicing the Building or government. During periods other than
Business Hours chilled water will be available from Landlord or its energy
manager on prior request on an as-available basis at the per-ton-pricing from
time-to-time then in effect, except if such chilled water is separately metered
to the Premises, in which event Tenant shall pay the costs of such chilled water
as provided in below. Landlord reserves the right to increase the Business
Hours. The Building will be accessible to Tenant, its subtenants, agents,
servants, employees, contractors, invitees or licensees (collectively, "Tenant's
Agents") twenty-four hours per day, seven days per week except in the case of
temporary closure due to emergencies, repairs, casualty, governmental or
quasi-governmental requirements or as Landlord reasonably deems necessary in
order to prevent damage or injury to person or property. Landlord shall use
reasonable efforts not to materially disturb or interfere with Tenant's business
or Tenant's use of the Premises in connection with any such entry.
(1) ELECTRICITY:
(a) Landlord is the exclusive vendee of electrical utility
services for the Project. There shall be installed, at Landlord's expense, in
conformance with the Work Letter, separate electric metering for the Premises.
Tenant shall pay all applicable security deposits required to secure electrical
services as provided in the BLI Rider. Landlord shall be solely responsible for
the expenses of all sub-metering for all other utility services to the Premises,
to the extent such may be reasonably sub-metered. In the event that sub-metering
is not available until completion of all demising work for the Premises prior to
the Rent Commencement Date electric power will be available through the auspices
of the Landlord or its utility vendor for the purpose of lighting and general
office equipment use in amounts consistent with Building Standard Electric
Capacities. Landlord reserves the right after business hours during non-Business
Hours to turn off all unnecessary lighting in the unoccupied areas of the
Building to minimize the energy consumption of the Building. Tenant will not,
without written consent of Landlord connect with electric current except through
existing electrical outlets in the Premises, any major apparatus or major device
for the purpose of using electric current, except for Tenant's ability to add a
supplemental package air-conditioning unit as provided in this Section 8.
(2) STAND-BY ELECTRIC GENERATOR RIDER. Tenant may participate in
the stand-by electric generator service program available to the Building by
executing the stand-by electric generator subscription rider attached hereto and
made a part hereof as Exhibit "G".
(3) AIR-CONDITIONING SERVICES:
Landlord agrees that either Landlord or its designated utility manager
(the "Utility Manager") shall provide, air-conditioning services to the Premises
which air-conditioning services (including chilled water) shall be separately
metered to the Premises and billed directly by either Landlord or the Utility
Manager directly to Tenant. During Business Hours, air conditioning consistent
with comparable buildings in the Boca Raton area shall be supplied to the
Premises for the purposes of comfort control in the Premises during regular
business hours consistent with comparable office buildings in the Boca Raton
area. Landlord and Tenant agree that Landlord's air-conditioning system is not
designed to cool machinery and equipment. Tenant shall not re-direct, or in any
manner modify, the air-conditioning duct distribution to accommodate Tenant's
build-out unless any such modifications are first approved in writing by the
Landlord, which modifications shall be designed only by an engineer pre-approved
by the Landlord. If Tenant requires additional air-conditioning services for
comfort control during Business Hours, (i.e., in excess of Building Standard) or
during non-Business Hours Landlord shall, in response to Tenant's request for
any such additional air-conditioning service accommodate Tenant subject to
availability at the then prescribed per-ton hour basis which service shall be
billed to Tenant as Additional Rent. At the time of the execution of this Lease,
the per-ton hour charge for additional air-conditioning services is $.24. This
rate may be subject to change during the Lease Term as evaluated and determined
by FPL Services, the Utility Manager or a similar service. At Landlord's option,
Landlord may secure air-conditioning controls (thermostats) in lockable metal
boxes to regulate the efficiency and use of the system. The Landlord may, at its
option, contract with FPL Services, or such other provider of chilled-water
distribution system sources as the Landlord may reasonably elect.
(4) WATER AND SEWER:
Landlord agrees to provide municipally supplied cold water and
sewer services to the Common Areas for lavatory purposes.
(5) ELEVATOR SERVICE:
Subject to events of force majeure, Tenant shall have passenger
elevator access to the Premises twenty-four (24) hours per day, seven days per
week; however, access for deliveries and use of
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BLUE LAKE STANDARD LEASE
freight elevators are subject to Landlord's reasonable rules and regulations.
(6) WINDOW WASHING:
Landlord will provide exterior window washing with reasonable
frequency.
B. INTERRUPTION OF SERVICES. Tenant understands and agrees that
Landlord does not warrant that any of the services referred to above, or any
other services which Landlord may supply, will be free from interruption. Tenant
acknowledges that any one or more of such services may be suspended by reason of
accident or repairs, alterations or improvements necessary to be made, or by
strikes or lockouts, or by reason of operation of law, or other causes beyond
the control of Landlord. No such interruption or discontinuance of service will
be deemed an eviction or a disturbance of Tenant's use and possession of the
Premises or any part thereof, or render Landlord liable to Tenant for damages or
abatement of Rent or relieve Tenant from the responsibility of performing any of
Tenant's obligations under this Lease. However, to the extent that electrical
service is interrupted for more than five (5) consecutive business days due to
the negligence or wilful act of the Landlord, its agents, employees or
contractors, and such interruption prevents the Tenant from occupying the
Premises for its business operations and Tenant does not occupy the Premises for
the duration of such interruption, Rent shall ▇▇▇▇▇ to the extent that such
interruption continues beyond the five (5) consecutive business day period.
C. FIBER OPTICS. Tenant may contract with BellSouth, which has
been provided access through the underlying property by Landlord for
telecommunication service wiring and installation and which has been designated
by the Landlord as the vendor of choice at the Blue Lake Building, for
voice and data telecommunication wiring and services, and installing any
telecommunication products and, specifically, dual access points for Tenant's
fiber optic lines, at Tenant's sole expense. To the extent that such
installation requires the digging of a trench through the Property in order to
gain dual access points, the Tenant shall provide the Landlord with plans and
schematics for the referenced installation which plans and schematics shall be
subject to the reasonable satisfaction of the Landlord and which installation
shall be further subject to the approval, as necessary, of the City of Boca
Raton or other agencies having jurisdiction thereon.
D. UTILITY DEREGULATION: Landlord has advised Tenant that
presently, Florida Power & Light ("Electric Service Provider") is the utility
company selected by Landlord to provide utility service for the Building.
Notwithstanding the foregoing, if permitted by law, Landlord shall have the
right at any time and from time to time during the Lease Term to either contract
for service from a different company or companies providing electric service (a
such company shall hereinafter be referred to as an "Alternate Service
Provider") or continue to contract for service from the Electric Service
Provider. Tenant shall cooperate with Landlord, the Electric Service Provider
and any Alternate Service Provider at all times and, as reasonably necessary,
shall allow Landlord, Electric Service Provider, and any Alternate Service
Provider reasonable access to the Building's electric lines, feeders, risers,
wiring and any other machinery within the Premises. Landlord shall be in no way
liable or responsible for any loss, damage or expense that Tenant may sustain or
incur by reason of change, failure, interference, disruption or defect in the
supply or character of the electric energy furnished to the Premises (except to
the extent caused by the negligence or willful misconduct of Landlord, its
agents, employees or contractors), or if the quantity or character of the
electric energy supplied by the Electric Service Provider or any Alternate
Service Provider is no longer available or suitable for Tenant's requirements,
then no such change, failure, defect, unavailability or unsuitability shall
constitute an actual or constructive eviction, in whole or in part, or entitle
Tenant to any abatement or diminution of Rent, or relieve Tenant from any of its
obligations under the Lease.
9. SECURITY
With respect to security for the Building and the parking lot,
Landlord and Tenant hereby agree as follows: Security of the Premises is the
sole responsibility of the Tenant and that the Landlord has no liability for
breach of security to the Premises. Tenant may at Tenant's expense install a
security system to the Premises; provided, however, that Tenant, in addition to
access otherwise required hereunder, will provide Landlord adequate access to
the Premises in case of emergencies particularly regarding Premises that contain
fire sprinkler risers and equipment. Landlord will install in the Building, an
access device, such as a keypad or card reader, as Landlord may deem appropriate
for the Building, in Landlord's sole and absolute discretion. All repairs
required to the Premises caused by security breaches are the responsibility of
the Tenant, except to the extent caused by the negligence or willful misconduct
of Landlord, its agents, employees or contractors, however, Landlord may elect
to effect such repairs, if appropriate to insure continued security, protection
of property, or safety of life. The cost of such repairs shall be Additional
Rent.
A. TENANT'S RESPONSIBILITY. Tenant shall: (1) abide by all
reasonable policies, procedures and rules and regulations for use of the access
system, (2) report promptly the loss or theft of all keys which would permit
unauthorized entrance to the Premises, Building or parking lot, (3) promptly
report to Landlord door-to-door solicitation or other unauthorized activity in
the Building or parking lot, and (4) promptly inform the Landlord's security
contractor in the event of a break-in or other emergency. In addition, Tenant
may, at its option and sole cost and expense, install its own interior security
system pursuant to plans to be submitted to Landlord
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BLUE LAKE STANDARD LEASE
for Landlord's approval, which approval shall not be unreasonably withheld. The
Tenant shall deliver mechanic's lien releases prior to the initiation of the
work.
B. INTERRUPTION OF SECURITY. Tenant acknowledges that the above
security provisions may be suspended or modified at Landlord's sole discretion
or as a result of causes beyond the reasonable control of Landlord. No such
interruption, discontinuance or modification of security service will constitute
an eviction, constructive eviction, or a disturbance of Tenant's use and
possession of the Premises, and further, no interruption, discontinuance or
modification of security service will render Landlord liable to Tenant or
third-parties for damages, abatement of Rent, or otherwise, or relieve Tenant of
the responsibility of performing Tenant's obligations under this Lease.
C. HURRICANE SHUTTER OPTION. Tenant may, at Tenant's sole cost
and expense (which shall include all expenses reasonably incurred by Landlord
unless plans for hurricane shutters were incorporated as part of the initial
construction document review process) install protective hurricane shutters on
the interior of the windows of the Premises. Any such installation of hurricane
shutters shall be subject to the prior approval of the Landlord, which approval
shall not be unreasonably withheld. The hurricane shutters shall be approved by
the Landlord as to size, color, type of shutter, mode of attachment and such
other criteria as Landlord shall from time-to-time determine. The Tenant must
also receive the approval of the City of Boca Raton, Florida prior to the
installation of hurricane shutters.
10. REPAIRS, MAINTENANCE AND UTILITIES
A. LANDLORD'S RESPONSIBILITIES. During the Lease Term, Landlord
shall maintain the level of repairs and maintenance (and replacements if needed)
for the Building, the Common Areas, and all other areas serving the Building, in
a manner comparable to office buildings of similar quality to and in the
immediate geographic area of the Building and perform or have performed all such
repairs and maintenance. Landlord's responsibilities for repairs and maintenance
with respect to this paragraph are as follows: (1) the structural, foundation,
and roof systems of the Building and the surface parking lot, (2) the Building
standard electrical and mechanical systems, (3) the primary water and sewer
systems, life-safety, air conditioning, and sprinkler systems, of the Building
and to the Premises (excluding, however, those systems which are installed by
Tenant for Tenant's sole use), (4) the Building Common Areas and the common area
furniture, fixtures, and equipment and exterior windows, (5) the landscaped
areas in and about the Building, (6) the parking lot, driveways, sidewalks,
drainage systems and exterior Common Areas, and (7) replacement of Building
standard fluorescent light bulbs in the Common Areas.
B. TENANT'S RESPONSIBILITIES. Tenant shall at its own cost and
expense keep and maintain all parts of the Premises and such portion of the
Building within the exclusive control of Tenant in good condition, promptly
making all necessary repairs and replacements, whether ordinary or
extraordinary, with materials and workmanship of the same character, kind and
quality as the original, including but not limited to interior windows, glass
and plate glass, doors, skylights, any, special office entries, interior walls
and finish work, floors and floor coverings, heating and air conditioning,
electrical systems and fixtures, sprinkler systems, water heaters, truck doors,
and plumbing work and fixtures, all of the foregoing systems inside the
Premises. Tenant as part of its obligation hereunder shall keep the whole of the
Premises in a clean and sanitary condition. Tenant will as far as possible keep
all such parts of the Premises from deteriorating, ordinary wear and tear
excepted, and from falling temporarily out of repair, and upon termination of
this Lease in any way. Tenant will yield up the Premises to Landlord in good
condition and repair, loss by fire or other casualty covered by insurance to be
secured pursuant to section 14 excepted (but not excepting any damage to glass
or loss not reimbursed by insurance because of the existence of a deductible
under the appropriate policy, ordinary wear and tear excepted). Tenant shall not
damage any demising wall or disturb the integrity and supports provided by any
demising wall and shall, at its sole cost and expense, properly repair any
damage or injury to any demising wall caused by Tenant or its employees, agents
or invitees. Tenant shall, at its own cost and expense, as additional rent, pay
for the repair of any damage to the Premises or the Building, resulting from
and/or caused in whole or in part by the negligence or misconduct of Tenant, its
agent, servants, employees, patrons, customers, or any other person entering
upon the Building as a result of Tenant's business activities caused by Tenant's
default hereunder.
C. REPAIRS AND MAINTENANCE; MISCELLANEOUS. Notwithstanding
anything to the contrary in this Lease, Landlord shall have no responsibility to
repair or maintain the Building, any of its components, the Common Areas, the
Premises, or any fixture, improvement, trade fixture, or any item of personal
property contained in the Building, the Common Areas, and/or the Premises if
such repairs or maintenance are required because of the occurrence of any of the
following: (i) the improper acts, misuse, improper conduct, omission or neglect
of Tenant or Tenant's Agents, or (ii) the conduct of business in the Premises.
Should Landlord elect to make repairs or maintenance occasioned by the
occurrence of any of the foregoing, Tenant shall pay as Additional Rent all such
reasonable costs and expenses incurred by Landlord. Landlord shall have the
right to reasonably approve in advance all work, repair, maintenance or
otherwise, to be performed under this Lease by Tenant and all of Tenant's
repairmen, contractors, subcontractors and suppliers performing work or
supplying materials. Tenant shall
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BLUE LAKE STANDARD LEASE
be responsible for all permits, inspections and certificates for accomplishing
the above. Tenant shall obtain lien waivers for all work done in or to the
Premises, by contractors, subcontractors, and suppliers retained by Tenant.
11. TENANT'S ALTERATIONS
A. GENERAL. During the Lease Term, Tenant will make no
alterations, additions or improvements in or to the Premises or the Building
envelope, structure, roof, mechanical and plumbing systems, electrical systems,
or any area in which asbestos has been located (as noted in the Environmental
Report (as hereinafter defined) or as identified in writing by the Landlord) ,
and will perform no work the cost of which is in excess of $20,000.00 in the
aggregate (any and all of such alterations, additions or improvements other than
those set forth in the Work Letter attached hereto are collectively referred to
in this Lease as the "Alteration(s)", and the foregoing Alterations collectively
referred to as "Major Alterations"), without the prior written consent of
Landlord, which consent shall not be unreasonably withheld. Tenant shall submit
to Landlord detailed drawings and plans of the proposed Major Alterations at the
time Landlord's consent is sought. Upon Landlord's consent to any proposed Major
Alterations by Tenant, such consent will be conditioned upon Tenant's agreement
to comply with all reasonable requirements established by Landlord, including
safety requirements and the matters referenced in Section 22 of this Lease. All
Alterations shall be done in compliance with all other applicable provisions of
this Lease and with all applicable laws, ordinances, directives, rules and
regulations of government or authorities having jurisdiction, including, without
limitation, the Americans with Disabilities Act (ADA), the Florida Accessibility
Code, and all laws dealing with the abatement, storage, transportation and
disposal of asbestos or other hazardous materials, which work, shall be effected
by contractors and consultants reasonably approved by Landlord and in compliance
with all applicable laws and with Landlord's rules and regulations. Tenant may
provide Landlord with a list of proposed contractors and consultants regularly
engaged by Tenant for minor Alterations such as carpeting, painting, and low
voltage wiring. Once such list has been approved by Landlord, the Tenant shall
not be required to obtain separate approvals for such contractors and
consultants for each such minor Alterations project. Notwithstanding anything to
the contrary contained in this Section, Tenant shall not penetrate or disrupt
the structural columns of the Building located within the Premises; and shall
not penetrate or disrupt any area within three (3) feet of any structural column
in performing any Alterations, without Landlord's prior written consent which
shall not be unreasonably withheld or delayed. All Material Alterations shall be
performed by those pre-qualified architects and contractors designated by
Landlord as approved for the Blue Lake Corporate Center, a list of which are
attached hereto and made a part hereof as Exhibit "B-3", which list is subject
to amendment from time-to-time. If Tenant elects to remove any Major Alterations
at the expiration of the Lease, Tenant shall repair any and all damage caused to
the Premise by such removal. Additionally, prior to the commencement of any work
by or for Tenant, Tenant shall furnish to Landlord certificates evidencing the
existence of builder's risk, comprehensive general liability, and worker's
compensation insurance complying with the requirements of Insurance Section of
this Lease. Any damage to any part of the Building that occurs as a result of
any Alterations shall be repaired by Tenant, as soon as reasonably practicable,
to the reasonable satisfaction of Landlord. Tenant and its contractor and all
other persons performing any Alterations shall abide by the Landlord's
reasonable job site rules and regulations and reasonably cooperate with
Landlord's construction representative in coordinating all of the work in the
Building including, without limitation, the hours of work, parking, and use of
the construction elevator. Landlord shall not charge any other fee to Tenant in
respect of Landlord's construction representative. All alterations will comply
with the requirements of any energy efficiency program offered by the electric
service provided to the Building to the extent practicable. All materials used
in any Major Alterations, including, without limitation, paint, carpet, wall or
window coverings, carpet glues, and any other chemicals shall be subject to
Landlord's prior written reasonable approval. All alterations shall be done in a
good and workmanlike manner. Tenant shall, prior to the commencement of any
Alterations, obtain and exhibit to Landlord any governmental permit required for
the Alterations. Within ten (10) days after completion of any Alteration, Tenant
shall deliver to the Landlord, copies of any plans and specifications for such
Alteration. All contractors, sub-contractors, mechanics, laborers and
materialmen shall be put on notice of and shall be subject to the fact that
Tenant is not authorized to subject Landlord's interest in the Building or the
Premises to any claim for construction, mechanics, laborer's and materialman's
liens and all persons dealing directly or indirectly with Tenant may not look to
the Landlord's interest in the Premises as security for payment, all as more
fully provided in Section 26 of this Lease.
B. ALTERATION COSTS.
(1) Tenant shall pay to Landlord as Additional Rent (or to
its nominee or designated contractor, as Landlord may direct) in connection with
all Major Alterations (other than the initial tenant improvements) reasonable
fees and costs of Landlord's engineers, architects, and construction managers
for review and approval of all plans and specifications for such Major
Alteration, and for all other reasonable costs and expenses incurred by Landlord
as a result of or in connection with each such Major Alteration, based on an
hourly fee and reasonable and customary hours expended for each such Major
Alteration.
(2) The Major Alteration costs shall be paid monthly
installments during the course
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BLUE LAKE STANDARD LEASE
of the performance of the Major Alteration, within thirty (30) days from receipt
of Landlord's reasonably detailed invoice. Within thirty (30) days after
completion of the Major Alteration, Tenant shall pay to Landlord the entire
balance of the Major Alteration costs if not theretofore paid in full.
12. LANDLORD'S ADDITIONS AND ALTERATIONS
Landlord has the right to make changes in and about the Building and
parking areas, including, but not limited to, signs, entrances, address or name
of Building. Such changes may include, but not be limited to, rehabilitation,
redecoration, refurbishment and refixturing of the Building and expansion of or
structural changes to the Building. The right of Tenant to quiet enjoyment and
peaceful possession given under the Lease will not be deemed breached or
interfered with by reason of Landlord's actions pursuant to this paragraph so
long as such actions do not materially deprive Tenant of its use and enjoyment
of the Premises. If Landlord voluntarily changes the street address of the
Building, then Landlord will reimburse Tenant for all reasonable expenses
incurred by Tenant in connection with reprinting stationery, business cards, and
brochures due to such change (but not to exceed $5,000.00), unless Landlord
provides Tenant at least one hundred twenty (120) days prior written notice of
such change.
13. ASSIGNMENT AND SUBLETTING
A. LANDLORD'S CONSENT REQUIRED. Except as provided below with
respect to assignment of this Lease following Tenant's bankruptcy, neither
Tenant, nor Tenant's legal representatives or successors-in-interest by
operation of law or otherwise will effect a "Transfer", as herein defined
without first obtaining the consent of Landlord, which consent Landlord shall
not unreasonably withhold or delay provided that all of the requirements of
paragraph B. of this Section 13 are satisfied. As used in this Section 13, any
of the following shall be deemed to be a Transfer ("Transfer"): assignment of
this Lease, in whole or in part; sublet of all or any part of the Premises; any
license allowing anyone other than Tenant to use or occupy all or any part of
the Premises; a pledge or encumbrance by mortgage or other instrument of
Tenant's interest in this Lease; any transfer of corporate shares as described
in paragraph C. of this Section 13; or any transfer of partnership interest as
described in paragraph D. of this Section 13. Consent by Landlord to any
transfer shall not constitute a waiver of the requirement for such consent to
any subsequent transfer. Upon such approved assignment, Tenant shall not be
released from its obligations hereunder arising after such assignment has been
accomplished, unless the approved assignee specifically assumes, in writing, for
the benefit of the Landlord, all such obligations, in which event Tenant shall
be released of all such obligations hereunder.
B. CONDITIONS FOR TRANSFER APPROVAL. Unless all of the following
conditions are satisfied, Landlord withholding of consent will be deemed
reasonable:
(1) In Landlord's reasonable judgment, the proposed
assignee or subtenant or occupant is engaged in a business or activity, which
(a) is in keeping with the then zoning requirements, (b) is limited to the use
of the Premises as set forth in the BLI Rider, and (c) will not violate any
negative covenant as to use contained in any other lease of office space in the
Building; (d) use of the Premises by the proposed transferee or assignee will
not violate or create any potential violation of any laws or any other
agreements affecting the Premises, the Building, the Landlord or other tenants;
(2) The proposed transferee is a reputable person of good
character, in Landlord's reasonable judgment, and has sufficient financial
wherewithal to discharge its obligations under this Lease and/or the proposed
Agreement of Assignment or the Sublease.
(3) The form of the proposed sublease or instrument of
assignment or occupancy shall be reasonably satisfactory to Landlord, and shall
comply with the applicable provisions of this Section;
(4) There shall not be more than a total of three (3)
occupying entities (including Tenant and any assignee or sublessee requiring
approval by Landlord hereunder) of the Premises; and
(5) The proposed subtenant or assignee or occupant shall
not be entitled, directly or indirectly, to diplomatic or sovereign immunity and
shall be subject to the service of process in, and the jurisdiction of the
courts of the State of Florida.
(6) Such transferee (if an assignment) shall assume in
writing, in a form reasonably acceptable to Landlord, all of Tenant's
obligations hereunder and Tenant shall provide Landlord with a copy of such
assumption/ transfer document;
(7) Tenant shall reimburse Landlord for all of its
reasonable out-of-pocket costs and expenses incurred with respect to the
transfer, not to exceed $5,000.00.
(8) Tenant to which the Premises were initially leased
shall continue to remain liable under this Lease for the performance of all
terms, including but not limited to, payment of Rental due under this Lease;
(9) Tenant's Guarantor, if any, shall continue to remain
liable under the terms of the Guaranty of this Lease and, if Landlord deems it
necessary, such guarantor shall execute such
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BLUE LAKE STANDARD LEASE
documents necessary to insure the continuation of its guaranty;
(10) Each of Landlord's Mortgagees shall have consented in
writing to such transfer.
(11) Tenant shall give notice of a requested transfer to
Landlord, which notice shall be accompanied by (a) a conformed or photostatic
copy of the proposed assignment or sublease, the effective or commencement date
of which shall be at least thirty (30) days after the giving of such notice, (b)
a statement setting forth in reasonable detail the identity of the proposed
assignee or subtenant, the nature of its business and its proposed use of the
Premises, (c) current financial information with respect to the proposed
assignee or subtenant, including, without limitation, its most recent financial
report and (d) such other information as Landlord may reasonably request.
(12) The proposed use of the Premises by the Transferee
will not require increased services from the Landlord from that provided to
Tenant under the Lease.
(13) Then sublease or assignment will not violate any
exclusivity clause contained in any lease affecting any portion of the Building.
C. TRANSFER OF CORPORATE SHARES. Notwithstanding anything to the
contrary contained in this Lease, Tenant may assign this Lease or sublet all or
any portion of the Premises from time to time, without Landlord's consent, to
any entity controlling, controlled by or under common control with Tenant, or to
any successor of Tenant resulting from a merger or consolidation of Tenant, or
as a result of a sale by Tenant of all or substantially all of its assets or
stock, provided that no such transfer shall relieve Tenant or the Guarantor from
any liability under this Lease, whether accrued to the date of such transfer or
thereafter accruing. In addition, any change in the controlling interest in the
stock of Tenant as a result of an initial public offering of Tenant's stock, and
any transfer of the capital stock of Tenant by persons or parties through the
"over-the-counter market" or through any recognized stock exchange, shall not be
deemed to be a transfer requiring Landlord's consent. Landlord shall not be
entitled to receive any portion of the Transfer consideration as described below
arising out of an assignment or sublease not requiring Landlord's consent.
Tenant shall provide written notice of such assignment or subletting, together
with the name and address of the assignee or subtenant, five (5) days prior to
the assignment or subletting to the extent permitted by law, but in no event
more than ten (10) days after such assignment or subletting.
D. ACCEPTANCE OF RENT FROM TRANSFEREE. The acceptance by Landlord
of the payment of Rent following any assignment or other transfer prohibited by
this Section shall not be deemed to be a consent by Landlord to any such
assignment or other transfer nor shall the same be deemed to be a waiver of any
right or remedy of Landlord hereunder. Following a permitted sub-lease, if
Tenant breaches any of the terms and provisions of this Lease, Landlord may
elect to receive directly from the Sub-tenant due or payable to Tenant by
Sub-Tenant pursuant to the Sub-Lease, and upon receipt of a written notice from
Landlord referencing this section, Sub-Tenant shall have to pay to Landlord any
and all sums becoming due or payable under the Sub-Lease. Tenant shall receive
from Landlord a corresponding credit for such sums against any payments then due
or thereafter becoming due from Tenant. Neither the giving of such written
notice to Sub-Tenant nor the receipt of such direct payments from the Sub-Tenant
shall cause the Landlord to assume any of Tenant's duties, obligations, and/or
liabilities under any sublease, nor shall such event impose upon Landlord the
duty or obligation to honor the sublease or subsequently to accept Sub-Tenant's
attornment.
E. If, this Lease is purported to be assigned, without the
consent of the Landlord, or the Premises are sublet or occupied by anyone other
than Tenant, Landlord may accept rents from the assignee, subtenant or occupant
and apply the net amount received to the Rent reserved in this Lease, but no
such assignment, subletting, occupancy or acceptance of Rent shall be deemed a
waiver of the requirement for Landlord's consent as contained in this section or
constitute a novation or otherwise release Tenant from its obligations under
this Lease.
F. If Landlord shall consent to any Transfer, Tenant shall in
consideration therefor, pay to Landlord as Additional Rent, an amount equal to
one hundred (100%) percent of the Transfer Consideration, or Landlord may elect
to recapture the Transferred portion of the Premises and terminate this Lease
with respect to that portion only. For purposes of this paragraph, the term
Transfer Consideration shall mean in any Lease Year (i) any rents, additional
charges or other consideration payable to Tenant by the transferee of the
Transfer which is in excess of the Base Rent and Overhead Rent accruing during
such Lease Year, net of the reasonable costs incurred by Tenant in connection
with the Transfer including but not limited to reasonable fees paid to Tenant's
attorneys and accountants with respect to the Transfer, broker commissions, and
advertising costs associated therewith, and improvement costs. Landlord shall
have the right to audit Tenant's books and records during normal business hours,
at a location in South Florida reasonably designated by Tenant, upon reasonable
notice to determine the amount of Transfer Consideration payable to Landlord. In
the event such audit reveals an understatement of Transfer Consideration in
excess of five percent (5%) of the actual Transfer Consideration due Landlord,
Tenant shall pay for the cost of such audit within ten (10) business days after
Landlord's written demand
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BLUE LAKE STANDARD LEASE
for same otherwise, Landlord shall be solely responsible for the costs of such
audit.
G. Any permitted sublease shall provide: (i) the subtenant shall
comply with all applicable terms and conditions of this Lease to be performed by
Tenant (except as to Rent); (ii) the sublease is expressly subject to all of the
terms and provisions of this Lease; and (iii) unless Landlord elects otherwise,
the sublease will not survive the termination of this Lease (whether voluntarily
or involuntarily) or resumption of possession of the Premises by Landlord
following a default by Tenant. The sublease shall further provide that if
Landlord elects, the sublease shall further survive a termination of this Lease
or resumption of possession of the Premises by Landlord following a default by
Tenant, the subtenant will, at the election of Landlord, attorn to the Landlord
and continue to perform its obligations under its sublease as if this Lease had
not been terminated and the sublease were a direct lease between the Landlord
and subtenant. The sublease shall otherwise be in form and substance reasonably
satisfactory to the Landlord's lawyer. Any permitted assignment of lease shall
contain an assumption by the Assignee of all terms, covenants and conditions of
this Lease to be performed by the Tenant and shall otherwise be in form and
substance reasonably satisfactory to the Landlord's lawyer.
H. BUILDING DIRECTORY ADDITIONS. The listing or posting of any
name, other than that of Tenant, whether on the door or exterior wall of the
Premises, the Building's tenant directory in the lobby or elevator, or elsewhere
shall not (i) constitute a waiver of Landlord's rights to withhold consent of
any sublease or assignment pursuant to this Section 13; (ii) be deemed an
implied consent by Landlord to any sublease of the Premises or any portion
thereof, to any assignment or transfer of the Lease, or to any unauthorized
occupancy of the Premises, except in accordance with the express terms of that
Lease; or (iii) operate to vest any right or interest in the Lease or in the
Premises. Any such listing as described in this subsection shall constitute a
privilege extended by Landlord to Tenant and shall be immediately revokable at
Landlord's will by notice to Tenant.
14. TENANT'S INSURANCE COVERAGE
A. GENERAL. Tenant agrees that, at all times during the Lease
Term (as well as prior and subsequent thereto if Tenant or any of Tenant's
Agents should then use or occupy any portion of the Premises), it will keep in
force, with an insurance company licensed to do business in the State of
Florida, and at least A+IX-rated in the most current edition of Best's Insurance
Reports and acceptable to Landlord, (i) without deductible in excess of
$5,000.00, comprehensive general liability insurance, including coverage for
bodily injury and death, property damage and personal injury and contractual
liability as referred to below, in the amount of not less than the amount set
forth in the BLI Rider, combined single limit per occurrence for injury (or
death) and damages to property, (ii) with deductible of not more than Five
Thousand Dollars ($5,000.00), insurance on an "All Risk or Physical Loss" basis,
including sprinkler leakage, vandalism, malicious mischief, fire and extended
coverage, covering all improvements to the Premises, fixtures, furnishings,
removable floor coverings, equipment, signs and all other decoration or stock in
trade, in the amounts of not less than the full replacement value thereof, and
(iii) workmen's compensation and employer's liability insurance, if required by
statute. Such policies will: (i) include Landlord, Landlord's Lender, and
Landlord's affiliates, or such other parties as Landlord may reasonably
designate as additional insured's, (ii) be considered primary insurance, (iii)
include within the terms of the policy or by contractual liability endorsement
coverage insuring Tenant's indemnity obligations under paragraph 19 for bodily
injury and property damage, and (v) provide that it may not be canceled or
changed without at least thirty (30) days prior written notice from the company
providing such insurance to each party insured thereunder. Tenant will also
maintain throughout the Lease Term worker's compensation insurance with not less
than the maximum statutory limits of coverage.
B. EVIDENCE. The insurance coverages to be provided by Tenant
will be for a period of not less than one year. At least thirty (30) days prior
to the Commencement Date, Tenant will deliver to Landlord original certificates
of all such paid-up insurance; thereafter, at least thirty (30) days prior to
the expiration of any policy Tenant will deliver to Landlord such original
certificates as will evidence a paid-up renewal or new policy to take the place
of the one expiring. Any insurance required of Tenant under this Lease may be
furnished by Tenant under an umbrella or blanket policy carried by Tenant. Such
umbrella or blanket policy shall contain an endorsement that names Landlord as
an additional insured, references the Premises, and provides for a minimum limit
available for the Premises equal to the insurance amounts required in the Lease.
15. LANDLORD'S INSURANCE COVERAGE
A. GENERAL. Landlord will at all times during the Lease Term
maintain a policy or policies of insurance insuring the Building against loss or
damage by fire, explosion or other hazards and contingencies typically covered
by insurance for an amount acceptable to the mortgagees encumbering the
Building. Landlord reserves the right, in its reasonable business judgement, to
self insure in lieu of maintaining such policies.
B. TENANT'S ACTS. Tenant will not do or permit anything to be
done upon or bring or keep or permit anything to be brought or kept upon the
Premises which will increase Landlord's rate of insurance on the Building. If by
reason of the failure of Tenant to comply with the terms of this Lease, or by
reason of Tenant's occupancy (even though permitted or contemplated by this
Lease), the
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BLUE LAKE STANDARD LEASE
insurance rate shall at any time be higher than it would otherwise be, Tenant
will reimburse Landlord for that part of all insurance premiums charged because
of such violation or occupancy by Tenant. Tenant agrees to comply with any
reasonable requests or recommendation made by Landlord's insurance underwriter
inspectors.
C. EXCLUSIONS. Tenant acknowledges that Landlord will not carry
insurance on tenant improvements, furniture, furnishings, trade fixtures,
equipment installed in or made to the Premises by or for Tenant, in accordance
with the Work Letter attached hereto, and Tenant agrees that Tenant, and not
Landlord, will be obligated to promptly repair any damage thereto or replace the
same.
16. WAIVER OF RIGHT OF RECOVERY
Except as otherwise provided in this Lease, neither Landlord nor Tenant shall be
liable to the other for any damage to any building, structure or other tangible
property, or any resulting loss of income, or losses under worker's compensation
laws and benefits, even though such loss or damage might have been occasioned by
the negligence of such party, its agents or employees. The provisions of this
Section shall not limit the indemnification for liability to third parties
pursuant to Section 19. As used in this Section 16.A., "damage" refers to any
loss, destruction or other damage.
17. DAMAGE OR DESTRUCTION BY CASUALTY
A. LANDLORD'S ABSOLUTE RIGHT TO TERMINATE. If by fire or other
casualty the Premises or the Building is damaged or destroyed to the extent of
Twenty Five (25%) Percent or more of the insured value thereof but in the
reasonable estimation of Landlord made within thirty (30) days of the fire or
casualty cannot be restored in less than two hundred ten (210) days from the
date of Landlord's notice, Landlord or Tenant will have the option of
terminating this Lease or any renewal thereof by serving written notice upon the
other within ninety (90) days from the date of the casualty and any prepaid Rent
or Additional Rent will be prorated as of the date of destruction and the
unearned portion of such Rent will be refunded to Tenant without interest. If
neither party elects to terminate, Landlord shall promptly commence to restore
and diligently and continuously complete within such two hundred and ten (210)
days.
B. QUALIFIED RIGHT TO TERMINATE. In addition to the foregoing, if
this Lease is not cancelled and the Landlord undertakes such reconstruction or
repair but does not complete the reconstruction or repair within two hundred ten
(210) days after the date of the fire or other casualty, then the Tenant shall
have the additional right to terminate this Lease by written notice to the
Landlord delivered within thirty (30) days after the expiration of such two
hundred ten (210) day period.
C. OBLIGATION TO RESTORE. If by fire or other casualty either the
Premises or the Building is destroyed or damaged, but only to the extent of less
than Twenty-Five (25%) Percent of the insured value of the Premises or the
Building (as applicable), and more than one (1) year remains in either the
initial Lease Term or Renewal Term, as applicable, then Landlord will restore
the Premises within ninety (90) days of the date of the fire or other casualty
subject to events of force majeure.
D. RENT ADJUSTMENTS. In the event of restoration by Landlord, all
Base Rent and Additional Rent paid in advance shall be apportioned as of the
date of damage or destruction and all such Base Rent and Additional Rent as
above described, thereafter accruing, shall be equitably and proportionally
adjusted according to the nature and extent of the destruction or damage,
pending substantial completion of rebuilding, restoration or repair. In the
event the destruction or damage is so extensive as to make it impossible for
Tenant to conduct Tenant's business in the Premises, Rent and Additional Rent
will be fully abated until the Premises are substantially restored by Landlord
or until Tenant resumes use and occupancy of the Premises, whichever shall first
occur. In lieu of abating Rent and Additional Rent, as provided above, Landlord
shall have the right to temporarily or permanently relocate Tenant to another
space reasonably acceptable to Tenant. Landlord will not be liable for any
damage, whether proximate or consequential, to, or any inconvenience or
interruption of the business of Tenant or Tenant's Agents, occasioned by fire or
other casualty except to the extent caused by the negligence or its willful
misconduct of the Landlord, its agents, employees or contractors.
E. QUALIFICATIONS. Notwithstanding the foregoing, Landlord's
obligation to restore exists (i) only if and/or to the extent, that the
insurance proceeds received by Landlord are sufficient to compensate Landlord
for its restoration costs and/or (ii) the area unaffected by the casualty may,
as determined by Landlord's reasonable business judgment, be restored as a
profitable, and self functioning unit.
18. CONDEMNATION AND EMINENT DOMAIN
A. ABSOLUTE RIGHT TO TERMINATE. If all or a material part of the
Premises or the Building or the parking spaces is taken for any public or
quasi-public use under any governmental law, ordinance or regulation or by right
of eminent domain or by purchase in lieu thereof, and the taking would prevent
or materially interfere with the use of the Premises for the purpose for which
they are then being used, this Lease will terminate and the Rent will be abated
during the unexpired portion of this Lease effective on the date physical
possession is taken by the condemning authority and any unearned portion of Rent
prepaid will be refunded to Tenant. Tenant will have no claim to the
condemnation award, other
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BLUE LAKE STANDARD LEASE
than as to its Tenant Improvements, trade fixtures, moving expenses, and other
out of pocket damages so long as such does not diminish the Landlord's award.
B. OBLIGATION TO RESTORE. In the event an immaterial part of the
Premises or the Building or the parking spaces is taken for any public or
quasi-public use under any governmental law, ordinance or regulation, or by
right of eminent domain or by purchase in lieu thereof, and this Lease is not
terminated as provided in subsection A above, then Landlord shall, subject to
the remaining provisions of this Section, at Landlord's expense, as soon as
reasonably practicable, restore the portion of the Premises (for which Landlord
receives the condemnation award pursuant hereto) and the Building to the extent
necessary to make them reasonably tenantable. The Rent payable under this Lease
during the unexpired portion of the Lease Term shall be adjusted to such an
extent as may be fair and reasonable under the circumstances. Tenant shall have
no claim to the condemnation award with respect to the leasehold estate but, in
a separate proceeding, may make a separate claim for trade fixtures and tenant
improvements installed in the Premises by and at the expense of Tenant and
Tenant's moving expense. In no event will Tenant have any claim for the value of
the unexpired Lease Term.
C. QUALIFICATIONS. Notwithstanding the foregoing, Landlord's
obligation to restore exists (i) only if and/or to the extent, that the
condemnation or similar award received by Landlord is sufficient to compensate
Landlord for its loss and its restoration costs and/or (ii) the area unaffected
by the condemnation or similar proceeding may, as determined by Landlord's
reasonable business judgment, be restored as a profitable, and self functioning
unit.
19. LIMITATION OF LANDLORD'S LIABILITY; INDEMNIFICATION
A. PERSONAL PROPERTY. All personal property placed or moved into
the Building will be at the sole risk of Tenant or other owner. Landlord will
not be liable to Tenant or others for any damage to person or property arising
from theft, vandalism, air-conditioning malfunction, the bursting or leaking of
water pipes, any act or omission of any cotenant or occupant of the Building or
of any other person, or otherwise, except to the extent caused by the negligence
or willful misconduct of the Landlord, its agents, employees or contractors.
B. LIMITATIONS. Notwithstanding any contrary provision of this
Lease: (i) Tenant will look solely (to the extent insurance coverage is not
applicable or available) to the interest of Landlord (or its successor as
Landlord hereunder) in the Building (including proceeds of sale, insurance and
condemnation) for the satisfaction of any judgment or other judicial process
requiring the payment of money as a result of any negligence or breach of this
Lease by Landlord or its successor or of Landlord's managing agent (including
any beneficial owners, partners, corporations and/or others affiliated or in any
way related to Landlord or such successor or managing agent) and Landlord has no
personal liability hereunder of any kind.
C. INDEMNITY. Tenant agrees to indemnify, defend and hold
harmless Landlord and its agents from and against all claims, causes of actions,
liabilities, judgments, damages, losses, costs and expenses, including
reasonable attorneys' fees and costs, including appellate proceedings and
bankruptcy proceedings, incurred or suffered by Landlord and arising from or in
any way connected with the Premises or the use thereof or any acts, omissions,
neglect or fault of Tenant or any of Tenant's Agents, including, but not limited
to, any breach of this Lease or any death, personal injury or property damage
occurring in or about the Premises or the Building or arising from Environmental
Concerns, as hereafter defined, except to the extent caused by the Landlord, its
agents, employees, or contractors. Tenant will reimburse Landlord upon request
for all costs incurred by Landlord in the interpretation and enforcement of any
provisions of this Lease and/or the collection of any sums due to Landlord under
this Lease, including collection of agency fees, and reasonable attorneys' fees
and costs, regardless of whether litigation is commenced, and through all
appellate actions and proceedings, including bankruptcy proceedings, if
litigation is commenced. The foregoing claims, causes of actions, liabilities,
judgments, damages, losses, costs and expenses shall include but not be limited
to any of same arising from Tenant's failure to comply with any of the
requirements of Americans with Disabilities Act ("ADA") or Florida Accessibility
Code ("FAC") within the Premises and/or any and all claims or liability arising
from the performance of the repair, renovation, and/or maintenance described
above. This indemnity shall include, but not be limited to, claims or
liabilities asserted against Landlord based upon negligence, strict liability or
other liability by operation of law to any third party or government entity, and
all costs, attorney's fees, expenses, and liabilities incurred by Landlord in
the defense of any such claim. Landlord shall defend any such claim at Tenant's
expense by counsel selected by Landlord. Tenant shall not alter, cut, drill,
penetrate, remove or damage any portion of the Premises in which Landlord has
identified to Tenant the presence or suspected presence of asbestos, without
Landlord's prior written consent. Tenant indemnifies Landlord from and against
any and all damages, liabilities, fines, costs and expenses, including without
limitation reasonable attorneys fees and costs, from Tenant's violation or
breach of this covenant.
20. RELOCATION OF TENANT
A. GENERAL. Recognizing that the Building is large and the needs
of tenants as to space may vary from time to time, and in order for Landlord to
accommodate Tenant and prospective tenants,
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BLUE LAKE STANDARD LEASE
Landlord expressly reserves the right, prior to and/or during the Lease Term, at
Landlord's sole expense, to move Tenant from the Premises and relocate Tenant in
other comparable space of Landlord's choosing of approximately the same
dimensions and at least the same size within the Building (or additions to the
Building or new construction related to the Building or the campus in which
Building is located), which other space will be decorated by Landlord at its
expense. Landlord shall, in exercising its right to relocate the Tenant, make
said decision in full consideration and deference to the nature of Tenant's
business which business operates (including Tenant's on-line computer network)
on a twenty-four (24) hour basis, seven (7) days per week. Landlord may use
decorations and materials from the existing Premises, or other materials, so
that the space in which Tenant is relocated will be comparable in its interior
design and decoration to the space from which Tenant is removed.
B. NO INTERFERENCE. During the relocation period Landlord will
use reasonable efforts not to unduly interfere with Tenant's business activities
(recognizing that such business operations may only be shut down for a de
minimus period of time during the relocation, and will not limit Tenant's access
to the Premises prior to such relocation. Landlord agrees to substantially
complete the relocation within a reasonable time under all then existing
circumstances.
C. PREMISES. This Lease and each of its terms and conditions will
remain in full force and effect and be applicable to any such new space and such
new space will be deemed to be the Premises demised hereunder; upon request
Tenant will execute such documents which may be requested to evidence,
acknowledge and confirm the relocation (but it will be effective even in the
absence of such confirmation).
D. COSTS. Landlord's obligation for expenses of removal and
relocation will be the actual cost of relocating and decorating Tenant's new
space, moving expenses, telephone and computer relocation and all other
reasonable costs arising directly from such relocation, and Tenant agrees that
Landlord's exercise of its election to remove and relocate Tenant will not
release Tenant in whole or in part from its obligations hereunder for the full
Lease Term. No rights granted in this Lease to Tenant, including the right of
peaceful possession and quiet enjoyment, will be deemed breached or interfered
with by reason of Landlord's exercise of the relocation right reserved herein.
E. NOTICE. If Landlord exercises its relocation right under this
paragraph, Tenant will be given ninety (90) days prior notice in writing.
21. COMPLIANCE WITH LAWS AND PROCEDURES
A. COMPLIANCE. Except as otherwise provided herein, Tenant, at
its sole cost, will promptly comply with all applicable laws, guidelines, rules,
regulations and requirements, whether of federal, state, or local origin,
applicable to the Premises, including, but not limited to, the Americans with
Disabilities Act, 42 U.S.C. ss. 12101 et seq, the FAC (as to the interior of the
Premises), and those for the correction, prevention and abatement of nuisance,
unsafe conditions, or other grievances arising from or pertaining to the use or
occupancy of the Premises. Tenant acknowledges that (i) the Premises and the
parking facilities may contain potentially hazardous substances, including, but
not limited to, asbestos containing materials, radon gas, mineral fibers, and
other like materials (all of such materials are referred to herein as
"Environmental Concerns") and (ii) Tenant has been advised that the Premises and
the Building do contain either encapsulated or non-friable asbestos containing
materials. Accordingly, Tenant agrees that Tenant and Tenant's Agents shall
comply with all operation and maintenance programs and guidelines implemented or
promulgated from time to time by Landlord or its consultants, including, but not
limited to, those matters set forth in subsections B and C below, in order to
reduce the risk to Tenant, Tenant's Agents or any other tenants of the Building
of injury from Environmental Concerns. Except as otherwise provided herein,
Tenant at its sole cost and expense shall be solely responsible for taking any
and all measures which are required to substantially comply with the
requirements of the ADA and the FAC within the Premises. Landlord shall be
responsible for causing compliance of the Building, other than the Premises,
with the requirements of the ADA and the FAC, the cost of such compliance being
an Operating Expense hereunder. Any Alterations to the Premises made by or on
behalf of Tenant for the purpose of complying with the ADA and FAC or which
otherwise require compliance with the ADA and FAC shall be done in accordance
with this Lease; provided, that Landlord's consent to such Alterations shall not
constitute either Landlord's assumption, in whole or in part, of Tenant's
responsibility for substantial compliance with the ADA and FAC, or
representation or confirmation by Landlord that such Alterations comply with the
provisions of the ADA and FAC. Notwithstanding the foregoing, Landlord shall be
solely responsible at its sole cost and expense, for making any changes or
improvements which are required pursuant to the terms of this Lease, to the
condition of the Premises delivered by Landlord to Tenant.
B. NOTICE PRIOR TO WORK. Except as provided in Section 11, Tenant
shall provide thirty (30) days notice to Landlord prior to the performance by
Tenant, Tenant's Agents or contractors of any repairs, renovation and/or major
structural or mechanical systems maintenance, to the Premises. Such notice shall
include a detailed description of the work contemplated. Tenant shall not
perform, or cause to be performed, any such repair, renovation and/or
maintenance without the written consent of Landlord, and, if such consent is
granted, the repair, renovation and/or maintenance must be performed in
accordance with the terms of Landlord's consent.
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BLUE LAKE STANDARD LEASE
22. RIGHT OF ENTRY
Landlord and its agents will have the right to enter the Premises
during all reasonable hours to make necessary repairs to the Premises upon
reasonable prior notice. In the event of an emergency, Landlord or its agents
may enter the Premises at any time, without notice (except that Landlord shall
make a good faith effort to contact Tenant's designated representative by
telephone prior to such entry), to appraise and correct the emergency condition.
Said right of entry will, after reasonable prior notice, likewise exist for the
purpose of removing placards, signs, fixtures, alterations, or additions which
do not conform to this Lease. Landlord or its agents will have the right to
exhibit the Premises at any time to prospective tenants within one hundred and
eighty days (180) before the Expiration Date of the Lease.
23. DEFAULT
A. EVENTS OF DEFAULT BY TENANT. The following shall, upon the
giving of notice to Tenant of the nature of the default and the expiration of
any applicable grace period afforded Tenant hereunder as set forth in Section
23.B. constitute an Event of Default under this Lease. If (1) Tenant fails to
make any payment of Rent when due (a "Monetary Default"); or (2) Tenant fails to
fulfill any of the terms or conditions, covenants, agreements or any rules and
regulations attached to this Lease, as Exhibit "C" or promulgated by Landlord
under this Lease which shall in all instances be reasonable and have as close to
equal application to all tenants of the Building as is practicable (a
"Non-Monetary Default"); or (3) the appointment of a trustee or a receiver to
take possession of all or substantially all of Tenant's assets occurs, and such
appointment is not dismissed within thirty (30) days after appointment, or if
the attachment, execution or other judicial seizure of all or substantially all
of Tenant's assets located at the Premises, or of Tenant's interest in this
Lease, occurs; or (4) Tenant or any of its successors or assigns or any
guarantor of this Lease ("Guarantor"), if any, should file any voluntary
petition in bankruptcy, reorganization or arrangement, or an assignment for the
benefit of creditors or for similar relief under any present or future statute,
law or regulation relating to relief of debtors; or (5) Tenant or any of its
successors or assigns or any Guarantor should be adjudicated bankrupt or have an
involuntary petition in bankruptcy, reorganization or arrangement filed against
it and such proceeding is not dismissed within thirty (30) days of filing; or
(6) Tenant, before the expiration of the Lease Term and without the prior
written consent of Landlord, vacates the Premises or abandons possession of the
Premises, and fails to pay Rent on a timely basis; or (7) Tenant shall permit,
allow or suffer to exist any lien by or through Tenant, judgment, writ,
assessment, charge, attachment or execution upon Landlord's or Tenant's interest
in this Lease or to the Premises, and/or the fixtures, improvements and
furnishings located thereon, whether claimant or holder thereof has acquired its
right by or through Tenant, unless such lien, judgment, writ, assessment,
charge, attachment or execution is discharged of record or transferred from the
Property by bond within ten (10) days following notice to Tenant.
▇. ▇▇▇▇▇ PERIOD. Notwithstanding anything contained in this Lease
to the contrary, Tenant shall have (i) a period of three (3) calendar days after
written notice from Landlord of a Monetary Default with respect to payment of
Base Rent or Overhead Rent; (ii) a period of ten (10) days after notice from
Landlord of a Monetary Default , other than as to payment of Base Rent or
Overhead Rent; and (iii) a period of twenty (20) days after notice from Landlord
of a Non-Monetary Default in which to cure the Event of Default. In addition,
provided that the Event of Default does not involve an emergency that must be
addressed in a shorter time frame, the grace period for Non-Monetary Defaults
shall be extended for such time as is reasonably necessary to complete such cure
if the Event of Default is of a nature that it cannot be completely cured within
the twenty (20) day period solely as a result of nonfinancial circumstances
outside of Tenant's control, provided that Tenant has promptly commenced all
appropriate actions to cure the default after notice and those actions are
thereafter diligently and continuously pursued by Tenant in good faith. However,
if the Non-Monetary Default is not cured prior to a maximum of ninety (90) days
from the date of the notice of the Non-Monetary Default, then Landlord may
pursue all of its remedies. The notice of a Non-Monetary Default to be given
under this subsection may be combined with the notice required under Section
83.20(3), Florida Statutes or any successor statute and this Lease shall not be
construed to require Landlord to give two separate notices to Tenant before
proceeding with any remedies.
C. REPEATED LATE PAYMENT. Regardless of the number of times of
Landlord's prior acceptance of late payments and/or late charges, (i) if
Landlord notifies Tenant four (4) times in any 12-month period that Rent has not
been paid when due, then any other late payment within such 12-month period
shall automatically constitute an event of default hereunder and (ii) the mere
acceptance by Landlord of late payments of Rent in the past shall not,
regardless of any applicable laws to the contrary, thereafter be deemed to waive
Landlord's right to strictly enforce this Lease, including Tenant's obligation
to make payment of Rent on the exact day same is due, against Tenant.
24. LANDLORD'S REMEDIES FOR TENANT'S DEFAULT
A. LANDLORD'S OPTIONS. Upon an Event of Default by Tenant under
this Lease, Landlord may, at its option exercise any of the remedies enumerated
below, in addition to such other remedies as may be available under Florida law:
(1) terminate this Lease and Tenant's right of possession
by notice to Tenant; or
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BLUE LAKE STANDARD LEASE
(2) terminate Tenant's right to possession but not the
Lease and/or proceed in accordance with any and all provisions of paragraph B
below.
B. LANDLORD'S REMEDIES. If there is an Event of Default by Tenant
under this Lease (subject to applicable notice and cure periods), in addition to
all other remedies available to Landlord at law or in equity, Landlord may:
(1) Terminate this Lease by notice to Tenant and retake
possession of the Premises;
(a) Terminate Tenant's right of possession by
notice to Tenant without terminating this Lease and retaking possession of the
Premises and relet the Premises or any part of the Premises in the name of
Landlord, or otherwise, as Tenant's agent, for a term shorter or longer than the
balance of the Lease Term, and may grant concessions or free rent to the new
tenant, thereby terminating Tenant's tenancy in the Premises and right to
possess the Premises, without terminating Tenant's obligations to pay (a) the
entire balance of all forms of Base Rent and Additional Rent for the remainder
of the Lease Term, plus (b) the Reletting Expenses, and (c) the unamortized
balance of any brokerage commissions paid by Landlord in connection with this
Lease, any allowances granted to Tenant under this Lease, and the cost of any
Tenant Improvements made by Landlord. Landlord shall have no obligation to relet
the Premises, and its failure to do so, or failure to collect rent on reletting,
shall not affect Tenant's liability under this Lease. Landlord shall not, in any
event, be required to pay Tenant any surplus of any sums received by Landlord on
a reletting of the Premises in excess of the rent provided in this Lease. If
Landlord decides to relet the Premises or a duty to relet is imposed by law,
Landlord shall only be required to use commercially reasonable efforts to relet
the Premises. Commercially reasonable efforts shall not require Landlord to: (i)
use any greater efforts than Landlord then uses to lease other properties
Landlord or its affiliates owns or manages; (ii) relet the Premises in
preference to any other space in the Building; (iii) relet the Premises to any
party that Landlord could reasonably reject as a transferee under the Assignment
or Subletting section of this Lease; (iv) accept rent in an amount which is less
than the fair market rental for the Premises; (v) perform any tenant
improvements, grant any tenant improvement allowances, grant any "free rent," or
otherwise pay any sums or grant any monetary concessions in order to obtain a
new tenant; (vi) observe any instruction given by Tenant about the reletting
process or accept any tenant offered by Tenant unless the offered tenant leases
the entire Premises and the criteria of this subsection are otherwise fully met.
Any entry or reentry by Landlord, whether had or taken under summary proceedings
or otherwise, shall not absolve or discharge Tenant from liability under this
Lease so long as Landlord's actions are not in violation of applicable laws.
"Reenter" and "re-entry" as used in this Lease are not restricted to their
technical legal meaning. No reentry or taking possession of the Premises by
Landlord shall be construed as an election on Landlord's part to accept a
surrender of the Premises unless a notice of such intention is given to Tenant;
(2) Stand by and do nothing, and hold Tenant liable
for all Base Rent and additional rent payable under this Lease through the
remainder of the Lease Term;
(3) Institute any action as provided by law;
(4) Obtain injunctive and declaratory relief,
temporary or permanent, or both, against Tenant or any acts, conduct or
omissions of Tenant, and further to obtain specific performance of any term,
covenant, or condition of this Lease;
(5) After regaining possession of the Premises,
remove all or any part of Tenant's Property from the Premises and any property
removed may be stored at the cost of, and for the account of, Tenant, and
Landlord shall not be responsible for the care or safekeeping of Tenant's
Property whether in transport, storage, or otherwise, and Tenant waives any and
all claims against Landlord for loss, destruction, damage or injury that may be
occasioned by any acts taken by Landlord under this subsection. Landlord may
retain possession of Tenant's Property until all storage charges and all other
amounts owed by Tenant to Landlord under this Section 23 have been paid in full.
Nothing set forth in this subsection shall limit Landlord's rights to enforce
any lien or security interest in favor of Landlord against Tenant's Property or
Landlord's rights under the End of Term section of this Lease; and
(6) If all or any part of the Premises is then
assigned, sublet, transferred, or occupied by someone other than Tenant,
Landlord, at its option, may collect directly from the assignee, subtenant,
transferee, or occupant all rent becoming due to Tenant by reason of the
assignment, sublease, transfer, or occupancy. Any collection directly by
Landlord from the assignee, subtenant, transferee, or occupant shall not be
construed to constitute a novation or a release of Tenant from the further
performance of its obligations under this Lease.
C. ACCELERATION. If Landlord exercises the remedies provided in
Subsections (2), (3) or (4) above, Landlord may declare the entire balance of
all forms of Rent due under this Lease for the remainder of the Lease Term to be
forthwith due and payable and may collect the then present value of the rents
(calculated using a discount rate equal to the yield then obtainable from the
United States Treasury ▇▇▇▇ or Note with a maturity date closest to the date of
expiration of the Lease Term) by distress or otherwise, provided, however that
Landlord shall
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BLUE LAKE STANDARD LEASE
utilize commercially reasonable attempts to mitigate its damages. The
accelerated additional rent for expenses shall be calculated by multiplying the
highest additional rent amount for Expenses payable by Tenant in any calendar
year times the number of calendar years (including any fractional calendar year)
remaining in the Lease Term following the date of default. If Landlord exercises
the remedy provided in Subsection (2) above and collects from Tenant all forms
of rent owed for the remainder of the Lease Term, Landlord shall account to
Tenant, at the date of the expiration of the Lease Term for amounts actually
collected by Landlord as a result of reletting, net of the Tenant's obligations
under Subsections 24 B. 2(a)-(c).
D. GUARANTY. In addition to the remedies of the Landlord
contained in this Section 24, a separate action or actions may, at Landlord's
option, be brought and prosecuted against the Guarantor, if any, whether or not
any action is first or subsequently brought against Tenant or whether or not
Tenant is joined in any such action. The Landlord may, at its sole option,
proceed against the Tenant without first seeking recourse against the Guarantor
and may pursue any other remedy in Landlord's power whatsoever and the Tenant
waives any right to complain of delay in enforcement of Landlord's rights under
this Lease.
E. Notwithstanding the foregoing or anything to the contrary
contained in this Lease, any and all rights and remedies of Landlord and Tenant
set for forth in this Lease shall be exercisable only to the extent permitted by
Florida law at the time of exercise. Any waivers by Tenant of damages or
liability shall be applicable only to the extent Landlord's actions are in
material accordance with applicable law and only to the extent that Landlord or
its agents, employees or contractors are not negligent or willfully at fault.
F. Landlord shall not be deemed to be in default of this Lease
unless and until Landlord fails to cure any default within thirty (30) days
after written notice from Tenant; provided, however, that if such default
reasonably requires more than thirty (30) days to cure, Landlord shall have a
reasonable time to cure such default, provided Landlord commences to cure within
such thirty (30) day period and thereafter diligently prosecutes such cure to
completion. In the event of an uncured default by Landlord, Tenant shall have
the right to exercise any available legal and equitable remedies.
25. LANDLORD'S RIGHT TO PERFORM FOR TENANT'S ACCOUNT.
Should Tenant fail to observe or perform any term or condition of
this Lease within a provided grace period following notice, Landlord may at any
time thereafter, perform the same for the account of Tenant in a commercially
reasonable manner. If Landlord makes any expenditure or incurs any obligation
for the payment of money in connection with such performance for Tenant's
account (including reasonable attorneys' fees and costs in instituting,
prosecuting and/or defending any action or proceeding through appeal), the sums
paid or obligations incurred, with interest at Twelve Percent (12%) per annum,
will be paid by Tenant to Landlord within ten (10) days after rendition of a
▇▇▇▇ or statement to Tenant. In the event Tenant, in the performance or
non-performance of any term or condition of this Lease, should cause an
emergency situation to occur or arise within the Premises or in the Building,
Landlord will have all rights set forth in this paragraph immediately without
the necessity of providing Tenant any advance notice.
26. LIENS
A. GENERAL. In accordance with the applicable provisions of the
Florida Construction Lien Law and specifically Florida Statutes, Section 713.10,
no interest of Landlord whether personally or in the Premises, or in the
underlying land or Building of which the Premises are a part, or the leasehold
interest aforesaid shall be subject to liens for improvements made by Tenant or
caused to be made by Tenant hereunder. Further, Tenant shall have no power or
authority to create any lien or permit any lien to attach to the present estate,
reversion, or other estate of Landlord in the Premises or in the Building, and
all mechanics, materialmen, contractors, artisans and other parties contracting
with Tenant or its representatives or privies as to the Premises or any part of
the Premises are hereby charged with notice that they must look to the Tenant to
secure payment of any ▇▇▇▇ for work done or material furnished or for any other
purpose during this Lease term. The foregoing provisions are made with express
reference to Section 713.10 of the Florida Statutes. Notwithstanding the
foregoing provisions, Tenant, at its expense, shall cause any liens filed
against the Premises or the Building for work or materials claimed to have been
furnished to Tenant to be discharged of record or properly transferred to a bond
under Section 713.24 of the Florida Statutes within ten (10) days after notice
to Tenant. Landlord has recorded a notice of the foregoing in the Public Records
of Palm Beach County, Florida, pursuant to the provisions of Section 713.10
Florida Statutes.
B. DEFAULT. Notwithstanding the foregoing, if any construction
lien or other lien, attachment, judgment, execution, writ, charge or encumbrance
is filed against the Building or the Premises or this leasehold, or any
alterations, fixtures or improvements therein or thereto, as a result of any
work action or inaction done by or at the direction of Tenant or any of Tenant's
Agents, Tenant will discharge same of record within ten (10) days after the
filing thereof and written notice from either Landlord or the lienor, failing
which Tenant will be in default under this Lease. Further, Tenant agrees to
indemnify, defend and save Landlord harmless from and against any damage or
loss, including reasonable attorneys' fees, incurred by Landlord as a result of
any liens or other claims arising out of or related to work performed in the
Premises by or on behalf of Tenant. In such event, without waiving
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BLUE LAKE STANDARD LEASE
Tenant's default, Landlord, in addition to all other available rights and
remedies, without further notice, may discharge the same of record by payment,
bonding or otherwise, as Landlord may elect, and upon request Tenant will
reimburse Landlord for all costs and expenses so incurred by Landlord plus
interest thereon at the rate of eighteen percent (18%) per annum.
27. NOTICES
Notices to Tenant under this Lease will be in writing (unless
otherwise specifically provided herein) addressed to Tenant and mailed or
delivered to the address set forth for Tenant in the BLI Rider. Notices to
Landlord under this Lease (as well as the required copies thereof) will be in
writing and addressed to Landlord (and its agents) and mailed or delivered to
the address set forth in the BLI Rider. Notices will be personally delivered or
given by registered or certified mail, return receipt requested. As used herein,
personal delivery includes delivery by overnight courier. Notices delivered
personally will be deemed to have been given as of the date of delivery and
notices given by mail will be deemed to have been given forty-eight (48) hours
after the time said properly addressed notice is placed in the mail. Each party
may change its address from time to time by written notice given to the other as
specified above.
28. MORTGAGE ESTOPPEL CERTIFICATE; SUBORDINATION
Landlord has the unrestricted right to convey, mortgage and
refinance the Building, or any part thereof. Tenant and Landlord agree, within
ten (10) days after notice but not more than twice in any calendar year, to
execute and deliver to the other or its mortgagee or designee such instruments
as the other or its mortgagee may reasonably require, certifying (i) whether
this Lease is in full force and effect (or if there shall have been any
modification, that the Lease is in full force and effect as modified and stating
the modification, (ii) the amount of any prepaid rent paid under this Lease,
(iii) the dates to which the rents and other charges have been paid, (iv)
whether or not Tenant claims any defenses or offsets concerning its obligations
under this Lease and whether or not the other is in default in the performance
of any covenant, agreement, or condition contained in this Lease on its part to
be performed, and if so, specify each defense, offset or default of which the
party may have knowledge, and (v) such other matters as may be reasonably
required by institutional lenders or purchasers in similar estoppel
certificates. Nothing contained in this Section shall constitute a waiver by
Landlord of any default in payment of rent or other charges existing as of the
date of any notices or certificates under this Section. Subject to the
provisions hereof, this Lease is and at all times will be subject and
subordinate to all present and future mortgages or ground leases which may
affect the Building and/or the parking lot, and to all recastings, renewals,
modifications, consolidations, replacements, and extensions of any such
mortgage(s), and to all increases and voluntary and involuntary advances made
thereunder. The foregoing will be self-operative and no further instrument of
subordination will be required. However, in confirmation of this subordination,
Tenant shall execute promptly any certificate that Landlord may request provided
that, without limiting Landlord's right of specific performance and right to
injunctive relief, the Tenant's failure to do so shall constitute an Event of
Default under the Lease. In the event that the holder ("Lender") of any
encumbrance ("Mortgage") on the Building or any other person acquires title to
the Building pursuant to the exercise of any remedy provided for in the Mortgage
or by reason of the acceptance of a deed in lieu of foreclosure (the Lender, any
other such person and their participants, successors and assigns being referred
to herein as the "Purchaser"), Tenant covenants and agrees to attorn to and
recognize and be bound to Purchaser as its new Landlord, and except as provided
below, this Lease shall continue in full force and effect as a direct Lease
between Tenant and Purchaser, except that, notwithstanding anything to the
contrary herein or in the Lease. It is an express condition of the subordination
of this Lease set forth herein, that so long as Tenant is not in material
default under any provision of this Lease beyond any applicable notice or cure
period, and no event has occurred that has continued to exist for a period of
time (after notice, if any, required by this Lease) as would entitle Landlord to
terminate this Lease or would cause without further action by Landlord, the
termination of this Lease or would entitle Landlord to dispossess the Tenant
thereunder:
A. The right of possession of Tenant to the Premises and Tenant's
rights hereunder shall not be terminated or disturbed by any steps or
proceedings taken by Lender or anyone claiming by or through Lender in the
exercise of any of its rights under the Mortgage or the indebtedness secured
thereby;
B. This Lease shall not be terminated or affected and Tenant's
possession, use, and enjoyment of the Premises shall not be disturbed by said
exercise of any remedy provided for in the Mortgage, and any sale by Lender of
the Building pursuant to the exercise of any rights and remedies under the
Mortgage or otherwise, shall be made subject to this Lease and the rights of
Tenant hereunder.
C. In no event shall Lender or any other Purchaser be:
(1) liable for any act or omission of Landlord or any
prior landlord (except to the extent such continue without cure after
acquisition of the Building by the Lender and such may be cured by Lender with
its reasonable efforts;
(2) subject to any offsets or defenses that the Tenant
might have against Landlord or any prior landlord;
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BLUE LAKE STANDARD LEASE
(3) bound by any payment or rent or additional rent that
Tenant might have paid to Landlord or any prior landlord for more than the
current month unless the same is delivered to the Lender or the Purchaser; or
(4) bound by any material amendment or modifications of
the Lease made without Lender's or such other Purchaser's prior written consent,
which shall not be unreasonably withheld or delayed.
D. Provided that Landlord has previously notified Tenant of
Lender's address for notice, Tenant agrees to give written notice to Lender as
soon as reasonably practicable of any default by Landlord that would entitle
Tenant to cancel this Lease, and agrees that notwithstanding any provision of
this Lease, no notice of cancellation thereof given on behalf of Tenant shall be
effective unless Lender has received said notice and has failed within 30 days
of the date of receipt thereof to cure Landlord's default, or if the default
cannot be cured within 30 days, has failed to promptly commence and to
diligently pursue the cure of Landlord's default which gave rise to such right
of cancellation. Tenant further agrees to give such notices to any successor of
Lender, provided that such successor shall have given written notice of Tenant
of its acquisition of Lender's interest in the Mortgage and designated the
address to which such notices are to be sent.
E. Tenant acknowledges that Landlord may execute and deliver to
Lender an Assignment of Leases and Rents conveying the rentals under this Lease
as additional security for the loan secured by the Mortgage, and Tenant hereby
expressly consents to such Assignment.
F. Within ten (10) days after the execution of this Lease, and as
a condition to the effectiveness of this Lease, Landlord shall obtain, for the
benefit of Tenant, a Subordination, Non-disturbance and Attornment Agreement
from each and every Lender as of the date of this Lease, such Subordination,
Non-Disturbance and Attornment Agreement to be in form substantially similar to
that attached hereto as Exhibit "J". Landlord represents and warrants to Tenants
that, as of the date of this Lease, it is the fee simple owner of the Building,
and that, as of the date hereof, there are no (i) ground leases of all or any
part of Landlord's interest in the Building, or (ii) mortgages with respect to
the Building, other than with Lenders providing such Subordination,
Non-Disturbance and Attornment Agreements to Tenant.
G. Notwithstanding anything to the contrary contained in this
Lease, after the date of this Lease, any subordination of this Lease to a
mortgage or any ground lease shall be conditioned on Tenant obtaining a
Subordination, Non-Disturbance and Attornment Agreement from the applicable
Lender and ground lessor, such Subordination, Non-Disturbance and Attornment
Agreement in a form substantially similar to that attached hereto as Exhibit
"J".
29. ATTORNMENT AND MORTGAGEE'S REQUEST
A. ATTORNMENT. Subject to the provisions of Section 28, if any
mortgagee of the Building comes into possession or ownership of the Premises, or
acquires Landlord's interest by foreclosure of the mortgage or otherwise, upon
the mortgagee's request Tenant will attorn to the mortgagee.
30. TRANSFER BY LANDLORD
If Landlord's interest in the Building terminates by reason of a
bona fide sale or other transfer, Landlord will, upon assumption by the new
owner of the Landlord's obligations hereunder from and after the date of
transfer, thereupon be released from all further liability to Tenant under this
Lease. At the expiration or termination of the Lease Term, Tenant shall deliver
to Landlord all keys to the Premises and make known to Landlord the location and
combination of all safes, locks and similar items.
31. SURRENDER OF PREMISES; HOLDING OVER
A. SURRENDER. Tenant agrees to surrender the Premises to Landlord
on the Expiration Date (or sooner termination of the Lease Term pursuant to
other applicable provisions hereof) in as good condition as they were at the
commencement of Tenant's occupancy, ordinary wear and tear, and damage by fire
and windstorm excepted.
B. RESTORATION. In all events, Tenant will promptly restore all
damage caused in connection with any removal of Tenant's personal property.
Tenant will pay to Landlord, upon request, all damages that Landlord may suffer
on account of Tenant's failure to surrender possession as and when aforesaid and
will indemnify Landlord against all liabilities, costs and expenses (including
all reasonable attorneys' fees and costs if any) arising out of Tenant's delay
in so delivering possession, including claims of any succeeding tenant.
C. REMOVAL. Upon expiration of the Lease Term, at Landlord's
option, Tenant may not be required to remove from the Premises, Building
Standard Items (as defined in the Work Letter), all of such Building Standard
Items are the property of Landlord or tenant improvements installed prior to the
Rent Commencement Date unless Landlord shall require such removal during the
review and approval of the plans and specifications as provided in the Work
Letter.
D. HOLDOVER. In the event of a holding-over by Tenant, after the
expiration of the Lease or the early termination of the Lease without the
written consent of Landlord, Tenant shall, in
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BLUE LAKE STANDARD LEASE
addition to being responsible for any liquidated damages provided by Florida
statute, also indemnify Landlord against all claims for damages by any other
tenant to whom Landlord may have leased all or any part of the Premises covered
hereby effective after the termination of this Lease so long as Landlord has
previously provided Tenant notice of such lease. No payments of money by Tenant
after the expiration of the Lease Term of the earlier termination of this Lease
will reinstate, continue or extend the Term; reduce the liability of Tenant to
Landlord for damages; or affect any termination notice given by Landlord to
Tenant. No extension of the Lease Term will be valid unless and until the same
will be reduced to writing and signed by both Landlord and Tenant.
E. NO SURRENDER. No offer of surrender of the Premises, by
delivery to Landlord or its agent of keys to the Premises or otherwise, will be
binding on Landlord unless accepted by Landlord, in writing, specifying the
effective surrender of the Premises. At the expiration or termination of the
Lease Term, Tenant shall deliver to Landlord all keys to the Premises and make
known to Landlord the location and combinations of all locks, safes and similar
items.
32. NO WAIVER, CUMULATIVE REMEDIES
A. NO WAIVER. No waiver of any provision of this Lease by either
party will be deemed to imply or constitute a further waiver by such party of
the same or any other provision hereof. The rights and remedies of Landlord and
Tenant under this Lease or otherwise are cumulative and are not intended to be
exclusive and the use of one will not be taken to exclude or waive the use of
another, and Landlord and Tenant will be entitled to pursue all rights and
remedies available under the laws of the State of Florida.
B. RENT PAYMENTS. No receipt of money by Landlord from Tenant at
any time, or any act, or thing done by, Landlord or its agent shall be deemed a
release of Tenant from any liability whatsoever to pay Rent, Additional Rent, or
any other sums due hereunder, unless such release is in writing, subscribed by a
duly authorized officer or agent of Landlord and refers expressly to this
Section. Any payment by Tenant or receipt by Landlord of less than the entire
amount due at such time shall be deemed to be on account of the earliest sum
due. No endorsement or statement on any check or any letter accompanying any
check or payment shall be deemed an accord and satisfaction. In the case of such
a partial payment or endorsement, Landlord may accept such payment, check or
letter without prejudice to its right to collect all remaining sums due and
pursue all of its remedies under the Lease.
33. WAIVER
LANDLORD AND TENANT HEREBY WAIVE TRIAL BY JURY IN ANY ACTION,
PROCEEDING, OR COUNTERCLAIM INVOLVING ANY MATTER WHATSOEVER ARISING OUT OF OR IN
CONNECTION WITH (i) THIS LEASE, (ii) THE PREMISES, (iii) TENANT'S USE OR
OCCUPANCY OF THE PREMISES, OR (iv) THE RIGHT TO ANY STATUTORY RELIEF OR REMEDY.
TENANT FURTHER WAIVES THE RIGHT TO INTERPOSE ANY PERMISSIVE COUNTERCLAIM OF ANY
NATURE IN ANY ACTION OR PROCEEDING COMMENCED BY LANDLORD TO OBTAIN POSSESSION OF
THE PREMISES. IF TENANT VIOLATES THIS PROVISION BY FILING A PERMISSIVE
COUNTERCLAIM, WITHOUT PREJUDICE TO LANDLORD'S RIGHT TO HAVE SUCH COUNTERCLAIM
DISMISSED, THE PARTIES STIPULATE THAT SHOULD THE COURT PERMIT TENANT TO MAINTAIN
THE COUNTERCLAIM, THE COUNTERCLAIM SHALL BE SEVERED AND TRIED SEPARATELY FROM
THE ACTION FOR POSSESSION PURSUANT TO RULE 1.270(b) OF THE FLORIDA RULES OF
CIVIL PROCEDURE OR OTHER SUMMARY PROCEDURES SET FORTH IN SECTION 51.011, FLORIDA
STATUTES (1993). THE WAIVERS SET FORTH IN THIS SECTION ARE MADE KNOWINGLY,
INTENTIONALLY, AND VOLUNTARILY BY TENANT. TENANT FURTHER ACKNOWLEDGES THAT IT
HAS BEEN REPRESENTED IN THE MAKING OF THIS WAIVER BY INDEPENDENT COUNSEL,
SELECTED OF ITS OWN FREE WILL, AND THAT IT HAS HAD THE OPPORTUNITY TO DISCUSS
THESE WAIVERS WITH COUNSEL. THIS PROVISION IS A MATERIAL INDUCEMENT TO LANDLORD
IN AGREEING TO ENTER INTO THIS LEASE.
34. CONSENTS AND APPROVALS
[Intentionally Omitted]
35. RULES AND REGULATIONS
Tenant agrees to abide by all rules and regulations attached
hereto as Exhibit "C" and incorporated herein by this reference, as reasonably
amended and supplemented from time to time by Landlord. Landlord will not be
liable to Tenant for violation of the same or any other act or omission by any
other tenant except to the extent the same materially affects Tenant's use and
enjoyment of the Premises as provided in this Lease. All rules and regulations
shall, to the extent reasonably practicable, be uniformly applicable to all
tenants and occupants and shall not interfere with Tenant's use of the Premises
in any material manner. In the event of a conflict between the rules and
regulations and the provisions of this Lease, the provisions of this Lease shall
prevail.
36. SUCCESSORS AND ASSIGNS
This Lease will be binding upon and inure to the benefit of the
respective heirs, personal and legal representatives, successors and permitted
assigns of the parties hereto.
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BLUE LAKE STANDARD LEASE
37. QUIET ENJOYMENT
In accordance with and subject to the terms and provisions of
this Lease, Landlord warrants that it has full right to execute and to perform
under this Lease and to grant the estate demised. Tenant, upon Tenant's payment
of Rent and performing of all of the terms, conditions, covenants, and
agreements as and when required in this Lease, shall peaceably and quietly have,
hold and enjoy the Premises during the full Lease Term.
38. ENTIRE AGREEMENT
This Lease, together with the BLI Rider, exhibits, schedules,
addenda and guaranties (as the case may be) fully incorporated into this Lease
by this reference, contains the entire agreement between the parties hereto
regarding the subject matters referenced herein and supersedes all prior oral
and written agreements between them regarding such matters. This Lease may be
modified only by an agreement in writing dated and signed by Landlord and Tenant
after the date hereof.
39. HAZARDOUS MATERIALS
A. REPRESENTATION. Tenant represents, warrants and covenants that
(1) the Premises will not be used for any dangerous, noxious or offensive trade
or business and that it will not cause or maintain a nuisance there, (2) it will
not bring, generate, treat, store, use or dispose of Hazardous Substances at the
Premises other than use in the ordinary course of business and in compliance
with all applicable laws, (3) it shall, with respect to Tenant's use and
occupancy of the Premises, the parking lot and any other area of the Building,
as applicable, at all times comply with all Environmental Laws (as hereinafter
defined) and shall cause the Premises, while in the possession and control of
Tenant to comply, and (4) Tenant will keep the Premises free of any lien imposed
pursuant to any Environmental Laws. Only for purposes of this paragraph entitled
"Representation", the term "Premises" shall mean, only with respect to Tenant's
use and occupancy of the Premises, the Building including Common Areas, parking
areas, greenspace and all other elements thereof.
B. REPORTING REQUIREMENTS. Tenant warrants that it will promptly
deliver to the Landlord, (i) copies of any documents received from the United
States Environmental Protection Agency and/or any state, county or municipal
environmental or health agency concerning the Tenant's operations upon the
Premises; and (ii) copies of any documents submitted by the Tenant to the United
States Environmental Protection Agency and/or any state, county or municipal
environmental or health agency concerning its operations on the Premises,
including but not limited to copies of permits, licenses, annual filings,
registration forms.
C. TERMINATION, CANCELLATION, SURRENDER. At the Expiration Date
or earlier termination of this Lease, Tenant shall surrender the Premises to
Landlord free of any and all Hazardous Substances which have been placed on, in
or about the Premises by Tenant or Tenant's agents, and in compliance with all
Environmental Laws. Landlord may at Landlord's expense at the end of the term,
order a clean-site certification, environmental audit or site assessment with
respect to the Premises the cost of which shall be reimbursed by Tenant to
Landlord in the event such environmental audit reflects a violation of this
Section 39 by Tenant.
D. ACCESS AND INSPECTION. Landlord shall have the right, subject
to not materially disturbing Tenant's peaceful use and occupancy of the Premises
and the Common Areas and subject to reasonable advance notice, except in the
instance of emergencies, but not the obligation, at all times during the term of
this Lease to (i) enter upon and inspect the Premises, (ii) conduct tests and
investigations and take samples to determine whether Tenant is in compliance
with the provisions of this article, and (iii) request lists of all Hazardous
Substances used, stored or located on the Premises; the cost of all such
inspections, tests and investigations to be borne by Landlord, unless, however,
said inspections, tests and investigations reflect a violation of Environmental
Laws by Tenant in which instance the Tenant shall promptly either pay or
reimburse Landlord for all inspections, tests and investigations. Promptly upon
the written request of Landlord, from time to time, if Landlord shall reasonably
suspect a violation of Environmental Laws, Landlord may obtain an environmental
site assessment or environmental audit report prepared by an environmental
engineering firm acceptable to Landlord to assess, with a reasonable degree of
certainty, the presence or absence of any Hazardous Substances and the potential
costs in connection with abatement, clean-up, or removal of any Hazardous
Substances found on, under, at, or without the Premises. If such audit reveals a
violation of Environmental Laws caused by Tenant or Tenant's agents, or the
presence of Hazardous Substances not in the Premises upon delivery of possession
to Tenant, and such was not caused by Landlord or its agents, the Tenant shall
pay the cost of such audit. Tenant will reasonably cooperate with Landlord, at
no cost or expense to Tenant, and allow Landlord and Landlord's representatives
access, upon ten (10) days notice (except in the case of an emergency), to any
and all parts of the Premises and to the records of Tenant with respect to the
Premises for environmental inspection purposes at any time. In connection
therewith, Tenant hereby agrees that Landlord, or Landlord's agent, may perform
any testing upon or of the Premises that Landlord's deems reasonably necessary
for the evaluation of environmental risks, costs, or procedures, including soils
or other sampling or coring. Landlord shall repair and restore the Premises
damaged during such testing unless testing reveals a violation by Tenant of
Environmental Laws in which case all such expenses
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BLUE LAKE STANDARD LEASE
shall be that of Tenant. Landlord shall use reasonable effort to minimize any
disruption or interference with Tenant's operations in the Premises in
connection with such inspection and/or testing.
E. VIOLATIONS - ENVIRONMENTAL DEFAULTS. Tenant shall give to
Landlord immediate verbal and follow-up written notice of any actual or
threatened spills, releases or discharges of Hazardous Substances on the
Premises, caused by the acts or omissions of Tenant or its agents, employees,
representatives, invitees, licensees, subtenants, customers or contractors.
Tenant covenants to promptly investigate, clean up and otherwise remediate any
spill, release or discharge of Hazardous Substances in or about the Premises or
the Building, including but not limited to those caused by the acts or omissions
of Tenant or its agents, employees, representatives, invitees, licensees,
subtenants, customers or contractors at Tenant's sole cost and expense; such
investigation, clean up and remediation to be performed in accordance with all
Environmental Laws and after Tenant has obtained Landlord's written consent,
which shall not be unreasonably withheld or delayed. Tenant shall return the
Premises to the condition existing prior to the introduction of any such
Hazardous Substances by Tenant or Tenant's agents.
(1) In the event of (1) a violation of an Environmental
Law by Tenant, (2) a release, spill or discharge of a Hazardous Substance on or
from the Premises, or (3) the discovery of an environmental condition requiring
response which violation, release, or condition is attributable to the acts or
omissions of Tenant, its agents, employees, representatives, invitees,
licensees, subtenants, customers, or contractors, or (4) an emergency
environmental condition which is the result of an act of Tenant (collectively
"Environmental Defaults"), Landlord shall have the right, but not the
obligation, within ten (10) business days after notice to Tenant, except in the
case of an emergency which requires more prompt action, to enter the Premises,
to supervise and approve any actions taken by Tenant to address the
Environmental Default; and in the event Tenant fails to immediately address such
Environmental Default, then Landlord may perform, at Tenant's expense, any
lawful actions necessary to address the Environmental Default.
(2) Landlord has the right,
but not the obligation to cure any Environmental Defaults, has the reasonable
right to suspend some or all of the operations to the extent that the operations
have caused the Environmental Default of the Tenant until it has determined to
its sole satisfaction that appropriate measures have been taken, and has the
right to terminate this Lease upon the occurrence of an Environmental Default.
F. ADDITIONAL RENT. Any expenses which the Landlord incurs, which
are to be at Tenant's expense pursuant to this Article, will be considered
Additional Rent under this Lease and shall be paid by Tenant on demand by
Landlord.
G. ASSIGNMENT AND SUBLETTING. Notwithstanding anything to the
contrary in this Lease, the Landlord may condition its approval of any
assignment or subletting by Tenant to an Assignee or Subtenant that in the
judgment of the Landlord, reasonably exercised, does not create any additional
environmental exposure.
H. INDEMNIFICATIONS.
(1) INDEMNIFICATION OF LANDLORD. Tenant shall indemnify,
defend (with counsel approved by Landlord) and hold Landlord and Landlord's
affiliates, shareholders, directors, officers, employees and agents harmless
from and against any and all claims, judgments, damages (including consequential
damages), penalties, fines, liabilities, losses, suits, administrative
proceedings, costs and expenses of any kind or nature which arise out of or in
anyway related to any Environmental Default by Tenant, its agents, employees,
representatives, invitees, licensees, subtenants, customers or contractors
during or after the term of this Lease (including, but not limited to,
attorneys', consultant, laboratory and expert fees expert fees and including
without limitation, diminution in the value of the Premises, damages for the
loss or restriction on use of rentable or usable space or of any amenity of the
Premises and damages arising from any adverse impact on marketing of space),
arising from or related to the use, presence, transportation, storage, disposal,
spill, release or discharge of Hazardous Substances on or about the Premises, to
the extent caused by Tenant or Tenant's agents, employees, representatives,
invitees, licensees, subtenants, customers or contractors.
(2) INDEMNIFICATION OF TENANT. Landlord shall indemnify,
defend (with counsel reasonably approved by Tenant) and hold Tenant and Tenant's
affiliates, shareholders, directors, officers, employees and agents, harmless
from and against any and all claims, judgments, damages (including consequential
damages), penalties, fines, liabilities, losses, suits, administrative
proceedings, costs and expenses of any kind or nature which arise out of or are
in any way related to an environmental condition constituting a violation of
this Section, except due to the acts of Tenant or Tenant's agents, employees,
representatives, invitees, licensees, subtenants, customers or contractors.
I. DEFINITIONS.
(1) "Hazardous Substance" means, (i) asbestos and any
asbestos containing material and any substance that is then defined or listed
in, or otherwise classified pursuant to, any Environmental Laws or any
applicable laws or regulations as a "hazardous substance", "hazardous material",
"hazardous waste", "infectious waste", "toxic substance", "toxic pollutant" or
any other formulation intended to define, list, or classify substances by reason
of deleterious properties such
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BLUE LAKE STANDARD LEASE
as ignitability, corrosivity, reactivity, carcinogenicity, toxicity,
reproductive toxicity, or Toxicity Characteristic Leaching Procedure (TCLP)
toxicity, (ii) any petroleum and drilling fluids, produced waters, and other
wastes associated with the exploration, development or production of crude oil,
natural gas, or geothermal resources and (iii) petroleum products,
polychlorinated biphenyls, urea formaldehyde, radon gas, radioactive material
(including any source, special nuclear, or by-product material), and medical
waste. Excepted from the foregoing shall be substances (for example, those used
in construction or cleaning supplies or office machines) which contain Hazardous
Substances but in amounts and/or quantities which comply with all Environmental
Laws as hereinbelow defined.
(2) "Environmental Laws" collectively means and includes
all present and future laws and any amendments (whether common law, statute,
rule, order, regulation or otherwise), permits, and other requirements or
guidelines of governmental authorities applicable to the Premises and relating
to the environment and environmental conditions or to any Hazardous Substance
(including, without limitation, CERCLA, 42 U.S.C. ss. 9601, et. seq.; the
Resource Conservation and Recovery Act of 1976, 42 U.S.C. ss. 6901, et seq., the
Hazardous Materials Transportation Act, 49 U.S.C. ss. 1801, et seq., the Federal
Water Pollution Control Act, 33 U.S.C. ss.1251, et seq., the Clean Air Act, 33
U.S.C. ss. 7401, et seq., the Clear Air Act, 42 U.S.C. ss.741, et seq., the
Toxic Substances Control Act, 15 U.S.C. ss. 2601-2629, the Safe Drinking Water
Act, 42 U.S.C. ss. 300f-300j, the Emergency Planning and Community Right-To-Know
Act, 42 U.S.C. ss. 1101, et seq., and any so-called "Super Fund" or "Super Lien"
law, any law requiring the filing of reports and notices relating to hazardous
substances, environmental laws administered by the Environmental Protection
Agency, and any similar state and local laws and regulations, all amendments
thereto and all regulations, orders, decisions, and decrees now or hereafter
promulgated thereunder concerning the environment, industrial hygiene or public
health or safety.)
J. RADON. RADON GAS: Radon is a naturally occurring radioactive
gas that, when it has accumulated in a building in sufficient quantities, may
present health risk to persons who are exposed to it over time. Levels of radon
that exceed Federal and State Guidelines have been found in buildings in
Florida. Additional information regarding radon and radon testing may be
obtained from your county public health unit.
K. SURVIVAL OF INDEMNIFICATIONS. All indemnities herein shall
survive termination or expiration of this Lease.
40. BANKRUPTCY PROVISIONS
A. EVENT OF BANKRUPTCY. If this Lease is assigned to any person
or entity pursuant to the provisions of the United States Bankruptcy Code, 11
U.S.C. Section 101 et seq. (the "Bankruptcy Code"), any and all monies or other
consideration payable to Landlord or otherwise to be delivered to Landlord in
connection with such assignment shall be paid or delivered to Landlord, shall be
and remain the exclusive property of Landlord, and shall not constitute the
property of Tenant or of the estate of Tenant within the meaning of the
Bankruptcy Code. Any and all monies or other considerations constituting
Landlord's property under this Section not paid or delivered to Landlord shall
be held in trust for the benefit of Landlord and shall be promptly paid or
delivered to Landlord. Any person or entity to which this Lease is assigned
pursuant to the provisions of the Bankruptcy Code shall be deemed without
further act or deed to have assumed all of the obligations arising under this
Lease on and after the date of such assignment. For purposes of this Lease, an
"Event of Bankruptcy" shall mean the filing of a voluntary petition by Tenant or
the entry of an order for relief against Tenant, under Chapter 7, 11 or 13 of
the Bankruptcy Code (or the conversion to a Chapter 11 or 13 proceeding of a
proceeding that is filed by or against Tenant under any other Chapter of the
Bankruptcy Code).
B. ADDITIONAL REMEDIES. In addition to any rights or remedies
hereinbefore or hereinafter conferred upon Landlord under the terms of this
Lease, the following remedies and provisions shall specifically apply in the
event Tenant is in default of this Lease beyond applicable notice and cure
periods:
(1) In all events, any receiver or trustee in bankruptcy
shall either expressly assume or reject this Lease within ninety (90) days
following the entry of an "Order for Relief" or within such earlier time as may
be provided by applicable law.
(2) In the event of an assumption of this Lease by a
debtor or by a trustee, such debtor or trustee shall within thirty (30) days
after such assumption (i) cure any default or provide adequate assurance that
defaults will be promptly cured; (ii) compensate Landlord for actual pecuniary
loss or provide adequate assurance that compensation will be made for actual
losses, including, but not limited to, all attorneys' fees and costs incurred by
Landlord resulting from any such proceedings; and (iii) provide adequate
assurance of future performance.
(3) Where an Event of Default exists under this Lease
beyond applicable notice and cure periods, the trustee or debtor assuming this
Lease may not require Landlord to provide services or supplies incidental to
this Lease before its assumption by such trustee or debtor, unless Landlord is
compensated under the terms of this Lease for such services and supplies
provided before the assumption of such Lease.
(4) The debtor or trustee may only assign this Lease if
(i) it is assumed and the
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BLUE LAKE STANDARD LEASE
assignee agrees to be bound by this Lease, (ii) adequate assurance of future
performance by the assignee is provided, whether or not there has been a default
under this Lease, and (iii) the assignee has been approved by Landlord in
accordance with Section 13 or is an assignee permitted under Section 13. Any
consideration paid by any assignee in excess of the rental reserved in this
Lease shall be the sole property of, and paid to, Landlord.
(5) Landlord shall be entitled to the Rent provided under the
Federal Bankruptcy Code subsequent to the commencement of an Event of
Bankruptcy.
(6) Any security deposit given by Tenant to Landlord to secure the
future performance by Tenant of all or any of the terms and conditions of this
Lease shall be automatically transferred to Landlord upon the entry of an "Order
of Relief", such being deemed a material part of the consideration for
Landlord's agreement to enter into this Lease.
(7) The parties agree that Landlord is entitled to adequate
assurance of future performance of the terms and provisions of this Lease in the
event of an assignment under the provisions of the Bankruptcy Code. For purposes
of any such assumption or assignment of this Lease, the parties agree that the
term "adequate assurance" shall include, without limitation, at least the
following: (i) any proposed assignee must have, as demonstrated to Landlord's
reasonable satisfaction, a net worth (as defined in accordance with generally
accepted accounting principles consistently applied) in an amount sufficient to
assure that the proposed assignee will have the resources to meet the financial
responsibilities under this Lease, including the payment of all Rent; the
financial condition and resources of Tenant are material inducements to Landlord
entering into this Lease; (ii) any assumption of this Lease by a proposed
assignee shall not adversely affect Landlord's relationship with any of the
remaining tenants in the Building taking into consideration any and all other
"use" clauses and/or "exclusivity" clauses which may then exist under their
leases with Landlord; and (iii) any proposed assignee must not be engaged in any
business or activity which it will conduct on the Premises and which will
subject the Premises to contamination by any Hazardous Materials.
41. FIRE PREVENTION SYSTEMS
The Tenant shall be responsible for the cost of any change,
modification, alteration or installation of any new or existing sprinkler
system, fire extinguishing system and/or fire detection system which may now or
hereafter be required as follows:
A. If the National Board of Fire Underwriters or any local Board
of Fire Underwriters or Insurance Exchange (or other bodies hereafter exercising
similar functions) shall require or recommend the installation of fire
extinguishers, a "sprinkler system," fire detection and prevention equipment
(including, but not limited to, smoke detectors and heat sensors), or any
changes, modifications, alterations, or the installation of additional sprinkler
heads or other equipment for any existing sprinkler, fire extinguishing system,
and/or fire detection system for any reason, to the extent attributable to
Tenant's specific use of the Premises or Alterations performed by Tenant; OR
B. If any law, regulation, or order or if any bureau, department,
or official of the Federal, State, and/or Municipal Governments shall require or
recommend the installation of fire extinguishers, a "sprinkler system," fire
detection and prevention equipment (including, but not limited to, smoke
detectors and heat sensors), or any changes, modifications, alterations, or the
installation of additional sprinkler heads or other equipment for any existing
sprinkler system, fire extinguishing system, and/or fire detection system for
any reason, to the extent attributable to Tenant's specific use of the Premises
or Alterations performed by Tenant; OR
C. If any such installations, changes, modifications, alterations,
sprinkler heads, or other equipment become necessary to prevent the imposition
of a penalty, an additional charge, or an increase in the fire insurance rate as
fixed by said Board or Exchange, from time to time, or by any fire insurance
company as a result of the use of the Premises whether or not the same is a
Permitted Use under this Lease.
D. The Landlord may elect to perform the work and charge the cost
thereof to Tenant as Additional Rent. The Tenant shall pay to Landlord the full
cost of such work within thirty (30) days after Landlord has presented invoices
and/or paid receipts for the same. If the Landlord does not elect to perform
such work, the Tenant shall immediately proceed, at its sole cost, to perform
the work upon the following conditions:
(i) a general contractor licensed in Florida and reasonably
approved by Landlord shall be utilized
(ii) all laws, ordinances and regulations governing such
work shall be complied with
(iii) a payment and performance bond in Landlord's favor and
with a surety acceptable to Landlord shall be obtained
(iv) the construction contract and all plans and
specifications for the work shall be subject to Landlord's reasonable approval.
42. SPECIAL EVENTS
The Tenant shall not, without the prior written consent of the Landlord
which shall not be
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BLUE LAKE STANDARD LEASE
unreasonably withheld or delayed, schedule, advertise or undertake any
exposition, promotion or other type of special event at the Premises. Any
approval of the Landlord to a special event may include, but not be limited to,
at the Landlord's option, to reasonable conditions such as guidelines for
traffic and pedestrian control, security, parking and other considerations in
the interest of maintaining the health and safety for both the Tenant's invitees
as well as that of other tenants. In addition, the Landlord may, in its
reasonable discretion, require the Tenant to have delivered a bond by a surety
acceptable to Landlord to guaranty any financial undertakings of any
indemnification in connection with a special event.
43. MISCELLANEOUS
A. If Tenant has a lease for other space in the Building, an
Event of Default by Tenant under such lease beyond applicable notice and cure
periods will constitute a default hereunder.
B. If any term or condition of this Lease or the application
thereof to any person or circumstance is, to any extent, invalid or
unenforceable, the remainder of this Lease, or the application of such term or
condition to persons or circumstances other than those as to which it is held
invalid or unenforceable, is not to be affected thereby and each term and
condition of this Lease is to be valid and enforceable to the fullest extent
permitted by law. This Lease will be construed in accordance with the laws of
the State of Florida.
C. Submission of this Lease to Tenant does not constitute an
offer, and this Lease becomes effective only upon execution and delivery by both
Landlord and Tenant.
D. Tenant acknowledges that it has not relied upon any statement,
representation, prior or contemporaneous written or oral promises, agreements or
warranties, except such as are expressed herein.
E. Tenant agrees to pay, before delinquency, all taxes assessed
during the Lease Term agreement (i) all personal property, trade fixtures, and
improvements located in or upon the Premises and (ii) any occupancy interest of
Tenant in the Premises. Landlord agrees to pay all real estate taxes and
assessments against the Building before the Building would be sold by tax deed
to pay such delinquent taxes.
F. If Tenant, with Landlord's consent, occupies the Premises or
any part thereof for the purpose of conducting business prior to the Rent
Commencement Date all provisions of this Lease will be in full force and effect
commencing upon such occupancy, and Base Rent and Additional Rent, where
applicable, for such period will be paid by Tenant at the same rate herein
specified.
G. Each party represents and warrants that it has not dealt with
any agent or broker in connection with this transaction except for Blue Lake
Realty, Inc. and the agents or brokers specifically set forth in the BLI Rider
whose commissions shall be paid by Landlord pursuant to separate agreement. If
either party's representation and warranty proves to be untrue, such party will
indemnify the other party against all resulting liabilities, costs, expenses,
claims, demands and causes of action, including reasonable attorneys' fees and
costs through all appellate actions and proceedings, if any. The foregoing will
survive the end of the Lease Term.
H. Neither this Lease nor any memorandum hereof will be recorded
by Tenant.
I. Nothing contained in this Lease shall be deemed by the parties
hereto or by any third party to create the relationship of principal and agent,
partnership, joint venturer or any association between Landlord and Tenant, it
being expressly understood and agreed that neither the method of computation of
Rent nor any other provisions contained in this Lease nor any act of the parties
hereto shall be deemed to create any relationship between Landlord and Tenant
other than the relationship of landlord and tenant.
J. Whenever in this Lease the context allows, the word
"including" will be deemed to mean "including without limitation". The headings
of articles, sections or paragraphs are for convenience only and shall not be
relevant for purposes of interpretation of the provisions of this Lease.
K. Except as otherwise stated in this Lease, this Lease does not
create, nor will Tenant have, any express or implied easement for or other
rights to air, light or view over or about the Building or any part thereof.
L. Landlord reserves the right, upon reasonable advance notice to
Tenant, except in the case of an emergency, to use, install, monitor, and repair
pipes, ducts and conduits within the walls, columns, and ceilings of the
Premises. Landlord shall use all reasonable efforts to not materially interfere
with Tenant's peaceful use and occupancy of the Premises.
M. Any acts to be performed by Landlord under or in connection
with this Lease may be delegated by Landlord to its managing agent or other
authorized person or firm. Provided, however that any such delegation shall not
reduce or alter the obligations to be performed by Landlord as set forth in this
Lease.
N. It is acknowledged that each of the parties hereto has been
fully represented by legal counsel and that each of such legal counsel has
contributed substantially to the content of this Lease. Accordingly, this Lease
shall not be more strictly construed against either party hereto by reason of
the
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BLUE LAKE STANDARD LEASE
fact that one party may have drafted or prepared any or all of the terms and
provisions hereof.
O. If more than one person or entity is named herein as Tenant,
their liability hereunder will be joint and several. In case Tenant is a
corporation, Tenant (a) represents and warrants that this Lease has been duly
authorized, executed and delivered by and on behalf of Tenant and constitutes
the valid and binding agreement of Tenant in accordance with the terms hereof,
and (b) Tenant shall deliver to Landlord or its agent, within three (3) business
days of the execution of this Lease, executed by Tenant, certified resolutions
of the board of directors authorizing Tenant's execution and delivery of this
Lease and the performance of Tenant's obligations hereunder. In case Tenant is a
partnership, Tenant represents and warrants that all of the persons who are
general or managing partners in said partnership have executed this Lease on
behalf of Tenant, or that this Lease has been executed and delivered pursuant to
and in conformity with a valid and effective authorization therefor by all of
the general or managing partners of such partnership, and is and constitutes the
valid and binding agreement of the partnership and every partner therein in
accordance with its terms. It is agreed that each and every present and future
partner in Tenant, to the extent that Tenant is a partnership, shall be and
remain at all times jointly and severally liable hereunder and that neither the
death, resignation or withdrawal of any partner, nor the subsequent modification
or waiver of any of the terms and provisions of this Lease, shall release the
liability of such partner under the terms of this Lease unless and until
Landlord shall have consented in writing to such release.
P. Landlord has made no inquiries about and makes no
representations (express or implied) concerning whether Tenant's proposed use of
the Premises is permitted under applicable law, including applicable zoning law;
should Tenant's proposed use be prohibited, Tenant shall be obligated to comply
with applicable law and this Lease shall nevertheless remain in full force and
effect. Landlord covenants that the Building is zoned to permit corporate
headquarters office use as contemplated in the BLI Rider.
Q. Notwithstanding anything to the contrary in this Lease, if
Landlord or Tenant cannot perform any of its non-monetary obligations due to
events beyond that party's control, the time provided for performing such
obligations shall be extended by a period of time equal to the duration of such
events. Events beyond either party's control include, but are not limited to,
hurricanes and floods and other acts of God, war, civil commotion, labor
disputes, strikes, fire, flood or other casualty, shortages of labor or
material, government regulation or restriction and weather conditions. Nothing
herein contained shall constitute a waiver or mitigation of Tenant's
responsibility to pay Rent.
R. Notwithstanding anything to the contrary contained in this
Lease, in the event of any litigation under this Lease the prevailing party will
be reimbursed by the non-prevailing party for all reasonable attorneys' fees and
costs including through all appellate actions and proceedings, including
bankruptcy proceedings.
S. This Lease and the schedules and riders attached, form part of
this Lease together with the Rules and Regulations adopted and promulgated by
Landlord and set forth all the covenants, promises, assurances, agreements,
representations, conditions, warranties, statements and understandings
("Representations") between Landlord and Tenant concerning the Premises and the
Building and there are no Representations, either oral or written between them
other than those in this Lease. This Lease supersedes and revokes all previous
negotiations, arrangements, letters of intent, offers to lease, lease proposals,
brochures, Representations and information conveyed whether oral or in writing,
between the parties hereto or their respective representatives or any other
person purporting to represent Landlord or Tenant. Tenant acknowledges it has
not been induced to enter into this Lease by any representations not set forth
in this Lease, and has not relied on any such Representations not set forth
herein, no such Representations not set forth herein shall be used in the
interpretation or construction of this Lease, and the Landlord shall have no
liability for any consequences arising as a result of any such Representations
not set forth herein. Except as herein otherwise provided, no subsequent
alteration, amendment, change, or addition to this Lease shall be binding upon
Landlord or Tenant unless in writing and signed by each of them.
T. Time shall be of the essence for all actions required under
this Lease.
44. DELIVERY OF GUARANTY
If Tenant is required to deliver a Guaranty by a Guarantor, Tenant shall
deliver a guaranty in the form of guaranty (the "Guaranty"),together with the
form of Guarantor's resolution in the form attached hereto attached as Exhibit
"K", and the Guarantor's certificate of financial standing attached hereto as
Exhibit "K" fully executed by each Guarantor. If a Guaranty is required pursuant
to the BLI Rider then, at or prior to the parties' execution of this Lease
Landlord has delivered to Tenant a form of guaranty (the "Guaranty") to be
signed by each Guarantor identified in the BLI Rider. Tenant's failure to
deliver the Guaranty fully executed by the Guarantor within 5 days from the
earliest date on which this Lease has been signed by the parties shall
constitute an Event of Default.
45. CONFIDENTIALITY
Landlord and Tenant acknowledge that the terms and provisions of this
Lease have been
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BLUE LAKE STANDARD LEASE
negotiated based upon a variety of factors, occurring at a coincident point in
time, including, but not limited to: (i) the individual principals involved and
the financial strength of Tenant, (ii) the nature of Tenant's business and use
of the Premises, (iii) the current leasing market place and the economic
conditions affecting rental rates, (iv) the present and projected tenant mix of
the Building, and (v) the projected juxtaposition of tenants on the floor(s)
upon which the Premises are located and the floors within the Building.
Therefore, recognizing the totality, uniqueness, complexity and interrelation of
the aforementioned factors, the Tenant agrees that information concerning
Landlord and the Blue Lake Building, and the financial terms of this Lease, are
confidential and proprietary information and Tenant agrees that it will use all
reasonable efforts to not permit the duplication or disclosure (whether by word
of mouth, mechanical reproduction, physical tender or visual or oral
transmission or review) of any such information, including the terms and
conditions of this Lease to third parties who could, in any way, be considered
presently or in the future as prospective tenants of the Building, to any
person, unless such duplication, use, or disclosure is specifically authorized
by Landlord in writing. Confidential information is not meant to include any
information that is in the public domain. In addition, Tenant agrees to use all
reasonable efforts to keep the terms and conditions as contained herein
confidential, with the following exceptions:
A. Tenant may disclose the contents of this Lease to its advisors
in the contemplated transaction, so long as the advisor agrees in writing to use
all reasonable efforts to maintain confidentiality;
B. Tenant may disclose such information as required by court
order;
C. Tenant may disclose such information as required by any laws,
regulations or requirements applicable to Tenant or any affiliate of Tenant; and
D. Tenant may disclose the contents of this Lease to potential
assignees or subtenants, so long as such potential assignees or subtenants agree
in writing to use all reasonable efforts to maintain confidentiality.
Tenant shall issue no press release or statement to the media regarding
this Lease without the Landlord's prior approval, which approval shall not be
unreasonably withheld or delayed.
46. SIGNAGE CRITERIA
Tenant shall be permitted to erect or enplace a sign, as applicable, in
conformance with the BLCC design criteria for the Premises as attached hereto
and made a part hereof as Exhibit "H".
47. CARPOOLING, MASS TRANSIT AND TRAFFIC CONTROL
Tenant acknowledges that, due to the nature and size of the Building,
Landlord may be required by applicable governmental authorities to participate
in, and require tenants to participate in, carpool programs, mass transit
programs, flexible shift and other flexible time programs, and other traffic
reduction programs and measures. Tenant agrees to participate in and comply with
such programs and measures required by applicable governmental authorities or
agreed to by Landlord with respect to the Building. Tenant's breach of this
provision shall not be a default under this Lease or expose Tenant otherwise to
damages or injunction.
48. LEASE CONTINGENCIES
This Lease shall be conditioned and contingent upon the occurrence of
the following event: within ten (10) days from the Effective Date hereof,
Landlord's mortgagee(s) and other lenders have approved this Lease and the
Tenant (including but not limited to Tenant's financial condition).
49. ASSOCIATION
The Building, in which the Premises are located shall be subject to a
Declaration of Restrictive Covenants, Easements and Conditions (the
"Declaration") which shall govern certain matters with respect to the
development, management and maintenance of the Building and to satisfy
requirements with respect to surface water management, drainage and other
aspects of the Building. The Declaration shall provide for the creation of a
property owner's association ("Association") to perform certain management,
operational and maintenance obligations pursuant thereto. The Association will
have the authority to levy fees and assessments against the Building, including
the Building, to pay for the obligations of the Association. This Lease is
subject to the Declaration, upon the recordation of the Declaration, and to the
rights of the Association pursuant thereto. Additionally, fees and assessments
of the Association paid by the Landlord shall be deemed Operating Expenses for
the purpose of determining Overhead Rent. The Declaration shall not materially
impair Tenant's rights under this Lease.
50. VENDING MACHINES
No Tenant shall obtain, or accept for use in the Premises, vending
machines or pay telephones, or other similar services from any persons other
than those specifically designated by Landlord to offer or distribute such
services. Landlord shall designate at least one vendor for such services.
51. FOOD SERVICE
At all times during the term of the Lease (subject; however, to
reasonable temporary
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BLUE LAKE STANDARD LEASE
interruptions), Landlord will provide a cafeteria or other food service facility
within the Building campus to serve breakfast and lunches to employees of Tenant
and other tenants. The scope and types of food to be served, and all other
aspects of such food service facility shall be determined in Landlord's sole
discretion.
52. AUDITORIUM/CONFERENCE CENTER
Landlord will make available to Tenant on an as available, first come
first serve basis, the existing auditorium and conference center, at a cost no
greater a cost than that charged to other tenants, together with Landlord's
charges for setup and cleanup, and for any damages thereto resulting from
Tenant's use thereof.
53. TELECOMMUNICATIONS
A. TENANT'S RESPONSIBILITY. Tenant acknowledges and agrees that
all telephone and telecommunications and data services, including wiring and
installation therefor, desired by Tenant shall be ordered and utilized at the
sole expense of Tenant. Unless Landlord otherwise requests or consents in
writing, all of Tenant's telecommunications equipment shall be and remain solely
in the Premises and the telephone closets on the floor on which the Premises is
located, in accordance with the rules and regulations adopted by Landlord from
time to time. Unless otherwise specifically agreed to in writing, Landlord shall
have no responsibility for the maintenance of Tenant's telecommunications or
data equipment, including wiring; nor for any wiring or other infrastructure to
which Tenant's telecommunications or data equipment may be connected. Tenant
agrees that, to the extent any such service is interrupted, curtailed or
discontinued, Landlord shall have no obligation or liability with respect
thereto and it shall be the sole obligation of Tenant at its expense to obtain
substitute service, unless caused by the negligence or willful misconduct of the
Landlord, its agents, employees, or contractors.
B. REMOVAL OF EQUIPMENT AND WIRING AND OTHER FACILITIES. Any and
all telecommunications and data equipment installed in the Premises or elsewhere
in the Building or the Project by or on behalf of Tenant, including wiring, or
other facilities for telecommunications or data transmittal reception, shall be
removed prior to the expiration or earlier termination of the Term, by Tenant at
its sole cost or, at Landlord's election, by Landlord at Tenant's sole cost,
with the cost therefor to be paid as Additional Rent.
C. NEW TELECOMMUNICATIONS OR DATA PROVIDER INSTALLATIONS. Tenant
acknowledges that the Landlord has or will enter into an agreement with a
telephone, telecommunications or data provider for the installation and
maintenance of telecommunications lines to and within the Building and that such
lines will be the exclusive lines serving the Building and the Premises. In the
event that Tenant wishes at any time to utilize the services of a telephone,
telecommunications or data provider whose equipment is not then servicing the
Project, no such provider shall be permitted to install its line within the
Building or Project without first securing the prior written approval of
Landlord, which approval shall be in the Landlord's sole and absolute
discretion. The Landlord's approval, if given, shall not be deemed any kind of
warranty or representation by Landlord, including without limitation, any
warranty or representation as to the suitability, confidence, or financial
strength of the provider without limitation of the foregoing standard and may be
conditioned upon such terms as shall be determined by Landlord in its reasonable
judgment.
D. LIMITS ON PROVIDER RELATIONSHIP. Notwithstanding anything
herein to the contrary, no telephone, telecommunications or data provider shall
be deemed a third-party beneficiary of this Lease.
E. INSTALLATION AND USE OF WIRELESS TECHNOLOGIES. Subject to
Paragraph 56 hereof, Tenant shall not utilize any wireless communications or
data equipment (other than usual and customary cellular telephones), including
antenna and satellite receiver dishes, within the Premises, or the Building or
the Project, without Landlord's prior written consent, which consent may be
arbitrarily withheld. Such consent may be conditioned in such manner so as to
protect Landlord's financial interest and the interest of the Building and the
other tenants therein, in a manner similar to the arrangement described in the
immediately preceding paragraphs.
F. CONSENT NOT LANDLORD WARRANTY. Landlord's consent under this
Section shall not be deemed any kind of warranty or representation by Landlord,
including without limitation, any warranty or representation as to the
suitability, competence or financial strength of provider.
G. TENANT RESPONSIBLE FOR SERVICE INTERRUPTION. Tenant agrees
that to the extent service by its provider is interrupted, curtailed or
discontinued, Landlord shall have no obligation or liability with respect
thereto and it shall be the sole obligation of Tenant at its expense to obtain
substitute service as to another, except to the extent caused by the negligence
or willful misconduct of Landlord, its agents, employees or its contractors.
H. NO THIRD PARTY RIGHTS. The provisions of this Section may be
enforced solely by the Tenant and Landlord, and are not for the benefit of any
other party, specifically without limitation, no telephone or telecommunications
provider shall be deemed a third party beneficiary of the Lease.
I. LIABILITY FOR EQUIPMENT INTERFERENCE. In the event that
telecommunications or data equipment, wiring and facilities or satellites and
antenna equipment of any kind installed by or at the request of Tenant within
the Premises, on the roof, or elsewhere within or on the Building, or the
Project, causes interference to equipment used by another
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BLUE LAKE STANDARD LEASE
party, Tenant shall assume all liability related to such interference. Tenant
shall use reasonable efforts, and shall cooperate with Landlord and other
parties to promptly eliminate such interference. In the event that Tenant is
unable to do so, Tenant will substitute alternative equipment which remedies the
situation. If such interference persists, Tenant shall discontinue the use of
such equipment, and at Landlord's discretion, remove such equipment according to
the foregoing specifications. Tenant agrees to and shall indemnify and hold
Landlord harmless or any liabilities and claims against Landlord resulting from
such interference.
54. INCENTIVE PROGRAMS. Tenant acknowledges advice from Landlord that
Landlord may, from time to time, apply for various loans, grants and/or other
incentive programs ("Incentive Programs"), which may enhance the value of the
Building. It is anticipated that certain applications for solicitations may
require a tenant or other possessor of portions of the Building to be the
applicant, co-applicant or participating party in applying for and/or securing
the Incentive Program(s). Within five (5) business days of Landlord's request,
Tenant shall, at Landlord's expense execute, to the extent required as to any
Incentive Program, any and all applications, petitions and/or other
documentation in support of Incentive Program. In any instance in which an
Incentive Program is applied for and secured, Tenant hereby irrevocably assigns
and quit-claims to Landlord any and all rights and interests which Tenant may
claim in and to any benefits or proceeds of the Incentive Programs. The
assignment contained in the immediately preceding sentence is self-effectuating
without need for further confirmation to be effective; however, at the request
of Landlord, Tenant shall execute and deliver such assignment(s), confirmations
with supporting documentation as may from time-to-time be required by Landlord
in furtherance of this Section. Landlord covenants with Tenant that Tenant shall
not incur any liability or obligation by virtue of or associated with the
application, processing or any participation in the securing of any Incentive
Program, and Landlord shall indemnify Tenant in connection therewith. Tenant
further agrees that, except that to the extent necessary in processing any
application for Incentive Programs, Tenant will use all reasonable efforts to
have all information received by Tenant or any employee, shareholder, attorney,
accountant or other party acting by, through or under Tenant shall and remain
confidential as proprietary information owned and reserved solely by Landlord.
Landlord may exclusively, and its sole option, prepare a memorandum of this
Section which shall be executed by Tenant upon request of Landlord and which may
be recorded in the public records of Palm Beach County, Florida.
55. SAVING PROVISION. If any provision of this Lease, or its application
to any situation shall be invalid or unenforceable to any extent, the remainder
of this Lease, or the application thereof to situations other than that as to
which it is invalid or unenforceable, shall not be affected thereby and every
provision of this Lease shall be valid and enforceable to the fullest extent
permitted by law.
56. SATELLITE DISH. Landlord agrees that Tenant, at its sole cost and
expense, has the right to install a satellite dish, fibre optics and microwave
transmission equipment (collectively, the "Satellite Dish") on the roof of the
Building. Should Tenant elect to install a Satellite Dish on the roof of the
Building, Tenant agrees to install the Satellite Dish in accordance with all
applicable codes and laws and sound engineering and construction practices.
Tenant further agrees to use any specified roofing contractor or other general
contractor required by Landlord to install the Satellite Dish so as avoid any
compromise to the roof structure or membrane. The architectural and engineering
plans and specifications for the Satellite Dish and any required Alterations to
the Building in connection therewith shall be subject to the Landlord's approval
as an Alteration under this Lease. Tenant warrants and represents that any
emissions from the Satellite Dish are not harmful to humans and indemnifies the
Landlord from and against any claims thereof in the same manner as for any other
Environmental Default hereunder.
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BLUE LAKE STANDARD LEASE
IN WITNESS WHEREOF, the parties have signed and delivered this Lease as
of the day and year first above written.
Witnesses: "TENANT"
CYBEAR, INC., a Florida corporation
________________________________ By:_________________________________
Print Name:_________________________
________________________________ Title:______________________________
(As to Tenant) [SEAL]
Witnesses: "LANDLORD"
________________________________ BLUE LAKE, LTD., a Florida limited
partnership
________________________________
(As to Landlord) By: BLUE LAKE, INC., a Florida
corporation, its general partner
By:_____________________________
Print Name:________________________
Authorized Agent:__________________
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BLUE LAKE STANDARD LEASE
EXHIBIT "A"
FLOOR PLAN
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BLUE LAKE STANDARD LEASE
EXHIBIT "B"
WORK LETTER AGREEMENT
In the event of any inconsistencies between this Agreement and the Lease
dated currently herewith to which this Agreement is attached as Exhibit "B",
this Agreement shall control. Capitalized terms used in this Agreement shall,
unless otherwise specifically set forth herein, have the same meanings as in the
Lease.
1. Tenant shall complete or cause the completion of improvements to the Premises
as shown on the Final Plans (defined below) and as more fully described in this
Section (the "Work"). Tenant shall retain an architect and engineer from and
amongst a group which shall consist of the published list of pre-approved
architects and engineers at Blue Lake Corporate Center, listed pursuant to
Schedule B-3 to prepare complete and detailed architectural plans and
specifications, and structural, mechanical and engineering plans and
specifications, showing the Work (collectively, the "Construction Plans").
Subject to the Landlord's Contribution for Tenant Improvements, the cost of the
Construction Plans shall be the responsibility of Tenant. The Construction Plans
shall be prepared in a manner as will be acceptable to Landlord in its
reasonable discretion. The Work shall meet or exceed the minimum standards for
the Work ("Minimum Building Materials and Construction") attached hereto as
Exhibit "B-1" and otherwise as determined by Landlord in its reasonable
discretion. It is the intent of the parties that Exhibit "B-1" set forth the
minimum quality of the Work, however, Exhibit "B-1" shall not be construed to
require any particular quantity of the items described therein except to the
extent required by applicable codes or laws. The Construction Plans shall be
consistent with all applicable laws, codes, ordinances and regulations,
including but not limited to the Americans with Disabilities Act of 1990, of
governmental and quasi-governmental entities having jurisdiction regarding the
Work and/or the Building.
Tenant's Construction Plans shall include, but not be limited to, indication or
identification of the following:
A. locations and structural design of all floor area requiring
live load capacities in excess of 75 pounds per square foot;
B. the density of occupancy in large work areas;
C. the location of any food service areas or vending equipment
rooms if permitted by Landlord;
D. areas requiring 24-hour air conditioning, Tenant's
supplemental air-conditioning units (if any), and electrical consumption
subverters if required by Landlord;
E. location of rooms for telephone equipment;
F. locations and types of plumbing, if any, required for toilets
(other than core facilities), sinks, drinking fountains, etc.;
G. light switching of offices, conference rooms, etc.;
H. layouts for specially installed equipment, including
computers, size and capacity of mechanical and electrical services required and
heat projection of equipment;
I. dimensioned location of: (a) electrical receptacles (120
volts), including receptacles for wall clocks, and telephone outlets and their
respective locations (wall or floor), (b) electrical receptacles for use in the
operation of Tenant's business equipment which requires 208 volts or separate
electrical circuits, (c) electronic calculating, CRT systems, etc., and (d)
special audio-visual requirements;
J. special fire protection equipment and raised flooring where
permitted by Building systems and otherwise approved by Landlord;
K. reflected ceiling plan;
L. information concerning air conditioning loads, including, but
not limited to, air volume amounts at all supply vents;
M. non-building standard ceiling heights and/or materials;
N. materials, colors and designs of wall coverings and finishes;
O. painting and decorative treatment required to complete all
construction;
P. swing of each door;
Q. a schedule for doors (including dimensions for undercutting of
doors to clear carpeting) and frames complete with hardware; and
R. all other information necessary to make the work complete and
in all respects ready for operation.
2. Tenant shall deliver Construction Plans to Landlord for Landlord's approval.
Landlord shall
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BLUE LAKE STANDARD LEASE
respond to Tenant's request for approval of Tenant's Construction Plans within
ten (10) business days of their submission, during which time the Landlord's
architect and engineer ("Landlord's Consultants") will review the Construction
Plans. In the event Landlord or Landlord's Consultants shall reasonably
disapprove of all or a portion of Tenant's Construction Plans, it shall set
forth its reasons therefor in writing in reasonable detail within such ten (10)
business day period. Tenant shall be required to incorporate any reasonable
changes to the Construction Plans as required by Landlord. Landlord or
Landlord's Consultants shall respond to Tenant's request for consent of its
revised plans within three (3) business days of submission unless the revisions
are substantial in which event Landlord's response shall be within five (5)
business days thereafter. Neither the recommendation or designation by the
Landlord of a pre-approved list of architects or contractors shall be deemed to
create any liability on the part of Landlord with respect to the Construction
Plans (whether with respect to design, functionality, specifications, compliance
with legal requirements or otherwise). Tenant shall reimburse Landlord for
reasonable architect, engineer and other professional fees incurred by Landlord
in connection with review of Tenant's Construction Plans and Revisions to the
extent that such relate to an a Landlord-approved structural, roof or mechanical
system modification. However, (i) Tenant may use Landlord's Contribution, if
provided for in the BLI Rider, for such reimbursement, and (ii) reimbursement
shall be limited to customary rates.
3. As used herein, "Final Plans" refers to the Construction Plans after the same
have been approved in writing by Landlord. The Landlord Contribution to cost of
construction, if any, is set forth in the BLI Rider. Tenant shall be responsible
for the entire cost of demolition, if any, and Tenant's Initial Improvements
including any revisions to the Final Plans ("Revisions") subject to the
Landlord's Contribution. Tenant shall obtain, or cause to be obtained, all
necessary governmental permits and commence and diligently pursue at its sole
cost and expense construction of the Work contemplated by the Final Plans,
substantially in accordance with the Final Plans. Tenant shall obtain Landlord's
prior written approval of its building permit application before submission of
same. If applicable, Tenant's plans shall include all information necessary to
reflect Tenant's requirement for the installation of any supplemental air
conditioning system and ductor, electrical, plumbing and other mechanical
systems and all work necessary to connect any special or non-standard facilities
to the Building's base mechanical, electrical and structural systems. Tenant's
submission shall include not less than one (1) set of sepias, three (3) signed
and sealed sets, and six (6) bidding sets of black and white prints for each
bidder.
A. PERFORMANCE OF WORK. The Work shall be constructed in a good and
workmanlike manner substantially in accordance with the Construction Plans. The
Work shall be subject, at the option of Landlord, to the inspection of Landlord,
Landlord's Architect and Landlord's General Contractor from time to time, during
the period in which the Work is being performed, provided that such inspection
does not unreasonably interfere with the completion of the Work. If such
inspections reveal that any of the Work is not being constructed substantially
in conformance with the provisions of this Agreement or the Final Plans, Tenant
at its expense shall correct same forthwith. Only new, first class materials
shall be used in the performance of the Work. At all times during the
construction of the Work, it shall be Tenant's responsibility to cause each of
Tenant's contractors and subcontractors to maintain protection of the Premises
in such a manner as to prevent any damage to the Work, or to adjacent property
and improvements by reason of the performance of the Work. Tenant's contractor
and subcontractors shall properly secure the Premises, including, to the extent
required, the furnishing of temporary guard rails and barricades. Landlord for
good cause shall have the right to require Tenant to terminate any construction
work at any time being performed by or on behalf of Tenant in the Premises, and
to require that any contractor or subcontractor, or any employee of same, leave
the Building. Upon written notification, setting forth in reasonable detail such
good cause, from Landlord to Tenant to cease any work, Tenant shall forthwith
remove from the Premises all agents, employees and contractors of Tenant
performing such work until such time as Landlord shall have given its written
consent for the resumption of such construction work (such consent not to be
unreasonably withheld or delayed), and Tenant shall have no claim for damages of
any nature whatsoever against Tenant in connection therewith.
B. CHANGE ORDERS. Landlord's written approval shall be obtained by
Tenant prior to the undertaking of any construction work which deviates from or
modifies in a substantial manner from the Final Plans. Should Tenant or Tenant's
contractor request or desire to make any substantial changes to the Final Plans,
Tenant shall submit same to Landlord for its approval which shall not be
unreasonably withheld or delayed.
C. INSURANCE. During the course of construction, Tenant or Contractor
shall provide builder's risk insurance equal to the replacement cost of any
improvements being constructed, naming Landlord as an additional insured as its
interests may appears, and owners and contractors protective liability insurance
in an amount of not less than $3,000,000. In addition, Tenant shall maintain the
insurance required pursuant to the Lease.
D. BUILDING RULES AND REGULATIONS. During the course of construction,
Tenant and Contractor shall comply the with Building rules and regulations
relating to construction within the Building. Attached hereto as Exhibit "C" are
such rules and regulations, which Tenant and Contractor
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BLUE LAKE STANDARD LEASE
shall initial and cause to be posted during the course of construction.
E. NOTICE OF COMMENCEMENT. Tenant agrees not to cause or permit the
Contractor to commence construction and shall not disburse any funds to
Contractor, any subcontractors, sub-subcontractors, materialmen and laborers
until a Notice of Commencement is recorded pursuant to Chapter 713.13 of the
Florida Statutes, a certified copy of such Notice of Commencement has been
posted on the construction site, and an Affidavit of such posting is furnished
to Landlord. Such Notice of Commencement shall not be recorded without
Landlord's prior written consent to the form and content of same which shall not
be unreasonably withheld or delayed. The form of the Notice of Commencement
shall be in accordance with Exhibit "B-2" attached hereto. Landlord shall be
named on the Notice of Commencement to receive copies of Notices to Owner.
Landlord may desire to inquire and communicate directly with various parties
named in statements provided to Landlord by Tenant and Contractor or those
parties who give a Notice to Owner. Tenant hereby authorizes Landlord to make
such inquiries and authorize those parties to furnish the information required
by Landlord.
F. LIENS. Pursuant to the provisions of the Florida Construction Lien
Law (Chapter 713) and this Lease, the interest of the Landlord shall not be
subject to the liens for improvements made by the Tenant, Contractor, any
subcontractor, sub-subcontractor, materialman, supplier or laborer, and the
Lease is hereby deemed to expressly prohibit such liability. Tenant agrees to
notify Contractor, any subcontractors, sub-subcontractors, materialmen, laborers
and suppliers doing Work for Tenant on the Premises of this provision.
G. LANDLORD'S CONTRIBUTION. Notwithstanding anything to the contrary
contained herein, Tenant acknowledges that Landlord is merely providing the
Landlord's Contribution as an incentive for Tenant to enter into this Lease and
Landlord is not in any way acting as a contractor or as any other party with
respect to construction of the Work, and further, that neither the Landlord nor
the Building are liable for, nor stand as security for the claims or liens of
any Contractor, subcontractors, sub-subcontractors, materialmen, laborers and
other third parties, hired by or on behalf of the Tenant, except to the extent
caused by the negligence or willful misconduct of Landlord, its agents,
employees, or contractors.
H. PAYMENT OF LANDLORD'S CONTRIBUTION. Payment of Landlord's
Contribution ("Payment"), shall be made by Landlord (at its election in a check
payable jointly to Tenant and Contractor), monthly, within thirty (30) days
after satisfaction of the following conditions:
(1) The Construction Contract has been fully performed by
the Contractor to date; and
(2) Tenant submits verifiable receipts that it has paid in
full the Contractor on the Construction Contract through the date of the
particular payment; and
(3) As to final payment, all punchlist relating to the Work
has been completed; and
(4) Tenant's architect has certified to Landlord, in form
reasonably acceptable to Landlord, that all of the Work has been performed (as
to monthly payments) or completed (as to final payment) substantially in
accordance with the Final Plans, except as modified by change orders approved in
writing by Landlord; and
(5) The Contractor has furnished to both the Landlord and
Landlord's Architect, a duly and properly executed Contractor's Progress Payment
Affidavit or Final Affidavit, as applicable, complying in all respects to the
provisions of Chapter 713 of Florida Statutes (the "Construction Lien Law"), a
duly and properly executed Contractor's Partial Release of Lien or Final Release
of Lien, as applicable, all in such form and having such content as is
satisfactory to Landlord in its reasonable discretion, duly and properly
executed Partial Releases of Lien or Final Releases of Lien, as applicable, from
each and every subcontractor, sub-subcontractor, materialman, supplier and
laborer and such other documents as Landlord shall be entitled to under the
Construction Lien Law, all in such form and having such content as is
satisfactory to Landlord in its reasonable discretion. In the event Contractor
does not furnish to Landlord all of the aforesaid final releases of lien, then
Landlord shall be entitled to subtract from the amount that Landlord determines
is necessary to transfer to bond or to pay in full any subcontractor,
sub-subcontractor, materialman, laborer who has not furnished a Release of Lien
(but no reduction in the Payment shall be made if the Contractor posts a cash
bond or other surety accessible to Landlord covering such amounts). Landlord
shall have the right to pay directly any subcontractor, sub-subcontractor,
materialman, supplier and laborer listed on the Contractor's Affidavit given in
connection with the Contractor's Application for Payment, and any such other
subcontractor, sub-subcontractor, materialman, supplier and laborer who has
given a Notice to Owner; and
(6) As to final payment, certification by Tenant in form
satisfactory to Landlord that Tenant accepts the Premises, and that all Work has
been substantially completed in accordance with the Final Plans; and
(7) As to final payment, receipt by Landlord of two (2) sets
of detailed and complete As-Built Final Plans of the Work, including all
architectural, structural, mechanical, plumbing and electrical work done in the
Premises; and
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BLUE LAKE STANDARD LEASE
(8) As to final payment, evidence reasonably satisfactory to
Landlord that the Work is substantially complete in accordance with the Final
Plans and evidence of approval of such completion by local governmental
authorities; and
(9) As to final payment, Tenant is in occupancy of the
Premises and has made its first monthly installment of Base Rent, and is not
otherwise in default of the Lease beyond applicable notice and cure periods; and
(10) As to final payment, Landlord receives a copy of the
Certificate of Occupancy.
All progress payments shall be subject to a ten (10%) percent retainage
held by Landlord until final payment of Landlord's Contribution.
4. Tenant shall have the right to make Revisions from time to time after Final
Plans have been prepared. All Revisions, of a substantial nature (i.e., those
that are material, structural or mechanical in nature) shall be subject to
Landlord's prior written approval, which shall not be unreasonably withheld or
delayed. Landlord shall either approve or disapprove such Revisions within five
(5) business days after submission thereof by Tenant. Without limiting the
generality of the foregoing, no Revision will be approved unless (a) all changes
to and modifications from the Final Plans are circled or highlighted as per
standard practices and (b) said Revisions conform with the requirements of this
Work Letter. The cost of any Revisions shall be borne solely by Tenant and the
Revisions shall not delay the Commencement Date hereunder.
5. Tenant shall use due diligence to complete the Work as soon as may be
practicable.
6. Tenant shall notify Landlord of the date of Substantial Completion at least
five (5) days prior thereto. As used herein, "Substantial Completion" shall mean
that, with the exception of punch-list items, the Work shall have been completed
in accordance with the Final Plans. Landlord and Tenant shall thereupon set a
mutually convenient time for Tenant's Construction Agent and Landlord or
Landlord's Consultant to inspect the Premises. Upon completion of the
inspection, Tenant's Construction Agent shall acknowledge in writing that
substantial completion has occurred.
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BLUE LAKE STANDARD LEASE
EXHIBIT "B-1"
TO WORK LETTER AGREEMENT
1. PARTITIONS
(A) Demising Walls: One hour fire rated construction (unless otherwise
required by code due to existing conditions), full height from
floor slab to underside of upper deck, 3-5/8" 25 gauge (or as
structurally required for height to underside of upper deck) steel
studs spaced per code requirements, 3-1/2" fiberglass batt
insulation for sound attenuation full height of wall, Type "X"
5/8" gypsum board, taped and finished 2" above ceiling height
ready to receive finishes, and fire taped to the underside of the
upper deck. Construction to include both sides of wall.
(B) Interior Partitions: Non-rated wall construction, framed above
ceiling height 2", or to ceiling height (with zip bead), 3-5/8" 25
gauge steel studs spaced per code requirements, minimum 5/8"
gypsum board, taped and finished ready to receive finishes.
(C) Interior Face of Concrete/Masonry Walls: Non-rated wall
construction, furred above ceiling height 2", furring strips
spaced per applicable code, minimum 1/2" gypsum board, taped and
finished ready to receive finishes. No alterations or changes to
exterior wall without the written consent of the Landlord
2. DOORS
(A) Interior Entry Doors:
(i). Main Entry: C-Label fire rated door, 3'-0" X 8'-0" X
1-3/4", two flush solid core wood, paint grade, steel
frame.
(ii). Secondary Entry: same as above. Landlord to review for
access to mechanical systems and door requirements. Doors
to be recessed within the tenant space.
(B) Exterior Entry Doors: Two flush glass and aluminum non-label
doors, 3'-0" X 8'-0", with aluminum frame.
(C) Interior Doors: Solid core wood, 3'-0" X 8'-0", paint grade,
hollow metal frame. Match existing for spaces re-using existing
doors.
3. HARDWARE
(A) Interior Entry Doors: Three (3) pair ▇▇▇▇▇ BB1279 4.5" X 4.5" US
26D finish hinges, Lever lockset Schlage "D" series Athens model
with US 26D finish and to have top and bottom flush bolts with
threshold and weatherstrips, two door closers LCN Smooth Series
with US 26D finish, two door stoppers model IVES 435/436 and
eight door silencers model IVES 20.
(B) Exterior Entry Doors: Three (3) pair ▇▇▇▇▇ BB1279 4.5" X 4.5" US
26D finish hinges, Lever lockset Schlage "D" series Athens model
with US 26D finish and to have top and bottom flush bolts with
threshold and weatherstrips, two door closers LCN Smooth Series
with US 26D finish, two door stoppers model IVES 435/436 and
eight door silencers model IVES 20.
(C) Interior Doors: Three (3) ▇▇▇▇▇ BB1279 4.5" X 4.5" US 26D finish
hinges, Lever latchset Schlage "D" series Athens model with US
26D finish, one door stopper model IVES 435/436 and four door
silencers model IVES 20.
(D) Tenant shall provide one entry keyed to the Landlord's building
master key (see building engineer) that entry shall be the closest
door to the fire alarm control panel.
4. CEILINGS
(A) For new construction: 2' X 2' ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ #▇▇▇ ceiling tile
with 15" X 16" white metal grid at 9'-0" above finish floor.
(B) Existing construction: Match existing.
5. FLOORING
(A) Carpet: ▇▇▇▇, Lotus or equivalent 26 ounce commercial grade
textured loop pile direct glue down carpet in work areas and
offices. Vinyl base.
(B) Vinyl (VCT) tiles in kitchen areas.
(C) Ceramic tiles (4" X 4") in bathrooms.
6. FINISHES
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BLUE LAKE STANDARD LEASE
(A) Paint - Walls primed first coat, latex based paint single color.
(B) Window Treatments are to be mini-blinds, white, Levelor, to match
existing. The Y-buildings (001, 002, 031, 032, 003, 005) shall be
vertical blinds Satique-off white/3522.
(C) No wallcoverings to be used on exterior masonry/concrete walls.
7. MECHANICAL
(A) Controls
All thermostats and other controls to
match existing controls (▇▇▇▇▇▇▇
Controls, ▇▇▇▇▇▇-▇▇▇▇, see Building
Engineer).
(B) Variable Air Volume Box:
Match existing VAV (Trane, Carrier)
(C) Registers, Grills:
MetalAire white perforated air diffuser series 7000 Model
PCS-CB-5 (4-way) all 24" X 24"
(D) Ductor:
Ducting shall be 24 gauge sheet metal construction with
appropriate connections and hangers as per code. Flex duct for
drops mounted per code. Match existing shall be code compliant.
8. ELECTRICAL
(A) Light Fixtures:
2' X 4' four tube recessed fluorescent fixture with electronic
ballast and T-8 lamps or match/re-use existing lighting.
(B) Light Switches:
Toggle type single pole single throw switch.
(C) Exit Lights:
Battery backup and/or emergency
lighting circuit direct wired. Installed
per code.
(D) Receptacles:
Wall mounted duplex at 110 volts 20 amp rating at 16" above
finish floor as per code.
(E) Telephone:
Modular wall mounted outlets with pull string conduit stubbed
above ceiling with pull-string. 3/4" inch conduit supplied from
telephone room to leased space.
(F) Power:
Electric to be individually metered.
9. PLUMBING
Common area restrooms as per existing. New bathrooms and/or renovation
of existing bathrooms as below and are to be ADA compliant:
(A) Toilet Partitions:
Formica laminate or equal solid color with 1-1/4" thick panels
and 5'-10" high mounted with stainless steel hardware.
(B) Vanity Top:
Formica laminate or equivalent solid color with ADA compliant
design.
(C) Water Closet:
Wall mounted, American Standard
(D) Per applicable code for ADA and density requirements.
10. LIFE SAFETY SYSTEMS
(A) Fire alarm panel to be Thorn AutoCall AL-1500.
(B) Approved fire alarm contractor is WSA Systems, Inc., contact ▇▇▇▇
▇▇▇▇▇ (▇▇▇) ▇▇▇-▇▇▇▇.
(C) Fire Sprinkler system per code
11. EXTERIOR ENTRIES
All exterior entries to be per approved style as attached. Landlord to
review.
(A) Y-building entries.
(B) Flex building entries.
(C) Building 021/022/023/042 west face entries.
12. ARCHITECTURAL STANDARDS
(A) Drawing standards.
(B) CAD storage maintenance standards
13. SIGNAGE
(A) Exterior signage to be submitted by tenant and approved in
writing by Landlord.
(B) Interior signage package to be submitted by tenant and approved
in writing by Landlord.
(C) Temporary directional signage: tenant to submit to Landlord a
signage package. Landlord to review and approve in writing.
14. OTHER
(A) Any exterior details, modifications, temporary signage, posters,
banners, etc., to be reviewed and approved in writing by
Landlord prior to installation.
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BLUE LAKE STANDARD LEASE
EXHIBIT "B-2"
FORM OF NOTICE OF COMMENCEMENT
Permit No.____________________________
Tax Folio No. _________________________
NOTICE OF COMMENCEMENT
STATE OF FLORIDA
COUNTY OF PALM BEACH
The undersigned hereby gives notice that improvement will be made to
certain real property, and in accordance with Chapter 713, Florida Statutes, the
following information is provided in this Notice of Commencement.
1. Description of property: (legal description of the property, and
street address if available)
See Exhibit "A" attached hereto and made a part hereof.
2. General description of improvement:
Tenant's build-out of leasehold improvements to a portion of ▇▇▇▇
▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇, pursuant to Work Letter
Exhibit to Lease between Owner and Cybear, Inc..
3. Owner information
a. Name and address:
Cybear, Inc.
c/o Andrx Corporation
▇▇▇ ▇. ▇. ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇
▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇
Attention: ▇▇▇▇▇ ▇▇▇▇▇, Esq.
b. Interest in property:
Leasehold
c. Name and address of fee simple titleholder (if other than
Owner): N/A
Blue Lake, Ltd.
▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇
▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, Exec. Vice President
4. Contractor (name and address):
a. Name and address:
b. Fax Number:
5. Surety
a. Name and address: N/A
b. Phone Number:
c. Fax Number: (optional, if service by fax is acceptable).
d. Amount of bond: $
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BLUE LAKE STANDARD LEASE
6. Lender: (name and address)
a. Name and address:
b. Fax Number: (optional, if service by fax is acceptable).
7. Persons within the State of Florida designated by Owner upon whom
notices or other documents may be served as provided by Section 713.13(1)(a)7.,
Florida Statutes. (name and address)
Blue Lake, Ltd.
▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇
▇▇▇▇▇ ▇▇▇
▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇
Att: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, Executive Vice President
8. In addition to himself, Owner designates___________________________
(name) _____________ ___________________(address) to receive a copy of the
Lienor's Notice as provided in Section 713.13(1)(b), Florida Statutes.
9. Expiration date of notice of commencement: Six (6) months from the
date of recordation.
CYBEAR, INC., a Florida corporation
By:____________________________________________
Print Name:____________________________________
Title: ________________________________________
Sworn to and subscribed before me this _______ day of _______________,
1998, by _________________________ as _____________________________________ of
CYBEAR, INC., a Florida corporation, who is personally known to me or who has
furnished a _____________________ for identification.
-----------------------------------------------
Notary Public
My Commission Expires:
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BLUE LAKE STANDARD LEASE
EXHIBIT "B-3"
LIST OF PRE-APPROVED BLUE LAKE CORPORATE CENTER CONTRACTORS
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BLUE LAKE STANDARD LEASE
EXHIBIT "C"
RULES AND REGULATIONS
1. The sidewalks, entrances, passages, courts, elevators, vestibules,
stairways, corridors, and halls shall not be obstructed or encumbered by any
Tenant or used for any purpose other than ingress and egress to and from the
Premises.
2. No awnings or other projections shall be attached to the outside
walls of the Building without the prior written consent of Landlord. No
curtains, blinds, shades, or screens shall be attached to or hung in, or used in
connection with, any window or door of the Premises, without the prior written
consent of Landlord. Tenant shall be required to use only Landlord's standard
blinds and Tenant shall comply with any and all energy conservation measures
instituted by Landlord. Such awnings, projections, curtains, blinds, shades,
screens or other fixtures must be of a quality, type, design, and color, and
attached in the manner approved by Landlord.
3. No sign, advertisement, notice or other lettering shall be exhibited,
inscribed, painted or affixed by any Tenant on any part of the outside of the
Premises or Building or on the inside of the Premises if the same can be seen
from the outside of the Premises without the prior written consent of Landlord
except that the name of Tenant may appear on the entrance door of the Premises.
In the event of a violation of the foregoing by Tenant, Landlord may remove same
without any liability and may charge the expense incurred by such removal to the
Tenant or Tenants violating this rule. Interior signs on doors and the directory
shall be inscribed, painted or affixed for each Tenant by Landlord at the
expense of such Tenant and shall be of a size and style acceptable to the
Landlord. Tenant must furnish Landlord with evidence of compliance with
applicable legal requirements including Florida's Fictitious Name Law if Tenant
desires to identify itself by a name other than its legal name.
4. Tenant shall not occupy or permit any portion of the Premises demised
to it to be occupied as an office for a public stenographer or typist, or as a
▇▇▇▇▇▇ or manicure shop, or as an employment bureau. Tenant shall not engage or
pay any employees on the Premises, except those actually working for Tenant at
the Premises, nor advertise for labor giving an address at the Premises. The
Premises shall not be used for gambling, lodging, or sleeping or for any immoral
or illegal purposes.
5. The sashes, sash doors, skylights, windows, and doors that reflect or
admit light and air into the halls, passageway or other public places in the
Building shall not be covered or obstructed by any Tenant nor shall any bottles,
parcels or other articles be placed on the window ▇▇▇▇▇. No materials shall be
placed in the corridors or vestibules nor shall any articles obstruct any air
conditioning supply or exhaust vent.
6. The water and wash closets and other plumbing fixtures shall not be
used for any purposes other than those for which they were constructed and no
sweepings, rubbish, rags, or other substances shall be thrown therein. All
damages resulting from any misuse of the fixtures by Tenant, its servants,
employees, agents, or licensees shall be borne by Tenant.
7. No Tenant shall ▇▇▇▇, paint, drill into, or in any way deface any
part of the Premises or the Building of which they form a part. No boring,
cutting, or stringing of wires shall be permitted, except with the prior written
consent of Landlord, and as it may direct. Should a Tenant require telegraphic,
telephonic, annunciator or other communication service, Landlord will direct the
electricians where and how wires are to be introduced and placed, and none shall
be introduced or placed except as Landlord shall direct. Electric current shall
not be used for power or heating without Landlord's prior written permission.
Neither Tenant nor Tenant's Agents including, but not limited to, electrical
repairmen and telephone installers, shall lift, remove or in any way alter or
disturb any of the interior ceiling materials of the Premises or Building, nor
shall any of same have any access whatsoever to the area above the interior
ceiling of the Premises or the Building except with the prior written consent of
Landlord and in accordance with guidelines established by Landlord. No antennas
shall be permitted.
8. No bicycles, vehicles, or animals of any kind shall be brought into
or kept in or about the Premises, and no cooling shall be done or permitted by
any Tenant on said Premises. Bicycles shall be locked in the racks provided
therefor. No Tenant shall cause or permit any unusual or objectionable odors to
be produced upon or permeate from the Premises.
9. Landlord shall have the right to retain a passkey and to enter the
Premises at any time, to examine same or to make such alterations and repairs as
may be deemed necessary, or to exhibit same to prospective Tenants during normal
business hours.
10. No Tenant shall make, or permit to be made, any unseemly or
disturbing noises or disturb or interfere with occupants of this or neighboring
buildings or premises or those having business with them, whether by the use of
any musical instrument, radio, talking machine, unmusical noise, whistling,
singing, or in any other way. No Tenant shall throw anything out of doors,
windows, skylights, or down the passageways.
11. No additional locks or bolts of any kind shall be placed upon any of
the doors or windows by any Tenant, nor shall any changes be made in existing
locks or the mechanism thereof. Each Tenant must, upon the termination of his
tenancy restore to
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BLUE LAKE STANDARD LEASE
the Landlord all keys of offices and toilet rooms, either furnished to, or
otherwise procured by, such Tenant. Tenant shall pay to the Landlord the cost of
any lost keys.
12. Tenant will refer all contractors, contractors' representatives and
installation technicians, rendering any service to Tenant, to Landlord for
Landlord's supervision, approval, and control before performance of any
contractual service. This provision shall apply to all work performed in the
building, including installations of telephones, telegraph equipment, electrical
devices and attachments, and installations of any nature affecting floors,
walls, woodwork, trim, windows, ceilings, equipment or any other physical
portion of the Building.
13. All removals, or the carrying in or out of any safes, freight,
furniture or bulky matter of any description must take place during the hours
which the Landlord or its agent may determine from time to time. All such
movement shall be under supervision of Landlord and in the manner agreed between
Tenant and Landlord by pre-arrangement before performance. Such pre-arrangements
initiated by Tenant will include determination by Landlord, subject to his
decision and control, of the time, method, and routing of movement and
limitations imposed by safety or other concerns which may prohibit any article,
equipment or any other item from being brought into the building. Landlord
reserves the right to prescribe the weight and position of all safes, which must
be placed upon 2-inch thick plank strips to distribute the weight. Any damage
done to the Building or to other Tenants or to other persons in bringing in or
removing safes, furniture or other bulky or heavy articles shall be paid for by
the Tenant.
14. Tenant agrees that all machines or machinery placed in the Premises
by Tenant will be erected and placed so as to prevent any vibration or annoyance
to any other Tenants in the Building of which the Premises are a part, and it is
agreed that upon written request of Landlord, Tenant will, within ten (10) days
after the mailing of such notice, provide approved settings for the absorbing,
preventing, or decreasing of noise from any or all machines or machinery placed
in the Premises.
15. Each Tenant shall, at its expense, provide artificial light for the
employees of the Landlord while doing janitor service or other cleaning, and in
making repairs or alterations in said Premises.
16. The requirements of Tenant will be attended to only upon written
application at the office of the Building. Employees of Landlord shall not
receive or carry messages for or to any Tenant or other person nor contract with
or render free or paid services to any Tenant or Tenant's agent, employees, or
invitees.
17. Canvassing, soliciting, and peddling in the Building is prohibited
and each Tenant shall cooperate to prevent the same.
18. Landlord will not be responsible for lost, stolen, or damaged
property, equipment, money, or jewelry from Tenant's area or public rooms
regardless of whether such loss occurs when area is locked against entry or not,
except due to the negligence or willful misconduct of the Landlord, its agents,
employees or contractors.
19. Landlord specifically reserves the right to refuse admittance to the
Building from 6 p.m. to 8 a.m. daily, or on Saturdays, Sundays or legal
holidays, to any person or persons who cannot furnish satisfactory
identification, or to any person or persons who, for any other reason in the
Landlord's judgment, should be denied access to the Premises. Landlord, for the
protection of the Tenant and Tenant's effects may prescribe hours and intervals
during the night and on Saturdays, Sundays and holidays, when all persons
entering and departing the Building shall be required to enter their names, the
offices to which they are going or from which they are leaving, and the time of
entrance and departure in a register provided for the purpose by the Landlord.
20. Tenant shall remit the sum of TEN and NO/100 DOLLARS ($10.00) per
key/card to Landlord as security for any and all replacement buildings access
keys/cards provided to Tenant by Landlord, if Landlord elects, in its sole
discretion to install such system.
21. Landlord may refuse admission to the Building outside of ordinary
business hours to any person not known to Landlord or Landlord's agent in charge
or not having a pass issued by Landlord or not property identified, and may
require all persons admitted to or leaving the Building outside of ordinary
business hours to register. Tenants, employees, agents and visitors shall be
permitted to enter and leave the Building whenever appropriate arrangements have
been previously made between Landlord and Tenant with respect thereto. Each
tenant shall be responsible for all persons for whom he requests such permission
and shall be liable to Landlord for all acts of such persons. Any person whose
presence in the Building at any time shall, in the judgment of Landlord, be
prejudicial to the safety, character, reputation and interests of the Building
or its tenants may be denied access to the Building or may be ejected therefrom.
In case of invasion, riot, public excitement or other commotion, Landlord may
prevent all access to the Building during the continuance of the same, by
closing the doors or otherwise, for the safety of the tenants and protection of
property in the Building. Landlord may require any person leaving the Building
with any package or other object to exhibit a pass from the Tenant from whose
leased premises the package or object is being removed, but the establishment
and enforcement of such requirements shall not impose any responsibility on the
Landlord for the protection of any Tenant
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BLUE LAKE STANDARD LEASE
against the removal of property from the leased premises of Tenant. Landlord
shall in no way be liable to any Tenant for damages or loss arising from the
admission, exclusion or ejection of any person to or from Tenant's leased
premises or the Building under the provision of this rule, except due to the
negligence or willful misconduct of the Landlord, its agents, employees or
contractors.
22. Tenant shall not obtain or accept for use in its leased premises
ice, drinking water, food, beverage, towel, barbering, boot blacking, floor
polishing, lighting maintenance, cleaning or other similar services from any
persons not authorized by Landlord in writing to furnish such services.
23. There shall not be used in any space, or in the public halls of the
Building, either by Tenant or by jobbers or others, in the delivery or receipt
of merchandise, any hand trucks, except those equipped with rubber tires and
side guards.
24. Tenant shall not permit its employees, licensees and invitees to
loiter around the hallways, plazas, lobbies, stairways, elevators, front, roof
or any other part of the Building used in common by the occupants thereof nor
permit them to use the same for purposes of lunches, coffee breaks or other
similar activities.
25. Tenant shall not advertise or permit any advertising which, in
Landlord's reasonable opinion, tends to impair the reputation of the Building or
its desirability as a building for offices or for financial, insurance and other
institutions and businesses of like nature; and upon written notice from the
Landlord, Tenant shall refrain from or discontinue any such advertising.
26. Each tenant, before closing and leaving the said leased premises at
any time, shall see that all windows are closed. All tenants must observe strict
care not to leave their windows open when it rains, and for any default or
carelessness in these respects, or any of them, shall make good any injury
sustained by other tenants, and to Landlord for damage to paint, plastering, or
other parts of the Buildings, resulting from default or carelessness.
27. Landlord reserves the right to make such other and further
reasonable rules and regulations as in its judgment may from time to time be
needed for the safety, care and cleanliness of the Premises, and for the
preservation of good order therein and any such other or further rules and
regulations shall be binding upon the parties hereto with the same force and
effect as if they had been inserted herein at the time of the execution hereof.
28. Tenant covenants and agrees, at its sole cost and expense, to comply
with all present and future laws, orders and regulations of all state, federal,
municipal, and local governments, departments, commissions and boards regarding
the collection, sorting, separation, and recycling of waste products, garbage,
refuse, and trash. Tenant shall, as required, sort and separate such waste
products, garbage, refuse and trash into such categories as provided by law.
Each separately sorted category of waste products, garbage, refuse, and trash
shall be placed in separate receptacles reasonably approved by Landlord. Such
separate receptacles may, at the Landlord's option be removed from the Premises
in accordance with a collection schedule prescribed by law. Landlord reserves
the right to refuse to collect or accept from Tenant any waste products,
garbage, refuse or trash that is not separated and sorted and required by law
and to require Tenant to arrange for such collection at Tenant's sole cost and
expense, utilizing a contractor reasonably satisfactory to Landlord. Tenant
shall pay all costs, expenses, fines, penalties or damages that may be imposed
on Landlord or Tenant by reason of Tenant's failure to comply with the
provisions of this Section, and, at Tenant's sole cost and expense shall
indemnify, defend, and hold Landlord harmless (including legal fees and
expenses) from and against any actions, claims and suits arising from such
non-compliance, utilizing counsel reasonable satisfactory to Landlord.
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BLUE LAKE STANDARD LEASE
EXHIBIT "D-1"
CORPORATE RESOLUTIONS
The undersigned Officer of CYBEAR, INC., a Florida corporation
authorized to transact business in Florida (the "Corporation") hereby certifies
that the following is a true and correct copy of the Resolutions adopted at a
duly called meeting of the Directors of the Corporation held on _________, 1998,
at which a quorum of Directors were present and voting throughout:
"BE IT RESOLVED, that this Corporation enter into a Lease with BLUE
LAKE, LTD., (the "Landlord") for space in The Blue Lake Corporate
Center, Boca Raton, Florida.
"BE IF FURTHER RESOLVED, that the President or any other officer of this
Corporation, acting singly or together, be and hereby is and are
authorized and directed to negotiate the specific terms and conditions
of the Lease and the rent and charges in connection therewith and to
execute and deliver on behalf of this Corporation such Lease and such
other documents as may be necessary or required by Landlord with respect
to the Lease.
"BE IT FURTHER RESOLVED, that the foregoing Resolutions are in
conformity with the Articles of Incorporation and the By-Laws of the
Corporation, and are within its corporate powers. The authority given
hereunder shall be deemed retroactive to the extent necessary or
convenient for the full effectuation of these Resolutions. In such
event, all acts performed prior to the adoption of these Resolutions,
but which are necessary or convenient for the full effectuation of these
Resolutions, are hereby ratified, adopted and affirmed. The authority
conferred by these Resolutions shall continue in full force and effect
until actual written notice of revocation of these Resolutions shall
have been received by the Landlord."
I FURTHER CERTIFY (i) that the above Resolutions were duly enacted by
the Board of Directors called for that purpose and held in accordance with the
Articles of Incorporation and By-Laws of the Corporation and the statutes of the
State of the incorporation of the Corporation; (ii) that the Directors of the
Corporation have full power and authority to bind the Corporation pursuant
thereto; and (iii) that the Resolutions are in full force and effect and have
not been altered, modified, rescinded or revoked in any way.
IN WITNESS WHEREOF, I have affixed my name as _______________ of the
Corporation, and have affixed the corporate seal of the Corporation this
_________ day of ________________, 1998.
CYBEAR, INC.
By:____________________________________
Print Name:____________________________
Title:_________________________________
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BLUE LAKE STANDARD LEASE
EXHIBIT "F"
CAMPUS SKETCH
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BLUE LAKE STANDARD LEASE
EXHIBIT "G"
STAND-BY ELECTRIC GENERATOR RIDER SUBSCRIPTION AGREEMENT
BLUE LAKE CORPORATE CENTER
SUPPLEMENT TO LEASE
FOR SUBSCRIPTION TO
STANDBY POWER FACILITIES
This Supplement to Lease for Subscription to Standby Power Facilities
Program ("Supplement") is made as of _________, 199__ ("Agreement Date") between
BLUE LAKE, LTD., a Florida limited partnership, Suite 100, ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇,
▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ ("Landlord") and ______________ ("Tenant"),
_____________________, Boca Raton, Florida.
WHEREAS, Tenant has entered into a lease with Landlord dated
_____________ ("Lease") for the premises described on EXHIBIT "A" attached
hereto and made a part hereof ("Premises").
WHEREAS, Landlord has elected to install standby electric power
generators ("Generator(s)") to provide for standby power service ("Standby
Power") to subscribing tenants of the Blue Lake Corporate Center ("Center") as
part of Landlord's Standby Power Facilities Program ("Power Program"). Tenants
of the Center may subscribe ("Subscribing Tenants") until the Generator(s)
capacity available to tenants has been fully subscribed or otherwise reserved by
Landlord.
WHEREAS, the Tenant has elected to subscribe to the Power Program, and
Landlord has agreed to such subscription, as provided in this Supplement to the
Lease for its Premises.
NOW, THEREFORE, in consideration of the mutual covenants contained
herein, the Landlord and the Tenant hereby agree as follows:
TERMS
1. RELATIONSHIP TO LEASE. This Supplement modifies and amends the Lease
as specifically provided herein. In all other respects the Lease is ratified,
remains in full force and effect without change, and the terms of the Lease
shall be deemed incorporated herein. Capitalized terms not defined herein shall
have the meanings set forth in the Lease. In the event of any inconsistencies
between the Lease and this Supplement, as it relates or applies to the Power
Program, the terms of this Supplement shall control.
2. TERM. The term of this Supplement shall commence on the date hereof
and continue for the balance of the Lease Term and any renewals thereof.
3. CAPACITY RESERVATION AND RESERVATION CHARGE. Tenant hereby subscribes
to the Power Program, and Landlord hereby accepts such subscription, for the
reservation of _______________ megawatts of Generator capacity ("Capacity
Reservation") for the Premises. Tenant's Capacity Reservation is expressly
conditioned on Tenant paying to Landlord on or before ______________, 199__
("Due Date"), the sum of $_____________ ("Capacity Reservation Charge"), in
federal wire transfer funds. If the Tenant fails to pay the Capacity Reservation
Charge on or before the Due Date, the Capacity Reservation shall be canceled,
and this Supplement shall automatically terminate without the requirement of
further notice or demand by Landlord, in which event Landlord may sell to,
and/or reserve for the Capacity Reservation to other Subscribing Tenant(s). To
the extent that the Generators have been placed in service prior to the
Agreement Date, the Tenant's Capacity Reservation shall not become effective and
the Tenant shall have no right to Standby Power, unless and until the Capacity
Reservation Charge is paid to Landlord, on or before the Due Date. The Capacity
Reservation Charge is neither refundable nor subject to proration or abatement.
4. SERVED SYSTEMS.
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BLUE LAKE STANDARD LEASE
a. Tenant acknowledges that the Standby Power for Tenant's
Capacity Reservation shall be limited to serving the equipment and systems
described on EXHIBIT "B" attached hereto and made a part hereof ("Served
Systems"). Tenant acknowledges and agrees that, the Capacity Reservation
includes Standby Power for Center air conditioning services ("Center AC") to the
Premises, which represents forty (40%) percent ("Center AC Capacity") of the
Capacity Reservation (except if, and only to the extent that, Tenant has
installed, pursuant to the Lease, a separate or supplemental air conditioning
system for any portion of the Premises.) All Served Systems shall be connected
to electrical panels and/or breakers separate from the main panels and breakers
for the Premises, so as to permit the disconnection of all electrical systems
and equipment, other than Served Systems, from the Standby Power.
b. In the event that Center AC is not supplied to the Premises
because Tenant, under the Lease, has installed a separate or supplemental air
conditioning system ("Premises AC"), then Tenant's Capacity Reservation may be
applied to the Premises AC to the extent that Center AC Capacity is not used for
the Premises.
c. Tenant shall solely be responsible for the compatibility with
the Generators, of the Served Systems, including but not limited to, electrical
systems, wire, conduit, panels, transformers, switchgear, and breakers in the
Premises, and Tenant's equipment (including but not limited to trade equipment,
office equipment, and other electrically-powered equipment) to be connected to
the Standby Power, Tenant, prior to the Served Systems being connected to the
Generator, shall make, at Tenant's sole cost and expense, any and all
modifications and enhancements to the Served Systems necessary for such to be
compatible with the Generators. Landlord shall have no liability or
responsibility for damage or injury to Served Systems or any of Tenant's
Equipment or personnel, due to such incompatibility, or for any resulting
business interruption (and any direct, indirect, consequential, or special
damages related thereto), such being expressly waived by Tenant.
5. GENERATOR OPERATION.
a. SERVICE COMMENCEMENT DATE. The Landlord shall place the
Generators in operation on or before December 31, 1998 ("Service Commencement
Date"), subject to Force Majeure (as hereinafter defined).
b. TENANT'S TEMPORARY GENERATORS. If Landlord has, under separate
agreement, permitted Tenant to operate a mobile, temporary backup generator for
its Premises, Tenant shall, within ten (10) days after the Generators have been
placed in operation, disconnect such mobile, temporary backup generator and
remove such from Landlord's property, and shall restore the Landlord's property
to the condition existing prior to the installation of such mobile temporary
backup generators. Tenant indemnifies Landlord from and against any and all
claims, demands, responsibility, liability, damages, fines, penalties, costs and
expenses; including but not limited to reasonable attorney's fees and costs,
arising from or related to Tenant's installation, use, operation or removal of
the Tenant's mobile, temporary backup generators, including but not limited to
any violations of environmental law or the contamination of Landlord's property
with hazardous or toxic materials or with petroleum products.
c. EMERGENCY SERVICE USE. The Generators are only intended for
limited emergency backup use and are not designed for, nor does the Generators'
fuel storage tank have sufficient capacity for, more than temporary, limited use
of the Generators.
d. STARTUP DELAY. In the event of a power failure ("Outage"), the
Generators are designed to start up over [A PERIOD OF ONE TO THIRTY MINUTES].
The Tenant acknowledges and agrees that the Landlord shall not be liable or
responsible for any resulting direct, indirect, consequential, or special
damages that may occur due to an interruption of Tenant's business or business
operations, or to Tenant's Equipment, or to Served Systems or any of the
Premises due to any delay in the startup of the Generators. Tenant shall be
responsible to provide for its own backup uniform power supply ("UPS") to its
Premises and the Served Systems to address any startup delay of the Generators.
e. EMERGENCY REPRESENTATIVE: Tenant designates __________________
and ___________________ as its "Emergency Representative(s)" for contact by
Landlord in the event of an Outage. The Emergency Representative(s) shall have
full authority to act on behalf of Tenant in the
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BLUE LAKE STANDARD LEASE
event of an Outage or other emergency and shall be required to be available to
Landlord in the event of an emergency or an Outage. Tenant shall provide to
Landlord in writing after- hours contact information for its Emergency
Representatives, including but not limited to home addresses and telephone
numbers, cellular telephone numbers and pager numbers. Notices to Tenant under
this Supplement shall be deemed made to Tenant if delivered or made to the
Emergency Representative. Tenant shall notify the Landlord in writing of any
changes in the after-hours contact information of the Emergency Representative.
Tenant shall provide written notice to Landlord of any changes in its Emergency
Representative(s) or in the appointment of temporary Emergency Representative(s)
in the absence of those otherwise identified by the Tenant pursuant hereto,
together with their contact information as provided above. The Emergency
Representative(s) shall participate in emergency drills and, in the event of an
emergency or an Outage, shall be available to meet with Landlord and the
emergency representatives of other tenants to address emergency procedures
implemented by Landlord as a result thereof.
e. GENERATOR OPERATION DURING EXTENDED OUTAGE. For the purposes
hereof, any Outage lasting more than one hour shall be referred to as an
"Extended Outage". Tenant acknowledges and agrees that, at the contemplated
total capacity of the Generators, the Generators' fuel storage capacity for the
Blue Lake Corporate Center is not sufficient for continuous or extended use of
the Generators at the capacity of the Power Program (as may be increased as
Generator capacity is increased from time to time) for all potential Subscribing
Tenants. In the event of an Extended Outage or a series of Outages, Landlord
shall have the right, but not the obligation, to regulate, reduce, and limit the
availability of Standby Power to Subscribing Tenants, including but not limited
to Tenant in Landlord's sole and absolute discretion, to essential needs in
order to meet the Federal Emergency Management Agency's ("FEMA") [seven (7)] day
generator recommendations, the safety of tenants of the Center, the availability
of fuel, or the operating conditions and requirements of the Generators.
In order to manage the Power Program in the best interests of the
Center, the Landlord has established the following rules, procedures and
protocols for responding to an Extended Outage:
(1) DEFINITIONS:
LEVEL ONE OUTAGE: An Extended Outage lasting more than one hour,
but anticipated by Landlord, in Landlord's sole judgement and
discretion, to last less than three (3) hours.
LEVEL TWO OUTAGE: An Extended Outage lasting or anticipated by
Landlord, in Landlord's sole judgement and discretion, to last
more than, three (3) hours, but less than 24 hours.
LEVEL THREE OUTAGE: An Extended Outage lasting or anticipated by
Landlord, in Landlord's sole judgement and discretion, to last
more than 24 hours.
(2) EXTENDED OUTAGE PROTOCOLS:
In the event of an Extended Outage, the Landlord has established
the following emergency protocols ("Protocols") for each level of
Extended Outage. Tenant shall comply with the Protocols as
invoked by Landlord from time to time.
LEVEL ONE OUTAGE: Tenant's Served Systems may operate as
anticipated under this Supplement. The Landlord shall notify the
Tenant of the occurrence of a Level One Outage.
LEVEL TWO OUTAGE: Tenant's Served Systems may operate as
anticipated under this Supplement. Tenant shall turn off or
disconnect all non-Served Systems within one (1) hour from
Landlord's notice of Level Two Outage. Tenant's personnel not
required in the operation of the Served Systems may be required
by the Landlord to immediately leave the Premises and the Center,
and Tenant shall comply with Landlord's emergency procedures and
rules promulgated from time to time in accordance with the Lease.
The Landlord may, in Landlord's sole discretion, (i) reduce or
eliminate Center AC, (ii) reduce or eliminate non-emergency
Common Area systems and services (including but not limited to
operation of the Food Court, conference centers, and other
services provided by the
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BLUE LAKE STANDARD LEASE
Landlord to the Center), and (iii) require that Tenant turn off
or disconnect non-essential Served Systems, which shall be
accomplished within one (1) to three (3) hours from Landlord's
request to Tenant. The Landlord shall regularly update the
Tenant's Emergency Representative on the changes in status and
anticipated duration of the Level Two Outage.
LEVEL THREE OUTAGE: Only essential Served Systems may operate as
anticipated under this Supplement. Tenant shall turn off or
disconnect all non-essential Served Systems and non-Served
Systems within one (1) hour from Landlord's notice of a Level
Three Outage. Tenant's personnel not required in the operation of
the Served Systems shall immediately leave the Premises and the
Center, and Tenant shall comply with Landlord's emergency
procedures and rules promulgated from time to time in accordance
with the Lease. The Landlord may, in Landlord's sole discretion,
(i) reduce or eliminate Center AC, (ii) reduce or eliminate
non-emergency Common Area systems and services (including but not
limited to operation of the Food Court, conference centers, and
other services provided by the Landlord to the Center), and (iii)
require that Tenant turn off, reduce, or disconnect all Served
Systems as the availability of necessary fuel supply may require.
During a Level Three Outage, the Landlord shall regularly report
to Tenant as to the status of the Extended Outage, anticipated
actions by Landlord, and the availability of fuel supplies, and
shall use all reasonable efforts to notify Tenant of an impending
shut down of Standby Power at least sixty (60) minutes prior to
such shut down.
The Tenant acknowledges and agrees that, upon Landlord's request, the
Tenant will immediately disconnect all non-essential Served Systems from the
Standby Power. Further, Tenant acknowledges and agrees that, in the event of a
Level Three Outage, fuel may become exhausted and additional fuel unavailable,
and, therefore, the Generators will be shut down and Standby Power discontinued
to the Premises, Served Systems and all Tenant Equipment. Tenant agrees to
cooperate with Landlord in maximizing the fuel supplies and in obtaining
deliveries of additional fuel supplies.
Tenant hereby waives, releases and holds harmless the Landlord, its
partners, affiliates, subsidiaries, officers, employees, and agents from all
claims, demands, damages, liability, costs and expenses with respect to the
Landlord's regulation, reduction, limitation, and discontinuation of the Standby
Power, Landlord's decisions, acts and omissions relating thereto, or the
inability to deliver the Standby Power hereunder.
f. GENERATOR MAINTENANCE PROGRAM. Landlord intends to enter into
a service agreement for the maintenance of the Generators with a generator
maintenance company selected by Landlord in its sole and absolute discretion.
The service agreement shall provide for maintenance of the Generators in
accordance with the National Fire Protection Agency Level 2 standards for
emergency generators. Copies of the maintenance and repair records for the
Generators shall be kept at the offices of Blue Lake Management, Inc.
("Management") for inspection by the Tenant upon reasonable written notice
during business normal hours.
6. EXCESS DEMAND LOAD. Tenant acknowledges and agrees that the Landlord
is providing Standby Power to other Subscribing Tenants and that Tenant may not
exceed its Capacity Reservation during any Outage. If the Tenant exceeds its
Capacity Reservation during an Outage ("Excess Demand"), Landlord may, in
Landlord's sole and absolute discretion: (i) require that Tenant immediately
disconnect non-essential Served Equipment and reduce the actual load to the
Capacity Reservation, (ii) if Tenant fails to do so immediately, Landlord may
reduce Standby Power to the Premises so that the actual load is at the Capacity
Reservation, or (iii) if there is sufficient Generator capacity for other
Subscribing Tenants, as Landlord shall determine in its sole and absolute
discretion, charge the Tenant an additional fee for the Excess Demand equal to
200% of the then current Capacity Reservation Fee prorated for the actual load
in excess of the Capacity Reservation ("Excess Demand Fee"). All of the
foregoing are in addition to Landlord's other rights and remedies under this
Supplement and at law or in equity, and, further, are in addition to Protocols
implemented by Landlord in the event of an Extended Outage. Such Excess Demand
Fee shall be billed by Landlord and paid by Tenant as Additional Rent under the
Lease.
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BLUE LAKE STANDARD LEASE
7. USE CHARGES.
a. The Tenant shall pay for fuel consumed by the Generators
during an Extended Outage in proportion of its Capacity Reservation to the total
of all Capacity Reservations of Subscribing Tenants. The cost of fuel for
non-Extended Outages shall be charged as an Operating Expense under the Lease.
b. All other costs of maintaining, repairing, testing and
servicing the Generators shall be treated, budgeted and invoiced as Operating
Expenses under the Lease; however, such costs shall not be limited by any
provisions of the Lease limiting Operating Expenses or Overhead Rent.
8. COVENANTS OF TENANT. The Tenant covenants that:
a. The Tenant shall not cause or voluntarily permit any
modification or alteration to any of the Served Systems or the Premises which
would have the effect of increasing the level of electrical demand for the
Premises or which would adversely affect the Generators or Landlord's ability to
provide the Standby Power.
b. The Tenant shall maintain, repair and replace the Served
Systems as necessary and appropriate in accordance with prudent and sound
engineering practices so that the Served Systems is in proper condition to
receive, distribute, and or utilize the Standby Power without damage to Served
Systems or the Generators.
9. DEFAULT BY TENANT; TERMINATION BY LANDLORD. Landlord may terminate
this Supplement, discontinue the delivery of Standby Power to Tenant, and remove
the any and all equipment connecting the Premises to the Generators, upon the
occurrence of any one of the following events:
a. Failure of Tenant to pay any charges, including but not
limited to the Capacity Reservation Charge, due hereunder, as and when due.
b. Default by Tenant under the Lease, which is not cured within
any applicable cure periods (so ling as the Lease is also terminated).
c. Tenant's actual electric load connected to the Generators
increases in excess of the Capacity Reservation and Tenant fails to immediately
disconnect such of Tenant's Equipment so as to reduce the actual load below the
Capacity Reservation or enter into an agreement with Landlord in Landlord's sole
and absolute discretion and providing for an increase in Tenant's Capacity
Reservation, subject to availability and price.
10. NO WAIVER. The failure of a party to enforce any term of this
Supplement or a party's waiver of the nonperformance of a term by the other
party shall not be construed as a general waiver or amendment of that term, but
the term shall remain in effect and enforceable in the future. This Supplement
can only be amended by written agreement of the Parties.
11. INTERRUPTION OF BACKUP SERVICE. Landlord shall have the right to
temporarily interrupt the delivery of Standby Power to the Premises for purposes
of inspection, maintenance, repair, replacement, construction, installation,
removal or alteration of the Generators and related equipment or to prevent and
emergency situation from arising. Landlord shall give twenty-four (24) hours
notice to Tenant of any planned interruption of more than seven (7) days in
delivery of Standby Power reasonably in advance of such planned interruption.
12. PERMITTED ASSIGNMENT.
a. This Supplement, and the Capacity Reservation, shall not be
transferred, assigned, subcontracted, or sold by Tenant, in whole or part, other
than in connection with a permitted Transfer of Lease to a permitted Transferee,
so long as the permitted Transferee does not require or present a Demand Load
greater than that of the Tenant.
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BLUE LAKE STANDARD LEASE
b. The Landlord may assign its obligations, rights and duties
under this Supplement, separate and apart from the Lease, without the consent of
the Tenant. In such event, the Lease shall continue in full force and effect
without change, abatement or offset, and Landlord shall be automatically
relieved of all liability and obligations under this Supplement so long as such
are expressly assumed in writing by the assignee.
13. FORCE MAJEURE. The obligations of Landlord and Tenant hereunder, and
Landlord's ability to install, maintain, and operate the Generators and to
provide the Standby Power pursuant hereto are subject to the occurrence of
events or circumstances that are beyond the reasonable control of Landlord
and/or Tenant, as applicable, or their respective agents, employees or
contractors, including, without limitation, strikes, lockouts or picketing
(legal or illegal); governmental action and condemnation; riot, civil commotion,
insurrection, and war; fire or other casualty, accident, acts of God or the
enemy; adverse weather conditions; unavailability of fuel, power, supplies or
materials; the passage or reasonably
unexpected interpretation or application of any statute, law, regulation or
moratorium of any governmental restriction or order; or delays in issuance of
permits or approvals.
IN WITNESS WHEREOF, the parties hereto have executed this Supplement as
of the day and year first above written.
LANDLORD:
BLUE LAKE, LTD., a Florida limited partnership
By: BLUE LAKE, INC., a Florida corporation,
general partner.
By:__________________________________
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
Executive Vice President
Date:_______________
TENANT:
By:__________________________________
Name:________________________________
Its:_________________________________
Date:__________________________
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BLUE LAKE STANDARD LEASE
EXHIBIT "H"
SIGNAGE CRITERIA
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BLUE LAKE STANDARD LEASE
EXHIBIT "I"
RENT COMMENCEMENT/EXPIRATION CERTIFICATE
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BLUE LAKE STANDARD LEASE
EXHIBIT "J"
SUBORDINATION NON-DISTURBANCE AGREEMENTS
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BLUE LAKE STANDARD LEASE
EXHIBIT "K"
LEASE GUARANTY
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BLUE LAKE STANDARD LEASE