Res 2002-046 - Laserfiche WebLink

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Tenant shall have the right, after the expiration of the first lease year during the Renewal Term, to terminate the Lease, as amended hereby, by providing Landlord with sixty (60) days' prior written notice. Accompanying such notice shall be payment of a termination fee in an an10unt equal to $333.33 multiplied by the number of months remaining in the Renewal Term after the expiration of the referenced sixty (60) day notification." 9. Tenant Improvements. Except as set forth herein, Tenant has accepted the Premises "AS IS" and acknowledges and agrees Landlord has fulfilled its obligations under Exhibit "A" of the Lease and under Amendment #1 to Lease Agreement and shall have no further obligation to construct any tenant improvements to the Premises or make any alterations or additions thereto. Landlord shall perform such tenant improvements as agreed between Landlord and Tenant, at a cost not to exceed $23,866.00 including construction management fees, all as shown on Exhibit A to this Amendment. All costs for tenant improvements and construction management fees exceeding such amount shall be borne by Tenant, payable immediately upon demand. Any work not specifically described in this paragraph which may be required to finish the Premises in the condition desired by Tenant shall be an obligation of Tenant. If requested by Landlord, Tenant shall approve all expenditures for tenant improvements prior to the commencement of any tenant improvement work. 10. Extension Option. Provided that Tenant is not in default of any of the terms, covenants and conditions hereof, and this Lease has not been assigned or the Premises (or a part thereof) sublet, Tenant shall have the right and option to extend the Renewal Term for one (1) additional term of sixty (60) months. Such extension of the Renewal Term shall be on the same terms, covenants and conditions as provided for in the Renewal Term except for this paragraph and except that the rental during the extended term shall be at the fair market rental then in effect on equivalent properties, of equivalent size, in equivalent areas (but in no event less than the Base Rent rate specified in Paragraph 3 hereof). Tenant shall deliver written notice Landlord of Tenant's intent to exercise the renewal option granted herein not more than two hundred seventy (270) days nor less than one hundred eighty (180) days prior to the expiration of the Renewal Term. In the event Tenant fails to deliver such written notice within the time period set forth above, then Tenant's right to extend the Renewal Term hereof shall expire and be of no further force and effect. In the event Landlord and Tenant fail to agree in writing upon the fair market rental within fifteen (15) days after exercise by Tenant of this renewal option, Tenant's right hereunder to extend the Renewal Term shall become null and void. 11. Brokers. Each party represents and warrants to the other that neither it nor its officers or agents nor anyone acting on its behalf has dealt with any real estate broker other than Corrigan Real Estate Services, Property Manager, who shall be paid a commission by Landlord in accordance with a separate agreement with Landlord, in the negotiating or making of this Amendment, and each party agrees to indemnify and hold the other party, its agents, employees, partners, directors, shareholders and independent contractors harmless from all liabilities, costs, demands, judgments, settlements, claims, and losses, including reasonable attorneys' fees and costs, incurred by such other party in - 3- C:\TEMP\#546902 vI - Renewal- WIC (Sequin 5)J.DOC