HomeMy WebLinkAbout20210272.tiff RESOLUTION
RE: APPROVE LEASE AGREEMENT (822 7TH STREET, SUITE 520, GREELEY) AND
AUTHORIZE CHAIR TO SIGN — PEEK GOLDSTONE, LLC
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, the Board has been presented with a Lease Agreement (822 7th Street,
Suite 520, Greeley) between the County of Weld, State of Colorado, by and through the Board of
County Commissioners of Weld County, on behalf of the Department of Buildings and Grounds,
and Peek Goldstone, LLC, commencing March 1, 2021, and ending February 28, 2023, with
further terms and conditions being as stated in said lease agreement, and
WHEREAS, after review, the Board deems it advisable to approve said lease agreement,
a copy of which is attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the Office Lease Agreement (822 7th Street, Greeley) between the
County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld
County, on behalf of the Department of Buildings and Grounds, and Peek Goldstone, LLC, be,
and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized
to sign said lease agreement.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 27th day of January, A.D., 2021.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST: idt,L1 �Cl�o•� % - �
Steve oreno, Chair
Weld County Clerk to the Board
S James, Pro-Tem
Deputy Clerk to the Boar•400"+i. p p
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Date of signature: /a2/2I - r
cc:BG(T-rISG) 2021-0272
BG0023 02/014/21
1861 l'
DEPARTMENT OF BUILDINGS AND GROUNDS
14 ... 1 PHONE: (970) 304-6531
� � V ,J� FAX: (970)304-6532
vil: C O U N T Yr WEBSITE: www.co.weld.co.us
1 1105 H STREET
P.O. BOX 758
GREELEY, COLORADO 80632
January 21, 2021
To: Board of County Commissioners
From:Toby Taylor
Subject: Peek Goldstone LLC Lease
The Peek Goldstone LLC are current tenants in the County building located at 822 7th Street. This
agreement is for a lease for two-year from March 1,2021 through February 28,2023. The first-year rental
rate is for$3,156.53 per month and includes a 3% increase subsequent years. In addition, there is a 2-
year renewal option. Buildings&Grounds is recommending approval of the lease.
If you have any questions, please contact me at extension 2023.
Sincerely,
Toby Taylor
Director
2021-0272
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LEASE AGREEMENT
THIS LEASE AGREEMENT is made and entered into this 18th day of January 2021,by
and between the County of Weld, a body corporate and politic of the State of Colorado, by and
through its Board of County Commissioners,whose address is 1150 "0" Street,Greeley,Colorado
80631, hereinafter referred to as "County" or "Landlord", and Peek Goldstone LLC, whose
address is 822 7th Street, Suite 520, Greeley, Colorado 80631, hereinafter referred to as
"Tenant".
WHEREAS, County owns property located at 822 7th Street in Greeley Colorado (the
"Chase Bank Building" or the "Property"), and
WHEREAS, County currently leases space to Tenant within the Property, most recently
amended by agreement of County and Tenant on February 28, 2020, which expires on February
28, 2021 (the "Prior Lease"), and
WHEREAS, Tenant desires to lease portions of the Property, pursuant to the terms and
conditions contained herein.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained
herein,the parties hereto agree as follows:
1. TERMS AND DEFINITIONS; SCHEDULES.
1 .1 TERMS AND DEFINITIONS.
1.1.1 LEASED PREMISES shall mean Suite 520, as described in Schedule 1 and
Schedule 1-A attached, located in the Building.
1.1.2 BUILDING shall mean the office building located at 822 7th Street, Greeley,
Colorado, which is a part of the Project.
1.1.3 PROJECT shall mean the Building, Common Areas, other areas and
appurtenances, plus the real property, as described in Schedule 1 attached, on which the
same is situated.
1.1.4 COMMON AREAS shall mean those areas of the Project which Tenant shall
have the right to use in common with the Landlord and other tenants of the Building
including: the Building's entrances, lobbies, corridors,main elevators, access ways,public
and fire stairways,and lavatories;roads,driveways,exterior ramps,parking areas and other
similar areas. Tenant's use of the Common Areas is subject to the terms and conditions of
this Lease and the attached Schedules and is limited to such use necessary for Tenant to
obtain full use and enjoyment of the Leased Premises for the Permitted Purpose.
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oZ902- 02.72-.
1.1.5 TENANT'S SQUARE FOOTAGE shall mean a portion of the fifth floor of the
Building consisting of approximately Two Thousand Four Hundred Ninety-Two(2,492)
Rentable Square Feet including Tenant's pro rata share of the Common Areas. Landlord
and Tenant agree that the total Rentable Square Footage within the Building comprises
One Hundred Nineteen Thousand One Hundred Fifty Nine (119,159) square feet.
1.1.6 LEASE COMMENCEMENT DATE shall be the 1st day of March, 2021.
"Lease Expiration Date" shall be the 28th day of February,2023. "Lease Term" shall mean
the twelve (12) month period between Lease Commencement Date and Lease Expiration
Date.The Prior Lease shall remain in effect until the Lease Commencement Date described
in this section 1.1.6.
1.1.7 SECURITY DEPOSIT is Two Thousand Four Hundred Ninety-Two
Dollars and no/100 ($2,492.00),which Landlord recognizes has been paid by Tenant.
1.1.8 GROSS RENT shall refer to the basic rental payments payable by Tenant to
Landlord, as provided in Schedule 5 attached.
1.1.9 TENANT'S PRO RATA SHARE shall mean the ratio that Tenant's Square
Footage bears to the total Rentable Square Footage of the Building of One Hundred
Nineteen Thousand One Hundred Fifty Nine (119,159) square feet, or approximately Two
& 09/100 percent (2.09%),which may be adjusted pursuant to section 7(c),below.
1.1.10 OPERATING COSTS: Not Applicable.
1.1.11 PERMITTED PURPOSE means that Tenant may use the Leased Premises
for general office purposes and any lawful purpose incidental thereto.
1.1.12 MANAGING AGENT shall mean the Director of the Weld County
Department of Buildings and Grounds, 1105 H Street, Greeley, Colorado 80631 or any
other agent specified in writing by Landlord pursuant to the provisions for notice in this
Lease.
1.1.13 LANDLORD'S MAILING ADDRESS: 1150 '0' Street, Greeley, Colorado
80632.
1.1.14 TENANT'S MAILING ADDRESS: 822 7th Street, Suite 520, Greeley,
Colorado 80631.
1.2 SCHEDULES. Unless otherwise indicated, the terms of schedules, exhibits and
addenda, if any, attached or added hereto shall control over any inconsistent provisions in the
sections of this Lease.
2. PREMISES.
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2.1 LEASE OF PREMISES. In consideration of the Rent (as that term is defined in
section 3.1 hereof) and the provisions of this Lease, Landlord leases to Tenant and Tenant accepts
from Landlord the Leased Premises, subject to the terms and conditions set forth herein.
2 .2 PRIOR OCCUPANCY. Tenant shall not occupy the Leased Premises prior to the
Lease Commencement Date except with the express prior written consent of Landlord. If Tenant
shall occupy the Leased Premises prior to the Lease Commencement Date, all covenants and
conditions of this Lease shall be binding on the parties commencing upon the date of such prior
occupancy.Notwithstanding the foregoing,if Tenant currently occupies any portion of the Leased
Premises pursuant to a valid, unexpired Prior Lease, the terms of such Prior Lease shall govern
until the Lease Commencement Date.
3. PAYMENT OF RENT AND OPERATING COSTS.
3.1 LEASE TERM RENT.
3. 1. 1 GROSS RENT Each monthly installment of Gross Rent in the amount set
forth in Schedule 5 shall be payable no later than the first(1st)calendar day of each month.
Monthly installments for any fractional calendar month, at the beginning or end of the
Lease Term or any Renewal Term, shall be prorated based on the number of days in such
month. Gross Rent, together with all other amounts payable by Tenant to Landlord under
this Lease, shall be sometimes referred to collectively as "Rent." Tenant shall pay all Rent,
without deduction or set off, to Landlord or Managing Agent at such place as may be
specified by Landlord from time to time. Upon executing this Lease, Tenant shall pay the
Security Deposit, if applicable, as provided in section 1.1.7 hereof.
3.1.2 LATE PAYMENT Rent not paid within ten (10) days of the date when due
hereunder shall be subject to a late charge until paid equal to one and one-half percent(1%2
%)per month from the date when due, until paid. In addition, if any installment of Rent is
not paid within ten(10)days of the date when due hereunder,Tenant shall pay to Landlord
a late payment charge equal to ten percent(10%)of the amount of such delinquent payment
of Rent in addition to the installment of Rent then owing. Such charges shall be payable
regardless of whether or not a notice of default or notice of termination has been given by
Landlord. Tenant acknowledges that late payment of Rent will cause Landlord to incur
costs not contemplated by this Lease,the exact amount of which is extremely difficult and
impracticable to ascertain at this time.Accordingly,the parties agree that the foregoing late
charges represent a reasonable estimate of the loss and expense to be suffered by Landlord
by reason of Tenant's late payment.
3.2 SECURITY DEPOSIT. Tenant has paid to Landlord Two Thousand Four Hundred
Ninety-Two Dollars and no/100 ($2,492.00) as security for Tenant's payment of rent and
performance of the other terms and conditions of this Lease. Landlord may deduct from such
amount for the reasonable cost of repairs to the Leased Premises(ordinary wear and tear excepted),
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for any rent delinquent under the terms hereof, and for any sum advanced by Landlord to cure any
default of Tenant hereunder. If deductions occur,Tenant shall,within fifteen(15)days after notice
from Landlord, redeposit with Landlord such amounts so expended so as to maintain the deposit
in its original amount. Failure to do so shall be deemed a failure to pay rent under the terms hereof.
Nothing herein contained shall limit the liability of Tenant as to any damage to the Leased
Premises, and Tenant shall be responsible for the total amount of any damage and/or loss
occasioned by actions of Tenant. Should the Tenant faithfully and fully comply with all the terms
and provisions of this Lease, the security deposit or any balance thereof shall be returned to the
Tenant or, at the option of Landlord, to the last assignee of the Tenant's interest in the Leased
Premises, within sixty (60) days after the expiration of the final term of this Lease. The Landlord
may deliver the security deposit to any purchaser of the Landlord's interest in the Leased Premises,
and upon giving notice to the Tenant of such transfer,the Landlord shall be discharged from further
liability with respect to the security deposit. The security deposit shall not be deemed to be
liquidated damages, and if the claims of Landlord exceed the security deposit, the Tenant shall
remain liable for the balance of any such claim. Landlord shall not be required to pay Tenant any
interest on said deposit and may commingle said deposit with other funds of Landlord.
4. IMPROVEMENTS; POSSESSION.
4.1 IMPROVEMENTS TO LEASED PREMISES. The Work Letter Agreement
(Schedule 1-B) describes the improvements, if any, to be constructed by Landlord in the Leased
Premises and the expenses to be incurred as between Landlord and Tenant for their construction.
4.2 COMMENCEMENT OF POSSESSION. If the Leased Premises are not
Substantially Complete (as defined in Schedule 1-B), by the scheduled Lease Commencement
Date, subject only to items which do not materially affect the use thereof, then the Lease
Commencement Date shall be extended to the date on which Landlord shall notify Tenant that the
Leased Premises are Substantially Complete. If Landlord fails to cause the Leased Premises to be
Substantially Complete at the time of the scheduled Lease Commencement Date, (a) neither
Landlord nor Landlord's agents, officers, employees or contractors shall be liable for any damage,
loss, liability or expense caused thereby, (b) nor shall this Lease become void or voidable unless
such failure continues for more than thirty (30) days after such scheduled Lease Commencement
Date,in which case, Tenant shall have the right to terminate this Lease immediately; provided that
the time for Landlord to perform shall be extended by Unavoidable Delay (as defined in section
13.10 of this Lease). Prior to occupying the Leased Premises, Tenant shall execute and deliver to
Landlord a letter acknowledging the Lease Commencement Date and certifying that the Leasehold
Improvements are Substantially Complete and that Tenant has examined and accepted the Leased
Premises. Tenant hereby authorizes any agent of Tenant who receives the keys to the Leased
Premises on behalf of Tenant to execute and deliver such letter in Tenant's name. If Tenant fails
to deliver such letter, Tenant shall conclusively be deemed to have made such acknowledgment
and certification by accepting the keys to the Leased Premises.
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5.1 PROJECT SERVICES.
5.1 PROJECT SERVICES. Landlord shall furnish:
5.1.1 UTILITY SERVICES. The utility services are listed on Schedule 3 ("Utility
Services"). Should Tenant, in Landlord's reasonable judgment, use additional, unusual or
excessive Utility Services at times other than those specified in Schedule 3 attached hereto,
Landlord reserves the right to charge for such additional,unusual or excess services at rates
established by Landlord, from time to time, for such services.
5.1.2 JANITORIAL AND MAINTENANCE SERVICES. Janitorial services within
the Common Areas and Leased Premises and the proper maintenance and repair of all
exterior areas, including lighting, landscaping, cleaning, painting, maintenance and repair
of the exterior of the Project, its structural members, roof, floor and latent defects in the
manner set forth on Schedule 4 ("Janitorial and Maintenance Services").
5.1.3 PROJECT SERVICES. Utility Services and Janitorial and Maintenance
Services, described above, shall be collectively referred to as "Project Services."
5.2 INTERRUPTION OF SERVICES. Landlord does not warrant that any of the Project
Services will be free from interruption to the extent that such interruption is beyond the reasonable
control of Landlord, or the result of an emergency. Upon reasonable advance notice to Tenant,
except in the case of an emergency, any Project Service may be suspended or limited by reason of
accident or of necessary repairs,alterations or improvements,or by strikes or lockouts,or by reason
of operation of law,or causes beyond the reasonable control of Landlord. Subject to possible Rent
abatement as may be provided pursuant to the conditions described in section 8, and except as
hereinafter specifically provided in this section 5.2, any such interruption or discontinuance of
such Project Services shall not be deemed a disturbance of Tenant's use and possession of the
Leased Premises,or render Landlord liable to Tenant for damages,abatement of Rent or otherwise,
or relieve Tenant from performance of Tenant's obligations under this Lease. However, Landlord
shall use its best efforts to maintain the Project Services and cause the Project Services to be
restored promptly when interrupted.
6. TENANT'S COVENANTS.
6.1 USE OF LEASED PREMISES. Tenant agrees to:
6.1.1 PERMITTED USAGE. Use the Leased Premises for the Permitted Purpose
only and for no other purposes.
6.1.2 COMPLIANCE WITH LAWS. Comply with the provisions of all current and
future recorded covenants, conditions and restrictions and all current and future building,
zoning,fire and other governmental laws,ordinances,rules or regulations applicable to the
Leased Premises and all current and future requirements of the carriers of insurance
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covering the Project. Landlord shall provide Tenant with a copy of any notice it receives
from an insurance carrier pertaining to the Leased Premises insofar as such notice sets forth
an alleged failure to meet the carrier's requirements, and Tenant shall have ten (10) days
thereafter to remedy any failure to so comply; provided, however, that such compliance
shall not increase Tenant's insurance requirements hereunder.
6.1.3 NUISANCES OR WASTE.
(a) Not do or permit anything to be done in, upon or about the Leased
Premises, or bring or keep anything in the Leased Premises that may increase
Landlord's fire and extended coverage insurance premium or cause a risk of
termination of coverage, damage the Building or the Project, constitute waste,
constitute an immoral purpose, or be a nuisance, public or private, or menace or
other disturbance to tenants of adjoining premises or anyone else, or use or store
any toxic chemicals, wastes, elements or substances in, upon or about the Leased
Premises, except limited quantities of such toxic chemicals, waste, elements or
substances which are used or stored in fun compliance with an applicable local,
state or federal laws, ordinances, rules and regulations presently in effect or
hereafter enacted pertaining to such use or storage and then only if(i)used or stored
in connection with Tenant's ordinary and usual business operations (that is, for
example, white-out correction fluid and photocopy toner) and (ii) such use or
storage does not expose all or any part of the Project, the Leased Premises, or any
property adjacent to the Project to any meaningful risk of contamination or damage
or expose Landlord and mortgagee of Landlord to any liability therefor. This
section 6.1.3 is in addition to those provisions set forth, in sections 6.8 and 13.13
below.
(b) Tenant further agrees to defend, indemnify and hold harmless Landlord
and any manager, member, partner, officer, director, or employee of Landlord and
any mortgagee(if any)of Landlord,against any and all claims,demands,liabilities,
costs and expenses (including without limitation reasonable attorneys' fees and
expenses, expert witness fees and post judgment collection costs) which Landlord
may sustain at any time as a result of, arising out of, or in any way connected with
a breach of section 6.1.3(a). Additionally,Tenant agrees to cease the activity which
amounts to such breach immediately upon receipt of written notice from Landlord
or any regulatory or governmental agency that such activity is in violation of any
governmental laws, ordinances, regulations or rules. Tenant shall give notice to
Landlord of any hazardous substances that come to be located on the Leased
Premises.
6.1.4 ALTERATIONS AND IMPROVEMENTS. Make no alterations or
improvements in,upon or about the Leased Premises without the prior written approval of
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Landlord. Any such alterations or improvements by Tenant shall be done in a good and
workmanlike manner, at Tenant's expense, by a licensed contractor reasonably approved
by Landlord in conformity with plans and specifications reviewed by Landlord. Tenant
shall obtain all necessary governmental approvals and permits. At Landlord's option,
Tenant shall contract with Landlord for the construction of such alterations or
improvements, but only if Landlord's price for such work is competitive.
6.1.5 LIENS. Keep the Leased Premises, the Building and the Project free from
liens arising out of any work performed, materials furnished or obligations incurred by or
for Tenant. If requested by Landlord,Tenant shall post a bond or other security reasonably
satisfactory to Landlord to protect Landlord and the Project against such liens. If, at any
time,a lien or encumbrance is filed against the Leased Premises,the Building or the Project
as a result of Tenant's work,materials or obligations,Tenant shall promptly discharge such
lien or encumbrance. If such lien or encumbrance has not been removed within thirty (30)
days from the date it is filed, Tenant agrees to post a bond in at least the amount prescribed
by applicable Colorado statute then in effect as security for the lien being discharged.
Landlord shall have the right to post or keep posted on the Leased Premised, or in the
immediate vicinity thereof,notices of non-responsibility for any construction, alteration or
repair of the Leased Premises by Tenant.
6.1.6 RULES AND REGULATIONS. Observe, perform and abide by all the rules
and regulations promulgated by Landlord from time to time on a reasonable basis for the
benefit of the Project and its tenants. Schedule 2 sets forth Landlord's Rules and
Regulations in effect on the date hereof.
6.1.7 SIGNAGE. Obtain the prior approval of the Landlord before placing any sign
or symbol in, or visible from, doors or windows or elsewhere in or about the Leased
Premises, or upon any other part of the Building or Project, including building directories.
Any signs or symbols which have been placed without Landlord's approval may be
removed by Landlord at Tenant's expense. Upon expiration or termination of this Lease,
all signs installed by Tenant shall be removed at Tenant's expense and any damage resulting
therefrom shall be promptly repaired by Tenant, or such removal and repair may be done
by Landlord and the cost charged to Tenant as Rent.
6.2 INSURANCE.
6.2.1 INSURANCE OBTAINED BY TENANT. Tenant shall, at its own expense,
procure and maintain during the Lease Term commercial general liability insurance with
respect to the Leased Premises, and Tenant's activities in the Leased Premises and in the
Building and the Project, providing bodily injury, broad form property damage with a
maximum Five Thousand Dollars ($5,000.00) deductible, unless otherwise approved by
Landlord, as follows:
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(a) One Million Dollars ($1,000,000.00) with respect to bodily injury or
death to any one (1)person;
(b) Two Million Dollars ($2,000,000.00) with respect to bodily injury or
death arising out of any one (1) occurrence;
(c) One Million Dollars($1,000,000.00)with respect to property damage or
other loss arising out of any one (1)occurrence; and
(d) Workers' compensation insurance in at least the statutory amounts.
6.2.2 COVERAGE INCREASE. Not more frequently than each three (3)years if, in
the reasonable business judgment of Landlord, the amount of public liability and property
damage insurance coverage maintained by Tenant is at that time not adequate,Tenant shall
increase the insurance coverage to an amount which is determined to be adequate by
Landlord in the exercise of reasonable business judgment.
6.2.3 BLANKET POLICY. Nothing in this section 6.2 shall prevent Tenant from
obtaining insurance of the kind and in the amounts provided for under this section under a
blanket insurance policy covering other properties as well as the Leased Premises;
provided, however, that any such policy of blanket insurance (i) shall specify the amounts
of the total insurance allocated to the Leased Premises, which amounts shall not be less
than the amounts required by sections 6.2.1 (a) through 6.2.1(c) hereof, and (ii) such
amounts so specified shall be sufficient to prevent any one of the insureds from becoming
a co-insurer within the terms of the applicable policy, and (iii) shall, as to the Leased
Premises, otherwise comply as to endorsements and coverage with the provisions of the
section.
6.2.4 ACCEPTABLE INSURANCE. Tenant's insurance shall be with a Best's
Insurance Reports A+ rated company (or A rated if Class XIII or larger). Landlord and
Landlord's mortgagee, if any, shall be named as "additional insureds" under Tenant's
general liability insurance, and such Tenant's insurance shall be primary and
noncontributing with Landlord's insurance,and shall further comply with the provisions of
section 10 of this Lease. Tenant's insurance policies shall contain endorsements requiring
thirty (30) days' notice to Landlord and Landlord's mortgagee, if any, prior to any
cancellation, lapse or non-renewal or any reduction in amount of coverage.
6.2.5 EVIDENCE OF INSURANCE. Tenant shall deliver to Landlord, as a
condition precedent to its taking occupancy of the Leased Premises, a certificate or
certificates evidencing such insurance.
6.3 REPAIRS. Subject to the obligation of Landlord to provide Project Services as set
forth in section 5.1 above, Tenant, at its sole expense, shall maintain the interior of the Leased
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Premises in a neat, clean and sanitary condition. If Tenant fails to maintain or keep the Leased
Premises in good repair and such failure continues for ten(10)business days after receipt of written
notice from Landlord, or if such failure results in a nuisance or health or safety risk, Landlord may
perform any such required maintenance and repairs and the cost thereof shall be payable by Tenant
as Rent within ten(10)business days of receipt of an invoice from Landlord. Tenant shall also pay
to Landlord the costs of any repair to the Leased Premises,Building or Project necessitated by any
act or neglect of Tenant.
6.4 ASSIGNMENT AND SUBLETTING.
6.4.1 LANDLORD'S CONSENT REQUIRED. Tenant shall not assign, mortgage,
pledge or encumber this Lease, or permit all or any part of the Leased Premises to be
subleased to another, without the prior written consent of Landlord, which consent shall
not be unreasonably withheld or delayed. Any transfer of this Lease by merger,
consolidation,reorganization or liquidation of Tenant, or by operation of law,or change in
the ownership of or power to vote the majority of the outstanding voting stock of a
corporate Tenant, or by change in ownership of a controlling partnership interest in a
partnership Tenant, shall constitute an assignment for purposes of this section. Tenant shall
have the right to assign or sublet its interest in the Lease to an affiliated entity,law practice,
or legal professional with notice to Landlord, and may assign or sublet its interest in the
Lease to a third-party, subject to Landlord's reasonable and timely approval, and as
described in section 6.4.5 herein.
6.4.2 BASIS FOR WITHHOLDING CONSENT REGARDING ASSIGNMENT OR
SUBLEASE. Landlord agrees that it will not unreasonably withhold its consent to Tenant's
assigning this Lease or subletting the Leased Premises. In addition to other reasonable
bases,Tenant hereby agrees that Landlord shall be deemed to be reasonable in withholding
its consent if(a) the proposed assignment or sublease is to any party who is then a tenant
of the Building; or (b) the proposed sublease or assignment results in two (2) or more
tenants in the Leased Premises;or(c)there exists an Event of Default(as defined in section
11.1 below) at the time of request for consent or on the effective date of such subletting or
assigning; or(d)the proposed subtenant or assignee is, in Landlord's good faith judgment,
incompatible with other tenants in the Building, or seeks to use any portion of the Leased
Premises for a use not consistent with other uses in the Building,or is financially incapable
of assuming the obligations of this Lease. Tenant shall submit to Landlord the name of a
proposed assignee or subtenant, the terms of the proposed assignment or subletting, the
nature of the proposed subtenant's or assignee's business, and such information as to the
assignee's or subtenant's financial responsibility and general reputation as Landlord may
reasonably require. Landlord may also consider the amount of square feet of the Leased
Premises proposed to be subleased and the number of employees the subtenant anticipates
will utilize the subleased premises.
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6.4.3 NO RELEASE OF OBLIGATIONS. No subletting or assignment, even with
the consent of Landlord, shall relieve Tenant of its primary obligation to pay the Rent and
to perform all of the other obligations to be performed by Tenant hereunder. The
acceptance of Rent by Landlord from any other person shall not be deemed to be a waiver
by Land lord of any provision of this Lease or to be a consent to any assignment, subletting
or other transfer. Consent to one (1) assignment, subletting or other transfer shall not be
deemed to constitute consent to any subsequent assignment, subletting or other transfer.
6.4.4 RECAPTURE. As material consideration for the execution of this Lease by
Landlord, Tenant hereby agrees that whenever it delivers notice to Landlord that it desires
approval of a sublease or assignment,Landlord shall have the right to review the terms and
conditions of such proposed sublease or assignment and shall have a right for a period of
fifteen (15) business days, to cancel this Lease as to the portion of the Leased Premises to
be assigned or subleased, and enter into a direct Lease with any prospective sublessee or
assignee. Such fifteen(15)day period shall commence upon Tenant's delivery to Landlord
of notice of the terms of the proposed assignment or sublease and financial statements for
the proposed assignee or sublessee. If Landlord exercises its right to cancel this Lease as
described in this section 6.4.4, Tenant shall surrender possession of all, or the applicable
portion, of the Leased Premises which is the subject of this right to cancel, as the case may
be, not later than the date on which the proposed sublease or assignment term would
commence. If this Lease is canceled as to a portion of the Leased Premises only, a written
amendment describing the modification to the Leased Premises shall be executed by both
parties and attached to this Lease, and the Rent after the date of cancellation shall be
equitably abated.
6.4.5 ASSIGNMENT OF LEASE OR SUBLETTING OF PREMISES TO
AFFILIATE. Notwithstanding anything contained herein to the contrary, Tenant may,
without Landlord's consent,assign this Lease or sublet the entire Premises to an"Affiliate"
or "Subsidiary" of Tenant(a"Permitted Transfer") so long as (1) Tenant notifies Landlord
at least 30 days prior to such Permitted Transfer; (2) Tenant delivers to Landlord, at the
time of Tenant's notice,current financial statements of Tenant and the Affiliate; and(3)the
Affiliate assumes and agrees in a writing to perform Tenant's obligations under this Lease
and to observe all terms and conditions of this Lease.Notwithstanding anything contained
herein to the contrary, Tenant shall remain liable to Landlord after such a Permitted
Transfer as a principal and not as a surety. As used in this Lease the term "Affiliate" shall
mean any corporation, which, directly or indirectly, controls or is controlled by or is under
common control with Tenant. As used in this Lease, the term "control" shall mean the
possession, directly or indirectly, of the power to direct or cause the direction of the
management and policies of such corporation, whether through the ownership of voting
securities or by contract or otherwise. As used in this Lease the term "Subsidiary" shall
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mean any corporation not less than fifty percent (50%) of whose outstanding stock shall,
at any time,be owned directly or indirectly by Tenant.
6.5 ESTOPPEL CERTIFICATE. From time to time and within ten (10) days after
request by Landlord, Tenant shall execute and deliver a certificate to any proposed lender or
purchaser, or to Landlord, certifying, with any appropriate exceptions, (a)that this Lease is in full
force and effect without modification except as noted, (b) the amount, if any, of prepaid Rent and
Security Deposit paid by Tenant to Landlord (and not returned to Tenant), (c)the nature and kind
of concessions, rental or otherwise, if any, which Tenant has received or is entitled to receive, (d)
that Landlord has performed all of its obligations due to be performed under this Lease and that
there are no defenses, counterclaims, deductions or offsets outstanding or other excuses for
Tenant's performance under this Lease as of such date,and(e)any other fact reasonably requested
by Landlord or such lender, proposed lender or purchaser. Should Tenant fail to deliver such
estoppel certificate within such ten (10) day period, then (i) the truth of the statements in the
document submitted to Tenant for execution shall be conclusively presumed, and (ii) Landlord
shall have the right, at its option, to immediately declare an Event of Default and pursue all
remedies provided under section 11.2 below.
6.6 BROKERAGE COMMISSIONS. Each of Tenant and Landlord represents to the
other that no brokers or agents were instrumental in procuring or negotiating or consummating this
Lease.
6.7 REGULATIONS. Except for pre-existing violations, Tenant shall, at Tenant's sole
expense, comply with all Regulations now in force or which may hereafter be in force relating to
the Leased Premises and the use of the Leased Premises. Furthermore, by its taking possession of
the Leased Premises, Tenant shall be deemed to agree,that Tenant has conducted an investigation
of the Leased Premises and the acceptability of the Leased Premises for Tenant's use,to the extent
that such investigation might affect or influence Tenant's execution of this Lease. Tenant
acknowledges that Landlord has made no representations or warranties in connection with the
physical condition of the Leased Premises or Tenant's use of the same upon which Tenant has
relied directly or indirectly for any purpose, except as may be set forth herein. Tenant shall not
commit waste, interfere with any other tenants in the Building, overload the floors, elevators, or
structure of the Building, subject the Leased Premises to any use which would damage the Leased
Premises or raise or violate any insurance coverage required by this Lease or take any action that
would impair parking or alter parking spaces.
6.8 HAZARDOUS MATERIALS REGULATIONS. Tenant shall strictly comply with
all statutes, laws, codes, ordinances,rules, regulations and precautions now or hereafter mandated
or advised by any federal, state, local or other governmental agency with respect to the use,
generation, storage, or disposal of hazardous,toxic, or radioactive materials (collectively referred
to as "Hazardous Materials").Landlord shall have the right,but not the obligation,at all reasonable
times to inspect the Leased Premises and to conduct tests and investigations to determine whether
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Tenant is in compliance with the foregoing provisions. As used herein, Hazardous Materials shall
include, but not be limited to, those substances defined as "hazardous substances or pollutant or
contaminant," "hazardous materials," "hazardous wastes," "toxic substances," "regulated
substances," or other similar designations in the Comprehensive Environmental Response,
Compensation and Liability Act of 1980, as amended, 42 U.S.C. § 6901, et seq.; the Resources
Conservation and Recovery Act, 42 U.S.C. § 1801, et seq.; the Toxic Substances Control Act, 15
U.S.C. § 2601, et seq.; section 9001 of the Solid Waste Disposal Act, as amended by section 601
of the Hazardous and Solid Waste Amendments of 1984; end any other federal, state or local
governmental statutes, laws, ordinances, and codes, including any and all rules, and regulations,
and precautions promulgated thereunder (collectively, "Environmental Laws" ). Except as
permitted by section 6.1.3,Tenant shall not cause,or allow anyone else under the control of Tenant
to cause, any Hazardous Material to be used, generated, stored, discharged, released or disposed
of in,upon or about the Leased Premises,Project,or Building,including all common areas,without
the prior written consent of Landlord, which consent may be withheld or revoked at any time, in
the sole discretion of Landlord. Tenant's indemnification of Landlord pursuant to section 10.1,
hereof, shall extend to all liability, including all foreseeable and unforeseeable consequential
damages and all fines, penalties, assessments or charges that may be assessed for the disposal,
discharge or release of Hazardous Materials in, upon or about the Leased Premises, directly or
indirectly arising out of the use, generation, storage, transportation, or disposal of Hazardous
Materials by Tenant or anyone under Tenant's control. Neither the written consent by Landlord to
the use,generation,storage,or disposal of Hazardous Materials nor the strict compliance by Tenant
with all statutes, laws, ordinances, rules, codes, regulations, and precautions pertaining to
Hazardous Materials shall excuse Tenant from Tenant's obligation to indemnification pursuant to
this subsection. Tenant's obligation pursuant to the foregoing indemnity shall survive the
termination of this Lease.
7. LANDLORD'S RESERVED RIGHTS. Without notice and without liability to Tenant, or
without effecting an eviction or disturbance of Tenant's use or possession, Landlord shall have the
right to(a)grant utility easements or other easements in,or replat,subdivide or make other changes
in the legal status of the land underlying the Leased Premises, the Building or the Project as
Landlord shall deem appropriate in its sole discretion; provided such changes do not substantially
interfere with Tenant's use of the Leased Premises for the Permitted Purpose; (b) enter the Leased
Premises at reasonable times, and at any time in the event of an emergency, to inspect, alter or
repair the Leased Premises or the Building and to perform any acts related to the safety,protection,
reletting, sale or improvement of the Leased Premises or the Building; (c) add to or take away
from the Project (including the construction of additional improvements on the Project) any
improvement or portion thereof, in which event the Rentable Square Footage of the Building and
Tenant's Pro Rata Share shall be adjusted accordingly if affected by such changes; (d) install and
maintain signs on and in the Building and the Project; and (e) make such Regulations as, in the
reasonable judgment of Landlord, may be needed from time to time for the safety of the tenants,
the care and cleanliness of the Leased Premises, the Building and the Project and the preservation
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of good order therein. Notwithstanding the foregoing, however, such changes shall (i) be
performed so as to not materially interfere with Tenant's use of the Leased Premises; and (ii)
provide for reasonable,temporary alternative access, parking or services to the extent interruption
thereof results from such changes.
8. CASUALTY AND UNTENANTABILITY.
8.1 TERMINATION BY LANDLORD. If the Building is made substantially
untenantable,or if Tenant's use and occupancy of the Leased Premises are substantially interfered
with,due to damage to the common areas of the Building,or the Leased Premises are made wholly
or partially untenantable by fire or other casualty, Landlord may, by notice to Tenant within sixty
(60) days after the damage,terminate this lease, and Rent shall be abated from the time the fire or
other casualty occurred.
8.2 RESTORATION OF PREMISES. If the Leased Premises are made partially or
wholly untenantable by fire or other casualty and this Lease is not terminated as provided above,
Landlord shall restore the Leased Premises to the condition immediately prior to such casualty;
excluding Tenant's personal property, equipment or trade fixtures.
8.3 TERMINATION BY TENANT. If the Landlord does not terminate this Lease as
provided above, and Landlord fails within one hundred eighty (180) days after the date of such
casualty to restore the damaged Common Areas or the Leased Premises to enable Tenant to
reoccupy and use the leased Premises in the manner contemplated by this Lease,Tenant shall have
the right to terminate this Lease by giving Landlord prior notice within five (5) days after the end
of such one hundred eighty(180)day period;provided that the time for Landlord to perform shall
be extended by any delay caused by or attributable to Unavoidable Delay (as defined in section
13.10 of this Lease). If Landlord determines that it will be unable to restore such damaged areas
within such one such hundred eighty (180) day period, Landlord shall have the right to cease its
performance and provide Tenant with written notice (the "Extension Notice") of such inability.
The Extension Notice shall set forth the date on which Landlord reasonably believes that such
damaged areas will be restored. Upon receipt of the Extension Notice, Tenant shall have the right
to terminate this Lease by providing notice of termination to Landlord within five (5) days after
the date of delivery of the Extension Notice. In the event that Tenant does not terminate this Lease
within such five (5) day period, the time for the Landlord to restore such damaged areas shall be
extended to be the date set forth in Landlord's Extension Notice or amended Extension Notice as
the case may be.
8.4 RENT PRORATIONS. In the event of termination of this Lease pursuant to this
section 8,Rent shall be prorated on a per diem basis and paid to the date of the casualty,unless the
Leased Premises shall be tenantable, in which case Rent shall be payable to the date of the Lease
termination and if only partly tenantable, Tenant shall receive abatement to the extent that portion
is untenantable. If the Leased Premises are wholly untenantable and this Lease is not terminated,
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Rent shall abate on a per diem basis from the date of the casualty until the Leased Premises are
ready for occupancy by Tenant. If part of the Leased Premises are untenantable, Rent shall be
prorated on a per diem basis and partially abated in accordance with the part of the Leased Premises
which is usable by Tenant until the damaged part is ready for Tenant's occupancy.Notwithstanding
the foregoing, if any damage was proximately caused by an act or omission of Tenant, its
employees, agents, contractors, licensees or invitees, then, in such event, Tenant agrees that Rent
shall not abate or be diminished during the term of this Lease.
9. CONDEMNATION.
9.1 RENT ABATEMENT. If all or any part of the Leased Premises shall be taken under
power of eminent domain or sold under imminent threat to any public authority or private entity
having such power, this Lease shall terminate as to the part of the Leased Premises so taken or
sold, effective as of the date possession is required to be delivered to such authority. In such event
Base Rent and Tenant's Pro Rata Share of Excess Operating Costs shall abate in the ratio that the
portion of Tenant's Square Footage taken or sold bears to Tenant's Square Footage.
9.2 LEASE TERMINATION. If a partial taking or sale of the Leased Premises, the
Building or the Project (a) substantially reduces the Tenant's Square Footage, resulting in an
inability of Tenant to use the Leased Premises for the Permitted Purpose, or (b) renders the
Building or the Project commercially unviable to Landlord, in Landlord's sole opinion, either
Tenant in the case of(a), or Landlord in the case of(b), may terminate this Lease by notice to the
other party within thirty(30)days after the terminating party receives written notice of the portion
to be taken or sold. Such termination shall be effective one hundred eighty(180) days after notice
thereof, or when the portion is taken or sold, whichever is sooner. All condemnation awards and
similar payments shall be paid and belong to Landlord, except for any amounts awarded or paid
specifically to Tenant by the acquiring agency for removal and reinstallation of Tenant's trade
fixtures and personal property, Tenant's moving costs or Tenant's goodwill.
10. INDEMNITY, SUBROGATION AND WAIVER.
10.1 INDEMNITY. Tenant agrees to defend, indemnify and save harmless Landlord
against and from any and all claims, demands, actions, damages, liability and expense in
connection with or for loss of or damage to property or injury or death to any person from any
cause whatsoever while in, upon or about the Leased Premises, or from any such claim, demand,
or the like arising from or out of any occurrence in, upon or about the Leased Premises, by or on
behalf of any person, firm or corporation arising from Tenant's use of the Leased Premises or the
conduct of its business or from any activity,work, or thing done,permitted or suffered by Tenant,
in, upon or about the Leased Premises, and Tenant shall further defend, indemnify and save
Landlord harmless against and from any and all claims arising from any Event of Default(defined
in section 11.1 below), or arising from any act or negligence of Tenant, or any of its agents,
contractors, servants, employees or licensees, and from and against all costs, attorneys' fees,
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expenses and liabilities incurred in or arising from any such claim or action or proceeding brought
thereon; and in case any action or proceeding is brought against Landlord by reason of any such
claim, Tenant upon notice from Landlord covenants to resist or defend at Tenant's expense such
action or proceeding by counsel reasonably satisfactory to Landlord. Tenant, as a material part of
the consideration to Landlord,hereby assumes all risk of damage to property in,upon or about the
Leased Premises, the Building or the Project from any source and to whomever belonging, and
Tenant hereby waives all claims in respect thereof against Landlord, except to the extent such
damage is caused by Landlord's gross negligence or willful misconduct. The foregoing waiver
shall inure only to the benefit of Landlord and its agents, and the exception to such waiver for
Landlord's gross negligence or willful misconduct shall inure only to the benefit of Tenant and its
agents and to no other party.
10.2 WAIVER OF SUBROGATION. Tenant and Landlord release each other and waive
any right of recovery against each other for any claims for loss or damage to any person, which
occurs in, upon or about the Leased Premises, the Building or the Project, whether due to the
negligence of either party, their agents, employees, officers, contractors, licensees, invitees or
otherwise, if such loss or damage is insured against under an insurance policy carried by the
releasing party and in force at the time of such loss or damage, and to the extent of the proceeds
received from such policy. Tenant and Landlord agree that all policies of insurance obtained by
either of them in connection with the Leased Premises shall contain appropriate waiver of
subrogation clauses. The provisions of this section 10.2 shall survive the expiration or termination
of this Lease with respect to any claims or liability arising from events occurring prior to such
expiration.
10.3 LIMITATION OF LANDLORD'S LIABILITY. The obligations of Landlord
under this Lease do not constitute personal obligations of the individual managers, members,
partners, shareholders,directors, officers, employees,or agents of Landlord,and Tenant shall look
solely to Landlord's interest in the Building and to no other assets of Landlord, for satisfaction of
any liability in respect of this Lease.Tenant will not seek recourse against the individual managers,
members, partners, shareholders, directors, officers, employees or agents of Landlord or any of
their personal assets for such satisfaction.Notwithstanding any other provisions contained herein,
Landlord shall not be liable to Tenant, its contractors, agents or employees for any consequential
damages or damages for loss of profits.
11. TENANT'S DEFAULT AND LANDLORD'S REMEDIES.
11.1 TENANT'S DEFAULT. It shall be an "Event of Default" if Tenant shall (a) fail to
pay when due any (i) monthly installment of Base Rent or of Tenant's Pro Rata Share of Excess
Operating Costs, (ii) or any other Rent; (b) violate or fail to perform any of the other conditions,
covenants or agreements herein made by Tenant, and such violation or failure shall continue for
thirty (30) days after written notice thereof to Tenant by Landlord except that if within the thirty
(30) day period Tenant commences and thereafter proceeds diligently to remedy the violation or
15
failure, Tenant shall not be in default hereunder if Tenant has fully and completely remedied such
violation or failure on or before the date which is sixty (60) days from the effective date of such
notice from Landlord to Tenant of such violation or failure; (c)make a general assignment for the
benefit of its creditors or file a petition for bankruptcy or other reorganization, liquidation,
dissolution or similar relief; (d) have a proceeding filed against Tenant seeking any relief
mentioned in(c)above which is not discharged within sixty(60)days thereafter;(e)have a trustee,
receiver or liquidator appointed for Tenant or a substantial part of its property; (f) abandon or
vacate the Leased Premises for more than six (6) consecutive months; or (g) default under any
other space lease within the Building or Project.
11.2 REMEDIES ON DEFAULT. Landlord shall have the following remedies if Tenant
commits an Event of Default. These remedies are not exclusive;they are cumulative in addition to
any remedies now or later allowed by law or in equity.
11.2.1 CONTINUE LEASE. Landlord may continue this Lease in full force and
effect.In such case,the Lease will continue in effect so long as Landlord does not terminate
Tenant's right to possession, and Landlord shall have the right to collect Rent when due.
During the period such Event of Default continues,Landlord can enter the Leased Premises
and relet them, or any part of them, to third parties for Tenant's account. Tenant shall be
liable immediately to Landlord for all reasonable costs Landlord incurs in reletting the
Leased Premises including, without limitation, broker's commissions, expenses of
remodeling the Leased Premises required by the reletting, and like costs. Reletting can be
for a period shorter or longer than the remaining term of this Lease. Tenant shall pay to
Landlord the Rent due under this Lease on the date the Rent is due, less the Rent Landlord
receives from any reletting.No act by Landlord allowed by this section shall terminate this
Lease unless Landlord notifies Tenant that Landlord elects to terminate this Lease.
11.2.2 TERMINATE LEASE. Landlord can terminate Tenant's right to possession
of the Leased Premises at any time.No act by Landlord other than giving notice to Tenant
shall terminate this Lease. Acts of maintenance, efforts to relet the Leased Premises or the
appointment of a receiver on Landlord's initiative to protect Landlord's interest under this
Lease shall not constitute a termination of Tenant's right to possession. On termination,
Landlord has the right to recover from Tenant:
(a) The worth, at the time of the award, of the unpaid Rent that had been
earned at the time of termination of this Lease;
(b) The worth, at the time of the award, of the amount by which the unpaid
Rent that would have been earned after the date of termination of this Lease until
the time of the award exceeds the amount of the loss of Rent that Tenant proves
could have been reasonably avoided;
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(c) The worth, at the time of the award, of the amount by which the unpaid
Rent for the balance of the term after the time of the award exceeds the amount of
the loss of Rent that Tenant proves could have been reasonably avoided;
(d)Any other reasonable amount, and court costs, necessary to compensate
Landlord for all detriment proximately caused by such Event of Default, including,
without limitation, any unamortized brokerage commissions attributable to this
Lease, or any unamortized costs of tenant improvements.
"The worth, at the time of the award," as used in section 11.2.2 is to be
computed by allowing interest at eighteen percent (18%)per annum.
11.2.3 RECEIVER. Landlord shall have the right to have a receiver appointed to
collect Rent. Neither the filing of a petition for the appointment of a receiver nor the
appointment itself shall constitute an election by Landlord to terminate this Lease.
11.2.4 COST OF RE-LETTING PREMISES. Upon the occurrence of an Event of
Default and Landlord's reentering of the Premises, Tenant agrees to pay to Landlord, as an
additional item of damages, the reasonable cost of repairs, alterations, redecorating, lease
commissions and Landlord's other expenses incurred in reletting the Leased Premises to a
new tenant.
11.2.5 WAIVER. Tenant hereby waives any right of redemption or relief from
forfeiture under any present or future law,if Tenant is evicted or Landlord takes possession
of the Leased Premises by reason of the occurrence of any Event of Default hereunder.
12. TERMINATION.
12.1 SURRENDER OF LEASED PREMISES. On expiration of this Lease, if no Event
of Default exists, Tenant shall surrender the Leased Premises in the same condition as when the
Lease Term commenced, ordinary wear and tear excepted. Except for furnishings, trade fixtures
and other personal property installed at Tenant's expense, all alterations, additions or
improvements, whether temporary or permanent in character, made in or upon the Leased
Premises,either by Landlord or Tenant,shall be Landlord's property and at the expiration or earlier
termination of the Lease or any Renewal Term shall remain on the Leased Premises without
compensation to Tenant;provided that,if Landlord requests in writing, Tenant shall,at its expense
and without delay, remove any alterations, additions or improvements, that are not defined as
Landlord's property made to the Leased Premises by Tenant and designated by Landlord to be
removed, and repair any damage to the Leased Premises or the Building or the Project caused by
such removal. If Tenant fails to repair the Leased Premises, Landlord may complete such repairs
and Tenant shall reimburse Landlord for such repair and restoration. If Tenant fails to remove such
property as required under this Lease, Landlord may dispose of such property in its sole discretion
without any liability to Tenant, and further may charge the cost of any such disposition to Tenant.
17
12.2 HOLDOVER TENANCY. If Tenant shall hold over after the Lease Expiration Date
or at the end of any Renewal Term, Tenant shall be deemed, at Landlord's option, to occupy the
Leased Premises as a tenant from month to month. During such tenancy, Tenant agrees to pay
Landlord,monthly in advance, an amount equal to One Hundred Ten&no/100 percent(110%)of
all Rent which would become due (based on Base Rent and Tenant's Pro Rata Share of Excess
Operating Costs payable for the last month of the Lease Term or Renewal Term as applicable,
together with all other amounts payable by Tenant to Landlord under this Lease), and to be bound
by all of the terms, covenants and conditions herein specified. If Landlord relets the Leased
Premises or any portion thereof to a new tenant and the term of such new lease commences during
the period for which Tenant holds over, Landlord shall be entitled to recover from Tenant all costs
and expenses, reasonable attorneys' fees, post judgment collection costs, damages (including any
reasonable relocation costs or other damages occasioned to such new tenant and asserted against
Landlord) and loss of profits incurred by Landlord as a result of Tenant's failure to deliver
possession of the Leased Premises to Landlord when required under this Lease,together with any
other remedies provided to Landlord hereunder.
13. MISCELLANEOUS.
13.1 QUIET ENJOYMENT. Subject to the rights of Landlord to enter into the Leased
Premises as provided in section 7 hereof, if and so long as Tenant pays all Rent and timely keeps
and performs each and every term, covenant and condition herein contained on the part of Tenant
to be kept and performed, Tenant shall quietly enjoy the Leased Premises without hindrance by
Landlord.
13.2 ACCORD AND SATISFACTION. No receipt and retention by Landlord of any
payment tendered by Tenant in connection with this Lease shall constitute an accord and
satisfaction, or a compromise or other settlement, notwithstanding any accompanying statement,
instruction or other assertion to the contrary unless Landlord expressly agrees to an accord and
satisfaction,or a compromise or other settlement, in a separate writing duly executed by Landlord.
Landlord will be entitled to treat any such payments as being received on account of any item or
items of Rent, interest, expense or damage due in connection herewith, in such amounts and in
such order as Landlord may determine at its sole option.
13.3 SEVERABILITY. The parties intend this Lease to be legally valid and enforceable
in accordance with all of its terms to the fullest extent permitted by law. If any term hereof shall
be stricken from this Lease to the extent unenforceable, the same shall be as if it never had been
contained herein. Such invalidity or unenforceability shall not extend to any other term of this
Lease, and the remaining terms hereof shall continue in effect to the fullest extent permitted by
law,the same as if such stricken term never had been contained herein.
13.4 SUBORDINATION AND ATTORNMENT. This Lease and Tenant's rights
hereunder are hereby made expressly subordinate to the lien of any mortgage or deed of trust and
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to the lien of any ground lease,together with any conditions,renewals, extensions or replacements
thereof("Superior Instruments"),now or hereafter placed,charged or enforced against any interest
of Landlord in this Lease, in the leasehold estate thereby created or in the Leased Premises or the
Building or the Project, together with any improvements included therein. If requested in writing
by Landlord or any mortgagee,beneficiary or ground lessor of Landlord, Tenant agrees to execute
a subordination agreement required to confirm the effect of the provisions of this section;provided
such party acquires and accepts the Leased Premises subject to this Lease and that, so long as
Tenant is not in default under this Lease, the rights of Tenant hereunder shall not be disturbed by
reason of the terms of any such Superior Instrument. If Tenant fails to execute and deliver any
such documents or instruments within ten (10) business days following request therefor by
Landlord, Tenant irrevocably constitutes and appoints Landlord as Tenant's special attorney-in-
fact to execute and deliver any such documents or instruments. In the event of any transfer in lieu
of foreclosure or termination of a lease in which Landlord is lessee or the foreclosure of any
Superior Instrument, or sale of the Property pursuant to any Superior Instrument, Tenant shall
attorn to,and recognize as "landlord"hereunder,such purchaser,transferee or lessor and recognize
such party as landlord under this Lease. The agreement of Tenant to attorn contained in the
immediately preceding sentence shall survive any such foreclosure sale,termination of Landlord's
interest, or transfer.
13.5 APPLICABLE LAW/CONSTRUCTION. This Lease shall be construed according
to the laws of the State of Colorado and the provisions hereof shall be construed in accordance
with their fair meaning. Each of the parties has agreed to the use of the particular language hereof
(and in all attached Schedules), and any questions of doubtful interpretation shall not be resolved
solely by any rule or interpretation providing for interpretation against the party who causes the
uncertainty to exist or against the draftsman. The subject captions; use of different type fonts; or
boldfaced, italicized or underlined words have been inserted for convenience only and shall not be
used to alter or interpret the content of this Lease.
13.6 BINDING EFFECT. The covenants, conditions, warranties and agreements
contained in this Lease shall be binding upon and inure to the benefit of the parties and their
respective heirs, successors and permitted assigns.
13.7 TIME. Time is of the essence of this Lease.
13.8 ENTIRE AGREEMENT. This Lease and the Schedules attached set forth all the
covenants, promises, agreements, representations, conditions, statements and understandings
between Landlord and Tenant concerning the Leased Premises, the Building and the Project, and
there are no representations,either oral or written between the parties other than those in this Lease.
Without limiting the foregoing,Tenant,hereby, specifically waives any claims,rights,or defenses
based on any warranties,representations or guarantees, whatever their form,made at any time,by
any party, negligently made or otherwise, except those warranties, representations or guarantees
contained in this Lease. This Lease shall not be amended or modified except in a writing signed
19
by both parties. Failure to exercise any right in one or more instance shall not be construed as a
waiver of the right to strict performance or as an amendment to or modification of this Lease.
13.9 NOTICES. All notices, consents and approvals pursuant to this Lease shall be in
writing , sent by (a) reputable messenger or courier service; (b) a reputable private carrier of
overnight mail; (c) personal delivery by agent of Landlord, Managing Agent, or Tenant; or (d)
mailed by United States mail,postage prepaid,certified mail,return receipt requested,in each case
addressed (i) to Landlord or Tenant at the address designated in section 1.1 with a copy to the
Managing Agent, or (ii) to such other address as may hereafter be designated by either party by
written notice. Such notice shall be effective on the earlier to occur of delivery to the stated address
(or upon refusal to accept delivery)or if mailed,three(3)days after posting at a United States Post
Office, when mailed by certified mail to Landlord or Tenant at the address designated in section
1.1 with a copy to the Managing Agent.
13.10 FORCE MAJEURE. Except as otherwise provided in this Lease,the obligations of
Tenant to pay Rent and perform all of the terms, covenants and conditions on the part of Tenant to
be performed hereunder shall in no way be affected, impaired or excused because Landlord, due
to Unavoidable Delay (as defined below), (a) is unable to fulfill any of its obligations under this
Lease, or (b) is delayed in providing any service, equipment or fixtures expressly or impliedly to
be provided, or(c) is unable to make or is delayed in making any repairs,replacements, additions,
alterations or decorations.To the extent Landlord is unable to fulfill its obligations under this Lease
due to Unavoidable Delay, Landlord is excused from the performance of such obligations;
provided that Landlord shall in each instance exercise reasonable diligence to effect performance
when and as soon as reasonably practicable. Landlord, however, shall not be obligated to pay
overtime labor rates.
13.10.1 UNAVOIDABLE DELAY shall mean any and all delay beyond Landlord's
reasonable control, including without limitation, Tenant Delay; governmental restrictions,
regulations, controls, preemptions or delays; orders of civil, military or naval authorities;
strikes, labor disputes, lock-outs, shortages of labor or materials or reasonable substitutes
therefor; delays caused by manufacturers and suppliers of goods and materials; Acts of
God; fire, earthquake, floods, explosions or other casualties; extreme weather conditions
or other actions of the elements; enemy action, civil commotion, riot or insurrection.
13.10.2 TENANT DELAY shall mean any and all delays caused by any act or
omission attributable to Tenant, or any of Tenant's agents, contractors, servants,
employees, or licensees.
13.11 ATTORNEYS' FEES; PREJUDGMENT INTEREST. In the event of a dispute
between Landlord and Tenant concerning this Lease, the parties agree that each party shall be
responsible for the payment of attorney fees incurred by or on its own behalf. Any award of
damages following judicial remedy as a result of the breach of this Lease or any of its provisions
20
shall include an award of prejudgment interest from the date of the breach or default at the
maximum amount of interest allowed by law.
13.12 AUTHORITY.Tenant warrants and represents that it has full authority to enter,into
this Lease; that this Lease constitutes a binding obligation on behalf of Tenant, and that the
individual signing on behalf of Tenant is duly authorized to bind Tenant hereto.
13.13 HAZARDOUS MATERIALS.
13.13.1 LANDLORD'S REPRESENTATIONS AND WARRANTIES. Landlord
hereby warrants and represents to Tenant that Landlord has no knowledge of the presence
within the Leased Premises, the Building, or the Project, of any asbestos, polychlorinated
biphenyls or other Hazardous Materials.
13.13.2 NOTICE. In the event that Tenant discovers or is informed that a Hazardous
Material exists in the Leased Premises, in the Building, or any part or parts thereof or in
the Project, it shall immediately notify the Landlord in writing of such discovery or
information.
13.14 PARTIES' APPROVALS. Except as otherwise herein expressly provided,
whenever consent or approval of either party is required,that party shall not unreasonably withhold
or delay such consent or approval.
13.15 MORTGAGEE PROTECTION. Landlord shall not be deemed to be in default
under this Lease unless (a) Tenant has given notice by registered or certified mail to any
beneficiary of a deed of trust or mortgage covering the Premises whose address shall have been
furnished to Tenant, and(b)Tenant offers such beneficiary or mortgagee a reasonable opportunity
(or such other period as may be agreed to by Tenant and such beneficiary or mortgagee) to cure
the default, including time to obtain possession of the Premises by power of sale or of judicial
foreclosure, if such should prove necessary to effect a cure.
13.16 BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY
APPROVAL.This Agreement shall not be valid until it has been approved by the Board of County
Commissioners of Weld County, Colorado or its designee.
13.17 PUBLIC RECORD. Tenant recognizes that this Lease is a public record under the
Colorado Open Records Act, C.R.S. §24-72-20 1 et. seq., and is available for inspection by the
public online and at the office of the Weld County Clerk to the Board.
13.18 DEFAULT OF LANDLORD. In the event of any alleged default on the part of
Landlord hereunder, Tenant shall give written notice to Landlord and any mortgagee whose name
and address have been supplied to Tenant, in the manner herein set forth and shall afford Landlord
and such mortgagee a reasonable opportunity to cure any such default. Landlord's liability under
this Lease shall be limited to its interest in the Project, and under no circumstances shall any other
21
property of Landlord or of any owner of Landlord be available for satisfaction of any judgment
against Landlord. In no event shall landlord be liable to Tenant or persons claiming through Tenant
for any consequential damages, including,without limitation, lost profits or business interruption,
nor shall Landlord have any liability for the criminal acts of third parties.
13.19 GOVERNMENTAL IMMUNITY. No term or condition of this Lease shall be
construed or interpreted as a waiver, express or implied, of any of the immunities,rights, benefits,
protections or other provisions,of the Colorado Governmental Immunity Act §§24-10-101 et seq.,
as applicable now or hereafter amended.
13.20 NO THIRD-PARTY BENEFICIARY. It is expressly understood and agreed that
the enforcement of the terms and conditions of this Lease, and all rights of action relating to such
enforcement, shall be strictly reserved to the undersigned parties and nothing in this Lease shall
give or allow any claim or right of action whatsoever by any other person not included in this
Lease. It is the express intention of the undersigned parties that any entity other than the
undersigned parties receiving services or benefits under this Lease shall be an incidental
beneficiary only.
13.21 CHOICE OF LAW; JURISDICTION. Colorado law, and rules and regulations
established pursuant thereto, shall be applied in the interpretation, execution, and enforcement of
this Lease. Any provision included or incorporated herein by reference which conflicts with said
laws, rules and/or regulations shall be null and void. In the event of a legal dispute between the
parties, Tenant agrees that the Weld County District Court shall have exclusive jurisdiction to
resolve said dispute.
IN WITNESS WHEREOF,Landlord and Tenant have executed this Lease as of the day and year
first above written.
LANDLORD:
County of Weld
ikZo--LQ.,v---- JAN 2 7 2021
Steve Moreno, Chair Date
Weld County Board of County Commissioners
TENANT:
Peek Goldstone LLC
N9 1/18/2021
By: an M. I1eek Date
22
02-/— D027. ..
SCHEDULE 1 —DESCRIPTION OF PREMISES
The Leased Premises, to be known as Suite 520, shall consist of approximately Two
Thousand Four Hundred Ninety-Two (2,492) Rentable Square Feet on the fifth floor of the
Building (in the area generally depicted on the Space Plan set forth in Schedule 1-A below).
The Leased Premises are located in the Building which is a part of the Project located on
land having the following legal description:
Parcel 1:
Lots 1 through 26, Block 44, City of Greeley,together with the North-South alley adjacent
to Lots 12 through 23 and the East-West alley adjacent to Lots 9 through 12, Lots 17 and
18,and Lots 23 through 26,Block 44, City of Greeley,County of Weld, State of Colorado.
Parcel 2:
Lots 9 and 10, the North 1/2 of Lots 11 and 12, Lots 13 through 20, also South 1 /2 of
vacant alley adjacent to Lots 13 through 19,except the East 5 feet adjacent to Lot 19,except
the West 8.65 feet of the South 1/2 of Lot 13, all in Block 37, City of Greeley, County of
Weld, State of Colorado.
(for informational purposes only) 822 7th St., Greeley, Colorado
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SCHEDULE 1A—SPACE PLAN
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SCHEDULE 1-B-WORK LETTER AGREEMENT
NOT APPLICABLE
25
SCHEDULE 2—RULES AND REGULATIONS
Except as otherwise provided in any provision of the Lease the following Rules and Regulations
shall apply:
1. The sidewalks, entrances, halls, corridors, elevators and stairways of the Building and Project
shall not be obstructed or used as a waiting or lounging place by tenants,and their agents, servants,
employees, invitees, licensees and visitors. All entrance doors leading from any leased premises
to the hallways are to be kept closed at all times.
2. Landlord reserves the right to refuse admittance to the Building between the hours of 7:00 p.m.
and 6:30 a.m. Monday through Saturday,and from 1:00 p.m. Saturday to 6:30 a.m. Monday to any
person not producing a key to its leased premises. In case of invasion, riot, public excitement or
other commotion, Landlord also reserves the right to prevent access to the Building during the
continuance of same.Landlord shall in no case be liable for damages for the admission or exclusion
of any person to or from the Building.
3. Landlord will furnish each tenant with two (2) keys to each door lock on its leased premises,
and Landlord may take a reasonable charge for any additional keys requested by any tenant. No
tenant shall alter any lock, or install new or additional locks or bolts on any door without the prior
written approval of Landlord. In the event of such alteration tenant shall supply Landlord with a
key for any such lock or bolt. Each tenant,upon the expiration or termination of its tenancy, shall
deliver to Landlord all keys in any such tenant's possession for all locks and bolts in the Building.
4. In order that the Building may be kept in a state of cleanliness,each tenant shall,during the term
of each respective lease, permit Landlord's employees (or Landlord's agent's employees) to take
care of and clean its leased premises. No tenant shall cause any unnecessary labor by reason of
such tenant's carelessness or indifference in the preservation of good order and cleanliness of its
leased premises Tenants will use reasonable efforts to see that (i) the windows are closed, (ii) the
doors are securely locked,and(iii)all water faucets and other utilities are shut off(so as to prevent
waste or damage) each day before leaving its leased premises. In the event tenants must dispose
of crates,boxes, etc.,which will not fit into office waste paper baskets, it will be the responsibility
of such tenant to dispose of same. In no event shall any tenant set such items in public hallways or
other areas of the Building, excepting such tenant's own leased premises, for disposal.
5. All damage done to the Building by the delivery or removal of personal property, equipment,
trade fixtures, merchandise and other similar items, or by reason of their presence in the Building,
shall be paid to Landlord, immediately upon demand, by such tenant by, through, or under whom
such damage was done. No iron safe or other heavy or bulky object shall be delivered to or
removed from the Building, except by experienced safe men, movers or riggers approved in
writing by the Landlord. There shall not be used in any space,or in the public halls of the Building,
either by such tenant or by jobbers or others, in the delivery or receipt of merchandise, any hand
trucks, except those equipped with rubber tires.
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6. The walls, partitions, skylights, windows, doors and transoms that reflect or admit light into
passageways or into any other part of the Building shall not be covered or obstructed by any of the
tenants.
7. The toilet rooms, toilets, urinals, wash bowls and water apparatus shall not be used for any
purposes other than for those for which they were constructed or installed, and no sweepings,
rubbish, chemicals, or other unsuitable substances shall be thrown or placed therein. The expense
of any breakage, stoppage or damage resulting from violations of this rule shall be borne by such
tenant by whom, or by whose agents, employees, invitees, licensees or visitors, such breakage,
stoppage or damage shall have been caused.
8.No sign,name,placard,advertisement or notice visible from the exterior of any leased premises,
shall be inscribed,painted or affixed by a tenant on any part of the Building or Project without the
prior written approval of Landlord. All signs or letterings on doors, or otherwise approved by
Landlord shall be inscribed, painted or affixed at the sole cost and expense of such tenant, by a
person approved by Landlord.A directory containing the names of all tenants in the Building shall
be provided by Landlord at an appropriate place in the main level foyer of the Building.
9. Except as otherwise provided in a tenant's lease, no signaling, telegraphic or telephonic
instruments or devices,or other wires,instruments or devices, shall be installed in connection with
any leased premises without the prior written approval of Landlord. Such installations, and the
boring or cutting for wires, shall be made at the sole cost and expense of such tenant and under
control and direction of Landlord. Landlord retains, in all cases, the right to require (i) the
installation and use of such electrical protecting devices that prevent the transmission of excessive
currents of electricity into or through the Building, (ii) the changing of wires and of their
installation and arrangement underground or otherwise as Landlord may direct, and (iii)
compliance on the part of all using or seeking access to such wires with such rules as Landlord
may establish relating thereto. All such wires used by such tenants must be clearly tagged at the
distribution boards and junction boxes and elsewhere in the Building, with (i) the number of the
leased premises to which said wires lead, (iil the purpose for which said wires are used, and (iii)
the name of the company operating same.
10. Tenant, its agents, servants or employees, shall not, except as otherwise permitted under its
lease, (a) go on the roof of the Building, (b) use any additional method of heating or air
conditioning in its leased premises, (c) sweep or throw any dirt or other substance from its leased
premises into any of the halls, corridors, elevators, or stairways of the Building, (d) bring in or
keep in or about its leased premises any vehicles, bicycles or animals of any kind, (e) install any
radio or television antenna or any other device or item on the roof, exterior walls, windows or
window sills of the Building, (f) place objects against glass partitions, doors or windows which
would be unsightly from the interior or exterior of the Building, (g) use any leased premises: ( 1)
for lodging or sleeping,(2)for cooking(except that the use by any tenant of equipment for brewing
coffee, tea and similar beverages shall be permitted as well as counter top microwave cooking,
27
provided that such use is in compliance with law), (3) for any manufacturing, storage or sale of
merchandise or property of any kind; and (h) cause or permit unusual or objectionable odor to be
produced or permeate from its leased premises, including, without limitation, duplicating or
printing equipment fumes. Tenant, its agents, servants and employees, invitees, licensees, or
visitors shall not permit the operation of any musical or sound producing instruments or device
which may be heard outside leased premises, Building, or which may emit electrical waves which
will impair radio or television broadcast or reception from or into the Building.
11. Tenants shall not store or use in any leased premises any (a) ether, naphtha, phosphorous,
benzol,gasoline,benzine,petroleum,crude or refined earth or coal oils,flashlight power,kerosene
or camphene, (b) any other flammable, combustible, explosive or illuminating fluid, gas or
material of any kind, and(c) any other fluid, gas or material of any kind having an offensive odor,
without the prior written consent of Landlord.
12.No canvassing, soliciting, distribution of hand bills or other written material, or peddling shall
be permitted in the Building or the Project, and tenants shall reasonably cooperate with Landlord
in prevention and elimination of same.
13. Tenant shall give Landlord prompt notice of all accidents to or defects in air conditioning
equipment,plumbing, electrical facilities or any part of appurtenances of leased premises.
14. If any leased premises becomes infested with vermin, any tenant, at its sole cost and expense,
shall cause its premises to be exterminated from time to time to the satisfaction of Landlord and
shall employ such exterminators as shall be approved by Landlord, except in the event such
infestation is due to Landlord's culpable negligence or willful misconduct.
15. No curtains, blinds, shades, screens, awnings or other coverings or projections of any nature
shall be attached to or hung in, or used in connection with any door,window or wall of any leased
premises of the Building without the prior written consent of the Landlord, which consent shall
not be unreasonably withheld or delayed.
16. Wherever the word "tenant" occurs, it is understood and agreed that it shall also mean any
tenant's associates, employees, agents and any other person entering the Building or leased
premises under the express or implied invitation of such tenant. Tenant shall cooperate with
Landlord to assure compliance by all such parties with rules and regulations.
17. Landlord reserves the right to make reasonable amendments, modifications and additions to
the rules and regulations heretofore set forth, and to make additional reasonable rules and
regulations, as in Landlord's reasonable judgment may from time to time be needed for the safety,
care, cleanliness and preservation of good order of the Building; provided that the same shall be
non-discriminatory and applied consistently to all tenants in the Building.
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18. A tenant shall not do anything in its leased premises, or bring or keep anything herein, which
will in any way increase or tend to increase the risk of fire or rate of insurance, or which shall
conflict with the regulations of the fire department or the fire laws or with any insurance policy on
the Building or any part thereof, or with any rules or ordinances established by Municipal
Authority.
19. Landlord shall have the right, exercisable without notice and without liability to any tenant, to
change the name of the Building.
20. A tenant shall not in any manner use the name of the Project for any purpose other than that of
the business address of such tenant, or use any picture or likeness of the Project,in any letterheads,
envelopes, circulars, notices, advertisements, containers or wrapping material,without Landlord's
express consent in writing.
21. A tenant shall not overload any floor or part thereof in its leased premises or other areas of the
Building, including any public corridors or elevators therein bringing in or removing any large or
heavy articles, and Landlord may reasonably direct and control the location of safes and all other
heavy articles and reasonably require supplementary supports at the tenant's expense of such
material and dimensions as Landlord may reasonably deem necessary to properly distribute the
weight.
22. The utility closets,telephone closets,electrical closets,and other such closets,rooms and areas
shall be used only for the purposes and in the manner designated by Landlord, and may not be
used by any tenants, or their contractors, agents, employees, or other parties, without Landlord's
prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed.
23. Landlord reserves the right to exclude or expel from the Project any person who, in the
judgment of Landlord, is intoxicated or under the influence of liquor or drugs, or who shall in any
manner do any act in violation of any of these Rules and Regulations. Tenants shall not at any time
manufacture, sell,use or give away, any spirituous,fermented,intoxicating or alcoholic liquors on
the Property, nor permit any of the same to occur (except in connection with occasional social or
business events conducted in its premises which do not violate any laws nor bother or annoy any
other tenants).
24. A tenant shall conduct no auction, fire or "going out of business" sale or bankruptcy sale in or
from the Premises, and such prohibition shall apply to such tenant's creditors.
25.A tenant shall cooperate and comply with any reasonable safety or security programs,including
fire drills and air raid drills, and the appointment of"fire wardens" developed by Landlord for the
Property, or required by law. Before leaving its premises unattended, a tenant shall close and
securely lock all doors or other means of entry to the premises and shut off all lights and water
faucets in the premises (except heat to the extent necessary to prevent the freezing or bursting of
pipes).
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26. Only authorized employees or agents of a tenant having a right of access to the roof of the
Building for the limited purpose of installing, maintaining and operating an antenna, or antenna,
shall be permitted on the roof of the Building. Any such tenant having an authorized antenna on
the roof of the Building shall provide the Landlord with a list of its employees and agents
authorized, on behalf of the tenant to enter onto the roof of the Building to install, maintain and
operate the antenna. The Building manager and the Building security personnel will maintain
custody of the access key to the door providing access to the roof of the Building. Authorized
individuals shall be entitled to access to the roof during normal business hours for all routine
matters relating to installation,maintenance or operation of the antenna. Access to the roof during
non-business hours shall only be available in case of an emergency. Anyone entering the roof shall
stay within designated walkways and shall not throw, drop or allow foreign objects to be blown
over the edge of the roof. Any and all trash, paints, tools, or similar items shall be removed from
the roof and the area shall be left in a clean and neat condition.
27.The interior of the Building is a"non-smoking"environment.Tenants,their agents,contractors,
employees and invitees agree that smoking will be permitted in the outside plaza level areas of
Building Complex only, and in conformance with relevant local ordinances.
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SCHEDULE 3—UTILITY SERVICES
The Landlord shall provide the following utility services:
1. Air Conditioning and heat for normal purposes only, to provide in Landlord's judgment,
comfortable occupancy Monday through Friday from 7:00 a.m. to 6:00 p.m., Saturday, 8:00 a.m.
to 2:30 p.m., and Sundays and Holidays excepted. Tenant agrees not to use any air conditioning
or heating apparatus or device, in or upon or about the Leased Premises, and Tenant further agrees
not to connect any such apparatus or device with the conduits or pipes, or other means by which
such services are supplied,for the purpose of using additional or unusual amounts of such services,
without written consent of the Landlord. In the event Tenant does request after-hours air
conditioning, heating, electrical/lighting, such services shall be available at the rate charged by
Landlord for such services from time to time. The charge shall be payable as additional Rent.
2. Electric power for lighting and operation of office machines, air conditioning and heating
as may be required for comfortable occupancy of the premise between Monday and Friday from
7:00 a.m. to 6:00 p.m., Saturday, 8:00 a.m. to 2:30 p.m., and Sundays and Holidays excepted.
Electric power furnished by Landlord is intended to be that consumed in normal office use for the
lighting, heating ventilating, air conditioning and small office machines. Tenant's use of electric
power shall never exceed the capacity of the feeders to the Building of which the Leased Premises
is located or the risers or wiring installation.
3. Water for drinking, lavatory and toilet purposes from the regular Building supply (at the
prevailing temperature) through fixtures installed by Landlord, (or by Tenant with Landlord's
written consent).
4. In the event that Tenant has unusual needs with regard to the services to be provided by
Landlord that would cause utilization to exceed that required for normal office use as specified,
including but not limited to, any unusual utility usage or installation, Tenant shall immediately
notify Landlord in writing of same. Landlord, at its option, may (i) cause same to be separately
metered at Tenant's expense including the expense of installation of such meters or(ii) equitably
estimate the cost thereof to be charged directly to Tenant at the rate charged by Landlord for such
services in the Building from time to time. The charge shall be payable as additional Rent. If
Tenant fails to give Landlord written notice of Tenant's unusual needs for services, Landlord may
back-charge Tenant for an equitable amount to compensate Landlord for such extra usage.
31
SCHEDULE 4—JANITORIAL AND MAINTENANCE SERVICES
1. Subject to the terms of the Lease, Landlord shall supply public rest room supplies, public
and demised area lamp replacement, window washing with reasonable frequency, and janitorial
services to the Common Areas and Leased Premises which shall include the vacuuming of carpeted
areas twice per week and the emptying of wastepaper baskets daily, during weekdays.
2. Landlord agrees to maintain the exterior and interior of the Building to include lawn and
shrub care, snow removal, maintenance of the structure, roof, floor and latent defects, mechanical
and electrical equipment, architectural finish, and so on, excluding only those items specifically
excepted elsewhere in this Lease.
32
SCHEDULE 5—GROSS RENT
INITIAL PERIOD Gross Rent(PSF) Annual Gross Rent Monthly Gross Rent
03/01/2021 —02/28/2022 $15.20 $37,878.40 $3,156.53
03/01/2022—02/28/2023 $15.66 $39,024.72 $3,252.06
OPTION PERIOD: Tenant shall have the right to exercise an additional two-year option term
to extend the Lease at Tenant's sole discretion ("Option Period"). Gross Rent shall be payable
monthly according to the following schedule:
Two-Year Term: Gross Rent(PSF) Annual Gross Rent Monthly Gross Rent
03/01/2023 —02/28/2024 $16.13 $40,195.96 $3,349.66
03/01/2024—02/28/2024 $16.61 $41,392.12 $3,449.34
33
SCHEDULE 6—PARKING
"Project Parking Facilities",as said term is used here,includes those parking spaces located within
the Project and those municipal permit parking spaces purchased by Landlord from the City of
Greeley and which are located within a one and one-half(11/2)block radius of the Project.
Landlord hereby grants to Tenant a license to the use during the term of this Lease,at no additional
cost to Tenant, of five (5) parking spaces in the Project Parking Facilities.
On an availability basis only, as determined by Landlord in its sole discretion, Landlord will grant
to Tenant a license to the use of such additional parking spaces ("Additional Fee Spaces") in the
Project Parking Facilities as may be requested by Tenant from time to time. Tenant's license to the
use of any or all of these Additional Fee Spaces shall continue only through the period that they
are held continuously by Tenant and not relinquished to Landlord. Additional Fee Spaces shall be
charged at the rate charged by Landlord from time to time;however,Landlord's rate for Additional
Fee Spaces will not exceed Landlord's cost to purchase municipal permit parking spaces from the
City of Greeley.
The following rules and regulations shall apply regarding the Project Parking Facilities:
(a) Tenant agrees not to overburden the Project Parking Facilities and agrees to cooperate
with Landlord and other tenants in the use of Project Parking Facilities. Parking, for a tenant and
its employees and visitors, on those parking spaces located within the Project shall be on a "first
come, first served," unassigned basis, with Landlord and other tenants at the Project, and their
employees and visitors, and other persons to whom Landlord shall grant the right or who shall
otherwise have the right to use the same,all subject to these rules and regulations, as the same may
be reasonably amended or supplemented, and applied on a non-discriminatory basis.
Notwithstanding the foregoing to the contrary,Landlord reserves the right to assign specific spaces
located within the Project, and to reserve spaces for visitors, small cars, handicapped individuals,
and other tenants, visitors of tenants or other persons, and a tenant and its employees and visitors
shall not park in any such assigned or reserved spaces. Landlord may restrict or prohibit full size
vans and other large vehicles. Landlord may set aside a portion of the parking areas near the
Building entrance for parking by visitors of the tenants. Landlord may,in its reasonable discretion,
change the location and nature of the parking spaces available to Tenant, provided that after such
change, there shall be available to Tenant approximately the same number of spaces as available
before such change.
(b) Access to the Project Parking Facilities may be controlled by a cardkey system; cars
must be parked entirely within the stall lines, and only small cars may be parked in areas reserved
for small cars;all directional signs and arrows must be observed;the speed limit shall be five miles
per hour; spaces reserved for handicapped parking must be used only by vehicles properly
designated; every parker is required to park and lock his own car; washing, waxing, cleaning or
servicing of any vehicle is prohibited; parking spaces may be used only for parking automobiles;
34
parking is prohibited in areas: (i) not striped or designated for parking, (ii) aisles, (iii) where "no
parking" signs are posted,(iv)on ramps,and(v)loading areas and other specially designated areas.
Delivery trucks and vehicles shall use only those areas designated therefor.
(c) In case of any violation of these provisions, Landlord may refuse to permit the violator
to park or to take such other steps necessary, including but not limited to policing and towing,
without liability whatsoever, at such violator's risk and expense. Landlord reserves the right to
close all or a portion of the parking areas or facilities in order to make repairs or perform
maintenance services, or to alter, modify, re-stripe or renovate the same, or required by casualty,
strike, condemnation, act of God, law or governmental requirement, or any other reason beyond
Landlord's reasonable control. In the event access is denied for any reason, any monthly parking
charges shall be abated to the extent access is denied, as Tenant's sole recourse. Tenant
acknowledges that such parking areas or facilities located within the Project may be operated by
an independent contractor not affiliated with Landlord, and Tenant acknowledges that in such
event, Landlord shall have no liability for claims arising through acts or omissions of such
independent contractor, if such contractor is reputable.
35
RE: PEEK GOLDSTONE LLC LEASE
APPROVED AS SUBSTANCE:
Elected 0 ci or Department Head
APPROVED AS TO FUNDING:
Controller
APPROVED AS TO FORM:
PR
County Attorney
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