You are on page 1of 3

Property Name

Tenant Lease Abstract


PARTIES:
Tenant Name: Tenant DBA: -
Tenant Address: Address City, State, Zip: City, State Zip
Landlord Name: Landlord
Date Prepared 2/4/2019
TENANT SPACE INFORMATION:
Floor #: -
Suite #: 201
Tenant space info: 2,365 SF
Building Rentable Area: 26,289 SF
Notes: -
TERM, LEASE INDEX and NOTES:
Lease Agreement Date: 11/15/2017
Lease Addendum / Amendment None.
Delivery date: No language noted
Lease Commencement Date : 3/1/2018
Rent Commencement Date : 3/1/2018
Lease Expiration Date: 2/28/2021
Lease Index: A) Lease Agreement dated 02/15/2018
Guarantor: None.
Brokers involved LL Agent:
T Agent:
Notes: Lease Commencement Date & Expiration Date: Per Lease Term shall be (3) years from the Commencement Date. Commencement
Date shall be the the Commencement Date shall be the later of 03/01/2018 or the date on which LL completes all of the work. All the
dates are contingent, hence abstract assume and reflects Commencement Date as 03/01/2018, and Expiration date as 02/28/2021 per
Lease Agreement.

BASE RENT & RENEWAL Summary:


Rent Abatement: No language noted.
Base Rent: Lease Summary; Sec: 6
Term Begin End Annual Monthly PSF Rate SqFt
Base 3/1/2018 2/28/2019 $59,182.44 $4,931.87 $25.02 2,365 SF
Base 3/1/2019 2/29/2020 $60,957.91 $5,079.83 $25.78 2,365 SF
Base 3/1/2020 2/28/2021 $62,786.65 $5,232.22 $26.55 2,365 SF
Notes: Adjustments to Base Rental: Commencing as of the first Adjustment Date and thereafter on each succeeding Adjustment Date during
the Lease Term, the Annual Base Rental for the upcoming (12) month period shall be determined by multiplying the Annual Base Rental
for the immediately preceding (12) month period by (103%), which annual increases are reflected on the Base Rental schedule set forth in
the Lease Sumnary. Sec: 6.1

Rent Changeover day: In advance, in twelve (12) equal installments on the first day of each calendar month during the Lease Term. Sec:
5.1

Advance Base Rental Payment: $4,931.87/month. Lease Summary


Renewal Option(s): Option Term: One (1) three (3) years options to extend the Lease Term.

Renewal Rent:
Year 4 - $64,670.25/annum;
Year 5 - $66,610.36/annum;
Year 6 - $68,608.67/annum.

Notice Period: T by providing notice to LL at least (120) days prior to the end of the Lease Term. Lease Summary

T IMPROVEMENT ALLOWANCE:
T.I. Costs: No language noted.
DEPOSIT INFORMATION:
Security Deposit: One month’s rent equal to $4,931.87. If the Lease Summary provides for a Security Deposit to be paid by T to LL, then as security for the
performance of its obligations under this Lease, T, simultaneously with the execution of this Lease, shall pay to LL a security deposit (the
“Security Deposit”) in the amount stated in the Lease Summary. LL shall not pay any interest on the Security Deposit. Within thirty (30)
days after the expiration date of the Lease Term, LL shall return to T the balance, if any, of the Security Deposit. Lease Summary; Sec: 28

Late Fee: No language noted

Tenant Name Page 1 of 3


Property Name
ADDITIONAL RENT:
CAM-NNN or BY stop: Payment: With respect to each calendar year or portion thereof during the Lease Term (and any renewal or extension thereof), T shall
pay LL, as Additional Rent, in the manner hereafter provided, T’s Proportionate Share of the amount by which Basic Costs paid or
incurred by LL during such period (grossed up, if necessary, to reflect occupancy of (95%) of the rentable space in the Building as
contemplated) exceeded the Basic Costs Expense Stop.

Adjustments for Increases in Basic Costs: lt is acknowledged and agreed that it will not be possible to determine the actual amount of
the excess (if any) of Basic Costs over the Basic Costs Expense Stop for a given calendar year until after the end of such calendar year.
Therefore, until T’s liability for T’s Proportionate Share of Basic Costs in excess of the Basic Costs Expense Stop shall have been finally
determined for a particular calendar yea Commencing as of 12/01/2018, and continuing throughout the Lease Term (and any renewal or
extension thereof), and subject to the limitation expressed above, LL shall make a good faith estimate of Basic Costs for such calendar
year and T’s Proportionate Share thereof (hereinafter “Estimated Basie Costs” and “T’s Estimated Proportionate Share”). Sec: 7

T’s Proportionate Share: shall means that fraction, the numerator of which is the Premises Net Rentable Area and the denominator of
which is the Building Net Rentable Area. Sec: 1.26

Gross Up: 95%. Sec: 7

Base Year: 2018. Lease Summary

CAP: T’s Proportionate Share of any increase of “Basic Controllable Costs” (i.e., Basic Costs other than for taxes, insurance, utility
usage and snow and ice removal) over the Basic Costs Expense Stop shall not exceed 105% of T’s obligation for Basic Controllable Costs
in the previous year.

Proration: If T shall be obligated to make payments as aforesaid with regard to any partial calendar year during the Lease Term, T’s
Proportionate Share of Basic Costs in excess of the Basic Costs Expense Stop shall be prorated on the basis of the number of days during
such calendar year for which T is obligated to make such payments. Sec: 7

P/R share T's PRS: 9%. T's Proportionate Share means that fraction, the numerator of which is the Premises Net Rentable Area and the denominator
of which is the Building Net Rentable Area. Lease Summary, Sec: 1.26

OPEX definitions: "Basic Costs" shall mean and include: all expenses relating to the Building and the Building Exterior Common Areas. Sec: 1.7
Real Estate Taxes: Included in Basic Costs. Sec: 1.7
Insurance: Included in Basic Costs. Sec: 1.7
Utilities: Included in Basic Costs. Sec: 1.7

After hours HVAC: No language noted.


Other: Parking: During the Lease Term, T shall have, without charge, the non-exclusive right to use, in common with LL, other Ts of the
Building, and their respective guests and invitees, the automobile parking areas, driveways, and footways located on the Land.
Notwithstanding the terms and provisions in the immediately preceding sentence, (i) T and T’s guests and invitees shall not, at any given
time, be entitled to use more than four (4) parking spaces for each l,000 square feet of Premises Net Rentable Area, and (ii) LL shall have
the right during the Lease Term to reserve parking spaces on the Land for the exclusive use of other Ts in the Building, provided the
reservation of such spaces for the exclusive use of other Ts in the Building does not have the effect of denying T the non-exclusive use of
four (4) parking spaces for each 1,000 square feet of Premises Net Rentable Area. Sec: 14

Tenant Name Page 2 of 3


Property Name
OPTIONS:
Termination: No language noted.
Right of First Offer / Refusal: No language noted.
Permitted Use: The Premises shall be used for office purposes and for no other purposes. Sec: 4
Expansion: No language noted.
LL/T RIGHTS
Holdover T at will, 150% Base Rental together with all applicable Additional Rent which would have been applicable had the Lease Term
continued through the period of such holding over by T. Sec: 30
SNDA T accepts this Lease subject and subordinate to any mortgage, deed of trust, or other lien presently existing or hereafter arising upon the
Premises, the Building and/or the Land, and to any renewals, medications, refinancings and extensions thereof, provided that the
holder/beneficiary of any such mortgage, etc., shall be bound to not disturb T’s occupancy of the Premises under this Lease and all its
rights and options under this except in the case of an Event of Default, and T further agrees that any such Mortgage shall have the right
(without seeking or obtaining T’s consent) at any time to subordinate such mortgage, deed of trust or other lien to this Lease. T agrees to
cooperate and execute and deliver such further instruments subordinating this Lease or attorning to the holder of any such liens consistent
with the terms of this paragraph as LL may request within (15) days of the date of such request. Sec: 31

Estopples: T agrees that it will from time to time upon request by LL and within (15) days of such request, cooperate and execute and deliver to such
persons as LL. Sec: 32
Assignment/Sublease: With Consent: T shall not assign this Lease or sublet all or any part of the Premises or make any other transfer of its interest in the whole
or any portion thereof, directly or indirectly, at any time during the Lease Term without the prior written consent of LL (which shall not
be unreasonably withheld, conditioned or delayed). Sec: 18.1

Without Consent: T shall have the right to assign this Lease or sublease all or a portion of the Premises without LL’s consent to (i) any
entity resulting from a merger or consolidation of T, (ii) any entity succeeding to all of the business and assets of T, and/or (iii) any
subsidiary or Afliliate of T, and Paragraphs 18.3 and 18.7 shall not apply to such permitted assignment or sublease; provided, however,
that T shall promptly notify LL of any such assignment or sublease pursuant to Paraggh 18.8. Sec: 18.2

Recapture Rights: LL shall have the option (without limiting LL’s other rights hereunder) of terminating this Lease with respect to the
portion of the Premises subject to the proposed assignment, subletting or transfer upon thirty (30) days’ notice and of dealing directly
with the proposed assignee, subtenant or transferee, but if LL should fail to notify T in writing of its decision within a thirty (30) day
period after LL is notified in writing of the proposed assignment, sublease or other transfer, LL shall be deemed to have refused to
consent to such assignment, sublease or transfer and to have elected to keep this Lease in full force and effect. Sec: 18.3(a)

Profit Share: 50%. Sec: 18.3(b)

Liability: If T assigns, sublets or makes any other transfer of all or any portion of its interest(s) hereunder, T named in this Lease shall
remain directly and primarily responsible for the faithful performance and observance of all of the covenants and obligations on T’s part
to be performed in this Lease.

T shall give LL prompt written notice of any assignment or sublease that is completed by T pursuant to this Paragraph 18, and each such
written notice shall include the complete name and notice address of the assignee or subtenant. Sec: 18.8

Tenant & LL R & M LL’ Maintenance: LL shall be responsible for maintaining, repairing and replacing: the roof foundations, exterior walls and all structural
parts of the Building: all portions of the Premises affected by structural conditions whose source lies outside the Premises; all Common
Areas and Building Exterior Common Areas: all utility sprinkler service, electrical and plumbing lines and HVAC systems outside the
Premises but which serve the Premises on a non-exclusive basis; and all utility sprinkler service electrical and plumbing lines and HVAC
systems within the Premises but which serve other space within the Building. Sec: 10

T’s Maintenance: T shall, at its expense, keep and maintain the Premises in good order and repair and not commit or allow any waste to
be committed on any portion of the Premises; and at the termination of this Lease, T agrees to deliver up the Premises to LL in as good of
a condition as existed on the Commencement Date, excepting only ordinary wear and tear, acts of God and repairs required to be made by
LL pursuant to the terms of this Lease.

T at its own Expense, shall provide janitorial services for the Premises.

T shall, at T’s own cost and expense, repair or replace any damage done to the Common Areas, the Building Exterior Common Areas, the
Building, or any part thereof(including the Premises), caused by T or T’s agents, employees, invitees, or visitors, and such repairs shall
restore the damaged area to as good of a condition as existed prior to such damage and shall be effected in compliance with all applicable
laws; provided, however, if, within a reasonable period following written notice from LL of the need for such repairs or replacements, T
fails to make such repairs or replacements promptly, LL may, at its option, make the repairs or replacements, and T shall pay the cost
thereof to LL as Additional Rent within thirty (30) days after LL submits to T an invoice therefor. Sec: 11
ADDITIONAL INFORMATION:
Missing Documents: None.
Unexecuted Documents: None.

Tenant Name Page 3 of 3

You might also like