SER – JOBS FOR PROGRESS, INC. - Laserfiche WebLink

Home Browse Search

Schedule "J-1" Extension Options I. Grant of Option. Subject to all of the terms and conditions of this Schedule "J-P In connection with Tenant's lease of the Premises, Tenant slmll have two (2) options (each an "Extension Option") to extend the term of this Lease as to the entire Premises then subject to tins Lease, each for on additional term (each "Extension Term") of sixty (60) months, subject to and upon the tennis and conditions contained in this Schedule "1_I ". The Extension Term shall commence upon the day immediately following the then scheduled Expiration Date, and shell be open the same teams and conditions as art provided for in this Lease, as then nmended, except that: (a) if Tenant fails to timely exercise the Extension Option, the Extension Option (and any other rights to extend or renew the Tenn) shall lapse and Tenant shall hove no further right to extend the Term of tha Lease, (b) there shall be no further options to extend the Term pursuant to this Schedule "1-I" or otherwise following the second (2"a) Extension Tenn, (c) Tenant shall not be entitled to any credit against Rent or spy other rent concession or rent allowance or abatement of Rent, except as specifically provided in the dermillon of the FMRR, (d) the Base Rent for Ore Extension Term shall be as provided in Section 3 orthis Schedule "J- Ilf, and (e) the Base Year for the Extension Tenn shall be the calendar year in which die Extension Term commences. 2 Cxerekse. An Extension Option maybe exercised only by Tenant giving written notice of exercise (an "Extension Notice") to Landlord on or befbre the date that is not more than twelve (12) and not less than nine (9) months prior to the then scheduled Expiration Date. If Tenant does not deliver an Extension Notice to Landlord within the time period set forth above (time being of the essence), then Tenant shall be deemed to have forever waived and relinquished the Extension Option, and any other options or rights to renew or extend the Term effective after the then Expiration Date she]I terminate, 3 Annual Base Ron. The Base Rent payable Far the Premises during an Extension Tenn (the "Extension Term Base Rent") shall be equal to (a) the Rentable Area of the Premises then subject to this Lease, multiplied by (b) the FMRR of the Premises as of the first day (an "Adjustment _A Date") ofsuch Extension Term, and shall be determined as follows. 3.1 if Tenant duly exercises the Extension Option, Landlord shall within thirty (30) days thereafter, deliver to Tenant a written notice (a "Market Rent Notice") of Landlord's determination of what Landlord then believes the FMRR (and Extension Terns Base Rent) would be for the Premises during die Extension Term. 3.2 Within ten (10) days after Tenant's receipt of a Market Rent Notice, Tenant shall deliver to Landlord written notice (a "Market Nett Response Notice") electing either: (a) to accept the FMRR (and Extesision Term Base Rent) set forth in the Market Rent Notice, in which case the FMRR (and Extension Tenn Base [tent) shall be as set forth in the Market Rent Notice, or (b) to reject Landlord's determination of the FMRR (and Extension Term Base Rent), in which case the FMRR (and Extension Term Base Rent) shall be determined in accordance with Schedule "J-3". 3.3 [f Tempt fails to deliver Tenant's Market Rent Response Notice within tell (10) days after its receipt of a Market Rent Notice (o' Fails in its Market Response Notice to expressly reject Landlord's determination of the FMRR (and Extension Temt Base Rent) set forth in a Market Rent Notice), Tenant shall conclusively be deemed to have accepted Landlord's determination of [he FMRR (and Extension Term Base Rent) set forth in the Market Rent Notice. NO W Civic Center Or—Ga- n(Snnta..lnn Leave -2- Exhibit J