with Customer/Tenant Improvement Rider
This lease is made between North Forest II Development LLC ("Landlord"), with a corporate mailing address of 2829 Wehrle Drive, Suite 1, Williamsville, NY 14221, and ______ ("Customer"), with a mailing address of 11924 Ring Dr Bldg 1, Suite #Building 1, Manor, TX 78653. Landlord hereby leases to Customer, and Customer accepts, 11924 Ring Dr Bldg 1, Suite #Building 1 Manor TX, 78653 (“Premises”) in the 11924 Ring Drive (“Office Park”) in the Town of Manor County of Travis with an approximate size of 2,728 square feet.
UPON THE FOLLOWING TERMS AND CONDITIONS:Initial Term. The Initial Term of this Lease shall be a period of 3 years commencing on ("Commencement Date") the earlier of: (i) when customer begins business operations in the Premises or (ii) 90 days after the Premises is delivered to Customer in Gray Shell Condition. The date the Landlord delivers the Premises to the Customer is defined as the "Delivery Date". See Tenant Improvement Rider for further definition and details.
# Pmts | From | To | Sqft ± | Rate | Annual | Monthly | |
---|---|---|---|---|---|---|---|
12 | Period 1, 12 Months | 2,728 | $41.50 | $113,211.96 | $9,434.33 | ||
12 | Period 2, 12 Months | 2,728 | $42.25 | $115,257.96 | $9,604.83 | ||
12 | Period 3, 12 Months | 2,728 | $43.00 | $117,303.96 | $9,775.33 |
The following rules are applicable to all customers at 11924 Ring Drive
Delivery of Premises. Landlord will deliver the Premises to Customer so that Customer's General Contractor(s) and Subcontractors may construct the interior of the Premises (the “Customer Work”). Upon delivery, the Premises shall be in "Gray Shell Condition" defined as: (i) an interior demising wall (studs only) defining the Premises; (ii), any shell insulation below the roof deck, the attic and exterior walls; (iii) all utilities to the boundary of the Premises; (iv) Premises shall be free of construction materials or debris, and secure access to the Premises with keys provided to Customer; and (v) concrete interior floors with Landlord’s standard underground plumbing.
Customer/Tenant Improvement Allowance. Landlord will provide Customer a ________ per rentable square foot Customer improvement allowance (“TI Allowance”) for construction related costs for the Customer to complete their Customer Work. Upon completion, Customer will provide Landlord with a copy of the Certificate of Occupancy issued for the Premises. The TI Allowance will be paid to Customer within 30 days of receipt of the Certificate of Occupancy and unconditional lien waiver from contractors (see Lien Waivers). Customer shall reimburse Landlord for all TI Allowance funds distributed to Customer if the Customer fails to fulfill the Initial Term due to and Event of Default by Customer.
Plan Review and Approval. Customer shall submit preliminary documentation of the Customer Work to Landlord in the following manner: (i) The anticipated layout/floorplan ("Customer's Floorplan") at least 30 days prior to submitting for municipal permits and approvals and (ii) full construction plans ("Customer's Plans") at least 10 days prior to submitting said plans for municipal permits and approvals.
The Customer Work can begin only after Landlord has given approval of Customer's Floorplan and Customer's Plans. Landlord will make reasonable efforts to return response within one week of receipt. No response from Landlord shall be considered disapproval. Landlord's approval may be conditioned upon any aspect of the materials, design or construction approach.
If Landlord disapproves the Customer’s Plans or any portion thereof, Landlord will notify Customer of its disapproval and of any changes Landlord requires. Customer must then provide Landlord and updated version of Customer's Plans for review and approval before work can begin.
Construction Specifications. The Customer Work shall be completed in accordance with the plans and specifications to be prepared by Customer and approved by Landlord as described in Plan Review. Landlord will provide mechanical (HVAC & Electrical) locations as per North Forest Standards. Landlord and Customer agree to coordinate the installation of any underground plumbing as Landlord may have already installed underground plumbing to the Premises, which must not be damaged.
All Customer Work shall be (i) completed in good and workmanlike manner and shall be in conformity with all applicable building codes and other government requirements; (ii) lien-free, (iii) at such times, in such manner and subject to such rules and regulations and construction standards as Landlord may from time to time reasonably designate, so as to minimize interference with other construction in progress and with the transaction of business in the Office Park and (iv) in compliance with all rules shown in Exhibit C - Construction Rules.
All Customer Work undertaken by Customer must not damage the Office Park or any part thereof. Customer is responsible for the repair of any damage resulting from the Customer's Work, in particular, leaks from roof or exterior penetrations.
At all times during construction of the Customer Work on the Premises, Customer shall indemnify and hold harmless Landlord against all risks and claims of loss, liability, damage or injury to persons and properties arising in connection with any such construction or work on the Premises and the Office Park.
Fire Protection System. For warranty and operations reasons, Customer must utilize the same vendor as North Forest to complete Customer's finish out and start up of the fire protection system in the Premises.
Care and Maintenance of Premises. Except for Landlord’s maintenance obligations described in Care and Maintenance of Office Park and Premises, Customer shall maintain the Premises in good condition and repair, including without limitation, all interior doors and locks, ceilings, interior windows, walls, appliances, cabinets, flooring and carpeting, normal wear and tear excepted. Landlord is not responsible for service or repair of any scope of work that was completed as Customer Work including, without limitation, HVAC, other trade specific equipment (for example, dental chairs or medical equipment) or materials and craftsmanship installed by the Customer or Customer’s vendors, contractors and/or subcontractors.
Ownership of Improvements. All improvements and alterations constructed or installed by Customer as part of the Customer Work shall become the property of Landlord following the expiration or termination of this Lease (excluding trade specific equipment like dental chairs or medical equipment) unless otherwise agreed by Landlord in writing or as otherwise provided in this Lease.
Lien Waivers. Customer shall provide Landlord with an unconditional lien waiver from Customer’s contractor(s) prior to payment of the TI Allowance.
Insurance Requirements and Hold Harmless During Construction. At all times while Customer Work is being performed by or on behalf of Customer at the Premises, Customer or its Contractors must maintain “Builder’s Risk” insurance, covering the full replacement value of all such work being performed, naming Landlord as an "Additional Insured”, and being written in amounts of coverage that meet any coinsurance requirements of the policy or policies. Additionally, Customer and its Contractors must carry general liability insurance in an amount that meets Landlord’s minimum insurance requirements as outlined in Exhibit D naming Landlord as “Additional Insured" at all times during the construction and performance of the Customer Work. Customer must provide Landlord with certificates of insurance evidencing such policy or policies prior to the commencement of any Customer Work.
Customer agrees to indemnify and hold North Forest and its parents, subsidiaries and affiliates, including North Forest II Development LLC and North Forest Development - Austin, LLC harmless for any claims of liability for injury, property damage or mechanics liens arising out of the work being performed by Customer, its contractors, and subcontractors.
It is highly recommended that Customer obtain a copy of the contractor's Certificate of Insurance and confirm the existence of the indemnification and hold harmless.
Customer, Customer’s General Contractor(s) and subcontractors (hereafter collectively referred to as "Contractors") will be required to comply, at all times, with all construction rules as shown below. Landlord shall have the right to remove contractors (temporarily or permanently) for violating the rules below.
To the fullest extent permitted by local applicable law, the contractor shall defend, indemnify and hold harmless North Forest and their respective agents, officers, directors and employees, et al from and against any and all claims, demands, damages, losses and expenses including but, not limited to, reasonable attorney’s fees, arising out of or resulting from the contractor’s performance of the work, as provided herein and in the contract, including claims arising from or in connection with the act or omission of the contractor or any subcontractor, anyone directly or indirectly employed by any of them, or anyone for whose acts any of them may be liable, including any claims relating to any equipment (if any) or the use of any equipment. Such obligation shall not be construed to negate, abridge, or otherwise reduce any other right or obligation of indemnity which would otherwise exist to any party or person described in this paragraph.
The failure of North Forest to insist in any one or more instances upon a strict compliance with any provision of this contract, or to exercise any option herein conferred, shall not be construed as a waiver or relinquishment of the right of North Forest thereafter to require compliance with such provision of this contract, or a waiver of the right of North Forest thereafter to exercise such option, but such provision or option will remain in full force and effect.
Failure to maintain the insurance coverage required herein throughout the life of this contract shall constitute a material breach of the contract. It is the contractor’s obligation to provide North Forest with current certificates of insurance.