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ADT BUILDING| LEASE ABSTRACT
Lessee:
ADT Security Services, Inc., a Delaware corporation
Lease Date:
August 31, 2010
Commencement:
October 1, 2011
Initial Term:
12 Years
Current Expiration:
September 30, 2023 with one option to renew Lease for five (5) years at 95% of prevailing market rate
Use:
General business use
Square Feet:
171,489 SF
Pro Rata Share:
100%
Annual Rent Steps:
2.0%
Rent Schedule:
Operating
Expenses:
Tenant shall pay to Landlord, with each payment of Base Rent, Tenant’s Proportionate Share of all Taxes. Tenant shall
have the option to obtain, at its sole expense, the insurance required by the Lease. Tenant pays all Insurance Premiums,
utilities (gas, electricity, water & sewer) and all other operating costs and expenses incurred by Landlord attributable to
the Premises. However, Tenant shall obtain and procure, at its sole cost and expense, all utilities and services required or
consumed by Tenant at the Premises or in connection with the repair, replacement and/or maintenance of the Premises by
Tenant, including but not limited to: gas; electricity; telephone; water & sewer; janitorial; elevator maintenance and repair;
generators (except as expressly set forth in Lease); fire and life safety; landscaping; plumbing lines serving cafeteria; routine
pressure cleaning of exterior walls and window cleaning; routine asphalt sealing, striping and patching; security.
Maintenance:
Tenant Responsibilites:
Unless specifically covered by Landlord’s obligations expressly set forth in Lease, Tenant shall, at its
sole cost and expense, keep and maintain in good repair and working order and make repairs to and perform maintenance
upon and replace as needed all aspects of the Premises that are non-structural except HVAC. Tenant is responsible for their
own property management.
Landlord Responsibilities:
During the entire Term, Landlord, at its sole cost and expense, shall be responsible for HVAC
maintenance and replacement and all structural items.
Rent Start
PSF Monthly Annual
10/1/2016 $19.16 $273,751 $3,285,009
10/1/2017 $19.54 $279,226 $3,350,709
10/1/2018 $19.93 $284,810 $3,417,724
10/1/2019 $20.33 $290,507 $3,486,078
10/1/2020 $20.73 $296,317 $3,555,800
10/1/2021 $21.15 $302,243 $3,626,916
10/1/2022 $21.57 $308,288 $3,699,454
REMAINING BASE TERM