Standard Sublease (2005)Full Document 

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MULTI-TENANT

AIR COMMERCIAL REAL ESTATE ASSOCIATION

 

1. Basic Provisions (“Basic Provisions”).

 

1.1 Parties: This Sublease (“Sublease”), dated for reference purposes only January 6, 2005 is made by and between Keefe, Bruyette & Woods, Inc. (“Sublessor”) and Belvedere Trust Mortgage Corporation (“Sublessee”), (collectively the “Parties”, or individually a “Party”).

 

1.2(a) Premises: That certain portion of the Project (as defined below), known as 235 Pine Street, Suite 1800, totaling 2,305 sq. ft., adjacent to Suite 1818 consisting of approximately 2,305 square feet (“Premises”). The Premises are located at: 235 Pine Street, Suite 1800, in the City of San Francisco, County of San Francisco, State of California, with zip code             . In addition to Lessee’s rights to use and occupy the Premises as hereinafter specified, Lessee shall have nonexclusive rights to the Common Areas (as defined below) as hereinafter specified, but shall not have any rights to the roof, the exterior walls, or the utility raceways of the building containing the Premises (“Building”) or to any other buildings in the Project. The Premises, the Building, the Common Areas, the land upon which they are located, along with all other buildings and improvements thereon, are herein collectively referred to as the “Project.”

 

1.3 Term: three (3) years and five (5) months commencing March 1, 2005 (“Commencement Date”) and ending July 31, 2008 (“Expiration Date”).

 

1.4 Early Possession:                      (“Early Possession Date”).

 

1.5 Base Rent: $5,378.33 per month (“Base Rent)”, payable on the 1st day of each month commencing April 1, 2005 or 30 days after delivery or premises. ¨  If this box is checked, there are provisions in this Lease for the Base Rent to be adjusted.

 

1.6 Lessee’s Share of Operating Expenses:          percent (        %) (“Lessee’s Share”)

 

1.7 Base Rent and Other Monies Paid Upon Execution:

 

(a) Base Rent: $5,378.33 a month, fully serviced for the period April 1-30, 2005

 

(b) Security Deposit: $one month at $5,378.33 (“Security Deposit”).

 

(c) Other: $            for

 

(d) Total Due Upon Execution of this Lease: $10,756.66.

 

1.8 Agreed Use: Office use only and in accordance with all terms and conditions of the Sublessor’s Master Lease

 

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1.9 Real Estate Brokers:

 

(a) Representation: The following real estate brokers ( the “Brokers”) and brokerage relationships exist in this transaction (check applicable boxes):

 

þ Ritchie Commercial represents Sublessor exclusively (“Lessor’s Broker”);

 

þ Cushman & Wakefield represents Sublessee exclusively (“Lessee’s Broker”); or

 

¨                      represents both Sublessor and Sublessee (“Dual Agency”).

 

(b) Payment to Brokers: Sublessor shall pay to the Brokers the brokerage fee agreed to in a separate written agreement

 

1.10 Guarantor. The obligations of the Sublessee under this Sublease shall be guaranteed by                      (“Guarantor”).

 

1.11 Attachments. Attached hereto are the following, all of which constitute a part of this Sublease;

 

þ an Addendum consisting of Paragraphs 1 through 6;

 

þ a plot plan depicting the Premises and/or Project;

 

¨ a current set of the Rules and Regulations;

 

¨ a Work Letter;

 

þ a copy of the Master Lease;

 

þ other (specify): Exhibit—Letter of Intent December 28, 2004

 

2. Premises.

 

2.1 Letting. Sublessor hereby subleases to Sublessee, and Sublessee hereby subleases from Sublessor, the Premises, for the term, at the rental, and upon all of the terms, covenants and conditions set forth in this Sublease. Unless otherwise provided herein, any statement of size set forth in this Sublease, or that may have been used in calculating Rent, is an approximation which the Parties agree is reasonable and any payments based thereon are not subject to revision whether or not the actual size is more or less. Note: Sublessee is advised to verify the actual size prior to executing this Sublease.

 

2.2 Condition. Sublessor shall deliver the Premises to Sublessee broom clean and free of debris on the Commencement Date or the Early Possession Date, whichever first occurs (“Start Date”), and warrants that the existing electrical, plumbing, fire sprinkler, lighting, heating, ventilating and air conditioning systems (“HVAC”), and any items which the Lessor is obligated to construct pursuant to the Work Letter attached hereto, if any, other than those constructed by Lessee, shall be in good operating condition on said date. If a noncompliance with such warranty exists as of the Start Date, or if one of such systems or elements should malfunction or fail within the appropriate warranty period, Sublessor shall, as Sublessor’s sole obligation with respect to such matter, except as otherwise provided in this Sublease, promptly after receipt of written notice from Sublessee setting forth with specificity the nature and extent of such noncompliance, malfunction or failure, rectify same at Sublessor’s expense. The warranty periods shall be as follows: (i) 6 months as to the HVAC systems, and (ii) 30 days as to the remaining systems and other elements. Sublessee shall not make any improvements, alterations or fixed changes to the premises without Sublessor and Landlord’s prior written approval. Sublessee will accept the Premises in an existing “as-is” condition, subject to Sublessor’s repair of

 

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any damage beyond normal “wear and tear”. The Sublessor will make it’s best efforts to accommodate the Sublessee’s need for prior access for measuring, IT/Data/Cabling, etc. The Sublessor shall deliver the premises to Sublessee in broom clean condition.

 

2.3 Compliance. Sublessor warrants that any improvements, alterations or utility installations made or installed by or on behalf of Sublessor to or on the Premises comply with all applicable covenants or restrictions of record and applicable building codes, regulations and ordinances (“Applicable Requirements”) in effect on the date that they were made or installed. Sublessor makes no warranty as to the use to which Sublessee will put the Premises or to modifications which may be required by the Americans with Disabilities Act or any similar laws as a result of Sublessee’s use. NOTE: Sublessee is responsible for determining whether or not the zoning and other Applicable Requirements are appropriate for Sublessee’s Intended use, and acknowledges that past uses of the Premises may no longer be allowed. If the Premises do not comply with said warranty, Sublessor shall, except as otherwise provided, promptly after receipt of written notice from Sublessee setting forth with specificity the nature and extent of such noncompliance, rectify the same.

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