Loading...
HomeMy WebLinkAboutCORRESPONDENCE - PURCHASE ORDER - 9180963CSURF OFFICE LEASE COLORADO STATE UNIVERSITY RESEARCH FOUNDATION LANDLORD AND Poudre River Public Library District TENANT Dated: January 31, 2018 {O0324046 OFFICE LEASE This Lease, dated January 31, 2018, (“Effective Date”) is made by and between the Colorado State University Research Foundation (hereinafter called ‘Landlord) and Poudre River Public Library District, a ciuasi-municir,al corporation and oolitical subdivision of the State of Colorado (hereinafter called Tenant”). In consideration of the covenants, terms, conditions, agreements and payments as herein set forth, the Landlord and Tenant hereby enter into the following Lease: 1. DEFINITIONS. A. “Property” shall mean the area commonly known and referred to as Centre Tech II in Fort Collins, Colorado, described on Exhibit “B”, attached hereto. The Property includes the Premises, land area adjacent to the building(s), including sidewalks, parking lots, and landscaped areas as outlined on Exhibit “B.” B. “Building” shall mean the building commonly known as 2401 Research Boulevard, located on the Property. C. “Common Area” shall mean all entrances, exits, driveways, curbs, walkways, hallways, parking areas, landscaped areas, restrooms, loading and service areas, and like areas or facilities which are located in the Property and which are designated by the Landlord as areas or facilities available for the nonexclusive use in common with other tenants. D. “Lease Year’ shall mean a period of twelve (12) consecutive full calendar months from the Commencement Date of this Lease and each succeeding Lease Year commencing upon the anniversary date of the Commencement Date; however, if this Lease does not commence on the first day of a month, then, the first Lease Year and each succeeding Lease Year shall commence on the first day of the first month following each anniversary date of this Lease. E. “Operating Expenses” shall mean any and all expenses of any kind or nature, paid or incurred by the Landlord, necessary, appropriate, or customarily incurred in connection with the operation, service and maintenance of the Property, including costs incurred in fulfillment of Landlord’s services, operation and maintenance obligations under the terms of this Lease. Operating Expenses include, without limitation, property management fees; HVAC Services; all taxes, including the expenses of any proceeding to abate or reduce taxes; insurance premiums; all dues, assessments, and charges payable to the business park association; maintenance and repair costs and expenses for the Building and Common Area; trash removal; roofs and other areas used in common by the tenants or occupants of the Building, including management, administration, supervision, and labor costs and expenses in connection therewith; utility expenses; amounts as and for appropriate reserves for the replacement and/or substitution of all items allowed to be replaced and/or substituted for as provided in this Article; obligations, assessments and dues owed to any owner’s association of which the Property is a part; security services and all other costs and expenses except those properly charged as debt service or depreciation; and any amortized costs prior to the Lease which are amortized over any portion of the Lease Term. Said costs shall include such fees as may be paid to a third party in connection with the supervision and administration of the same. Operating Expenses shall also include the costs relating to the preventative maintenance checks and filter changes Landlord performs on the HVAC equipment servicing the Premises. Operating Expenses shall not include the cost of replacement of equipment or improvements when such costs are paid by any tenant directly to third parties or costs for which Landlord is otherwise reimbursed by any third party, other tenant(s), or by insurance {00324046} 1 proceeds. F. ‘Premises” shall mean a portion of the Building leased to the Tenant by the Landlord for Tenant’s exclusive use, as indicated on Exhibit “A’ attached hereto and by reference made a part hereof and described in paragraph 2 of this Lease. G. ‘Rentable Area” shall mean all floor area outlined on Exhibit “A” (including columns, ducts and similar intrusions, if any) measured from the outside surface of the Building and measured from the middle of interior perimeter walls, and may include a pro rata share of Common Area. H. “Tenant’s Pro Rata Share” as to the Building in which the Premises are located shall mean an amount (expressed as a percentage) equal to the Rentable Area divided by the total rentable area in said Building. The Tenant’s Pro Rata Share as to Building and Property shall be 25%. The Tenant’s Pro Rata Share for Building and Property may change from time to time as the rentable area in all Buildings located on the Property is increased or decreased. 2. PREMISES. The Landlord hereby leases unto the Tenant, and the Tenant hereby leases from the Landlord, the following described premises: Suite # 101 in Building located at 2401 Research Boulevard with a Rentable Area stipulated to be 4,627 square feet whether the same shall be more or less as a result of variations in measurements. 3. TERM. The term of this Lease shalt be three (3) Lease Years, beginning at 12:00 a.m. on the “Commencement Date” which shall be February 1, 2018 and ending at 1 1:59 p.m. on the “Termination Date” which shall be January 31, 2021 (“Lease Term”). 4. POSSESSION. Landlord shall deliver possession of the Premises to Tenant upon the Commencement Date, Tenant’s possession shall immediately be subject to all the provisions of this Lease. 5. ANNUAL BASE RENT. A. Tenant agrees to pay to Landlord, without prior notice, Annual Base Rent (“Annual Base Rent”) for the first Lease Year of $55,524.00 payable in twelve (12) equal installments of $4,627.00 in advance, on the first day of each calendar month, without setoff, deduction or demand, starting on the Commencement Date. B. Should any rental period begin on a day other than the first day of a month, or end on a day other than the last day of a month, then the rental for such fractional month shall be computed on a daily basis for the period at an amount equal to one-three hundred sixtieth (1/360) of said Annual Base Rent for each day during said month. C. The Annual Base Rent during the Lease Term shall be as follows: Feb. 1, 2018 thru Jan. 31, 2021 $4,627.00/month NNN ($12.00/RSF/year NNN). 6. SECURITY DEPOSIT. {00324046) 2 Tenant shall deposit with Landlord upon execution of the Lease the sum of $4627.00 as security and/or damage deposit (hereinafter “Deposit’). Said Deposit shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, Landlord shall furnish Tenant a statement covering the previous calendar year showing in reasonable detail what the actual total Operating Expenses were and the amount of Tenants Pro Rata Share of such expenses for such calendar year and the payments made by Tenant with respect to such expenses. If Tenant’s Pro Rata Share of such expenses exceeds Tenant’s payments so made, Tenant shall pay Landlord the deficiency within ten (10) days after receipt of such statement. If said payments exceed Tenant’s pro rata share of such expenses, the excess shall be credited toward the next installment(s) of Operating Expenses. Landlord shall have the right at any time to revise its estimate of Operating Expenses. All estimates shall be reasonable and made in good faith. C. If it is determined, in Landlord’s sole discretion, that Tenant’s specific use disproportionately affects the Operating Expenses of the Building and/or the Common Area, including, without limitation, water and sewer, electric charges, trash removal, and other related services, Landlord may, at any time during any Lease Year, re-estimate Tenant’s share of Operating Expenses. In such event, Tenant’s monthly installments shall be adjusted to more accurately reflect Tenant’s Pro Rata Share of Operating Expenses based on the degree of Tenant’s actual use. D. With respect to any items of Operating Expenses which are treated as a capital expenditure, Landlord shall include only the amortization of costs for such items in any one accounting period. Such computation shall be made using an estimated normal useful life reasonably determined by Landlord. 8. USE. Tenant shall use the Premises for Library Collections Process and shall not use or permit the Premises to be used for any other purpose without the prior written consent of Landlord. Tenant shall not do or permit anything to be done in or about the Premises nor bring or keep anything therein which will in any way increase the existing rate of or affect any fire or other insurance upon the Building or any of its contents, or cause cancellation ot any insurance policy covering said Building or any part thereof or any of its contents. Tenant shall not do or permit anything to be done in or about the Premises which will in any way obstruct or interfere with the rights of other tenants or occupants of the Building or injure or annoy them or use or allow the Premises to be used for any improper, unlawful or objectionable purposes, nor shall Tenant cause, maintain or permit any nuisance in, on, or about the Premises. Tenant shall not permit employees, customers, or visitors to smoke inside the Building, including the Premises. Tenant shall not commit or suffer to be committed any waste in or upon the Premises. 9. COMPLIANCE WITH LAW. Tenant shall not use the Premises or permit anything to be done in or about the Premises which will in any way conflict with any law, statute, ordinance or governmental rule or regulation now in force or which may hereafter be enacted or promulgated. Tenant shall, at its sole cost and expense, promptly comply with all laws, statutes, ordinances and governmental rules, regulations or requirements now in force or which may hereafter be in force, and with the requirements of any board of fire insurance underwriters or other similar bodies now or hereafter constituted, relating to or affecting the condition, use or occupancy of the Premises. The judgment of any court of competent jurisdiction or the admission of Tenant in any action against Tenant, whether Landlord be a party thereto or not, that Tenant has violated any law, statute, ordinance or governmental rule, regulation or requirement, shall be conclusive of that fact as between the Landlord and {00324046} 4 Tenant. 10. ALTERATIONS AND ADDITIONS. Tenant shalt not make or suffer to be made any alterations, additions or improvements to or of the Premises or any part thereof without the written consent of Landlord. Any alterations, additions, or improvements to or of said Premises, including, but not limited to, wall covering, paneling and built-in cabinet work (but excepting movable furniture and trade fixtures), shall on the termination of the Lease become a part of the realty condition. D. Landlord shall not be liable for any failure to do any of the foregoing maintenance, repairs or replacements unless such failure shall persist for an unreasonable time after written notice of the need of such correction is given to the Landlord by Tenant. Except as provided in Article 22 hereof, there shall be no abatement of rent and no liability of Landlord by reason of any injury to or interference with Tenant’s business arising from making any repairs, alterations or improvements in or about any portion of the Building or the Premises or to fixtures, appurtenances or equipment therein. Tenant waives the right to make repairs at Landlord’s expense under any law, statute or ordinance now or hereafter in effect. 12. LIENS. Tenant shall keep the Premises and the Property in which the Premises are situated free from any liens arising out of any work performed, materials furnished or obligations incurred by Tenant. If applicable, Landlord may require, at Landlord’s sole option, that Tenant shall provide to Landlord, at Tenant’s sole cost and expense, a lien and completion bond in an amount equal to one and one-half (1.6) times any and all estimated cost of any improvements, additions, or alterations in the Premises, to insure Landlord against any liability for mechanics’ and materialmen’s liens and to insure completion of the work. 13. ASSIGNMENT AND SUBLETTING. Tenant shall not voluntarily, involuntarily or by operation of law transfer, assign, sublet in whole or part, enter into license or concession agreements, change ownership or hypothecate this Lease or Tenant’s interest in and to the Premises or permit the Premises to be occupied by anyone other than Tenant without Landlord’s prior written consent which consent shall be in the sole determination and discretion of Landlord. In the event Tenant should desire to assign this Lease or sublet the Premises or any part thereof, Tenant shall give Landlord written notice of such desire at least sixty (60) days in advance of the date which Tenant desires to make such assignment or sublease. Landlord shall then have a period of thirty (30) days following the receipt of such notice within which to notify Tenant in writing that Landlord elects either (a) to terminate this Lease as to the space so affected as of the date so specified by Tenant in which event Tenant will be relieved of all further obligation hereunder as to such space, (b) to permit Tenant to assign or sublet such space; provided, however, that if the rental rate agreed upon between Tenant and its sublessee or assignee is greater than the rental rate that Tenant must pay Landlord, then such excess rental shall be deemed additional rent owed by Tenant to Landlord and shall be Annual Base Rent as described in Article 5, or (c) to deny Tenant the right to assign or sublet such space. If Landlord should fail to notify Tenant in writing of whether Landlord elects (a), (b) or (c) within said thirty (30) day period, Landlord shall be deemed to have elected option (c) above, Any attempt at assignment or sublease by Tenant in violation of the terms and covenants of this paragraph shall be void. Any consent by Landlord to a particular assignment or sublease shall not constitute the Landlord’s consent to any other or subsequent assignment or sublease. The acceptance of rent from any other person shall not be deemed to be a waiver of any of the provisions of this Lease or a consent to any such transfer. No such assignment or subletting if approved by Landlord shall relieve Tenant of any of its obligations hereunder, and, the performance or nonperformance of any of the covenants herein contained by subtenants shall be considered as the performance or the nonperformance by Tenant. 14. HOLD HARMLESS. Tenant shall indemnify and hold harmless Landlord, to the extent permitted by law, against (00324046) 6 and from any and all claims arising from Tenant’s use of the Premises for the conduct of its business or from any activity, work, or other thing done, permitted or suffered by the Tenant in or about the Building, and shall further indemnify and hold harmless Landlord, to the extent permitted by law, against and from any and all claims arising from any breach or default in the performance of any obligation on prior to occupancy of the Premises copies of policies of liability insurance required herein or certificates evidencing the existence and amounts of such insurance with additional insured clauses satisfactory to Landlord. No policy shall be cancelable or subject to reduction of coverage except after ten (10) days prior written notice to Landlord. All such policies shall be written as primary policies not contributing with and not in excess of coverage which Landlord may carry. 17. SERVICES AND UTILITIES. A. On the Commencement Date, Tenant shall pay direct to service provider for all gas, heat, light, power, telephone service and all other services and utilities supplied to the Tenant’s Premises together with any taxes thereon. For such services as are not separately metered to Tenant, Tenant shall pay Landlord within ten (10) days from the date of the billing statement therefor, including a reasonable portion as determined by Landlord of all charges jointly metered with other premises so long as the method of proration can reasonably be related to the Tenant’s use of such utilities, and at a cost not exceeding that which the utility company would have charged Tenant for furnishing such services directly. If Tenant requires janitorial services, or additional heating or cooling, Tenant shall pay a reasonable charge as determined by Landlord including any special controls, equipment, labor costs and administrative expense related thereto. Tenant shall provide its own janitorial services. Any disproportionate use of services by Tenant that result in increased costs to the Building, such as recycling, will be reconciled by way of weighted allocation, as determined by Landlord. B. Landlord shall not be liable for, and Tenant shall not be entitled to, any reduction of rental by reason of Landlord’s failure to furnish any of the foregoing when such failure is caused by accident, breakage, repairs, strikes, lockouts or other labor disturbances or labor disputes of any character, or by any other cause, similar or dissimilar, beyond the reasonable control of Landlord. Landlord shall not be liable under any circumstances for a loss of or injury to property, however occurring, through or in connection with or incidental to failure to furnish any of the foregoing. C. Wherever heat.generating machines or equipment are used in the Premises which affect the temperature otherwise maintained by the air conditioning system, Landlord reserves the right to install supplementary air conditioning units in the Premises and the cost thereof, including the cost of installation, and the cost of operation and maintenance thereof shall be paid by Tenant to Landlord upon demand by Landlord. D. Tenant will not, without written consent of Landlord, use any apparatus or machines in the Premises using in excess of 120 volts, which will in any way increase the amount of electricity usually furnished or supplied for the use of the Premises as general office space; nor connect with electric current except through existing electrical outlets in the Premises, any apparatus or machine, for the purpose of using electric current. If Tenant shall require water, gas, or electric current in excess of that usually furnished or supplied for the use of the Premises as general office space, Tenant shall first procure the written consent of Landlord, which Landlord may refuse to the use thereof and Landlord may cause a water meter or electrical current meter to be installed in the Premises, so as to measure the amount of water and electric current consumed for any such use. The cost of any such meters and of installation, maintenance and repair thereof shall be paid for by the Tenant. Tenant agrees to pay to Landlord promptly upon notice from Landlord for all such water and electric current consumed as shown by said meters, at the rate charged for such services by the local public utility furnishing the same, plus any additional expense incurred in keeping account of the water and electric current so consumed. If a separate meter is not installed, such excess cost for such water and electric current will be established by an estimate made by a utility company or electrical engineer. {00324046} 8 18. PERSONAL PROPERTY TAXES. Tenant shall pay, or cause to be paid, before delinquency, any and all taxes levied or assessed and which become payable during the Lease Term hereof upon all Tenant’s leasehold improvements, equipment, furniture, fixtures and personal property Located in the Premises; except that which has been paid for by Landlord, and is the standard of the Building. In the event any or all of the Tenant’s leasehold improvements, equipment, furniture, fixtures and personal property shall be assessed and taxed with the Building, Tenant shall pay to Landlord its share of such taxes within ten (10) days after delivery to Tenant by Landlord of a statement in writing setting forth the amount of such taxes applicable to Tenant’s property. 19. RULES AND REGULATIONS. Tenant shall faithfully observe and comply with the rules and regulations that Landlord shall from time to time promulgate. Landlord reserves the right from time to time to make all reasonable modifications to said rules. The additions and modifications to those rules shall be binding upon Tenant upon delivery of a copy of them to Tenant. Landlord shall not be responsible to Tenant for the nonperformance of any said rules by any other tenants or occupants. See attached Exhibit C,’ Rules and Regulations. 20. HOLDING OVER. If Tenant or any party claiming under Tenant remains in possession of the Premises, or any part thereof, after any termination of this Lease, with the written consent of Landlord, no tenancy or interest in the Premises shall result therefrom but such holding over shall be a tenancy from month-to-month, cancelable upon thirty (30) days written notice from one to the other, subject to all the terms and provisions of this Lease, except as to the term and as to the Annual Base Rent, which shall be double (2 times) the Annual Base Rent as was in effect during the last month of the Lease Term, plus all other charges payable hereunder. If Tenant or any party claiming under Tenant remains in possession of the Premises without Landlords written consent, such tenancy shall be an unlawful detainer and all such parties shall be subject to eviction upon three (3) days written notice, and Tenant shall pay upon demand to Landlord during this period which Tenant holds the Premises, a sum equal to double (2 times) the Annual Base Rental, plus all other charges due under the Lease. In addition, Tenant shall pay, upon demand, all attorneys’ fees and all other costs incurred by Landlord in the preparation and service of any notice or demand hereunder, whether or not a legal action is subsequently commenced, together with interest at the maximum legal rate from the date(s) of Landlord’s payments until reimbursed by Tenant. 21. ENTRY BY LANDLORD. Upon reasonable notice (except in emergencies when no prior notice is required), Landlord reserves and shall at any and all times have the right to enter the Premises, inspect the same, supply services to be provided by Landlord to Tenant hereunder, to submit said Premises to prospective purchasers or tenants, to post notices of non-responsibility, and to alter, improve or repair the Premises and any portion of the Building of which the Premises are a part that Landlord may deem necessary or desirable, without abatement of rent and may for that purpose erect scaffolding and other necessary structures where reasonably required by the character of the work to be performed, always providing that the entrance to the Premises shall not be blocked thereby, and further providing that the business of the Tenant shall not be interfered with unreasonably. Tenant hereby waives any claim for damages or for any injury or inconvenience to or interference (00324046) 9 with Tenant’s business, any Loss of occupancy or quiet enjoyment of the Premises, and any other loss occasioned thereby. For each of the aforesaid purposes, Landlord shall at all times have and retain a key with which to unlock all of the doors in, upon and about the Premises, excluding Tenant’s vaults, safes and files, and Landlord shall at all times have and retain a key with which to unlock all of the doors in, upon and about the Premises, in an emergency, in order to obtain entry to the Premises without being liable to Tenant in any way whatsoever except for any failure to exercise due care for Tenant’s property. Any entry to the Premises obtained by Landlord by any of said means, or otherwise, shall not under any circumstances be construed or deemed to be a forcible or unlawful entry into, or a detainer of, the Premises, or an eviction of Tenant from the Premises or any portion thereof. 22. RECONSTRUCTION. A. In the event the Premises or the Building of which the Premises are a part are damaged by fire or other perils covered by extended coverage insurance, Landlord agrees to forthwith repair the same; and this Lease shall remain in full force and effect, except that Tenant shall be entitled to a proportionate reduction of the rent while such repairs are being made, such proportionate reduction to be based upon the extent to which the making of such repairs shall materially interfere with the business carried on by the Tenant in the Premises. If the damage is due to the fault or neglect of Tenant or its employees, there shall be no abatement of rent. B. In the event the Premises or the Building of which the Premises are a part are damaged as a result of any cause other than the perils covered by fire and extended coverage insurance, then Landlord shalt forthwith repair the same, provided the extent of the destruction be less than ten percent (10%) of the then full replacement cost of the Premises or the Building of which the Premises are a part. In the event the destruction of the Premises or the Building is greater than ten percent (10%) of the full replacement cost, then Landlord shall have the option: (1) to repair or restore such damage, this Lease continuing in full force and effect, but the rent to be proportionately reduced as stated above; or (2) give notice to Tenant at any time within sixty (60) days after such damage terminating this Lease as of the date specified in such notice, which date shall be no less than thirty (30) and no more than sixty (60) days after the giving of such notice. In the event Landlord gives such notice, this Lease shall expire and aLl interest of the Tenant in the Premises shall terminate on the date so specified. C. Notwithstanding anything to the contrary contained in this Article, Landlord shall not have any obligation whatsoever to repair, reconstruct or restore the Premises when the damage resulting from any casualty covered under this Article occurs during the last twelve (12) months of the Lease Term or any extension thereof. D. Landlord shall not be required to repair any injury or damage by fire or other cause, or to make any repairs or replacements of any panels, decoration, office fixtures, railings, floor covering, partitions, or any other property installed ri the Premises by Tenant. E. Tenant shall not be entitled to any compensation or damages from Landlord for loss of the use of the whole or any part of the Premises, Tenant’s personal property or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration. 23. DEFAULT. {00324046) 10 The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Tenant: a) The vacating or abandonment of the Premises by Tenant. As used in this Lease with respect to the Premises, the terms vacate’ and ‘abandon” shall be deemed to include, without limiting the broadest meaning of those terms, the failure of Tenant to be open to the public for business in the Premises for a period often (10) consecutive business days unless such failure is excused or permitted under the express terms of this Lease. b) The failure by Tenant to make any payment of rent or any other payment required to be made by Tenant hereunder, as and when due. c) The failure by Tenant to observe or perform any of the covenants, conditions or provisions of this Lease to be observed or performed by the Tenant, other than described in Article 23(a) or (b) above, where such failure shall continue for a period of thirty (30) days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of Tenant’s default is such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion. 24. REMEDIES IN DEFAULT. In the event of any such material default or breach by Tenant, Landlord may at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of a right or remedy which Landlord may have by reason of such default or breach, elect to: a) Terminate Tenant’s right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. in such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default including, but not limited to (1) the cost of recovering possession of the Premises; (2) alteration of or damage to the Premises; (3) reasonable attorney’s fees; (4) the value at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent and other charges and adjustments called for herein for the balance of the Lease Term after the time of such award exceeds the amount of such loss for the same period that Tenant proves could be reasonably avoided; and (5) that portion of any leasing commission paid by Landlord and applicable to the unexpired term of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the maximum legal rate; or h) Maintain Tenant’s right to possession, in which case this Lease shall continue in effect whether or not Tenant shall have abandoned the Premises. in such event Landlord shall be entitled to enforce all of Landlord’s rights and remedies under this Lease, including the right to demand the entire amount of rent herein reserved or agreed to be paid for the entire Lease Term as if the whole rent for the entire term were payable in advance. Landlord acknowledges that Landlord has a duty to mitigate its damages under the Lease by making reasonable efforts to re-let the Premises, however, Landlord shall not be required to incur any costs or expenses in connection with the re-letting, including, without limitation, costs for alterations, redecorating or reconfiguring the space. c) In the event of default, all of Tenant’s fixtures, furniture, equipnient, improvements, (00324046) 11 additions, alterations and other personal property shall remain on the Premises and in that event, and continuing during the length of said default, Landlord shall have the right to take the exclusive possession of same and to use same, rent or charge free, until all defaults are cured or, at its option, at any time during the Lease Term, to require Tenant to forthwith remove same. d) In the event of a breach or default by Tenant under the terms of this Lease, Landlord shall be entitled to recover all costs and expenses of enforcement of this Lease, including reasonable attorneys fees and costs, whether or not litigation is actually commenced. e) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State in which the Premises are located. 25. BANKRUPTCY. Tenant agrees that in the event all or substantially all of Tenant’s assets be placed in the hands of a receiver or trustee, and such receivership or trusteeship continues for a period of thirty (30) days, or should Tenant make an assignment for the benefit of creditors or be finally adjudicated a bankrupt, or should Tenant institute any proceedings under the Bankruptcy Act as the same now exists or under any amendment thereof which may hereafter be enacted, or under any other act relating to the subject of bankruptcy, wherein Tenant seeks to be adjudicated a bankrupt or to be discharged of its debts or to effect a plan of liquidation, composition or reorganization, or should any involuntary proceeding be filed against Tenant under any such bankruptcy laws and such proceeding not be removed within ninety (90) days thereafter, then this Lease or any interest in and to the Premises shall not become an asset in any of such proceedings and, in any such events and in addition to any and all rights or remedies of Landlord hereunder or by law provided, it shall be lawful for Landlord to declare the Lease Term hereof ended and to re enter the Premises and take possession thereof and remove all persons therefrom, and Tenant shall have no further claim thereon or hereunder. The provisions or this Article 25 shall also apply to any Guarantor of this Lease. 26. EMINENT DOMAIN. If more than twenty-five percent (25%) of the Premises shall be taken or appropriated by any public or quasi-public authority under the power of eminent domain, either party hereto shall have the right, at its option, to terminate this Lease, and Landlord shall be entitled to any and all income, rent, award, or any interest therein whatsoever which may be paid or made in connection with such public or quasi-public use or purpose, and Tenant shall have no claim against Landlord for the value of any unexpired term of this Lease. If either less than or more than twenty-five percent (25%) of the Premises is taken, and neither party elects to terminate as herein provided, the rental thereafter to be paid shall be equitably reduced. If any part of the Building other than the Premises may be so taken or appropriated, Landlord shall have the right, at its option, to terminate this Lease and shall be entitled to the entire award as above provided. 27. OFFSET STATEMENT. Tenant shall at any time and from time to time upon not less than ten (10) days prior written notice from Landlord execute, acknowledge and deliver to Landlord a statement in writing (a) certifying that this Lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that this Lease as so modified, is in full force and effect), and the date to which the rental and other charges are paid in advance, if any, and (b) acknowledging that there are not, to Tenant’s knowledge, any uricured defaults on the part of the (00324046) 12 Landlord hereunder, or specifying such defaults if any are claimed. Any such statement may be relied upon by any prospective purchaser or encumbrancer of all or any portion of the real property of which the Premises are a part. 28. PARKING. Tenant shall have the right to use in common with other tenants or occupants of the Building the parking facilities of the Building, if any, subject to any governmental parking charges and to rules and regulations of Landlord for such parking facilities which may be established or altered by Landlord at any time or from time to time during the Lease Term, including extensions or renewals hereof. With sixty (60) days prior written notice to Tenant, Landlord reserves the right to engage parking management services and/or implement a parking program as it may deem necessary in order to manage the lot in an appropriate manner, which may necessitate Tenant’s personnel paying for parking permits. Landlord reserves the right to allow special event parking outside of regular business hours (regular business hours are Mon — Fri, 8am-5pm) and on weekends throughout any given calendar year during the term of the lease and any extensions thereof. During any such events, Tenant, its employees and invitees shall remove all vehicles not specifically permitted for parking during such times. Landlord will consider requests for parking privileges during these times on a case-by-case basis. 29. AUTHORITY OF PARTIES. A, CORPORATE AUTHORITY. If Tenant is a corporation, an LLC, an LLP, a limited partnership, a general partnership, or an LLLP, each individual executing this Lease on behalf of said entity represents and warrants that he is duly authorized to execute and deliver this Lease on behalf of said entity, in accordance with a duly adopted resolution of the board of directors of said entity or in accordance with the governing documents of said entity, and that this Lease is binding upon said entity in accordance with its terms. B. NON-RECOURSE LIABILITY. Tenant shall look solely to Landlord’s interest in the Premises for satisfaction of any judgment or decree requiring the payment of money by Landlord based upon any default or claim made by Tenant under, or in any way relating to this Lease, and no other property or assets of Landlord or the members of Landlord shall be subject to levy, execution, or other enforcement procedures or satisfaction of any such judgment or decree. Tenant expressly waives any and all rights to proceed against the individual partners, members, managers, officers, directors or shareholders of Landlord, except to the extent of their ownership interest in Landlord. 30. NOTICES. A. Any notice or other communication given by any of the parties hereto to another relating to this Lease shall be in writing and shall be deemed to have been duly given (i) on the date and at the time of delivery if delivered personally to the party to whom notice is given at the address specified in below; or (ii) on the date of delivery or attempted delivery shown on the return receipt if mailed to the party to whom notice is to be given by first class mail, sent by registered or certified mail, return receipt requested, postage prepaid and properly addressed as specified herein; or (iii) within 24 hours after deposit with a nationally recognized overnight courier or messenger service, properly addressed as specified below. Either party may change such address by fifteen (15) days written notice to the other; provided, however, except as provided in this Lease, if at any time one or more than one person or party holds an interest in the Premises or is liable for the obligations of the Tenant under the terms of this Lease, nevertheless, the parties may not designate more than (00324046} 13 one place and address to receive notices as provided in this Lease. MAI LING/NOTICE ADDRESS OF LANDLORD: CSURF Real Estate Office P.O. Box 483 Fort Collins, Colorado 80522 [Phone: 970/491-26251 MAILING/NOTICE ADDRESS OF TENANT: Poudre River Public Library District 301 E. Olive St Fort Collins, Colorado 80524 [Phone: 970/224-6164] B. Notwithstanding anything to the contrary contained within this Article 30, any notices Landlord is required or authorized to deliver to Tenant in order to advise Tenant of alleged violations of Tenant’s covenants contained in this Lease with respect to improper advertising medium and/or signs, failure of Tenant to properly repair and/or maintain the Premises, improper parking of Tenant or Tenant’s employees vehicles, or noriperformance of any other rules and regulations hereto, must be in writing but shall be deemed to have been duly given or served upon Tenant by delivering a copy of such notice to the Premises and by mailing a copy of such notice to Tenant in the manner specified above. 31. SALE OF PREMISES BY LANDLORD. In the event of any sale of the Building, Landlord shall be and is hereby entirely freed and relieved of all liability under any and all of its covenants and obligations contained in or derived from this Lease arising out of any act, occurrence or omission occurring after the consummation of such sale; and the purchaser, at such sale or any subsequent sale of the Premises shall be deemed, without any further agreement between the parties or their successors in interest or between the parties and any such purchaser, to have assumed and agreed to carry out any and all of the covenants and obligations of the Landlord under this Lease. 32. MORTGAGE. ATTORNMENT A. Subordination. Within ten (10) days alter written request by Landlord or of any lessor under a sate and leaseback of the land and/or buildings in which the Premises are situated or of any mortgagee or beneficiary of Landlord, Tenant will from time to time execute a subordination and non-disturbance agreement, subordinating Tenants rights hereunder to the interest of any such lessor, as well as to the lien of any mortgage or deed of trust now or hereafter in force against the land and building of which the Premises are a part, and to all advances made or hereafter to be made upon the security thereof, provided that such subordination shall be conditioned that such lessor, mortgagee or beneficiary shall recognize the rights of Tenant hereunder so long as Tenant observes and performs its obligations hereunder. B. Mortgagee’s Right To Cure. Tenant agrees to give any mortgagee and/or trust deed holder, by registered mail, a copy of any notice with respect to any actual or alleged default of Landlord and served upon Landlord, provided that prior to such notice Tenant has been notified, in writing (by way of notice of assignment of rents and leases, or otherwise), of the address of such (00324046) 14 Mortgagee and/or Trust Deed Holder. Tenant further agrees that if Landlord shall have failed to cure such default within any time provided for in this Lease (or within twenty (20) days if no such time is provided for) and if Landlord shall not have commenced the cure promptly after notice from Tenant and continued thereafter with due diligence to completion, then the mortgagee and/or trust deed holder shall have an additional thirty (30) days within which to cure such default or if such default cannot be cured within such time, then such additional time as may be necessary provided that within such thirty (30) days, any mortgagee and/or trust deed holder has commenced and is diligently pursuing the remedies necessary to cure such default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure), in which event this Lease shall not be terminated while such remedies are being so diligently pursued. Nothing contained in this Paragraph shall give Tenant any right to terminate this Lease which Tenant did not have without the existence of this Paragraph. C. Attornment. In the event any proceedings are brought for foreclosure, or in the event of the exercise of the power of sale under any mortgage or deed of trust made by Landlord covering the Premises, Tenant shall attorn to the purchaser upon any such foreclosure or sale and recognize such purchaser as Landlord under this Lease. D. ppl Certificate. Within ten (10) days after written request therefor by Landlord, or in the event that upon any sale, assignment or hypothecation of the Premises or the land thereunder by the Landlord an offset statement shall be required from Tenant, Tenant agrees to deliver in recordable form an estoppel certificate provided by and addressed to any proposed mortgagee, beneficiary or purchaser, or to the Landlord certifying, without limitation, that this Lease is in full force and effect (if such be the case) and that there are no defenses or offsets thereto or stating those claimed by Tenant, if any. 33. GENERAL PROVISIONS. A. Relationship of Parties. Nothing contained in this Lease shall be deemed or construed as creating a partnership or joint venture between Landlord and Tenant or between Landlord and any other party or causing Landlord to be responsible in any way for the debts or obligations of Tenant or of any other party. B. Severability. If any provisions of this Lease shall be determined to be void by any court of competent jurisdiction, then such determination shall not affect any other provision of this Lease, and all such other provisions shall remain in full force and effect. It is the intention of the parties hereto that if any provision of this Lease is capable of two constructions, one of which would render the provision valid, then the provision shall have the meaning which renders it valid. C. Entire AQreement. It is understood that there are no oral agreements between the parties hereto affecting this Lease, and this Lease supersedes and cancels any and all previous negotiations, arrangements, brochures, agreements and understandings, if any, between the parties hereto or displayed by Landlord to Tenant with respect to the subject matter thereof, and none thereof shall be used to interpret or construe this Lease. This Lease is and shall be considered to be the only agreement between the parties hereto and their representatives and agents. All negotiations and oral agreements acceptable to both parties have been merged into and are included herein. No provision of this Lease may be amended or added to except by an agreement in writing signed by the parties hereto or their respective successors in interest. D. Riciht to Lease. Except as may be otherwise specified in the Lease, Landlord reserves the absolute right to effect any other tenancies in the Property at Landlord’s sole discretion. {00324046} 15 E. Plats and Riders. Clauses, plats and riders, if any, signed by the Landlord and the Tenant and endorsed on or affixed to this Lease are a part hereof. F. Waiver. The waiver by Landlord of any term, covenant or condition herein contained shall not be deemed to be a waiver of such term, covenant or condition on any subsequent breach of the same or any other term, covenant or condition herein contained. The subsequent acceptance of rent hereunder by Landlord shall not be deemed to be a waiver of any preceding breach by Tenant of any term, covenant or condition of this Lease, other than the failure of the Tenant to pay the particular rental so accepted, regardless of Landlord’s knowledge of such preceding breach at the time of the acceptance of such rent. G. Joint Obligation. If there be more than one Tenant, the obligations hereunder imposed upon tenants shall be joint and several. H. Headings. The marginal headings and Article titles to the Articles of this Lease are not a part of this Lease and shall have no effect upon the construction or interpretation of any part hereof. I. Time. Time is of the essence of this Lease and each and alt of its provisions in which performance is a factor. J. Successors and Assigns. The covenants and conditions herein contained, subject to the provisions as to assignment, apply to and bind the heirs, successors, executors, administrators and assigns of the parties hereto. K. Recordation. Neither Landlord nor Tenant shall record this Lease. L. Quiet Possession. Upon Tenant paying the rent reserved hereunder and observing and performing all of the covenants, conditions and provisions of Tenant’s part to be observed and performed hereunder, Tenant shall have quiet possession of the Premises for the entire term hereof, subject to all the provisions of this Lease. M. Late Charges. If any installment of rent or any other amount due from Tenant under this Lease is not received by Landlord or Landlord’s designee within five (5) days from the date such amount is due, then Tenant shall pay to Landlord a late charge equal to ten percent (10%) of such overdue amount. Acceptance of such late charges by the Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder, In addition, Tenant shall pay to Landlord a charge equal to Seventy-five Dollars ($75.00) for any checks returned for insufficient funds. In the event of more than one (1) such failure in any Calendar Year hereunder, Landlord may require Tenant to pay only in the form of cashier’s check. N. Inability To Perform. This Lease and the obligations of the Tenant hereunder shall not be affected or impaired because the Landlord is unable to fulfill any of its obligations hereunder or is delayed in doing so, if such inability or delay is caused by reason of strike, labor troubles, acts of God, or any other cause beyond the reasonable control of the Landlord. 0. Name. Tenant shall not use the name of the Building, or of the Property in which the Building is situated for any purpose other than as an address of the business to be conducted by the Tenant in the Premises. Landlord has the right at any time at Landlord’s discretion, to change the (00324046) 16 name of the Building or Property without any liability whatsoever to Tenant. 0. Cumulative Remedies. No remedy or election hereunder shall be deemed exclusive but shall, wherever possible, be cumulative with all other remedies at law or in equity. P. Governing Law and Venue. The laws of the State of Colorado shall govern the validity, performance and enforcement of this Lease. Should either party institute legal suit or action or enforcement of any obligation contained herein, it is agreed that the venue of such suit or action shall be in the County in which the Premises are located. Although the printed provisions of this Lease were drawn by Landlord, this Lease shall not be construed either for or against Landlord or Tenant, but this Lease shall be interpreted in accordance with the general tenor of the language in an effort to reach an equitable result. Q. Signs, Sales and Auctions. Tenant shall not place any sign upon the Premises, Building, or Property; or conduct any auction, distress, fire sale, bankruptcy, liquidation sale and/or going-out-of-business sale thereon without the Landlord’s prior written consent. R. Brokers. Tenant warrants that it has had no dealings with any real estate broker or agents in connection with the negotiation of this Lease excepting only Aki & Jim Palmer of Cushman & Wakefield, and it knows of no other real estate broker or agent who is entitled to a commission in connection with this Lease. S. No Offer. The submission of this document to Tenant for examination does not constitute an offer to lease, nor a reservation of, nor option to lease, and becomes effective only upon full execution and delivery thereof by Landlord and Tenant. T. Counterparts. The parties may transmit this Agreement by facsimile or computer scanned transmission, and facsimile or computer scanned signatures shall be adequate, binding, and valid as if such were an original signature on an original document. Each such facsimile or computer scanned document or the original document may be executed in several counterparts and all of such counterparts taken together shall be deemed to be one document. U. Lease Exhibits Attached. This Lease includes the following Lease Exhibits which are incorporated herein and made a part of this Lease Agreement: Exhibit “A” — PREMISES Exhibit “B” — PROPERTY LEGAL DESCRIPTION Exhibit “C” - RULES AND REGULATIONS Exhibit “D” - CONSTRUCTION OBLIGATIONS Exhibit “E’ - OPTION TO EXTEND Exhibit “F” - AMORTIZATION SCHEDULE 34. HAZARDOUS MATERIALS. Tenant further covenants and agrees not to use, generate, manage, treat, manufacture, store or dispose of on under or about the Premises or transport to or from the Premises any Hazardous Materials. For the purpose of this Lease, “Hazardous Materials’ shall include but not be limited to flammable explosives, radioactive materials, hazardous wastes, toxic substances or (00324046) 17 related materials, and any and all substances defined as “hazardous substances’, ‘hazardous materials”, “hazardous wastes” or ‘oxic substances” in the Comprehensive Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C. Section 9601, et seq.; the Hazardous Materials Transportation Act, 49. U.S.C. Section 1901, et seq.; the laws of the State of Colorado or any rules or regulations adopted or guidelines promulgated pursuant to these two said laws, as all such laws, rules or regulations may be amended or replaced from time to time. Tenant further covenants and agrees to pay all costs and expenses associated with all audits, tests, investigations, clean up, reports and other such items incurred in connection with any efforts to complete, satisfy or resolve any matters, issues or concerns arising out of or in any way related to any breach by Tenant under this Article. 35. SPECIAL PROVISIONS. A. Phone & Internet Connectivity Services. Tenant shall be solely responsible for phone and/or Internet connectivity services for the Premises. B. Tenant will be allowed to place Tenant’s own logo signage on or adjacent to Tenant’s entry door at Tenant’s expense subject to Landlord’s sign criteria, and approval of design and placement. C. The parties agree this Lease is subject to and contingent upon sufficient funds being appropriated, budgeted or otherwise made available to Tenant for purposes of meeting all or any portion of Tenant’s obligations hereunder. In the event sufficient funds are not appropriated, budgeted or made available for Tenant to meet its obligations under this Lease, Tenant may unilaterally terminate the Lease by giving written notice to Landlord. In such event, Tenant agrees to reimburse Landlord for any unamortized tenant finish costs and leasing commissions per the amortization schedule shown in Exhibit “F,” hereto attached. D. Landlord shall allow Tenant use of its repositionable shelving at no additional cost. Tenant shall contract to have shelving relocated from another area within the Building into the Leased Premises. Landlord makes no Warranties as to the current or future functionality of the shelving system. IN WITNESS WHEREOF, the parties have executed this Lease as of the date hereof. LANDLORD: TENANT: COLORADO STATE UNIVERS1TY POUDRE RIVER RESEARCH FOUNDATION PUBLIC LIBRARY DISTRICT By: ___ iiany David Slivken, Managing Director Executive Director (00324046) 18 I r.J _ 7 PRPLD :. ‘ z{ o - FDOpen iJ’ r jzyj1 I-U) cD ZW tZ ‘t:- ___F- I, I -. 2401 fl* ro.lco, co 11071 Co >Lf —o co 0 (U rt FVtFIllPI.l All t. K. - - I 4 ‘7 a 0* ID 0 m C c Legal Description: EXHIBIT ‘4B PROPERTY LEGAL DESCRIPTION CENTRE FOR ADVANCED TECHNOLOGY Third Filing City of Fort Collins County of Larimer State of Colorado JEE AL TA/ACSML4NDTflZHSURVE]’ [).Sh1 JnI C I tJt WnI OITh (.thI ‘.1, rfl(r, - - = — — .- — - — -— - I: :.;:;: -— .:_‘a Z.7L — — - t4LL — - tzs,tL-,az mx.; at: I I i4 {00324046} 20 EXHIBIT “C” RULES AND REGULATIONS No sign, placard, picture, advertisement, name or notice shall be inscribed, displayed or printed or affixed on or to any part of the outside or inside of the Building without the prior written consent of Landlord. Landlord shall have the right to remove any such unapproved sign, placard, picture, advertisement, name or notice without notice to Tenant, and at the expense of Tenant. Tenant shall not place anything or allow anything to be placed near the glass of any window, door, partition or wall which may appear unsightly from outside the Premises; provided however, that Landlord may furnish and install Building standard window covering at all exterior windows. Tenant shall not without prior written consent of Landlord cause or otherwise sunscreen any window. 2. The sidewalks, halls, passages, exits, entrances, elevators and stairways shall not be obstructed by the Tenant or Tenant’s agents or used by them for any purpose other than for ingress and egress from their respective Premises. 3. Tenant shall not alter any lock or install any new or additional locks or any bolts on any doors or windows of the Premises, without first obtaining Landlord’s prior written approval. 4. The restrooms, urinals, wash bowls and other apparatus shall not be used for any purpose other than that for which they were constructed and no foreign substance of any kind whatsoever shall be thrown therein and the expense of any breakage, stoppage or damage resulting from the violation of this rule shall be borne by the Tenant who, or whose employees or invitees shall have caused it. 5. Tenant shall not overload the floor of the Premises or in any way deface the Premises or any part thereof. 6. No unconventional furniture, freight or equipment of any kind shall be brought into the Building without the prior notice to Landlord and all moving of the same Into or out of the Building shall be done at such time and in such manner as Landlord shall have the right to designate. Landlord shall have the right to prescribe the weight, size and position of all safes and other heavy equipment brought into the Building and also the times and manner of moving the same in and out of the Building. Sates or other heavy objects shall, if considered necessary by Landlord, stand on supports of such thickness as is necessary to properly distribute the weight. Landlord will not be responsible for loss of or damage to any such safe or property from any cause and all damage done to the Building by moving or maintaining any such safe or other property shall be repaired at the expense of Tenant. 7. Tenant shall not use, keep or permit to be used or kept any foul or noxious gas or substance in the Premises, or permit or suffer the Premises to be occupied or used in a manner offensive or objectionable to the Landlord or other occupants of the Building by reason of noise, odors and/or vibrations, or interfere in any way with other Tenants or those having business therein, nor shall any animals, birds or bicycles be brought in or kept in or about the Premises or the Building, unless so designated and approved by Landlord in advance. 8. No commercial cooking shall be done or permitted by any Tenant on the Premises, nor shall the Premises be used for the warehousing of merchandise, for washing clothes, for lodging, or for any improper, objectionable or immoral purposes. 9. Tenant shall not use or keep in the Premises or the Building any kerosene, gasoline or flammable or combustible fluid or material, or use any method of heating or air conditioning other than that supplied by Landlord. 10. Landlord will direct electricians as to where and how telephone and data wires are to be {00324046} 21 introduced. No boring or culling for wires will be allowed without the consent of the Landlord. The location of telephones, call boxes or other office equipment affixed to the Premises shall be subject to the prior approval of Landlord. II. On Saturdays, Sundays and legal holidays, and on other days between the hours of 6:00 p.m. and 8:00 am. the following day, access to the Building, or to the halls, corridors, elevators or stairways in the Building, or to the Premises may be refused unless the person seeking access is known to ti-ia person or employee of the Building in charge and has a pass or is properly identified. The Landlord shall in no case be liable for damages for any error with regard to the admission to or exclusion from the Building of any person, in case of invasion, mob, riot, public excitement, or other commotion, the Landlord reserves the right to prevent access to the Building during the continuance of the same by closing of the doors or otherwise, for the safety of the Tenants and protection of property in the Building and the Building. 12. Landlord reserves the right to exclude or expel from the Building any person who, in the judgment of Landlord, is intoxicated or under the influence of liquor or drugs, or who shall in any manner do any act in violation of any of these rules and regulations. Smoking (including lighted cigarettes, cigars, marijuana, and all electronic smoking devices such as e-cigarettes, vapor pens, etc.) is prohibited inside Building(s) and within 25’ of entrances, operable windows, sidewalks, and ventilation systems. 13. No vending machine or machines of any description shall be installed, maintained or operated upon the Premises without the prior written consent of the Landlord. 14. Landlord shall have the right, exercisable without notice and without liability to Tenant, to change the name and street address of the Building or Properly of which the Premises are a part. 15. Tenant shall not disturb, solicit, or canvass any occupant of the Building and shall cooperate to prevent same. 16. Landlord shall have the right to control and operate the public portions of the Building, and the public facilities, and heating and air conditioning, as well as facilities furnished for the common use of the Tenants, in such manner as it deems best for the benefit of all Building tenants generally. 17. All entrance doors to the Premises shall be left locked when the Premises are not in use, and all doors opening to the public corridors shall be kept closed except for normal ingress and egress to and from the Premises. 18. Tenant shall not alter approved lighting within premises without Landlord’s written approval. 19. Landlord shall have the right to prohibit any advertising by the Tenant which, in Landlord’s opinion, tends to impair the reputation of the Building or its desirability as an office building and upon written notice from Landlord, Tenant shall refrain from or discontinue such advertising. 20. The requirements of Tenant will be considered and attended to only upon application to the Landlord. Tenant shall give prompt notice to the Landlord’s property manager of any accident to or defect in plumbing, electrical, heating and/or air conditioning equipment so that the same may be attended to properly. 21. Tenant assumes full responsibility for its space from theft, robbery, and pilferage, which includes keeping doors and other means of entry to the Premises closed, locked and secured. 22. Tenant shall provide chair pads for all desk chairs of the swivel base type that are used (003240461 22 on carpeted areas. 23. The expense of curing any violation of these rules and regulations caused by a Tenant or Tenants servants, employees, agents, visitors or invitees shall be borne by the Tenant. Tenant shall also reimburse and hold Landlord harmless tram any loss, expense or damage incurred by Landlord arising out of any such violation. {00324046) 23 EXHIBIT ‘SD” CONSTRUCTION OBLIGATIONS 1. Landlord shall perform the tenant finish construction work outlined below in the Premises in accordance with plans and specifications to be mutually agreed upon by Landlord and Tenant (Landlord’s Work’). a. Landlord shall install sound boots” above the return air grilles to lessen sound transfer to and from offices. Any efforts and materials desired by Tenant beyond this will be at Tenant’s sole cost and expense. b. Landlord shall install a concrete ramp at north west corner to accommodate deliveries. c. Landlord shall secure the double fire doors or fill opening. d. Landlord shall steam clean carpet. e. General contractor and all sub-contractors, if any, for completion of said work shall be at the sole discretion of Landlord. 2. Tenant shall perform the work outlined below in a mutually agreeable manner between Landlord and Tenant (‘Tenant’s Work”). Landlord may require Tenant and its contractors to provide certificates of insurance along with applicable mechanics’ and materialmen’s lien waivers. a. All Telephone and internet wiring, cabling, networking, telecommunications, furniture, fixtures and equipment shall be the responsibility of, and at the sole cost of the Tenant. b. Tenant, at its sole cost, shall contract to have the compact (repositionable) shelving relocated from another area of the Building into the Leased Premises. c. Tenant shall be responsible to coordinate and complete all additional improvements. (00324046) 24 EXHIBIT “E” OPTION TO EXTEND 1. Option to Extend. The Tenant shall have the option to extend this Lease Agreement from 12:00 a.m. on February 1, 2021, to 11:59 p.m. on January 31, 2024 (“Option Term”). In the event the Tenant desires to exercise said option, Tenant shall give written notice of such exercise to Landlord no later than August 1, 2020. See below for Option Term Rent. In the event of such exercise, this Lease Agreement shall be automatically extended for the additional term. Notwithstanding the foregoing, this option shall be void and of no force or effect if the Tenant is in default of this Lease Agreement either as of the date of the Tenant’s exercise of the option to extend or as of the date of the commencement of the Option Term. 2. Rent. Tenant shall pay the following rent for the Premises: Annual Base Rent during the Option Term shall be fixed until the end of the sixth Lease Year at $4,917.00 per month NNN (approximately $12.75 per RSF per year NNN) {00324046) 25 EXHIBIT “F” AMORTIZATION SCHEDULE POUDRE RIVER PUBLIC LIBRARY D)STRICT - Commission & Tariant improernent Amortization 4627 SF $0.81 $ISFPYR Principal stoi1 Years 3 Annual rate 7.0000% Months 36 Monthly rate 0.5933% Total Paid $11,255.46 Total Inlerast $1,129.78 MONTh PAYMENT INTEREST PRINCIPAL EXTRAPAID BALANCE ENDOFYEAR ENDOFYEAR INTEREST PAID PRINCIPAL PAID 1-Feb.18 $312.65 $59.07 $25359 $000 $9,872 09 1-Mar-IS $312.65 $57.59 $25505 $9,617.03 1.Apr.18 $312.65 $56.10 $25655 $9,360.48 1-May-18 $312.65 $54.60 $258.05 $9,102.43 1-Jun-18 $312.65 $53.10 $259.55 $8,842.88 1-Jul-18 $312.65 $51.58 $261.07 $8,581.81 1-Ai.ig.18 $312.65 $60.06 $262.59 $831922 1-Sep-18 $312.65 $48.53 $264.12 $8,065.09 1-Oct.18 $312.65 $46.99 $265.66 $7,769.43 1-Nov-lB $312.65 $45.44 $267.21 $7,522.22 1-Dec-18 $312.65 $4388 $266.77 $7,253.44 1-Jan-IS $312.65 $42.31 $270.34 $6,983.10 $609.24 $3,142.58 1-Feb.19 $312.65 $40.73 $271.92 $6,711.19 1-Mar-19 $312.65 $39.15 $273.50 $6,437.68 1-Apr-19 $312.65 $37.55 $275.10 $6,162 59 1-May-19 $312.65 $35.95 $276.70 $5,885.86 1-Jun-19 $312.65 S34.33 $278.32 $5,607.57 1-Jul-19 $3126 $32.71 $279.94 $5,327.63 1-Aug-19 $312.65 $31.08 $281.57 $5,046.05 1-Sep.19 $312.65 $29.44 $283.22 $4,762.83 1-Oct.19 $312.65 $27.78 $284.87 $4,477.97 1-Nov-19 $312.65 $26.12 $266.53 $4191.44 1-Dec.19 $312.65 $24.45 $288.20 $3,903.23 1-Jan-20 $312.65 $22.77 $289.88 $3,613.35 538207 $336975 1-Feb-20 S312.65 $21.08 $291.57 $3,321.78 1-Mar-20 $312.65 $19.38 $293.27 $3,028.50 1-Apr-20 $312.65 $17.67 $294.99 52.73352 1-May-20 $312.65 $15.95 $296.71 52,43681 1-Jun-20 $312.66 $14.21 $298.44 52,13838 1-Jul-20 $312.65 $12.47 $300.18 51,83820 1-Aug-20 $312.65 $10.72 $30L93 $153627 1-Sep-20 $312.65 $8.96 $303.69 51.23258 1-Oct-20 $312.65 $7.19 $305.46 $927.12 1-Nov-20 $312.65 $5.41 $307.24 $61987 1-Dec.20 $312.65 $3.62 $309.04 $31084 1-Jan-21 $312.66 $1.81 $310.84 $000 $13847 $3,613.35 (00324046) 26 Tenant’s part to be performed under the terms of this Lease, or arising from any act or negligence of the Tenant, or any officer, agent, employee, guest, or invitee of Tenant, and from all and against all cost, attorney’s fees, expenses and liabilities incurred in or about any such claim or any action or proceeding brought thereon, and, in any case, action or proceeding be brought against Landlord by reason of any such claim, Tenant upon notice from Landlord shall defend the same at Tenant’s expense by counsel reasonably satisfactory to Landlord. Tenant as a material part of the consideration to Landlord hereby assumes all risk of damage to property or injury to persons, in, upon or about the Premises, from any cause other than Landlord’s willful acts or misconduct, and Tenant hereby waives all claims in respect thereof against Landlord. Landlord or its agents shall not be liable for any damage to property entrusted to employees of the Building, nor for loss or damage to any property by theft or otherwise, nor for any injury to or damage to persons or property resulting from fire, explosion, falling plaster, steam, gas, electricity, water or rain which may leak from any part of the Building or from the pipes, appliances or plumbing works therein or from the roof, street or subsurface or from any other place resulting from dampness or any other cause whatsoever, unless caused by the willful acts or misconduct of Landlord, its agents, servants or employees. Landlord or its agents shall not be liable for interference with the light or other incorporeal hereditaments, loss of business by Tenant, nor shall Landlord be liable for any latent defect in the Premises or in the Building. Tenant shall give prompt notice to Landlord in case of fire or accidents in or about the Premises or Building, or of effects therein or in the fixtures or equipment. 15. SUBROGATION. As long as their respective insurers so permit, Landlord and Tenant hereby mutually waive their respective rights of recovery against each other for any loss insured by fire, extended coverage and other property insurance policies existing for the benefit of the respective parties. Each party shall obtain any special endorsements, if required by their insurer to evidence compliance with the aforementioned waiver. 16. LIABILITY INSURANCE. Tenant shall, at Tenants expense, and without waiving any of its rights under the Colorado Governmental Immunity Act (C.R.S., Sections 24-1-101 et. seq.) obtain and keep in force during the Lease Term, a policy of commercial general liability insurance insuring Landlord and Tenant against any liability arising out of the ownership, use, occupancy or maintenance of the Premises and all areas appurtenant thereto, in an amount of not less than $1,000,000 each occurrence, $2,000,000 annual aggregate, including contractual liability coverage of Tenant’s obligations to Landlord under this Lease. The limit of said insurance shall not, however, limit the liability of the Tenant hereunder. Tenant may carry said insurance under a blanket policy, providing, however, said insurance by Tenant shall name the Landlord as additional insured. Tenant covenants and agrees to increase said liability insurance to such additional amounts as Landlord from time to time may reasonably require. Tenant shall be responsible for the maintenance of the plate glass on the Premises, but shall have the option either to insure the risk or to self insure. If Tenant shall fail to procure and maintain said insurance, Landlord may, but shall not be required to, procure and maintain same, but at the expense of Tenant. Insurance required hereunder shall be in companies rated A+ Superior or better according to AM Best. Tenant shalt deliver to Landlord (00324046) 7 and belong to the Landlord and shall be surrendered with the Premises. In the event Landlord consents to the making of any alterations, additions or improvements to the Premises by Tenant, the same shall be made by Tenant at Tenant’s sole cost and expense, and any contractor or person selected by Tenant to make the same must first be approved of in writing by the Landlord. Upon the expiration or sooner termination of the Lease, Tenant shall, upon thirty (30) days prior written notice from Landlord, at Tenant’s sole cost and expense, remove any alterations, additions, or improvements designated by Landlord to be removed. Tenant shall, at its sole cost and expense, repair any damage to the Premises caused by such removal. II. REPAIRS. A. By taking possession of the Premises, Tenant shall be deemed to have accepted the Premises as being in good, sanitary order, condition and repair. Tenant shall, at Tenant’s sole cost and expense, keep the Premises and every part thereof in good condition and repair, including, without limitation, electrical fixtures; light fixtures including bulbs, ballasts, lenses, and diffusers; ceiling tiles, doors and glass associated exclusively with the Premises; sinks, toilets, and plumbing. Tenant shall upon the expiration or sooner termination of this Lease surrender the Premises to the Landlord in good condition, ordinary wear and tear excepted. Except as otherwise specifically provided herein, Landlord shall have no obligation whatsoever to alter, remodel, improve, repair, decorate or paint the Premises or any part thereof and the parties hereto affirm that Landlord has made no representations to Tenant regarding the condition of the Premises or the Building except as specifically herein set forth. B. Notwithstanding the foregoing, Landlord shall at its sole cost and expense be responsible for any repairs, maintenance and replacement in the structural portions of the Building, defined as the supporting columns, structural portions of exterior walls, joists and structural portions of the roof decking, unless caused in part or in whole by the act, neglect, fault or omission of any duty by the Tenant, its agents, servants, employees and invitees, in which case the Landlord shall, at Tenant’s sole cost and expense, make such repairs and replacements as are necessary to maintain such structural portions in a good condition. C. Further, Landlord shall, as Tenant’s Operating Expenses pursuant to Article 7 hereof, be responsible for maintenance, repairs, and replacements of the following, without limitation: plumbing and electrical systems of the Property; heating, ventilating and air-conditioning systems of the Property; the non-structural components of the exterior walls such as paint, masonry and siding, the parking lot areas, sidewalks, driveways, and other exterior Common Areas surrounding the Suilding; restrooms, corridors, lobbies and other interior areas used in common by the tenants, invitees, or occupants of the 8uilding; and the built-up portion of the roof (which shall include shingles, felt, tar, insulating materials, asphalt and gravel components, layered membranes, or other similar non-structural roofing systems), unless caused in part or in whole by the act, neglect, fault or omission of any duty by the Tenant, its agents, contractors, servants, employees and invitees, in which case the Landlord shall, at Tenant’s sole cost and expense, make such repairs and replacements as are necessary to maintain such systems and improvements in a good {00324046) 5 including but not limited to the provisions relating to the payment of rent or adjustments, Landlord may (but shall not be required to) use, apply or retain all or any part of the Deposit for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant’s default, or to compensate Landlord for any loss or damage which Landlord may suffer by reason of Tenant’s default. If any portion of the Deposit is so used or applied, Tenant shall within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Deposit to its original amount and Tenant’s failure to do so shall be a material breach of this Lease. If Tenant shall fully and faithfulLy perform every provision of this Lease to be performed by it, the Deposit or any balance thereof (less any charges as described below) shall be returned to Tenant (or at Landlord’s option, to the last assignee of Tenant’s interest hereunder) on/or before sixty (60) days following the expiration of the Lease. In the event of termination of Landlord’s interest in this Lease, Landlord shall transfer said Deposit to Landlord’s successor in interest. At the end of the Lease Term Landlord shall inspect the Premises and prepare a checklist of damages, if any, and at Tenant’s expense Landlord shall clean the carpeting; repaint smudged walls, replace damaged or soiled ceiling tile; replace light fixtures (including light bulbs); repair damages beyond normal wear and tear; replace unreturned keys (including mailbox keys); and generally clean the Premises. Upon the termination of this Lease, whether such termination is voluntary or involuntary, Tenant agrees Landlord shall be entitled to deduct an amount equal to the actual expenses from the Deposit held by Landlord pursuant to this Article 6, and if the remaining balance of such Deposit is less than the related expenses, Tenant agrees to pay the difference to Landlord upon receipt of the billing statement therefor. 7. OPERATING EXPENSES. A. It is understood that the Annual Base Rent specified in Article 5 does not include “Operating Expenses for the Property. In addition to the Annual Base Rent, during the Lease Term, the Tenant shall pay its share of all Operating Expenses, commencing when Annual Base Rent commences. Operating Expenses are estimated to be $1,570.00 per month (or approximately $4.07/sf per year for 2018. B. Tenant agrees to pay, during the Lease Term, as additional rent, its share of Operating Expenses as follows: (i) CRS §39.3.1 24 exempts real property leased by the State of Colorado from the levy and collection of property taxes. Therefore, the Operating Expenses and Base Rent shown above does not include any tax based upon real property. Also, the Operating Expenses/RSF is an estimate only and Landlord may adjust this amount annually. (ii) For Operating Expenses specifically related to Tenant and not to the common benefit of all tenants of the Property, Tenant shall pay 100% of such costs within thirty (30) days after receipt of Landlord’s billing statement therefor. (iii) Tenant agrees to pay its Pro Rata Share of those Operating Expenses directly related to the Property for the common benefit of all tenants of the Property. Landlord shall estimate the annual Operating Expenses and Tenant shall pay monthly, one-tweLfth (1/12) of said estimate as additional rent. As soon as is practicable following the end of each calendar year, (00324046) 3