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