eTrade 2000 Annual Report Download - page 147

(10%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one (1)
appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting
quotients shall be the Initial Fair Market Rent and Average Annual Percentage. If both the low appraisal and the high appraisal of
either the Initial Fair Market Rent or the Average Annual Percentage are disregarded as stated in this Section, the middle appraisal
shall be the Initial Fair Market Rent or Average Annual Percentage, as applicable.
25.4 Notice to Landlord and Tenant . After the monthly Base Rent for an Extension Term has been set, Landlord and Tenant
immediately shall execute an amendment to the Lease stating the monthly Base Rent .
26. Option to Expand .
26.1 Expansion Option Provided that (i) no Event of Default by Tenant exists under the terms of this Lease at the time Tenant
exercises its option to expand the Premises or at the time Tenant is to commence occupancy of the space in question, (ii) E-Trade
Group, Inc. or a Permitted Assignee occupies at least ninety percent (90%) of the Building, the 4500 Bohannon Building and all other
space leased to Tenant pursuant to this Lease and the 4500 Bohannon Lease, and (iii) Tenant has a financial net worth of at least Five
Hundred Million Dollars ($500,000,000.00) at the time Tenant exercises its Expansion Option or otherwise delivers to Landlord the
additional security deposit required pursuant to Section 26.6 below, Tenant shall have the option (the “Expansion Option”) to lease the
space (the “4400 Bohannon Expansion Option Space”) listed on Exhibit F , attached hereto, upon the terms and conditions cont ained
in this Section 26.
26.2 Exercise of Expansion Option . Tenant shall exercise the Expansion Option by written notice to Landlord no earlier June 1, 1999
and no later than August 31, 1999.
Notwithstanding the foregoing, if the tenant that currently leases the 4400 Bohannon Expansion Option Space defaults on its
obligations under its lease and Landlord either terminates the existing tenant’ s lease or enters into a lease termination agreement with
the existing tenant (in lieu of bringing an unlawful detainer action against the existing tenant) which results in the 4400 Bohannon
Expansion Option Space becoming available for lease prior to August 31, 2000 (hereinafter referred to as an “Early Termination
Event”), then Tenant shall exercise its Expansion Option to lease the 4400 Bohannon Expansion Option Space (if at all) within
forty-five (45) days after Landlord notifies Tenant in writing of the date that the 4400 Bohannon Expansion Option Space has become
or will become available for lease; provided, however, in no event will Tenant be required to exercise its Expansion Option more than
twelve (12) months prior to the date the 4400 Bohannon Expansion Option Space b ecomes available for lease. If Tenant fails to
exercise the Expansion Option with respect to the 4400 Bohannon Expansion Option Space within the time period provided above, the
Expansion Option shall expire, and Tenant and Landlord shall have no further rights or obligations under this Section with respect to
the 4400 Bohannon Expansion Option Space.
26.3 Terms of Lease . Landlord shall lease the 4400 Bohannon Expansion Option Space to Tenant on all the same terms and
conditions contained in this Lease except (i) Landlord shall not be required to pay to Tenant any tenant improvement allowance or
inducement, (ii) the term of Tenant’ s lease of the 4400 Bohannon Expansion Option Space shall be for ten (10) years, commencing on
the date on which Landlord delivers to possession of the 4400 Bohannon Expansion Option Space to Tenant (subject to extension
pursuant to Section 26.5), (iii) Tenant may not place or install exterior signage on the building in which the 4400 Bohannon Expansion
Option Space is located, (iv) Tenant shall deliver to Landlord concurrently with Tenant’ s execution of an amendment to this Lease to
include the 4400 Bohannon Expansion Option Space or Tenant’ s execution of a new lease for the 4400 Bohannon Expansion Option
Space (which Tenant shall execute within thirty (30) days after Tenant exercises its Expansion Option and receives the proposed
amendment or lease from Landlord) a security deposit for the 4400 Bohannon Expansion Option Space in an amount equal to the last
monthly installment of Base Rent due for the 4400
Bohannon Expansion Option Space, (v) the monthly Base Rent per rentable square foot for the 4400 Bohannon Expansion Option
Space shall be an amount equal to monthly Base Rent per rentable square foot of the existing Premises in effect at the commencement
of the term of the 4400 Bohannon Expansion Option Space, less (1) the amount of the monthly Base Rent per rentable square foot
attributable to the Additional Allowance (if any) and (2) the amount of the monthly Base Rent per rentable square foot attributable to
the Base Allowance (which the parties agree to be an amount equal to Seven and One-Half Cents ($0.075) per rentable square foot,
increased by three and one-half percent (3.5%) per annum beginning on the Commencement Date and ending on the commencement
date of the term of the 4400 Bohannon Expansion Space), subject to further increases thereafter in the same percentages and on the
same dates as the remainder of the Premises pursuant to Section 4.2, and (vi) Tenant shall lease the 4400 B ohannon Expansion Option
Space in its “as is” condition, except Landlord shall deliver the 4400 Bohannon Expansion Option Space to Tenant in broom clean
condition, with building systems in good working condition and the roof in water right condition.
26.4 Delivery of 4400 Bohannon Expansion Option Space . If Tenant exercises its Expansion Option, Landlord shall use commercially
reasonable efforts to deliver possession of the 4400 Bohannon Expansion Option Space to Tenant within five (5) days after Landlord
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