Circuit City 2005 Annual Report Download - page 102

of the option or at the time the applicable Term would otherwise have expired if the applicable option had not been
exercised.
(b) If Tenant exercises its first option to extend the Term, Landlord shall, within thirty (30) days after the
receipt of Tenant’s notice of exercise, notify Tenant in writing of Landlord’
s reasonable determination of the Base Rent
for the Demised Premises during the first Extension Term, which amount shall not be less than the Base Rent for the
prior Term nor greater than $3.85 per square foot, taking into account all relevant factors for space of this type in the
Buford, Georgia area. The Base Rent for the Demised Premises during the first Extension Term shall be the Base Rent
set forth in Landlord’s notice to Tenant.
(c) If Tenant exercises its second option to extend the Term, Landlord shall, within thirty (30) days after the
receipt of Tenant’s notice of exercise, notify Tenant in writing of Landlord’
s reasonable determination of the Base Rent
for the Demised Premises during the second Extension Term, which amount shall not be less than the Base Rent for the
prior Term (as previously extended), taking into account all relevant factors for space of this type in the Buford,
Georgia area. Tenant shall have thirty (30) days from its receipt of Landlord’s notice to notify Landlord in writing that
Tenant does not agree with Landlord’s determination of the Base Rent and therefore that Tenant elects to retract its
second option to extend the Term, in which case the Term, as it may have been previously extended, shall expire on its
scheduled expiration date and Tenant’s second option to extend the Term shall be void and of no further force and
effect. If Tenant does not notify Landlord of such retraction within thirty (30) days of its receipt of Landlord’s notice,
Base Rent for the Demised Premises during the second Extension Term shall be the Base Rent set forth in Landlord’s
notice to Tenant.
(d) Notwithstanding anything herein to the contrary, at the time Tenant exercises its first extension option,
Tenant may elect in writing to extend the Term at that time for a period of ten (10) years, in which case Tenant’s
second option to extend the Term for a period of five (5) years shall be void and of no further force and effect. If
Tenant so elects to extend the Term for a period of ten (10) years, Landlord shall, within thirty (30) days after the
receipt of Tenant’s notice of exercise, notify Tenant in writing of Landlord’
s reasonable determination of the Base Rent
for the Demised Premises for the ten (10) year extension term, which amount shall not be less than the Base Rent for
the prior Term nor greater than (i) $3.85 per square foot for the first five (5) years of such ten (10) year extension term,
or (ii) $4.43 per square foot for the second five (5) years of such ten (10) year extension term, taking into account all
relevant factors for space of this type in the Buford, Georgia area. The Base Rent for the Demised Premises during the
ten (10) year extension term shall be the Base Rent set forth in Landlord’s notice to Tenant.
(d) Except for the Base Rent, which shall be determined as set forth in subparagraphs (b) and (c) or (d) above,
leasing of the Demised Premises by Tenant for the applicable extended term shall be subject to all of the same terms
and conditions set forth in this Lease, including Tenant’s obligation to pay Tenant’s share of Operating Expenses as
provided in this Lease; provided, however, that any improvement allowances, rent abatements or other concessions
applicable to the Demised Premises during the initial Term shall not be applicable during any such extended term, nor
shall Tenant have any additional extension options unless expressly provided for in this Lease. Landlord and Tenant
shall enter into an amendment to this Lease to evidence Tenant’s exercise of its renewal option. If this Lease is
guaranteed, it shall be a condition of Landlord’s granting the renewal that Tenant deliver to Landlord a reaffirmation of
the guaranty in which the guarantor acknowledges Tenant’s exercise of its renewal option and reaffirms that the
guaranty is in full force and effect and applies to said renewal.
4. Building Compliance with Laws . Landlord represents and warrants to Tenant that, to Landlord’s actual
knowledge, the design and construction of the Building materially complies with all applicable federal, state, county
and municipal laws, ordinances and codes in effect as of the Lease Date, excepting therefrom any requirements related
to Tenant’s specific use of the Demised Premises.
5. Landlord’s and Tenant’s Compliance with ADA . Subject to the last sentence hereof, Landlord, at its sole cost
and expense, shall be responsible for causing the Building and Demised Premises to comply with Title III of the
Americans With Disabilities Act of 1990 (the “ADA”),
or the regulations promulgated thereunder (as said Title III is in
effect and pertains to the general public), as of the Lease Commencement Date. During the Term, Tenant hereby agrees
that it shall be responsible, at its sole cost and expense, for (a) causing the Building, the Building Common Area and
the Demised Premises to comply with Title III of the ADA as a result of (i) any special requirements of the ADA
relating to accommodations for individual employees, invitees and/or guests of Tenant and (ii) any improvements or