Circuit City 2005 Annual Report Download - page 122

contrary, within thirty (30) days after the Amendment Date, Landlord shall pay to Tenant the amount of $428,000.00 to
be applied by Tenant toward the cost of the Expansion Improvements.
19. Special Stipulations 2 (Right of First Refusal to Lease), 3 (Option to Extend Term), 7 (Landlord's
Insurance), 9 (Operating Expenses - Cap on Controllable Expenses), 11 (Option to Purchase) and 12 (Substantial
Completion) set forth on Exhibit C to the Lease are hereby deleted in their entirety and shall be of no further force or
effect.u
20. Option to Extend Term .
(a) Landlord hereby grants to Tenant one (1) option to extend the Term for a period of five (5) years, such
option to be exercised by Tenant giving written notice of its exercise to Landlord in the manner provided in this Lease
at least one hundred eighty (180) days prior to (but not more than two hundred ten (210) days prior to) the expiration of
the Term, as extended hereby. No extension option may be exercised by Tenant if an Event of Default has occurred and
is then continuing or any facts or circumstances then exist which, with the giving of notice or the passage of time, or
both, would constitute an Event of Default either at the time of exercise 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 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 for the five (5) year option period, which amount shall not be less than the Base Rental rate to be in
effect immediately prior to the commencement of such option period, 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 option to extend the Term, in which case the Term, as extended by this Amendment, shall
expire on its scheduled expiration date and Tenant's 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 for the extended term shall be the Base Rent set forth in Landlord's notice to
Tenant.
(c) Except for the Base Rent, which shall be determined as set forth in subparagraph (b) above, leasing of
the Demised Premises by Tenant for the extended term shall be subject to all of the same terms and conditions set forth
in the Lease, including Tenant's obligation to pay Tenant's share of Operating Expenses as provided in the 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 the 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.
21. Except for Cushman & Wakefield of Georgia, whose commission shall be paid by Landlord, Landlord and
Tenant each represents and warrants to the other that neither party has engaged or had any conversations or
negotiations with any broker, finder or other third party concerning the matters set forth in this Amendment who would
be entitled to any commission or fee based on the execution of this Amendment. Landlord and Tenant each hereby
indemnifies the other against and from any claims for any brokerage commissions and all costs, expenses and liabilities
in connection therewith, including, without limitation, reasonable attorneys' fees and expenses, for any breach of the
foregoing. The foregoing indemnification shall survive the termination of the Lease for any reason.
22. Except as expressly provided herein, no free rent, moving allowances, tenant improvement allowances or
other such financial concessions contained in the Lease shall apply to the Term as extended hereby. Tenant accepts the
Demised Premises in their "as-is" condition.
23. Tenant represents to Landlord that, as of the date hereof, Landlord is not in default of the Lease.
24. For purposes of this Amendment, the term "Amendment Date" shall mean the date upon which this