Circuit City 2005 Annual Report Download - page 73

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INDUSTRIAL LEASE AGREEMENT
THIS LEASE AGREEMENT (the “Lease”) is made as of the “Lease Date” (as defined in Section 37 herein) by
and between HAMILTON MILL BUSINESS CENTER, LLC, a Delaware limited liability company (“Landlord”), and
GLOBAL EQUIPMENT COMPANY, INC., a New York corporation (“Tenant”) (the words “Landlord” and “Tenant”
to include their respective legal representatives, successors and permitted assigns where the context requires or
permits).
W I T N E S S E T H:
1.
Basic Lease Provisions
. The following constitute the basic provisions of this Lease:
(a) Demised Premises Address: 2505 Mill Center Parkway, Suite 100
Buford, Georgia 30518
(b)
Demised Premises Square Footage:
approximately 517,628 sq. ft.
(c)
Building Square Footage:
approximately 647,228 sq. ft.
(d)
Annual Base Rent:
Lease Year 1 $1,552,884.00
(annualized) (plus the prorated amount for any Fractional Month per
Section 3 hereof, if applicable) [per Section 3 hereof, Lease
Year 1 includes 15 months (3 months of free Base Rent,
plus the next 12 months after the Base Rent
Commencement Date)]
Lease Years 2
-
5
$1,552,884.00
Lease Years 6
-
10
$1,734,054.00
(e)
Monthly Base Rent Installments:
Lease Year 1
Months 1-3:
Months 4
-
15:
$0.00
$129,407.00
(plus the prorated amount for any Fractional Month per
Section 3 hereof, if applicable)
Lease Years 2-5
Months 16
-
63:
$129,407.00
Lease Years 6-
10
Months 64-
123:
$144,504.50
(f) Lease Commencement Date: May 1, 2006, or any earlier date upon which Tenant commences
business operations from the Demised Premises
(g)
Base Rent Commencement Date:
August 1, 2006
(h)
Expiration Date:
July 31, 2016
(i) Primary Term: One hundred twenty-three (123) months plus, in the event the Base Rent
Commencement Date does not occur on the first (1st) day of a calendar month, the period from and
including the Base Rent Commencement Date to and including the last day of the calendar month in
which the Base Rent Commencement Date occurs (if applicable, the "Fractional Month")
(j) Tenant's Operating Expense
Percentage:
79.98%