Circuit City 2009 Annual Report Download - page 65

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and improve the Additional Premises in accordance with and subject to all obligations and conditions of the Lease. All such work shall be
subject to Landlord’s prior approval, which approval shall not be unreasonably withheld or delayed, and which shall be done by Tenant in
accordance with any reasonable requirements and reasonable standards of Landlord, and in a good and workmanlike manner.
5.
Expansion Rights. Tenant’s “First Right of Notice to Lease” set forth in Section R-6 of the Rider to the Lease and Tenant’s
“Expansion Rights” set forth in Section R-7 of the Rider to the Lease shall be modified to specifically exclude from such rights any portion of
the Building leased to Technical Career Institute, Inc., its successors or permitted assigns, specifically being Spaces 230 and 240 of the Building.
6.
Relocation of Additional Premises.
(a) On at least one hundred eighty (180) days’ prior written notice at any time during the Term, Landlord may require Tenant
to move from the Additional Premises to another space of between 10,000 square feet to 16,000 square feet in the Shopping Center or Building
in order to permit Landlord to consolidate or expand the Premises with adjoining space, or to expand or renovate the Shopping Center or the
portion thereof in which the Premises are located, or for the rearrangement of tenant mix groupings or for any other aesthetic purposes. Such
substitute premises shall provide an exterior double-door entrance for retail customer use and, unless Tenant otherwise consents, which consent
shall not be unreasonably withheld, delayed or conditioned, shall be located in the “Permitted Relocation Area” on the sketch attached hereto as
Amendment Exhibit “B”. Upon such notice, Tenant may elect not to move to the other space only by terminating this Lease with respect to the
Additional Premises only, by delivering written notice to Landlord within sixty (60) days after the date of Landlord’s original notice of
relocation, such termination to be effective upon the expiration of such one hundred eighty (180) day period.
(b) If Tenant relocates to the new space, this Lease shall remain in full force and effect and thereupon be deemed applicable
to such new space except that:
(i)
If the relocation is to substitute premises in the Shopping Center as such currently exists, the Landlord shall
revise the Lease to reflect the new premises and any proportionate changes in the Annual Rent and Direct Costs and Taxes if any, effective as of
the date of relocation, resulting from a difference in the floor area of the Additional Premises and such substituted premises.
(ii)
If the relocation is to substitute premises in the Shopping Center after such has been substantially
redeveloped, renovated or reconfigured (“substantially” being based on the total cost to Landlord of such redevelopment, renovation or
reconfiguration being at least $20,000,000, which costs shall include without limitation, soft and hard costs of development and construction,
cancellation fees, buy out costs, lost, abated or waived rent, relocation expenses, and any other costs and expenses associated therewith) rent for
the substitute premises shall commence at the then current gross rent under the Lease without reduction of offset for the substitute space
3
RREEF