Common use of Second Additional Space Clause in Contracts

Second Additional Space. (a) Landlord agrees to lease to Tenant, and Tenant agrees to lease from Landlord, an additional approximate 2,982 square feet located on the fourth floor of the Building, as more particularly outlined on the attached Exhibit A ("Second Additional Space"). (b) Landlord agrees to rent the Second Additional Space to Tenant for a term of five (5) years commencing May 15, 2002 (the "Second Commencement Date") and expiring on May 31, 2007 (the "Second Expiration Date"), unless earlier terminated under the terms of the Lease (the "Second Additional Space Term"). The rental (the "Second Additional Space Rent") for each Lease Year of the Second Additional Space shall be as follows: Lease Year Required Annual Rent Permitted Monthly Payment ---------- -------- ----------- ------------------------- First $53,676.00 $4,473.00 Second $55,823.04 $4,651.92 Third $58,055.96 $4,838.00 Fourth $60,378.20 $5,031.52 Fifth $62,793.33 $5,232.78 Payments of Second Additional Space Rent shall be made monthly ("Monthly Installments") together with payments of rent under the Lease. (c) For purposes of this Amendment, the term Lease Year shall mean the consecutive twelve calendar month period commencing with the Second Commencement Date. In the event rent is due for any part month period, such rent shall be pro rated on a per diem basis. (d) Notwithstanding anything to the contrary contained herein, monthly payments of the Second Additional Space Rent for the second, fourth, sixth and eight month of the first Lease Year shall be deferred (the "Deferred Payments"), and Tenant shall not be obligated to remit such payments to Landlord when same falls due. The total amount of the Deferred Payments shall instead be paid to Landlord, together with interest at the rate of eight percent (8%) per annum, in equal monthly payments of $1,639.40 (the "Deferred Monthly Amounts") together with the Monthly Installments during each month of the second Lease Year. Failure to timely pay the Deferred Monthly Amounts shall be considered a default under the Lease and shall entitle Landlord to exercise any and all rights arid remedies provided for therein. (e) Notwithstanding anything to the contrary contained herein, in the Original Lease and in the First Extension Agreement, the aggregate Required Annual Rent (exclusive of additional rent) for the Initial Promises, the First Additional Space and the Second Additional Space, for each Lease Year through and including the Option period, as applicable, shall be as follows: Lease Year Required Annual Rent Permitted Monthly Payment ---------- -------------------- ------------------------- First $193,609.56 $16,134.13 Second $201,353.94 $16,779.50 Third $209,408.10 $17,450.68 Fourth $217,784.42 $18,148.70 Fifth $226,495.80 $18,874.65 OPTION PERIOD* First $235,555.63 $19,629.64 Second $244,977.86 $20,414.82 Third $254,776.97 $2l, 231.41 Fourth $264,968.05 $22,080.67 Fifth $275,566.77 $22,963.90 * as applicable Landlord and Tenant agree that the foregoing schedule of Required Annual Rent shall supersede any Statement of Required Annual Rent in the Original Lease or the First Extension Agreement with respect to each Lease Year through and including the Option period, as applicable.