EXHIBIT 10.29
STATE OF TEXAS
COUNTY OF BEXAR
▇▇▇ ▇▇▇▇ ▇▇▇▇ BUILDING
LEASE AGREEMENT
LANDLORD TENANT: THIS LEASE AGREEMENT, made and entered into as of the
7th day of January, 1998, between ▇▇▇▇ ▇. ▇▇▇▇▇ and Associates, as Agent for the
Owners of Circle Bar - 800 ▇▇▇▇ Road Building, hereinafter referred to as
"Landlord", and Globalscape Inc. hereinafter referred to as "Tenant".
1. LEASED PREMISES: In consideration of the mutual covenants as set
forth herein, Landlord hereby leases to Tenant and Tenant hereby leases from
Landlord, for the rental and on the terms and conditions hereinafter set forth,
approximately 5,401 square feet of usable space on the 4th floor (known as Suite
400) of The ▇▇▇ ▇▇▇▇ ▇▇▇▇ Building (herein called the "Building") located at ▇▇▇
▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ (herein called "Leased Premises"),
such leased Premises being outlined on the floor plan attached hereto as Exhibit
"A" and made a part hereof. Pro-rated rental for January ___, 1998 until
January 31, 1998 is $__________ (____ days x $209.07/day).
2. TERMS:
(a) Subject to and upon the terms and conditions set forth herein, or
in any exhibit or addendum hereto, this lease shall continue in force and
for a term of 36 months beginning on the 1st day of February, 1998, and
ending on the 31st day of January, 2001, unless sooner terminated or
extended to a later date under any other terms or provisions hereof.
(b) If for any reason the Leased Premises are not ready for occupancy
by Tenant on the commencement date specified in Paragraph 2(a) Landlord
shall not be liable or responsible for any claims, damages, or liabilities
in connection therewith or by reason thereof, and this Lease and the
obligations of Tenant shall commence on a revised commencement date (as
hereinafter provided) and continue in full force and effect; provided,
however, if the Lease Premises are not ready for occupancy for any reason
other than omission, delay, or default on the part of Tenant or anyone
acting under or for Tenant, the rent herein provided shall not commence
until the Leased Premises are ready for occupancy by Tenant. Such
abatement of rent shall constitute full settlement of all claims that
Tenant might otherwise have against Landlord by reason of the Leased
Premises not being ready for occupancy by Tenant on the date of
commencement of the term hereof. Should the term of this Lease commence on
a date other than that specified in Paragraph 2(a) above, rental under this
Lease
shall commence on such revised commencement date, and the stated term
in this Lease shall thereupon commence so as to give effect to the full
stated term. The Leased Premises shall be deemed to be ready for occupancy
on the first to occur of (i) the date that there is delivered to Tenant a
certificate of substantial completion from Landlord's architect, or (ii)
upon the date on which Tenant begins occupancy of the Leased Premises.
3. USE: The Leased Premises are to be used and occupied by Tenant solely
for office purposes and for no other purpose or use without the prior written
consent of Landlord.
4. BASE RENT: Tenant agrees to pay to ▇▇▇▇ ▇. ▇▇▇▇▇ and Associates for
the account of Landlord rent for said premises at the rate of Six Thousand Four
Hundred Eighty-One Dollars and Twenty Cents ($6,481.20) per month in advance.
One such monthly installment shall be due and payable on or before the beginning
date of this Lease, and a like monthly installment shall be due and payable on
or before the same day of each succeeding calendar month during the first year
of this Lease. The renewal rate for years 2 and 3 of this Lease Agreement (Feb.
1, 1999 through Jan. 31, 2001) will be $7,291.35 per month. Tenant has
deposited with Landlord, upon delivery of this Lease Agreement, $12,962.40 to be
applied as follows: $6,481.20 to be applied as first month's rent and $6,481.20
to be applied as security deposit, said security deposit to be co-mingled with
Landlord's regular account and refunded to Tenant upon termination of this Lease
provided the Tenant is not in default of this Lease Agreement.
In addition to the foregoing rental, Tenant agrees to pay to Landlord
as additional rental all charges for any services, goods, or materials furnished
by Landlord at Tenant's request which are not required to be furnished by
Landlord under this Lease Agreement, as well as all other sums payable by Tenant
hereunder, within thirty (30) days after Landlord renders a statement thereof to
Tenant. All past due installments shall bear interest at the rate of 10% per
annum from date due until paid.
5. RENEWAL OPTION: Provided that at the end of the primary term of this
Lease Tenant not be in default of any term, condition or covenant contained in
this Lease, Tenant (but not any assignee or subtenant) shall have the right and
option to renew this Lease, by written notice delivered to Landlord with copy to
Principal Realtor no later than 120 days prior to the expiration date of the
primary term, for the additional term of three (3) years, under the same terms,
conditions, and covenants contained herein, except:
(a) Tenant shall have no further renewal options unless expressly
granted by Landlord in writing; and
(b) The monthly rental shall be adjusted in the proportion which the
consumer price index for all urban consumers (CPI-U) (U. S. City Average)
of the United States Bureau of Labor Statistics for the month of July 1997
bears to the consumer price index for all urban consumers (CPI-U) (U. S.
City Average)
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for the month of July 2000. However, in no event, shall such
monthly rental for the extended term be less than the monthly rental of the
final year of the primary lease term.
6. ADDITIONAL RENT - BUILDING OPERATING EXPENSES: The total rentable
area of the Building is 29,672 square feet. For purposes of this section of
Lease Agreement, it is agreed that Tenant's pro-rata share of the rentable area
of the Building is 18.2% and that this percent will be Tenant's pro-rata share
of Building Operating Expenses.
(a) Prior to January 1 of each calendar year, Landlord will prepare and
provide to Tenant an estimate of the total Building Operating Expenses
(said Building Operating Expenses being described as Basic Costs on Exhibit
"B") for the forthcoming calendar year. To the extent and only to the
extent that the estimated Building Operating Expenses for the year in
question exceed the Building Operating Expenses for the year 1997 (Base
Year) per square foot, then Tenant agrees to pay monthly, along with the
Base Rent, an additional rent equal to one-twelfth (1/12) of Tenant's pro-
rata (18.2)% share of such excess. If this paragraph 6 becomes applicable
on any day other than January 1, then Tenant agrees to pay each month for
the balance of the calendar year in which this paragraph 6 becomes
applicable, one-twelfth (1/12) of Tenant's pro-rata share of such excess of
estimated Building Operating Expenses as prepared by Landlord prior to the
preceding January 1.
(b) By June 1 of each calendar year, or as soon thereafter as possible,
Landlord shall furnish Tenant a statement of the actual Building Operating
Expenses for the previous calendar year. A lump sum payment or credit will
be made from Tenant to Landlord, in the case of a payment, and from
Landlord to Tenant, in the case of a credit, within 30 days of the delivery
of such statement. The effect of this reconciliation payment/credit is
that Tenant will pay no more or less than Tenant's pro-rata 18.2% share of
any excess over the Building Operating Expenses for the year 1997 (Base
Year) per usable square foot of the actual Building Operating Expenses for
any calendar year.
(c) Tenant shall have the right, at its expense and at a reasonable
time, to examine Landlord's books relevant to additional rentals due
under this section.
7. SERVICE & UTILITIES: Landlord, at its own cost and expense, will pay
for all charges for gas, water and electricity used by Tenant while occupying
the Leased Premises, with electricity for ordinary office use (not to include,
however, data processing machines, including air conditioning costs therefor,
large business machines and similar equipment of high electrical consumption
characteristics); ballast and lamp replacement for the building's standard
fluorescent lighting fixtures located in the demised premises, elevator service;
janitorial service on a five-day week basis, in the
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manner and to the extent deemed standard by Landlord during the periods and
hours as such services are normally furnished to all Tenants. Tenant will pay
all telephone charges; Landlord agrees to furnish Tenant with tempered and
refrigerated water at those points of supply provided for general use of those
tenants in the building; heated and refrigerated air conditioning in season, at
temperatures and in amounts which Landlord considers standard. Landlord shall
not be liable in damages or otherwise for failure, stoppage or interruption of
any such service, nor shall the same be construed as an eviction of Tenant, work
an abatement of rent, or relieve Tenant from the operation of any covenant or
agreement; but in the event of any failure, stoppage or interruption thereof,
Landlord shall use reasonable diligence to resume service promptly. The work of
the building janitor shall not be hindered by Tenant.
8. MAINTENANCE REPAIRS AND USE: Landlord shall, at its own cost and
expense, provide for the cleaning and maintenance of the public portions of the
building, including painting and landscaping surrounding the building. Unless
otherwise expressly stipulated herein, Landlord shall not be required to make
any improvements or repairs of any kind or character on the Leased Premises
during the term of this Lease, except such repairs as may be required by normal
maintenance operations, which shall include repairs to the exterior walls,
corridors, windows, roof and other structural elements and equipment of the
building, and such additional maintenance as may be necessary because of damages
by persons other than Tenant, its agents, employees, invitees or visitors.
Landlord shall have sole control over the parking of automobiles and other
vehicles and shall designate parking areas and building service areas.
Landlord, its officers, agents and representatives, subject to any
security regulations imposed by any governmental authority, shall have the right
to enter all parts of the Premises at all reasonable hours to inspect, clean,
make repairs, alterations and additions to the building or Premises which it may
deem necessary or desirable, or to provide any service which it is obligated to
furnish to Tenant, and Tenant shall not be entitled to any abatement or
reduction of rent by reason thereof.
Landlord may at its option and at the cost and expense of Tenant,
repair or replace any damage or injury done to the building or any part thereof,
caused by Tenant, Tenant's agents, employees, licensees, invitees or visitors;
Tenant shall pay the cost thereof to Landlord on demand. Tenant further agrees
to maintain and keep the interior of the Leased Premises in good repair and
condition at Tenant's expense. Tenant agrees not to commit or allow any waste or
damage to be committed on any portion of the Leased Premises, and at the
termination of this Lease, by lapse of time or otherwise, to deliver up the
Leased Premises to Landlord in as good condition as on date of possession by
Tenant, ordinary wear and tear alone excepted, and upon such termination of
Lease, Landlord shall have the right to re-enter and resume possession of the
Leased Premises.
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Tenant will not use, occupy or permit the use or occupancy of the
Leased Premises for any purpose which is, directly or indirectly, forbidden by
law, ordinance, or governmental or municipal, regulation or order, or which may
be dangerous to life, limb, or property; or permit the maintenance of any public
or private nuisance; or do or permit any other thing which may disturb the quiet
enjoyment of any other tenant of the building; or keep any substance or carry on
or permit any operation which might emit offensive odors or conditions into
other portions of the building; or use any apparatus which might make undue
noise or set up vibrations in the building; or permit anything to be done which
would increase the fire and extended coverage insurance rate on the building or
contents, and if there is any increase in such rates by reason of acts of
Tenant, then Tenant agrees to pay such increase promptly upon demand therefor by
Landlord.
9. QUIET ENJOYMENT: Tenant, on paying the said rent and performing the
covenants herein agreed to be by it performed, shall and may peaceably and
quietly have, hold and enjoy the Lease Premises for the said term.
10. ALTERATIONS: Tenant covenants and agrees to keep the Premises free
of all liens for improvements or otherwise and that it will make no structural
change or major alteration without Landlord's written consent in advance, and
without first furnishing the Landlord fifteen (15) days advance notice outlining
in detail the proposed changes or alterations.
11. SUBLETTING: Tenant shall not assign this Lease or allow it to be
assigned, in whole or in part, by operation of law or otherwise, or mortgage or
pledge the same, or sublet the Leased Premises, or any part thereof, without the
prior written consent of Landlord (which consent shall not be unreasonable
withheld) and in no event shall any such assignment of sublease ever release
Tenant from any obligation or liability hereunder, except that Tenant shall be
allowed to sublease space to American Telesource International, its parent
company.
12. CASUALTY DAMAGE: The parties hereto mutually agree that if the
Leased Premises are partially or totally destroyed by fire or other casualty
covered by the fire and extended coverage insurance to be carried by Landlord
under the terms hereof, the Landlord may, after thirty (30) days written notice
to Tenant, at its option, repair and restore the Leased Premises as soon as it
is reasonably practicable, to substantially the same condition in which the
Leased Premises were before such damage, or it may terminate the Lease;
provided, however, that in the event the Leased Premises are completely
destroyed or so badly damaged that repairs cannot be commenced within thirty
(30) days and completed within six (6) months thereafter, then this Lease shall
be terminable as of the date of the occurrence of the damage or destruction, by
either party hereto by serving written notice upon the other; and provided
further, that in any event if repairs have not been commenced within thirty (30)
days from the date of said damage and thereafter completed within a reasonable
time, in no case to exceed six (6) months, this Lease may be immediately
terminated by
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Tenant as of the date of occurrence of the damage or destruction by serving
notice upon the Landlord.
In the event the Leased Premises are completely destroyed or so
damaged by fire or other casualty covered by the fire and extended coverage
insurance to be carried by Landlord under the terms hereof that it cannot
reasonably be used by Tenant for the purposes herein provided and this Lease is
not terminated as above provided, then there shall be a total abatement of rent
until said Premises are made usable. In the event the Leased Premises are
partially destroyed or damaged by fire or other hazard so that such Premises can
be only partially used by Tenant for the purposes herein provided, then there
shall be a partial abatement in the rent corresponding to the time and extent
which such Premises cannot be used by Tenant.
If the Premises shall be damaged by fire or other casualty resulting
from the fault or negligence of Tenant, or the agents, employees, licensees,
invitees of Tenant, such damage shall be repaired by and at the expense of
Tenant under the direction and supervision of Landlord, and rent shall continue
without abatement.
13. DEFAULT BY TENANT: If Tenant shall make default in any covenant or
agreement to be performed by it and if after written notice from Landlord to
Tenant (except for a default caused by the nonpayment of rent as set forth in
Paragraph 4 hereof, for which no notice is required) such default shall continue
for a period of ten (10) days or if the leasehold interest of Tenant shall be
taken on execution or other process of law or if Tenant shall petition under any
provision of the Bankruptcy Act of the United States or be declared to be
insolvent according to law, then and in any of said cases, the Landlord may
immediately or at any time thereafter, without further notice or demand, enter
upon and into said premises or any part thereof and take absolute possession of
the same fully and absolutely without such re-entry automatically working a
forfeiture of the rents to be paid and the covenants to be performed by Tenant
for the full term of this Lease and at the Landlord's election, Landlord may
either lease or sublet such premises or any part thereof on such terms and
conditions and for such rents and for such time as the Landlord may reasonably
elect and, after crediting the proceeds of any rent actually collected by
Landlord from such reletting on the rentals stipulated to be paid under this
Lease by Tenant, collect from Tenant any balance remaining due on the rent
reserved under this Lease, or Landlord may declare this Lease forfeited and may
take full and absolute possession of said Premises free from any subsequent
rights or obligations of Tenant, or at the option of Landlord, the entire rent
for the balance of the term shall at once become due and payable, as if by the
terms of this Lease it were all payable in advance. In the event of such
default and reletting by Landlord, Tenant agrees to pay all costs of refinishing
and all costs of reletting the Premises.
All remedies herein given Landlord, including all those not set forth
but provided by law, shall be cumulative, and the exercise of one or more of
such remedies by Landlord shall not exclude the exercise of any other consistent
remedy, nor shall
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any waiver by Landlord, express or implied, of any breach of any term, covenant
or condition hereof be deemed a waiver of such term, condition or covenant, or
of any subsequent breach of the same or any other term, covenant or condition
hereof. Acceptance of rent by Landlord from Tenant or any assignee, sub-essee or
other successor in interest to Tenant, with or without notice, shall never be
construed as a waiver of any breach of any term, condition or covenant of this
Lease. Failure of Landlord to declare any default upon occurrence thereof or
delay in taking action with respect thereto shall not waive such default, but
Landlord shall have the right to declare such default at any time and take such
action as may be authorized hereunder, in law or equity, or otherwise.
In addition to the payment of the rentals and the late payment charge
as provided herein, Tenant agrees to reimburse Landlord for all expenses
incurred by Landlord in effecting enforcement of these Lease provisions, Lease
termination, or re-entry and in securing possession of the Premises, including
attorney's fees (whether suit is filed or not) and court costs. In the event of
a money judgment, attorney's fees shall be a minimum of 10% of recovery and a
maximum of 15% thereof.
14. PERSONAL LIABILITY: Neither the shareholders, officers, directors,
trustees, individuals or partners comprising Landlord, nor the shareholders (nor
any of the partners comprising same), directors, trustees, officers or partners
of any of the foregoing (collectively, the "Parties") shall be liable for the
performance of Landlord's obligations under this Lease. Tenant shall look
solely to Landlord to enforce Landlord's obligations hereunder and shall not
seek any damages against any of the Parties. The liability of Landlord for
Landlord's obligations under this Lease shall not exceed and shall be limited to
the value of Landlord's interest in the Building and the land on which the
Building and the land is situated and Tenant shall not look to the property or
assets of any of the Parties in seeking either to enforce Landlord's obligations
under this Lease or to satisfy a judgment for Landlord's failure to perform such
obligations.
15. HAZARD INSURANCE: Landlord shall maintain fire and extended coverage
insurance on the portion of the Building constructed by Landlord, including
additions and improvements by Tenant which are required to be made by Tenant by
this Lease and which have become or are to become the property of Landlord upon
vacation of the Leased Premises by Tenant. Said insurance shall be maintained
with an insurance company authorized to do business in Texas, in amounts desired
by Landlord and at the expense of Landlord and payments for losses thereunder
shall be made solely to Landlord. Tenant shall maintain, at its expense, fire
and extended coverage insurance on all of its personal property, including
removable trade fixtures, located in the leased Premises, and on all additions
and improvements made by Tenant and not required to be insured by Landlord
above. If the annual premiums to be paid by Landlord shall exceed the standard
rates because Tenant's operations, contents of the Leased Premises, or
improvements with respect to the Leased Premises are beyond
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building standard, result in extra-hazardous exposure, Tenant shall promptly pay
the excess amount of the premium upon request by Landlord.
Anything in this Paragraph to the contrary notwithstanding, Landlord
and Tenant each hereby waives any and all rights of recovery, claim, action or
cause of action, against the other, its agents, officers, or employees, for any
loss or damage that may occur to the Leased Premises or any improvements
thereto, or any personal property of such party therein, by reason of fire, the
elements, or any other cause which could be insured against under the terms of
standard fire and extended coverage insurance policies, regardless of cause or
origin, including negligence of the other party hereto, its agents, officers, or
employees, and covenants that no insurer shall hold any right of subrogation
against such other party.
16. LIABILITY INSURANCE: Landlord shall, at its expense, maintain a
policy or policies of comprehensive general liability insurance with the
premiums thereon fully paid on or before due date, issued by and binding upon
some solvent insurance company, such insurance to afford minimum protection of
not less than Five Hundred Thousand Dollars ($500,000.00) combined single limit
in respect to any one occurrence. Tenant shall, at its expense, provide for its
own public liability insurance in a minimum amount of Five Hundred Thousand
Dollars ($500,000.00) combined single limit in respect to any one occurrence.
Such policy of public liability insurance shall provide Contractual Liability
Insurance in favor of Landlord, and Landlord shall be provided with a
certificate indicating that such policy (1) is in force and (2) may not be
cancelled unless Landlord has received not less than thirty (30) days prior
written notice.
17. NON-WAIVER: Neither acceptance of rent by Landlord nor failure by
Landlord to complain of any action, non-action or default by Tenant, whether
singular or repetitive, shall constitute a waiver of any of Landlord's rights
hereunder. Waiver by Landlord of any right for any default of Tenant shall not
constitute a waiver of any right for either a subsequent default of the same
obligation or any other default. No act or things done by Landlord or its agent
shall be deemed to be acceptance of surrender of the Leased Premises and no
agreement to accept a surrender of the Leased Premises shall be valid unless it
is in writing and signed by a duly authorized officer or agent of Landlord.
18. HOLD HARMLESS: The Tenant will indemnify Landlord for, and hold
Landlord harmless from and against all fines, suits, claims, demands,
liabilities and actions (including costs and expenses of defending against such
claims) resulting or alleged to result from any breach, violation or non-
performance of any covenant or condition hereof or from the use or occupancy of
the Leased Premises, by Tenant or Tenant's agents, employees, licensees, or
invitees. Landlord shall not be liable to Tenant or Tenant's agents, employees,
licensees, or invitees, for any damage to person or property resulting from any
act or omission or negligence of any co-tenant, visitor or
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other occupant of the building except as Landlord's own negligence may
contribute thereto.
19. CONDEMNATION: In the event the building, Leased Premises, or any
portion thereof shall be taken or condemned in whole or in part for public
purposes, then the term of this Lease shall, at the option of the Landlord,
forthwith cease and terminate, and the Landlord shall receive the entire award
for land and building. In the event Landlord does not terminate as herein
provided, there shall be a proportionate reduction in rent.
20. RULES AND REGULATIONS: Such reasonable rules and regulations
applying to all tenants in the building as may be hereafter adopted by Landlord
for the safety, care and cleanliness of the Premises and the preservation of
good order thereon, are hereby made a part hereof and attached as Exhibit "C"
and Tenant agrees to comply with all such rules and regulations. Landlord shall
have the right at all times to change such rules and regulations or to amend
them in any reasonable manner as may be deemed advisable by Landlord, all of
which changes and amendments will be sent by Landlord to Tenant in writing and
shall be thereafter carried out and observed by Tenant.
21. ASSIGNMENT BY LANDLORD: Landlord shall have the right to assign or
transfer, in whole or in part, every feature of its right and obligations
hereunder and in the building and Leased Premises. Such assignments or
transfers may be made to a corporation, trust, trust company, individual or
group of individuals, and howsoever made shall be in all things respected and
recognized by Tenant.
22. SEVERABILITY: This Lease Agreement shall be construed in accordance
with the laws of the State of Texas. If any clause or provision of this Lease
is illegal, invalid, or unenforceable, under present or future laws effective
during the term hereof, then it is the intention of the parties hereto that the
remainder of this Lease shall not be affected thereby, and it is also the
intention of both parties that in lieu of each clause or provision that is
illegal, invalid or unenforceable, thereby added as part of this Lease a clause
or provision as similar in terms to such illegal, invalid or unenforceable
clause or provision as may be possible and be legal, valid and enforceable.
23. SIGNS: No signs of any kind or nature, symbol or identifying ▇▇▇▇
shall be put on the building, in the halls, elevators, staircases, entrances,
parking areas or upon the doors or walls, whether plate glass or otherwise, of
the Leased Premises nor within the Leased Premises so as to be visible from the
public areas or exterior of the building, without prior written approval of
Landlord. All signs or lettering shall conform in all respects to the sign
and/or lettering criteria established by Landlord. Tenant's name shall be
placed on Tenant's door and on the Building directory. (See paragraph 4 on page
10.)
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24. SUCCESSORS AND ASSIGNS: The Landlord and Tenant agree that all
provisions hereof are to be construed as covenants and agreements as though the
words imparting such covenants were used in each separate paragraph hereof, and
that, except as restricted by the provisions of the section entitled "Subletting
and Assigning" hereof, this Lease Agreement and all the covenants herein
contained shall be binding upon the parties hereto, their respective heirs,
legal representatives, successors, and assigns.
25. HOLDING OVER: In the event of holding over by Tenant after the
expiration or termination of this Lease, such hold over shall be as a Tenant at
will and all of the terms and provisions of this Lease shall be applicable
during such period, except that Tenant shall pay Landlord as rental for the
period of such hold over an amount equal to twice the rent which would have been
payable by Tenant had such hold over period been a part of the original term of
this Lease, and Tenant's receipt of notice from Landlord to vacate said
Premises. The rental payable during such hold over period shall be payable to
Landlord on demand. No holding over by Tenant, whether with or without consent
of Landlord, shall operate to extend this Lease except as herein provided.
26. ENTIRE AGREEMENT: This instrument and any attached addenda or
exhibits by the parties constitute the entire agreement between Landlord and
Tenant; no prior written or prior contemporaneous oral promises or
representations shall be binding. This Lease shall not be amended, changed or
extended except by written instrument signed by both parties hereto. Paragraph
captions herein are for Landlord's and Tenant's convenience only, and neither
limit nor amplify the provisions of this instrument. Tenant agrees, at
Landlord's request, to execute a recordable Memorandum of the Lease Agreement.
27. NOTICES: Whenever in this Lease it shall be required or permitted
that notice or demand be given or served by either party to this Lease to or on
the other, such notice or demand shall be given or served and shall not be
deemed to have been given or served unless in writing and delivered personally
or forwarded by Certified or Registered Mail, postage prepaid, addressed as
follows:
To the Landlord: ▇▇▇▇ ▇. ▇▇▇▇▇ and Associates
▇▇▇ ▇▇▇▇ ▇▇▇▇ - ▇▇▇▇▇ ▇▇▇
▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇
To the Tenant: Globalscape Inc.
▇▇▇ ▇▇▇▇ ▇▇▇▇ - ▇▇▇▇▇ ▇▇▇
▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇
Such addresses may be changed from time to time by either party by
serving notices as above provided.
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28. PARKING: For no rental in addition to that provided elsewhere in
this Lease, Landlord also hereby leases to Tenant and Tenant also hereby leases
from Landlord for the term of this Lease Agreement, covered parking spaces in
the parking lot for the subject office building, which parking spaces shall be
reserved and assigned to Tenant by number designations (or some other system)
clearly visible to the public.
29. TENANT IMPROVEMENTS: Tenant may remove its trade fixtures, office
supplies and movable office furniture and equipment not attached to the building
provided: (a) such removal is made prior to the termination of the term of this
Lease; (b) Tenant is not in default of any obligation or covenant under this
Lease at the time of such removal; and (c) Tenant promptly repairs all damage
caused by such removal. All other property at the Leased Premises and any
alterations or additions to the Leased Premises (including wall-to-wall
carpeting, paneling or other wall covering) and any other article attached or
affixed to the floor, wall or ceiling of the Leased Premises shall become the
property of Landlord and shall remain upon and be surrendered with the Leased
Premises as a part thereof at the termination of this Lease by lapse of time or
otherwise, Tenant hereby waiving all rights to any payment or compensation
therefor. If, however, Landlord so requests in writing, Tenant will, prior to
termination of this Lease, remove any and all alterations, additions, fixtures,
equipment and property placed or installed by it in the Leased Premises and will
repair any damage caused by such removal.
Notwithstanding anything herein contained in this Lease Agreement to
the contrary, Tenant shall be permitted to remove any and all furniture, ceiling
fans, draperies, file and storage cabinets and shelves which he installs and/or
attaches to the Leased Premises (excepting those that may be provided by
Landlord). It is agreed, however, that Tenant shall be responsible for repairing
all damages caused by any such removal.
30. BROKER'S COMMISSION: Landlord agrees to pay to undersigned Principal
Broker a brokerage fee for negotiating this Lease Agreement of six percent (6%)
of the total gross rental. The brokerage fee shall be paid 50% at the time the
written Lease Agreement is executed by both the Owner and Tenant and the
remaining 50% shall be paid when Tenant occupies the property.
31. BUILDING IMPROVEMENTS: Landlord agrees to provide, at Landlord's
cost, the following:
(a) New carpet of Building Standard Quality throughout the Leased
Premises;
(b) Blinds of Building Standard Quality for each exterior window
opening;
(c) Repaint textured walls and wallpaper walls selected throughout the
Leased Premises.
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32. EXHIBITS: The following numbered exhibits are attached hereto and
incorporated herein and made a part of this Lease for all purposes:
(a) Exhibit "A," Floor Plan of Suite
(b) Exhibit "B," Basic Costs
(c) Exhibit "C," Building Rules and Regulations
(d) Exhibit "D," Legal Description of Lease Premises
(e) Exhibit "E," Reserved Parking Site Plan
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IN WITNESS WHEREOF, Landlord and Tenant have executed this lease in
multiple original counterparts as of the 7th day of January, 1998.
LANDLORD: ▇▇▇▇ ▇. ▇▇▇▇▇ and Associates
Agent for the Owners of the Circle Bar
▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇
-----------------------------------------
Title: OWNER
--------------------------------------
TENANT: Globalscape Inc.
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇▇▇▇▇
-----------------------------------------
Title: PRESIDENT
--------------------------------------
REALTORS: Aegis Realty Group, Inc.
Principal Broker
By:
-----------------------------------------
Title:
--------------------------------------
CO-OPERATING BROKER:
Providence Commercial
Real Estate Services
By:
-----------------------------------------
Title:
--------------------------------------
*NOTE: If this Lease Agreement is negotiated by Principal Broker in
cooperation with another Broker, Landlord shall be liable for payment of all
commissions to Principal Broker only, whereupon it shall be protected from any
claims from said Cooperating Broker.
THIS IS A LEGALLY BINDING CONTRACT, AND BROKER ADVISES LANDLORD AND TENANT TO
SEEK LEGAL ADVICE.
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