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EXHIBIT 10.8.4
SECOND AMENDMENT TO LEASE
THIS SECOND AMENDMENT TO LEASE (the "Agreement") is made and entered into this
12 day of August 1996, by and between SYMPHONY XXXXX LIMITED PARTNERSHIP
("Landlord"), and CREDIT MANAGEMENT SOLUTIONS, INC. ("Tenant").
WITNESSETH:
WHEREAS, Landlord and Tenant have previously entered into a lease agreement
dated February 10, 1995, as amended by the First Amendment to lease dated March
29, 1995 (collectively, the "Lease") for the use and occupancy of certain
premises by Tenant commonly known as Suites 301, 305, 310, 316 and 100
(collectively, the "Demised Premises") in the building located at 0000 Xxxxxxxx
Xxxxx Xxxx, Xxxxxxxx, Xxxxxxxx (the "Building"); and
WHEREAS, Landlord and Tenant do hereby intend to amend and modify the Lease as
hereinafter set forth.
NOW, THEREFORE, in consideration of the mutual covenants and conditions
contained herein, the receipt and sufficiency of which is hereby acknowledged,
the parties hereto agree as follows:
1. Expansion Space. Effective September 1, 1996 (the "First Expansion Space
Commencement Date"), Suite 204, comprising approximately 1,170 rentable
square feet in the Building, on the area indicated on the site plan as
shown on Exhibit A, which is attached hereto and incorporated herein, (the
"Expansion Space") shall be added to the Demised Premises so that as of
the First Expansion Space Commencement Date, the Demised Premises shall
consist of approximately 15,435 rentable square feet. Tenant's occupancy
of the First Expansion Space shall be subject to all of the general terms
and conditions contained in the Lease.
Effective as of November 1, 1996 (the "Second Expansion Space Commencement
Date"), Suite 311, comprising approximately 1,250 rentable square feet and
Suite 318, comprising approximately 807 rentable square feet in the
Building, in the areas indicated on the site plan as shown on Exhibit "B",
which is attached hereto and incorporated herein (collectively, the
"Second Expansion Space") shall be added to the Demised Premises so that
as of the Second Expansion Space Commencement Date, the Demised Premises
shall consist of approximately 17,492 rentable square feet. Tenant's
occupancy of the Second Expansion Space shall be subject to all of the
general terms and conditions contained in the Lease.
2. Rental. The Basic Rental for the Demised Premises, including the First
and Second Expansion Spaces shall be payable in advance, in accordance
with the provisions of the Lease, in monthly installments as follows:
Lease Period Monthly Basic Rental
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September 1, 1996 - October 31, 1996 $21,553.35
November 1, 1996 - December 31, 1996 $24,553.14
January 1, 1997 - February 28. 1997 $24,578.34
March 1, 1997 - August 31, 1997 $24,914.79
September 1, 1997 - December 31, 1997 $25,060.00
January 1, 1998 - February 28, 1998 $25,085.21
March 1, 1998 - August 31, 1998 $25,421.67
September 1, 1998 - November 30, 1998 $25,566.89
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Tenant's Prorata Share of Operating Expenses and Taxes, as set forth in
the Lease, shall be increased to 16.6% as of the First Expansion Space
Commencement Date and 18.8% as of the Second Expansion Space Commencement
Date. Tenant's security deposit shall be increased to $21,553.35 on the
First Expansion Space Commencement Date and to $24,553.14 on the Second
Expansion Space Commencement Date.
3. Tenant Improvements. Landlord agrees to contribute an amount of money
calculated at $0.105 per rentable square foot of each of the Expansion
Spaces, multiplied by the number of months remaining in the Lease Term, as
extended hereby, as of the respective Expansion Space Commencement Dates
(the "Tenant Allowance") towards the cost of constructing certain tenant
improvements (the "Tenant Improvements") for the First Expansion Space and
the Second Expansion Space in accordance with the space plan (the "Plan")
to be approved by both Landlord and Tenant within 10 days of the date of
execution of this Agreement. It is understood and agreed that Landlord's
contractors shall perform the work in connection with the Tenant
Improvements. Landlord shall bid the construction contract to no less
than three (3) unaffiliated general contractors; provided, however, such
contractors shall be reputable, properly licensed to perform the Tenant
Improvement Work and shall maintain the types and amounts of insurance
required by Landlord. If the cost to construct the Tenant Improvements
pursuant to the Plan exceeds the Tenant Allowance as to either or both
Expansion Spaces, then within ten (10) days of Tenant's receipt of an
invoice from Landlord, Tenant shall pay Landlord, as additional rent, by
certified or cashier's check, an amount equal to the difference between
the cost to construct the Tenant Improvements and the Tenant Allowance for
the respective Expansion Space. Tenant agrees it shall not make any
changes to the Plan without obtaining the prior written consent of
Landlord. In the event Tenant shall make changes to the Plan that are
approved by Landlord and which result in an additional cost to Landlord of
completing the Tenant Improvements in excess of the Tenant Allowance for
either or both of the Expansion Spaces, Tenant shall pay to Landlord prior
to construction of such changes, as additional rent, any increase in the
cost of completing the Tenant Improvements in excess of the Tenant
Allowance resulting from such changes in the Plan.
In the event Tenant, its employees or agents, causes any delays or is
otherwise responsible, in whole or in part, for any additional costs in
excess of the Tenant Allowance incurred by Landlord in constructing the
Tenant Improvements (other than additional costs arising due to changes to
the Plan as described above), Tenant shall pay to Landlord within ten (10)
business days of receipt of written notice from Landlord, as additional
rent, any such additional costs in excess of the Tenant Allowance incurred
by Landlord. Tenant's failure to timely pay any such amounts to be paid
by Tenant as set forth in this Article, at the time and in the manner set
forth in this Article, shall be an event of default. If for any reason
(i) either of the Expansion Spaces shall not be ready for occupancy by
Tenant on or before the applicable Expansion Space Commencement Dates, or
(ii) the Tenant Improvements are not completed on or before the applicable
Expansion Space Commencement Dates, the Lease shall not be affected
thereby, nor shall Tenant have any claim against Landlord by reason
thereof. All claims for damages arising out of any such delay are hereby
waived and released by Tenant.
4. No Brokers. Tenant warrants that it has had no dealings with any real
estate broker or agent in connection with the negotiation of this
Agreement and that Tenant knows of no other real estate broker or agent
who is or might be entitled to a commission in connection with this
Agreement. Tenant agrees to indemnify and hold Landlord harmless from and
against all claims made by any broker or finder for a commission in
connection with this Agreement provided that Landlord has not retained
such broker.
5. Release. Tenant expressly acknowledges that it has no, and hereby
releases Landlord from any cause of action, defense, claim or demand of
which Tenant has knowledge, in law or in equity, against Landlord as of
the date hereof, for, upon or by reason of any matter, cause or thing
whatsoever, from the beginning of time to this date, arising out of,
related to or in connection with the Lease, the Demised Premises or the
Building.
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6. Conflict of Terms. Except as expressly amended herein, all terms
and conditions in the Lease shall remain unchanged and in full
force and effect, and all capitalized terms not otherwise defined
herein shall have the meaning set forth in the Lease. In the
event of any conflict between the terms and conditions of the
Lease and the terms and conditions of this Agreement, the terms
and conditions of this Agreement shall control.
LANDLORD: TENANT:
SYMPHONY XXXXX LIMITED PARTNERSHIP, CREDIT MANAGEMENT SOLUTIONS, INC.
an Illinois limited partnership
By: Symphony Xxxxx Partners, Inc.,
an Illinois corporation,
its general partner
By: /S/ XXX XXXXXX By: /s/ XXX XXXXXXXXXXX
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Its: Vice President Its:
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Witness: Witness:
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Date: Date: 8/12/96
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ADDENDUM
This Addendum shall be attached to and made a part of the Second
Amendment to Lease made by and between Symphony Xxxxx Limited Partnership and
Credit Management Solutions, Inc. dated 8/12/96.
The following is a schedule of the rental rates for the respective
suites of the Demised Premises, as expanded by the Second Amendment to Lease:
Xxxxx Xxxxxx Xxxxx Xxxxx Xxxxxx
000 301/305 310 316 204/311/318
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9/l/97 - 12/31/96 17.00 16.50 17.00 16.50 17.50
1/l/97 - 2/28/97 17.00 16.50 17.00 17.00 17.50
3/l/97 - 8/31/97 17.00 17.00 17.00 17.00 17.50
9/l/97 - 12/31/97 17.00 17.00 17.00 17.00 18.04
1/l/98 - 8/31/98 17.00 17.00 17.00 17.50 18.04
3/l/98 - 8/31/98 17.00 17.50 17.00 17.50 18.04
9/l/98 - 11/30/98 17.00 17.50 17.00 17.50 18.58
