FIFTH AMENDMENT TO LEASE. _.7This FIFTH AMENDMENT TO LEASE ( Fifth Amendment ) is made effective as of the RECITALS:
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1 0 FIFTH AMENDMENT TO LEASE _.7This FIFTH AMENDMENT TO LEASE ( Fifth Amendment ) is made effective as of the 3 / day of May, 2016 (the Effective Date ) between WCPRT COLONIAL PROMENADE LLC, a Delaware limited liability company ( Landlord ), and T-MOBILE SOUTH LLC. a Delaware limited liability company (Tenant ). RECITALS: A. Landlord s predecessor-in-interest, LW-SS P2-L. P., and Tenant s predecessor-in interest, APT Tampa/Orlando. Inc., entered into that certain Lease dated May 1, Lease ), as amended by that First Lease Amendment between CREC Colonial Promenade Shopping Center, Ltd. ( CREC ) and Tenant dated November 29, 2007 ( First Amendment ), Second Lease ( Original Amendment between CREC and Tenant dated May 27, 2008 ( Second Amendment ), Third Lease Amendment between CREC and Tenant dated April ( Third Amendment ), and Fourth Amendment to Lease Agreement between Landlord and Tenant dated July 31, 2014 ( Fourth Amendment ) (collectively the Lease ) for the lease of certain premises containing approximately 10,711 square feet in area (the Premises ) in that certain shopping center located in Orlando, Florida, and commonly known as Colonial Promenade Shopping Center (the Shopping Center ) for a lease term (the Term ) expiring on July 31, 2016: B. Landlord acquired title to the Shopping Center and succeeded to the interest of the landlord under the Lease; C. Tenant succeeded to the interest of the tenant under the Lease; and D. Landlord and Tenant now desire to modify the terms of the Lease in the manner and on the terms and conditions set forth in this Fifth Amendment as of the Effective Date. AGREEMENT: In consideration of the mutual promises and covenants contained herein, and for other good and valuable consideration, Landlord and Tenant agree that the Lease is modified as of the Effective Date as follows: 1. Definitions and Recitals. All capitalized terms used in this Fifth Amendment shall have the same meaning as set forth in the Lease, unless otherwise defined in this Fifth Amendment. The Recitals are incorporated into and made a part of this Fifth Amendment by this reference. 2. Term. The Term of the Lease is hereby extended for one (1) additional period of two (2) years (the Extended Term ) commencing August 1, 2016 and expiring July 31, 2018 (the Expiration Date ) under all the same terms, covenants, and conditions of the Lease, except as expressly modified in this Fifth Amendment. From and after the date hereof, the words Term or Term of Lease as used and defined in the Lease, as amended hereby, shall mean the initial Term, as previously extended and as extended through July pursuant to this Fifth Amendment. The Annual Rent for the Extended Term shall be as set forth in paragraph 4 below. 3. ELectronic Payments. Unless prohibited by law, Tenant will issue all payments for Rent and other charges under the Lease to Landlord electronically through Tenant s electronic payment system. Landlord, at no cost to Landlord, wilt enroll in Tenant s electronic payment system
2 in order to receive any such payments. Landlord will provide a point of contact and follow such reasonable enrollment instructions provided by Tenant to enroll in the electronic payment system. 4. Annual Rent. During the Extended Term. Tenant agrees to pay to Landlord Annual Rent in the manner required under Section 2.1 of the Original Lease in the amounts according to the following schedule: Period Annual Rent Monthly Installment of Annual Rent per Square foot 8/1/16 7/31/18 $l33.8$7.50 $11, $ Additional Rent. During the Extended Term, Tenant shall continue to pay as additional Rent, an amount equal to Tenant s Proportionate Share of CAM (as defined in Section of the Original Lease) and Taxes (as defined in Section of the Original Lease). 6. Taxes. During the Extended Term, Tenant shall continue to pay taxes, including (without limitation) any Florida sates tax on rent, in the manner required under Section 22 of the Original Lease. 7. Tenant s Termination Right. (a) Termination Date. Provided Tenant is not in default under the Lease, as amended hereby, either on the date that Tenant exercises the Termination Option (as defined below) or, unless waived in writing by Landlord, on the Termination Date (as defined below). Tenant shall have the one-time option (the Termination Option ) to terminate the Lease, as amended hereby. without payment of any fee. premium or penalty, effective as of July 31, 2017 (the Termination Date ) by giving Landlord a written notice of Tenant s election to exercise the Termination Option not less than ninety (90) days prior to the Termination Date. (b) Terms. If Tenant timely and properly exercises the Termination Option, (i) all rent owing under the Lease, as amended hereby, shall be paid through and apportioned as of the Termination Date; (ii) neither party shall have any rights, estates, liabilities or obligations under the Lease, as amended hereby, for the period first accruing after the Termination Date, except those which, by the provisions of the Lease, as amended hereby, expressly survive the expiration or termination of the Term, as extended hereby; (iii) Tenant shall surrender and vacate the Premises and deliver possession thereof to Landlord on or before the Termination Date in the condition required under the Lease, as amended hereby, for surrender of the Premises; and (iv) Landlord and Tenant shall enter into a written agreement reflecting the termination of the Lease, as amended hereby, upon the terms provided for herein, which agreement shall be executed within thirty (30) days after Tenant exercises the Termination Option. (c) Termination. The Termination Option shall automatically terminate and become nult and void upon the earlier to occur of (1) the termination of Tenant s right to possession of the Premises; (ii) the assignment of the Lease, as amended hereby, by Tenant, in whole or in part. except for a Permitted Transfer (as defined in Section $ of the First 0$079\ I -2-
3 Amendment); (iii) the sublease by Tenant of the Premises, or any portion thereof; or (iv) the failure of Tenant to timely or properly exercise the Termination Option. 8. Landlord s Termination Right. Section 2 of the Second Amendment shall continue in full force and effect during the Term, as hereby extended, except that effective as of the Effective Date, the last three (3) sentences of said Section 2 shall be deleted from the Lease in their entirety and shall be of no further force or effect. 9. No Renewal Option. Notwithstanding anything to the contrary in the Lease, as amended hereby, Tenant shall have no option or right to further renew or extend the Term of the Lease beyond July Without limiting the foregoing, effective as of the date of this Fifth Amendment, Section 3 of Exhibit D to the Original Lease, Section 7 of the Third Amendment, and Section 3 of the Fourth Amendment, are hereby deleted from the Lease in their entirety and shall be of no further force or effect. 10. Condition of Premises. Except for Landlord s ongoing repair and maintenance obligations under the Lease, no promises of Landlord to alter, remodel, improve, repair, decorate or clean the Premises or the Shopping Center or any part thereof (or to pay for same) have been made, and no representation respecting the condition of the Premises or the Shopping Center, has been made to Tenant by or on behalf of Landlord, Tenant having agreed to retain possession of the Premises on August 1,2016 in their as is condition. 11. Notices. The words T-Mobile South LLCC in Section 9 of the First Amendment are corrected to read T-Mobile South LLC. Landlord and Tenant agree that as of the Effective Date the addresses for notices to Landlord under the Lease, as amended hereby, are as follows: To Landlord: do Wrightwood Financial 300 S. Wacker Drive. Suite 1250 Chicago, Illinois Attention: Beth Linn With a copy to: do The Sembler Company 5858 Central Avenue St. Petersburg. Florida Attn.: Gregory S. Sembler, CEO 12. No Security Deposit. The parties hereby acknowledge and agree that Landlord has refunded any security deposit held by Landlord under the Lease to Tenant in accordance with Section 5 of the Third Amendment and, as of the Effective Date, Tenant does not have any remaining security deposit under the Lease, as amended hereby. 13. Brokers. Each party hereby represents and warrants to the other that it has not dealt with any real estate broker or agent in connection with this Fifth Amendment or its negotiation except for Excess Space Retail Services, Inc. ( Tenant s Broker ), who represents Tenant and whose fees, commissions. and charges shall be paid by Tenant pursuant to a separate written agreement. and The Sembler Company (Landlord s Broker ), who represents Landlord and whose fees, commissions, and charges shall be paid by Landlord pursuant to a separate written agreement. Each party shall indemnify and hold the other harmless from any cost, expense, or liability (including costs of suit and reasonable attorneys fees) for any compensation, commission or fees claimed by any real estate broker or agent, -3-
4 other than Tenant s Broker and Landlord s Broker, in connection with this Fifth Amendment ot its negotiation by reason of any act or statement of the indemnifying party. 14. Counterparts. Electronic Delivery. This Fifth Amendment may be executed in several counterparts, each of which is deemed an original, but all of which together constitute one and the same Fifth Amendment. This Fifth Amendment may be executed and delivered electronically with such signatures being deemed original signatures for purposes of enforcement and construction of this Fifth Amendment. Any party delivering an executed Fifth Amendment electronically shall also deliver an original executed fifth Amendment; provided, however, the failure of a party to deliver an original will not affect the ability of the other party to rely on an electronically executed and/or delivered Fifth Amendment. 15. No Further Modifications; Full Force and Effect; Conflicts. Except as expressly modified in this Fifth Amendment, all other terms and conditions of the Lease are hereby acknowledged by Landlord and Tenant and shall remain in full force and effect. The terms of this fifth Amendment shall control over any other inconsistent terms of the Lease. 16. Approval of Owner and GOAA; Third Party Approval. Notwithstanding anything set forth in the Lease to the contrary, the Lease, as hereby amended, shall be subject to and contingent upon the review by and approval of both the owner of the land on which the Shopping Center has been constructed (the Owner ) and of the Greater Orlando Aviation Authority C GOAA ); provided, however, the Lease, as hereby amended, shalt be deemed approved by the Owner and by the GOAA in the event a notice of disapproval has not been delivered by the Owner and/or the GOAA to Landlord within ten (10) days after submission thereof for approval by Landlord to the Owner and to the GOAA. Except with respect to the foregoing approvals by Owner and the GOAA, Landlord represents and warrants to Tenant that the consent or approval of no other third party, including, without limitation, a lender, is required with respect to the execution of this Fifth Amendment, or if any such third party consent or approval is required, Landlord will prior to its execution of this Fifth Amendment have obtained any and all such consents or approvals Limitation of Landlord s Liability. The terms and provisions of Section 39 of the Original Lease remain in full force and effect, and are incorporated herein by this reference. 18. Executory Authority. Landlord and Tenant each have the authority to enter into this Fifth Amendment and bind such party to the terms hereof LSIGNATURE PAGE FOLLOWSI I 0$079\
5 C IN WITNESS WHEREOF, the parties have executed this Fifth Amendment to be effective as of the Effective Date. Witnesses: Sign Name: Print Name )t%,&t 4J LANDLORD: WCPRT COLONIAL PROMENADE LLC, a Delaware limited liability cornpany Sign Name Print Name: -rvvv(s Mt7Lr Print Name: Title: Chief Executive Officer Witnesses: TENANT: T-MOBILE SOUTH LLC, a Delaware limited liability company Sign Name: Print Name: Title: MartIn Jenkins Sr. Director Retail Store Development & Plarmmg _2 DOC 5-
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