HomeMy WebLinkAboutC2011-031 - 1/6/2011 - NA04/12/2004 04'x03 8055260889 2ACH HORNBUdKLE 'PAGE '01
t
TEXAS Assocj OF REA1TORS
COMMERCIAL LEASE ADDENDUM FOR E XTE NSIO N O F TERM
V$@ OF THIS FORM AY pJ AWw ww me NOT MtMh0h8 Or tHII T&W ASSOC1AtiON OF REULTORam Ig NAT AViHOAlzao,
�il xelAs .acl '
ADDENDUM TO THE COMMEk,CIAL LE 8E BETWEEN THE UNDERSIQNEI? p�t�TIES CpN�RN2NC�,THE_
LEASED PREMISES AT 1` 7-1 11t'w &"T`r .J d /r ate OLle LL n crr�
A, At Tenant's eptloh''enant may extend the term Of above - referenced tease for a _Z term(s) of he each.'Thel,flrst additional term commences upon p e.ex r,aticn of th ter
ion
stated In the ease and any subsequent additional term commences upon the expiretioty
a of the then
opllcaNe extended term,
B. Tenanj may exercise Tenant's optlon(s) to extend under Paragraph A only by providing written notice to
Landlord at least days before the end of the then Curreht term of the lease,
C, Tenant may not exercise Tenant's 0010n(a) to extend under Paragraph A If the lease Is terminated before
Tenant exercises Its option to extend or Tenant Is In breaoh of the lease at the time Tenant exercises Its
option to extend.
D. During 'the additional term(s), all provlslans of the lease will Continue as In effect Immediately before the
extenslon(s) commences except the base Mdrithly rent during the additional term(s) will be;
(Check (1), (2) or (3) anly.)
'( )
C
C
(2) aatustea to reflect increases in the Consumer Prioe Index for 'All Urban consumers, US. City average,
All Items ", Issued 1> the Bureau of Labor S tatistlr s of the U,$, Department of Labor, the adjustment will
be determined by multiplying the base monthly rent for the last month of the lease b
traction (1) the numerator will be the publl$hed Index number for January In the trasar th y� ,following
C^„ riYii3:.es; and (,i) the denominator wiii be the published Index number for January In the year In which
the original lease term commenoes,
(3) the prevailing rental rate on the 45th day before the addltional term commences for premises of
comparable size, quality, condition, Improvements, utility, location, and length of term for tenant's of
siml€ar credit standing as Tenant,
E. If paragraph 0(3) applles and the part€es do not area on the mount of the Prevailing rental rate for the
additional term before the 30th day bet'ore -the additional tam commences, each party will employ a
state - certified appralser and deliver the appraiser's written cplAion of the prevalldng rental rate to the other
(TAR -2144) 1.26.10 Inillaled for 1dON1 by Landlord,
PrvdMLW Reel Ewa center 14200 $ouch padre Island Drive CgFyu1 Christl 3'x 78418 grid Tenant! Page 1 of 2
Niwna:361- 443 -0M FAX: 361-N9.7233 MlahaltTahnoton
ProduCod with ZlpFnrrrt4� by ztpt ogtx lgpTO Ylttaan Milo Rea d Fraser, Mlonl8an 44028 svww�sai -� gtitlad
2011 -031
01/06/11
Walker, William Dennis III
INDEX ED
04/12/2804 , 0 3.03 8055260889 ZACH HORNBUCKLE PAGE 0 '.
Addendum for Extenslpn tlptian conoeming 1 T v�► 5 j
party not Inter then the 16 day before tho . ad dift al term com If the apprai opinions -do not
vary by more than 10% the prevaliitlg rental rater will be the.sverage.of the two opinlons, if the appraisers
opinions vary bymor than 103!x, the appralsers'will olntiy'seii�ot a third appraiser whose foes will be shared
equally-by the parties, If a third approlear is "engMs the pravalling rental rate W11 be the average of the two
opinions that are closast In amount: If either pa�{y falls to, employ or timely deliver en appraiser's opinlon as
required by this paragraph, the opinion rendered by. the appraiser employed by the other party will determine
the prevalling rental rats,
F, SrieclAl Proyf 1,RI1� '
' [l
(G)g Commercial Lease Agreement is hereby amended as follows;
Section 8.A(1) deleted In its entirety,
ff�
Land3ord• �
Ede 0
(.: /d .
By (signature) By (el eture):
Printed Nam .r+ AI Pfint d Na
Tfite: N �w*.o Title- e
By (signature): By (6lgnaturey
Printed Naive. Printed Nana;
71tte: Title: :. . ZVA