Construction by Landlord. (a) Landlord shall commence and pursue the work shown on the Scope of Landlord’s Work (the “Landlord’s Work”). A site plan of the Improvements is attached hereto as Exhibit E. All such work shall be performed in a good and workmanlike manner and in accordance with all governmental permits required and/or issued therefor. Until the Turnover Date, Landlord shall bear the risk of loss with respect to the Improvements. The Landlord’s Work shall be performed in compliance with applicable laws and substantially in accordance with the plans and specifications prepared by Xxxxxxxx-Xxxxxxx Architects, Inc. (the “Architect”) and derived from the Scope of Landlord’s Work (the “Construction Plans”). Landlord shall submit the Construction Plans to Tenant for Tenant’s review and approval, such approval not to be unreasonably withheld, conditioned or delay. If Tenant fails to approve or to make objections to the Construction Plans within five (5) business days after receipt thereof, then Tenant shall be liable for Tenant Delay and if Tenant has not approved or made objections to the Construction Plans within thirty (30) days after receipt thereof, then such Construction Plans shall be deemed approved by Tenant. Furthermore, Tenant shall not have the right to object to any portion of the Construction Plans which are a reasonable, but not a material deviation from the Scope of Landlord’s Work. In the event of any conflict between the Construction Plans and the Scope of Landlord’s Work, the Scope of Landlord’s Work shall control. Landlord shall perform all of the Landlord’s Work at its sole cost and expense, except for Tenant Changes.
Construction by Landlord. 4 Plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Construction by Landlord. 6 SECTION 5.02 CHANGES AND ADDITIONS BY LANDLORD ...................... 6 SECTION 5.03
Construction by Landlord. Landlord will construct the Building in which the Premises are to be located. The Premises shall be constructed substantially in accordance with Outline Specifications entitled "Landlord's Work" marked Exhibit "C" attached hereto and made a part hereof. it is understood and agreed by Tenant that no minor changes which do not impair Tenant's efficient business use of the Leased Premises from any plans or from said Outline Specifications made necessary during construction of the Premises or the Building shall affect or change this Lease or invalidate same.
Construction by Landlord. The provisions of this Section 24.03 shall apply only in the event of Construction by Landlord. Landlord shall promptly commence construction of the New Improvement and diligently pursue such construction to prompt completion, at Landlord’s sole cost and expense. In the event that Landlord seeks to obtain financing for construction of the New Improvement but is unable to do so within ninety (90) days of receiving plans and specifications for the New Improvement from Tenant (provided that if Landlord begins seeking financing within thirty (30) days of receiving plans and specifications and works diligently to obtain financing thereafter, then such ninety (90) day period shall be extended to one hundred twenty (120) days), then Landlord may elect to proceed with Construction by Tenant instead, by notifying Tenant in writing of such election on or before the last day of such period. Upon the date of occupancy of the New Improvement, the parties shall modify this Lease to (i) include the New Improvement as part of the Premises and (ii) increase the Monthly Base Rent amount payable by an amount equal to 0.75% (i.e., 9% annually, divided by 12 months) multiplied by Landlord’s total construction costs for the New Improvement (which costs shall include hard and soft costs, costs relating to obtaining necessary permits and zoning approvals, reasonable legal fees, building fixtures and furnishings, construction period interest, real estate taxes and sewer and water charges and utilities, design and engineering and other "pre-development costs" and construction period professional management and supervision fees). By way of example, if Landlords total construction costs for a New Improvement were $10,000,000, then the additional Monthly Base Rent would be $75,000 (($10,000,000*9.0%)/12 months = $75,000). The additional Monthly Base Rent resulting from a New Improvement will continue to increase over the Term in accordance with Section 5.06 hereof. The amount of the Security Deposit shall proportionately increase as a result of any increase in the Monthly Base Rent pursuant to this Section 24.03. For the avoidance of doubt, there will not be any additional increase in the Monthly Base Rent due to an increase in the value of the Land that is already part of the Premises.
Construction by Landlord. Landlord shall not perform any work to the Premises. Tenant shall accept the Premises in as-is condition.
Construction by Landlord. (a) Landlord shall construct and do such other work (collectively, the “Landlord’s Work”) in substantial conformity with the plans and outline specifications of the plan “SK-1” prepared by Pxxxxxxxx Architects Inc. dated May 8, 2006, which have been initialed by the parties, and which are herein incorporated by reference. Prior to the Possession Date, Landlord shall power wash the Building at its sole cost and expense.
Construction by Landlord. 12 4.1 Landlord's Duty to Construct Improvements.....................................12 4.2
Construction by Landlord. (A) Landlord shall construct, at Landlord’s sole cost and expense, the interior of the Premises in accordance with the Project Outline Specifications and floor plans (the “Tenant Plans and Specifications”) attached hereto as Exhibit “C” (“Tenant Work”). Landlord will deliver the Premises to Tenant in good condition with all improvements therein and all systems and equipment serving the Premises in good working order and in compliance with all applicable laws.
Construction by Landlord. Tenant agrees to take space “as is” with no further work, to be done by Landlord.
