PREMISES: |
To be determined at time of lease signing. The actual size will be determined in accordance with Building Owners and Managers Association ("BOMA") standards. |
TERM: |
Five (5) and Ten (10) year terms available |
BASE RENT: |
Starting at $15.00 per rentable square feet net and up. |
ESCALATION: |
Three percent (3%) per annum. |
ALLOWANCE: |
A tenant improvement allowance of $30.00 per useable square feet will be granted to tenants that sign a 10 year lease. |
COMMISSION: |
Tenant represents that tenant has not dealt with any broker
in connection with this offer and agrees to indemnify and hold Bourbonnais Office Park, LLC., harmless from all damages, liability and expense (including reasonable attorneys' fees) arising from any claims or demands of any brokers or finders and for any commission alleged to be due such brokers or finders in connection with their participation in the negotiation with Tenant of this offer. |
RENEWAL: |
Tenant, with twelve (12) months advanced written notice, shall have the right to renew its leasehold for a period of two successive five (5) year terms. |
COMMENCEMENT: |
December 2006 or date of occupancy which is granted by the city, provided a Lease Agreement is properly executed and delivered by all parties no later than August 1, 2006. |
SECURITY DEPOSIT: |
A security deposit equaling the first months rent is due at the time of lease signing. |
FIRST MONTH"S RENT: |
The first month's rent is prorated and due at the time of
occupancy |
REAL ESTATE TAXES: |
2006 Real Estate Taxes are estimated at $2.00 per square foot and anticipated to increase slightly each year thereafter. |
OPERATING EXPENSES: |
2007 operating expenses are estimated at $2.50 per square foot and anticipated to slightly increase each year thereafter. |
TENANT'S INCIDENTAL
ELECTRICITY: |
In addition to rent, tenant will be separately metered for electrical consumption. |
HEATING,
VENTALATION &
AIR CONDITIONING
(HVAC): |
Bourbonnais Office Park will utilize a variable air volume system with computerized controls. |
PARKING: |
The surface parking ratio at the Bourbonnais Office Park is 4.00 per 1000 square feet, offered on a first come first serve basis at no additional charge. |
CLEANING &
MAINTENANCE: |
Landlord will provide, as an operating expense of the building, a cleaning services for all common areas of the building. |
SIGNAGE: |
Landlord shall provide building standard directory signage. |
ACCESS / SECURITY: |
Tenants of Bourbonnais Office Park will enjoy 24 hours a day access. Parking lots and common areas will also be well lighted for security purposes. |
LIFE SAFETY: |
Bourbonnais Office Park will be a fully sprinklered and utilize a state-of-the-art smoke and heat detection system complete with smoke evacuation capabilities. |
ADA COMPLAINCE: |
Bourbonnais Office Park will be in compliance with the American Disabilities Act (ADA). |
RESERVATION
of PREMISES: |
This "Proposal" constitutes the entire agreement between the parties hereto with respect to the subject matter contained herein and supercedes all prior offers, letters of intent, proposals, agreements and understandings of any kind of nature whatsoever, written or oral, expressed or implied, and neither party has, nor shall any party make, any claim or pursue any action based on any such offer, letter of intent, proposal, agreement, and understanding.
This "Proposal" of suggested business terms is being submitted to Tenant solely for its review and acceptance as a basis for further negotiations of a mutually acceptable lease agreement. The submission of the "Proposal" does not constitute an offer to enter into a lease or an agreement by Landlord to cease any efforts to market and lease the subject premises to third parties. Any lease shall become effective only upon execution and delivery thereof by both Landlord and Tenant. Landlord reserves the right to modify or withdrawal this "Proposal" without notice at any time up to the execution and delivery of a formals lease agreement to both parties. |