World Trade Center records folder, 2001

NYC 9/11 Public Portal Document

If Partial Termination Option does not include Retail Space, then Landlord may substitute Retail Space as a substitute surrender space. Landlord will not designate portions of Retail Space which would unduly disrupt Tenant's operations in Tenant's reasonable judgment. Landlord will relocate Retail Space, at its sole cost and expense, to designated surrender space which will be contiguous to Demised Premises.

EXPENSE The Operating Expense Base shall be the first 12-month period. ESCALATION: after Substantial Completion date. Landlord may bill on estimated (Art. 4, Pg. 16) basis. Tenant Share is 100%. Operating Expenses and Operating Expense Base shall be adjusted to 100% occupancy.

TAX Tenant shall reimburse the Landlord its percentage share (100%) of ESCALATION: any increase in real estate tax assessment and sewer rents over the (Art. 4.9, Pg. 30) real estate taxes for the base fiscal year 1997/1998.

AUDIT: Within 18 months of receipt of any Operating Expense Statement or (Art. 4.11, Pg. 35) Tax Statement, Tenant has the right to examine, copy and audit Landlord's books and records. Within 180 days after the records are made available to Tenant, Tenant may send notice to Landlord that it disputes the billing. If Tenant fails to deliver a Tenant's statement, Operating Expense Statement or Tax Statement shall be conclusive and binding. Tenant may seek remedies at Law to settle the dispute within 60 days of delivery of its notice to Landlord.

LANDLORD'S WORK: Landlord shall perform Initial Alterations and deliver space to (Art. 6, Pg. 3S) Tenant in Phases as follows.

Phase I - Lobby, Mezzanine, 2, 4, 5, 14, including LAN Room on 14. Phase 11-7,8,9,10, 11 Phase 111-6, 18, 19, 20, 21, 22 Phase IV - 3, 12, 16, 17, 23, 24, 25

Substantial Completion Date shall be date on which all phases are completed and accepted. Total cost of Work shall be limited to $23,195,095. Tenant Work limited to $23,195,095 less soft costs (of which Architects and Engineer costs shall not exceed $111,800). If Landlord projects total cost in excess of $23,195,095, it will request review by "highest echelon of staff' including Deputy Commissioner of Human Resources Administration or, in his/her absence, Commissioner of the Department of Citywide Services to discuss reduction of the scope of work to lower the total cost.

NYC-WTC 000136518