Lease Agreement for 7 WTC, Mar 1998

NYC 9/11 Public Portal Document

The Demised Premises shall be used by the Mayor’s Office of Emergency Management for executive and general offices for its domestic and international activities, such uses and activities to be conducted in a manner consistent with a first-class office building and for no other purpose whatsoever or for such other similar purposes as the Commissioner of Citywide Administrative Services may determine, provided such other purposes are consistent with the aforesaid, in conformity with the Underlying Lease, no portion of the Demises Premises shall be used to deal with the public on an “off the street" basis and upon the terms and conditions hereinafter set forth. The square footage of the Demised Premises consists of the rentable square footage set forth above, said square footage is accurate and the City relies upon these representations has been reviewed by the Department of Citywide Administrative Services, Department of Real Estate Services (“DRES").

ARTICLE 1 TERM The term (“Term”) of this Lease for which the Demised Premises are hereby leased, shall commence on the date hereof (herein called the “Commencement Date”) and shall end at noon on January 31, 2018, which ending date is hereinafter called the “Expiration Date”, or shall end on such earlier date upon which the Term may expire or be canceled or terminated pursuant to any of the conditions or covenants of this Lease or pursuant to law.

ARTICLE 2 RENT The "rents" reserved under this Lease, for the Term thereof, shall be and consist of:

(a) "Base Rent" (or "fixed rent") at the following annual amounts:

(i) ONE MILLION FOUR HUNDRED FIVE THOUSAND NINETY-SIX and 00/100 ($1,405,096.00) DOLLARS ($117,091.33 per month) for the period commencing on the Rent Commencement Date and ending on the day next preceding the fifth (5th) anniversary of the Rent Commencement Date, both dates inclusive (the "1st Rental Period");

(ii) ONE MILLION SEVEN HUNDRED FIFTY-SIX THOUSAND THREE HUNDRED SEVENTY and 00/100 ($1,756,370.00) DOLLARS ($146,364.17 per month) for the period commencing on the day next succeeding the expiration of the 1st Rental Period and ending on the day next preceding the tenth (10th) anniversary of the Rent Commencement Date, both dates inclusive (the "2nd Rental Period”);

(iii) ONE MILLION EIGHT HUNDRED FIFTY-SIX THOUSAND SEVEN HUNDRED THIRTY-FOUR and 00/100 ($1,856,734.00) DOLLARS ($154,727.83 per month) for the period commencing on the day next succeeding the expiration of the 2nd Rental

F \CR\LHC\ 4219.1O16\NEWLSE.FNL 2

NYC-WTC_000169728