Draft lease for 7 World Trade Center, March 1998

NYC 9/11 Public Portal Document

Landlord shall refund the overpayment to Tenant within 45 days after delivery of the aforesaid statement.

4. Landlord shall not be obliged to make any adjustments or recomputations, retroactive or otherwise, by reason of any revision which may later be made in the figure of the Price Index first published for any month. The Price Index published for any Lease Year shall, for the purpose of this Subsection A.2., be deemed no lower than the Base Price Index.

5. If the Price index ceases to use the 1982-84 average equaling 1(X) as the basis of calculation, then the Price Index shall be appropriately adjusted to reflect the change in the Price Index from that in effect at the date of this Lease. If such Price Index shall no longer be published by said Bureau, then any substitute or successor index published by said Bureau or other governmental agency of the United States, and similarly adjusted as aforesaid, shall be used. If such Price Index (or a successor or substitute index similarly adjusted) is not available, a reliable governmental or other reputable publication selected by Landlord and Tenant jointly and evaluating the information theretofore used in determining the Price Index shall be used.

6. If any part of a year of the term of this Lease shall include any part of a Lease Year, Tenant’s liability under this Subsection A.2. shall be apportioned so that Tenant shall pay only such part of the sums required to be paid under this Subsection A.2. that shall be included in the Term of this Lease.

Example for calculating CPI Index changes.

Index point change CPI..................................... 118.5 Less CPI for previous period 113.8 Equals index point change ... .... 4.7

Percent Change Index point difference....................... ........... 4.7 Divided by the previous index.......... ........113.8 Equals.............................................. ........ 0.041 Results multiplied by 100................. .0.041x100 Equals percent change...................... ........... 4.1

B. REAL ESTATE TAX ESCALATIONS

The term "Taxes" and "Real Estate Taxes" as used herein, shall mean the real estate taxes and assessments (excluding the BID and special assessments attributable to additions or ct^ital improvements (other than replacements) to the Building which are not customary for a first-class office Building) on or with respect to the Building and the Land upon which it is located, assessed, levied, or imposed by any governmental authority having jurisdiction.

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