NYC 9/11 Public Portal Document
taxes or foreign ownership or control taxes or any capital gains tax, deed tax, transfer tax and
mortgage recording tax imposed by municipal, state or federal law, (ii) any expenses incurred by
Landlord, or Landlord's estate, including payments to attorneys and appraisers, in contesting the
Taxes and Real Estate Taxes by tax certiorari proceedings and such expenses and payments shall
be the obligation of Landlord, and (iii) any Taxes resulting from an increase of the assessed value
of the Building attributable to additions or capital improvements (other than replacements) to the
Building unless such addition or capital improvement was made in whole or in part for the benefit
of tenants generally. As of the date hereof, to the best of Landlord's knowledge, the only Taxes
affecting the Building and/or the Land are the real estate taxes payable to the City of New York
as Pilot.
Tenant covenants and agrees that for each lease year of the Term commencing with July
1, 1998, where the total annual Real Estate Taxes imposed or assessed upon the land and Building
for such lease year is greater than the Tax base for the New York City fiscal year 1997/1998
(hereinafter referred to as the "Real Estate Tax Base Year"), Tenant shall pay to Landlord as
additional rent, a sum equal to two point five nine percent (2.59%) of such increase, which
represents Tenant's proportionate share of such increase. The amount of such additional rent
payable for any lease year having a duration of less than twelve (12) months shall be prorated.
The Tax base for the Real Estate Tax Base Year shall be the annual Real Estate Taxes
finally imposed or assessed on the Land and Building for the Real Estate Tax Base Year.
Appropriate credit shall be given for any refund obtained by reason of a reduction in the
assessed valuation made by the assessors or the courts at any time during this Lease or at any time
thereafter taking into account Landlord's costs in obtaining any such reduction. The original
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