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Legal memo on 7 WTC lease draft #4 comments, Dec

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Law Department memorandum providing legal comments and corrections regarding the fourth draft of the lease for 7 World Trade Center.

NYC-WTC_000170182–000170191

Folder label: “Article 5 Landlord's Interest in Premises

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NYC 9/11 Public Portal Document

DEC-31-1997 14:36 NYC LAW DEPT 212 798 0366 P.11/13

Tenant’s Initial Work after notice to Tenant;(iii) additional work or changes or new materials

requested by Tenant, it being agreed that Landlord's response to Tenant's request for additional

work or changes or new materials shall include the cost thereof and estimated resulting delay

time; or (iv) any resubmissions or revisions of Tenant's Plans (without regard to any time periods

granted to Tenant hereunder for making such resubmissions or revisions). At Landlord's option.

the Term of this Lease shall commence on the date on which Tenant's Initial''Work of the general

office potion of the Demised Premises would have been Substantially Completed if not for the

occurrence of any such delays.

(I) Notwithstanding anything contained to the contrary in this Lease, the total cost of

Tenant's Initial Work which Landlord shall provide Tenant without charge and for installations

performed prior to the Commencement Date shall be

(S- Afiq-fTWQ MILLION SIXTY-ONE THOUSAND SIX

HUNDRED SEVENTY-FIVE (S2,061.765.001 DOLLARS less all costs, expenses and fees

pursuant to the Scone of Service.s provided for jp Exhibit hereto (said sum of

$2.061.675.00 as so reduced is herein called the "Landlord’s Maximum Contribution"). If

the Work Cost shall exceed Landlord's Maximum Contribution, Tenant may accept Landlord's

detailed estimate of such excess cost (including any resulting delay) only by countersigning and

delivering same to Landlord within three (3) days after Landlord's rendition of such estimate. If

the Work Cost shall exceed Landlord’s Maximum Contribution, any amount up to a maximum of

S (the "Cap") will be paid by Tenant. If the Work Cost exceeds the Cap, Tenant

shall promptly meet with Landlord to resolve the overage. Payment by Tenant of such cost in

excess of Landlord's Maximum Contribution shall be made within 45 days after Substantial

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NYC-WTC_000170189

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NYC-WTC_000170189Source: NYC Law Department, mirrored locally

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Draft lease agreement between the City of New York and 7 World Trade Company for 45,815 square feet at 7 World Trade Center.

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