NYC 9/11 Public Portal Document
Ms. Catherine T. Giliberti
June 26.1997
Page 2
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commence upon
REAL ESTATE TAXES: The Tenant shall pay its proportionate share (to be determined)
of increases in real estate taxes above the Base Tax Year. The
Base Tax Year shall be fiscal 1998/99 provided the Tenant has
taken occupancy prior to December 31, 1998. If the Tenant takes
occupancy after December 31,1998, then the Base Tax Year
shall be fiscal 1999/00.
OPERATING EXPENSES: The Tenant shall pay its proportionate share (percent to be
determined) of increases in direct operating expenses using the
CPI escalation formula as defined in the lease, above the Base
Operating Year. The Base Operating Year shall be (I) the
calendar year in which occupancy occurs, if the Tenant takes
occupancy between January 1st and April 30th, (II) the last half
of the calendar year and the first half of the following calendar
year, if the Tenant takes occupancy between May 1st and August
30th, or (III) the following calendar year, if the Tenant takes
occupancy between September 1st and December 31st.
ALTERATIONS AND The Landlord shall, prior to the commencement of the lease term,
IMPROVEMENTS: prepare final architectural plans and engineering plans and make
alterations and improvements in accordance with preliminary
architectural plans and specifications prepared by the Division of
Real Estate Services.
The Landlord shall contribute per rentable square foot
toward the cost of final architectural plans, engineering plans and
alterations and improvements. If the cost of the final
architectural plans, engineering plans, and alterations and
improvements exceed the Landlord’s allowance, any balance up
to an authorized maximum will be paid by the Tenant Any
unused allowance will be credited to Tenant in the form of a rent
abatement at the beginning of the lease.
NYC-WTC_000171028
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