STORAGE LEASE EXTENSION AGREEMENT THIS STORAGE LEASE EXTENSION AGREEMENT made this _ day of 2003, by and between CESC ONE COURTHOUSE PLAZA, L.L.C., a Delaware limited liability company ("Landlord"), and THE COUNTY BOARD OF ARLINGTON COUNTY, VIRGINIA, a body politic (hereinafter "Tenant"). WITNESSETH: WHEREAS, the parties hereto entered into a storage lease agreement dated June 17, 1999 (the "Storage Lease'), which provides for the leasing of Storage 5106-A, consisting of approximately 400 square feet of storage space, in the building known as Arlington Courthouse Plaza I, located at 2200 Clarendon Boulevard, Arlington, Virginia, for a term expiring July 31, 2003; and WHEREAS, the parties hereto desire to extend the term of the aforesaid Storage Lease. NOW, THEREFORE, the parties hereto agree as follows: 1. Term of Extension. The Storage Lease is hereby extended for a further period of fifteen (15) years and two (2) months commencing August 1, 2003 (the "Effective Date"), and expiring September 30, 2018 (the "Extended Term"). 2. Base Annual Rent. The Base Annual Rent for the Extended Term shall be Six Thousand and 00/100 Dollars ($6,000.00), payable in equal monthly installments of Five Hundred and 00/100 Dollars ($500.00). On the first (1st) anniversary of the Effective Date, and each subsequent anniversary thereof, the Base Annual Rent shall be increased by four percent (4%) of the Base Annual Rent in effect during the previous lease year. The escalated Base Annual Rent so determined shall be the "Base Annual Rent" for all purposes of the Storage Lease, including the calculation of the increase in Base Annual Rent for the subsequent lease year. The increase in Base Annual Rent shall be calculated without regard to any waiver of rent or rent credit provided to Tenant. The Base Annual Rent for each lease year 3. Acceptance of Space. Tenant accepts the Demised Premises in its existing "as is" condition and shall be obligated for the payment of rent hereunder on the Effective Date, re arg dless of any time required to construct, alter or redecorate the Demised Premises to 4. Execution of Document. In the event Tenant does not execute and return this document by the close of business on July 25, 2003, then Landlord may market the subject space to others without further notice to Tenant. 5. Storage Lease. All the terms and conditions of the Storage Lease, dated June 17, 1999, as modified by this Storage Lease Extension Agreement, shall remain in
full force and effect; expressly provided, however, that notwithstanding anything to the contrary, any cancellation option, renewal option, right of first offer or additional space option, however denominated, that Tenant has, or may be deemed to have, under the Storage Lease or any amendment thereto shall be null, void and of no further force or effect as to the premises herein described. S. Courthouse Plaza Lease. In the event that the Amended and Restated Office Building Deed of Lease between Landlord and Tenant, dated October 23, 2002, is terminated for any reason during the Extended Term, Tenant shall have the right to terminate the Storage Lease upon thirty (30) days prior written notice to Landlord of its intention to terminate the Storage Lease. IN WITNESS WHEREOF, the parties hereto have caused this instrument to be duly executed as of the day and year hereinbefore first written. WITNESS: LANDLORD: CESC ONE COURTHOUSE PLAZA, L.L.C. B Name: Title: Executive Vice President WITNESS: TENANT: THE COUNTY BOARD OF ARLINGTON COUNTY, VIRGINIA By:, Name: Title:
Approved as to form:
Name: Title: County Attorney
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EXHIBIT A TIME PERIOD 8/1/03-7/31/04 8/1/04-7/31/05 8/1/05-7/31/06 8/1/06-7/31/07 8/1/07-7/31/08 8/1/08-7/31/09 8/1/09-7/31/10 8/1/10-7/31/11 8/1/11-7/31/12 8/1/12-7/31/13 8/1/13-7/31/14 8/1/14-7/31/15 8/1/15-7/31/16 8/1/16-7/31/17 8/1/17-7/31/18 8/1/18-9/30/18 BASE ANNUAL RENT $6,000.00 $6,240.00 $6,489.60 $6,749.18 $7,019.15 $7,299.91 $7,591.91 $7,895.59 $8,211.41 $8,539.87 $8,881.47 $9,236.72 $9,606.19 $9,990.44 $10,390.06 $10,805.66 MONTHLY RENT $500.00 $520.00 $540.80 $562.43 $584.93 $608.32 $632.66 $657.97 $684.28 $711.66 $740.12 $769.73 $800.52 $832.54 $865.84 $900.47