Centre Pointe Business Park (Roseville, MN) Lease – Ryan Companies US and VERITAS Software Corp.
FIRST AMENDMENT TO LEASE
This First Amendment to Lease, dated as of 11/3, 1998 (First Amendment),
between Ryan Companies US, Inc., (Landlord) and Veritas Software Corporation
(Tenant).
WITNESSETH, that:
WHEREAS, Landlord and Tenant have entered into a Lease dated April 30,
1998 and Option Agreement dated April 30, 1998 (collectively, the 'Lease'), for
approximately 62,420 square feet of area, whereby Landlord has leased to Tenant
certain premises located in Centre Pointe Business Park, in the City of
Roseville, County of Ramsey, State of Minnesota, consisting of the Premises, as
such Premises are defined in the Lease; and
NOW, THEREFORE, Landlord and Tenant desire and intend hereby to amend the
Lease as specifically hereinafter set forth and provided:
1. SECTION 2.1.: Term of the Lease shall commence on October 16, 1998
and expire on October 31, 2008.
2. SECTION 3.1.: Monthly Base Rent shall be Seventy Four Thousand Three
Hundred Seventy Two and 00/100 Dollars ($74,372.00) commencing October
16, 1998 through October 31, 2003; Eighty Five Thousand Five Hundred
Twenty Seven and 80/100 Dollars ($85,527.80) commencing November 1,
2003 through October 31, 2008.
EXCEPT as expressly amended or supplemented herein, the Lease shall remain
and continue in full force and effect in all respects.
IN WITNESS WHEREOF, the Lease Amendment is hereby executed and delivered
effective as of the date and year first above written.
LANDLORD: RYAN COMPANIES US, INC.
BY:
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ITS:
---------------------------
TENANT: VERITAS SOFTWARE CORPORATION
BY: /s/ JAY A. JONES
----------------------------
JAY A. JONES
ITS: VICE PRESIDENT AND
GENERAL COUNSEL
---------------------------
[RYAN COMPANIES US, INC. LETTERHEAD]
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TRANSMITTAL
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TO VERITAS SOFTWARE DATE October 19, 1998
1600 PLYMOUTH STREET
MOUNTAIN VIEW, CA 94043 RE VERITAS -- CENTRE POINTE III
ROSEVILLE, MN
ATTN JAY JONES JOB NO 1025-002
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WE ARE SENDING YOU [X] ATTACHED [ ] UNDER SEPARATE COVER VIA UPS Ground
[ ] Shop Drawings [ ] For Approval
[ ] Plans/Prints [ ] For Your Use
[ ] Samples [ ] Approved as Noted
[ ] Specifications [ ] Approved as Submitted
[ ] Change Order [ ] Revise and Resubmit
[ ] Copy of Letter [ ] For Field Use
[ ] Permit Applications [ ] For Review and Response/Comments
[ ] Other____________ [ ] For Bids Due_
[X] Certificate of Substantial Completion [X] For Signature
COPIES DATE NO. DESCRIPTION
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3 Certificate of Substantial Completion
(3 Originals)
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COMMENTS Jay, please see the attached documents. Please sign all three copies,
keep one for your records, and return the other two originals for our
records. If you have any questions, please feel free to contact me.
Thank you.
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COPIES TO:
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cc
---------------------------------
SIGNED Kari Poldoski 349-0592
--------------------------------- -----------------------------------
IF ENCLOSURES ARE NOT AS NOTED, KINDLY NOTIFY US AT ONCE
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RYAN COMPANIES US, INC.
CERTIFICATE OF SUBSTANTIAL COMPLETION
PROJECT OWNER
Name VERITAS Software Name VERITAS Software
-------------------------- --------------------------
Address 2955 Centre Pointe Drive Address 2955 Centre Pointe Drive
-------------------------- --------------------------
Roseville, Minnesota 55113 Roseville, Minnesota 55113
-------------------------- --------------------------
ARCHITECT MISC. INFORMATION
Name Ryan Companies US, Inc. Project Number 1025-000
-------------------------- ------------------
Address 900 2nd Avenue South, #700 Date of Issuance October 9, 1998
-------------------------- ------------------
Minneapolis, MN 55439 Contract Date April 30, 1998
-------------------------- ------------------
DATE OF SUBSTANTIAL COMPLETION October 9, 1998
---------------
DEFINITION OF SUBSTANTIAL COMPLETION - The Date of Substantial Completion is
the date certified by the Architect when construction is sufficiently complete,
in accordance with the requirements of the Contract, so the Owner can occupy or
utilize the Project for the use for which it is intended, as expressed in the
Contract. Unless otherwise provided in the Contract, the Date of Substantial
Completion is the date on which the Project warranty commences.
WORK REMAINING TO BE COMPLETED - A list of items to be completed (the
'punchlist') is attached hereto. Owner and Design/Builder acknowledge that
this Work is incomplete and that Design/Builder will diligently work to
complete it as soon as possible. The failure to include any uncompleted items
or defective Work on the attached punchlist shall in no way alter the
responsibility of the Design/Builder to complete all Work in accordance with
the requirements of the Contract.
OWNER RESPONSIBILITIES - Unless provided otherwise in the Contract, the Owner
will assume responsibility for the following items as of the Date of
Substantial Completion:
1. All property and casualty insurance for the Project.
2. Security for the Project.
3. All permanent utilities (electricity, gas, water, sewer,
telephone, etc.)
4. Operation and maintenance of the Project.
VERITAS Software /s/ [Signature Illegible] 10/
-------------------------- -------------------------- --------------------
Owner By Date
Ryan Companies US, Inc. /s/ [Signature Illegible] 10/16/98
-------------------------- -------------------------- --------------------
Architect By Date
Ryan Companies US, Inc. /s/ [Signature Illegible] 10-19-98
-------------------------- -------------------------- --------------------
Design/Builder By Date
PROJECT COST
SUMMARY
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Base Shell $3,443,135
Base TI's $2,048,013
Land $ 747,533
Soft Cost $$ $ 951,797
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TOTAL $7,190,478
Additional Tenant Improvement changes per September 25th Summary attached.
BASE CHANGES: $524,072
ADDED CHANGES PER 9-29-98 LETTER:
Canyon Lights $55,419
Wire Molds & Cabletray $36,890
Add Closet $ 3,000
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$95,309
Additional Tenant Improvements Total $619,381
FUNDING SOURCE:
Parson's Electric direct bill for wire mold & cabletray $ 36,890
Holey allowance from Tenant Improvements $ 23,000
Second half moving allowance $ 60,910
Ryan added tenant improvement allowance $124,840
Add Ryan equity $100,000
Veritas cash payment - October 15, 1998 $273,741
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TOTAL $619,381
RENT
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RENT
Base Building Shell $3,443,135
Land $ 747,533
Soft Costs $ 951,797
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$5,142,465 @ 10.11% = $519,903
TI's
Base Building Shell $2,048,013
1st Extra $ 124,840
2nd Extra $ 100,000
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$2,272,853 @ 15.727% = $ 57,452
PLUS RESERVE $ 15,113.75
TOTAL ANNUAL RENT $892,468
PER MONTH $ 74,372
1.19/SQ FT MO.
14.28/SQ FT YR.
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