Stereotaxis
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8-K
STEREOTAXIS, INC. filed this Form 8-K on 01/11/2019
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2. Term. Pursuant to the Final Renewal Option exercised by Tenant, the term of the Lease is hereby extended to December 31, 2021.

 

3. Annual Base Rent. Commencing on January 1, 2019 and during the first year of the Final Renewal Term, Tenant shall make monthly payments in an amount equal to 1/12th of Annual Base Rent, with Annual Base Rent calculated as follows: (a) $35.65 per rentable square foot for the Office Space consisting of 57,426 rentable square feet; plus (b) $19.76 per rentable square foot for the Production/Assembly Space consisting of 11,738 rentable square feet. After the first year of the Final Renewal Term, Annual Base Rent will be increased each year during the Final Renewal Term at the rate of 2.25% of the Annual Base Rent charged the preceding year. Tenant shall pay to Landlord the Annual Base Rent for the Premises during the Final Renewal Term in the manner prescribed and otherwise in accordance with the terms and provisions of the Existing Lease. The Annual Base Rent set forth herein includes the leasing commission equal to 3% of the Annual Base Rent due during the Final Renewal Term (for a total commission payable by Landlord to Tenant’s Broker during the Final Renewal Term of $202,753) with payment due within 10 business days of execution and delivery of this Amendment.

 

4. Adjustments to Annual Base Rent. Tenant shall continue to pay to Landlord Tenant’s Pro Rata Share of Expenses (and all other sums of money due and owing under the Lease) as provided in the Existing Lease subject to a new Expense Stop established with the 2019 base year representing the 2018 operating Expenses escalated by 3%. Tenant shall pay these sums in the manner prescribed and otherwise in accordance with the terms and provisions of the Existing Lease.

 

5. Parking. During the Final Renewal Term, Landlord has the right to relocate 80 of the 100 parking spaces referenced in Section 21.17 of the Existing Lease to the locations noted on the site plan attached hereto as Exhibit A, for the purpose of constructing a new parking garage. Tenant will not be charged for parking during the Final Renewal Term unless Tenant elects to return to the residential garage parking before expiration of the Final Renewal Term in which case Tenant will pay market rate for such parking in the residential garage for the balance of the Final Renewal Term.

 

6. Broker. Tenant represents and warrants that it has not dealt with any broker or agent in the negotiation for or the obtaining of this Amendment other than Cresa St. Louis (“Tenant’s Broker”) and agrees to reimburse, indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord, at Tenant’s sole cost and expense) and hold harmless the Landlord for, from and against any and all cost or liability for compensation claimed by any broker or agent, other than Tenant’s Broker, employed or engaged by it or claiming to have been employed or engaged by it.

 

7. Condition of Premises. Tenant acknowledges that (a) it is in possession of and is fully familiar with the condition of the Premises and, notwithstanding anything contained in the Lease to the contrary, agrees to take the same in its condition “as is” as of the first day of the Final Renewal Term, and (b) Landlord shall have no obligation to alter, repair or otherwise prepare the Premises for Tenant’s continued occupancy for the Final Renewal Term or to pay for any improvements to the Premises, except as may be expressly provided in the Lease.

 

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