FIRST AMENDMENT TO LEASE
THIS FIRST AMENDMENT TO LEASE (Amendment) made as of the 13th day of November, 2015, by PREMIER ARHAUS LLC, an Ohio limited liability company (Landlord) and ARHAUS, LLC, a Delaware limited liability company (Tenant).
W I T N E S S E T H:
WHEREAS, Landlord and Tenant entered into a certain Lease dated September 19, 2014 (Original Lease) for the lease of certain real property and improvements commonly located in Boston Heights, Ohio, and more fully described on Exhibit A attached to the Original Lease and incorporated herein by reference; and
WHEREAS, the parties desire to amend the terms and conditions of the Original Lease in certain respects;
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged and agreed, the parties hereto hereby agree as follows:
1. All capitalized terms used herein shall have the same definitions as those set forth in the Original Lease, unless otherwise specifically defined herein.
2. Section 1.02.H. of the Original Lease is hereby amended to provide as follows: Rent Commencement Date: March 1, 2016; provided, however, that the Rent Commencement Date shall be extended on a day for day basis to the extent that the Completion Date for the Warehouse portion of the Building does not occur on or before December 31, 2015, for any reason except for a Tenant Delay.
3. Section 2.02.A. of the Original Lease is hereby amended to provide as follows: Project Schedule; Completion Dates. Landlord and Tenant agree that a preliminary project schedule is attached hereto as an Exhibit B (the Project Schedule). The Project Schedule shall only be modified or changed by a writing executed by Landlord and Tenant, or as otherwise required or permitted by the terms of this Lease. Subject to Landlord Excusable Delays, Landlord shall cause the Completion Date with respect to the Warehouse space to occur no later than December 31, 2015. If for any reason the Completion Date shall not occur by December 31, 2016 (the Outside Completion Date), this Lease shall automatically be null and void, and neither party shall have any claim against the other in damages or otherwise, provided, however, should the failure of the Completion Date to occur on or before the Outside Completion Date be due to Tenant Delay, then the Outside Completion Date shall be extended for one day for each day of Tenant Delay; provided that the Tax Exemption pursuant to the Community Reinvestment Area Agreement with the Village of Boston Heights, Ohio remains in effect.