FOURTH AMENDMENT TO LEASE AGREEMENT

 

 

    THIS FOURTH AMENDMENT TO LEASE AGREEMENT (this “Amendment”), made and entered into as of the 17th day of March, 2005, by and between CRESCENT BROOKDALE ASSOCIATES, LLC, a Georgia limited liability company (“Landlord”), and OUTBACK STEAKHOUSE, INC., a Delaware corporation (“Tenant”);

 

 

    WHEREAS, Crescent Resources, Inc. (“Original Landlord”) and Tenant entered into that certain Lease Agreement dated September 10, 1998, as amended by that certain First Amendment to Lease Agreement dated June 14, 1999 (the “First Amendment”), as further amended by that certain Second Amendment to Lease dated October 19, 2001, as further amended by that certain Addendum to Second Amendment to Lease dated October 31, 2001 (the “Second Amendment”), and as further amended by that certain Third Amendment to Lease Agreement dated December 31, 2003, as further amended by that certain Addendum to the Third Amendment to Lease Agreement dated March 24, 2004 (the “Third Amendment”) (collectively, the “Lease”), for certain premises in the building known as Corporate Center One at International Plaza and located at 2202 North Westshore, Tampa, Florida (the “Building”), consisting of 16,498 square feet of Premises Net Rentable Area is located on the third (3) floor known as Suite 380 (the “3rd Floor Space”) of the Building, 24,856 square feet of Premises Net Rentable Area is located on the fourth (4th) floor known as Suite 470 (the “4th Floor Space”) of the Building, 68,342 square feet of Premises Net Rentable Area is located on the fifth (5th) floor known as Suite 500 (the “5th Floor Space”) of the Building and 31,601 square feet of Premises Net Rentable Area is located on the sixth (6th) floor known as Suite 600 (the “Existing 6th Floor Space”) of the Building (collectively, the “Premises”);

 

    WHEREAS, Landlord is the successor-in-interest to Original Landlord;

 

    WHEREAS, Landlord and Tenant have agreed to an expansion of the Premises to include 37,139 square feet of Net Rentable Area on the sixth (6th) floor as more particularly described on Exhibit A attached hereto (the “6th Floor Additional Expansion Space”);

 

    WHEREAS, Tenant and Landlord have also agreed to a short-term extension of the Lease Term with respect to the 3rd Floor Space; and

 

    WHEREAS, Landlord and Tenant desire to evidence such expansion of the Premises and the extension of the Lease Term with respect to the 3rd Floor Space and to amend certain other terms and conditions of the Lease and evidence their agreements and other matters by means of this Amendment;

 

    NOW THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged, the Lease is hereby amended and the parties hereto do hereby agree as follows:

 

 

	1.  Grant of 6th Floor Additional Expansion Space. As of the 6th Floor Additional Expansion Space Effective Date (as defined below), Landlord agrees to lease to Tenant and Tenant agrees to lease from Landlord the 6th Floor Additional Expansion Space. As of the Floor Additional Expansion Space Effective Date, the 6th Floor Additional Expansion Space shall be subject to all the terms and conditions of the Lease, as amended hereby, and all references in the Lease to the “Premises” shall be deemed to include the 6th Floor Additional Expansion Space. As of the 6th Floor Additional Expansion Space Effective Date, any space on the 6th Floor shall be deleted from the definition of First Offer Space (as defined in section 5 of the Third Amendment).
	2. Terms of 6th Floor Additional Expansion. The Lease is hereby amended by adding the 6th Floor Additional Expansion Space as part of the Premises, subject to the following terms and conditions:

 

b.

6th Floor Additional Expansion Space Rent. From and after the 6th Floor Additional Expansion Space Effective Date, Base Rental with respect to the 6th Floor Additional Expansion Space only shall be as follows, which amounts shall be paid simultaneously with Tenant’s payment of Base Rental for the remaining Premises and which payments shall also be accompanied by the applicable sales tax:

 

1/01/14 - 03/31/14

$31.07

$288,477.18 (3 months)

$96,159.06

 

 

*Assuming June 30, 2008 is the last day of the 3rd Floor Space Extension Term

 

b.

Basic Costs. During the 3rd Floor Space Extension Term, Tenant shall continue to pay all Additional Rent and any other sums due and payable under the Lease for the 3rd Floor Space, including, without limitation, Tenant’s Proportionate Share of Basic Costs in accordance with Paragraph 7 of the Lease.

 

c.

Acceptance of 3rd Floor Space. Tenant hereby acknowledges and agrees Landlord shall have no obligation to construct any tenant improvements to the 3rd Floor Space or make any alterations or additions thereto, and Landlord shall have no obligation to provide any tenant improvement allowance, rent abatement, credit, set-off, or other concession to Tenant with respect to the extension of the Lease Term for the 3rd Floor Space.

 

d.

3rd Floor Space Second Extension Term. Paragraph 4.d. of the Third Amendment is hereby revised to provide that the 3rd Floor Space Second Extension Term shall commence July 1, 2008 (assuming June 30, 2008 is the last day of the 3rd Floor Space Extension Term) and that Tenant shall exercise such 3rd Floor Space Extension Option by written notice to Landlord given no later than September 30, 2007. All of the other terms

 

 

 

    EXCEPT AS expressly amended and modified hereby, the Lease shall otherwise remain in full force and effect, the parties hereto hereby ratifying and confirming the same. To the extent of any inconsistency between the Lease and this Amendment, the terms of this Amendment shall control.

 

 

 

 

[Remainder of Page Intentionally Blank]

 

 

 

 

    IN WITNESS WHEREOF, the undersigned parties have duly executed this Amendment as of the day and year first above written.