Third Amendment to Lease Agreement between Old Gettysburg Associates II and Select Medical Corporation
This amendment to the lease agreement is between Old Gettysburg Associates II (landlord) and Select Medical Corporation (tenant). Effective May 1, 2002, the tenant will lease an additional 5,577 square feet, increasing the total leased space to 11,414 square feet. The tenant's share of the property will be 27%, with a new monthly rent of $17,311.23 and an annual base rent of $207,734.80. The landlord will provide a $27,885 tenant improvement allowance for the new space. All other terms of the original lease remain unchanged.
Exhibit 10.4
Old Gettysburg Associates II
4720 Old Gettysburg Road
Mechanicsburg, PA 17055
Third Addendum to Lease Agreement
THIS THIRD AMENDMENT (this “third Amendment”) is made as of the 26th day of February 2002, by and between OLD GETTYSBURG ASSOCIATES II, a Pennsylvania limited partnership (“Landlord”) and SELECT MEDICAL CORPORATION, a Delaware corporation (“Tenant”).
BACKGROUND:
| A. | Landlord and Tenant are parties to certain Office Lease Agreement dated May 1, 2001 (the “Lease”), and Amendments I and II dated February 2002. All capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Lease. | ||
| B. | Tenant now desires to lease additional space. | ||
| NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, and intending to be legally bound hereby, Landlord and Tenant agree as follows: | |||
| Effective on May 1, 2002, the following terms contained in the Basic Lease Information shall be amended as follows: |
| 1. | Tenant agrees to lease an additional 5,577 RSF, known as Suites 309 & 311. | ||
| 2. | Total area of the premises will be amended to 11,414 RSF. | ||
| 3. | Tenant’s Proportionate Share will be 27%. | ||
| 4. | The current monthly rental rate for the additional spaces will be $8,458.45. | ||
| 5. | Monthly rental rate for the entire 11,414 RSF is $17,311.23 or a total Initial Annual Base Rental rate of $207,734.80. | ||
| 6. | Owner will give Tenant a Tenant Improvement Allowance of $5.00 per RSF or $27,885 to build out the new space. |
| All other terms and conditions contained in the Lease and not amended hereby remain in full force and effect. |
| IN WITNESS WHEREOF, Landlord and Tenant have caused this Third Amendment to be duly executed as of February 26, 2002. |
| Landlord: Old Gettysburg Associates II A Pennsylvania limited partnership | ||||||||||
| Witness: | /s/ Laura J. Martin | By: | /s/ Michael E. Salerno | Date: 3/5/02 | ||||||
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| Michael E. Salerno Agent for Owner | ||||||||||
| Tenant: Select Medical Corporation A Delaware Corporation | ||||||||||
| Attest: | /s/ Michael E. Tarvin | By: | /s/ Scott A. Romberger | Date: 2/26/02 | ||||||
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| Michael E. Tarvin Secretary | Scott A. Romberger Vice President | |||||||||
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