Commencement and Permitting. Landlord shall commence construction of the Tenant Improvements upon obtaining a building permit (the Tl Permit) authorizing the construction of the Tenant Improvements consistent with the Tl Construction Drawings approved by Tenant. The cost of obtaining the Tl Permit shall be payable by Landlord. Tenant shall reasonably assist Landlord in obtaining the Tl Permit. If any Governmental Authority having jurisdiction over the construction of Landlords Work or any portion thereof shall impose terms or conditions upon the construction thereof that: # are inconsistent with Landlords obligations hereunder, # materially increase the cost of constructing Landlords Work, or # will materially delay the construction of Landlords Work, Landlord and Tenant shall reasonably and in good faith seek means by which to mitigate or eliminate any such adverse terms and conditions.
Tenant Improvements Defined. As used herein, Tenant Improvements shall mean all improvements to the Premises of a fixed and permanent nature as shown on the Tl Construction Drawings, as defined in [Section 2(c)] below. Other than Landlords Work (as defined in [Section 3(a)] below), Landlord shall not have any obligation whatsoever with respect to the finishing of the Premises for Tenants use and occupancy. Landlord and Tenant acknowledge and agree that a portion of the Premises, as reflected in the Space Plan, will not be improved as part of the Tenant Improvements as Tenant has indicated that it does not require that such portion of the Premises be improved in connection with its operations in the Premises. Upon request from Tenant, Landlord shall provide Tenant with notice of planned meetings regarding the design and construction of the tenant improvements. Tenant shall have a right to have a representative present for all design and construction meetings relating to the Tenant Improvements.
Ownership of Tenant Improvements. The Tenant Improvements (including, but not limited to, all partitioning, window and wall coverings, and plumbing, lighting, electrical, and HVAC fixtures installed by Tenant) shall be deemed, effective upon installation, to be a part of the Premises and the Building and shall be deemed to be the property of Landlord (subject to Tenants right to use the same during the Term of the Lease), and shall be surrendered at the expiration or earlier termination of the Term, unless Landlord shall have reasonably conditioned its approval of the Final Working Drawings or any Plan Modification pursuant to [[Section 2.2.1 or 2.2.6]6]]6], as applicable, on Tenants agreement to remove any items thereof. The removal of such items and the restoration and repair work described above shall be paid for and performed in accordance with the provisions of Paragraph 36 of the Lease.
Cost of Tenant Improvements. The cost of the design, construction and installation of the Tenant Improvements shall be borne as follows:
Coordination. Prior to the commencement of construction of the Tenant Improvements, Landlord and Tenant shall hold monthly meetings at a reasonable time to be agreed upon by Landlord and Tenant regarding the progress of the Base Building Improvements and the progress of the design of the Tenant Improvements. Tenant shall obtain independent bids or proposals for construction of the Tenant Improvements from at least three (3) general contractors approved by
Early Access. Landlord shall allow Tenant access to the Premises prior to the Term Commencement Date for purposes of commencing the construction of an agreed-upon scope of the Tenant Improvements at such time as Landlord determines in good faith that such access by Tenant and the commencement of the construction of such portion of the Tenant Improvements will not unreasonably interfere with or unreasonably delay Landlords Substantial Completion of the Base Building Improvements. Although ultimately the completion of the Base Building Improvements is to have priority over the commencement of the Tenant Improvements, it is the parties intentions to cooperate and coordinate in good faith such that completion of all of work is optimized. Prior to entering the Premises pursuant to this Paragraph 3.2, Tenant shall obtain from Landlord written authorization confirming the date of such entry and the scope of such Tenant Improvement Work to be performed. Tenants entry of the Premises and access to such floors shall not interfere with or delay Landlords Substantial Completion of the Base Building Improvements. Landlords authorization of Tenants access to the Premises pursuant to this Paragraph 3.2 shall not trigger the Term Commencement Date but shall be pursuant to all of the applicable terms, covenants and conditions of this Lease, including, without limitation, Tenants insurance obligations contained in Paragraph 8.2 below and Tenants indemnity obligations contained in Paragraph 8.5 below, but specifically excluding the obligation to pay Base Rent and Tenants Proportionate Share of Operating Expenses for any entry or possession before the Term Commencement Date.
Tenant Construction Period: the period from and including the date on which the Premises achieves Ready for Buildout Condition (as defined in [Exhibit B]) and Landlord permits Tenant to enter upon the Premises for commencement of the Tenant Improvements, through and including the Lease Commencement Date.
The construction in the Expansion Premises shall be performed in accordance with [Exhibit D] attached to the Lease as if references to the Premises therein were references to the Expansion Premises. Landlord shall oversee and manage the construction of the Tenant Improvements to the 6,282 rentable square feet in the Expansion Premises utilizing the general contractor selected solely at Tenants discretion as provided for in [Exhibit D] to the Lease and in compliance with the Final Plans (as defined in [Exhibit D]), in accordance with, and subject to, the terms and conditions of the Tenant Improvement Letter attached to the Lease as [Exhibit D]. Landlords construction shall not include any personal property, furniture, fixtures and equipment of Tenant.
Budget. Before the commencement of construction of the Tenant Improvements, Tenant shall deliver to Landlord a detailed breakdown by trade of the costs incurred or that will be incurred in connection with the design and construction of the Tenant Improvements and the estimated payment schedule for such costs, which Tenant shall update at least monthly (the most recent such budget, the Budget).
Commencement of Work. At least ten (10) days prior to the commencement of construction of the Tenant Improvements, or the delivery of any construction materials to the Premises, whichever is earlier, Tenant shall submit to Landlord a notice specifying the date Tenant will commence construction of the Tenant Improvements, the estimated date of completion of the Tenant Improvements, and the construction schedule for the Tenant Improvements provided by Tenants Contractor, setting forth the projected date of completion of such phase of the Tenant Improvements and showing critical time deadlines for construction milestones with respect to each major component or trade. In addition, prior to the commencement of construction of the Tenant Improvements, or the delivery of any construction materials to the Premises, whichever is earlier, Tenant shall submit to Landlord the following: # all Permits required to commence construction of the Tenant Improvements; # a copy of the executed contracts with Tenants Contractor and Major Subcontractors; # a detailed breakdown of the schedule of values, by trade, of the final costs that will be or have been incurred, in connection with the performance of the Tenant Improvement Work and that form the basis for the amount of the contracts (the Final Costs); and # certificates of all policies of insurance, or original certificates thereof executed by an authorized agent of the insurer or insurers, confirming to Landlords reasonable satisfaction compliance with the insurance requirements of this Agreement. Tenant shall be responsible for all costs associated with the Tenant Improvement Work, including the costs of the Permitted Allowance Items, to the extent the same exceed the aggregate amount that Landlord is required to disburse for such purpose pursuant to this Agreement.
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