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Ground Lease Tasman Phase C

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Sectors: Computer Hardware
Governing Law: California , View California State Laws
Effective Date: April 12, 1995
Related Agreement Types:
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TASMAN PHASE C)


By and Between


IRISH LEASING CORPORATION
A TEXAS CORPORATION


as Landlord


and


CISCO SYSTEMS, INC.,
A CALIFORNIA CORPORATION,


as Tenant


for
Premises located in
San Jose, California


THIS LEASE IS NOT INTENDED TO CONSTITUTE A TRUE LEASE
FOR INCOME TAX PURPOSES. SEE SECTION 21.2


2


TABLE OF CONTENTS


Page ARTICLE 1 BASIC LEASE PROVISIONS......................................................................... 1
1.1 Date of Lease.................................................................................. 1
1.2 Landlord....................................................................................... 1
1.3 Tenant......................................................................................... 1
1.4 Land........................................................................................... 1
1.5 Premises....................................................................................... 1
1.6 Term........................................................................................... 1
1.7 Lease Commencement Date........................................................................ 2
1.8 Rent Commencement Date......................................................................... 2
1.9 Base Rent...................................................................................... 2
1.10 Addresses for Notices.......................................................................... 2
1.11 Addresses for Rent Payments.................................................................... 2
ARTICLE 2 DEFINITIONS.................................................................................... 3
2.1 Additional Rent................................................................................ 3
2.2 Approval Plans................................................................................. 3
2.3 Authorized Loan................................................................................ 3
2.4 Authorized Plans............................................................................... 3
2.5 Base Rent...................................................................................... 3
2.6 Collateral..................................................................................... 3
2.7 Default........................................................................................ 3
2.8 Default Rate................................................................................... 3
2.9 Entity......................................................................................... 3
2.10 Equity Funded Amount........................................................................... 4
2.11 Equity Rent Component.......................................................................... 4
2.12 Event of Major Default......................................................................... 4
2.13 Extension Term................................................................................. 4
2.14 Fee Mortgage................................................................................... 4
2.15 Fee Mortgagee.................................................................................. 4
2.16 Funded Amount.................................................................................. 4
2.17 Guaranteed Residual Value...................................................................... 4
2.18 Improvements................................................................................... 5
2.19 Initial Term................................................................................... 5
2.20 Land........................................................................................... 5
2.21 Landlord Affiliate............................................................................. 5
2.22 Lease Commencement Date........................................................................ 5
2.23 Lease Rate..................................................................................... 5
2.24 Legal Requirements............................................................................. 5
2.25 LIBOR Business Day............................................................................. 5
2.26 LIBOR Rate. .................................................................................. 5
2.27 Loan Rate...................................................................................... 5
2.28 Mortgage....................................................................................... 5
2.29 Mortgagee...................................................................................... 6
2.30 New Loan....................................................................................... 6
2.31 Notice......................................................................................... 6
2.32 Official Records............................................................................... 6
2.33 Permitted Exceptions........................................................................... 6
2.34 Premises....................................................................................... 6
2.35 Real Estate Taxes.............................................................................. 6
2.36 Rent........................................................................................... 6

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Page
2.37 Rent Commencement Date......................................................................... 6
2.38 Rent Payment Date.............................................................................. 6
2.39 Replacement Loan............................................................................... 6
2.40 Required Permits............................................................................... 6
2.41 Security Deposit............................................................................... 7
2.42 Senior Funded Amount........................................................................... 7
2.43 Senior Rent Component.......................................................................... 7
2.44 SGA............................................................................................ 7
2.45 Taking......................................................................................... 7
2.46 Tenant Deed of Trust........................................................................... 7
2.47 Term........................................................................................... 7
2.48 UBS............................................................................................ 7
2.49 UBS Loan....................................................................................... 7
2.50 UBS Note....................................................................................... 7
ARTICLE 3 DEMISE......................................................................................... 7
3.1 Premises....................................................................................... 7
ARTICLE 4 TERM........................................................................................... 8
4.1 Initial Term................................................................................... 8
4.2 Extension Term................................................................................. 8
4.3 Holding Over................................................................................... 8
ARTICLE 5 RENT........................................................................................... 9
5.1 Base Rent...................................................................................... 9
5.2 Proration...................................................................................... 9
5.3 No Abatement of Rent........................................................................... 10
5.4 Delinquent Rent................................................................................ 10
5.5 Security Deposit............................................................................... 10
ARTICLE 6 TAXES.......................................................................................... 11
6.1 Real Estate Taxes.............................................................................. 11
6.2 Personal Property Taxes........................................................................ 12
6.3 Right to Contest............................................................................... 12
6.4 Withholding Taxes.............................................................................. 13
6.5 Additional Provisions Relating to Taxes........................................................ 14
ARTICLE 7 INSURANCE...................................................................................... 15
7.1 Liability Insurance............................................................................ 15
7.2 Waiver of Subrogation.......................................................................... 15
7.3 Indemnity...................................................................................... 16
ARTICLE 8 USE............................................................................................ 16
8.1 Use............................................................................................ 16
8.2 Contest of Legal Requirements.................................................................. 19
8.3 Indemnification................................................................................ 19
ARTICLE 9 UTILITIES AND SERVICES......................................................................... 20
9.1 Services to the Premises....................................................................... 20
ARTICLE 10 MAINTENANCE AND REPAIRS; SURRENDER OF THE PREMISES............................................. 20
10.1 Tenant Obligations............................................................................. 20
10.2 Surrender of the Premises...................................................................... 21


ii.


4


Page ARTICLE 11 CONSTRUCTION OF IMPROVEMENTS AND COMMON AREA................................................... 21
11.1 Tenant's Rights to Construct Improvements...................................................... 21
11.2 Required Permits, Easements, etc............................................................... 23
11.3 Demolition and Reconstruction.................................................................. 23
11.4 Title to and Nature of Improvements............................................................ 23
ARTICLE 12 LIENS.......................................................................................... 24
ARTICLE 13 ASSIGNMENT BY LANDLORD......................................................................... 24
13.1 Further Mortgages or Encumbrances by Landlord;
Authorized Loans............................................................................... 24
13.2 Landlord's Right to Sell....................................................................... 26
13.3 Transfer of Funds and Property................................................................. 26
ARTICLE 14 ASSIGNMENT AND SUBLEASING...................................................................... 27
14.1 Right to Assign................................................................................ 27
14.2 Right to Sublet................................................................................ 27
14.3 Tenant's Right to Mortgage..................................................................... 28
ARTICLE 15 EMINENT DOMAIN................................................................................. 28
15.1 Total or Substantial Taking.................................................................... 28
15.2 Partial Taking................................................................................. 28
15.3 Temporary Taking............................................................................... 28
15.4 Damages........................................................................................ 29
15.5 Notice and Execution........................................................................... 29
ARTICLE 16 DAMAGE OR DESTRUCTION.......................................................................... 29
16.1 Insured Casualty............................................................................... 29
16.2 Insurance Proceeds............................................................................. 30
ARTICLE 17 DEFAULT........................................................................................ 30
17.1 Default........................................................................................ 30
17.2 Event of Major Default......................................................................... 31
17.3 Contest by Tenant.............................................................................. 31
17.4 Remedies....................................................................................... 31
17.5 No Waiver...................................................................................... 32
17.6 Effect of Assignment........................................................................... 32
17.7 Landlord Cure Right............................................................................ 32
17.8 Landlord's Default............................................................................. 33
ARTICLE 18 QUIET ENJOYMENT................................................................................ 34
18.1 Quiet Enjoyment................................................................................ 34
ARTICLE 19 TENANT'S OPTION TO PURCHASE.................................................................... 35
19.1 Option To Purchase Premises.................................................................... 35
19.2 Mandatory Purchase/Sale of Premises............................................................ 37
19.3 Survival....................................................................................... 38
ARTICLE 20 ADDITIONAL COVENANTS OF LANDLORD............................................................... 38
20.1 Title.......................................................................................... 38
20.2 Land Use....................................................................................... 39
20.3 Transfer of Property Interests................................................................. 40
20.4 Shareholder Equity; No Other Asset............................................................. 40
20.5 Recourse Obligations........................................................................... 40

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Page
20.6 Default Under Authorized Loan.................................................................. 40
ARTICLE 21 MISCELLANEOUS.................................................................................. 40
21.1 Relationship................................................................................... 40
21.2 Form of Transaction; Certain Tax Matters....................................................... 41
21.3 Notices........................................................................................ 41
21.4 Severability of Provisions..................................................................... 42
21.5 Entire Agreement; Amendment.................................................................... 42
21.6 Approvals and Consents......................................................................... 42
21.7 Terminology.................................................................................... 42
21.8 Memorandum of Lease............................................................................ 43
21.9 Successors and Assigns......................................................................... 43
21.10 Commissions.................................................................................... 43
21.11 Attorneys' Fees................................................................................ 43
21.12 Governing Law.................................................................................. 43
21.13 Counterparts................................................................................... 43
21.14 Time Is of the Essence......................................................................... 44
21.15 No Third Party Beneficiaries................................................................... 44
21.16 No Recourse.................................................................................... 44
21.17 Estoppel Certificates.......................................................................... 44
21.18 Collateral..................................................................................... 44
21.19 Landlord's Continuing Obligation to Sell....................................................... 45
21.20 As-Is Lease.................................................................................... 45
21.21 Net Lease...................................................................................... 45
21.22 Representations and Warranties................................................................. 45


List of Exhibits


Exhibit A Description of Land Exhibit B Permitted Exceptions Exhibit C Memorandum of Lease Exhibit D Closing Costs and Fees to be Included in Funded
Amount Exhibit E Lease Commencement Date Memorandum Exhibit F Description of Additional Property Owned by Landlord


iv.


6


GROUND LEASE


THIS GROUND LEASE ("Lease") by and between IRISH LEASING CORPORATION, a Texas corporation ("Landlord"), and CISCO SYSTEMS, INC., a California corporation ("Tenant"), is entered into as of the date set forth in Article 1 and shall be effective and binding upon the parties hereto as of such date. Capitalized terms used in this Lease shall have the definitions set forth in Article 2 or in the text of this Lease.


In consideration of the Base Rent reserved herein, and the terms, covenants and conditions set forth below, Landlord and Tenant hereby agree as follows:


ARTICLE 1


BASIC LEASE PROVISIONS


1.1 DATE OF LEASE: April 12, 1995.


1.2 LANDLORD: Irish Leasing Corporation,
a Texas corporation.


1.3 TENANT: Cisco Systems, Inc., a California
corporation.


1.4 LAND: That certain tract of land located in
the City of San Jose, Santa Clara
County, California, consisting of
five (5) parcels and more
particularly described on Exhibit A
attached hereto, together with all
easements, rights of way,
appurtenances and other rights and
benefits belonging or pertaining to
such land.


1.5 PREMISES: The Land.


1.6 TERM: The initial term ("Initial Term") of
this Lease shall be for five (5)
years commencing on the Lease
Commencement Date (as defined in
Section 4.1). Subject to the
conditions set forth in Section 4.2,
Tenant may extend the Initial Term
for one (1) additional period of five
(5) years ("Extension Term"). The
Initial Term and (if exercised by
Tenant) the Extension Term shall be
referred to collectively herein as
the "Term." The Term shall cease
upon, and shall not refer to any
period of time after, termination of
this Lease (whether


1.


7


pursuant to the terms of the Lease,
by operation of law, or otherwise).


1.7 LEASE COMMENCEMENT
DATE: As described in Section 4.1.


1.8 RENT COMMENCEMENT
DATE: The rent commencement date ("Rent
Commencement Date") shall be the
first LIBOR Business Day (as defined
in Section 2.25) of the calendar
month which commences immediately
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