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<br />This'Lease was entered into in order to obtain new lease tenn beyond the "last lease date. and to <br />expand the store into the 20,000 square foot former K-Foods space. <br /> <br />1. Demised Premises. <br /> <br />Land -12.9 acres <br />Building -104,000 square feet <br /> <br />2. Tenn. <br /> <br />a) Interim Term: Commences on the Effective Date and shall terminate on the date of Tenants <br />Grand Opening or Re-Grand Opening. <br /> <br />b) Primary Term: Commences on the first day following the expiration of the Interim Term and <br />shall terminate on such date as shall be twenty-five (25) years from the last day of the month <br />in which the Interim Term terminates. <br /> <br />c) Extended Term: Five 5-year renewal periods with a twelve month notice to renew prior to the <br />Expiration of the Primary Term or the immediately preceeding Extended Term. <br /> <br />'v-- <br />d) SUDDlemental Term: To January 31 following any expiration date. <br /> <br />3. Annual Rental. Tenant shall pay to Landlord for the period commencing on the first <br />day of the Primary Term through the balance of the Lease Term, at such place as Landlord shall <br />designate in writing from time to time, an annual rental as follows: <br /> <br />Lease Year Annual Rent Monthlv <br />01 - 13 $489,000.00 $40,750.00 <br />14 - 18 $523,230.00 $43,602.50 <br />19 - 23 $559,856.10 $46,654.67 <br />24 - 25 $599,046.27 $49,920.50 <br /> <br />Annual Rental for the Extended Terms shall be as follows: <br /> <br />Lease Year Annual Rent Monthlv <br />First Option Term $658,950.87 $54,912.57 <br />Second Option Term $724,845.95 $60,403.82 <br />Third Option Term $797,330.54 $66,444.21 ' <br />Fourth Option Term $8n,063.59 $73,088.63 <br />Fifth Option Term $965,000.00 , $80,397.49 <br /> <br />4. Real Estate Taxes. Commencing in the Primary Term, except as otherwise <br />specifically provided in Section 2 of this Lease, Tenant shall pay and discharge all ad valorem real <br />estate taxes and all assessments, general or specific, levied against the Taxable Premises (as such <br />term is hereinafter defined) during the Primary Term, any Extended Terms, and the Supplemental <br />Term, excluding therefrom general or special assessments which are incurred or levied as a result of <br />Landlord's activity in developing the Demised Premises for Tenants occupancy. During the Interim <br />Term, the obligation to pay all real estate taxes and assessments as between Landlord and Tenant <br />shall be as set forth in the Prior Lease. <br /> <br />WI~ ......- - aa"~ <br />