19078_Glenwood Land_Glenwood One Office and Glenwood One South_LURU20

Mary Katherine H. Stukes
Partner
Telephone: [phone]
Direct Fax: [phone]
[e-mail]
Atlanta, GA
Charleston, SC
Charlotte, NC
Columbia, SC
Greenville, SC
Raleigh, NC
Spartanburg, SC
PPAB 5386713v1
Parker Poe Adams & Bernstein LLP Three Wells Fargo Center 401 South Tryon Street Suite 3000 Charlotte, NC 28202-1935
t 704.372.9000 f 704.334.4706 www.parkerpoe.com
January 31, 2020

Via E-mail ([e-mail])
Mr. David Peacock Brownfields Program, Compliance Manager NC DEQ, Division of Waste Management Mail Service Center 1646 Raleigh, NC 27699-1646
Re: 2020 Land Use Restrictions Updates Glenwood Properties Brownfields Agreement
Dear Mr. Peacock:
Please find attached a 2020 Land Use Restrictions Update (LURUs) for Brownfields Project No. 19078-15-092 being submitted on behalf of Glenwood One South, LLC and Glenwood One Office, LLC.
Glenwood One Office, LLC and Glenwood One South, LLC each own portions of the Brownfields Property as described in the attached LURUs.
If there are any questions regarding the enclosed LURU, please do not hesitate to contact me at [phone].
Sincerely,
Mary Katherine H. Stukes
Attachments
cc: Andre Pierce (Director, Wake County Environmental Health and Safety)
Ryan Blair, Heritage Properties
EXECUTION COPY
LEASE
BETWEEN
GLENWOOD ONE OFFICE, LLC
and
FIRST TENNESSEE BANK NATIONAL ASSOCIATION
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RALEIGH, NORTH CAROLINA
GLENWOOD ONE OFFICE, LLC
RALEIGH, NORTH CAROLINA
AGREEMENT OF LEASE
TIDS AGREEMENT OF LEASE (this "Lease") is made as of this day of
___ ,, 2018, by and between GLENWOOD ONE OFFICE, LLC, a Maryland limited
liability company, having a place of business c/o HERITAGE PROPERTIES, INC., 501
Fairmount Avenue, Towson, Maryland 21286 ("Landlord"), as Landlord, and FIRST
TENNESSEE BANK NATIONAL ASSOCIATION, a national banking association, having a
place of business at 165 Madison Avenue, Memphis, Tennessee 38103, Attention: Corporate
Real Estate ("Tenant"), as Tenant. The basic terms of this Lease are found in the Rider to this
Lease (labeled Exhibit A) and are incorporated herein by reference. The date that this Lease is
fully executed is the "Effective Date".
ARTICLE I
PREMISES AND CONSTRUCTION
1.1. Premises. Landlord hereby leases to Tenant, and Tenant hereby leases from
Landlord, the premises shown on the floor plan attached as Exhibit B (the "Leased Premises") to
this Lease consisting of the number of square feet of rentable floor area indicated in the Rider to
this Lease for Suite 800 (the "Rider") in the building at the property, the improvements on which
are known as One Glenwood, Glenwood Avenue and Hillsborough Street, Raleigh, North
Carolina 27617 (the "Building") (such land and improvements called the "Property") together
with necessary access, parking and utility easements to serve the Leased Premises, and the right
to use in common with others the lobby, common entrances, common stairways, common
elevators and other common areas of the Building and Property (the "Common Area" or
"Common Areas"), upon the terms and conditions stated in this Lease.
(a) Brownfields' Notice. The Property is subject to the Brownfields
Agreement attached as Exhibit A to the Notice of Brownfields Property recorded in the Wake
County land records, Book 16690, Page 2621. Landlord warrants, represents and covenants that
the Property is in compliance with the Brownfields Agreement as of the Effective Date and shall
be in compliance with the Brownfields Agreement as of the date Landlord delivers the Leased
Premises to Tenant and at all times during the term of this Lease.
1.2. Rentable Area. The useable area of the Leased Premises has been determined and
certified by an architect selected by Landlord and has been determined in accordance with the
Building Owners and Managers Association, International "Standard Method for Measuring
Floor Area in Office Buildings" (ANSI/BOMA Z65.1-1996). The rentable area of the Leased
Premises shall be calculated by increasing the measured useable area by an agreed upon amount
of fourteen percent (14%). The area as so determined is herein called the "Rentable Area". The
amount of Rentable Area is as set forth in the Rider attached hereto.
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1.3. Construction of Improvements.
(a) Landlord shall complete Landlord's Work at Landlord's cost and satisfy
the Delivery Conditions as set forth on Exhibits C-1 and C-2 attached hereto and as defined
below, and shall construct and prepare the Building and the Leased Premises in a manner ready
for Tenant to install Tenant's own improvements. All improvements shall be completed with high
quality materials and standards. Landlord shall keep Tenant regularly apprised as to the progress
ofLandlord's Work.
(b) Landlord shall provide the Tenant Improvement Allowance as indicated in
the Rider for Tenant to improve the Leased Premises which Tenant Improvement Allowance
Tenant may use in its sole discretion for all costs incurred in connection with Tenant's Work;
"Tenant's Work" is all of the improvements to be made by Tenant to prepare the Leased
Premises for Tenant's initial occupancy, including, without limitation, hard costs, architect and
engineering fees, permitting costs, labor, materials, data cabling, but excluding Landlord's
Work. The contents of Exhibit C-1 and those items labeled as "Applies to Base" on Exhibit C-2
are collectively "Landlord's Work." Landlord shall complete Landlord's Work, at Landlord's
cost and expense, in a good and workmanlike manner, in accordance with all applicable laws and
in accordance with plans and specifications of July 10, 2017, and Landlord shall deliver the
Leased Premises to Tenant clean and free of debris, free of any hazardous materials,
Substantially Completed, and in compliance with all applicable laws (collectively, the "Delivery
Conditions").
(c) Substantial Completion. Landlord shall notify Tenant in writing as soon
as Landlord's Work is Substantially Completed. "Substantial Completion" or "Substantially
Completed" means the relevant construction has been completed in accordance with the
applicable plans and specifications and all applicable laws, codes, and regulations, with the
exception of minor or insubstantial details of construction and/or mechanical adjustment and/or
decorative items that remain to be performed (i.e. "punch list items") provided that in connection
with Landlord's Work, the completion of any such punch list items will not materially interfere
with Tenant's ability to conduct Tenant's Work, or Tenant's access or enjoyment of the Leased
Premises, and the local jurisdiction has provided a certificate of occupancy or its equivalent for
the Building shell that permits Tenant to perfonn Tenant's Work in the Leased Premises.
(d) Punch List. Following Landlord's notice to Tenant that Landlord's Work
is Substantially Completed, on reasonable prior notice to Landlord, Tenant shall have the right to
inspect Landlord's Work (provided that Tenant shall not unreasonably interfere with or delay the
perfonnance of punch list items), and, if applicable, together with Landlord, create a list of
punch list items (as defined above) which would not materially interfere with Tenant's access to
the Leased Premises or its ability to construct Tenant's improvements that remain to be
completed (it being agreed that such inspection by Tenant and the creation by Tenant of such
punch list shall not be deemed to be a waiver of any of Tenant's or Landlord's rights or
obligations hereunder). Landlord shan promptly complete all agreed upon punch list items
within thirty (30) days after receipt of the same.
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2
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed UNDER SEAL as of the day and year first above written.
WITNESS/ATTEST:
WITNESS:
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LANDLORD:
GLENWOOD ONE OFFICE, LLC
a Mary land limited liability company
By: (SEAL)
James J. Railey
President, CEO, Heritage Properties, Inc.
Authorized Agent for Glenwood One Office, LLC
TENANT:
FIRST TENNESSEE BANK NATIONAL
ASSOCIATION,
a national banking association
39
#634606v7
007600-0209
DEED OF LEASE
BETWEEN
GLENWOOD ONE OFFICE, LLC
and
GANNETT FLEMING, INC.
RALEIGH, NORTH CAROLINA
EXECUTION VERSION
GLENWOOD ONE OFFICE, LLC
RALEIGH, NORTH CAROLINA
DEED OF LEASE
-~
THIS DEED OF LEASE (this "Lease") is made as of this ,z,4' day of September,
2018, by and between GLENWOOD ONE OFFICE, LLC, a Maryland limited liability
company, having a place of business c/o HERITAGE PROPERTIES, INC., 501 Fairmount
Avenue, Towson, Maryland 21286 ("Landlord"), as Landlord, and GANNETT FLEMING,
INC., a Delaware Corporation, having a place of business at 207 Senate Avenue, Camp Hill, PA
17011 ("Tenant"), as Tenant. The basic terms of this Lease are found in the Rider to this Lease
(labeled Exhibit A) and are incorporated herein by reference. The date that this Lease is fully
executed is the "Effective Date".
ARTICLE I
PREMISES AND CONSTRUCTION
1.1. Premises. Landlord hereby leases to Tenant, and Tenant hereby leases from
Landlord, the premises shown on the floor plan attached as Exhibit B (the "Leased Premises") to
this Lease consisting of the number of square feet of rentable floor area indicated in the Rider to
this Lease for Suite 900 (the "Rider") in the building at the prope11y, the improvements on which
are known as One Glenwood, Glenwood Avenue and Hillsborough Street, Raleigh, No1th
Carolina 27617 (the "Building") (such land and improvements called the "Property") together
with necessary access, parking and utility easements to serve the Leased Premises, and the right
to use in common with others the lobby, common entrances, common stairways, common
elevators and other common areas of the Building and Prope1ty (the "Common Area" or
"Common Areas"), upon the terms and conditions stated in this Lease.
(a) Brownfields' Notice. The Property is subject to the Brownfields
Agreement attached as Exhibit A to the Notice of Brownfields Property recorded in the Wake
County land records, Book 16690, Page 2621. Landlord warrants, represents and covenants that
the Property is in compliance with the Brownfields Agreement as of the Effective Date and shall
be in compliance with the Brownfields Agreement as of the date Landlord delivers the Leased
Premises to Tenant and at all times during the term of this Lease.
1.2. Rentable Area. The useable area of the Leased Premises has been determined and
certified by an architect selected by Landlord and has been determined in accordance with the
Building Owners and Managers Association, International "Standard Method for Measuring
Floor Area in Office Buildings" (ANSI/BOMA 265.1-1996). The rentable area of the Leased
Premises shall be calculated by increasing the measured useable area by an agreed upon amount
of fouiteen percent (14%). The area as so determined is herein called the "Rentable Area". The
amount of Rentable Area is as set fo1th in the Rider attached hereto.
#634606v7
007600-0209
1.3. Construction of Improvements.
(a) Landlord shall complete Landlord's Work and satisfy the Delivery
Conditions as set forth on Exhibits C-1 and C-2 attached hereto, and shall construct and prepare
the Building and the Leased Premises in a manner ready for Tenant to install Tenant's own
improvements. Landlord shall keep Tenant regularly apprised as to the progress of Landlord's
Work along with any base building plan or specifications revisions throughout the construction
process that may affect the Leased Premises and or building standards set forth in the lease.
(b) Landlord shall provide the Tenant Improvement Allowance as indicated in
the Rider for Tenant to improve the Leased Premises, which Tenant Improvement Allowance
Tenant may use in its sole discretion for all costs incurred in connection with Tenant's Work;
"Tenant's Work" is all of the improvements made by Tenant to prepare the Leased Premises for
Tenant's initial occupancy, including, without limitation, hard costs, architect and engineering
fees, permitting costs, labor, materials, data cabling. Tenant may use up to Five Dollars ($5.00)
per square foot for soft costs related to fixtures, low voltage cabling, furniture, equipment,
signage, etc. The contents of Exhibit C-1 and those items labeled as "Applies to Base" on
Exhibit C-2 are collectively "Landlord's Work." Landlord shall complete Landlord's Work in a
good and workmanlike manner, in accordance with all applicable laws and in accordance with
plans and specifications of July 10, 2017, and Landlord shall deliver the Leased Premises to
Tenant clean and free of debris, free of any hazardous materials and in compliance with all
applicable laws (collectively, the "Delivery Conditions").
(c) Substantial Completion. Landlord shall notify Tenant in writing as soon
as Landlord's Work is Substantially Completed. "Substantial Completion" or "Substantially
Completed" means that the relevant construction has been completed in accordance with the
applicable plans and specifications, with the exception of minor or insubstantial details of
construction and/or mechanical adjustment and/or decorative items that remain to be performed
(i.e. "punch list items") provided that in connection with Landlord's Work, the completion of
any such punch list items will not materially interfere with Tenant's ability to conduct Tenant's
Work, or Tenant's access or enjoyment of the Leased Premises, and the local jurisdiction has
provided a certificate of occupancy or its equivalent. In the event that Landlord fails to deliver
possession of the Leased Premises to Tenant in accordance with the Delivery Conditions as set
forth on Exhibits C-1 and C-2 on or before March 15, 2019 (the "Delivery Deadline") then for
everyday beyond that date Landlord will provide Tenant one (I) day of free rent. The Delivery
Deadline shall be extended for reasons of (I) Tenant Delay (as defined below), or (2) Force
Majeure (as defined in Section 17.8).
(i) Tenant Delay. A "Tenant Delay" means any actual delay which
delays Landlord in the performance of Landlord's Work by reason of (A) any access to the
Leased Premises prior to Landlord's delivery of the Leased Premises to Tenant by Tenant, its
employees, agents or contractors, including, without limitation, actual delays caused by Tenant's
interference with Landlord's Work or damaging Landlord's Work, or (B) Tenant's requested
changes to Landlord's Work.
#634606v7
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2
IN WITNESS WHEREOF, the parties hereto have caused this Deed of Lease to be
executed UNDER SEAL as of the day and year first above written.
,,,,um,,,, ,,,, x. MAR!t 111,
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: \ j) C/)i = • ~ •,··,;, UBL\v ..._: ,:
--d •.v n, • r-. ' ~ '<' •,G'u 'I-~ •• $·' ,,: ~ ·• •• Sr 2s •••• •·_, ,:, , iffo •••••••• ~"""""' ,, ,,,,, 'Rt col.)~ ,,,, ,,,,, .. ,,,,,,
STA TE OF __,_,m----'-'-=a~q ,_,_J~a«i--""'-'-__
COUNTY OF~~b~ri~l~h~./}i_()_~~-
LANDLORD:
GLENWOOD ONE OFFICE, LLC
a Maryland limited liability company
)
ames J. Railey
President, CEO, Heritag Prope1ties, Inc.
Authorized Agent for G enwood One Office, LLC
) ss:
)
I, a Notary Public in and for the aforesaid jurisdiction, do hereby certify that James J.
Railey, who is personally known to me as, or satisfactorily proven to be, the person named as
President and CEO of Heritage Properties, Inc., Authorized Agent for Glenwood One Office,
LLC, in the foregoing Deed of Lease, personally appeared before me in the said jurisdiction, and
by virtue of the authority vested in him or her, acknowledged the same to be the act and deed of
said organization, and delivered the same as such.
GIVEN under my hand and official seal this~y of .Jep/caJbe-c, 2018.
~11113~ ;tary Public
My Commission Expires: ~ ;al, J'2 ;L/ J
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31
STATE OF ?eJ\f\.S'j \\}Q'f\\Cl,
COUNTY OF Ub.N\t?e,,'<' \0-.-nd
TENANT:
GANNETT FLEMING, INC.,
a Delaware corporation
By: ~l~ (SEAL)
Name: ~4}\.Q..✓ ~~ Cb, /j I) /-h
Title: £:xecufiv~ Ut&e. Vft31 d ~
)
) ss:
)
I, a Notary Public in and for the aforesaid jurisdiction, do hereby certify that Es.-\:,he.r· M~G:\D'D\$, who is personally known to me as, or satisfactorily proven to be,
the person named as ete£... \J \ c~ ?res of Gannett Fleming, Inc., in the foregoing Deed of
Lease, personally appeared before me in the said jurisdiction, and by virtue of the authority
vested in him or her, acknowledged the same to be the act and deed of said organization, and
delivered the same as such.
GIVEN under my hand and official seal this ~tay of Se..£5U:'-mbe..r, 2018.
Notary u I
My Commission Expires: ~ U.~ to 1 '?1tJ d)\)
COMMONWl:ALlh Ut l'tNN~YLVAN111
NOTARIAL SEAL
PEGGY A HAYMAN
Notary Public
EAST PENNSBORO TWP, CUMBERLAND COUNTY
M~ Commlulon Expires Jun 6, 2020
#634606v7
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32
#629380v5
007600-0206
LEASE
BETWEEN
GLENWOOD ONE OFFICE, LLC
and
M. ARTHUR GENSLER JR. & ASSOCIATES, INC.
RALEIGH, NORTH CAROLINA
GLENWOOD ONE OFFICE, LLC
RALEIGH, NORTH CAROLINA
AGREEMENT OF LEASE
THIS AGREEMENT OF LEASE (this "Lease") is made as of this ~lt-t~day of
, 2018, by and between GLENWOOD ONE OFFICE, LLC, a Maryland limited
y company, having a place of business c/o HERITAGE PROPERTIES, INC., 501
Fairmount A venue, Towson, Maryland 21286 ("Landlord"), as Landlord, and M . ARTHUR
GENSLER JR. & ASSOCIATES, INC., a California corporation, having a place of business at
2 Harrison St., San Francisco, CA 94105 ("Tenant"), as Tenant. The basic terms of this Lease
are found in the Rider to this Lease (labeled Exhibit A) and are incorporated herein by reference.
The date that this Lease is fully executed is the "Effective Date".
ARTICLE I
PREMISES AND CONSTRUCTION
1.1. Premises. Landlord hereby leases to Tenant, and Tenant hereby leases from
Landlord, the premises shown on the floor plan attached as Exhibit B (the "Leased Premises") to
this Lease consisting of the number of square feet of rentable floor area indicated in the Rider to
this Lease for Suite I 07 (the "Rider") in the building at the property, the improvements on which
are known as One Glenwood, Glenwood Avenue and Hillsborough Street, Raleigh, No1th
Carolina 27617 (the "Building") (such land and improvements called the "Property") together
with necessary access, parking and utility easements to serve the Leased Premises, and the right
to use in common with others the lobby, common entrances, common stairways, common
elevators and other common areas of the Building and Property (the "Common Area" or
"Common Areas"), upon the terms and conditions stated in this Lease.
(a) Brownfields' Notice. The Prope1ty is subject to the Brownfields
Agreement attached as Exhibit A to the Notice of Brownfields Property recorded in the Wake
County land records, Book 16690, Page 2621. Landlord warrants, represents and covenants that
the Property is in compliance with the Brownfields Agreement as of the Effective Date and shall
be in compliance with the Brownfields Agreement as of the date Landlord delivers the Leased
Premises to Tenant and at all times during the term of this Lease.
1.2. Rentable Area. The useable area of the Leased Premises has been determined and
certified by an architect selected by Landlord and has been determined in accordance with the
Building Owners and Managers Association, International "Standard Method for Measuring
Floor Area in Office Buildings" (ANSI/BOMA Z65. l-1996). The rentable area of the Leased
Premises shall be calculated by increasing the measured useable area by an agreed upon amount
of eighteen and one-half percent ( 18.5%). The area as so determined is herein called the
"Rentable Area". The amount of Rentable Area is as set fo1th in the Rider attached hereto.
1.3. Construction of Improvements.
(a) Landlord shall complete Landlord's Work and satisfy the Delivery
Conditions as set fo1th on Exhibits C-1 and C-2 attached hereto, and shall construct and prepare
#629380v5
007600-0206
the Building and the Leased Premises in a manner ready for Tenant to install Tenant's own
improvements. Landlord shall keep Tenant regularly apprised as to the progress of Landlord's
Work.
(b) Landlord shall provide the Tenant Improvement Allowance as indicated in
the Rider for Tenant to improve the Leased Premises which Tenant Improvement Allowance
Tenant may use in its sole discretion for all costs incurred in connection with improvements that
Tenant may elect to make to the Leased Premises, including without limitation, a mezzanine
("Tenant's Work"), including, without limitation, hard costs, architect and engineering fees,
permitting costs, labor, materials and data cabling. Tenant may use up to Five Dollars ($5.00)
per square foot of the Tenant Improvement Allowance for soft costs related to fixtures, furniture,
equipment, signage, etc. The contents of Exhibit C-1 and those items labeled as "Applies to
Base" on Exhibit C-2 are collectively "Landlord's Work." Landlord shall complete Landlord's
Work in a good and workmanlike manner, in accordance with all applicable laws and in
accordance with plans and specifications stamped by the architect on July I 0, 2017 (the "Plans
and Specifications"), and Landlord shall deliver the Leased Premises to Tenant clean and free of
debris, free of any hazardous materials and in compliance with all applicable laws (collectively,
the "Delivery Conditions"). Landlord, at Landlord's cost, shall cause any defects in the
Landlord's Work to be promptly corrected.
( c) Substantial Completion. Landlord shall notify Tenant in writing as soon
as Landlord's Work is Substantially Completed. "Substantial Completion" or "Substantially
Completed" means that the relevant construction has been completed in accordance with the
applicable Plans and Specifications, with the exception of minor or insubstantial details of
construction and/or mechanical adjustment and/or decorative items that remain to be performed
(i.e. "punch list items") provided that in connection with Landlord's Work, the completion of
any such punch list items will not materially interfere with Tenant's ability to conduct Tenant's
Work, or Tenant's access or enjoyment of the Leased Premises, and the local jurisdiction has
provided a certificate of occupancy or its equivalent.
(d) Punch List. Following Landlord's notice to Tenant that Landlord's Work
is Substantially Completed, on reasonable prior notice to Landlord, Tenant shall have the right to
inspect Landlord's Work (provided that Tenant shall not unreasonably interfere with or delay the
performance of punch list items), and, if applicable, together with Landlord, create a list of
punch list items (as defined above) which would not materially interfere with Tenant's access to
the Leased Premises or its ability to construct Tenant's improvements that remain to be
completed (it being agreed that such inspection by Tenant and the creation by Tenant of such
punch list shall not be deemed to be a waiver of any of Tenant's or Landlord's rights or
obligations hereunder). Landlord shall promptly complete all agreed upon punch list items
within fifteen (I 5) Business Days after receipt of the same and if Landlord fails to complete the
punch list items within said fifteen (15) Business Day period, and such failure continues for an
additional five (5) Business Days after Tenant notifies Landlord that it has failed to complete
said work and that Tenant intends to complete said work on Landlord's behalf (which five (5)
Business Day period shall be reasonably extended for up to thirty (30) additional days so long as
Landlord commenced such punch list items within the initial fifteen (15) Business Day period
and is diligently pursuing completion of the punch list items), Tenant shall have the right to
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2
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed UNDER SEAL as of the day and year first above written.
WITNESS/ATTEST:
WITNESS:
LANDLORD:
GLENWOOD ONE OFFICE, LLC
a Maryland limited liability company
cT. By: _----... (SEAL)
James J. Railey
President, CEO, Heritage Pro erties, Inc.
Authorized Agent for Glenwood One Office, LLC
TENANT:
M. ARTHUR GENSLER JR. &
ASSOCIATES, INC.,
a California Corporation
Be=~
Name: Andrew Cohen
Title: Chief Executive Officer
31
#599012v12
007600-0190
LEASE
BETWEEN
GLENWOOD ONE OFFICE, LLC
and
EXECUTION VERSION
SEPI ENGINEERING & CONSTRUCTION, INC.
RALEIGH, NORTH CAROLINA
FIRST AivlENDMENT TO LEASE
This FIRST AMENDivtENT TO LEASE (this "Arnenclrncnt") is made and entered into
as of this I ?),fu day of/\l<-::ven1_l~cr-____ .. __ , 2017, by and between GLENWOOD ONE OFFJCE,
LLC, a Maryland limited liability company ((he. "Landlord") and SFPI fl"l"GINEERING &
CONSTRUCTION, lNC., a North Carolina corporation (the "Tenant").
A. Landlord is the landlord of that certain real property located at One Glenwood,
Glenwood Avenue and Hillsborough Street, Raleigh, North Carolina 276 J 7 (the "Property") and
certain common areas ,m cl other space (collectively, the "Project"); and
B. Landlord and Tenant entered into an Agreement of Lease for the Project dated
August 21, 2017 (the "Lease"); and
C. The paities wish to add the required "Brownfields' Notice" to the Lease.
NOW, THEREFORE, in consideration of the mutual covenants contained herein and
intending to be legally bound, the parries hereto covenant and agree as follows:
l. The Recitals set forth above are hereby incorporated by reference and made a
substantive part hereof.
2. New subsection l .1 (b) is hereby added to the Lease as follows:
"(b) B1~2}~!1fkJi!;;..'..J~.9_ti_~-~-The Property is su bjcct to the Brownfields
Agreement <1ttachcd as Exhibit A lo the Notice of Brownfields Property recorded
in the Wake County land records, Book l 6690,. Page 2(i2 l. Landlord warrnnts,
represents and covenants that the Property is in compl iancc \.vith the Brownfields
Agreement as of the Gffective Date and shall be in compltance ,vitb the
Brownl'iclds Agreement as of the date Landlord delivers the Leased Premises to
Tenant and al all times during the term of this Lease."
3. D~finitiQJ._1.§.. Unless otherwise defined herein, all capitalized terms herein shall
have the meaning set forth in the Lease.
4. Genernl:
t/602688
007600-0"190
4. l. In al I other respects, the Lease shnll remain in full force and effect.
4.2. This Amendment shall be binding npon the parties hereto and their
respective suc cessors, and assigns.
4J. This Amendment shall be interpreted and construed in accordance with the
laws of the State of North Carolina.
#602688
007600-0190
4.4. The language of this Amendment shall be construed according to its
normal and usual meaning mid not strictly for or against either Landlord or
Tenant.
4.5. lf any cl ause or prov1s 1011 of this Amenclmenl is or becomes illegal,
invalid, or unenf<:lrccable because of present or fu ture laws or any rule or
regulalion of any govcrn1ncntal body or entity, cffoctivc during the Tenn
(as defined in lhe Lease), the intention of the parties hereto is that the
remaining parts of this Arnenclrnent slrnll not be affected thereby.
4.6. Any references in the Lease to the "Lease" shall be deemed to include the
Lease and this Amendment. l.::xcept as modified hereby, all terms and
conditions of the Lease shall conti nue in full force and effect.
4.7. Thi s Amendment may be executed by co untcrparl. The delivery of an
executed counterpart of this Amendmen t by facsimile or as a PDF or
similar attachmen1 to an email delivered in accordance with this
Amendm cnl shall constitute effective delivery of such co unterpart for all
purposes with the same force and effect of delivery of an original,
executed cotmlcrpar1.
2
WITNESS the hands and seals of the parties hereto as of the day and year first above
written.
WITNESS/ATTEST:
WITNESS:
t/602688
007600-0190
" .)
LANDLORD:
GLENWOOD ONE OFFICE, LLC
a Maryland limited liability company
By: (SEAL)
s J. Railey
President, CEO, Herita e Properties, Inc.
Authorized Agent for G enwood One Office, LLC
TENANT:
SEJ>J ENGINEERING & CONSTRUCTION, INC.,
a North Carolina corporation
By: ~a.eh ~ (L-c,,
Name:Sepideh Saidi
Title: President
(SEAL)
#581241v14
007600-0181
EAST\144991399.1
LEASE
BETWEEN
GLENWOOD ONE OFFICE, LLC
and
1 GLENWOOD AVE TENANT LLC
RALEIGH, NORTH CAROLINA
EXECUTION VERSION
GLENWOOD ONE OFFICE, LLC
RALEIGH, NORTH CAROLINA
AGREEMENT OF LEASE
THIS AGREEMENT OF LEASE (this "Lease") is made as of this 2(<>) ~ day of
)u~'-1 , 2017, by and between GLENWOOD ONE OFFICE, LLC, a Maryland limited
liabi ity company, having a place of business c/o HERITAGE PROPERTIES, INC., 501
Fairmount Avenue, Towson, Maryland 21286 ("Landlord"), as Landlord, and 1 GLENWOOD
AVE TENANT LLC, a New York limited liability company, ("Tenant"), as Tenant. The basic
terms of this Lease are found in the Rider to this Lease (labeled Exhibit A) (the "Rider") and are
incorporated herein by reference. The date that this Lease is fully executed is the "Effective
Date".
ARTICLE I
PREMISES AND CONSTRUCTION
1.1. Premises. Landlord hereby leases to Tenant, and Tenant hereby leases from
Landlord, the premises shown on the floor plan attached as Exhibit B (the "Leased Premises") to
this Lease consisting of the number of square feet of rentable area indicated in the Rider to this
Lease in the building (the "Building") at the propetty, the improvements on which are known as
One Glenwood, Glenwood Avenue and Hillsborough Street, Raleigh, North Carolina 27617
(such land and improvements called the "Property") together with necessary access, parking and
utility easements to serve the Leased Premises, and the right to use in common with others the
lobby, common entrances, common stairways, common elevators, entranceways, restrooms,
driveways, loading docks, parking facilities, utility closets (including electrical, telephone or
janitor rooms), risers, shafts, raceways and other similar or related facilities as may exist in and
about the Building and Propetty and any other common areas, amenities and facilities that are or
may be generally available to all occupants of the Building and other common areas of the
Building and Propetty (the "Common Area" or "Common Areas"), upon the terms and
conditions stated in this Lease. Landlord shall provide Tenant with reasonable access to the
mechanical and maintenance rooms of the Building upon twenty-four hours' notice (except in
the case of an emergency, when no notice shall be required) and Landlord shall have the right to
supervise Tenant in connection with any such access (at Landlord's cost and expense during
Normal Business Hours or in an emergency caused by Landlord's actions or failure to act when
Landlord had a duty to act, and at Tenant's cost and expense outside ofNormal Business Hours).
The prior sentence is not applicable to the time when Tenant is constructing Tenant's Work,
provided, however that during such time Landlord shall provide Tenant with reasonable access to
the mechanical and maintenance rooms of the Building.
(a) Brownfields' Notice. The Property is subject to the Brownfields
Agreement attached as Exhibit A to the Notice of Brownfields Propetty recorded in the Wake
County land records, Book 16690, Page 2621. Collectively, the Brownfields Agreement, the
Notice of Brownfields Property and the Environmental Management Plan dated March 13, 2017
relating to the Property and all applicable legal requirements related thereto, are herein, the
"Brownfields Requirements". Landlord warrants, represents and covenants that the Property is
in compliance with the Brownfields Requirements as of the Effective Date and shall be in
#581241v14
007600-0181
EAST\ 144991399.1
compliance with the Brownfields Requirements as of the date Landlord delivers the Leased
Premises to Tenant and at all times during the term of this Lease. Landlord shall (i) in addition
to all other requirements and limitations set forth in this Lease, provide Tenant with five (5)
days' advance notice of any maintenance, remediation or other work to be undertaken by
Landlord in order to comply with the Brownfields Requirements, which notice shall include the
scope of any such maintenance, remediation or other work; (ii) deliver to Tenant copies of all
notices received by Landlord in connection with the Brownfields Requirements within five (5)
Business Days after Landlord's receipt thereof and (iii) deliver to Tenant copies of all notices,
filings, certifications or other documents that Landlord may submit, or be required to submit, to
the applicable governing authority relating to the Brownfields Requirements at the time Landlord
submits such notices, filings, cettifications or other documents to the applicable governing
authority. Landlord shall indemnify Tenant and its agents and employees and save them
harmless from and against any and all claims, damages, fines, judgments, penalties, costs,
expenses or liabilities (including, without limitation, any and all sums paid for settlement of
claims, reasonable attorneys' fees, consultant and expert fees) arising from or out of any
occurrence relating to those matters set forth in the Brownfields Requirements and/or Landlord's
failure to fully comply with any of the Brownfields Requirements.
1.2. Rentable Area. The rentable area of the Leased Premises has been determined
and certified by an architect selected by Landlord and has been determined in accordance with
the Building Owners and Managers Association, International "Standard Method for Measuring
Floor Area in Office Buildings" (ANSI/BOMA Z65.1-1996) ("BOMA"). The rentable area of
the Leased Premises has been calculated by increasing the measured useable area by foutteen
percent (14%). The fifth (51h) floor terrace is not included in the useable area calculation for the
fifth floor. Measurements determined in accordance with such BOMA standard is herein called
the "Rentable Area". Subject to Tenant's right to remeasure the Leased Premises as hereinafter
provided, the amount of Rentable Area is as set forth in the Rider.
Tenant, at Tenant's sole cost, shall have the right to have the Rentable Area of the
Leased Premises re-measured in accordance with the BOMA standard referenced above and, if
the actual Rentable Area of the Leased Premises as determined by Tenant's architect is less than
the amount stated above, then Tenant's architect and Landlord's architect shall consult within
thirty (30) days in order to reach consensus. If an agreed upon Rentable Area results from this
process, then the Basic Rent, Tenant's Share, the Tenant Improvement Allowance, the Guaranty
and any other amounts in this Lease calculated on the basis of the Rentable Area of the Leased
Premises shall be adjusted accordingly. Following the conclusion of the aforesaid architectural
consultation, either party shall have the right to submit any dispute with respect to the Rentable
Area to arbitration pursuant to Article XXVI.
1.3. Construction oflmprovements.
(a) Landlord shall complete Landlord's Work and satisfy the Delivery
Conditions as set forth on Exhibit C-1 and C-2 attached hereto, and shall construct and prepare
the Building and the Leased Premises in a manner ready for Tenant to install Tenant's own
improvements. Landlord shall keep Tenant regularly apprised as to the progress of Landlord's
#581241v14
007600-0181
EASl\14499!399.1
2
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed UNDER SEAL as of the day and year first above written.
WITNESS/ATTEST:
WITNESS:
#581241v14
007600-0181
EAST\144983437.1
LANDLORD:
GLENWOOD ONE OFFICE, LLC
a Maryland limited liability company
<. ' / .
By:_• ~i.....,.)_~_c_\'--~-----+--(SEAL)
James J. Railey 1 President, CEO, Heritage Properties, Inc.
Authorized Agent for Glenwood One Office,
LLC
TENANT:
E TENANT LLC, a New
lity company
Peter Greenspan
Assistant Secretary
[Signature page to Lease-One Glenwood Avenue and Hillsborough Street, Raleigh, North Carolina 27617]
IN WITNESS WHEREOF, Guarantor has caused this instrument to be duly executed
under seal and delivered as of the date first above written.
WITNESS:
#581241v14
EAST\144992891.1
GUARANTOR:
By: ~-v------~=-------~-----­
Narne: __..P_..e ...... t ..... e.._r ..... Gu...re=-e=n'-'-'s~p::....:a=n-=-----
Title: -#-A~si-hs~isri:ltaafn-Ht,.....Sol'lie~c-re""'t ...... a.....,ry,__ __
Signature page lo Limited Guaranty of Lease-One Glenwood Avenue and Hillsborough Street, Raleigh, North Carolina 27617]
#644877
007600-021 3
RETAIL LEASE
between
GLENWOOD ONE OFFICE, LLC
Landlord
and
RALEIGH BARVENTURE, INC
Tenant
Dated: ·-:f<?%,;1d,/ "'/ I
GLENWOOD ONE OFFICE, LLC
RALEIGH, NORTH CAROLINA
AMENDED AND RESTATED AGREEMENT OF LEASE
THIS AMENDED AND RESTATED AGREEMENT OF LEASE (this "Lease") is
made as of this '1)~ day of April, 2019, by and between GLENWOOD ONE OFFICE,
LLC, a Maryland limited liability company, having a place of business c/o HERITAGE
PROPERTIES, INC., 501 Fairmount Avenue, Towson, Maryland 21286 ("Landlord"), as
Landlord, and FIRST TENNESSEE BANK NATIONAL ASSOCIATION, a national banking
association, having a place of business at 165 Madison Avenue, Memphis, Tennessee 38103,
Attention: Corporate Real Estate ("Tenant"), as Tenant. The basic terms of this Lease are found
in the Rider to this Lease (labeled Exhibit A) and are incorporated herein by reference. The date
that this Lease is fully executed is the "Effective Date".
RECITALS OF FACT
A. Pursuant to the tenns of that ce1tain Agreement of Lease dated October 16; 2018,
as amended by that certain First Amendment to Lease dated as of February 28, 2019 and that
certain Second Amendment to Lease dated as of March 31, 2019 (the "Prior Lease"), Tenant
leased office space from Landlord of approximately 50,553 square feet known a Suite 800
located on the 7th and 8th floors of the building commonly known as One Glenwood at
Glenwood Avenue and Hillsborough Street in Raleigh, North Carolina, as more :particularly
described therein and herein.
B. Landlord has not yet delivered the Leased Premises (as hereinafter defined) to
Tenant under the tenns of the Prior Lease. Tenant and Landlord now desire to amend the date
for delivery of the Leased Premises, adjust the allocation of construction responsibilities under
the Lease, and othetwise modify the terms of the Lease as set forth herein. For the foregoing
reasons, the parties are now entering into this Amended and Restated Agreement of Lease.
ARTICLE I
PREMISES AND CONSTRUCTION
1.1. Premises. Landlord hereby leases to Tenant, and Tenant hereby leases from
Landlord, the premises shown on the floor plan attached as Exhibit B (the "Leased Premises") to
this Lease consisting of the number of square feet of rentable floor area indicated in the Rider to
this Lease for Suite 800 (the "Rider") in the building at the property, the improvements on which
are known as One Glenwood, Glenwood Avenue and Hillsborough Street, Raleigh, Nmth
Carolina 27617 (the "Building") (such land and improvements called the "Property") together
with necessary access, parking and utility easements to serve the Leased Premises, and the right
to use in common with others the lobby, common entrances, common stairways, common
elevators and other common areas of the Building and Property (the "Common Area" or
"Common Areas"), upon the terms and conditions stated in this Lease.
(a) Brownfields' Notice. The Property is subject to the Brownfields
Agreement attached as Exhibit A to the Notice of Brownfields Property recorded in the Wake
#634414v11
007600-0208
County land records, Book 16690, Page 2621. Landlord warrants, represents and covenants that
the Property is in compliance with the Brownfields Agreement as of the Effective Date and shall
be in compliance with the Brownfields Agreement as of the date Landlord delivers the Leased
Premises to Tenant and at all times during the term of this Lease.
1.2. Rentable Area. The useable area of the Leased Premises has been determined and
certified by an architect selected by Landlord and has been determined in accordance with the
Building Owners and Managers Association, International "Standard Method for Measuring
Floor Area in Office Buildings" (ANSI/BOMA Z65.l-1996). The rentable area of the Leased
Premises shall be calculated by increasing the measured useable area by an agreed upon amount
of fourteen percent (14%). The area as so determined is herein called the "Rentable Area". The
amount ofRentable Area is as set forth in the Rider attached hereto.
1.3. Construction of Improvements.
(a) Effective as of the Effective Date, and subject to minor punch-list items
previously agreed by Landlord and Tenant, which Landlord agrees to promptly complete in
accordance with the terms of this Lease applicable to constrnction of improvements by
Landlord, Landlord has substantially completed, at Landlord's sole cost and expense, the work
as set forth on Exhibit C-1 and those items labeled as "Applies to Base" on Exhibit C-2
attached hereto (collectively, "Landlord's Work"), all in a manner ready for Landlord to install
Landlord's Additional Work (as hereinafter defined) and othe1wise in a good and workmanlike
manner, in accordance with all applicable laws and in accordance with plans and specifications
of July I 0, 2017. All improvements by Landlord shall be completed with high quality mate1ials
and standards.
(b) In addition to Landlord's Work, Landlord shall provide the Tenant
Improvement Allowance as indicated in the Rider for Landlord to further improve the Leased
Premises, which Tenant Improvement Allowance Landlord shall use, together with such
additional amounts as may be required from Tenant hereunder, in accordance with this Lease
and the Rider, for all costs incurred in connection with Landlord's Additional Work.
"Landlord's Additional Work" is all of the improvements to be made by Landlord to prepare the
Leased Premises for Tenant's initial occupancy, including, without limitation, hard costs,
architect and engineering fees beyond what are being paid for directly by Tenant, permitting
costs, labor, materials, telephone and data cabling, those items described as "Applied to
Landlord's Additional Work" on Exhibit C-2 attached hereto, and the sun shading work
described in Section R.l.3(b) of the Rider, all exclusive of Landlord's Work. Landlord shall
complete Landlord's Additional Work, at Landlord's cost and expense (except as otherwise set
forth in the Rider), in a good and workmanlike manner, in accordance with all applicable laws
and in accordance with the plans and specifications described in the Rider, and Landlord shall
deliver the Leased Premises to Tenant clean and free of debris, free of any hazardous materials,
Substantially Completed, and in compliance with all applicable laws (collectively, the "Delivery
Conditions"). Landlord shall keep Tenant regularly apprised as to the progress of Landlord's
Additional Work. Landlord's Additional Work, and the processes and procedures for
#634414v11
007600-0208
2
IN WITNESS WHEREOF, the parties hereto have caused this instrnment to be
executed UNDER SEAL as of the day and year first above written.
WITNESS/ATTEST:
WITNESS:
LANDLORD:
GLENWOOD ONE OFFICE, LLC
a Maryland limit
By; _~<:.....:.,_.,;___..J--J-~--\----(SEAL)
James J. Railey
President, CEO, Heritage operties, Inc.
Authorized Agent for Glenwood One Office, LLC
TENANT:
FIRST TENNESSEE BANK NATIONAL
ASSOCIATION,
a national banking association
~l_ , ~~· --~ -P !)) ~6 -==------J3y: ~ ~ (SEAL)
N ~NL, Pt .. uMMBl
#634414v11
007600-0208
Title: v\CE-P~I~
37
GLENWOOD ONE OFFICE, LLC
RALEIGH, NORTH CAROLINA
AGREEMENT OF LEASE
.I I I THIS AGREEMENT OF LEASE (this "Lease") is made as of this /q IP day of
ffi_()tJlh=-=~V , 2019, by and between GLENWOOD ONE OFFICE, LLC, a Maryland limited
liability company, having a place of business c/o HERITAGE PROPERTIES, INC., 501
Fairmount Avenue, Towson, Maryland 21286 ("Landlord"), as Landlord, and FIRST
HORIZON BANK, a Tennessee banking corporation, having a place of business at 165
Madison Avenue, Memphis, Tennessee 38103, Attention: Corporate Real Estate ("Tenant"), as
Tenant. The basic terms of this Lease are found in the Rider to this Lease (labeled Exhibit A)
and are incorporated herein by reference. The date that this Lease is fully executed is the
"Effective Date".
ARTICLE I
PREMISES AND CONSTRUCTION
1.1. Premises. Landlord hereby leases to Tenant, and Tenant hereby leases from
Landlord, the premises shown on the floor plan attached as Exhibit B (the "Leased Premises") to
this Lease consisting of the number of square feet of rentable floor area indicated in the Rider to
this Lease for Space 121 (the "Rider") on the first floor of the building at the property, the
improvements on which are known as One Glenwood, Glenwood Avenue and Hillsborough
Street, Raleigh, North Carolina 2761 7 (the "Building") (such land and improvements called the
"Property'') together with necessary access, parking and utility easements to serve the Leased
Premises, and the right to use in common with others the lobby, common entrances, common
stairways, common elevators and other common areas of the Building and Property (the
"Common Area" or "Common Areas"), upon the terms and conditions stated in this Lease.
(a) Brownfields' Notice. The Property is subject to the Brownfields
Agreement attached as Exhibit A to the Notice of Brownfields Prope1ty recorded in the Wake
County land records, Book 16690, Page 2621. Landlord warrants, represents and covenants that
the Property is in compliance with the Brownfields Agreement as of the Effective Date and shall
be in compliance with the Brownfields Agreement as of the date Landlord delivers the Leased
Premises to Tenant and at all times during the term of this Lease.
1.2. Rentable Area. The useable area of the Leased Premises has been determined and
certified by an architect selected by Landlord and has been determined in accordance with the
Building Owners and Managers Association, International "Standard Method for Measuring
Floor Area in Office Buildings" (ANSI/BOMA 265.1-2010). The area as so determined is herein
called the "Rentable Area". The amount of Rentable Area is as set forth in the Rider attached
hereto.
4816-6825-7672v9
2100000-B 12870 11/1 B/2019
IN WITNESS WHEREOF, the parties hereto have caused this instrnment to be
executed UNDER SEAL as of the day and year first above written.
WITNESS/ATTEST:
WITNESS:
4816-6825-7672v9
2100000-B12870 11/18/2019
LANDLORD:
GLENWOOD ONE OFFICE, LLC
a Maryland limited liability company
lley
President, CEO, Herita e Properties, Inc.
Authorized Agent for Glenwood One Office, LLC
TENANT:
FIRST HORIZON BANK,
a Tennessee banking corporation
36
GLENWOOD ONE OFFICE, LLC
RALEIGH, NORTH CAROLINA
AGREEMENT OF LEASE
~
TIDS AGREEMENT OF LEASE (this "Lease") is made as of this I< day of April,
2019, by and between GLENWOOD ONE OFFICE, LLC, a Maryland limited liability
company, having a place of business c/o HERITAGE PROPERTIES, INC., 501 Fairmount
Avenue, Towson, Maryland 21286 ("Landlord"), as Landlord, and HEAPY ENGINEERING,
INC., a Ohio corporation, having a place of business at 1400 West Dorothy Lane, Dayton, OH
45409 ("Tenant"), as Tenant. The basic terms of this Lease are found in the Rider to this Lease
(labeled Exhibit A) and are incorporated herein by reference. The date that this Lease is fully
executed is the "Effective Date".
ARTICLE I
PREMISES AND CONSTRUCTION
1.1. Premises. Landlord hereby leases to Tenant, and Tenant hereby leases from
Landlord, the premises shown on the floor plan attached as Exhibit B (the "Leased Premises") to
this Lease consisting of the number of square feet of rentable floor area indicated in the Rider to
this Lease for Suite 1010 (the "Rider") in the building at the prope1ty, the improvements on
which are known as One Glenwood, Glenwood A venue and Hillsborough Street, Raleigh, No1th
Carolina 27603 (the "Building") (such land and improvements called the "Prope1ty") together
with necessary access, parking and utility easements to serve the Leased Premises, and the right
to use in common with others the lobby, common entrances, common stairways, common
elevators and other common areas of the Building and Property (the "Common Area" or
"Common Areas"), upon the terms and conditions stated in this Lease.
(a) Brownfields' Notice. The Prope1ty is subject to the Brown:fields
Agreement attached as Exhibit A to the Notice of Brownfields Prope1ty recorded in the Wake
County land records, Book 16690, Page 2621. Landlord warrants, represents and covenants
that the Property is in compliance with the Brownfields Agreement as of the Effective Date and
shall be in compliance with the Brownfields Agreement as of the date Landlord delivers the
Leased Premises to Tenant and at all times during the term of this Lease.
1.2. Rentable Area. The useable area of the Leased Premises has been determined and
ce1ti:fied by an architect selected by Landlord and has been determined in accordance with the
Building Owners and Managers Association, International "Standard Method for Measuring
Floor Area in Office Buildings" (ANSI/BOMA Z65.l-l 996). The rentable area of the Leased
Premises shall be calculated by increasing the measured useable area by an agreed upon amount
of eighteen and one half percent (18.5%). The area as so determined is herein called the
"Rentable Area". The amount of Rentable Area is as set fo1th in the Rider attached hereto.
658022v2
007600-0218
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed UNDER SEAL as of the day and year first above written.
WITNESS/ATTEST:
WITNESS:
658022v2
007600-0218
LANDLORD:
GLENWOOD ONE OFFICE, LLC
a Maryland limited liability company
By: ~z (SEAL)
James J. Railey )
President, CEO, Heritage Properties, Inc.
Authorized Agent for Glenwood One Office, LLC
TENANT:
HEAPY ENGINEERING, INC
a Ohio Corporation
By:~£_ (SEAL)
Name: '2 tC[f ~ L /Jkt.ll.AK
Title: f1te.;;1 Q1!/4'-f
27
GLENWOOD ONE OFFICE, LLC
RALEIGH, NORTH CAROLINA
AGREEMENT OF LEASE
THIS AGREEMENT OF LEASE (this "Lease") is made as of this 6 f h day of
MAa<...h , 2019, by and between GLENWOOD ONE OFFICE, LLC, a Maryland limited
liability company, having a place of business c/o HERITAGE PROPERTIES, INC., 501
Fairmount Avenue, Towson, Maryland 21286 ("Landlord"), as Landlord, and ISSUER DIRECT
CORPORATION, a Delaware corporation, having a place of business at 500 Perimeter Park
Drive, Suite D, Morrisville, North Carolina 27560 ("Tenant""), as Tenant. The basic terms of
this Lease are found in the Rider to this Lease (labeled Exhibit A) and are incorporated herein by
reference. The date that this Lease is fully executed is the "Effective Date".
ARTICLE I
PREMISES AND CONSTRUCTION
1.1. Premises. Landlord hereby leases to Tenant, and Tenant hereby leases from
Landlord, the premises shown on the floor plan attached as Exhibit B (the "Leased Premises") to
this Lease consisting of the number of square feet of rentable floor area indicated in the Rider to
this Lease for Suite I 001 (the "Rider") in the building at the property, the improvements on
which are known as One Glenwood, Glenwood Avenue and Hillsborough Street, Raleigh, North
Carolina 276 17 (the "Building") (such land and improvements called the "Property") together
with necessary access, parking and utility easements to serve the Leased Premises, and the right
to use in common with others the lobby, common entrances, common stairways, common
elevators and other conm1on areas of the Building and Property (the "Common Area" or
"Common Areas"), upon the terms and conditions stated in this Lease.
(a) Brownfields' Notice. The Property is subject to the Brownfields
Agreement attached as Exhibit A to the Notice of Brownfields Property recorded in the Wake
County land records, Book 16690, Page 2621. Landlord warrants, represents and covenants that
the Property is in compliance with the Brownfields Agreement as of the Effective Date and shall
be in compliance with the Brownfields Agreement as of the date Landlord delivers the Leased
Premises to Tenant and at all times dttring the term of this Lease.
1.2. Rentable Area. The useable area of the Leased P1;emises has been determined and
certified by an architect selected by Landlord and has been determined in accordance with the
Building Owners and Managers Association. International "Standard Method for Measuring
Floor Area in Office Buildings" (ANSI/BO MA Z65. l-20 l 0). The rentable area of the Leased
Premises shall be calculated by increasing the measured useable area by an agreed upon amount
of eighteen and one half percent (18.5%). The area as so determined is herein called the
"Rentable Area". The amount of Ren table Area is as set forth in the Rider attached hereto.
1.3. Construction of Improvements.
(a) Landlord shall complete Landlord's Work and satisfy the Delivery
Conditions as set forth on Exhibits C-1 and C-2 attached hereto, and shall construct and prepare
the Building and the Leased Premises in a manner ready for Tenant to install Tenant's own
#652185v5
007600-0215
I I
I I I
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed UNDER SEAL as of the day and year first above written.
WITNESS/ ATTEST:
WITNESS:
#652185v5
007600-0215
LANDLORD:
GLENWOOD ONE OFFICE, LLC
a Maryland limited liability company
By: (SEAL)
James J. Railey
President, CEO, Heritage roperties, Inc.
Authorized Agent for Glenwood One Office, LLC
TENANT:
ISSUER DIRECT CORPORATION
a Delaware corporation
30
GLENWOOD ONE OFFICE, LLC
RALEIGH, NORTH CAROLINA
AGREEMENT OF LEASE
THIS AGREEMENT OF LEASE (this "Lease") is made as of this ___ day of __ _
2019, by and between GLENWOOD ONE OFFICE, LLC, a Maryland limited liability
company, having a place of business c/o HERITAGE PROPERTIES, INC., 501 Fairmount
Avenue, Towson, Maryland 21286 ("Landlord"), as Landlord, and THE JOHN R. MCADAMS
COMPANY, INCORPORATED, a North Carolina professional corporation, having a place of
business at 2905 Meridian Parkway, Durham, North Carolina 27713 ("Tenant"), as Tenant. The
basic terms of this Lease are found in the Rider to this Lease (labeled Exhibit A) and are
incorporated herein by reference. The date that this Lease is fully executed is the "Effective
Date".
ARTICLE I
PREMISES AND CONSTRUCTION
1. 1. Premises. Landlord hereby leases to Tenant, and Tenant hereby leases from
Landlord, the premises shown, described and located as set forth on the floor plan attached as
Exhibit B (the "Leased Premises") to this Lease consisting of the number of square feet of
rentable floor area indicated in the Rider to this Lease for Suite 201 (the "Rider") in the building
at the property, the improvements on which are known as One Glenwood, located at the corner of
Glenwood Avenue and Hillsborough Street, with a street address of One Glenwood Avenue,
Raleigh, North Carolina 27603 (the "Building") (such land and improvements called the
"Property'') together with necessary access, parking and utility easements to serve the Leased
Premises, and the right to use in common with others the lobby, common entrances, common
stairways, common elevators and other common areas of the Building and Property ( the
"Common Area" or "Common Areas"), upon the terms and conditions stated in this Lease.
(a) Brownfields' Notice. The Property is subject to the Brownfields
Agreement attached as Exhibit A to the Notice of Brownfields Property recorded in the Wake
County land records, Book 16690, Page 2621. Landlord warrants, represents and covenants that
the Property is in compliance with the Brownfields Agreement as of the Effective Date and shall
be in compliance with the Brownfields Agreement as of the date Landlord delivers the Leased
Premises to Tenant and at all times during the Term of this Lease.
1.2. Rentable Area. The useable area of the Leased Premises is eight thousand four
hundred seventy-one (8,471) square feet and has been determined and certified by an architect
selected by Landlord and has been determined in accordance with the Building Owners and
Managers Association, International "Standard Method for Measuring Floor Area in Office
Buildings" (ANSJ/BOMA Z65.1 2010). The rentable area of the Leased Premises has been
calculated by increasing the measured useable area by an agreed upon amount of eighteen and
one-half percent (18.5%). The area as so determined is herein called the "Rentable Area". The
amount of Rentable Area is as set forth in the Rider attached hereto.
#636296v9
007600-0211
PPAB 4421802v5
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed UNDER SEAL as of the day and year first above written.
WITNESS/ ATTEST:
WITNESS:
#636296v9
007600-0211
PP AB 442 I 802v5
LANDLORD:
GLENWOOD ONE OFFICE, LLC
a Maryland limited liabilit~a y
By:--::::~~-~~~~-+--_(SEAL)
James J. Railey
President, CEO, Heritage Prope1 ies, Inc.
Authorized Agent for Glenwood One Office, LLC
TENANT:
THE JOHN R. MCADAMS COMPANY,
INCORPORATED,
a North Carolina professional corporation
By:--la,,o"--L--""------=~~~"-------,,-----CSEAL)
Name: MIC. ~' "'1vcvrJ
Title: ~1~W, 4, C!.£0
35
BOUNDARY OF BROWNFIELDS
PROJECT NUMBER 19078-15-092
BOUNDARY OF BROWNFIELDS
PROJECT NUMBER 22010-18-092.
UNDER REDEVELOPMENT. LETTER
OF ELIGIBITY EXECUTED,
ENVIRONMENTAL MANAGMENT
PLAN EXECUTED, FINALIZING
BROWNFIELDS AGREEMENT WITH
THE STATE OF NC
GLENWOOD TWO, LLC
GLENWOOD TWO, LLC
GLENWOOD ONE
OFFICE, LLC
GLENWOOD ONE
OFFICE, LLC
GLENWOOD ONE
SOUTH, LLC
GLENWOOD ONE
SOUTH, LLC
RALEIGH HOTEL GROUP, LLC -
DIFFERENT MANAGER AND
LURU2019 LAND TRANSFER SUMMARY:
THE WESTERN PROPERTY LINE OF
1 GLENWOOD AVENUE WAS
MODIFIED. NO BUILDINGS ARE
LOCATED IN THE AREAS
TRANSFERED.
HERITAGE PROPERTIES, INC. IS THE MANAGING
MEMBER OF BOTH GLENWOOD ONE OFFICE, LLC
AND GLENWOOD TWO, LLC.
ORIGINAL WESTERN PROPERTY LINE
TRANSFERRED TO
GLENWOOD TWO, LLC
TRANSFERRED TO
GLENWOOD TWO, LLC
STILL OWNED BY GLENWOOD
ONE OFFICE, LLC
DEED BK17691 PG 1678
Corrective deed to add
Brownelds disclaimer to special
warranty deed BK17554, pg 1507
DEED BK17691 PG 1681
Corrective deed to add
Brownelds disclaimer to special
warranty deed BK17543, pg 1911
1
2
PLATS
reference plats cm2019, pg55-56
and bm2019, pg 1373-1374