Exhibit 10.60
CUMMINGS PROPERTIES, LLC
STANDARD FORM
AMENDMENT TO LEASE # 8
In connection with a lease currently in effect between the parties at 100 Sylvan
Road, Suites 100, 110, 550, 575, P-100, P-200 and the outside area described in
Amendment to Lease #7, Woburn, Massachusetts, executed on January 24, 1996 and
terminating February 28, 2001, and in consideration of the mutual benefits to be
derived here from, Cummings Properties, LLC, LESSOR, and Boston Communications
Group, Inc., LESSEE, hereby agree to amend said lease as follows:
1. Effective April 1, 2000, the size of the leased premises was decreased
by approximately 165 square feet (including 3.25% common area), from
approximately 38,970 square feet (including 3.25% common area), to a new
total of approximately 38,805 square feet (including 3.25% common area),
with the relinquishment of the hatched area shown on the attached plan
dated June 23, 2000. (In addition, the leased premises also includes
approximately 3,955 square feet of outside area.) Accordingly, a rent
credit of $726 for the period from April 1, 2000 to July 30, 2000, shall be
applied towards rent for August 2000, and the base rent has been adjusted
below to reflect this change on a continuing basis.
2. In addition, as of the effective date of this amendment, the size of the
leased premises is hereby increased by approximately 3,465 square feet
(including 3.25% common area), from approximately 38,805 square feet
(Including 3.25% common area) with the addition of 100 Sylvan Road, Suite
625 ("Suite 625") as shown on the attached plan dated June 22, 2000. The
leased premises now consists of a new total of approximately 42,270 square
feet (including 3.25% common area) and approximately 3,955 square feet of
outside area.
3. The security deposit is hereby increased by $27,500 from $80,000 to a new
total of $107,500. LESSOR shall transfer to the lease $27,500 of the
$67,900 security deposit held by LESSOR under a prior lease between the
parties at 100 Sylvan Road, Suite G-600 and shall refund to LESSEE the
$40,400 remaining security deposit balance, less any deductions which may
be made in accordance with said prior lease.
4. The amendment shall be contingent on the full execution of a lease between
LESSOR and National Leisure Group, Inc. for the ground floor portion of 100
Sylvan Road, Suite G-600.
5. Provided LESSEE is not then in default of this lease or in arrears of any
rent or invoice payments, LESSEE shall have the one-time right of first
lease of approximately 15,999 square feet (including 3.25% common area) of
additional space at 100 Sylvan Road, Suite G-600 and or approximately 5,375
square feet (including 3.25% common area) of additional space at 100 Sylvan
Road, Suite 500 at LESSOR's then current published rental rate for said
spaces as each becomes available for lease directly from LESSOR, subject to
the right of the current lessees (if any) to extend or otherwise
renegotiate their leases. In both cases, LESSEE shall have 48 hours from
receipt of notice from LESSOR of said availability to execute LESSOR's then
current standard form lease or amendment to lease for said additional
spaces. If in either case LESSOR fails to notify LESSEE of the availability
of said spaces and leases said spaces to others, and if LESSEE notifies
LESSOR of its desire to lease either such space and immediately executes
LESSOR's then current standard form lease for such space, then LESSOR shall
have 60 days to relocate the other party. If in either case LESSOR fails to
relocate the other party within said 60 day relocation period and execute
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the new lease or amendment to lease with LESSEE, then LESSEE may elect, by
serving LESSOR written notice within 30 days after expiration of the
relocation period, to occupy a similar amount of additional space on a
no-charge basis until such time as LESSOR delivers possession of the suite
in question. This shall be LESSEE's exclusive remedy for any failure by
LESSOR to deliver possession of the corresponding suites or any breach by
LESSOR of the provisions of this section. Time is of the essence.
6. In the event 100 Sylvan Road, Suite G-600 becomes available for lease
directly from LESSOR and LESSEE does not exercise LESSEE's right of first
lease as described above, LESSOR may decrease the size of the leased
premises by 3,465 square feet (including 3.25% common area) by taking back
possession of 100 Sylvan Road, Suite 625, for any reason or no reason at
all, by serving LESSEE with 30 days prior written notice to the effect. In
the event LESSOR elects to take back Suite 625, the annual base rent for
the then remaining lease term shall be decreased by $49,654, the adjusted
base rent shall be recalculated based on this decreased annual base rent,
and LESSEE shall vacate Suite 625 within said 30-day notice period. Any
extended occupancy of said facility beyond this required date for vacating
shall be governed by Section 21 of the lease. LESSEE shall upon vacating be
responsible for any damage to Suite 625 in accordance with the lease and
shall promptly pay any just invoice therefor. Time is of the essence.
7. Pursuant to Section 3 of Amendment to Lease #7 dated October 18, 1999,
LESSEE shall complete the modifications to the outside area by September
30, 2000.
This amendment shall not bind either party in any manner until it has been
executed by both parties. All other terms, conditions and covenants of the
present lease shall continue to apply except that adjusted base rent shall be
increased by $148,167 annually, from a total of $501,085.37 to a new annual
total of $649,252.37 or $54,104.36 per month. Annual base rent for purposes of
computing any future escalations thereon shall be $587,558.71. The amendment
shall be effective July 30, 2000 and shall continue through the balance of the
lease and any extensions thereof unless further modified by written
amendment(s).
In Witness Whereof, LESSOR and LESSEE have hereunto set their hands and common
seals this 20th days of July, 2000.
LESSOR: Cummings Properties, LLC LESSEE: Boston Communications Group, Inc
By: s/s Douglas Stephens By: s/s Fritz von Mering
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CUMMINGS PROPERTIES,LLC
STANDARD FORM
LEASE TERMINATION
In connection with a lease currently in effect between the parties at 100 Sylvan
Road, Suite G-600, Woburn, Massachusetts, executed on June 3, 1999 and
terminating June 30, 2004, and in consideration of one dollar ($1.00) and other
mutual benefits to be derived herefrom, Cummings Properties, LLC, LESSOR, and
Boston Communications Group, Inc., LESSEE, hereby agree to terminate said lease
as follows:
1. The Effective Date of the termination agreement shall be July 30, 2000.
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2. On or before the Effective Date, LESSEE will surrender the leased
premises to LESSOR as provided in Sections 10 and 27 of the lease
vacant and in good order and condition, ordinary wear and tear only
excepted. LEESSEE and LESSOR agree that time is of the essence.
3. As of the Effective Date, the lease shall be canceled and terminated
and of no further force or effect, as if said date was the date
originally provided for the expiration of the lease, and LESSEE shall
release LESSOR and the owner (OWNER) of the building of which the
leased premises are a part from any and all damages, liabilities,
obligations, claims and causes of action arising in any way out of the
lease or LESSEE's occupancy of the leased premises, and agrees not to
commence any lawsuit against LESSOR or OWNER in connection with any
such matter.
4. LESSEE shall indemnify and hold LESSOR and OWNER harmless from any
losses incurred by LESSOR as a result of LESSEE's failure to vacate the
leased premises on or before the Effective Date, from any losses
incurred by LESSOR on account of the condition of the leased premises
and from any claim brought by third parties against LESSOR, OWNER or
LESSEE in connection with the lease or LESSEE'S OCCUPANCY OF THE LEASED
PREMISES.
5. Upon execution of this agreement, LESSEE agrees to forfeit the security
deposit and to pay to LESSOR the additional sum of THIS PARAGRAPH DOES
NOT APPLY dollars.
6. In addition to any other amount due hereunder and notwithstanding any
statement herein to the contrary, LESSEE shall pay LESSOR any
additional rent owing due to any increase in real estate taxes as
provided in Section 4 of the lease and any other charges incurred
through the Effective Date.
7. If LESSEE fails to comply satisfactorily with all the terms herein,
LESSOR shall have the right, without notice, to declare this agreement
null and void, and any payments made hereunder shall then be applied in
full to rental payments due or to any subsequent judgment awarded under
the lease. In that event, this agreement shall not be used in any way
to prejudice or mitigate LESSOR's claim and shall not be construed as
anything other than a good faith effort to compromise.
8. This agreement shall be binding upon all the parties to the lease, their
legal representatives, successors and assigns.
9. This Lease Termination shall be contingent on the full execution of an
amendment between LESSEE and LESSOR adding 100 Sylvan Road, Suite 625 to a
separate lease between parties.
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In Witness Whereof, LESSOR and LESSEE have hereunto set their hands and common
seals this 20th day of July, 2000.
LESSOR: Cummings Properties, LLC LESSEE: Boston Communications Group, Inc.
By: s/s Douglas Stephens By: s/s Fritz von Mering
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