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LEASE AGREEMENT
<br />THIS LEASE AGREEMENT ("Lease') is made and entered into this 7" day of June, 2022 (the "Effective
<br />Date") by and between Del JaCava/Tebo Development Co., LLC, its successors and assigns ("Lessor") and The City
<br />of Louisville, a Colorado Municipality ("Lessee").
<br />WITNESSETH:
<br />That in consideration of the payment of rents and the keeping and performance of the agreements and
<br />covenants by the Lessee hereinafter set forth, Lessor, hereby demises and leases unto Lessee the following described
<br />premises commonly known as 1805 Highway 42, Suite 100, Louisville, Colorado, as herein described in Exhibit
<br />"X", being approximately 3,325 rentable square feet, together with the non-exclusive right and privilege of common
<br />parking areas, if any (the "Leased Premises" or "Premises").
<br />TO HAVE AND TO HOLD the same for a period which commences on the Commencement Date (as
<br />hereinafter defined) and ends Eighty -Six (86) calendar months at 5 PM from and after the Commencement Date.
<br />The "Commencement Date" shall be the date that Lessor substantially completes Lessor's Work (as hereinafter
<br />defined). If not earlier confirmed, within ten (10) days after the Commencement Date, the parties will enter a letter
<br />agreement which confirms the date of the Commencement Date and restates the rent schedule as set forth in Article
<br />1. This Lease shall be binding as of the Effective Date and Lessee shall be permitted access to the Leased Premises
<br />as of the Effective Date for purposes of installing cabling and furniture.
<br />ARTICLE 1: RENT
<br />Lessee covenants and agrees to pay as rental for the full term of this Lease the base rent of not less than
<br />Four Hundred Twenty Thousand Four Hundred Eight and 001100 Dollars ($420,408.00), plus NNN expenses and
<br />utilities, payable as follows each month of the Lease term:
<br />Commencement Date thru the 601 day following the Commencement Date, $0.00 per month base rent, provided,
<br />however, Lessee agrees to pay for all NNN expenses and utilities during this period.
<br />Beginning of Month 3 thru the end of the 14'h month following the Commencement Date, $4,572.00 per month base
<br />rent plus NNN expenses plus utilities.
<br />Beginning of Month 15 thru the end of the 2611 month following the Commencement Date, $4,710.00 per month
<br />base rent plus NNN expenses plus utilities.
<br />Beginning of Month 27 thru the end of the 381 month following the Commencement Date, $4,850.00 per month
<br />base rent plus NNN expenses plus utilities.
<br />Beginning of Month 39 thru the end of the 501h month following the Commencement Date, $4,996.00 per month
<br />base rent plus NNN expenses plus utilities.
<br />Beginning of Month 51 thru the end of the 62" month following the Commencement Date, $5,146.00 per month
<br />base rent plus NNN expenses plus utilities.
<br />Beginning of Month 63 thru the end of the 741h month following the Commencement Date, $5,300.00 per month
<br />base rent plus NNN expenses plus utilities.
<br />Beginning of Month 75 thru the end of the 861h month following the Commencement Date, $5,460.00 per month
<br />base rent plus NNN expenses plus utilities.
<br />Contemporaneously with the execution of this Lease, Lessee shall pay to Lessor the sum of $6,422.00 by check
<br />renre-ze-ntinu Lessee's navment of base rent and NNN exvenses for Month 3. Payment of rental installments shall be
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<br />made to DellaCava/Tebo Development Co., LLC, c/o TEBO PROPERTIES, P. O. Box T, Boulder, Colorado 80306-
<br />1966, or at such other address as Lessor may in writing direct, provided, except for any prepaid rent and/or the
<br />security deposit, if applicable, which shall be paid by check, Lessee shall pay all rent and other charges due under this
<br />Lease by ACH electronic payment as follows:
<br />Prior to the beginning of Month 3, Lessee shall complete the process established by Lessor for Lessee's payment
<br />by ACH. Lessee shall (a) provide the requested information included below Lessee's signature block set forth at the
<br />end of this Lease, andlor email the following information to ar(@ hebo2roperties.com: billing e-mail address and phone
<br />3n-12020 MOM Apt_
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<br />W_ I Lessee Less t
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