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. JUL-12-96 FRI 09:39 AM THE SCHOENING GROUP FAX NO. 9201369 P, 03 � l • SAV 11 Lease Extension: Tenant shall have the right to continue its occupancy an of the existing liquor store at Apache Plaza-upon the same terms and conditions until occupancy of the new space. Construction of Tenant Landlord(or its designated eonmitant) agrees to coordinate Leasehold Improvements: gonstruction of Tenant leasehold improvements("Landlord Work"). The fmal construction plans and spedfications for Landlord's Work shall be subject to the written approval of Tenant,which shall not be unreasonably withheld and shall be deemed given if not given to Landlord within 15 days after they are submitted to Tenant. Taldng possession by Tenant of the Premises shall be conclusively deemed to establish that Landlord's Work has been completed and that the Premises are in good and satisfactory condition and are in compliance with the terms of this lease, as of the date possessiou was so takcn by Tenant. Tenant shall select the general contractor and shall be a third party beneficiary to a construction contract with Landlord_ Base Rentalt $ 9.50 net per square foot(Years 1-5) $10.00 net per square foot (Years 6-10) • $10.50 net per square foot(Years 11-15) Leasehold-Improvement Landlord shall provide it leasehold improvement allowanoe Allowance: up to $367,000 for completion of architectural drawings and installation of permanent improvements to the Premises. Tenant shall be responsible for all costs in excess of the leasehold improvement allowance of$367,000. Base Rental Reduction; In the event Tenant contributes$100,000 towards Leasehold Improvements(thereby reducing Landlord's Leasehold Improvement obligation by$100,000), Tenant's biitial Base Rent shall be adjusted to: $8.00 net per square foot(Years 1-5) $8.50 net per square foot(Years 6-10) $9.00 net per square foot(Years 11-1S) In the event Tenant contributes$200,000 towards Leasehold Improvements(thereby reducing Landlord's Leasehold Improvement obligation by$200,000), Tenant's Initial Base Rent shall be adjusted to: • $6,25 net per square foot(YeArS 1.5) $6.75 net per square foot (Years 6-10) $7.25 net per square foot(Years 11-15)