Lease

§2.5 — Unilateral Landlord Termination

Landlord may terminate at any time with 12 months' written notice and zero compensation — even immediately after a million-dollar buildout.

§3.2 — Underground Garage Area TBD

Garage square footage is unconfirmed. Annual and monthly rent totals cannot be calculated until this is finalized before lease execution.

§3.3 — Additional Rent Rates All TBD

Operating cost pass-throughs are open-ended. Historical data and/or annual caps must be obtained for accurate budgeting.

§3.7 — No Audit Right

Landlord's accountant determines Additional Rent and that determination is conclusive. No audit right exists in the current draft.

§4.2 — Double HVAC Cost Risk

SWL installs its own independent HVAC at full cost, yet still pays a Proportionate Share of the Building's HVAC under operating costs.

§4.4 — After-Hours Access Restricted

Common Area access is limited to Normal Business Hours (Mon–Fri). An F&B operation runs primarily evenings and weekends.

§6.4 — Alteration Approval + Review Costs

All renovation plans require Landlord written consent. Tenant bears cost of Landlord's architect review. Factor into buildout budget and timeline.

§6.7 — All Improvements Become Landlord Property

Every dollar of Tenant-funded construction becomes the Landlord's property upon installation. No compensation. Landlord can then terminate with 12 months' notice.

§8.1–8.5 — Assignment & Transfer Restrictions

Landlord can terminate rather than consent to a transfer. Any profit from a transfer must be surrendered. Change-of-control is broadly defined.

§12.6 — Relocation at Landlord Discretion

Landlord may relocate Tenant to a 'substantially similar' space. For an F&B buildout, relocation effectively means a full second construction project.