MovementMortgage_OM_Sept 5
MMII/
LEASE ABSTRACT
Tenant
Movement Mortgage, LLC
Address Total Size
9726 Old Bailes Road, Indian Land, SC 29707 (Movement Mortgage II)
102,716 SF
Rental Commencement Date
February 1, 2019 January 31, 2031
Expiration Date
Annual Escalations
±2% each February 1st
Start /End of Lease Year
Payment
Start /End of Lease Year 2/1/2025 1/31/2026 2/1/2026 1/31/2027 2/1/2027 1/31/2028 2/1/2028 1/31/2029 2/1/2029 1/31/2030 2/1/2030 1/31/2031
Payment
$1,673,897 $1,707,375 $1,741,522 $1,776,353 $1,811,880 $1,848,118
$1,885,080 $1,922,781 $1,961,237 $2,000,462 $2,040,471 $2,081,281
2/1/2019 1/31/2020 2/1/2020 1/31/2021 2/1/2021 1/31/2022 2/1/2022 1/31/2023 2/1/2023 1/31/2024 2/1/2024 1/31/2025
Annual Payments
Lease Type
NNN
Real Estate Taxes
T shall reimburse LL for all property taxes
Insurance
T shall reimburse LL for insurance
T, at its sole cost and expense, will keep and maintain the premises in a condition and state of repair of a first class building. T will (a) keep the interior and exterior of the premises (including paving, parking areas and all landscaping), together with all electrical, plumbing, heating, ventilating, air-conditioning, fire pump, exterior storm drain systems, irrigation systems and other mechanical systems, in good order and repair, including normal and customary preventive maintenance will make all replacements from time to time. If T is required to replace the HVAC systems or the elevators for the building during the last two (2) years of the initial term or the last year of any option term, the upon the expiration of the term LL shall reimburse tenant for the unamortized portion of the cost of any such replacement. LL shall be responsible for the repair and maintenance of the roof, load bearing walls, slab foundation, and other structural elements of the premises, and underground utility lines serving the premises located beneath the building slab. T shall be solely responsible for and promptly pay all charges for water, sewer, electricity, telephone and any other utility used or consumed. At LL's request, T shall deliver to LL (i) unaudited quarterly financial statements of T prepared in accordance with GAAP within forty-five (45) days from the end of the requested fiscal quarter of T and (ii) audited annual consolidated financial statements within one hundred thirty five (135) days from the end of the requested fiscal year of T. T shall have option to extend for three (3) five (5) year periods. For Option Term One, Annual Basic Rental for each rental year shall continue to increase by 2%. For Option Term Two and Option Term Three, Annual Basic Rental shall be an amount equal to 90% of Fair Market Value. T must give LL written notice nine (9) months prior.
Tenant R&M
LL R&M
Utilities
Tenant Financials
Renewal Option
MOVEMENT MORTGAGE HEADQUARTERS / CHARLOTTE MSA
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