7.3 SR 03-01-2021 - Laserfiche WebLink

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25.3 Exercise of Options. Each Extension Option shall each be exercisable in the following manner: Tenant shall give Landlord written notice ("Tenant's Extension Notice") of its intention to extend the Term for all or a specified portion of the Building ("Extension Premises") no later than six (6) months prior to the applicable Expiration Date. If Tenant's Extension Notice is not given within the time provided as aforesaid, the current Extension Option and all subsequent Extension Options shall be deemed to have expired and been waived by Tenant. 25.4 Improvements. Subject to Article 26, Landlord shall not be obligated to provide any improvements to the Extension Premises or allowances to Tenant for any improvements to the Extension Premises during any Extension Period. The provisions of this Lease shall govern entirely any Extension Period, except the Monthly Rent shall be as set forth above. 25.5 Existing Default. Tenant may exercise Extension Options, and an exercise thereof shall be effective, only if, at the times of Tenant's Extension Notice, and on the commencement date of the applicable Extension Period, this Lease to Tenant is in full force and effect and no Event of Default is then continuing. 25.6 Documentation. At the request of either party, Landlord and Tenant will execute and deliver a reasonably appropriate document covering extension of the Term and the new Monthly Rent. 25.7 No Separate Interest. The rights of Tenant under this Article 25 shall not be severed from this Lease or separately sold, assigned or transferred, and shall expire on the expiration or earlier termination of this Lease. ARTICLE 26 OPTION TO EXPAND 26.1 Expansion Option. Subject to the provisions hereinafter set forth in this Article 26 and provided no Event of Default exists, Landlord hereby grants Tenant the one-time option (the "Expansion Option") to expand the Building (and the Premises) by an additional area of up to approximately 40,000 square feet (collectively, the "Expansion Area") on the Land (it being understood and agreed that the actual size of the Expansion Area shall be subject to and determined in accordance with any and all Applicable Laws). Tenant may exercise the Expansion Option during the Term and any Extension Period by giving Landlord written notice ("Tenant's Expansion Notice") of its intention to expand the Premises no later than thirty-six (36) months prior to the applicable Expiration Date. 26.2 Expansion Plans and Improvements; Landlord's Construction. (a) In the event Tenant exercises its Expansion Option hereunder, Landlord shall prepare or cause to be prepared, at Landlord's sole cost and expense, preliminary construction drawings and specifications, including an estimated construction cost breakdown (which shall include so-called "soft costs") and a proposed construction schedule (collectively, the "Preliminary Expansion Plans") showing any and all improvements proposed to be constructed with respect to the Expansion Area (the "Expansion Improvements"). Tenant and Landlord will, in good faith, cooperate with each other in the preparation of the Preliminary Expansion 41