THIS LEASE (this "Lease") is made as of July 10, 2000 by and between Genesis Partners, LLC of Bozeman, Montana, herein referred to as "Landlord", and Right Now Technologies, Inc., a Montana corporation, of Bozeman, Montana, hereinafter referred to as "Tenant".
WITNESSETH:
1. Leased Property. Landlord hereby leases to Tenant the office building located on the real property in Gallatin County, Montana more particularly described on attached Exhibit A whose address is 40 Enterprise Blvd., Bozeman, Montana, consisting of approximately 29,724 square feet together with (i) the non-exclusive right of ingress and egress for Tenant and its employees, agents, invitees and contractors between the building and the nearest public streets as depicted on attached Exhibit B, and (ii) the right to use the parking as depicted on attached Exhibit A for its employees, agents, invitees and contractors in common with others (the "premises"). Landlord represents and agrees that the parking lot will provide, at all times during the term of this Lease, a parking ratio of not less than 3.5 spaces per 1000 square feet of rent able square footage in buildings whose tenants are or will be using the parking lot.
2. Terms of Lease. The primary term of this Lease shall be for one hundred twenty (120) months commencing on the day the Temporary Occupancy Permit is obtained from the City of Bozeman, estimated to be approximately 1st day of April, 2001, and ending one hundred twenty (120) months later, or sooner terminated as herein provided.
3. Option to Extend. Upon expiration of the primary term of this Lease, Tenant is granted an option to extend the term of this Lease for one (1) additional one hundred twenty (120) month period, (an "extension term") upon the same terms and conditions as are included in this Lease, subject, however, to renegotiation of the rent provided in paragraph 4 of this Lease. The primary term and the extension terms will be collectively referred to in this Lease as the "term." Tenant shall notify Landlord within not less than one hundred twenty (120) days prior to the expiration of the primary term of this Lease or prior to the expiration of each extension term of Tenant's exercise of its option to extend this Lease, provided that in the circumstances described in paragraph 13, the options to extend the term may be exercised earlier as provided in paragraph 13, and if the option to extend is exercised earlier as provided in paragraph 13, nevertheless, the rental payable as provided in paragraph 4 shall be determined at the time and in the manner provided in paragraph 4 and this paragraph 3. During the following sixty (60) day period, Tenant and Landlord shall negotiate and arrive at an agreement or disagreement of the amount of rent to be paid during the applicable extension term. If Landlord and Tenant agree upon the rent to be paid during the applicable extension term, Landlord and Tenant shall at the end of the sixty (60) day period enter into a new written lease or an amendment agreement setting forth the amount of rental Tenant shall be required to pay pursuant paragraph 4 for the applicable extension term and any other additional terms to which Landlord and Tenant have agreed. If Tenant and Landlord fail to agree upon the rent to be paid during the applicable extension term during the sixty (60) day period of negotiations, a fair market appraisal comparison of comparable properties will be completed by an independent party upon which the Landlord and Tenant may use to negotiate the amount of rent to be paid during the applicable extension term. If Tenant and Landlord fail to agree upon the rent to be paid during the applicable extension term during the sixty (60) day period of negotiations, either Landlord or Tenant may, by written notice to the other party given within the ensuing thirty (30) day period, elect to invoke the arbitration provisions of this Lease to determine the rent Tenant shall be required to pay pursuant to paragraph 4 for the applicable extension term.
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