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Btw, to me the only question relates to the ability to lose the space next door. In this draft we can do it on six months notice but can't give notice until this new agreement kicks in so we are on the hook for the new space for the first six months of the new lease (through 2/2015). I am kind of OK with that but defer to you.

Eric D. Schwerin
eschwerin@rosemontseneca.com

Sent from my iPhone

> On Mar 20, 2014, at 4:22 PM, Eric Schwerin <eschwerin@rosemontseneca.com> wrote:
>
> I don't need an answer on this right now - you can look over later or on the plane tomorrow and get back to me. Would like to just get back to them if we have any comments/changes.
>
>
>
> Eric D. Schwerin
> Rosemont Seneca Partners, LLC
> 1010 Wisconsin Ave., NW
> Suite 705
> Washington, DC 20007
> (202) 333-1880
> eschwerin@rosemontseneca.com
> P Consider the environment before printing this email.
>
> Begin forwarded message:
>
> From: Eric Schwerin <eschwerin@rosemontseneca.com>
> Subject: Lease Terms
> Date: March 19, 2014 at 2:04:34 PM EDT
> To: Hunter Biden <hbiden@rosemontseneca.com>
>
> Got back the lease renewal. Here are the highlights:
>
> 1) Lease runs through January 31, 2017. (I asked for December 2016 and they asked if we could do January 2017 as ending a lease at the end of a calendar year is difficult for them.)
> 2) We get one month's free rent for the first month of the renewal (September 2014).
> 3) We can get rid of Suite 715 (the BD space) with six months notice and only after February 28, 2015. (So we are locked into that space through February 2015.)
> 4) They will pay for construction to close up the space between the two suites - no cost to us.
>
> I am not 100% sure of this but it seems from the lease renewal that the rent has decreased slightly (although there are real estate taxes due on top of rent starting in September 2015 which essentially make it a wash):
>
> Current Rent: $21,024
> September 2014-August 2014: $20,872
> September 2015-August 2016: $21,603
> September 2016-January 2017: $22,359
>
> If we lose Suite 715, the above rent is reduced by $3,753 in the first year.
>
> Thoughts?
>
>
> Eric D. Schwerin
> Rosemont Seneca Partners, LLC
> 1010 Wisconsin Ave., NW
> Suite 705
> Washington, DC 20007
> (202) 333-1880
> eschwerin@rosemontseneca.com
> P Consider the environment before printing this email.
>
>=2