INDUSTRIAL LEASE
-XXX-XXX-XXX-
0. PARTIES. This Lease, dated for reference purposes
only, July 13, 1977 is made by and between Larvan Properties, A
General Partnership (herein called "Landlord") and Larse
Corporation A California Corporation (herein called "Tenant").
2. PREMISES. Landlord hereby leases to Tenant and
Tenant leases from Landlord for the term, at the rental, and upon
all of the conditions set forth herein, that certain real
property situated in the City of Santa Xxxxx, County of Santa
Xxxxx, State of California commonly known as Xxxxxxx Xxxxx Drive,
Santa Clara, California and described as Approximately 30,094
square feet of a 49,837 square foot building to be constructed on
Parcel #17 of Marriott Business Park and further identified in
Exhibit "A" on the attached hereto. Said real property,
including the land and all improvements thereon, is herein called
"the Premises".
3. TERM.
3.1 TERM. The term of this Lease shall be for ten (10)
years, commencing on December 1, 1977 and ending on December 31,
1987 unless sooner terminated pursuant to any provision hereof.
3.2 DELAY IN COMMENCEMENT. Notwithstanding said
commencement date, if for any reason Landlord cannot deliver
possession of the Premises to Tenant on said date, Landlord shall
not be subject to any liability therefor, nor shall such failure
affect the validity of this Lease or the obligations of Tenant
hereunder or extend the term hereof, but in such case Tenant
shall not be obligated to pay rent until possession of the
premises is tendered to Tenant; provided, however, that if
Landlord shall not have delivered possession of the Premises
within ninety (90) days from said commencement date, Tenant may,
at Tenant's option, by notice in writing to Landlord within ten
(10) days thereafter, cancel this Lease. If Landlord shall not
have delivered possession of the Premises within one (1) year
from said commencement date, Landlord may, by notice in writing
to the Tenant within (10) days thereafter, cancel the Lease. If
either party cancels as hereinabove provided, Landlord shall
return any monies previously deposited by Tenant and the parties
shall be discharged from all obligations hereunder.
3.3 EARLY POSSESSION. In the event that Landlord shall
permit Tenant to occupy the Premises prior to the commencement
date of the term, such occupancy shall be subject to all of the
provisions of this Lease. Said early possession shall not
advance the termination date of this Lease.
3.4 DELIVERY OF POSSESSION. Tenant shall be deemed to
have taken possession of the Premises when any of the following
occur: (a) Landlord delivers possession of the Premises to
Tenant and a Certificate of Occupancy is granted by the proper
governmental agency, or (b) upon a Certificate from the
Landlord's architect or contractor that the Premises are ready
for occupancy.
4. RENT.
4.1 Tenant shall pay to Landlord as rent for the
Premises equal monthly installments of Eight Thousand One Hundred
Twenty-Five and no/100 ($8,125.00) Dollars, in advance, on the
first day of each month of the term hereof. Tenant shall pay
Landlord upon the execution hereof the sum of Eight Thousand One
Hundred Twenty-Five and no/100 ($8,125.00) Dollars as rent for
the period from December 1, 1977, through December 31, 1977 the
total rental for the lease term being $975,000.00. Rent for any
period during the term hereof which is less than one month shall
be a pro rata portion of the monthly installment. Rent shall be
payable without notice or demand and without any deduction,
offset, or abatement in lawful money of the United States of
America to Landlord at the address stated herein or to such other
persons or at such other places as Landlord may designate in
writing.
4.2 ADDITIONAL CHARGES. This Lease is what is commonly
called a "net lease", it being understood that Landlord shall
receive the rent set forth in Article 4.1 free and clear of any
and all impositions, taxes, real estate taxes, liens, charges or
expenses of any nature whatsoever in connection with the
ownership and operation of the Premises. In addition to the rent
reserved by Article 4.1, Tenant shall pay to the parties
respectively entitled thereto all impositions, insurance
premiums, operating charges, maintenance charges, construction
costs, and any other charges, costs and expenses which arise or
may be contemplated under any provisions of this Lease during the
term hereof. All of such charges, costs and expenses shall
constitute additional charges, and upon the failure of Tenant to
pay any of such costs, charges or expenses, Landlord shall have
the same right and remedies as otherwise provided in this Lease
for the failure of Tenant to pay rent. It is the intention of
the parties hereto that this lease shall not be terminable for
any reason by the Tenant and that the Tenant shall in no event be
entitled to any abatement of or reduction in rent payable
hereunder, except as herein expressly provided. Any present or
future law to the contrary shall not alter this agreement of the
parties.
5. SECURITY DEPOSIT. Tenant shall deposit with
Landlord upon execution hereof the sum of Eight Thousand One
Hundred Twenty Five (8,125.00) Dollars as security for Tenant's
faithful performance of Tenant's obligations hereunder. If
Tenant's fails to pay rent or other charges due hereunder, or
otherwise defaults with respect to any provision of this Lease,
Landlord may use, apply or retain all or any portion of said
deposit for the payment of any rent or other charge in default or
for the payment of any other sum to which Landlord may become
obligated by reason of Tenant's default, or to compensate
Landlord for any loss or damage which Landlord may suffer
thereby. If Landlord uses or applies all or any portion of said
deposit, Tenant shall within (10) days after written demand
therefor deposit cash with Landlord in an amount sufficient to
restore said deposit to the full amount hereinabove stated and
Tenant's failure to do so shall be a breach of this Lease, and
Landlord may at his option terminate this Lease. Landlord shall
not be required to keep said deposit separate from its general
accounts. If Tenant performs all of Tenant's obligations
hereunder, said deposit or so much thereof as had not theretofore
been applied by Landlord, shall be returned, without payment of
interest or other increment for its use, to Tenant (or, at
Landlord's option, to the last assignee, if any of Tenant's
interest hereunder) within fifteen (15) days after the expiration
of the term hereof, or after Tenant has vacated the Premises,
whichever is later.
6. USE.
6.1 USE. The Premises shall be used and occupied only
for manufacturing of electronics products and other legal related
uses.
6.2 COMPLIANCE WITH LAW. Tenant shall, at Tenant's
expense, comply promptly with all applicable statutes,
ordinances, rules, regulations, orders and requirements in effect
during the term or any part of the term hereof regulating the use
by Tenant of the Premises. Tenant shall not use or permit the
use of the Premises in any manner that will tend to create waste
or a nuisance, or, if there shall be more than one tenant of the
building containing the Premises, which shall tend to
unreasonably disturb such other tenants.
6.3 CONDITION OF PREMISES. Tenant hereby accepts the
Premises in their condition existing as of the date of the
possession hereunder, subject to all applicable zoning,
municipal, county and state laws, ordinances and regulations
governing and regulation the use of the Premises, and accepts
this lease subject thereto and to all matters disclosed thereby
and by any exhibits attached hereto. Tenant acknowledges that
neither Landlord nor Tenant's agent has made any representation
or warranty as to the suitability of the Premises for the conduct
of Tenant's business.
6.4 INSURANCE CANCELLATION. Notwithstanding the
provisions of Article 6.1 hereinabove, no use shall be made or
permitted to be made of the Premises nor acts done which will
cause the cancellation of any insurance policy covering said
Premises or any building of which the Premises may be a part, and
if Tenant's use of the Premises causes an increase in said
insurance rates Tenant shall pay any such increase.
6.5 LANDLORD'S RULES AND REGULATIONS. Tenant shall
faithfully observe and comply with the rules and regulations that
Landlord shall from time to time promulgate. A copy of said
rules and regulations is attached hereto. Landlord reserves the
right from time to time to make all reasonable modifications to
said rules and regulations. The additions and modifications to
those rules and regulations shall be binding upon Tenant upon
delivery of a copy of them to Tenant. Landlord shall not be
responsible to Tenant for the nonperformance of any of said rules
and regulations by any other tenants or occupants.
7. MAINTENANCE, REPAIRS AND ALTERATIONS.
7.1 SURRENDER. On the last day of the term hereof, or
on any sooner termination, Tenant shall surrender the Premises to
Landlord in good condition, broom clean, ordinary wear and tear
excepted. Tenant shall repair any damage to the Premises
occasioned by its use thereof, or by the removal of Tenant's
trade fixtures, furnishings and equipment pursuant to Article
7.4(c), which repair shall include the patching and filing of
holes and repair of structural damage.
7.2 LANDLORD'S RIGHTS. If Tenant fails to perform
Tenant's obligations under this Article 7 or Article 2.1 Landlord
may at its option (but shall not be required to) enter upon the
Premises, after ten (10) days' prior written notice to Tenant,
and put the same in good order, condition and repair, and the
cost thereof together with interest thereon at the rate of ten
(10%) percent per annum shall become due and payable as
additional rental to Landlord together with Tenant's next rental
installment.
7.3 ALTERATIONS AND ADDITIONS.
(a) Tenant shall not, without Landlord's prior written consent,
make any alterations, improvements, or additions in, on or about
the Premises, except for non-structural alterations not exceeding
$1,000 in cost. As a condition to giving such consent, Landlord
may require that Tenant remove any such alterations,
improvements, additions or utility installations at the
expiration of the term, and to restore the Premises to their
prior condition.
(b) Before commencing any work relating to alterations,
additions and improvements affecting the Premises, Tenant shall
notify Landlord in writing of the expected date of commencement
thereof. Landlord shall then have the right at any time and from
time to time to post and maintain on the Premises such notices as
Landlord reasonably deems necessary to protect the Premises and
Landlord from mechanics' liens, materialmen's liens or any other
liens. In any event, Tenant shall pay, when due, all claims for
labor or material furnished to or for Tenant at or for use in the
Premises. Tenant shall not permit any mechanics' or
materialmen's liens to be levied against the Premises for any
labor or material furnished to Tenant or claimed to have been
furnished to Tenant or to Tenant's agents or contractors in
connection with work of any character performed or claimed to
have been performed on the Premises by or at the direction of
Tenant.
(c) Unless Landlord requires their removal, as set
forth in Article 7.4(a), all alterations, improvements or
additions which may be made on the Premises, shall become the
property of Landlord and remain upon and be surrendered with the
Premises at the expiration of the term. Notwithstanding the
provisions of this Article 7.4(c). Tenant's machinery,
equipment and other trade fixtures other than than which is
affixed to the Premises so that it cannot be removed without
material damage to the Premises, shall remain the property of
Tenant and may be removed by Tenant subject to the provisions of
Article 7.2.
8. INSURANCE INDEMNITY.
8.1 INSURING PARTY. As used in this Article 8, the
term "insuring party" shall mean the party who has the obligation
to obtain the insurance required hereunder. The insuring party
in this case shall be designated in Article 20. Whether the
insuring party is the Landlord or the Tenant, Tenant shall, at
additional rent for the Premises, pay the cost of all insurance
required hereunder. If Landlord is the insuring party Tenant
shall, within ten (10) days following demand by Landlord,
reimburse Landlord for the cost of the insurance so obtained.
8.2 LIABILITY INSURANCE. The Tenant shall obtain and
keep in force during the term of this Lease a policy of
comprehensive public liability insurance insuring Landlord and
Tenant against any liability arising out of the ownership, use,
occupancy or maintenance of the Premises and all areas
appurtenant thereto. Such insurance shall be in an amount of not
less than $300,000 for injury to or death of one person in any
one accident or occurrence and in an amount of not less than
$500,000 for injury to or death of more than one person in any
one accident or occurrence. Such insurance shall further insure
Landlord and Tenant against liability for property damage of at
least $50,000. The limits of said insurance shall not, however,
limit the liability of Tenant hereunder. In the event that the
Premises constitute a part of a larger property said insurance
shall have a Landlord's Protective Liability endorsement attached
thereto. If the Tenant shall fail to protect and maintain said
insurance the Landlord may, but shall not be required to, procure
and maintain the same, but at the expense of Tenant.
8.3 PROPERTY INSURANCE. The insuring party shall
obtain and keep in force during the term of this Lease a policy
or policies of insurance covering loss or damage to the Premises,
in the amount of the full replacement value thereof, providing
protection against all perils included within the classification
of fire, extended coverage, vandalism, malicious mischief,
special extended perils (all risk) and sprinkler leakage. Said
insurance shall provide for payment for loss thereunder to
Landlord or to the holder of a first mortgage or deed of trust on
the Premises. If the insuring party shall fail to procure and
maintain said insurance the other party may, but shall not be
required to, procure and maintain the same said insurance the
other party may, but shall not be required to, procure and
maintain the same, but at the expense of Tenant.
8.4 INSURANCE POLICIES. Insurance required hereunder
shall be in companies rated A+, AAA or better in "Best's
Insurance Guide". The insuring party shall deliver prior to
possession to the other party copies of policies of such
insurance or certificates evidencing the existence and amount of
such insurance with loss payable clauses satisfactory to
Landlord. No such policy shall be cancellable or subject to
reduction of coverage or other modification except after ten (10)
days' prior written notice to Landlord. If Tenant is the
insuring party, Tenant shall, within ten (10) days prior to the
expiration of such policies, furnish Landlord with renewals or
"binders" thereof, or landlord may order such insurance and
charge the cost thereof to Tenant, which amount shall be payable
by tenant upon demand. Tenant shall not do or permit to be done
anything which shall invalidate the insurance policies referred
to in Article 8.3. Tenant shall forthwith, upon Landlord's
demand, reimburse Landlord for any additional premiums
attributable to any act or omission or operation of Tenant
causing such increase in the cost of insurance. If Landlord is
the insuring party, and if the insurance policies maintained
hereunder cover other improvements in addition to the Premises,
Landlord shall deliver to Tenant a written statement setting
forth the amount of any such insurance cost increase and showing
in reasonable detail the manner in which it has been computed.
8.5 WAIVER OF SUBROGATION. Tenant and Landlord each
waives any and all rights of recovery against the other, or
against the officers, employees, agents and representatives of
the other, for loss of or damage to such waiving party or its
property of others under its control, where such loss or damage
is insured against under any insurance policy in force at the
time of such loss or damage. Tenant and Landlord shall, upon
obtaining the policies of insurance required hereunder, give
notice to the insurance carriers that the foregoing mutual waiver
of subrogation is contained in this Lease.
8.6 HOLD HARMLESS. Tenant shall indemnify, defend and
hold Landlord harmless from any and all claims arising from
Tenant's use of the Premises or from the conduct of its business
or from any activity, work or things which may be permitted or
suffered by Tenant in or about the Premises and shall further
indemnify, defend and hold Landlord harmless from and against any
and all claims arising from any breach or default in the
performance of any obligation on Tenant's part to be performed
under the provision of this Lease or arising from any negligence
of Tenant or any of its agents, contractors, employees or
invitees and from any and all costs, attorneys' fees, expenses
and liabilities incurred in the defense of any such claim or any
action or proceeding brought thereon Tenant hereby assumes all
risk of damage to property or injury to persons in or about the
Premises from any cause, and Tenant hereby waives all claims in
respect thereof against Landlord, excepting where said damage
arises out of negligence of Landlord.
8.7 EXEMPTION OF LANDLORD FROM LIABILITY. Tenant
hereby agrees that Landlord shall not be liable for injury to
Tenant's business or any loss of income therefrom or for damage
in the goods, wages, merchandise or other property of Tenant,
Tenant's employees, invitees, customers, or any other person in
or about the Premises, nor, unless through its negligence shall
Landlord be liable for injury to the person of Tenant, Tenant's
employees, agents or contractors and invitees, whether such
damage or injury is caused by or results from fire, steam,
electricity, gas, water or rain, or from the breakage,
obstruction or other defects of pipes, sprinklers, wires,
appliances, plumbing, air conditioning or lighting fixtures, or
from any other cause, whether the said damage or injury results
from conditions arising upon the premises or upon other portions
of the building of which the Premises are a part, or from other
sources or places, and regardless of whether the cause of such
damage or injury or the means of repairing the same is
inaccessible to Landlord or Tenant. Landlord shall not be liable
for any damages arising from any act or neglect of any other
tenant, if any, of the building in which the Premises are
located.
9. DAMAGE OR DESTRUCTION.
9..1 In the event the improvements on the Premises are
damaged or destroyed, partially or totally, from any cause
whatsoever, whether or not each damage or destruction is covered
by any insurance required to be maintained under Article B, the
Tenant shall repair, restore, and rebuild the Premises to their
condition existing immediately prior to such damage or
destruction and this Lease shall continue in full force and
effect. Such repair, restoration and rebuilding (all of which
are herein called the "repair") shall be commenced within a
reasonable time after such damage or destruction and shall be
diligently prosecuted to completion. There shall be no abatement
of rent or of any other obligation of Tenant hereunder by reason
of such damage or destruction. The proceeds of any insurance
maintained under Article 8.3 shall be made available to Tenant
for payment of the cost and expense of the repair, provided,
however, that such proceeds may be made available to Tenant
subject to reasonable conditions including, but not limited to,
architect's certification of costs and retention of a percentage
of such proceeds pending final notice of completion. In the
event that such proceeds are not made available to Tenant within
ninety (90) days after such damage or destruction. Tenant shall
have the option for thirty (30) days commencing on the expiration
of such ninety (90) day period of cancelling this Lease. If
Tenant shall exercise such option, Tenant shall have no further
obligation hereunder and shall have no further claim against
Landlord; provided, however, that Landlord shall return to Tenant
so much of tenant's security deposit as has not theretofore been
applied by Landlord. Tenant shall exercise such option by
written notice to Landlord within said thirty (30) day period.
In the event that the insurance proceeds are insufficient to
cover the cost of the repair, then any amount in excess thereof
required to complete the repair shall be paid by Tenant.
9..2 DAMAGE NEAR END OF TERM. If the Premises are
partially destroyed or damaged during the last six (6) months of
the term of this Lease, Landlord may, at Landlord's option,
cancel and terminate this Lease as of the date of occurrence of
such damage by giving written notice to Tenant of Landlord's
election to do so within thirty (30) days after the date of
occurrence of such damage.
9..3 PRORATIONS. Upon termination of this Lease
pursuant to this Article 9, a pro rata adjustment of rent based
upon a thirty (30) day month shall be made. Landlord shall, in
addition, return to Tenant so much of Tenant's security deposit
as has not theretofore been applied by Landlord.
101. REAL PROPERTY TAXES.
101.1PAYMENT OF TAXES. Tenant shall pay all real
property taxes applicable to the Premises during the term of this
Lease. All such payments shall be made at least ten (10) days
prior to the delinquency date of such payment. Tenant shall
promptly furnish Landlord with satisfactory evidence that such
taxes have been paid. If any such taxes paid by Tenant shall
cover any period of the time prior to or after the expiration of
the term hereof, Tenant's share of such taxes shall be equitably
prorated to cover only the period of time within the tax fiscal
year during which this Lease shall be in effect, and Landlord
shall reimburse Tenant to the extent required. If Tenant shall
fail to pay any such taxes, Landlord shall have the right to pay
the same, in which case Tenant shall repay such amount to
Landlord with Tenant's next rent installment together with
interest at the rate of ten (10%) percent per annum.
101.2DEFINITION OF "REAL PROPERTY" TAXES. As used
herein, the term "real property tax" shall include any form of
assessment, license fee, rent tax, levy, penalty, or tax (other
than inheritance or estate taxes), imposed by any authority
having the direct or indirect power to tax, including any city,
county, state or federal government, or any school, agricultural,
lighting, drainage or other improvement district thereof, as
against any legal or equitable interest of Landlord in the
Premises or in the real property of which the Premises are a
part, as against Landlord's right to rent or other income
therefrom, or as against Landlord's business of leasing the
Premises, and, Tenant shall pay any and all charges and fees
which may be imposed by the EPA or other similar governmental
regulations or authorities.
101.3 JOINT ASSESSMENT. If the Premises are not
separately assessed, Tenant's liability shall be an equitable
proportion of the real property taxes for all of the land and
improvements included within the tax parcel assessed, such
proportion to be determined by Landlord from the respective
valuations assigned in the assessor's work sheets or such other
information as may be reasonably available. Landlord's
reasonable determination thereof, in good faith, shall be
conclusive.
101.4 PERSONAL PROPERTY TAXES.
(a) Tenant shall pay prior to delinquency all taxes assessed
against and levied upon leasehold improvements, trade fixtures,
furnishings, equipment and all other personal property of Tenant
contained in the Premises or elsewhere. Tenant shall cause said
leasehold improvements, trade fixtures, furnishings, equipment
and all other personal property to be assessed and billed
separately from the real property of Landlord.
(b) If any of Tenant's said personal property shall be
assessed with Landlord's real property, Tenant shall pay Landlord
the taxes attributable to Tenant within ten (10) days after
receipt of a written statement setting forth the taxes applicable
to Tenant's property.
11. COMMON AREAS. When, in fact, there are Common Areas, then
the following shall apply:
11.1DEFINITIONS. The phrase "Common Areas" means all
areas and facilities outside the Premises that are provided and
designated for general use and convenience of Tenant and other
tenants and their respective officers, agents and employees,
customers and invitees. Common Areas include (but are not
limited to) pedestrian sidewalks, landscaped areas, roadways,
parking areas and railroad tracks, if any. Landlord reserves the
right from time to time to make changes in the shape, size,
location, number and extent of the land and improvements
constituting the Common Areas. Landlord may designate from time
to time additional parcels of land for use as a part thereof, and
any additional land so designated by Landlord for such use shall
be included until such designation is revoked by Landlord.
11.2 MAINTENANCE. During the term of this Lease,
Landlord shall operate, manage and maintain the Common Areas so
that they are clean and free from accumulations of debris, filth,
rubbish and garbage. The manner in which such Common Areas shall
be so maintained, and the expenditures for such maintenance,
shall be at the sole discretion of Landlord, and the use of the
Common Areas shall be subject to such reasonable regulations and
changes therein as Landlord shall make from time to time,
including (but not by way of limitation) the right to close from
time to time, if necessary, all or any portion of the Common
Areas to such extent as may be legally sufficient, in the opinion
of Landlord's counsel, to prevent a dedication thereof or the
accrual of rights of any person or of the public therein, or to
close temporarily all or any portion of such Common Areas for
such purposes.
11.3 TENANT'S RIGHTS AND OBLIGATIONS. Landlord hereby
grants to Tenant, during the term of this Lease, the license to
use, for the benefit of Tenant and its officers, agents,
employees, customers and invitees, in common with the others
entitled to such use, the Common Areas as they from time to time
exist, subject to the rights, powers and privileges herein
reserved to Landlord. Storage, either permanent or temporary, of
any materials, supplies or equipment in the Common Areas is
strictly prohibited. Should Tenant violate this provision of the
Lease, then in such event, Landlord may, at his option, either
terminate this Lease or, without notice to Tenant, remove said
materials, supplies or equipment from the Common Areas and place
such items in storage, the cost thereof to be reimbursed by
Tenant within ten (10) days from receipt of a statement submitted
by Landlord. All subsequent costs in connection with the storage
of said items shall be paid to Landlord by Tenant as accrued.
Failure of Tenant to pay these charges within ten (10) days from
receipt of statement shall constitute a breach of this Lease.
Tenant and its officers, agents, employees, customers and
invitees shall park their motor vehicles only in areas designated
by Landlord for that purpose from time to time. Tenant shall not
at any time park or permit the parking of motor vehicles,
belonging to it or to others, so as to interfere with the
pedestrian sidewalks, roadways and loading areas, or in any
portion of the parking areas not designed by Landlord for such
use by Tenant. Tenant agrees that receiving and shipping of
goods and merchandise and all removal of refuse shall be made
only by way of the loading areas constituting part of the
Premises. Tenant shall repair, at its cost, all deteriorations
or damages to the Common Areas, occasioned by its lack of
ordinary care.
11.4 CONSTRUCTION. Landlord, while engaged in
constructing improvements or making repairs or alterations in or
about the Premises or in their vicinity, shall have the right to
make reasonable use of the Common Areas.
12. UTILITIES. Tenant shall pay for all water, gas,
heat, light, power, telephone and other utilities and services
supplied to the Premises, together with any taxes thereon. If
any such services are not separately metered to Tenant, Tenant
shall pay a reasonable proportion to be determined by Landlord of
all charges jointly metered with other premises.
13. ASSIGNMENT AND SUBLETTING.
13.1 LANDLORD'S CONSENT REQUIRED. Tenant shall not
voluntarily or by operation of law assign, transfer, mortgage,
sublet or otherwise transfer or encumber all or any part of
Tenant's interest in this Lease or in the Premises without
Landlord's prior written consent, which Landlord shall not
unreasonably withhold. Any attempted assignment, transfer,
mortgage, encumbrance or subletting without such consent shall be
void and shall constitute a breach of the Lease. Any transfer of
Tenant's interest in this Lease or in the Premises from Tenant by
merger, consolidation or liquidation or by any subsequent change
in the ownership of thirty (30%) percent or more of the capital
stock of Tenant shall be deemed a prohibited assignment within
the meaning of this Article 13.
13.2 NO RELEASE OF TENANT. Regardless of Landlord's
consent, no subletting or assignment shall release Tenant of
Tenant's obligation to pay the rent and to perform all other
obligations to be performed by Tenant hereunder for the term of
this Lease. The acceptance of rent by Landlord from any other
person shall not be deemed to be a waiver by Landlord of any
provision hereof. Consent to one assignment or subletting shall
not be deemed consent to any subsequent assignment or subletting.
14. DEFAULTS; REMEDIES.
14.1 DEFAULTS. The occurrences of any one or more of
the following events shall constitute a default and breach of
this Lease by Tenant:
(a) The vacating or abandonment of the Premises by Tenant.
(b) The failure by Tenant to make any payment of rent or any
other payment required to be made by Tenant hereunder, at and
when due, where such failure shall continue for a period of three
(3) days after written notice thereof from Landlord to Tenant.
(c) The failure by Tenant to observe or perform any of the
covenants, conditions or provisions of this Lease to be observed
or performed by Tenant, other than described in Paragraph (b)
above, where such failure shall continue for a period of thirty
(30) days after written notice thereof from Landlord to Tenant;
provided, however, that if the nature of Tenant's defaults is
such that more than thirty (30) days are reasonably required for
its cure, then Tenant shall not be deemed to be in default if
Tenant commenced such cure within said thirty (30) day period and
thereafter diligently prosecutes such cure to completion.
(d) (i) The making by Tenant of any general assignment, or
general arrangement for the benefit of creditors; (ii) the filing
by or against Tenant of a petition to have Tenant adjudged a
bankrupt or a petition for reorganization or arrangement under
any law relating to bankruptcy (unless, in the case of a petition
filed against Tenant, the same is dismissed within sixty (60)
days); (iii) the appointment of a trustee or receiver to take
possession of substantially all of Tenant's assets located at the
Premises or of Tenant's interest in this Lease, where possession
is not restored to Tenant within thirty (30) days; or (iv) the
attachment, execution or other judicial seizure of substantially
all of Tenant's assets located at the Premises or of Tenant's
interest in this Lease, where such seizure is not discharged
within thirty (30) days.
14.2 REMEDIES IN DEFAULT. In the event of any such
default or breach by Tenant, Landlord may, at any time
thereafter, with or without notice or demand and without limiting
Landlord in the exercise of any right or remedy which Landlord
may have by reason of such default or breach:
(a) Terminate Tenant's right to possession of the Premises
by any unlawful means, in which case this Lease shall terminate
and Tenant shall immediately surrender possession of the Premises
to Landlord. In such event Landlord shall be entitled to recover
from Tenant all damages incurred by Landlord by reason of
Tenant's default, including, but not limited to, the cost of
recovering possession of the Premises; expenses of reletting,
including necessary renovation and alteration of the Premises,
reasonable attorney's fees, and any real estate commission
actually paid; the worth at the time of award by the court having
jurisdiction thereof of the amount by which the unpaid rent for
the balance of the term after the time of such award exceeds the
amount of such rental loss for the same period that Tenant proves
could be reasonably avoided; and that portion of the leasing
commission paid by Landlord applicable to the unexpired term of
this Lease. Unpaid installments of rent or other sums shall bear
interest from the date due at the rate of ten (10%) per annum.
In the event Tenant shall have abandoned the Premises, Landlord
shall have the option of (i) retaking possession of the Premises
and recovering from Tenant the amount specified in this Article
14.2(a), or (ii) proceeding under Article 14.2(b).
(b) Maintain Tenant's right to possession, in which case
this Lease shall continue in effect whether or not Tenant shall
have abandoned the Premises. In such event, Landlord shall be
entitled to enforce all of Landlord's rights and remedies under
this Lease, including the right to recover the rent as it becomes
due hereunder.
(c) Pursue any other remedy now or hereafter available to
Landlord under the laws or judicial decisions of the State in
which the Premises are located.
14.3 DEFAULT BY LANDLORD. Landlord shall not be in
default unless Landlord fails to perform obligations required of
Landlord within a reasonable time, but in no event later than
thirty (30) days after written notice by Tenant to Landlord and
to the holder of any first mortgage or deed of trust covering the
Premises whose name and address shall have theretofore been
furnished to Tenant in writing, specifying wherein Landlord has
failed to perform such obligation; provided, however, that if the
nature of Landlord's obligation is such that more than thirty
(30) days are required for performance, then Landlord shall not
be in default if Landlord commences performance within such
thirty (30) day period and thereafter diligently prosecutes the
same to completion.
14.4 LATE CHARGES. Tenant hereby acknowledges that
late payment by Tenant to Landlord of rent and other sums due
hereunder will cause Landlord to incur costs not contemplated by
this Lease, the exact amount of which will be extremely difficult
to ascertain. Such costs include, but are not limited to,
processing and accounting charges and late charges which may be
imposed by Landlord by the terms of any mortgage or trust deed
covering the Premises. Accordingly, if any installment of rent
or any other sum due from Tenant shall not be received by
Landlord or Landlord's designee within ten (10) days after
written notice that said amount is past due, then Tenant shall
pay to Landlord a late charge equal to ten (10%) percent of such
overdue amount. The parties hereby agree that such late charge
represents a fair and reasonable estimate of the cost Landlord
will incur by reason of late payment by Tenant. Acceptance of
such late charge by Landlord shall in no event constitute a
waiver of Tenant's default with respect to such overdue amount,
nor prevent Landlord from exercising any of the other rights and
remedies granted hereunder.
15. CONDEMNATION. If the Premises or any portion
thereof are taken under the power of eminent domain, or sold by
Landlord under the threat of the exercise of said power (all of
which is herein referred to as "condemnation"), this Lease shall
terminate as to the part so taken as of the date the condemning
authority takes title or possession, whichever occurs first. If
more than twenty-five (25%) percent of the floor area of any
buildings on the Premises, or more than twenty-five (25%) percent
of the land area of the Premises not covered with buildings, is
taken by condemnation, either Landlord or Tenant may terminate
this Lease as of the date the condemning authority takes
possession by notice in writing of such election within twenty
(20) days after Landlord shall have notified Tenant of the taking
or, in the absence of such notice, then within twenty (20) days
after the condemning authority shall have taken place.
If this Lease is not terminated by either Landlord or
Tenant then it shall remain in full force and effect as to the
portion of the Premises remaining, provided the rental shall be
reduced in proportion to the floor area of the buildings taken
within the Premises as bears to the total floor area of all
buildings located on the Premises. In the event this Lease is
not so terminated then Landlord agrees, at Landlord's sole cost,
to as soon as reasonably possible restore the Premises to a
complete unit of like quality and character as existed prior to
the condemnation. All awards for the taking of any part of the
Premises or any payment made under the threat of the exercise of
power and eminent domain shall be the property of Landlord,
whether made as compensation for diminution of value of the
leasehold or for the taking of the fee or as severance damages,
provided, however, that Tenant shall be entitled to any award for
loss of or damage to Tenant's trade fixtures and removable
personal property.
16. GENERAL PROVISIONS.
16.1 Offset Statement.
(a) Tenant shall at any time upon not less than ten
(10) days' prior written notice from Landlord execute,
acknowledge and deliver to Landlord a statement in writing
(i) certifying that this Lease is unmodified and in full force
and effect (or, if modified, stating the nature of such
modification and certifying that this Lease, as so modified, is
in full force and effect) and the date to which the rent,
security deposit and other charges are paid in advance, if any,
and (ii) acknowledging that there are not, to Tenant's knowledge,
any uncured defaults on the part of Landlord hereunder, or
specifying such defaults, if any, which are claimed. Any such
statement may be conclusively relied upon by any prospective
purchaser or encumbrancer of the Premises.
(b) Tenant's failure to deliver such statement within
such time shall be conclusive upon Tenant (i) that this Lease is
in full force and effect, without modification except as may be
represented by Landlord, (ii) that there are no uncured defaults
in Landlord's performance, and (iii) that not more than one (1)
month's rent has been paid in advance.
(c) If Landlord desires to finance or refinance the
Premises, or any part thereof, Tenant hereby agrees to deliver to
any lender designated by Landlord such financial statements of
Tenant as may be reasonably required by such lender. Such
statements shall include the past three (3) years' financial
statements of Tenant. All such financial statements shall be
received by Landlord in confidence and shall be used only for the
purposes herein set forth.
16.2 LANDLORD'S INTERESTS. The term "Landlord" as used
herein shall mean only the owner or owners at the time in
question of the fee title or a tenant's interest in a ground
lease of the Premises. In the event of any transfer of such
title or interest, Landlord herein named (and in case of any
subsequent transfers the then grantor) shall be relieved from and
after the date of such transfer of all liability as respects
Landlord's obligations thereafter to be performed, provided that
any funds in the hands of Landlord or the then grantor at the
time of such transfer, in which Tenant has an interest, shall be
delivered to the grantee. The obligations contained in this
Lease to be performed by Landlord shall, subject as aforesaid, be
binding on Landlord's successors and assigns, only during their
respective periods of ownership.
16.3 SEVERABILITY. The invalidity of any provision of
this Lease, as determined by a court of competent jurisdiction,
shall in no way affect the validity of any other provision
hereof.
16.4 INTEREST ON PAST DUE OBLIGATIONS. Except as
expressly herein provided, any amount due to Landlord not paid
when due shall bear interest at ten (10%) percent per annum from
the date due. Payment of such interest shall not excuse or cure
any default by Tenant under this Lease.
16.5 TIME OF ESSENCE. Time is of the essence.
16.6 CAPTIONS. Article and paragraph captions are not
a part hereof.
16.7 INCORPORATION OF PRIOR AGREEMENTS; AMENDMENTS.
This Lease contains all agreements of the parties with respect to
any matter mentioned herein. No prior agreement or understanding
pertaining to any such matter shall be effective. This Lease may
be modified in writing only, signed by the parties in interest at
the time of the modification.
16.8 WAIVERS. No waiver by Landlord of any provision
hereof shall be deemed a waiver of any other provision hereof or
of any subsequent breach by Tenant of the same or any other
provision. Landlord's consent to or approval of any act shall
not be deemed to render unnecessary the obtaining of Landlord's
consent to or approval of any subsequent act by Tenant. The
acceptance of rent hereunder by Landlord shall not be a waiver of
any preceding breach by Tenant of any provision hereof, other
than the failure of Tenant to pay the particular rent so
accepted, regardless of Landlord's knowledge of such preceding
breach at the time of acceptance of such rent.
16.9 RECORDING. Tenant shall not record this Lease.
Any such recordation shall be a breach under this Lease.
16.10 HOLDING OVER. If Tenant remains in possession of
the Premises or any part thereof after the expiration of the term
hereof with the express written consent of Landlord, such
occupancy shall be a tenancy from month to month at a rental in
the amount of the last monthly rental plus all other charges
payable hereunder, and upon the terms hereof applicable to
month-to-month tenancy.
16.11 CUMULATIVE REMEDIES. No remedy or election
hereunder shall be deemed exclusive but shall, wherever possible,
be cumulative with all other remedies at law or in equity.
16.12 COVENANTS AND CONDITIONS. Each provision of this
Lease performable by Tenant shall be deemed both a covenant and a
condition.
16.13 BINDING EFFECT; CHOICE OF LAW. Subject to any
provisions hereof restricting assignment or subletting by Tenant
and subject to the provisions of Article 16.2, this Lease shall
bind the parties, their personal representatives, successors and
assigns. This Lease shall be governed by the laws of the state
where the Premises are located.
16.14 SUBORDINATION.
(a) This Lease, at Landlord's option, shall be
subordinate to any ground lease, mortgage, deed of trust or any
other hypothecation for security now or hereafter placed upon the
real property of which the Premises are a part and to any and all
advances made on the security thereof and to all renewals,
modifications, consolidations, replacements and extensions
thereof. Notwithstanding such subordination, Tenant's right to
quiet possession of the Premises shall not be disturbed if Tenant
is not in default and so long as Tenant shall pay the rent and
observe and perform all of the provisions of this Lease, unless
this Lease is otherwise terminated pursuant to its terms. If any
mortgage, trustee or ground lessor shall elect to have this Lease
prior to the lien of its mortgage, deed of trust or ground lease,
and shall give written notice thereof to Tenant, this Lease shall
be deemed prior to such mortgage, deed of trust or ground lease,
whether this Lease is dated prior or subsequent to the date of
said mortgage, deed of trust or ground lease or the date of
recording thereof.
(b) Tenant agrees to execute any documents required to
effectuate such subordination or to make this Lease prior to the
lien of any mortgage, deed of trust or ground lease, as the case
may be, and, failing to do so within ten (10) days after written
consent, does hereby make, constitute and irrevocably appoint
Landlord as Tenant's attorney-in-fact, and in Tenant's name,
place and stead, to do so.
16.15 ATTORNEY'S FEES. If either party named herein
brings an action to enforce the terms hereof or declare rights
hereunder, the prevailing party in any such action, on trial or
appeal, shall be entitled to his reasonable attorney's fees to be
paid by the losing party as fixed by the court.
16.16 LANDLORD'S ACCESS. Landlord and Landlord's
agents shall have the right to enter the Premises at reasonable
times for the purpose of inspecting the same, showing the same to
prospective purchasers or lenders, and making such alterations,
repairs, improvements or additions to the Premises or to the
building of which they are a part as Landlord may deem necessary
or desirable. Landlord may at any time place on or about the
Premises any ordinary "For Sale" signs and Landlord may at any
time during the last one hundred twenty (120) days of the term
hereof place on or about the Premises any ordinary "For Sale or
Lease" signs, all without rebate of rent or liability to Tenant.
16.17 AUCTIONS. Tenant shall not place any auction
sign upon the Premises or conduct any auction thereon without
Landlord's prior written consent.
16.18 MERGER. The voluntary or other surrender of this
Lease by Tenant, or a mutual cancellation thereof, shall not work
a merger, and shall, at the option of Landlord, terminate all or
any existing subtenancies or may, at the option of Landlord,
operate as an assignment to Landlord of any or all of such
subtenancies.
16.19 CORPORATE AUTHORITY. If Tenant is a corporation,
each individual executing this Lease on behalf of said
corporation represents and warrants that he is duly authorized to
execute and deliver this Lease on behalf of said corporation in
accordance with a duly adopted resolution of the Board of
Directors of said corporation or in accordance with the By-laws
of said corporation, and that this Lease is binding upon said
corporation in accordance with its terms.
16.20 LANDLORD'S LIABILITY. If Landlord is a limited
partnership, the liability of the partners of the Landlord
pursuant to this Lease shall be limited to the assets of the
partnership; and Tenant, its successors and assigns hereby waive
all rights to proceed against any of the partners, or the
officers, shareholders or directors of any corporate partner of
Landlord except to the extent of their interest in the
partnership. The term "Landlord," as used in this Article, shall
mean only the owner or owners at the time in question of the fee
title or its interest in a ground lease of the Premises, and in
the event of any transfer of such title or interest, Landlord
herein named (and in case of any subsequent transfers the then
grantor) shall be relieved from and after the date of such
transfer of all liability as respects Landlord's obligations
thereafter to be performed, provided that any funds in the hands
of Landlord or the then grantor at the time of such transfer, in
which Tenant has an interest, shall be delivered to the grantee.
The obligations contained in this Lease to be performed by
Landlord shall, subject as aforesaid, be binding on Landlord's
successors and assigns, only during their respective periods of
ownership.
17. PERFORMANCE BOND. At any time Tenant either
desires to or is required to make any repairs, alterations,
additions, improvements or utility installation thereon, pursuant
to Articles 7.5 or 9.2 herein, or otherwise, Landlord may at his
sole option require Tenant, at Tenant's sole cost and expense, to
obtain and provide to Landlord a lien and completion bond or
letter of credit or other guarantee acceptable to Landlord in an
amount equal to one and one-half (1 1/2) times the estimated cost
of such improvements, to insure Landlord against liability for
mechanics' and materialmen's liens and to insure completion of
the work.
18. BROKERS. The parties hereto acknowledge that
____________ were the real estate brokers that represented the
parties herein, and that no other commissions are due to any
brokers whatsoever, other than the above-named brokers.
19. NOTICE. Whenever under this Lease provision is
made for any demand, notice or declaration of any kind or where
it is deemed desirable or necessary by either party to give or
serve any such notice, demand or declaration to the other party,
it shall be in writing and served either personally or sent by
United States mail, postage prepaid, addressed at the addresses
set forth hereinbelow
To Landlord at 0000 XXXXXX XXX, XXX XXXX, XXXXXXXXXX
To Tenant at 0000 X. XXXXXX XXXXXX, XXXX XXXX
XXXXXXXXXX 00000
20. Insuring Party. The insuring party under this Lease shall
be the Landlord.
ADDENDUM:
Paragraphs 21 - 27 attached hereto are hereby
incorporated into this Lease.
The parties hereto have executed this Lease at the
place and on the dates specified immediately adjacent to their
respective signatures.
Executed at San Jose, California Larvan Properties, A General
on 13th July, 1977 Partnership
By
By
"LANDLORD"
Executed at Palo Alto, California Larse Corporation
on 13th July, 1977 By
By
"TENANT"
If this Lease has been filled in or has been prepared for
submission to your attorney for his approval. No representation
or recommendation is made to the real estate broker or the agents
or employees as to the legal sufficiency, legal effect, or the
consequences of this Lease or the transaction related thereto.
21. MAINTENANCE. The Tenant shall during the term of this
Lease, keep in good order, condition and repair, the premises and
every part thereof, and all adjacent sidewalk and landscape,
driveways, parking lots and signs located at the areas which are
adjacent to and included with the premises. Landlord shall incur
no expense, nor have any obligation of any kind whatsoever, in
connection with maintenance of the premises except for roof and
side walk structural maintenance. Landlord's obligations shall
be limited to the structural aspects of the roof, the walls, the
foundations, underground water and utility services, up to their
distribution points within the main structure and is specifically
excluded from responsibility for the cosmetic aspects of any of
the aforementioned. The Tenant expressly waives the benefits of
any statute now or hereinafter in effect which would otherwise
afford Tenant the right to make repairs at Landlord's expense, or
to terminate this Lease because of Landlord's failure to keep the
premises in good order, condition or repair.
22. RENTAL INCREASES. Said monthly rental shall be
subject to adjustment in the 61st month of the lease term and
each five (5) years thereafter, throughout the remainder of the
term and extensions hereof in the manner hereinafter set forth:
The Consumer Price Index for all commodities as published by the
United States Department of Labor, Bureau of Labor Statistics,
San Francisco Bay Area, for said anniversary date shall be
compared with said Index as of the rental commencement date. The
percentage of any increase in the Index as of said anniversary
date over the Index as of the rental commencement date shall be
multiplied by the monthly rental of Eight Thousand One Hundred
Twenty-Five ($8,125) Dollars, ("Base Rental"), and the product
shall be added to said monthly rental and that total shall be the
monthly rental payable commencing with said anniversary date and
for the ensuing five (5) years until the next such anniversary
date provided, however, in no event shall said rental increase
exceed 5% per year or a total of 17.6% for any five year period.
In no event shall said monthly rental for the demised premises
decrease below the Base Rental. Additionally, the Base Rental
for the expansion area will be established upon exercising the
Option to Expand (Paragraph 24 hereto) and shall not decrease
below said Base Rental. For the purpose of this Lease, if in the
future, said Index be changed so that the base five (5) year
differs from that used as of the rental commencement date, it
shall be converted to the base year as of the commencement date.
In the event said Index is discontinued or revised during the
term of this lease, such other governmental Index or computation
with which it is replaced shall be the basis of the
recomputation.
23. OPTION TO EXTEND WITH COST-OF-LIVING. Landlord
grants to Tenant an Option to Extend the term of this Lease for
two successive five (5) year periods at the termination of the
term stated herein, at a rental to be determined in accordance
with Rental Increases, Paragraph #22, and subject to all of the
other terms, covenants, and conditions hereinabove contained;
provided Tenant is not in default in the performance of any of
the terms and conditions of this Lease upon the commencement of
said extended term, and Tenant has given to Landlord ninety (90)
days prior to the expiration of this lease term written notice of
his intention to exercise said Option.
24. OPTION TO EXPAND. In the event that Tenant shall
not be in default in the performance of any terms or conditions
of the Lease, then upon notification to Landlord, Tenant shall
have the Option to Expand the demised premises to include the
entire 49,837 square foot facility. Tenant agrees to provide
Landlord with written notice of this intention to expand during
the time of the thirty-sixth (36th) month through the
forty-second (42nd) month (time window) following the signing of
this Lease Agreement. Said Option to Expand "time window" may be
adjusted to a later period subject to mutual agreement of the
Landlord and Tenant. In consideration of this option and
potential limited tenancy, it is agreed, as of January 1, 1978
that:
24-A Tenant will pay the rent differential, if any, between the
budget rent commensurate with the limited tenant's
improvements and the limited tenant's contract rent that may
be a direct result of said limited tenancy.
24-B That during the periods when the expansion area is not
leased and vacant, Tenant will pay to Landlord a rental of
$.02 per square foot per month for that amount of square
footage remaining vacant.
25. OCCUPANCY DATE. Landlord agrees that as soon as
it can reasonably be done following the execution of the Lease,
Landlord shall commence and diligently prosecute to completion
the construction of the one-story building herein described.
Said construction will be done in all respects in a good and
workmanlike manner to the end that such work will commence upon
receipt by Xxxxxxxxx Construction, Inc., of a building permit
issued by the City of Santa Xxxxx and be completed no later than
four and one-half months from receipt of said permit, provided
there is no delay occasioned by Acts of God, fire, storm or other
causes beyond the control of Landlord. In any such event,
completion of the building shall be extended for the period of
such delay, and the commencement date of the Lease shall be the
first day of the month following the month in which Lessor
delivers possession of said premises to Tenant, Landlord agrees
to a $100 per day penalty to be paid to Lessee for each day of
delay beyond the completion date herein stated.
26. ARBITRATION. If Landlord and Tenant are unable to
agree upon the letter of this agreement, then the subject for
determination shall be promptly submitted to arbitration. Each
party hereto will select an arbitrator of experience and
competence in real estate and said arbitrators shall meet. If
the two arbitrators do not agree, they shall select a third
qualified arbitrator. Said third Arbitrator shall act as an
umpire between the arbitrators selected by the parties hereto,
and his decision, made in concert with either one or both, or
individually if unable to agree with either of them, shall be
final and binding. The determination shall be signed by both
parties and shall thereupon become a part of this lease.
27. EFFECTIVENESS CONDITION. The effectiveness of
this Lease is expressly conditioned upon Landlord on Landlord's
assignee receiving a building permit and other necessary
approvals and permits preliminary to construction of the building
to be constructed on Parcel #17 of Marriott Business Park within
forty-five (45) days from the execution hereof. Should such
condition not be met, then this Lease shall terminate and neither
party shall have any rights or obligations hereunder.
EXHIBIT A
PROPERTY DESCRIPTION
ADDENDUM #1
In accordance with Paragraph 24 to the Lease Agreement
("The Lease") dated July 13, 1977, by and between Larvan
Properties, a General Partnership ("Landlord") and Larse
Corporation, a California Corporation ("Tenant") and if that
Tenant is not in default of any of the terms and conditions of
The Lease, Landlord hereby grants to Tenant and Tenant hereby
accepts from Landlord the expansion of the demised premises as
described in Paragraph 2 to The Lease to include the adjacent
19,743 square feet resulting in a total demised premise of
approximately 49,837 square feet.
Landlord and Tenant hereby agreed that monthly rental
rate for the 19,743 square feet shall be $.31 per square foot net
or $6,120.00 per month commencing with June 1, 1981 and
continuing through May 31, 1983. It is agreed by the parties
hereto that this rate is the "Base Rental" referred to in
Paragraph 22 to The Lease. Total rental due by Tenant as of June
1, 1981 and continuing through May 31, 1983 is $14,245.00. It is
further understood that the rental for the expansion areas for
the period June 1, 1983 through December 31, 1987 shall be
increased to a negotiated amount. Said negotiated rental shall
be determined during the period March 1 - June 1, 1983. Rental
increases for the initial 30,094 square feet shall be in
accordance with Paragraph 22 to The Lease. Tenant hereby agrees
to pay to Landlord a security deposit in the amount of Six
Thousand One Hundred Twenty ($6,120.00) Dollars in accordance
with Paragraph 5 to The Lease.
Executed at San Jose, California Larvan Properties, A General
Partnership
on 22nd June, 1981
BY
BY
Landlord
Larse Corporation
BY
ADDENDUM #2
TERM OF LEASE ON EXPANSION AREA
Landlord and Tenant hereby agree to extend the term of
Tenant's Lease on Expansion Area, negotiated and agreed to in
Addendum #1 to the Lease Agreement dated July 13, 1977, by and
between Larvan Properties ("Landlord") and Larse Corporation
("Tenant") from a May 31, 1983 termination date to a September 2,
1983 termination date. All other terms and conditions of the
Lease and Addendum #1 remain unchanged.
Executed at San Jose, California LARVAN PROPERTIES
on Sept. 2, 1981 BY
BY
BY
LARSE CORPORATION
BY
ADDENDUM #3
In accordance with Paragraph 24 to the Lease Agreement
("Lease") dated July 13, 1977, by and between Larvan Properties,
a General Partnership ("Landlord") and Larse Corporation, a
California Corporation ("Tenant") and since the Tenant is not in
default of any of the terms and conditions of the Lease, Landlord
hereby grants to Tenant and Tenant hereby accepts from Landlord
the expansion of the demised premises as described in Paragraph 2
to the Lease to include the adjacent 19,743 square feet resulting
in a total demised premise of approximately 49,837 square feet.
1) The term of this Addendum shall be from February
1, 1984 through January 31, 1988, and all other provisions of the
Lease shall be applicable including the Option to Extend with
Cost of Living, Paragraph 23.
2) The rental rate for the entire demised premise of
approximately 49,837 square feet shall be $16,752 per month for
the period from February 1, 1984 through January 31, 1988. It is
agreed by the parties hereto that this rate is the "Base Rental"
referred to in Paragraph 22 to the Lease.
3) The Tenant shall pay to the Landlord the one-time
sum of seven thousand, four hundred, four and 00/100 dollars
($7,404.00) to compensate the Landlord for the Cost of Living
clause on the original Tenant space, the application of the Cost
of Living clause for the expansion space, less a rental
overpayment made by the Tenant.
4) The Tenant shall have the right to sublease the
premises in accordance with the terms and conditions of the
Lease.
5) The parties hereto further agree to delete the
provisions of Paragraph 24, sub A and Paragraph 24, sub B.
Executed at San Jose, California Larvan Properties
on January 5, 1984, BY
BY
BY
Larse Corporation
BY
ADDENDUM #4 (10/12/89)
In accordance with Paragraph 23 to the Lease Agreement
("Lease") dated July 13, 1977, by and between Larvan Properties,
a General Partnership ("Landlord") and Larse Corporation, a
California Corporation ("Tenant") and since the Tenant is not in
default of any of the terms and conditions of the Lease, Landlord
hereby grants to Tenant and Tenant hereby accepts from Landlord
the extension of the Lease for the demised premises of
approximately 49,837 square feet for a period of five (5) years.
1) The term of this Addendum shall be from February
1, 1988 through January 31, 1993, and all other provisions of the
Lease shall be applicable.
2) The rental rate for the entire demised premise of
approximately 49,837 square feet shall be $19,700.35 per month
for the period from February 1, 1988 through January 31, 1993.
It is agreed by the parties hereto that this rate is the "Base
Rental" referred to in Paragraph 22 to the Lease.
3) The Tenant shall have the right to sublease the
premises in accordance with the terms and conditions of the
Lease.
Executed at San Jose, California LARVAN PROPERTIES
on October 12, 1987 By:
Name:
LARSE CORPORATION By:
By: Name:
By:
Name:
ADDENDUM #5
TO THAT LEASE DATED JULY 13, 1977 AND ADDENDA 1, 2, 3 & 4
In accordance with Paragraph 23 to the Lease Agreement
("Lease") dated July 13, 1977, by and between Larvan Properties,
a General Partnership ("Landlord") and Larse Corporation, a
California Corporation ("Tenant"), and since the Tenant is not in
default of any of the terms and conditions of the Lease, Landlord
hereby grants to Tenant and Tenant hereby accepts from Landlord
the extension of the Lease for the demised premises of
approximately 49,837 square feet for a period of five (5) years.
1) The term of this Addendum shall be from February
1, 1993 through January 31, 1998, and all other provisions of the
Lease shall be applicable.
2) The base rental for the entire demised premise of
approximately 49,837 square feet shall be $23,167.61 per month
for the period from February 1, 1993 through January 31, 1998.
Executed at Santa Clara, California on April 16, 1993
TENANT: LANDLORD:
LARSE CORPORATION LARVAN PROPERTIES
By: XXXXXXXXX CONSTRUCTION, INC.
Xxxxx Xxxxxxxxx
President By:
Xxxxxx X. Xxx Xxxxxx
LARSE CORPORATION
By:
Xxxxx Xxxxxxxxx,
President
Xxxxxx X. Xxxxxxxxxx, Xx.
Xxxx X. Xxxxx
Xxxxx X. Xxxxx
Xxxx Xxxxx
