EXHIBIT 10.8
LEASE AMENDMENT
DATED: January 28, 1997
BETWEEN: PACIFIC REALTY ASSOCIATES, LP.,
a Delaware limited partnership LANDLORD
AND: FLIR SYSTEMS, INC.,
an Oregon corporation TENANT
By written Lease dated February 11, 1985, Tenant Leased from Landlord
approximately 20,118 square feet of office, production and storage space located
in Building F, PacTrust Business Center, 00000 X.X. 00xx Xxxxxx, Xxxxxxxx,
Xxxxxx 00000. By Lease Amendment dated May 19, 1986, the lease was amended and
the term extended. By Lease Amendment dated Xxxxx 0, 0000, Xxxxxx Leased an
additional approximately 24,650 square feet of warehouse and office space and
the term of the Lease was extended. By Lease Amendment dated February 28, 1990,
the lease was amended. By Lease Amendment dated July 31, 1990, Tenant Leased an
additional approximately 2,656 square feet of office and storage space. By Lease
Amendment dated August 29,1991, the Lease was amended. Tenant's Leased area
within Building F now totals approximately 47,424 square feet of office,
production, warehouse and storage space. By Lease Amendment dated June 24,1992,
Tenant Leased an additional approximately 5,400 square feet of office and
warehouse space located in Building D PacTrust Business Center, 00000 X.X. 00xx
Xxxxxx, Xxxxxxxx, Xxxxxx 00000. By Lease Amendment dated January 21,1993, Tenant
leased an additional approximately 3,850 square feet of warehouse and office
space in Building D and the term of the Lease was extended. By Lease Amendment
dated August 26, 1993, Tenant leased an additional approximately 6,590 square
feet of warehouse and office space in Building D and the Lease was amended. By
Lease Amendment dated November 22, 1993, the Lease was amended. By Lease
Amendment dated September 5, 1995, Tenant leased an additional approximately
9,160 square feet of office and warehouse space in Building D and the Lease was
amended and extended. Tenant's Leased area within Building D now totals
approximately 25,000 square feet of office space. Tenant's Leased area within
Buildings F and D totals approximately 72,424 square feet of office, production,
warehouse and storage space ("hereinafter referred to as the Premises"). By
Lease Amendment dated April 15, 1996, the Lease was amended. Such documents are
hereinafter jointly referred to as "the Lease". The Lease expires September 30,
2000.
Tenant now wishes to lease an additional approximately 12,415 square feet of
offices and warehouse space located in Building E, PacTrust Business Center,
00000 X.X. Xxxxx Xxxxxx Xxxxx Xxxx, Xxxxxxxx, Xxxxxx 00000 (herein referred to
as the "Seventh Additional Space") and as further described on The attached
Exhibits A and B.
NOW, THEREFORE, the parties agree as follows:
1. The Seventh Additional Space shall become subject to the terms of the Lease
upon occupancy by Tenant, which is estimated to by March 1, 1997. Tenant's
total leased area shall increase from 72,424 square feet of office,
production, warehouse and storage space to 84,839 square feet of office,
production, warehouse and storage space. Tenant may occupy the Seventh
Additional Space prior to such commencement date on a rent-free basis and
compliance with all terms of the Lease.
2. Base rent shall be according to the following schedule:
Period 7th Add'l Sp Premises Total
----------------- ----------------- -----------------
March 1,1997 through March 31, 1998 $9,932.00 $60,840.00 $70,772.00
April 1, 1998 through September 30, 2000 $9,932.00 $62,922.00 $72,854.00
3. Landlord shall, at its sole cost and expense, service and make any
necessary repairs to the heating, ventilation and air conditioning ("HVAC")
system. Landlord shall grant Tenant a one year warranty for the HVAC
system, provided that Tenant contracts with a reputable service contractor
to provide proper maintenance for the system. Such warranty shall be in
effect for one year from March 1, 1997.
4. A tenant improvement allowance of $5.00 per square foot (hereinafter
referred to as "The Allowance") has been provided. A final space plan will
be completed upon which Landlord and Tenant agree. If landlord cannot
construct the required improvements within the $5.00 per square foot
allowance, Tenant agrees to pay to Landlord the amount by which this cost
exceeds the Allowance, adjusted by any reductions or increases in costs
initiated by Tenant after a final plan and specifications have been signed
off by both parties with such amounts to be paid upon occupancy. If the
tenant improvements, including tenant-initiated adjustments, are less the
Allowance, Landlord shall credit Tenant a like amount in the from of a
moving allowance payable upon occupancy of the Premises or by providing
Tenant with a like amount in the form of free base rent.
5. Notwithstanding the foregoing, the Premises shall be taken by Tenant in
"as-is" condition with existing improvements configured generally as shown
in the attached Exhibit B.
6. Except as expressly modified hereby, all terms of the Lease shall remain in
full force and effect and shall continue through the existing term.
IN WITNESS WHEREOF, the parties hereto have executed this agreement on the
respective dates set opposite their signature below, but this Agreement on
behalf of such parties shall be deemed to have been as of the day first written.
LANDLORD:
PACIFIC REALTY ASSOCIATES, LP.,
A Delaware limited partnership
By PacTrust Realty, Inc.,
A Delaware corporation,
Its General Partner
By /s/ Xxxxx X. Xxxxx Date: 1-29-97
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Xxxxx X. Xxxxx
Vice President
TENANT:
FLIR SYSTEMS, INC.,
A Oregon corporation
By /s/ Xxxxx X. Xxxxxxxxx Date: 1-29-97
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Xxxxx X. Xxxxxxxxx
Vice President and General Counsel
