LEASE AMENDMENT #5
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This Amendment is dated for referenced purposes only October 11, 2002, by and between, Xxxxxx X. Xxxxx, as Trustee of the Xxxxxx X. Xxxxx Trust Dated March 7, 1995, as Amended and Restated December 20, 2001 as Lessor, and xxxxxxxxx.xxx, a Utah corporation, as Lessee.
RECITALS
1. The Parties hereto have entered into a certain Lease ("LEASE") dated March 15, 2000, regarding promises described therein as 000 Xxxxx 0000 Xxxx, Xxxxx 000, Xxxx Xxxx Xxxx, Xxxx 00000, consisting of approximately 109,725 square feet of warehouse space, including approximately 1,500 square feet of office space.
2. The Parties amended the Lease with Lease Amendment #1 dated August 28, 2000 providing for temporary space and exercising tenant's option to lease the adjacent space. Tenant's space was increased by 109,725 square feet, from 109,725 to 219,450 square feet, for a total of 175,560 square feet of termed space and 43,890 of month-to-month space.
3. The Parties amended the Lease with Lease Amendment #2 dated November 12, 2001 converting the 43,890 square feet of month-to-month space to termed space and voiding Lessee's right of first refusal.
4. The Parties amended the Lease with Lease Amendment #3 dated July 23, 2002 to expand the Premises by 43,890 square feet for one (1) year.
5. The Parties amended the Lease with Lease Amendment #4 dated August 19, 2002 to expand the Premises by 43,890 square feet from August 20, 2002 through September 30, 2002.
6. The Parties now desire to amend the Lease to expand the Premises by 90,915 square feet from November 1, 2002 through December 31, 2002.
AGREEMENT
The parties agree as follows:
EXPANSION SPACE: Lessee shall Lease the remainder of the building from November 1, 2002 through December 31, 2002 and in accordance with the following terms and conditions:
A. Size: Premises shall expand by 90,915 square feet, from 263,340 square feet to 354,255 square feet
B. Pro Rata Share: Lessee's pro rata share shall be increased by 25.66%, from 74.34% to 100.00%
C. Expansion Space Commencement Date: November 1, 2002
D. Expansion Space Expiration Date: December 31, 2002
E. Rent Schedule: Effective November 1, 2002 monthly rent will be increased by $24,547.05 per month ($0.27 p.s.f.) NNN, from $77,685.30, to $102,232.35. Rent for the Expansion Space shall continue after December 31, 2002 and be subject to Paragraph 26 of the Lease until Lessee vacates the Expansion Space and completes a walk-thru with the property manager.
F. Tenant Improvements: Lessor is not required to complete any tenant improvements in the expansion space. Lessee shall be responsible for moving the fence which demises the Premises and replacing it after Lessee vacates the Expansion Space.
All other terms and conditions of the Lease shall remain the same in full force and effect.
IN WITNESS WHEREOF, the Parties hereto have caused this Amendment to be executed as of the day and year written below.
| LESSOR: | LESSEE: | |||
xxxxxxxxx.xxx, a Delaware corporation |
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By: |
/s/ XXXXXX X. XXXXX Xxxxxx X. Xxxxx Trustee of the Xxxxxx X. Xxxxx Trust dated March 7, 1995, As Amended and Restated December 20, 2001 |
By: |
/s/ XXX XXXX Xxx Xxxx Chief Operating Officer |
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Date: |
Date: |
October 05, 2002 |
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LEASE AMENDMENT #5
