SECOND AMENDMENT TO LEASE AGREEMENT
Exhibit
10.47
SECOND
AMENDMENT TO LEASE AGREEMENT
THIS
SECOND LEASE AMENDMENT, is made and entered it this 7th
day of
April, 2000 among BSRT Phoenix Business Park, LLC, as Landlord, and
LightNetworks, Inc., a Georgia Corporation, as Tenant.
WITNESSETH
WHEREAS,
Landlord and Tenant entered into a Lease Agreement (“Lease”) for the use and
occupancy of the certain premises (the “Premises”) by Tenant located in Phoenix
Business Park, 0000 X.X. Xxxxxxxxxx, Xxxxxxxx X, Xxxxx X-000, Xxxxxxx, XX 00000
(the “Building”) dated January 13, 2000; and
WHEREAS,
Landlord and tenant do hereby intend to amend and modify the Lease as herein
set
forth.
NOW
THEREFORE, in consideration of the mutual covenants and conditions contained
herein the received insufficiency which are hereby acknowledged, the parties
hereto agree as follows:
| 1. |
Expansion
|
Effective
May 1, 2000 Tenant will add to the Premises approximately 9,846 rentable square
feet known as Suite B-400, Exhibit “A” attached. Effective June 15, 2000. Tenant
will add to the Premises 7,776 rentable square feet known as Suite B-450,
Exhibit “A” attached. For the purposes of this Lease, Tenant’s Premises shall be
defined as 41,422 rentable square feet as of May 1, 2000, and 49,198 rentable
square feet as of June 15, 2000.
| 2. |
Expansion
Space Rent Schedule
|
Suite
B-400
|
May
1, 2000- Month 18 (as defined in the Lease)
|
$6,974.25/month
|
|
Month
19- Month 30 (as defined in the Lease)
|
$7183.48/month
|
|
Month
31- Month 42 (as defined in the Lease)
|
$7398.98/month
|
|
Month
43- Month 54 (as defined in the Lease)
|
$7620.95/month
|
|
Month
55- Month 66 (as defined in the Lease)
|
$7849.58/month
|
Suite
B-450
|
June
15,2000-June 30, 2000 (as defined in the Lease)
|
$2754.00/half
month
|
|
July
1, 2000- Month 18 (as defined in the Lease)
|
$5508.00/month
|
|
Month
19- Month 30 (as defined in the Lease)
|
$5673.24/month
|
|
Month
31- Month 42 (as defined in the Lease)
|
$5843.44/month
|
|
Month
43- Month 54 (as defined in the Lease)
|
$6018.74/month
|
|
Month
55- Month 66 (as defined in the Lease)
|
$6199.30/month
|
| 3. |
Expansion
Space Security Deposit
|
Upon
the
execution of this Second Amendment to Lease Agreement, Tenant shall pay to
Landlord an amount of $12,482.25 which shall be added to and made a part of
Tenant’s Security Deposit as defined in the Lease.
| 4. |
Expansion
Space Premises
|
Lessor,
at an expense not to exceed $6.00/SF ($105,732.00) (“Improvement Allowance”) and
no later than September 30, 2000 shall complete improvements to the Premises
per
mutually agreed upon construction drawings. Said Improvement Allowance shall
go
toward the cost of Lessee’s improvements, architectural fees and a construction
management fee equal to five percent (5%) of said costs. The Improvement
Allowance may not be used to pay for non-construction items, such as rent,
moving expenses, furniture or telecommunications equipment. Should the actual
improvement costs exceed the Improvement Allowance, Lessee shall pay Lessor
said
excess amount within 30 days of the receipt of an invoice from Lessor for said
amount.
Except
as
expressly amended or modified hereby, the terms and conditions of the First
Amendment to Lease Agreement, as amended, shall be and remain in full force
and
effect and are hereby confirmed by Landlord and Tenant.
LESSOR: BSRT
Phoenix Business Park L.L.C.
By: BSRT
PORTFOLIO CORP., its managing member
By:
/s/_____________________________________
Vice
President
LESSEE:
LightNetworks,
Inc.
By:
Xxxxxx Xxxxxxx
Title
Director - Network Deployment and Construction
Attest:_____________________________________
{CORPORATE
SEAL}
