EXHIBIT 10.1
Amendment #3 to lease dated July 3, 1991 between Wood Road Associates II
Limited Partnership (Landlord) and Haemonetics Corporation (Tenant) as said
lease has been previously amended by Amendment #1 (undated) and Amendment
#2 dated September 9, 1992.
The terms and provisions of the referred lease and previous amendments are
further amended as follows:
Possession: -Effective 4/1/97, tenant will take possession of
the 12,307 s.f. on the first floor presently leased
by Xxxxxx Production ("The additional demised
premises").
Rentable Floor
Area of Tenants'
Space: -Effective 4/1/97, Tenant occupies 100% of the
building. (43,708 rentable sq.ft.)
Condition: -The additional demised premises is being delivered
to Tenant by Landlord in an "as is" condition.
Term: -The term for the additional demised premises will
commence 4/1/97 and terminate 8/31/02.
Rent: -Fixed rent for the additional demised premises
(12,307 s.f.) is $9.50 p.s.f. annually on a net net
net basis. Payable monthly with the monthly fixed
rent tenant currently pays for the balance of the
building. (Attached schedule for rent.)
Rent
Commencement: -Fixed rent will commence on the earlier to occur of
the issuance of a certificate of occupancy or June
1, 1997.
Extension: -Tenant shall have the right to extend the lease for
the demised premises for one five (5) year period
at 95% of the then fair market rental rate in
existence as of 8/31/02. The Landlord and Tenant
agree to negotiate a fair market rate in good faith
and if unable to agree on a rate, agree to submit
the issue for arbitration with the arbitration
panel to consist of a representative from 3 real
estate brokerage firms such as Xxxxxx Xxxxx &
X'Xxxxxx, Xxxxxxxxx and Xxxx and Xxxxxxxx & Grew
(by way of example)
Building
Management: -Not withstanding the intent of Article VB on page 6
of the original lease, effective 4/1/97 all
operating expenses and obligations for the entire
building of every kind and nature will be paid by
tenant directly to the vendor delivering the
service, except for casualty and liability
insurance and real estate taxes which shall
continue to be paid to the landlord in monthly
installments with the Fixed Rent. Tenants' factor
as of the commencement date of the lease covered by
this Amendment is 100%. Landlord will not incur or
be responsible for the payment of any operating
expenses. Tenant will not be responsible for the
payment of any supervision fee to Landlord as the
management sand supervision of the buildings
operations of every kind and nature except for the
payment for insurance coverage and payment for real
estate taxes as aforesaid are the responsibility of
the tenant. Tenant agrees to continue
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use of current vendors until current contracts expire
at which time tenant may contract with vendor of its
choice to provide services. Tenant agrees to provide
Landlord with evidence of tenants' preventative
maintenance program with respect to buildings H.V.A.C.
systems. Landlord will not provide any building
management services to Tenant. However, Landlord will
maintain roof and exterior structure of the building,
unless repairs to either are necessitated by tenants'
negligence or acts.
-Tenant acknowledges its ongoing obligations
regarding Article VB up to the date that the
provisions of the immediately preceding paragraph
become effective.
All other terms and provisions of the Lease, Amendment #1 and Amendment #2
not specifically modified by this Amendment shall remain in full force and
effect.
Landlord: WOOD ROAD ASSOCIATES II LIMITED PARTNERSHIP
By: s/Xxxxxxx X. Xxxxx Date: 3-27-97
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Xxxxxxx X. Xxxxx, General Partner
Tenant: HAEMONETICS CORPORATION
By: Xxxx X. Xxxxx Date: 3-26-97
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