Exhibit 10.12.3
FOURTH AMENDMENT TO LEASE
THIS AMENDMENT, made and entered into this 15th day of December, 2003,
by and between PARK SPE, LLC, herinafter called "Lessor," and CXT INCORPORATED,
a Delaware corporation hereinafter called "Lessee."
RECITALS
WHEREAS, on April 1, 1993, the Lessor and Lessee entered into an
agreement of Lease covering those certain premises described as Spokane County
Altered Binding Site Plan No. 87-17, Spokane County Binding Site Plan Xx. 00-00,
xxx Xxxxxxx Xxxxxx Xxxxxxx Xxxx Xxxx Xx. 00-00, containing approximately
8,619,217 gross square feet (Building S-16), located at 0000 Xxxxx Xxxxxxxx
Xxxx, situated in the County of Spokane, the State of Washington.
WHEREAS, on March 28, 1996 the Lessor and Lessee entered into a First
Amendment to Lease covering those certain premises whereby expanding its
Premises to include 2.765 acres of Parcel A (located East of Tract A) and
increasing the monthly Base Rent and Common Area Expenses.
WHEREAS, on June 30, 1999 the Lessor and Lessee entered into an
Amendment to Lease covering those certain premises whereby Lessee entered into
an transaction wherein its stockholders sold all of their stock to X.X. Xxxxxx
Company, which sales constituted a transfer of the Lessee's interest in the
Lease requiring Lessor's consent. The Lease and all addendums and amendments
thereto are hereinafter collectively referred to as the "Lease."
WHEREAS, on November 7, 2002 the Lessor and Lessee entered into a Third
Amendment to Lease covering those certain premises whereby extending the Term of
the Lease for an additional year effective January 1, 2003.
WHEREAS, the Lessee now desires to extend the Term of Lease for an
additional seven (7) month period effective January 1, 2004.
NOW, THEREFORE, in consideration of the Premises and agreements herein
contained, it is hereby agreed as follows:
Article 1.3. Project, shall be amended as follows:
The Premises shall be described as approximately 56,000 square feet in
Building #S-16 and approximately 00/00 xxxxx xx xxxx (Xxxxx X) of Binding Site
Plan 87-17 and Binding Site Plan 88-21, records of Spokane County, Washington.
Article 3. Term, shall be amended as follows:
The Term of the Lease shall be extended for an additional seven (7)
month period effective January 1, 2004 and shall end on July 31, 2004.
If prior to the end of the Term, Lessee is able to negotiate a contract
for a duration of not less than two (2) years involving product
manufactured in the Premises, Lessor and Lessee agree to negotiate in
good faith a new lease for the Premises which upon mutual execution
will replace the Lease and any amendments thereto.
Article 4. Base Rent, Paragraph 4.1, shall be amended as follows:
January 1, 2004 through July 31, 2004 $24,041.00 per month
Section 37. Subordination, shall be amended as follows:
Without the necessity of any additional document being executed by
Lessee for the purpose of effecting a subordination, and at the
election of Lessor or any mortgagee with a lien on the Premises, this
Lease will be subject and subordinate at all times to the lien of any
mortgage or deed of trust which may now exist or hereafter be executed
in any amount for which the Premises, the building containing the
Premises or the development or the project of which the Premises is a
part, or Lessor's interest or estate in any of said items is specified
as security. Lessee will execute and deliver within five (5) days of
notice form Lessor at Lessor's expense instruments subordinating this
Lease to any such mortgage or evidencing such subordination. Provided,
however, Lessor shall provide to Lessee an agreement in writing from
any such mortgagee to the effect that so long as Lessee shall
faithfully discharge its obligations under this Lease, its tenancy will
not be disturbed nor this Lease affected by any default such as
mortgage, and that in the event of a sale of the Premises in
foreclosure or any sale, transfer or conveyance in lieu thereof, that
same will be sold, transferred or conveyed subject to this Lease.
EXCEPT for the new terms and conditions listed above, all other terms
and conditions of the Lease and any subsequent amendment(s) shall remain in full
force and effect.
In WITNESS WHEROF, the said Lessor and Lessee have executed this
amendment to lease the day and year first written above.
LESSOR: LESSEE:
PARK SPE, LLC CXT INCORPORATED,
a Delaware corporation
/s/Xxx X. Xxxxx /s/Xxxx Xxxxxxx 1/2/04
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Xxx X. Xxxxx, Authorized Representative Xxxx Xxxxxxx, Vice President
