EXHIBIT 10.03(b)
THIRD ADDENDUM TO LEASE
This Third Addendum to Lease by and between TCLW/Fullerton, a California
general partnership ("Landlord") and Nelco Products, Inc., a Delaware
corporation ("Tenant") shall amend that certain Lease Agreement dated August
16, 1983 and shall amend the First Addendum to Lease known as Exhibit "C"
dated August 16, 1983 and shall amend the second Addendum to Lease and the
Addendum to Lease known as Exhibit "E" dated January 26, 1987.
For purposes of this Addendum the existing leased premises at 1411 and 0000
X. Xxxxxxxxxxxx Xxxxxx shall be called "1411" and the additional leased
premises at 0000 X. Xxxxxxxxxxxx Xxxxxx shall be called !1431". The space
at "1411" and "1431", together shall be called "Premises".
64. Demised Premises. Commencing April 1, 1991 Tenant shall increase its
current space of 57,702 square feet ("1411") to include the adjacent
space of approximately 14,160 square feet ("1431"), as further
outlined in Exhibit "G" attached.
65. Extension of 0000 X. Xxxxxxxxxxxx Xxxxxx Lease. In consideration for
the terms and conditions of the leasing of "1431", Tenant shall
execute the attached Fourth Addendum to Lease thereby exercising its
option to extend the existing Lease at 0000 X. Xxxxxxxxxxxx Xxxxxx.
66. Lease Term. The Lease term with respect to "1431" shall be for seven
(7) years and six (6) months commencing on April 1, 1991 and ending on
September 30, 1998.
67. Rent Schedule. The rent with respect to "1431" shall be at the same
rate per square feet as is paid on the 57,702 square feet at "1411".
For example, if the monthly rent paid at "1411", after the April 1,
1991 (Adjustment Date) increase was increased to $.42 per square feet
($21,776.22 x 1.1125/57,702 square feet) the monthly rent for "1431"
would be $5,945.04. The final rental rate will depend on the CPI rate
used on the Adjustment Date. This example uses an annual rate of
4.5%.
The rental rate on any Option to Extend will be increased pro rata to
recognize the additional square feet leased at "1431".
68. Option to Extend. While this Lease is in full force and effect Tenant
shall have the option to extend the term for the Lease on the entire
Premises for two further terms of sixty (60) months provided that
Tenant is not in default of any of the terms, covenants, and
conditions of Lease.
69. Tenant's Proportionate Share. Tenant's Proportionate Share as
referenced in Paragraph 60 of the Lease shall be increased to 75.88%:
(Total building area = 94,702 square feet; leased premises "1431" and
"1411" equal 71,862 square feet).
70. Tenant Improvements. Tenant shall be leasing the premises at "1431"
in an "as is" condition with the exception that Landlord shall provide
an opening in the demising wall separating "1411" from "1431". As
shown on Exhibit G to Third Addendum to Lease.
The Lease term shall commence and all Tenant's obligations under this
Lease, including payment of rent, shall commence on April 1, 1991,
regardless of the status of the above work to be performed by
Landlord. Landlord agrees to diligently pursue and complete such
work.
67A. Regardless of anything contained herein to the contrary, the Rent with
respect to "1431" for April 1991 and May 1991 shall be abated. The
total Rent Concession offered to Tenant is approximately $11,890.00.
71. Parking. Tenant shall be granted an additional eighteen (18) parking
spaces, in common.
72. Copies of notices referred to in Paragraph 43(d) of the Lease
Agreement shall be sent to:
Park Electrochemical Corporation
0 Xxxxxx Xxxxx
Xxxx Xxxxxxx, Xxx Xxxx 00000
Attention: General Counsel
All other terms and conditions of the Lease shall remain in full force
and effect for the leased premises at "1431".
LANDLORD:
TCLW/FULLERTON,
a California general partnership
By:
Its:
Date:
TENANT:
NELCO PRODUCTS, INC.
a Delaware corporation
By:
Its:
Date:
FOURTH ADDENDUM TO LEASE
This Fourth Addendum to Lease is to be attached to and form a part of the
Lease (which together with any amendments, modifications and extensions
thereof is hereinafter called the Lease), made the 16th day of August,
1983, by and between TCLW/Fullerton, a California general partnership
("Landlord") and Nelco Products, Inc., a Delaware corporation ("Tenant")
covering the premises known as 1411 (including 1421 and 1431) E.
Orangethorpe Avenue, Fullerton, California.
1. Extension Term: The Lease is hereby renewed and extended for a
further term of sixty (60) months to commence on the 1st day of October,
1993 and to end of the 30th day of September, 1998, on the condition that
Landlord and Tenant comply with all the provisions of the covenants and
agreements contained in the Lease.
2. Monthly Rental: A Consumer Price Index adjustment shall be
substituted for the "fair market rental value" rent adjustment in
Paragraph 51(b).
2.1 The method for calculating the rent for the option period is
described in Paragraphs 2.2 and 2.3.
2.2 The index for computing the rent for the period beginning
October 1, 1993 (Adjustment Date) shall be the average of the
following two indices published by the United States Department of
Labor, Bureau of Labor Statistics (1982-84 - 100): (I) the Consumer
Price Index for Urban Wage Earners and Clerical Workers for the Los
Angeles-Long Beach-Anaheim Metropolitan Area (hereinafter referred
to as "CPI-W"), and (ii) the Consumer Price Index for All Urban
Consumers for the Los Angeles-Long Beach-Anaheim Metropolitan Area
(hereinafter referred to as "CPI-U"), which are in effect on April
1, 1991 ("Beginning Index"). The average of the CPI-W and CPI-U
published most immediately preceding the Adjustment Date ("Extension
Index") shall be compared with the Beginning index. If the Index as
now constituted, compiled and published, shall be revised or cease
to be compiled and published during the term hereof, then the Bureau
of Labor Statistics shall be requested to furnish a statement
converting the index to a figure that would be comparable in another
index published by the Bureau of Labor Statistics and such other
index shall be used in computing the adjustment in the Basic Rent
provided herein. Should the parties not be able to secure the
appropriate conversion or adjustment, they shall agree on some other
index serving the same purpose to adjust the Basic Rent as provided
herein.
2.3 The Rent payable during the 30 month period following the
Adjustment Date shall be the amount equal to the Rent payable during
the previous thirty (30) month period of the Term multiplied by a
fraction, the numerator of which is the Extension Index and the
denominator of which is the Beginning Index, provided however that
the percentage increase described above shall average not less than
3% nor more than 8% per year, and further that the rent for the
adjusted period shall never be less than the rent for the prior
period.
2.4 The monthly rental set on October 1, 1993 shall become the
"Base Date" referenced in Paragraph 50 and shall be the basis for
future adjustments as described in Paragraphs 50 and 51.
The parties hereto have signed this extension agreement this
day of , 1990.
LANDLORD:
TCLW/FULLERTON,
a California general partnership
By:
Its: General Partner
Date:
TENANT:
NELCO PRODUCTS, INC.
a Delaware corporation
By:
Its:
Date:
[exh1003b]
