THIRD AMENDMENT TO LEASE AGREEMENT
Exhibit
10.20
THIRD
AMENDMENT TO LEASE AGREEMENT
IT IS HEREBY AGREED BY THE
UNDERSIGNED, that the Lease Agreement made and entered into the 23RD day of
SEPTEMBER, 2005, by and between FULLERTON BUSINESS CENTER, Lessor, and ALLIED
MED. INC., AN OREGON CORPORATION, Lessee, for the premises commonly known as:
2500 E. FENDER AVENUE, UNIT “I & K” XXXXXXXXX, XX 00000, shall be extended
for a period of TWO (2) YEARS AND TWO (2) MONTHS, commencing OCTOBER 1, 2008,
and ending on NOVEMBER 30, 2010.
All other terms and conditions of
said Lease Agreement are incorporated herein by reference and shall remain in
full force and effect during this extended term, except as follows:
1. Lessee agrees to pay to Lessor
during this extended term, in advance, at such places as may be designated from
time-to-time by Lessor, without deduction or offset, and Lessor agrees to accept
as rent for the Leased premises monthly installments of TWO THOUSAND THREE
HUNDRED FIFTY-EIGHT AND 00/100 ($1,072.00) Dollars, together with such other
assessments, additions and pass- throughs as are described in the Lease
Agreement. See paragraph 4.2 of your
Lease Agreement.
/s/
2. Lessor and Lessee agree that the
rent increase commencing OCTOBER 1, 2009, shall be determined pursuant to the
terms set forth in the Addendum to the THIRD Amendment to Lease Agreement which
is attached hereto and made a part hereof. /s/
3. Lessee shall pay to Lessor the sum
of N/A ($00.00) Dollars, concurrent
with the execution of this Amendment representing an increase in Security
Deposit. Lessor acknowledges the sum of *SEVEN THOUSAND SEVENTY-FOUR AND
00/100
($7,074.00) Dollars, as security for the faithful performance of each
and every
term, covenant and condition of said Lease Agreement pursuant to Paragraph
FIVE (5) of said Lease Agreement. This security includes the previous
amounts
received as security deposit. **Previously paid $3,456.00
3A. [Section 3A was lined
through and deleted by the parties. It read as follows:] Lessee agrees to be
bound by the "Rules and Regulations" and "Parking Rules and Regulations" now in
effect as Exhibits "A and B" attached hereto, and any additional Rules and
Regulations and Parking Rules and Regulations which may be promulgated by Lessor
during the extended Lease term. /s/
4. Lessee warrants and represents
that there are no present and outstanding breaches of Lease by Lessor, and that
Lessee has no claims or offset of any kind or nature against
Lessor.
5. No rubbish, containers or debris
are to be left outside of Lessee's unit. All refuse is to be placed in
designated trash bins. Any debris is subject to immediate removal by Lessor at
Lessee's expense. This rule applies to pallets as well. Lessee shall not place
in any trash box or receptacle any material, which cannot be disposed of in the
ordinary and customary manner of trash and garbage disposal. All garbage and
refuse disposal shall be made in accordance with directions issued from
time-to-time by Lessor. Lessee shall reimburse Lessor, upon demand, for trash
removal service to the Property allocated to the Premises by Lessor on a prorata
basis. If Lessor shall determine that the trash generated by or at the Premises,
in Lessor's reasonable estimation, shall be excessive, Lessee shall pay to
Lessor, upon demand, such additional charges, as Lessor shall equitably impose
for such excess trash removal. Lessor shall have the option to contract for a
single trash removal service for the entire Complex.
6. Notwithstanding the restrictions
contained within California Civil Code §1950.7, Lessor may utilize the security
deposit for any and all debt owed by Lessee to Lessor, including (but not
limited to) future rental or worth at time of the award damages as codified in
Civil Code §1951.2, or rent as it accrues pursuant to Civil Code §1951.4. To the
extent that this is inconsistent with California Civil Code §1950.7, Lessee
waives the protections of Civil Code 1950.7, Lessee waives any rights under
California Civil Code §3275 and California Civil Code §1174(c) and §1179 and any
and all current or future laws which give Lessee a right to redeem, reinstate,
or restore this lease after it is terminated as a result of the Lessee's
breach.
EXCEPT AS HEREINABOVE AMENDED, the
Lease Agreement shall remain unchanged and shall continue in full force and
effect.
Dated this 5th day of November,
2008.
LESSOR:
LESSOR:
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LESSEE:
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FULLERTON
BUSINESS CENTER
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ALLIED
MED. INC., AN OREGON CORPORATION
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By:
MID VALLEY MANAGEMENT
|
|
Managing
Agent
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By: /s/ Xxxxx
Xxxxxxx
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By:
/s/ Xxxx
Xxxx
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XXXXX
XXXXXXX, AUTHORIZED AGENT
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XXXX XXXX, PRESIDENT
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By:
/s/ Xxxx
Xxxx
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XXXX XXXX, VICE PRESIDENT
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ADDENDUM
TO THE THIRD AMENDMENT TO LEASE AGREEMENT
THIS
ADDENDUM is attached to and integrated as a part of that certain THIRD
Amendment to Lease Agreement dated SEPTEMBER 23, 2005, by and between
FULLERTON
BUSINESS CENTER, Lessor, and ALLIED MED, INC., AN OREGON CORPORATION,
Lessee
and constitutes additional Agreements and Conditions contained herein,
which
Addendum shall prevail in the event of any conflict between the Agreements
and
Conditions contained herein and those in said THIRD Amendment.
On each
anniversary date of the renewal term, the monthly rental payment shall be
increased
by $106.00. Lessor's failure and/or inadvertence to request a payment of
an
estimated or actual rent adjustment shall not constitute as a waiver or an
estoppel
of Lessor's right to demand any adjustment (including retroactive payments,
if
applicable) provided for in the Lease Agreement or this Addendum.
On each
anniversary date of the renewal term, the monthly rental payment shall be
increased
by $106.00. Lessor's failure and/or inadvertence to request a payment of
an
estimated or actual rent adjustment shall not constitute as a waiver or an
estoppel
of Lessor's right to demand any adjustment (including retroactive payments,
if
applicable) provided for in the Lease Agreement or this Addendum.
AMEND
LEASE TERMS –
FIXED
INCREASE
ADINC.DOC
(REV.6/90)
PAGE 1 OF
1
RENT CONCESSION
AGREEMENT
THIS
DOCUMENT shall
set forth the agreement of Fullerton Business
Center, "Lessor", and Allied Med.
Inc., an Oregon Corporation, "Lessee", concerning the Rent Concession
offered to Lessee in connection with that certain Lease dated September 23rd 2005, by and between
Lessor and Lessee for the Premises located at: 0000 X. Xxxxxx Xxxxxx, unit numbers
"T & T",
City of Fullerton, State of
California.
AS
MATERIAL CONSIDERATION for the Rent Concession set forth herein is Lessee's
agreement to lease the Premises on all terms and provisions of the Lease for the
entire Lease term. Lessee acknowledges that the Free Rent as set forth below
(herein called "Rent Concession") is a concession given to Lessee for leasing
the Premises for a term stated in the Lease Agreement. In the event Lessee
becomes in default of any Lease provision at any time during the Lease team,
Lessor and Lessee agree that: (a) in addition to any other remedy available to
Lessor, Lessor shall be entitled to recover from Lessee the total rental amount
of all Rent Concessions taken by Lessee prior to such default date; (b) Lessee
agrees to pay such amount to Lessor with the next rental payment; and (c) future
Rent Concessions shall then be null, void and of no force and effect. Lessee
shall be entitled to Free Rent and/or common area maintenance charges including
tenant's prorata share of the trash
removal and/or Rent Concession(s) for the period of time referenced
below:
October
1, 2008 tam October 31, 2008
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$2,358.00
Rent
|
|
October
1, 2008 thru October 31, 2008
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$
211.20 CAM
|
|
November
1, 2008 thru November 30, 2008
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$2,358.00
Rent
|
|
November
1, 2008 thru November 30, 2008
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$
211.20 CAM
|
The Rent
Concessions referenced above equal a fair rental value in a sum as determined at
the time the Rent Concession commences.
THIS
DOCUMENT shall not be deemed binding upon Lessor unless and until it is executed
by Lessor and a copy is delivered to Lessee.
Dated
this 5 day of October, 2008.
“LESSOR":
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“LESSEE”:
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FULLERTON
BUSINESS CENTER,LLC
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ALLIED
MED, INC.
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an
Oregon Corporation
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By
Alexico, Inc., a California Corporation
|
|
DBA
Mid Valley Management,
|
|
Managing
Agent
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By: /s/ Xxxx
Xxxx
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Xxxx
Xxxx, President
|
|
By: /s/ Xxxxx
Xxxxxxx
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By: /s/ Xxxx
Xxxx
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Xxxxx
Xxxxxxx, Authorized Agent
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Xxxx
Xxxx, Vice President
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