Exhibit 10.2
TERMINATION OF LEASE AGREEMENT
THIS TERMINATION OF LEASE AGREEMENT ("Agreement") is executed effective
September 30, 2001, by and between XXXXX LAND LIMITED LIABILITY COMPANY, a
Colorado limited liability company ("LANDLORD") and MAXTOR CORPORATION, a
Delaware corporation ("TENANT")
WITNESSETH:
WHEREAS, LANDLORD and TENANT are parties to certain lease agreements
("Lease") as follows with respect to vacated premises located in Longmont,
Colorado ("Vacated Premises"):
0000 Xxxxxxxx Xxxxxx Lease dated October 19, 1994
1841 Lefthand Circle Lease dated October 19, 1994
1851 Lefthand Circle Lease dated October 19, 1994
0000 Xxxx Xxxx Lease dated February 24, 1995
0000 Xxxxxx Xxxxx Lease dated February 28, 1995
0000 Xxxxxx Xxxxx Lease dated June 20, 1995
0000 Xxxxxx Xxxxx Lease dated October 27, 1998
0000 Xxxxxx Xxxxx Lease dated October 19, 1994
0000 Xxxxxx Xxxxx Lease dated October 19, 1994
WHEREAS, LANDLORD and TENANT executed a lease agreement dated November
2, 1999 for premises located at 0000 Xxxxxx Xxxxx Xxxxx, Xxxxxxxx, Xxxxxxxx
("0000"), containing Paragraph 39.4 - Termination of Existing Leases.
WHEREAS, LANDLORD and TENANT desire herein to enter into an Agreement
with respect to termination of the remaining term of each of the Vacated
Premises, with the exception of the lease agreement for 2452.
NOW, THEREFORE, in consideration of mutual covenants and conditions
contained herein and for such other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties agree as follows:
1. TENANT acknowledged and affirms that the lease agreement for 2452
is in full force and effect, and TENANT occupies 2452.
2. Effective Sunday, September 30th, 2001, TENANT has vacated the
Vacated Premises.
3. TENANT acknowledged and affirms that the lease agreement for 0000
Xxxxxx Xxxxx executed September 22, 1998 and amended by Addendum
executed April
17, 2001, is in full force and effect, and TENANT occupies the
premises.
4. LANDLORD hereby terminates the lease agreements for the Vacated
Premises effective midnight, October 1, 2001, subject to the
terms and conditions of Paragraph 39.4 - Termination of Leases as
defined in the lease agreement for 2452.
5. Nothing in this Agreement shall relieve TENANT or LANDLORD from
each of their respective indemnification obligations under
Paragraph 21 of each lease relating to Environmental compliance.
6. Upon execution of this Termination of Lease Agreement, TENANT
hereby releases and forever discharges LANDLORD, its agents,
contractors, employees, successors and/or assigns, from any and
all actions, causes of action, liabilities, suits, claims,
damages, costs or expenses, including attorneys' fees, now
existing or hereafter arising, whether known or unknown, arising
out of or resulting from each lease, except as noted in Section 5
above.
7. Subject to TENANT'S compliance with Section 4 above, and the
payment of all rents and other charges due under the respective
leases, LANDLORD hereby releases and forever discharges TENANT,
its agents, contractors, employees, successors and/or assigns,
from any and all actions, causes of action, liabilities, suits,
claims, damages, costs or expenses, including attorneys' fees,
now existing or hereafter arising, whether known or unknown,
arising out of or resulting from each lease, except as noted in
Section 5 above.
8. This Agreement and the releases contained herein shall inure to
the benefit of and be binding upon successors, legal
representatives and assigns of the parties hereto.
9. In the event of any conflict between this Agreement and the
provisions of each Lease, this Agreement shall control. In the
event of any controversy, claim or dispute between the parties
affecting or related to the subject matter or performance of this
Agreement, the prevailing party shall be entitled to recover from
the non-prevailing party all of its reasonable expenses,
including but not limited to attorneys' fees, accountant's fees
and costs.
IN WITNESS WHEREOF, the parties hereto have executed this Termination of
Lease Agreement as of the date first written above.
LANDLORD: TENANT:
XXXXX LAND LIMITED LIABILITY MAXTOR CORPORATION
COMPANY
By: /s/ Xxxxxxx X. Xxxxxxxx By: /s/ Xxxxxxx Xxxxxxx
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Xxxxxxx X. Xxxxxxxx Xxxxxxx Xxxxxxx
Manager Assoc. General Counsel
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