SECOND ADDENDUM TO LEASE DATED 2/10/88
between
MIC FOUR POINTS, A CALIFORNIA PARTNERSHIP
and
XXXXXX BIOMEDICAL, INC.
This Second Addendum to Lease is made and entered into this 7th day of October,
1988 by and between MIC Four Points ("Landlord") and Xxxxxx Biomedical, Inc.
("Tenant").
WHEREAS, Landlord and Tenant entered into a Lease Agreement dated February 10,
1988 ("The Lease") as amended by the First Addendum to Lease dated February 10,
1988 under the terms of which Landlord leased to Tenant and Tenant leased from
Landlord, that certain real property located at 0000 Xxxxxxxxxx Xxxxx, Xxx
Xxxxx, Xxxxxxxxxx ("Demised Premises").
WHEREAS, Landlord and Tenant wish to increase the total space leased by the
Tenant, adjust the Commencement Date of the Lease, lengthen the Term of the
Lease by two months and increase the Tenant Improvement Allowance to be provided
by the Landlord to the Tenant.
NOW THEREFORE, the parties mutually agree to amend the Lease as follows:
1. RENTABLE AREA OF PREMISES: The building equals 28,032 gross square feet
and such shall be used in calculating rent throughout the term of the
Lease.
2. RENT: The basic rent as defined in Section 3.1 of the Basic Lease
Information and Paragraph 3 of the lease shall be as follows:
Months Rate/Sq. Ft. Monthly Rent
------ ------------ ------------
1-60* $1.00 $28,032.00
61-100 $1.17 $32,797.44
101-124 $1.29 $36,161.28
* For the purposes of the above detail, month number 1 shall be
defined as the first full calendar month during the Term of the Lease.
Any rent payable for a partial month before the first full calendar
month will be determined on a pro rate basis at the rate of $.83 per
square foot.
The rent for months 1 through 12 (12 in total), shall accrue
and not be due and payable until the 60th month of the Lease term
except as otherwise provided as follows: on the first day of the 60th
month Landlord will save the accrued rent referenced to above provided
that there has been no prior termination of this Lease and the Tenant
is not then in default hereunder. All operating expenses shall be due
and payable for every month are never abated.
The parties intend for the Term of this Lease to expire on the
last day of a full calendar month. Accordingly, if the Commencement
Date is other than on the first day of a full calendar month, thereby
causing Paragraph 2.1 to indicate an expiration date other than the
last day of a full calendar month, then the Term of this Lease shall be
extended until the last day of the full calendar month within which the
expiration date otherwise indicated by Paragraph 2.1 falls, and the
actual expiration date of the Term of this lease (the "Expiration
Date") shall be the last day of such full calendar month.
Initials CTC DRB
Addendum #2
to Lease Dated 2/10/88
Page Two
3. TERM: The Term of the Lease shall be ten (10) years. The Lease shall
commence on October 1, 1988, except where Landlord is responsible for
delay of completion. A delay of completion by Landlord shall be deemed
to have occurred for every day greater than 105 days that elapses
between the date permit for Tenant Improvements is issued and given to
Landlord and the date Certificate of Occupancy is received. Should such
delay of completion occur, the Lease Commencement Date shall be
extended from October 1, 1988 by the number o days of said delay of
completion, and Tenant shall be credited for rent paid for periods
which are subsequently outside of the Lease term.
4. TENANT IMPROVEMENTS: The Landlord shall pay for Tenant Improvements up
to Eight Hundred Five Thousand and 00/100 Dollars ($805,000.00). Any
expenses above and beyond this incurred by Landlord for Tenant
Improvements shall be reimbursed by Tenant to Landlord within thirty
(30) days of receipt of invoice.
Tenant shall reimburse Landlord Three Hundred Thirty-Six Thousand Three
Hundred Eighty- Four and 00/100 Dollars ($336,384.00) in twelve (12)
equal monthly payments for above standard Tenant Improvements. Each
payment shall be due at the beginning of the month, commencing October
1, 1988. Each payment shall be $28,032.00. Should the actual total
Tenant Improvements be less than Eight Hundred Five Thousand and 00/100
Dollars ($805,000.00), the final month's reimbursement payment shall be
reduced by an amount equal to the difference between the actual total
Tenant Improvements and $805,000.00.
5. MISCELLANEOUS: Except as expressly provided hereinabove, all other
terms and conditions of the Lease shall apply herein and remain in full
force and effect. In the event of any conflict between the terms of
this Addendum to Lease and those of the Lease the First Addendum to
Lease, the terms of this Addendum will be deemed to have superseded
those of the Lease and the First Addendum to Lease and exclusively will
govern the matter in question.
IN WITNESS WHEREOF, this Addendum to Lease is duly executed as of the day and
year first hereinabove written.
LANDLORD TENANT
MIC FOUR POINTS, XXXXXX BIOMEDICAL, INC.
a California limited partnership
/s/ D. Xxx Xxxx /s/ Xxxxxxx X. Xxxxxxx
-------------------------------- -----------------------------
By: By: President
October 13, 1988 October 7, 1988
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Date Date
