EXHIBIT 10.11(C)
FIRST AMENDMENT TO
ONE THOUSAND BROADWAY BUILDING LEASE AGREEMENT
By and Between
One Thousand Broadway Building Limited Partnership
and
Portland Software, Inc.
This First Amendment is entered into and executed by ONE THOUSAND BROADWAY
BUILDING LIMITED PARTNERSHIP ("Landlord"), and PORTLAND SOFTWARE, INC., an
Oregon corporation ("Tenant").
RECITALS
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A. Landlord and Tenant have previously entered into an agreement to lease
space in the One Thousand Broadway office building which lease was dated
July 3, 1996, covering the following premises:
Approximately 11,578 rentable square feet of space (the "Premises")
and situated on the eighteenth (18th) floor of the One Thousand
Broadway Building (the "Building") located at Xxxx 0, 0, 0 xxx 0,
Xxxxx 000, Xxxx of Portland, in the City of Portland, County of
Multnomah, State of Oregon, the Premises being more particularly
described in the Lease to which reference is here made for all
purposes.
B. Tenant has requested and Landlord has agreed to extend the initial term of
the lease and amortize additional tenant improvements over the lease term.
Tenant and Landlord desire to amend the Lease to evidence their agreements.
C. Unless otherwise indicated, all capitalized terms used herein shall have
the same meanings as are attributed thereto in the Lease.
NOW, THEREFORE, Landlord and Tenant desire to amend the Lease to evidence their
agreement with respect to the foregoing:
TERMS AND CONDITIONS
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1. Lease Term: The lease term shall be extended to February 28, 2002.
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2. Tenant Improvements: Landlord has agreed to amortize $12,232 over the
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remaining lease term commencing January 1, 1997 and expiring February 28,
2002 with interest of 12% per annum.
3. Base Rent: Effective January 1, 1997, base rent charges will be as
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follows:
Original Premises Amortization Total
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January 1997-June 1998: $ 16,402.17 $263.05 $16,665.22
July 1998-September 1999: $16, 884.58 $263.05 $17,147.63
October 1999-February 2002: $ 17,849.42 $263.05 $18,112.47
Executed in multiple counterparts, effective as of the 26 day of November, 1996.
LANDLORD: TENANT:
One Thousand Broadway Building Limited Portland Software, Inc.
Partnership, an Oregon limited partnership
By: /s/ Xx Xxxxxxxx
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By: 1000, Inc., General Partner
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Name: Xx Xxxxxxxx
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By: /s/ Xxxxxx X. Xxxxx
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Title: CFO
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