Exhibit 10.33
EXTENSION TO THE A.I.R. STANDARD INDUSTRIAL/COMMERCIAL SINGLE TENANT LEASE - NET
DATED NOVEMBER 11, 1997 BY AND BETWEEN XXXXXXX X. XXXXX AND XXXXX X. XXXXX AS
LESSOR AND LUMINENT, INC., A SUBSIDIARY OF MRV COMMUNICATIONS INC. AS LESSEE FOR
THE PROPERTY COMMONLY KNOWN AS 0000 XXXXXXXXXX XXXXXX, XXXXXXXXXX, XXXXXXXXXX
DRAFTED September 25.2002.
55. Lessor and Lessee agree to extend the original Lease for an additional
five (5) years, commencing January 1, 2003 and ending December 31,
2008. The base rent per month stated in Paragraph 1.5 shall be adjusted
to $4,250.00.
56. The Base Rent stated in Paragraph 1.5 shall be adjusted annually on
January 1st of each succeeding year by a fixed three percent (3%).
57. Option to Extend. Lessor hereby grants to Lessee the option to extend
the term of this lease for one (1) additional thirty-six (36) month
period commencing when the prior term expires upon each and all of the
following terms and conditions.
(i) In order to exercise an option to extend, Lessee must give
written notice of such election to Lessor and Lessor must
receive the same at least six (6) but not more than nine (9)
months prior to the date that the option period would
commence, time being of the essence. If proper notification of
the exercise of an option is not given and/or received, such
option shall automatically expire.
(ii) The provisions of paragraph 39, including those relating to
Lessee's Default set forth in paragraph 39.4 of this Lease,
are conditions of this Option.
(iii) Except for the provisions of this Lease granting an option or
options to extend the term, all of the terms and conditions of
this Lease except where specifically modified by this option
shall apply.
(iv) This Option is personal to the original Lessee, and cannot be
assigned or exercised by anyone other than said original
Lessee and only while the original Lessee is in full
possession of the Premises and without the intention of
thereafter assigning or subletting.
(v) The monthly rent for each of the option period shall be
calculated as per paragraph 56 above.
AGREED AND ACCEPTED:
LESSEE LESSOR
/s/ Xxxx Xxxxx /s/ Xxxxxxx X. Xxxxx
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Xxxx Xxxxx, President & C.E.O Xxxxxxx X. Xxxxx, Owner
/s/ Xxxx Xxxxx /s/ Xxxxx X. Xxxxx
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Xxxx Xxxxx, CFO Xxxxx X. Xxxxx, Owner
10/18/02 10-21-02
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