THIRD ADDENDUM TO LEASE
This addendum is entered into this 18th day of September, 2000, by and
between VALLEY AMERICAN INVESTMENT COMPANY, X.X. Xxx 000, Xxxxxxx, Xxxx 00000,
as Landlord; and XXXXXXX COMMUNICATIONS CORPORATION, of 0000 Xxxx Xxxxxxxx Xxx,
Xxxx Xxxxxx Xxxx, XX 00000, as Tenant.
Whereas, both Tenant and Landlord have executed a uniform lease
agreement dated the 26th day of February, 1996, a First Addendum to Lease dated
the 31st day of January, 1997, and a Second Addendum to Lease dated the 2nd day
of May, 1997. The size of Tenant's leased premises is 40,250 square feet. The
current lease term shall expire on October 31, 2006.
Whereas, the purpose of this Third Addendum is to increase the size of
the leased premises.
Whereas, Tenant is desirous of leasing an additional 11,510 square feet
located at 0000 Xxxx Xxxxxxxx Xxx, Xxxxx 0 (the "Expansion Space"). Therefore,
the total size of the leased premises shall be 51,760 square feet.
The term for this expansion space shall commence on September 1, 2000,
and shall run co-terminously with the original lease, the First and Second
Addendums, expiring on October 31, 2006.
In consideration of this Addendum, Landlord and Tenant agree as follows:
a. Tenant shall take space in its current, as is condition.
b. Landlord shall deliver possession of the expansion space to
Tenant upon execution of this Addendum.
c. Tenant shall pay rent as follows:
=================== ================= ================= ================ =================
ITEM 09/01/00- 11/01/00- 11/01/02- 11/01/04-
10/31/00 10/31/02 10/31/04 10/31/06
------------------- ----------------- ----------------- ---------------- -----------------
Base Rent Per 22,258.00 24,039.00 25,912.00 28,039.00
Lease
------------------- ----------------- ----------------- ---------------- -----------------
1st Addendum 488.60 488.60 488.60 488.60
Amortization
------------------- ----------------- ----------------- ---------------- -----------------
2nd Addendum 1,049.00 1,049.00 1,049.00 1,049.00
Amortization
------------------- ----------------- ----------------- ---------------- -----------------
3rd Addendum 4,550.00 4,550.00 4,914.00 5,307.12
Expansion
------------------- ----------------- ----------------- ---------------- -----------------
CAM Budget 4,775.00 4,775.00 4,775.00 4,775.00
------------------- ----------------- ----------------- ---------------- -----------------
Total Monthly 33,120.60 34,901.60 37,138.60 39,658.72
Payment
=================== ================= ================= ================ =================
d. Tenant and Landlord agree if the space located at 0000 Xxxx
Xxxxxxxx Xxx, Xxxxx 0 (the "option space") ever becomes available
during the lease term, Tenant must, at Landlord's discretion,
lease this option space.
1. Tenant can lease the "option space" consisting of
approximately 7,214 square feet. Rent for the "option
space" shall be at the same rate as the current rent on
the expansion space at the time Tenant takes possession of
the "option space."
2. If Tenant does not want the "option space" described
above, Tenant must give up the "front office" space and
"rear loading" space (as shown on the attached Exhibit
"A") to Landlord so that Landlord may have a "marketable"
Suite #6. Tenant's rent and size shall then be reduced
accordingly.
Except as modified by the provisions of this Addendum, all terms,
conditions and provisions of the Lease shall remain unchanged and in full force
and effect.
Executed by the parties on the day and year first written above in Salt
Lake City, Utah.
LANDLORD: VALLEY AMERICAN INVESTMENT
/s/Xxxxxxx X. Xxxxxxxx
------------------------------------------------
Xxxxxxx X. Xxxxxxxx
Vice President
TENANT: XXXXXXX COMMUNICATIONS CORPORATION
/s/Xxxxx Xxxxxx
------------------------------------------------
By: Xxxxx Xxxxxx
Its: Chief Financial Officer
STATE OF UTAH )
County of Salt Lake )
On the 22nd day of September, 2000, personally appeared before me
XXXXXXX X. XXXXXXXX, the signer of the foregoing lease addendum who duly
acknowledged to me that he executed the same.
/s/
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NOTARY PUBLIC
STATE OF UTAH )
County of Salt Lake )
On the 18th day of September, 2000, personally appeared before me Xxxxx
Xxxxxx, the signer of the foregoing lease addendum who duly acknowledged to me
that he/she executed the same.
/s/
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NOTARY PUBLIC
