EXHIBIT 10.1
FIFTH ADDENDUM TO LEASE DATED AUGUST 24, 1995 BY AND BETWEEN DELL ENTERPRISES
AND SOLOPOINT, INC., FOR PREMISES AT 000-X XXXXXXX XXXXX, XXX XXXXX,
XXXXXXXXXX.
Whereas Tenant wishes to renew the above referenced lease, Landlord and Tenant
agree to the following additional terms and conditions.
1. Term:
The term shall be for one (1) year commencing October 1, 1999 and ending on
September 30, 2000.
2. Rental Rate:
Monthly base rent shall be $14,722.20 NNN through the term of the Lease.
Expenses for taxes, insurance and maintenance (NNN) shall be billed
monthly.
Utilities are billed monthly, and are not part of the NNN expenses.
3. Tenant Improvements:
Tenant presently occupies the Premises, and accepts same in their "As Is"
condition.
4. Security Deposit:
Tenant shall deposit with Landlord an amount equal to $6,870,36 as
additional Security Deposit, to bring the total Security Deposit to
$14,722.20.
5. Option to renew Lease:
Tenant shall have the option to renew this Lease for 2 one (1) year
options. The rent first option year shall be $15,540.10 NNN per month; and
for the second option period $16,358.00 NNN per month.
6. Notice to renew Lease:
Tenant agrees to notify Landlord in writing not less than ninety (90) days
prior to the expiration of this Lease term, provided, Tenant wishes to
renew its Lease. If Tenant does not give such notice, Landlord shall
proceed to market said premises to other Tenants.
7. Late Charges:
If any rent is not received by Landlord within six (6) working days after
rent is due, Tenant shall pay to Landlord a late charge of FIVE PERCENT of
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Tenant's monthly rent as liquidated damages, in lieu of actual damages and
attorney fees and costs. The parties agree that this late charge represents
a reasonable estimate of the expenses that Landlord will incur because of
any late payment in Rent (other than interest and attorney fees and costs).
Tenant shall pay the late charge as Additional Rent with the next
installment of Rent.
Initial here for the above paragraph. Tenant: /s/ Landlord: /s/
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All other terms and conditions shall be as stated in the above referenced Lease.
LANDLORD: TENANT:
DELL ENTERPRISES, SOLOPOINT, INC.
a California limited partnership
By /s/ XXX By /s/ XXX
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Title General Partner Title Chief Financial Officer
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Date 9/13/99 Date 9/7/99
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