FIFTH AMENDMENT TO LEASE
RENEWAL AND EXPANSION
That certain Lease dated 10/26/90 by and between Xxxx Xxxxxx Partners
and Petula Associates, Ltd., assigned to Petula Associates Ltd., an Iowa
corporation and principal Mutual Life Insurance Company, an Iowa
corporation doing business as KC Creekside-Phase I, Landlord, and
Protocol Systems, Inc., Tenant, is amended this 24th day of December,
1997 solely as hereinafter described.
1.b. Address (Leased Premises): 8500 and 0000 XX Xxxxxxxxx Xxxxx,
Xxxxxxxxx, Xxxxxx
1.c. Landlord Address For Notices: c/o Insignia/Forum Commercial
Group, 0000 XX Xxxxxx Xxxxxx, Xxxxx 000, Xxxxxxxxx, Xxxxxx 00000
l.e. Premises Area: Approximately 94,646 square feet.
0000 XX Xxxxxxxxx Xxxxx: 65,147 square feet
0000 XX Xxxxxxxxx Xxxxx: 30,499 square feet
l.f. Project Area: Approximately 155,784 square feet
1.g. Premises Percent of Project: 60.7%, combined
1.h. Term of Lease:
0000 XX Xxxxxxxxx Xxxxx
Renewal Commencement date: January 1, 2001
Expiration date: December 31, 2005
0000 XX Xxxxxxxxx Xxxxx
Commencement date: July 1, 1999
Expiration date: December 31, 2005
l.i. Base Monthly Rent:
0000 XX Xxxxxxxxx Xxxxx
January 1, 2001 - December 31, 2003 $61,581
January 1, 2004 no rent, operating expenses
only
February 1, 2004 - December 31,2005 $67,996
0000 XX Xxxxxxxxx Xxxxx
July 1, 1999 - June 30, 2002 $29,279
July 1, 2002 no rent, operating expenses
only
August 1, 2002 - December 31, 2005 $32,329
Rental abatements shall be given if Tenant is current on all payments
due Landlord, and provided there is no current uncured event of default
by Tenant under this Lease.
1.l Total Security Deposit:
$17,541 in security is currently held for 0000 XX Xxxxxxxxx Xxxxx.
$32,329 in security required to be deposited with Landlord for
0000 XX Xxxxxxxxx Xxxxx on July 1, 1999.
x.x. Broker: Xxx Xxxxxxx, Xxxxxx Xxxx. (8605 SW Creekside Place Only)
TENANT IMPROVEMENT ALLOWANCE: Landlord shall provide $7 per square foot
to Tenant for the purpose of making standard improvements to each
building, with plans and specifications subject to the Landlord's
reasonable review and approval. Said allowance shall be available for
the 0000 XX Xxxxxxxxx Xxxxx building in 1999 in order to improve the
building for a July 1 occupancy. Said allowance shall be available for
the 0000 XX Xxxxxxxxx Xxxxx building January 1, 2001. Total improvement
dollars may be used in either 8605 or 0000 XX Xxxxxxxxx Xxxxx.
38. RIGHT OF FIRST OPPORTUNITY: The terms of this section stand as
written, except the particular buildings covered by this right shall now
include 0000 XX Xxxxxxxxx Xxxxx and 0000 XX Xxxxxxxxx Xxxxx.
A clarification on this right: Any renewal or extension rights held by
existing building tenants make precedence over the Right of First
Opportunity.
RIGHT OF FIRST OPPORTUNITY TO RENEW: During the extended term of this
Lease, so long as Tenant is not then in default under this Lease,
Landlord agrees not to enter into any lease of the Premises with any
third-party tenant without first offering Tenant an opportunity to renew
the Lease for one successive term of five (5) years. This right of
first opportunity shall be personal to Tenant and shall automatically
become null and void and of no further force or effect in the event of
any assignment or sublease. Landlord shall offer such opportunity to
renew by notifying Tenant in writing thereof. If within seven (7)
business days from the effective date of such notice Landlord has
received written notice from Tenant of its election to renew the Lease
for the renewal term, then Landlord shall not enter into a lease of the
Premises with a third-party tenant and the Lease shall be binding for
the renewal term without further action of the parties. In such event,
the renewal term shall commence on the day following the expiration date
of the Lease. Notwithstanding the foregoing, Tenant acknowledges and
agrees that its right of first opportunity to renew is and shall be
subordinate to any existing option or expansion rights in favor of other
tenants as of the date of this agreement. The terms and conditions of
the Lease for the renewal term shall be identical with the existing
Lease except that Base Rental shall be the then fair market rental value
of the Premises as determined by Landlord, by comparison with the fair
market rental value of comparable space in Creekside Corporate Park, but
in no event less than the last rental payable under this Lease.
All other terms and conditions of said Lease shall remain in full force
and effect.
IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as
of the date first written above.
LANDLORD: Petula Associates, Ltd., an Iowa corporation, and Principal
Mutual Life Insurance Company, an Iowa company, doing business as
KC Creekside-phase I
By: /s/ Xxxxxxxx X. Xxxxx /s/ Xxxxxx X. Xxxxxxx
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Xxxxxxxx X. Xxxxx Xxxxxx X. Xxxxxxx
Counsel Counsel
/s/ Xxxxxx Xxxxxx /s/ Xxxxx Benningdorf
--------------------- -------------------------
Xxxxxx Xxxxxx Xxxxx Benningdorf
2nd Vice President Assistant Director
Commercial Real Estate Loans Commercial Real Estate
TENANT: Protocol Systems, Inc.
By: /s/ Xxxxx X. Xxxxxxx
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Xxxxx X. Xxxxxxx
Vice President, Finance
