EXHIBIT 10.22
FIRST AMENDMENT TO LEASE
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THIS FIRST AMENDMENT TO LEASE is made as of the 15th day of September,
1995, by and between HMS OFFICE, LIMITED PARTNERSHIP ("Landlord"), and TANNING
TECHNOLOGY CORPORATION, a Colorado corporation ("Tenant").
W I T N E S S E T H:
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WHEREAS, HD DELAWARE PROPERTIES, INC., a Delaware corporation, as landlord,
and TANNING TECHNOLOGY CORPORATION, a Colorado corporation, as tenant, entered
into that certain Lease Agreement dated January 31, 1995 (the "Lease") for
premises in the office building located at 0000 Xxxxx Xxxxxx Xxxxxx, Xxxxxx,
Xxxxxxxx 00000 (the "Building"); and
WHEREAS, Landlord has succeeded to all right, title and interest of the
most recent owner of the Building (being HD Delaware Properties, Inc.); and
WHEREAS, the parties hereto now desire to amend the Lease, as set forth
herein but not otherwise.
NOW, THEREFORE, in consideration of the covenants and conditions set forth
herein and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto, intending to be legally
bound, hereby agree as follows:
1. Defined Terms
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For purposes of this First Amendment to Lease, capitalized terms and
other defined items used herein but not defined herein shall have the meanings
ascribed to them in the Lease. In the event any of the terms of the Lease
conflict with the terms of this First Amendment, the terms of this First
Amendment shall control.
2. Increase in Lease Premises
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Commencing on the Effective Date (as hereinafter defined) the Lease
Premises shall be increased from 3,928 rentable square feet to 6,048 rentable
square feet located on the third floor of the Building, as shown on Exhibit B
attached hereto and bearing the Effective Date. The Termination Date of the
Lease as it applies to the added 2,120 square feet shall be the same as that
with respect to the original 3,928 square feet.
3. Tenant's Proportionate Share
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Subject to adjustments in accordance with Section l.C.(12) of the
Lease, commencing on the Effective Date, Tenant's proportionate Share shall be
increased to 2.293 percent.
4. Base Rent
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Commencing on the Effective Date, Base Rent shall be (i) for the added
2,120 square feet $32,860.00 per annum (based on $15.50 per square foot of
rentable area) payable in equal monthly installments of $2,738.33 from the
Effective Date through May 31, 1999; and (ii) shall continue for the original
3,928 square feet to be $79,542.00 per annum (based on $20.25 per square foot of
rentable area per annum) payable in equal monthly installments of $6,628.50.
From June 1, 1999 through April 9, 2000, the Base Rent for (i) the added 2,120
square feet of rentable area shall be $42,400.00 per annum (based on $20.00 per
square foot of rentable area), payable in equal monthly installments of
$3,533.33; and (ii) shall continue for the original 3,928 square feet to be
$79,542.00 per annum (based on $20.25 per square foot of rentable area per
annum) payable in equal monthly installments of $6,628.50. All of the foregoing
rent shall be calculated and paid in accordance with the terms of the Lease as
herein amended.
5. Brokerage Commissions
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Landlord and Tenant hereby represent and warrant to each other that no
commission is due and payable to any broker or other leasing agent in connection
with this First Amendment as a result of its own dealings with such broker or
leasing agent, other than Tenant's agent Xxxxxx X. Xxxxx, to whom Landlord shall
pay $2,120.00 upon Landlord's execution of this First Amendment, and Landlord
and Tenant hereby agree to indemnify and hold each other harmless from and
against all loss, damage, cost, and expense (including reasonable attorneys'
fees) suffered by the other party as a result of a breach of the foregoing
representation and warranty.
6. As-is Condition
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(a) Except as set forth below in subparagraph (b) of this paragraph 6,
Tenant shall accept said 2,120 square feet in their as-is condition on the
Effective Date, and Tenant is not entitled to any allowance or credit for
improvements thereof or thereto.
(b) Tenant shall promptly, and at Tenant's sole cost, cause to be
constructed a demising wall to separate said 2,120 square feet from the premises
heretofore leased to The Xxxx Company. The demising wall shall be designed by an
architect and constructed by a general contractor, in compliance with the
provisions of the Lease, and both of whom have been theretofore approved by
Landlord, which approval shall not be unreasonably withheld or delayed. Tenant
shall pay for all of the foregoing
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costs promptly as due and shall not permit any mechanics' liens to be filed
therefor. From and after the Effective Date, Tenant shall be responsible for
assuring that unauthorized persons shall not have access from the leased
premises to the remaining premises leased to The Xxxx Company.
7. Additional Parking
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Commencing on the Effective Date, in addition to the parking spaces to
which Tenant is entitled under the Lease, Tenant shall have the following
parking spaces and shall pay the amounts applicable thereto: (i) one additional
assigned parking space in the garage for which Tenant shall pay $36.75 per month
through 1995 and which charge shall increase on the first day of 1996 and each
Calendar Year thereafter by 5% of the charge for the preceding Calendar Year;
and (ii) two unassigned parking spaces in the garage and three on the surface
lot at no charge. Except as set forth above, such additional parking spaces
shall be given and taken on the terms of Exhibit E to the Lease.
8. Effect on Option to Extend
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Any exercise by Tenant of its Option to Extend granted by Rider No. 2
to the Lease shall include the aforesaid 2,120 rentable square feet. The rent
for the entire 6,048 square feet shall be calculated as one unit in the same
manner as provided in Rider No. 2, and the other provisions of Rider No. 2 shall
be applicable to the 6,048 square feet as one unit.
9. Full Force and Effect
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Except as amended herein, all terms and conditions of the Lease shall
remain in full force and effect throughout the duration of the Term. The Lease,
as amended herein, constitutes the entire Agreement between the parties hereto
and no further modification of the Lease, as amended herein, shall be binding
unless evidenced by an agreement in writing signed by Landlord and Tenant.
10. Effective Date
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The Effective Date shall be September 15, 1995.
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IN WITNESS WHEREOF, Landlord and Tenant have executed this First Amendment
as of the day and year first above written.
LANDLORD:
HMS OFFICE, LIMITED PARTNERSHIP
By: Xxxxx Office Company, L.L.C.
Its General Partner
By: /s/ Xxx Xxxxx
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Manager
TENANT:
TANNING TECHNOLOGY CORPORATION
a Colorado Corporation
By: /s/ Xxxxx X. Tanning
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Its: President
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EXHIBIT B
[Diagram of floorplan]
Space Increase of 2,120 Square Feet of Net Rentable Area
Total Revised Square Footage: 6,048 Square Feet of Net Rentable Area
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