FIRST AMENDMENT TO LEASE
THIS FIRST AMENDMENT TO LEASE ("Amendment") dated this 25th day of May,
1998, is entered into by and between DRAPER LAND PARTNERSHIP II, L.C., a Utah
Limited Liability Company ("Landlord"), and 1-800-CONTACTS, INC. a Utah
corporation ("Tenant").
W I T N E S S E T H:
WHEREAS, Landlord and Tenant entered into a Lease dated November 3,
1997, ("Lease") which is incorporated herein by reference;
WHEREAS, the parties hereto desire to amend certain terms and
conditions of the Lease as specifically indicated in this Amendment. However,
unless specifically amended herein, all terms and conditions of the Lease and
1st Amendment remain in full force and effect;
NOW THEREFORE, in consideration of the mutual promises, representation
and covenants contained herein, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows.
1. The recitals contained herein are hereby incorporated by reference.
2. Article 1(a) shall be replaced in its entirety by the following:
1(a) Landlord hereby leases to Tenant, and Tenant hereby leases from
Landlord, for the term and subject to the terms and conditions hereinafter set
forth, to each and all of which Landlord and Tenant hereby mutually agree, those
certain premises ("Premises"), highlighted on Exhibit A attached hereto, which
include approximately 23,379 Rentable square feet. The location of the Premises
and related Building is commonly known as: 00 X. Xxxxxxxxx Xxxx Xx., Xxxx. X,
Xxxxx #000, Xxxxxx, XX 00000 (the "Building").
3. Article 4(a) shall be replaced in its entirety by the following:
4(a) Base Rent. Total Base Rent shall be 16.50 per Rentable square foot
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or $385,753.50, subject to an annual increase as provided below, payable as
follows: $32,146.13 per month, payable in advance each month on or before the
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1st day of each month during the duration of the Lease, with the first such
monthly rental
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payments being due upon the execution of the Lease. Any partial months shall
be prorated accordingly. Base Rent under this Article will be increased by
sixty cents ($0.60) after the thirteenth month of the lease and each year
thereafter including any option period, (after adjustment to fair market value
at beginning of the Option period). All Base Rent and additional rent
(collectively "Rents") shall be paid as follows, unless otherwise directed in
writing: Draper Land Partnership II, L.C.; Attn: Xxx Xxxxxxxxx; 00 Xxxx
Xxxxxxxxx Xx., Xxxxxx, XX 00000.
IN WITNESS WHEREOF, the parties have executed this Lease dated the day
and year first above written.
TENANT, LANDLORD,
1-800 CONTACTS, INC. DRAPER LAND PARTNERSHIP II
By: [ILLEGIBLE SIGNATURE] By: /s/ Xxx Xxxxxxxxx
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Xxx Xxxxxxxxx
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