Exhibit 10.38
THIRD AMENDMENT AND EXTENSION OF LEASE AGREEMENT
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THIS THIRD AMENDMENT ND EXTENSION OF LEASE AGREEMENT, made and entered
into this 28th day of January, 2004, by and between CB Partners Limited
Partnership, an Ohio limited partnership (hereinafter referred to as,
"Landlord") and KarlNet, Inc., an Ohio corporation (hereinafter referred to as
"Tenant").
WHEREAS, a Lease dated January 30, 2001 (hereinafter referred to as
"Lease") was entered into between Landlord and Tenant in which Tenant leased
approximately 6,376 square feet of the space from Landlord identified as Suite
100 (the "Premises") on the first floor of a certain premises in the Building
known as 000 Xxxxx Xxxxx Xxxxx, Xxxxxx, Xxxx, 00000.
WHEREAS, Landlord and Tenant entered into a First Amendment and Extension
of Lease Agreement dated November 14, 2002, extending the term of lease to
January 31, 2008; and
WHEREAS, Landlord and Tenant entered into a Second Amendment and Extension
of Lease Agreement dated September 22, 2003, to modify the lease to include the
use of Suite 150 for a limited time; and
WHEREAS, now Tenant wishes to Lease Suite 150 consisting of approximately
2,564 rentable square feet for a two year period and use a proportion of the
Tenant Improvement Allowance allocated for Xxxxx 000 xx xxxxxxxx Xxxxx 000; and
NOW THEREFORE, in consideration of the mutual covenants, condition and
agreements hereinafter contained, Landlord and Tenant hereby agree as follows:
1. Tenant agrees to lease Xxxxx 000 xx Xxxxx Xxxxxx X, 000 Xxxxx Xxxxx
Xxxxx, consisting of 2,564 rentable square feet
2. The term of lease for the for Suite 150 shall be two (2) years
commencing February 1, 2004 and terminating on January 31, 2006
3. Tenant shall accept the space in an "as is" condition.
4. Base rent for Suite 150 shall be as follows:
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From To Amount/Month
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February 1, 2004 January 31, 2005 $2,564.00
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February 1, 2005 January 31, 2006 $2,670.83
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5. Tenant shall be permitted to use a portion of the Tenant Improvement
Allowance as described in Paragraph 3 of the First Amendment and
Extension of Lease Agreement dated November 14, 2002 for use in
Suite 150. This portion may not exceed seven thousand six hundred
ninety two dollars ($7,692.00) or three months base rent for Suite
150. Tenant agrees to abide by Section 10 of the Lease.
6. Except as expressly set forth herein the lease shall continue upon
the same terms and conditions as contained therein.
WITNESS: LANDLORD: CB PARTNERS LIMITED
PARTNERSHIP
By: CABRO, INC., an Ohio corporation,
general partner
/s/ Xxxxx X. Xxxxxx By: /s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx, President
WITNESS: TENANT: KARLNET, INC.
/s/ Xxxxxx X. Xxxxxx By: /s/ Xxxxxxx Xxxx
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Xxxxxx X. Xxxxxx Xxxxxxx Xxxx, President
/s/ Xxxx Xxxxxx
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Xxxx Xxxxxx
