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EXHIBIT 10.3
SECOND AMENDMENT TO LEASE
This Amendment ("Agreement") is made as of the 2nd day of
September, 1997 by and between LIBERTY PROPERTY LIMITED PARTNERSHIP, a
Pennsylvania limited partnership (hereinafter called "Landlord"), and CIPRICO,
INC., a Delaware corporation (hereinafter called "Tenant").
BACKGROUND:
A. Tenant and Landlord's predecessor-in-interest are parties to
that certain Lease dated as of December 3, 1991 with respect to certain
premises containing approximately 30,982 square feet of Rentable Area
consisting of suites 60, 70, 80, 90, 100, 110 and 120 in that certain building
known as the 0000 Xxxxxx Xxxxx Xxxxxxxx, all as more particularly described in
the Lease.
B. The Lease was amended by that certain First Amendment to Lease
dated July 1, 1996 by and between Tenant, as tenant, and NWBC Associates
Limited Partnership, as landlord (the "First Amendment"). The term "Lease"
herein shall mean the Lease, as so amended.
C. Landlord is the successor-in-interest to NWBC Associates
Limited Partnership.
D. The First Amendment, among other things, provides that
effective February 1, 1998, the Premises shall be increased by the 5,460 square
feet shown crosshatched on Exhibit A to the First Amendment.
E. Subject to the terms and conditions set forth below, Landlord
and Tenant desire to amend the Lease so as to accelerate the effective date of
the expansion of the Premises from February 1, 1998 to October 1, 1997.
AMENDMENT:
Now, therefore, for good and valuable consideration, the receipt and
legal sufficiency of which the undersigned acknowledge, the undersigned agree
as follows:
1. Section 2.2 of the First Amendment is hereby amended and
restated in its entirety as follows:
"2.2. Effective October 1, 1997, the Premises shall
be increased by that 5,460 square feet shown crosshatched on
the attached Exhibit A (the "Additional Space")."
2. Section 2.3 of the First Amendment is hereby amended and
restated in its entirety as follows:
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"2.3 Effective October 1, 1997, Tenant's percentage
of occupancy for determination of Tenant's pro rata share of
Operating Expenses and Real Estate Taxes shall be increased to
fifty six and 39/100ths percent (56.39%).
3. Section 2.4 of the First Amendment is hereby amended and
restated in its entirety as follows:
"The Base Rent schedule, payable in equal monthly
installments in advance in accordance with Section 2 of the
Lease, based on 36,442 square feet, shall be as follows:
PERIOD BASE RENT MONTHLY BASE RENT
PER SQUARE FOOT
10/1/97-12/31/97 $7.00 $21,257.83
1/1/97-7/31/00 $8.87 $26,936.71
8/1/00-10/31/02 $9.76 $29,639.49"
4. The parties agree that notwithstanding the acceleration of the
effective date for the expansion of the Premises from February 1, 1998 to
October 1, 1997, the date set forth in Section 2.5 of the First Amendment by
which payment of the $100,024 leasehold improvement allowance must be made
shall remain unchanged at February 1, 1998.
5. This Second Amendment is contingent upon Landlord obtaining
control of the Additional Space, currently leased to Xxxxxx Distributing, on or
before October 1, 1997. If for any reason Xxxxxx Distributing has not
relinquished the Additional Space to Landlord on or before October 1, 1997,
this Second Amendment shall be null and void and of no force or effect.
6. Except as may be otherwise specifically provided, the Premises
and the Additional Space shall be leased to Tenant on the terms and conditions
set forth in the Lease. In the event of any inconsistencies between the terms
of the Lease and this Agreement, the terms of this Agreement shall have
control. All capitalized terms not otherwise defined herein shall have the
meaning given to them in the Lease.
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The parties have executed this Agreement as of the date stated in the
opening paragraph of this Agreement.
TENANT: CIPRICO, INC. BY:
BY: /s/ Xxxx X. Xxxxxx
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ITS: V.P. of Finance/CFO
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LANDLORD: LIBERTY PROPERTY LIMITED
PARTNERSHIP
BY: LIBERTY PROPERTY TRUST, GENERAL PARTNER
BY: /s/ illegible
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ITS: Senior Vice President
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EXHIBIT A
Floor plan of leased premises showing additional 5,460 square feet being
leased.
