EX-10.1
SUBLEASE AND DEPOSIT RECEIPT
THIS SUBLEASE is part of the Multi-Tenant Office Lease, between the
Master Lessor (Grace Development Group Inc.) and the Master Lessee (University
of Northern California) dated June 28, 2001 and amended on October 3rd, 2002 and
again amended on September 26th, 2003.
THE PRESENT SUBLEASE is between the UNIVERSITY OF NORTHERN CALIFORNIA
(UNC), as Lessor, and SONOMA COLLEGE, as Lessee, on this eighteenth (18th) day
of November, 2003 witnesseth:
WHEREAS, the parties hereto have entered into certain Indenture of
Sublease (the "sublease") dated November 18, 2003, and
NOW, THEREFORE, the parties hereto agree as follows:
1. PREMISE: Suite 000 xx 0000 Xxxxx Xxxxx Xxxxxxxxx, Xxxxxxxx, XX 00000
consisting of a total of 5,596 rentable square feet.
2. BASE RENT: The base rent shall be as follows:
Monthly Period
Period Covered Base Rent Base Rent
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January 1, 2004 - July 31, 2004 $9,233.40 ($1.650 psf) $ 64,633.80
August 1, 2004 - July 31, 2005 $9,373.30 ($1.675 psf) $112,479.60
August 1, 2005 - July 31, 2006 $9,513.20 ($1.700 psf) $114,158.40
August 1, 2006 - July 31, 2007 $9,653.10 ($1.725 psf) $115,837.20
August 1, 2007 - December 31, 2007 $9,793.00 ($1.750 psf) $ 58,758.00
3. XXXXXX'S DEPOSIT This sublease shall become effective upon signature of
both Lessor and Xxxxxx and upon receipt of deposit equal to the first month's
rent.
4. TENANT IMPROVEMENTS: Master Lessor shall, at Master Lessor's sole cost
and expense, make the changes to Suite 280 per Amendment Number Three of the
Master Lease between Grace Development Group, Inc., as Lessor, and the
University Of Northern California, as Lessee. Additionally, Master Lessor shall
provide up to $500 towards the air-conditioning system in addition to the
ventilation system of Lessee's Anatomy Lab., in a location designated by Lessee
and agreed to by Lessor.
5. BROKERAGE: Xxxxxx and Xxxxxx acknowledge no brokers were engaged in this
transaction other than UNC and SONOMA COLLEGE and no brokerage fees or
commissions are due.
6. EXPIRATION: In the event this Sublease is not executed by Lessee by
Tuesday, November 18th, 2003 at 5:00 p.m., this Sublease shall be null and void.
In all other respects, the terms, covenants and conditions of the Sublease shall
remain in full force and effect. IN WITNESS WHEREOF, the parties hereto set
their hands and seals on the day and year first written above.
LESSOR: LESSEE:
UNIVERSITY OF NORTHERN CALIFORNIA SONOMA COLLEGE
BY: /s/ Illegible BY: /s/ Xxxx Xxxxxxx President
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Date: 11/18/03 Date: 11/18/03
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