EXHIBIT 10.14
THIRD AMENDMENT TO LEASE
THIS THIRD AMENDMENT TO LEASE ("Third Amendment") dated August 10, 2006 for
reference purposes, is made and entered into by and between L.A.T. INVESTMENT
CORPORATION, a California corporation ("Landlord"), and COMPUMED, INC., a
Delaware corporation ("Tenant").
RECITALS
The Third Amendment is made with reference to the following facts and
objectives:
A. Landlord and Tenant entered into a written lease dated June 24, 1999 (the
"Lease") in which Landlord leased to Tenant and Tenant leased from Landlord
certain premises located at 0000 Xxxx Xxxxxxx Xxxxxxxxx, Xxxxxx 0000 and 315,
Xxx Xxxxxxx, Xxxxxxxxxx 00000 (the "Premises"). The Lease has been amended by
First and Second Amendments.
B. Tenant desires to extend the Lease Term, and Landlord agrees to such
extension on and subject to the terms, covenants and conditions set forth in
this Third Amendment.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants set forth herein,
Landlord and Tenant do hereby amend the Lease as follows:
1. Lease Term
The Lease Term shall be extended for a period of one (1) year ("Extended Term")
commencing on September 1, 2006 and expiring on August 31, 2007.
2. Rent
The Monthly Rent for the Premises shall be $12,176.74 effective September 1,
2006.
3. Tenant Improvements
Upon execution of this Third Amendment, Landlord shall have the carpet in the
Premises steam cleaned and walls painted as needed.
4. Excused Rent
Notwithstanding section 5.2 of the Lease, Landlord hereby conditionally waives
Tenant's obligation to pay one half (1/2) of the Monthly Rent in months 6 and 12
of the Extended Term for a total of two (2) months, subject to all the
provisions of section 5.2 of the Lease.
RATIFICATION.
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Except as modified expressly or by necessary implication hereby, all of the
terms and conditions of the Lease shall remain unchanged and in full force and
effect. To the extent the provisions of this Third Amendment are inconsistent
with the provisions of the Lease, the provisions of this Third Amendment shall
control and supersede such inconsistent provisions in the Lease.
IN WITNESS WHEREOF, the parties have executed this Third Amendment as of the
date set forth below.
TENANT:
COMPUMED, INC., a Delaware corporation
By: /s/ Xxxx X. XxXxxxxxxx
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Xxxx X. XxXxxxxxxx
Date Signed: August 23, 2006
LANDLORD:
L.A.T. INVESTMENT CORPORATION, a California Corporation
By: /s/ Xxxxx X. Xxxxx
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Xxxxx X. Xxxxx
Date Signed: October 25, 2006
