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Exhibit 10.66
FOURTH LEASE AMENDMENT
BETWEEN
BENAROYA CAPITAL COMPANY, LLC
AND
THE CORDADA GROUP, INC.
DATE: AUGUST 18, 1999
This Fourth Lease Amendment is attached to and made part of that certain Lease
dated June 10, 1994, as amended by that Addendum One dated June 23, 1994, and by
the First Lease Amendment dated September 30, 1996, and by the Second Lease
Amendment dated April 11, 1997, and by the Third Lease Amendment dated February
23, 1998 by and between Benaroya Capital Company, LLC, a Washington limited
liability company, successor in interest to Xxxxxxx North, a Washington general
partnership, hereafter called Lessor ("Lessor"), and The Cordada Group, Inc.
formerly known as Information Technology Services, Inc. hereinafter called
Lessee ("Lessee"), covering Suite 200-201 (4,375 rentable square feet) in
Building B, located in the property commonly known as Xxxxxxx North Office Park
and located at 0000 000xx Xxxxxx XX, Xxxxxxxx, Xxxxxxxxxx (the "Premises"). The
Premises are more particularly described in the Lease.
The terms used herein shall have the same definitions as set forth in the Lease.
In consideration of the mutual covenants and promises contained in this Fourth
Lease Amendment, the Third Lease Amendment, the Second Lease Amendment, the
First Lease Amendment, the Addendum One and the Lease, Lessor and Lessee agree
as follows:
1. SECTION 1 LEASED PREMISES: Section 1, Leased Premises, of the Lease is
hereby deleted and replaced with the following language as Section 1
Leased Premises:
Lessor leases to Lessee the "Premises" which consists, for the purposes
of this Lease of approximately 4,563 rentable square feet in Xxxxx
000-000 xx Xxxxxxxx X of the Xxxxxxx North Office Complex located at
0000 000xx Xxxxxx XX, Xxxxxxxx, Xxxxxxxxxx 00000 and 1,917 rentable
square feet in Xxxxx 000 xx Xxxxxxxx X xx xxx Xxxxxxx Xxxxx Xxxxxx
Complex located at 0000 000xx Xxxxxx XX, Xxxxxxxx, Xxxxxxxxxx 00000.
The legal description of the real property comprising the Xxxxxxx North
Office Complex is set forth on Appendix A attached and referred to as
if incorporated in full herein by this reference. The locations of
Building B and Building A in relation to the rest of the office complex
are set forth in Appendix B, attached and referred to as if
incorporated in full herein by this reference.
For purposes of computing the rental adjustment in Paragraph 19, the
agreed "net rentable square feet of space of the Office Complex,"
consisting of buildings A through E inclusive, is currently 93,305 net
rentable square feet as that term has been referenced and described
herein.
Lessor also grants to Lessee the rights of ingress and egress to and
from the Premises, the adjoining parking areas and then to public
streets, and the right to use in common entrances, lobbies, hallways,
stairways, elevators, and other public areas, and the means of ingress
and egress to and from the said facilities, without any additional rent
being due therefor.
2. SECTION 2 TERM: The Term of the Lease is hereby extended one (1) year
commencing July 15, 2000 and terminating July 14, 2001.
3. SECTION 3 RENT AND RENT DEPOSIT: Section 3, Rent and Rent Deposit, of
the Lease is hereby deleted and replaced with the following language as
Section 3 Rent and Rent Deposit:
Commencing September 15, 1999 Lessee covenants and agrees to pay
to Lessor in advance without notice or demand the sum of Eleven
Thousand Four Hundred Twenty and no/100 ($11,420.00) on the first
day of every month, subject to the adjustments which may be made
pursuant to Paragraph 19 hereof. Commencing July 15, 2000 Lessee
covenants and agrees to pay to Lessor in advance without notice or
demand the sum of Thirteen Thousand Three Hundred Sixty-Five and
no/100 ($13,365.00) on the first day of every month, subject to
the adjustments which may be made pursuant to Paragraph 19 hereof.
Rent for any fractional calendar month at the beginning or end of
the term shall be the prorated amount of the monthly rent due for
that month. The prorated amount shall be computed by dividing the
monthly rent for the applicable month by the number of days in
said month and multiplying that per diem rate by the number of
days of occupancy. Lessee hereby agrees to pay concurrently
herewith the first and the last month's rent for the term of this
Lease, No interest or benefits shall accrue in favor of Lessee
with regard to said last month's payment of rent by Lessee.
Lessee's Rent Deposit, to be applied to the last month of the
Lease Term, shall be increased from Seven Thousand Five Hundred
Eighty-six and No/100 ($7,586.00) to Thirteen Thousand Three
Hundred Sixty-Five and no/100 ($13,365.00).
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4. SECTION 19.5 DEFINITIONS: Effective September 15, 1999 the Base Year
for the Premises located in Suite 101 of Building A shall be 1999.
Effective July 15, 2000 the Base Year for the Premises located in Suite
200-201 shall be 2000.
5. OPTION TO RENEW: Provided Lessee has not been in default of any term or
condition of the Lease, as amended, Lessee shall have the Option to
Renew this Lease on all of the terms and conditions contained in the
Lease, as amended, except Monthly Minimum Rent for one (1) term of one
(1) year ("Extended Term") following expiration of the Initial Term.
The Monthly Minimum Rent for the Extended Term shall be the Market Rent
as negotiated at the time of Lessee's exercise of this Option to Renew.
Lessee shall notify Lessor of Lessee's exercise of this Option to Renew
not more than three hundred (300) days nor less than two hundred
seventy (270) days prior to the expiration of the Initial Term of this
Lease. Lessor and Lessee shall have thirty (30) days following Lessee's
notice to Lessor to establish the Monthly Minimum Rent. If Lessor and
Lessee fail to establish the Monthly Minimum Rent within this thirty
(30) day time period Lessee's Option to Renew shall be canceled.
6. RATIFICATION: Except as specifically provided, this Fourth Lease
Amendment, that Third Lease Amendment, that Second Lease Amendment,
that First Lease Amendment, that Addendum One and that Lease are hereby
ratified and approved.
7. ALLOWANCE FOR TENANT IMPROVEMENTS: Lessor will allow up to $1.00 per
square foot of rental space for any tenant improvements made by the
Lessee within Building A. The total allowance would be no greater than
$1,917.
DATED THIS 18TH DAY OF AUGUST, 1999.
LESSOR: LESSEE:
BENAROYA CAPITAL COMPANY, LLC THE CORDADA GROUP, INC.
/s/ Xxxxx X. Xxxxxxxx /s/ Xxxxxx X. Xxxxxxxx
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By: Xxxxx X. Xxxxxxxx By: Xxxxxx X. Xxxxxxxx
Its: Manager Its: CEO
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