SECOND AMENDMENT TO LEASE
THIS SECOND AMENDMENT TO LEASE ("2nd Amendment") dated this 6th day of
August, 1998, is entered into by and between DRAPER LAND LIMITED PARTNERSHIP No.
2, A Utah limited partnership ("Landlord"), and 1-800-LENS NOW, INC., dba
1-800-CONTACTS, a Utah corporation ("Tenant")
W I T N E S S F T H:
WHEREAS, Landlord and Tenant entered into a Lease dated November 3,
1997, and a First Amendment dated May 25, 1998 ("Lease") which are incorporated
herein by reference;
WHEREAS, the parties hereto desire to amend certain terms and
conditions of the Lease as specifically indicated in this Amendment. However,
unless specifically amended herein, all terms and conditions of the Lease and
1st Amendment remain in full force and effect;
NOW THEREFORE, in consideration of the mutual promises, representation
and covenants contained herein, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows.
1. The recitals contained herein are hereby incorporated by
reference.
2. Article 1(a) shall be replaced in its entirety by the
following:
1(a) (i) Original Premises. Landlord hereby leases to Tenant, and
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Tenant hereby leases from Landlord, for the term and subject
to the terms and conditions hereinafter set forth, to each and
all of which Landlord and Tenant hereby mutually agree, those
certain premises ("Original Premises"), highlighted on Exhibit
A-l attached hereto, which include approximately 23,379
Rentable square feet. The location of the Original Premises
and related Building is commonly known as: 00 X. Xxxxxxxxx
Xxxx Xx., Xxxx. X, Xxxxx #000, Xxxxxx, XX 00000 (the
"Building").
(ii) Expansion Space. (a) Landlord hereby leases to Tenant, and
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Tenant hereby leases from Landlord, for the term and subject
to the terms and conditions hereafter set forth, to each and
all of which Landlord and Tenant hereby mutually agree, those
certain expansion premises ("Expansion Premises") highlighted
on Exhibit A-2 attached hereto, which includes approximately
8,380 Rentable square feet of office space (the exact Rentable
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square footage and location to be determined by final space
plan). The location of the Expansion Premises shall be on the
2nd floor of the same building as the Original Premises.
(b) Occupancy. Tenant will take occupancy of the
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Expansion Premises on December 15, 1998.
(c) Expansion Space Term. The lease term for the
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Expansion Premises shall be 60 months only,
commencing on December 15, 1998 and ending on
December 14, 2003. Options to extend the lease for
the Expansion space will be the same as the options
for the Original Premises. Nothing in this paragraph
will be deemed to affect the lease term or the
extension option for the Original Premises covered by
the lease and amendment #1.
(d) Rent for Expansion Premises. The monthly Base Rent
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under the Lease will be increased, commencing on
December 15, 1998 by $11,522.50 per month,
representing rent for the Expansion Premises at the
rate of $16.50 per year per rentable square foot.
Therefore, commencing December 15, 1998 the total
monthly Base Rent under the Lease (for both the
Original Premises and the Expansion Premises) will be
$43,668.63 and will continue as designated in lease
amendment #1. On December 15, 2003, after the tenant
vacates the Expansion Premises, the monthly rent will
revert to the rate decimated for the Original
Premises in lease amendment #1.
(e) Additional Parking Stalls. In addition to the
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parking stalls described in the Lease, Tenant will
have the use (from December 15, 1998 through December
14, 2003) of 5 non-reserved stall for each 1,000
rentable square feet included in the Expansion
Premises. These parking stalls will be located
anywhere in the decimated parking area for Building B
and the east section of lot 2 (see attachment B),
subject to availability. There will be no additional
charge for these parking stalls, but Tenant shall be
responsible for the costs of repair and maintenance
of these stalls, which cost will be payable as
Additional Rent.
(f) Tenant Improvement Allowances. Landlord will, at its
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sole cost and expense, provide Base Building
Improvements for the Expansion Premises, as described
in paragraph 2(c) of the Lease. Landlord will also
provide a Tenant Improvement Allowance for the
Expansion Premises in the amount of $22.50 per usable
square foot. Tenant shall pay for all other expenses
of improving the Expansion Premises and preparing
them for occupancy. In the event that Landlord
advances funds in excess of $22.50
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per usable square foot for any Expansion Premises
improvements other than the Base Building
Improvements, Tenant will reimburse Landlord within
ten (10) days after receipt of Landlord's invoice
therefor.
(g) Additional Security Deposit. Upon execution of this
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Second Amendment, Tenant's security deposit under the
Lease will increase by $13,198.50, so that the total
security deposit will be $51,723.50.
(h) Miscellaneous. Except as expressly modified herein,
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the Lease and Amendment #1 remain in full force and
effect between the parties in accordance with their
original terms.
(i) Tenant Improvements. The time schedule for tenant
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improvement documentation is as follows:
1. Tenant approved floor plan layout must be
delivered to the Landlord by September 1,
1998.
2. Tenant approved complete plan including
tenant finishes must be delivered to the
Landlord by September 12, 1998.
Any delay by Tenant beyond these dates will not cause
any change to the term, rent, and parking dates
referenced above in (c), (d), and (e), but may cause
a delay to the date of occupancy referenced above in
(b).
3. The Tenant has under gone a corporate name change hence the Tenant
name for the Lease shall be changed from 1-800-LENS NOW, INC., dba
1-800-CONTACTS, and amended to be 1-800 CONTACTS, INC. a Delaware Corporation.
IN WITNESS WHEREOF, the parties have executed this Lease dated the day
and year first above written.
TENANT, LANDLORD,
1-800-CONTACTS, INC. DRAPER LAND LIMITED
PARTNERSHIP NO. 2
By: [ILLEGIBLE SIGNATURE] By: /s/ Xxx Xxxxxxxxx
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Xxx Xxxxxxxxx
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