EXHIBIT 10.11(d)
SECOND AMDENDMENT TO
ONE THOUSAND BROADWAY BUILDING LEASE AGREEMENT
By and Between
One Thousand Broadway Building Limited Partnership
and
Portland Software, Inc.
This Second Amendment is entered into and executed by ONE THOUSAND BROADWAY
BUILDING LIMITED PARTNNERSHIP ("Landlord"), and PORTLAND SOFTWARE, INC., an
Oregon corporation ("Tenant").
RECITALS
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A. Landlord and Tenant have previously entered into an agreement to lease
space in the One Thousand Broadway office building which lease was dated
July 3, 1996, and amended on November 26, 1996, covering the following
premises:
Approximately 11,578 rentable square feet of space (the "Premises")
and situated on the eighteenth (18/th/) floor of the One Thousand
Broadway Building (the "Building") located at Xxxx 0,0,0 xxx 0, Xxxxx
000, Xxxx of Portland, in the City of Portland, County of Multnomah,
State of Oregon, the Premises being more particularly described in the
Lease to which reference is here made for all purposes.
B. Tenant has requested and Landlord has agreed to expand Tenant into
additional space on the 17th floor, extend the initial term of the lease
and up to amortize additional tenant improvements over the lease term.
Tenant and Landlord desire to amend the Lease to evidence their agreements.
Unless otherwise indicated, all capitalized terms used herein shall have
the same meanings as are attributed thereto in the Lease.
NOW, THEREFORE, Landlord and Tenant desire to amend the Lease to evidence their
agreement with respect to the foregoing:
TERMS AND CONDITIONS
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1. Premises Tenant agrees to expand into approximately 6,224 rentable square
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feet as of March 1, 1998 or as soon as the required tenant improvements are
completed and the subject space is available for occupancy, resulting in a
total of 17,802 rentable square feet.
2. Tenant Improvements: Landlord has agreed to provide Tenant with an
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allowance of $13.00 per rentable square foot ($80,912) and, in addition
agrees to amortize up to $45,081 over the term of the lease, together with
interest at 10% per annum.
3. Lease Term: The lease term shall be extended to the end of the month five
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(5) years from the completion of the tenant improvements in the expansion
space.
4. Base Rent: Effective March 1, 1998, or as soon as the required tenant
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improvements are completed and the monthly base rent charges will be as
follows:
Existing Expansion
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Premises Premises Amortization* Total
--------------- --------------- ------------------ ---------------
March 1998-June 1998: $16,665.22 $10,373.33 $949.92 $27,988.47
July 1998-Sept 1999: $17,147.63 $10,373.33 $949.92 $28,470.88
October 1999-August 2000: $18,112.47 $10,373.33 $949.92 $29,435.72
Sept 2000-Feb 2002: $18,112.47 $11,670.00 $949.92 $30,732.39
March 2000-December 2002: $21,708.75 $11,670.00 $949.92 $34,328.67
*Assumes authorization of $45,081; may be adjusted due to final amount
authorized.
5. Tenant's Percentage of Operating Expenses: Tenant's percentage of operating
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expenses will be adjusted as follows:
Existing Premises Expansion Premises Total
----------------- ------------------ -----
4.82% 2.59% 7.41%
6. Base Year for Operating Expenses: The base year for operating expenses
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shall be the 1998 calendar year.
7. Parking: Landlord will provide Tenant with five (5) additional parking
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stalls in the building at the then current market rate; total parking
stalls after the expansion is completed will total fourteen (14) spaces.
Executed in multiple counterparts, effective as of the 9 day of November, 1997.
LANDLORD: TENANT:
One Thousand Broadway Building Limited Portland Software, Inc.
Partnership, an Oregon limited partnership
By: /s/ Xxxxxx Xxxxxxxx
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By: 1000, Inc., General Partner Name: Xxxxxx Xxxxxxxx
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By: /s/ Xxxxxx X. Xxxxx Title: CFO
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