AGREEMENT TO MODIFY AND EXTEND
TERM OF LEASE AGREEMENT
AGREEMENT ("Agreement") made and entered into as of the 27th day of
December, 2001 by and between Highland Ranch, Inc. ("Landlord") and Qcomm
International, Inc. ("Tenant") (together, the "Parties") modifying and extending
the term of that "Lease Agreement" ("Lease") which Lease was entered into by the
parties the 22nd day of November. 1999 (including that "Lease Addendum" entered
into by the parties the 29th day of November, 1999) a copy of which Lease is
attached hereto as Exhibit "A".
RECITALS
WHEREAS, pursuant to 2.1 of the Lease, the Lease is to terminate at
12:00 pm December 31, 2001;
WHEREAS, the Lease provides, at 2.1, that the Tenant shall have the
option of leasing the premises located at 0000 Xxxxx 0000 Xxxx, Xxxx. XX 00000
(6,546 sq. ft.) for an additional two-year period after said termination date
following the schedule set forth in Exhibits "B" attached to the Lease;
WHEREAS, the Tenant and the Parties are desirous of entering into an
agreement extending the term of the Lease for said additional two-year term;
WHEREAS, the Lease further provides, at 7.1 that the Tenant shall pay
to Landlord, on a monthly basis, certain amounts for real estate taxes, building
insurance and common area charges, and that, furthermore, said amounts are
estimates only and subject to annual increases;
WHEREAS, the actual amounts for real estate taxes, building insurance
and common area charges have been ascertained during the pendency of the present
Lease term, and the Parties are desirous of modifying the terms of the lease to
reflect said actual amounts; and
WHEREAS, the Parties agree that this agreement is in their respective
best interests.
NOW, THEREFORE, based upon the above recitals and the consideration set
forth herein, the Parties hereby agree as follows:
1. That the term of the Lease is hereby extended for a term of two (20
additional years, which terms shall commence at 12:01 p.m. December 31,
2001 and end at 12:00 p.m. December 31, 2003.
2. That all provisions of the Lease not otherwise modified by this
Agreement shall remain in full force and effect.
3. That in addition to rent and any other late charges and late fees which
may be due and owing to Landlord under the Lease, including those
amounts set forth at Exhibit "B" of the Lease, Tenant shall pay to
Landlord on a monthly basis the amount of three hundred seventy-five
dollars ($375.00), for the costs of real estate taxes, building
insurance and common area charges. This term modifies the corresponding
provisions set forth at 7.1 of the Lease, and also modifies Exhibit "B"
of the Lease. Pursuant to 7.1 of the Lease, these amounts shall also be
subject to annual increases.
4. That this Agreement is, and the provisions herein are, hereby
integrated into the Lease.
IN WITNESS THEREOF, the Parties hereto have executed this agreement the
day and year first above written.
DATED this 27th day of December, 2001.
LANDLORD
By: /s/
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Its: -------------------------
TENANT
By: /s/ Xxxx Xxxxxx
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Its: CEO
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