Exhibit 10.72
1ST ADDENDUM TO SUBLEASE
THIS 1st Addendum to SUBLEASE (this "1st Addendum") is dated for
reference purposes as of May 30, 2003, and is made by and between Family Life
World Outreach a California non-profit corporation ("Sublessee"); and MTI
Technology, a Delaware corporation ("Sublessor").
R E C I T A L S:
This 1st Addendum is made with reference to the following facts:
A. MTI Technology, Inc. a Delaware corporation called the
("Sublessor"), and Family Life World Outreach a California
non-profit corporation called the ("Sublessee");, entered into
that certain Sub-Lease Agreement, dated as of March 30, 2003
(the "SubLease") with respect to a portion of that certain one
story office building located at 000 Xxxxxxx Xxxxx, Xxxxxxxxx
California..
B. Pursuant to the 1st Addendum, the Premises leased thereunder
encompasses an additional 1000 square feet (a portion of the
entire facility at 000 Xxxxxxx Xxxxxx, Xxxxxxxxx, which
consists of approximately 22,000 + or - square feet per
attached spaceplan exhibit "A".
C. Sublessee wishes to sublease additional Premises. Sublessor
wishes to sublease the additional Premises to Sublessee on the terms and
conditions contained herein.
Accordingly, in consideration of the mutual promises contained herein
and for other good and valuable consideration, receipt of which is hereby
acknowledged, the parties hereto agree as follows:
1. Term:
1.1 Term: The term (the "Term") of this Sublease shall be
for a period commencing on June 1, 2003, and Sublessor has delivered possession
of the Premises to Sublessee (the "Commencement Date"). The Term shall end,
without notice, on June 15, 2006 (the "Expiration Date"), unless this Sublease
is sooner terminated pursuant to its terms or unless the Master Lease is sooner
terminated pursuant to its terms.
1.2 No Option to Extend: Sublessee hereby acknowledges
that: (i) the expiration date of the Master Lease is June 15, 2006, (ii)
Sublessor has no option whatsoever to extend the Term of the Master Lease, and
(iii) Sublessee must vacate the Premises fully and completely on or before June
15, 2006.
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2. Rent:
2.1 Base Rent: Sublessee shall pay to Sublessor the rent
("Base Rent") for the current and additional Premises in the following amounts:
Months Amount
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1-12 ($6,600.00)
13-24 ($7,100.00)
25-36 ($7,200.00)
3. Deposit: Sublessee shall pay Sublessor an additional security
deposit in the amount of $600.00 upon execution of this 1st Addendum agreement.
4. As-Is:
4.1 No Warranties: Sublessor has made no representations
or warranties of any kind, whether express or implied, as to the condition of
the Premises, the Building, the Complex or any other property, or the
suitability of the Premises for Sublessee's activities. Sublessee acknowledges
that prior to signing this Sublease, it has had the opportunity to inspect and
research the Building and the Premises, and to contact the Master Lessor in
order to independently satisfy itself as to the condition of same, including
without limitation, the presence or absence of Hazardous Materials. Sublessee
enters and agrees to use the Premises at its own risk, "as is", and subject to
any defects (whether patent or latent, known or unknown). Sublessee waives and
disclaims all warranties with respect to the Premises and the Building and the
Complex, whether express or implied, and assumes the risk that its inspections
and inquiry of the Master Lessor did not reveal adverse or unexpected conditions
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5.1 All other terms and conditions set forth in the
Sublease dated March 30, 2003 shall remain in force and unchanged with
the exception thereof outlined in this 1st Addendum.
IN WITNESS WHEREOF, the parties have executed this 1st Addendum as of
the day and year first above written.
SUBLESSEE: Family Life World Outreach., a California corporation
By:
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Its:
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SUBLESSOR: MTI Technology, a Delaware corporation
By:
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Its:
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