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EXHIBIT 10.4
PROPOSAL TO AMEND LEASE
BUILDING 2
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LANDLORD: Washington Capital Management, Inc.
TENANT: SeaMED Corporation
PREMISES: Approximately 81,000 rentable square feet in Building
B which is projected to total 81,000 square feet as
outlined on Exhibit A (site plan). Premises are
measured to the edge of the roofline.
LEASE TERM: Ten (10) years commencing January 1, 1999. Please see
attached schedule.
BASE RENT: Leased $/SF/ Total
Months Sq. Feet Month $/Month
------ -------- ----- -------
01-06 40,500 $1.070 psf, $ 43,335
NNN
07-12 60,750 $1.070 psf, 65,002
NNN
13-36 81,000 $1.070 psf, 86,670
NNN
37-72 81,000 $1.161 psf, 94,080
NNN
73-108 81,000 $1.261 psf, 102,156
NNN
109-120 81,000 $1.37 psf, 110,960
NNN
EXPENSES: In addition to the Base Rent, Tenant shall pay all
operating expenses associated with the Premises
including, but not limited to, utilities, real estate
taxes, building insurance, janitorial, and common area
maintenance for the leased square footage as described
above.
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BUILDING SHELL: Landlord, at its sole cost and expense, shall
construct the building core and shell ("Core and
Shell") which shall include base electrical to panel,
two (2) hydraulic elevators (one of them being an Xxxx
4500# capacity approximately, 5'8" wide by 7'11" long
by 9'7" tall, or equivalent and the other being a
normal passenger elevator), stairwells designed to
meet fire codes, restroom plumbing infrastructure
stubbed in, loading doors with dock levelers at each
dock high door, sprinkler system installed with
monitoring devices, roof insulation, HVAC screening,
landscaping, and parking lot improvements.
TENANT IMPROVEMENT
ALLOWANCE: Exhibit B--Landlord's Work is modified as follows:
F) Landlord shall provide a tenant improvement
allowance of $2,340,000 (inclusive of sales
tax, permit fees, and space planning fees) for
improvements to the Premises above the Core
and Shell (the "Tenant Improvements"). At
Tenant's option, Landlord shall provide an
additional allowance of up to $160,000 (the
"Additional Allowance"). The Additional
Allowance shall be amortized over the Lease
Term as set forth in paragraph H below.
PARAGRAPH G, Substitute $2,340,000 for $750,000.
PARAGRAPH I, Substitute $2,500,000 for $840,000.
ARCHITECT: The architect for both Core and Shell and Tenant
Improvements shall be Xxxxx Xxxxxxx & Associates.
CONTRACTOR: The general contractor for both Core and Shell and
Tenant Improvements shall be Xxxxxxx and Associates.
MISCELLANEOUS: 1) Delete Article 17 and Article 18.
2) Modify Schedule 1, Outline Specification, to
include building dimensions and attached site
plan approved by both parties.
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This proposal, once accepted, shall serve as the outline for an amendment to the
existing Building 2 lease. This proposal is subject to approval by XxxXXX's
Board of Directors. The next scheduled board meeting is July 31, 1997.
ACKNOWLEDGED AND AGREED: ACKNOWLEDGED AND AGREED:
SeaMED Corporation Washington Capital Management, Inc.
By: /s/ XXX XXXX By: /s/ XXXXXXX X. XXXXXX
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Its: Sr. V.P. Operations Its: VP
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Date: 7/17/97 Date: 7/18/97
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