Exhibit 10.08(a)
FIRST AMENDMENT TO LEASE
This FIRST AMENDMENT is made on this 21st day of
October, 1994 between CEMANUDI ASSOCIATES, an Illinois
Limited Partnership ("Lessor") and NELCO TECHNOLOGY, INC.,
an Arizona corporation ("Lessee").
A. Lessor and Lessee previously entered into that certain
Lease dated August 31, 1989 for the lease of the premises
commonly known as II 00 Xxxx Xxxxxx Xxxxx, Xxxxx, Xxxxxxx
("Lease").
X. Xxxxxx and Lessee now desire to extend the
term of the Lease, subject to the terms and conditions set
forth in this First Amendment.
Lessor and Lessee agree as follows:
1. Definitions. All of the terms used in this First
Amendment shall have the same meanings set forth therefor
in the Lease, except to the extent expressly set forth
otherwise herein.
2. First Extension Term. The term of the Lease is
hereby extended for the period ("First Extension Term")
commencing on and including September 1, 1994 and ending at
11:59 P.M. (local time at the Demised Premises) on August
31, 1999.
3. First Extension Term Annual Net Basic Rent. Lessee
agrees to pay to Lessor Annual Net Basic Rent during the
First Extension Term as follows:
(a) During the period commencing on and includ
ing September 1, 1994 and ending August 31, 1997, Lessee
shall pay to Lessor as Annual Net Basic Rent the greater of
(i) Sixty-Nine Thousand Seven Hundred Fifty-Eight and 40/1
00 Dollars ($69,758.40), or (ii) an amount equal to the
product of Sixty-Three Thousand Eight Hundred Seventeen and
20/100 Dollars ($63,817.20) multiplied by a fraction which
has as its denominator the United States All Item Consumer
Price Index (I 982-1984 = I 00), All Urban Consumer
Section, issued by the Bureau of Labor Statistics, U.S.
Department of Labor ("CPI-U") published for August, 1989
and as its numerator the CPI-U published for August, 1994
("Initial Rent").
(b) During the period commencing on and includ
ing September 1, 1997 and ending August 31, 1999, Lessee
shall pay to Lessor as Annual Net Basic Rent the greater of
(i) the Initial Rent, or (ii) an amount calculated by the
following formula:
(A)x (.50) x {(B/C - 1.00} + A = Annual Basic
Rent during the last two (2) years of extended term of
lease.
where A = Initial Rent
where B = The CPI-U published for August 1997,
the period immediately prior to the commencment date of the
last two year period of the extended term.
where C = The CPI-U published for August 1994,
the period immediately prior to the commencment date of the
five year extended term.
Such Annual Net Basic Rent shall be paid to Lessor in equal
monthly installments on or before the first day of the
First Extension Term and on or before the first day of each
successive calendar month throughout the First Extension
Term.
4. Full Force and Effect. Except to the extent
expressly provided otherwise in this First Amendment, all
of the terms and conditions set forth in the Lease shall
remain in full force and effect.
5. Conflicts. In the event that any of the provisions
of the Lease conflict with any of the terms and provisions
of this First Amendment, the terms and provisions of this
First Amendment shall prevail.
6. Time of Essence. Time is of the essence of each
and every term of this First Amendment.
IN WITNESS WHEREOF, said Lessor and Lessee have
caused this instrument to be executed by their respective
duly authorized officers, all as of the day and year first
written above.
LESSOR
CEMANUDI ASSOCIATES, an Illinois
Limited Partnership
By CMD CORPORATION
By:___________________
Its: Vice President
LESSEE
NELCO TECHNOLOGY, INC., an Arizona
corporation
By:___________________
Its: Vice President and General
Manager
[Exhibis-02-10.08a]bd
