EXHIBIT 10.5(v)
FIRST AMENDMENT TO LEASE
This First Amendment to Lease ("First Amendment") is dated for reference
purposes only August 31, 2006, and is made by and between 00000 XXXX XXXXX
XXXXX, XXX, a Colorado limited liability company ("Landlord") and ORALABS, INC.,
a Colorado corporation ("Tenant").
WHEREAS, Landlord and Tenant entered into a Lease dated September 4, 2003,
concerning space commonly known as 00000 X. Xxxxx Xxxxx (formerly known as 00000
X. Xxxxx Xxxxx), Xxxxxx, Xxxxxxxx (the "Premises"); and
WHEREAS, the parties wish to amend the Lease in certain respects.
NOW, THEREFORE, in consideration of the foregoing and for other good and
valuable consideration, the adequacy and sufficiency of which is acknowledged by
the parties, the parties agree as follows:
1. Except as modified by the provisions of this First Amendment, all
provisions of the Lease remain in full force and effect. In the event of a
conflict between any provision of this First Amendment and any provision of the
Lease, the provision of this First Amendment shall control. Capitalized words
used herein shall have the same meanings as set forth in the Lease, except as
otherwise defined herein.
2. The Expiration Date of the Lease is hereby extended to September 30,
2009. Tenant has no rights or options to extend the Term of the Lease beyond
September 30, 2009.
3. During the period from October 1, 2006 through September 30, 2009 (the
"Extension Period"), Base Rent will be paid at such annual rate and in such
amount of monthly installment as shown in the following table, based upon the
89,217 rentable square feet in the Premises:
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Period of Time Annual Rate per Rentable Square Amount of Monthly Installment
Foot
-------------------------------------------------- ---------------------------------- --------------------------------
October 1, 2006 - September 30, 2007 $5.00 $37,173.75
-------------------------------------------------- ---------------------------------- --------------------------------
October 1, 2007 - September 30, 2008 $5.15 $38,288.96
-------------------------------------------------- ---------------------------------- --------------------------------
October 1, 2008 - September 30, 2009 $5.25 $39,032.44
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4. Section 20.25 of the Lease is deleted.
5. Tenant acknowledges and agrees that Landlord is not in default of any of
its obligations under the Lease and that Landlord will not be in default merely
by the passage of time or the giving of notice, or both.
6. Landlord and Tenant represent and warrant to the other that it has not
dealt with any broker in connection with this First Amendment and agrees to
indemnify and hold the other party and its agents, officers, directors,
shareholders, partners, members and employees harmless from and against all
losses, damages, liabilities, claims, liens, costs and expenses, including
without limitation, attorneys fees, arising from the breach by the indemnifying
party of its representation and warranty made in the first sentence of this
paragraph.
7. Each party represents that the individual signing on its behalf is
authorized to do so. This First Amendment contains the entire agreement between
the parties and shall not be modified or amended in any manner except by an
instrument in writing executed by the parties. Nothing in the First Amendment
will be binding upon either party unless and until both parties execute this
instrument. This First Amendment may be signed in counterparts, each such
counterpart being deemed to be an original instrument, and all of such
counterparts shall together constitute one and the same instrument. Facsimile
signatures will be accepted as originals.
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LANDLORD: TENANT:
00000 XXXX XXXXX XXXXX, XXX, a ORALABS, INC., a Colorado corporation
Colorado limited liability company
By: /s/ Xxxx X. Xxxxxxxxx By:/s/ Xxxxx Xxxxxx
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Xxxx X. Xxxxxxxxx, sole member
Date: Xxxxxx 00, 0000 Xxxxx Xxxxxx
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Printed Name
Chief Financial Officer
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Printed Title
August 31, 2006
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Date
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