1
Exhibit 10.63
AMENDMENT TO LEASE
The Lease by and between Equity Property Associates I (Landlord) and HADCO
Corporation (Tenant) dated March 1, 1992, as amended May 1, 1995 and April 1,
1996 for the Lease area in 00 Xxxxx Xxxxxxx, Xxxxx, XX is hereby amended as
follows:
Amendment No. 1 -- Article I, Section 1.4, Tenant's Floor Space.
Confirming that the entire 60,000 square feet is currently
leased by Tenant including the remaining 6,303 square feet of
space, described in the Amendment to Lease dated April 1,
1996.
Amendment No. 2 -- Article I, Section 1.5 Term, replace with the
following;
1.5 Term: Seven (7) years
1.5.l Scheduled Term Commencement Date: June l, 1998
Amendment No. 3 -- Article I, Section 1.6 Annual Fixed Rent, replace
with the following;
1.6 Annual Fixed Rent: $431,290.00
Included Operating Expense Share: $48,490.00
Included Tax Expense Share: $85,800.00
1.6.1 Expense Share Adjustments: The initial Annual Fixed Rent
for the Term is based, in part, on the Operating Expense Share
and Tax Expense Share. In the event that either the actual
Operating Expense Share or actual Tax Expense Share is less
than the amounts paid in any year during the term of the Lease
(e.g., if real estate taxes applicable to the property
decrease below the Tax Expense Share paid), then the
difference will be abated to Tenant for that year and the
Operating Expense Share or the Tax Expense Share, as the case
may be, will be reduced for the next year. The amount of any
reduction due Tenant shall be determined at the end of each
semi-annual or annual adjustment period, and Landlord shall
promptly thereafter either: (i) refund the excess Annual Fixed
Rent paid by Tenant for the immediately preceding adjustment
period, or (ii) credit to Tenant the excess already paid and
apply it to the next installment of Annual Fixed Rent due from
Tenant.
1.6.2 Annual Base Rent Adjustment: At the end of year five
(5), effective June 1, 2003, the Annual Base Rental (Annual
Fixed Rent less Included Operating Expense Share and Tax
Expense Share) of $297,000.00 will be adjusted by the increase
in the Consumer Price Index (CPIU), For All Urban Consumers,
Boston-
2
Lawrence-Salem, MA - NH. The denominator for the calculation
will be the Index figure for May, 1998 and the numerator will
be the Index figure for May, 2003). The fraction resulting
therefrom will be multiplied by the existing Annual Base
Rental to determine the new Annual Base Rental. In no event
will the rental amount decrease from the existing Annual Base
Rental amount.
Amendment No. 4-- Article V, Tenant's Covenants, Article 5.1 Utilities
Payment.
Delete the first word "Landlord" in the paragraph and insert
the word "Tenant"
Amendment No. 5 -- Exhibit D, Renewal Option
A new Exhibit D, Renewal Option is attached hereto and any
prior Renewal Options are hereby deleted.
This Amendment is subject to the receipt of $850,000.00 from the Landlord which
represents reimbursement for Tenant finish work done at 00X Xxxxx Xxxxxxx,
Xxxxx, XX. Receipt of which will be done in writing and attached hereto.
All other provisions of the Lease are hereby ratified and confirmed.
In Witness Whereof, the parties have executed this Amendment To Lease this 29th
day of May, 1998.
WITNESS: LANDLORD: Equity Property Associates I
/s/ Xxxxx Xxxxxxx /s/ Xxxx X. Xxxxxxxx
------------------------------ --------------------------------------
WITNESS: TENANT: HADCO Corporation
/s/ Xxxxx Xxxxxxx /s/ Xxxxxxxx Xxxxxxx
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3
Lease by and Between
Equity Property Associates I (Landlord)
And
HADCO Corporation (Tenant)
Exhibit D-Renewal Option
Reference a Lease by and between Equity Property Associates I (Landlord) and
HADCO Corporation (Tenant) dated May 1, 1995 and April 1, 1996 for the Lease
area in 00 Xxxxx Xxxxxxx, Xxxxx, XX.
At the end of the amended term ( May 31, 2005) the Tenant may elect to extend
the Lease for an additional three (3) years. The existing Annual Base Rental
(Annual Fixed Rent less the Included Operating Expense Share and Tax Expense
Share) will be adjusted by the increase in the Consumer Price Index (CPI-U), For
All Urban Consumers, Boston-Lawrence-Salem, MA-NH. The denominator for the
calculation will be the Index figure for May, 2003 and the numerator will be the
Index figure for May, 2005. The fraction resulting therefrom will be multiplied
by the existing Annual Base Rental to determine the new Annual Base Rental.
In no event will the new Annual Base Rental be less than the existing Annual
Base Rental amount.
At the end of the first option period (May 31, 2008) the Tenant may elect to
extend the Lease for an additional three (3) years. The existing Annual Base
Rental will be adjusted by the increase in the Consumer Price Index (CPI-U), For
All Urban Consumers, Boston-Lawrence-Salem, MA-NH. The denominator for the
calculation will be the Index figure for May, 2005 and the numerator will be the
Index figure for May, 2008. The fraction resulting therefrom will be multiplied
by the existing Annual Base Rental to determine the new Annual Base Rental. In
no event will the new Annual Base Rental be less than the existing Annual Base
Rental amount.
Tenant must give Landlord 60 days notice, in writing, of its intent to exercise
an option and not then be in default of any portion of the Lease.
