EXHIBIT 10.15(a)
FIRST AMENDMENT TO LEASE
I. PARTIES
THIS FIRST AMENDMENT dated July 8, 1996, is executed by and between
Presidio Associates L.P., a California limited Partnership, Successor
in the interest to CMD Southwest, Inc. ("Landlord") and Nelco
Technology, Inc., a corporation organized and existing by and pursuant
to the laws of the state of Arizona ("Tenant") for the Demised
Premises located at 0000 Xxxx Xxxxxx Xxxxx, Xxxxx, Xxxxxxx.
II. RECITALS
Landlord and Tenant, being parties to that certain Lease dated January
8, 1992, hereby express their mutual desire and intent to extend the
terms of the Lease and amend by this writing those terms, covenants
and conditions contained in Sections 201 TERM, 301 RENTAL, and in
Schedule 3 OPTION FOR ADDITIONAL LAND and Schedule 4 FIRST OPTION TO
EXTEND TERM.
Ill. AMENDMENTS
Section 201 TERM. The Term of this Lease shall hereby be extended for
an additional period of five (5) years commencing on January 8, 1997
and ending on January 7, 2002, as set forth in Schedule 4: First
Option to Extend Term (attached hereto as Exhibit "A").
Section 301 RENTAL. Rental shall mean the Annual Net Basic Rent Tenant
agrees to pay Landlord at such place as Landlord may designate without
deduction, offset, prior notice or demand, and Landlord agrees to
accept:
Annual Net Basic Rent during the first three (3) years of the
First Option Term the sum of FIFTY THOUSAND SEVEN HUNDRED
NINETY-ONE and 00/100 DOLLARS ($50,791.00); and
Annual Net Basic Rent during the last two (2) years of the First
Option Term" as set forth in Schedule 4: Rental During First
Extension of Term, of the Lease dated January 8, 1992 (attached
hereto as Exhibit "A").
All Rental shall be payable in advance on the first day of each month
during the Term of this Lease as extended, commencing on the first
(1st) day of each month.
Schedule 3 OPTION FOR ADDITIONAL LAND. Landlord and Tenant agree that
Tenant's right to purchase or lease Option Land, as set forth in
Schedule 3: Option For Additional Land (attached hereto as Exhibit
"B") has expired, and is null and void and of no further force and
effect.
Schedule 4 FIRST OPTION TO EXTEND TERM. Landlord and Tenant agree
that Tenant is hereby exercising it's First Option To Extend Term.
Tenant has delivered irrevocable written notice to Landlord at least
six (6) months prior to the expiration of the existing Lease Term in
the letter dated June 17, 1996, Certified Mail No. P 866 160 516.
IV. INCORPORATION
Except as modified herein, all other terms and conditions of the Lease
between the parties above described, as attached hereto, shall
continue in full force and effect.
IN WITNESS WHEREOF, Landlord and Tenant have executed this First Amendment
as of the day and year first above written.
LANDLORD: TENANT:
Presidio Associates, L.P., Nelco Technology, Inc.,
a California Limited Partnership,
as Manager for the Tenants in Common
/s/ Xxxxxxx X. Xxxxx
Xxxx X. Xxxxxxx, President Xxxxxxx X. Xxxxx
Phoenix/Metro Investment Corporation, Vice President
its Agent
[exh1015a]
