EXHIBIT 10.14
LEASE AMENDMENT
This agreement is made the 13th day of March 1996, between Xxxxxxx Xxxx
Investors, a Minnesota Partnership (hereinafter called LANDLORD) and CFA
Technologies, dba Digital Biometrics, Inc. (hereinafter called TENANT).
Whereas, by lease dated November 7, 1989 and as further amended December 29,
1989, May 1, 1991, May 19, 1993, October 8, 1993 and August 4, 1994, landlord
leased to Tenant the real property together with the building and improvements
then erected thereon, located at Xxxxxxx Xxxx Center, 5600 and 0000 Xxxxxxx
Xxxx, in the City of Minnetonka, the State of Minnesota, all as more
particularly described in said Lease and Amendments.
Therefore, in consideration of the mutual covenants herein contained, and other
good and valuable consideration, it is covenanted and agreed between the parties
that the aforesaid Lease and Amendments be modified and amended as follows:
Leased Space and Building
The space is identified as Suites 205, 230, 225/220 and 000, Xxxxxxx Xxxx
Xxxxxx. Comprised of 33,382 sq. ft. of which 25,282 sq. ft. is office space and
8,100 sq. ft. is warehouse/service area.
Lease Term
The lease term shall be five (5) years commencing on May 1, 1996.
Rates
Months 1 through 36 $19,757.00 Monthly Base Rent
Months 37 through 60 $21,999.00 Monthly Base Rent
Additional Rent
The net rentable area of Xxxxxxx Xxxx Center is 119,079 sq. ft. Tenant's
proportionate share for purposes of allocating real estate taxes, assessments
and operating expenses shall be increased to 28.03%.
Leased Space
The space will be taken as built.
Expansion Option
The Tenant is given the first right to lease Suite 240 as it becomes available
commencing May 1, 1996. This space consists of 3,300 sq. ft. Tenant shall lease
the space as built at the current market rates for Xxxxxxx Xxxx Center at that
time. Tenant is given ten (30) days to accept or reject the space upon
notification from Landlord of its availability.
Tenant Improvements Allowance/Improvements
Landlord will pay for rooftop air conditioning and hearing units for Suite 230
in the amount of $13,300.00 upon full execution of this Lease Amendment.
Landlord will, at its sole
March 13, 1996
Page 2
expense, replace carpet as indicated on attached Exhibit "A", upon Tenant
schedule with 30 day prior notice to Landlord. Tenant will be responsible to
move all of its personal property to facilitate this carpeting.
Cancellation Option
Tenant may cancel the Lease for Suite 165, comprised of 2,433 sq. ft. of which
2082 sq. ft. is office space and 341 sq. ft. is warehouse/service area, any time
after May 1, 1996 by giving Landlord 60 days prior written notice of Tenant's
intent to cancel the lease for this portion of their leased space. Upon
cancellation Tenant's base rent and additional rent shall be reduced
proportional to the rent being paid at that time.
Option to Renew
Provided Tenant is not in default under the terms and conditions of this Lease,
the tenant shall have the first option to renew this lease for one five year
period under the same terms and conditions of the original lease except the base
rent shall be at the then fair market rent for Xxxxxxx Xxxx Center at that time
(Rates will be based on the average per square foot rates of the four most
current leases signed at Xxxxxxx Xxxx). Tenant shall give 180 day prior written
notice of its intent to exercise this option.
Landlord's Option
The Landlord shall have the option to delay occupancy by Tenant of Suite 220/225
for a period of four months, changing the lease commencement date for 220/225
from May 1, 1996 to September 1, 1996. Tenant's monthly base rent shall be
reduced by $4,464 per month from the quoted rates in this lease amendment for
the months of May through August 1996. Tenant's proportional additional rent
shall change from 28.03% to 21.63% for this period. Landlord shall grant Tenant
a credit towards base rent of $2,000 for the month of May 1996.
March 13, 1996
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This Amendment shall supersede any contrary or conflicting information contained
in the original Lease between Landlord and Tenant dated November 7, 1989. All
other terms and conditions of the original Lease shall remain in full force and
effect.
XXXXXXX XXXX INVESTORS CFA TECHNOLOGIES, INC.
dba: DIGITAL BIOMETRICS, INC.
By By
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Its Its
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Date Date
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