Amended and Restated Lease Extension and Modification Agreement
Amended and Restated Lease Extension and Modification Agreement
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Landlord’s Name / Address: |
000 X. Xxxx Xxxxxx, LLC |
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0 Xxxxxxxx Xx., Xxxxx X |
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Xxx Xxxxx, Xxxxxxxx 00000 |
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Tenant’s Name / Address: |
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000 X. Xxxx Xxxxxx, Xxxxx 000 |
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Xxx Xxxxx, Xxxxxxxx 00000 |
WHEREAS, the parties entered into a Lease Agreement for office space located in the City of Xxx Arbor, County of Washtenaw, State of Michigan, and commonly known as 000 X. Xxxx Xxxxxx, Xxxxx 000 (“Leased Premises”), dated December 31, 2017 (“Lease”); and
WHEREAS, the parties entered into a Lease Extension and Modification Agreement dated October 22, 2018 (“Extension and Modification Agreement”) to extend the term of the Lease, specify the rent due during the extension period and provide a renewal option;
WHEREAS, the parties desire to amend and restate the Extension and Modification Agreement to modify certain terms of the Extension and Modification Agreement as set forth herein.
NOW, THEREFORE, in consideration of the terms and conditions of this Amended and Restated Lease Extension and Modification Agreement, the parties agree as follows:
1. Term. The term of the Lease Agreement shall be extended for three (3) months from December 31, 2018 through the Lease Expiration Date of March 31, 2019.
2. Rent. Tenant shall pay Landlord Base Rent of $ 11,720 for each month of the three (3) month term extension with payments due in advance on the first day of each month.
3. Option to Renew. Tenant shall, provided the Lease is in full force and effect and Tenant is not in default under any of the terms and conditions of the Lease at the time of notification or commencement, have the option to extend the Lease on a month-to-month basis at the Base Rent of $11,720 for each month, on the same terms and conditions set forth in the Lease. If Tenant elects to exercise said option, then Tenant shall provide Landlord with written notice not less than thirty (30) days prior to the expiration of the term of the Lease, as extended, or Tenant shall have no further or additional right to extend or renew the term of the Lease.
4. Except as expressly modified herein, all other terms and conditions of the Lease shall remain in full force and effect.
The parties hereby execute this Amended and Restated Lease Extension and Modification Agreement as of this 1st day of February, 2019.
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000 X. Xxxx Xxxxxx, LLC |
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a Michigan limited liability company |
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a Delaware corporation | ||
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By: |
/s/ Xxxx Xxxxxxxx |
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/s/ Xxxxx X. Xxxxx | |
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Xxxx Xxxxxxxx |
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Xxxxx X. Xxxxx |
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Its: |
Manager |
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Its: |
President and CEO |
