Exhibit 10.iii
FIRST AMENDMENT TO LEASE AGREEMENT
This First Amendment to Lease Agreement ("Lease Amendment") will become
effective upon execution by Lessor and Lessee, and is dated as of the last date
shown opposite the signatures of the parties hereto.
WHEREAS, on February 1, 1988, XXXXXXX XXXXX, M.D. ("Lessor") entered
into a Lease Agreement ("Lease Agreement") with GAMBRO HEALTHCARE RENAL CARE,
INC., formerly known as COMMUNITY DLALYSIS CENTERS, INC. ("Lessee") for the
leasing of 2,855 square feet of space, known as 000 X. Xxxxxxxxx Xxxxxx, Xxxx,
Xxxxxxx 00000 ("Premises"), for a period of five (5) years, plus one five year
option, commencing February 1, 1988, and expiring January 31, 1998; and
WHEREAS, on 4/15/98 1998, Lessor and Lessee entered into a Lease
Extension Agreement extending the term of the Lease Agreement through April 30,
1998, and
WHEREAS, the Lease Agreement, as modified by the Lease Extension
Agreement, shall collectively be referred to herein as the "Lease Agreement";
and
WHEREAS, Lessor and Lessee wish to amend the terms of the Lease
Agreement as set forth below.
NOW THEREFORE, in consideration of the mutual covenants and agreements
herein contained, the benefits to each party resulting herefrom and for other
valuable consideration, the receipt and sufficiency of which are irrevocably and
unconditionally hereby acknowledged, the parties hereto, intending to be fully
legally bound, agree as follows:
1. The Lease Agreement between the Lessor and Lessee is hereby
extended, commencing on May 1, 1998, and fully terminating on
April 30, 2003, unless sooner terminated or extended as
provided herein.
2. If Lessee is not then in default of any provisions of this
Lease Agreement, Lessee may renew this Lease Agreement for an
additional five (5) year period ("Renewal Option"), commencing
immediately upon termination of this the lease term as set
forth in Item 1 of this Lease Amendment. This Renewal Option
shall be exercised by Lessee by providing written notice to
Lessor if its intention to renew, not less than two hundred
twenty (220) days prior to the expiration of the base lease
term, as extended herein ("Base Lease Term"). The monthly rent
payable during the Renewal Option shall be determined by
agreement between the Lessee and Lessor not later than one
hundred eighty (180) days prior to the expiration of the Base
Lease Term. If the Lessee and Lessor have not been able to
agree upon a mutually acceptable rent figure for the Renewal
Option by the date which shall be one hundred eighty (180)
days
prior to the expiration of the Base Lease Term, Lessee may
withdraw its notice to renew the Lease Agreement for the
Renewal Option, and the Lease Agreement shall expire on April
30, 2003, as if the notice to exercise the Renewal Option had
never been given.
3. The Rent payable for the period May 1, 1998 through April 30,
2003 shall be One Thousand Nine Hundred Thirty and 00/100
Dollars ($1,930.00) per month, with the rent for any period of
less than a full month being prorated according to the number
of days during the partial month that the Lessee remains in
possession of the Premises.
4. Lessor agrees, at its expense, to have the following work
performed at the Premises within __________ (___) days of the
date of execution of this Lease Amendment;
a. Repaint the exterior of the Premises using the same
color scheme as is currently being used for the
Premises;
b. Upgrade the landscaping, and remove the tree xxxxx
located near the entrance to the Premises;
c. Install decorative shutters on all front windows of
the Premises; and d. Reseal all windows and doors
located on the exterior of the Premises.
5. Lessee's address for all purposes under the Lease Agreement is
hereby changed to: 0000 Xxxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxx
00000.
6. All of the terms, covenants and conditions of the Lease
Agreement not modified herein, remain in full force and
effect, and shall become a part of this Lease Amendment.
IN WITNESS WHEREOF, the Lessor and Lessee have executed this Lease
Amendment on the day and year shown opposite each party's signature.
XXXXX INVESTMENTS, LTD.
/s/ Xxxxxxx Xxxxx
Date: 4-14-98 _______________________________
Xxxxxxx Xxxxx, Chief Financial
Officer
Date: 4/30/98 GAMBRO Healthcare Renal
Care, Inc. (LESSEE)
/s/ Xxxxx X. Xxxx, Xx.
By:____________________________
Xxxxx X. Xxxx, Xx.
Title: Vice President and General
Counsel
