EXHIBIT 10.3
AGREEMENT TO EXTEND LEASE
This Agreement, made this 12th day of June, 1995, by and between 7100
BUILDING COMPANY LIMITED PARTNERSHIP, a Limited Partnership) hereinafter called
"Landlord") and MICROFLAME, INC., a Minnesota Corporation (hereinafter called
"Tenant").
WITNESSETH:
WHEREAS, Minnetonka Business Associates, a General Partnership and
Tenant entered into a certain Lease Agreement, dated June 1, 1990, and amended
May 25, 1994 (hereinafter called the "Lease") under which Tenant leased the
Leased Premises commonly known as 00000 XxXxxx Xxxxx, Xxxxxxxxxx, Xxxxxxxxx; and
WHEREAS, the landlord's interest in the Lease was assigned to Landlord
by an Assignment & Assumption of Leases dated May 23, 1995; and
WHEREAS, said Lease is scheduled to expire by lapse of time on July 31,
1995; and
WHEREAS, Landlord and Tenant desire to amend said Lease so as to extend
the term thereof and to amend the rents payable thereunder during such period;
and
WHEREAS, it is intended by this Agreement to amend said Lease.
NOW, THEREFORE, in consideration of the premises, and of the covenants
and agreements herein undertaken to be kept and performed, it is agreed as
follows:
1. TERM. The Term of the Lease is hereby extended for a period of two
(2) years commencing on the 1st day of August, 1995, and expiring on the 31st
day of July, 1997, unless the Lease shall sooner terminate as provided therein.
2. BASE RENT. Tenant shall pay Landlord the base rent of $2,611.00 per
month from the 1st day of August, 1995 through and including the 31st day of
July, 1997, over and above the other and additional payments to be made by
Tenant for the Leased Premises, payable in advance on the first day of each and
every calendar month.
3. Except as herein specifically amended, all other terms, covenants,
and conditions of the Lease shall remain in full force and effect, and the same
are hereby ratified and confirmed.
IN WITNESS WHEREOF, Landlord and Tenant have executed the within
Agreement as of the day and year first above written.
LANDLORD: TENANT:
7100 BUILDING COMPANY MICROFLAME, INC.
LIMITED PARTNERSHIP A Minnesota Corporation
BY: 7100 BUILDING CORPORATION
Its General Partner
By: By:
Its: President Its: Gen. Mgr.
Date: 6/25/95 Date: 6/12/95
