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Exhibit 10.7.2
COMMENCEMENT LETTER AND FIRST AMENDMENT
TO STANDARD INDUSTRIAL LEASE
THIS COMMENCEMENT LETTER AND FIRST AMENDMENT TO STANDARD INDUSTRIAL LEASE
(collectively the "Amendment to Lease") is made and entered into this January 1,
1993 and is hereby made a part of that certain Standard Industrial Lease (the
"Printed Lease Form") dated as of September 16, 1992 and made and entered into
by and between XXXXXXXX X. XXXXXX, XXXXX X. XXXXXX, XXXXXX XXX XXXXXX, XXXXX
XXXXX XXXXXX (XXXXXX), AND XXXXXXXX X. XXXXXX AS GUARDIAN FOR XXXXXXX XXXXXX
(collectively "LESSOR"), and PSYCHEMEDICS CORPORATION, a Delaware Corporation
("Lessee"). All terms used herein shall have the same meanings herein as are
ascribed to such terms in the Printed Lease Form. If there is any conflict
between the provisions of the Printed Lease Form or the Addendum to Standard
Industrial Lease (the "Addendum"), this Amendment to Lease shall control. This
Amendment to Lease, Printed Lease Form and Addendum are sometimes hereinafter
jointly referred to as the "Lease".
A. ACTUAL COMMENCEMENT DATE
Lessor and Lessee agree that the Actual Commencement Date of the Lease
is January 1, 1993.
B. PREMISES
(i) Lessor and Lessee agree that the actual rentable square feet in
the Premises is Eight Thousand Two (8,002) [exclusive of the mezzanine] as
determined by Xxxxx Xxxxxx, A.I.A.. The total of 8,002 square feet is
comprised of Seven Thousand Eight Hundred (7,800) square feet as reflected
in the Printed Lease Form and an additional Two Hundred Two (202) square
feet which Lessee has leased from Lessor in the Premises. The 8,002 square
feet now comprise the "Premises" of the Lessee and is shown on Exhibit "1"
to this Amendment to Lease.
(ii) Lessor and Lessee agree that the Lessee's monthly rent amount is
Eight Thousand Four Hundred Two Dollars and Ten Cents ($8,402.10) [computed
as 8,002 square feet multiplied by $1.05/square foot].
(iii) Lessor and Lessee agree that the total rentable square feet in
the Building (exclusive of the mezzanine) is Thirteen Thousand Eight
Hundred Seventy Five (13,875).
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(iv) Lessor and Lessee agree that Lessee's Share (as defined in the
Lease) is 57.672%.
(v) Lessor and Lessee agree that the total number of parking spaces
which Lessee is permitted to use is eighteen (18).
(vi) Lessor and Lessee agree the amount paid by Lessee upon execution
of the Printed Lease Form for the first month of the Lease term (Eight
Thousand One Hundred Ninety Dollars [$8,190]) and the Security Deposit
(Eight Thousand One Hundred Ninety Dollars [$8,190]) shall now be adjusted
to equal the actual rent. Therefore, upon execution of this First Amendment
to Lease, Lessee shall pay to Lessor an additional Two Hundred Twelve
Dollars and Ten Cents ($212.10) to increase the first month's rent to
$8,402.10 and an additional Two Hundred Twelve Dollars and Ten Cents
($212.10) to increase the Security Deposit to $8,402.10.
C. CHANGE IN ADDRESS OF PREMISES
The address of the Premises is 0000 Xxxxxxxx Xxxxxx, rather than 0000
Xxxxxxxx Xxxxxx.
IN WITNESS WHEREOF, the parties hereto have entered into this
Amendment to Lease as of the date first set forth above.
LESSEE;
PSYCHEMEDICS CORPORATION
A Delaware Corporation
By: /s/ Xxxxx X. Xxxxx
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Name: Xxxxx X. Xxxxx
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Title: V. P. Finance Date: March 3, 1993
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SIGNATURES CONTINUED ON NEXT PAGE
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LESSOR:
/s/ Xxxxxxxx X. Xxxxxx Date: March 3, 1993
----------------------- -------------------
XXXXXXXX X. XXXXXX
/s/ Xxxxx X. Xxxxxx
--------------------
XXXXX X. XXXXXX
/s/ Xxxxxx X. Xxxxxx
-----------------------
XXXXXX X. XXXXXX
/s/ Xxxxx Xxxxx Xxxxxx Xxxxxx
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XXXXX XXXXX XXXXXX (XXXXXX)
/s/ Xxxxxxxx X. Xxxxxx, Guardian
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XXXXXXXX X. XXXXXX AS GUARDIAN
FOR XXXXXXX XXXXXX
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