Exhibit 10.10
[LETTERHEAD OF XXXXX/XXXXXXXXX]
April 29, 1999
Xx. Xxxxxxxx XxXxxxx
Xxxxxx Xxxxxx Medical, Inc.
000 Xxxxxxx Xxxxxx
Xxxxxxxxx XX 00000
RE: AMENDMENT NO. 1 DATED APRIL 16, 1999 BETWEEN THE XXXX XXXXXXXXX SURVIVOR'S
TRUST AND THE XXXXXXX X. XXXXX SEPARATE PROPERTY TRUST, AS LANDLORD, AND
XXXXXX XXXXXX MEDICAL, INC., AS TENANT FOR LEASED PREMISES LOCATED AT 000
XXXXXXX XXXXXX, XXXXXXXXX, XXXXXXXXXX
Dear Xxxxxxxx,
The aforementioned document is enclosed for your retention.
If you have any questions regarding this document please call me at 408/980-
0130.
Sincerely,
/s/ Xxxxxx Xxxxxxx
Xxxxxx Xxxxxxx
Property Manager
Enclosure
Palomar 3
AMENDMENT NO. 1
TO LEASE
THIS AMENDMENT NO. 1 is made and entered into this 16/th/ day of April,
1999, by and between XXXX XXXXXXXXX, Trustee, or his Successor Trustee UTA dated
7/20/77 (XXXX XXXXXXXXX SURVIVOR'S TRUST) (previously known as the "Xxxx
Xxxxxxxxx Separate Property Trust") as amended, and XXXXXXX X. XXXXX, Trustee,
or his Successor Trustee UTA dated 7/20/77 (XXXXXXX X. XXXXX SEPARATE TRUST) as
amended, collectively as LANDLORD, and XXXXXX XXXXXX MEDICAL, INC., a Delaware
corporation, as TENANT.
RECITALS
A. WHEREAS, by Lease Agreement dated May 6, 1998 Landlord leased to
Tenant approximately 10,000 +/- square feet of that certain 20,000 +/- square
foot building located at 000 Xxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxxx, the details
of which are more particularly set forth in said May 6, 1998 Lease Agreement,
and
B. WHEREAS, it is now the desire of the parties hereto to amend the Lease
by (i) extending the Term for two years and four months, changing the
Termination Date from May 31, 2001 to September 30, 2003, (ii) amending the
Basic Rent schedule and Aggregate Rent accordingly and (iii) increasing the
Security Deposit required under the Lease Agreement as hereinafter set forth.
AGREEMENT
NOW THEREFORE, for valuable consideration, receipt of which is hereby
acknowledged, and in consideration of the hereinafter mutual promises, the
parties hereto do agree as follows:
1. TERM OF LEASE: It is agreed between the parties that the Term of said
-------------
Lease Agreement shall be extended for an additional two year four month period,
and the Lease Termination Date shall be changed from May 31, 2001 to September
30, 2003.
2. BASIC RENTAL FOR EXTENDED TERM OF LEASE: The monthly Basic Rental for
---------------------------------------
the Extended Term of Lease shall be as follows:
On June 1, 2001, the sum of TWENTY THREE THOUSAND AND NO/100 DOLLARS
($23,000.00) shall be due, and a like sum due on the first day of each month
thereafter through and including May 1, 2002.
On June 1, 2002, the sum of TWENTY FOUR THOUSAND AND NO/100 DOLLARS
($24,000.00) shall be due, and a like sum due on the first day of each month
thereafter through and including May 1, 2003.
On June 1, 2003 the sum of TWENTY FIVE THOUSAND AND NO/100 DOLLARS
($25,000.00) shall be due, and a like sum due on the first day of each month
thereafter, through and including September 1, 2003.
The Aggregate Basic Rent for the Lease shall be increased by $664,000.00 or
from $756,000.00 to $1,420,000.00.
3. SECURITY DEPOSIT: Tenant's Security Deposit shall be increased by
----------------
$6,000.00, or from $44,000.00 to $50,000.00, payable upon Xxxxxx's execution of
this Amendment No. 1.
Initial: /s/ X.X. /s/ A.M. /s/ X.X.
Xxxxxxx 3
EXCEPT AS MODIFIED HEREIN, all other terms, covenants, and conditions of
said May 6, 1998 Lease Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, Landlord and Xxxxxx have executed this Amendment No. 1
to Lease as of the day and year last written below.
LANDLORD: TENANT:
XXXX XXXXXXXXX SURVIVOR'S XXXXXX XXXXXX MEDICAL, INC.
TRUST a Delaware corporation
By /s/ Xxxx Xxxxxxxxx By /s/ Xxxxxxxx X. XxXxxxx
------------------------ -----------------------------
Xxxx Xxxxxxxxx, Trustee
Xxxxxxxx X. XxXxxxx
Date: 4/27/99 -------------------------------
--------------------- Print or Type Name
XXXXXXX X XXXXX SEPARATE Title: Chief Financial Officer
-------------------------
PROPERTY TRUST
By /s/ Xxxxxxx X. Xxxxx Date: 4/27/99
------------------------ ---------------------------
Xxxxxxx X Xxxxx, Trustee
Date: 4/28/99
---------------------
Initial: /s/ X.X. /s/ A.M. /s/ R.P.
--------------------------
