LEASE AMENDMENT
DATED: September 8, 1999
BETWEEN: PACIFIC REALTY ASSOCIATES, L.P., LANDLORD
a Delaware limited partnership
AND: AGRITOPE, INC.,
an Oregon corporation TENANT
Pacific Realty Associates, L.P., a Delaware limited partnership,
as Landlord, and American Show Management, Inc. ("Original Tenant"), entered
into a written lease dated October 4, 1995, consisting of approximately 11,059
square feet of office and warehouse space located in Building C, PacTrust
Business Center, 00000 X.X. Xxxxx Xxxxxx Xxxxx Xxxx, Xxxxxxxx, Xxxxxx 00000
(hereinafter referred to as "the Premises"). By Lease Amendment dated June 3,
1996, the Lease was amended. By Assignment and Modification of Lease, dated
November 7, 1997, Original Tenant assigned the Lease to Agritope, Inc.. Such
documents are hereinafter jointly referred to as "the Lease." The Lease expires
February 28, 2003.
Tenant now wishes to lease an additional approximately 6,801
square feet of office and warehouse space adjacent to and immediately north of
the Premises (hereinafter referred to as the "First Additional Space") and as
further described on the attached Exhibits X, X-0, X-0, X-0 and C.
NOW, THEREFORE, the parties agree as follows:
1. The First Additional Space shall become subject to the terms of
the Lease upon occupancy by Tenant, which is estimated to be October 1, 1999.
Tenant's total leased area shall increase from approximately 11,059 to 17,860
total square feet of office and warehouse space.
2. Base rent shall be according to the following schedule:
First Base Rent
Period Premises Additional Per Month
Space
October 1, 1999 through May 31, 2001 $10,285.00 $6,325.00 $16,610.00
June 1, 2001 through February 28, 2003 $11,210.00 $6,894.00 $18,104.00
3. Landlord shall construct improvements generally as shown on
attached Exhibit B and as further described in a work letter attached as Exhibit
C. Upon execution of this Lease Amendment, the attached floor plan (Exhibit B)
and work letter (Exhibit C) shall be deemed approved by Landlord and Tenant.
4. Upon completion of Tenant Improvements, Tenant shall reimburse
Landlord $29,413.00 for its share of construction costs. The total cost of the
work is $63,418.00.
5. Should the cost of such tenant improvements, adjusted by any
increases in cost initiated by Landlord and Tenant approved change orders,
exceed the Allowance, Tenant shall pay Landlord the amount by which this cost
exceeds the Allowance upon occupancy of the First Additional Space.
6. If not then in default, Tenant and only Tenant, shall have the
first option to renew this Lease for an additional sixty (60) months immediately
following expiration of the extended lease term by giving Landlord 180 days'
advance written notice of its intent to extend. All provisions of this Lease
shall apply during the extended term, except that rent for the renewal period
shall be an amount determined on a fair market value basis and agreed upon by
parties at least 90 days prior to commencement of the renewal period, but in no
case less than that of the preceding term. In no event shall Landlord grant any
third party the option to extend the term of this Lease.
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7. Except as expressly modified hereby, all terms of the Lease shall
remain in full force and effect and shall continue through the extended term.
IN WITNESS WHEREOF, the parties have executed this agreement as of the day and
year first written above.
LANDLORD:
PACIFIC REALTY ASSOCIATES, L.P.,
a Delaware limited partnership
By: PacTrust Realty, Inc.,
a Delaware corporation,
its General Partner
Date: September 9, 1999 By: /s/ Xxx X. Xxxxxx
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Xxx X. Xxxxxx
Vice President
TENANT:
AGRITOPE, INC.,
an Oregon corporation
Date: September 8, 1999 By: /s/ Xxxxxxx X. Xxxxxx
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Name: Xxxxxxx X. Xxxxxx
Title: Executive Vice President, CFO
Address for Legal Notices/Invoices to Assignee:
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(Note: Unless a different address is indicated
above, notices to Assignee will be addressed to
the Premises.)
Assignee Employer Identification Number:
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