EXHIBIT 10.27
FIRST AMENDMENT TO LEASE
This First Amendment To Lease (the "First Amendment") is made and
entered into as of May 10, 2000, by and between Xxxxxxx Properties, L.P., a
California limited partnership ("Landlord") and Hollywood Software, Inc., a
California corporation ("Tenant").
RECITALS
A. WHEREAS, Landlord and Tenant entered into that certain office
lease (the "Original Lease") dated as of March 31, 1999,
covering certain Premises located at 0000 Xxxxxx Xxxxxx, Xxxxx
000, Xxxx, Xxxxxxxxxx 00000 and commonly known as Brea Park
Centre, (the "Building").
B. WHEREAS, Landlord and Tenant desire to modify the Lease, among
other modifications, that upon the First Amendment Commencement
Date (defined below), Tenant shall expand its Premises by 1,402
rentable square feet, known as Suite 300, on the third (3rd)
Floor of the Building (the "Expansion Premises").
C. NOW THEREFORE, in consideration of the Premises and for other
consideration, the receipt and adequacy of which are hereby
acknowledged, Landlord and Tenant hereby agree as follows:
1. Definitions: Unless otherwise defined herein, all capitalized words
shall have the meanings set forth in the Lease.
2. Premises: Notwithstanding any provision of the Lease to the contrary,
the Premises shall continue to be Suite 104 and shall be expanded to
include Suite 300 (the "Expansion Premises") comprising a total of
approximately 2,281 rentable square feet. As further depicted on
Exhibit B attached hereto (herein referred to as the "First Amendment
Premises").
3. First Amendment Commencement Date: The First Amendment Commencement
Date shall be the earlier of the date on which the improvements to be
constructed or performed by Landlord in the Expansion Premises shall
have been substantially completed in accordance with the plans and
specifications, described on Exhibit C, attached hereto, or July 1,
2000. If for any reason Landlord cannot deliver possession of any
portion of the Expansion Premises to Tenant on the First Amendment
Scheduled Commencement Date, Landlord shall not be subject to any
liability therefor, nor shall Landlord be in default hereunder nor
shall such failure affect the validity of this First Amendment, and
Tenant agrees to accept possession of the First Amendment Premises at
such time as such improvements have been substantially completed, which
date shall then be deemed the First Amendment Commencement Date. In the
event of any dispute as to substantial completion of work performed or
required to be performed by Landlord, the certificate of Landlord's
general contractor shall be conclusive. Substantial completion shall
have occurred notwithstanding Tenant's submission of a punchlist to
Landlord, which Tenant shall submit, if at all, within three (3)
business days after the First Amendment Commencement Date or otherwise
in accordance with any improvement agreement appended to this First
Amendment. Upon Landlord's request, Tenant shall promptly execute and
return to Landlord a "Start-Up Letter" in which Tenant shall agree,
among other things, to acceptance of the Original Premises and
Expansion Premises and to the determination of the First Amendment
Commencement Date, in accordance with the terms of the Lease, but
Tenant's failure or refusal to do so shall not negate Tenant's
acceptance of the First Amendment Premises or affect determination of
the First Amendment Commencement Date. From and after the First
Amendment Commencement Date, Tenant shall observe and perform all
obligations of the Tenant pursuant to the First Amendment and the Lease
with respect to the First Amendment Premises.
4. First Amendment Premises Scheduled Expiration Date: April 30, 2001
5. Prior Right of Occupancy: Upon full execution of the First Amendment,
Tenant shall have the right to occupy the Premises upon substantial
completion of the tenant improvements prior to July 1, 2000, Lease
Commencement Date, with all terms and conditions of this Lease in full
force and effect, including the payment of rent and shall be prorated
based on a month of 30 days.
6. Basic Monthly Rental: Notwithstanding Paragraph 6 of the Lease
Agreement, the basic monthly rental shall be as follows:
Suite 104:
July 1, 2000-- April 30, 2001: $1,327.00 per month plus monthly
operating expense.
Suite 300:
July 1, 2000 April 30, 2001: $2,282.00 per month plus monthly
operating expense.
Tenant's Percentage Share from and after the First Amendment
Commencement Date:
Tenant's percentage share of Building shall be 4.7072%
Tenant's percentage share of Project shall be 4.7072%
7. Base Year for Operating Expenses and Taxes from and after the First
Amendment Commencement Date:
The Base Year for Suites 104 and 300 shall be 1999 Calendar year.
8. Tenant Improvements: Tenant agrees to accept the Premises in "as-is"
condition, except Landlord shall construct and Tenant shall pay 1/2 the
costs for the following one time interior improvements in the Expansion
Premises (Suite 300) as follows:
o Landlord shall remove approximately 18 lineal feet of ceiling
height walls and (1) door jamb and door as shown in red on the
attached floor plan; Exhibit "C".
o Landlord shall patch carpet and baseboard to match existing
carpet and baseboard where walls will be removed. Landlord
shall use best efforts to match existing carpet color in
Premises.
o Landlord shall touch up paint in areas where walls will be
removed. Landlord shall use best efforts to match the paint
color to the existing paint color in Premises.
Upon the execution of the First Amendment, Tenant shall pay $900.00 to
Landlord for 1/2 the cost of the above referenced improvements.
9. Occupancy Density: Suite 104: A total of four (4) persons.
Suite 300: A total of six (6) persons.
10. Parking Density: Suite 104: A total of four (4) unreserved
parking spaces.
Suite 300: A total of six (6) unreserved
parking spaces.
10. Security Deposit: Suite 300: $2,282.00 due upon execution of
First Amendment
EXCEPT AS EXPRESSLY MODIFIED ABOVE, all terms and conditions of the Lease
Agreement shall remain in full force and effect and hereby ratified and
confirmed.
LANDLORD: TENANT:
Xxxxxxx Xxxx, L.P., Hollywood Software, Inc.,
a Delaware limited partnership a California corporation.
By: Xxxxxxx Properties, Inc.,
a Maryland corporation,
its general partner
By: /s/ Xxxx Xxxxxxxxx By: /s/ Xxxxxx Xxxxxxxxx
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Xxxx Xxxxxxxxx Xxxxxx Xxxxxxxxx
Its: Vice President Its: President
Date: 5/26/00 Date: 5-23-00
