EXTENSION OF LEASE
This Indenture, made this 7th day of December, 1995 by and between Lutheran
Brotherhood, a Minnesota corporation (hereinafter called "Landlord") and ADC
Telecommunications, Inc., a Minnesota corporation, (hereinafter called
"Tenant").
WITNESSETH:
WHEREAS, Landlord and Tenant entered into a certain lease agreement, dated
October 26, 1990, as amended by that certain First Amendment to Lease Agreement
dated October 26, 1990, (hereinafter called the "Lease") under which Landlord
demised to Tenant the premises commonly known as 0000 Xxxxxxxxxx Xxxxx,
Xxxxxxxxxx Corporate Center (hereinafter, the "Leased Premises"); and
WHEREAS, the initial term of said Lease is scheduled to expire by lapse of time
on July 31, 1997; and
WHEREAS, Landlord and Tenant hereby wish to extend the term of said Lease; and
WHEREAS, Landlord and Tenant have agreed upon the terms and conditions
governing said extension;
NOW, THEREFORE, in consideration of the premises, the payments to be made
hereunder and the covenants and agreements herein undertaken to be kept and
performed, it is agreed as follows:
1. The term of the Lease is hereby extended for a period of four (4) years
plus one (l) additional month commencing on the last day of the initial term of
the Lease and expiring on the 31st day of August, 2001, (hereinafter, the
Extension Period") unless the Lease shall sooner terminate as provided therein.
2. For years one (l) and two (2) of the Extension Period, Tenant shall pay to
Landlord as Base Rent, for the Leased Premises, the annual sum of Two Hundred
Thirty-Four Thousand Four Hundred Ninety-Eight and No/100 Dollars ($234,498.00)
payable monthly on the 1st day of each and every calendar month in installments
of Nineteen Thousand Five Hundred Forty-One and 50/100 ($19,541.50) and for
years three (3) and four (4) plus the last additional month of the Extension
Period, Tenant shall pay to Landlord, as Base Rent, for the Leased Premises,
the annual sum of Two Hundred Fifty-Eight Thousand One Hundred Twenty and
No/100 Dollars ($258,120.00) payable monthly on the first day of each and every
calendar month in installments of Twenty-One Thousand Five Hundred Ten and
No/100 ($21,510.00). All Base Rent payable is over and above the other and
additional payments to be paid by Tenant to Landlord for the Leased Premises
and shall be paid at the place and in the manner as provided for within the
Lease.
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3. It is understood and agreed that Tenant will continue to be responsible
for 100% of the Leased Premises annual real estate tax and insurance expense as
defined in the Lease and that Tenant will have no further options to extend the
Lease. 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:
Lutheran Brotherhood
a Minnesota corporation
/s/ Xxxxxxxx X. Xxxxxx
------------------------------------
By: Xxxxxxxx X. Xxxxxx
Its: AVP
TENANT:
ADC Telecommunications, Inc.
/s/ Xxxxxx X. Xxxxx
------------------------------------
By: Xxxxxx X. Xxxxx
Its: VP and CFO
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