FIRST AMENDMENT TO LEASE
FIRST
AMENDMENT TO LEASE
This
FIRST
AMENDMENT TO LEASE (this
"First Amendment") is made and entered into as of this 4th day of May, 2007,
by
and between 000 X. XXXXXXX XXXXXX, LLC (hereinafter, the "Landlord") and BASI
MARYLAND, INC. (hereinafter, the "Tenant").
RECITAL
A. Landlord
and Tenant entered into a Lease Agreement fully executed on the 7th
day of
December 2004, which is scheduled to terminate on January 4, 2008 (the
"Lease").
B. The
parties wish to reduce the size of the Premises by returning the seventh
(7th
floor to
Landlord, and by providing permission to Landlord to relet floors 4, 5 and
6 of
the Premises.
NOW,
THEREFORE,
in
consideration of the mutual covenants contained herein and intending to be
legally bound, the parties hereto covenant and agree as follows:
1. Effective
on the day after the lease between Landlord and Bioanalytical Systems Inc.
for
space in 000-000 Xxxx Xxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxx 00000, is fully
executed (the "Effective Date"), the seventh (7th
floor),
consisting of an agreed upon amount of seven thousand two hundred thirty-one
(7,231) rentable square feet shall be removed from the Premises. The seventh
(7th)
floor
shall be returned to Landlord in the condition described in Section 6 of the
Lease. As of the Effective Date, the total monthly rental shall be reduced
by
Four Thousand Eight Hundred Twenty Dollars and Sixty-seven Cents ($4,820.67)
to
the new total monthly rental of Sixty-two Thousand Five Hundred Twelve Dollars
and Sixty-six Cents ($62,512.66) and Tenant's Proportionate Share shall be
adjusted in accordance with the Lease.
2. In
order
to accommodate Tenant's desire to reduce the size of its Premises, Tenant agrees
to vacate any or all of its Premises located on floors 4, 5 and 6 of the
Building upon thirty (30) days notice from Landlord, and to leave the designated
space in the condition described in Section 6 of the Lease. Tenant understands
and agrees that Landlord will be marketing such space as available for lease.
If
the Landlord is able to lease such designated space to a third party, as of
the
date Landlord receives rent for such space, such designated space shall be
removed from the Premises, and there shall be a reduction in the total monthly
Base Rent, and Tenant's Proportionate Share, reflecting the new, reduced size
of
the Premises.
3. General:
(a) In
all
other respects, the Lease shall remain in full force and effect.
(b) This
First Amendment shall be binding upon the parties hereto and their respective
successors, and assigns.
(c) This
First Amendment shall be interpreted and construed in accordance with the laws
of the State of Maryland.
WITNESS
the
hands and seals of the parties hereto as of the day and year first above
written.
| WITNESS: |
LANDLORD:
000
X. XXXXXXX XXXXXX, LLC,
a
Delaware limited liability company
|
|
|
|
By: KFD
Fayette Street, LLC,
a
Delaware limited liability company,
its
Managing Member
By: The
Xxxxx X. Xxxxxxx Company, Inc.
a
Pennsylvania corporation, its
Managing Member
|
|
|
/s/ Xxxxx
Xxxxxxxx
|
By: /s/
Xxxxx X. Xxxxxx, Xx.
Xxxxx
X. Xxxxxx, Xx.
Vice
President
|
|
| WITNESS | TENANT: | |
| BASI MARYLAND, INC. | ||
| /s/ X. Xxxxx |
By:
/s/
Xxxxxx Xxxxx
Name:
Xxxxxx
X. Xxxxx
Title:
Executive
Vice President
|
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