EI
REALTY
21 OCTOBER 1997
RR9999-19
Xx. Xxxxx Xxxxxxx
IBS Interactive
0 Xxxxxxxxx Xxxxxx
Xxxxx Xxxxxx, XX 00000
RE: 0 XXXXXXXXX XXXXXX
XXXXX XXXXXX, XX
Dear Xxxxx:
Pursuant to our telephone conversation this day, I have had the opportunity to
have a discussion with the ownership of 0 Xxxxxxxxx Xxxxxx, Xxxxx Xxxxxx, XX.
Accordingly, we are pleased to submit this revised expansion proposal for a
Lease Modification and Extension Agreement for your consideration.
The terms and conditions are listed below:
EXPANSION PREMISES: 3,270 SF.
CURRENT DEMISED PREMISES: 3,100 SF.
AGGREGATE RENTABLE SPACE: 6,370 SF.
TERM: FIVE (5) YEARS TO COMMENCE 1 JANUARY 1998.
CONCESSION: IBS IS TO OCCUPY THE EXPANSION PREMISES (3,270
SF) DURING THE MONTH OF DECEMBER 1997 AT NO
CHARGE (FREE RENT).
RENTAL RATE: YEARS 1-5 $15.00 PSF, PLUS TENANT ELECTRIC.
NET EFFECTIVE RENTAL RATE: $14.87 PSF, PLUS TENANT ELECTRIC.
TENANT IMPROVEMENTS: THE LANDLORD WILL PROVIDE IBS INTERACTIVE (IBS)
WITH AN ALLOWANCE OF $10.00 PER USABLE SQUARE
FOOT TO BE USED FOR THE EXPANSION PREMISES
TENANT IMPROVEMENTS TO BE PERFORMED BY EI
ASSOCIATES.
EI REALTY
21 October 1997
RR9999-19
Xx. Xxxxx Xxxxxxx
Page -2-
It has been a pleasure having IBS as a tenant these past three (3) months. I
hope the above is responsive to your request for growth and look forward to a
long and continued relationship
Please signify your acceptance of the above by executing and returning one (1)
copy of this letter to our office, via fax (000) 000-0000. Upon receipt of same,
we will prepare a Lease Modification and Extension Agreement reflecting the
above-stated terms. Please note that we must be in receipt of an executed
Modification and Extension Agreement on or before 25 October 1997 in order to
accommodate your desired 1 December 1997 occupancy of the expansion premises.
Very truly yours,
EI REALTY
Xxxxxx X. Xxxx
Leasing Manager
MBO/la
AGREED AND ACCEPTED
/s/ Xxxxx Xxxxxxx 10/21/97
-------------------------- -----------------
IBS INTERACTIVE DATE
