THIRD AMENDMENT TO LEASE
This THIRD AMENDMENT TO LEASE is made and
entered into this 12th day of September, 1997, by and between
XXXXXXX and XXXXXX XXXXX, husband and wife, hereinafter
called "Lessor," and MONTEREY PASTA COMPANY, a Delaware
corporation, hereinafter called "Lessee."
WITNESSETH:
WHEREAS, Lessor and Lessee have entered into a written
lease dated October 3, 1994, regarding the property known as 0000
Xxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxxxx, as amended by Amendment to
Lease date February 1, 1995 and Second Amendment to Lease dated
February 28, 1995, a copy of the Lease and Amendments (hereinafter
referred to as the "Lease") being attached hereto as Exhibit "A"; and
WHEREAS the parties desire to further amend the Lease in
certain other respects.
NOW, THEREFORE, for good and valuable consideration,
the receipt whereof is hereby acknowledged, the parties hereby amend
the Lease as follows.
1. The following shall be added to the end of
Paragraph 2.1 of the Lease:
"Effective February 6, 1998, Lessor shall lease to
Lessee an additional Four Thousand Six Hundred Forty-Nine
(4,649) square feet (which includes a lobby to be
maintained by Lessee) of space, all as more fully shown on
Exhibit 1 attached hereto and made a part hereof. After said
date, the term "Premises" shall hereinafter
refer to the premises currently leased by Lessee (being
37,666 square feet) along with the additional space
described herein (being 4,649 square feet) or a total of forty-
two thousand three hundred fifteen (42,315) square
feet. Regarding the square footage figure above, it is
understood that these figures are approximate only and there
will be no changes in this Lease if it is determined that the
actual square footage leased herein is more or less than
said figures. It is also understood that Lessor will provide
Lessee with twelve (12) parking spaces
for the additional space being leased hereunder."
2. The following shall be added to the end of
Paragraph 4.1 of the Lease:
"Effective February 6, 1998, the base rent shall
increase by the sum of Three Thousand Nine Hundred Fifty-One
Dollars and Sixty-Five Cents ($3,951.65) per month
for a total base rent of Nineteen Thousand Five Hundred Fifty
Dollars and Sixty-Four Cents ($19,550.64); provided,
however, that it is understood that the current rent paid by
Lessee shall be adjusted prior to February 6, 1998 and the
above rental amount will therefore be adjusted
accordingly."
3. The following shall be added to the end of
Paragraph 4.2 of the Lease:
"Notwithstanding anything to the contrary herein, it
is understood that effective February 6, 1998, Lessee shall
lease from Lessor the additional space referred to in
Paragraph 2.1 and this additional space is ten and nineteen
hundredths percent (10.19%) of the total space in
the Industrial Center (being 43,680 square feet). Thus, effective
February 6, 1998, Lessee's share as defined herein will be
ninety-six and eighty-eight hundredths percent
(96.88%).
It is understood that Lessee is currently paying
Lessor the sum of Two Thousand Three Hundred Dollars
($2,300.00) as the monthly operating expenses and
this monthly amount will now increase to Two Thousand Five
Hundred Fifty Dollars ($2,550.00) per month."
4. The following shall be added to the end of
Paragraph 5 of the Lease:
"Notwithstanding anything to the contrary herein, it
is understood that upon execution of this Third Amendment to
Lease, Lessee shall increase the deposit by an additional
Three Thousand Nine Hundred Fifty-One Dollars and
Sixty-Five Cents ($3951.65)."
5. The following shall be added as a new paragraph 55
of the Lease:
"55. Further Consideration For Additional Space.
As further consideration for Lessor leasing to Lessee the
additional space described in the amendment to Paragraph
2.1 of the Lease, Lessee shall pay to Lessor the sum
of Ten Thousand Dollars ($10,000.00) on execution of this
Third Amendment To Lease."
6. The following shall be added as a new paragraph 56
of the Lease:
"56. Conditions Regarding Additional Space.
A. Notwithstanding anything to the contrary herein,
it is understood that the additional space described in the
amendment to Paragraph 2.1 of the Lease is presently being
leased to Xxx and Xxxxx Xxxxxxxx ("Xxxxxxxx") who
operate a public gymnasium on the premises and the lease for
Bradford expires on February 5, 1998. Lessor
cannot warrant that Bradford will vacate the premises on or
before said date but Lessor will use all due diligence
to have the additional space available to Lessee by February
6, 1998. In the event said space is not available until
a later date, it is understood that the amendments herein will
be modified so that the effective date is the date that
the additional space becomes available to the lessee.
B. In the event that Bradford desires to remain a
tenant of said premises after February 5, 1998, it is understood
that Lessee will permit Bradford an opportunity to
remain on the premises for a period not exceeding six (6)
months (or until August 5, 1998) on terms comparable to the
terms in the Lease for the additional space. In the
event that the above leasehold arrangement occurs, the
parties agree and understand that this Lease and the
amendments herein will apply and Lessee will be the lessee
and Bradford will be a sublessee of Lessee during the
period Bradford remains on the premises after February 5,
1998.
C. In the event Bradford (i) does not vacate the
premises on or before February 5, 1998; and (ii) does not finalize
a sublease arrangement with Lessee pursuant to B. above, it
is understood that Lessor, at Lessor's expense, shall
have the responsibility to evict Bradford from the premises."
7. The following shall be added as a new paragraph 57
of the Lease:
"57. Management Fee. Notwithstanding anything
to the contrary herein, it is understood that Lessee shall pay to
Lessor a management fee of three percent (3%) of
the rental paid by Lessee hereunder, payable and due at the
same time as the rent is due hereunder.
Except for the changes described herein, the Lease
remains in full force and effect.
IN WITNESS WHEREOF, the parties hereto have signed
this Third Amendment to Lease on the date first above written.
MONTEREY PASTA COMPANY,
a Delaware Corporation
By: /s/ XXXXXX X. XXXXXXX
Corporate Secretary
/s/ XXXXXXX XXXXX
"Lessee"
"Lessor"
/s/ XXXXXX XXXXX
"Lessor"
FOURTH AMENDMENT TO LEASE
THIS FOURTH AMENDMENT TO LEASE is made and
entered into this 6th day of February, 1998, by and between
XXXXXXX and XXXXXX XXXXX, husband and wife, hereinafter
called "Lessor," and MONTEREY PASTA COMPANY, a Delaware
corporation, hereinafter called "Lessee."
WITNESSETH:
WHEREAS, Lessor and lessee have entered into a written
lease date October 3, 1994, regarding the property known as 0000
Xxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxxxx, as amended by Amendment to
Lease dated February 1, 1995 and Second Amendment to Lease dated
February 28, 1995 and Third Amendment to Lease dated September
12, 1997, a copy of the Lease and Amendments (hereinafter referred
to as the "Lease") being attached hereto as Exhibit "A", and
WHEREAS the parties desire to further amend the Lease in
certain other respects.
NOW, THEREFORE, for good and valuable consideration,
the receipt whereof is hereby acknowledged, the parties hereby amend
the Lease as follows:
1. The following shall be added to the end of
Paragraph 2.1 of the Lease:
"Effective June 1, 1998, Lessor shall lease to Lessee
and additional one thousand three hundred and sixty-five (1,365)
square feet of space, all as more fully shown on Exhibit 1 attached
hereto and made a part hereof. After said date, the term "Premises"
shall hereinafter refer to the premises currently leased by Lessee
(being 42,315 square feet) along with the additional space described
herein (being 1,365 square feet) or a total of forty-three thousand six
hundred eighty (43,680) square feet."
2. The following shall be added to the end of
Paragraph 4.1 of the Lease:
"Effective June 1, 1998. the base rent shall increase
by the sum of One Thousand Nine Hundred Forty-Five Dollars
($1,945.00) per month for a total base rent of Twenty-Two Thousand
One Hundred Twelve Dollars and Twenty Cents ($20,112.20)."
3. The following shall be added to the end of
Paragraph 4.2 of the Lease:
"Notwithstanding anything to the contrary herein, it
is understood that effective June 1, 1998, Lessee shall lease from
Lessor the additional space referred to in Paragraph 2.1 and this
additional space is three and twenty-two hundredths percent (3.22%)
of the total space in the Industrial Center (being 43,680 square feet).
Thus, effective June 1, 1998, Lessee's share as defined herein will be
one hundred percent (100%).
It is understood that Lessee is currently paying
lessor the sum of Two Thousand Five Hundred Fifty Dollars
($2,550.00) as the monthly estimated operating expenses and this
monthly amount will now increase to Two Thousand Seven Hundred
Dollars ($2,700.00) per month."
4. The following shall be added to the end of
Paragraph 4.1 of the Lease:
"Notwithstanding anything to the contrary herein, it
is understood that upon execution of this Fourth Amendment to Lease,
Lessee shall increase the deposit by an additional One Thousand Nine
Hundred Forty-Five Dollars ($1,945.00)."
5. The following shall be added to the end of
Paragraph 55 of the Lease:
"Notwithstanding anything to the contrary herein, it
is understood that Lessee shall pay to lessor the sum of Five Thousand
Dollars ($5,000.00) on execution of this Fourth Amendment to lease."
6. The following shall be added to the end of
Paragraph 57 of the Lease:
"Effective June 1, 1998 Lessee shall pay to Lessor a
management fee of three percent (3%) of the rent paid by Lessee
under this Fourth Amendment, payable and due at the same time as
the rent is due hereunder."
Except for the changes described herein, the Lease remains
in full force and effect.
IN WITNESS WHEREOF, the parties hereto have signed
this Fourth Amendment to Lease on the date first above written.
MONTEREY PASTA COMPANY, a
Delaware corporation,
By: /s/ X.X. XXXXXXXX
/s/ XXXXXXX XXXXX
"Lessee"
"Lessor"
/s/ XXXXXX XXXXX
"Lessor"
