SECOND AMENDMENT TO LEASE
Exhibit 10.10
SECOND AMENDMENT TO LEASE
This SECOND AMENDMENT TO LEASE is made this 13th day of November 2008, by and between 0000 XXXXXX XXXXXX INVESTORS, LLC (as “Landlord”) and XXXXXXX ORGANIC INNOVATIONS, INC., a Delaware Corporation (as “Tenant”) having an office at 0000 Xxxxxx Xxxxxx, Xxxxx X-000, Xxxxx, Xxxxxxxxxx.
Witnesseth:
Davis Commerce Center, LLC (Landlord’s predecessor in interest) and Xxxxxxx Organic Innovations, Inc., having entered into a lease (the “Lease”) dated August 3, 2007 for suites B-106 & B-107 as amended by the First Amendment to Lease to include suite B-104 in the Project known as Xxxxx Commerce Park, Davis, California; and
WHEREAS, LANDLORD and TENANT are desirous of amending said Lease in the manner as set forth below, hereby agree as follows:
AMENDMENT
PREMISES:
The parties hereto agree to increase the size of the demised premises by 2,592 rentable square feet in the suite known as B-108 as shown on the attached Exhibit “A”. Effective March 1, 2009 Tenant shall occupy a total of 10,958 rentable square feet.
TERM:
The Lease term for suite B-108 shall be seventy-one (71) months beginning March 1, 2009 and will terminate on February 10, 2015.
BASE MONTHLY RENT:
Beginning March 1, 2009 Tenant shall pay to Landlord during the remaining Lease Term for suite B-108 monthly rent as follows:
March 1, 2009 – February 28, 2010 $1.40 per sq. ft. NNN
March 1, 2010 – February 28, 2011 $1.45 per sq. ft. NNN
March 1, 2011 – February 28, 2012 $1.50 per sq. ft. NNN
March 1, 2012 – February 28, 2013 $1.55 per sq. ft. NNN
March 1, 2013 – February 28, 2014 $1.60 per sq. ft. NNN
March 1, 2014 – February 10, 2015 $1.65 per sq. ft. NNN
TENANT IMPROVEMENTS:
Landlord shall provide a tenant improvement allowance equal to $25,920.00 to be paid to a tenant improvement contractor selected by Tenant. Any improvement allowance not used by improvements to suite B-108 shall be available to offset costs of improvements underway in B-104.
SECURITY DEPOSIT:
Additional security deposit shall not be required.
LANDLORD: | TENANT: | |||||||
0000 XXXXXX XXXXXX INVESTORS, LLC | XXXXXXX ORGANIC INNOVATIONS, INC., a Delaware Corporation | |||||||
By: |
/s/ Xxx Xxxxx | By: |
/s/ Xxxxx X. Xxxxxx | |||||
Xxx Xxxxx | Xxxxx X. Xxxxxx | |||||||
Its: |
Managing Partner | Its: | Chief Financial Officer |