Prepared by XXXXXXX CORPORATION xxx.xxxxxxxxxxxxxx.xxx
Exhibit 10.7
SECOND AMENDMENT TO LEASE
THIS SECOND AMENDMENT TO LEASE is made and entered into as of this 31st day of July, 1999, by and between Lake Xxxxxxxxx Properties, L.L.P, a Minnesota general
partnership ("Landlord"), and FSI International, Inc., a Minnesota corporation ("Tenant").
RECITALS
A. Landlord,
as landlord, and Tenant, as tenant, entered into that certain Lease dated June 27, 1985 (the "Lease"), covering land and improvements at 000 Xxxx
Xxxxxxxxx Xxxxx, located in City of Chaska, Xxxxxx County, Minnesota, and legally described in Section 1.3 of the Lease.
B. Landlord
and Tenant entered into that certain First Amendment to Lease dated October 31, 1995 (the "First Amendment"),
C. Landlord
and Tenant now desire to amend the Lease in certain respects as more specifically provided in this Amendment.
Accordingly,
Landlord and Tenant agree as follows:
1. Adjustment Date. The definition of "Adjustment Date" in Section 1.3 of the Lease (as amended
by Section 1 of the First Amendment) is hereby deleted.
2. Extension of Term. Section 2.2 of the Lease (as amended by Section 2 of the First
Amendment) is hereby amended and restated in its entirety as follows:
2.2 Tenant
has heretofore extended the Term through October 31, 2000. The term is hereby extended through and shall end on October 31, 2001, with no
further right of extension. It is the express intention of the parties hereto that such extension shall operate not as a renewal of this Lease but as an extension of the Term hereof, so that this
Lease and each and every covenant, agreement and provision thereof shall be and remain in full force and effect during the Term hereof as extended and with the same force and effect as if the Term of
this Lease were originally for such extended period.
3. Basic Rental. Section 3.2 of the Lease (as amended by Section 4 of the First
Amendment) is hereby amended to add the following subsection:
3.2.5 For
the period commencing on November 1, 2000, and ending on October 31, 2001, at the per annum rate of $700,000.00.
4. Consent to Sublease. Landlord hereby consents to the sublease of a portion of the Property to The
BOC Group, Inc. pursuant to the terms of the Sublease Agreement dated July 31, 1999 ("Sublease"). No assignment or additional subletting is permitted without the express written consent
of Landlord and Tenant acknowledges that its obligations under the Lease remain in full force and effect and are not diminished or released in any manner by virtue of the Sublease.
Landlord's
consent to the Sublease does not result in any express or implied right or ability of The BOC Group, Inc. to exercise the purchase option or right of refusal set
forth in the Prime Lease.
5. Notice. Tenant agrees to provide Landlord with copies of any notices of default sent by Tenant to
The BOC Group, Inc.
6. Miscellaneous. Except as specifically amended herein, the terms and conditions of the Lease remain
unchanged and in full force and effect. This Second Amendment shall be binding on and inure to the benefit of the parties hereto and their respective successors and assigns. This Second Amendment may
be executed in counterparts in which case all counterparts taken together shall constitute one Second Amendment. A facsimile signature shall be considered an original.
The
parties have executed this Second Amendment to Lease as of the date and year first above written.
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LAKE XXXXXXXXX PROPERTIES, L.L.P.
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By:
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/s/ X.X. XXXXXXXX
A General Partner
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By:
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/s/ XXXXXX X. XXXXX
A General Partner
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By:
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/s/ XXXXXX X. XXXXXXXXX
A General Partner
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TENENT:
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FSI INTERNATIONAL, INC.
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By:
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/s/ BENNO SAND
Its Chief Administrator Officer
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By:
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/s/ XXXXXXXX X. XXXXXXXXX
Its Chief Financial Officer
SECOND AMENDMENT TO LEASE
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