1
Exhibit 10.22
FIRST AMENDMENT TO LEASE AGREEMENT
THIS AMENDMENT of Lease (this "Amendment") is made and entered
into this 5th day of January 2001, by and between WESTERN CENTER PROPERTIES,
INC. ("Landlord") and FOCUSED RESEARCH, INC., ("Tenant").
W I T N E S S E T H:
WHEREAS, the Tenant entered into a Lease, dated April 1, 2000,
for certain space in a building known as the Research Center, ("Building"),
located at 0000 Xxxxxxxx Xxx, Xxxxxxxxx, XX 00000; and
WHEREAS, the Landlord is the current owner of the real estate
which is the subject matter of the Lease; and
WHEREAS, the parties desire to lease an additional 13,062 square
feet as shown on Exhibit A (attached) on the terms and conditions contained
herein;
NOW, THEREFORE, in consideration of the mutual promises contained
herein and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, it is agreed as follows:
1. Additional Space. Landlord hereby rents to Tenant those
certain premises designated on the floor plan attached hereto as EXHIBIT "A"
consisting of 13,062 rentable square feet located in the Building.
2. Term and Possession. This Amendment shall be for the term
ending on the Termination date of the original lease.
3. Fixed Rent. Tenant shall pay to Landlord as Fixed Rent the
following:
~ $ 5.00 per square foot for the Space A on Exhibit A (4,675
square feet) starting 1/1/01 until developed (i.e., Tenant
Buildout). Monthly rent of $1.947.92.
~ $12.00 per square foot for the Space B on
Exhibit A (private vestibule - 186 square
feet) starting 1/1/01. Monthly rent of
$186.00.
~ $ 5.00 per square foot for Space C on Exhibit
A (8,201 square feet) from 1/1/01-4/30/01.
Monthly rent of $3,417.08.
~ $ 8.63 per square foot for Space C on Exhibit
A (8,201 square feet) from 5/01/01 until
developed. Monthly rent of $5,897.89.
Once developed, both the Space A and Space B
rates will be based upon then current rental
rates according to use (e.g., office, lab or
warehouse) as dictated by the original lease. In
addition, once developed the warehouse space
cannot constitute more than 20% of the total
space.
2
4. Interim Use - None. Tenant agrees not to the put the undeveloped
space to any use.
5. Rent Escalators. Rent on the space shall increase on the
anniversary date of the Lease starting on January 1, 2002 by 3%.
6. Tenant Improvements. Landlord will provide Tenant a build-out
allowance in the amount of twelve ($12.00) per square foot of office space.
7. Common Area Expenses. Tenant shall pay its prorated share of all
common area utilities, special assessments, real estate taxes, sales or other
taxes, repairs and maintenance costs (including landscape maintenance costs),
management fees, and water and sewer charges. Tenant's "prorated share" shall be
fifteen point eight percent (15.8%), 31,322 square feet of the 197,769 square
foot Building. In the event the Building is expanded, a new prorated percentage
shall be calculated by dividing the total square footage of Tenant's premises by
the gross square footage of the Building at the time.
8. Except as specifically amended herein, the Lease is hereby ratified
and affirmed and shall remain in full force and effect. Each party acknowledges
that the other party is not in default under this Lease nor does either party
know of any circumstance that, with the giving of notice, would result in the
other party being in default under this Lease.
IN WITNESS WHEREOF, the undersigned have executed this Amendment on the
day and year first above written.
LANDLORD: TENANT:
WESTERN CENTER PROPERTIES, INC. FOCUSED RESEARCH, INC.
By: /s/ XXXXX BIENDSEIL By: /s/ XXXXXX XXXXXXXX
--------------------------- -------------------
Name: Western Center Properties Name: Xxxxxx Xxxxxxxx
Title: Executive Vice President Title: Vice President
