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AMENDMENT # 4
To Lease dated October 9, 1992 between Welsh Edenvale Partners '86 (a
Minnesota limited partnership), as lessor and Stratasys, Inc. (a Delaware
corporation) as Lessee.
THIS AGREEMENT TO LEASE, entered into and made as of July 27, 1998, by and
between Xxxxxxxxx Land Company L.L.P., as Landlord and Stratasys, Inc., (a
Delaware corporation), as Lessee.
WITNESSETH:
WHEREAS, Lessor and Lessee have heretofore entered into a Lease Agreement
(hereinafter referred to as the "Lease"), dated October 9, 1992 for
office/warehouse space located at 00000 Xxxxxx Xxxxx, Xxxx Xxxxxxx, Xxxxxxxxx,
(hereinafter the "Demised Premises", commencing November 1, 1992; and
WHEREAS, Xxxxxxxxx Land Company, Landlord, purchased the building
including the Demised Premises on April 30, 1993; and
WHEREAS, Landlord and Lessee amended the Lease on January 23, 1995 in
Amendment #1; and
WHEREAS, Landlord and Lessee amended the Lease on June 22, 1995 in
Amendment #2; and
WHEREAS, Landlord and Lessee amended the Lease on October 30, 1995 in
Amendment #3.
NOW, THEREFORE, in consideration of rents reserved and of the covenants
and agreements herein set forth, it is agreed by Landlord and Lessee that the
Lease is hereby amended from and after the date hereof as follows:
1. TERM
The lease term shall be extended by thirty-six (36) months, commencing on
August 1, 1999 and terminating on July 31, 2002.
2. BASE RENT
The base rent for the extension period shall be as follows:
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Base Rent
Period Per Month Annual Rent
------ --------- -----------
August 1, 1999 through and
including July 31, 2000 $13,938.00 $167,256.00
August 1, 2000 through and
including July 31, 2001 $14,519.00 $174,228.00
August 1, 2001 through and
including July 31, 2002 $15,100.00 $181,200.00
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TOTAL $522,684.00
3. IMPROVEMENTS
The Landlord agrees to provide, at no expense to Lessee, the following
improvements to the Demised Premises:
o Re-paint the building exterior in a mutually acceptable color.
o Provide a $5,000.00 allowance to be used to construct a new, lighted
building monument sign.
o Overlay the asphalt in the loading area on the east side of the
building.
o Modify the HVAC systems by adding two (2) new air conditioning
units, new ducting and rebalance air flow to correct temperature and
control deficiencies.
The Landlord agrees to begin work on these improvements as soon as
reasonably possible after this Amendment is fully executed. Any
improvements other than those described above must be approved by the
Landlord and shall be completed at the sole cost of the Lessee.
Except as herein above set forth, all terms, provisions and covenants of
the Lease shall remain unchanged and in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment #4 as
of the date and year first above written.
Lessee: Landlord:
STRATASYS, INC. XXXXXXXXX LAND COMPANY, L.L.P.
(a Delaware corporation)
By: /s/ Xxxxxx Xxxxxxx By: /s/ Xxxx X. Xxxxxxxxx
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Its: Chief Operating Officer Its: General Partner
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By: /s/ Xxx X. Xxxxx
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Its: General Partner
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