COMMERCE
COMMUNITIES
August 19, 1998
Xxxx Xxxxxxxx
c/o V3 Corporation
000 Xxxxxxxxx Xxxx, Xxxxx 000
Xxxxx Xxxx, Xxxxxxx, Xxxxxx X0X 0X0
Re: Lease renewal, 0000-X Xxxxx Xxx., Xxxxx Xxxxx, XX
Dear Xxxx:
This letter will serve as our written agreement to extend your Lease one (1)
year. The Lease Extension is for that certain Lease dated September 20, 1995 by
and between San Xxxxx Investors II, Landlord and V 3 Corporation, Tenant,
covering those certain premises known and numbered as stated above, which Lease
was to terminate September 30,1998.
Lessor and Xxxxxx hereby agree:
1. The term of said Lease shall be extended through September 30,1999.
2. The base rent, es provided in paragraph 3, shall be increased to two
thousand one hundred dollars ($2,100.00) per month beginning October 1, 1998 and
continuing to September 30, 1999.
3. The security deposit shall be increased from $1,785.00 to $2,100.00.
4. Tenant acknowledges that there exists a license from the Principal
Mutual Life Insurance Company which permits the Tenant to pay rent to San Xxxxx
Investors II. Xxxxxx further acknowledges that the Principal Mutual Life
Insurance Company has the right to revoke such license and that upon such
revocation the Tenant will pay rent at such address as the Principal Mutual Life
Insurance Company may direct by written notice to Tenant.
5. The Base Year for Real Property Taxes per paragraph 4 of the lease shall
be changed to 1998-1999 and the Base Year for Operating Expenses per paragraph 5
shall be changed to 1998.
6. All other terms and conditions of said Lease shall remain the same and
in full force and effect.
It the foregoing is acceptable, please sign and return the original and two
(2) copies to me at your earliest convenience. A fully executed copy will be
returned to you.
Sincerely,
COMMERCE COMMUNITIES CORP. AGREED & ACCEPTED
/s/ Xxxxxxx X. Xxxxxxx
By:[Signature Illegible]
Xxxxxxx X. Xxxxxxx
President Date: 9/1/98
By: /s/ Xxxx Xxxxxxxx
Date: August 25, 1998
Real Estate Development o Management o Brokerage
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COMMERCE COMMUNITIES CORP. o 0000 Xxxxx Xxxxxx x Xxxxx Xxxxx, XX 00000 o
(000) 000-0000 o Fax (000) 000-0000
xxx.xxxxxxxxxxxxxxxxxxx.xxx
