FIRST AMENDMENT OF LEASE
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Agreement made as of this day of November, 1997, between XXXXXXX XXXXX
ASSOCIATES, L.P., having an office at 675 Avenue of the Americas, Xxx Xxxx, Xxx
Xxxx 00000 ("Landlord") and SILICON VALLEY INTERNET PARTNERS, having an office
at 000 Xxxxx Xxxx, Xxxxx 000, Xxxxxxx Xxxx, Xxxxxxxxxx 00000 ("Tenant").
WITNESSETH:
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WHEREAS, Landlord has leased to Tenant certain premises located at 000
Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, Xxx Xxxx, pursuant to a Lease Agreement dated
July 28, 1997 ("Lease"); and
WHEREAS, Tenant has requested Landlord to give Tenant an additional
Three Hundred Thousand and 00/100 ($300,000.00) Dollars as reimbursement for the
actual costs of Tenant's Extra Work as defined in the Lease; and
WHEREAS, the Lease provides that in the event Landlord shall deliver to
Tenant said $300,000.00, the fixed annual rent for each year throughout the Term
of the Lease shall be increased by One and 00/100 ($1.00) Dollar for each Six
and 00/100 ($6.00) Dollars of increase in the reimbursement amount as provided
for in Article 6.09(b) of the Lease.
NOW, THEREFORE, the Landlord and Tenant agree as follows:
1. All defined terms used in this First Amendment of Lease shall have
the meaning set forth in the Lease, as modified by this First Amendment of
Lease.
2. The fixed annual rent set forth in Article 1.1 of the Lease shall be
amended as follows:
Year Fixed Annual Rent Monthly Installment
---- ----------------- -------------------
Rent Commencement
Date-12 $700,000.00 $58,333.33
Month 13-24 $713,000.00 $59,416.67
Months 25-36 $726,000.00 $60,500.00
Months 37-48 $739,000.00 $61,583.33
Months 49-60 $752,000.00 $62,666.67
Months 61-72 $802,000.00 $66,833.33
Months 73-84 $816,000.00 $68,000.00
Months 85-96 $830,000.00 $69,166.67
Months 97-108 $844,000.00 $70,333.33
Months 109-120 $858,000.00 $71,500.00
3. The Security Deposit, after applying the provisions of Articles
40.01 and 40.03 shall be in the initial amount of $837,500.00, and shall
thereafter be as follows:
Anniversary of Rent Amount
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Commencement Date
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1 $675,500.00
2 $579,000.00
3 $482,500.00
4 $310,500.00
5 $223,500.00
6 and thereafter An
amount equal to two
months fixed annual
rent as in effect
from time to time.
4. All other provisions of the Lease remain in full force effect and
are hereby ratified and confirmed.
IN WITNESS WHEREOF, the parties have hereunto set their hands and seals
as of the day and year first written above.
XXXXXXX XXXXX ASSOCIATES, L.P.
By:__________________________
SILICON VALLEY INTERNET PARTNERS
By: /s/ Signature Illegible