EXHIBIT 10.5.1
FIRST LEASE AMENDMENT
---------------------
This First Lease Amendment, made this 26th day of June, 1998 by and between
Sterling/Gunston LLC, successor to Sterling/Gunston Limited Partnership
("Landlord"), and Network Access Solutions ("Tenant"), is an integral part of
that lease dated February 27, 1997 for 000 Xxxxxxxxx Xxxxx, Xxxxx 000, Xxxxxxxx,
Xxxxxxxx.
Whereas Landlord and Tenant wish to modify the terms of the Lease,
Landlord and Tenant hereby agree that the Lease shall be amended as
follows:
1.) Lease Premises. The Tenant currently occupies 4,486 rentable square
--------------
feet of office space known as 000 Xxxxxxxxx Xxxxx, Xxxxx 000, Xxxxxxxx,
Xxxxxxxx. Effective September 1, 1998, the Premises shall be amended to include
Suite 205 (2,305 sf.) which shall be a total of 6,791 rentable square feet (the
"Premises") as shown on Exhibit A-1.
2.) Term. The term of the lease shall be extended to August 31, 2001.
----
3.) Rent. Effective September 1, 1998, the Base Rent shall be $8,175.45
----
per month and shall escalate by 3% upon each anniversary of the commencement
date.
4.) Additional Rent. Tenant shall be responsible for its proportionate
---------------
share of common area maintenance operating expenses above Base Year 1997 which
were approximately $6.40 per square foot.
5.) Tenant Improvements. Landlord shall paint and recarpet Suite 205 and
-------------------
connect both suites as shown on the attached Exhibit A-1.
5.) Brokerage. Tenant warrants and represents that no broker or agent was
---------
instrumental in consummating this Lease Amendment and that no prior negotiations
were had by Tenant with any broker or agent concerning this Lease Amendment.
6.) All other terms and conditions of the Lease not addressed in this
Fourth Lease Amendment shall remain in full force and effect.
LANDLORD
Sterling/Gunston LLC
By: Rock Creek Realty LLC
Authorized Member
By: Xxxxxxxxx Development Corporation
Its Manager
Date: 6/26/98 By: /s/ Xxxxxx X. Xxxxxxx
Xxxxxx X. Xxxxxxx, Vice President
TENANT
Network Access Solutions
Date: 6/24/98 By: /s/ Xxx Xxxx
-2-
