Exhibit 10.13
FIRST AMENDMENT TO LEASE
In reference to the lease dated September 5, 1991 between 111 Partners as
Landlord and Fair, Xxxxx and Company, Incorporated as Tenant, the parties agree
that Tenant exercised its option to renew contained in Paragraph 32 of the lease
and that the current monthly rental rate is $69,927.23, subject to adjustment as
provided for in the lease each July 1st of the lease term. The parties agree to
modify the terms of that lease as follows:
A. Landlord's Management Fee and the monthly amount paid as a maintenance
reserve (hereinafter "Maintenance Reserve") as described in paragraph
5(b) shall each be increased as provided below effective each July 1st
for the remaining term of the lease.
B. The parties agree that as of July 1, 2001, the amount of the monthly
Management Fee was $1,287.00 per month and the Maintenance Reserve was
$297.00 per month and that these amounts will be effective through
June 2002.
C. The monthly amounts of the Management Fee and the Maintenance Reserve
will be adjusted effective upon the first day of the month of July
2002 and upon the expiration of each 12 months thereafter in
accordance with changes in the U.S. Consumer Price Index for All Urban
Consumers for San Francisco-Oakland-San Xxxx (1982-84 = 100) ("CPI").
The monthly payments will be increased to amounts equal to the product
obtained by multiplying the payment amounts in effect immediately
prior to the adjustment date (without regard to any temporary
abatement pursuant to other provisions of the lease) by a fractions,
the numerator of which is the CPI published most immediately prior to
the adjustment date and the denominator of which is the CPI published
for the month which is twelve months earlier.
D. All other terms and conditions of the lease will remain unchanged.
ACCEPTED AND AGREED:
/s/ Xxxx X. Xxxxxxxx 8/22/01
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TENANT DATE
/s/ Xxxxx X. Xxxxx 8/30/01
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LANDLORD DATE
/s/ Xxxxxxx X. Xxxxx 8/30/01
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LANDLORD DATE
