MODIFICATION OF LEASE Amendment to lease that extends the lease term and increases rent
Exhibit 10.55
MODIFICATION OF LEASE
Amendment to lease that extends the lease term and increases rent
1.
Lease Amendment and Extension Agreement
This lease amendment agreement is made on April 1, 2007, by KNK Properties, LLC, whose address is 0000 Xxxxx Xxxxxxx Xxxxxx, in Las Vegas, Xxxxx County, Nevada (referred to in this instrument as “lessor”), and Streamray Inc., whose address is 0000 Xxxxx Xxxxxxx Xxxxxx, Xxxxx #000, in Las Vegas, Xxxxx County, Nevada (referred to in this instrument as “lessee”).
2.
Recitals
Pursuant to the lease dated April 21, 2005 (“lease”), and further amendment dated September 1, 2005 lessee let from lessor approximately 5,440 square feet of net rentable area in the building commonly known as Eastern Professional Plaza located at 0000 Xxxxx Xxxxxxx Xxxxxx, Xxxxx #000, Xxx Xxxxx, Xxxxx Xxxxxx, Xxxxxx (the “premises”), and more specifically described in the lease, for a term which expires on April 30, 2007 (the “lease termination date”).
Lessor and lessee desire to extend term of lease of said premises for a period of TWO (2) years beginning May 1, 2007.
Therefore, in consideration of the mutual promises contained in this lease amendment agreement, the parties agree as follows:
3.
Section One - Construction
This lease amendment and extension agreement shall be construed in conjunction with the lease and, except as amended by this instrument, all of the terms, covenants, and conditions of the lease shall remain in full force and effect and are ratified and confirmed by this instrument.
4.
Section Two - Defined Terms
All terms used in this lease amendment and extension agreement shall have the meanings ascribed to them in the lease unless otherwise defined in this instrument.
5.
Section Three — Lease Term
The term of the letting of the premises shall be as indicated in the original lease dated April 21, 2005.
6.
Section Four - Base Rent
Beginning on May 1, 2007, lessee shall pay base rent for year one (1) of extension in the amount of $9,248.00, payable in advance on the first day of each month in the manner provided in the lease.
Beginning on May 1, 2008, lessee shall pay base rent for year one (1) of extension in the amount of $9,520.00, payable in advance on the first day of each month in the manner provided in the lease
7.
Section Five - Additional Rent
Lessee shall make payments with respect to real estate taxes, operating expenses, and other additional rent, if any, in the manner provided in the lease.
8.
Security Deposit
Security Deposit from lease dated April 21, 2005 will continue to be held and increased by $272.00 to be equal to one month’s rent payable May 1, 2007, and an additional $272.00 on May 1, 2008.
In witness, lessor and lessee duly executed this lease amendment and extension agreement, as of the day and year written above.
LESSOR: | LESSEE: | ||||||
KNK Properties, LLC A Nevada Limited Liability Company 0000 X. Xxxxxxx Xxxxxx, Xxxxx 000 Xxx Xxxxx, Xxxxxx 00000 | Streamray, Inc. 0000 X. Xxxxxxx Xxxxxx, Xxxxx #000 Xxx Xxxxx, Xxxxxx 00000-0000 | ||||||
By: | /s/ Xxxx Xxxxxxxxx | By: | /s/ Xxxxx Xxxxx | ||||
Xxxx Xxxxxxxxx |
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Its: Principal | Its:
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Executed in Las Vegas, Nevada | Executed in Las Vegas, Nevada Palo Alto, CA | ||||||
on | April 30, | 2007 | on | April 23, | 2007 | ||
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at 0000 Xxxxx Xxxxxxx Xxxxxx, Xxxxx #000 Xxx Xxxxx, Xxxxxx 00000 | at | ||||||
