EXHIBIT 10.14
FIRST AMENDMENT TO LEASE AGREEMENT
This First Amendment to Lease Agreement ("Amendment") is entered into as of
January 15, 1999, by and between XXXX/INTEREAL BAY AREA, a California general
partnership, ("Landlord"), and IGS TECHNOLOGIES, INC., a California corporation
("Tenant"), formerly known as Integraphics Systems, Inc., with reference to the
following facts:
Recitals
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A. Landlord and Tenant entered into that certain lease agreement dated
October 27, 1995 ("Lease"), for premises located in the City of Santa Xxxxx,
County of Santa Xxxxx, State of California more particularly described in the
Lease and commonly known as 0000 Xxxxxx Xxxxx ("Premises").
B. Landlord and Tenant now wish to amend the Lease to extend the three
(3) year term of the Lease for an additional six (6) months as more particularly
set forth hereinbelow.
NOW, THEREFORE, in consideration of the covenants and agreements contained
in this Amendment and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Landlord and Tenant agree as
follows:
Amendments and Agreements
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1. Recitals. All of the above recitals are true and correct.
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2. Definitions. Unless otherwise defined in this Amendment, all
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capitalized terms used in this Amendment which are not defined in this Amendment
shall have the same meaning and definition given them in the Lease.
3. Extension of Term. The existing three (3) year term of the Lease is
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hereby extended for an additional six (6) month period commencing on February 1,
1999 and expiring on July 31, 1999 ("Extension Period"). All references in the
Lease and in this Amendment to "Term" shall mean the existing three (3) year
term of the Lease as extended through the Extension Period.
4. Monthly Rent. Net Monthly Rent for each and every month of the
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Extension Period shall be Twenty-Five Thousand Five Hundred Sixty-Seven and
25/100ths Dollars ($25,567.25) per month.
5. As Is. Tenant shall lease the Premises for the Extension Period in its
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"AS IS" condition on the date of the commencement of the Extension Period.
Landlord shall have no obligation to make any improvements, alterations,
modifications, repairs or refurbishments of any nature whatsoever to the
Premises as a condition to or in connection with Tenant's lease of the Premises
for the Extension Period.
6. Brokers. Each of Landlord and Tenant represent and warrant to the
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other that neither it nor its officers, partners, agents, or anyone acting on
behalf of it, has dealt with any real estate broker in the negotiating or making
of this Amendment, except that Landlord has dealt with CB Xxxxxxx Xxxxx, Inc., a
Delaware corporation ("CBRE"), in the negotiating and making of this Amendment.
Each of Landlord and Tenant agree to indemnify and hold the other harmless from
any claims, costs, or expenses, including reasonable attorneys' fees and costs,
incurred by the indemnified party in conjunction with any claim or claims of any
broker to a commission in connection with this Amendment as a result of the acts
or omissions of the indemnifying party.
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Any commission or other compensation due CBRE in connection with this Amendment
shall be paid by Landlord.
7. Inconsistency. In the event of any inconsistency or conflict between
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the terms of this Amendment and the terms of the Lease with respect to the
matters which are a subject of this Amendment, the terms of this Amendment shall
control.
8. Ratification. Except as amended by this Amendment, the terms and
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provisions of the Lease are hereby ratified, confirmed, and shall remain in full
force and effect.
IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as of
the day and year first hereinabove written.
LANDLORD:
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XXXX/INTEREAL BAY AREA,
a California general partnership
By: CB Xxxxxxx Xxxxx, Inc.,
a Delaware corporation
Its: Managing Agent
By: /s/ Xxxxxx X. Xxxxxx
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Its: as Director CBREI
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TENANT:
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IGS TECHNOLOGIES, INC.,
a California corporation
By: /s/ Xxxxx Xxx
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Its: CEO
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By:___________________________
Its:__________________________
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