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EXHIBIT 10.4
FIRST AMENDMENT TO LEASE
THIS FIRST AMENDMENT TO LEASE ("Amendment") is entered into as of the 1st
day of May, 1999, between 106th South Business Park, Limited Partnership, a Utah
limited partnership, ("LANDLORD"), and XxxxxxXxxx.xxx, Inc., a Delaware
corporation ("TENANT").
W I T N E S S E T H
WHEREAS, LANDLORD and TENANT entered into a lease dated January 22, 1999,
relating to 3,521 square feet of net rentable area, situated on the fifth floor
of the building located at 00000 Xxxxx Xxxxxx Xxxxxxx, Xxxxx Xxxxxx, Xxxx
(hereinafter referred to as "Premises #1"), said building being known as The
Towers at South Towne II, and;
WHEREAS, LANDLORD and TENANT desire to lease additional space situated on
the fifth floor of said building (hereinafter referred to as "Premises #2") to
Tenant, and;
WHEREAS, LANDLORD and TENANT desire to amend the Lease so as to incorporate
the terms and conditions which relate to Premises #2;
NOW, THEREFORE, for and in consideration of the mutual promises and
provisions herein contained and for other good and valuable consideration the
receipt and sufficiency of which are hereby acknowledged, the parties mutually
certify and agree to the following terms and conditions:
1. Premises. Paragraph 1.1 of the Lease is hereby deleted in its entirety
and is replaced with the following new Paragraph 1.1:
"1.1. Premises. The Premises shall consist of 3,521 square feet
of net rentable area and 2,993 square feet of net usable area on the fifth
floor of the building (Premises #1), along with 2,315 square feet of net
rentable area and 1,968 square feet of net usable area to the west and
adjacent to Premises #1 on the fifth floor of the building (Premises #2);
the total of Premises #1 and Premises #2 comprising the Premises."
Basic Monthly Rent. Paragraph 1.4 of the Lease is hereby deleted
in its entirety and is replaced with the following new Paragraph 1.4:
1.4 Basic Monthly Rent. The Basic Monthly Rent shall be
Nine Thousand Three Hundred Thirty-Six Dollars and Seventy-Nine
Cents ($9,336.79) computed as follows:
1.4.1 Premises #1. The Basic Monthly Rent for Premises #1
shall be Five Thousand Five Hundred Seventy-Four Dollars and
Ninety-Two Cents ($5,574.92) at $19.00 (annual) per net rentable
square foot.
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1.4.2 Premises #2. The Basic Monthly Rent for Premises #2
shall be Three Thousand Seven Hundred Sixty-One Dollars and
Eighty-Eight Cents. ($3,761.88) at $19.50 (annual) per net
rentable square foot.
1.4.3 LANDLORD has agreed to alter the monthly Lease
payment referenced in 1.4.1 above by reducing the monthly payment
amount to $4,574.92 for the first 24 months of the Lease Term and
increasing the monthly payment amount to $6,241.59 for the
remaining 36 months of the Lease Term. This would change the
basic monthly rent referenced in 1.4 above to $8,336.80 for the
first 24 months and $10,003.47 for the remaining 24 months.
Notwithstanding the alteration of the payment schedule provided
in this Section 1.4.3, Consumer Price Index adjustments, if any,
as provided in Section 4.3 or any other adjustments to the rent
payment as provided for in the Lease, shall be based on the basic
monthly rent as provided for in Section 1.4.
1.4.4 Timing. The Basic Monthly Rent for Premises #1 shall
commence in compliance with the terms of the lease dated January
22, 1999. The Basic Monthly Rent for Premises #2 shall commence
on May 15, 1999.
3. Basic Monthly Rent. Paragraph 4.1 of the Lease is hereby deleted in its
entirety and is replaced with the following new Paragraph 4.1:
4.1 Basic Monthly Rent. TENANT agrees to pay LANDLORD, at 00000
Xxxxx Xxxxxx Xxxxxxx, Xxxxx 000, Xxxxx Xxxxxx, Xxxx 00000 or at such other
address designated by LANDLORD, the Basic Monthly Rent, without prior demand
therefor, without offset or deduction and in advance before the end of first day
of each calendar month during the Term, commencing on the Actual Commencement
Date. TENANT shall thereafter, subject to any C.P.I. or any other adjustment
contained in the Lease, pay the amounts as provided for in the amended
paragraphs 1.4 through 1.4.4 in monthly lease payments until the expiration of
the Lease term. In the event the Actual Commencement Date occurs on a day other
than the first day of a calendar month, then the Basic Monthly Rent to be paid
on the first day rent is due shall include both the Basic Monthly Rent for the
first full calendar month occurring after the first day rent is due, plus the
Basic Monthly Rent for the initial fractional calendar month prorated on a
per-diem basis (based upon a thirty (30) day month).
4. Tenant improvements and Landlords cost therefore of Premises #2 are
subject to written approval of final plans by Tenant and Landlord.
5. Ratification. Except as expressly set forth in this First Amendment to
Lease, the Lease and each and every provision thereof, is hereby ratified and
affirmed in its entirety.
IN WITNESS WHEREOF, this Second Amendment to Lease is executed by LANDLORD
and TENANT as of the first date set forth above.
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LANDLORD: TENANT:
000xx Xxxxx Xxxxxxxx Xxxx XxxxxxXxxx.xxx, Inc., a Delaware
Limited Partnership, A Utah corporation
Limited Partnership
BY: /s/Xxxxx X. Xxxxx, Xx. BY: /s/Xxxxxxx Xxxxx
Xxxxx X. Xxxxx, Xx., Partner --------------------------------
Managing member for LGM, LC Its: Executive Vice President
General Partner
