EXHIBIT 10.04
THIRD AMENDMENT TO LEASE
------------------------
I. PARTIES AND DATE.
This Third Amendment to Lease (the "Amendment") dated March 16, 2005, is by
and between IRVINE TECHNOLOGY PARTNERS III, a California general partnership
("Landlord"), and LANTRONIX, INC. WHICH WILL DO BUSINESS IN CALIFORNIA AS
DELAWARE LANTRONIX, INC., a Delaware corporation, as successor-in-interest to
LANTRONIX, a California corporation ("Tenant").
II. RECITALS.
On June 28, 1993, Landlord and Tenant entered into a lease for space in a
building located at 15353 and 00000 Xxxxxxxx Xxxxxxx, Xxxxx 000, Xxxxxx,
Xxxxxxxxxx ("Premises"), which lease was amended by a First Amendment to Lease
dated August 10, 1995, wherein approximately 23,622 rentable square feet within
the building was added to the Premises, and by a Second Amendment to Lease dated
July 6, 2000 (as amended, the "Lease").
Landlord and Tenant each desire to modify the Lease to extend the Lease
Term, to adjust the Basic Rent, and to make such other modifications as are set
forth in "III. MODIFICATIONS" next below.
III. MODIFICATIONS.
A. BASIC LEASE PROVISIONS. The Basic Lease Provisions are hereby amended as
follows:
1. Item 5 is hereby deleted in its entirety and substituted therefor
shall be the following:
"5. Lease Term: The Term of this Lease shall expire at midnight on
July 31,2010"
2. Item 6 is hereby amended by adding the following:
"Commencing August 1, 2005, the Basic Rent shall be Forty Two Thousand
Nine Hundred Eighty-Eight Dollars ($42,988.00) per month, based on
$.84 per rentable square foot.
Commencing August 1, 2006, the Basic Rent shall be Forty Five Thousand
Five Hundred Forty-Seven Dollars ($45,547.00) per month, based on $.89
per rentable square foot.
Commencing August 1, 2007, the Basic Rent shall be Forty Eight
Thousand One Hundred Five Dollars ($48,105.00) per month, based on
$.94 per rentable square foot.
Commencing August 1, 2008, the Basic Rent shall be Fifty Thousand Six
Hundred Sixty-Four Dollars ($50,664.00) per month, based on $.99 per
rentable square foot.
Commencing August 1, 2009, the Basic Rent shall be Fifty Three
Thousand Two Hundred Twenty-Three Dollars ($53,223.00) per month,
based on $1.04 per rentable square foot."
3. Effective as of August 1, 2005, Item 9 shall be deleted in its
entirety and substituted therefor shall be the following:
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"9. Security Deposit: $ 0.00. (See Section III.D of this Amendment
for Letter of Credit requirements). Provided no default by Tenant has
occurred beyond any applicable notice and cure periods, Tenant shall
receive credits in the aggregate amount of Sixty-Nine Thousand Two
Hundred Forty-One Dollars ($69,241.00) (that is, in the amount of the
Security Deposit currently being held by Landlord) against Basic Rent
installments due payable commencing with the month of April, 2005."
4. Item 12 is hereby amended by deleting Landlord's and Tenant's
addresses for payments and notices, and substituting therefor the
following:
"LANDLORD
THE IRVINE COMPANY
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, XX 00000
Attn: Senior Vice President, Operations
Irvine Office Properties
with a copy of notices to:
THE IRVINE COMPANY
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, XX 00000
Attn: Vice President, Operations
Irvine Office Properties, Technology Portfolio
TENANT
LANTRONIX, INC.
00000 Xxxxxxxx Xxxxxxx, Xxxxx 000
Xxxxxx, XX 00000
Attn: Xx. Xxxxx X. Xxxxxxxx"
B. RIGHT TO EXTEND THE LEASE. The provisions of Section III.B of the Second
Amendment to Lease entitled "Right to Extend this Lease" shall remain in full
force and exercisable by Tenant during the Term of the Lease as extended by this
Amendment.
C. AUDIT RIGHTS. The following provisions are hereby added to the end of
Section 4.2(c) of the Lease:
"Provided no default by Tenant has occurred beyond any applicable
notice and cure periods, Tenant shall have the right to cause a certified
public accountant, engaged on a non-contingency fee basis, to audit
Operating Expenses by inspecting Landlord's general ledger of expenses not
more than once during any Expense Recovery Period. However, to the extent
that insurance premiums or deductibles to be included in Operating Expenses
is determined by Landlord on the basis of an internal allocation of costs
utilizing information Landlord in good xxxxx xxxxx proprietary, such
expense component shall not be subject to audit so long as it does not
exceed the amount per square foot typically imposed by landlords of other
first class business parks in Orange County, California. Tenant shall give
notice to Landlord of Tenant's intent to audit within one hundred eighty
(180) days after Tenant's receipt of Landlord's expense statement which
sets forth Tenant's Share of Landlord's actual Operating Expenses. Such
audit shall be conducted at a mutually agreeable time during normal
business hours at the office of Landlord or its management agent where such
accounts are maintained. If Tenant's audit determines that actual Operating
Expenses have been overstated by more than five percent (5%), then subject
to Landlord's right to review and/or contest the audit results, Landlord
shall reimburse Tenant for the reasonable out-of-pocket costs of such
audit. Tenant's rent shall be approximately adjusted to reflect any
overstatement in Operating Expenses. In the event of a dispute between
Landlord and
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Tenant regarding such audit, such dispute shall be submitted and resolved
by binding arbitration pursuant to the provisions of Article III of the
Work Letter attached to this Amendment. All of the information obtained by
Tenant and/or its auditor in connection with such audit, including, without
limitation, any photo copies of any of Landlord's general ledger of
expenses obtained by Tenant, as well as any compromise, settlement, or
adjustment reached between Landlord and Tenant as a result thereof, shall
be held in strict confidence and, except as may be required pursuant to
litigation, shall not be disclosed to any third party, directly or
indirectly, by Tenant or its auditor or any of their officers, agents or
employers. Landlord may require Tenant's auditor to execute a separate
confidentiality agreement affirming the foregoing as a condition precedent
to any audit. In the event of a violation of this confidentiality covenant
in connection with any audit, then in addition to any other legal or
equitable remedy available to Landlord, Tenant shall forfeit its right to
any reconciliation or cost reimbursement payment from Landlord due to said
audit (and any such payment theretofore made by and Landlord shall be
promptly returned by Tenant), and Tenant shall have no further audit rights
under this Lease."
D. SECURITY DEPOSIT/LETTER OF CREDIT. Section 4.3 of this Lease entitled
"Security Deposit" shall be deleted in its entirety following the crediting of
the Security Deposit currently being held by Landlord against the installments
of Basic Rent next coming due under the Lease (as more particularly provided in
Section III. A.3 of this Amendment). In addition, the following provisions are
hereby added to the Lease as Section 4.4 entitled "Letter of Credit:"
"SECTION 4.4. LETTER OF CREDIT. Tenant shall deliver to Landlord,
concurrently with Tenant's execution of this Amendment, an irrevocable
stand-by letter of credit in the amount of Fifty-Eight Thousand Five
Hundred Forty-five Dollars ($58,545.00). Said letter of credit shall be in
form and with the substance of Exhibit F attached hereto, and issued by a
financial institution which is acceptable to Landlord. Upon any "Event of
Default" by Tenant beyond any applicable notice and cure period, Landlord
shall be entitled to draw upon said letter of credit by the issuance of
Landlord's sole written demand to the issuing financial institution, which
draw shall be in an amount necessary to cure the default in question and to
compensate Landlord for all damages incurred thereby, as determined by
Landlord in its sole and absolute discretion, and if such amount cannot be
readily determined by Landlord, then the full amount of the letter of
credit can be drawn by Landlord pending determination of said amount.
Notwithstanding the foregoing, while the amount of any such draw shall be
determined in Landlord's sole and absolute discretion as provided in the
foregoing, if the amount of any such draw(s) shall ultimately exceed the
amount of damages actually incurred by Landlord as the result of Tenant's
default (as determined pursuant to the applicable provisions of Article XIV
of this Lease), then Landlord shall promptly refund any such excess to
Tenant. Any such draw shall be without waiver or any rights Landlord may
have under this Lease or at law or in equity as a result of the default, as
a setoff for full or partial compensation for the default. If any portion
of the letter of credit is drawn after a default by Tenant, Tenant shall
within ten (10) days after written demand by Landlord restore the letter of
credit. Failure to so restore said letter of credit within said ten (10)
days shall be a default by Tenant under this Lease. Partial drawings upon
said letter of credit shall be permitted. The letter of credit shall
provide for automatic annual renewals through that date which is sixty (60)
days after the Expiration Date of the Term of this Lease (including any
extensions of the Term as provided in this Lease). In the event the letter
of credit is not renewed by the issuing financial institution on or before
twenty (20) days prior to the then-scheduled expiration date of the letter
of credit, then Landlord shall have the right to draw the full amount of
such letter of credit and to hold such amount as cash security for Tenant's
full and faithful performance of its obligations under the Lease. In the
event of a draw down of the letter of credit to cash security as provided
in the foregoing, the following shall apply: (i) upon any default by
Tenant, including specifically Tenant's failure to pay rent or to abide by
its obligations under Sections 7.1 and 15.3 below, Landlord may retain, use
or apply the whole or any part of such cash security to pay any sum which
Tenant is obligated to pay under this Lease, sums that Landlord may spend
or be required to expend by reason of the default by Tenant or any loss or
damage that Landlord may suffer by reason of such default or costs incurred
by Landlord in connection with the repair or restoration of the Premises
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pursuant to Section 15.3 upon expiration or earlier termination of this
Lease, (ii) Landlord shall not be required to keep the cash security
separate from its general funds and Tenant shall not be entitled to
interest on such cash security, and (iii) if Tenant fully performs its
obligations under this Lease, the cash security shall be returned to Tenant
(or, at Landlord's option, to the last assignee of Tenant's interest under
the Lease) within thirty (30) days after the expiration of the Term,
provided that Tenant agrees that Landlord may retain the cash security to
the extent and until such time as all amounts due from Tenant in accordance
with this Lease have been determined and paid in full and Tenant agrees
that Tenant shall have no claim against Landlord for Landlord's retaining
the cash security to the extent provided in the foregoing.
Upon any default by Tenant, including specifically Tenant's failure to
pay rent or to abide by its obligations under Sections 7.1 and 15.3 below,
and Tenant's failure to cure the same within any applicable cure period,
Landlord shall be entitled to draw upon said letter of credit by the
issuance of Landlord's sole written demand to the issuing financial
institution, which draw shall be in an amount necessary to cure the default
in question and to compensate Landlord for all damages incurred thereby, as
determined by Landlord in its sole and absolute discretion, and if such
amount cannot be readily determined by Landlord, then the full amount of
the letter of credit can be drawn by Landlord pending determination of said
amount. Any such draw shall be without waiver or any rights Landlord may
have under this Lease or at law or in equity as a result of the default, as
a setoff for full or partial compensation for the default. If any portion
of the letter of credit is drawn after a default by Tenant, Tenant shall
within ten (10) days after written demand by Landlord restore the letter of
credit. Failure to so restore said letter of credit within said ten (10)
days shall be a default by Tenant under this Lease. Partial drawings upon
said letter of credit shall be permitted."
E. UTILITIES AND SERVICES. The following provisions are hereby added to the
end of the initial paragraph of Section 6.1 of the Lease entitled "Utilities and
Services:"
"Tenant shall also pay to Landlord as an item of additional rent,
within ten (10) days after receipt of Landlord's statement or invoice
therefor, the charges set forth below (which shall be in addition to the
electricity charge paid to the utility provider) for Tenant's "after hours"
usage of each HVAC unit servicing the Premises. "After hours" shall mean
more than two hundred eighty-three (283) hours of usage during any month
during the Term. "After hours" usage shall be determined based upon the
operation of the applicable HVAC unit during each month on a
"non-cumulative" basis (that is, without regard to Tenant's usage or
nonusage of other unit(s) serving the Premises, or of the applicable unit
during other months of the Term). Landlord and Tenant agree that the "after
hours" charges during the Term of this Lease as extended through July 31,
2010 shall be Five Dollars ($5.00) to Ten Dollars ($10.00) per "after hour"
of use, depending on the size of the applicable HVAC unit."
F. MAINTENANCE AND REPAIR. Sections 7.1 and 7.2 of the Lease are hereby
amended to provide that Landlord shall replace, maintain and repair, as a
"Project Cost," all heating, ventilating and air conditioning systems servicing
the Premises (except for any supplemental HVAC system(s), if any, installed by
Tenant and servicing only the Premises), and that Landlord shall maintain in
good repair, as a "Project Cost", all Building exterior glass. The cost of any
"capitalized" improvements or replacements shall be amortized using a market
cost of funds as reasonable determined by Landlord over the useful life thereof,
and such amortized amount shall be included as part of "Project Costs" over the
remainder of the Term of this Lease.
G. TENANT IMPROVEMENTS. Landlord hereby agrees to complete the Tenant
Improvements for the Premises in accordance with the provisions of Exhibit X,
Work Letter, attached hereto.
IV. GENERAL.
A. EFFECT OF AMENDMENTS. The Lease shall remain in full force and effect
except to the extent that it is modified by this Amendment.
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B. ENTIRE AGREEMENT. This Amendment embodies the entire understanding
between Landlord and Tenant with respect to the modifications set forth in "III.
MODIFICATIONS" above and can be changed only by a writing signed by Landlord and
Tenant.
C. COUNTERPARTS. If this Amendment is executed in counterparts, each is
hereby declared to be an original; all, however, shall constitute but one and
the same amendment. In any action or proceeding, any photographic, photostatic,
or other copy of this Amendment may be introduced into evidence without
foundation.
D. DEFINED TERMS. All words commencing with initial capital letters in this
Amendment and defined in the Lease shall have the same meaning in this Amendment
as in the Lease, unless they are otherwise defined in this Amendment.
E. CORPORATE AND PARTNERSHIP AUTHORITY. If Tenant is a corporation or
partnership, or is comprised of either or both of them, each individual
executing this Amendment for the corporation or partnership represents that he
or she is duly authorized to execute and deliver this Amendment on behalf of the
corporation or partnership and that this Amendment is binding upon the
corporation or partnership in accordance with its terms.
F. ATTORNEYS' FEES. The provisions of the Lease respecting payment of
attorneys' fees shall also apply to this Amendment.
V. EXECUTION.
Landlord and Tenant executed this Amendment on the date as set forth in
"I.PARTIES AND DATE." above.
LANDLORD: TENANT:
IRVINE TECHNOLOGY PARTNERS III, LANTRONIX, INC. WHICH WILL
a California general partnership DO BUSINESS IN CALIFORNIA AS
DELAWARE LANTRONIX, INC.,
By: THE IRVINE COMPANY a Delaware corporation
Its General Partner
By /s/ Xxxxxx X. Case By /s/ Xxxxx X. Xxxxxxxx
--------------------------------- --------------------------------
Xxxxxx X. Case, Senior Vice President Xxxxx X. Xxxxxxxx
Leasing, Office Properties CFO
By /s/ Xxxxxxxxxxx X. Xxxxx By /s/ Xxxxxxxxx XxXxxxxxx
--------------------------------- --------------------------------
Xxxxxxxxxxx X. Xxxxx, Vice President Xxxxxxxxx XxXxxxxxx
Operations, Office Properties VP Finance - Secretary
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EXHIBIT F
IRREVOCABLE STANDBY LETTER OF CREDIT
________ Number:
________ Date:
________ Amount:
________ Expiration:
BENEFICIARY ACCOUNT
PARTY
The Irvine Company
_______________
000 Xxxxxxx Xxxxxx Xxxxx _____________
Xxxxxxx Xxxxx, XX 00000 _____________
Attn: Senior Vice President, Operations
Office Properties
We hereby issue our Irrevocable Letter of Credit No. ___________ in favor of The
Irvine Company, and its successors and assigns for the account of ____________.
We undertake to honor your draft or drafts, delivered to us from time to time,
for any sum or sums not to exceed a total of _____________ ($_________) in favor
of said beneficiary when accompanied by the draft described below and a letter
from an officer of The Irvine Company or such successor or assign that states as
follows: "The "Landlord" under the Lease pursuant to which this letter of credit
was issued is authorized to draw upon this Letter of Credit in the amount of the
accompanying draft according to the terms of its lease agreement with the
Account Party as "Tenant"."
It is a condition of this letter of credit that it shall remain enforceable
against us for a period of ______________ from this date and further, that it
shall be deemed automatically extended for successive one-year periods without
amendment thereafter unless thirty (30) days prior to the expiration date set
forth above, or within thirty (30) days prior to the end of any yearly
Anniversary Date thereafter, you shall receive our notice in writing by
certified mail, return receipt requested, that we elect not to renew this letter
of credit for any subsequent year. We shall reissue this letter of credit to a
new party which is a successor or assign upon written request by The Irvine
Company or such successor or assign accompanied by a certificate that the Lease
pursuant to which this letter of credit was issued was assigned to such party.
The draft must be marked "Drawn under ___________ Letter of Credit No.
____________ dated ________________."
There are no other conditions of this letter of credit. Except so far as
otherwise stated, this credit is subject to the Uniform Customs and Practice for
Documentary Credits (1993 Revision, International Chamber of Commerce,
Publication No. 500).
________________________________
________________________________
By: _______________________
By: _______________________
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EXHIBIT X
WORK LETTER
BUILD TO SUIT
The tenant improvement work (the "TENANT IMPROVEMENT" and the "TENANT
IMPROVEMENTS WORK") shall consist of the work, including work in place as of the
date hereof, required to complete the improvements to the Premises as shown in
the space plan (the "PLAN") prepared by Casco Contractors, dated January 6,
2005, and the cost estimate (the "COST ESTIMATE") prepared by Casco Contractors,
dated January 12, 2005. Copies of the Plan and the Cost Estimate are attached as
Exhibits X-1 and X-2 hereto, respectively. The Tenant Improvement Work shall be
performed by a contractor selected by Landlord and in accordance with the
requirements and procedures set forth below.
1. ARCHITECTURAL AND CONSTRUCTION PROCEDURES.
A. Landlord shall cause its contractor to construct the Tenant Improvements
at Landlord's sole cost and expense. Any additional cost resulting from Changes
(as hereinafter defined) requested by Tenant shall be borne solely by Tenant and
paid to Landlord as hereinafter provided. Unless otherwise specified in the Plan
or Cost Estimate, all materials, specifications and finishes utilized in
constructing the Tenant Improvements shall be Landlord's building standard
tenant improvements, materials and specifications for the Project ("Standard
Improvements"). Should Landlord submit any additional plans, equipment
specification sheets, or other matters to Tenant for approval or completion in
connection with the Tenant Improvement Work, Tenant shall respond in writing, as
appropriate, within five (5) days unless a shorter period is provided herein.
Tenant shall not unreasonably withhold its approval of any matter, and any
disapproval shall be limited to items not previously approved by Tenant in the
Plan or otherwise
B. In the event that Tenant requests in writing a revision to the Plan
("Change"), and Landlord so approves such Change as provided in Section I.C
below, Landlord shall advise Tenant by written change order as soon as is
practical of any increase in the cost to complete the Tenant Improvement Work.
Tenant shall approve or disapprove such change order, if any, in writing within
two (2) business days following Tenant's receipt of such change order. If Tenant
approves any such change order, Landlord, at its election, may either (i)
require as a condition to the effectiveness of such change order that Tenant pay
the increase in the cost to complete attributable to such change order
concurrently with delivery of Tenant's approval of the change order, or (ii)
defer Tenant's payment of such increase until the date ten (10) days after
delivery of invoices for same. If Tenant disapproves any such change order,
Tenant shall nonetheless be responsible for the reasonable architectural and/or
planning fees incurred in preparing such change order. Landlord shall have no
obligation to interrupt or modify the Tenant Improvement Work pending Tenant's
approval of a change order, but if Tenant fails to timely approve a change
order, Landlord may (but shall not be required to) suspend the applicable Tenant
Improvement Work.
C. Landlord may consent in writing, in its reasonable discretion, to
Tenant's request for a Change, including any modification of a Standard
Improvement in the Plan to a non-standard improvement ("NON-STANDARD
IMPROVEMENT"), if requested in writing by Tenant. In addition, Landlord agrees
that it shall not unreasonably withhold its consent to Tenant's requested
Changes to previously approved Non-Standard Improvements. Notwithstanding the
provisions of the foregoing two (2) sentences, Landlord may withhold its consent
to any Change to a Non-Standard Improvement in the Plan if Landlord determines
in good faith that such requested Non-Standard Improvement: (i) is of a lesser
quality than the corresponding improvement previously approved by Landlord, (ii)
fails to conform to applicable governmental requirements, (iii) would result in
the Premises requiring building services beyond the level normally provided to
other tenants, (iv) interferes in any manner with the proper functioning of, or
Landlord's access to, any mechanical, electrical, plumbing or HVAC systems,
facilities or equipment in or serving the Building, or (v) would have an adverse
aesthetic impact to the Premises or cause additional expenses to Landlord in
reletting the Premises. Unless Landlord otherwise agrees in writing, in its
reasonable discretion, the cost to complete any Non-Standard Improvements shall
be borne by Tenant. All Standard Improvements and Non-Standard Improvements
shall become the property of Landlord and shall be surrendered with the Premises
at the end of the Term; except that Landlord may, by notice to Tenant given at
the time of Landlord's approval of the applicable Non-Standard Improvement,
require Tenant either to remove all or any of such Non-Standard Improvement, to
repair any damage to the Premises or the Common Area arising from such removal,
and to replace such Non-Standard Improvement with the applicable Standard
Improvement, or to reimburse Landlord for the reasonable cost of such removal,
repair and replacement upon demand. Any such removals, repairs and replacements
by Tenant shall be completed by the Expiration Date or sooner termination of
this Lease.
D. Tenant hereby designates Xxx Xxxxxx ("TENANT'S CONSTRUCTION
REPRESENTATIVE"), Telephone No. (000) 000-0000, as its representative, agent and
attorney-in-fact for all matters related to the Tenant
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Improvement Work, including but not by way of limitation, for purposes of
receiving notices, approving submittals and issuing requests for Changes, and
Landlord shall be entitled to rely upon authorizations and directives of such
person(s) as if given directly by Tenant. The foregoing authorization is
intended to provide assurance to Landlord that it may rely upon the directives
and decision making of the Tenant's Construction Representative with respect to
the Tenant Improvement Work and is not intended to limit or reduce Landlord's
right to reasonably rely upon any decisions or directives given by other
officers or representatives of Tenant. Tenant may amend the designation of its
Tenant's Construction Representative(s) at any time upon delivery of written
notice to Landlord.
E. It is understood that the foregoing Tenant Improvements shall be done
during Tenant's occupancy of the Premises and, in this regard, Tenant agrees to
assume any risk of injury, loss or damage which may result, except to the extent
caused by the gross negligence or willful misconduct of Landlord, its authorized
agents or contractors. Tenant further agrees that it shall be solely responsible
for relocating its office equipment and furniture in the Premises in order for
the foregoing Tenant Improvements to be completed in the Premises, and that no
rental abatement shall result while the foregoing Tenant Improvements are
completed in the Premises. It is further understood and agreed that the Tenant
Improvements shall be scheduled and shall be substantially completed not later
than December 31, 2005 to be eligible for funding by Landlord, and that Landlord
shall not be obligated to fund any Tenant Improvements commenced after such
date.
II. TENANT IMPROVEMENT ALLOWANCE.
In addition to performing the Tenant Improvement Work as defined in this
Work Letter, Landlord shall also provide Tenant with a tenant improvement
allowance in the amount of One Hundred Two Thousand Three Hundred Fifty-Two
Dollars ($102,352.00) ("Landlord's Amortizing Contribution") towards the cost
related to installing certain Non-Standard upgraded carpet tiles and the cost of
relocating and re-installing Tenants furniture in connection with such carpet
installation (as itemized as "Alternate A" in the Cost Estimate) (the
"Amortizing Improvements"). Any portion of the Landlord's Amortizing
Contribution funded by Landlord shall be amortized over the sixty (60) month
Term of the Lease as extended by this Amendment using an interest factor of ten
percent (10%) per annum, and the Basic Rent payable during the initial sixty
(60) months of the Lease as extended by this Amendment shall be increased by
said amortized payments, retroactive to August 1, 2005. Upon request by
Landlord, the amount of such rental adjustment shall be memorialized on a form
provided by Landlord. In the event that the amount of the rental adjustment is
finally determined, Tenant shall promptly pay to Landlord a lump sum amount
equal to the total accrued sums owing due to the retroactive adjustment. It is
further understood and agreed that the Amortizing Improvements shall be
scheduled and shall be substantially completed not later than December 31, 2005
to be eligible for funding by the Landlord's Amortizing Contribution, and that
Landlord shall not be obligated to fund any portion of the Landlord's Amortizing
Contribution for Amortizing Improvements commenced after such date.
III. DISPUTE RESOLUTION
A. All claims or disputes between Landlord and Tenant arising out of, or
relating to, this Work Letter shall be decided by the JAMS/ENDISPUTE ("JAMS"),
or its successor, with such arbitration to be held in Orange County, California,
unless the parties mutually agree otherwise. Within ten (10) business days
following submission to JAMS, JAMS shall designate three arbitrators and each
party may, within five (5) business days thereafter, veto one of the three
persons so designated. If two different designated arbitrators have been vetoed,
the third arbitrator shall hear and decide the matter. If less than two (2)
arbitrators are timely vetoed, JAMS shall select a single arbitrator from the
non-vetoed arbitrators originally designated by JAMS, who shall hear and decide
the matter. Any arbitration pursuant to this section shall be decided within
thirty (30) days of submission to JAMS. The decision of the arbitrator shall be
final and binding on the parties. All costs associated with the arbitration
shall be awarded to the prevailing party as determined by the arbitrator.
B. Notice of the demand for arbitration by either party to the Work Letter
shall be filed in writing with the other party to the Work Letter and with JAMS
and shall be made within a reasonable time after the dispute has arisen. The
award rendered by the arbitrator shall be final, and judgment may be entered
upon it in accordance with applicable law in any court having jurisdiction
thereof. Except by written consent of the person or entity sought to be joined,
no arbitration arising out of or relating to this Work Letter shall include, by
consolidation, joinder or in any other manner, any person or entity not a party
to the Work Letter unless (1) such person or entity is substantially involved in
a common question of fact or law, (2) the presence of such person or entity is
required if complete relief is to be accorded in the arbitration, or (3) the
interest or responsibility of such person or entity in the matter is not
insubstantial.
C. The agreement herein among the parties to arbitrate shall be
specifically enforceable under prevailing law. The agreement to arbitrate
hereunder shall apply only to disputes arising out of, or relating to, this
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Work Letter, and shall not apply to other matters of dispute under the Lease
except as may be expressly provided in the Lease.
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EXHIBIT X-1
[diagram of floor plan here]
[Floor 1]
Xxxxxxxxx
00000 Xxxxxxxx
Irvine Technology Building 11, Floor 1
Xxxxxx, XX 00000
Issued: January 6, 2005
[diagram of floor plan here]
[Floor 2]
Xxxxxxxxx
00000 Xxxxxxxx
Irvine Technology Building 11, Floor 2
Xxxxxx, XX 00000
Issued: January 6, 2005
[Legend to floor plans above]
EXHIBIT X-2
THE IRVINE COMPANY PRELIMINARY PRICING #: 5
-----------------------------------------------------------------------------------------------------------------------------
PROJECT: Lantronix PRICING DATE: 1/12/2004
00000 Xxxxxxxx
Xxxxxx, XX 00000 PROJECT NO:
CONTRACTOR: CASCO Contractors, Inc. MASTER CONTRACT DATE: 7/1/2004
18 Technology, Xxxxx 000
Xxxxxx, XX 00000 CONSTRUCTION MANAGER: Xxxxx Xxxxxxx / Xxxxx Xxxxx
PROJECT MGR: Xxxxxx Xxxxxx USEABLE SQUARE FOOTAGE: 51,176
ARCHITECT: CASCO RENTABLE SQUARE FOOTAGE: 51,176
PLAN DATE: ADDENDUM #1 DATED: --
ADDENDUM #2 DATED: --
DESCRIPTION STANDARD /USF NON-STANDARD /USF TOTAL COST /USF
--------------------------------------------------------------------------------------------------------------------------
TOTAL PROJECT HARD COSTS: $181,914.38 $ 3.55 $ 12,995.82 $ 0.25 $194,910.20 $ 3.81
TOTAL PROJECT SOFT COSTS: $ 800.00 $ 0.02 $ -- $ -- $ 800.00 $ 0.02
CM FEE @ 5%: $ 9,135.72 $ 0.18 $ 649.79 $ 0.01 $ 9,785.51 $ 0.19
CONTINGENCY @ 5%: $ 9,135.72 $ 0.18 $ 649.79 $ 0.01 $ 9,785.51 $ 0.19
TOTAL PROJECT COST: $200,985.82 $ 3.93 $ 14,295.40 $ 0.28 $215,281.22 $ 4.21
============ ======= ============ ======= ============ =======
LANDLORD PROVIDED ALLOWANCE: $ $ -- $ $ --
VARIANCE/CUSTOMER COST: $200,985.82 $ 3.93 $ 14,295.40 $ 0.28
============ ======= ============ ======= ============ =======
TOTAL ALTERNATE COST: $ 97,569.98 $ 1.91 $ 97,569.98 $ 1.91
Please note: alternates are listed separately on page 3 and are not included in the Total Project Cost above
asap 10 weeks
------------------------------- ------------------------------------
ESTIMATED START DATE SUBSTANTIAL COMPLETION DATE
--------------------------------------------------------------------------------------------------------------------------
Not valid until fully executed by all parties listed below.
Signature of this Bid Summary Document indicates your agreement herewith, including all terms and conditions included in
the Lease and Workletter.
--------------------------------------------------------------------------------------------------------------------------
==========================================================================================================================
APPROVALS
Construction Manager Review: X
-----------------
------------------------------------------ -----------------------------------------------
Lantronix The Irvine Company
------------------------------------------ -----------------------------------------------
Xxxxxx, XX 00000, 000 Xxxxxxxxxx Xxxxx, Xxxxxx, XX 00000
------------------------------------------ -----------------------------------------------
AMOUNT APPROVED $215,281.22 AMOUNT APPROVED $14,295.40
----------- -----------
CAPITAL ALTERNATES $ --
-----------
X X
------------------------------------------ -----------------------------------------------
Customer DATE Leasing DATE
------------------------------------------ -----------------------------------------------
X
-----------------------------------------------
VP - Property Services or Operations DATE
-----------------------------------------------
Lantronix Preliminary--1/4/2005 Page 1 of 3
----------------------------------------------------------------------------------------------------------------------------
HARD COST BREAKDOWN: STANDARD /USF NONSTANDARD /USF TOTAL COST /USF
----------------------------------------------------------------------------------------------------------------------------
01400 Cleaning & Protection: $ 4,394.60 $0.09 $ -- $ -- $ 4,394.60 $0.09
02050 Demolition: $ 18,292.40 $0.36 $ -- $ -- $ 18,292.40 $0.36
02500 Landscaping: $ -- $ -- $ -- $ -- $ -- $ --
02830 Fences & Gates: $ -- $ -- $ -- $ -- $ -- $ --
02950 Paving & Surfacing: $ -- $ -- $ -- $ -- $ -- $ --
03300 Concrete: $ -- $ -- $ -- $ -- $ -- $ --
05500 Metal Fabrication: $ -- $ -- $ -- $ -- $ -- $ --
06100 Rough Carpentry: $ -- $ -- $ -- $ -- $ -- $ --
06200 Millwork: $ -- $ -- $ -- $ -- $ -- $ --
07200 Thermal Insulation: $ -- $ -- $ -- $ -- $ -- $ --
07700 Roofing: $ -- $ -- $ -- $ -- $ -- $ --
08200 Doors, Frames, & Hardware: $ -- $ -- $ -- $ -- $ -- $ --
08400 Entrances & Storefronts: $ 2,870.00 $0.06 $ -- $ -- $ 2,870.00 $0.06
08800 Glass & Glazing: $ -- $ -- $ -- $ -- $ -- $ --
09200 Gypsum Board Partitions: $ 3,468.00 $0.07 $ -- $ -- $ 3,468.00 $0.07
09300 Stone & Ceramic Tile: $ 31,920.00 $0.62 $ -- $ -- $ 31,920.00 $0.62
09500 Acoustical Ceilings: $ -- $ -- $ -- $ -- $ -- $ --
09600 Floor Covering: $ 65,232.69 $1.27 $ 8,482.25 $0.17 $ 73,714.94 $1.44
09900 Paint & Wallcovering: $ 24,502.50 $0.48 $ 3,300.00 $0.06 $ 27,802.50 $0.54
10270 Access Flooring: $ -- $ -- $ -- $ -- $ -- $ --
10400 Misc. Equipment & Specialties: $ -- $ -- $ -- $ -- $ -- $ --
10520 Fire Protection Specialties: $ -- $ -- $ -- $ -- $ -- $ --
10800 Toilet Accessories: $ 6,255.00 $0.12 $ -- $ -- $ 6,255.00 $0.12
12500 Window Treatment: $ -- $ -- $ -- $ -- $ $
15000 Fire Protection: $ -- $ -- $ -- $ -- $ $
15400 Plumbing: $ 2,688.00 $0.05 $ -- $ -- $ 2,688.00 $0.05
15500 Mechanical: $ -- $ -- $ -- $ -- $ -- $ --
15900 HVAC Controls: $ -- $ -- $ -- $ -- $ -- $ --
16000 Electrical: $ -- $ -- $ -- $ -- $ -- $ --
16720 Fire Life Safety: $ -- $ -- $ -- $ -- $ -- $ --
00001 $ -- $ -- $ -- $ -- $ -- $ --
00002 $ -- $ -- $ -- $ -- $ -- $ --
------------ ------ ----------- ------ ------------ ------
SUBTOTAL: $159,623.19 $3.12 $11,782.25 $0.23 $171,405.44 $3.35
============ ====== =========== ====== ============ ======
General Conditions $ 14,150.41 $0.28 $ 612.68 $0.01 $ 14,763.08 $0.29
Fee $ 8,140.78 $0.16 $ 600.89 $0.01 $ 8,741.68 $0.17
------------ ------ ----------- ------ ------------ ------
SUBTOTAL GENERAL
01000 CONDITIONS & FEE: $ 22,291.19 $0.44 $ 1,213.57 $0.02 $ 23,504.76 $0.46
============ ====== =========== ====== ============ ======
TOTAL THIS CATEGORY: $181,914.38 $3.55 $12,995.82 $0.25 $194,910.20 $3.81
============ ====== =========== ====== ============ ======
----------------------------------------------------------------------------------------------------------------------------
SOFT COST BREAKDOWN: STANDARD /USF NONSTANDARD /USF TOTAL COST /USF
----------------------------------------------------------------------------------------------------------------------------
Space Planning: $ 800.00 $0.02 $ -- $ -- $ 800.00 $0.02
Construction Drawings: $ -- $ -- $ -- $ -- $ -- $ --
Construction Administration: $ -- $ -- $ -- $ -- $ -- $ --
Mechanical Engineering: $ -- $ -- $ -- $ -- $ -- $ --
Electrical Engineering: $ -- $ -- $ -- $ -- $ -- $ --
Structural Engineering: $ -- $ -- $ -- $ -- $ -- $ --
Reimbursables: $ -- $ -- $ -- $ -- $ -- $ --
City Plancheck: $ -- $ -- $ -- $ -- $ -- $ --
City Permit: $ -- $ -- $ -- $ -- $ -- $ --
TOTAL THIS CATEGORY: $ 800.00 $0.02 $ -- $ -- $ 800.00 $0.02
------------ ------ ----------- ------ ------------ ------
CONSTRUCTION M'GMT FEE @ 5%: $ 9,135.72 $0.18 $ 649.79 $0.01 $ 9,785.51 $0.19
------------ ------ ----------- ------ ------------ ------
CONTINGENCY @ 5%: $ 9,135.72 $0.18 $ 649.79 $0.01 $ 9,785.51 $0.19
------------ ------ ----------- ------ ------------ ------
TOTAL BID SUMMARY AMOUNT: $200,985.82 $3.93 $14,295.40 $0.28 $215,281.22 $4.21
============ ====== =========== ====== ============ ======
Lantronix Preliminary--1/4/2005 Page 2 of 3
--------------------------------------------------------------------------------------------------------------
ALTERNATES (not included in the above totals): NONSTANDARD /USF TOTAL COST /USF
--------------------------------------------------------------------------------------------------------------
A Furnish and install carpet tiles
at open office area only
and move all private offices $97,569.98 $1.91 $97,569.98 $1.91
B $ -- $ -- $ -- $ --
C $ -- $ -- $ -- $ --
D $ -- $ -- $ -- $ --
E $ -- $ -- $ -- $ --
F $ -- $ -- $ -- $ --
G $ -- $ -- $ -- $ --
H $ -- $ -- $ -- $ --
I $ -- $ -- $ -- $ --
J $ -- $ -- $ -- $ --
K $ -- $ -- $ -- $ --
L $ -- $ -- $ -- $ --
M $ -- $ -- $ -- $ --
N $ -- $ -- $ -- $ --
O $ -- $ -- $ -- $ --
P $ -- $ -- $ -- $ --
Q $ -- $ -- $ -- $ --
R $ -- $ -- $ -- $ --
S $ -- $ -- $ -- $ --
T $ -- $ -- $ -- $ --
$ -- $ -- $ -- $ --
----------- ------ ----------- ------
TOTAL THIS CATEGORY: $97,569.98 $1.91 $97,569.98 $1.91
=========== ====== =========== ======
--------------------------------------------------------------------------------------------------------------
CAPITAL ALTERNATES (not included in the above totals): NONSTANDARD /USF TOTAL COST /USF
--------------------------------------------------------------------------------------------------------------
A $ -- $ -- $ -- $ --
B $ -- $ -- $ -- $ --
C $ -- $ -- $ -- $ --
D $ -- $ -- $ -- $ --
E $ -- $ -- $ -- $ --
F $ -- $ -- $ -- $ --
G $ -- $ -- $ -- $ --
H $ -- $ -- $ -- $ --
I $ -- $ -- $ -- $ --
J $ -- $ -- $ -- $ --
----------- ------ ----------- ------
TOTAL THIS CATEGORY: $ -- $ -- $ -- $ --
=========== ====== =========== ======
-------------------------------------------------------------------------------------------------------------
QUALIFICATIONS AND UNDERSTANDINGS:
-------------------------------------------------------------------------------------------------------------
Acid washing of the floor will not be successful. The only option is to replace the
ceramic tile in all bathrooms which is included in my bid.
Lantronix will be responsible for:
Supplying all boxes
Packing and unpacking of all boxes
Disconnecting, loading on computer cart, unloading off computer cart, and reconnecting all computers
Handling all specialized product
Having a project manager available for any questions or problems.
-------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------
EXCLUSIONS:
-------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------
Xxxxxxxxx Xxxxxxxxxxx--0/0/0000 Page 3 of 3
PORTFOLIO UNIT PRICING
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
UNIT STANDARD STANDARD NONSTANDARD NONSTANDARD
01000 - GENERAL CONDITIONS & FEE PLAN QTY MEA UNIT PRICE EXTENSION /USF NONSTANDARD EXTENSION /USF
------------------------------------------------------------------------------------------------------------------------------------
Projects $0 to $200,000
General Conditions
($125,001 - $200,000) 171,405 % 5.20% $ 8,300.41 $0.16 $612.68 $ 612.68 $0.01
Contractors Fee ($0 -
$200,000 - not billed
on general conditions) 171,405 % 5.10% $ 8,140.78 $0.16 $600.89 $ 600.89 $0.01
Field Supervision per Week
(includes below items) 3 wk $1,950.00 $ 5,850.00 $0.11 -- --
----------- ------ ----- ---------- ------
General Conditions: $14,150.41 $0.28 0.05 $ 612.68 $0.01
----------- ------ ----- ---------- ------
Fees: $ 8,140.78 $0.16 5.10% $ 600.89 $0.01
----------- ------ ----- ---------- ------
SUBSECTION TOTALS: $22,291.19 $0.44 $1,213.57 $0.02
=========== ====== ========== ======
------------------------------------------------------------------------------------------------------------------------------------
UNIT STANDARD STANDARD NONSTANDARD NONSTANDARD
01400 - CLEANING & PROTECTION PLAN QTY MEA UNIT PRICE EXTENSION /USF NONSTANDARD EXTENSION /USF
------------------------------------------------------------------------------------------------------------------------------------
Final Clean-up 39,780 sf $ 0.07 $ 2,784.60 $0.05 -- --
Dumpster - 40 yard 2 ea $265.00 $ 530.00 $0.01 -- --
Laborers (per hour) 48 hr $ 22.50 $ 1,080.00 $0.02 -- --
----------- ------ ---------- ------
ADDITIONAL ITEMS:
SUBSECTION TOTALS: $ 4,394.60 $0.09 -- --
=========== ====== ========== ======
------------------------------------------------------------------------------------------------------------------------------------
UNIT STANDARD STANDARD NONSTANDARD NONSTANDARD
02050 - DEMOLITION PLAN QTY MEA UNIT PRICE EXTENSION /USF NONSTANDARD EXTENSION /USF
------------------------------------------------------------------------------------------------------------------------------------
Remove carpet w/ pad & base
under 2500 sf. 38,565 sf $ 0.16 $ 6,170.40 $0.12 -- --
Remove ceramic tile/stone
(thinset) 3,840 sf $ 1.80 $ 6,912.00 $0.14 -- --
Haul-Away 12 ea $365.00 $ 4,380.00 $0.09 -- --
Minimum Trip Charge 2 ls $415.00 $ 830.00 $0.02 -- --
ADDITIONAL ITEMS:
----------- ------ ---------- ------
SUBSECTION TOTALS: $18,292.40 $0.36 -- --
=========== ====== ========== ======
Lantronix Preliminary--1/4/2005 Page 1 of 4
------------------------------------------------------------------------------------------------------------------------------------
UNIT STANDARD STANDARD NONSTANDARD NONSTANDARD
08400 - ENTRANCES & STOREFRONTS PLAN QTY MEA UNIT PRICE EXTENSION /USF NONSTANDARD EXTENSION /USF
------------------------------------------------------------------------------------------------------------------------------------
ADDITIONAL ITEMS:
Remove existing storefront
doors and replace
floor closers on
off hours 1 ls $2,870.00 $ 2,870.00 $0.06 -- --
----------- ------ ---------- ------
SUBSECTION TOTALS: $ 2,870.00 $0.06 -- --
=========== ====== ========== ======
------------------------------------------------------------------------------------------------------------------------------------
UNIT STANDARD STANDARD NONSTANDARD NONSTANDARD
09200 - GYPSUM BOARD PARTITIONS PLAN QTY MEA UNIT PRICE EXTENSION /USF NONSTANDARD EXTENSION /USF
------------------------------------------------------------------------------------------------------------------------------------
Type 1 - (demising wall,
non-rated, 15' max)
Type 2 - (demising wall, 1 hr.
rated, insulated,
15' max)
Type 3 - (w/h demising wall,
non-rated, 30' max)
Type 4 - (w/h demising wall,
1 hr. rated, insulated,
30' max)
Type 5 - (acoustical wall,
non-rated, insulated,
15' max)
Type 6 - (under grid wall,
non-rated, 10' max)
Type 7 - (under grid wall,
non-rated, insulated,
10' max)
Type 8 - (low wall)
Type 9 - (exterior furring,
insulated)
Type 10 - (plumbing wall, under
grid, insulated, 3 5/8"
stud)
Type 11 - (plumbing wall, thru
grid, insulated, 2 1/2"
stud)
Type 12 - (plumbing wall, thru
grid, insulated, 5 1/2"
stud)
General
ADDITIONAL ITEMS:
Green board replacement at
1st floor 1 ls $3,468.00 $ 3,468.00 $0.07 -- --
----------- ------ ---------- ------
SUBSECTION TOTALS: $ 3,468.00 $0.07 -- --
=========== ====== ========== ======
------------------------------------------------------------------------------------------------------------------------------------
UNIT STANDARD STANDARD NONSTANDARD NONSTANDARD
09300 - STONE & CERAMIC TILE PLAN QTY MEA UNIT PRICE EXTENSION /USF NONSTANDARD EXTENSION /USF
------------------------------------------------------------------------------------------------------------------------------------
ADDITIONAL ITEMS:
New ceramic tile at 1st and
2nd floor mens and
womens restrooms off
hours 4 ea $7,980.00 $31,920.00 $0.62 -- --
----------- ------ ---------- ------
SUBSECTION TOTALS: $31,920.00 $0.62 -- --
=========== ====== ========== ======
Lantronix Preliminary--1/4/2005 Page 2 of 4
------------------------------------------------------------------------------------------------------------------------------------
UNIT STANDARD STANDARD NONSTANDARD NONSTANDARD
09600 - FLOOR COVERING PLAN QTY MEA UNIT PRICE EXTENSION /USF NONSTANDARD EXTENSION /USF
------------------------------------------------------------------------------------------------------------------------------------
Designweave New Tempest -
glue down 4,875 sy $ 10.89 $53,088.75 $1.04 -- --
Top set base - 4" w/ cove 6,639 lf $ 1.30 $ 8,630.70 $0.17 -- --
Above standard floor prep
(by sf.) 4,292 sf $ 0.47 $ 2,017.24 $0.04 -- --
2" Carpet border (adl.
labor only) 344 lf $ 2.75 $ 946.00 $0.02 -- --
Carpet staircase incl.
Hcap accent (adl.
labor only) 2 ea $275.00 $ 550.00 $0.01 -- --
ADDITIONAL ITEMS:
Off Hours work 4,847 sf $ 1.75 -- -- $ 8,482.25 $ 8,482.25 $ 0.17
----------- ------ ----------- -------
SUBSECTION TOTALS: $65,232.69 $1.27 $ 8,482.25 $ 0.17
=========== ====== =========== =======
------------------------------------------------------------------------------------------------------------------------------------
UNIT STANDARD STANDARD NONSTANDARD NONSTANDARD
09900 - PAINTING & WALLCOVERING PLAN QTY MEA UNIT PRICE EXTENSION /USF NONSTANDARD EXTENSION /USF
------------------------------------------------------------------------------------------------------------------------------------
Paint walls flat 91,478 sf $ 0.15 $13,264.31 $0.26 -- --
Paint walls semi-gloss 3,600 sf $ 0.25 $ 900.00 $0.02 -- --
Paint hardlid semi-gloss 1,227 sf $ 0.25 $ 306.75 $0.01 -- --
Paint soffits flat 50 lf $ 1.00 $ 50.00 $0.00 -- --
ADDITIONAL ITEMS:
Paint walls flat at stairway
& lobby 7,000 sf $ 0.25 $ 1,750.00 $0.03 -- --
Lift / scaffolding 1 ls $ 500.00 $ 500.00 $0.01 -- --
Remove base at walls (needs
to be done by painter
for schedule) 6,639 lf $ 0.25 $ 1,659.75 $0.03 -- --
Protections at restrooms and
vct areas to remain 9,427 sf $ 0.05 $ 471.35 $0.01 -- --
Paint reveals at soffits 36 lf $ 1.00 $ 36.00 $0.00 -- --
Miscellaneous wall patching 98,478 sf $ 0.03 $ 2,954.34 $0.06 -- --
Off hours work 1 ls $3,300.00 -- -- $ 5,000.00 $ 3,300.00 $ 0.06
Paint handrails 290 lf $ 9.00 $ 2,610.00 $0.05 -- --
----------- ------ ----------- -------
SUBSECTION TOTALS: $24,502.50 $0.48 $ 3,300.00 $ 0.06
=========== ====== =========== =======
------------------------------------------------------------------------------------------------------------------------------------
PLAN UNIT STANDARD STANDARD NONSTANDARD NONSTANDARD
10800 - TOILET & SHOWER ACCESSORIES QTY MEA UNIT PRICE EXTENSION /USF NONSTANDARD EXTENSION /USF
------------------------------------------------------------------------------------------------------------------------------------
ADDITIONAL ITEMS:
Replace damaged toilet
partitions at (2)
mens restrooms 7 ea $ 265.00 $ 1,855.00 $0.04 -- --
Remove and replace all
partitions on 2nd
floor for tile
installation 4 ea $1,100.00 $ 4,400.00 $0.09 -- --
----------- ------ ----------- -------
SUBSECTION TOTALS: $ 6,255.00 $0.12 -- --
=========== ====== =========== =======
Lantronix Preliminary--1/4/2005 Page 3 of 4
------------------------------------------------------------------------------------------------------------------------------------
UNIT STANDARD STANDARD NONSTANDARD NONSTANDARD
15400 - PLUMBING PLAN QTY MEA UNIT PRICE EXTENSION /USF NONSTANDARD EXTENSION /USF
------------------------------------------------------------------------------------------------------------------------------------
Toilet - pressure type not
including plumbing
Lavatory - wallhung not
including plumbing
Urinal - not including plumbing
Showers - not including plumbing
Sinks - not including plumbing
Drinking fountain - not
including plumbing
Plumbing safe off/disconnect
- hourly 32 hr $84.00 $ 2,688.00 $0.05 -- --
ADDITIONAL ITEMS:
----------- ------ ----------- -------
SUBSECTION TOTALS: $ 2,688.00 $0.05 -- --
=========== ====== =========== =======
Lantronix Preliminary--1/4/2005 Page 4 of 4
