Exhibit 10.7(b)
SECOND AGREEMENT TO EXTEND LEASE
This Agreement is made and entered into as of this 14th day of August, 1995,
by and between Damson/Xxxxxxxx Realty Income Fund-II, Limited Partnership
(hereinafter called "Landlord") and IOMEGA Corporation (hereinafter called
"Tenant") with respect to the following facts:
WITNESSETH:
A. Landlord and Tenant entered into a certain lease dated June 21, 1991,
(the "Original Lease") under which Landlord demised to Tenant the
Property commonly known as Building 7, consisting of approximately
70,000 square feet; and
B. Landlord and Tenant agree to modify the Original Lease pursuant to the
Agreement to Extend Lease, dated May 20, 1994 (the Original Lease, as
amended by the Agreement to Extend Lease is hereinafter referred to as
the "Lease"); and
C. Said Lease is schedule to expire by lapse of time on November 30, 1997;
and
D. Landlord and Tenant desire to amend said Lease so as to extend the Term
thereof and to establish the rents payable thereunder during such
period; and
E. It is intended by this Agreement to amend said Lease;
NOW, THEREFORE, in consideration of the Property, and of the covenants and
agreements herein set forth, it is agreed that the Lease be hereby amended
from and after the date hereof as follows:
1) Section 1.05 of the Lease, entitled Lease Term, is hereby extended for
a period of two (2) years, commencing on the last day of the initial
Term of the Lease and expiring on the 30th day of November, 1999, unless
the Lease shall sooner terminate as provided therein.
2) For the period from the first day of December, 1997, through and
including the 30th day of November, 1999, Tenant shall pay to Landlord
as Base Rent over and above the other and additional payments to be made
by Tenant for the Property, the sum of Eight Hundred Twenty-One Thousand
One Hundred and no/100 ($821,100.00) payable monthly in advance on the
first day of each and every calendar month as follows:
Period Monthly Base Rent
December 1, 1997 through and
including November 30, 1998 $33,705.00
December 1, 1998 through and
including November 30, 1999 $34,720.00
all at the place and in the manner in the Lease provided.
3) Section 3.02 of the Lease, entitled Cost of Living Increases, is hereby
deleted, and shall have no further force or effect.
4) Except as herein specifically amended, all terms, provisions, covenants,
and conditions of the Lease shall remain unchanged and in full force and
effect, and the same are hereby ratified and confirmed.
TENANT LANDLORD
IOMEGA Corporation Damson/Xxxxxxxx Realty Income
Fund-II, Limited Partnership
By: /s/ Xxxx X. Xxxxxxxxx By: Xxxxxxxx Investments
Its: Authorized Agent
Its: Senior Vice President
By: /s/ Xxxxxxx X. Xxxxx
Date: 8/25/95 Its: Senior Vice President
Date: 8/28/95