EXHIBIT 10.7
FIRST AMENDMENT TO LEASE
THIS FIRST AMENDMENT TO LEASE ("Amendment") dated July 13, 2004 for
reference purposes, is made and entered into by and between L.A.T. INVESTMENT
CORPORATION, a California corporation ("Landlord"), and COMPUMED, INC., a
Delaware corporation ("Tenant").
RECITALS
The Amendment is made with reference to the following facts and objectives:
A. Landlord and Tenant entered into a written lease dated June 24, 1999
(the "Lease") in which Landlord leased to Tenant and Tenant leased from Landlord
certain premises located at 0000 Xxxx Xxxxxxx Xxxxxxxxx, Xxxxx 0000 and 315 Xxx
Xxxxxxx, Xxxxxxxxxx 00000 (the "Premises").
B. Tenant desires to extend the Lease Term, and Landlord agrees to such
extension on and subject to the terms, covenants and conditions set forth in
this Amendment.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants set forth herein,
Landlord and Tenant do hereby amend the Lease as follows:
1. Lease Term
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The Lease Tenn shall be extended for a period of one (1) year ("Extended
Term") commencing n September 1, 2004 and expiring on August 31, 2005.
2. Rent
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The Monthly Rent for the Premises shall be $11,477.75 effective September
1,2004.
First Amendment to Lease
Compumed, Inc.
July 13,2004
Page 2
3. Excused Rent.
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Notwithstanding section 5.2 of the Lease, Landlord hereby conditionally
waives Tenant's obligation to pay one half ( ) of the Monthly Rent in months 6
and 12 for a total of two (2) months, subject to all the provisions of section
5.2 of the Lease.
RATIFICATION.
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Except as modified expressly or by necessary implication hereby, all of the
terms and conditions of the Lease shall remain unchanged and in full force and
effect. To the extent the provisions of this Amendment are inconsistent with the
provisions of the Lease, the provisions of this Amendment shall control and
supersede such inconsistent provisions in the Lease.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date
set forth below.
TENANT:
COMPUMED, INC.,
a Delaware corporation
By: /s/ Xxxx X. XxXxxxxxxx
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Date signed: July 19, 2004
LANDLORD:
L.A.T INVESTMENT CORPORATION,
a California corporation
By: /s/Xxxxx Xxxxx
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Date Signed: August 4, 2004
