SECOND AMENDMENT TO LEASE
EXHIBIT 10.5B
SECOND AMENDMENT TO LEASE
This Second Amendment to Lease is dated March 1, 2005 between R2H2 LLC, a Washington limited liability company (“Landlord”), and Xxxxx Soda Co. (formerly known as “Urban Juice & Soda Company”), a Washington corporation (“Tenant”).
By written Lease Agreement dated March 14, 2000, Tenant leased from Landlord approximately 7,989 square feet of rentable space located at 234 – 0xx Xxxxxx Xxxxx, Xxxxxxx, Xxxxxxxxxx 00000. Such documents are hereinafter jointly referred to as the “Lease.” The original Lease expired February 28, 2003. The First Lease Amendment, agreed to on March 1, 2003, expired on February 28, 2005.
Landlord and Tenant now wish to extend the term of the Lease on the following terms and conditions:
1. Defined Terms. As used herein, all defined terms shall have the meanings as set forth in the Lease.
2. Term. Section 1.9 “TERM” shall be amended as follows:
The Term of this Lease shall be extended for two (2) years commencing on March 1, 2005 and ending on February 28, 2007.
3. Fixed Rent. Section 1.5 “FIXED RENT” shall be amended as follows:
Commencing on March 1, 2005 the monthly Fixed Rent for the period from March 1, 2005 to February 28, 2006 shall be $7323.25 per month.
Commencing on March 1, 2006 the monthly Fixed Rent for the period from March 1, 2006 to February 28, 2007 shall be $7989.00 per month.
4. Free Products. Section 13.9 “FREE XXXXX SODA PRODUCTS” shall be amended as follows:
The parties agree that during the Term from March 1, 2005 to February 28, 2007, the Tenant shall deliver to the Landlord on the first day of each month, five (5) cases of mixed Xxxxx Soda products at no cost to the Landlord.
5. Early Termination by Landlord. The Landlord intends to redevelop the Building. Accordingly, Tenant agrees that Landlord shall have the right at any time during the Term to terminate the Lease by delivering nine (9) months’ advance written notice to Tenant. The Lease shall terminate at the end of such nine-month notice period.
6. Nonmodification. Except as set forth herein, the Lease shall remain in full force and effect and is unmodified.
IN WITNESS WHEROF, the parties have executed this agreement as of the day and year first written above.
LANDLORD: | TENANT: | |||||
R2H2 LLC | XXXXX SODA CO. | |||||
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