ADDENDUM #1 EXHIBIT 10.58
AGREEMENT made this 6th day of July 1998, between REGENCY PARK
CORPORATION, A North Carolina corporation having its principal place of
business in Cary, North Carolina (the "Landlord")and SEER TECHNOLOGIES, INC.,
a Delaware corporation having its principle place of business in Cary, North
Carolina (the "Tenant").
WITNESSETH:
WHEREAS, the Landlord and Tenant entered into an Amended and Restated Lease
Agreement dated March 31, 1997 (herein collectively called the "Lease"),
whereby the Landlord leased to the Tenant premises in a building at 0000
Xxxxxxx Xxxxxxx, Xxxx, Xxxxx Xxxxxxxx (herein called the "Building"); and
WHEREAS, the Tenant desires to reduce it's Premises in the Building.
NOW, THEREFORE, in consideration of the Premises and of the mutual
Agreements hereinafter set forth, it is hereby mutually agreed as follows:
1. Effective August 1, 1998, the Annual Rental due under Article 2.01 ANNUAL
RENTAL of the Lease Agreement shall be as follows:
Rental of Eight Hundred Eighty-Seven Thousand Six Hundred Fifty-Eight and
90/100 Dollars($887,658.90) per year ("Annual Rent"), payable in equal
monthly installments of Seventy-Three Thousand Four Hundred Seventy-One and
57/100 Dollars ($73,971.57), in advance, on or before the first day of each
calendar month for the period August 1, 1998, up to and including March 31,
1999;
Rental of Nine Hundred Forty-One Thousand Four Hundred Sixty-Five and 00/100
Dollars($941,465.00) per year ("Annual Rent"), payable in equal monthly
installments of Seventy-Eight Thousand Four Hundred Fifty-Five and 42/100
Dollars ($78,455.42), in advance, on or before the first day of each
calendar month for the period April 1, 1999, up to and including March 31,
2001;
Rental of Nine Hundred Ninety-Five Thousand Two Hundred Sixty-Three and
00/100 Dollars ($995,263.00) per year ("Annual Rent"), payable in equal
monthly installments of Eighty-Two Thousand Nine Hundred Thirty-Eight and
58/100 Dollars ($82,938.58), in advance, on or before the first day of each
calendar month for the period April 1, 2001, up to and including March 31,
2004;
2. The space as outlined on the floor plan which is attached to the Amended and
Restated Lease Agreement dated March 31, 1997 as Exhibit A and Exhibit A-1,
both for the first floor, shall be replaced by Exhibit G and Exhibit G-1.
3. Effective August 1, 1998, Article 2, Paragraph 2.02.01 OPERATING EXPENSES of
the Lease Agreement shall be amended to reflect that the Tenant's share of
Operating Expenses over the Base Operating Expenses shall now be thirty-
seven and thirteen one hundredths percent (37.13%) for the "Second Term"
as per Lease.
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4. Effective August 1, 1998, Article 2, Paragraph 2.02.02 REAL ESTATE TAXES
shall be amended to reflect that the Tenant's share of Teal Estate Taxes
over the Base Real Estate Taxes shall now be thirty-seven and thirteen one
hundredths percent 37.13%) for the "Second Term" as per the Lease.
5. The reduction of Premises constitutes approximately four thousand eight
hundred nineteen (4,819)rentable square feet.
6. The "Occupied Premises" as defined in the Amended and Restated Lease
Agreement constitutes fifty-three thousand seven hundred ninety-eight
(53,798) rentable square feet.
7. The Tenant shall pay to the Landlord as a one-time payment to be made no
later than July 31, 1998, Twenty-Nine Thousand Three Hundred Fifty and
00/100 Dollars ($29,350.00).
8. Except as herein modified, the Amended and Restated Lease Agreement shall
continue in full force and effect.
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IN WITNESS WHEREOF, this instrument has been duly executed by the parties
hereto as of the day and year first above written.
REGENCY PARK CORPORATION
Landlord
Corporate Seal
By:/s/ Xxxx Xxxxxxx
Xxxx Xxxxxxx
Vice President
ATTEST:
/s/ Xxxxxxxx Xxxxxxx
Xxxxxxxx Xxxxxxx
Assistant Secretary
Corporate Seal
SEER TECHNOLOGIES, INC.
Tenant
By: /s/Xxxxxx Xxxxxxxxxxx
Title: Co-President and Chief
Financial Officer
ATTEST:
/s/ Xxxxxx X. KcKinnie
Secretary
Exhibit G - Floor Plans for Floors 1-5.
Exhibit G-1 - Floor Plans for Occupied Premises on Floors 1-4.
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