Extension of Lease: 000 Xxxxxx Xxxxxx, Xxxxxxxxxx
1. Extension of Lease Agreement made by and between Xxxxxx X. Xxxxx and
Xxxxx X. Xxxxx (Landlord), and ZAP Power Systems (Tenant) relative to a
certain lease agreement for premises known as 000 Xxxxxx Xxxxxx, and
dated January 12, 1996 (Lease).
2. For good consideration, Landlord and Tenant each agree to extend the term
of said Lease for a period of (3) three years commencing on June 1, 1993,
terminating on June 1, 2002. The tenant has the option and right to
extend this lease for one period of (3) years commencing on the
expiration of the Original Term. The other conditions of this renewal
option are described in the original lease, Section 1.02.
3. During the extended term, Tenant shall pay Lessor rent of $4,614.40 per
month with consideration given to Rental Increases as described in the
Original Lease.
4. Other terms are as follows:
Lessee shall agree to continue the terms of the lease as specified
in the Original Lease. Lessor agrees to install wall ventilation
openings and/or ceiling ventilation fans per specifications and as
agreed to by Lessee and Lessor to help with the air flow in
maintaining an acceptable comfort level in the shop portion of the
building. These improvement shall be completed no later than
August 10, 1998.
Lessor agrees to install a 10' wide paved path from the existing
parking lot to the front of 000 Xxxxxx Xxxxxx. This improvement
shall be completed no later than August 31, 1998.
5. It is further provided that all other terms of the Lease shall continue
during this extended term. This agreement shall be binding upon and shall
inure to the benefit of the parties, their successors, assigns and
personal representatives.
Executed on July 10, 1998 at Sebastopol, California.
/s/ Xxxxxx X. Xxxxx /s/ Xxxxxx X. Xxxxx
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Xxxxxx X. Xxxxx (Landlord) Xxxxxx X. Xxxxx (Landlord)
/s/ Xxxxx XxXxxxx
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Xxxxx XxXxxxx, President (Tenant)
