EXHIBIT 10.5.2
THIRD LEASE AMENDMENT
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This Third Lease Amendment, made this 1st day of February, 1999 by and
between Sterling/Gunston LLC, ("Landlord"), and Network Access Solutions
("Tenant"), is an integral part of that lease dated February 27, 1997 and as
amended on June 26, 1998 and November 1, 1998 for 000 Xxxxxxxxx Xxxxx, Xxxxx
000, Xxxxxxxx, Xxxxxxxx 00000 (together known as the "Lease").
Whereas Landlord and Tenant wish to modify the terms of the Lease,
Landlord and Tenant hereby agree that the Lease shall be amended as
follows:
1.) Lease Premises. The Tenant currently occupies 8,811 rentable square
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feet of office space known as 000 Xxxxxxxxx Xxxxx, Xxxxx 000 (2,020 sf.) and
Xxxxx 000 (0,000 xx.), Xxxxxxxx, Xxxxxxxx. Effective February 1, 1999, the
Premises shall be amended to include Suite 201 (2,546 sf.) and 204 (2,020 sf.)
for a total of 13,377 rentable square feet as shown on Exhibit.
3.) Rent. Effective February 1, 1999, the Monthly Base Rent shall be as
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follows:
Xxxxx 000 Xxxxx 000 Xxxxx 000 & 204 TOTAL
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February 1, 1999-August 31, 1999 $8,175.45 $2,609.17 $7,039.25 $17,823.87
September 1, 1999-August 31, 2000 $8,420.71 $2,687.44 $7,250.43 $18,358.58
September 1, 2000-August 31, 2001 $8,673.34 $2,768.07 $7,467.94 $18,909.35
4.) Additional Rent. Tenant shall be responsible for its proportionate
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share of common area maintenance operating expenses above Base Year 1997.
Tenant's proportionate share shall be amended to 30.5% (13,377 sf./43,895 sf.)
5.) Tenant Improvement Allowance. Tenant will accept Suite 201 and 204 in
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"as-is" condition except that Landlord shall provide Tenant with a tenant
improvement allowance of $11,415.00 (representing $2.50 per square foot) on the
Suites 201 & 204. Landlord shall pay this allowance to Tenant within 30 days of
Tenant providing actual invoices for the tenant improvements completed in Suites
201 & 204.
6.) Brokerage. Tenant warrants and represents that no broker or agent was
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instrumental in consummating this Lease Amendment and that no prior negotiations
were had by Tenant with any broker or agent concerning this Lease Amendment.
7.) Cancellation of Sublease. Upon execution of this Third Lease
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Amendment, Tenant's sublease with Xxxxxxx Research LLC for Suite 204 will become
null and void.
8.) All other terms and conditions of the Lease not addressed in this
Third Lease Amendment shall remain in full force and effect.
LANDLORD
Sterling/Gunston LLC
By: Rock Creek Realty LLC
Authorized Member
By: Xxxxxxxxx Development Corporation
Its Manager
Date: _________________________ By: __________________________________
Xxxxxx X. Xxxxxxx, Vice President
TENANT
Network Access Solutions
Date: 2/1/99 By: /s/ Xxxxx X. Xxxxxx
