EXHIBIT 10.5
FIRST AMENDMENT TO LEASE
The parties hereto agree to amend the lease by and between ▇▇▇▇▇
DEVELOPMENT COMPANY (Landlord) and CHATTEM, INC. (Tenant), for the following
described space commonly known as approximately 9,6000 square feet located in
Phase I, ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇, ▇▇ as follows:
1. ARTICLE 1, SECTION 1. -PREMISES The square footage of the premises is
hereby increased to 35,200 square feet.
2. ARTICLE 2, SECTION 1. -MINIMUM RENT The minimum rent during the remaining
term of the Lease is hereby modified as follows:
(i) Commencing DECEMBER 1, 1996 and terminating JANUARY 31, 1998, an
annual rent of ONE HUNDRED THIRTEEN THOUSAND ONE HUNDRED TWENTY
AND 00/100 ($113,120.00) DOLLARS, payable in equal monthly
installments of NINE THOUSAND FOUR HUNDRED TWENTY-SIX AND 67/100
($9,426.67) DOLLARS.
(ii) Commencing on FEBRUARY 1, 1998 and terminating NOVEMBER 30, 1999,
an annual rent of ONE HUNDRED FOURTEEN THOUSAND FIVE HUNDRED SIXTY
AND 00/100 ($114,560.00) DOLLARS, payable in equal monthly
installments of NINE THOUSAND FIVE HUNDRED FORTY-SIX AND 67/100
($9,546.67) DOLLARS.
(iii) Commencing DECEMBER 1, 1999 and terminating JANUARY 31, 2001,
an annual rent of ONE HUNDRED EIGHTEEN THOUSAND FOUR HUNDRED
AND 00/100 ($118,400.00) DOLLARS, payable in equal monthly
installments of NINE THOUSAND EIGHT HUNDRED SIXTY-SIX AND 67/100
($9,866.67) DOLLARS.
3. ARTICLE 3, SECTION 1. -REAL ESTATE TAXES AND INSURANCE PREMIUMS The
Tenant's proportionate share of base year Real Estate Taxes and Insurance
Premiums will be increased to amounts equal to 70.96 percent (%) of the 1995
Taxes & Premiums paid by the Landlord for the whole building.
4. ARTICLE 3, SECTION 2. -PROPORTIONATE SHARE Tenant's proportionate share
of any increases under Section 1 above shall be deemed to be 70.96 percent (%).
All other terms and conditions contained in the current lease shall remain
the same.
Date: 12-2-96 Date: 11/26/96
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LANDLORD: TENANT:
▇▇▇▇▇ DEVELOPMENT CO. CHATTEM, INC.
By: ▇▇▇ ▇▇▇▇▇▇ By: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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Title: Partner Title: EVP - CFO
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