Exhibit 10.4
FIRST AMENDMENT TO NET LEASE
AGREEMENT
AND DEVELOPMENT AGREEMENT
THIS FIRST AMENDMENT TO NET LEASE AGREEMENT AND
DEVELOPMENT AGREEMENT (“First Amendment”) is made and
entered into by and between CCMRED 40, LLC, a Colorado Limited
Liability Company (“Landlord”), and HESKA CORPORATION,
a Delaware Corporation (“Tenant”).
RECITALS
1. The Landlord and the Tenant
previously entered into a Net Lease Agreement dated May 24, 2004
(“Lease”), and a Development Agreement dated May 24,
2004 (“Development Agreement”), both of which relate to
the lease by the Landlord to the Tenant of approximately five and
fifty-two one/hundredths (5.52) acres of real property (“Real
Property”) and the construction of an office, laboratory and
warehouse building thereon.
2. The Lease and the
Development Agreement require the Landlord to complete the
“Base Building Improvements” no later than one hundred
forty-six (146) business days following the issuance of a building
permit for the construction of the Base Building
Improvements.
3. The Lease further provides
for the payment of liquidated damages in the event the Landlord
shall fail to deliver possession of the substantially completed
Base Building Improvements to the Tenant within said one hundred
forty-six (146) business day period.
4. The parties desire to extend
the date for the completion of the Base Building Improvements and
the imposition of liquidated damages upon the terms set forth
hereinafter.
5. The parties further desire
to extend the date for the completion of landscaping on the Real
Property upon the terms set forth hereinafter.
6. Initially capitalized terms
used herein and defined in the Lease and/or the Development
Agreement shall have the meanings contained in the Lease and/or the
Development Agreement, unless otherwise defined herein.
NOW, THEREFORE, for good and valuable
consideration, the receipt and adequacy of which are hereby
confessed and acknowledged, each of the parties hereto hereby
agrees as follows:
1. Extension of
Landlord’s Completion Date and Commencement of Liquidated
Damages. The Lease and the Development Agreement are hereby
modified and amended to grant to the Landlord one hundred
seventy-five (175) business days (i.e., until May 19, 2005)
(“Extended Landlord’s Completion
Date̶
