OPTION(S) TO EXTEND
STANDARD LEASE ADDENDUM
Dated
February
14,
2007__________________________________________________
By and
between (Lessor ) Land Associates
Trust, E.C. Alsenz, Trustee_______________
_________________________________________________
By and
between (Lessee) T3 Motion, Inc., a
Delaware Corporation__________________
________________________________________________
Address of
Premises: 2990 Airway
Avenue__________________________________
Costa Mesa,
CA______________________________________
Lessor
hereby grants to Lessee the option to extend the term of this
Lease for one
(1) additional 60
month period(s) commencing when the prior term expires upon
each and all of the following terms and
conditions:
(i) In order to
exercise an option to extend, Lessee must give
written notice of such election to Lessor and
Lessor must receive the same at least 6
but not more than 12
months prior to the date that the option period would
commence, time being of the essence. If proper notification
of the exercise of an option is not given and/or received,
such option shall automatically expire. Options
(if there are more than one) may only be exercised
consecutively.
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(ii)
The provisions of paragraph 39, including those relating to
Lessee's Default set forth in paragraph 39.4 of this Lease, are
conditions of this Option.
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(iii) Except
for the provisions of this Lease granting an option or
options to extend the term, all of the terms and conditions
of this Lease except where specifically modified by this
option shall apply.
(iv) This Option is personal to the
origin at Lessee, and cannot be assigned or exercised
by anyone other than said original Lessee and only
while the original Lessee is in full possession of the
Premises and without the intention of thereafter assigning or
subletting.
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(v)
The monthly Rent for each month of the option period
shall be calculated as follows, using the method(s) indicated
below: (Check Method(s) to be Used and Fill in
Appropriately)
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[ ] l. Cost of Living
Adjustment(s) (COLA
)
a. On (Fill in COLA
Dates):____________________________________________________________________________________________________________________________________________________________________________
the Base Rent shall be adjusted by the change
if any from the
Base Month specified
below in the Consumer Price index
of the Bureau of Labor Statistics of the U.S. Department
of labor for (select one)
o
CPI W ( Urban Wage Earners and Clerical Workers)
or
o
CPI U (All Urban Consumers) , for (Fill in Urban
Area)
All Items (1982- 1984 -100) herein referred to as
CPI
b.
The monthly rent payable in accordance with paragraph
A.1.a of this Addendum shall be calculated as follows: the Base
Rent set forth in paragraph 1.5 of the attached Lease
shall be multiplied to a fraction the
numerator
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