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OPTION(S) TO EXTEND STANDARD LEASE ADDENDUM

Lease Addendum

OPTION(S) TO EXTEND
STANDARD LEASE ADDENDUM | Document Parties: T3 MOTION, INC. You are currently viewing:
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T3 MOTION, INC.

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Title: OPTION(S) TO EXTEND STANDARD LEASE ADDENDUM
Date: 5/13/2008

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OPTION(S) TO EXTEND
STANDARD LEASE ADDENDUM


                                                     Dated February 14, 2007__________________________________________________

                                                     By and between (LessorLand 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______________________________________


Paragraph 51   

A.     OPTION(s) TO EXTEND:
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.

 
(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.

         (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.
 
 
(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)

[  ]    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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