EXHIBIT 10.25
DAIMLER COMMERCE PARTNERS,
L.P.
2008 INDUSTRIAL REAL ESTATE LEASE
This Lease is entered into by
DAIMLER COMMERCE PARTNERS, L.P., a California Limited Partnership
by its General Partner, CONIFER INVESTMENTS, INC. (LANDLORD) and
SRS LABS, INC., a California Corporation (TENANT) on the following
terms and conditions:
RECITALS
A.
LANDLORD is a California Limited Partnership which owns the
industrial building located at 2905 to 2917 Daimler Street, Santa
Ana, California. The General Partner of the LANDLORD is Conifer
Investments, Inc., a California Corporation. The principal
place of business of the LANDLORD is located at 2905 South Daimler
Street, Santa Ana, California 92705-5810.
B.
TENANT is a California Corporation with its principal place of
business located at 2909 South Daimler Street, Santa Ana,
California 92705-5810.
C.
On June 1,1994. LANDLORD and TENANT entered into a three year
written lease for the premises located at 2909 South Daimler
Street, Santa Ana, California consisting of approximately 11,700
square feet. The lease commenced on June 1,1994 and terminated
on May 31, 1997. The June 1, 1994 lease was entitled
DAIMLER COMMERCE PARTNERS, L.P. INDUSTRIAL REAL ESTATE LEASE and
consisted of thirteen (13) pages and two exhibit
pages and was a Multi-Tenant Net Form published by the
Southern California Chapter of the Society of Industrial and Office
Realtors.
D.
On June 1,1997 the LANDLORD and TENANT entered into a new
lease for the premises located at 2909 South Daimler Street, Santa
Ana, California with the lease premises consisting of approximately
23,400 square feet, with the lease term to be for three years
commencing on June 1,1997 and terminating on May 31,2000,
with an option to extend the lease for two years commencing
June 1,2000 and ending May 31,2002. The terms and
conditions of the lease were set forth in the June 1,1994
lease as modified by a two page document entitled Lease Terms
and Conditions dated May 31, 1997 with the lease term
commencing on June 1,1997. (“the 1997
Lease”)
E.
On May 31,2000 the TENANT exercised its option to extend the
1997 lease for the premises located at 2909 South Daimler Street,
Santa Ana. California for a two year period as provided in the 1997
Lease.
F.
On May 31,2002 the TENANT entered into a new lease for the
premises located at 2909 South Daimler Street, Santa Ana,
California with the lease premises to consisting of approximately
23,400 square feet, with the lease term to be for three years
commencing on June I, 2002 and terminating on
May 01,2005, with an option to extend the lease for three
years commencing on June 1, 2005 and ending May 31,2008.
The terms and conditions of the lease were set forth in the
June 1, 1994 lease as modified by a two page document
entitled Lease Terms and Conditions dated May 31,2002 with the
lease term commencing on June 1,2002. (“the 2002
Lease”)
G.
LANDLORD and TENANT are desirous of entering into a new lease for
the premises located at 2909 South Daimler Street, Santa Ana,
California with the
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