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FIFTH AMENDMENT TO LEASE AGREEMENT JORDAN VALLEY TECHNOLOGY CENTER OFFICE BUILDING TWO

Lease Agreement

FIFTH AMENDMENT TO 

LEASE AGREEMENT 

JORDAN VALLEY TECHNOLOGY CENTER 

OFFICE BUILDING TWO | Document Parties: BOYER FREEWAY PARK, LC | Boyer Jordan Valley 1, LC | TENFOLD CORPORATION You are currently viewing:
This Lease Agreement involves

BOYER FREEWAY PARK, LC | Boyer Jordan Valley 1, LC | TENFOLD CORPORATION

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Title: FIFTH AMENDMENT TO LEASE AGREEMENT JORDAN VALLEY TECHNOLOGY CENTER OFFICE BUILDING TWO
Date: 8/1/2007
Industry: Software and Programming     Sector: Technology

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Exhibit 10

FIFTH AMENDMENT TO

LEASE AGREEMENT

JORDAN VALLEY TECHNOLOGY CENTER

OFFICE BUILDING TWO

THIS FIFTH AMENDMENT TO LEASE AGREEMENT (the “Amendment”) is made and entered into as of this 29 th day of June, 2007, by and between BOYER FREEWAY PARK, L.C., a Utah Limited Liability Company, (the “Landlord”), and TENFOLD CORPORATION, a Delaware Corporation (the “Tenant”), (collectively the “Parties”).

RECITALS:

WHEREAS, Boyer Jordan Valley 1, L.C. (the predecessor in interest to Landlord) and Tenant entered into a certain Lease Agreement – Tenfold Office Building Phase I, dated April 28, 2000 and amended by the First Amendment to Lease Agreement dated November 30, 2000, and the Second Amendment to Lease Agreement dated April 3, 2002, and Third Amendment to Lease Agreement dated September 30, 2002, and Fourth Amendment to Lease Agreement dated December 12, 2002 (the “Lease”) providing for the lease by Landlord to Tenant of the office building located at 698 West 10000 South in South Jordan, Utah. Capitalized terms which are used but not defined in this Amendment shall have the same meaning as is set forth in the Lease; and

WHEREAS, Boyer Jordan Valley 1, L.C. assigned its entire right, title and interest in the Lease and conveyed its entire right, title and interest in and to the Leased Premises to Landlord; and

WHEREAS, Landlord and Tenant desire to modify the Lease strictly upon the terms and conditions set forth in this Amendment.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows:

 

  1. A RTICLE 1.1( D ), N ON -E XCLUSIVE P ARKING : The number of non-exclusive parking stalls shall be changed from 89 to 90 parking stalls.

 

  2. A RTICLE 2.1, L ENGTH OF T ERM : The length of this Fifth Lease Amendment shall be for a period of Five (5) years.

 

  3. A RTICLE 2.2, C OMMENCEMENT D ATE ; O BLIGATION TO P AY R ENT : The Commencement Date of this Fifth Amendment to Lease Agreement shall be September 1, 2007. Tenant’s obligation to pay rent herein shall commence on the Commencement Date. The Expiration Date of this Amendment shall be August 31, 2012.

 

1

 


  4. A RTICLE 3.1, B ASIC A NNUAL R ENT : The Basic Annual Rent for the term of this Fifth Amendment to Lease Agreement shall be as follows:

 

Lease

Year

  Dates  

Rentable

Square Ft

 

NNN Rent

Per RSF

  Annual Rent   Monthly Rent

1

  9/1/07 - 8/31/08   22,310   $ 14.00   $ 312,340.00   $ 26,028.33

2

  9/1/08 - 8/31/09   22,310   $ 14.50   $ 323,495.00   $ 26,957.92

3

  9/1/09 - 8/31/10   22,310   $ 15.00   $ 334,650.00   $ 27,887.50

4

  9/1/10 - 8/31/11   22,310   $ 15.50   $ 345,805.00   $ 28,817.08

5

  9/1/11 - 8/31/12   22,310   $ 16.00   $ 356,960.00   $ 29,746.67

 

  5. A RTICLE 21.3 E XTERIOR S IGNAG

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