EXHIBIT 10.2
FIRST AMENDMENT OF
LEASE
THIS FIRST AMENDMENT OF LEASE
(“First Amendment”) is entered into and made to be effective as of
March 19, 2009 (the “Effective Date”) by and
between Minnesota Industrial Properties Limited Partnership, a
Minnesota limited partnership (“Landlord”) and Cascade
Microtech, Inc., an Oregon corporation
(“Tenant”).
RECITALS
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A.
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Landlord and
Tenant are parties to that certain Lease Agreement dated
February 6, 2009 (the “Lease”) pursuant to which
Tenant leases from Landlord the premises comprised of approximately
13,998 square feet of Rentable Area (the “Premises”)
located in the Northland Interstate III, 7115 Northland Terrace,
Brooklyn Park, MN 55428 (the “Project”), as more
particularly described in the Lease.
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B.
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Landlord has
Substantially Completed all of its construction obligations as
specified in Exhibit B (the “Construction Rider”) to
the Lease, except delivery of a certificate of occupancy, and the
parties wish to modify the Lease regarding the Commencement Date
and the Expiration Date of the Lease.
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NOW, THEREFORE
, in consideration of the foregoing
recitals, the mutual covenants herein contained, and for other good
and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, Landlord and Tenant agree that the Lease is
hereby amended as follows:
AGREEMENT
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1.
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Recitals . The foregoing recitals are true and correct in
all respects and incorporated herein by reference.
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2.
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Commencement
Date . Notwithstanding
anything in the Lease to the contrary, the Commencement Date (as
defined in the Lease) shall be the later of (i) March 23,
2009; or (ii) receipt by Landlord of certificate of occupancy
from the City of Brooklyn Park. Landlord will confirm the
Commencement Date and Expiration Date by written notice to Tenant
upon receipt of the certificate of occupancy, and upon request, the
parties shall confirm the Commencement Date and Expiration Date in
writing.
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3.
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Base
Rent . Notwithstanding
anything in the Lease to the contrary, if the Commencement Date
established pursuant to Paragraph 1 above is other than the first
day of any calendar month, then such partial month at the beginning
of the Term shall be added to the Term and the Base Rent
adjustments set forth in Basic Lease Information under the heading
“Base Rent:” shall occur on the first day of the
applicable month (for example, if the Commencement Date occurs on
March 23, 2009, then (i) the Expiration Date of the Lease
will be March 31, 2016, (ii) Tenant’s six
(6) month rent abatement would be from March 23, 2009
through and including September 22, 2009,
(iii) Tenant’s Base Rent for the period of
September&nb
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