FIRST AMENDMENT TO LEASE
This
FIRST AMENDMENT TO LEASE (this
"First Amendment") is made and entered into as of this 4th day of
May, 2007, by and between 300 W. FAYETTE STREET, LLC (hereinafter,
the "Landlord") and BASI MARYLAND, INC. (hereinafter, the
"Tenant").
RECITAL
A.
Landlord
and Tenant entered into a Lease Agreement fully executed on
the 7
th day
of December 2004, which is scheduled to terminate on January 4,
2008 (the "Lease").
B.
The
parties wish to reduce the size of the Premises by returning
the seventh (7
th floor
to Landlord, and by providing permission to Landlord to relet
floors 4, 5 and 6 of the Premises.
NOW, THEREFORE ,
in consideration of the mutual covenants contained herein and
intending to be legally bound, the parties hereto covenant and
agree as follows:
1.
Effective
on the day after the lease between Landlord and Bioanalytical
Systems Inc. for space in 300-306 West Fayette Street,
Baltimore, Maryland 21201, is fully executed (the "Effective
Date"), the seventh (7
th floor),
consisting of an agreed upon amount of seven thousand two hundred
thirty-one (7,231) rentable square feet shall be removed from the
Premises. The seventh (7
th )
floor shall be returned to Landlord in the condition described in
Section 6 of the Lease. As of the Effective Date, the total monthly
rental shall be reduced by Four Thousand Eight Hundred
Twenty
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