EXHIBIT 10.5.1
FIRST AMENDMENT TO
LEASE
THIS FIRST AMENDMENT TO LEASE is
made and entered into as of December 2003 by and between the
Multi-Employer Property Trust, a trust organized under 12 CFR
Section 9.18 (the “Landlord”), and BIOJECT MEDICAL
TECHNOLOGIES, WC., an Oregon corporation (the
“Tenant”). All capitalized terms not defined herein
shall have the meanings given to them in the Lease (defined
below).
RECITALS
|
A.
|
Landlord and
Tenant are parties to that certain Industrial Lease dated
October 24,2003, (the “Lease”), for certain
premises containing approximately 44,042 square feet, 8,750 square
feet of which is located in Building G (“Building G
Space”) and the balance of 35,292 square feet is in Building
H (“Building H Space”) of the Project. The Premises are
more particularly described in the Lease.
|
|
B.
|
Pursuant to
Section 2.10 of the Lease, Tenant has the option to lease that
certain 5,280 square foot space located at 20209 SW 95” Place
as shown on Exhibit A attached hereto and incorporated herein by
this reference (the “New Space”), which space is in
Building H, and to surrender its Building G Space. This exchange of
space will allow Tenant to have contiguous space in Building
H.
|
|
C.
|
Tenant desires
to exercise its option and Landlord desires to accept
Tenant’s exercise of the same in accordance with the terms of
Section 2.10 of the Lease and this Amendment.
|
AGREEMENTS
For good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the
parties agree to amend the Lease as follows:
|
1.
|
Premises. As of the date of this Amendment, Tenant shall
surrender and terminate the Lease as to the Building G Space and
lease the New Space on the same terms and conditions as provided in
the Lease. Landlord accepts the termination as to the Building G
Space and the leasing of the New Space. From and after the date of
this Amendment, the term “Premises” under the Lease
shall mean and be deemed to refer to the Building H Space and the
New Space collectively for a total of 40,572 square
feet.
|
|
2.
|
Monthly Base
Rent . The Base Rent
schedule of the Lease is deleted in its entirety and replaced with
the following:
|
|
|
|
|
|
|
|
|
Applicable Portion of Lease
Term
|
|
Annual Base Rent
|
|
Monthly Base Rent
Installment
(Annual/12)
|
|
|
|
|
|
|
|
March 1, 2004
|
|
October 31, 2004
|
|
Zero
|
|
Zero
|
|
November 1, 2004
|
|
February 28,2005
|
|
$338,904.00
|
|
$28,242.00
|
|
March 1, 2005
|
|
February
28,2006
|
|
$347,376.60
|
|
$28,948.05
|
|
