SECOND AMENDMENT OF
LEASE
THIS SECOND
AMENDMENT OF LEASE (this “Amendment”) is made to be
effective the 1st day of January, 2004, by and between CSM
INVESTORS, INC., a Minnesota corporation (“Landlord”),
and SYNOVIS LIFE TECHNOLOGIES, INC. f/k/a Bio-Vascular, Inc., a
Minnesota corporation (“Tenant”).
A. Landlord
and Tenant are parties to that certain Lease dated
February 28, 1995, as amended by that certain First Amendment
of Lease (the “First Amendment”) dated
September 23, 2002 (together, the “Lease”),
pursuant to which Tenant leased from Landlord that certain premises
(the “Premises”) within Westgate Business Center Phase
IV (the “Building”) located at 2575 University Avenue
West, Suite 180, St. Paul, Minnesota, as more particularly
described in the Lease.
B. The
parties wish to amend certain terms and conditions of the Lease as
more particularly set forth herein.
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 are hereby acknowledged,
Landlord and Tenant agree as follows:
1.
Section 1.2 Premises .
(a) Commencing
January 1, 2004, the Premises shall be expanded to include the
Second Expansion Area (as such term is defined in the First
Amendment). The square footage of the Second Expansion Area as
recited in the First Amendment omitted that certain 149 square feet
of space depicted on the attached Exhibit A .
Consequently, the total rentable square footage of the Second
Expansion Area is 28,975, making the total rentable square footage
of the Premises (including the Second Expansion Area) 69,867. Base
Rent payable by Tenant in respect of the Second Expansion Area
shall be $10.978 per rentable square foot, or $26,507.30 per month.
Landlord agrees to let Tenant have early occupancy of the Second
Expansion Area on December 24, 2003, which occupancy shall be
subject to the terms and conditions of the Lease.
(b) Commencing
January 15, 2004, the Premises shall be expanded to include
that certain 2,709 square foot space depicted on the attached
Exhibit B as the “Third Expansion Area,”
thereby increasing the total square footage of the Premises to
72,576. Except as otherwise provided herein, Tenant shall not be
obligated to pay a pro rata share of operating expenses or Base
Rent in respect of the Third Expansion Area. On or before
February 29, 2004, Tenant shall vacate and surrender to
Landlord the Third Expansion Area broom clean and in as good as
condition that existed on January 15, 2004, ordinary wear and
tear excepted, and with all of Tenant’s belongings removed.
In the event that Tenant does not vacate the Third
Expansion
Area on or
before February 29, 2004, Landlord shall have the option to
treat Tenant’s occupancy for the holdover period as either an
at-will occupancy or a month-to-month occupancy and all of the
terms and provisions of the Lease shall be applicable during that
period, except that Tenant shall pay Landlord as Base Rent for the
Third Expansion Area for the holdover period an amount equal to one
and one-half (1.5) times the rate of Base Rent in effect for the
Second Expansion Area on February 29, 2004, togeth
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