Exhibit 10.47
|
|
|
|
|
Date: July 14, 2005
|
|
Extension: 1
|
STANDARD
LEASE RENEWAL FORM
LEASE to be renewed is that
certain lease described as follows:
|
|
|
|
|
Lessor:
|
|
TRICO RENTS, a
California General Partnership
|
|
|
|
|
Lessee:
|
|
CERADYNE, INC.,
a Delaware Corporation
|
|
|
|
|
Property
Leased:
|
|
205 Paularino
Avenue, Costa Mesa, CA 92626
|
|
|
|
|
Lease
Dated:
|
|
January 5,
2005
|
The term of the referenced Lease is
hereby extended from:
November 1, 2005 through
October 31, 2010
With the following changes
only:
A. Security Deposit increased from $5,220.00
to $5,860.00
B. Rent. The monthly rent for the period of this Lease
Extension will be:
|
|
|
|
|
|
|
|
Monthly Rent
|
|
11/01/05 – 10/31/06
|
|
$
|
5,100.00
|
|
11/01/06 – 10/31/07
|
|
$
|
5,253.00
|
|
11/01/07 – 10/31/08
|
|
$
|
5,410.00
|
|
11/01/08 – 10/31/09
|
|
$
|
5,573.00
|
|
11/01/09 – 10/31/10
|
|
$
|
5,740.00
|
The above rental schedule does not
include the estimated monthly Common Area Operating Expense, which
is currently $120.00
C. Late Rent
Adjustments. Notwithstanding other provisions in this lease
which pertain to the payment of rent, or late charges, it is
understood and agreed that if the Lessee fails to pay the rent
specified in this lease, within the timeframe specified, for three
(3) or more times in any twelve (12) month period after
the commencement date of this lease, then the Lessor may, at the
Lessor’s option, increase the monthly rent for the balance of
the lease by ten (10) percent. Said increase shall commence
after the Lessor gives the Lessee a thirty day notice, in writing,
that the increase shall go into effect.
D. Restoration of the
Premises. On or before
the scheduled termination of this Lease, or any variations thereof,
the Lessee shall at Lessee’s expense restore the Premises to
the original condition, taking into consideration the reasonable
wear and tear of the Premises and in accordance to the provisions
of this lease. The requirements of restoration in this paragraph
shall not exceed the requirements of restoration in the original
lease term.
E. Option to Cancel.
Lessee shall have the right to
cancel this Lease causing same to become null and void and of no
furth
