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EXHIBIT 10.49
FOURTH AMENDMENT TO OFFICE / WAREHOUSE LEASE
This FOURTH AMENDMENT TO OFFICE / WAREHOUSE
LEASE is made effective as of the __
of June, 2004, by and between Cambridge
Apartments, Inc., a Minnesota
corporation ("Lessor"), and Navarre
Corporation, a Minnesota corporation
("Lessee").
WHEREAS, Lessor and Lessee entered into a certain
Office/Warehouse
Lease dated April 1, 1998, as subsequently
amended by that certain First
Amendment to Lease dated April 1, 1998, as
subsequently amended by that certain
Second Amendment to Office/Warehouse Lease
dated effective as of July 14, 2003,
as subsequently amended by that certain
Third Amendment to Office/Warehouse
Lease effective as of February 23, 2003, as
subsequently amended by that certain
Addendum, extending the term of the lease
to June 30, 2019, effective May 27,
2004 (collectively, the "Lease") pursuant
to which Lessor leased to Lessee
certain premises located in the City of New
Hope (the "City"), County of
Hennepin, State of Minnesota consisting of
approximately 86,430 square feet of
office and warehouse space, commonly
described as the Navarre Building, and
located at 7400 49th Avenue North, New
Hope, Minnesota (the "Demised Premises");
and
WHEREAS, Lessee has requested, and Lessor has consented, to
Lessee's
undertaking the Improvements to the
Premises including a) replacing all carpet
on 1st and 2nd floors of the Office portion
of the Premises, b) removing the SE
entry vestibule, including the exterior
doors and replacing same with curtain
wall similar to the SW corner of the
building, and c) converting a portion of
the lunchroom into office space as set
forth and described in the attached
Exhibit A and described as "Existing Lunch
Room: Option 4", attached hereto and
made a part of this Fourth Amendment on the
terms and subject the conditions
hereinafter set forth.
NOW, THEREFORE, for good and valuable consideration, the receipt
and
sufficiency of which are hereby
acknowledged, it is hereby agreed as follows:
1. Improvements
to the Premises.
a. New Carpet.
Replacement of carpet on the 1st and 2nd floors of
the Office portion of the Premises, with carpet of a quality
equal to the existing carpet. The carpet is the same as in the
adjacent 7600 building.
b. Removal of SE
Entry. Removal of the SE Entry to include removal
of the interior vestibule, removal of exterior doors and
in-filling same with curtain wall similar to the SW corner of
the
building. Stone flooring will remain, but will be covered with
carpet. Removal of soffit above entry vestibule and
configuration
of ceiling, HVAC distribution and lighting locations. See
attached Exhibit A labeled "Floor Plan of SE Entry".
c. Conversion of
Lunch Room. Conversion of the lunch room to vending
and office space
by constructing a demising
