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6.A.(1) Third Amendment to Lease
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6.A.(1) Third Amendment to Lease
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"Notwithstanding the foregoing, effective November 1, 2007, Tenant =s Base Rent <br />shall be Four and 68/100 Dollars ($4.68) per square foot per year or One Thousand <br />Two Hundred Fifty and 00 /100 Dollars ($1,250.00) per month until October 31, <br />2008. Effective November 1, 2008, Tenant =s Base Rent shall be Seven and 49/100 <br />Dollars ($7.49) per square foot per year or Two Thousand Dollars ($2,000.00) per <br />month until October 31, 2009. Effective November 1, 2009, the Tenant's Base Rent <br />shall be Nine and 37/100 Dollars ($9.37) per square foot per year or Two Thousand <br />Five Hundred and 00/100 Dollars ($2,500.00) per month until the expiration of the <br />Lease Term, as extended, on October 31, 2012. <br />"In addition to the foregoing, effective November 1, 2007, the Base Rent shall further <br />include six percent (6.00 %) of the Tenant's annual gross revenues that exceed Six <br />Hundred Thousand and 00 /100 Dollars ($600,000.00) calculated fromNovember 1 to <br />October 31, which portion of the Base Rent for that fiscal year ending October 31 <br />shall be due on the earlier of. (i) forty -five days after the termination of this Lease or <br />(ii) forty -five (45) days after the end of each said fiscal year ending October 31. In <br />the event that the Lease is terminated prior to the end of the October 31 fiscal year, <br />the foregoing additional Base Rent due shall be prorated by dividing the annual gross <br />revenue threshold based upon a three hundred sixty (360) day year." <br />6. The Parties acknowledge and agree that this Third Amendment shall relate back to the <br />date of the execution of the Lease and that all remaining terms and conditions of the Lease not in <br />conflict herewith, shall remain in full force and effect. <br />7. This Amendment may be executed in counterparts, all of which shall be deemed <br />originals. <br />8. The undersigned persons executing and delivering this Third Amendment on behalf of <br />the Tenant represent and certify that they are the duly elected officers of the Tenant and have been <br />fully empowered, by proper resolution of the Board of Directors to execute and deliver this Third <br />Amendment and that all necessary corporate action has been taken and done. <br />2 <br />
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