Base rent | Estimated CAC* | Total | ||||||||||
01/01/01 through 03/31/01 | $ | 146,489 | $ | 2,200 | * | $ | 148,689 | |||||
04/01/01 through 03/31/02 | $ | 152,349 | $ | 2,200 | * | $ | 154,549 | |||||
04/01/02 through 03/31/03 | $ | 236,774 | $ | 2,200 | * | $ | 238,974 | |||||
04/01/03 through 03/31/04 | $ | 246,245 | $ | 2,200 | * | $ | 248,445 | |||||
04/01/04 through 03/31/05 | $ | 256,095 | $ | 2,200 | * | $ | 258,295 | |||||
04/01/05 through 03/31/06 | $ | 266,339 | $ | 2,200 | * | $ | 268,539 | |||||
04/01/06 through 03/31/07 | $ | 276,992 | $ | 2,200 | * | $ | 279,192 |
* | CAC charges to be adjusted per Common Area Charges Section below. |
(a) to the Lessor at: | 10050 Bandley Drive | |
Cupertino, California 95014 | ||
Attention: Carl E. Berg | ||
Fax No: (408) 725-1626 | ||
(b) to the Lessee at: | 3560 Bassett Street | |
Santa Clara, California | ||
Attention: Charley Eddy | ||
Fax No: 408.727.5739 |
LESSOR | LESSEE | |||||||
MISSION WEST PROPERTIES, L.P. III | INTEVAC CORPORATION | |||||||
BY: | MISSION WEST PROPERTIES, INC., | |||||||
ITS GENERAL PARTNER | ||||||||
By: | /s/ Carl E. Berg | By: | /s/ Charles B. Eddy | |||||
Signature of authorized representative | Signature of authorized representative | |||||||
Carl E. Berg | Charles B. Eddy | |||||||
Printed name | Printed name | |||||||
President | Chief Financial Officer | |||||||
Title | Title | |||||||
2/7/01 | 2-5-01 | |||||||
Date | Date |
FIRST AMENDMENT TO LEASE
This First Amendment to Lease (“Amendment”), is made and entered into this 23rd day of February, 2004 by and between Mission West Properties, L.P. III, a Delaware limited partnership (“Mission” or “Lessor”) and Intevac Corporation, a California corporation (“Lessee”).
RECITALS
A. | Lessee currently leases from Lessor approximately 119,583 square feet of space located at 3560-3580 Bassett Street, Santa Clara, California (the “Premises”) pursuant to that certain lease dated February 5, 2001 (the “Lease”). | |||
B. | The term of the Lease expires on March 31, 2007. | |||
C. | Lessee has elected and Mission has agreed to extend the term of Lease until March 31, 2012 subject to the terms and conditions set forth herein: |
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are acknowledged, the parties hereto agree to amend the Lease as follows:
1. | TERM: The term of the Lease is hereby extended for five (5) years until March 31, 2012.. | |||
2. | BASIC RENT: The base rent shall be adjusted to and payable on 4/1/07 as follows: |
Base rent | Estimated CAC | Total | ||||||||||
4/1/07 through 3/31/08 | $ | 113,604 | $ | 2,200 | $ | 115,804 |
*CAC subject to annual adjustment.
Monthly base rent to increase each year by the lesser of: (i) $.05 per square foot per month or (ii) the increase in the Bay Area Consumer Price Index, during the prior year on April 1 of each year during this extended term over the prior year’s rent rounded to the nearest dollar. (Example if consumer price increased by 7% from 4/1/07 to 3/31/08 then the amount of increase would be lesser of $.05 +.95 = $1.00 or $.95 x 107% = $1.0165 times 119,583.)
3. | COMMON AREA CHARGES: Lessee shall continue to pay to Mission its share of common area charges as provided for in the Lease during the extended term. | |||
4. | BROKERAGE COMMISSION: Each party represents and warrants to the other party that it has not utilized or contacted a real estate broker or finder with respect to this Amendment and each party agrees to indemnify and hold each other harmless against any claim, cost, liability or cause of action asserted by any broker or finder claiming through either party. Mission and Lessee agree that Mission shall not be obligated to pay any broker leasing commissions, consulting fees, finders fees or any other fees or commissions arising out of the negotiation and execution of this Amendment or relating to any extended term of the Lease or to any expansion or relocation of the Premises. |
5. | LESSEE CERTIFICATION: As a condition of Lessor’s agreeing to this Amendment, Lessee | |||
hereby certifies and confirms that as of the date of this Amendment, Lessee is not in violation of any government regulations, ordinances, rules or laws, including those pertaining to Hazardous Waste and/or Hazardous Materials. Lessee is accepting Premises in an “as is” condition. | ||||
6. | RATIFICATION OF LEASE: Except as modified herein, the Lease is hereby ratified, approved and confirmed upon all the terms, covenants, and conditions. | |||
7. | AUTHORITY: Each party executing this Amendment represents and warrants that he or she is duly authorized to execute and deliver this Amendment. If executed on behalf of a corporation, that this Amendment is executed in accordance with the by-laws of said corporation (or a partnership that this Amendment is executed in accordance with the partnership agreement of such partnership), that no other party’s approval or consent to such execution and delivery is required, and that this Amendment is binding upon said individual, corporation (or partnership) as the case may be in accordance with its terms. |
MISSION WEST PROPERTIES, L.P. III, a Delaware limited partnership | INTEVAC CORPORATION, a Delaware corporation | |||||
By: | /s/ Carl E. Berg | By: | /s/ Charles B. Eddy III | |||
Carl E. Berg | Charles B. Eddy III | |||||
Title: CEO of the General Partner | Title: CFO | |||||
Date: 2/24/04 | Date: 2/23/04 |
A. | Lessee currently leases from Lessor approximately 119,583 square feet of space located at 3560-3580 Bassett Street, Santa Clara, California (the “Premises”) pursuant to that certain lease dated February 5, 2001 and First Amendment To Lease dated February 23, 2004 (the “Lease”). | |
B. | Lessee has elected and Lessor has agreed to lease to Lessee a 10,000 square foot portion of 3510 Bassett Street in Santa Clara, California which is comprised of a total of approximately 18,304 square feet (the “Expansion Premises”) as described on Exhibit A: |
1. | TERM: The Lease Term for the Expansion Premises will be nine (9) months commencing July 1, 2005. | ||
2. | RENT: The Rent for the Expansion Premises shall be as follows: |
Base Rent | Estimated CAC* | Total Rent | ||||||||||
7/1/05 to 9/30/05 | $ | 4,000 | $ | 2,300 | $ | 6,300 | ||||||
10/1/05 to 3/31/06 | $ | 6,500 | $ | 2,300 | $ | 8,800 |
* | Estimated Common Area Charges (“CAC”). |
3. | TERMINATION OPTION: Lessee will have the one time right to terminate the Lease for the Expansion Premises upon delivering advance written notice to Lessor on or before October 1, 2005. | ||
4. | UTILITIES: Lessee will be responsible for 100% of the utilities for 3510 Bassett Street in Santa Clara, California during the Lease Term for the Expansion Premises. | ||
5. | BROKERAGE COMMISSION: Each party represents and warrants to the other party that it has not utilized or contacted a real estate broker or finder with respect to this Second Amendment and each party agrees to indemnify and hold each other harmless against any claim, cost, liability or cause of action asserted by any broker or finder claiming through either party. Lessor and Lessee agree that Lessor shall not be obligated to pay any broker leasing commissions, consulting fees, finder’s fees or any other fees or commissions arising out of the negotiation and execution of this Second Amendment or relating to any extended term of the Lease or to any expansion or relocation of the Premises. |
6. | LESSEE CERTIFICATION: As a condition of Lessor’s agreeing to this Second Amendment, Lessee hereby certifies and confirms that as of the date of this Second Amendment, Lessee is not in violation of any government regulations, ordinances, rules or laws, including those pertaining to Hazardous Waste and/or Hazardous Materials. Lessee is accepting the Expansion Premises in an “as is where is” condition. | ||
7. | RATIFICATION OF LEASE: Except as modified herein, the Lease is hereby ratified, approved and confirmed upon all the terms, covenants, and conditions. | ||
8. | AUTHORITY: Each party executing this Second Amendment represents and warrants that he or she is duly authorized to execute and deliver this Second Amendment. If executed on behalf of a corporation, that this Second Amendment is executed in accordance with the by-laws of said corporation (or a partnership that this Second Amendment is executed in accordance with the partnership agreement of such partnership), that no other party’s approval or consent to such execution and delivery is required, and that this Second Amendment is binding upon said individual, corporation (or partnership) as the case may be in accordance with its terms. |
MISSION WEST PROPERTIES, L.P. III, | INTEVAC CORPORATION, | |||||||
a Delaware limited partnership | a California corporation | |||||||
By Mission West Properties, Inc. | ||||||||
Its general partner | ||||||||
By: | /s/ R.V. Marino | By: | /s/ Charles B. Eddy | |||||
Print Name: R.V. Marino | Print Name: Charles B. Eddy | |||||||
Title: President & COO | Title: CFO | |||||||
Date: 7/1/05 | Date: 7/1/05 |
A. | Lessee currently leases from Lessor approximately 119,583 square feet of space located at 3560-3580 Bassett Street, Santa Clara, California (the “Premises”) pursuant to that certain lease dated February 5,2001 (the “Lease”). | |
B. | The term of the Lease expires on March 31, 2007. | |
C. | Lessee has elected and Mission has agreed to extend the term of Lease until March 31, 2012 subject to the terms and conditions set forth herein: |
1. | TERM: The term of the Lease is hereby extended for five (5) years until March 31, 2012. |
2. | BASIC RENT: The base rent shall be as shown below: |
Base rent | Estimated CAC | Total | ||||||||||
4/1/06 through 3/31/07 | $ | 276,992 | $ | 2,200 | $ | 279,192 | ||||||
4/1/07 through 3/31/08 | $ | 113,604 | $ | 2,200 | $ | 115,804 |
* | CAC subject to annual adjustment. |
3. | COMMON AREA CHARGES: Lessee shall continue to pay to Mission its share of common area charges as provided for in the Lease during the extended term. | ||
4. | BROKERAGE COMMISSION: Each party represents and warrants to the other party that it has not utilized or contacted a real estate broker or finder with respect to this Amendment and each party agrees to indemnify and hold each other harmless against any claim, cost, liability or cause of action asserted by any broker or finder claiming through either party. Mission and Lessee agree that Mission shall not be obligated to pay any broker leasing commissions, consulting fees, finders fees or any other fees or commissions arising out of the negotiation and execution of this |
Amendment or relating to any extended term of the Lease or to any expansion or relocation of the Premises. | |||
5. | LESSEE CERTIFICATION: As a condition of Lessor’s agreeing to this Amendment, Lessee hereby certifies and confirms that as of the date of this Amendment, Lessee is not in violation of any government regulations, ordinances, rules or laws, including those pertaining to Hazardous Waste and/or Hazardous Materials. Lessee is accepting Premises in an “as is” condition. | ||
6. | RATIFICATION OF LEASE: Except as modified herein, the Lease is hereby ratified, approved and confirmed upon all the terms, covenants, and conditions and supersedes prior amendments. | ||
7. | FIRST RIGHT OF OFFER TO LEASE: Lessor hereby gives Lessee the first right of offer to Lease the 47,480 sq. ft. building at 3550 Bassett, Santa Clara, Ca. upon the expiration of the Xicom Lease if they do not exercise their option to renew. The monthly NNN rent would 95% of fair market value at the time of the exercise of the first right of offer. The term would expire with on March 31, 2012. | ||
8. | AUTHORITY: Each party executing this Amendment represents and warrants that he or she is duly authorized to execute and deliver this Amendment. If executed on behalf of a corporation, that this Amendment is executed in accordance with the by-laws of said corporation (or a partnership that this Amendment is executed in accordance with the partnership agreement of such partnership), that no other party’s approval or consent to such execution and delivery is required, and that this Amendment is binding upon said individual, corporation (or partnership) as the case may be in accordance with its terms. |
MISSION WEST PROPERTIES, L.P. Ill, | INTEVAC CORPORATION, | |||||||||
a Delaware limited partnership | a California corporation | |||||||||
By: | /s/ Carl E. Berg | By: | /s/ Charles B. Eddy | |||||||
Carl E. Berg | ||||||||||
Title: CEO of the General Partner | Title: CFO | |||||||||
Date: April 1, 2006 | Date: April 1, 2006 |
A. | Lessee currently leases from Lessor approximately 119,583 square feet of space located at 3560-3580 Bassett Street, Santa Clara, California (the “Premises”) pursuant to that certain lease dated February5,2001, First Amendment to Lease dated February 23, 2004 and Second Amendment to Lease dated July 1, 2005 (the “Lease”). |
B. | Lessee currently leases a 10,000 square foot portion of 3510 Bassett Street in Santa Clara, California which is comprised of a total of approximately 18,304 square feet (the “Expansion Premises”) until March 31, 2006, and Lessee has requested to extend the Lease Term for the Expansion Premises. In addition, Lessor has completed a lease for the space adjacent to the Expansion Premises located at 3508 Bassett Street, and Lessor requires certain modifications to the Expansion Premises to provide for secured shared access to the dock area which will reduce the total square footage of the Expansion Premises from approximately 18,304 to 17,836 [17,368 + 468 (50% of shared dock area)] square feet. |
1. | EXPANSION PREMISES SECURED SHARED DOCK: Lessor, at Lessor’s cost, will modify the Expansion Premises to provide for secured shared access to the dock area for the Lessee and tenant occupying the adjacent space at 3508 Bassett Street as described on Exhibit A. | ||
2. | TERM: The Lease Term for the Expansion Premises will be extended nine (9) months commencing April 1, 2006 and ending December 31, 2006. |
3. | RENT: The monthly Rent for the Expansion Premises shall be as follows: |
Base Rent | Estimated CAC* | Total Rent | ||||||||||
4/1/06 to 12/31/06 | $ | 6,500 | $ | 2,300 | $ | 8,800 |
* | Estimated Common Area Charges (“CAC”). |
4. | UTILITIES: Lessee will be responsible for 100% of the utilities for 3510 Bassett Street in Santa Clara, California during the Lease Term for the Expansion Premises. | ||
5. | BROKERAGE COMMISSION: Each party represents and warrants to the other party that it has not utilized or contacted a real estate broker or finder with respect to this Third Amendment and each party agrees to indemnify and hold each other harmless against any claim, cost, liability or cause of action asserted by any broker or finder claiming through either party. Lessor and Lessee agree that Lessor shall not be obligated to pay any broker leasing commissions, consulting fees, finder’s fees or any other fees or commissions arising out of the negotiation and execution of this |
Third Amendment or relating to any extended term of the Lease or to any expansion or relocation of the Premises or Expansion Premises. | |||
6. | LESSEE CERTIFICATION: As a condition of Lessor’s agreeing to this Third Amendment, Lessee hereby certifies and confirms that as of the date of this Third Amendment, Lessee is not in violation of any government regulations, ordinances, rules or laws, including those pertaining to Hazardous Waste and/or Hazardous Materials. Lessee is accepting the Expansion Premises in an “as is where is” condition. | ||
7. | RATIFICATION OF LEASE: Except as modified herein, the Lease is hereby ratified, approved and confirmed upon all the terms, covenants, and conditions. | ||
8. | AUTHORITY: Each party executing this Third Amendment represents and warrants that he or she is duly authorized to execute and deliver this Third Amendment. If executed on behalf of a corporation, that this Third Amendment is executed in accordance with the by-laws of said corporation (or a partnership that this Third Amendment is executed in accordance with the partnership agreement of such partnership), that no other party’s approval or consent to such execution and delivery is required, and that this Third Amendment is binding upon said individual, corporation (or partnership) as the case may be in accordance with its terms. |
MISSION WEST PROPERTIES, L.P. III, | INTEVAC CORPORATION, | |||||||||
a Delaware limited partnership | a California corporation | |||||||||
By Mission West Properties, Inc. | ||||||||||
Its general partner | ||||||||||
By: | /s/ R.V. Marino | By: | /s/ Dennis M. Van Noy | |||||||
Print Name: R.V. MARINO | Print Name: Dennis M. Van Noy | |||||||||
Title: President & COO | Title: Facilities Manager | |||||||||
Date: 03/28/06 | Date: 23 March 2006 |
![](https://capedge.com/proxy/10-K/0000950134-07-005928/f28167f2816701.gif)
A. | Lessee currently leases from Lessor approximately 119,583 square feet of space located at 3560-3580 Bassett Street, Santa Clara, California (the “Premises”) pursuant to that certain lease dated February 5, 2001 (the “Lease”) as amended by amendments one thru four. |
B. | The term of the Lease expires on March 31, 2012 |
C. | Lessee has elected and Mission has agreed to add 50,000 sq. ft. at 3544 Bassett Street, Santa Clara to the lease for a total of 169,583 subject to the terms and conditions set forth herein: |
1. | BASIC RENT: The base rent shall be as shown below: |
Base rent | Estimated CAC | Total | ||||||||||
11/1/06 through 12/31/06 | $ | 276,992 | $ | 2,200 | $ | 279,192 | ||||||
1/1/07 through 3/31/07 | $ | 306,992 | $ | 3,200 | $ | 310,192 | ||||||
4/1/07 through 3/31/08 | $ | 143,604 | $ | 3,200 | $ | 146,804 |
* | CAC subject to annual adjustment. |
2. | COMMON AREA CHARGES: Lessee shall continue to pay to Mission its share of common area charges as provided for in the Lease during the extended term. | ||
3. | BROKERAGE COMMISSION: Each party represents and warrants to the other party that it has not utilized or contacted a real estate broker or finder with respect to this Amendment and each party agrees to indemnify and hold each other harmless against any claim, cost, liability or cause of action asserted by any broker or finder claiming through either party. Mission and Lessee agree that Mission shall not be obligated to pay any broker leasing commissions, consulting fees, finders fees or any other fees or commissions arising out of the negotiation and execution of this |
Amendment or relating to any extended term of the Lease or to any expansion or relocation of the Premises. | |||
4. | LESSEE CERTIFICATION: As a condition of Lessor’s agreeing to this Amendment, Lessee hereby certifies and confirms that as of the date of this Amendment, Lessee is not in violation of any government regulations, ordinances, rules or laws, including those pertaining to Hazardous Waste and/or Hazardous Materials, Lessee is accepting Premises in an “as is” condition. | ||
5. | RATIFICATION OF LEASE: Except as modified herein, the Lease is hereby ratified, approved and confirmed upon all the terms, covenants, and conditions and supersedes prior amendments. | ||
6. | OPTION TO EXTEND: Lessee shall have option to extend this Lease for one additional five (5) year term at Fair Market Value. | ||
7. | AUTHORITY: Each party executing this Amendment represents and warrants that he or she is duly authorized to execute and deliver this Amendment. If executed on behalf of a corporation, that this Amendment is executed in accordance with the by-laws of said corporation (or a partnership that this Amendment is executed in accordance with the partnership agreement of such partnership), that no other party’s approval or consent to such execution and delivery is required, and that this Amendment is binding upon said individual, corporation (or partnership) as the case may be in accordance with its terms. |
MISSION WEST PROPERTIES, L.P. III, | INTEVAC CORPORATION, | |||||||||
a Delaware limited partnership | a Delaware corporation | |||||||||
By: | /s/ Carl E. Berg | By: | /s/ Charles B. Eddy | |||||||
Carl E. Berg | ||||||||||
Title: CEO of the General Partner | Title: CFO | |||||||||
Date: 10/23/06 | Date: 10-27-06 |
A. | Lessee currently leases from Lessor approximately 119,583 square feet of space located at 3560-3580 Bassett Street and approximately 50,000 square feet located at 3544 Bassett Street, Santa Clara, California (the “Premises”) pursuant to that certain lease dated February 5, 2001 as amended by amendments one thru five (the “Lease’”). |
B. | Lessee also currently leases an approximately 10,000 square foot portion of 3510 Bassett Street, Santa Clara, California which is comprised of a total of approximately 17,836 square feet (the “Expansion Premises”) until December 31, 2006, and Lessee has requested to extend the Lease Term for the Expansion Premises. |
1. | TERM: The Lease Term for the Expansion Premises will be extended three (3) months commencing January 1, 2007 and ending March 31, 2007. | ||
3. | RENT: The monthly Rent for the Expansion Premises shall be as follows: |
Base Rent | Estimated CAC* | Total Rent | ||||||||||
1/1/07 to 3/31/07 | $ | 6,500 | $ | 2,300 | $ | 8,800 |
* | Estimated Common Area Charges (“CAC”). |
4. | UTILITIES: Lessee will be responsible for 100% of the utilities for 3510 Bassett Street in Santa Clara, California during the Lease Term for the Expansion Premises. | ||
5. | BROKERAGE COMMISSION: Each party represents and warrants to the other parry that it has not utilized or contacted a real estate broker or finder with respect to this Sixth Amendment and each party agrees to indemnify and hold each other harmless against any claim, cost, liability or cause of action asserted by any broker or finder claiming through either party. Lessor and Lessee agree that Lessor shall not be obligated to pay any broker leasing commissions, consulting fees, finder’s fees or any other fees or commissions arising out of the negotiation and execution of this Sixth Amendment or relating to any extended term of the Lease or to any expansion or relocation of the Premises or Expansion Premises. | ||
6. | LESSEE CERTIFICATION: As a condition of Lessor’s agreeing to this Sixth Amendment, Lessee hereby certifies and confirms that as of the date of this Sixth Amendment, Lessee is not in violation of any government regulations, ordinances, rules or laws, including those pertaining to |
Hazardous Waste and/or Hazardous Materials. Lessee is accepting the Expansion Premises in an “as is where is” condition. | |||
7. | RATIFICATION OF LEASE: Except as modified herein, the Lease is hereby ratified, approved and confirmed upon all the terms, covenants, and conditions. | ||
8. | AUTHORITY: Each party executing this Sixth Amendment represents and warrants that he or she is duly authorized to execute and deliver this Sixth Amendment. If executed on behalf of a corporation, that this Sixth Amendment is executed in accordance with the by-laws of said corporation (or a partnership that this Sixth Amendment is executed in accordance with the partnership agreement of such partnership), that no other party’s approval or consent to such execution and delivery is required, and that this Sixth Amendment is binding upon said individual, corporation (or partnership) as the case may be in accordance with its terms, |
MISSION WEST PROPERTIES, L.P. III, | INTEVAC CORPORATION, | |||||||||
a Delaware limited partnership | a California corporation | |||||||||
By Mission West Properties, Inc. | ||||||||||
Its general partner | ||||||||||
By: | /s/ R.V. Marino | By: | /s/ Charles B. Eddy | |||||||
Title: President & COO | Title: CFO | |||||||||
Date: 12/18/06 | Date:12-15-06 |