Exhibit 10.47
NOTICE OF ELECTION TO EXTEND TERM OF LEASE
AIR Commercial Real Estate Association
Dated: July 29, 2010
By and Between (Lessor)
Crest Development LLC formerly Freeway Ventures LLC
And (Lessee)
Simulations Plus, Inc.
Address of Premises: 42505 10th Street West, Lancaster, CA 93534
To the Lesser:
Notice is hereby given that Lessee irrevocably elects to exercise its option to extend the term of this Lease by 3 years, ie. from February 3, 2011 to February 2, 2014.
Please acknowledge receipt of this Notice in the space provided below and return a copy to Lessee via Email, or telefax.
Lessee:
Simulations Plus, Inc.
BY: /s/ Momoko Beran
Name Printed: Momoko Beran
Title: CFO
Lessor hereby acknowledges that it received this Notice on Lessor:
Crest Development LLC
BY: /s/ Gary Shaffer
Name Printed:Gary Shaffer
Title: Owner