EXHIBIT 10.1(a)
SEVENTH AMENDMENT TO LEASE
THIS AGREEMENT, made and entered into this 15th day of May, 1996, by and
between Newmarket Partners III, Limited, a Georgia Limited Partnership, whose
general partners are Laing Properties, Inc. and Laing Management Company
(hereinafter called "Landlord") and CryoLife, Inc., a Florida corporation
(hereinafter called "Tenant").
WITNESSETH THAT:
WHEREAS, Landlord and Tenant entered into a certain Lease Agreement dated
February 13, 1986, as amended April 7, 1986, May 15, 1987, June 22, 1988, April
4, 1989, October 15, 1990, and March 14, 1995 (collectively hereinafter "Lease")
for Suites 122 through 150 (hereinafter "Premises") at 2211 Newmarket Parkway,
Building 8, Marietta, Georgia 30067.
WHEREAS, Tenant desires to reduce the size of the Premises and extend the
Term of the Lease, and;
WHEREAS, Landlord and Tenant desire to amend the Lease in order to modify
some of the other terms and conditions of the Lease;
NOW, THEREFORE in consideration of the mutual agreements of the undersigned
and other good valuable consideration, this Lease is hereby amended, effective
December 1, 1996 as follows:
42. BROKER DISCLOSURE
Pursuant to Georgia Real Estate Commission Regulation 520-1-08, Laing
Marketing Company makes the following disclosures concerning this Lease
transaction:
a) In this transaction, Laing Marketing Company represents Landlord
and not Tenant.
b) In this transaction, Richard Bowers and Company represents Tenant
and not Landlord.
c) In this transaction, both Laing Marketing Company and Richard
Bowers and Company shall receive their compensation from Landlord
exclusively.
Both Tenant and Landlord acknowledge, agree with and consent to the
representation and compensation disclosed above.
43. Paragraph 2, Term, of the Lease shall be amended to read:
To have and to hold the same for the term to commence on December 1,
1996 and ending on the 30th day of November, 1999, at midnight unless
sooner terminated as hereinafter provided.
44. Paragraph 3, Rental, of the Lease shall be amended to read:
The Tenant agrees to pay to the Landlord promptly on the first day of
each month in advance, during the term of this Lease, a monthly rental
as follows:
December 1, 1996 through November 30, 1997 @ $13,342.88 per month
December 1, 1997 through November 30, 1998 @ $13,876.59 per month
December 1, 1998 through November 30, 1999 @ $14,431.65 per month
Payments received after the tenth day of the month may be assessed an
additional five percent (5%) charge as agreed liquidated damages due
Landlord. Acceptance by Landlord of a rental payment in an amount less
than that which is currently due shall in no way affect Landlord's
rights under this Lease and in no way be an accord and satisfaction.
45. Paragraph 1, Premises, of the Lease shall be amended to read:
The Landlord, for and in consideration of the rents, covenants,
agreements, and stipulations hereinafter mentioned, reserved and
contained, to be paid, kept and performed by the Tenant, has leased and
rented, and by these presents does lease and rent, unto the Tenant, and
the Tenant hereby agrees to lease and take upon the terms and
conditions which hereinafter appear, the following described space
(herein called the "Premises").
Project: Newmarket Business Park Building: Eight (8)
Address: 2211 Newmarket Parkway Suite: 134, 136, 138, 140, 142, 144
City: Marietta Rentable Square Feet: 18,837
County: Cobb State: Georgia
Premises are more particularly shown on Exhibit "A-1", attached hereto and made
a part hereof.
46. COMMON AREA MAINTENANCE EXPENSE
Paragraph 12, Common Area Maintenance, of the Lease shall be amended to
read:
Landlord shall maintain and keep clean all common areas of the site
shown on Exhibit "B-1" which is attached hereto and made a part hereof
including grounds, landscaping drives, parking and loading areas. Tenant
shall reimburse Landlord for Tenant's share of the cost of maintaining
the common areas of the Building. Tenant shall pay Landlord for its
share of Common Area Maintenance expense at a rate of $0.65 per rentable
square foot, per year, payable in equal monthly payments along with
monthly rental. The Common Area Maintenance expense shall be escalated
the same time and manner as the rentals hereunder are increased.
47. TENANT IMPROVEMENTS
Tenant agrees to lease the Premises in an "as-is" condition. Tenant
shall be solely responsible for the cost of any improvements; such
improvements shall be subject to Landlord's prior approval. Landlord, at
Landlord's cost, shall provide for demising the Premises, isolating and
installing the electrical service, heating and cooling system and gas
service.
Except as herein amended, all terms and conditions of the Lease shall
remain in full force and effect.
IN WITNESS WHEREOF, the parties hereunto have executed this Seventh
Amendment to Lease as of the day and year first above written.
Signed, sealed and delivered in the LANDLORD: Newmarket Partners III,
presence of: Limited, a Georgia Limited Partnership,
whose general partners are Laing
Properties, Inc. and Laing Management
Company
BY: LAING PROPERTIES, INC.
______________________________ MANAGING GENERAL PARTNER
Witness
BY:___________________________________
TITLE:________________________________
______________________________
Notary Public ATTEST:_______________________________
TITLE:________________________________
Signed, sealed and delivered in the TENANT: CryoLife, Inc., a Florida
presence of: corporation
_______________________________ BY:___________________________________
Witness
TITLE:________________________________
_______________________________
Notary Public ATTEST:_______________________________
TITLE:________________________________
EXHIBIT "A-1"
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EXHIBIT "B-1"
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