Exhibit 10.3.2
AMENDMENT NO. 2 TO LEASE AGREEMENT
This Amendment No. 2 dated as of DECEMBER 16TH, 1998, is made by and
between FIRST AND LENORA, LLC a Washington Limited Liability Company
("Landlord") and THE COBALT GROUP, INC., a Washington Corporation ("Tenant").
RECITALS
A. David A. Edelstein and Nancy Jo Edelstein (then Landlord) and Tenant
executed a certain Lease, dated 14th day of September, 1996, for the lease
of certain office space in the building commonly known as the First &
Lenora Building, and an Amendment to Lease No. 1, dated April 21, 1998, for
the purpose of expanding the original leased space.
B. The Office Lease Agreement is referred to herein as "Lease."
C. Landlord is the successor in interest to David A. Edelstein and Nancy Jo
Edelstein.
D. The space added to the current rentable area of the Premises as a result of
this amendment shall be referred to as the "Second Expansion Space."
AGREEMENT
It is therefore agreed as follows:
1. SECTION 1.1 PREMISES is amended to increase the current net
rentable area of 21,592 rentable square feet (RSF) leased by Tenant to
include the 1,857 RSF formerly occupied by Coupe Rokei on the ground
floor.
The adjusted rentable square footage for the entire Premises as of
this amendment shall be 23,449 RSF.
2. SECTION 2.2 TERM The lease term for the Second Expansion Space
shall begin January 1, 1999, and expire coterminous with the initial
lease expiration date of October 31, 2000.
3. SECTION 2.1 MINIMUM RENT (for the entire Premises, including the
Second Expansion Space)
Month(s) square footage monthly rental amount
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Month 1 23,449 RSF $26,608.80
Months 2-22 23,449 RSF $32,817.30
The total adjusted Minimum Rent for the entire Premises is $32,817.30
per month plus any past or future adjustments due to an increase in
operating costs passed through to Tenant as part of the Lease. The
Minimum Rent for the third floor of the Premises is calculated as a
fully serviced lease pursuant to the terms of the Lease. The Minimum
Rent for the ground floor is calculated as a partially serviced lease
with Tenant responsible for payment of its own separately metered
electrical services.
4. TENANT IMPROVEMENTS
Tenant shall occupy the Premises on an "as is" basis. Any
improvements to the Premises shall be at the cost of Tenant.
5. EXTERIOR BUILDING CONSTRUCTION
Tenant acknowledges that during the course of this lease Landlord may
begin significant construction on the exterior of the building. While
Landlord shall use its best efforts to minimize any disruption to
Tenant's premises, it is expected that such work shall be of
inconvenience to Tenant during that period. Tenant agrees and
understands that this may be the case and understands that short of
Landlord's negligence, Tenant shall have no right to rental offset or
abatement during the term of this lease. However in no event shall
Landlord's construction work materially effect Tenant's ability to
conduct normal business operations within the Premises.
Except as set forth in this Amendment No. 2 all provisions of the
Lease and the remainder of each Section referenced above shall remain
unchanged and in full force and effect.
DATED this 16TH day of DECEMBER, 1998.
TENANT: LANDLORD:
THE COBALT GROUP, INC. FIRST AND LENORA, LLC.
A Washington Corporation a Washington limited liability company
By: /s/ D Douglass By: /s/ John Teutsch
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John Teutsch
Its:VP-Ops & CFO Its:Managing Member
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STATE OF WASHINGTON )
) ss
COUNTY OF KING )
On this 16TH day of DECEMBER, 1998, before me personally appeared JOHN
TEUTSCH, to me known to be the MANAGING MEMBER of FIRST AND LENORA, LLC., a
Washington limited liability company, which executed the within and foregoing
instrument, and acknowledged said instrument to be the free and voluntary act
and deed of said partnership, for the uses and purposes therein mentioned, and
on oath stated that he was authorized to execute said instrument on behalf of
said partnership.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year first above written.
[NOTARY SEAL OF
ANDREA L. SIEGEL] /s/ Andrea L. Siegel
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Notary Public
Commission Expires: 5-24-02
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STATE OF WASHINGTON )
) ss
COUNTY OF KING )
On this 16TH day of DECEMBER, 1998, before me personally appeared DAVID
DOUGLASS, to me known to be the V.P. OF OPERATIONS AND CFO of THE COBALT GROUP,
INC., a Washington corporation, which executed the within and foregoing
instrument, and acknowledged said instrument to be the free and voluntary act
and deed of said partnership, for the uses and purposes therein mentioned, and
on oath stated that he was authorized to execute said instrument on behalf of
said partnership.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year first above written.
[NOTARY SEAL OF
ANDREA L. SIEGEL] /s/ Andrea L. Siegel
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Notary Public
Commission Expires: 5-24-02
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