AMENDMENT TO ORIGINAL LEASE DATED JUNE 2, 1999 AND ADDENDUM III TO PROSPECT CENTER OFFICE LEASE
Exhibit 10.2(a)
AMENDMENT TO ORIGINAL LEASE
DATED JUNE 2, 1999
AND
ADDENDUM III TO
PROSPECT CENTER OFFICE LEASE
November 17, 1999
This amendment and addendum is attached to and made a part of the Prospect Center Office Lease dated June 2, 1999 by and between Prospect Center Corporation (“Landlord”) and RaceGate.com, a Delaware Corporation (“Lessee”) for suite #250, 304, 401 and 201, 1020 Prospect St., La Jolla CA 92037.
1. EXPANSION OF PREMISES: Suite #250 to be expanded into contiguous space for the new rental area of 5,000 square feet and the usable area of 4,348 square feet.
Suite #304 located on the 3rd floor of the building as shown on Exhibit G-2 with approximate rental area of 2,513 square feet and an approximate usable area of 2,185 square feet.
2. TERM: The original term of the lease to remain unchanged. The anticipated commencement date of this Amendment and Addendum III to be upon completion of tenant improvements or January 1, 2000, whichever is sooner. The lease ending date is not changed from July 31, 2002.
3. BASE MONTHLY RENT: Expanded Suite 250 - Eleven thousand two hundred fifty dollars ($11,250.00) ($2.25 per square foot of rentable area and $2.587 per square foot of usable area).
| Rental Adjustment: Suite | Adjustment Date: | Monthly Base | Square Foot Rate | |||||
| 250 | July 1, 2000 | $ | 11,500.00 | $ | 2.30 | |||
| 250 | July 1, 2001 | 11,750.00 | 2.35 | |||||
| 401 | July 1, 2000 | 3,105.00 | 2.30 | |||||
| 401 | July 1, 2001 | 3,172.50 | 2.35 | |||||
| 201 | June 15, 2001 | 7,038.00 | 2.55 | |||||
| 201 | June 15, 2002 | 7,176.00 | 2.60 | |||||
| 304 | Jan. 1, 2001 | 5,779.90 | 2.30 | |||||
| 304 | Jan. 1, 2002 | 5,905.55 | 2.35 | |||||
Suite 304 - Five thousand six hundred fifty-four and 25/100 dollars ($5,654.25) ($2.25 per square foot of rentable area and $2.587 per square foot of usable area).
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4. TENANT IMPROVEMENTS: The landlord at the landlord’s expense agrees to tenant improvements to the approximate 1501 square feet of new space for suite 250 making this area consistent with the tenant’s current office décor. Tenant improvements to suite 304 are to be completed at the landlord’s expense. These improvements per tenant’s request and as agreed to in the proposal by Rhule Construction Company on a regular time basis. All overtime, if any, by Rhule Construction Company and its subcontractors will be paid by Racegate, the tenant. Rhule Construction Company will keep separate records of all overtime.
5. PREPAID RENT: Upon lease execution, tenant shall pay Landlord the sum of $65,026.80 of which $40,710.60 shall be applied towards the Base Rent per schedule attached in Exhibit D and 24,316.20 shall be refunded upon review of RaceGate current balance sheet.
All other terms, covenants and conditions of this Lease shall remain in effect.
| LANDLORD: Prospect Centre Corp. | TENANT: RaceGate.com | |||||||
| By: | /s/ Illegible | By: | Scott Kyle | |||||
| Date: | Date: | 11/27//99 | ||||||
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RACEGATE - PREPAID RENT PER ITEM 10 OF BASIC LEASE PROVISIONS
LEASE DATED JUNE 2, 1999 AND
ADDENDUM III DATED 11/17/1999
| DATE | SUITE 250 | ADD’N STE 250 | SUITE 401 | STE 304 | SUITE 201 | TOTAL | ||||||||||||||
| 1ST MO | Aug-99 | $ | 7,872.75 | $ | 3,037.50 | 0 | 0 | $ | 10,910.25 | |||||||||||
| 2ND MO | Sep-99 | $ | 7,872.75 | $ | 3,037.50 | 0 | 0 | $ | 10,910.25 | |||||||||||
| 11TH MO | Jun-00 | 0 | $ | 5,654.25 | $ | 3,450.00 | $ | 9,104.25 | ||||||||||||
| 13TH MO | Aug-00 | $ | 8,047.70 | $ | 3,105.00 | $ | 5,779.90 | $ | 6,900.00 | $ | 23,832.60 | |||||||||
| 14TH MO | Sep-00 | $ | 8,047.70 | $ | 3,105.00 | $ | 5,779.90 | $ | 6,900.00 | $ | 23,832.60 | |||||||||
| 15TH MO | Oct-00 | $ | 8,047.70 | $ | 3,105.00 | $ | 5,779.90 | $ | 6,900.00 | $ | 23,832.60 | |||||||||
| 25TH MO | Aug-01 | $ | 8,222.65 | $ | 3,172.50 | $ | 5,905.55 | $ | 7,038.00 | $ | 24,338.70 | |||||||||
| 26TH MO | Sep-01 | $ | 8,222.65 | $ | 3,172.50 | $ | 5,905.55 | $ | 7,038.00 | $ | 24,338.70 | |||||||||
| 27TH MO | Oct-01 | $ | 8,222.65 | $ | 3,172.50 | $ | 5,905.55 | $ | 7,038.00 | $ | 24,338.70 | |||||||||
| TOTAL | $ | 64,556.55 | $ | — | $ | 24,907.50 | $ | 40,710.60 | $ | 45,264.00 | $ | 175,438.65 | ||||||||
| PREVIOUSLY PAID | $ | 134,728.05 | ||||||||||||||||||
| ADDENDUM III - BALANCE DUE - | $ | 40,710.80 | ||||||||||||||||||
