Second Amendment and Partial Termination of Lease Agreement between Three Sisters Ranch Enterprises and Conceptus, Inc.

Contract Categories: Real Estate › Lease Agreements
Summary

This agreement is between Three Sisters Ranch Enterprises (landlord) and Conceptus, Inc. (tenant). It partially terminates the tenant's lease for two units (981 B and 981 D Industrial Road) at the San Carlos Business Park, effective December 1, 1997. Conceptus, Inc. agrees to pay a termination fee of $89,557.50 and must vacate the premises in clean condition, returning all keys. All other terms of existing leases remain unchanged, but failure to pay the termination fee will be treated as a default under all leases.

Read More Arrow
EX-10.23 7 dex1023.txt SECOND AMENDMENT TO LEASE AGREEMENT WITH THREE SISTERS RANCH Exhibit 10.23 THREE SISTERS RANCH ENTERPRISES LEASE ADDENDUM & PARTIAL TERMINATION AGREEMENT TENANT Conceptus, Inc. TENANT'S ADDRESS: 981 Industrial Road San Carlos, CA 94070 LANDLORD: Three Sisters Ranch Enterprises LANDLORD'S ADDRESS: P.O. Box 1444 San Carlos, CA 94070 Project: San Carlos Business Park Description That six (6) building project totaling approximately 123,280 square feetcommonly known as San Carlos Business Park, San Carlos, California LEASE TERMINATION: Tenant, by this Addendum, terminates its right of use or occupancy as to 981 B and 981 D Industrial Road, San Carlos (approximately 11,941 square feet +/-) as part of the demised Premises as of December 1,1997; Tenant shall pay the sum of $89,557.50 as a termination fee (an agreed upon sum based upon a calculation of six months' rent composed of six times the sum of $12,538.05 of monthly base rent and $2,388.20 of monthly CAM costs); Tenant shall leave the Premises in broom swept clean condition free of debris and shall return all keys to Landlord; all terms and conditions of the other existing leases between Landlord and Tenant shall remain the same except failure to make payment hereunder at time of execution shall constitute a default under all existing leases with Landlord and shall be treated as failure to pay Rent. THREE SISTERS RANCH ENTERPRISES "Landord" /s/ Martin E. Ruberry - ------------------------------------- Martin E. Ruberry General Manager CONCEPTUS, INC. By: /s/ Kathryn Tunstall ---------------------------------- Kathryn Tunstall, President and CEO