Amendment to Lease Agreement between NP#2, LLC and IOMED, Inc. dated September 20, 2004
This amendment updates the lease agreement between NP#2, LLC (landlord) and IOMED, Inc. (tenant) for office and warehouse space in West Valley City, Utah. The lease term is extended until December 31, 2012, and the minimum rent schedule is revised with specific monthly and annual amounts for each year through the new end date. All other terms of the original lease remain unchanged.
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EXHIBIT 10.13
AMENDMENT TO LEASE AGREEMENT
This Amendment to Lease Agreement is made and entered into this 20th day of September, 2004, by and between NP#2, LLC, a Utah Limited Liability Company, (Landlord), and IOMED, INC, a Utah Corporation ("Tenant").
WHEREAS, on May 22th 2000, a Lease Agreement (the lease) was entered into between Landlord and Tenant, relating to certain real property situated at 2441 South 3850 West, West Valley City, Salt Lake County, state of Utah, consisting of approximately 34,000 square feet of office/warehouse space, as further described in the Lease.
WHEREAS, Landlord and Tenant are desirous to amend the said Lease.
NOW, THEREFORE, for an in consideration of the payment of Ten Dollars and No Cents ($10.00) and other good and valuable consideration to Landlord, the receipt and sufficiency of which is hereby acknowledged, the parties mutually agree as follows:
- 1.
- The term of the Lese shall be extended until December 31, 2012.
- 2.
- ARTICLE 6.1 Minimum Rent shall be revised and rewritten in its entirety as follows:
| Period | Month | Monthly | Annual | |||||
|---|---|---|---|---|---|---|---|---|
| October 1 - December 31, 2004 | 3 | $ | 20,258.00 | $ | 60,774/yr net/net/net | |||
| January 1 - December 31, 2005 | 12 | $ | 20,663.00 | $ | 247,956/yr net/net/net | |||
| January 1 - December 31, 2006 | 12 | $ | 21,828.00 | $ | 261,936/yr net/net/net | |||
| January 1 - December 31, 2007 | 12 | $ | 21,921.00 | $ | 263,052/yr net/net/net | |||
| January 1 - December 31, 2008 | 12 | $ | 22,580.00 | $ | 270,960/yr net/net/net | |||
| January 1 - December 31, 2009 | 12 | $ | 23,256.00 | $ | 279,072/yr net/net/net | |||
| January 1 - December 31, 2010 | 12 | $ | 23,954.00 | $ | 287,448/yr net/net/net | |||
| January 1 - December 31, 2011 | 12 | $ | 24,673.00 | $ | 296,076/yr net/net/net | |||
| January 1 - December 31, 2012 | 12 | $ | 25,413.00 | $ | 304,956/yr net/net/net | |||
- 3.
- All the terms, covenants and provisions of the Lease Agreement shall remain unchanged and shall continue in full force and effect except as specifically amended herein.
Rental shall be payable in equal monthly payments, in advance, without offset or demand on the first day of each calendar month.
EXECUTED the day and year first above written.
| LANDLORD: | NP #2 LLC |
By /s/ F.C. STANGL F.C. Stangl, Manager Member | |
TENANT: | IOMED Inc. a Utah Corporation |
By /s/ BRIAN MOWER Brian Mower, Chief Accounting Officer |
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- EXHIBIT 10.13
