Amendment No. 1 to Master Lease Agreement between Scrub Oak, LLC and Nu Skin International, Inc.

Contract Categories: Real Estate › Lease Agreements
Summary

This amendment updates the lease agreement between Scrub Oak, LLC (landlord) and Nu Skin International, Inc. (tenant) for warehouse space at 1070 South 350 East, Provo, Utah. The lease is renewed for five years starting July 1, 2003, and ending June 30, 2008, with specified monthly rent increases each year. The premises are to be used for general warehouse storage, fleet maintenance, and related activities. There are no further renewal terms included in this amendment.

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EX-10.42 5 ex10-42.htm A1 MASTER LEASE SCRUB OAK Master Lease Agreement NSE and Scrub Oak AMENDMENT NO. 1 TO THE
MASTER LEASE AGREEMENT

[Scrub Oak, LLC]

        THIS AMENDMENT NO. 1 TO THE MASTER LEASE AGREEMENT (hereinafter the “Amendment”), effective as of the 1st day of July, 2003, by and between SCRUB OAK, LLC, a Utah limited liability company, whose address is 75 West Center Street, Provo, Utah 84601, ATTN: Brooke Roney (hereinafter “Landlord”) and NU SKIN INTERNATIONAL, INC., a Utah corporation, whose address is 75 West Center Street, Provo, Utah 84601 (hereinafter “Tenant”).

R E C I T A L S:

    A.        Tenant has the right to renew certain leases to the premises identified on Schedule A to this Amendment (the “Premises”).

    B.        Tenant desires to renew such leases of the Premises from Landlord.

    C.        The parties desire to amend the Master Lease Agreement with respect to the Premises to reflect the renewal terms of the lease.

NOW, THEREFORE, in consideration of the rents, covenants and agreements hereinafter set forth, Landlord and Tenant mutually agree to the amended terms and conditions for the Premises set forth on Schedule A attached hereto.

SCHEDULE A

to

AMENDMENT NO. 1 TO THE MASTER LEASE

[Scrub Oak, LLC]

ANNEX “B”

1.     Commencement Date: July 1, 2003

2.     Premises: All of Annex B located at 1070 South 350 East

3.     Expiration Date: June 30, 2008

4.     Term: Five (5) years.

5.     Renewal Terms: None

6.     Monthly Rent:

MONTHS
 MONTHLY RENT
  1-12   $     7,312 .50
13-24  7,495 .31
25-36  7,682 .69
37-48  7,874 .76
49-60  8,071 .63

7.     Permitted Use: General warehouse storage, fleet maintenance and related uses.

        LANDLORD AND TENANT have executed this Amendment to the Lease effective as of the day and year first above written.

LANDLORD:

SCRUB OAK, LLC
by its Manager:

By:    /s/ Brooke B. Roney
Brooke B. Roney
Manager

TENANT

NU SKIN INTERNATIONAL, INC.

By:    /s/ D. Matthew Dorny
D. Matthew Dorny
Vice President and General Counsel