Lease Agreement between Island Pacific, Inc. and Protea La Jolla Corporate Center, LLC for 3252 Holiday Court, Suite 226
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Summary
Island Pacific, Inc. has entered into a five-year lease with Protea La Jolla Corporate Center, LLC for approximately 6,446 square feet at 3252 Holiday Court, Suite 226, La Jolla, California. The lease runs from April 1, 2007, to March 31, 2012, with annual increases in monthly rent starting at $17,726 and rising to $20,738. Island Pacific is responsible for 10.04% of operating expenses exceeding those of 2007 and must provide a security deposit of $20,738.
EX-10.18 5 islandpac_10k-ex1018.txt LA JOLLA LEASE SUMMARY EXHIBIT 10.18 ISLAND PACIFIC, INC. LA JOLLA LEASE SUMMARY Lease Date: February 27, 2007 Landlord: Protea La Jolla Corporate Center, LLC Address of Landlord: 3250 Holiday Court, Suite 100 La Jolla, CA 92037 Premises: Approximately 6,446 square feet Premises Address: 3252 Holiday Court, Suite 226 La Jolla, CA 92037 Term: 5 Years Monthly Rent: April 1, 2007 - March 31, 2008 $17,726 April 1, 2008 - March 31, 2009 $18,436 April 1, 2009 - March 31, 2010 $19,173 April 1, 2010 - March 31, 2011 $19,940 April 1, 2011 - March 31, 2012 $20,738 Estimated Operating Expenses: Excess over 2007 calendar year Tenant's Percentage: 10.04% Cash Security Deposit: $20,738
