Addendum to Office/Warehouse Lease Agreement between Cambridge Apartments, Inc. and Navarre Corporation

Summary

This addendum is an agreement between Cambridge Apartments, Inc. (the landlord) and Navarre Corporation (the tenant) regarding their existing office/warehouse lease for property at 7400 49th Avenue North, New Hope, Minnesota. The main purpose of this addendum is to formally set the lease expiration date as June 30, 2019. Both parties have signed to confirm this change. All other terms of the original lease remain unchanged.

EX-10.51 12 c86424exv10w51.txt ADDENDUM TO LEASE AGREEMENT EXHIBIT 10.51 ADDENDUM TO LEASE This Addendum to Lease is made by and between Cambridge Apartments, Inc., a Minnesota corporation ("Lessor"), and Navarre Corporation, a Minnesota corporation ("Lessee"). WHEREAS, Lessor and Lessee entered into a certain Office/Warehouse Lease dated April 1, 1998, as subsequently amended by that certain First Amendment to Lease dated April 1, 1998, and Second Amendment to Office/Warehouse Lease dated effective as of July 14, 2003 (collectively, the "Lease") pursuant to which Lessor has leased to Lessee certain premises located in the City of New Hope located at 7400 49th Avenue North, New Hope, Minnesota (the "Demised Premises"); and WHEREAS, Lessor and Lessee pursuant to the Second Amendment to Office/Warehouse Lease agreed to signed this Addendum to Lease identifying the Expiration Date of the Lease. NOW, THEREFORE, the Lessor and Lessee agrees as follows: 1. The Expiration Date of the Lease is June 30, 2019. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK SIGNATURE PAGE ON FOLLOWING PAGE] [SIGNATURE PAGE TO ADDENUDM TO LEASE AGREEMENT BETWEEN NAVARRE CORPORATION AND CAMBRIDGE APARTMENTS, INC.] IN WITNESS WHEREOF, Lessor and Lessee have caused this Addendum to Office/Warehouse Lease to be executed and delivered effective this 27th day of May, 2004. LESSOR: CAMBRIDGE APARTMENTS, INC. By: /s/ David Dahl ----------------------------------- Its: Executive Vice President LESSEE: NAVARRE CORPORATION By: ___________________________________ Its: __________________________________ [SIGNATURE PAGE TO ADDENUDM TO LEASE AGREEMENT BETWEEN NAVARRE CORPORATION AND CAMBRIDGE APARTMENTS, INC.] IN WITNESS WHEREOF, Lessor and Lessee have caused this Addendum to Office/Warehouse Lease to be executed and delivered effective this 27th day of May, 2004. LESSOR: CAMBRIDGE APARTMENTS, INC. By: ___________________________________ Its: __________________________________ LESSEE: NAVARRE CORPORATION By: [ILLEGIBLE] ____________________________ Its: [ILLEGIBLE] ____________________________