ADDENDUM IV May 2, 2005 Extension of Term and payment of Base Rent
Exhibit 10.17
ADDENDUM IV
May 2, 2005
Extension of Term and payment of Base Rent
Lessor: | The Richard Oppenheimer Living Trust, the Maurice Oppenheimer Living Trust and the Helene Oppenheimer Living Trust | |
C/o Castle Management | ||
12885 Alcosta Blvd. Ste. A | ||
San Ramon, CA 94583 | ||
Lessee: | Tut Systems, Inc. | |
5200 Franklin Drive Ste. 100 | ||
Pleasanton, CA 94588 | ||
Premises: | 5200 Franklin Dr., Suite 100, Pleasanton, CA 94588, Commercial Office Space of approximately 17,100+/- square feet, with parking. |
The following terms are intended to modify those provisions set forth in the Lease Dated 11/20/02, as modified by the Addendum, Addendum II and Addendum III as follows:
Term: The Lease Term shall be extended an additional twenty four (24) months commencing July 1, 2005 and ending June 30, 2007.
Base Rent: The Base Rent for months 1 through 12 of the extended term shall be $15,817.50 per month. The Base Rent for months 13 through 24 of the extended term shall increase to $16,672.50 per month. Base Rent shall be payable by Lessee to Lessor in the same manner as before and shall be subject to all other provisions of the Lease Agreement including payment of the Lease Agreement previously set forth and contained herein, including but not limited to Common Area Operating Expenses and Real Property Taxes, currently estimated to run $0.51 per square foot per month). (See paragraphs 4.2 and 10 of the Lease).
By Lessor: | /s/ Richard Oppenheimer | |
Richard Oppenheimer | ||
Trustee | ||
By Lessee: | /s/ Salvatore DAuria | |
Salvatore DAuria | ||
Chairman of the Board | ||
Tut Systems, Inc. |