Addendum to Commercial Lease Agreement between Cruiser Lane LLC and Xtant Medical, Inc. (December 3, 2018)

Contract Categories: Real Estate › Lease Agreements
Summary

This addendum modifies the commercial lease between Cruiser Lane LLC (Landlord) and Xtant Medical, Inc. (Tenant), formerly Bacterin International Holdings, Inc. The lease term is set for five years from February 1, 2019, to February 1, 2024. The Tenant has the option to terminate early after three or four years with 120 days' notice and a termination fee (six months’ rent after three years, three months’ rent after four years). Rent is $8.00 per square foot for the first three years, increasing to $8.50 for the last two years. All other original lease terms remain unchanged.

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EX-10.31 3 ex10-31.htm

 

Exhibit 10.31

 

ADDENDUM TO COMMERCIAL LEASE BETWEEN

CRUISER LANE LLC AND BACTERIN INTERNATIONAL HOLDINGS, INC.

(aka, XTANT MEDICAL, INC.)

 

DATED: December 3, 2018

 

The parties to this Addendum to Commercial Lease are Cruiser Lane, LLC hereinafter known as Landlord and Xtant Medical, Inc. , formerly known as Bacterin International Holdings, Inc., now referred to hereinafter as Tenant.

 

1.Term:A term of five (5) years, commencing February 1, 2019 through February 1, 2024, unless otherwise renewed by mutual agreement of both parties. Landlord agrees to extend an early termination option, to Tenant, after the completion of the third year. Early termination requires Tenant to extend to Landlord, a 120-day notice and an early termination fee equal to six (6) months’ rent commencing the day the building is vacated. Tenant may, exercise said early termination option at the end of the fourth year, with a 120 day notice and three (3) months’ rent, early termination fee, commencing the day the building is vacated.
   
2.Rents:A flat rate of $8.00 per square foot, for the first three years of said contract. The rate would increase to $8.50 per square foot for the remaining two years of the contract.
   
3.All other terms and addendums, of the original contract, dated February 1; 2012 remain in full force and effect.

 

Signed and dated:

 

/s/ Ronald R. Pierzina   Date 12-3-2018
Ronald R Pierzina      
Managing Partner      
Cruiser Lane, LLC      
       
/s/ Laura J Pierzina   Date 12-3-2018
Laura J Pierzina      
Managing Partner      
Cruiser Lane, LLC      
       
/s/ Kathie Lenzen   Date 12-7-2018
Kathie Lenzen      
Chief Financial Officer      
Xtant Medical, Inc.