FIRST AMENDMENT TO COMMERCIAL LEASE AGREEMENT 2247 Lindsay Way, Glendora
Exhibit 10.6
FIRST AMENDMENT TO COMMERCIAL LEASE AGREEMENT
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THIS FIRST AMENDMENT TO COMMERCIAL LEASE AGREEMENT (this “Amendment”) is entered into
effective as of June 30, 2006, by and between M&D Investments, a California General Partnership
doing business as P.A.N.D.A. Investments (“Landlord”), and ▇▇▇▇▇ Industries, LLC, a California
limited liability company previously known as ▇▇▇▇▇ Acquisition, LLC (“Tenant”), with reference to
the following facts:
RECITALS
A. Landlord and ▇▇▇▇▇ P.A.N.D.A. Corporation, a California corporation doing business as ▇▇▇▇▇
Industries, Inc. (“Original Tenant”), were parties to that certain Commercial Lease Agreement dated
for reference purposes December 15, 2005 (the “Original Lease”), affecting 5000 square feet
(the “Original Square Footage”) constituting the Premises located in that certain commercial and
industrial building at the real property commonly known as at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇,
▇▇▇▇▇▇▇▇▇▇ . Capitalized terms used in this Amendment and not defined herein shall have the same
definitions as set forth in the Lease.
B. Concurrently herewith, Original Tenant has merged into Tenant and as part of that
transaction, Landlord and Tenant desire to amend the Lease in order to, among other things, extend
the Term and modify the Rent to be paid by Tenant during the remainder of the term, as extended.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties agree as follows:
1. Extension of Term. Landlord and Tenant agree that the term is hereby extended an
additional three (3) years and that Section 2. A. of the Lease is hereby amended to provide that
the Lease shall terminate on December 31, 2009, unless sooner terminated in accordance with the
terms of the Lease
2. Rent. Commencing January 1, 2007, and continuing thereafter, the monthly Base Rent
for the Original Square Footage under the Lease shall increase by three percent (3%) each year so
that (a) the monthly Base Rent for the Original Square Footage during 2007 shall be $3605; (b) the
monthly Base Rent for the Original Square Footage during 2008 shall be $3713.15; and (c) the
monthly Base Rent for the Original Square Footage during 2009 shall be $3824.55.
3. Additional Space. If additional space is available for rent at the facility where
the Premises are located, Tenant shall have the option, exercisable upon ten days written notice to
Landlord, to rent the space on the same terms and conditions stated in the Lease, as amended by
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this Amendment, at the monthly rental rates for such additional square footage provided
hereinafter and such additional square footage shall be included in the definition of the Premises
and the amount of such additional rent shall be included in the definition of Base Rent for
purposes of the Lease.. The following monthly rental rate per square foot shall apply to such
additional square footage with three percent (3%) annual increases after 2006: (a) for the year
2006, the monthly rental rate for office space shall be $1.10 per square foot and for warehouse
space shall be $0.50 per square foot; (b) for the year 2007, the monthly rental rate for office
space shall be $1.13 per square foot and for warehouse space shall be $0.52 per square foot; (c)
for the year 2008, the monthly rental rate for office space shall be $1.16 per square foot and for
warehouse space shall be $0.53 per square foot; (d) for the year 2009, the monthly rental rate for
office space shall be $1.20 per square foot and for warehouse space shall be $0.55 per square foot.
4. Construction. Headings at the beginning of each Section of this Amendment are
solely for the convenience of the parties and are not part of this Amendment.
5. Ratification. Except as otherwise specifically amended herein, the Lease is and
shall remain in full force and effect according to its terms. In the event of any conflict between
the Lease and this Amendment, the terms of this Amendment shall control.
6. Authority. Landlord and Tenant each represent and warrant to the other that the
individual(s) executing this Amendment on their respective behalf has been duly authorized to take
such action.
7. Counterparts. This Amendment may be executed in several counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same
agreement.
IN WITNESS WHEREOF, the parties have caused their duly authorized officer(s), member(s) or
partner(s) to execute and deliver this Amendment effective as of the date first set forth above.
| “LANDLORD” | M&D Investments, a California General Partnership | |||||
| doing business as P.A.N.D.A. Investments | ||||||
| By: | /s/ ▇▇▇▇▇▇ ▇▇▇▇▇
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| “TENANT” | ▇▇▇▇▇ Industries, LLC, a California limited liability | |||||
| company | ||||||
| By: | /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
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