COMMERCIAL LEASE ADDENDUM
Exhibit 10.16
This Addendum to the Commercial Lease Agreement (this “Agreement”) is made this 1st day of May, 2022, by and between STVentures LLC, an entity located at ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ (“Landlord”) and Syra Health Corp, an entity located at ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ (“Tenant”). In consideration of the mutual covenants herein contained, the parties agree as follows:
| 1. | Demised Premises. The premises leased shall consist of an office space in the building complex (the “Real Property”) located at ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ (the “Demised Premises”), Depicted and shown in Exhibit A-1 attached hereto and made part of. |
| A) | Size of Premises. The Demised Premises consists of approximately Five Thousand Nine Hundred and Seventy Eight (5978) square feet. The square footage of the Demised Premises shall be determined by measuring from the outside of all exterior walls to the centerline of any demising walls. ▇▇▇▇▇▇▇▇’s architect or building contractor may measure the Demised Premises to make a final determination of the size. |
| 2. | Term of Lease. The term of this Agreement is for Twenty six (26) months |
Commencement Date: The later of substantial completion of the demised premises or 1st May, 2022 (“Commencement Date”) to 30th June, 2024
Expiration Date; Twenty Six (26) months from the commencement date as further set forth in Section 5 of Commercial lease Agreement.
| 3. | Rental Terms. With respect to the terms of the rental: |
| A) | Base Rent. Tenant shall pay to Landlord, from the Commencement Date and throughout the term of this Agreement, payable on a monthly basis (“Base Rent”) as listed below. Base Rent is due no later than the 1st day of the payment period. Base Rent is payable by Drop it off upstairs, or as otherwise agreed upon by the parties. |
| Months of Term | Base Annual Rent | PSF | Monthly Installment | |||||||||
| Month 1 - 26 | $ | 128,527 | $ | 21.50 | $ | 10,710.58 | ||||||
All other terms and conditions of the Commercial lease agreement will remain in full force and effect unless otherwise agreed upon in writing by the parties.
INITIAL VD DATE _____
Addendum
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IN WITNESS WHEREOF, the parties have caused this Addendum to be executed by their duly authorized representatives, as of the first date written above.
| ST Ventures LLC | /s/ ▇▇▇▇ ▇▇▇▇▇ | ▇▇▇▇ ▇▇▇▇▇ – Owner | ||
| Landlord Name | Representative Signature | Representative Name and Title | ||
| Syra Health Corp | /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ | ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ – CEO | ||
| Tenant Name | Representative Signature | Representative Name and Title |
INITIAL VD DATE _____
Addendum
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INITIAL VD DATE _____
Addendum
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Commercial Lease Agreement