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EXHIBIT 10.25
SECOND AMENDMENT TO THE INDUSTRIAL LEASE-NET
1465 Batavia Street Orange, Ca
RECITALS
This Amendment is made with reference to the following facts:
A By that certain Lease, made July 1,1985 (the Original Lease) and the
First Amendment to the Lease dated February 2nd 1990 including all exhibits
attached thereto. Landlord leased to Tenant and Tenant leased from Landlord
those certain premises commonly known as 1465 N. Batavia Street City of Orange,
State of California and including 92,500 square feet of office and industrial
space comprising an entire building (the "Building") and described in the
Original Lease as Exhibit A, in the First Amendment.
B Landlord and Tenant desire to extend the current term of the Lease
until September 30, 2004 on terms and conditions set forth below.
C Tenant desires an option to extend the lease.
D Tenant desires to potentially construct an extension to the Building
and to certain alterations to the premises.
E Landlord and Tenant desire to make certain other modifications to the
Original Lease and to the First Amendment as set forth herein.
NOW THEREFORE in consideration of the mutual covenants herein contained,
the extension of the Original Lease and the First Amendment, considerations set
forth below, the parties agree to the following changes:
Changes to be made in the Original Lease
Par 3.1. TERM. The current term of the Lease is hereby extended until
September 30, 2004
Par 4. Delete (Restated in First Amendment)
Par 8.3 Replacement value is now $4,500,000
Par 49&50 Delete 49 & 50 (Restated in First Amendment)
Changes to be made in the First Amendment
Page 1 B Change to September 30, 2004
Page 1 1. Term extend to September 30, 2004
Page 2&3 D(i),(ii),(iii),(iv) All to be deleted (no longer applies)
Page 3 RENT 4(i), (ii), (iii) Delete
Page 4 B Change date to April 1, 2003
Page 4 C (i),(ii) Delete
Page 7 9A Date to be change to September 30, 2004
Page 9 exhibits: B, C, E to be deleted (No longer applies)
Based on the above changes to be made, the following is the Second
Amendment dated October 1, 1998
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LEASE TERMS
1 Extension of 5 years to the present lease, plus one (1) five year option.
2 For an 9 month period beginning the 1st month after the lease extension is
signed, the rent will be $.50 per square foot based on 92,500 sq. ft. with no
CPI increase.
3 Starting the 10th month from the execution of the lease extension, the
lease rent will be as follows:
$.575 per sq. ft. if the lease is signed by October 12, 1998
Starting the 10th month CPI increases would resume on the dates agreed to and
stated in the current lease namely CPI as of end March with payments starting
July 1st.
Silicon Valley Group Inc. LST Investment
Thermco Systems Division
/s/ Russell G. Weinstock /s/ K.A. Lang
Vice President of Finance and C.F.O.
Silicon Valley Group Inc.
Date 9/30/98 Date 11/8/98
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