FSI INTERNATIONAL INC
10-K, 1999-11-24
SPECIAL INDUSTRY MACHINERY, NEC
Previous: FSI INTERNATIONAL INC, 10-K, 1999-11-24
Next: FSI INTERNATIONAL INC, 10-K, 1999-11-24

QuickLinks


Exhibit 10.7


SECOND AMENDMENT TO LEASE

    THIS SECOND AMENDMENT TO LEASE is made and entered into as of this 31st day of July, 1999, by and between Lake Hazeltine Properties, L.L.P, a Minnesota general partnership ("Landlord"), and FSI International, Inc., a Minnesota corporation ("Tenant").

RECITALS

    A.  Landlord, as landlord, and Tenant, as tenant, entered into that certain Lease dated June 27, 1985 (the "Lease"), covering land and improvements at 322 Lake Hazeltine Drive, located in City of Chaska, Carver County, Minnesota, and legally described in Section 1.3 of the Lease.

    B.  Landlord and Tenant entered into that certain First Amendment to Lease dated October 31, 1995 (the "First Amendment"),

    C.  Landlord and Tenant now desire to amend the Lease in certain respects as more specifically provided in this Amendment.

    Accordingly, Landlord and Tenant agree as follows:

    1.  Adjustment Date.  The definition of "Adjustment Date" in Section 1.3 of the Lease (as amended by Section 1 of the First Amendment) is hereby deleted.

    2.  Extension of Term.  Section 2.2 of the Lease (as amended by Section 2 of the First Amendment) is hereby amended and restated in its entirety as follows:

    3.  Basic Rental.  Section 3.2 of the Lease (as amended by Section 4 of the First Amendment) is hereby amended to add the following subsection:

    4.  Consent to Sublease.  Landlord hereby consents to the sublease of a portion of the Property to The BOC Group, Inc. pursuant to the terms of the Sublease Agreement dated July 31, 1999 ("Sublease"). No assignment or additional subletting is permitted without the express written consent of Landlord and Tenant acknowledges that its obligations under the Lease remain in full force and effect and are not diminished or released in any manner by virtue of the Sublease.

    Landlord's consent to the Sublease does not result in any express or implied right or ability of The BOC Group, Inc. to exercise the purchase option or right of refusal set forth in the Prime Lease.

    5.  Notice.  Tenant agrees to provide Landlord with copies of any notices of default sent by Tenant to The BOC Group, Inc.

    6.  Miscellaneous.  Except as specifically amended herein, the terms and conditions of the Lease remain unchanged and in full force and effect. This Second Amendment shall be binding on and inure to the benefit of the parties hereto and their respective successors and assigns. This Second Amendment may be executed in counterparts in which case all counterparts taken together shall constitute one Second Amendment. A facsimile signature shall be considered an original.

    The parties have executed this Second Amendment to Lease as of the date and year first above written.

    LANDLORD:
 
 
 
 
 
LAKE HAZELTINE PROPERTIES, L.L.P.
 
 
 
 
 
By:
 
/s/ 
J.A. ELFTMANN   
A General Partner
 
 
 
 
 
By:
 
/s/ 
JOSEPH W. WYERS   
A General Partner
 
 
 
 
 
By:
 
/s/ 
ROBERT S. BLACKWOOD   
A General Partner
 
 
 
 
 
TENENT:
 
 
 
 
 
FSI INTERNATIONAL, INC.
 
 
 
 
 
By:
 
/s/ 
BENNO SAND   
Its Chief Administrator Officer
 
 
 
 
 
By:
 
/s/ 
PATRICIA M. HOLLISTER   
Its Chief Financial Officer

QuickLinks

SECOND AMENDMENT TO LEASE



© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission