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EXHIBIT 10.7
LEASE MODIFICATION
AND EXTENSION AGREEMENT
THIS LEASE MODIFICATION AND EXTENSION AGREEMENT is made and
entered into this 30th day of November, 1999, by and between AMB PROPERTY, L.P.,
a Delaware limited partnership (hereinafter referred to as "Lessor"), and
MEDWAVE, INC., a Minnesota corporation (hereinafter referred to as "Lessee").
WITNESSETH:
WHEREAS, Lessor and Lessee have entered into a lease agreement
dated the 10th day of April, 1997 (hereinafter referred to as "Lease"), whereby
Lessor leased to Lessee certain premises in the building situated at 4354 - 4396
Round Lake Road West, City of Arden Hills, State of Minnesota; and
WHEREAS, Lessor is successor in interest to Round Lake LLC; and
WHEREAS, it is the desire of the Lessor and the Lessee to add to
the terms of the Lease.
NOW, THEREFORE, in consideration of the mutual promises of the
parties hereto, it is agreed as follows:
1. EXTENSION OF LEASE TERM. The term of this Lease is hereby
extended for a period of two (2) years, from June 1, 2000 through
May 31, 2002 (the "Extended Term").
2. RENT. Lessee agrees to pay as Base Monthly Rental during the
extended term the sum of Three Thousand Thirty-six and 50/100
Dollars ($3,036.50), which equates to Thirty-six thousand four
hundred thirty-eight and 00/100 Dollars ($36,438.00) per year.
3. ENTIRE AGREEMENT. This Lease Modification and Extension
Agreement, the Lease and Exhibits thereto set forth all covenants,
promises, agreements, conditions and understandings between Lessor
and Lessee concerning the Leased Premises. No representations,
warranties, undertakings or promises, whether oral, implicated,
written or otherwise, have been made by either party hereto to the
other unless expressly stated in this Lease Modification and
Extension Agreement or unless mutually agreed to in writing
between the parties hereto after the date hereof, and neither
party has relied upon any verbal representations, agreements, or
understandings not expressly set forth herein. Except as herein
otherwise provided, no subsequent alteration, amendment, change or
addition to this Lease shall be binding upon Lessor or Lessee
unless reduced to writing and signed by them. All other terms and
conditions as stated in the Lease remain in full force and effect.
LESSEE: LESSOR:
MEDWAVE, INC. AMB PROPERTY, L.P.
A MINNESOTA CORPORATION A DELAWARE LIMITED PARTNERSHIP
BY: /S/ Kent Archibald By: AMB Property Corporation
------------------------- a Maryland Corporation
Its: General Partner
