Sample Business Contracts


California-Palo Alto-420 Florence Street Lease [Amendment] - 505 Hamilton Avenue Partners and Garage.com

Lease Forms

  • Start a state-specific lease for the rental of commercial property. Specify the term and rent due, as well as whether the landlord or tenant is responsible for property taxes, insurance, and maintenance and repairs.
  • When a tenant vacates commercial property before the lease term has expired, it may be able to rent the premises to a third party. The tenant would be the sublessor and the third party would be the sublessee. Besides preparing a sublease, both parties will want to review the provisions for assignment or subletting in the original lease agreement between the landlord and the sublessor.
  • Tenants of residential property should prepare a sublease agreement if they are seeking to sublease a room or the entire apartment or house to a third party. All parties should review the original lease agreement to see if there are any restrictions on subletting or assigning the premises.
  • Triple net leases are a type of commercial leases where the tenant has to pay for property taxes, insurance, utilities, and maintenance, in addition to the monthly rent.
  • When renting an office space, tenants should understand the amount of the rent and duration of the lease. Other important terms include whether the space can be subleased, which parties are responsible for maintenance, and whether any furniture and furnishings will be provided. 

                               AMENDMENT TO LEASE


This Amendment to Lease (the "Amendment") is dated for reference purposes only
as of November 11, 1999, by and between 505 Hamilton Avenue Partners, A
California Limited Partnership successor in interest to 505 Hamilton Avenue
Partners, a California General Partnership ("Landlord"), and Garage.com, A
California Corporation ("Tenant").


                                    RECITALS

This Amendment is made with reference to the following facts and objectives:

A.    Landlord and Garage.com entered into that certain Lease (the "Lease")
      dated March 10, 1998 by which Landlord leased to Garage.com and
      Garage.com leased from Landlord the premises located at 420 Florence
      Street, Palo Alto, California 94301 (the "Premises"), comprising of 3,945
      total rentable square feet of which approximately 2,580 rentable square
      feet is located on the third floor (Suite 300) and approximately 1,365
      rentable square feet is located on the first floor (Suite 102).

B.    The term of the Lease commenced on March 15, 1998 and will expire on
      April 14, 2002.

C.    Landlord and Tenant herein desire to modify the provisions of the Lease
      as set forth below.


NOW THEREFORE, for and in consideration of the mutual covenants and obligations
set forth herein, Landlord and Tenant hereby agree as follows:


1.    Premises. The original Premises of 3,945 total rentable square feet on
      the third floor (2,580 rentable square feet) and first floor (1,365
      rentable square feet) shall be increased by approximately 3,703 rentable
      square feet (the "Expansion Space") on the second floor (Suite 200), for
      a total Premises now consisting of approximately 7,648 (3,945 + 3,703)
      rentable square feet located at 420 Florence Street, Palo Alto,
      California 94301, thereinafter referred to as the Premises.

2.    Term. The Term for the Expansion Space, shall be co-terminus with the
      Lease and shall be 32 Months and 14 Days as follows:

                        Commencement Date:      July 1, 1999
                        Expiration Date:        March 14, 2002

      The Expiration Date for the Premises shall be revised to March 14, 2002.

<PAGE>   2
3.   Monthly Base Rent. The initial Monthly Base Rent for the Expansion Space
     shall be $4.50 per square foot per month, effective July 1, 1999, and shall
     be subject to a 4% increase on each Lease anniversary date (March 15),
     pursuant to the Lease Summary of the Lease. Therefore, the Monthly Base
     Rent for the Premises, shall be as follows:



               Months                   Base Monthly Rent
               ------                   -----------------
                                     
               7/1/99  - 3/14/00            $30,946.00
               3/15/00 - 6/30/00            $32,171.00
               7/1/00  - 3/14/01            $34,057.00
               3/15/01 - 4/14/02            $35,431.00


4.   Operating Expenses and Tax Expenses. Tenant shall pay for its allocable
     share of the increase in the building Operating Expenses and Tax Expenses
     over the 1998 Base Year per the Lease Summary of the Lease. However, as a
     result of this Amendment, Tenant's allocable share of the building
     Operating Expenses and Tax Expenses will increase from 43.6% to 81%.

5.   Security Deposit. Upon execution of this Amendment by Tenant, Tenant shall
     deliver to Landlord the sum of Fourteen Thousand Eight Hundred Fifty
     Dollars and 00/100 ($14,850.00) to increase the Security Deposit held by
     Landlord to Forty Nine Thousand Six Hundred Forty-Five Dollars and 00/100
     ($49,645.00).

6.   As-Is Condition. Tenant accepts the Premises in its "As-Is" condition and
     acknowledges and agrees that Landlord shall have no obligation to perform
     any improvements to the Premises.

7.   Parking. No parking shall be provided.

8.   Brokerage Fees. Any and all brokerage commissions shall be paid by Tenant.
     Tenant hereby agrees to indemnify, defend, protect and hold Landlord
     harmless from and against any and all claims for commissions arising from
     its dealing with any broker, finder or agent.

9.   No Further Modifications. Except as expressly modified by the terms and
     conditions of this Amendment, all other terms, conditions and provisions of
     the Lease shall remain unmodified and in full force and effect.

<PAGE>   3
In WITNESS WHEREOF, Landlord and Tenant have executed this Amendment effective
as of the date first above written.

LANDLORD:

505 Hamilton Avenue Partners, A California Limited Partnership
By: Palo Alto Properties, LLC, its general partner
 By: King Asset Management Corporation, its Manager




By: /s/ CHARLES W. KING JR.
    -------------------------------------
           Charles W. King Jr.

Its:         Vice-President



TENANT:

GARAGE.COM, a California Corporation




By:       /s/ WILLIAM REICHERT
    -------------------------------------
Print Name:   William Reichert
            -----------------------------
Title:   President
       ----------------------------------
Date:   12/1/99
       ----------------------------------


By:
    -------------------------------------
Print Name:
            -----------------------------
Title:
       ----------------------------------
Date:
       ----------------------------------

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