Sample Business Contracts

California-Costa Mesa-3163 Redhill Avenue Lease - Trico Rents and Ceradyne Inc.

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  • Commercial Lease. 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.
  • Commercial Sublease. 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.
  • Sublease Agreement. 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 Lease. 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.
  • Office Space Lease. 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.

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Date:    June 8, 1995                  Extension No.   2
     ---------------------                          ------------------


                              LEASE RENEWAL FORM

LEASE to be renewed is that certain lease described as follows:

Lessor:             TRICO RENTS, a California General Partnership
Lessee:             CERADYNE, INC., a Delaware Corporation
Property Leased:    3163 Redhill Avenue
                    Costa Mesa, CA 92626
Lease Dated:        March 31, 1986

The term of the referenced lease is hereby extended from:

          November 1, 1995          through           October 31, 2000
-----------------------------------         ------------------------------------

    With the following changes only:

A.  Security Deposit decreased from:     $13,120.00      to       $9,350.00
                                    --------------------    --------------------

B.  Rent: Throughout the term of this Lease Extension the following rental
    schedule shall prevail:

                   Rental Period                   Monthly Amount
                   -------------                   --------------
        November 1, 1995 - October 31, 1996          $ 7,833.00
        November 1, 1996 - October 31, 1997            8,146.00
        November 1, 1997 - October 31, 1998            8,472.00
        November 1, 1998 - October 31, 1999            8,811.00
        November 1, 1999 - October 31, 2000            9,163.00

    The above rental figures do not include the estimated monthly Common Area
    Maintenance (CAM) charges which are currently $187.00, per month.

    Note: A credit of $3,770.00 shall be applied to the November, 1995 rent to
    offset the reduction in the security deposit requirement ($13,120.00 -
    $9,350.00 = $3,770.00).

C.  Option to Renew. Lessor hereby grants to the Lessee an Option to Renew this
    Lease for an additional five (5) years under the following terms and

    A.  Lessee must notify Lessor, in writing, on or before May 1, 2000 of
        Lessee's intent to exercise its Option to Renew.

    B.  The renewal period shall commence, if the Option is exercised, on
        November 1, 2000 and shall terminate on October 31, 2005.

    C.  The terms and conditions of this option period shall be the same as the
        terms and conditions of the original Lease, including extensions, except
        that the following monthly rental schedule shall prevail throughout this
        option period:

                   Rental Period                   Monthly Amount
                   -------------                   --------------
        November 1, 2000 - October 31, 2001          $ 9,530.00
        November 1, 2001 - October 31, 2002            9,911.00
        November 1, 2002 - October 31, 2003           10,307.00
        November 1, 2003 - October 31, 2004           10,719.00
        November 1, 2004 - October 31, 2005           11,148.00

        The above rental figures do not include the estimated monthly CAM

    All other terms and conditions of the Lease dated       March 31, 1986
    shall remain the same.

APPROVED BY: LESSOR                             APPROVED BY: LESSEE

TRICO RENTS, a                                  CERADYNE, INC., a Delaware
California General Partnership                  Corporation

/s/ Clarence J. Turner                          /s/ James F. Gardner
------------------------------                  --------------------------------
Clarence J. Turner                              James F. Gardner

                                                /s/ David P. Reed
                                                David P. Reed

DATED:  6/8/95                                  DATED: 6/8/95
      ------------------------                  --------------------------------