Sample Business Contracts

Minnesota-Plymouth-Bass Creek Business Park Lease [Amendment No. 1] - Opus Corp. and Select Comfort Corp.

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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.
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  • 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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                                 AMENDMENT OF LEASE

     THIS AMENDMENT OF LEASE, made this 10th day of August, 1994, between Opus
Corporation ("Landlord") and Select Comfort Corporation ("Tenant").


     Landlord, as landlord, and Tenant, as tenant, are parties to a Net Lease
Agreement dated December 3, 1993 relating to real estate in Plymouth, Hennepin
County, Minnesota (the "Lease").

     Landlord has provided $50,000 in change orders pursuant to Section 20.29 of
the Lease, resulting in an annual increase of $7,120 over the term of the Lease,
and has in addition provided an additional $65,779 of improvements, for which an
additional $36,887 in annual rent will be paid for the first two years of the
Lease term.  The leased premises has been enlarged to provide land for
additional future parking, and the parties have agreed to a $2,500 annual rental
payment over the term of the Lease to reflect this additional land.

     By this amendment, the parties desire to confirm the commencement date of
the term of the Lease and provide for the additional premises and the additional
rental referred to above.

NOW, THEREFOR, the parties hereto agree as follows:

          1.  The Commencement Date, as defined in the Lease, is June 6, 1994.
The last day of the Initial Term, as defined in the Lease, is June 1, 2004.

          2.  The legal description in Exhibit A to the Lease is changed to Lot
1, Block 1, Bass Creek Business Park 3rd Addition, which Landlord will complete
and record.

          3.  Lines 7 through 15 of Section 3.1 of the Lease are amended as

          or at such other place as Landlord may from time to time
          designate in writing, an annual rental for the Initial Term
          of this Lease of $507,213 for the period beginning on the
          Commencement Date and ending May 31, 1996, $470,326 for the
          period beginning June 1, 1996 and ending May 31, 1997,
          $487,222 for the period beginning June 1, 1997 and ending
          May 31, 2000, $552,818 for the period beginning June 1, 2000
          and ending May 31, 2002, and $594,561 for the balance of the
          Initial Term, payable monthly, in advance, in equal
          installments, commencing on the Commencement Date and
          continuing on the first day of each month thereafter for the
          succeeding months during the balance of the Initial Term.
          The rent provided for in this Section 3.1 is hereafter
          called the "Base Rent".


          4.  Except as hereby specifically amended, the Lease and all of the
terms and provisions thereof remain in full force and effect.

          IN WITNESS WHEREOF, the parties hereto have caused these presents to
be made as of the day and year first above stated.

                                    OPUS CORPORATION

                                    By:  /s/                          
                                    Its:  Vice President, General Manager

                                    SELECT COMFORT CORPORATION

                                    By:  /s/                          
                                    Its:  COO/CFO