ECHO AUTOMOTIVE, INC., 10-KA


Exhibit 10.20


 









     


	



    	 



    
 










     


	



    	 



    
 










     


	



    	 



    
 










     


	



    	 



    
 










     


	



    	 



    
 










     


	



    	 



    
 










     


	



    	 



    
 










     


	



    	 



    
 










     


	



    	 



    
 










     


	



    	 



    
 










     


	



    	 



    
 










     


	



    	 



    
 










     


	



    	 



    
 










     


	



    	 



    
 










     


	



    	 



    
 










     


	



    	 



    
 









     


	



    	 



    
 




ADDENDUM


This addendum
to Lease (“Addendum”) is incorporated into and made a part of that certain
Lease dated February 18, 2013, by and between TREF Scottsdale LLC, a Delaware
limited liability company as “Lessor” and Echo Automotive, Inc., a Nevada
corporation as “Lessee” (the “Lease”). The terms of this Addendum are intended
to modify, amend, and supplement the terms and provisions of the Lease. To the
extent of any conflict between the terms and provisions of this Addendum and
the terms and provisions of the Lease, the terms and provisions of this
Addendum shall control. Except as otherwise expressly provided in this
Addendum, all capitalized terms used in this Addendum and defined in the Lease
shall have the same meanings ascribed to them in the Lease.


	
  

 	
  

 
	
 50.

 	
 Base Rent:
 Lessee shall pay to Lessor as Base Rent for the Premises, as follows: 

 






	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Lease Term

 	
  

 	
 Per Square
 Foot Rate

 	
  

 	
 Monthly Base
 Rent 

 
	
  

 	 

 	
  

 	 

 	
  

 	 

 
	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Month 01:

 	
  

 	
 $0.33 PSF

 	
  

 	
 $2,480.28
 per month* 

 
	
  

 	
 Months
 02-04:

 	
  

 	
 $0.00 PSF

 	
  

 	
 $0.00**

 
	
  

 	
 Months 05-12

 	
  

 	
 $.033 PSF

 	
  

 	
 $2,480.28
 per month*

 
	
  

 	
 Months
 13-24:

 	
  

 	
 $0.75 PSF

 	
  

 	
 $5,637.00
 per month*

 
	
  

 	
 Months
 25-39:

 	
  

 	
 $0.80 PSF

 	
  

 	
 $6,012.80
 per month*

 






	
  

 	
  

 	
  

 
	
  

 	
 *

 	
 Plus
 applicable rental taxes

 
	
  

 	
 **

 	
 Lessee will
 be responsible for the NNN expenses effective April 15, 2013.

 
	
  

 	
  

 	
 The current
 estimated NNN operating expenses are at .26 cents per square foot

 
	
  

 	
  

 	
  

 
	
 51.

 	
 Option to
 Renew: Lessor shall grant the original
 Lessee one (1) three (3) year option to renew this Lease extension, upon the
 same terms and conditions herein; said option terms shall be at prevailing
 market rental rate with annual rent increases. In no event, however, shall
 rent on the first day of the option period be less than the previous month’s
 rent. Lessee’s option to renew shall be subject to: (a) Lessor’s receipt of
 Lessee’s written notice of its intention to exercise this option. Lessee’s
 written notice must be received by Lessor a minimum of six (6) months prior
 to lease termination and maximum of twelve (12) months prior to lease
 termination; (b) that lease is not, and has not been at anytime during the
 term of the lease, in default in performance of any of the terms, covenants,
 and conditions of the Lease.

 
	
  

 	
  

 
	
 52.

 	
 Parking:
 Lessee shall receive nine (9) uncovered unreserved and six (6) covered
 reserved parking spaces at the project free of charge for the initial lease
 term. Exhibit “B” reflects the location of the covered reserved parking
 spaces assigned to Lessee.

 



          IN
WITNESS WHEREOF, the undersigned Lessor and Lessee have caused this Addendum to
be duly executed by their duly authorized representatives as of the date of the
Lease.


	
  

 	
  

 	
  

 
	
 LESSOR:

 	
  

 	
 LESSEE:

 
	
 TREF
 Scottsdale LLC,
a Delaware limited liability company
by: Univest Management
 Company LLC,
an Arizona limited liability company as managing agent for owner

 	
  

 	
 Echo
 Automotive Inc., a Nevada corporation

 






	
  

 	
  

 	
  

 	
  

 	
  

 
	
 By:

 	
 

 	
  

 	
 By:

 	
 

 
	
  

 	 

 	
  

 	
  

 	 

 
	
  

 
	
 Name
 Printed: Jacque Chilton

 	
  

 	
 Name
 Printed: Jason Plotke 

 
	
  

 
	
 Title: Principal

 	
  

 	
 Title: President
 & Chairman

 
	
  

 
	
 Date: 3-1-13

 	
  

 	
 Date: 2-27-13

 







     


	



    	 



    
 



EXHIBIT “A”


	
  

 
	
 Scottsdale Airpark II

 
	
 16000 North 80th Street, Scottsdale

 
	
 Suite E- 7,516 SF

 






	
  

 	
  

 	
  

 	
  

 	
  

 
	
 

 	
  

 	
 

 







     


	



    	 



    
 










     


	



    	 



    
 



EXHIBIT “A”


	
  

 
	
 Scottsdale Airpark II

 
	
 16000 North 80th Street, Scottsdale

 
	
 Suite E- 7,516 SF