Ex-10.30



 





Exhibit 10.30




OPTION TO RENEW



The Original Option To Renew dated November 15, 2001, is hereby amended as indicated in underlined
bold print below.



     Pursuant to Article XXXIV, Section 34.1 “Option to Extend” of the Lease Agreement between
B&B Investments, Inc. (“Landlord”) and Portola Packaging, Inc. (“Tenant”) relating to the property
at 951 Douglas Road, Batavia, IL dated July 23, 1992, and in consideration of the Landlord
completing, at the expense of the Landlord, an Office Expansion Project (“Project”) totaling
$227,188.00, the Tenant hereby notifies the Landlord of its intent to exercise its OPTION TO
EXTEND for the First Extension Term of five (5) years.



     This five (5) year extension, as provided in the aforementioned Lease agreement, shall
commence upon the day following the last day of the original term of this Lease from August 6, 2008
to August 5, 2013.



     The Rent paid by the Tenant to the Landlord for the five (5) year extension period above shall
be equal to:



	 	 	 
	Base Rent

	 	$40,068.91 per calendar Month ($480,826.92 per Year)
	 
	 	 
	Project

	 	$2,764.41 per calendar Month ($33,172.92 per Year)
	 
	 	 
	Total Rent

	 	$42,833.32 per calendar Month ($513,998.84 per Year)







     Furthermore, in consideration of the Landlord completing the “Project”, the Tenant agrees to
pay each month to the Landlord, in addition to the base rent of $37,511.32 per calendar Month (as
provided in Exhibit “D” of the original Lease), the amount of $2,764.41 per calendar Month.
The new Base Rent for the remainder of the original Lease term through August 5, 2008, shall be:



	 	 	 
	Base Rent

	 	$37,511.32 per calendar Month ($450,135.84 per Year)
	 
	 	 
	Project

	 	$2,764.41 per calendar Month ($33,172.92 per Year)
	 
	 	 
	Total Rent

	 	$40,275.73 per Calendar Month ($483,308.76 per Year)







     The additional $2,764.41 per calendar Month shall be added to the Base Rent of
$37,511.32 commencing with the lease payment due for March 1, 2002.



     The Landlord shall pay the General Contractor directly for any and all work completed as
agreed, and shall warrant to the Tenant that all work performed shall be free of any and all liens
or encumbrances against the Tenant.



	 	 	 	 	 	 	 	 	 
	Agreed:
	 	 	 	 	 	 	 	 
	 	 	
 	 	
 
	

	 	Landlord
	 	Date
	 	Tenant
	 	Date



















 





Amendment to Lease Agreement



This amendment modifies the Lease Agreement between B&B Investments, Inc. (“Landlord”) and
Portola Packaging, Inc. (“Tenant”) relating to the property at 951 Douglas Road, Batavia, IL dated
July 23, 1992, as follows:


Article XXXIV Option to Renew



     Section 34.1 and sub-para (a) of the lease between Landlord and Tenant currently
reads:



     Section 34.1. Tenant is hereby granted the right to extend the term of this lease for
two (2) consecutive terms of five (5) years each commencing on the day immediately following the
expiration of the original term (“the First Extension Term”) and on the day following the the
expiration of the First Extension Term (the “Second Extension Term”) subject to the following
conditions:



     (a) Tenant serves written notice on Landlord of its intent to extend not more than three
hundred sixty five (365) days prior to the expiration of the original term and not less than two
hundred seventy (270) days prior to the expiration of the original term or First Extension Term; as
applicable.



     Section 34.1, sub-para (a) of the lease between Landlord and Tenant is hereby amended
to now read:



The first paragraph remains unchanged




     Section 34.1. Tenant is hereby granted to the right to extend the term of this
lease for two (2) consecutive terms of five (5) years each commencing on the day immediately
following the expiration of the original term (“the First Extension Term”) and on the day following
the the expiration of the First Extension Term (the “Second Extension Term”) subject to the
following conditions:



     Section 34.1, Sub-Paragraph (a) is amended to now read:



     (a)Tenant serves written notice on Landlord of its intent to extend not less than two
hundred seventy (270) days prior to the expiration of the original term or First Extension Term; as
applicable.



Section 34.1, Sub-Paragraphs (b), (c), (d) and (e) remain unchanged




     This amendment modifies only the above mentioned specific terms, and all other terms and
conditions of this agreement shall remain in full force and effect as originally agreed. This lease
agreement is hereby amended as described above through signature below of the authorized agents of
the Landlord and Tenant and shall be effective this    day of    , of the year
   .



	 	 	 	 	 	 	 
	Landlord:

	 	 	 	Tenant:	 	 
	 
	 	 	 	 	 	 
	
 	 	
 
	Signature

	 	Date
	 	Signature
	 	Date
	 
	 	 	 	 	 	 
	
 	 	
 
	Print Name

	 	 	 	Print Name	 	 
	 
	 	 	 	 	 	 
	
 	 	
 
	Title

	 	 	 	Title