**EXHIBIT 10.48**

 

**LEASE AMENDMENT**

 

ThisFirst Amendment to Lease (“Agreement” is made and entered into as of February7, 2005, by and between Glenborough Fund IX, LLC, a Delaware limited liabilitycompany, (“Landlord”) and Northwest Power Management, Inc., a Washingtoncorporation (“Tenant”).

 

**R****ECITALS**

ThisAgreement is made with reference to the following facts and objectives:

A.            By Lease and Addendum to Lease by and betweenLandlord and Tenant dated as of March 29, 2004, (together, the “Lease”) Tenantleased the Premises depicted in Exhibit “A” to the Lease, demised in Section 1.of the Lease, and described in Sections 2.13. and 2.14. of the lease as Suite283 deemed to contain approximately 1,966 square feet of Rentable Area in theBuilding located at 3900 Paradise Road, Las Vegas, Nevada 89109, in the Projectknown as Citibank Park Office in the Complex known as Citibank Park.

B.            Landlord and Tenant desire to expand thepremises and to otherwise modify and amend the Lease, on and subject to theterms, covenants, and conditions set forth below.

NOW, THEREFORE, Landlord and Tenant hereby agree asfollows:

 

**A****GREEMENT**

1.             Effective as of April 15, 2005, (the “EffectiveDate”) Tenant shall lease and expand into Suite 266, which is depicted onExhibit “A” attached hereto and made a part hereof.

2.             Also as of the Effective Date, the followingmodifications and amendments shall be made to the Lease:

•      Section 2.13. of the lease shall be modifiedand amended to add Suite 266 to the list of Suites constituting the Premisesand to specify that Suite 266 is deemed to contain approximately 1,399 squarefeet of Rentable Area.

•      Section 2.6. of the Lease shall be modifiedand amended to specify that the Expiration Date for Suite 283 shall remain June30, 2007, but that Suite 266 shall have a separate, non-coterminous ExpirationDate of April 30, 2006.

•      Exhibit “A” to this Agreement depicting Suite266 shall be added to the existing Exhibit “A” to the Lease so that theentirety of the Premises is depicted by the two (2) pages thereafter comprisingExhibit “A.”

•      Section 2.19. of the Lease shall be modifiedand amended to add that Tenant’s Proportionate Share for Suite 266 only shallbe 1.65%, with no change to the Tenant’s Proportionate Share for Suite 283.

•      Section 2.3. of the Lease shall be modifiedand amended to add 2005 as the Base Year for Suite 266, with no change to theBase Year for Suite 283.

•      Sections 2.2. and 2.10. of the Lease shall bemodified and amended to add the following schedule of Monthly Installments ofBase Rent for Suite 266 only (the schedule for Suite 283 shall remainunchanged):

Suite 266 Only:

April 15, 2005        through  April 31, 2006,     $2,728.05/month

3.             Suite 266 shall be delivered to Tenantwithout reconfiguration or remodeling, but in vacant, clean (pursuant toBuilding Standard periodic janitorial services) condition, “as-is.”

4.             All other terms, covenants, and conditions ofthe Lease shall remain in full force and effect.

 

This Agreement modifies and amends the Lease. To theextent there are any inconsistencies between this Agreement and the Lease, theterms, covenants, and conditions of this Agreement shall govern. Capitalizedterms not defined herein are defined in the Lease.

IN WITNESS WHEREOF, Landlord and Tenant haveexecuted this Agreement as of the date first above written.

 
| LANDLORD:                             |                              |
|---------------------------------------|-----------------------------------|
| GLENBOROUGH  FUND IX, LLC             |                              |
| A  Delaware limited liability company |                              |
| By:                                   | GRT  IX, Inc.                     |   |
|                                  | a  Delaware corporation           |   |
|                                  | Its  Managing Member              |   |
|                                  | By:                               |   |   |
|                                  |                              | Its  Vice President |   |
|                                  |                              |
| TENANT:                               |                              |
| NORTHWEST  POWER MANAGEMENT, INC.     |                              |
| a  Washington corporation             |                              |
| By:                                   |   \Steven  Z. Strasser\ |   |
|                                  | Its  President                    |   |
|                                       |                                   |  |  |  |

 

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