EXHIBIT 10.54
LEASE
APRIL 10, 2003
LANDLORD
CALWEST INDUSTRIAL PROPERTIES, LLC,
a California limited liability company
By: PGP PARTNERS, INC.,
a California corporation
and
TENANT
VERIZON MEDIA VENTURES INC.,
a Delaware corporation
TABLE OF CONTENTS
Page
1.
USE AND RESTRICTIONS ON USE
1
2.
TERM
1
3.
RENT
2
4.
RENT ADJUSTMENTS
3
5.
SECURITY DEPOSIT
4
6.
ALTERATIONS
4
7.
REPAIR
5
8.
LIENS
6
9.
ASSIGNMENT AND SUBLETTING
6
10.
INDEMNIFICATION
7
11.
INSURANCE
8
12.
WAIVER OF SUBROGATION
9
13.
SERVICES AND UTILITIES
9
14.
HOLDING OVER
9
15.
SUBORDINATION
9
16.
RULES AND REGULATIONS
9
17.
REENTRY BY LANDLORD
9
18.
DEFAULT
10
19.
REMEDIES
10
20.
TENANT'S BANKRUPTCY OR INSOLVENCY
12
21.
QUIET ENJOYMENT
12
22.
CASUALTY
13
23.
EMINENT DOMAIN
14
24.
SALE BY LANDLORD
14
25.
ESTOPPEL CERTIFICATES
14
26.
SURRENDER OF PREMISES
14
27.
NOTICES
14
28.
TAXES PAYABLE BY TENANT
15
29.
RELOCATION OF TENANT
15
30.
DEFINED TERMS AND HEADINGS
15
31.
TENANT'S AUTHORITY
16
32.
FINANCIAL STATEMENTS AND CREDIT REPORTS
15
33.
COMMISSIONS
16
34.
TIME AND APPLICABLE LAW
16
35.
SUCCESSORS AND ASSIGNS
16
36.
ENTIRE AGREEMENT
16
37.
EXAMINATION NOT OPTION
16
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TABLE OF CONTENTS
(continued)
Page
38.
RECORDATION
16
39.
LIMITATION OF LANDLORD'S LIABILITY
17
ADDENDUM
EXHIBIT A - FLOOR PLAN DEPICTING THE PREMISES
EXHIBIT A - 1 - SITE PLAN
EXHIBIT B - INITIAL ALTERATIONS
EXHIBIT B - 1 - INITIAL ALTERATIONS
EXHIBIT C - COMMENCEMENT DATE MEMORANDUM
EXHIBIT D - RULES AND REGULATIONS
EXHIBIT E - ADDITIONAL SURRENDER CONDITIONS
EXHIBIT F - PARKING RULES AND REGULATIONS
EXHIBIT G - HAZARDOUS MATERIALS
-ii-
MULTI-TENANT INDUSTRIAL NET LEASE
REFERENCE PAGES
BUILDING:
Alondra Distribution Center
LANDLORD:
CALWEST INDUSTRIAL PROPERTIES, LLC, a California limited liability company
LANDLORD'S ADDRESS:
c/o PGP Partners, Inc.
1582 Parkway Loop, Suite A
Tustin, CA 92780
WIRE INSTRUCTIONS AND/OR ADDRESS FOR RENT PAYMENT:
CalWest Mid Cities Industrial
File #30164
P.O. Box 60000
San Francisco, CA 94160-0001
LEASE REFERENCE DATE:
April 10, 2003
TENANT:
VERIZON MEDIA VENTURES INC.,
a Delaware corporation
TENANT'S NOTICE ADDRESS:
(a) As of beginning of Term:
750 Canyon Drive
Coppell, Texas 75019
(b) Prior to beginning of Term (if different):
Same
PREMISES ADDRESS:
13100 Alondra Blvd. Suite 104
Cerritos, CA 90703
PREMISES RENTABLE AREA:
Approximately 8,640 square feet (for outline of Premises see Exhibit A-l)
USE:
Warehouse and Offices for telecommunications and operation of cable
television services.
[SCHEDULED] COMMENCEMENT DATE:
June 1, 2003
TERM OF LEASE:
Approximately Two (2) years, zero (0) months and zero (0) days beginning on
the Commencement Date and ending on the Termination Date. [The period from the
Commencement Date to the last day of the same month is the "Commencement
Month."]
TERMINATION DATE:
May 31, 2005
[The last day of the twelfth (12th) full calendar month
after (if the Commencement Month is not a full calendar month), or from and
including (if the Commencement Month is a full calendar month), the Commencement
Month]
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MJB
/s/ Illegible
Initials