Document:

Exhibit
10.11

 

AMENDMENT
NO. 3 TO NOTE PURCHASE AGREEMENT

 

                Amendment
No. 3, dated as of September 29, 2006 (this “Amendment”), to the Note
Purchase Agreement dated as of September 16, 2005, as amended by Amendment No.
1 thereto dated as of October 24, 2005 and Amendment No. 2 thereto dated as of
July 21, 2006 (the “Note Purchase Agreement”), by and among GenuTec
Business Solutions, Inc., a Montana corporation (the “Company”),
Technology Investment Capital Corp., a Maryland corporation, individually (“TICC”)
and as Collateral Agent, and Seaview Mezzanine Fund LP, a Delaware limited
partnership (“Seaview”; TICC and Seaview, together with their respective
successors, assigns and transferees, are sometimes referred to herein
collectively as the “Purchasers”). Capitalized terms used herein without
definition shall have the respective meanings ascribed to them in the Note
Purchase Agreement.

 

R
E C I T A L S

 

                A.            Pursuant to the Notes Purchase
Agreement, the Company has issued to the Purchasers, and the Purchasers
presently hold, Senior Secured Notes Due 2010 of the Company in the aggregate
principal amount of $20,000,000.

 

                B.            The Company has requested, and the
Purchasers have agreed, subject to certain conditions as hereinafter set forth,
to extend the dates by which certain obligations were required to be performed,
to amend certain of the financial covenants and other provisions set forth in
the Note Purchase Agreement, and to waive an Event of Default that now exists
by reason of the failure of a Registration Statement to be declared effective
by the SEC on or prior to the first anniversary of the Closing Date.

 

                C.            Concurrently with the execution of
this Amendment, the Company is issuing to the Purchasers (i) pursuant to the
provision of Section 2.6 of the Stock Purchase Agreement, Warrants initially
exercisable to purchase an aggregate of 250,000 shares (subject to adjustments
as therein provided) of Company Common Stock (the “Stock Purchase Agreement
Additional Warrants”) and (ii) in consideration of the execution of this
Amendment by the Purchasers, additional warrants (which shall be in
substantially the form set forth in Exhibit B to the Stock Purchase Agreement)
initially exercisable to purchase an aggregate of 75,000 shares (subject to
adjustment as therein provided) of Company Common Stock (the “Special
Warrants”).

 

                NOW,
THEREFORE, in consideration of the terms and conditions contained herein and of
other goods and valuable consideration the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:

 

                1.             Amendment to Section 2.1 of the
Note Purchase Agreement.  Section 2.1
of the Note Purchase Agreement is hereby amended by adding the following new
subsection (e) thereto immediately following subsection (d) thereof:

 

                “(e)         Special
Fee.  In the event that the Company
shall not complete a Qualified Equity Financing on or prior to January 31,
2007, the Company shall on February 1, 2007 pay to the Purchasers a fully
earned and non-refundable fee in the aggregate amount of

 

 

 

 

$75,000, such fee to be
allocated among the Purchasers pro rata in accordance with the respective
outstanding principal amounts of the Notes then held by them."

 

                2.             Amendment to Section 3.1(b)(i)
of the Note Purchase Agreement. 
Section 3.1(b)(i) of the Note Purchase Agreement if hereby amended by
deleting the date "November 15, 2006" set forth in clause (A) thereof
and inserting in lieu thereof the date "January 31, 2007".

 

                3.             Amendment to Section 11.2 of the
Note Purchase Agreement.  Section
11.2 of the Note Purchase Agreement is hereby amended by deleting the ratio
"3.00 to 1.00" set forth opposite the date "September 30,
2006" contained in the table appearing in that Section and inserting in
lieu thereof the ratio "1.75 to 1.00."

 

                4.             Amendment to Section 11.3 of
Note Purchase Agreement.  Section
11.3 of the Note Purchase Agreement is hereby amended by deleting the ratio
"3.00 to 1.00" set forth opposite the date "September 30,
2006" contained in the table appearing in that Section and inserting in lieu
thereof the ratio "4.76 to 1.00."

 

                5.             Amendment to Section 11.4 of
Note Purchase Agreement.  Section
11.4 of the Note Purchase Agreement is hereby amended by deleting the amount
"$7,006,000" set forth opposite the date "September 30,
2006" contained in the table appearing in that Section and inserting in
lieu thereof the amount "$4,200,000."

 

                6.             Amendment to Section 11.5 of
Note Purchase Agreement.  Section
11.5 of the Note Purchase Agreement is hereby amended by deleting the amount
"$20,615,000" set forth opposite the date "September 30,
2006" contained in the table appearing in that Section and inserting in
lieu thereof the amount "$18,500,000."

 

                7.             Amendment to Section 12.1(n) of
Note Purchase Agreement.  Section (n)
of Section 12.1 of the Note Purchase Agreement is hereby amended to read in
full as follows:

 

                "(n)  no
Registration Statement shall have been declared effective by the SEC on or
prior to January 15, 2007. or"

 

                8.             Waiver of Existing Default.  In consideration of the agreements and amendments
herein set forth, the Purchasers hereby irrevocably waive any Event of Default
now existing or which may have heretofore existed by reason of a breach of the
Company of the provisions of Section 12.1(n) of the Purchase Agreement (as in
effect prior to giving effect to this Amendment).

 

                9.             Effectiveness of
Amendment:Issuance of Warrants: Payment of Expenses.  This Amendment shall become and be effective
upon (i) its executive and delivery by the Company and one or more Purchasers
constituting the Majority Purchasers, and (ii) issuance, execution and delivery
by the Company to the Purchasers on the date hereof of the Stock Purchase
Agreement Additional Warrants and the Special Warrants, such Warrants to be
allocated among the Purchasers pro rata in accordance with the respective
outstanding principal amounts of the Notes held by them. It is hereby further
agreement that the Special Warrants shall constitute "Warrants," as
such term is defined in the Stock Purchase Agreement, for all purposes of the
Stock Purchase Agreement, the Registration Rights Agreement, the Note Purchase
Agreement

 

2

 

and the other Note Documents.  The Company also agrees to pay all costs and
expenses incurred by the Purchasers in connection with the negotiation,
preparation, execution and delivery of this Amendment, including, without
limitation, the reasonable fees and disbursements of Nixon Peabody L.L.P.,
special counsel to TICC, and of Breslow & Walker, LLP, special counsel to Seaview,
incurred in connection herewith.

 

                10.           Representations and Warrants of
the Obligors.  The Company represents
and warrants to the Purchasers that:

 

                (a)           After giving effect to this
Amendment, the representation and warranties contained in Section 4 of the Note
Purchase Agreement are true in all material respects on and as of the date
hereof to the same extent as if made on and as of the date hereof except to the
extent that such representations and warranties specifically related to an
earlier date, in which case they are true in all material respects as of such
earlier date, and no Default or Event of Default has occurred and is
continuing.

 

                (b)           The execution, delivery and
performance by the Company of this Amendment are within its corporate powers
and have been duly authorized by all necessary corporate action on the part of
its board of directors.  This Amendment
has been duly executed and delivered by the Company and is the legal, valid and
binding obligation of the Company, enforceable against the Company in
accordance with its terms, except to the extent that such enforcement may be
limited by applicable bankruptcy, insolvency and other similar laws affecting
creditors' rights generally and by general principles of equity.

 

                (c)           Neither the execution and delivery of
the Company of this Amendment, nor the fulfillment of or compliance with the
terms and provisions hereof, will conflict with, or result in a breach or
violation of the terms, conditions or provisions of, or constitute a default
under, or result in the creation of any Lien on any properties or assets of the
Company pursuant to, the Organizational Documents of the Company or any
contract, agreement, mortgage, indenture, lease or instrument to which the
Company is a party or by which it is bound or to which any of its assets are
subject, or any statute, ordinance, law, rule, regulation, order, writ,
judgment, injunction, decree or award to which the Company of any of its assets
are subject.

 

                (d)           No consent, approval or authorization
of or declaration, registration or filing with any Governmental Authority or
any nongovernmental Person, including, without limitation, any creditor or
stockholder of the Company is required in connection with the execution or
delivery by the Company of this Amendment or the performance by the Company of
its obligations hereunder, or as a condition to the legality, validity or
enforceability of this Amendment or any provisions hereof.

 

                (e)           The shares of Company Common Stock
issuable upon exercise of the Stock Purchase Agreement Additional Warrants and
the Special Warrants have been duly and validly reserved for issuance upon such
exercise and, when issued and delivered against payment therefor as provided
therein, will be duly authorized, validly issued, fully paid and non-assessable
and subject to no Liens in respect of the issuance thereof.

 

 

3

 

                11.           Effect of Amendment.  It is hereby agreed that, except as
specifically provided herein, this Amendment does not in any way affect or
impair the terms, conditions and other provisions of the Note Purchase
Agreement, or the obligations of the Company thereunder, and all terms,
conditions and other provisions of the Note Purchase Agreement and the other
Note Documents shall remain in full force and effect except to the extent
specifically amended, modified or waived pursuant to the provisions of this
Amendment.

 

                12.           Counterparts.  This Amendment may be executed in any number
of counterparts, each of which shall be deemed an original, and all of which
taken together shall be deemed to constitute one and the same instrument.  Delivery of any executed counterpart of a
signature page of this Amendment by telecopy or other electronic means shall be
effective as delivery of a manually executed counterpart of this
Amendment.  Delivery of manually executed
counterparts of this Amendment shall immediately follow delivery by telecopy or
other electronic means, but the failure to so deliver a manually executed
counterpart shall not affect the validity, enforceability, or binding effect
hereof.

 

                13.           Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY AND
CONSTRUED AND INTREPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

[Signatures
on next page]

 

 

4

 

                IN
WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day
and year first written above.

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  GENUTECH BUSINESS
  SOLUTIONS, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Lee Danna

  
	
   

  	
   

  	
  Name:

  	
  Lee Danna

  
	
   

  	
   

  	
  Title:

  	
  CEO & President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  PURCHASERS:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  TECHNOLOGY INVESTMENT
  CAPITAL CORP., individually and as Collateral Agent

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Saul B. Rosenthal

  
	
   

  	
   

  	
  Name:

  	
  Saul B. Rosenthal

  
	
   

  	
   

  	
  Title:

  	
  President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SEAVIEW MESSANINE FUND LP

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Seaview GP, LLC, its
  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ David S. Montoya

  
	
   

  	
   

  	
   

  	
  Name: David S. Montoya

  
	
   

  	
   

  	
   

  	
  Title:  Member

  
							

 

 

5Exhibit 10.12

 

	
  

  	
   

  	
  SUBLEASE

   

  CB RICHARD ELLIS, INC.

  BROKERAGE
  AND MANAGEMENT

  LICENSED
  REAL ESTATE BROKER

  

 

1.                   PARTIES

This Sublease, dated September
27, 2005, is made between Corvel Corporation (“Sublessor”), and GenuTec
Business Solutions, Inc. (“Sublessee”).

 

2.                   MASTER LEASE.

Sublessor is the lessee under
a written lease dated August    , 2000, wherein Corvel Corporation (“Lessor”) leased to Sublessor the real
property located in the City of Laguna Niguel, County of Orange, State of California, described as 28202 Cubot Road, Suit 650 (“Master Premises”). Said Lease has been amended by the following
amendments First, Second and Third said lease and amendment are herein
collectively referred to as the “Master Lease” and are attached hereto as
Exhibit “A”, Exhibit “B” shall include additional terms of the sublease and
Exhibit “C” is the floor plan.

 

3.                   PREMISES.

Sublessor hereby subleases to
Sublessee on the terms and conditions set forth in this Sublease the following
portion of the Master
Premises (“Premises”): 10,693 Rentable Square Feet.

 

4.                   WARRANTY
BY SUBLESSOR.

Sublessor warrants and
represents to Sublessee that the Master Lease has not been amended or modified
except as expressly set forth
herein, that Sublessor is not now, and as of the commencement of the Term
hereof will not be, in default or breach of any of the provisions of the Master Lease, and that
Sublessor has no knowledge of any claim by Lessor that Sublessor is in default
or breach of any of the
provisions of the Master Lease.

 

5.                   TERM.

The term of this Sublease
shall commence on November 1, 2005 (but in no event prior to Landlord’s consent
– see Paragraph  15
herein), (Commencement Date”), or when Lessor consents to this Sublease (if
such consent is required under the Master Lease), whichever shall last occur, and end on December 31, 2009 (“Termination
Date”), unless otherwise sooner terminated in accordance with the provisions of this Sublease. In the event the
Term commences on a date other than the Commencement Date. Sublessor and
Sublessee shall execute a memorandum setting forth the actual date of
commencement of the Term. Possession
of the Premises (“Possession”) shall be delivered to Sublessee on the
commencement of the Term. If for any reason Sublessor does not deliver
Possession to Sublessee on the commencement of the Term, Sublessor shall not be
subject to any liability for such failure, the Termination Date shall not be
extended by the delay, and the validity of this Sublease shall not be impaired, but rent shall abate until delivery
of Possession. Notwithstanding the foregoing, if Sublessor has not delivered Possession to Sublessee within thirty (30) days after the
Commencement Date, then at any time thereafter and before delivery of Possession.
Sublessee may give written notice to Sublessor of Sublessee’s intention to
cancel this Sublease. Said notice shall set forth an effective date for such cancellation which shall be at least
ten (10) days after delivery of said notice to Sublessor. If
Sublessor delivers Possession to Sublessee on or before such effective date,
this Sublease shall remain in full force and effect. If Sublessor fails to
deliver Possession to Sublessee on or before such effective date, this Sublease
shall be cancelled, in which case all consideration previously paid by Sublessee
to Sublessor on account of this Sublease shall be returned to Sublessee this
Sublease shall thereafter be of no further force or effect, and Sublessor shall
have no further liability to Sublessee on account of such delay or cancellation.
If Sublessor permits Sublessee to take Possession prior to the commencement of
the Term, such early Possession shall not advance the Termination Date and
shall be subject to the provisions of this Sublease, including without
limitation the payment of rent.

 

6.                   RENT.

6.1    Minimum Rent.  Sublessee
shall pay to Sublessor as minimum rent, without deduction, setoff, notice, or
demand, at 2010 Main Street,
Suite 600, Irvine, CA 92614 or at such other place as Sublessor shall designate
from time to time by notice to Sublessee,
the sum of Sixteen Thousand, Five Hundred Seventy-Four and 15/100 Dollars
($16,574.15) per month, in
advance on the first day of each month of the Term. Sublessee shall pay to
Sublessor upon execution of this Sublease
the sum of Sixteen Thousand, Five Hundred Seventy-Four and 15/100 Dollars ($16,574.15)
as rent for the month of November
2005. If the Term begins or ends on a day other than the first or last day of a
month, the rent for the partial months
shall be prorated on a per diem basis. Additional provisions:

 

Prior to November 1, 2005, Sublessee
shall pay an additional amount to Sublessor One Hundred Eighty Two Thousand
Dollars ($182,000) as part of the Terms and Conditions of the Sublease for F, F
& E and other concessions provided as part of the transaction.

 

6.2    Operating Costs. If
the Master Lease requires Sublessor to pay to Lessor all or a portion of the
expenses of operating the building and/or project of which the Premises are a
part (“Operating Costs”), including but not limited to taxes, utilities or

insurance, then Sublessee
shall pay to Sublessor as additional rent 100% above 2006 Base Year  percent (100%) of the amounts payable by Sublessor for
Operating Cost incurred during the Term. Such additional rent shall be payable as and when Operating Costs are payable
by Sublessor to Lessor. If the Master Lease provides for the payment by Sublessor of Operating Costs on the basis of
an estimate thereof, then as and when adjustments between estimated and actual Operating Costs
are made under the Master Lease, the obligations of Sublessor and Sublessee hereunder shall be adjusted in a like manner;
and if any such adjustment shall occur after the expiration or earlier
termination of the Term, then the
obligations of Sublessor and Sublessee under this Subsection 6.2 shall survive
such expiration or

 

1

 

termination. Sublessor shall,
upon request by Sublessee, furnish Sublessee with copies of all statements
submitted by Lessor of
actual or estimated Operating Costs during the Term.

 

7.                   SECURITY
DEPOSIT.

Sublessee shall deposit with
Sublessor upon execution of this Sublease the sum of  Sixteen Thousand, Five Hundred Seventy-Four
and 15/100 Dollars ($16,574.15 as
security for Sublessee’s faithful performance of Sublessee’s obligations
hereunder (“Security Deposit”). If Sublessee fails to pay rent or other charges
when due under this Sublease, or fails to perform any of its other obligations
hereunder, Sublessor may use or
apply all or any portion of the Security Deposit for the payment of any rent or
other amount then due hereunder and unpaid, for the payment of any other sum for which Sublessor may become obligated by
reason of Sublessee’s default or breach, or for any loss or damage sustained by Sublessor as a
result of Sublessee’s default or breach. If Sublessor so uses any portion of
the Security Deposit, Sublessee shall, within ten (10) days after written
demand by Sublessor, restore the Security Deposit to the full amount originally deposited, and Sublessee’s
failure to do so shall constitute a default under this Sublease. Sublessor
shall not be required to keep the
Security Deposit separate from its general accounts, and shall have no
obligation or liability for payment of Interest on the Security Deposit. In the event Sublessor assigns its interest
in this Sublease, Sublessor shall deliver to its assignee so much of the Security Deposit as is then
held by Sublessor. Within ten (10) days after the Term has expired, or
Sublessee has vacated the
Premises, or any final adjustment pursuant to Subsection 6.2 hereof has been
made, whichever shall last occur, and provided Sublessee is not then in default
of any of its obligations hereunder, the Security Deposit, or so much thereof
as had not theretofore been applied by Sublessor, shall be returned to
Sublessee or to the last assignee, if any, of Sublessee’s interest hereunder.

 

8.                   USE
OF PREMISES.

The Premises shall be used
and occupied only for General office purpose, and for no other use or purpose.

 

9.                   ASSIGNMENT
AND SUBLETTING.

Sublessee shall not assign
this Sublease or further sublet all or any part of the Premises without the
prior written consent of Sublessor
(and the consent of Lessor, if such is required under the terms of the
Master Lease)

 

10.            OTHER PROVISIONS OF SUBLEASE.

All applicable terms and conditions
of the Master Lease are incorporated into and made a part of this Sublease as if
Sublessor were the lessor thereunder. Sublessee the lessee thereunder, and the
Premises the Master Premises, except for the following: Sublessee shall have use of the existing
furniture in the Premises for the Sublease term. There shall be no charge for
said use. Parking shall be unreserved and at no charge and provided at a ratio
4:1000 rentable square feet (43 stalls total), and in no event more than
allotted in the Master Lease. Sublessee
assumes and agrees to perform the lessee’s obligations under the Master Lease
during the Term to the extent that such obligations are applicable to the Premises, except that the obligation
to pay rent to Lessor under the Master Lease shall be considered performed by Sublessee to the
extent and in the amount rent is paid to Sublessor in accordance with Section 6
to this Sublease. Sublessee shall
not commit or suffer any act or omission that will violate any of the provisions
of the Master Lease. Sublessor shall exercise due diligence in attempting to
cause Lessor to perform its obligations under the Master Lease for the benefit
of Sublessee. If the Master Lease terminates, this Sublease shall terminate and
the parties shall be relieved of any further liability or obligation under this
Sublesse, provided however, that if the Master Lease terminates as a result of
a default or breach by Sublessor or
Sublessee under this Sublease
and/or the Master Lease, then the defaulting party shall be liable to the nondefaulting party for the damage suffered as
a result of such termination. Notwithstanding the foregoing, if the Master
Lease gives Sublessor any right
to terminate the Master Lease in the event of the partial or total damage,
destruction, or condemnation of the
Master Premises or the building or project of which the Master Premises are a
part, the exercise of such right by Sublessor shall not constitute a default or breach
hereunder.

 

11.            ATTORNEYS’ FEES.

If Sublessor, Sublessee, or
Broker shall commence an action against the other arising out of or in
connection with this Sublease, the prevailing party shall be entitled to recover its costs of suit and
reasonable attorney’s fees.

 

12.            AGENCY DISCLOSURE:

Sublessor and Sublessee each
warrant that they have dealt with no other real estate broker
in connection with this transaction except CS RICHARD ELLIS, INC., who represents Sublessor and Studley, Inc., who represents Sublessee in
the event that CB RICHARD ELLIS, INC. represents both Sublessor and Sublessee,
Sublessor and Sublessee hereby confirm that they were timely advised of the
dual representation and that they consent to the same, and that they do not
expect said broker to disclose to either of them the confidential information
of the other party.

 

13.            COMMISSION.

Upon execution of this
Sublease, and consent thereto by Lessor (if such consent is required under the
terms of the Master Lease), Sublessor shall pay Broker a real estate brokerage
commission in accordance with Sublessor’s contract with Broker for the
subleasing of the Premises, if any and otherwise in the amount of As per
separate agreement Dollars
($                ),
for services rendered in
effecting this Sublease. Broker is hereby made a third party beneficiary of
this Sublease for the purpose of enforcing its right to said commission.

 

14.            NOTICES.

All notices and demands which
may or are to be required or permitted to be given by either party on the other
hereunder shall be in writing. All notices and demands by the Sublessor to
Sublessee shall be sent by United States Mail, postage prepaid, addressed to
the Sublessee at the Premises, and to the address hereinbelow, or to such other
place as Sublessee may from time to time designate in a notice to the
Sublessor. All notices and demands by the Sublessee to Sublessor shall be sent
by United States Mail, postage prepaid, addressed to the Sublessor at the
address set forth herein, and to such other person or place as the Sublessor
may from time to time designate in a notice to the Sublessee.

 

 

To Sublessor: Corvel
Corporation, 2010 Main St. Ste. 600. Irvine, CA Attn: Mr. Richard Schweppe 

 

To Sublessee: GenuTec
Business Solutions. 28202 Cabot Rd., Ste. 650, Laguna Nigel, CA Attn: Mr. Lee
Danna. CEO 

 

2

 

15.              CONSENT BY LESSOR

THIS SUBLEASE SHALL BE OF NO
FORCE OR EFFECT UNLESS CONSENTED TO BY LESSOR WITHIN 30 DAYS AFTER EXECUTION
HEREOF, IF SUCH CONSENT IS REQUIRED UNDER THE TERMS OF THE MASTER LEASE.

 

16.              COMPLIANCE

The parties hereto agree to comply
with all applicable federal, state and local laws, regulations, codes,
ordinance; and administrative orders having jurisdiction over the parties,
property or the subject matter of this Agreement, including, but not  limited to, the 1964 Civil Rights Act and all
amendments thereto, the Foreign Investment In Real Property Tax Act the Comprehensive Environmental Response
Compensation and Liability Act, and The Americans With Disabilities Act.

 

	
  Sublessor:

  	
  Corvel Corporation

  	
   

  	
  Sublessee:

  	
  GenuTec Business Solutions

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Richard Schweppe

  	
   

  	
  By:

  	
  Lee Danna

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
  Dir. Finance

  	
   

  	
  Title:

  	
  CEO

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
  /s/ Lee Danna

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  9/28/05

  	
   

  	
  Date:

  	
   

  
							

 

LESSOR’S CONSENT TO SUBLEASE

The undersigned (“Lessor”), lessor under the Master Lease, hereby
consents to the foregoing Sublease without waiver
of any restriction. In the Master
Lease concerning further assignment or subletting. Lessor certifies that, as of
the date of Lessor’s execution hereof. Sublessor is not in default or breach of
any of the provisions; of the Master lease, and that the Master Lease has not
been amended or modified except
as expressly set forth in the
foregoing Sublease.

 

	
  Lessor:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Date:

  	
   

  	
   

  
					

 

CONSULT YOUR ADVISORS- This document has been prepared for approval by
your attorney. No representation or recommendation is made by CB Richard Ellis
as to the legal sufficiency or tax consequences of this document or the
transaction to which it relates. These are questions for your attorney.

 

In any real estate transaction, it is recommended that you consult with
a professional, such as a civil engineer, industrial hygienist or other person
with experience in evaluating the condition of the property, including the
possible presence of asbestos, hazardous materials and underground storage
tanks.

 

3

 

Exhibit “B”

 

1.                                       Subject to terms of the Master Lease,
Sublessor agrees to cooperate with Sublessee
in obtaining Landlord approval for any required alterations to the Premises and any such alterations shall be at
the sole cost of Sublessee.

 

	
   

  	
  Initial:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Sublessee

  	
  Sublessor

  

 

 

EXHIBIT “C”

 

FLOOR PLAN OF NEW PREMISES

 

 

1

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