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                                                                   EXHIBIT 10.27

                                TRIPLE NET LEASE

THIS TRIPLE NET LEASE is made and entered into by and between JUBILATION
ENTERPRISES, LLC, a Washington limited liability company (herein "Lessor"), and
TELECT, INC., a Washington corporation (herein "Lessee"), on the 24th day of
August, 2000.

WHEREAS, Lessor has entered into a Real Estate Purchase and Sale Agreement dated
July 10, 2000 for the purchase of real property being approximately 8.96 acres
in size, upon which is located an existing building consisting of approximately
80,400 square feet of manufacturing and office space including adjacent parking
areas (herein the "Premises"); and

WHEREAS, the Premises includes about 3.92 acres of undeveloped land (herein the
"Undeveloped Land") upon which Lessor intends to develop additional parking
space and to construct additional building space; and

WHEREAS, the Premises are current subject to a lease for a term of years dated
May 31, 1996 wherein Accra-Fab, Inc., a Washington corporation, is lessee
(herein the "Accra-Fab Lease"); and

WHEREAS, upon the closing of the purchase of the Premises by Lessor, the term of
the Accra-Fab Lease will be reduced by amendment so that the Accra-Fab lease
will expire on July 31, 2001 subject to lessee's right to holdover not exceeding
October 31, 2001, and further Lessor will be entitled, prior to the expiration
of the Accra-Fab Lease, to use and occupy so much of the Undeveloped Land as
Lessor shall determine necessary for the development of parking and additional
building space; and

WHEREAS, it is intended, subject to the foregoing, that this Lease Agreement be
entered into as of the date hereof, but to be effective as to possession of a
portion of the Premises upon completion by Lessor of the construction of the
parking area on the Undeveloped Land and as to the balance of the Premises upon
the expiration of the Accra-Fab Lease and the vacation of the Premises by
Accra-Fab;

NOW, THEREFORE, subject to the foregoing recitals and in consideration of the
mutual promises and covenants hereinafter expressed, the parties hereto agree as
follows:

1.      Premises. Lessor hereby leases unto Lessee and Lessee hereby leases from
        Lessor, for the term and under the conditions hereinafter set forth,
        that certain parcel of real property legally described on Schedule I
        attached hereto including all present and to be constructed improvements
        thereon (hereinafter called "Premises") at 1611 N. Molter Road, Liberty
        Lake, Washington, in accordance with the site plan and elevation
        attached hereto as Schedules II and III, and all easements and other
        rights appurtenant to the Premises, including but not limited to
        nonexclusive rights to ingress, egress, and parking.

        Notwithstanding the foregoing and Section 2 hereof, upon completion of
        construction of the

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        parking on the Undeveloped Land by Lessor and delivery of the same to
        Lessee, monthly rent for the said parking shall become due and payable
        beginning on the date of delivery in an amount equal to the fair market
        rental value of such parking area as determined by the parties. In the
        event that the parties cannot agree upon the rental amount not less than
        thirty (30) days before the anticipated date of delivery of the parking
        area to Lessee, then the determination thereof shall be submitted to
        arbitration in accordance with Section 29 hereof.

2.      Commencement Date. The lease term shall commence at 12:01 a.m. on the
        date (hereinafter called "Commencement Date") that Lessor delivers
        possession of the Premises to Lessee after the Accra-Fab Lease expires
        and Accra-Fab has vacated the Premises.

3.      Term. The term of this lease shall be for the period commencing on the
        Commencement Date and ending September 30, 2012; provided, however, that
        the term of this lease may be extended as provided in Section 19 hereof.
        The phrase "Lease Term," as used in this lease, shall be the term of
        this lease and any extension thereof pursuant to said Section 19.
        Notwithstanding the foregoing, at any time after September 30, 2002, and
        from time to time thereafter, Lessee may, upon giving not less than
        twelve (12) months prior written notice to Lessor, reduce the number of
        square feet of the Premises occupied by Lessee all within the sole
        discretion of Lessee. The notice shall specify the amount of the square
        foot reduction, and the location thereof within the Premises and the
        effective date such reduction is to take place. Lessee shall upon the
        effective date vacate that portion of the Premises described in the
        notice in accordance with the terms of this Lease and the Monthly Rent
        shall thereupon be proportionately reduced. The parties shall forthwith
        execute an amendment to the Lease describing such changes.

4.      Monthly rental. Lessee shall, during the Lease Term, pay to Lessor at
        25425 E. Mission Avenue, P.O. Box 629, Liberty Lake, Washington 99019,
        or such other place as Lessor shall designate in writing from time to
        time, without setoff or deduction for any reason whatsoever, a monthly
        rental in an amount to be determined based upon the fair market value of
        the Premises including all improvements, newly constructed improvements
        and any previously delivered parking area as provided in Section 1. In
        the event that the parties cannot agree on the amount of monthly rental
        prior to thirty (30) days before the Commencement Date, then the same
        shall be submitted to arbitration in accordance with Section 29 hereof.
        The monthly rental shall be prorated for partial months falling within
        the Lease Term, and shall be payable in advance on or before the first
        day of each calendar month during the Lease Term; provided, however,
        that the first payment shall be due on the Commencement Date. If any
        rent payment is not received by Lessor within five (5) days after the
        due date (or on the next business day if the fifth day is not a business
        day), then Lessee shall pay as additional rent the sum of five percent
        (5%) of the delinquent payment for each month or portion thereof that
        the payment remains overdue.

5.      Additional rental. In addition to the monthly rental, as additional
        rental Lessee shall pay to the public authorities charged with the
        collection thereof, promptly as the same becomes due and payable, all
        taxes, general and special, permits, inspection and license fees, and
        other public charges or assessments, whether of a like or different
        nature, levied upon or assessed against the Premises and any buildings,
        structures, fixtures or improvements now or hereafter located

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        thereon, or arising in respect of the occupancy, use or possession of
        the Premises, and which become, or installments of which become, due and
        payable during the Lease Term or which may otherwise become the
        obligation of Lessor in respect of the Lease Term. Where appropriate,
        such charges shall be apportioned between Lessor and Lessee to account
        for the commencement and termination of the Lease Term. Charges to be
        paid by Lessee as additional rental shall include but not be limited to
        the following:

        a.      Real estate taxes. Lessee shall pay all real estate taxes
                imposed in connection with the demised Premises, including any
                increase in such taxes whether by reason of an increase in
                either the tax rate or the assessed valuation, or the assessment
                or imposition of any tax on real estate not levied, assessed or
                imposed at the commencement of the Lease Term, or for any other
                reason.

        b.      Assessments. In the event of any assessment for public
                betterments or improvements which may be levied on the Premises,
                Lessee shall pay any such assessment or any installment thereof
                due and payable at any time during the Lease Term. At Lessee's
                option, Lessor shall take the benefit of the provisions of any
                statute or ordinance permitting any such assessment to be paid
                over a period of time, and Lessee shall be obligated to pay only
                installments which shall become due and payable during the Lease
                Term.

        c.      Rental taxes. Lessee shall pay Lessor an amount which would be
                sufficient to yield a net monthly rental equal to that set forth
                in Section 4, above, after payment by Lessor of any tax based or
                levied upon or measured by such gross or net rental income now
                or hereafter imposed on Lessor by the State of Washington, the
                County of Spokane, or any political subdivision of either of the
                foregoing.

        d.      Licenses and other taxes. Lessee shall be liable for and shall
                pay for all licenses, excise fees, sales tax, use, business and
                occupation taxes, together with any other taxes incurred in the
                operation of its business. Lessee shall not permit any lien to
                be filed against the Premises because or on account of any such
                fee, license, tax or other charge.

        e.      Contest of liability. Lessee shall not be required to pay,
                discharge or remove any tax (including penalties and interest),
                tax lien, forfeiture or other imposition or charge upon or
                against the Premises, or any part thereof, or the improvements
                at any time situated thereon, so long as Lessee shall in good
                faith contest the same or the validity thereof by appropriate
                legal proceedings which shall operate to prevent the collection
                of the tax, forfeiture, lien or imposition so contested, or the
                sale of said Premises or any part thereof to satisfy the same.
                Pending any such legal proceedings, Lessor shall not have the
                right to pay, remove or discharge the tax, forfeiture, lien or
                imposition thereby contested. Any proceeding or proceedings for
                contesting the validity or amount of taxes, or other public
                charges, or to recover back any tax or other imposition paid by
                Lessee, may be brought by Lessee in the name of Lessor or in the
                name of Lessee, or both, as Lessee may deem advisable. However,
                if any such proceeding be brought by Lessee, Lessee shall
                indemnify and hold Lessor harmless against any and all loss,
                costs or expenses of any kind that may be imposed upon

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                Lessor in connection therewith, and Lessor shall have the right,
                at any time while such taxes remain unpaid, to demand and
                receive a surety bond satisfactory to Lessor protecting Lessor
                against loss arising out of such contested taxes, and Lessee
                agrees to furnish such bond promptly on demand by Lessor.

        f.      Compliance. Lessee agrees to exhibit to Lessor on demand
                receipts evidencing payment of all such taxes, assessments or
                other charges to be paid by Lessee as additional rental. If
                Lessee shall default in the payment of any taxes or public
                charges required to be paid by Lessee, Lessor shall have the
                right, in addition to all other remedies, to pay the same,
                together with any penalties and interest, in which event the
                amount so paid by Lessor shall be paid by Lessee to Lessor on
                demand, together with interest thereon at the rate of fifteen
                percent (15%) per annum.

6.      Use of Premises. The Premises shall be used and occupied only as
        combined office, manufacturing and for general business purposes, and
        for no other purpose without the written consent of Lessor. Lessee
        agrees that it shall not permit any act to be done on or about the
        Premises that is unlawful or improper. Lessee shall not commit, or allow
        to be committed, any waste, and shall not use or permit any part of the
        Premises to be used for any illegal or immoral purpose or in any way as
        to constitute a public or private nuisance. Lessee shall, at its own
        expense, observe and comply with all laws, ordinances and regulations of
        all duly constituted governmental authorities, and shall observe such
        reasonable rules and regulations as may be adopted and published by
        Lessor for the safety, care, cleanliness and benefit of the Premises,
        and for the preservation of good order therein.

7.      Utilities. Lessee shall be liable for and shall timely pay for all
        utilities used on the Premises, including but not limited to heat,
        lights, electricity, gas, water, sewage and garbage disposal service.
        Lessee shall promptly reimburse Lessor for all such expenses mistakenly
        charged to Lessor.

8.      Maintenance and repair. During the Lease Term, Lessee shall, at is own
        cost and expense, care for and maintain in good condition and repair the
        foundations, exterior walls and roof, and all other exterior portions of
        the building on the Premises. Lessee shall replace windows and other
        glass cracked or broken as a result of forces from inside or outside the
        building, and shall otherwise pay for and perform all other maintenance
        necessary to keep the Premises in a good state of repair, reasonable
        wear and tear excepted. Without limiting the generality of the
        foregoing, Lessee shall, at Lessee's expenses, keep in good order,
        condition and repair the heating, ventilating and air conditioning
        system, boilers, elevators, doors, frames, moldings, locks and other
        hardware, plumbing and any mechanical or electrical apparatus which
        services or constitutes a fixture or part of the Premises. Lessee will
        pay all licenses and fees for the maintenance, inspection and operation
        of any parts of the Premises requiring the same. Lessee shall, at the
        expiration or termination of the lease, surrender and deliver the
        Premises to Lessor in as good condition as when received by Lessee from
        Lessor, or as thereafter improved, reasonable wear and tear from normal
        use with required maintenance excepted. Lessee shall repair any damage
        to the Premises occasioned by Lessee's use thereof, or by the removal of

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        Lessee's trade fixtures or equipment, which repairs shall include the
        patching and filling of any holes and repair of any structural damage.
        Lessee agrees to maintain all sidewalks on or appurtenant to the
        Premises in a clean condition according to local ordinances under the
        directions of appropriate governmental offices, at its own costs and
        expense, and to keep such areas reasonably free and clean of foreign
        objects, papers, debris, obstructions, standing water, snow and ice.
        Lessee shall furnish its own janitorial service and shall keep the
        Premises in a neat, clean and orderly condition and will operate the
        same at all times in compliance with all state and local laws,
        ordinances and regulations.

9.      Alterations and improvements. Lessee shall, at its own expense, make all
        repairs, modifications or alterations to the building on the Premises
        that may be lawfully required pursuant to any Federal, state or
        municipal law, ordinance or regulation. Lessee may from time to time and
        at its own expense make repairs, replacements, additions, improvements,
        alterations or changes necessary or appropriate for the proper and
        suitable use of the building; provided, always, that such repairs,
        modifications, replacements additions, improvements, alterations or
        changes will not lessen the then value of the Premises, and shall be in
        accordance with plans and specifications prepared by Lessee and
        submitted to Lessor for approval, which approval shall not be
        unreasonably withheld. The provisions of the preceding sentence with
        respect to submitting plans and specifications to Lessor shall not apply
        if the change to be made involves an expense of less than Five Thousand
        Dollars ($5,000.00). As a condition to giving consent, Lessor may
        require that Lessee remove any such alterations, improvements or
        additions, including utility installations, at the expiration of the
        Lease Term, and restore the Premises to its prior condition. If Lessor
        shall fail to object to such plans and specifications within thirty (30)
        days after such submission, the same shall be deemed approved. All work
        shall be done in a good and workmanlike manner, and when completed by
        free and clear of all claims for liens by mechanics or materialmen for
        or on account of labor and materials furnished in and about such
        operations. Nothing herein contained shall be construed to authorize or
        empower Lessee to encumber the Premises with any kind or form of lien,
        but such right of lien shall not exist, and this lease and its recording
        or the recording of a memorandum hereof is intended as notice to any and
        all persons doing work or labor or furnishing materials that none of
        them shall have the right to a lien of any kind whatsoever upon the
        Premises. Except as specifically provided herein otherwise, any
        improvements made by Lessee shall become part of the Premises and owned
        by Lessor upon termination of this lease. Lessee shall hold Lessor
        harmless from any damage, loss or expense arising out of any work done
        pursuant to this Section 9.

10.     Lessor's access. Lessor and its agents shall have unrestricted access to
        all portions of the Premises at all times for the purpose of examining
        the condition thereof, or for the purpose of showing the Premises to
        prospective purchasers, Lessees or lenders. Furthermore, in the event it
        becomes necessary in order to preserve the Premises, Lessor may elect to
        make necessary repairs, alterations or additions thereto, it being
        understood, however, that such repairs, alterations or additions should
        not be made by Lessor until having first served Lessee with notice of
        the necessity of making the same, and Lessee shall have refused to
        comply with such notice for a period of thirty (30) days. Lessee shall,
        on demand, reimburse Lessor for all sums expended to make such needed
        repairs, together with interest compounded daily at the rate of

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        twelve percent (12%) per annum. No compensation shall be paid to or
        claimed by Lessee from Lessor by reason of inconvenience, annoyance or
        damage of any kind whatsoever arising from inspecting or showing the
        Premises, or f making repairs, maintenance or alterations to the
        Premises. Nothing herein shall be construed as an agreement on the part
        of Lessor to make and repair or alteration whatsoever.

11.     Signage. Lessee shall be entitled to place appropriate signage on the
        Premises for purposes of identification and advertising, subject to the
        prior written approval of Lessor, which shall not be unreasonably
        withheld. All signage shall remain upon and be surrendered with the
        Premises at the expiration of the Lease Term, subject to the right of
        Lessee to remove the signage itself if it can be done without material
        damage. However, as a condition to giving consent to improvements which
        display signage, Lessor may require that Lessee remove the improvement
        at the expiration of the Lease Term and restore the Premises to its
        prior condition.

12.     Liability and insurance. Lessee, at is sole cost and expense, agrees to
        take out or cause to be taken out and maintained in force during the
        Lease Term public liability insurance in responsible insurance companies
        to protect Lessee and Lessor against liability to the public occasioned
        through the use of or resulting from any accident occurring in, upon or
        about the Premises. Such insurance shall be in the minimum amount of
        Fifty Thousand Dollars ($50,000.00) for property damage, the minimum
        amount of Five Hundred Thousand Dollars ($500,000.00) with respect to
        the claim of one (1) person and One Million Dollars ($1,000,000.00) with
        respect to the claims of two (2) or more persons. Lessor shall be named
        as an additional insured on all such policies and Lessee shall furnish
        Lessor with a certificate evidencing that Lessee has obtained or
        provided for such a policy and that the insurance carrier has assumed
        the liability of Lessee as required under this agreement.

        a.      Exoneration of Lessor. All personal property in and upon the
                Premises shall be the sole risk of Lessee, and Lessor shall not
                be liable for any damage, either to person or property sustained
                by Lessee or any other person because of the use and occupancy
                of the Premises, or on account of any act or omission of the
                Lessee, its agents, employees, customers or patrons, or due to
                the happening of any accident in connection with the use and
                occupation of the Premises, unless such accident shall have been
                occasioned by the negligence of the Lessor or its agents or
                employees. Lessor shall not be liable for any damage to property
                or person from any water, gas, smoke or electricity which may
                leak from or flow from any part of the Premises or from the
                pipes or plumbing works of same.

        b.      Indemnity of Lessor. Lessee agrees to indemnify and hold Lessor
                harmless from and defend Lessor against any and all claims,
                suits, demands, or judgments from any injury or damage to any
                person or property, including loss of use thereof, whatsoever
                arising out of the use or occupancy of the Premises by Lessee or
                occasioned by the negligence of Lessee, its agents, employees,
                sublessees, licensees or concessionaires, or of any other person
                entering the Premises under the express or implied invitation of
                Lessee, or arising out of any breach or default by Lessee in the
                performance of its obligations hereunder.

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13.     Casualty loss and insurance. At all times during the term of this lease,
        Lessee will keep or cause to be kept, at its own expense, the building
        and other improvements now existing or hereafter erected on the
        Premises, insured against the risks covered by the uniform standard from
        of fire insurance policy with extended coverage endorsement, in an
        amount sufficient to prevent Lessor or Lessee from becoming a co-insurer
        within the terms of applicable policies, but in any event in an amount
        of not less than the full replacement insurable cost thereof. Lessee's
        obligation under the preceding sentence shall be deemed to have been
        fully performed if the insurance is based upon the standard valuation
        letter issued by the insuring company or its agent. All insurance
        policies maintained pursuant to this clause shall be carried in favor of
        Lessor, Lessee and any mortgagee of the Premises as their interests may
        appear. The originals of all such policies and renewals shall be
        retained by Lessee, and duplicate originals or suitable insurance
        certificates shall be delivered to Lessor and any mortgagee of the
        Premises.

        a.      Insurable restoration. If at any time after the commencement of
                the term of this lease any of the improvements on the Premises
                shall be damaged or destroyed by any of the perils covered by
                the type of insurance policy described in this Section 13, this
                lease shall continue in full force and effect, and Lessee shall
                promptly, and at its sole expense, repair and restore the
                improvements on the Premises to substantially the condition in
                which the same existed prior to the casualty. The proceeds of
                such insurance policy shall be disbursed to Lessee as
                construction progresses to be used for the purpose of repairing
                and restoring the Premises as herein provided.

        b.      Insurable reconstruction. If the building shall be damaged or
                destroyed to such an extent that the construction of an entirely
                new building shall be required or be advisable, Lessor may elect
                either to terminate this lease or require the Lessee to erect,
                with reasonable diligence, a suitable replacement building, in a
                good and workmanlike manner, at its sole cost and expense, in
                compliance with all requirements of law and governmental rules
                and regulations, and in accordance with plans and specifications
                which shall be approved by Lessor. Such new building shall not
                be of substantially cheaper poorer or weaker character or
                construction that the building so destroyed. Lessor shall give
                written notice to Lessee of its election within sixty (60) days
                after the occurrence of such casualty.

        c.      Uninsurable damage or destruction. If the improvements on the
                Premises are substantially damaged or destroyed as a result of
                any cause or peril not covered by the type of insurance policy
                described in this Section 13, either party shall have the option
                of terminating this lease or of repairing or rebuilding the
                building; provided, however, that Lessee shall not have the
                option if such damage or destruction is due to the negligence of
                Lessee or any of its agents or employees. Within sixty (60) days
                after such damage or destruction, each party shall notify the
                other of such party's intentions.

        d.      Insufficient or excessive insurance proceeds. If for any reason
                whatsoever Lessee has failed to keep and maintain insurance in
                the amounts required by the Section 13, Lessee agrees to supply
                all such additional funds as may be necessary for the repair,
                restoration or rebuilding of the Premises as required by this
                Section 13. In any other case, Lessee's obligation to

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                rebuild and repair under this Section 13 shall be limited to the
                extent of the net insurance proceeds available to Lessee for
                restoration or reconstruction. If the insurance proceeds are in
                excess of the amount used by Lessee to replace, repair or
                restore the Premises, such excess sums shall inure to the
                benefit of Lessee.

        e.      Abatement of rent. In no event shall the minimum annual rental
                abate hereunder by reason of any damage or destruction, unless
                the Lease Term is terminated by mutual agreement of the parties
                or at the option of either party as provided in Section 13.

14.     Miscellaneous insurance provisions. All insurance of any kind required
        to be maintained by Lessee under this lease shall be governed by the
        following provisions:

        a.      Qualifications. All insurance shall be issued as a primary
                policy for a period of not less than one (1) year, by insurance
                companies authorized to do business in the State of Washington
                and with a financial rating of at least an A status as rated in
                the most recent edition of Best's Insurance Reports. Policies
                shall contain an endorsement requiring twenty (20) days' written
                notice from the insurance company to both parties and any
                mortgagee of the Premises before expiration, cancellation or
                change in the coverage, scope or amount of any policy.

        b.      Waiver of subrogation. Lessor and Lessee hereby mutually release
                each other and their respective officers, employees, agents and
                representatives from all claims and liabilities for loss or
                damage to any person or to the Premises or any property in or on
                the Premises, that are caused by or result from risks insured
                against under any insurance policy in force at the time of any
                such loss or damage, whether or not such loss or damage shall be
                caused by the negligence of either party or their agents. Each
                insurance policy required under this lease shall provide that
                the insurance company waives all right of recovery by way of
                subrogation against either party in connection with any loss or
                damage covered by such policy.

        c.      Proof. The originals of all insurance policies and renewals may
                be retained by Lessee, but duplicate originals or suitable
                insurance certificates shall be delivered to Lessor and any
                mortgagee of the Premises. Not less than twenty (20) days prior
                to the expiration of any policy of insurance, Lessee will
                deliver to Lessor a renewal or new policy to take the place of
                the policy expiring.

        d.      Failure to maintain insurance. If Lessee shall fail to furnish
                insurance policies as provided in this lease, or to deliver said
                policies and renewals or certificates thereof or binders pro
                tempore as provided herein, or to pay any premium on such
                insurance, Lessor may procure such insurance or pay the premium
                therefor, or both, and such amounts shall immediately become due
                to Lessor payable upon demand by Lessor, together with interest
                compounded daily at the rate of twelve percent (12%) per annum.

        e.      Combination insurance. With respect to insurance coverage
                required under this lease, should Lessee desire to carry such
                coverages so as to apply to the Premises together with other
                property owned or controlled by Lessee, its parent or affiliated
                companies, customary and

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                proper certificates of the insurance carrier in each instance,
                as to such insurance coverage, delivered to Lessor and any
                mortgagee of the Premises shall be deemed sufficient proof of
                compliance with Lessee's insurance obligations under this lease,
                as to both original coverage and renewals, provided that such
                certificate shall show that the parties insured are Lessee,
                Lessor, and any mortgagee of the Premises, as their interest may
                appear.

15.     Condemnation. In the event that all or any portion of the Premises
        should be taken for any public or quasi-public use under any
        governmental law, ordinance or regulation, or by right of eminent domain
        or by private purchase in lieu thereof, the following provisions shall
        apply:

        a.      Total condemnation. If the entire Premises shall be acquired or
                condemned by eminent domain, then the term of this lease shall
                cease as of the date title or possession shall be transferred in
                such proceedings, whichever date shall first occur, and all
                rentals shall be paid up to that date and Lessee shall have no
                claim against Lessor for the value of any unexpired term of this
                lease.

        b.      Partial condemnation. If a substantial part of the Premises
                shall be acquired or condemned by eminent domain, the whole
                determination of which shall be in the reasonable discretion of
                Lessor, then the term of this lease and all rights and
                obligations thereunder shall cease and terminate as of the date
                of transfer of title or possession in such proceeding, whichever
                date shall first occur. All rentals shall be paid up to that
                date and Lessee shall have no claim against Lessor for the value
                of any unexpired term of this lease. In the event of a partial
                taking or condemnation which is not extensive enough to be
                determined by Lessee as substantial, this lease shall continue
                in full force and effect. To the extent that funds are paid to
                Lessor out of award in condemnation, they will be used by Lessor
                to promptly restore the Premises insofar as possible to a
                condition comparable to the time before such condemnation, less
                the portion lost in taking.

        c.      Damages. In the event of any condemnation or taking as
                hereinabove provided, whether whole or partial, Lessee shall not
                be entitled to any part of the award, as damages or otherwise,
                for such condemnation, and Lessor is to receive the full amount
                of such award. Lessee hereby expressly waives any claim or right
                to any part thereof. Although all damages in the event of any
                condemnation are to belong to Lessor whether or not such damages
                are awarded as condemnation for the diminution of value in the
                leasehold or to the fee of the Premises, Lessee shall have the
                right to claim and recover from the condemning authority, but
                not from Lessor, such compensation as may be separately awarded
                on recoverable by Lessee in the Lessee's own right on account of
                any and all damage to Lessee's business by reason of the
                condemnation and for and on account of any costs or loss to
                which Lessee might be put in removing the furniture, fixtures
                and equipment.

16.     Events of default. The following events shall be deemed to be events of
        default by Lessee under this lease:

        a.      Failure to pay rent. Lessee shall fail to pay any installment of
                rent or additional rent

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                hereunder and such failure shall continue for a period of twenty
                (20) days after written notice thereof to Lessee.

        b.      Failure of Lease Terms. Lessee shall fail to comply with any
                term, provision or covenant of this lease, and shall not cure
                such failure within thirty (30) days after written notice
                thereof to Lessee.

        c.      Financial difficulties. Lessee shall: (i) become insolvent, or
                shall make a transfer in fraud of creditors, or shall make an
                assignment for the benefit of creditors; (ii) file a petition
                under any section or chapter of the National Bankruptcy Act, as
                amended, or under any similar law or statute of the United
                States or any state thereof, or Lessee or any guarantor of
                Lessee's obligations under this lease shall be adjudged bankrupt
                or insolvent in proceedings filed against Lessee; or (iii) have
                a receiver or trustee appointed for all the Premises or for all
                or substantially all of the assets of Lessee.

        d.      Abandonment. Lessee shall desert or vacate the Premises.

17.     Remedies upon default. In addition to any of the remedies Lessor may
        have at law or in equity, upon the occurrence of any event of default
        Lessor shall have the option to pursue any one or more of the following
        remedies without any notice or demand whatsoever:

        a.      Continuation of lease. Lessor may continue this lease in full
                force and effect, and the lease will continue in effect as long
                as Lessor does not terminate Lessee's right to possession, and
                Lessor shall have the right to collect rent when due. During the
                period Lessee is in default, Lessor may enter the Premises and
                relet it, or any part of it, to third parties for Lessee's
                account. Lessee shall pay to Lessor the rent due under this
                lease on the dates the rent is due, less the rent Lessor
                receives from any reletting.

        b.      Removal. Lessor may enter upon and take possession of the
                Premises and expel or remove Lessee and any other person who may
                be occupying the Premises or any part thereof, without being
                liable for prosecution or any claim for damages therefor, and if
                Lessor so elects, relet the Premises on such terms as Lessor may
                deem advisable and receive the rent therefor; and Lessee agrees
                to pay to Lessor on demand any deficiency that may arise by
                reason of such reletting.

        c.      Termination. Lessor may terminate this lease, in which event
                Lessee shall immediately surrender the Premises to Lessor, and
                if Lessee fails to do so, Lessor may, without prejudice to any
                other remedy which it may have for possession or arrearages in
                rent, enter upon and take possession of the Premises and expel
                or remove Lessee and any other person who may be occupying the
                Premises or any part thereof, without being liable for
                prosecution for any claim or damages therefor; and Lessee agrees
                to pay to Lessor on demand the amount of all loss and damage
                which Lessor may suffer by reason of such termination.

18.     Lease end. Lessee shall, upon the expiration or sooner termination of
        this lease, peacefully

                                       10
<PAGE>   11

        vacate the Premises and remove all goods and effects not belonging to
        Lessor in a manner which avoids material injury to the Premises, and
        will deliver to Lessor the Premises free and in good, neat, clean and
        sanitary condition in all respects, except for reasonable wear and tear
        and damage not caused by any act or omission of Lessee, its employees,
        agents, customers, licensees or concessionaires. Lessee shall surrender
        keys for the Premises to Lessor and shall inform Lessor of all
        combinations, locks, safes and vaults, if any, in the Premises. Any
        damage to the Premises occasioned by removal of Lessee's goods and
        effects shall be repaired and paid for by Lessee.

        a.      Removal of fixtures. At the end of the term of this lease, or
                any extension or renewal thereof, Lessor will permit the removal
                of all fixtures of the Lessee placed by it in or on the
                Premises, including exterior signs, except those fixtures
                permanently affixed to the real estate or those which cannot be
                removed without permanent injury to said real estate. If Lessee
                shall fail to remove any of its property of any nature
                whatsoever from the Premises at the termination of this lease,
                or when Lessor has the right of re-entry, Lessor may, at its
                option, remove and store said property without liability for
                loss thereof or damage thereof, except as a result of Lessor's
                negligence, such storage to be for the account, and at the
                expense, of Lessee. If Lessee shall not pay the cost of storing
                any such property after it has been stored for a period of
                thirty (30) days or more, Lessor may, at its option, sell or
                permit to be sold, any or all of such property at public or
                private sale, in such a manner and at such times and places as
                Lessor, in its sole discretion, may deem proper, upon ten (10)
                days' prior notice to Lessee. The proceeds of sale shall be
                applied in order of priority: (i) to the cost and expense of
                such sale, including reasonable attorneys' fees; (ii) to the
                payment of the costs or charges for storing any such property;
                (iii) to the payment of any other sums of money which may then
                be, or thereafter become, due Lessor form Lessee under any of
                the terms hereof; (iv) the balance, if any, to Lessee. Except as
                specifically provided herein, all erections, alterations,
                additions and improvements to the Premises, whether temporary or
                permanent in character, which may be made upon the Premises
                either by Lessor or Lessee, shall be the property of Lessor and
                shall remain upon and be surrendered with the Premises as a part
                thereof at the termination of this lease, without compensation
                to Lessee.

        b.      Holdover. If Lessee, with the consent (expressed or implied) of
                the Lessor, shall holdover after the expiration of the Lease
                Term, the Lessee shall remain bound by the terms, covenants and
                agreements hereof, except the tenancy will be one from month to
                month.

        c.      Sale of Premises. The voluntary or involuntary sale or other
                disposition of the Premises by Lessor shall not terminate or in
                any way affect the validity of this lease.

19.     Renewal options. Providing that Lessee is in compliance with all of the
        terms, covenants and conditions of this lease, Lessor agrees that Lessee
        shall have the option to renew this lease for one (1) additional period
        of five (5) years beyond the initial term hereof at a rental to be
        agreed upon and otherwise upon the same terms and conditions as set
        forth herein. Written notice of the exercise of a renewal option shall
        be given by Lessee to Lessor at least ninety (90) days prior to the
        expiration of the term of this lease. If the parties hereto cannot agree
        on a rental for the renewal term prior to thirty (30) days before the
        commencement thereof, then the same is to be

                                       11
<PAGE>   12

        submitted to arbitration in accordance with Section 29.

20.     Assignment and subletting. Lessee shall not assign or in any manner
        transfer this lease or any estate or interest therein, or sublet the
        Premises or any part thereof, or grant a license, concession or other
        right of occupancy of any portion of the Premises, without the prior
        written consent of Lessor. Consent by Lessor to one or more assignments
        or sublettings shall not operate as a waiver of Lessor's rights as to
        any subsequent assignments and sublettings. The acceptance of rent from
        any person other than Lessee shall not be deemed to have waived any of
        the provisions of this paragraph or to be a consent to the assignment of
        this lease or the subletting of the Premises, and shall not relieve
        Lessee from its obligations hereunder. Every permitted assignee shall
        become such upon the express condition that it become and remain
        responsible for the provisions of this lease. Notwithstanding any
        assignment or subletting, Lessee and any guarantor of Lessee's
        obligations under this lease shall at all times remain fully responsible
        for compliance with all of its other obligations under this lease. For
        the purpose of this lease, the sale, conveyance, lease, assignment,
        transfer, pledge, encumbrance or other transaction which changes, or
        might result in a change, of any ownership of stock in the Lessee, or
        control of the assets of Lessee, shall be deemed an assignment within
        the meaning of this lease. Any merger, dissolution, reorganization or
        other corporate change modifying the control of Lessee shall be deemed
        an "assignment" which cannot be accomplished without the prior written
        consent of Lessor. Any assignment, sublease, mortgage, pledge or other
        encumbrance of Lessee's interest in this lease or in the Premises
        without the prior written consent of the Lessor shall be void.

21.     Subordination. This lease shall at all times be subject, subordinate,
        and inferior in lien with respect to any first mortgage or deed of trust
        that may be placed upon the Premises or any part thereof given by Lessor
        to any institutional or individual lender, and the recording of such
        mortgage or deed of trust shall be deemed prior in lien to this lease,
        irrespective of the date of recording of such mortgage, and Lessee will,
        upon demand, execute any instrument necessary to effectuate such
        subordination; provided, however, that such subordination shall not
        affect Lessee's right to possession, use and occupancy of the Premises
        so long as Lessee shall not be in default under any of the terms and
        conditions of this lease.

22.     Triple net lease. It is the intention of the parties, and this lease is
        to be so construed that during the term of this lease Lessor shall not
        be obligated to pay any charges, expenses, taxes or costs of any sort
        whatsoever arising out of or in connection with ownership of the
        Premises, the maintenance thereof, the use and occupation thereof by
        Lessee, or the payment of rent by Lessee to Lessor, all of which are to
        be borne by Lessee alone. However, this provision shall not be construed
        to supersede explicit provisions regarding damage to the Premises and
        condemnation of the Premises, set forth in Sections 13 and 15,
        respectively.

23.     Relationship of parties. Nothing herein contained shall be deemed or
        construed by the parties hereto, nor by any third party, as creating the
        relationship of principal and agent or of partnership or of joint
        venture between the parties hereto, it being understood and agreed that
        neither the method of computation of rent, nor any other provisions
        contained herein, nor any acts of the

                                       12
<PAGE>   13

        parties hereto, shall be deemed to create any relationship between the
        parties hereto other than the relationship of Lessor and Lessee.

24.     Time of essence. Time is declared to be of the essence of this entire
        lease, notwithstanding that as to some provisions it may expressly be
        provided that time is of the essence. However, whenever a period of time
        is herein prescribed for action to be taken by Lessor or Lessee, the
        parties shall not be liable or responsible for, and there shall be
        excluded from the computation of any such period of time, any delays,
        due to strikes, riots, acts of God, shortages of labor or materials, war
        governmental laws, regulations or restrictions of any other causes of
        any kind whatsoever which are beyond the reasonable control of the
        parties.

25.     Nonwaiver. No failure of Lessor to insist upon the strict performance of
        any provision of this lease shall be construed as depriving Lessor of
        the right to insist upon strict performance of such provision or any
        other provisions in the future. No waiver by Lessor of any provision of
        this lease shall be deemed to have been made unless expressed in writing
        and signed by Lessor. No acceptance of rent or of any other payment by
        Lessor from Lessee after any default by Lessee shall constitute a waiver
        of any such default or any other default. Consent by Lessor in one
        instance shall not dispense with the necessity of consent by Lessor in
        any other instance.

26.     Notices. All notices, requests, demands and other communications which
        are required or may be given under this lease shall be in writing and
        shall be deemed to have been duly given if delivered personally or sent
        by certified mail, return receipt requested, postage prepaid, addressed
        to the last known post office address of the party to be notified.

27.     Consent. Any consent which may be required for any action of Lessee
        shall not be unreasonably withheld. In determining the acceptability of
        a proposed assignee or subtenant, the continued liability of Lessee
        under the lease shall not be considered as a factor. In addition to
        other criteria which landlord may deem relevant, the assignee or
        subtenant must meet the minimal requirement of being compatible with
        other tenants sharing common areas, if any, and shall have good credit
        standing, the financial ability and business experience necessary to
        perform this lease, and Lessor may require that the owners of a
        closely-held business assignee personally guarantee the performance of
        this lease.

28.     Attorneys' fees and costs. Should any action be commenced to enforce any
        of the terms of this lease, or to cancel this lease, or to collect any
        rentals due hereunder, the prevailing party in such action shall be
        entitled to recover reasonable attorneys' fees and costs from the other
        party.

29.     Arbitration. If any dispute shall arise under this lease, the parties
        hereto agree to submit the matter to arbitration. Such arbitration shall
        be conducted, before three (3) arbitrators, unless the Lessor and the
        Lessee agree to one (1) arbitrator. Said arbitrators shall be designated
        by the American Arbitration Association and said arbitration shall be
        held in accordance with the rules of such Association. The arbitrators
        designated and acting under this lease shall make their award in strict
        conformity with such rules and shall have no power to depart from or
        change any of the

                                       13
<PAGE>   14

        provisions hereof. Expenses of the arbitration proceedings conducted
        hereunder shall be borne equally by the parties.

30.     Integration and modification. This lease constitutes the entire
        agreement between the parties pertaining to the subject matter contained
        herein, which alone fully and completely expresses their agreement, and
        the same is entered into after full investigation, neither party relying
        on any statement or representation, not embodied in this lease, made by
        the other. No change shall be effective unless in writing and signed by
        both parties.

31.     Construction and venue. The provisions of this lease shall be
        interpreted and enforced in accordance with the laws of the State of
        Washington, and venue shall lie in Spokane County. If a court of
        competent jurisdiction rules invalid or unenforceable any of the
        provisions of this lease, the remainder shall nevertheless be given full
        force and effect. The captions are for convenience and reference only,
        and they shall not define, limit or construe the contents of any
        provision. Except where the context indicates otherwise, words in the
        singular number shall include the plural, and vice versa, and words in
        the masculine, feminine or neuter gender shall include each other gender
        as well.

32.     Benefit and burden. This lease shall be binding upon and inure to the
        benefit of the parties, their heirs, legal representatives, successors
        and assigns.

                                       14
<PAGE>   15

IN WITNESS WHEREOF, the parties have executed this lease, effective on the day
and date first written above.

                               JUBILATION ENTERPRISES, LLC, a Washington limited
                               liability company, Lessor

DATE:    8/24/00               /s/
    ------------------         -------------------------------------------------
                               BILL B. WILLIAMS, JR., Member

DATE:    8/24/00               /s/
    ------------------         -------------------------------------------------
                               JUDITH A. WILLIAMS, Member

                               TELECT, INC., a Washington corporation, Lessee

DATE:    8/24/00               /s/
    ------------------         -------------------------------------------------
                               WAYNE E. WILLIAMS, President and Chief
                               Executive Officer

STATE OF WASHINGTON )
                    ) ss.
County of Spokane   )

        I certify that I know or have satisfactory evidence that BILL B.
WILLIAMS, JR. signed this instrument, on oath stated that he was authorized to
execute the instrument and acknowledged it as Member of JUBILATION ENTERPRISES,
LLC, to be the free and voluntary act of such limited liability company for the
uses and purposes mentioned in the instrument.

        Dated:
              ---------------------

                                       -----------------------------------------
                                       Print Name:
                                                  ------------------------------
                                       Notary Public in and for the State
                                       of Washington, residing at Spokane

                                       15
<PAGE>   16

                                       My commission expires:
                                                             -------------------

STATE OF WASHINGTON )
                    ) ss.
County of Spokane   )

        I certify that I know or have satisfactory evidence that JUDITH A.
WILLIAMS signed this instrument, on oath stated that she was authorized to
execute the instrument and acknowledged it as Member of JUBILATION ENTERPRISES,
LLC, to be the free and voluntary act of such limited liability company for the
uses and purposes mentioned in the instrument.

        Dated:
              ---------------------

                                       -----------------------------------------
                                       Print Name:
                                                  ------------------------------
                                       Notary Public in and for the
                                       State of Washington, residing
                                       at Spokane
                                       My commission expires:
                                               ---------------------------------

STATE OF WASHINGTON )
                    ) ss.
County of Spokane   )

        I certify that I know or have satisfactory evidence that WAYNE E.
WILLIAMS signed this instrument, on oath stated that he was authorized to
execute the instrument and acknowledged it as the President and Chief Executive
Officer of TELECT, INC., to be the free and voluntary act of such corporation
for the uses and purposes mentioned in the instrument.

        Dated:
              ---------------------

                                       -----------------------------------------
                                       Print Name:
                                                  ------------------------------
                                       Notary Public in and for the
                                       State of Washington, residing
                                       at Spokane
                                       My commission expires:
                                               ---------------------------------

                                       16
<PAGE>   17
                                                                      SCHEDULE I

                                TRIPLE NET LEASE

                                Legal Description

That portion of HOMESTEAD INDUSTRIAL PROPERTIES, a Binding Site Plan, as per
plat recorded in Volume 1 of Binding Site Plans, page 1, records of Spokane
County, described as follows:

BEGINNING at the Southwest corner of said Binding Site Plan;
Thence North 03(degrees)17'39" West 214.00 feet to the True Point of Beginning;
Thence North 87(degrees)03'56" East parallel with Mission Avenue a distance of
648.58 feet to the West R/W line of Molter Road;
Thence North 03(degrees)17'39" West along said R/W line a distance of 442.87
feet to the beginning of a curve concave to the East with a radius of 55.00 feet
with a radial bearing of South 43(degrees)21'51" West through said point;
Thence Northwesterly through a central angle of 86(degrees)41'01" an arc
distance of 83.21 feet;
Thence North 03(degrees)17'39" West a distance of 121.89 feet;
Thence South 87(degrees)03'56" West a distance of 50.00 feet;
Thence South 42(degrees)03'56" West a distance of 56.06 feet;
Thence South 87(degrees)03'56" West a distance of 558.68 feet to the West line
of said Binding Site Plan;
Thence South 03(degrees)17'39" East along said West line a distance of 600.61
feet to the True Point of Beginning;

Situate in the County of Spokane, State of Washington.

                                       17
<PAGE>   18

                                                                     SCHEDULE II

                                TRIPLE NET LEASE

                                    Site Plan

                                       18
<PAGE>   19

                                                                    SCHEDULE III

                                TRIPLE NET LEASE

                                    Elevation

                                       19
<PAGE>   20

================================================================================

                                TRIPLE NET LEASE

                                 August 24, 2000

Between

      JUBILATION ENTERPRISES, LLC, A WASHINGTON LIMITED LIABILITY COMPANY,

                                                                      as Lessor;

and

      TELECT, INC., A WASHINGTON CORPORATION,

                                                                      as Lessee.

================================================================================<PAGE>   1
                                                                   EXHIBIT 10.28

                      FIRST AMENDMENT TO TRIPLE NET LEASE

         THIS AMENDMENT TO LEASE is made this 26th day of September, 2000, by
and between JUBILATION ENTERPRISES, L.L.C., A WASHINGTON LIMITED LIABILITY
COMPANY (herein the "Lessor"), and TELECT, INC., A WASHINGTON CORPORATION
(herein the "Lessee"),

                                   WITNESSETH:

         WHEREAS, the parties hereto entered into a Triple Net Lease dated
August 24, 2000 (herein the "Lease"), for certain real property and improvements
located in Spokane County, State of Washington; and

         WHEREAS, the Lessor and the Lessee have agreed to amend certain
provisions of the Lease.

         NOW, THEREFORE, in consideration of the mutual benefits to be derived
by the parties hereto, the receipt and sufficiency of which is hereby
acknowledged, the Lessor and Lessee agree to amend Paragraph 3 of the Lease to
read as follows:

         "3.      Term. The term of this lease shall be for a period commencing
                  on the Commencement Date and ending September 30, 2012;
                  provided, however, that the term of this lease may be extended
                  as provided in Section 19 hereof. The phrase "Lease Term," as
                  used in this lease, shall be the term of this lease and any
                  extension thereof pursuant to said Section 19. Notwithstanding
                  the foregoing, at any time after September 30, 2005, and from
                  time to time thereafter, Lessee may, upon giving not less than
                  twelve (12) months' prior written notice to Lessor, reduce the
                  number of square feet of the Premises occupied by Lessee;
                  provided, however, that prior to any such reduction, or any
                  such reduction and subsequent subleasing or releasing of any
                  of the Premises to a lessee other than the Lessee, if the
                  Industrial Development Corporation of Spokane County,
                  Washington, Non-Recourse Revenue Bond (CDL Investments L.L.C.
                  Project) (the "Bond") is outstanding at the time, the Lessor
                  shall obtain the prior written consent of Washington Trust
                  Bank as the Registered Owner of the Bond; and if such consent
                  is given, the Lessor shall obtain an opinion of Perkins Coie
                  LLP, as bond counsel for the Bond, that such subleasing or
                  re-leasing of the Premises will not, in and of itself,
                  negatively impact the exclusion of the interest on the Bond
                  from gross income for federal income tax purposes pursuant to
                  Section 103(a) of the Internal Revenue Code of 1986, as
                  amended. The notice shall specify the amount of the square
                  foot reduction, and the location thereof within the Premises
                  and the effective date such reduction is to take place. Lessee
                  shall upon the effective date vacate that portion of the
                  Premises described in the notice in accordance with the terms
                  of this Lease and the Monthly Rent shall thereupon be
                  proportionately reduced. The parties shall forthwith execute
                  an amendment to the Lease describing such changes."

<PAGE>   2
                  All other terms and provisions of the Lease shall remain in
                  full force and effect.

                  DATED the year and date first above written.

                          LESSOR:       JUBILATION ENTERPRISES, L.L.C.,
                                        A WASHINGTON LIMITED LIABILITY COMPANY

                                        By
                                          --------------------------------------
                                          Bill B. Williams, Jr., Member

                                        By
                                          --------------------------------------
                                          Judith A. Williams, Member
                           LESSEE:        TELECT, INC., A WASHINGTON CORPORATION

                                        By
                                          --------------------------------------
                                          Wayne E. Williams
                                          President and Chief Executive Officer

STATE OF WASHINGTON                    )
                                       )  ss.
County of Spokane                      )

         I certify that I know or have satisfactory evidence that BILL B.
WILLIAMS, JR. AND JUDITH A. WILLIAMS are the persons who appeared before me, and
said persons acknowledged that they signed this instrument, on oath stated that
they were authorized to execute the instrument and acknowledged it as the
MEMBERS OF JUBILATION ENTERPRISES, L.L.C., A WASHINGTON LIMITED LIABILITY
COMPANY, to be the free and voluntary act of such party for the uses and
purposes mentioned in the instrument

                                       _________________________________________
                                       Print Name:______________________________
                                       Notary Public in and for the State of
                                       Washington, residing at _________________
                                       My commission expires: __________________

<PAGE>   3
STATE OF WASHINGTON                    )
                                       )  ss.
County of Spokane                      )

         I certify that I know or have satisfactory evidence that WAYNE E.
WILLIAMS is the persons who appeared before me, and said person acknowledged
that he signed this instrument, on oath stated that he was authorized to execute
the instrument and acknowledged it as the PRESIDENT AND CHIEF EXECUTIVE OFFICER
OF TELECT, INC., A WASHINGTON CORPORATION, to be the free and voluntary act of
such party for the uses and purposes mentioned in the instrument

                                       _________________________________________
                                       Print Name:______________________________
                                       Notary Public in and for the State of
                                       Washington, residing at _________________
                                       My commission expires: __________________

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