EX-10.3 2 a11-28276_4ex10d3.htm EX-10.3

Exhibit 10.3

 

Summary of Terms for Lease Agreement

 

·      Address:        11055 FlintKote Ave. San Diego, Cal

A free standing 19,914 Sq. Ft. Building

 

·      Premises:     5280 sq. ft. located at Suites B & C

First right of Refusal for Suite A (Approx. 3200 sq. ft.)

 

·      Term: 39 months with option for 2 additional years

 

·      Commencement: December 1, 2009

 

·      Base Rent: The base rent shall be charged upon the per square foot, per month, triple-net(NNN) amount as follows:

 

Months 1-3

$-0- (Base Rent Abated)

 

 

Months 4-15

$9,678 per month ($1.85/SF)

 

 

Months 15-27

$10,824 per month ($2.05/SF)

 

 

Months 28-39

$11,352 per month ($2.15/SF)

 

 

·      Monthly NNN:

$.45 ($2376 monthly)

 

 

·      Security Deposit:

$13,728 due at signing of lease

 

·      Furniture:     Free use of available furniture during term of lease

 

·      Lease Renewal after initial term capped at 4% increase.