9.0. EDSR 04-13-2000 - Laserfiche WebLink

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FINAL • First Amendment to: SolarAttic Memorandum of Understanding This First Amendment to SolarAttic Memorandum of Understanding (the "First Amendment"), is made and entered into this/ ay of7fla"'"t , by and between the City of Elk River Economic Development Authority (EDA), Larry Hickman (Hickman), Genesis Business Centers, LTD. (Genesis), and SolarAttic, Inc., a corporation organized and existing under the laws of the State of Minnesota (the "Company"). Whereas, the parties hereto entered into that certain SolarAttic Memorandum of Understanding dated March 31, 1997 (the "Agreement") regarding the company's participation as a member company in the Elk River Business Incubator ("ERBI") and as a recipient of certain services in connection therewith; Whereas, the Agreement included a sublease of certain premises (the • "Premises") within the ERBI wherein the Company was the tenant for a lease term expiring April 14, 1999; Whereas, the parties wish to enter into this First Amendment in order to extend the term of the occupancy of the Company at the ERBI for an additional one year; Now, therefore, in consideration of the foregoing and of the mutual promises and covenants contained in this First Amendment and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: I. Extension of Lease. The Company shall enter into the Lease Term Extension Agreement attached hereto as Exhibit A. II. Consideration. The parties hereby agree that the rent payable as provided in the Lease Term Extension Agreement attached hereto as Exhibit A is equal to approximately twenty percent (20%) of the rental value of the Premises. As further consideration for the services 411 provided to the Company hereunder, the Company, at the time of the execution of the Lease Term Extension Agreement attached hereto as