This excerpt taken from the NLST 8-K filed Apr 6, 2007.
ARTICLE I. BASIC LEASE PROVISIONS
Each reference in this Lease to the Basic Lease Provisions shall mean and refer to the following collective terms, the application of which shall be governed by the provisions in the remaining Articles of this Lease.
1. Premises: Suite No. 150 (the Premises are more particularly described in Section 2.1).
Address of Building: 51 Discovery, Irvine, CA
2. Project Description (if applicable): Discovery/Waterworks
3. Use of Premises: General office and warehouse, including but not limited to, the design, light manufacturing and assembly of memory subsystems.
4. Estimated Commencement Date: Sixteen (16) weeks from and after the date of this Lease.
5. Term: Forty-Eight (48) months, plus such additional days as may be required to cause this Lease to terminate on the final day of the calendar month.
6. Basic Rent: Commencing on the Commencement Date, the Basic Rent shall be Thirty Two Thousand Nine Hundred Seventy-Three Dollars ($32,973.00) per month, based on $1.15 per rentable square foot.
Basic Rent is subject to adjustment as follows:
Commencing twelve (12) months following the Commencement Date, the Basic Rent shall be Thirty Four Thousand Four Hundred Six Dollars ($34,406.00) per month, based on $1.20 per rentable square foot.
Commencing twenty-four (24) months following the Commencement Date, the Basic Rent shall be Thirty Five Thousand Eight Hundred Forty Dollars ($35,840.00) per month, based on $1.25 per rentable square foot.
Commencing thirty-six (36) months following the Commencement Date, the Basic Rent shall be Thirty Seven Thousand Two Hundred Seventy-Four Dollars ($37,274.00) per month, based on $1.30 per rentable square foot.
7. Guarantor(s): None
8. Floor Area: Approximately 28,672 rentable square feet
9. Security Deposit: $41,001.00
10. Broker(s): Landlords Broker: Irvine Realty Company
Tenants Broker: Real-Tech, Inc.
11. Additional Insureds: None
12. Address for Notices:
13. Address for Payments: All payments due under this Lease shall be made to the address shown on the invoice for the payment due, or if no address is shown, to Landlords notice address above.
14. Tenants Liability Insurance Requirement: $2,000,000.00
15. Vehicle Parking Spaces: Eighty Six (86)