To the lease dated May 6, 1997, between Paulson Investment Company, as Tenant and Trustees of The
Oregon-Washington Carpenters-Employers Pension Trust Fund and Trustees of The Oregon Laborers-
Employers Pension Trust Fund, as Landlord, subsequently assigned to Runhill Investment Company; for
approximately 17,136 square feet on the entire second and third floors of the Paulson Capital Building, 811 S.W.
Front Avenue, Portland, Oregon. It is now the intention of said parties to extend the term as stated below:
Commencing June 1, 2002 for a term of seven (7) years expiring on May 31,
Base Rental Rate:
June 2002 - May 2005 at $25,704 per month.
June 2005 - May 2007 at $27,846 per month.
June 2007 - May 2009 at $29,988 per month.
Landlord, at its sole cost, shall provide tenant improvement dollars up to a
maximum amount of $171,316.00. This amount shall be applied towards any and
all costs, except furniture or personal items, associated with Tenant's improvement
to the Premises. Any costs in excess of $171,316.00 shall be the sole
responsibility of the Tenant regardless of the reason for such excess. Tenant
Improvements can commence as soon as this Amendment 1 is fully executed and
Landlord will reimburse Tenant on or before April 1, 2002 of Tenant funded
Tenant Improvements. After April 1, 2002, Landlord to fund Tenant
Improvements up to the previously mentioned maximum amount of $171,316.00.
Landlord shall coordinate and manage Tenant's improvements to the Premises.
Any savings of the Tenant Improvement allowance of $171,316.00 will accrue to
the Landlord and the Tenant equally.
Landlord represents and warrants that the building's mechanical (HVAC) system
has the capacity to maintain ASHRAE Design Standards of operation between 70
and 76 degrees Fahrenheit dur