FIFTH AMENDMENT TO LEASE DATED 4-1-98
This amendment of Lease, entered into as of the 12 th day of November, 2009, by and between Cambridge
Apartments, Inc., a Minnesota corporation, and Navarre Corporation, a Minnesota corporation.
WHEREAS: Cambridge Apartments, Inc. as lessor and Navarre Corporation as lessee have previously entered
into and are now operating under a lease of certain premises dated 4-1-98 as amended.
WHEREAS: Lessee has requested lessor to execute a COLLATERAL ACCESS AGREEMENT
(agreement) in favor of Wells Fargo Foothill, LLC (Exhibit 1 attached) which would replace a LANDLORD’S
WAIVER AND CONSENT previously furnished in accordance with the FIRST AMENDMENT TO LEASE
WHEREAS: Said agreement changes lessor’s rights, duties and security under the lease.
NOW, THEREFORE, in consideration of lessor furnishing said agreement the parties agree the lease is amended
to provide as follows:
IN WITNESS WHEREOF: the lessor and lessee have caused these presents to be executed in form and manner
sufficient to bind them at law, as of the day and year first written above.
A. The LANDLORD’S WAIVER AND CONSENT provided for in the FIRST AMENDMENT TO
LEASE DATED 9-27-01 is null and void.
B. The letter of credit from General Electric Capital Corporation provided for in the FIRST AMENDMENT
TO LEASE DATED 9-27-01 is no longer effective.
C. The security and damage deposit in the amount of $100,000.00 previously furnished contemporaneously
with the execution of the FIRST AMENDMENT TO LEASE DATED 9-27-01 will continue to be held
by lessor under the SECURITY AND DAMAGE DEPOSIT previously executed (Exhibit 2 attached).
All other terms and provisions of lease shall remain in full force and effect.
Lessee: Navarre Corporation, a Minnesota
Lessor: Cambridge Apartments, Inc.,
a Minnesota Corporation
By: /s/ J. Reid Porter
By: /s/ John R. Paulson