UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 14, 2009
PROBE MANUFACTUIRNG, INC.
(Exact name of registrant as specified in its charter)
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Nevada |
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333-125678 |
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20-2675800 |
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(State or other jurisdiction |
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(Commission |
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(IRS Employer |
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of incorporation) |
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File Number) |
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Identification No.) |
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25242 Arctic Ocean Drive, Lake Forest, CA |
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92630 |
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(Address of principal executive offices) |
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(Zip Code) |
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Registrant’s telephone number, including area code (949) 206-6868
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On October 14, 2009, we entered into a five year and four month lease agreement, or Lease Agreement, for office and manufacturing space with Benhard Family Trust commencing on December 1, 2009 and ending on March 31, 2015. The base rent is $5,910.30 and common are expenses are $3,070.87, however, the base rent will increase to: (a) $7,880.40 for 2010; (b) $9,850.50 for 2011; (c) 10,835.55 for 2012; (d) $11,820.60 for 2013; and (e) $12,805.65 for 2014. The new facility is located at 17475 Gillette, Irvine, California 92630 and is approximately 19,701 square feet.
The summary of the material terms of the Lease Agreement are qualified in their entirety by the summary of lease terms attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
10.1 Summary of lease terms regarding Lease Agreement between Probe Manufacturing, Inc. and Benhard Family Trust dated October 14, 2009.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Probe Manufacturing, Inc. |
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(Registrant) |
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Date |
November 18, 2009 |
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/s/ Kambiz Mahdi |
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(Signature) |
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Print Name: Kambiz Mahdi |
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Title: Chief Executive Officer |
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Months
Monthly Rate / SF / Mo.
01 – 02:
$0.00 NNN
03 – 05:
$0.30 NNN
06 – 15:
$0.40 NNN
16 – 27:
$0.50 NNN
28 – 39:
$0.55 NNN
40 – 51:
$0.60 NNN
52 – 64:
$0.65 NNN
BASE RENT ABATEMENT:
Lessee shall be abated the Base Rent for months 1 and 2 of the
initial term. Lessee shall still be responsible for payment of their monthly share of operating expenses.
OPERATING EXPENSES:
Lessee shall be responsible for the payment of its pro-rata share
of operating expenses, currently estimated to be approximately $0.15 per square foot, per month (“Net Expenses”). This does not include utilities, and a breakdown of expenses will be forwarded under separate cover.
USE:
Tenant shall confirm that Tenant’s use complies with all city use
and zoning requirements.
LEASE FORM:
AIR Single - Tenant – Net.
ADVANCED RENT /
Rent for the first full month’s paid rent will be paid, along with a
SECURITY DEPOSIT:
deposit equal to the last month’s total rent and Net Charges.
(“Security Deposit”), upon return of a fully executed lease from Lessor to Lessee.
REFUNDABLE DEPOSIT:
Lessee shall provide to Lessor an additional deposit equal to
twenty thousand dollars ($20,000) that shall be refunded to Lessee after twelve (12) months of rent payments without defaults or late payments.
TENANT IMPROVEMENTS:
Lessor, at Lessor’s sole cost and expense, shall clean the
premises and deliver the building in “broom clean” condition.
CONDITION OF PREMISES:
Lessor shall confirm the Premises and systems are in good
working order, and shall warrant such systems Age and other details on the HVAC systems will be forwarded under separate cover.
Lessor shall also be responsible for the cost of any replacement of the roof, should such repair be necessary. The terms of this shall be spelled out in the lease addendum.
PARKING:
Lessee shall be provided approximately 50 parking spaces, in
common, free of charge, throughout the term of the lease.
SIGNAGE:
Lessee shall have the right, at Lessee’s sole cost and expense, to
install building identity signage. The size, location, materials and appearance shall be subject to Lessor’s approval and be consistent and compatible with the Sign Program, if any, for primary building signage and the City of Irvine Sign Guidelines. (“Sign Criteria”).
OTHER OFFERS:
Lessee and Lessor are free to negotiate with other parties, and on
other properties concurrently with these discussions.
HAZARDOUS MATERIALS:
Please sign, date and return the attached California Sale/Lease
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AMERICANS WITH DISABILITIES A CT/TITLE 24: |
Americans with Disabilities Act, Hazardous Materials and Tax Disclosure form upon agreement to business terms. If Lessee’s use requires modifications to the Premises in order to comply with requirements of a governmental entity, the cost of such modifications shall be the sole responsibility of Lessee. |
ACCESS:
The Premises will be accessible to Lessee 7 days a week, 24
hours a day throughout the term of the lease.
REPRESENTATION /
Grubb & Ellis represents Lessor only in the transaction and
AGENCY:
Commercial Property Services represents Lessee only in this
transaction.
COMMISSIONS:
Grubb & Ellis and Commercial Property Services shall equally
share a fee based on a separate written agreement between Lessor and Grubb & Ellis. 50% is due and payable upon mutual execution and delivery of the executed agreement and 50% is due and payable upon the start of Lessee’s monthly lease payments after Commencement of the lease.