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M.D.C. Holdings Inc.
04/23/2024 | Press release | Distributed by Public on 04/23/2024 11:41
Material Agreement - Form 8-K
ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
Effective April 18, 2024, M.D.C. Holdings, Inc. (the "Company") entered into a First Amendment to Sublease Agreement with CVentures, Inc., an affiliate of Larry A. Mizel, the Company's Executive Chairman. Mr. Mizel is a director and chairman of CVentures, Inc. The First Amendment provides CVentures, Inc. with an option to extend the term of the Sublease Agreement dated November 1, 2016, for an additional two-year period expiring on a date no later than October 21, 2028. Notwithstanding the foregoing, the sublease will automatically terminate upon the termination of the master lease if such termination occurs prior to the end of the additional extension term. Subtenant will pay base rent to the Company, in advance on the first day of each calendar month of the additional extension term, in an amount equal to its proportionate share of the base rent that the Company is required to pay under the master lease during such term.