SECOND GLOBAL AMENDMENT TO MULTIPLE LEASES
Exhibit 10(b)
SECOND GLOBAL AMENDMENT TO MULTIPLE LEASES
THIS SECOND GLOBAL AMENDMENT TO MULTIPLE LEASES (this “Amendment”) is made as of the 31st day of July, 2009 (the “Effective Date”), by and between XXX RADIO AND TELEVISION, INC., an Ohio corporation (“Xxx”), XXXXX & XXXXX APPLIANCES, INC., an Ohio corporation (“Xxxxx & Xxxxx”), and STEREO TOWN, INC., a Georgia corporation (“Stereo Town”) (collectively, Xxx, Xxxxx & Xxxxx and Stereo Town, “Landlord”), all having an address at 0000 Xxxxxxxx Xxxx, Xxxxxx, Xxxx 00000, and APPLIANCE DIRECT, INC., a Florida corporation (“Appliance Direct”), and the “Tenants” as hereinafter defined, all having an address at 000 Xxxxx Xxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxx 00000, under the following circumstances:
A. By Leases all dated as of January 29, 2009 (the “Leases”), Landlord leased to affiliates of Appliance Direct (“Tenants”) certain real property as more particularly identified on Exhibit A attached hereto and made a part hereof.
B. By Global Amendment to Multiple Leases dated April 30, 2009, Landlord, Appliance Direct and Tenants amended the Leases.
C. Landlord, Appliance Direct and Tenants now desire to further amend the Leases as set forth below.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Landlord, Appliance Direct and Tenants amend the Leases as follows:
1. Article XXI, Purchase Option, of each of the Leases is hereby deleted in its entirety.
2. Article XXII (M), Option to Terminate, of each of the Leases is hereby deleted in its entirety.
3. Exhibit I to each of the Leases is hereby deleted and the Exhibit I attached to this Amendment is inserted in lieu thereof.
4. Schedule IV to each of the Leases is hereby deleted and the Schedule IV attached to this Amendment is inserted in lieu thereof.
5. By execution of this Amendment, the parties confirm that the term of each of the Leases is as set forth on Exhibit B attached hereto and made a part hereof.
6. Except as modified by this Amendment, each of the Leases remain in full force and effect.
7. The Leases, as modified by this Amendment, are ratified and confirmed.
EXECUTED as of the date first written above.
| LANDLORDS: | ||
| XXX RADIO AND TELEVISION, INC., | APPLIANCE DIRECT, INC., | |
| an Ohio corporation | a Florida corporation | |
| By: | By: | |
| Name: | Name: | |
| Title: | Title: | |
| XXXXX & XXXXX APPLIANCES, INC., | ||
| an Ohio corporation | TENANTS: | |
| By: | ||
| Name: | Sei Xxxx Xxx a/k/a Xxx Xxx, Chief Executive | |
| Title: | Officer of AD-Mobile, Inc., AD-Xxxxxx, Inc., | |
| AD-Gadsden, Inc., AD-Auburn, Inc., AD- | ||
| Xxxxxxxx, Inc., AD-Decatur, Inc., AD- | ||
| STEREO TOWN, INC., | Montgomery, Inc., AD-Brunswick, Inc., AD- | |
| a Georgia corporation | Gautier, Inc., AD-Greenville, Inc., AD- | |
| Meridian, Inc., AD-Columbus, Inc., AD- | ||
| Natchez, Inc., AD-Vicksburg, Inc. | ||
| By: | ||
| Name: | ||
| Title: | ||
EXHIBIT A
| Store | ||||||
| Number | Location | Landlord* | Tenant | |||
| 14 | 0000 Xxxxxxx Xxxxxxxxx | Xxx | AD-Mobile, Inc. | |||
| Mobile, Alabama | ||||||
| 23 | Daphne, Alabama | Xxx | AD-Xxxxxx, Inc. | |||
| 27 | Dothan, Alabama | Xxx | AD-Dothan, Inc. | |||
| 24 | Gadsden, Alabama | Xxx | AD-Gadsden, Inc. | |||
| 29 | Auburn, Alabama | Xxx | AD-Auburn, Inc. | |||
| 000 | Xxxxxxxx, Xxxxxxx | Xxx | AD-Xxxxxxxx, Inc. | |||
| 000 | Xxxxxxx, Xxxxxxx | Xxx | AD-Decatur, Inc. | |||
| 000 | Xxxxxxxxxx, Xxxxxxx | Xxx | AD-Montgomery, Inc. | |||
| 000 | Xxxxxxxxx, Xxxxxxx | XX | AD-Brunswick, Inc. | |||
| 17 | Gautier, Mississippi | Xxx | AD-Gautier, Inc. | |||
| 25 | Greenville, Mississippi | Xxx | AD-Greenville, Inc. | |||
| 000 | Xxxxxxxx, Xxxxxxxxxxx | Xxx | AD-Meridian, Inc. | |||
| 138 | Columbus, Mississippi | Xxx | AD-Columbus, Inc. | |||
| 000 | Xxxxxxx, Xxxxxxxxxxx | Xxx | AD-Natchez, Inc. | |||
| 000 | Xxxxxxxxx, Xxxxxxxxxxx | Xxx | AD-Vicksburg, Inc. | |||
| *Xxx - Xxx Radio and Television, Inc. | ||||||
|
XX - Xxxxx & Xxxxx Appliances,
Inc.
|
||||||
Exhibit I
Related
Leases
| Lease for | ||
| Store Number: | Location: | Landlord |
| 14 | 0000 Xxxxxxx Xxxxxxxxx | |
| Xxxxxx, Xxxxxxx | Seller One | |
| 23 | Daphne, Alabama | Seller One |
| 24 | Gadsden, Alabama | Seller One |
| 27 | Dothan, Alabama | Seller One |
| 29 | Auburn, Alabama | Seller One |
| 102 | Florence, Alabama | Seller One |
| 000 | Xxxxxxx, Xxxxxxx | Seller One |
| 181 | Montgomery, Alabama | Seller One |
| 000 | Xxxxxxxxx, Xxxxxxx | Seller Two |
| 17 | Gautier, Mississippi | Seller One |
| 25 | Greenville, Mississippi | Seller One |
| 000 | Xxxxxxxx, Xxxxxxxxxxx | Seller One |
| 138 | Columbus, Mississippi | Seller One |
| 296 | Natchez, Mississippi | Seller One |
| 127 | Vicksburg, Mississippi | Seller One |
Seller Key:
Seller
One: Xxx Radio and Television, Inc.
Seller Two: Xxxxx & Xxxxx Appliances,
Inc.
SCHEDULE IV
| Store | ||
| Number | Location | Date Rent is Due |
| 14 | 0000 Xxxxxxx Xxxxxxxxx | 0xx |
| Xxxxxx, Xxxxxxx | ||
| 23 | Daphne, Alabama | 1st |
| 27 | Dothan, Alabama | 1st |
| 24 | Gadsden, Alabama | 1st |
| 29 | Auburn, Alabama | 1st |
| 102 | Florence, Alabama | 1st |
| 103 | Decatur, Alabama | 1st |
| 181 | Montgomery, Alabama | 1st |
| 154 | Brunswick, Georgia | 1st |
| 17 | Gautier, Mississippi | 1st |
| 25 | Greenville, Mississippi | 1st |
| 137 | Meridian, Mississippi | 1st |
| 138 | Columbus, Mississippi | 1st |
| 296 | Natchez, Mississippi | 1st |
| 127 | Vicksburg, Mississippi | 1st |
EXHIBIT B
| Store | ||
| Number | Location | Lease Termination Date* |
| 14 | 0000 Xxxxxxx Xxxxxxxxx | August 31, 2015 |
| Mobile, Alabama | ||
| 23 | Daphne, Alabama | June 30, 2015 |
| 27 | Dothan, Alabama | August 31, 2015 |
| 24 | Gadsden, Alabama | June 30, 2015 |
| 29 | Auburn, Alabama | July 31, 2015 |
| 102 | Florence, Alabama | June 30, 2015 |
| 103 | Decatur, Alabama | June 30, 2015 |
| 181 | Montgomery, Alabama | August 31, 2015 |
| 154 | Brunswick, Georgia | June 30, 2015 |
| 17 | Gautier, Mississippi | July 31, 2015 |
| 25 | Greenville, Mississippi | August 31, 2015 |
| 000 | Xxxxxxxx, Xxxxxxxxxxx | August 31, 2015 |
| 138 | Columbus, Mississippi | August 31, 2015 |
| 296 | Natchez, Mississippi | August 31, 2015 |
| 127 | Vicksburg, Mississippi | August 31, 2015 |
*Subject to Tenants’ right to renew as set forth in the Leases.
