EXHIBIT 10.11
SECOND AMENDMENT OF LEASE
THIS SECOND AMENDMENT TO LEASE, made this 29th day of March 2001 by
and between FORSGATE INDUSTRIAL COMPLEX with offices at 000 Xxxxxxxxx Xxxx,
Xxxxxxxxx, Xxx Xxxxxx (hereinafter called "Landlord") and, DELTA COMPUTEC INC.,
a New York corporation, which is a subsidiary of NQL Inc., a Delaware
corporation, and which has offices at 000 Xxxxxx Xxxxxx, Xxxxxxxxx Xxx Xxxxxx
(hereinafter called "Tenant").
WITNESSETH:
WHEREAS, Landlord and Tenant previously entered into a certain
agreement of Lease dated July 23, 1991, and amended August 11, 1997, whereby
Tenant leased the premises located at 000 Xxxxxx Xxxxxx, Xxxxxxxxx Xxx Xxxxxx
(hereinafter the "Lease") which expires July 31, 2001;
WHEREAS, the parties desire to amend and modify the Lease so that this
Second Amendment of Lease shall extend the Lease termination date to July 31,
2006;and
WHEREAS, Landlord has agreed to undertake certain repair or replacement
obligations as set forth in Exhibit "A" attached hereto.
NOW, THEREFORE, in consideration of the matters set forth herein, and
other good and valuable consideration received, the sufficiency and adequacy of
which is mutually acknowledged, the parties agree as follows:
Section 1.03 "Term of Lease" - shall be amended so that the Lease shall
terminate on July 31, 2006;
Section 3.01 "Net Basic Rent" - shall be amended to add that the annual
rent is as follows:
"From August 1, 2001 to and through July 31, 2006 the annual Net Basic
Rent shall be $336,657.00, payable in equal monthly installments of
$28,054.75 on the first of every month."; and
Attached hereto as Exhibit "A" is a list designating various repair and
replacement items hereinafter referred to as "Landlord's Work", that
the Landlord hereby agrees to undertake as part of this Second
Amendment of Lease.
The Lease and this Second Amendment of Lease shall be read together as one
document, and except where expressly modified by this Second Amendment of Lease,
all the provisions of the Lease shall remain in full force and effect.
INTENDING TO BE BOUND by the terms of this Second Amendment of Lease, the
parties cause their duly authorized officers or partners to execute this
document on their behalf.
WITNESS: LANDLORD:
FORSGATE INDUSTRIAL COMPLEX
By: /s/ XXXXXXX XXXXXXXX
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Xxxxxxx Xxxxxxxx, Managing Partner
ATTEST: TENANT
Delta Computec Inc.
By: /s/ XXXX XXXXXX
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Xxxx XxXxxx, President
