EXHIBIT 10.8
AMENDMENT TO LEASE
FOURTH AMENDMENT TO LEASE AGREEMENT
THE FOURTH AMENDMENT TO LEASE AGREEMENT (this "Amendment") is made and
entered into this 1st day of April 2004, by and between flake & Xxxxxx
Management, Inc. Agent for Owner ("Landlord") and D.A.C. Technologies,
("Tenant").
RECITALS:
A. Landlord and Tenant heretofore entered into that certain Lease Agreement
(the "Original Lease") dated January 14, 1999, covering certain premises
containing approximately 5,405 square feet, located at 0000 Xxxxxxxx
Xxxxx, Xxxxxx Xxxx, Xxxxxxxx, as more particularly described in the Lease,
at the rental and upon the terms and conditions set forth therein. The
Original Lease was modified by that certain first Amendment to Lease
Agreement dated February 12, 2001, made and entered into by and between
Landlord and Tenant extending the lease term through January 31, 2002- The
original lease was modified by that certain Second Amendment to Lease
Agreement dated February 18, 2002 made and entered into by and between
Landlord and Tenant extending the lease term through January 31, 2003. The
original lease was modified by that certain Third Amendment to Lease
Agreement dated March 25, 2003 made and entered into by and between
Landlord and Tenant extending the lease term through January 31, 2004- The
Original Lease, as modified by the Amendments, is herein after referred to
collectively as the "Lease".
B. Landlord and Tenant desire to extend and amend the lease in the manner set
forth below.
NOW. THEREFORE, for and in consideration of the premises, the mutual
covenants and agreements herein contained, and other good and valuable
consideration, the receipt and sufficiency o which are hereby acknowledged and
confessed by each of the parties hereto, Landlord and Tenant herby agree to
extend and amend the Lease as follows:
AGREEMENTS
1. Lease in Full Force. All of the terms, covenants, provisions and
agreements contained in the Lease, including without limitation, any
exhibits and addenda thereto, shall be and remain in full force and effect
except as the same are extended and amended by this Amendment.
2. Leased Premises. Effective May 1, 200)4 the leased premises shall be
modified from Xxxxx 0X xx Xxxxxx 0X xxx Xxxxx 0 consisting of
approximately 16,610 square feet as outlined on the attached Exhibit "A".
3. Lease Term. Commencing on the Commencement Date and continuing until April
30, 2005.
4. Monthly Rent. The monthly rental shall be amended, effective May 1, 2004,
to $5,536.67 per month.
5. Renewal Option. In addition, if no default shall have occurred and be
continuing hereunder, Owner grants Tenant an option to extend said lease
herein for two (2) additional terms of one (1) year. The option terms
shall be exercised by Tenant sending notice to Owner not less than ninety
(90) days prior to expiration of the lease term. The monthly rental during
the each option term shall be $6,436.38.
6. Remodel Expense. Tenant, at Tenant's expense will construct four or five
offices in the office area of the leased premises. Tenant, at Tenant's
expense will replace the carpet in the office area of the leased premises.
Tenant shall provide to Landlord a copy of the invoices from the
contractors for the work completed along with evidence of payment made to
the contractors.
7. Agency Disclosure. Flake and Xxxxxx Management, Inc is the Agent for the
ownership entity. Xxxx Xxxxx and Xxxx Xxxxxx are principals of Flake and
Xxxxxx Management, Inc. and the ownership entity.
IN WITNESS WHEREOF, Landlord and Tenant have executed this amendment on the
duties shown below their signatures.
LANDLORD: Flake and Xxxxx Management, Inc., Agent for Owner
By: /s/ Xxxxx Xxxxx, Xx.
Title: President
Date: 4/3/04
TENANT: DAC. Technologies
By: /s/ Xxx Xxxxxxx, CFO..
Title: CFO
Date 4/1/04
