EXHIBIT 10.0
AMENDMENT TO LEASE AGREEMENT
----------------------------
This AMENDMENT TO LEASE AGREEMENT (this "Amendment") is made the 1st
day of June, 2005, by and between RKW HOLDINGS, LTD., a Florida limited
partnership, whose address is 000 Xxxxxxx Xxxx Xxxxx, Xxxxxxx, Xxxxxxx 00000
("Landlord"),and TNR TECHNICAL, INC., a New York corporation, whose address is
000 Xxxxxxx Xxxx Xxxxx, Xxxxxxx, Xxxxxxx 00000 ("Tenant").
WITNESSETH:
WHEREAS, Landlord and Tenant have entered into that certain Lease
Agreement dated January 17, 1996 by which Tenant leases from Landlord a certain
parcel of land (the "Land") and all improvements thereon (the "Building")(the
Building and the Land are hereinafter referred to as the "Premises") located at
000 Xxxxxxx Xxxx Xxxxx, Xxxxxxx, Xxxxxxxx Xxxxxx, Xxxxxxx 00000.
WHEREAS, Landlord and Tenant now desire to amend and modify the Lease
Agreement in certain respects.
NOW, THEREFORE, in consideration of the mutual covenants contained
herein and in the Lease Agreement as amended and modified hereby, and other good
and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged by the parties, it is hereby mutually agreed as follows:
1. The term of the Lease Agreement, as defined in Paragraph 7 of the
Lease Agreement is extended for a period of five (5) years from the date of the
expiration of the Lease Agreement (May 31, 2006).
2. Tenant's base minimum rent ("Base Rent") shall increase by four
percent (4%) above the Base Rent payable during the last year of the current
Lease Agreement commencing on June 1, 2006 and by four percent (4%) on June 1 of
each year thereafter in accordance with the following schedule of Base Rent
payable during each year of the Amendment:
Sum of
Annual Base Rent Monthly Base Rent Base Rent and
Year (without sales tax) (without sales tax) Sales Tax Sales Tax
---- ------------------- ------------------- --------- -------------
6/1/06 - 5/31/07 $ 96,481 $8,040.07 $562.80 $ 8,602.87
6/1/07 - 5/31/08 $100,340 $8,361.67 $585.32 $ 8,946.99
6/1/08 - 5/31/09 $104,354 $8,696.14 $608.73 $ 9,304.87
6/1/09 - 5/31/10 $108,528 $9,043.98 $633.08 $ 9,677.06
6/1/10 - 5/31/11 $112,869 $9,405.74 $658.40 $10,064.14
3. Notices given to Landlord shall be addressed to Landlord at 000
Xxxxxxx Xxxx Xxxxx, Xxxxxxx, Xxxxxxx 00000 with a copy addressed to Landlord's
attorney, Xxxxx X. Xxxxxxxx, Esquire, Xxxxx X. Xxxxxxxx, P.A., 000 Xxxxx Xxxxxx,
Xxxxxxx, Xxxxxxx 00000.
4. Except as modified in Paragraphs 1 through 3 of this Amendment, all
other terms, covenants and conditions of the Lease Agreement shall remain in
full force and effect, including, but not limited to, Tenant's obligation to pay
taxes, to pay the costs and expenses of maintenance repairs, and alterations to
the Premises, to pay any all expenses referred to as additional rent in the
Lease Agreement, to pay any and all expenses whatsoever attributable to the
Premises, including without limitation, insurance, taxes, maintenance, lawn
care, garbage disposal, and utilities, and to pay all costs and expenses of
complying with applicable federal, state and local environmental laws, rules,
and regulations and laws governing the handling and disposal of waste.
Notwithstanding the Base Rent Schedule set forth above, Tenant shall be
obligated to pay any and all additional sales taxes levied by any governmental
entity above and beyond the sales taxes set forth in the above Base Rent
Schedule during the term of the Amendment. The partial enumeration of Tenant's
obligations under the Lease Agreement in this Paragraph 4 of the Amendment is
for illustrative purposes only and is not intended to in any way modify, revise,
abridge, or alter the terms of the Lease Agreement or the parties' obligations
set forth therein.
IN WITNESS WHEREOF, Tenant and Landlord have caused this Amendment to
be duly executed on the date first set forth above.
Witnesses: "LANDLORD"
/s/ Xxxxx Xxxxxxxxx RKW HOLDINGS, LTD., a Florida limited
------------------------------ partnership
Print Name: Xxxxx Xxxxxxxxx
/s/ Xxxx Xxxxxxx By: RKW of Central Florida Corporation, a
------------------------------ Florida corporation, its general partner
Print Name: Xxxx Xxxxxxx
By: /s/ Xxxxx Xxxx
-------------------------------------
Xxxxx Xxxx, President
"TENANT"
/s/ Xxxx X. Xxxxxxx TNR TECHNICAL, INC.,
------------------------------ a New York Corporation
Print Name: Xxxx Xxxxxxx
/s/ Xxxxxxx Xxxxxx By: /s/ Xxxxxxx Xxxxxx
------------------------------ -------------------------------------
Print Name: Xxxxxxx Xxxxxx Xxxxxxx Xxxxxx, Vice President
