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EXHIBIT 10.26
TENANCY AGREEMENT FOR BUSINESS ACCOMMODATIONS
AND PROPERTIES
Between:
real estate company Xxxxxx xxx Xxxxxx GmbH & Co. KG,
represented by Xxxxxxxx Xxxxxxxx, management,
registered in 60313 Frankfurt/Main, XxxXx Eschenheimer StraBe 41a,
hereafter called "the lessor";
and
Fa. Xxxxxxxx Laboratories GmbH,
represented by the manager
registered in 64546 Xxxxxxxxx, XxxxxxxxxxxxXx 0-0,
hereafter called "the tenant".
ARTICLE 1: LEASED PROPERTY
1. The tenancy agreement relates to the plot of land located in 64546,
Xxxxxxxxx, XxxxxxxxxxxxXx 0x, for the exploitation of a warehouse for
finished products of the Fa. Griffith, in the following premises: 1
warehouse (central hall), 2 toilets, 2 offices in the warehouse, with no
corresponding housing accommodation.
2. No garage, no shed.
3. The lessor has delivered all existing keys to the tenant for the term of
the tenancy.
4. The following faults were noticed upon transfer of the leased property
(in case an inventory of fixtures as between lessor and tenant was drawn
up, that document applies): none.
ARTICLE 2: TENANCY TERM - NOTICE
1. The tenancy agreement comes into force on October 1st, 1995, respectively
on the date on which the building is finished. The tenancy agreement is
entered into for a period of 24 months and expires on September 30th, 1997.
The agreement expires 24 months after the agreement comes into force
following completion and transfer of the building.
2. Written notice must be given no later than the third working day of the
first month of the term of notice.
3. No claims for compensation can be made against the lessor in case the
premises are not free on time or are not available for occupation on time,
except if this is due to intent or gross negligence of the lessor.
4. The tenancy agreement is not tacitly renewed in accordance with article
568 of the Code of Civil law ("BGB").
ARTICLE 3: RENT
1a) The monthly rent amounts to 5,000.- DM (five thousand DM), excluding
legal V.A.T. in vigour at the moment, being 15%.
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b) The following working expenses (mentioned in appendix 3 to article 27 II
of the BVO in the current version) are not included in the above-mentioned
rent and shall therefore be paid separately:
Distribution formula based on
the number of persons, the
leased surface area, the
splits or the meters
1. Water as per own hours
2. Drains (water) as per own hours
3. Lighting, electricity (in own meters
as far as this does not belong
to heating)
4. Garbage collection in accordance with dispositions
5. Land tax in accordance with dispositions
6. Cleaning of the streets in accordance with dispositions
7. Chimney sweeping (in as far as per invoice
as this does not belong to
heating)
8. Public-liability insurance as per insurance policy
9. Janitor not applicable
10. Maintenance of the garden not applicable
11. Clearing of snow and tenant's responsibility
spreading salt in case of
glaze ice
12. Lifting of people and loads not applicable
13. Shared aerial and not applicable
connection to band widths
14. Cleaning of the building not applicable
15. Cleaning and maintenance tenant's responsibility
of heating equipment
16. Hot-water supply not applicable
17. Heating own heating equipment
18. Maintenance costs for fire tenant's responsibility
extinguishers, tanks and
safety equipment to prevent
leakages
19. Cleaning of pavements tenant's responsibility
c) The lessor has the right to apportion the management expenses
proportionately to the tenant.
d) During the tenancy term the lessor can change the distribution formula at
the beginning of a new calculation period in accordance with his best
judgement. The split or the new definition of a distribution formula shall
be made in accordance with the legal provisions, especially relating to
the regulations on heating expenses.
2. In case the lessor has to pay higher taxes due to the increase of the
working expenses or the creation of any new working expenses, the tenant
shall pay the corresponding increase as from the moment on which it comes
into being.
3. In case of the option relating to turnover tax, the lessor can charge
turnover tax on rents, working expenses and management expenses at the
legal rate which is in vigour at that particular moment.
ARTICLE 4: READJUSTMENT OF THE RENT
In case the monthly index for the cost-of-living for four person households of
employees and workers with an average income, as published by the
"Statistischen Bundesamt", goes up or down by more than five points in
comparison with the index figure that was in vigour at the
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moment the agreement was entered into or at the moment of a new agreement,
both parties have the right to request a readjustment of the rent. October 1st
1995 = 100 (index increases with 0,5% are taken into account) In case the
parties fail to agree on the amount of the rent, the Chamber of Commerce will
appoint an expert at the request of one or both parties. This expert will act
as a referee in accordance with article 317 of the Code of Civil law and will
decide, to the best of his judgement, if any readjustment of the rent will be
made and if so, for what amount. The new rent will then be binding for both
parties as from the first day of the month following the request for a
readjustment of the rent to the contracting party. The costs of such procedures
will be borne by both parties in accordance with the winning and losing
positions in the discussions prior to the appeal to the Chamber of Commerce.
ARTICLE 5 - PAYMENT OF THE RENT
1. The rent is to be paid to the lessor or to his proxy who is entitled to
accept the payment, at the Frankfurter Sparkasse, Ffm, account number
62091, BLZ 500 502 01, in advance, without any expenses whatsoever
and no later than on the third working day of each month. All attendant
expenses are to be paid together with the rent, except if it has been
agreed otherwise. Whether or not payments are made in due course relates
to the moment on which the money reaches the lessor, not to the moment on
which the tenant has made the payment. In case of increase or decrease of
the working expenses, the lessor has the right to adjust the advances
accordingly. The monthly advances amounts to:
a) for heating expenses: //// DM
b) for other working expenses: 1,000.- DM, excluding legal V.A.T.
2. In case of late payment of the rent by the tenant, the payments shall be
charged to the expenses, interests and any other debts if there is any
danger of prescription, except if the tenant takes any other measures.
ARTICLE 6 - COMPENSATION, RETENTION
1. Any compensations or retentions by the tenant versus any claims for rent
and attendant expenses are only permitted in case of uncontested claims
and claims which have been assessed finally and conclusively.
2. Any compensations or retentions due to any claims resulting from any
other debts are ruled out, except in case of uncontested claims and of
claims which have been assessed finally and conclusively. Any claims for
compensation in accordance with article 538 of the Code of Civil law are
ruled, except in case of intent and gross negligence of the lessor.
ARTICLE 7 - CENTRAL HEATING
1. The leased premises shall be adequately heated on working days during
the heating period (October 1st through April 30th) during the working
hours in as far as no other heating times are necessary for the
professional activities. Outside of the heating period, heating can only
be requested if the outside temperature drops under 12 degrees centigrade
at 21.00 hrs for three consecutive days.
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No (replacement) heating can be requested in case of failures, force
majeur, official regulations or any other impossibility to supply the
heating (such as fuel shortage), except if the impossibility is due to the
lessor's intent or gross negligence. The tenant's rights as per article
537 of the Code of Civil law are not affected. The tenant can not claim
any damages whatsoever, except in case of intent or gross negligence of
the lessor. The lessor shall make sure any failures whatsoever are
remedied as soon as possible.
2. The working expenses for the central heating equipment consist of
the expenses for the use and delivery of fuel, the expenses for the
necessary current, the expenses for the operation, surveillance and
maintenance of the equipment, the regular checks on the functioning and
the safety of the equipment and its tuning by a specialist, the cleaning
of the equipment, including the cleaning of the oil tank and the
professional premises, including the cleaning of the premises after the
delivery of fuel, the expenses for measurements in accordance with the
German law on emissions and the taxes for chimney sweeping, in as far as
they are not settled in any other way, and the expenses for rent, use,
etc. of equipment destined for the registration of the consumption, as
well as the expenses for dividing and calculating the costs. The expenses
for the supply of district heating include the expenses for the supply of
heating (standing charges, working expenses and settlements) and the
expenses for the exploitation of the relevant equipment in the premises as
mentioned above.
3. In case one of the tenants does not use the heating equipment, this does
not release him from his obligations to pay his share of the heating
expenses.
4. The expenses of any necessary intermediate meters are borne by the tenant
for whom this meter is destined.
5. In case the premises of the tenant have their own heating equipment, the
tenant shall use this equipment, maintain it and have it cleaned at least
once a year at his own expense. Moreover he shall fulfil the obligations
mentioned in article 7, paragraph 2.
ARTICLE 8 - HOT-WATER SUPPLY
The working expenses relating to the central equipment for hot-water supply
include the expenses for water supply, in as far as they are not settled
separately, and the expenses for the heating of the water in accordance with
article 7, paragraph 2. The expenses for the water supply include the expenses
for the usage of water, the standing charges and the rent of the meters, the
expenses for the use of intermediate meters, the expenses for the exploitation
of the own installation for water supply and the own installation for water
treatment, including the base materials for the water treatment.
The expenses for the district supply of hot water include the expenses for the
supply of hot water (standing charges, working expenses and settlement) and the
expenses for the exploitation of the corresponding installation at the premises
in accordance with article 7, paragraph 2.
ARTICLE 9 - USE OF ELEVATORS
1. No claims whatsoever can be made as to the use of the elevators in case
they are stopped due to power failure, essential repairs or official
regulations, except in case of intent or gross negligence from the part of
the lessor.
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ARTICLE 10 - USE OF THE LEASED PROPERTY, TRANSFER OF USE
1. The tenant can only use the leased property for other purposes and for any
other businesses than those stipulated in article 1 with the written
permission of the lessor. He can not cease the business either partly or
totally. No animals can be kept without the written permission of the
lessor.
2. Without written permission of the lessor the tenant is not entitled to
sublet or to transfer the use to third parties. For companies any change
of ownership or any changes relating to the legal form, concern a transfer
of use. A permission is only given for each particular case; it can be
withdrawn at all times.
3. In case of transfer of use, the tenant already at this moment transfers
to the lessor any claims he has against his subtenants and users and the
right of distraint for an amount equal to the rent due to the lessor.
4. The tenant shall not sell or offer for sale any products for which
another tenant already has the permission to sell them at the premises.
5. The lessor is not compelled to put the joint technical equipment of the
premises at the tenant's disposal or to keep it into action outside the
usual working and office hours.
6. The following faults were noticed upon transfer of the leased property
(in case an inventory of fixtures as between lessor and tenant was drawn
up, that document applies): (none mentioned).
ARTICLE 11 - SIGNS AND ADVERTISING BOARDS
1. The tenant is entitled to put up one company sign. The lessor indicates
the place where this sign shall be put up and decides how it shall be
implemented.
The lease and use of the exterior walls and the styling of the windows is
settled in a separate agreement.
2. Upon termination of the tenancy agreement, the tenant shall remove all
signs and advertising boards and shall have all damage resulting from
putting up, using and removing those signs and advertising boards
repaired. However, the tenant is allowed to leave or put up a small sign
referring to his new address for months (no less than 3 months) at a
place which is to be determined by the lessor.
ARTICLE 12 - OFFICIAL PERMITS, DANGERS RESULTING FROM THE USE OF EQUIPMENTS AND
INSTALLATIONS BY THE TENANT
1. The lessor is not responsible for the issue of permits for the intended
business and its installations, nor for maintaining such permits. This
especially applies to concessions. The tenant shall make sure at his own
expense that all requirements for his business are met and that this will
remain as such in future. This also applies to advertising boards, etc.
The tenant shall comply with the regulations of the labour inspection or
any other instances at his own expense.
2. However, article 12 paragraph 1 does not apply in case the nature and the
location of the leased property are not fit for the agreed purpose of the
agreement.
3. Before installing any machinery, heavy objects, other equipments or
installations in the leased property, the tenant shall ask the lessor
about the permitted load on the floors and he shall ask the written
permission of the lessor. The tenant is responsible for all damages
resulting from the non-observance of those stipulations. In case of any
negative effects on the building, vibrations, cracks, etc. resulting from
the equipments and installations, the lessor can withdraw the permission
he has granted before. The tenant is
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responsible for all installations and equipments he has installed and
uses. If the placement or the use of the tenant's installations and
equipments results in any unreasonable disadvantages or damages, the
tenant shall remove those installations and equipments or refrain from
using them if he can not solve those problems in any other way.
4. The tenant shall take an insurance against traffic accidents on the
leased premises, on the access roads to the land and on the public roads
in front of the land.
ARTICLE 13 - MAINTENANCE OF AND REPAIRS TO THE LEASED PROPERTY
1. The tenant shall insure sufficient cleaning, ventilation, and heating in
the leased property and he shall treat the equipments and installations in
said property cautiously and safeguard them against any vermin.
2. The tenant shall pay compensations for damages to the leased property and
to the building, to all installations belonging to the leased property or
the building, in as far as they were inflicted by him, his officers or his
subtenants. This also applies to damages inflicted by visitors, suppliers
and craftsmen in as far as they were acting on the tenant's behalf. The
tenant shall prove that he was not responsible for the damages.
3. The tenant is responsible for having all aesthetic repairs to the leased
property carried out within a reasonable period of time. Such aesthetic
repairs consist of: wallpapering, painting or whitewashing of walls and
ceilings, painting of floors and radiators, including heating pipes,
inside doors, windows and the inside of outside doors. Moreover, the
tenant shall replace the following objects, in as far as he has a direct
influence on them, except if he can prove that any damages were not
inflicted by him: especially locks of windows and doors, locks of
shutters, blinds, lighting equipment and gongs, thermometers, locks, water
taps, flushing equipment for toilets, washbasins and outlet pipes, supply
pipes and drains, fires, stoves, gas equipment and electrical equipment,
similar equipment and installations for the water supply, including the
equipment to maintain it or repair it, damaged glass and display windows.
Naturally treated wood shall not be treated with paint.
The tenant shall have all heating, ventilation and similar equipment, water
heaters, equipment for hot-water supply, fires and stoves cleaned at least
once a year by a specialist.
4. Upon expiry of the tenancy agreement, the tenant shall remove all plugs
and shall repair all the holes such that they are invisible. In case of
such adjustments, which were not explicitly approved of by the lessor, or
which the lessor should not have approved of in order to preserve his
rights, the tenant shall pay damages.
Furthermore the tenant shall have the following works carried out: (none
mentioned).
If the tenant does not comply with his obligations within the set term and
despite threats of challenge, the lessor can have the necessary works
carried out at the tenant's expense.
5. Upon expiry of the tenancy agreement, the lessor can also exert his
rights to enforcement and compensations as stipulated in paragraphs 1
through 4 in case a successive tenant has had those works carried out.
6. The tenant shall immediately inform the lessor of all damages in or to
the leased property. The tenant shall pay compensations for any consequent
damages resulting from the late reporting of the initial damage, in as far
as he has concealed the faults on purpose or has not noticed them due to
gross negligence.
7. The lessor is not responsible for any damages to the objects and
installations of the tenant, irrespective of the nature, source, duration
and range of the damages, except if
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they were due to the intent or the gross negligence of the lessor.
Otherwise the lessor's liability is basically limited to the amount of the
public liability insurance.
ARTICLE 14 - CHANGES TO THE LEASED PROPERTY MADE BY THE TENANT
1. Changes to the leased property, especially installations and renovations
and the like, can only be carried out with the written permission of the
lessor. At the lessor's request, the tenant shall remove such
installations and renovations, either partly or totally, when he moves out
of the premises and shall return the leased property to it's original
state, without any reservation whatsoever as to the lessor's permission.
2. If, at the end of the tenancy agreement, the tenant wants to remove any
equipment he has added to the leased property, he shall first give the
lessor the possibility to purchase this equipment. For this purpose, the
tenant shall inform the lessor of he price, of the production expenses and
of the moment on which the equipment was produced. If the lessor wants to
pay the said equipment, he shall pay to the tenant a suitable
compensation.
3. Any gas equipment and electrical equipment shall only be connected to the
existing mains in as far as they do not exceed the permitted load. Any
further equipment can only be connected subject to the written approval of
the lessor. Said approval can be denied if the mains can not cope with any
additional load and if the tenant refuses to pay the expenses for the
necessary changes to the mains.
ARTICLE 15 - STRUCTURAL CHANGES AND IMPROVEMENTS BY THE LESSOR
1. The lessor is entitled to have any improvements and structural changes
which are necessary for the maintenance or for a more economical use of
the property, for the expansion of the building or the leased property,
for averting impending dangers or for repairing damages, carried out
without the tenant's permission. This also applies to all works and
structural measures which, even though they are not absolutely necessary,
are useful, especially those relating to the modernisation of the
building. The tenant shall make sure the relevant premises are accessible
and shall not hinder nor slow down the execution of the works. If the
tenant does not comply with this obligation, the damages resulting
therefrom will be at his expense. The professional interests of the tenant
have to be taken into account.
2. In case any measures are taken to increase the utility value of the
leased premises, such as expansion of a main road, construction of sewers,
connection of the premises to public utilities, expansion or improvement
of piping systems, conversion from coal heating to gas or oil heating,
district heating or other heating and energy systems (including conversion
to electrical heating and electrical equipment), the lessor has the right
to increase the rent with an amount of 14% p.a. to compensate for the
expenses of the above-mentioned measures.
The new rent is due after the works are finished and at the beginning of
the month following the summons made by the lessor.
ARTICLE 16 - ACCESS TO THE LEASED PROPERTY
During the usual working hours the tenant shall give the lessor, agents,
experts and interested parties, subject to prior notice, the opportunity to
inspect the leased property in
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view of assessing its structural status, in view of a new lease, a sale, etc.
In case of any danger the leased property shall be accessible at any time
during day and night.
ARTICLE 17 - TERMINATION OF THE TENANCY AGREEMENT
1. Irrespective of the obligation to carry out any aesthetic repairs, the
tenant shall return the leased property in a clean state. In case the
tenant does not comply with this obligation or does not comply with it in
due time, the lessor can have the leased property cleaned at the tenant's
expense.
The tenant's obligation to keep the leased property clean extends to all
objects within the leased property, in as far as they do not belong to the
lessor. In case the tenant does not comply with this obligation, the lessor
is entitled to have those objects removed at the tenant's expense. The
lessor is under no obligation to store any objects.
2. In case of immediate termination of the tenancy agreement by the lessor,
the tenant is responsible until the end of the agreed tenancy term for the
loss of rent resulting from the lack of occupancy of the leased property
or resulting from the fact that the former rent can no longer be charged
in case of a new lease.
3. In case the parties have agreed that the tenant shall pay advances to
working expenses which are settled once a year, this arrangement remains
in force. For all working expenses for which the amount is only
established once a year, the amount is split between the old and the new
tenant, respectively lessor, proportionately to the term of the rent, in
as far as no special payments have been agreed.
4. At the expiry of the tenancy term, the tenant shall return all keys, even
those he has had made himself, to the lessor.
ARTICLE 18 - PARTIES CONSISTING OF MORE THAN ONE PERSON
1. The lessor and the tenant are always considered as being as the
contracting parties of this tenancy agreement, even if they consist of
more than one person. If the tenant consists of more than one person, they
are jointly and severally liable for all their obligations resulting from
this tenancy agreement.
2. If the tenant consists of more than one person, they hereby give each
other proxy for giving and receiving declarations having an effect on each
of the persons; this does not apply to notices and rent increases.
ARTICLE 19 - CHANGES TO THE AGREEMENT
Side agreements, changes, supplements and termination of the agreement shall be
agreed upon in writing. This also applies to all commitments, permissions,
waivers and agreements whatsoever.
ARTICLE 20 - PLACE OF IMPLEMENTATION
The place of implementation for all obligations resulting from this agreement
is Frankfurt/Main.
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ARTICLE 21 - DEPOSIT
1. For the compliance with the obligations he has under this agreement, the
tenant gives the lessor a deposit in money for an amount of --- DM (no
amount specified).
2. The deposit is payable upon the signing of the contract.
3. In case the land/the building/the leased part of the property are being
sold, the tenant agrees with the fact that the deposit paid by him will be
transferred to the new owner.
In case of sale, the lessor commits himself towards the tenant to force the
new owner to return the deposit in as far as it is not being used as
compensation.
ARTICLE 22 - VALIDITY OF THE TERMS AND CONDITIONS OF THE AGREEMENT
1. The nullity of one or more conditions of this agreement does not impede
on the validity of the other conditions.
2. This tenancy agreement replaces all previous agreements.
ARTICLE 23 - OTHER CLAUSES
The appendix to the tenancy agreement dated July 13th, 1995 is an essential
part of the agreement.
ARTICLE 24 - CODE OF ORDER
1. All halls and landings, corridors and stairways shall be thoroughly
cleaned at least once a week and shall be treated with a suitable
cleansing agent. Yards, sheds, parking lots and the like shall be swept
clean every week. The tenant is always responsible for the above
activities, as well as for clearing all snow and ice from the footpaths
and access roads to the building and for spreading salt in case of glaze
ice. Otherwise all local police regulations shall be observed. Snow and
ice shall be removed from all balconies. In case of any problems
whatsoever as to the cleaning of the premises or the removal of snow and
ice, the lessor is entitled to have those activities performed by a third
party. The expenses are apportioned following the appropriate criteria, at
the parties' best judgement.
Objects, machinery, installations and utilities can only be cleaned within
the leased property.
The tenant shall have all outlets of toilets and sinks of which he has the
exclusive use, cleaned at his own expense and shall have all obstructions
to such outlets removed immediately. The tenant is liable for his officers
and customers.
2. In case the land is polluted in any way, the tenant shall have this
pollution remedied immediately.
3. Placement and storage of any objects (boxes, goods, etc.) outside the
leased property is not allowed. Motorcycles, mopeds and similar vehicles
can only be stored in the premises destined for that use with permission
of the lessor and in accordance with the police regulations. Vehicles can
only be stored and parked in the yards upon written permission of the
lessor.
4. All windows shall be closed when it rains, snows or storms. Whenever any
damage to the roof or any entry of water is noticed, the lessor shall be
informed immediately.
5. The domestic waste shall be made smaller prior to being deposited in the
appropriate garbage cans. Due care shall be taken in order to ensure that
the stairways, the entry to
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the building and the place where the garbage cans are stored will not be
polluted. In case such pollution does occur nevertheless, the tenant shall
immediately arrange for the necessary cleaning. Ashes shall only be
deposited in the appropriate containers after they have cooled down.
Packaging material resulting from professional activities or similar waste
material shall never be deposited in the garbage cans destined for domestic
waste.
6. All entrances that are equipped with doors (cellar, attic, storage room,
etc.) shall always be kept closed. In case arrangements have been made
relating to the closing times for the front door, they need to be observed
at all times.
7. If changes and appendices to this code of order prove to be necessary in
order to maintain the peace and order in the leased property, the lessor
is allowed to take the necessary actions.
Morfelden, July 13th, 1995
The lessor The tenant
Xxxxxxx Xxxxx Xxxxxxxx Micro Science Gmbh
Tax consultant XxxxxxxxxxxXx 0
XxxxxxxxxxxxxxxXx 00X 00000 Xxxxxxxxx
00000 Xxx Xxxxxx Xxxx Xxxxxx
Proxy
Xxxxxxxx Xxxxxxxx
XxxXx XxxxxxxxxxxxxxxxXx 00X
00000 Xxxxxxxxx
00
Appendix to the professional tenancy agreement of July 13th
for the warehouse (central hall), Xxxxxxxxxxxxxx 0x, 64546 Morfelden
1. The lessor shall inform the tenant in writing about the completion of the
building activities for the hall four weeks before the completion. The
term stated in this written communication serves as the term of this
tenancy agreement.
2. The lessor will transfer the professional building in the following
state, at his expense:
a) loading platform (either fixed or moveable as desired) constructed at
the right side of the building to serve as a connection with the
existing hall of Fa. Xxxxxxxx.
b) all walls of the hall are painted (both inside and outside)
c) new smooth industrial floor-covering in the whole surface of the
hall, except for the toilets and the offices in the warehouse
d) both toilets equipped with objects and equipment, ready for use and
well-fastened
e) both offices in the warehouse ready for use
f) Upon the transfer of the hall the tenant will inspect whether all
damages have been repaired.
3. Upon the first expiry of the agreement after 24 months, the tenant has an
option to renew the agreement for consequent terms of one year; he shall
inform the lessor in writing no later than six months before the expiry of
the contract in case he wants to use this option.
4. The tenant commits himself to have the warehouse completely renovated by
professionals (to the state it was in at the moment it was transferred)
before returning it at the end of the contract.
5. The lessor commits himself to construct a new office in accordance with
the presented plan. Consequently the rent specified in article 3 of the
tenancy agreement is increased annually with an amount which is calculated
as follows:
Costs of construction x 8 = extra net rent p.a.
---------------------
100
excluding legal V.A.T. in vigour at that time.
All offers shall be accepted by the tenant first.
Morfelden, July 13th, 1995
The lessor The tenant
Xxxxxxxx Xxxxxxxx, Dirk Xxxxxx
XxxXx Xxxxxxxxxxxx XxxxXx 00x, Xxxxxxxx Micro Science GmbH
60313 Frankfurt/Main XxxxxxxxxxxXx 0
00000 Xxxxxxxxx
12
First supplement to the professional tenancy agreement of July 13th, 1995
for the warehouse XxxxxxxxxxxXx 0x, 00000 Xxxxxxxxx
1. In accordance with article 5 of the appendix to the above-mentioned
tenancy agreement the following net rent results from the attached
specifications of architect Xxxxx Xxxxx dated August 12th, 1996 relating
to the building of a new office.
131,916.79 x 8
--------------
100 = DM 10,553.34 p.a.
10,553.34 / 12 months = DM 879.44
+ 15% V.A.T. DM 131.92
----------------
Total rent DM 1,011.36
========== ================
2. This agreement comes into force as from April 1st, 1996.
A detailed list of the building activities outlined by architect Xxxxx
dated August 12th, 1996 is annexed hereto.
3. This agreement is an essential part of the tenancy agreement of July
13th, 1995.
Frankfurt/Main, September 16th, 1996
The lessor The tenant
Xxxxxx xxx Xxxxxx GmbH & Co KG Fa. Xxxxxxxx Laboratories GmbH
represented by the manager represented by the manager
X. XXXXXX
