SEVENTH ADDENDUM TO LEASE
Exhibit 10.62
SEVENTH ADDENDUM TO LEASE
THIS SEVENTH ADDENDUM TO LEASE (the “Seventh Addendum”) is made and entered into as of
the 13th day of March, 2007, by and between AMB HTD — BEACON CENTRE, LLC. a Florida limited
liability company (the “Landlord”), and SED INTERNATIONAL, INC., a Georgia corporation (the
“Tenant”).
W
I T N E S S E
T H:
WHEREAS, Landlord (as successor-in-interest to New World Partners Joint Venture Number Two)
and Tenant (as successor-in-interest to Southern Electronics
Distributors, Inc.) are parties to
that certain Lease-Industrial Commercial, dated August 9, 1993, whereby Landlord’s predecessor
leased to Tenant’s predecessor, and Tenant’s predecessor leased from Landlord’s predecessor, the
Premises, as defined in the Lease, consisting of approximately 15,420 rentable square feet in
Xxxxxxxx 0 xx Xxxxxx Xxxxxx, Xxxxx, Xxxxxxx;
WHEREAS, the Lease-Industrial Commercial was amended by that certain Addendum to Lease, of
even date with the Lease-Industrial Commercial; and
WHEREAS, the Lease-Industrial Commercial was further amended by that certain Second Addendum
to Lease, dated January 10, 1996, whereby the Premises was relocated to that certain space in
Building 2 of Beacon Centre, consisting of approximately thirty-one thousand two hundred fifty-two
(31,252) rentable square feet, with an address of 0000 X.X. 00xx Xxxxxx, Xxxxx, Xxxxxxx 00000; and
(a) Tenant
acknowledges and agrees that, except as expressly set forth below. Tenant is
accepting the Premises in “as-is” condition on the date hereof and that Landlord shall have no obligation
whatsoever to furnish, render, or supply any money, work, labor, fixture, material, decoration, or
equipment in order to prepare the
Premises for Tenant’s occupancy for the Fourth Renewal Term, except as expressly set forth below.
Except as expressly set forth below, any and all alterations and improvements to the Premises
shall be at Tenant’s expense and are subject to the provisions of the Lease applicable to
alterations, including, without limitation, that the plans and specifications, and the contractors
and subcontractors to be used by Tenant, for any alterations are subject to the prior written
approval of Landlord.
(b) Notwithstanding the foregoing, as soon as reasonably practicable following the Fourth
Renewal Term Commencement Date, Landlord, at its expense, will perform the following improvements,
all using Landlord’s building-standard methods and materials (the “Improvements”): (i) remove the
warehouse office space located on the south side of the warehouse portion of the Premises, and
(ii) install two (2) new dock-high roll-up doors at the punch-out panels located behind the
warehouse office space as may be permitted by the City of Doral building department.
(c) Tenant acknowledges that the construction of the Improvements may affect Tenant’s use and
occupancy of the Premises during the period of construction, and that access to the Premises and
construction by Landlord and its contractors shall not constitute an actual or constructive
eviction of Tenant, in whole or in part, nor shall it entitle Tenant to any abatement or
diminution of rent or relieve Tenant from any obligation under the Lease (as modified hereby).
(d) In addition, Landlord shall be responsible to contribute up to Forty-Five Thousand and
No/100 ($45,000.00) Dollars for alterations and improvements to be made to the Premises by Tenant
(including any necessary demolition and including any architectural and engineering fees) (the
“Improvement Allowance”), all of which improvements shall be made by Tenant within one (1) year
after the Fourth Renewal Term Commencement Date. The plans and specifications, and the contractors
and subcontractors to be used by Tenant, for any such alterations and improvements are subject to
the prior written approval of Landlord, which approval shall not be unreasonably withheld. The
Improvement Allowance shall be paid by Landlord to Tenant within thirty (30) days after submission
of an invoice to Landlord and receipt by Landlord of a certificate of occupancy for such work (if
applicable), a contractor’s affidavit from Tenant’s general contractor, releases of lien from the
applicable subcontractors, suppliers, and laborers, and as-built drawings of such work, with a list
and description of all work performed by the contractors, subcontractors, and material suppliers
(provided that as-built drawings and a list and description of all work are required only in
connection with alterations and improvements affecting the structure of the Building and/or the
base-building HVAC, mechanical, electrical, plumbing, and/or fire safety systems). Tenant shall be
solely responsible for any and all costs and expenses with respect to any alterations or
improvements to the Premises which are above the Improvement Allowance. Tenant shall receive no
credit or payment for any unused portion of the Improvement Allowance.
However, even if all requirements set forth above have been met for payment of the
Improvement Allowance, the Improvement Allowance shall not be payable by Landlord if at such time
there exists on the part of Tenant a monetary default under the Lease beyond the expiration of
applicable notice and cure periods. If such a monetary default exists, then Landlord will not be
required to remit the Improvement Allowance to Tenant until such monetary default has been cured.
ANNUAL MINIMUM RENT | MONTHLY MINIMUM RENT | |||
LEASE YEAR | RATE PER SQUARE FOOT | (NOT INCL. SALES TAX) | ||
1 | $6.95 | $18,100.12 | ||
2 | $7.23 | $18,829.33 | ||
3 | $7.52 | $19,584.59 | ||
4 | $7.82 | $20,365.89 | ||
5 | $8.13 | $21,173.23 |
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Landlord’s address |
||
for notices:
|
AMB HTD — Beacon Centre, LLC | |
c/o AMB Property, L.P. | ||
Sixty State Street, Suite 1200 | ||
Xxxxxx, Xxxxxxxxxxxxx 00000 | ||
Attention: Xxxxxxxx X. Xxxxxxxxx, Vice President | ||
with a copy to:
|
Flagler Real Estate Services, Inc. | |
0000 X.X. 00xx Xxxxxx, Xxxxx 000 | ||
Xxxxx, Xxxxxxx 00000 | ||
Attention: Property Manager | ||
Landlord’s address |
||
for rent payments:
|
AMB HTD — Beacon Centre, LLC | |
X.X. Xxx 0000 | ||
Xxxxxxxxxx, Xxx Xxxx 00000-0000 |
[signatures on next page]
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WITNESSES: | LANDLORD: | |||||
AMB HTD—BEACON CENTRE, LLC, a Florida limited liability company | ||||||
By: | AMB Property, L.P., a Delaware
limited partnership, its sole member |
By: AMB Property Corporation, a Maryland corporation, general partner |
By: | /s/ Xxxxxxxx X. Xxxxxxxxx | |||||
Xxxxx
X. Battier
|
Xxxxxxxx X. Xxxxxxxxx | |||||
Xxxxxx
Reeje |
Vice Presidend |
TENANT: | ||||||
SED INTERNATIONAL, INC., a Georgia corporation | ||||||
Xxxxxx
Xxxxx
|
By: | /s/ Xxxx Xxxxxx | ||||
Xxxxxxx Xxx | Name: | Xxxx Xxxxxx | ||||
Title: | VP OPERATIONS |
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