EXHIBIT 10.13(c)
MMS
Marine Management Systems, Inc.
Xxxx XxXxxxx, Xx.
President
Seaboard Properties Incorporated
Two Stamford Landing
Xxxxxxxxxx Xxxxxx
Xxxxxxxx, Xxxxxxxxxxx 00000
RE: Lease Agreement Between Marine Management Systems, Inc. ("Tenant") and
Seaboard Stamford Investors Associates LLC ("Landlord").
In reference to the above described Lease Agreement ("Agreement") dated
September 21, 1995. In addition to the terms and conditions described therein,
Landlord and Tenant agree as follows:
1. Tenant will substitute the two month security deposit with an
unconditional letter of credit in the amount of $150,000 designating
Landlord as beneficiary against default by the tenant under the said
lease. It is understood that the letter of credit will reduce by $7,500
per month starting May 31, 1996 and continue to reduce in amount until
liquidated in full by December 31, 1997. The letter of credit will be
provided by a financial institution reasonably satisfactory to Landlord
and in a form reasonably satisfactory to Landlord.
2. Landlord will credit Tenant's rent account in the amount of $3,000 which
will apply toward the first month's rent which first rent is anticipated
to be due and payable in April, 1996.
3. At the expiration of the above letter of credit, Tenant will provide
Landlord a new letter of credit in the amount of $25,000 to cover the
security deposit to the expiration of the lease.
All other terms and conditions of the Agreement remain in full force and
effect. Agreed to this _____ day of ____________ 1995.
MARINE MANAGEMENT SYSTEMS, INC. SEABOARD PROPERTIES INC.
By: /s/ Xxxxxx X. Xxxxx By: /s/ Xxxx X. XxXxxxx, Xx.
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000 Xxxxxxxx Xxxxxx - Xxxxxxxx, XX 00000 - (000) 000-0000
Telex: 996483 - Telefax: (000) 000-0000
