EXHIBIT 10.12
FIRST AMENDMENT TO LEASE
This First Amendment to Lease is entered into as of this 7th day of
April 2004 by and among Xxxxxxx X. Xxxxxx, Xxxx X. Xxxxxx and Xxxx X. Xxxxxx,
personal representatives of the Estate of Xxxxxxx X. Xxxxxx (collectively,
"Landlord") and Dotronix, Inc., a Minnesota corporation ("Tenant").
RECITALS
A. Xxxxxxx X. Xxxxxx and Tenant originally entered into that certain
Lease dated as of April 26, 1999 (the "Lease") covering certain real property
located in New Brighton, Minnesota as legally described on Exhibit A to the
Lease.
B. Landlord and Tenant desire to amend the terms of the Lease as set
forth herein.
C. All defined terms not otherwise defined herein shall be defined as
set forth in the Lease.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:
1. OPTION TO TERMINATE. Tenant shall have the option to terminate
the Lease upon delivery of written notice to Landlord (the
"Termination Notice"). The effective date of termination shall
be the last day of the month following the expiration of the
twelve (12) month period after Tenant's delivery of the
Termination Notice to Landlord (the "Termination Date"). In
the event Tenant exercises the option to terminate, then (i)
Base Rent and Additional Rent shall be paid and apportioned
through the Termination Date; and (ii) neither Landlord nor
Tenant shall have any rights, liabilities or obligations under
this Lease, except such rights, liabilities or obligations
that, by the provisions of this Lease, expressly survive
expiration or termination of this Lease.
2. BALANCE OF TERMS. Except as set forth herein, the Lease
remains unmodified and in full force and effect.
[Remainder of page intentionally left blank.]
66
IN WITNESS WHEREOF, the parties have executed this First Amendment to
Lease as of the day and year first above written.
LANDLORD: XXXXXXX X. XXXXXX ESTATE
By /s/ Xxxxxxx X. Xxxxxx
Xxxxxxx X.Xxxxxx,
Personal Representative
By /s/ Xxxx X. Xxxxxx
Xxxx X. Xxxxxx, Personal Representative
By /s/ Xxxx X. Xxxxxx
Xxxx X. Xxxxxx,
Personal Representative
TENANT: DOTRONIX, INC.
By /s/ Xxxxxx X. Xxxxx
Its Chief Financial Officer
67