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EXHIBIT 10.42a
June 26, 0000
Xxx XXXX
Xxxx, Xxxxxx & August, LLC
c/o Xxxxxx X. August
Monro Muffler / Brake, Inc.
000 Xxxxxxxx Xxxxxxx
Xxxxxxxxx, XX 00000
RE: Lease agreement dated 1985 (sic) between Xxxxxx X. August,
Trustee and Monro Muffler / Brake, Inc., ("Tenant") for
premises situate at 0000 Xxxx Xxxxxxxxx, Xxxxxxxx, Xxx Xxxx,
as assigned from Xxxxxx X. August as Trustee to the Lane
August August Trust, as further assigned from the Lane August
August Trust to Lane, August & August, LLC ("Landlord") [MMB #
48 - Xxxxxx, NY]
Dear Mr. August:
This is sent in response to your recent conversations with Xxxxxx Xxxxxxxxxxx.
As you know, the above referenced Lease will expire on 9/30/2000, and the
parties wish to extend the duration of the Lease pursuant with the terms
contained herein. Now, then, therefore, in consideration of $1.00 and other
valid consideration, the receipt and legal sufficiency of which is hereby
acknowledged, the parties agree as follows:
1. The term of the Lease shall be extended for a ten (10) year period
commencing 10/1/00 and expiring 9/30/10 ("Renewal Term"), followed by
two (2) 5-year renewal options. The first renewal option, if exercised,
shall commence 10/1/10 and expire 9/30/15 ("First Option"). The second
renewal option, if exercised, shall commence 10/1/15 and expire 9/30/20
("Second Option"). Any renewal option to extend shall be considered as
having been exercised unless Tenant gives Landlord notice at least 180
days prior to the expiration of the period then in effect of Tenant's
election not to exercise the next renewal option. In the event Tenant
provides notice of its intention not to renew, Landlord shall have the
right to display "for lease" signage during the last 60 days of the
period then in effect.
2. During the Renewal Term or any exercised option periods, Tenant shall
pay annual rent of 6 and 3/4 % of Tenant's annual gross sales sold in,
on, or upon or from the premises, but in no event less than a minimum
rental of:
Annual rent Monthly rent
----------- ------------
Renewal Term, Years 1-5 $54,000 $4,500.00
Renewal Term, Years 6-10 $59,400 $4,950.00
First Option $65,340 $5,445.00
Second Option $71,874 $5,989.50
3. Except as modified herein, the terms and conditions of the above
referenced Lease shall remain in full force and effect.
Kindly sign below where indicated on behalf of Landlord, and return to my
attention. I will then present same to Tenant for approval and counter
signature. If acceptable to Tenant, I will return one fully executed copy to you
for your files.
In the event you have any questions, please do not hesitate to contact me or Xxx
Xxxxxxxxxxx directly.
Sincerely,
Xxxx X. Xxxxxxxx, Esq.
GMP/bs
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