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EXHIBIT 10.11.1
AMENDMENT TO LEASE
THIS AMENDMENT TO LEASE ("Amendment") is made as of THE OCT
5th, 1998, by and between XXXXXXXXXX FAMILY LIMITED PARTNERSHIP, a Michigan
limited partnership, of 000 Xxxxxxxxx Xxxxx, X.X., Xxxxx Xxxxxx, Xxxxxxxx 00000
("Lessor"), and ROCKFORD CORPORATION, an Arizona corporation, of 000 Xxxxx
Xxxxxxxx Xxxxx, Xxxxx, Xxxxxxx 00000 ("Lessee") based on the following facts:
A. Lessor's predecessor in title, Xxxxxxxxxx Industries, Inc., and
Lessee, entered into a certain Lease Agreement dated October 27, 1986, effective
as of September 1, 1986 and amended as of October 1, 1988 (collectively,
"Lease") for the demise of certain premises commonly known as 000 Xxxxxx Xxxxxx,
X.X., and 000 Xxxxxxx, X.X., Xxxxx Xxxxxx, Xxxxxxxx (collectively, "Grand Rapids
Plant").
B. By its terms, the Lease is scheduled to terminate as of midnight,
March 31, 1999, which is ten years after the "New Plant Completion Date," as
defined in the Lease. However, Lessor and Lessee desire to extend the Lease
term, and provide Lessee with additional options to renew the Lease.
C. To accomplish such purposes, Lessor and Lessee desire to amend the
Lease as provided in this Amendment.
NOW THEREFORE, Lessor and Lessee amend the Lease as follows:
1. TERM. The fifth introductory paragraph of the Lease is amended in
part to provide that the Lease shall be "for a period commencing September 1,
1986, and ending March 31, 2001."
2. RENT.
(a) Paragraph 2(j) of the Lease is amended in its entirety to
substitute the following paragraphs:
(j-1) From September 1, 1998, through March 31, 1999, at the
rate of $10,000 per month,
(j-2) From April 1, 1999, through March 31, 2001, at the rate
of $11,000 per month.
(b) Paragraph 2(o) is amended in its entirety to substitute the
following subparagraph:
(o) At the rate of $4.73 per square foot from April 1, 1997,
through March 31, 2001.
3. RENEWAL OPTIONS. The following additional subparagraph is added to
Paragraph 16 of the Lease:
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(j) Options to Renew. So long as Lessee is not then in default
under this Lease, Lessee shall have three (3) options to renew this
Lease for additional terms of one (1) year each, upon giving Lessor at
least one hundred eighty (180) days written notice of the exercise of
such option prior to the then scheduled termination date of the Lease.
Each such renewal shall be on the same terms and conditions as set
forth in this Lease, with the exception that the Rent payable under
this Lease shall be increased at the commencement of each such renewal
term by three percent (3%) over the Rent payable for the period
immediately prior to such renewal.
4. RATIFICATION. Except as expressly amended by this Amendment, the
Lease shall continue in full force and effect, as written.
Lessor and Lessee have signed and delivered this Amendment to Lease as
of the date set forth above.
WITNESSES: XXXXXXXXXX FAMILY LIMITED
PARTNERSHIP
/s/_________________________ By /s/
(Xxxxxx X. Xxxxxxx ) _____________________________________
Xxxxx X. Xxxxxxxxxx
Its General Partner
/s/_________________________
(Xxxxxx X. Xxxx ) Lessor
ROCKFORD CORPORATION
/s/_________________________ By /s/ Xxxxx Xxxxxxxx
(Shade Shutters ) ______________________________________
Its Vice President Information
Technologies
/s/_________________________ Lessee
(Xxxx Xxxxxxx )
[Notary Stamp - Victoria Xxxx Xxxxxx]
/s/
9/29/98
