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MODIFICATION AND RATIFICATION OF LEASE
This Modification and Ratification of Lease is made and entered into,
effective the 4th day of April, 1995, between The Woodlands Corporation
("Lessor") and Champion Communications Services, Inc. ("Lessee"), for and in
consideration of One Dollar ($1.00), and other good and valuable consideration.
W I T N E S S E T H:
1. Lessor and Lessee hereby confirm and ratify (as modified below) all of
the terms, conditions and covenants in that certain Lease ("Lease") between the
parties dated November 10, 1994, under which Lessee has leased from Lessor
approximately 3,036 square feet of net rentable area in that building located
at 0000 Xxxxxxxxx Xxxxx, Xxxxx 000, Xxx Xxxxxxxxx, Xxxxxxxxxx Xxxxxx, Xxxxx.
2. Lessor and Lessee agree that effective May 1, 1995 ("Expansion Area
Effective Date"), the area of the Premises shall be increased by 1,593 square
feet of net rentable area ("Expansion Area"), which Expansion Area is outlined
on attached Exhibit "A", changing the size of the Premises to 4,629 square feet
of net rentable area.
3. Lessor and Lessee agree that, effective on the Expansion Area Effective
Date, the Base Rent, as set out in Section 5 of the Lease Agreement, shall be
increased by one thousand five hundred ninety three dollars ($1,593.00) per
month, so that the total Base Rent shall be four thousand one hundred twenty
three dollars ($4,123.00) per month through November 30, 1997 and increased by
one thousand seven hundred twenty six and 20/100 dollars ($1,726.20) effective
December 1, 1997, so that the Base Rent shall be four thousand four hundred
eight dollars ($4,408.00) per month.
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4. Lessor agrees to make alterations and improvements ("Improvements") to
the Expansion Area, upon the terms set forth in Exhibit "B" attached hereto.
Signed this the 4th day of April, 1995, at The Woodlands, Texas.
LESSOR:
THE WOODLANDS CORPORATION
By: /s/ XXXX X. XXXXXX
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Name: Xxxx X. Xxxxxx
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Title: V.P., Investment Properties
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LESSEE:
CHAMPION COMMUNICATIONS
SERVICES, INC.
By: /s/ XXXXX X. XXXXXX
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Name: Xxxxx X. Xxxxxx
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Title: President
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EXHIBIT "A"
[MAP OF THE WOODSTEAD BUILDING]
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EXHIBIT B
Champion Communications Services, Inc.
0000 Xxxxxxxxx Xxxxx, Xxxxx 000
Xxx Xxxxxxxxx, XX 00000
Re: Leasehold improvements for 1593 rentable square feet (1385 usable square
feet) of space in a building known as 0000 Xxxxxxxxx Xxxxx in The
Woodlands, Texas.
Gentlemen:
Lessor is pleased to quote for your approval the cost of work necessary to
construct the proposed leasehold improvements in the above referenced space.
The cost of work is based upon the attached drawings dated 3/12/95.
Total Cost of Work $15,159.00
Lessor Allowance ($11,151.00)
Total Amount Due from Lessee $ 4,008.00
If Lessor further agrees to perform, at your request, any additional or
non-standard work over and above that specified on the attached plans, such
work shall be performed by Lessor, at your sole expense, as a tenant extra.
Prior to commencing any such work requested by you, Lessor will submit to you
written estimates of the cost of any such work. Within one (1) week from the
date of submission thereof by Lessor, you shall either provide written approval
of the estimate for construction, submit to Lessor revisions in the plans and
specifications, or notify Lessor that the work is no longer requested. You
agree to pay Lessor promptly upon being billed therefore, the cost of all such
work, together with fifteen percent (15%) of the cost for Lessor's overhead.
You agree that in the event of default in payment thereof, Lessor shall (in
addition to all other remedies) have the same rights as in the event of default
of payment of rent under the Lease.
It is agreed that, notwithstanding the date provided in the Lease for the
Expansion Area Effective Date, your obligation for the payment of increased
rental thereunder shall not commence until Lessor has substantially completed
all work to be performed by Lessor pursuant to this agreement; provided,
however, that if Lessor shall be delayed in substantially completing the work
as required hereunder as a result of:
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Leasehold Improvements
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(a) Your failure to timely furnish the information and approval as and
when required;
(b) Your request for materials, finishes or installations other than
specified on plans attached;
(c) Your changes in approved plans or specifications; or
(d) The performance by a person, firm or corporation employed by you and
the completion of said work by said person, firm or corporation,
then the Expansion Area Effective Date and the payment of increased rent under
the Lease shall be accelerated by the number of days of such delay.
All monies due from you for leasehold improvements must be paid to Lessor
prior to your occupancy of the Expansion Area.
Upon your approval as indicated below, Lessor will begin construction of
your leasehold improvements and estimate construction completion within 4 weeks
of commencement of construction.
Sincerely,
/s/ XXXXX X. XXXXXX 3/29/95 By: /s/ X. X. Xxxx
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Tenant Acceptance Date Sales Director
[ILLEGIBLE]
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Director of
Tenant Improvements
