LEASE MODIFICATION AGREEMENT
Exhibit
10.29
AGREEMENT
made this 1st
day of
November 1996, by and between XXXXXX X. DAY RELATY CORP., as agent for 000
Xxxxx
Xxxxxx Associates (“Owner”), having an office at 0 Xxxx 00xx Xxxxxx, Xxx Xxxx,
Xxx Xxxx 00000, and ASSET ALLIANCE CORPORATION (“Tenant”), 000 Xxxxx Xxxxxx, Xxx
Xxxx, Xxx Xxxx 00000;
W
I T N E S S E T H :
WHEREAS,
the parties are Owner and Tenant respectively under lease dated September
12,
1996 (the “Lease”) covering a portion of the 16th Floor as described in the
Lease; and
WHEREAS,
Tenant wishes to lease additional space in the basement;
NOW,
THEREFORE, the parties agree as follows:
1. Owner
hereby leases to Tenant and Tenant hereby leases from Owner the basement
space
shown on the attached floor plan (the “Basement Space”) for a term commencing on
execution of this Agreement and ending on the same day the term of the Lease
shall end, at an annual rental rate of $3,900 per annum.
2. Except
to
the extent otherwise provided in this Agreement, (a) from and after the date
of
this Agreement the Basement Space shall for all purposes of the Lease constitute
part of the demised premises under the Lease, and (b) Owner and Tenant agree
that all the terms, covenants and conditions of the Lease shall apply to
the
leasing of the Basement Space.
3. Tenant
has inspected the Basement Space and accepts the same “as is” and Owner is
required to do no work in the Basement Space.
4. Articles
39, 40, 41, 42, 43, 66, 67, 68, 70, 71, 72, 73, 74 and 75 of the Lease shall
not
apply to the leasing of the Basement Space. Article 2 of the Lease shall
not
apply to the Basement Space; Tenant shall use and occupy the Basement Space
for
storage and for no other purpose.
5. This
Agreement is offered to Tenant for signature by the managing agent of the
Building solely in its capacity as such agent and subject to Owner’s acceptance
and approval. Tenant shall affix its signature hereto with the understanding
that such act shall not, in any way, bind Owner or its agent until such time
as
this Agreement shall have been approved and executed by the managing agent
or
the Owner and delivered to Tenant.
6. Tenant
covenants, warrants and represents that there was no broker except Xxxxxx
X. Day
Realty Corp. instrumental in consummating this Agreement and that no
conversations or negotiations were had with any broker except Xxxxxx X. Day
Realty Corp. concerning the terms of this Agreement. Tenant agrees to hold
Owner
harmless against any claims for a brokerage commission arising out of any
conversations or negotiations had by Tenant with any broker except Xxxxxx
X. Day
Realty Corp.
7. Except
as
specifically modified herein, Owner and Tenant ratify, confirm, accept and
agree
to all of the terms, covenants and conditions of the Lease.
8. This
Agreement shall inure to the benefit of and bind the parties hereto, their
legal
representatives, successors and assigns. Tenant shall look only to Owner’s
estate and interest in the land and Building, for the satisfaction of Tenant’s
remedies for the collection of a judgment (or other judicial process) against
Owner in the event of any default by Owner under the Lease or this Agreement,
and no other property or assets of such Owner (or any partner, member, officer
or director thereof, disclosed or undisclosed), shall be subject to levy,
execution or other enforcement procedure for the satisfaction of Tenant’s
remedies under or with respect to the Lease or this Agreement, the relationship
of Owner and Tenant hereunder, or Tenant’s use and occupancy of the demised
premises.
2
IN
WITNESS WHEREOF, the parties have hereunto set their hands and seals the
day and
year first above written.
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XXXXXX
X. DAY REALTY CORP., as agent
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(Owner)
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By:
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/s/
Xxxxxxx Xxxxxxxx
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ASSET
ALLIANCE CORPORATION
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(Tenant)
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By:
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/s/
Xxxxxx X. Xxxxx
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3
Asset
Alliance Corporation
Xxxxxx
X.
Xxxxx
Executive
Vice President
October
30, 1996
Xx.
Xxxxxx Xxxxxxxxxx
Clarks
Xxxxxxx & Company, Ltd.
0000
Xxxxxxxxxxxxx Xxxx
Xxxxxxxxxx
Xxxxx, XX 00000
Dear
Xx.
Xxxxxxxxxx:
To
confirm our telephone conversation, this is to advise you not to issue an
umbrella liability policy for Asset Alliance Corporation. I have enclosed
the
original certificate of insurance which was issued on October 17,
1996.
Please
mail to us the amended certificate of insurance as soon as
possible.
Thank
you
for your assistance in this matter.
Kindest
regards,
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Xxxxxx
X. Xxxxx
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Encl.
