Exhibit 10.14
FIRST AMENDMENT TO OFFICE LEASE AGREEMENT
STATE OF TEXAS
COUNTY OF DALLAS
THIS FIRST AMENDMENT TO OFFICE LEASE AGREEMENT (this "First Amendment")
is made and entered into effective as of November 1, 1997, by and between
Xxxxxxx Xxxxxxxx Joint Venture ("Landlord") and telecom technologies, inc.
("Tenant").
R E C I T A L S
WHEREAS, Landlord and Tenant entered into that certain Office Lease
Agreement dated as of April 4, 1997 (the "Lease") concerning certain Premises
defined therein and commonly known as Suite 3000 at 0000 Xxxxx Xxxxxxx Xxxx.,
Xxxxxxxxxx, Xxxxxx Xxxxxx, Xxxxx, which Lease is incorporated herein by
reference; and
WHEREAS, Landlord and Tenant desire to amend the Lease to increase the
size of the First Portion of the Premises and to decrease the size of the
Second Portion of the Premises and to increase the Basic Rental.
NOW, THEREFORE, in consideration of the mutual agreements herein set
forth, the mutual agreements set forth in the Lease, and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Landlord and Tenant have agreed, and do hereby agree, as follows:
1. All terms capitalized herein and not specifically defined shall have
the same meaning herein as is ascribed to them in the Lease.
2. In Section 1. (c), "Premises", the rentable area in the leased
Premises is increased to 20,227 square feet of rentable area. The First Portion
of the Premises is increased in size to 14,277 square feet of rentable area
(highlighted in yellow on Exhibit A) and the Second Portion of the Premises is
decreased in size to 5,950 square feet of rentable area (highlighted in blue on
Exhibit A) described on Exhibit A attached hereto and incorporated herein for
all purposes. The total rentable area of the building is now stipulated for all
purposes herein to be 56,991 square feet of rentable area.
3. In Section 1.(d), "Lease Term", is changed to sixty (60) months,
commencing on November 1, 1997 (the "Commencement Date") and ending on
October 31, 2002.
4. In Section 1.(e), "Basic Rental", is increased to $2,026,933.47.
5. In Section 1.(f), "Monthly Rental Installment", is changed to:
Monthly from November 1, 1997 through March 31, 1998 - $23,497.56;
then
Monthly from April 1, 1998 through October 31, 1998 - $33,290.27;
then
Monthly from November 1, 1998 through October 31, 2002 - $34,925.29;
then
6. In Section 3, "Rent", Paragraph 2 is changed to read as follows:
14.818 months of basic rental, to be applied to the first fifteen
monthly basic rental installments accruing hereunder, totaling
$448,927.50 ("Prepaid Rent"), together with the security deposit (as
defined in
Paragraph 1(g) hereof), shall be payable by Tenant to Landlord in
two lump sum payments. $241,880.42 will be due contemporaneously with
the execution hereof. $224,463.75 will be due upon the later of June
1, 1997, or commencement of construction by Landlord of the work
described in the Work Letter Agreement. Landlord will deposit the
Prepaid Rent and Security Deposit in an escrow account with State
Bank & Trust to be held until occupancy of the First Portion of the
Premises by Tenant, at which time the Prepaid Rent and Security
Deposit will become the property of Landlord remaining in the escrow
account, which escrow account shall be debited monthly as basic
rental accrues. On the first day of the fifteenth month following the
date on which basic rent begins to accrue under this lease, Tenant
shall pay $6,368.07. On the first day of the sixteenth month
following the date on which basic rental begins to accrue under this
lease, Tenant shall begin paying the scheduled monthly rental
installment of $34,925.29 without demand and shall continue paying
such monthly rental installments on or before the first day of each
succeeding calendar month during the term hereof.
7. Exhibit C, "Work Letter Agreement", Section 7, "Payment of Costs;
Credit", line 7, the number $18.50 is increased to $23.75.
8. Except as herein provided to the contrary, Tenant's lease of the
premises from Landlord pursuant hereto shall be on the same terms and
conditions as those specified in the Lease.
9. The Lease (as amended by this First Amendment) remains in full force
and effect and is hereby ratified and affirmed.
IN WITNESS WHEREOF, this First Amendment is hereby executed effective as
of the day and year first set forth above.
LANDLORD:
XXXXXXX XXXXXXXX JOINT VENTURE,
a Texas general partnership
By: Jaytex Properties, Ltd.,
a Texas limited partnership
By: JRS Management, Inc.
/s/ W. T. Field
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W. T. Field, President
TENANT:
telecom technologies, inc.,
a Texas corporation
By: /s/ Xxxxxxxx Xxxxxx
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Xxxxxxxx Xxxxxx, President
[Floor Plan Third Floor]
