EXHIBIT 10.7
[GRAPHIC OMITTED]
XXXXXX XXXXXXX REALTY SERVICES, INC.
April 21, 2003
Energy (NJ) QRS 15-10, Inc.
c/o W.P. Xxxxx & Co. LLC
00 Xxxxxxxxxxx Xxxxx, 0xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Director, Asset Management
Re: Perryville I, Clinton, New Jersey
Dear Director:
Reference is made to that certain Lease Agreement (the "Lease") dated
August 16, 2002, between Energy (NJ) QRS 15-10, Inc., as Landlord, and Xxxxxx
Xxxxxxx Realty Services, Inc., as Tenant, for the above-referenced building (the
"Building").
Pursuant to Exhibit E of the Lease, we hereby deliver a copy of
Amendment No.2 to Credit Agreement, dated as of March 24, 2003 ("the
Amendment"), and, by so doing, modify the covenants and agreements set forth at
Exhibit E consistent with the Amendment. Upon our receipt of your
countersignature, we will promptly arrange to have the Landlord's Consideration
in the amount of $122,167.47 (calculated as shown on Exhibit A hereto) released
to you.
As of the date hereof, no Event of Default under the Lease has occurred
and is continuing.
Unless otherwise defined herein, each capitalized term herein shall be
deemed to have the meaning assigned to it in the Lease.
Please indicate your acknowledgement and acceptance of the foregoing by
countersigning and returning a copy of this letter to us. If you require
additional information, please contact the undersigned.
Very truly yours,
XXXXXX XXXXXXX REALTY SERVICES, INC.
By: /s/ Xxxxxx X. Xxxxxxxxx
-----------------------------------
Name: Xxxxxx X. Xxxxxxxxx
Title: President
We hereby acknowledge and accept the foregoing:
ENERGY (NJ) QRS 15-10, INC.
By: ________________________
Dated: April 29, 2003
Page 2
May 6, 2003
cc: Xxxx Xxxxx LLP
0000 Xxx Xxxxxxx Xxxxx
Xxxxxxxxxxxx, Xxxxxxxxxxxx 00000
Attention: Chairman, Real Estate Department
Wollf & Samson, P.A.
0 Xxxxxx Xxxx Xxxx
Xxxxxxxx, Xxx Xxxxxx 00000
Attention: Xxxxxxx X. Xxxxxxx, Esq.
Page 3
May 6, 2003
EXHIBIT A
Rent Base $44,900,000.00
Amendment Fee @ 27.20879 basis points =.002720879 %*$44,900,000.00
Amendment Fee $122,167.47
