Exhibit 10.20
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FIRST AMENDMENT
TO
LEASE AGREEMENT BETWEEN
PRINCIPAL MUTUAL LIFE INSURANCE COMPANY,
AS OWNER
AND
CANDIES, INC,
AS TENANT.
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Premises:
0000 Xxxxxxxxxxx Xxxxxx
Xxxxxxxx, Xxx Xxxx 00000
Prepared By:
The Law Offices of
XXXXXX & XXXX, LLP
000 Xxxxxxx Xxxxxx
Xxxxx 000
Xxxxxx Xxxx, Xxx Xxxx 00000
THIS FIRST AMENDMENT TO LEASE dated as of April 27, 1998, made by and
between PRINCIPAL MUTUAL LIFE INSURANCE COMPANY having an office at 000 Xxxx
Xxxxxx, Xxx Xxxxxx, Xxxx 00000-0000, as Owner, and CANDIES, INC, a New York
corporation, having an office at 0000 Xxxxxxxxxxx Xxxxxx, Xxxxxxxx, Xxx Xxxx
00000, as Tenant.
W I T N E S S E T H
WHEREAS, pursuant to that certain Agreement of Lease, dated as of July,
1994 (the "Lease"), Owner, leased to Tenant a portion of the Third (3rd) floor
in the building commonly known as and located at 0000 Xxxxxxxxxxx Xxxxxx,
Xxxxxxxx, Xxx Xxxx 00000 (the "Building") and which shall be deemed to consist
of Fourteen Thousand, Four Hundred and Thirty (14,430) rentable square feet and
which premises are more particularly described in the Lease (the "Original
Space");
WHEREAS, Tenant desires to lease from Owner that portion of space located
on the Third (3rd) floor of the Building which shall be deemed to consist of
Five Thousand, Two Hundred and Twenty-Three (5,223) rentable square feet, as
more particularly shown and cross-hatched on EXHIBIT "A-1" annexed hereto (the
"Additional Space"), such that the size of the premises that Tenant occupies in
the Building shall be deemed to consist of Nineteen Thousand, Six Hundred and
Fifty-Three (19,653) rentable square feet, for a term coterminous with the term
of the Lease (the Original Space and Additional Space are sometimes hereinafter
collectively referred to as the "Demised Premises");
WHEREAS, the Additional Space is presently occupied by an existing tenant
(the "Existing Tenant") who, pursuant to a written surrender agreement, has
agreed to vacate and surrender the Additional Space to Owner on or before April
19, 1998, in accordance with the provisions of said surrender agreement;
WHEREAS, Tenant desires to lease the Additional Space from Owner,
provided that Owner obtains vacant, legal possession of the Additional Space on
or before May 15, 1998;
WHEREAS, subject to the parties respective rights to terminate and cancel
this First Amendment to Lease, Owner and Tenant desire to modify the Lease, as
hereinafter provided;
NOW, THEREFORE, in consideration of the mutual agreements of the parties
hereinafter contained, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, it is hereby agreed as
follows:
ARTICLE 1 - DEFINITIONS
SECTION 1.01. For the purposes of this First Amendment To Lease, and all
agreements supplemental to this First Amendment To Lease, unless the context
otherwise requires:
A. "Additional Space Commencement Date" shall mean the date upon which the
Existing Tenant, or anyone through or under the Existing Tenant occupying the
Additional Space, vacates and legally surrenders the Additional Space to Owner
free of tenancies or other possessory rights except for those of Tenant,
provided, however, that the Additional Space Commencement Date shall be deemed
to occur until possession of the Additional Space and a fully executed copy of
this First Amendment to Lease has been delivered to Tenant. Notwithstanding the
foregoing, and subject to Owner's right to terminate this First Amendment to
Lease as hereinafter provided, in the event that: (i) the Additional Space
Commencement Date does not occur prior to May 15, 1998 solely because the
Existing Tenant or anyone through or under them has failed to vacate and legally
surrender the Additional Space to Owner, or (ii) in the event that a bankruptcy
petition is filed by or against the Existing Tenant, then in either such event,
and only such events, Tenant shall have the right within Five (5) days after
receiving notice from Landlord of the happening of either such event, time being
of the essence with respect to said five (5) day period, to serve notice on
Owner of its intention to terminate this First Amendment to Lease, the
Additional Space Term and estate hereby granted, and if within five (5) days
thereafter the Additional Space Commencement Date shall not occur, then in such
event this First Amendment to Lease, the Additional Space Term and estate hereby
granted shall terminate on the expiration of such five (5) day period as if such
termination date were the expiration date of the First Amendment to Lease, and
the Additional Space Fixed Rent (as hereinafter defined) paid on the execution
of this First Amendment to Lease shall be refunded by Escrow Agent to Tenant and
the Lease shall nevertheless remain in full force and effect as if this First
Amendment to Lease had never been made. Notwithstanding the foregoing, Owner
agrees that upon execution and delivery of this First Amendment to Lease by
Tenant together with the Additional Space Fixed Rent required to be paid
hereunder to Escrow Agent, Tenant shall have access to the Additional Space for
the purposes of taking measurements therein.
B. "Additional Space Rent Commencement Date" shall mean the date which is
thirty (30) days after the Additional Space Commencement Date.
C. Upon determination of the date which is the Additional Space
Commencement Date and/or Additional Space Rent Commencement Date as provided in
this Section, Tenant, upon the request of Owner shall execute and deliver to
Owner a statement setting forth the Additional Space Commencement Date and/or
Additional Space Rent Commencement Date, but the failure of Tenant to execute
and deliver such statement shall not detract from the effectiveness of any of
the provisions of the Lease, as amended by this First Amendment To Lease.
D. "Additional Space Term" shall mean the period commencing on the
Additional Space Commencement Date and ending at noon on March 31, 2000 (the
"Expiration Date"), subject however, to Tenant's right to extend the term of the
Lease as provided therein and which Owner and Tenant agree shall apply to the
Original Space and Additional Space, provided, however, that Tenant shall not be
entitled to extend the term of the Lease for the Additional Space unless Tenant
shall also extend to term of the Lease for the Original Space.
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ARTICLE 2 - THE ADDITIONAL SPACE
SECTION 2.01.A. Except as otherwise specifically provided for in Section
1.01.A. of this First Amendment to Lease, Owner hereby leases to Tenant and
Tenant hereby hires from Owner the Additional Space for the Additional Space
Term. Tenant has inspected the Additional Space and, subject to latent defects
and Owner's Repair Work (as hereinafter' defined), Tenant accepts the Additional
Space in their "AS IS" state and condition on the Additional Space Commencement
Date and without any representation or warranty (except as expressly set forth
herein), express or implied, in fact or by law, by Owner, and without recourse
to Owner, as to title thereto, the nature, condition or usability thereof or as
to the use or occupancy which may be made thereof.
B. Owner shall deliver the Additional Space to Tenant in vacant, broom
clean condition with all fixtures located in the Additional Space on the date
hereof in working order. In the event that the Existing Tenant shall have
removed and/or demolished any portion of the Additional Space and/or the
fixtures located therein as of the date hereof, other than the Existing Tenant's
moveable trade fixtures and equipment, then in such event, and subject to
Owner's right to cancel this First Amendment to Lease as hereinafter
specifically provided, Owner shall prior to the Additional Space Commencement
Date repair any such damage to the Additional Space and/or replace any and/or
all such fixtures ("Owner's Repair Work"). If Owner's Repair Work shall, in
Owner's reasonable opinion, exceed Twenty Thousand and 00/100 ($20,000.00)
Dollars ("Owner's Repair Allowance"), then and in such event Owner may, at its
option, terminate this First Amendment to Lease and the Additional Space Term
and estate hereby granted by giving Tenant five (5) days written notice,
provided however, that Tenant shall have the right within five (5) days after
receipt of Owner's notice of termination (time being of the essence with respect
to said date) to accept the Additional Space in its "AS-IS" condition and Owner
shall have no obligation to perform Owner's Repair Work, except that Owner
agrees that Tenant shall be entitled to a credit against Additional Space Fixed
Rent in an amount equal to Owner's Repair Allowance. In the event that such
notice of termination shall be given and Tenant has not exercised its right to
nullify same as hereinabove provided, this First Amendment to Lease, the
Additional Space Term and estate hereby granted shall terminate as of the date
provided in such notice of termination with the same effect as if that date were
the expiration date, and the Additional Space Fixed Rent paid upon execution of
this First Amendment to Lease shall be refunded by Escrow Agent to Tenant and
the Lease shall nevertheless remain in full force and effect as if this First
Amendment to Lease had never been made.
SECTION 2.02. Except as otherwise specifically provided for in Sections
101.A. and 2.01.B. of this First Amendment to Lease, Owner shall use reasonable
efforts to obtain possession of the Additional Space within a reasonable period
of time, but failure to obtain possession within a reasonable period of time
shall not effect the validity of the Lease. Owner has not made, and makes, no
representations as to the date when the Additional Space will be available for
occupancy, and notwithstanding any date specified in this First Amendment to
Lease, the same is merely an estimate. Except as otherwise specifically provided
for in Section 1.01.A of this First Amendment to Lease, Tenant hereby waives any
right to terminate, cancel or rescind the Lease or this First Amendment to Lease
by reason of Owner's failure to deliver
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possession of the Additional Space or otherwise perform its obligations
hereunder, which Tenant might otherwise have pursuant to any law now or
hereafter in force or otherwise. Tenant further waives the right to recover any
damages which may result from Owner's failure to deliver possession of the
Additional Space or otherwise to perform its obligations hereunder.
SECTION 2.03. Following the Additional Space Commencement Date, and except
for Owner's Repair Work, if any, Tenant shall equip the Additional Space with
all trade and operating fixtures, equipment, furniture, furnishings, and any and
all other items necessary as reasonably determined by Tenant for the proper
operation of Tenant's business ("Tenant's Alterations"). All trade and operating
fixtures, equipment, equipment, furniture, furnishings, and any and all other
items necessary for the proper operation of Tenant's business installed by
Tenant shall be new or completely reconditioned and shall not be subject to
liens, conditional sales contracts, security agreements or chattel mortgages.
ARTICLE 3 - LEASE AMENDMENTS
SECTION 3.01. Effective as of the date of the Additional Space Commencement
Date, the Lease is hereby modified as follows:
A. The term "Demised Premises" is hereby amended as follows:
"Demised Premises" shall mean that space on the Third (3rd) floor of
the Building delineated on the floor plan(s) attached to the Lease which
shall be deemed to consist of Fourteen Thousand Four Hundred and Thirty
(14,430) square feet of rentable space, together with the Additional Space
which shall be deemed to consist of Five Thousand, Two Hundred and
Twenty-Three (5,223) square feet of rentable space as delineated on the
floor plan(s) attached to this First Amendment of Lease as Exhibit "A-1",
which shall be deemed to consist of Nineteen Thousand, Six Hundred and
Fifty- Three (19,653) square feet of rentable space.
B. There shall be added to the end of Section 2.01 of the Lease as new
sentence as follows:
"The term 'Additional Space Base Impositions' shall mean the
Impositions levied or imposed against the Property for the period from July
1, 1998 through June 30, 1999 with respect to School tax and for the period
from January 1, 1998 through December 31, 1998 with respect to the Town,
County and State tax."
C. There shall be added to the end of Section 2.02.A. of the Lease as new
sentence as follows:
"Commencing with the Additional Space Commencement Date, Tenant agrees
to pay Owner, throughout the Additional Space Term of this Lease, as
additional rental, a sum equal to Four and Forty-Four Hundredths (4.44%)
percent ('Tenant's Additional Space Proportionate Share") of the amount by
which the Impositions levied against the
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Property in each fiscal tax year (or in the event this Lease shall
expire on other than December 31, the applicable portion thereof) exceeds
the Additional Space Base Impositions."
D. There shall be added to the end of paragraph B of Section 3.01 of the
Lease as new sentence as follows:
"The term 'Additional Space Base Operating Costs' shall mean the
Operating Costs in effect for the 1998 calendar year."
E. There shall be added to the end of Section 3.02.A of the Lease as new
paragraph 2 as follows:
"2. If the Operating Costs at any time during the Additional Space
Term of this lease shall increase such that Operating Costs, when
calculated on an annualized basis, shall exceed the Additional Space Base
Operating Costs or the highest annualized Operating Costs theretofore
charged to Tenant in accordance herewith, Tenant shall pay as additional
rent in each subsequent year of the Additional Space Term (or, in the event
this lease shall terminate on other than December 31, applicable portion
thereof) a sum equal to Tenant's Additional Space Proportionate Share of
the amount by which the Operating Costs for any such year exceeds the
Additional Space Base Operating Costs Tenant shall pay to Owner upon
rendition of the first such xxxx pursuant to this Section, the amount of
Tenants Additional Space Proportionate Share of the increase in adjusted
Operating Costs for the calendar year prior to the date of the rendition of
such xxxx. Thereafter, such payments shall be made in equal monthly
installments based on the increase in Operating Costs for the prior
calendar year, and when the Operating Costs shall be ascertained for the
then current calendar year, the installment then due shall be increased by
an amount sufficient to compensate Owner for any previous deficiencies in
installments and thereafter the installments shall be pro rata increases
based on the increase in Operating Costs for the current calendar year so
that one month prior to the end of such calendar year Tenant's Additional
Space Proportionate Share of the increase in Operating Costs levied against
the Property shall be paid in full. Owner shall give Tenant written notice
of each increase in the Operating Costs which will be effective to create
or change Tenant's obligation to pay additional rent pursuant to the
provisions of this Section promptly after Owner calculates such increase at
the end of such year, and such notice shall contain Owner's calculation of
the annual rate of additional rent payable resulting from such change in
the Operating Costs. If an increase in the Operating Costs is made with
retroactive effect, Tenant shall pay Owner the total amount of the
additional rent incurred consequent thereon with the next monthly
installment of fixed rent, such retroactive increase to be effective to the
date of the Operating Costs increase, if necessary."
F. There shall be added to Section 5.01.A.1 of the Lease new paragraph 2 as
follows:
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"Tenant shall pay to Owner, or to such other person as Owner may from
time to time designate, at the address specified in the Lease, during the
Additional Space Term, Additional Space fixed rent ("Additional Space Fixed
Rent"), over and above the other Fixed Rent and additional payments to be
made by Tenant as hereinafter provided, as follows:
(i) On the execution of this First Amendment to Lease the sum of
Ten Thousand and 00/100 ($10,000.00) Dollars which shall be held in
escrow as provided for in Article 4 of this First Amendment to Lease;
and
(ii) During and in respect of the period from the Additional
Space Rent Commencement Date to the Expiration Date (both dates
inclusive), an amount each year equal to One Hundred and Four
Thousand, Four Hundred and Sixty and 00/100 ($104,460.00) Dollars
(exclusive of electric) payable in equal monthly installments of Eight
Thousand, Seven Hundred and Five and 00/100 ($8,705.00) Dollars.
Additional Space Fixed Rent shall be paid in equal monthly
installments on the first day of each and every month during the Additional
Space Term without any setoff or deduction whatsoever, provided, however,
that if the Additional Space Fixed Rent shall be payable for any period
prior to the first day of the first full month during the Additional Space
Term, then such Additional Space Fixed Rent shall be paid in a
proportionate amount for the number of days in such period and paid as and
when the first equal monthly installment is payable as aforesaid.
Notwithstanding the foregoing, Tenant shall pay the first monthly
installment of Additional Space Fixed Rent upon execution of this First
Amendment to Lease which shall be held in escrow as provided for in Article
4 of this First Amendment to Lease."
G. There shall be added to the Lease a new section 12.02 as follows:
"SECTION 12.02. A. Tenant covenants that at all times its use of
electric current in the Additional Space shall never exceed the capacity of
existing feeders and risers to the building or Property or the risers or
wiring installation.
B.1 During the Additional Space Term hereof Owner shall furnish to
Tenant electric current for its use in the Additional Space.
2. Tenant agrees that it shall purchase or receive such electric
current directly from Owner and to pay directly to Owner all charges for
electric current rendered or supplied to the Additional Space throughout
the Additional Space Term. The Owner shall in no way be liable for any
loss, damage, or expense which Tenant may incur as a result of the change,
at any time, of the character or quality of electric current or any failure
of or defect in electric current by reason of any public or private utility
company then supplying such service to the Property, building or the
Additional Space and Tenant agrees to hold the Owner harmless and to
indemnify it from and against any loss, liability
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or damage in connection therewith. This indemnity shall survive the
expiration or other termination of this Lease.
3. Tenant's consumption of electric current shall be measured by means
of a separate electric sub-meter presently located in the Additional Space,
and Tenant shall pay, during the entire Additional Space Term, all costs
and expenses including the payments of any taxes and/or penalties in
connection therewith for all electric current used, consumed or provided to
the Additional Space, including electricity for any auxiliary air
conditioning system servicing the Additional Space. Owner shall maintain
and repair at its cost and expense the sub-meter during the term of this
Lease.
4. Tenant shall pay for all electric current consumed, used or
provided to the Additional Space as hereinabove provided within ten (10)
days after rendition of a xxxx for same by Owner (the "Additional Space
Electric Xxxx"). Owner shall xxxx Tenant at Owner's cost for all electric
current and Owner shall be entitled to an administrative fee of ten (10%)
percent of all electric current charged or otherwise billed pursuant to the
Additional Space Electric Xxxx. All electric current billed by Owner to
Tenant shall be deemed Additional Rent. Each Additional Space Electric Xxxx
shall be conclusive and binding upon Tenant unless within thirty (30) days
after receipt of such Additional Space Electric Xxxx Tenant shall notify
Owner that it disputes the reasonableness or correctness of the Additional
Space Electric Xxxx, specifying the respects in which the Additional Space
Electric Xxxx is claimed to be unreasonable or incorrect. Pending the
determination of such dispute by agreement or otherwise, Tenant shall pay
for electric current in accordance with the applicable Additional Space
Electric Xxxx, and such payment will be without prejudice to Tenant's
position. If the dispute shall be finally determined in Tenant's favor by a
court of competent jurisdiction Owner shall forthwith pay Tenant the amount
of Tenant's overpayment of electric current resulting from compliance with
the applicable electric current. If Owner does not pay the amount
determined by the court within sixty (60) days after such court's
determination, Tenant may offset Fixed Rent payable hereunder to the extent
of the amount so determined to be payable by Owner to Tenant. Owner, upon
request of Tenant, shall either make available to Tenant such documentation
as may be in Owner's possession to support a particular Additional Space
Electric Xxxx or permit Tenant to examine relevant portions of Owner's
books and records.
C. Tenant shall make no substantial alterations or additions to the
initial lighting, electrical appliances or office equipment without first
obtaining written consent from Owner in each instance. Owner warrants that
the electrical facilities servicing the Additional Space is in good working
order and can accommodate a normal office installation with associated
office machinery and equipment. Tenant agrees that all times its use of
electric current shall not exceed the capacity or overload any of the
central and appurtenant installations for electric current including, but
not limited to all wires, feeders, risers, electrical boxes, switches,
outlets, connections, and cables located in the Property, building, or
Additional Space or any other mechanical equipment spaces located therein.
Tenant's use of electric current shall not interfere with the use thereof
by other occupants of the Property, or building and shall be of such a
nature, as
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determined by Owner in its sole judgment and discretion, so as not cause
permanent damage or injury to the demised premises or the building of which
the Additional Space is a part, or cause or create a dangerous or hazardous
condition or entail excessive or unreasonable alterations, repairs or
expense, or interfere with or disturb other tenants or occupants."
H. Article 27 of the Lease entitled "Right of First Offer" is hereby
deleted in its entirety and no new section is added in its place it being agreed
and understood that Tenant no longer has a right of first offer.
ARTICLE 4 - ESCROW PROVISIONS
SECTION 4.01.A. The Additional Space Fixed Rent paid hereunder (the
"Escrowed Funds") shall be held in escrow by the Owner's attorney, Xxxxxx &
Xxxx, LLP ("Escrow Agent"), 000 Xxxxxxx Xxxxxx, Xxxxx 000, Xxxxxx Xxxx, Xxx Xxxx
00000, upon the following terms and conditions:
(i) The Escrowed Funds shall be held in a non interest-bearing XXXX
account at The Chase Manhattan Bank, 000 Xxx Xxxxxxx Xxxx, Xxxxx Xxxxx, Xxx
Xxxx 00000. Notwithstanding the foregoing, Escrow Agent shall not be liable
to either party for any loss to any institutional failure.
(ii) If the Additional Space Commencement Date shall occur, the Escrow
Agent shall deliver the Escrowed Funds to Owner.
(iii) If this First Amendment to Lease is terminated in accordance
with the terms hereof, the Escrow Agent shall pay the Escrowed Funds to
Tenant.
SECTION 4.02. It is agreed that the duties of the Escrow Agent are only as
herein specifically provided, and are purely ministerial in nature, and the
Escrow Agent shall incur no liability whatever except for willful misconduct or
gross negligence, as long as the Escrow Agent has acted in good faith Owner and
Tenant each hereby release the Escrow Agent from any act done or omitted to be
done by the Escrow Agent in good faith and the performance of its duties
hereunder.
SECTION 4.03. The Escrow Agent is acting as a stakeholder only with respect
to the Escrowed Funds. If there is any dispute as to whether the Escrow Agent is
obligated to deliver the Escrowed Funds or as to whom said Escrow Funds is to be
delivered, the Escrow Agent shall not be required to make any delivery, but in
such event the Escrow Agent may hold the same until the Escrow Agent receives an
authorization in writing, signed by all the parties having any interest in such
dispute, directing the disposition of the Escrowed Funds, or in the absence of
such authorization the Escrow Agent may hold the Escrow Funds until the final
determination of the rights of the parties in an appropriate proceeding. If such
written authorization is not given, the Escrow Agent may, but is not required
to, bring an appropriate action or proceeding for leave to deposit the Escrowed
Funds in court pending such
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determination. The Escrow Agent shall be reimbursed for all costs and expenses
of such action or proceeding including, without limitation, reasonable
attorneys' fees and disbursements, by the party determined not to be entitled to
the Escrowed Funds. Upon making delivery of the Escrowed Funds in the manner
provided in this First Amendment to lease, the Escrow Agent shall have no
further liability hereunder.
SECTION 4.04. The Escrow Agent has executed this First Amendment to Lease
solely to confirm that the Escrow Agent has received a check for the Escrowed
Funds (subject to collection) and will hold the Escrowed Funds in escrow,
pursuant to the provisions of this First Amendment to Lease.
ARTICLE 5 - MISCELLANEOUS
SECTION 5.01. Commencing on the Additional Space Commencement Date, Tenant
shall be entitled to two (2) reserved parking spaces in the parking lot which
services the Building in the same location as that occupied by the Existing
Tenant.
SECTION 5.02. Tenant shall have the right to make alterations to the
Additional Space and/or Original Space so as to make them a complete self
contained architectural unit, provided, however, that Tenant complies with all
of the terms, covenants and conditions of the Lease with respect to alterations.
ARTICLE 6 - BROKERS
SECTION 6.01. The parties hereto represent that in connection with this
First Amendment to Lease it dealt with no broker other than Insignia/Xxxxxx X
Xxxxxx, Inc. (the "Broker") nor has either party had any correspondence or other
communication in connection with this First Amendment to Lease with any other
person who is a broker, and that so far as the parties hereto are aware the
Brokers are the only brokers who negotiated this First Amendment to Lease. Each
party hereby indemnifies the other party and holds it harmless from any and all
loss, cost, liability, claim, damage, or expense (including court costs and
attorneys' fees) arising out of any inaccuracy of the above representation.
Owner agrees to pay the Broker all commissions due for its services pursuant to
a separate written agreement. If the broker under the Lease makes a claim for a
commission by reason of Tenant taking the Additional Space, then in such event,
Owner shall indemnify Tenant and hold it harmless in connection therewith.
Tenant represents and warrants that it has not had any correspondence or other
communication in connection with this First Amendment to Lease with the broker
under the Lease, except for Broker as successor-in-interest to Xxxxxxxxxx-Xxxxx.
ARTICLE 7 - NO OTHER CHANGES
SECTION 7.01. All other terms, covenants and conditions of the Lease, as
amended, and all exhibits and schedules thereto shall remain in full force and
effect, are hereby ratified, confirmed and incorporated herein by reference as
though set forth fully herein at length.
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IN WITNESS WHEREOF, Owner and Tenant have executed this FIRST AMENDMENT
TO LEASE as of the date and year first above written.
PRINCIPAL MUTUAL LIFE INSURANCE
COMPANY, (Owner)
By: /s/ Xxxxxx X. Popisil
-------------------------
Name: Xxxxxx X. Popisil
Title: Counsel
By: /s/ Xxxxxx X. Xxxxxxx
-------------------------
Name: Xxxxxx X. Xxxxxxx
Title: Counsel
CANDIES, INC., (Tenant)
By: /s/ Xxxxx Xxxxxx
-------------------------
Name: Xxxxx Xxxxxx
Title: SVP & CFO
Receipt of Escrowed Funds, subject to collection,
is hereby acknowledged
XXXXXX & XXXX, LLP, As Escrow Agent
By: /s/ Xxxxxx X. Xxxxxx
------------------------
Name: Xxxxxx X. Xxxxxx
Title: Partner
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XXXXXXXXXXXXXXXX
XXXXX XX XXXX )
)ss.:
COUNTY OF POLK )
On the 27th day of April, 1998, before me personally came Xxxxxx X.
Popisil, to me known, who being by me duly sworn, did depose and say that he
resides in Des Moines, Iowa; that he is the counsel of PRINCIPAL MUTUAL LIFE
INSURANCE COMPANY, an Iowa Corporation described in and which executed the
foregoing instrument; That he signed his name thereto on behalf of the
Corporation described therein by order of its board of directors.
/s/ Xxxxxxx Xxxxxxx
-------------------
Notary Public
STATE OF IOWA )
)ss.:
COUNTY OF POLK )
On the 27th day of April, 1998, before me personally came Xxxxxx X. Xxxxxxx
to me known, who being by me duly sworn, did depose and say that he resides in
Des Moines, Iowa; that he is the counsel of PRINCIPAL MUTUAL LIFE INSURANCE
COMPANY, an Iowa Corporation described in and which executed the foregoing
instrument; That he signed his name thereto on behalf of the Corporation
described therein by order of its board of directors.
/s/ Xxxxxxx Xxxxxxx
-------------------
Notary Public
STATE OF NEW YORK )
)ss.:
COUNTY OF WESTCHESTER )
On the 20th day of April, 1998, before me personally came Xxxxx Xxxxxx to
me known, who being by me duly sworn, did depose and say that he resides in New
York; that he is the SVP & CFO of CANDIES, INC., a New York corporation
described in and which executed the foregoing instrument; That he signed his
name thereto on behalf of the Corporation described therein by order of its
board of directors.
/s/ Xxxxx Xxxxxxx-Xxxx
----------------------
Notary Public
