1
EXHIBIT 10.3
EXPANSION AGREEMENT
THIS EXPANSION AGREEMENT is entered into as of the 9th day of June, 1998,
by and between SCI North Carolina Limited Partnership (the "Landlord") and
Brightpoint North America, Inc. (the "Tenant").
WITNESSETH:
WHEREAS, Landlord and Tenant have entered into a Lease, dated as of the
20th day of March, 1998, pursuant to which Landlord leased to Tenant certain
premises located at 0000 Xxxxxxx Xxxxxx, Xxxxxxxxxxxx, XX (such lease, as
heretofore and hereafter modified, being herein referred to as the "Lease").
WHEREAS, Landlord and Tenant desire to enter into a Lease for 0000 Xxxxxxx
Xxxxxx, Xxxxxxxxxxxx, XX ("Expansion Space") on the terms and conditions set
forth below.
NOW THEREFORE, in consideration of Ten Dollars ($10.00) and other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the Landlord and Tenant agree as follows:
1. The Expansion Space is 26,400 rentable square feet, as shown in
Exhibit A.
2. The Monthly Base Rent shall be $8,250.00 for the Expansion Space.
3. The term of the Lease for the Expansion Space shall be fifteen
(15) months, such that the Lease Term for the Expansion space will
commence on July 1, 1998, and will terminate on September 30, 1999, with
Tenant having a right to renew for an additional three (3) months at $3.95
per square foot.
4. Landlord will provide one (1) opening in the block demising wall
between 0000 Xxxxxxx Xxxxxx and the Expansion Space, otherwise the
Expansion Space will be provided on an "as-is" basis.
5. Except as modified herein, the Lease, and all of the terms and
conditions thereof, shall remain in full force and effect.
6. Any obligation or liability whatsoever of Security Capital
Industrial Trust, a Maryland real estate investment Trust, which may arise
at any time under the Lease or this Agreement or any obligation or
liability which may be incurred by it pursuant to any other instrument,
transaction or undertaking contemplated hereby, shall not be personally
binding upon, nor shall resort for the enforcement thereof be had to the
property of, its trustees, directors, shareholders, officers, employees,
or agents regardless of whether such obligation or liability is in the
nature of contract, tort or otherwise.
IN WITNESS WHEREOF, the parties hereto have signed this Extension
Agreement as of the day and year first above written.
SCI North Carolina Limited Partnership
/s/ Xxxxxx X. Xxxxxxxx
----------------------------------------
By:
Xxxxxx X. Xxxxxxxx
----------------------------------------
Name:
Managing Director
----------------------------------------
Title:
LANDLORD
Brightpoint North America, Inc.
/s/ Xxxxxx X. Xxxxx
----------------------------------------
By:
Xxxxxx X. Xxxxx
----------------------------------------
Name:
Vice President
----------------------------------------
Title:
