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EXHIBIT 10.11
FIRST AMENDMENT TO LEASE AGREEMENT
THIS FIRST AMENDMENT TO LEASE AGREEMENT, entered into this 7th day of
September, 1999 by and between LANDO TRADEPORT LIMITED PARTNERSHIP (Landlord)
and WORLD COMMERCE ONLINE, INC. (Tenant).
W I T N E S S E T H
WHEREAS, on February 15, 1999, Landlord and Tenant entered into a
certain Lease, with respect to premises situated in the County of Orange, City
of Orlando, State of Florida, as is more particularly described in said Lease
and,
WHEREAS, Landlord and Tenant are desirous of modifying the same in
certain respects.
NOW, THEREFORE, in consideration of the foregoing, the parties hereto
agree as follows:
1. Tenant presently occupies 21,852 rentable square feet, Bay "P
front - V", South Building (referred to as Existing Premises),
as delineated in green on the site plan attached marked Exhibit
"A". Tenant desires to lease an additional 3,240 rentable square
feet of Bay "P (rear)", South Building (referred to as New
Premises) as delineated in pink on the site plan attached marked
Exhibit "A". The Old Premises and New Premises shall hereinafter
be known as the Leased Premises for all purposes of the Lease
and the revised -square footage shall be 25,092 rentable square
feet.
2. The lease term shall remain the same and the new rental amount
shall be effective commencing October 1, 1999 and terminating on
March 31, 2003.
3 The revised rental payments for the Leased Premises shall be as
follows:
a. Commencing with October 1, 1999 and continuing through
March 31, 2000, Tenant shall pay for 25,092 rentable square
feet, the sum of ONE HUNDRED TWELVE THOUSAND NINE HUNDRED
FOURTEEN AND 00/100 DOLLARS ($112,914.00), plus Florida
sales tax, payable in equal consecutive monthly
installments of EIGHTEEN THOUSAND EIGHT HUNDRED NINETEEN
AND 00/100 DOLLARS ($18,819.00) each, Plus Florida sales
tax. Tenant's new monthly escrow amount shall be THREE
THOUSAND EIGHT HUNDRED SEVENTY-TWO AND 50/100 DOLLARS
($3,872.50), plus Florida sales tax.
b. Commencing with April 1, 2000 and continuing through March
31, 2001, Tenant shall pay for 25,092 rentable square feet,
the sum of TWO HUNDRED FIFTY THOUSAND NINE HUNDRED TWENTY
AND 00/100 DOLLARS ($250,920.00), plus Florida sales tax,
payable in equal consecutive monthly installments of TWENTY
THOUSAND NINE HUNDRED TEN AND 00/100 DOLLARS ($20,910.00)
each, plus Florida sales tax. Tenant's monthly escrow
amount to be determined after 1999 year end.
c. Commencing with April 1, 2001 and continuing through March
31, 2002, Tenant shall pay for 25,092 rentable square feet,
the sum of TWO HUNDRED SIXTY THREE THOUSAND FOUR HUNDRED
SIXTY SIX AND 00/100 DOLLARS ($263,466.00), plus Florida
sales tax, payable in equal consecutive monthly
installments of TWENTY ONE THOUSAND NINE HUNDRED FIFTY FIVE
AND 50/100 DOLLARS ($21,955.50) each, plus Florida sales
tax. Tenant's monthly escrow amount to be determined after
year 2000 end.
d. Commencing with April 1, 2002 and continuing through March
31, 2003, Tenant shall pay for 25,092 rentable square feet,
the sum of TWO HUNDRED SIXTY THREE THOUSAND FOUR HUNDRED
SIXTY SIX AND 00/100 DOLLARS ($263,466.00), plus Florida
sales tax, payable in equal consecutive monthly
installments of TWENTY ONE THOUSAND NINE HUNDRED FIFTY FIVE
AND 501100 DOLLARS
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($21,955.50) each, plus Florida sales tax. Tenant's monthly
escrow amount to be determined after year 2001 end.
4. Tenant agrees to take additional 3,240 rentable square feet
of expansion space known as Bay "P rear", South Building,
in an "as is" condition.
5. A security deposit for the additional 3,240 rentable square
feet of expansion space in the amount of TWO THOUSAND EIGHT
HUNDRED THIRTY FIVE AND 00/100 DOLLARS ($2,835.00), is to
be paid upon execution of this First Amendment to Lease
Agreement.
6. Except as expressly amended herein, all other terms and
conditions of said Lease shall remain in full force and
effect and are hereby ratified and confirmed.
7. This First Amendment to Lease Agreement shall be binding
upon the parties hereto and their respective heirs,
representatives, successors and assigns.
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement the day and year first above written.
WITNESSES: LANDLORD:
LANDO TRADEPORT LIMITED
PARTNERSHIP
/s/ Xxxxxxxx Xxxxxx By: /s/ Xxxxxx Xxxxxxx
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Xxxxxxxx Xxxxxx Xxxxxx Xxxxxxx
TENANT:
WORLD COMMERCE ONLINE, INC.
/s/ Xxxxxx Xxxxxx By: /s/ Xxxxxxx X. Xxxx, XX
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Xxxxxx Xxxxxx Xxxxxxx X. Xxxx, XX
Chief Financial Officer
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EXHIBIT "A"
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