SUBLEASE
THIS SUBLEASE is made as of the 14th day of June, 1991 between ASTRO
HOLDINGS, INC. (the "Sublessor") and XXXX CARGO SYSTEMS, INC. (the
"Sublessee").
The Sublessor is presently under an Amended and Restated Lease and
Operating Agreement (the "Prime Lease") dated December 30, 1990 wherein the
Philadelphia Regional Port Authority is Lessor. A true copy of the Prime Lease
is annexed to this Sublease and made a part hereof. A copy of the Prime Lease
has been initialed by both parties to this Sublease.
The Sublessor and Sublessee have agreed to a subletting of the Packer
Avenue Marine Terminal as more fully described on Exhibit A of the Prime Lease
upon the terms and conditions specified in this Sublease.
Except as specifically otherwise stated as follows, all covenants,
terms and conditions of the Prime Lease shall be binding upon the parties to
this Sublease, their heirs, representatives, successors and assigns:
1) Paragraph 24.2 "Additional Parcels" of the Prime Lease shall NOT
apply to this Sublease.
2) The annual rental to be paid by Sublessee to Sublessor hereunder
shall be equivalent to the rental to be paid by Sublessor as Assignee under the
Prime Lease ("Prime Rent"), plus
an additional sum equal to Fifteen (15%) Percent of the Prime Rent, and shall be
paid in the manner and at the times as stated in the Prime Lease.
IN WITNESS WHEREEOF, the parties hereto have set their hands and seals
the day and year first above written.
ASTRO HOLDINGS, INC.
BY: Xxxxxx X. Xxxx, Xx.
-------------------------------
President
ATTEST:
Xxxx Xxxxx
-------------------------------
XXXX CARGO SYSTEMS, INC,
BY: Xxxxxxx Xxxxxx
-------------------------------
V.P.
ATTEST:
Xxxx Xxxxx
-------------------------------
2
