Exhibit 10.18
FIRST AMENDMENT TO LEASE
This First Amendment to Lease ("Amendment") is made as of February 1999
by Harbor Building, LLC ("Lessor") and Power Circuits, Inc. ("Lessee") with
respect to the following:
A. Lessor and Lessee are parties to the Standard
Industrial/Commercial Single-Tenant Lease-Net dated
as of March 9, 1998 (the "Lease"); and
X. Xxxxxx and Lessee desire to amend the Lease in
certain respects.
For good and valuable consideration, the receipt and sufficiency of
which are acknowledged, Lessor and Lessee agree as follows:
1. The Lease is hereby amended as follows:
(a) Paragraphs (a), (b) and (c) of Section 2.2 of the Lease
are deleted in their entirety and replaced with the following:
"100% of the cost of such Capital Expenditures shall
be borne by Lessee, unless such Capital Expenditure
is required during the last two (2) years of the term
of this Lease (including options, if any), in which
case Lessor and Lessee shall allocate the cost of
such Capital Expenditure based on the useful life of
such Capital Expenditure, as reasonably determined by
Lessor, as compared to the remaining term of the
Lease (including options, if any); provided, however,
that Lessee shall be responsible for 100% of the cost
of any Capital Expenditures required as a result of
Lessee's use."
(b) Section 6.2(d) of the Lease is amended by deleting the
language "(provided, however ... adjacent properties) ...", and
replacing that language with the following: "including without
limitation underground migration of any Hazardous Substances under
the Premises from adjacent properties".
(c) The following is added to the end of each of Section
6.2(d) and Section 6.2(e) of the Lease:
"Any Hazardous Substances which are found on, under
or about the Premises during the term of this Lease
shall be presumed to have been brought onto the
Premises by or for Lessee, unless Lessee proves by
conclusive evidence that they were on, under or about
the Premises prior to the commencement of the term of
the Lease."
(d) Section 7.1(c) of the Lease is deleted in its entirety.
(e) Section 9.4 of the Lease is deleted and replaced in its
entirety with the following:
"9.4 TOTAL DESTRUCTION. Notwithstanding any
other provision hereof, if a Premises Total
Destruction occurs, then, at Lessor's option, to be
exercised within ninety (90) days after the
occurrence of such Premises Total Destruction, this
Lease shall terminate within thirty (30) days
following such notice. If the damage or destruction
was caused by the gross negligence or willful
misconduct of Lessee, Lessor shall have the right to
recover Lessor's damages from Lessee, except as
provided in paragraph 8.6."
(f) The following paragraph (f) is added to the end of Section
12.3 of the Lease:
"(f) Notwithstanding anything to the
contrary provided elsewhere herein, Lessor shall be
entitled to 100% of any subletting profits."
(g) The last sentence of paragraph 17 of the Lease is deleted
in its entirety.
2. If there is any inconsistency between this Lease and the
Amendment, this Amendment shall govern.
3. Except as amended hereby, the Lease remains in full force and
effect.
4. This Amendment may be executed in one or more counterparts and
facsimile signatures will be binding for all purposes.
The parties hereby have executed this Amendment as of the date first
written above.
LESSOR
HARBOR BUILDING, LLC
By: /s/ Xxxxx Xxxxxxxxx
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Xxxxx Xxxxxxxxx, Co-Manager
By: /s/ Xxxx Xxxxxxxx
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Xxxx Xxxxxxxx, Co-Manager
LESSEE
POWER CIRCUITS, INC.
By: /s/ Xxxxx Xxxxxxxxx
--------------------------------------
Xxxxx Xxxxxxxxx, President
By: /s/ Xxxx Xxxxxxxx
--------------------------------------
Xxxx Xxxxxxxx, Secretary
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