Exhibit 10.20.1
ADDENDUM B
This Addendum A (the "Addendum") is attached to and made a part of that
Lease Agreement # 000-00000-000 dated May 30, 1997 (the "Lease Agreement")
executed by and between Xxxxxxx Xxxxxx & Company Leasing, Inc. ("Lessor") and
Xxxxxx Xxxx Xxxxx Inc.
("Lessee").
All terms defined in the Lease Agreement will have the same meaning
when used in this Addendum unless redefined herein.
Notwithstanding anything to the contrary stated herein, in the event
the Lessee requests to prepay the Lease Agreement the Lessor will grant the
request so long as the prepayment is on the following terms:
1) If the prepayment takes place within the first 12 months of the
Lease Agreement, Lessee will pay to the Lessor, only Lessor's net investment
(Lessor's Equipment Cost) plus all accrued interest due through the date of the
payoff plus any additional accrued interest so that when paid in full (combined
monthly payments and accrued interest), Lessor will have received interest equal
to one full year of interest, which both parties agree is at a rate of fourteen
percent (14%) per annum;
OR
2) If the prepayment takes place after the end of the 12th month of the
Lease Agreement, Lessee must pay in accordance with the terms of the Lease
Agreement including payment of the FMV Purchase Option.
All other terms and conditions remain the same.
LESSOR: LESSEE:
Xxxxxxx Xxxxxx & Company Xxxxxx Xxxx Xxxxx, Inc.
Leasing, Inc.
By:/s/ Xxxxx X. Xxxxxxxxx By: /s/ Xxxxxx X. Xxxxxx
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Title: Vice President & COO Title: President
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