Exhibit 10.39
ADDENDUM TO LEASE DATED AUGUST 8, 1991 AND MODIFIED BY
SUBSEQUENT ADDENDUM DATED APRIL 4, 0000 XXXXXXX XXXXXXXX
ASSOCIATES now known as MONTBELL ASSOCIATES, L.L.C., AS LANDLORD,
AND H-POWER CORP., AS TENANT
IT IS AGREED by and between the parties hereto that:
So long as the Tenant is not in default under any of the terms and conditions of
the above mentioned lease and subsequent addendum, the Landlord and Tenant agree
to modify the terms and conditions of said agreements as set forth in Schedule
"A" below:
All other terms and conditions of the Lease except as expressly provided for
herein shall remain unchanged and in full force and effect.
SCHEDULE "A"
RENTAL SCHEDULE
DATE ANNUAL MONTHLY
08/01/99 TO 07/31/00 $58,250.00 $4,687.50
08/01/00 TO 07/31/01 $58,250.00 $4,687.50
The Tenant shall have the right to renew this addendum for a one (1) year period
for the rentals set forth in Schedule "B" below. Tenant must notify the Landlord
in writing, via certified mail, return receipt requested during the month of
February 2001:
SCHEDULE "B"
RENTAL SCHEDULE
DATE ANNUAL MONTHLY
08/01/01 TO 07/31/02 $61,745.00 $5,145.42
The Tenant shall have the right to renew this addendum for a second (2nd) one
(1) year period for the rentals set forth in Schedule "C" below. Tenant must
notify the Landlord in writing, via certified mail, return receipt requested
during the month of February 2002:
SCHEDULE "C"
RENTAL SCHEDULE
DATE ANNUAL MONTHLY
08/01/02 TO 07/31/03 $65,449.70 $5,454.14
IN WITNESS WHEREOF, the Parties hereto have hereunto set their hands and
seals or caused these presents to be signed by their proper corporate officers.
Dated March 29, 1999
Witness:
/s/ Xxxxxx X. Xxxx
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As To Landlord MONTBELL ASSOCIATES, L.L.C.
LANDLORD
/s/ H. Xxxxx Xxxxxxx
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As to Tenant H-POWER INC.
TENANT
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