EXHIBIT 10.43
"ADDENDUM #18"
THIS AGREEMENT, made as of June 7, 2004, by and between Xxxx X. Xxxx and Xxxxxxx
X. Xxxx, party of the first part as "LESSOR", said party being of the City of
Wheeling, Ohio County, West Virginia, and VALLEY NATIONAL GASES, INC., party of
the second part, as "LESSEE".
NOW, THEREFORE, in consideration of the premises, mutual covenants and
agreements hereinafter set forth, the parties hereto do hereby covenant and
agree as follows:
1) This Agreement is an addendum to and as well amends and modifies the
Master Lease as well as any and all other addenda leases or
contracts relative to the Cranberry, Pennsylvania property subject
hereof by and between LESSOR and LESSEE and all prior Addenda and
amendments thereto (collectively "Lease").
2) For and in consideration of the payment of Two Hundred Fifty
Thousand Dollars ($250,000.00) by LESSEE to LESSOR, the parties'
rights under the Lease with respect to the Cranberry, Pennsylvania
property will be amended and modified as follows:
a) LESSEE'S leasehold rights and privileges with respect
to the Cranberry, Pennsylvania property will terminate
December 31, 2004, if not sooner terminated by LESSEE
as provided for herein. Prior to December 31, 2004,
LESSEE may, at anytime, terminate the Lease with
respect to the Cranberry, Pennsylvania property on
thirty (30) days prior notice to LESSOR.
b) As of the date of termination of the Lease with respect
to the Cranberry, Pennsylvania property, LESSOR will
have total possession thereof, and LESSEE will have no
further rights or obligations with respect thereto,
including especially but not limited to any further
obligation for the payment of rent.
c) Commencing June 30, 2004, and on the first day of each
month hereinafter until the Lease is terminated with
respect to the Cranberry, Pennsylvania property, the
monthly rent attributable to the Cranberry,
Pennsylvania property will be reduced to Eight Thousand
Dollars ($8,000.00) per month.
3) This Addendum #18 memorializes the agreement of the parties as set
forth in the correspondence of Xxxxxxx X. Xxxxxxxxxx, Chief
Executive Officer of LESSEE to Xxxxx and Obecny, PLLC dated March
25, 2004, addressing buyout of the Lease for the Cranberry
Pennsylvania property.
4) Except as amended and modified by this Addendum #18, the Lease will
continue in full force and effect, fully binding on the parties
hereto, their successors and assigns.
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IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed and delivered by their authorized officers and agents with full
authority therefore as of the day and year first above written.
WITNESSETH:
Xxxx X. Xxxx and Xxxxxxx X. Xxxx, LESSOR
/s/ Xxxxxxx X. Xxxxx By: /s/ Xxxx X. Xxxx
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/s/ Xxxxxxx X. Xxxx
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VALLEY NATIONAL GASES, INC. LESSEE
/s/ Xxxx X. Xxxxxxxx By: /s/ W A Xxxxxxxxxx
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Its: Chief Executive Officer
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