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Exhibit 10.26a
November 19, 1998
Xx. Xxxxx X. Xxxxxxx
LLD Enterprises
000 Xxxx Xxxxxx
Xxxxxxxxx, XX 00000
RE: Lease between August, August and Lane of Rochester, LLC (Landlord)
And Monro Muffler/Brake, Inc. (Tenant)
Geneva, NY - Store#15
Dear Xx. Xxxxxxx:
This letter is to serve as agreement for amending the above referenced Lease as
follows:
1. The lease is amended for a term of ten (10) years to December 31, 2008.
After the initial ten (10) year term Monro will have one (1) remaining
ten (10) year option period available to exercise. Written notice of
exercise must be received by July 1, 2008.
2. The Tenant will furnish the Landlord with a new Certificate of Occupancy,
upon completion of the renovation if required said C of O will be furnished
by April 1, 1999. Until then the existing terms will continue. The first
lease year will be adjusted to run from January 1st to December 31st.
3. The base rent for the amended term and option period shall be $36,000.00
per year ($3,000.00 per month) or 6 3/4 % overage rent, whichever is
greater (subject to offset per paragraph 4).
4. Tenant will remodel store for construction costs of at least $25,000.00.
The overage which would accrue to Landlord for all Monro Muffler/Brake
Store #15 sales in the excess of _____________ (to be determined by January
10, 1999). This calculation shall be an average of two (2) years sales
prior to January 1, 1999, (calendar years 1997 and 1998 at 6 3/4 %). Said
amount shall be applied to Landlord's reimbursement to Tenant for one half
of the construction costs not to exceed $15,000.00.
5. At the inception of the ten (10) year term, Store #15 will become
"unbundled" forever in that Monro will have the ability to renew or
terminate this Lease without any other lease being affected.
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6. In the event the agreed upon renovations are not completed by April 15,
1999, then this Lease addendum will be null and void and the next option
term of current lease is deemed exercised and that Lease will continue in
full force until March 31, 2004.
7. THIS AGREEMENT IS SIGNED SUBJECT TO AND CONTINGENT ON BOTH PARTIES AGREEING
TO THE EXCESS OVERAGE CALCULATION DETERMINED IN PARAGRAPH 4.
Your signature below will indicate acknowledgement and acceptance on behalf of
Landlord for the above terms and conditions.
Very truly yours,
Monro Muffler/Brake, Inc.
/s/ Xxxxxx X. Xxxxxxxxxxx
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Xxxxxx X. Xxxxxxxxxxx
The above terms and conditions are hereby acknowledged and accepted:
Landlord
August, August and Lane, LLC
By: /s/ Xxxxx Xxxxxxx Date: December 1, 1998
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Xxxxx Xxxxxxx
