STATE OF NORTH CAROLINA
LEASE AMENDMENT AND
COUNTY OF MECKLENBURG EXTENSION AGREEMENT
This LEASE AMENDMENT AND EXTENSION AGREEMENT (the "Agreement"),
is made effective the 1st day of April, 1995, by and between XXXXXXXX BROTHERS
PARTNERSHIP ("Lessor" herein) and XXXXXXXX INDUSTRIES, INC. ("Tenant" herein).
STATEMENT OF PURPOSE
A. Lessor entered into a written lease agreement with Tenant dated
December 12, 1990 (the "Lease"), pursuant to which Lessor leased to Tenant
and the Tenant leased from Lessor the Leased Premises described therein which
are located at 000 Xxxx Xxxxx Xxxxxx, Xxxxxxxxx, Xxxxx Xxxxxxxx.
B. The parties now wish to amend the Lease to extend the Lease Term and
modify the rents payable thereunder.
C. The parties enter into this Agreement in order to document their
understandings and undertakings in respect to the desired extension and
amendments to the Lease.
NOW, THEREFORE, in consideration of the Statement of Purpose (which by
this reference is made a substantive part of this Lease Amendment and
Extension Agreement) and other valuable considation exchanged, the adequacy,
sufficiency and delivery of which are acknowledged by the parties, Lessor
and Tenant mutually agree:
1. Incorporation of Statement of Purpose. The parties hereto ratify and
incorporate by reference the Statement of Purpose set forth above.
2. Additional Term. Lessor hereby leases and demises to Tenant, and Tenant
hereby rents and takes from Lessor the Leased Premises for an additional
term of one (1) year, commencing at midnight on the 1st day of April, 1995,
and ending on March 31, 1996, upon the same terms and conditions as set forth
in the Lease, except as herein modified.
3. Rental During Additional Term. The rent amount during the Additional
Term shall be the sum of THREE HUNDRED ELEVEN THOUSAND FIVE HUNDRED TWENTY
and NO/100 ($311,520.00) per year, in monthly installments of
TWENTY-FIVE THOUSAND NINE HUNDRED SIXTY and NO/100 DOLLARS ($25,960.00)
payable on the first day of each month during the term hereof, commencing
on the 1st day of April, 1995.
4. Ratification of Lease. Except as herein amended and extended, the parties
ratify and confirm the Lease. Further, as of the date of this Agreement,
Tenant hereby certifies to Lessor that: (a) the Lease, as amended, is in
full force and effect; (b) Lessor has performed all of its obligations
and satisfied all of its conditions arising under the Lease; and
(c) Tenant has not assigned, sublet or encumbered its interest in the Lease.
5. Binding Effect. This Agreement shall be binding upon and shall inure to
the benefit of Lessor and the Parties constituting the Tenant, jointly and
severally, and their respective personal representatives, heirs, successors
and permitted assigns.
6. Entire Agreement. This Agreement contains the entire agreement of the
parties hereto, and no change, qualification or cancellation hereof shall be
effective unless set forth in a writing signed by the parties hereto.
7. Notices. All notices, requests, consents and other communications in
connection with this Agreement shall be in writing and shall be deemed to
have been duly given when delivered or mailed in the United States Mail,
First Class, postage prepaid and addressed as follows:
As to Seller: Xxxxxxxx Brothers Partnership
x/x Xxxxxx X. Xxxxxxxx
000 Xxxx 0xx Xxxxxx
P.O. Box 31215
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000
As to Tenant: Xxxxxxxx Industries, Inc.
000 Xxxx 0xx Xxxxxx
P.O. Box 31215
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000
8. Severability. In the event that any portion of this Agreement is found
to be in violation of or conflict with any federal or state law, the parties
agree that the invalidity or unenforceability of such provision shall be in
no way render invalid or unenforceable any other part of provision hereof.
9. Governing Law. This Agreement shall be construed and enforced in
accordance with the applicable provisions of North Carolina law, and the
parties hereto do further agree and stipulate that any dispute hereunder
shall be brought in the court of proper jurisdiction (State or Federal)
in Charlotte, Mecklenburg County, North Carolina.
-2-
IN WITNESS WHEREOF, the Lessor and Tenant have each executed this Agreement
as of the day and year set forth above.
XXXXXXXX BROTHERS PARTNERSHIP
(Signature of Xxxxxx X. Xxxxxxxx appears here)
Xxxxxx X. Xxxxxxxx
(Signature of Xxxxxxxx X. Xxxxxxxx appears here)
Xxxxxxxx X. Xxxxxxxx
XXXXXXXX INDUSTRIES, INC.
(Signature of Xxxxxx X. Xxxxxxxx appears here)
Xxxxxx X. Xxxxxxxx, President
ATTEST:
(Signature appears here)
Secretary
[CORPORATE SEAL]
(Corporate Seal appears here)
-0-
XXXXX XX XXXXX XXXXXXXX
XXXXXX XX XXXXXXXXXXX
I, Xxxx Xxxx Xxxxxxx a Notary Public in and for said County and State
do hereby certify that Xxxxxx X. Xxxxxxxx, personally appeared before me this
day and acknowledged the due execution of the foregoing instrument.
Witness my hand and notarial seal, this the 28th day of March, 1995.
(SIGNATURE OF XXXX XXXX XXXXXXX APPEARS HERE)
NOTARY PUBLIC
MY COMMISSION
MY COMMISSION EXPIRES: EXPIRES JUNE 25, 1996
[SEAL]
STATE OF FLORIDA
COUNTY OF PALM BEACH
I, Xxxxx X. Xxxxxxx a Notary Public in and for said County and State do
hereby certify that Xxxxxxxx X. Xxxxxxxx, personally appeared before me this
day and acknowledged the due execution of the foregoing instrument.
Witness my hand and notarial seal, this the 3 day of April, 1995.
(Signature of Xxxxx X. Xxxxxxx appears here)
Notary Public
My Commission Expires: 7/18/98
[SEAL]
(Official Notary Public Seal
XXXXX X. XXXXXXX
(Logo of the Notary COMMISSION NUMBER
Public State of CC381769
Florida MY COMMISSION EXP.
appears here) JULY 18, 1998)
-4-
