FIRST AMENDMENT
TO
LEASE AGREEMENT
This First Amendment to Lease Agreement (this "Agreement") is entered into
the 14th day of May, 1996 (the "Effective Date"), between GENEVA STEEL COMPANY,
a Utah corporation ("Landlord") and COVOL TECHNOLOGIES, INC., a Delaware
corporation formerly doing business as Environmental Technologies Group
International, Inc. ("Tenant").
Recitals:
A. Landlord and Tenant entered into a certain Lease Agreement dated May
12, 1995, (the "Lease Agreement'), wherein Tenant agreed to lease from Landlord
certain Premises located in Utah County, as such Premises are more fully
described in the Lease Agreement
B. The parties desire to amend the Lease Agreement as provided herein.
Amendment:
NOW, THEREFORE, in consideration of the promises and covenants set
forth herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Tenant and Landlord agree to amend
the Lease Agreement as follows:
1. Definitions. The capitalized terms used in this Amendment
shall have the same meanings ascribed in such terms in the Lease Agreement.
2. Services Agreement. From and after the Effective Date, the
"Services Agreement" referred to in Article I of the Lease Agreement shall refer
to that certain Amended and Restated Briquetting Services Agreement dated as of
May 14, 1996.
3. Maintenance of Premises. The last sentence of Section 6.02 of
the Lease Agreement is hereby deleted in its entirety and the following
substituted in lieu thereof:
Landlord shall have no obligation to repair or maintain the
Premises, Landlord's obligation being limited solely to the
payment of any Fee due pursuant to Section 5 of the Services
Agreement.
4. Utilities. The reference to "Section 6" in the first line of
Article VIII of the Lease Agreement is hereby changes to refer to "Section 10."
5. Entire Agreement. The phrase "and the Technology Rights
Agreement referred to therein," in the first sentence of Section 17.02 of the
Lease Agreement is hereby deleted.
6. Notices. Section 22 of the Lease Agreement is hereby amended
to provide that notices to Tenant shall be sent in the manner provided in the
Lease Agreement addressed as follows:
Xxxxxx Xxxxx
COVOL Technologies, Inc.
0000 Xxxxx Xxxxxxxx Xxxx
Xxxx, Xxxx 00000
Telecopier No.: 768-4483
7. Benefit. This Amendment is for the sole benefit of the parties
hereto and shall not be for the benefit or enforceable by any other person or
entity.
8. Ratification. Except as specifically modified herein, the parties
hereby ratify and reaffirm the terms, conditions, warranties and guarantees set
forth in the Lease Agreement.
IN WITNESS WHEREOF, the parties have caused this Amendment to be
executed as of the day and year first above written.
"Tenant"
COVOL TECHNOLOGIES, INC., a Delaware
corporation formerly known as
Environmental Technologies International,
Inc.
By /s/ Xxx Xxxxx
Its President
"Landlord"
GENEVA STEEL COMPANY, a Utah
corporation
By /s/ Xxx Xxxxxxxx
Its Sr. Vice President Engineering &
Technology
