SECOND AMENDMENT TO LEASE BY AND BETWEEN: BRIDGEVIEW PLAZA ASSOCIATES, a New Jersey limited partnership, -and- ARKADOS, INC., a Delaware corporation, DATED: LAW OFFICES EPSTEIN, BROWN & GIOIA, LLC Chatham Township, NJ 07928-0901 Fax (973) 593-4966...
EXHIBIT 99.2
SECOND
AMENDMENT TO LEASE
BY AND
BETWEEN:
BRIDGEVIEW
PLAZA ASSOCIATES,
a New
Jersey limited partnership,
“Landlord”
-and-
ARKADOS,
INC.,
a
Delaware corporation,
“Tenant”
DATED:
LAW
OFFICES
XXXXXXX,
XXXXX & XXXXX, LLC
000 Xxxxx
Xxxxxxx Xxxx
X.X. Xxx
000
Xxxxxxx
Xxxxxxxx, XX 00000-0000
(000)
000-0000
Fax (000)
000-0000
September
9, 2009
SECOND
AMENDMENT TO LEASE dated this 14th day
of September, 2009, by and between BRIDGEVIEW PLAZA ASSOCIATES, a New Jersey
limited partnership, having an office at Schoolhouse Plaza, 000 Xxxxxxxx Xxxxxx,
0xx Xxxxx, Xxxxxxxx, Xxx Xxxxxx 00000, hereinafter called the “Landlord”; and
ARKADOS, INC., a Delaware corporation, having an address at 000 Xxx Xxx
Xxxxxxxxx Xxxx, Xxxxxxxxxx, Xxx Xxxxxx 00000, hereinafter called the
“Tenant”.
W I T N E S S E T H :-
WHEREAS,
the Landlord owns certain lands and premises in the Township of Piscataway,
County of Middlesex and State of New Jersey, which lands and premises are
commonly known as 000 Xxx Xxx Xxxxxxxxx Xxxx, upon which there has been erected
a building containing approximately 36,170 square feet, hereinafter called the
“Building”; and
WHEREAS,
the Landlord and Tenant have previously entered into a lease agreement dated May
2, 2006, as amended by First Amendment to Lease dated June 30, 2009, hereinafter
collectively called the “Lease”, in connection with the leasing of approximately
6,600 square feet in the Building, hereinafter called the “Leased Premises”;
and
- 1
-
WHEREAS,
Landlord has served a warrant of removal on Tenant, in accordance with the
provisions of the aforementioned First Amendment to Lease; and
WHEREAS,
Landlord has agreed to redeliver possession of the Leased Premises to Tenant, in
accordance with the terms and conditions of this Second Amendment to
Lease.
NOW,
THEREFORE, in consideration of the sum of one ($1.00) DOLLAR and other good and
valuable consideration, the parties hereto covenant and agree as
follows:
1. Upon
the Tenant delivering to Landlord the sum of FORTY THOUSAND AND 00/100
($40,000.00) DOLLARS, to be applied to Tenant’s past due Base
Rent and additional rent (the “Arrearages”), as shown on the aging report which
is annexed hereto as Schedule “A”, Landlord hereby agrees that it shall promptly
redeliver possession of the Leased Premises to Tenant.
2. Tenant
hereby agrees that it shall pay to Landlord the balance of the Arrearages, all
Base Rent and additional rent applicable to the month of September, 2009, and
the security deposit set forth in Paragraph 7 of the aforementioned First
Amendment to Lease, on or before September 30, 2009.If all of such monies are
not paid to Landlord by
- 2
-
said
date, Landlord shall have the immediate right to file a complaint in the
Superior Court of New Jersey for the dispossession of Tenant for non-payment of
rent, without Landlord having any obligation to provide any further notice to
Tenant. Landlord agrees, however, that it will not serve a warrant of removal on
Tenant until after October 31, 2009, in the event that Landlord has received a
judgment for possession prior to said date.
3. Landlord
and Tenant hereby ratify and confirm the terms and conditions of the Lease, as
amended hereby.
4. This
agreement shall be binding upon the parties hereto, their heirs, successors and
assigns.
IN
WITNESS WHEREOF, the parties hereto have caused these presents to be executed by
their proper corporate officers and caused their proper corporate seals to be
hereto affixed the day and year first above written.
|
WITNESS:
/s/
Xxxxx X. Xxxxxxxxx
ATTEST:
/s/
Xxxxx X. Xxxxxxxxx
|
BRIDGEVIEW
PLAZA ASSOCIATES
By: Xxxxxxx Xxxxxxxxx, GP
ARKADOS, INC.
/s/ Xxxxx Xxxxxxxx, CFO, Secretary
|
- 3
-
STATE OF
NEW JERSEY )
) SS.:
COUNTY OF
ESSEX )
BE IT
REMEMBERED, that on this 9 day of September, 2009, before me, the subscriber,
[illegible] personally appeared who, I am satisfied, is a General Partner on
behalf of BRIDGEVIEW PLAZA ASSOCIATES, a New Jersey limited partnership, the
Partnership mentioned in the within Instrument, and thereupon he acknowledged
that he signed, sealed and delivered the same as the act and deed of the
partnership,for the uses and purposes therein expressed.
|
Sworn
and subscribed
9
day of September, 2009
|
XXXXXX
XXXXXXX XXXXX
NOTARY
PUBLIC OF NEW JERSEY
ID
# 2383281
Commission
Expires 3/9/2014
/s/ Xxxxxx Xxxxx
|
STATE OF
NEW JERSEY )
) SS.:
COUNTY OF
ESSEX )
BE IT
REMEMBERED, that on this 9 day of September 2009, before me, the subscriber,
Xxxx Xxxxxxxx personally appeared Xxxxx Xxxxxxxx, who, I am satisfied, is the
person who signed the within Instrument as CFO, Secretary of ARKADOS, INC., a
Delaware corporation, the Corporation named therein, and he thereupon
acknowledged that the said instrument made by the corporation and sealed with
its corporate seal, was signed and sealed with the corporate seal and delivered
by him as such officer, and is the voluntary act and deed of the corporation,
made by virtue of authority from its Board of Directors.
|
Sworn
and subscribed
9
day of September, 2009
|
/s/
Xxxxxx X. Xxxxx
XXXXXX
XXXXXXX XXXXX
NOTARY
PUBLIC OF NEW JERSEY
ID
# 2383281
Commission
Expires 3/9/2014
|
- 4
-
Schedule
A
COMMERCE
MANAGEMENT CORP.
|
Aging
Report
(Detailed)
|
as of 09/03/2009
Property
: Xxxxxxxxxx Xxxxx
00
Xxxxxxxxxx, X.X. 00000
|
Unit
Type
|
Unit
Reference Occupant Deposits
Number Name Held
|
Balance
Due
|
AGED
1-
30
DAYS
|
AGED
31-
60
DAYS
|
AGED
61-90
DAYS
|
AGED
OVER
90
DAYS
|
|||||||||
|
CUBA
|
4
|
Arkados,
Inc. 0.00
|
52,375.51
|
12,506.61
|
9,914.13
|
10,501.25
|
19,453.52
|
||||||||
|
Phone:
|
(000)
000-0000
|
||||||||||||||
|
CHARGE
CODE
|
CHARGE
DESCRIPTION
|
CHARGE
DATE
|
|||||||||||||
|
RTE
|
REALTY
TAX 6/01/07-5/31/08
|
05/15/2009
|
668.45
|
||||||||||||
|
ELE
|
ELECTRIC
|
06/01/2009
|
875.00
|
||||||||||||
|
ESC
|
ESCALATION
|
06/01/2009
|
400.00
|
||||||||||||
|
RNT
|
Monthly
Rent
|
06/01/2009
|
8,387.50
|
||||||||||||
|
ESC
|
ESCALATION
6/1/08-5/31/09
|
06/02/2009
|
9,122.57
|
||||||||||||
|
LAT
|
LATE
RENT FEE - JUNE
|
06/10/2009
|
838.75
|
||||||||||||
|
ELE
|
ELECTRIC
|
07/01/2009
|
875.00
|
||||||||||||
|
ESC
|
ESCALATION
|
07/01/2009
|
400.00
|
||||||||||||
|
RNT
|
Monthly
Rent
|
07/01/2009
|
8,387.50
|
||||||||||||
|
ELE
|
ELECTRIC
|
08/01/2009
|
875.00
|
||||||||||||
|
ESC
|
ESCALATION
|
08/01/2009
|
400.00
|
||||||||||||
|
RNT
|
Monthly
Rent
|
08/01/2009
|
8,639.13
|
||||||||||||
|
LAT
|
AUGUST
LATE RENT FEE
|
08/11/2009
|
863.91
|
||||||||||||
|
INT
|
INTEREST
ON PAST DUE ITEMS
|
08/21/2009
|
1,728.57
|
||||||||||||
|
ELE
|
ELECTRIC
|
09/01/2009
|
875.00
|
||||||||||||
|
ESC
|
ESCALATION
|
09/01/2009
|
400.00
|
||||||||||||
|
RNT
|
Monthly
Rent
|
09/01/2009
|
8,639.13
|
||||||||||||
