January 25, 2000
Xxxxx Xxxxxx, President
Techdyne, Inc.
0000 Xxxx 00xx Xxxxxx
Xxxxxxx, Xxxxxxx 00000
RE: Medicore/Techdyne Lease at 2200 and 0000 Xxxx 00xx Xxxxxx,
Xxxxxxx, Xxxxxxx
Dear Xx. Xxxxxx:
This Letter Agreement confirms the understanding of the board of
directors of both companies to extend the Lease between our companies
originally dated July 17, 1990, and extended for a 5-year period on December
19, 1994 through March 31, 2000 (the "Lease"), which related to 13,000 square
feet of space at 0000 Xxxx 00xx Xxxxxx, Xxxxxxx, Xxxxxxx for your executive
offices and manufacturing, as well as 10,000 square feet of space at 0000 Xxxx
00xx Xxxxxx, Xxxxxxx, Xxxxxxx for your warehouse needs. It is hereby agreed
and understood that the Lease will continue in full force and effect for an
additional year pursuant to its original terms and conditions, except for the
fact that it will now expire on March 31, 2001, and that the square footage
now consists of an additional 3,000 square feet of space at 0000 Xxxx 00xx
Xxxxxx for an aggregate of 16,000 square feet at that location, and an
additional 2,000 square feet of space for the warehouse at 0000 Xxxx 00xx
Xxxxxx, Xxxxxxx, Xxxxxxx for an aggregate of 12,000 square feet of space at
that location, for an aggregate of 28,000 square feet of space. Further, that
the rent for the aggregate square footage of the Leased Premises of 28,000
square feet shall be an aggregate of $150,000 per annum or $12,500 per month,
plus Florida sales tax and any other additional rent as provided for in the
Lease. Please execute a copy of this Letter Agreement and return to the
undersigned acknowledging your agreement to these terms.
Very truly yours,
/s/ Xxxxxx X. Xxxxxxxx
Xxxxxx X. Xxxxxxxx
Chairman of the Board, Chief Executive
Officer and President
Acknowledged and accepted:
TECHDYNE, INC.
/s/ Xxxxx Xxxxxx
By:----------------------------------------
XXXXX XXXXXX, President and Director
