SECOND AMENDMENT OF LEASE AGREEMENT
This Second Amendment of Lease Agreement is made this 5th day of
April, 1996, by and between C & S ASSOCIATES, VIII, a general partnership
organized and existing under and by virtue of the laws of the State of New York,
having its principal office at 000 Xxxxxx Xxxx, Xxxxx 000, Xxxxxxxxxxxxx, Xxx
Xxxx 00000 (the "Sublessor", and XXXXXX-XXXXXX, INC., a corporation organized
and existing under and by virtue of the laws of the State of New York, with its
address at 000 Xxxxxxxx Xxxxx, Xxxxxxx, Xxx Xxxx 00000 (the "Sublessee").
WHEREAS, Sublessor and Sublessee entered into a lease agreement
dated January 16, 1986, pursuant to which Sublessor leases to Sublessee 4,296
square feet of space in its building known as 000 Xxxxxxxx Xxxxx (the "Sublease
Agreement"), which Sublease Agreement was modified by an Amendment dated April
2, 1991 that extended the lease term for five (5) years; and
WHEREAS, Sublessor and Sublessee wish to modify the Lease Agreement
to extend the lease term for five (5) years (" Second Renewal Term").
NOW, THEREFORE, in consideration of the foregoing the parties agree
as follows:
1. All references to the Lease Term shall be deemed to include
the
Second Renewal Term.
2. The Second Renewal Term shall be for a period of five (5)
years, which term shall commence on April 1, 1996 and shall
terminate on March 31, 2001.
3. Commencing on April 1, 1996 base monthly rent for the Second
Renewal Term will be Eleven Dollars and No/100 ($11.00) per
square foot, or Three Thousand Nine Hundred Thirty Eight
Dollars and No/100 ($3,938.00) per month, or Forty Seven
Thousand, Two Hundred Fifty Six Dollars and No/100
($47,256.00) per year.
4. Sublessor hereby agrees to amortize Eleven Thousand Eight
Hundred Twenty Dollars and 63/100 ($11,820.63) in past due
rent and additional rent as detailed on Exhibit A attached
hereto. The amortization of this amount is included in the new
rent commencing April 1, 1996.
5. Upon the date of the execution of this Amendment, Tenant shall
deposit with Landlord the sum of Eight Thousand Nine Hundred
Forty Nine Dollars and No/100 ($8,949.00) representing the
balance due of the Security Deposit. After the twenty fourth
(24th) month of this Second Renewal Term the security deposit
($8,949.00) will be
refunded to the Sublessee if the Sublessee makes payment each
and every month up to and including the twenty fourth month,
without any late payments as defined in the Lease, or if the
Sublessee is acquired by another entity whose financial
statements are satisfactory to the Sublessor and the acquiring
company guarantees the payment of rent.
6. Sublessee will have the option to cancel this Lease after the
first two years of the Second Renewal Term if it, or its
assigns or successors, no longer maintains an office within a
50 mile radius of its current location and Sublessee delivers
a check in the amount of Seven Thousand Three Hundred Dollars
and No/100 ($7,300.00) along with a written notice of
cancellation no later than the 21st month of the Renewal Term.
7. Except as hereby modified the Lease Agreement is unchanged and
is hereby ratified and remains in full force and effect.
8. This Second Amendment to Sublease Agreement shall be effective
upon consent of the Agency and the Bondholder.
STATE OF NEW YORK )
)SS:
COUNTY OF ERIE )
On the 9th day of April, 1996, before me personally came Xxxxxxx X.
Xxxxx, Xx., to me personally known, who, being by me duly sworn did depose and
say that he resides at Williamsville, NY; that he is a general partner of C& S
ASSOCIATES, VIII, the partnership described in and which executed the foregoing
instrument and that he signed his name thereto as such general partner.
/s/ Xxxx Xxx Xxxxxx
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Notary Public
XXXX XXX XXXXXX
Notary Public, State of New York
Qualified in Erie County
My Commission Expires April 1, 0000
XXXXX XX XXX XXXX )
) SS:
COUNTY OF NEW YORK )
On the 5th day of April, 1996, before me personally came Xxxxxx X.
Xxxxxx, to me personally known, who, being by me duly sworn did depose and say
that he works at 000 X. 00 Xxxxxx XX, XX 00000; that he is the President of
XXXXXX-XXXXXX, INC., the corporation described in and which executed the
foregoing instrument; that he knows the seal of said corporation; that the seal
affixed to said instrument is such corporate seal; that it was so affixed by
order of the Board of Directors of said corporation and that he signed his name
thereto by like order.
XXXXXXX X. XXXXXX
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Notary Public
XXXXXXX X. XXXXXX
Notary Public, State of New York
No. 01FE5044110
Qualified in New York County
Commission Expires May 22, 1997
IN WITNESS WHEREOF, the parties have executed this Second Amendment
to Lease Agreement as of the first written date above.
C & S ASSOCIATES, VIII
By /s/ Xxxxxxx X. Xxxxx, Partner
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XXXXXX-XXXXXX, INC.
By /s/ Xxxxxx X. Xxxxxx
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Title President/Chairman
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