Exhibit 10(b)(v)
FIFTH AMENDMENT TO LEASE
AGREEMENT (this "Amendment") made as of the first day of December 2000, by and
between LECHAR REALTY CORP., a New York corporation, with its principal office
address at 0000 Xxxxxxxx, Xxx Xxxx XX 00000 ("Owner") and LIZ CLAIBORNE INC., a
Delaware corporation qualified to do business in the State of New York, with its
principal office and showroom address at 0000 Xxxxxxxx, Xxx Xxxx XX 00000
("Tenant").
W I T N E S S E T H:
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WHEREAS:
(i) Owner and Tenant are parties to a lease (the "Original Lease"), dated as of
January 1, 1990, as amended by letter agreement dated August 4, 1994, a First
Amendment; Lease Extension and Modification Agreement dated as of January 1,
1998 (the "Second Amendment"), and a Third Amendment to Lease dated as of
September 29,1999 (the "Third Amendment"), and Fourth Amendment to Lease dated
as of July 1, 2000 (the "Fourth Amendment") (collectively, the "Lease"), for
portions of the building at 0000 Xxxxxxxx, a/k/a 000 Xxxxxxx Xxxxxx, Xxx Xxxx XX
(the "Building"; except as otherwise expressly specified in this Amendment, all
defined terms used in the Lease shall have the meanings herein that are ascribed
to them in the Lease); and
(ii) Tenant and Owner have agreed to amend and modify the Lease upon the terms
and conditions hereinafter set forth
NOW, THEREFORE, in consideration of Ten Dollars and 00/100 ($10.00) and other
and further good and valuable consideration, including the mutual covenants
hereinafter set forth, Owner and Tenant agree that the Lease is hereby amended
and modified as follows:
1. Owner hereby leases by Tenant and Tenant hereby hires from Owner
the entire twenty-ninth (29th) floor of the Building containing
6,000
square feet ("Unit 2900") for a term commencing on December
1,2000, ending on December 31,2012 (as such date may be extended
in accordance with the terms of the Lease). From and after
December 1, 2000 Unit 2900 shall be and be deemed to be included
in and part of the Demised Premises.
2. From December 1, 2000 through and including December 31, 2012,
the Fixed Annual Rent payable in respect of Unit 2900 is
$285,000.00 per 12-month period.
3. Article 36 of the Original Lease, as modified by Paragraph 1 B
the First Amendment, shall apply to Unit 2900 as of December 1,
2000, except that Tenant's Proportionate Tax Share with respect
to Unit 2900 shall mean 1.32% and the Base Taxes shall mean the
Calendar Year 2001.
4. Article 37 of the Original Lease, as modified by the First
Amendment, shall apply to Unit 2900 commencing Calendar Year
2001.
5. The electric charges to be paid by Tenant for Unit 2900 shall be
as presently provided in the Lease.
6. Tenant accepts Unit 2900 in its present "as is" condition.
7. No broker has been involved with respect to this Fifth Amendment.
8. Paragraph 6 of the Third Amendment is hereby deleted.
Except as set forth above, the Lease is in all other respects hereby ratified
and confirmed.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
the day and year first set forth above.
OWNER:
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Lechar Realty Corp.
By: /s/ Xxxx X. Xxxxxxx
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Xxxx X. Xxxxxxx, President
TENANT:
Liz Claiborne Inc.
By: /s/ Xxxx XxXxxxx
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Xxxx XxXxxxx, Vice President
Profit Improvement and Facilities
Management
CONSENTED TO BY:
GENERAL ELECTRIC CAPITAL CORPORATION
Individually and as Agent
By: [Illegible Signature]
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Authorized Representative
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