Exhibit 10.20
RESTATED AMENDMENT NO. 1 TO INDENTURE OF LEASE
THIS RESTATED AMENDMENT NO. 1 TO INDENTURE OF LEASE (this "Amendment") is
made and entered into as of the 13th day of July, 2007 (the "Effective Date")
between Landlord and Tenant named below:
LANDLORD: WE 000 Xxxxxxx Xxxxx LLC (as successor in interest to
Century Drive L.L.C.)
c/o Winstanley Enterprises LLC
000 Xxxxx Xxxxxx Xxxxxxxxx, Xxxxx 000
Xxxxxxx, XX 00000
TENANT: Startech Environmental Corporation
00 Xxxxxxx Xxxx, Xxxxx 0X
Xxxxxx, XX 00000
Attn: Xx. Xxxxx Xxxxxxx
BUILDING: 000 Xxxxxxx Xxxxx
Xxxxxxx, Xxxxxxxxxxx
WHEREAS, Landlord and Tenant executed an indenture of lease dated June 15,
2005 (the "Lease"), whereby Tenant leased approximately 10,800 rentable square
feet of space of the Building, which was remeasured and determined to actually
be 10,830 rentable square feet (the "Initial Premises"); and
WHEREAS, Tenant desires to lease an additional area of approximately 5,461
rentable square feet of space in the Building; and
WHEREAS, Landlord and Tenant wish to execute an amendment of the Lease
stating, among other things, the rentable square feet leased to Tenant, the
Annual Base Rent and the monthly rent installment payable under the Lease.
WHEREAS, Landlord and Tenant previously executed and delivered Amendment
No. 1 to Indenture of Lease (the "Original Amendment"), which amendment
contained the incorrect rentable square footage, pro rata share, and rent
amount.
WHEREAS, Landlord and Tenant wish to amended and restate the Original
Amendment in its entirety;
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, Landlord and Tenant hereby agree as
follows:
1. Capitalized terms used but not defined herein shall have the meaning
ascribed to each in the Lease.
2. All references to Landlord in the Lease shall hereinafter be to WE 000
Xxxxxxx Xxxxx LLC, and all rent shall be payable to the Landlord at the address
written above.
3. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord
additional space of the Building consisting of approximately 5,461 rentable
square feet of floor area and located as shown on the floor plan attached hereto
as Exhibit A (the "Expansion Premises"). From and after the date hereof the
definition of "Demised Premises" as defined in the Lease shall be deemed to
include the Initial Premises and the Expansion Premises and shall consist, in
the aggregate, of 16,291 rentable square feet.
4. Exhibit "A" to the Lease is hereby replaced with the Amendment No. 2
Replacement Exhibit A attached hereto. All references to the term Demised
Premises in the Lease shall be deemed to mean the premises described on
Amendment No. 2 Replacement Exhibit A.
5. Following execution and delivery of this Amendment, the Term of the
Lease shall be extended to, and end on, June 15, 2009.
6. Prior to July 1, 2007 (the "Expansion Premises Rent Commencement Date"),
Tenant shall continue to pay rent at the time, in the manner and in amounts set
forth in the Lease. From and after Expansion Premises Rent Commencement Date,
rent shall be payable at the time and in the manner set forth in the Lease, but
the amounts set forth in Section 6 shall be modified as follows: From and after
the Expansion Premises Rent Commencement Date until the end of the term annual
minimum rent shall be $97,746.00 and the monthly installment of such amount
shall be $8,145.50.
7. Any and all references to the Tenant's pro rata share and to "forty four
and forty-four hundredths" contained in the Lease, including, without
limitation, in Sections 7 and 9, is increased to 66.99%.
8. Notwithstanding anything contained in the Lease to the contrary, from
and after the Expansion Premises Rent Commencement Date. Tenant shall be
responsible for its own cleaning and removal of rubbish, and Landlord shall no
longer be obligated to provide such services.
9. From and after June 15, 2007, Tenant shall have use and occupancy of the
Expansion Premises.
10. Tenant represents that Tenant is thoroughly acquainted with the
condition of the Building, the Initial Premises and the Expansion Premises, and
takes the Expansion Premises "as is." The taking of possession of the Expansion
Premises by Tenant shall be conclusive evidence that the Expansion Premises was
in good and satisfactory condition at the time possession was taken by Tenant.
11. Landlord and Tenant represent that in negotiation of this Amendment,
they dealt only with Xxxxxxx & Xxxxxxxxx of Connecticut as the real estate
broker (the "Broker"). Landlord shall be responsible for brokerage commissions
due to Broker under a separate agreement. Tenant hereby agrees to indemnify
Landlord and hold it harmless from any and all losses, damages and expenses
arising out of any inaccuracy or alleged inaccuracy of the above representation
including, without limitation, court costs and attorneys fees.
12. Landlord and Tenant represent and warrant to the other that each has
full authority to enter into this Amendment No. 1 to Indenture of Lease and
further agree to hold harmless, defend, and indemnify the other from any loss,
costs (including reasonable attorneys' fees), damages, or claim arising from any
lack of such authority.
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13. As modified herein, the Lease is hereby ratified and confirmed and
shall remain in full force and effect.
14. This Amendment amends and restates in its entirety the Original
Amendment.
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IN WITNESS WHEREOF, Landlord and Tenant have signed this Amendment No. 2 to
Indenture of Lease as of the day and year first above written.
LANDLORD:
WE 000 XXXXXXX XXXXX LLC
By: Winstanley Real Estate Income
Fund, LLC,
Its Manager
By: Winstanley Fund, LLC,
Its Managing Member
By: Winstanley Enterprises LLC,
Its Manger
By: /s/ Xxxx X. Xxxxxxxxxx
--------------------------
Xxxx X. Xxxxxxxxxx
A Manager
TENANT:
STARTECH ENVIRONMENTAL CORPORATION
By: /s/ Xxxxx X. Xxxxxxx
------------------------
Name:
Its: CFO
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AMENDMENT NO. 1 REPLACEMENT EXHIBIT A
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