EXHIBIT 10.33
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FOURTH LEASE MODIFICATION & EXTENSION AGREEMENT
THIS AGREEMENT made this ___________ day of April 1998, by and between
DANBURY EXECUTIVE TOWER INVESTMENT GROUP LIMITED LIABILITY PARTNERSHIP, a
Connecticut limited liability partnership (hereinafter "OWNER"), successor to
TOWER INVESTMENT GROUP, ("TIG") 000 Xxxx Xxxxxx, Xxxxxxx, Xxxxxxxxxxx acting
herein by Xxxx X. Xxxxx, duly authorized partner (hereinafter "OWNER") and
COMMUNICATION DEVELOPMENT CORPORATION, 00 Xxxx Xxxxxx, Xxxxxxx, acting herein by
Xxxxxxxx Xxxxxxx, President, (hereinafter "TENANT").
WITNESSETH
WHEREAS, on the 23rd day of February 1990 OWNER and TENANT entered into a
certain Lease Agreement (hereinafter referred to as "AGREEMENT") for office
space at 00 Xxxx Xxxxxx, Xxxxxxx, Xxxxxxxxxxx, for a term of Three (3) years;
and
WHEREAS, on the 1st day of January 1993 OWNER and TENANT entered into a
Lease Modification; and
WHEREAS, on the 22nd day of February 1993 OWNER and TENANT entered into a
Second Lease Modification; and
WHEREAS, on the 24th day of August 1994 OWNER and TENANT entered into a
Third Lease Modification; and
WHEREAS, OWNER and TENANT wish to further modify the Agreement in
accordance with the terms and conditions contained herein;
WITNESSETH
NOW THEREFORE, in consideration of ONE DOLLAR ($1.00) and other valuable
consideration and the terms, conditions and covenants enumerated herein, OWNER
and TENANT hereby agree to modify the Agreement as follows:
1. Paragraph 2 entitled TERM is modified as follows:
The term of the Agreement shall be extended for three (3) years so that
the new termination date shall be February 28, 2001.
2. Paragraph 3.1 entitled AMOUNT is modified as follows:
a) The basic rent for the period from March 1, 1998 through February 28,
1999 shall be $7,010.00 per month.
b) The basic rent for the period from March 1, 1999 through February 28,
2000 shall be $7,126.00 per month.
c) The basic rent for the period from March 1, 2000 through February 2001
shall be $7,243.00 per month.
3. Paragraph 4.2 entitled PRORATA SHARE is modified to reflect that commencing
with TENANT'S occupancy of the additional 800 square feet the PRORATA SHARE
SHALL BE 10.16%.
4. Paragraph 4.4 entitled GROSS RENTABLE AREA of the Agreement is modified to
reflect a new GROSS RENTABLE AREA OF 5607.60 SQUARE FEET AS FOLLOWS: WHEN
TENANT TAKES POSSESSION OF ADDITIONAL SPACE, BASIC RENT SHALL INCREASE
PRORATA.
IN ALL OTHER respects the Agreement remains unmodified and the terms,
convenants and conditions contained in the Agreement are hereby reaffirmed and
restated and no term, covenant or condition shall be deemed to have been waived
by any prior action or nonaction of the OWNER.
IN WITNESS WHEREOF the parties hereto execute this Agreement in duplicate
this ___ day of ______________ 1998.
OWNER
DANBURY EXECUTIVE TOWER
INVESTMENT GROUP LIMITED LIABILITY
PARTNERSHIP
DATE 04/01/98 By: /S/ Xxxx X. Xxxxx
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Xxxx X. Xxxxx
TENANT
COMMUNICATION DEVELOPMENT CORPORATION
DATE 03/31/98 By: /S/ Xxxxxxxx Xxxxxxx
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It's President, Xxxxxxxx Xxxxxxx