FIRST AMENDMENT TO
STANDARD COMMERCIAL-INDUSTRIAL TRIPLE NET LEASE
This First Amendment to Standard Commercial-Industrial Triple Net Lease
("First Amendment") is made between Holualoa Peoria Avenue Industrial, LLC, an
Arizona limited liability company ("Lessor"), and Titan Motorcycle Co. of
America, Inc., a Nevada corporation ("Lessee") with respect to the following
recitals:
RECITALS
A. Lessor and Lessee entered into that certain Standard
Commercial-Industrial Triple Net Lease, dated December 16, 1996 (the "Lease")
for certain premises located at 0000 Xxxx Xxxxxx Xxxxxx, Xxxxxx X, X, X and E,
Phoenix, Arizona (the "Premises").
B. On August 7, 1997, Lessor and Lessee entered into a separate Standard
Commercial-Industrial Triple Net Lease (the "Expansion Lease") for certain
premises located at 0000 Xxxx Xxxxxx Xxxxxx, Xxxxx X, Xxxxxxx, Xxxxxxx (the
"Expansion Premises").
X. Xxxxxx and Lessee wish to amend the Lease as set forth below.
AGREEMENT
NOW THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Lessor and Lessee agree as
follows:
1. INCORPORATION OF RECITALS. The foregoing recitals are affirmed by the
parties as true and correct and are incorporated hereby by this reference.
2. TERM. The Lease is amended by extending the Term for a twenty-four month
period to end on March 31, 2004 (the "Extension Period").
3. MONTHLY BASE RENT. The monthly base rental shall be as specified in the
Lease except that the monthly base rental for the Extension Period shall be
Twenty Thousand Nine Hundred Six and no/100 Dollars ($20,906.00) triple net.
4. DEFAULT. Any default by Lessee under the Expansion Lease shall
constitute a material default and breach of the Lease by Lessee.
5. FULL FORCE AND EFFECT. Except as expressly amended hereby, the Lease
shall remain in full force and effect.
Dated: August 7, 1997.
LESSOR: LESSEE:
Holualoa Peoria Avenue Industrial, Titan Motorcycle Co. of America, Inc.,
LLC, an Arizona limited liability a Nevada corporation company
By: Holualoa Arizona, Inc., By: /s/ Xxxxxxx X. Xxxxx
an Arizona corporation ------------------------------------
Its: Manager Name: Xxxxxxx X. Xxxxx
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Its: CEO
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Date: 8/7/97
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By: /s/ Xxxxxx X. Xxxxx
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Name: Xxxxxx X. Xxxxx
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Its: Authorized Agent
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Date: 8/7/97
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