Exhibit 10.15.2
SECOND AMENDMENT TO LEASE
BETWEEN METRO FOUR ASSOCIATES LIMITED PARTNERSHIP,
AS LANDLORD, AND
HANOVERTRADE, INC.
AS TENANT
THIS SECOND AMENDMENT TO LEASE made this 14 day of May, 2004 between Metro
Four Associates Limited Partnership, a New Jersey limited partnership
("Landlord"), c/o Alfieri Property Management, having an office at 000 Xxxxxxxx
Xxxxxx, X.X. Xxx 0000, Xxxxxx, Xxx Xxxxxx 00000-0000 and HanoverTrade, Inc., a
Delaware Corporation, having an office at 000 Xxxxxxxx Xxxxxx, Xxxxxx, Xxx
Xxxxxx ("Tenant").
W I T N E S S E T H:
WHEREAS, Landlord and Pamex Capital Partners, L.L.C. ("Pamex") entered
into a Lease dated September 3, 1997 wherein Landlord let unto Pamex and Pamex
hired from Landlord 5,200 rentable square feet on a portion of the 2nd floor of
a certain office building commonly known and designated as 000 Xxxxxxxx Xxxxxx,
Xxxxxx, Xxx Xxxxxx for a term that commenced on May 1, 1997 and expired on April
30, 2000; and
WHEREAS, Landlord and Pamex entered into a First Amendment to Lease dated
May 17, 2000 (the leased as so amended being hereinafter referred to as the
"Lease") wherein the term of the Lease was extended until April 30, 2005; and
WHEREAS, Tenant is the successor in interest to Pamex and has assumed
the Lease; and
WHEREAS, Landlord and Tenant have agreed to further extend the term of the
Lease and to modify certain provisions of the Lease.
NOW THEREFORE, in consideration of the mutual covenants and undertakings
hereinafter set forth by and between the parties hereto, it is agreed as
follows:
1. The term of the Lease is hereby extended for five (5) months. The
Commencement Date of this Second Amendment to Lease shall be May 1, 2005 (the
"Commencement Date") and the Expiration Date shall be September 30, 2005
("Renewal Period").
2. As of the Commencement Date, Tenant's annual fixed rent shall be
$148,200.00 (calculated on the basis of $28.50 per square foot for 5,200
rentable square feet) which shall be payable in advance on the first day of each
and every month during the term of the Renewal Period in the amount of
$12,350.00.
3. Tenant hereby accepts the Demised Premises in "AS-IS" condition and
Landlord shall not be responsible to perform any work in the Demised Premises in
order for Tenant to occupy the Demised Premises.
4. As of the Commencement Date, the Base Year for the calculation of Taxes
and Operating Expenses as described in Article 5 of the Lease shall be calendar
year 2004.
5. No assignment of the Lease or subletting of the Demised Premises shall
be permitted during the Renewal Period.
6. During the Renewal Period, Tenant's monthly charge for electricity for
the Demised Premises shall be at the rate currently being charged pursuant and
subject to the resurvey provisions of Article 15 of the Lease.
7. Tenant covenants, warrants, and represents that there was no broker
except Newmark Real Estate of New Jersey, LLC ("Broker") instrumental in
consummating this Second Amendment to Lease and that no conversations or
negotiations were had with any broker except Broker concerning the renewal of
the Demised Premises. Tenant agrees to hold Landlord harmless against any claims
for a brokerage commission arising out of any conversations or negotiations had
by Tenant with any broker except Broker. Landlord agrees to pay Broker pursuant
to a separate agreement.
8. Except as modified herein, all of the terms, covenants and conditions
set forth in the Lease remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and
seals the day and year first above written.
LANDLORD:
WITNESS: METRO FOUR ASSOCIATES LIMITED PARTNERSHIP
a New Jersey Limited Partnership
/s/ Xxxxxxx Xxxxxxx
------------------------------------------
BY: XXXXXXX XXXXXXX
TITLE: Partner
TENANT:
ATTEST: HANOVERTRADE, INC.
a Delaware Corporation
/s/ Xxxxxxx X. Xxxxxxx /s/ Xxxx X. Xxxxxxx
-------------------------------- ------------------------------------------
BY: Xxxx X. Xxxxxxx
TITLE: President
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