Exhibit 10.1
FIRST AMENDMENT TO LEASE
STATE OF TEXAS
COUNTY OF XXXXXX
This First Amendment to Lease ("Amendment') is made and entered into as
of 9/16 , 1997 by and between 000 Xxxxxxx Xxxxx Associates, Ltd. ("Landlord")
and Industrial Data
Systems, Inc. ("Tenant").
RECITALS
A. WHEREAS, Landlord and Tenant entered into a Lease Agreement dated August
18th, 1997 (the "Lease") for certain Premises known as 00000 Xxxxxxx
Xxxxx, Xxxxx #000, Xxxxxxx, Xxxxx 00000 consisting of approximately 8,137
square feet of leaseable area and;
B. WHEREAS, Landlord and Tenant desire to modify the Lease so as to modify
certain terms and provisions outlined in the original Lease, to allow for
the increase of square footage of the Premises that Tenant will occupy
under the terms and conditions of the original Lease and this First
Amendment to Lease; and;
C. WHEREAS, Landlord and Tenant hereby agree that no other document has been
executed or exchanged between the parties hereto other than the original
Lease Agreement specified above and that there are no side letters or any
oral agreements between the parties and:
D. WHEREAS, Landlord and Tenant agree that all defined terms used in this
Amendment shall have the same meaning assigned to them in the original
Lease, unless the context herein expressly provides otherwise.
NOW, THEREFORE, for one dollar ($1.00) and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
Landlord and Tenant hereby agree as follows:
AGREEMENTS
1. Effective immediately upon full execution of this First Amendment, Landlord
and Tenant mutually agree to expand the "Leased Premises" by 4,174 square
feet of leaseable area ("Expansion Premises") making a total leaseable area
of 12,311 square feet (See Attached Exhibit "A" Site Plan and Expansion
Premises).
2. Landlord and Tenant agree that the monthly base rental scheduled in the
original Lease shall be modified and scheduled as follows:
October 15, 1997 - October 31, 1997: $2,719.25
November 1, 1997 - April 30, 1998: $4,958.65 per month
May 1, 1998 - October 31, 1999: $5,970.84 per month
November 1, 1999 - October 31, 200 1: $6,040.17 per month
November 1, 2001 - October 31,2002: $6524.83 per month
3. Landlord and Tenant mutually agree to change the commencement date to
October 15, 1997 and the expiration date to October 31, 2002.
4. Taxes, common area maintenance, and insurance charges as specified in the
Lease under Section 4, Section 7, and Section 13, shall be modified to
allow that Tenant's proportionate share of these costs shall be equal to
7.19% of the expenses as defined in these paragraphs of the Lease. All
other defining terms and calculations of assessments and charges pursuant
to these paragraphs shall remain as specified in the original Lease with
the exception of the provisions relating to this modification and Tenant's
proportionate share.
5. Except as otherwise stated herein, all other terms and conditions of the
original Lease agreement dated August 18th, 1997 shall remain in full force
and effect and shall apply to the expansion premises located at 00000
Xxxxxxxx Xxxxx, Xxxxx #000 Xxxxxxx, Xxxxx 00000.
6. This Amendment shall be binding upon and inure to the benefit of landlord
and Tenant and their successors and assigns; however, this provision shall
not permit any additional transfer or assignment of the Lease by Tenant
which is otherwise limited by the terms of the Lease and this Amendment
required by Landlord's consent.
IN WITNESS WHEREOF, the parties have executed this First Amendment to
Lease as of this 16TH day of SEPTEMBER, 1997.
Exhibit List:
Exhibit "A" - Site Plan and Expansion Premises
TENANT: LANDLORD:
INDUSTRIAL DATA SYSTMES, INC. 000 XXXXXXX XXXXX ASSOCIATES LTD.
BY: /s/ XXXXXXX XXXXXX BY: /s/ XXXX X. XXXXXXXX
NAME: XXXXXXX XXXXXX BY: XXXX X. XXXXXXXX
TITLE: PRESIDENT TITLE: GENERAL PARTNER
DATE: 9/16/97 DATE: 9/16/97
