Exhibit 10.21
TERMINATION OF LEASE AGREEMENTS
This Termination of Lease Agreements, (ATermination Agreement@) is
made and entered into as of the 9th day of February, 1999, by and between Xxxxx
X. Xxxxxxxxxx and Xxxx Xxxxxxxxxx, husband and wife, each a Kentucky resident,
(the ALessors@), and Transit Leasing, Inc., an Indiana corporation, f/k/a
Capitol Warehouse, Inc., a Kentucky corporation, (the ALessee@).
W I T N E S S E T H
WHEREAS, the Lessors and Lessee are parties to the Lease Agreements
(as defined below) and mutually desire to terminate and cancel each of the
Lease Agreements effective as of the date hereof.
NOW THEREFORE, for and in consideration of the mutual covenants
contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:
1. The Lessors and Lessee are parties to the following Lease Agreements
(the ALeases@), each dated August 15, 1997:
(1) That certain Lease of property located in Jefferson County,
Kentucky for the premises described on the attached Exhibit
A; and
(2) That certain Lease of property located in Shelby County, Kentucky for the
premises described on the attached Exhibit B.
2. The Leases are hereby canceled and terminated effective as of the date
hereof. It is agreed that Lessor shall not be required to refund to
Lessee any portion of the rental amount paid by Lessee under the
Leases for the month of February, 1999, notwithstanding the
termination of the Leases on the date hereof. It is further agreed
that on and after the date hereof, Lessee shall have no further
obligation to Lessor under either of the Leases, notwithstanding any
prepayment penalty or other provision of the Leases. Lessors further
acknowledge that they have inspected and accept the premises and have
no claims against Lessee or any of its affiliates in connection
herewith.
IN WITNESS WHEREOF, each of the undersigned have executed this
Termination Agreement as of the date set forth above.
LESSORS:
LESSEE:
_/s/ Xxxxx X. Pennington____ Transit Leasing, Inc., f/k/a
Xxxxx X. Xxxxxxxxxx Capitol Warehouse, Inc.
_/s/ Xxxx Pennington______ By:
__/s/__________________
Xxxx Xxxxxxxxxx
