AMENDMENT #2 TO LEASE
EXHIBIT
10.4
AMENDMENT
#2 TO LEASE
This is
an amendment to that certain Lease dated July 31, 1986 (the "Lease") and
Amendment #1 to the Lease signed February 22, 1995 by and between Cheldin
Management Company ("Lessor") and Unico American Corporation
("Lessee").
WHEREAS,
the parties wish to amend certain terms of the Lease;
THEREFORE,
for good and valuable consideration, the receipt of which is hereby
acknowledged, the parties agree as follows:
1. Term
Change. Paragraph 2 of the Lease and the first paragraph of Amendment
# 1 are hereby amended to extend the term of the Lease through March 31,
2012.
2. Rent
Change. Paragraph 4 of the Lease is hereby amended to provide that
monthly rent, effective as of April 1, 2007, shall be $88,916.
3. Option
to Extend. Tenant shall have two successive options to extend this
Lease for two additional successive five (5) year terms upon expiration of this
Lease. Such renewals shall be subject to all of the terms, covenants,
and conditions of this Lease, except that, upon each renewal, rent shall be
increased by five percent (5%).
4. Entire
Agreement. This Amendment, together with the Lease and Amendment #1 to the
Lease, constitute the final, complete and exclusive statement of the agreement
between the parties pertaining to their subject matter and supersedes any and
all prior and contemporaneous understandings or agreements of the
parties.
Unico
American Corporation
By: /s/ Xxxx X.
Cheldin
Date: March 23, 2007
Xxxx
X. Cheldin, Executive Vice-President
By: /s/ Xxxxxx X.
Xxxxx Date:
March 23, 2007
Xxxxxx
X. Xxxxx, Treasurer and
Chief Financial Officer
Cheldin
Management Company
By: /s/ Xxxxx
Cheldin
Date: March 23, 0000
Xxxxx
Xxxxxxx
