EXHIBIT 10.2
SECOND AMENDMENT TO LEASE
STATE OF TEXAS
COUNTY OF XXXXXX
This Second Amendment to Lease ("Amendment') is made and entered into as
of November 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 entered into a First Amendment dated
September 16, 1997, adding 4,174 square feet of leased Premises and;
C. WHEREAS. Landlord and Tenant desire to modify the Lease so as to
modify certain terms and provisions outlined in the original Lease and First
Amendment and to restate the term of the lease and the schedule of rent and;
D.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 and First Amendment ,specified above and that there are no side
letters or any oral agreements between the parties and,
E.WHEREAS, Landlord and Tenant agree that all defined terms used in this Second
Amendment shall have the same meaning assigned to them in the original Lease
and First Amendment, 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. Landlord and Tenant agree that the monthly base rental schedule
in the original Lease shall be
modified and scheduled as follows:
January 1, 1998 - June 30, 1998 $4,958.65
July 1, 1998 - December 31, 1999 $5,970.84
January 1, 2000 - December 31, 2001 $6,040.17
January 1, 2002 - December 31, 2002 $6,524.83
2. Landlord and Tenant mutally agree to change the commencement date to
January 1, 1998 and the expiration date to December 31, 2002.
3 Line 4 of Exhibit "C" shall substitute "December 31, 2002"
for "30 days of September, 2002."
4. Except as otherwise stated herein, all other terms and conditions of
the original Lease Agreement datedAugust 18th, 1997 as amended by the
First Amendment shall remain in full force and effect and shall apply
to the Leased Premises located at 00000 Xxxxxxx Xxxxx, Xxxxx #000,
Xxxxxxx, Xxxxx 00000.
5. This Second Amendment shall be, binding upon and inure to the benefit
of Xxxxxxxx and Tenant and their successors and assigns; however,
this provision shall not permit any additional transfer or assignment
of the Lease by Tenant except as allowed under the terms of the
Lease.
IN WITNESS WHEREOF, the parties have executed this Second Amendment
to Lease as of this 20TH day of November, 1997.
TENANT: LANDLORD:
INDUSTRIAL DATA SYSTEMS, INC. 000 XXXXXXX XXXXX ASSOCIATES LTD.
BY: /s/ XXXXXXX X. XXXXXX BY: /s/ XXXX X. XXXXXXXX
NAME: XXXXXXX X. XXXXXX NAME: XXXX X. XXXXXXXX
TITLE: PRESIDENT TITLE: GENERAL PARTNER
DATE: 11/19/97 DATE: 11/20/97
FILE: 1997/costids.doc