EXHIBIT 10.17
MEMORANDUM OF AGREEMENT OF EXTENTION OF LEASE MADE AND ENTERED INTO
XXX XXXX XX XXX XXXXXXXX XX XXXXXXXX, XX THIS 29TH DAY OF JANUARY 1997.
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BETWEEN: METRO II & III (G.P.), general partnership, duly authorized to act on
behalf of the owners of the building herein below described, having
its place of business at 8300 Pie IX, Montreal, Province of Xxxxxx,
X0X 0X0, herein acting and represented by Xx. Xxxxxx Xxxxxxx, duly
authorized for these purposes,
(hereinafter referred to as "Lessor")
AND: XXXXXXXX CANADA INC., legal person duly incorporated having its head
office at 000 Xxxxx Xxxxxxxx, Xxxxx 0000, Xxxxxxxx, Xxxxxxxx of Quebec
and a place of business at 0000 Xxxxxxxxxxxxx Xxxx, Xxxxx 0,
Xx-Xxxxxxx, Xxxxxxxx xx Xxxxxx, X0X 0X0, herein acting and represented
by Xxxxxx X. Xxxxxxxx, its President, duly authorized by virtue of a
resolution of its Board of Directors, a certified extract of which is
annexed to these present;
(hereinafter referred to as "Lessee")
WHEREAS the Lessor is acting on behalf of the owners of that certain building
bearing civic address 0000 Xxxxxxxxxxxx Xxxx, Xx-Xxxxxxxx, Xxxxxxxx xx Xxxxxx
("Building");
WHEREAS in virtue of a lease starting March 1, 1989 ("Lease") the Lessee leased
those certain premises bearing civic address 0000 Xxxxxxxxxxxx Xxxx, Xxxxx "0",
Xx-Xxxxxxx, Xxxxxxxx xx Xxxxxx, having approximately TWO HUNDRED AND FIFTY
square feet (250 sq.ft.) ("Leased Premises"), for the period of THREE (3) years;
WHEREAS the Lessee and the Lessor did extend the Lease for a further period of
THREE (3) years by agreement dated February 17, 1992, for a further period of
ONE (1) year by agreement dated October 21, 1994 and for a period of ONE (1)
year by agreement dated November 21, 1995;
WHEREAS the Lease and the agreements dated February 17, 1992, October 21, 1994
and November 21, 1995 are hereinafter called the Lease;
WHEREAS both the Lessor and the Lessee wish to extend the Lease for a further
term of ONE (1) year under the following terms and conditions:
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THEREFORE THE PARTIES AGREE AS FOLLOWS:
1. This Memorandum of Agreement is made upon and subject to the same terms and
conditions as set forth in the Lease including the rental rate which shall
be at THREE HUNDRED AND FIFTEEN DOLLARS ($315.00), plus G.S.T. and Q.S.T.
and any applicable taxes, gross per month, save and except for Lessee's
portion of the non-residential municipal surtax.
2. The term of the Lease which presently expires on the last day of February
1997 shall be extended from the first day of March 1997 and shall expire on
the last day of February, 1998, unless sooner terminated in the manner set
forth in the Lease;
3. The Lessee accepts the Leased Premises in the present state and condition.
4. Except as herein before specifically modified, supplemented and amended,
and as so modified, supplemented and amended, the Lease shall remain in
full force and effect.
5. The Parties have requested that this Memorandum of Agreement be prepared in
the English language. Les parties ont demande que la presente convention
soit redigee en anglais.
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IN WITNESS HEHREOF, THE LESSEE AND THE LESSOR HAVE DULY SIGNED AND EXECUTED
THESE PRESENTS ON THE DATE HEREINABOVE MENTIONED.
METRO II & III (G.P.)
Per: /s/ Xxxxxx Xxxxxxx /s/ Xxxxxx Xxxxxxxx
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Xxxxxx Xxxxxxx Witness
XXXXXXXX CANADA INC.
Per: /s/ Xxxxxx X. Xxxxxxxx /s/ Xxxxx Xxxxx
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Xxxxxx X. Xxxxxxxx Witness
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CERTIFIED EXTRACT FROM THE SIGNED RESOLUTIONS OF THE BOARD OF DIRECTORS OF
XXXXXXXX CANADA INC.
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BE IT RESOLVED
1. That Xx. Xxxxxx X. Xxxxxxxx be and is hereby authorized to sign the Amendment
of Lease between the Corporation and Metro II & III (G.P.) regarding he Leased
Premises located at 0000 Xxxxxxxxxxxx Xxxx, Xxxxx 0, in the City of St-Xxxxxxx,
Province of Quebec.
CERTIFIED TRUE COPY OF THE RESOLUTIONS OF THE BOARD OF DIRECTORS OF XXXXXXXX
CANADA INC. DULY ADOPTED AND REMAINING IN FULL FORCE AND EFFECT, UNAMENDED.
Montreal, this 29th day of January, 1997.
x /s/ Xxxxxx X. Xxxxxxxx
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Name: Xxxxxx X. Xxxxxxxx
Function: President
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