Exhibit 10.18
Re: 00000 Xxxxxx Xxxxx
Xxxxxx 000 and 000
Xxxxxxx Xxxxxx, Xxxxx 00000
SECOND AMENDMENT TO LEASE
THE STATE OF TEXAS Section
Section KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF DALLAS Section
THIS SECOND AMENDMENT TO LEASE (this "Amendment") has been entered into as
of the 10th day of February 2003, by THE REALTY ASSOCIATES FUND VI, L.P., a
Delaware limited partnership ("Landlord") and COLLEGIATE PACIFIC, INC., a
Delaware corporation ("Tenant").
RECITALS:
A. Post-Valwood, Inc. ("Prior Landlord") and Tenant have heretofore
executed that certain Industrial Lease Agreement (the "Original Lease"), last
executed October 26, 2000, as amended by Modification and Ratification of Lease,
dated June 10, 2002, pursuant to which Tenant leased approximately 88,000 square
feet (the "Premises") in that certain building located at 00000 Xxxxxx Xxxxx,
Xxxxxx 000 and 000, Xxxxxxx Xxxxxx, Xxxxx 00000, and more particularly described
in the Lease. The Original Lease, as so amended, is referred to as the "Lease."
Unless otherwise defined herein, all initially capitalized terms will have the
respective meanings assigned thereto in the Lease.
B. Landlord has acquired the Building and succeeded to all of Prior
Landlord's interest as landlord under the Lease.
C. Landlord and Tenant desire to execute this Amendment in order to
evidence their agreement to (i) expand the Premises on a temporary basis; and
(ii) make certain other amendments to the Lease, all as more particularly set
forth in this Amendment.
NOW THEREFORE, in consideration of the foregoing and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Landlord and Tenant agree as follows:
Article I
CERTAIN AMENDMENTS
SECTION 1.01. Expansion Premises. Landlord and Tenant agree and acknowledge
that effective February 1, 2003, the Premises shall be expanded to include
approximately 28,000 square feet of space situated at 00000 Xxxxxx Xxxxx,
Xxxxxxx Xxxxxx, Xxxxx 00000, as shown in Exhibit A attached hereto, (the
"Expansion Premises"), for the purpose of storing two hundred (200) pallets.
SECOND AMENDMENT TO LEASE - Page 1 of 3
SECTION 1.02. Term. Landlord and Tenant agree that the lease term for the
Expansion Premises shall continue on a month to month basis until canceled by
either party with fifteen (15) days prior written notice to the other
("Expansion Premises Termination Date").
SECTION 1.03. Base Rent. In addition to Base Rent due under the Lease,
Landlord and Tenant agree that effective February 1, 2003, Tenant shall pay
additional Base Rent for the Expansion Premises in the amount of $1,000.00 per
month Gross inclusive of operating expenses and taxes. Notwithstanding the
foregoing, Tenant shall reimburse Landlord monthly for all electric and gas
utility costs.
SECTION 1.04. AS IS. Tenant will accept the Expansion Premises in its
current "as is" condition; Landlord will have no responsibility to make
improvements to the Expansion Premises during the lease term Upon the Expansion
Premises Expiration Date, Tenant shall return the Expansion Premises to its
original condition.
SECTION 1.05. Further Amendments. The Lease shall be and hereby is further
amended wherever necessary, even though not specifically referred to herein, in
order to give effect to the terms of this Amendment.
Article II
MISCELLANEOUS
SECTION 2.01. Ratification. The Lease, as amended hereby, is hereby
ratified, confirmed and deemed in full force and effect in accordance with its
terms. Each party represents to the other that such party (a) is currently
unaware of any default by the other party under the Lease; and (b) has full
power and authority to execute and deliver this Amendment and this Amendment
represents a valid and binding obligation of such party enforceable in
accordance with its terms.
SECTION 2.02. Notices. All notices to be delivered to Landlord under the
Lease or otherwise with respect to the Premises shall, unless Landlord otherwise
notifies Tenant, be delivered to Landlord in accordance with notice provisions
of the Lease at the following address:
c/o TA Associates Realty
00 Xxxxx Xxxxxx, 00xx Xxxxx
Xxxxxx, Xxxxxxxxxxxxx 00000
Attn.: Asset Manager - Texas Industrial
SECTION 2.03. Governing Law. This Amendment shall be governed by and
construed in accordance with the laws of the State of Texas.
SECTION 2.04. Counterparts. This Amendment may be executed in multiple
counterparts each of which is deemed an original but together constitute one and
the same instrument. This Amendment may be executed by facsimile and each party
has the right to rely upon a facsimile counterpart of this Amendment signed by
the other party to the same extent as if such party had received an original
counterpart.
SECTION 2.05. Calculation. Landlord and Tenant are knowledgeable and
experienced in commercial transactions and agree that the provisions set forth
in this Lease for determining charges, amounts and additional rent payable by
Tenant are commercially reasonable and valid even though such
SECOND AMENDMENT TO LEASE - Page 2 of 3
methods may not state a precise mathematical formula for determining such
charges. ACCORDINGLY, TENANT HEREBY VOLUNTARILY AND KNOWINGLY WAIVES ALL RIGHTS
AND BENEFITS OF TENANT UNDER SECTION 93.004 OF THE TEXAS PROPERTY CODE, AS SUCH
SECTION NOW EXISTS OR AS MAY BE HEREAFTER AMENDED OR SUCCEEDED.
IN WITNESS WHEREOF, this Amendment has been executed as of the date and
year first above written.
Dated: January 28, 2003 LANDLORD:
THE REALTY ASSOCIATES FUND VI, L.P.,
a Delaware limited partnership
By: Realty Associates Fund VI LLC,
a Massachusetts limited liability
company, general partner
By: Realty Associates Advisors LLC,
a Delaware limited liability
company, Manager
By: Realty Associates Advisors Trust,
a Massachusetts business trust,
sole member
By: /s/ Xxxxx X. Xxxxxx
-------------------------------
Officer
By: Realty Associates Fund VI Texas
Corporation, a Texas corporation,
general partner
By: /s/ Xxxxx X. Xxxxxx
---------------------------------------
Officer
Xxxxx X. Xxxxxx
Director of Asset Management
Date: January __, 2003 TENANT
COLLEGIATE PACIFIC, INC.,
a Delaware corporation
By: /s/ Art Coerver
-------------------------------------------
Name: ART COERVER
Title: COO
SECOND AMENDMENT TO LEASE - Page 3 of 3
EXHIBIT A
Expansion Premises
(FLOOR PLAN)
EXHIBIT A - Page 1 of 1
