SECOND AMENDMENT TO LEASE
I. PARTIES AND DATE
This Second Amendment to Lease ("Amendment"), dated May 15, 1998, by and
between 100 Xxxx Corporation ("Landlord") and BF Enterprises, Inc.
("Tenant")
II. RECITALS
Landlord and Tenant are parties to a lease dated as of March 26, 1990,
as amended by an amendment dated January 19, 1995 ("Lease"), for the
premises ("Premises") located at 000 Xxxx Xxxxxx, Xxxxx 0000, Xxx
Xxxxxxxxx, Xxxxxxxxxx, in the property commonly known as the Xxxxx
Xxxxxxxx, Xxx Xxxxxxxxx, XX 00000.
Landlord and Tenant desire to modify the Lease in the matter provided in
Section V below as "Modifications," which modifications shall be deemed
effective on the date of this amendment as indicated above.
III. GENERAL
A. Effect of Amendments. Except to the extent the Lease is modified by this
Amendment, or by the March 1990 amendment, the remaining terms and
provisions of the Lease shall remain unmodified and in full force and
effect.
B. Entire Agreement. This Amendment embodies the entire understanding
between Landlord and Tenant with respect to its subject matter and can be
changed only by an instrument in writing signed by Landlord and Tenant.
C. Counterparts. If this Amendment is executed in counterparts, each
counterpart shall be deemed an original, and all counterparts shall
constitute one agreement.
D. Defined Terms. All words commencing with initial capital letters in this
Amendment and not defined in. this Amendment, but defined in the Lease,
shall have the same meaning in this Amendment as in the Lease.
E. Corporate and Partnership Authority. If Tenant is a corporation or
partnership, or is comprised of either or both of them, each individual
executing this Amendment for the corporation or partnership represents
that he or she is duly authorized to execute and deliver this Amendment
for the corporation or partnership and that this Amendment is binding upon
the corporation or partnership in accordance with its terms.
P. Attorneys' Fees. In the event that either Landlord or Tenant shall
institute any action or proceeding against the other relating to the
provisions of this Amendment or the Lease or any default thereunder, the
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party not prevailing in such action or proceeding shall reimburse the
prevailing party for its actual reasonable attorneys' fees, and all fees,
costs and expenses reasonably incurred in connection with such action or
proceedings including, without limitation, any post-judgment fees, costs
or expenses incurred on any appeal or in collection of any judgment,
IV. MODIFICATIONS
A. Term. The term of the Lease currently expires on January 31, 1999. Article
I Lease is hereby amended to provide for a Second extension of the term of
the for a period of five (5) years (Second Extended Term), commencing
February 1, 1999 and expiring January 31, 2004 unless sooner terminated in
accordance with the Lease.
B. Base Rent. Article 2 of the Lease is hereby amended by adding thereto the
following:
Base Rent During the Second Extended Term:
Dollars per square foot per annum: $32.00
Dollars per annum: $71,712.00
Dollars per month: $5,976.00
C. Base Year. Article 3 of the Lease is hereby amended by adding thereto the
following:
Effective during the Second Extended Term, the Base Year shall be:
(A) Base Tax Year: Calendar year 1999.
(B) Base Expense Year: Calendar year 1999.
D. During the balance of the Extended Term and Second Extended Term, the
Tenant's pro-rata share of operating expenses and like charges shall not
increase above the current 1.1042% of the total building, and for the
purposes of rent calculation, the Premises shall remain at 2,241 square
feet.
LANDLORD TENANT
100 Xxxx Corporation, BF Enterprises, Inc.,
a California corporation a Delaware corporation
By: /s/ X.X. Xxxx By: /s/ Xxxxx X. Xxxxx
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Its: President Its: Chairman
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