SIXTH LEASE MODIFICATION
Exhibit
10.59
SIXTH
LEASE MODIFICATION
THE
LEASE AGREEMENT,
dated
January 28, 2003, and modified thereafter, by and between AMERICAN
CENTER LLC (“Landlord”),
a Michigan Limited Liability Company, and
LDMI TELECOMMUNICATIONS INC.
(“Tenant”), a Michigan Corporation, for Suites
400, 500, 1660 & 1680 consisting
of 43,373 rentable square feet and
Storage Space #7 and #8 consisting
of 250 square feet (the “Premises” or “demised premises”) in the AMERICAN
CENTER (the
“Building”) 00000 Xxxxxxxx Xxxx, Xxxxxxxxxx, Xxxxxxxx 00000 (the “Project”) is
hereby modified as follows:
| 1. |
Satellite
Dish
-
Effective April 21, 2005, Tenant, at its sole expense has the right
to
erect, maintain and operate, one (1) additional two foot (2’) diameter
satellite dish on the roof of the Building (together with the one
(1)
existing satellite dish, the “Tenant Facilities”), under the same terms
and conditions as those prescribed in Section 1 of the Fourth Lease
Modification dated May 19, 2004.
|
| 2. |
The
Tenant Facilities shall be operated on a month-to-month basis during
the
term of the Lease and, commencing May 1, 2005, Tenant shall pay a
monthly
Base Rent of Three Hundred and 00/100 Dollars ($300.00) per satellite
dish.
|
| 3. |
The
monthly Base Rent shall be as
follows:
|
|
Date
|
Office
Space
|
Storage
Space
|
Tenant
Facilities
|
Monument
Signage
|
11
Designated Parking Spaces
|
Total
Monthly Base Rent
|
Total
Rent for the Period
|
|
5/1/05
- 5/31/05
|
$76,806.36
|
$239.58
|
$600.00
|
$250.00
|
$825.00
|
$78,720.94
|
$78,720.94
|
|
6/1/05
- 5/31/06
|
$78,613.57
|
$250.00
|
$600.00
|
$250.00
|
$825.00
|
$80,538.57
|
$966,462.84
|
|
6/1/06
- 5/31/07
|
$82,227.98
|
$260.42
|
$600.00
|
$250.00
|
$825.00
|
$84,163.40
|
$1,009,960.80
|
|
6/1/07
- 5/31/08
|
$84,035.19
|
$270.83
|
$600.00
|
$250.00
|
$825.00
|
$85,981.02
|
$1,031,772.24
|
|
6/1/08
- 5/31/09
|
$85,842.40
|
$281.25
|
$600.00
|
$250.00
|
$825.00
|
$87,798.65
|
$1,053,583.80
|
|
6/1/09
- 5/31/10
|
$87,649.61
|
$291.67
|
$600.00
|
$250.00
|
$825.00
|
$89,616.28
|
$1,075,395.36
|
|
6/1/10
- 5/31/11
|
$89,614.28
|
$302.08
|
$600.00
|
$250.00
|
$825.00
|
$91,591.36
|
$1,099,096.32
|
|
6/1/11
- 5/31/12
|
$91,264.03
|
$312.50
|
$600.00
|
$250.00
|
$825.00
|
$93,251.53
|
$1,119,018.36
|
|
6/1/12
- 5/31/13
|
$93,071.23
|
$322.92
|
$600.00
|
$250.00
|
$825.00
|
$95,069.15
|
$1,140,829.80
|
|
6/1/13
- 11/30/13
|
$93,071.23
|
$322.92
|
$600.00
|
$250.00
|
$825.00
|
$95,069.15
|
$570,414.90
|
|
|
|
|
|
|
|
Aggregate
|
$9,145,255.36
|
| 4. |
Non-Disclosure
- Tenant
will not record this Sixth Lease Modification or a memorandum hereof,
and
will not otherwise disclose the terms of this Sixth Lease Modification
to
anyone other than its attorneys, accountants or employees who need
to know
of its contents in order to perform their duties for Tenant. Any
other
disclosure will be an event of Default under the Lease. Tenant agrees
that
Landlord shall have the right to publish a "tombstone" or other
promotional description of this Sixth Lease
Modification.
|
[Signature
block on next page]
Except
as
hereinabove specifically provided to the contrary, all of the remaining terms,
covenants, and agreements contained in said Lease, and all modifications
thereafter, shall remain in full force and effect and shall be applicable to
the
Premises as described in said Lease is hereby acknowledged, ratified, and
confirmed by the parties hereto.
|
LANDLORD:
|
TENANT:
|
||||||
|
AMERICAN
CENTER LLC,
a
Michigan Limited Liability Company
|
LDMI
TELECOMMUNICATIONS, INC., a
Michigan Corporation
|
||||||
|
By:
Southfield
Office
Manager, Inc.
|
|||||||
|
By:
|
/s/ Xxxx Xxxxxxxxx |
By:
|
/s/ Xxxxxxx Xxxxxxx | ||||
|
Printed:
|
Xxxx
Xxxxxxxxx
|
Printed:
|
Xxxxxxx Xxxxxxx | ||||
|
Its:
|
Secretary
|
Its:
|
CFO | ||||
|
Date:
|
Date:
|
||||||
