EXHIBIT 10.8
LEASE AMENDMENT NUMBER ONE
This Lease Amendment Number One (the "Amendment") is entered into this
1st day of May, 2002 by and between SKY HARBOR ASSOCIATES LIMITED PARTNERSHIP, a
Michigan limited partnership, whose address is 00 Xxxx Xxxx Xxxx Xxxx,
Xxxxxxxxxx Xxxxx, Xxxxxxxx 00000 ("Landlord"); and CET ENVIRONMENTAL SERVICES,
INC., a California corporation whose address is 0000 Xxxxx Xxxxxx Xxxxxxx,
Xxxxxxxxx, XX 00000 ("Tenant").
The facts upon which this Amendment is based are:
A. Landlord and Tenant entered into a certain Lease Agreement dated
March 1, 1999, for the premises located at 0000 Xxxxx Xxxxxx
Xxxxxxx (the "Original Premises"), Xxxxxxxxx, Xxxxxxxx 00000.
That Lease Agreement, including all addenda, exhibits, riders,
attachments, and amendments thereto shall hereafter be referred
to as the "Lease";
B. To date, Tenant has remained in occupancy of the Premises; and
C. Landlord and Tenant desire to amend the Lease in order to provide
for, among other things, the further extension of the Lease Term,
the increase in the base rental rates, the reduction of the
square footage and the construction of certain tenant
improvements for the Premises, but all only in accordance with
and subject to the terms and conditions of this Amendment.
NOW, THEREFORE, in consideration of the mutual covenants and conditions
contained herein, and for other good and valuable consideration, the receipt and
sufficiency of which is hereby mutually acknowledged, the parties hereby agree
as follows:
1. Incorporation of Recitals. The recitals contained in Paragraphs A through
C above, both inclusive, are incorporated herein and made a part of this
Amendment.
2. Defined Terms. Terms used herein shall have the same meaning as defined
in the Lease, unless otherwise defined herein. The following specific new
terms are hereby enumerated:
"New Commencement Date" as used herein shall mean June 1,2002..
"New Expiration Date" as used herein shall mean May 31, 2005..
"Original Premises" as used herein shall mean the original 12,000
square feet which comprise the entire rentable square feet in Building
7032.
"Premises" as used herein shall mean the reduced premises of
approximately 6,000 square feet that comprise the southern half of Building 7032
as cross hatched on Exhibit A.
3. Tenant Improvements. Landlord shall provide those improvements to the
Premises as indicated below with the location of the improvements to be
mutually determined and acceptable by Tenant and Landlord. Landlord shall
be responsible for the initial $4,000 (Four Thousand and 00/lOO Dollars)
of Tenant Improvements costs. Any costs incurred, either soft or hard,
including, but not limited to architectural fees, engineering fees,
construction management, actual costs of construction, materials and
labor, which shall exceed $4,000 shall be the mutual and equitable
responsibility of Tenant and Landlord.
a) A warehouse demising fire wall.
b) Installation of two fire doors.
c) A fire wall closure in the front hall.
d) Tenant, at its expense, agrees to provide the
refrigerator and microwave for the common area
kitchen and shall provide janitorial service for
the common area kitchen, hall and restrooms
(until such time as another tenant occupies the
south end of building 7032 and can share in the
janitorial expense.
e) And such other improvements that may be required
either by the appropriate governing entity or the
Landlord.
4. Base Rent. Commencing on the New Commencement Date, Tenant shall pay to
Landlord Base Rent in monthly installments in advance on the first day of
each calendar month during the Term, as follows:
06/01/02 - 05/31/03 $7.67 PSF/NNN $3,835.00 Monthly $46,020.00 Annually
06/01/03 - 05/31/04 $7.92 PSF/NNN $3,960.00 Monthly $47,520.00 Annually
06/01/04 - 05/31/05 $8.17 PSF/NNN $4,085.00 Monthly $49,020.00 Annually
Tenant shall continue to be responsible for Tenant's proportionate share of
taxes, insurance and common area maintenance as enumerated in the Lease.
5. Utilities. Tenant shall promptly pay its proportionate share of the utility
costs, to include gas and electricity, based on Tenant's historical
use/consumption of such services over the entire Original Premises, then
reduced by one-half. Landlord shall be responsible for the utility costs in
the vacated portion of Building 7032 until such time as another tenant
shall occupy the south end of Building 7032 and assume that responsibility.
6. Incorporation of Lease Terms. With the exception of the foregoing
provisions of this Amendment, Tenant and Landlord shall be subject to all
terms, covenants and conditions of the Lease, and the same shall remain in
full force and effect as therein stated. In the event of any express
conflict or inconsistency between the terms of this Amendment and the terms
of the Lease, the terms of this Amendment shall prevail.
7. Ratification: Except as expressly modified by this Amendment, all other
terms and conditions of the Lease are hereby expressly approved, ratified
and affirmed.
Intending to be legally bound, the parties have signed this Amendment
upon the date first written above.
LANDLORD TENANT
SKY HARBOR ASSOCIATES CET ENVIRONMENTAL
LIMITED PARTNERSHIP SERVICES, INC
By: Diversified Development Corporation, By:
its General Partner -----------------------------------
Xxxx X. Xxxxx
By: Its:
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Xxxxx X. Xxxxxxx, President CFO
Date: Date:
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