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Exhibit 10(j)
MODIFICATION OF LEASE
AGREEMENT made this 1st day of March, 1995 by and between XXXX XXXXXX
XXXXXXXXXXX (hereafter referred to as "Landlord") and AMSCAN, INC. a New York
Corporation (hereinafter referred to as "Tenant").
W I T N E S S E T H:
WHEREAS, Landlord and Tenant are signatories to a lease agreement dated
December 7, 1984 for premises described on Schedule "A" hereto (hereinafter
referred to as the "Lease"); and
WHEREAS, Tenant has approached Landlord and has requested an extension
of the Lease term; and
WHEREAS, Landlord agrees to the extension as requested by Tenant
subject to the terms and conditions specified herein.
NOW, IN CONSIDERATION OF THE PREMISES AND PROMISES CONTAINED HEREIN, IT
IS MUTUALLY AGREED BETWEEN THE PARTIES AS FOLLOWS:
1. The Second Paragraph of the Lease is deleted and replaced
by the following:
"Term: The term shall be fifteen (15) years, commencing on
March 1, 1995."
2.Except as herein modified, all other terms, provisions and
conditions contained within this Lease, shall remain as stated in the Lease.
LANDLORD: XXXX XXXXXX XXXXXXXXXXX
/s/ XXXX XXXXXX XXXXXXXXXXX
-----------------------------------
XXXX XXXXXX XXXXXXXXXXX
TENANT: AMSCAN, INC.
By:/S/ XXXXXXX X. XXXXX
--------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Secretary
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DESCRIPTION OF PREMISES
The premises commonly known as 00000 Xxxxxx Xxxxxxxxxx Xxxx, Xxxxxx Xxxxxxxxxx,
Xxxxxxxxxx 00000, and more particularly described as Parcels 17, 18 and 19,
inclusive, and Parcel 22 of Parcel Map No. 12549, as shown by Parcel Map on file
in Book 74, Pages 84 through 89, inclusive, of Parcel Maps, Records of Riverside
County, California.
EXHIBIT "A"
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LEASE
This Lease is made December 7, 1984, between XXXX XXXXXX XXXXXXXXXXX,
referred to hereafter as "LANDLORD", and AMSCAN, INC., a New York corporation,
referred to hereafter as "TENANT".
R E C I T A L S
This Lease is made with reference to the following facts and
objectives:
A. Landlord is the owner of that certain Real Property
described in Exhibit "A", and is currently in the process of constructing
certain improvements thereon pursuant to the terms of that certain Construction
Agreement dated September 26, 1984 between XXXXXXX PROPERTIES CONSTRUCTION, as
General Contractor, and LANDLORD, as Owner. The Real Property and improvements
being constructed thereon are hereinafter referred to as the "Premises."
B. TENANT desires to lease from LANDLORD and LANDLORD desires
to lease to TENANT the Premises.
WHEREFORE, the parties hereto hereby covenant and agree as
follows:
1. Demise. LANDLORD leases to TENANT and TENANT leases from
LANDLORD the Premises.
2. Term. The term shall be ten (10) years, commencing on the
earlier of: (a) the first day of the month following the month in which a
Certificate of Occupancy with respect to the entirety of the Premises is issued,
(b) July 1, 1985
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(c) the date on which Tenant first occupies any portion of the Premises. The
parties shall execute an amendment to this Lease stating the exact commencement
date when the same has been ascertained.
3. Possession Prior to the Commencement of the Term. LANDLORD shall
notify TENANT of the expected date for substantial completion of the Premises at
least sixty (60) days before said date. Following such notification, TENANT
shall be entitled to enter upon the Premises for purposes of equipping and
fixturing the Premises so long as such entry does not interfere with LANDLORD or
Landlord's Contractor. If TENANT enters the Premises as provided in this
paragraph, all of the provisions of the Lease shall be in full force and effect
except the Rent Provision.
4. Monthly Rental.
(a) During the initial year of the term, TENANT shall pay to
LANDLORD as monthly rent, without deduction, setoff, prior notice, or demand,
the sum of Twenty-five Thousand Dollars ($25,000.00) per month in advance on the
first (1st) day of each month. Such rental shall be prorated for any partial
month which may exist at the commencement of the term.
(b) Beginning one (1) year following commencement of the term,
and continuing on each succeeding anniversary of the commencement of the term,
the monthly rental paid by TENANT shall be increased by Five (5%) percent over
the
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monthly rental paid by TENANT during the immediately preceding year of the term.
5. Personal Property Taxes. TENANT shall pay before delinquency all
taxes, assessments, license fees, and other charges (taxes) that are levied and
assessed against TENANT's personal property installed or located in or on the
Premises, and that become payable during the term. TENANT shall furnish LANDLORD
with satisfactory evidence of these payments.
6. Real Property Taxes. TENANT shall pay all real property taxes and
general and special assessments (real property taxes) levied and assessed
against the Premises. TENANT shall pay the real property taxes not later than
ten (10) days before the taxing authority's delinquency date and shall furnish
LANDLORD with satisfactory confirmation of such payment. TENANT's obligations to
pay real property taxes shall be prorated on the basis of a 365-day year to
account for any fractional portion of a fiscal tax year included in the term at
its commencement and expiration.
7. Substitute Taxes. If at any time during the term of the Lease the
laws concerning the methods of real property taxation prevailing at the
commencement of the term are changed so that a tax or excise on rents or any
other such tax, however described, is levied or assessed against LANDLORD as a
direct substitution in whole or in part for any real property taxes, TENANT
shall pay before delinquency (but only to the extent that it can be ascertained
that there has been a substitution and that as a result TENANT
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has been relieved from the payment of real property taxes it would otherwise
have been obliged to pay) the substitute tax or excise on rents. TENANT's share
of any tax or excise on rent shall be substantially the same as, and a
substitute for, the payment of such real property taxes as provided in this
Lease.
8. Use.
(a) TENANT shall use the Premises for purposes of operating a
paper products manufacturing and warehousing facility, and related purposes, and
for no other use without LANDLORD'S express written consent, which shall not be
unreasonable denied.
(b) TENANT shall not do, bring or keep anything on or about
the Premises that will cause a cancellation of any insurance covering the
Premises, or any portion thereof.
(c) TENANT shall comply with all laws, rules, regulations, and
ordinances adopted by any governmental or quasi-governmental entity having
jurisdiction concerning the premises or TENANT's use of the Premises.
9. Maintenance. TENANT, at its sole cost and expense, shall be
responsible for maintaining all portions of the Premises. TENANT expressly
waives the provisions of sections 1941 and 1942 of the Civil Code.
10. Alterations. TENANT shall not make any alterations to the Premises
without LANDLORD's consent, which shall not be unreasonably denied. Any
alterations made shall remain
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in and be surrendered with the Premises on expiration or termination of the
term. If TENANT makes any alterations to the Premises as provided above, the
alteration shall not be commenced until fifteen (15) days after LANDLORD has
received notice from TENANT stating the date that the installation of the
alteration is to commence so that LANDLORD can post and record an appropriate
Notice of Nonresponsibility.
11. Mechanic's Liens. TENANT shall pay all costs for construction done
by it or caused to be done by it on the Premises. TENANT shall keep the Premises
free and clear of all mechanic's liens resulting from construction done by or
for TENANT.
12. Utilities and Services. TENANT shall make all arrangements for and
pay for all utilities and services furnished to or used by it, including without
limitation, gas, electricity, water, telephone service, and trash collection,
and for all connection charges.
13. Indemnity and Exculpation; Insurance.
(a) LANDLORD shall not be liable to TENANT for any damage to
TENANT or TENANT's property from any cause. TENANT waives all claims against
LANDLORD for damage to person or property arising for any reason.
(b) TENANT shall defend, indemnify and hold LANDLORD harmless
from any and all costs or expenses, including reasonable attorneys' fees,
arising out of any
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damage to any person or property occurring in, on or about the Premises.
(c) TENANT, at TENANT's sole cost, shall maintain on all of
TENANT's personal property, TENANT's improvements and alterations in, on or
about the Premises, a policy of standard fire, flood and extended coverage
insurance with vandalism and malicious mischief endorsement to the extent of at
least One Hundred Percent (100%) of full replacement value. The proceeds from
any such policy shall be used by TENANT for the replacement of personal property
or the restoration of TENANT's improvements or alterations. Evidence of such
insurance shall be supplied to LANDLORD.
(d) TENANT, at TENANT's sole cost, shall maintain on the
Premises a policy of standard fire, flood and extended coverage insurance, with
vandalism and malicious mischief endorsements, to the extent of at least One
Hundred Percent (100%) of full replacement value. The insurance policy shall be
issued in the names of LANDLORD, LANDLORD's Lender and TENANT, as their
interests appear. The proceeds from any such policy shall be paid to and shall
belong to LANDLORD, but shall be made available to TENANT for utilization
pursuant to the terms of Paragraph 14 hereof. In case this Lease is terminated,
the insurance policy and all rights under it or the insurance proceeds shall be
assigned to LANDLORD at LANDLORD's election. Evidence of such insurance shall be
supplied to LANDLORD. The "Full Replace-
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ment Value" of the Premises shall be determined by the company issuing the fire
insurance policy at the time the policy is initially obtained. Not more
frequently than annually, either party shall have the right to notify the other
party that it elects to have the replacement value redetermined. Any such
redetermination shall be made promptly by the insurance company insuring the
Premises in accordance with the Rules and Practices of the Board of Fire
Underwriters, or a like board recognized and generally accepted by the insurance
company, and each party shall be promptly notified of the results by the
company. The fire insurance policy shall be adjusted according to the
redetermination made by the insurance company.
(e) TENANT, at its cost, shall maintain insurance insuring
that the monthly rent payable hereunder will be paid to LANDLORD for a period of
up to six (6) months in the event that the premises are destroyed or rendered
inaccessible by a risk insured against by policy of standard fire, flood and
extended coverage insurance, with vandalism and malicious mischief endorsements.
(f) TENANT, at TENANT's sole cost, shall maintain public
liability insurance insuring LANDLORD against damage for injuries occurring in
connection with the use of the premises in the amount of Five Million Dollars
($5,000,000.00) single limit coverage. Evidence of such insurance shall be
supplied to LANDLORD.
(g) All policies of insurance described herein shall:
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i. be issued by insurance companies auth-
orized to do business in the State of California,
with a financial rating of at least an A+ 4A Status
as rated in the most recent edition of Best's
Insurance Reports;
ii. be issued as a primary policy;
iii. contain an endorsement requiring not less than
thirty (30) days written notice from the insurance
company to LANDLORD before any cancellation,
expiration or modification in the coverage, scope or
amount of any policy.
14. Destruction.
(a) If, during the term hereof, the Premises or any part
thereof are totally or partially destroyed from any cause whatsoever, whether or
not covered by insurance carried pursuant to this Lease, rendering the Premises
totally or partially inaccessible or unusable, TENANT shall restore the Premises
to substantially the same condition as they were in immediately before
destruction within six (6) months from the date of such destruction. Such
destruction shall not terminate this Lease. Tenant shall be entitled to utilize
the proceeds of any insurance carried pursuant to the terms of this Lease for
such purposes.
(b) TENANT waives the provisions of Civil Code Section
1932(2), and Civil Code Section 1933(4), with respect to any destruction of the
Premises.
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15. Condemnation.
(a) Definitions.
i. "Condemnation" means (a) the exercise of any governmental
power whether by legal proceedings or otherwise by a condemnor
or (b) a voluntary sale or transfer by LANDLORD to a condemnor
while any proceedings for condemnation are pending.
ii. "Date of Taking" means the date the condemnor has the
right to possession of the property being condemned.
iii. "Award" means all compensation, sums or anything of value
awarded, paid or received on a total or partial condemnation.
iv. "Condemnor" means any public or quasi-public authority or
private corporation or individual having the power of
condemnation.
(b) If, during the term hereof, there is any taking of all or
any part of the building, other improvements or land constituting the Premises
or any interest in this Lease, by condemnation, the rights and obligations of
the parties shall be determined as provided herein.
(c) If the Premises are totally taken by condemnation, this
Lease shall terminate on the date of taking.
(d) If any portion of the Premises is taken by condemnation,
this Lease shall remain in effect, except that TENANT may elect to terminate
this Lease if Fifty Percent (50%) or more of the total number of square feet in
the Premises are taken. If TENANT elects to terminate this Lease, TENANT must
exercise TENANT's right to terminate pursuant to this paragraph by giving
written notice to
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LANDLORD within thirty (30) days after the nature and the extent of the taking
have been finally determined. TENANT shall also notify LANDLORD of the date of
termination, which date shall not be earlier than thirty (30) days nor more than
ninety (90) days after the date that TENANT has notified LANDLORD of TENANT's
election to terminate; except that this Lease shall terminate on the date of
taking if the date of taking falls on a date before the date of termination as
designated by TENANT. If TENANT does not terminate this Lease within the
aforesaid period, this Lease shall continue in full force and effect.
(e) If any portion of the Premises is taken by condemnation
and this Lease remains in full force and effect, then on the date of taking, the
rental shall be reduced by an amount that is in the same ratio to the unreduced
rental as the total number of gross square feet in the building area of the
Premises taken bears to the total number of gross square feet in the building
area of the Premises immediately before the date of taking.
(f) If there is a partial taking of the Premises and this
Lease remains in full force and effect, LANDLORD, at LANDLORD's option, may
restore the Premises. In the event that LANDLORD elects to restore the Premises,
the reduction in rental provided under subparagraph (e.) hereof shall terminate
as of the date of completion of restoration.
(g) The award shall belong to and be paid
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entirely to LANDLORD, except that TENANT shall receive from the award any sum
attributable by the award to the taking of personal property located on the
Premises and belonging to TENANT.
16. Assignment. TENANT shall not assign or encumber TENANT's
interest in this Lease or in the Premises, or sublease all or any part of the
Premises, or allow any other person or entity (except TENANT's authorized
representatives) to occupy or use all or any part of the Premises, without
obtaining LANDLORD's express written consent. Any assignment, encumbrance or
sublease without LANDLORD's consent shall be voidable and, at LANDLORD's
election, shall constitute a default. No consent to any assignment, encumbrance
or sublease shall constitute a further waiver of the provisions of this
paragraph.
17. Default.
(a) The occurrence of any one of the following shall
constitute a default by TENANT:
(i) Failure to pay rent when due;
(ii) Failure to perform any other provisions of this
Lease if the failure to perform is not cured within ten (10)
days after notice has been given to TENANT. If the default
cannot reasonably be cured within ten (10) days, TENANT
shall not be in default of this Lease if TENANT commences to
cure the default within the ten (10) day period and
diligently and in good faith continues to cure the default
until cure is accomplished.
(iii) The Levy of a Writ of Attachment or execution
on this Lease, the Premises or any portion thereof which is
not released (by bond or otherwise) within fifteen (15) days.
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(iv) The appointment of a receiver with authority to
take possession of the Premises or any part thereof, in a
proceeding or action to which TENANT is a party.
Notices given under this paragraph shall specify the alleged default
and the applicable Lease provisions and shall demand that TENANT perform the
provisions of this Lease or pay the rent that is in arrears, as the case may be,
within the applicable period of time, or quit the Premises. No such notice shall
be deemed a forfeiture or a termination of this Lease unless LANDLORD so elects
in the notice.
(b) In the event that TENANT defaults under this Lease,
LANDLORD shall have all rights and remedies available to LANDLORD under law and
the exercise by LANDLORD of one right or remedy shall not preclude the exercise
by LANDLORD of any other right or remedy.
(c) In the event of any default by TENANT, then LANDLORD, in
addition to any other rights or remedies he may have, shall have the immediate
right of re-entry and may remove all persons and property from the Premises.
(d) If TENANT defaults and abandons the Premises before the
end of the term, or if TENANT's right to possession is terminated by LANDLORD
because of a default, then in either such case, LANDLORD may recover from TENANT
all damages suffered by LANDLORD as the result of TENANT's failure to perform
TENANT's obligations hereunder, including but not restricted to, the worth at
the time of the award of the amount by which the rent then unpaid hereunder
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for the balance of the Lease term exceeds the amount of such rental loss for the
same period which TENANT proves could be reasonably avoided by LANDLORD.
18. LANDLORD's Entry on Premises. LANDLORD, or LANDLORD's authorized
representatives, shall have the right to enter the Premises at all reasonable
times for any reasonable purpose.
19. Subordination. This Lease is and shall be subordinate to any
encumbrance now of record or recorded after the date of this Lease affecting the
building, other improvements, and land constituting the Premises. Such
subordination is effective without any further act of TENANT. TENANT shall from
time to time, upon request from LANDLORD, execute and deliver any documents or
instruments that may be required by lender to effect any subordination. If
TENANT fails to execute and deliver any such documents or instruments, TENANT
irrevocably constitutes and appoints LANDLORD as TENANT's special
attorney-in-fact to execute and deliver any such documents or instruments.
20. Notice. Any notice, demand, request, consent, approval or
communication that either party desires or is required to give to the other
party, or any other person, shall be in writing and either served personally or
sent by prepaid first-class mail. Any such notice, demand, request, consent,
approval or communication shall be addressed to the other party at the address
set forth below. Either party may change its address by notifying the other
party of the
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change of address. Notice shall be deemed communicated within forty-eight (48)
hours from the time of mailing if mailed as provided in this paragraph.
LANDLORD: TENANT:
-------- -------
XXXX XXXXXX XXXXXXXXXXX AMSCAN, INC.
c/o AMSCAN, INC. X.X. Xxx 000
P.O. Box 000 Xxxxx Xxxx
Xxxxx Xxxx Xxxxxxxx, Xxx Xxxx 00000
Xxxxxxxx, Xxx Xxxx 00000
21. Waiver. No delay or omission in the exercise of any right or remedy
of LANDLORD with respect to any default by TENANT shall impair such a right or
remedy or be construed as a waiver. The receipt and acceptance by LANDLORD of
delinquent rent shall not constitute a waiver of any other default, but shall
constitute only a waiver of timely payment for the particular rent payment
accepted. LANDLORD's consent to or approval of any act by TENANT requiring
LANDLORD's consent to or approval shall not constitute payment to or approval of
any subsequent act of TENANT. Any waiver by LANDLORD of any default must be in
writing and shall not be a waiver of any other default concerning the same or
any other provision of the Lease.
22. Attorneys' Fees. If either party becomes a party to any litigation
concerning this Lease, the Premises, the building or other improvements on the
Premises or the land constituting a part of the Premises, by reason of any act
or omission of the other party or its authorized representatives, and not by any
act or omission of the party that becomes a party to that litigation or any act
or omission of its
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authorized representatives, then the party that causes the other party to become
involved in the litigation shall be liable to that party for reasonable
attorneys' fees and costs incurred by it in litigation.
If either party commences an action against the other party arising out
of or in connection with this Lease, the prevailing party shall be entitled to
have and recover from the losing party reasonable attorneys' fees and costs of
suit.
23. Surrender of Premises. On expiration of this Lease, TENANT shall
surrender to LANDLORD the Premises and all TENANT's improvements and alterations
in good condition, reasonable wear and tear excepted. If TENANT fails to
surrender the Premises to LANDLORD as aforesaid, TENANT shall hold LANDLORD
harmless from all damages resulting from TENANT's failure to surrender the
Premises, including without limitation, claims made by a succeeding tenant
resulting from TENANT's failure to surrender the Premises.
24. Time of Essence. Time is of the essence of each provision of this
Lease; all provisions relating to time shall be strictly construed.
25. Successors. This Lease shall be binding on and inure to the benefit
of the parties and their successors; provided, however, that this provision is
expressly subject to the prohibition against assignment and subleasing contained
herein.
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26. Integration. This Lease contains all of the agreements of the
parties. No party has entered into this Lease in reliance upon any
representation not contained herein.
27. Captions. The captions of this Lease shall have no effect on its
interpretation.
28. Joint and Several Obligations. "Party" shall mean LANDLORD or
TENANT. If more than one person or entity is LANDLORD or TENANT, the obligations
imposed on that party shall be joint and several.
29. Industrial Development Bond. Tenant understands that the Premises
have been constructed by means of a loan ("Loan") funded pursuant to the sale by
the Riverside County Industrial Development Authority ("Authority") of its
Industrial Development Bond, Issue A of 1984 (Amscan, Inc. Project) ("Bond") and
that such Bond is secured by a mortgage to the Authority which has been assigned
to The Chase Manhattan Bank, N.A. ("Bank"). TENANT agrees to perform the
following throughout the life of the Loan:
(a) It shall not assign or sublet or transfer the whole or any
part of the Premises or abandon the same or lease, surrender or otherwise
dispose of any other use or possessory interest in the whole or part of the
Premises to any person, firm or corporation without the prior written consent of
the Authority, the Bank and the Lessor.
(b) It shall be the principal user of the Premises,
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and shall not suffer or permit any other person to constitute a principal user
of the Premises without the prior written consent of the Authority and the Bank.
(c) It shall take no action which will cause the interest on
the Bond to become subject to federal and California personal income taxation.
(d) As of the date of the issue of the Bond, it shall furnish
the Lessor and the Authority with a schedule listing any and all "capital
expenditures" with respect to the Premises paid or incurred during the three
year period before the date of issue of the Bond. Additionally, it shall furnish
the Lessor and the Authority with such a schedule for each three successive
twelve month period after such date of issue.
(e) It shall cause to be filed any and all reports or returns
as required by the Treasury regulations governing the issuance of industrial
development bonds.
(f) For the six year period commencing December 11, 1981 and
terminating December 11, 1987, it, or any party related to it, has not and shall
not incur any capital expenditures made by the Lessor, and any related party
thereto in the County of Riverside causes the total amount of the combined
capital expenditures of all said parties to exceed $10,000,000.
(g) It shall advise Lessor of any other lease it
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enters into for premises located in the County of Riverside.
EXECUTED the day and year first above written at Westchester, New York.
LANDLORD: TENANT:
AMSCAN, INC., A
New York
Corporation.
/s/ XXXX XXXXXX XXXXXXXXXXX By:/s/ XXXXXX XXXXXXXXXXX
---------------------------- ----------------------------
XXXX XXXXXX XXXXXXXXXXX Its Secretary
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DESCRIPTION OF PREMISES
The premises commonly known as 00000 Xxxxxx Xxxxxxxxxx Xxxx, Xxxxxx Xxxxxxxxxx,
Xxxxxxxxxx 00000, and more particularly described as Parcels 17, 18 and 19,
inclusive, and Parcel 22 of Parcel Map No. 12549, as shown by Parcel Map on file
in Book 74, Pages 84 through 89, inclusive, of Parcel Maps , Records of
Riverside County, California.
EXHIBIT "A"
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RECORDING REQUESTED BY
AND WHEN RECORDED MAIL
TO:
MEMORANDUM OF LEASE
This Memorandum of Lease is made and entered into by and between XXXX
XXXXXX XXXXXXXXXXX, hereinafter referred to as "LANDLORD", and AMSCAN, INC., a
New York corporation, hereinafter referred to as "TENANT", to witness that:
LANDLORD hereby leases to TENANT for a term of ten (10) years,
commencing on the earlier of: (a) the first day of the month following the month
in which a Certificate of Occupancy with respect to the entirety of the Premises
is issued, (b) July 1, 1985, or (c) the date on which TENANT first occupies any
portion of the Premises, on the terms and conditions set forth in that certain
Lease by and between the parties hereto dated December 7, 1984, all the terms
and conditions of which Lease are made a part hereof as though fully set forth
herein, all those certain premises in the County of Riverside, State of
California, described in Exhibit "A" which is attached hereto and incorporated
herein by this reference, including any improvements to be constructed thereon.
EXECUTED on the 7 day of December, 1984 at Westchester, New York.
LANDLORD:
/s/ XXXX XXXXXX XXXXXXXXXXX
-----------------------------
XXXX XXXXXX XXXXXXXXXXX
TENANT: AMSCAN, INC., a New York corporation,
By /s/ XXXXXX XXXXXXXXXXX
--------------------------
Its Secretary
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STATE OF NEW YORK )
) ss.
COUNTY OF WESTCHESTER )
On December 7, 1984, before me, the undersigned, a Notary Public in and
for said State, personally appeared XXXX XXXXXX XXXXXXXXXXX known to me to be
the person whose name is subscribed to the within instrument, and acknowledged
to me that he executed the same.
WITNESS my hand and official seal.
/s/ XXXX X. LEVER
---------------------------------
Notary Public in and for said
State.
STATE OF NEW YORK )
) ss
COUNTY OF Westchester )
On December 7, 1984, before me, the undersigned, a Notary Public in and
for said State, personally appeared XXXXXX XXXXXXXXXXX, known to me to be the
Secretary of AMSCAN, INC., a New York corporation, the corporation that executed
the within instrument, known to me to be the person who executed the within
instrument, on behalf of the corporation therein named, and acknowledged to me
that such corporation executed the same.
WITNESS my hand and official seal.
/s/ XXXX X. LEVER
--------------------------------
Notary Public in and for said
State.
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DESCRIPTION OF PREMISES
The premises commonly known as 00000 Xxxxxx Xxxxxxxxxx Xxxx, Xxxxxx Xxxxxxxxxx,
Xxxxxxxxxx 00000, and more particularly described as Parcels 17, 18 and 19,
inclusive, and Parcel 22 of Parcel Map No. 12549, as shown by Parcel Map on file
in Book 74, Pages 84 through 89, inclusive, of Parcel Maps, Records of Riverside
County, California.
EXHIBIT "A"
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AMENDMENT TO LEASE
Whereas: Xxxx Xxxxxx Xxxxxxxxxxx and Amscan Inc. are the Landlord and Tenant,
respectively, in a lease (the "Lease") for the rental of property at 00000
Xxxxxx Xxxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxxxx 00000, dated December 7, 1984, and
extended by modification dated March 1, 1995;
Whereas: The Term of the Lease is 15 years, terminating on February 28, 2010;
Whereas: The parties desire to amend the Term of the Lease;
Now Therefore: For good and valuable consideration, the sufficiency and receipt
of which are hereby acknowledged, the undersigned, by their signatures below,
agree that the Lease is hereby amended as follows:
The Term of the Lease is changed to Five Years. The Expiration Date is
changed to February 28, 2000.
Tenant is granted an Option to Renew for Five Years at Market Rental,
with additional options to renew at market rental for one period of five years.
Landlord: Tenant:
Xxxx Xxxxxx Xxxxxxxxxxx Amscan, Inc.
/s/ XXXX X. XXXXXX
------------------------- -------------------------------------
Xxxx X. Xxxxxx, its Vice President
