FIRST AMENDMENT TO LEASE AGREEMENT EXHIBIT 10.12.2
This Amendment is made as of February 7, 1997, to that certain Lease
Agreement (the "Lease Agreement"), dated December 13, 1996, between Lithia
Properties, L.L.C., an Oregon limited liability company ("Landlord") and
Lithia Motors, Inc., an Oregon corporation ("Tenant") relating to the real
property located in Medford, Oregon, at the following addresses:
000 X. Xxxxxxx Xx. 000 X. 0xx Xx.
000 X. Xxxxxxx Xx. 000 X. Xxxxxxxx
000 X. Xxxxxxxx Xx.
Whereas Landlord and Tenant desire to modify certain provisions of the
Lease Agreement, and Section 13.16 of such Lease Agreement provides that any
change to the Lease Agreement must be in writing executed by the parties
thereto;
The undersigned Landlord and Tenant hereby agree as follows:
1. Section 1.3 of the Lease Agreement is amended to read as follows:
"EXPIRATION DATE. December 31, 2011."
2. Section 1.9 of the Lease Agreement is amended to read as follows:
"TERM. Fifteen-year period commencing on the Commencement
Date and expiring December 31, 2011, if not terminated
earlier pursuant to the terms of this Lease."
3. The last sentence of the first paragraph of Section 3.3 of the Lease
Agreement is amended to read:
"As soon as the monthly rent for the ensuing year is
established, Landlord shall give Tenant notice of the amount
of monthly rent therefor."
4. All other provisions of the Lease Agreement are hereby ratified and
confirmed and remain in full force and effect.
Landlord and Tenant have executed this First Amendment as of February 7,
1997.
Landlord: LITHIA PROPERTIES, L.L.C.
By /s/ Xxxxxx X. XxXxxx, Managing Member
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Tenant: LITHIA MOTORS, INC.
By /s/ Xxxxxx X. XxXxxx
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Its President
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