AMENDMENT TO LEASE
THIS AMENDMENT is made and entered into effective as of the 9th day of
December, 1997, by and between T & J INVESTMENT CO., a Kansas general
partnership (hereinafter referred to as "Lessor") and ELECTRONIC PROCESSING,
INC., a Missouri corporation (hereinafter referred to as "Lessee").
WITNESSETH:
WHEREAS, Lessor and Lessee entered into that certain Lease, dated
February 20, 1996 (the "Lease"), pursuant to which Lessee agreed to lease
from Lessor certain real estate and buildings and improvements constructed
thereon as more fully described in Exhibit A of the Lease;
WHEREAS, Lessor and Lessee desire to amend the terms of the Lease as set
forth herein;
NOW, THEREFORE, in consideration of the agreements herein contained, it
is hereby mutually agreed by the parties as follows:
1. OPTION TO EXTEND. The parties agree that Section 3 of the Lease is
deleted, and the following is hereby substituted in its place:
"3. OPTION TO EXTEND.
(a) First Option to Extend. Provided that no default then
exists with respect to the Lessee's obligations hereunder, the Lessee
shall have an option to extend this Lease at the end of the original
term hereof upon the terms and conditions set forth herein for an
additional period of five (5) years, with such extended period
commencing March 1, 2001 and continuing up to and until February 28,
2006. Such option is to be exercised in writing by the Lessee not
later than six (6) months prior to the expiration of the original
term.
(b) Second Option to Extend. Provided that the Lessee shall have
timely exercised its first option to extend the term of this Lease and
further provided that no default then exists with respect to the
Lessee's obligations hereunder, the Lessee shall have a second option
to extend this Lease at the end of the first extended term hereof upon
the terms and conditions set forth herein for an additional period of
five (5) years, with such extended term commencing March 1, 2006 and
continuing up to and until February 28, 2011. Such option is to be
exercised in writing by the Lessee not later than six (6) months prior
to the expiration of the first extended term."
2. RENT. The parties agree that Section 5 of the Lease is deleted, and
the following is hereby substituted in its place:
"5. RENTAL. As rental for the Premises (the "Rental"), the Lessee
shall pay to the Lessor monthly rental due in advance on the first day
of each month in the amount of Twelve Thousand One Hundred Twenty-Five
and 00/100 Dollars ($12,125.00) for the period beginning March 1, 1996
and ending February 28, 1997. For the period beginning March 1, 1997
and ending February 28, 1998, the Rental shall be Twelve Thousand Five
Hundred and 00/100 Dollars ($12,500.00) per month. For the period
beginning March 1, 1998 and ending February 28, 1999, the Rental shall
be Twelve Thousand Nine Hundred and 00/100 Dollars ($12,900.00) per
month. For the period beginning March 1, 1999 and ending February 29,
2000, the Rental shall be Thirteen Thousand Two Hundred and 00/100
Dollars ($13,200.00) per month. For the period beginning March 1, 2000
and ending February 28, 2001, the Rental shall be Thirteen Thousand Six
Hundred and 00/100 Dollars ($13,600.00) per month.
In the event that the Lessee shall exercise its first option to extend
the term of this Lease under paragraph 3(a), the Rental for the period
beginning March 1, 2001 and ending February 28, 2002 shall be Fourteen
Thousand and 00/100 Dollars ($14,000.00) per month. For the period
beginning March 1, 2002 and ending February 28, 2003, the Rental shall
be Fourteen Thousand Five Hundred and 00/100 Dollars ($14,500.00) per
month. For the period beginning March 1, 2003 and ending February 29,
2004, the Rental shall be Fourteen Thousand Nine Hundred and 00/100
Dollars ($14,900.00) per month. For the period beginning March 1, 2004
and ending February 28, 2005, the Rental shall be Fifteen Thousand Four
Hundred and 00/100 Dollars ($15,400.00) per month. For the period
beginning March 1, 2005 and ending February 28, 2006, the Rental shall
be Fifteen Thousand Eight Hundred and 00/100 Dollars ($15,800.00) per
month.
In the event that the Lessee shall exercise its second option to extend
the term of this Lease under paragraph 3(b), the Rental for the period
beginning March 1, 2006 and ending February 28, 2007 shall be Sixteen
Thousand Two Hundred and 00/100 Dollars ($16,200.00) per month. For the
period beginning March 1, 2007 and ending February 29, 2008, the Rental
shall be Sixteen Thousand Six Hundred and 00/100 Dollars ($16,600.00)
per month. For the period beginning March 1, 2008 and ending February
28, 2009, the Rental shall be Seventeen Thousand and 00/100 Dollars
($17,000.00) per month. For the period beginning March 1, 2009 and
ending February 28, 2010, the Rental shall be Seventeen Thousand Four
Hundred and 00/100 Dollars ($17,400.00) per month. For the period
beginning March 1, 2010 and ending February 28, 2011, the Rental shall
be Seventeen Thousand Eight Hundred and 00/100 Dollars ($17,800.00) per
month.
Lessee shall also pay any additional rental as required hereunder."
3. REMAINING TERMS UNAFFECTED. Except as specifically amended herein,
all remaining terms, conditions, covenants and agreements contained in the
Lease remain in full force and effect, and the parties remain obligated to
perform the same.
-2-
IN WITNESS WHEREOF, the parties hereto have executed this Amendment in
multiple counterparts, each of which shall be considered an original, as of the
day and year first above written.
ELECTRONIC PROCESSING, INC. T & J INVESTMENT CO.
"Lessee" "Lessor"
By: Xxx Xxxxxxx By: Xxx X. Xxxxxxx
------------------------- -------------------------
Xxx Xxxxxxx, C.E.O. Xxx X. Xxxxxxx, General Partner
By: Xxxxx X. Xxxxx
------------------------
Xxxxx X. Xxxxx, General Partner
-3-
