EXHIBIT 10.11
SECOND AMENDMENT TO LEASE
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THIS SECOND AMENDMENT TO LEASE ("Amendment") is made this 1st day of July,
1995 but effective the 1st day of July, 1995 by and between CHIPPEWA TRAIL
LODGE, INC., a Delaware corporation, whose address is 0000 X. Xxxxxxxx, Xxxxx
000, Xxxxxxxxxx Xxxxx, Xxxxxxxx 00000 ("Landlord"), and EXIDE CORPORATION, a
Delaware corporation, whose address is 0000 X. Xxxxxxxx, Xxxxx 000, Xxxxxxxxxx
Xxxxx, Xxxxxxxx 00000 ("Tenant").
R E C I T A L S :
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WHEREAS, Xxxxxx Xxxxx, as landlord, and the Tenant, as tenant, entered into
that certain Lease dated July 1, 1988, as amended by Amendment to Lease dated
October 24, 1988 (as amended, the "Lease"), for the lease of certain property
located in the Township of Xxxxxx, Antrim County, Michigan, as more particularly
described on Exhibit A attached hereto ("Premises");
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WHEREAS, Xxxxxx Xxxxx'x interest in the Lease, as landlord, was transferred
to Landlord pursuant to that certain Assignment of Lease dated October 24, 1988;
WHEREAS, Tenant requested, and Landlord agreed, to extend the term of the
Lease for an additional seven (7) year term commencing July 1, 1995; and
WHEREAS, Landlord and Tenant desire to amend the Lease as is more
particularly set forth herein.
NOW, THEREFORE, for good and valuable consideration, the receipt and
adequacy of which is hereby acknowledged, the parties hereby agree as follows:
1. The recitals set forth above are incorporated herein by reference and
shall form a part of this Amendment. Capitalized terms used herein shall have
the same meaning as in the Lease unless otherwise set forth herein.
2. All references in the Lease to the term "Lease" or "lease" shall mean
the Lease as amended by this Amendment.
3. Landlord and Tenant agree that the term of the Lease shall be extended
for an additional seven (7) year term, commencing July 1, 1995 through June 30,
2002 ("Additional Term"). The Tenant shall pay unto Landlord for the rent of
said Premises for said Additional Term the sum of $733,701.64 in lawful money of
the United States payable in quarterly installments in advance commencing on the
first day of July, 1995 and on the first day of each third month thereafter
throughout the entire Additional Term. Each quarterly rental payment shall be
in the amount of $26,203.63.
4. Except as amended hereby, the Lease is restated and republished in its
entirety and remains in full force and is hereby ratified and confirmed.
5. This Amendment shall be binding and upon and shall enure to the benefit
of the parties hereto in their respective successors and assigns.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date
and year first written above.
WITNESSES: CHIPPEWA TRIAL LODGE, INC.,
a Delaware corporation
/s/ Xxxxxx Ganetson
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Print name Xxxxxx Ganetson By: /s/ Xxxxxxx X. Xxxxxxx
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Print name Xxxxxxx X. Person
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/s/ Xxxxx Xxxxx Its: Vice President
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Print name Xxxxx Xxxxx
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"Landlord"
EXIDE CORPORATION,
a Delaware corporation
/s/ Xxxxxx X. Xxxxx
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Print name Xxxxxx X. Xxxxx By: /s/ Xxxxxxx X. Xxxxxx
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Print name Xxxxxxx X. Xxxxxx
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/s/ Xxxxxx X. Xxxxxxx Its: Vice President
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Print name Xxxxxx X. Xxxxxxx
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"Tenant"
Attachment: Exhibit A - Legal Description
2
July 19, 1983
EXHIBIT "A" 83-055
DESCRIPTIONS: Per abstract of title
The S1/2 of the SW1/4 of the NW1/4 of Xxxxxxx 00, X00X, X0X, Xxxxxx
Xxxxxx, Xxxxxxxx.
Commencing 1727 feet west of X0/0 Xxxx xx Xxxxxxx 00, X00X, X0X, running
thence West on quarter line about 801 feet to the shore of Elk Lake; thence
Southerly along the shore of Elk Lake to a point 255 feet South of said East and
West Quarter Line; thence East parallel with the East and West Quarter line to a
Point Due South of the place of beginning, thence North 255 feet to the Place of
Beginning.
A parcel of land described as Commencing at the E1/4 post of Xxxxxxx 00,
X00X, X0X and running thence West 2528 feet along the 1/4 line to Elk Lake;
thence South 15 degrees West along the lake shore 264 feet; thence East 2596
feet to the Section line; thence North 255 feet to the place of beginning, being
15 acres off Government Xxx 0, Xxxxxxx 00, XXXXXXXXX commencing 1727 feet West
of the E1/4 post of Section 11, T28N, R9W, running thence West on the 1/4 line
about 801 feet to the shore of Elk Lake; thence Southerly along the shore of Elk
Lake to a point 255 feet South of the E & W 1/4 line; thence East parallel with
the E & W 1/4 line to a point due South of the place of beginning; thence
North 255 feet to the place of beginning. ALSO EXCEPTING commencing at the E1/4
post of Xxxxxxx 00, X00X, X0X; and running thence West on the 1/4 line 460 feet;
thence South 235 feet; thence East 460 feet; thence North 235 feet to the Point
of Beginning. ALSO EXCEPTING commencing 235 feet South of E1/4 post of Xxxxxxx
00, X00X, X0X and running West from East 1/4 line 460 feet; thence South 20
feet; thence East 460 feet; thence North 20 feet to the Point of Beginning.
DESCRIPTION: per this survey (Note: Description per this survey is the same
property as that described in the abstract description) BEGINNING at the X0/0
Xxxxxx xx Xxxxxxx 00, X00X, X0X, Xxxxxx Xxxxxxxx, Xxxxxx County, Michigan;
thence N89 degrees 21 feet 44 inches W 460.00 feet; thence S00 degrees 35 feet
45 inches W 255.0 feet; thence N89 degrees 21 feet 44 inches W 2122.01 feet;
thence Northerly along the shore of Elk Lake in the following four (4) courses:
N18 degrees 56 feet 37 inches E 343.77 feet
N08 degrees 40 feet 14 inches W 321.80 feet
N04 degrees 39 feet 27 inches E 165.85 feet
N08 degrees 59 feet 31 inches W 109.54 feet
thence S89 degrees 24 feet 39 inches E 2532.11 feet; thence S89 degrees 00 feet
04 inches 1314.53 feet; thence S00 degrees 38 feet 12 inches W 664.65 feet;
thence N88 degrees 59 feet 43 inches W 1314.06 feet along the E-W 1/4 line of
Xxxxxxx 00, X00X, X0X to the Point of Beginning, being a part of the SW1/4 of
the NW1/4 of said Section 12 and a part of Government Xxxx 0 & 0, Xxxxxxx 00,
X00X, X0X, containing 70.41 acres of land more or less. Said property extends
to waters edge of Elk Lake with riparian rights thereon.
