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Exhibit 10(d)
LEASE AMENDMENT II
THIS LEASE AMENDMENT (the "Amendment") is made as of the 5th day of
September, 1995 by and between Xxxxxxxxx Village Associates ("Landlord") and
Interstate General Company LP ("Tenant").
WITNESSETH:
WHEREAS, Landlord and Tenant entered into a lease for certain commercial
space in Xxxxxxxxx Xxxxxxx Xxxxxxxx Xxxxxx, Xx. Xxxxxxx, Xxxxxxxx dated June
15, 1981 (the "Lease"); and
WHEREAS, Lease was amended by Lease Amendment dated October 1, 1991, and
WHEREAS, Tenant requests two additional options to renew for five (5)
years each; and
WHEREAS, Landlord and Tenant wish to further amend the Lease to extend
lease through August 31, 2005.
NOW, THEREFORE, in consideration of the premises and the mutual covenants
and agreements contained herein, the parties agree as follows:
1. Landlord hereby extends lease agreement through August 31, 2005.
2. The following language shall be added to paragraph 39 of the lease
agreement:
"Landlord agrees that at Tenant's request, and so long as Tenant
is not in default under this Lease, Landlord shall assist Tenant
in attempting to locate subtenants for portion of the Demised
Premises."
3. The following language shall be added to paragraph 33 of the lease
agreement:
In addition, in the event of termination by Landlord as
aforesaid, if Landlord at its sole options so elects, Tenant
shall pay to Landlord, on demand, as liquidated, agreed final
damages, the following:
1. The difference between (i) the rent and all other charges
which would have been payable from the date of such demand to
the date when this Lease would have expired if it had not been
terminated as aforesaid, and (ii) the fair rental value of the
demised premises for the same period, with said difference being
discounted at the rate of six percent (6%) per annum to present
worth, and
2. Commissions, advertising, cost of repairs and other
expenses incidental to the reletting of the demised premises.
2
For purposes of the foregoing sentence, the term rent shall
include fixed minimum rental, Percentage Rent, additional rent,
and all other charges and pass-throughs provided herein. For
the purpose of computing Percentage Rent after a Default, the
monthly percentage rent shall be deemed to be equal to the
average monthly Percentage Rent paid hereunder for the twenty-
four (24) months during the term preceding such termination (or
for the entire preceding portion of the term if less than
twenty-four months).
4. Landlord hereby provides Tenant with two additional options to renew
for five (5) years each commencing September 1, 2005.
5. Except as specifically modified by this Amendment, the terms and
provisions of the Lease will continue in full force and effect.
IN WITNESS WHEREOF, the undersigned has duly executed this Amendment, or
caused this Amendment to be executed by their duly authorized representatives:
WITNESS:
/s/ Xxxx Xxxxxx By: /s/ Xxxxx Xxxxxxx Xxxxxx
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Xxxxxxxxx Village Associates
Interstate Business Corporation
General Partner
/s/ Xxxx Xxxxxx By: /s/ Xxxx X. Xxxx
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TENANT - Interstate General Company L.P.
State of Maryland
SS:
County of Xxxxxxx
Before me, a Notary Public in and for the jurisdiction aforesaid,
personally appeared this date Xxxxx Xxxxxxx Xxxxxx. Personally well known to
me to be the President of Interstate Business Corporation a Delaware
corporation, who being by me first duly sworn, did acknowledge that he/she, as
the duly authorized officer of said Corporation, executed the foregoing and
annexed instrument, in the name and on behalf of the Corporation, as its free
act and deed for the uses and purposes contained herein.
WITNESS my hand and official seal this 6th day of September, 1995.
/s/ Xxxxxx Xxxxx My Commission Expires Feb. 2, 1997
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Notary Public
