[THE MERIDIAN REALTY GROUP LETTERHEAD]
AGREEMENT TO LEASE
This writing shall serve as an agreement between Xxxx Motion Controls, Inc.,
0000 Xxxxxxxx Xxxx, Xxxxxxx-Xxxxx, Xxxxx Xxxxxxxx 00000, Lessee, and Xxxxxxx X.
Xxxx, authorized as Lessor, c/o Xx. Xxxx Xxxx, X.X. Xxx 0000, Xxxxxxx-Xxxxx,
Xxxxx Xxxxxxxx 0000 to lease thru the agency of The Meridian Realty Group, Inc.,
a certain portion of the warehouse and grounds located at 0000 Xxxxx Xxxxxxxxx
Xxxxxx, Xxxxxxx-Xxxxx, Xxxxx Xxxxxxxx, as shown on attachment "A".
The lease term shall commence September 1, 1998 for twelve (12) months, thru
August 31, 1999, with an option to renew for a consecutive term of twelve (12)
months upon two (2) months notice, prior to the expiration of the current term,
to the Lessor's agent. Either party shall have the option to cancel the lease
upon a six (6) month written notice after a period of six (6) months occupancy
with notice to Lessor's agent, Xxxxxx X. Xxxxxxx, The Meridian Realty Group,
Inc.
Lessor shall maintain, at this expense, fire and extended property insurance for
the building and the Lessee shall maintain, at his expense, liability and
property insurance for the stored property.
The Lessee will protect and save the Lessors harmless and does hereby indemnify
the Lessors against all claims for damages either to persons or property of
whatever kind or nature arising in any manner out of or on account of its use of
the leased premises or on account of any condition of the premises for which the
Lessee is responsible under the terms hereof. Lessee will notify Lessors of any
exterior or structural defect in the lease premises of which it is aware which
may cause injury to any person or property so that Lessors may take whatever
action that may be necessary to correct the same.
Rental for the subject leased space shall be $2.00 per square foot, annually on
35,340 building square feet (shown on attachment "A"), for $5,890.00 per month.
With the rental due the 1st of each month and all made WITHOUT FURTHER NOTICE
payable to Cooks Warehouse, c/o Xx. Xxxx Xxxx as addressed above.
Any increase in the buildings annual insurance rate, above that at the beginning
date of this lease, which increase is caused by the Lessees activities, within
the subject building shall be the expense of the Lessee.
The Lessee shall have the privilege and responsibility of removing, at the
termination of his lease occupancy, any and all equipment, wiring material,
etc., which he has installed in the building including any walls, except for the
bathroom area which shall remain a part of the building.
Signatures below acknowledge the understanding and agreement of the terms set
forth above.
XXXX MOTION CONTROL, INC., LESSEE
By: /s/ Xxxxxxx X. Xxxx, Vice President Date: 9/3/98
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By: /s/ Xxxx Xxxx Date: 8/25/99
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By: /s/ Xxxxxx X. Xxxxxxx Date: 8/25/99
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[THE MERIDIAN REALTY GROUP LETTERHEAD]
Dear Xxxx: VIA FAX
As you can see the attached lease expires August 31, 1999. However, it contains
an option for you to continue in occupancy at the same rate for 12 more months.
In order for this to be done I need your signature below and fax it back to me
right away. (This notification was due by July 1, 1999). Call me if you have any
questions.
By: /s/ Xxxxxx Xxxxxxx
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The Meridian Realty Group, Inc., Lessor, Agent
Dear Xxx:
This notification shall exercise the option to extend Xxxx Motion Controls Inc.
occupancy at 0000 X. Xxxxxxxxx Xxxxxx as authorized by the attached lease.
Xxxx Motion Controls Inc., Lessee
By: /s/ Xxxxxxx X. Xxxx
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Xxxxxxx X. Xxxx, Vice President
Date 8/23/99
