EXHIBIT 10.2
FIRST AMENDMENT TO LEASE
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This First Amendment to Lease ("Amendment 1") made and entered into this 1st day
of October, 2005, by and between BRANCH BANKING AND TRUST COMPANY OF VIRGINIA, a
Virginia Corporation, as Landlord, and EOIR TECHNOLOGIES, INC, as Tenant.
WITNESSETH
WHEREAS, Landlord and Tenant entered into that certain Lease Agreement dated May
31, 2002 (collectively hereinafter referred to as the "Lease"), for certain
premises consisting of approximately 5,420 square feet on the first floor of the
building located at 0000 Xxxxxx Xxxxx Xxxx, Xxxxxxxxxx, XX (hereinafter referred
to as the "Premises"),
Whereas, Landlord and Tenant hereto desire to amend the Lease as follows:
That the Lease is amended effective October 1, 2005:
1. Renewal Term
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The term of the Lease shall be extended for an additional period of
Three (3) years commencing October 1, 2005 and expiring on September
30, 2008.
2. Base Rent
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October 1, 2005- September 30, 2006, base rent is adjusted to
$108,400.00 annually to be paid in monthly installments of $9,033.34
October 1, 2006 - September 30, 2007, base rent is adjusted to
$109,516.52 annually to be paid in monthly installments of $9,126.38.
October 1, 2007 - September 30, 2008, base rent is adjusted to
$110,644.54 annually to be paid in monthly installments of $9,220.38.
3. Additional Rent
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Paragraph 5- Base Rental Adjustment Following Base Year shall be
deleted in its entirety as this Amendment 1 changes the lease to a
full service lease.
4. Additional Improvements
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Tenant shall retain the right to request further Tenant Improvements
on said premises throughout the remainder of the renewal term. All
approvals of said improvements will be at the full discretion of the
Landlord. All requests shall be submitted with copies of plans and
estimated expenses to : Branch Banking and Trust Company of Virginia,
XX Xxx 0000, Xxxxxxx Xxxxx, XX 00000-0000, Attention: Tenant Income
Manager. If by overnight mail to 0000 Xxxxxxxx Xxxx, Xxxxxxx Xxxxx, XX
00000.
5. Notices
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Tenant shall provide any notices required under the Lease to Landlord
as follows: Branch Banking and Trust Company of Virginia, XX Xxx 0000,
Xxxxxxx Xxxxx, XX 00000-0000, Attention: Tenant Income Manager. If by
overnight mail to 0000 Xxxxxxxx Xxxx, Xxxxxxx Xxxxx, XX 00000.
6. Miscellaneous
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Landlord and Tenant each represent and warrant to the other that
neither of them has employed any broker in procuring or carrying on
any negotiations relating to this Amendment 1. Landlord and Tenant
shall indemnify and hold each other harmless from any costs, expenses
and liabilities, including without limitation, reasonable attorneys'
fees and expenses, relating to the breach of the foregoing
representation and warranty by the indemnifying party.
Landlord and Tenant represent and warrant to each other that the
person signing this Amendment 1 on its behalf has the requisite
authority and power to execute this Amendment 1 and to thereby bind
the party on whose behalf it is being signed.
Except as expressly set forth in this Lease Amendment 1, the Lease shall
otherwise remain in full force and effect, the parties hereto hereby ratifying
and confirming the same. To the extent there shall be any inconsistency between
the Lease and this Amendment 1, this Amendment 1 shall control.
IN WITNESS WHEREOF, Landlord and Tenant have caused this Amendment to be
executed as of the day and year first written above.
WITNESSETH: LANDLORD:
Branch Banking and Trust Company
/s/ signature of Virginia, a Virginia Corporation
By: /s/ Xxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxxx, Vice President
TENANT
EOIR Technologies, Inc.
WITNESSETH:
/s/ Xxxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxx Xxxxxx
