EXHIBIT 10.56
AMENDMENT TO LEASE
This Amendment to Lease (hereinafter "Amendment") is made as of this 19th
day of November 1998, by and between Executive Park Partnership, qualified to
transact business in Arkansas with an office located at 000 Xxxxxxxxx Xxxx
Xxxxxxxx, 000 Xxxxxxxxx Xxxxx, Xxxxxx Xxxx, Xxxxxxxx 00000 (hereinafter
"Lessor"), and Pharmacy Associates, Inc., an Arkansas corporation (hereinafter
"Lessee").
RECITALS:
WHEREAS, Lessor and Lessee entered into a lease which commenced on March 4,
1996, and a subsequent Amendment to Lease dated November 3, 1998, (hereinafter
collectively referred to as "Lease") under the terms of which Lessor leased to
Lessee approximately 5545 rentable square feet of space located at 000 Xxxxxxxxx
Xxxxx, Xxxxxx Xxxx, Xxxxxxxx (hereinafter "Premises"), which Lease is scheduled
to expire on April 30, 1999; and
WHEREAS, Lessor and Lessee desire to amend the terms of the Lease;
NOW, THEREFORE, in consideration of the mutual covenants, terms,
provisions, and agreement of the parties set forth herein in this Amendment, the
parties agree as follows:
1. Lease Term.
The Lease term shall be for a period of three years, commencing on May 1,
1999, and continuing thereafter until April 30, 2002.
2. Rent.
The annual rental, without deductions, set-off, prior notice, or demand
shall be as follows:
Period Annual Rent Monthly Rent
May 1, 1999 to April 30, 2000 $81,103.00 $6,758.58
May 1, 2000 to April 30, 2001 $84,324.90 $7,027.08
May 1, 2001 to April 30, 2002 $87,713.45 $7,309.45
3. Performance.
Lessor, at Lessor's sole expense, agrees to replace the carpeting in Suite
201, except for the 750 sq. ft. of carpeting installed as a condition of the
Amendment to Lease dated November 2, 1998.
4. Notification of Lessee's Intent to Renew Lease.
Notification must be received in writing and the extension amendment agreed
upon and executed by both LESSEE and LESSOR by November 1, 2001.
5. No Further Modification.
Except as modified by this Amendment to Lease, the Lease dated March 4,
1993, and Amendment to Lease dated November 2, 1998, and all the covenants,
agreements, terms, and provisions thereof shall remain in full force and effect.
In the event of any conflict between the terms contained in this Amendment and
the Lease, the terms herein contained shall supersede and control the
obligations and liabilities of the parties.
IN WITNESS WHEREOF, Lessor and Lessee have executed this Amendment to Lease
on the dates indicated below.
Date: November 5, 1998 Date: November 11, 1998
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XXXXX XXXXX & ASSOCIATES, INC. PHARMACY ASSOCIATES, INC.
Its Managing Agent
By: /s/Xxxxx Xxxxx By: /s/Xxxx Xxxxxx
Xxxxx Xxxxx, President Xxxx Xxxxxx, President
PHARMACY ASSOCIATES, INC.
0000
Xxxxx Xx. Ft. Rate* Total Per Xxxx
000 0000 $14.60 $58,546.00
301 1545 $14.60 $22,557,00
ANNUAL RATE $81,103.00
MONTHLY RATE $ 6,758.58
PHARMACY ASSOCIATES, INC.
2000
Suite Sq. Ft. Rate* Total Per Xxxx
000 0000 $15.18 $60,871.80
301 1545 $15.18 $23,453.10
ANNUAL RATE $84,324.90
MONTHLY RATE $ 7,027.08
PHARMACY ASSOCIATES, INC.
2001
Suite Sq. Ft. Rate* Total Per Xxxx
000 0000 $15.79 $63,317.90
301 1545 $15.79 $24,395.55
ANNUAL RATE $87,713.45
MONTHLY RATE $ 7,309.45
