EXHIBIT 10.10
SECOND AMENDMENT TO LEASE AGREEMENT
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THIS SECOND AMENDMENT TO LEASE AGREEMENT (herein called the "Amendment") is
made and entered into this 21st day of December 1995, by and between XXXXXXXXX
ATLANTA, L.P., a Georgia limited partnership having an office at 0000 Xxxxx
Xxxxx Xxxx, Xxxxx 000, Xxxxxxx, Xxxxxxx 00000 (herein called "Lessor"), and
FIREARMS TRAINING SYSTEMS, INC., a Delaware corporation having an office at 0000
XxXxxxxx Xxxxx Xxxx, Xxxxxxx, Xxxxxxx 00000 (herein called "Lessee");
W I T N E S S E T H:
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WHEREAS, Lessee and Technology Park/Atlanta, Inc. ("Original Lessor"), a
Georgia corporation and the predecessor-in-interest to Lessor, entered into that
certain Lease dated May 4, 1993, as amended by First Amendment to Lease
Agreement dated December 21, 1993 and by letter amendment from Lessee to
Original Lessor dated January 6, 1995, accepted and agreed to by Original Lessor
January 24, 1995 (as so amended herein called the "Lease"), providing for the
leasing of approximately 86,052 rentable square feet within the Building (as
defined in the Lease; all terms used but not defined in this Amendment shall
have the meaning ascribed thereto in the Lease); and
WHEREAS, Lessee wishes to lease from Lessor and Lessor wishes to lease to
Lessee, in addition the Premises, (i) a building expansion (the "Building
Expansion") adjoining the Building, which Building Expansion will be constructed
on that certain tract of land approximately depicted on Exhibit "A" attached
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hereto and by this reference incorporated herein and made a part hereto (herein
called the "Expansion Land") and (ii) that portion of the Expansion Land on
which the Building Expansion is situated (herein collectively called the
"Expansion Premises"), on the terms and conditions hereinafter provided;
WHEREAS, at Lessees request, Lessor has agreed to cause certain interior
improvements to the Building (the "Interior Improvements") to be constructed, on
the terms and conditions hereinafter provided;
WHEREAS, Lessor and Lessee desire to amend the Lease to evidence said
expansion and interior improvements and in certain particulars as hereinafter
provided;
NOW, THEREFORE, for and in consideration of the premises, TEN DOLLARS
($10.00) paid by Lessee to Lessor and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto do
hereby agree as follows:
1. Amendments. The Lease has been and hereby is amended as follows:
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1.1 Section 1. Section 1 of the Lease has been and hereby is amended to
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read in its entirety as follows:
1. TERM. The term of this Lease (as the same may be extended as
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hereinafter provided herein called the "Lease Term") shall commence on November
12, 1993 (herein called the "Commencement Date") and unless sooner terminated
pursuant to the provisions hereof shall terminate at 11:59 p.m. on May 11, 2008
(herein called the "Expiration Date"). Lessee acknowledges and agrees that
except as expressly provided in Schedule 1 attached hereto and by this reference
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incorporated herein: (i) the Premises (excluding the Expansion Premises) have
been completed substantially in accordance with the Plans, as amended in
accordance with Section 40.2 hereof, together with all utilities including
telephone conduit, other than telephone operations, being made available in
accordance with Section 6.1 hereof, to the extent that the Premises (excluding
the Expansion Premises) may be occupied by Lessee, (ii) that Lessor has provided
Lessee with a final certificate of occupancy for the Premises (excluding the
Expansion Premises) and (iii) that Lessor has provided Lessee with a certificate
from the architect certifying the Premises (excluding the Expansion Premises)
have been substantially completed in accordance with the Plans.
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For the avoidance of doubt, nothing contained herein shall modify or reduce the
Option to Extend and Second Option to Extend as provided in Section 43 of the
Lease.
1.2 Section 2. Section 2 of the Lease has been and hereby is amended to
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read in its entirety as follows:
2. RENT.
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2.1 Base Rental for Premises. The annual base rental (herein called
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"Annual Base Rental") for the Premises shall be as follows for each respective
Rental Lease Year (as hereinafter defined), shall be based on 86,052 rentable
square feet as shown in the Plans (as hereinafter defined) and shall be payable
in equal monthly installments (herein called "Base Rent") payable in advance on
the first day of each and every calendar month during the Lease Term commencing
on the First Rental Payment Date (as hereinafter defined):
Rental Lease Year 1:
$5.03 per rentable square foot
Annual Base Rental of $433,178.44
Base Rent per month of $ 36,098.20
Rental Lease Year 2:
$5.08 per rentable square foot
Annual Base Rental of $437,481.04
Base Rent per month of $ 36,456.75
Rental Lease Year 3:
$5.12 per rentable square foot
Annual Base Rental of $440,923.12
Base Rent per month of $ 36,743.59
Rental Lease Year 4:
$5.17 per rentable square foot
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Annual Base Rental of $445,225.72
Base Rent per month of $ 37,102.14
Rental Lease Year 5:
$5.22 per rentable square foot
Annual Base Rental of $449,528.32
Base Rent per month of $ 37,460.69
Rental Lease Year 6:
$5.28 per rentable square foot
Annual Base Rental of $454,691.44
Base Rent per month of $ 37,890.95
Rental Lease Year 7:
$5.34 per rentable square foot
Annual Base Rental of $459,854.56
Base Rent per month of $ 38,321.21
Rental Lease Year 8:
$5.39 per rentable square foot
Annual Base Rental of $464,157.16
Base Rent per month of $ 38,679.76
Rental Lease Year 9:
$5.54 per rentable square foot
Annual Base Rental of $477,064.96
Base Rent per month of $ 39,755.41
Rental Lease Year 10:
$5.59 per rentable square foot
Annual Base Rental of $481,367.56
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Base Rent per month of $ 40,113.96
Rental Lease Year 11:
$5.65 per rentable square foot
Annual Base Rental of $486,181.24
Base Rent per month of $ 40,515.10
Rental Lease Year 12:
$5.71 per rentable square foot
Annual Base Rental of $491,043.05
Base Rent per month of $ 40,920.25
Rental Lease Year 13:
$5.76 per rentable square foot
Annual Base Rental of $495,953.48
Base Rent per month of $ 41,329.46
Rental Lease Year 14:
$5.82 per rentable square foot
Annual Base Rental of $500,913.01
Base Rent per month of $ 41,742.75
As used in this Section 2.1, the term "Rental Lease Year" shall mean a
period of time beginning and ending at such times as hereinafter provided,
and the first Rental Lease Year shall commence on the date that is six (6)
months after the Commencement Date (the "First Rental Payment Date") and
shall end on the day preceding the date on which the first anniversary of
the First Rental Payment Date occurs. Each succeeding Rental Lease Year
shall commence on the day immediately following the last day of the
immediately preceding Rental Lease Year and shall end on the day that is
the anniversary of the date on which the previous Rental Lease Year ended.
For the avoidance of doubt, Lessee shall not be obligated to pay Annual
Base Rental or Base Rent for the six (6) month period from the Commencement
Date until the First Rental Payment Date, but shall pay all other costs
associated with the Premises from and after the Commencement Date. Base
Rent shall be prorated at the rate per diem of 1/30th of the Base Rent for
any partial month.
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2.2 Base Rental for Expansion Premises. Subject to adjustment as provided
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in section 45 hereof, the annual base rental for the Expansion Premises
(herein called "Annual Expansion Base Rental") shall be as follows for
Expansion Rental Lease Year 1 (as hereinafter defined), shall be based on
6,740 rentable square feet contained in the Expansion Premises as shown in
the Expansion Plans (as hereinafter defined) and shall be payable in
monthly installments (herein called "Expansion Base Rent") payable in
advance on the first day of each and every calendar month during the Lease
Term commencing on the Expansion Commencement Date (as hereinafter defined
in section 45.7):
Expansion Rental Lease Year 1:
Annual Expansion Base Rental of $ 22,242.00
Expansion Base Rent per month of $ 1,853.50
Thereafter, the Annual Expansion Base Rental for each Expansion Rental
Lease Year shall be an amount equal to 101% of the Annual Expansion Base
Rental for the immediately preceding Expansion Rental Lease Year. As used
in this section 2.2, the term "Expansion Rental Lease Year" shall mean a
period of time beginning and ending at such times as hereinafter provided,
and the term "Expansion Rental Lease Year 1" shall mean a period of time
commencing on the Expansion Commencement Date (as hereinafter defined) and
ending on the last day of Rental Lease Year 3 (as provided in Section 2.1
above). Each succeeding Expansion Rental Lease Year shall commence on the
day immediately following the last day of the immediately preceding
Expansion Rental Lease Year and shall end on the day that is the
anniversary of the date on which the previous Expansion Rental Lease Year
ended. Expansion Base Rent shall be prorated at the rate per diem of
1/30th of the Expansion Base Rent for any partial month. Within sixty (60)
days after "substantial completion" (as hereinafter defined) of the
Building Expansion, Lessor shall provide Lessee with a calculation of the
rentable square feet in the Building Expansion, certified by Lessor's
architect. If such calculation shows a number of rentable square feet in
the Building Expansion other than 6,740, then the Annual Expansion Base
Rental and Expansion Base Rent for Expansion Rental Lease Year 1 shall be
adjusted to reflect the actual number of rentable square
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feet in the Building Expansion, and Lessor and Lessee shall execute an
amendment reflecting said adjusted initial rent and the Annual Expansion
Base Rental and Expansion Base Rent for each Expansion Rental Lease Year.
2.3 Interior Improvements Reimbursement Rental. Subject to adjustment as
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provided in Section 45 hereof, the annual interior improvements
reimbursement rental (herein called "Annual Interior Improvements
Reimbursement Rental") shall be payable in one hundred forty-four (144)
monthly installments (herein called "Interior Improvements Monthly
Reimbursement Rent") payable in advance on the first day of each and every
calendar month commencing on the Interior Improvements Acceptance Date (as
hereinafter defined in Section 45.7) and continuing through such one
hundred forty-fourth (144th) month. The Annual Interior Improvements
Reimbursement Rental shall be as follows for Interior Improvements Rental
Lease Year 1 (as hereinafter defined):
Interior Improvements Rental Lease Year 1:
Annual Interior Improvements Reimbursement Rental
of: $50,063.16
Interior Improvements Monthly Reimbursement Rent
of: $ 4,171.93.
Thereafter, the Annual Interior Improvements Reimbursement Rental for each
Interior Improvements Rental Lease Year shall be an amount equal to 101% of
the Annual Interior Improvements Reimbursement Rental for the immediately
preceding Interior Improvements Rental Lease Year. As used in this Section
2.3, the term "Interior Improvements Rental Lease Year" shall mean a period
of time beginning and ending at such times as hereinafter provided, and the
term "Interior Improvements Reimbursement Rental Lease Year 1" shall mean a
period of time commencing on the Interior Improvements Acceptance Date (as
hereinafter defined) and ending on the last day of Rental Lease Year 3 (as
provided in Section 2.1 above). Each succeeding Interior Improvements
Rental Lease Year shall commence on the day immediately following the last
day of the immediately preceding Interior Improvements Rental Lease Year
and shall end on the day that is the anniversary of the date on which the
previous Interior Improvements Rental Lease Year ended;
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provided, however, that the Interior Improvements Rental Lease Year in
which the one hundred forty-fourth (144th) payment of Interior Improvements
Monthly Reimbursement Rent is due shall terminate on the last day of the
month in which such installment is due. Interior Improvements Monthly
Reimbursement Rent shall be prorated at the rate per them of 1/30th of the
Interior Improvements Monthly Reimbursement Rent for the first (lst) and
one hundred forty-fourth (144th) months, to the extent such months are
partial months.
1.3 Section 43.4. Section 43.4 is hereby modified by deleting from the
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first through fourth lines thereof the phrase "for the purpose of exercising its
rights under that certain
Option to Lease, dated of even date herewith and entered by and between Lessor
and Lessee."
1.4 Section 43.5. The following Section 43.5 is hereby added to the
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Lease:
43.5 If Lessee has exercised the Option to Extend and the Second
Option to Extend and if Lessee is not then in default under this
Lease, then Lessee shall have an additional option to extend the
Extended Term (herein called the "Third Option to Extend") for up to
five (5) years (herein called the "Third Extended Term"). Such Third
Option to Extend shall be exercised by written notice from Lessee to
Lessor given on or before the date that is six (6) months prior to the
expiration of the Second Extended Term which written notice shall
specify the period of the Third Extended Term in whole years. In the
event Lessee exercises the Third Option to extend, all terms and
conditions of this Lease shall continue in full force and effect
throughout the Third Extended Term, except as provided in Section 43.3
hereof and except that the Annual Base Rental rate shall be determined
in accordance with Sections 43.1 and 43.2 hereof and all references to
the "Extended Term" shall be deemed to refer to "Third Extended Term."
1.5 Section 45. The following Section 45 is hereby added to the Lease:
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45. EXPANSION PREMISES AND INTERIOR IMPROVEMENTS.
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45.1 Lessee hereby acknowledges and approves of the retention by
Lessor of Xxxxxx Construction Company (herein called the "Approved
Expansion Contractor") to construct the Building Expansion and the
Interior Improvements pursuant to a construction contract
substantially in the form attached hereto as Exhibit "B" and by this
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reference incorporated herein and made a part hereof (the "Xxxxxx
Contract"). Lessor shall cause the Building Expansion to be
constructed on the Expansion Land, and Lessor shall cause the Interior
Improvements to be constructed, all substantially in accordance with
those certain final plans and specifications of the Building Expansion
and Interior Improvements, which plans and specifications have been
and are hereby approved by Lessor and Lessee and are identified on the
List of Drawings Issued for Construction attached to the Xxxxxx
Contract. Lessee hereby approves the form of Xxxxxx Contract attached
hereto as Exhibit "B", the time periods specified therein for
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Substantial Completion of the entire Work, the Interior Renovation and
the Exterior Expansion (as such terms are defined in the Xxxxxx
Contract), the work necessary to accommodate installation of the
gunboat simulator and the provisions contained in Article 8 of the
Xxxxxx Contract, the General Conditions and the Supplemental General
Conditions for extension of the Contract Time (as defined in the
Xxxxxx Contract). Lessor shall be deemed to have diligently proceeded
to effect "substantial completion" of the Interior Improvements and
Building Expansion (as hereinafter defined) if Lessor uses reasonable
and customary efforts to enforce the terms of the Xxxxxx Contract,
including without limitation said Contract Time, as the same may be
extended, and Lessor's remedies under Article 14 of the General
Conditions for default of the Approved Expansion Contractor. Lessor
shall use reasonable efforts to have Lessee deemed to be a co-
beneficiary relating to any bonds that may be issued relating to the
Approved Expansion Contractor's payment and performance. Upon
substantial completion of the Building Expansion, Lessor shall cause a
Georgia registered surveyor or engineer, reasonably acceptable
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to Lessee, to prepare and deliver to Lessee a survey of the Expansion
Land which shall show all improvements on the Expansion Land as of the
date of such survey. Such survey shall contain a metes and bounds
description of the Expansion Land and shall contain the certifications
in favor of Lessor and Lessee and the minimum standard detail
requirements for an ALTA/ACSM Land Title Survey meeting the
requirements of a Class A Survey, as adopted by ACSM on September 16,
1988 and by ALTA on October 19, 1988.
45.2 No revisions or amendments to the Expansion Plans will be
implemented without the written approval of both Lessor and Lessee,
which approval Lessor and Lessee each agree not unreasonably to
withhold or delay. Any such revision or amendment to the Expansion
Plans that is approved by the Lessor and Lessee as provided herein is
called an "Expansion Change Order." Lessor's determination that a
proposed Expansion Change Order would reduce the value of the
Expansion Premises and the disapproval of a proposed Expansion Change
Order by the holder of any Mortgage shall each be deemed to be a
reasonable basis for disapproval by Lessor. Any proposed Expansion
Change Order to the Expansion Plans shall be submitted by the
proposing party to the other party in writing and shall be approved or
rejected in writing within ten (10) business days after receipt
thereof by the nonproposing party, and if not rejected within said
time period shall be deemed approved.
45.3 Lessor and Lessee acknowledge and agree that the Annual Interior
Improvements Reimbursement Rental for Interior Improvements Rental
Lease Year 1 shall be an amount per annum equal to:
[Expansion (Rentable Square
15.043% X Construction - Feet of Expansion
Costs Premises x $30.00)],
and as set forth in Section 2.3 hereof has been calculated based upon
Expansion Construction Costs (as hereinafter defined) of $535,000.00
and 6,740 rentable square feet of Building Expansion Premises. Within
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sixty (60) days after "substantial completion" (as hereinafter
defined) of the Interior Improvements and the Building Expansion,
Lessor shall determine the actual Expansion Construction Costs and
deliver to Lessee a statement of such actual Expansion Construction
Costs, together with reasonably sufficient evidence verifying such
costs. If such statement shows Expansion Construction Costs other than
$535,000.00 or if the square footage calculation provided by Landlord
to Tenant under Section 2.2 of this Lease shows a number of rentable
square feet in the Expansion Premises other than 6,740, such initial
rental shall be adjusted in accordance with the formula set forth
above, and Lessor and Lessee shall execute an amendment to this Lease
setting forth the Annual Interior Improvements Reimbursement Rental
and the Interior Improvements Monthly Reimbursement Rent for all
Interior Improvements Rental Lease Years. For purposes of this Section
45.3, "Expansion Construction Costs" shall mean any and all costs and
expenses of any nature, whether generally characterized as "hard" or
"soft" costs, incurred by Lessor and payable to a third party in
connection with the design and construction of the Building Expansion
and the Interior Improvements, including, without limitation,
attorney's fees, architectural and design fees and expenses, the cost
of any insurance premiums which are required to be maintained with
respect to the Building Expansion or the Interior Improvements, the
cost of any survey required by this Amendment, the cost of sales or
use taxes on materials provided for the Building Expansion or Interior
Improvements, the cost of all permitting fees, the cost of utility tap
and service fees and the cost of reasonable, customary and applicable
Administrative, overhead and profit allowances payable to the Approved
Expansion Contractor, plus any reasonable, customary and applicable
administrative fee charged by Lessor with respect thereto.
45.4 Lessor and Lessee acknowledge and agree that the Annual Expansion
Base Rental for Expansion Rental Lease Year 1 has been calculated
based upon a residual value of $30.00 per square foot for the Building
Expansion.
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45.5 Lessor shall promptly commence and diligently proceed to
"substantially complete" the Interior Improvements and the Expansion
Premises, in accordance with the Expansion Plans, as the same may be
amended in accordance with Section 45.2 hereof. As applied to the
Interior Improvements or the Expansion Premises, the term
"substantially completed," "substantially complete," or "substantial
completion" as used in this Section 45 shall mean (i) completed
substantially in accordance with the Expansion Plans, as amended in
accordance with Section 45.2 hereof, together with all utilities
including telephone conduit, other than telephone operations, being
made available in accordance with Section 6.1 hereof, to the extent
that the portion of the Premises affected by the Interior Improvements
or the Expansion Premises, as applicable, may be occupied by Lessee,
(ii) that Lessor has provided Lessee with a temporary certificate of
occupancy for the portion of the Premises affected by the Interior
Improvements or the Expansion Premises, as applicable (and Lessor
shall diligently pursue issuance of a final certificate of occupancy
therefor) and (iii) that Lessor has provided Lessee with a certificate
from the architect certifying the Interior Improvements or the
Expansion Premises, as applicable, have been substantially completed
in accordance with the Expansion Plans, it being understood by both
Lessor and Lessee that minor punchlist items shall not be considered
an obstruction to the initial occupancy and use of the portion of the
Premises affected by the Interior Improvements or the Expansion
Premises, as applicable, by Lessee.
45.6 Lessor shall provide Lessee with periodic written reports
generally summarizing the status of the construction of the Interior
Improvements and the Building Expansion, the adherence to any
applicable construction schedules and the anticipated dates that the
Interior Improvements and the Building Expansion will be substantially
completed and shall invite Lessee to periodic meetings between Lessor
and the Approved Expansion Contractor to discuss the progress of the
construction of the Interior Improvements and the Expansion Premises.
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45.7 Notwithstanding anything to the contrary contained herein, the
Expansion Commencement Date shall be deemed to be that date on which
"substantial completion" of the Expansion Premises would have
otherwise occurred but for (i) amendments to the Expansion Plans
requested by Lessee, or (ii) delays caused by Lessee, its contractors,
employees; or agents, and the Interior Improvements Acceptance Date
shall be deemed to be that date on which "substantial completion" of
the Interior Improvements would have otherwise occurred but for (i)
amendments to the Expansion Plans requested by Lessee, or (ii) delays
caused by Lessee, its contractors, employees, or agents. Upon the
Expansion Commencement Date, the Expansion Premises shall be included
within the meaning of "Premises" for purposes of all provisions of
this Lease other than Sections 2.1 and 40.
2. Ratification. Both Lessor and Lessee acknowledge and confirm that the
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Lease, as amended hereby, is in full force and effect and the other party is not
in default under the Lease. This Amendment shall inure to the benefit of and be
binding upon the parties hereto and their respective successors and assigns.
This Amendment shall be governed by and construed under the laws of the State of
Georgia.
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3. Counterparts. This Amendment may be executed in counterparts which
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shall be construed together as one instrument.
IN WITNESS WHEREOF the parties hereto have hereunto set their hands
and seals the day and year first above written.
LESSOR:
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XXXXXXXXX ATLANTA, L.P., a Georgia
limited partnership
By: SA Management, Inc., a Georgia
corporation, sole general partner
by: /s/ Xxxxx X. Xxxxxxx, Xx.
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Xxxxx X. Xxxxxxx, Xx.
Secretary
[CORPORATE SEAL]
LESSEE:
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FIREARMS TRAINING SYSTEMS, INC., a
Delaware corporation
By: /s/ Xxxxx X. Apselof
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Its: CFO
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[CORPORATE SEAL]
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EXHIBIT A
0000 XXXXXXXX XXXXX XXXX
XXXXX 1
ALL THAT TRACT OR PARCEL OF LAND lying and being in Land Xxxx 000 xxx 000,
xxx Xxxxxxx, 0xx Xxxxxxxx, Xxxxxxx Xxxxxx, Xxxxxxx, and being more particularly
described as follows:
TO FIND THE TRUE POINT OF BEGINNING, commence at the northern terminus of
the mitered corner at the intersection of the northeasterly right-of-way of
XxXxxxxx Ferry Road (having an 80 foot right-of-way) and the southeasterly
right-of-way of Lakefield Drive; running thence along said mitered corner South
13 degrees 05 minutes 00 seconds East a distance of 70.00 feet to a point
located along the northeasterly right-of-way of XxXxxxxx Ferry Road; run thence
along said northeasterly right-of-way of XxXxxxxx Ferry Road South 58' degrees
05 minutes 00 seconds East a distance of 574.97 feet to a point; thence leave
said northeasterly right-of-way of XxXxxxxx Ferry Road and run North 24 degrees
30 minutes 00 seconds East a distance of 109.21 feet to a point; run thence
along the arc of a curve to the right (said arc being subtended by a chord
bearing North 32 degrees 31 minutes 51 seconds East a chord distance of 148.09
feet and having a radius of 530-00 feet) an arc distance of 148.58 feet to a
point; run thence along the arc of a curve to the right (said arc being
subtended by a chord bearing North 59 degrees 08 minutes 47 seconds East a chord
distance of 82.86 feet and having a radius of 130.00 feet) an arc distance of
84.33 feet to a point, which point marks the TRUE POINT OF BEGINNING; FROM THE
TRUE POINT OF BEGINNING as thus established, running thence North 39 degrees 20
minutes 00 seconds West a distance of 30.00 feet to a half inch rebar set;
running thence North 27 degrees 37 minutes 16 seconds East a distance of 320.01
feet to a half inch rebar found; running thence South 88 degrees 30 minutes 00
seconds East a distance of 692.94 feet to a half inch rebar found along the
westerly right-of-way of New Xxxx Road (having a 100 foot right-of-way); running
thence along the westerly right-of-way of New Xxxx Road the following courses
and distances: South 00 degrees 29 minutes 11 seconds West a distance of 71.32
feet to a point; along the arc of a curve to the right (said arc being subtended
by a chord bearing South 07 degrees 59 minutes 11 seconds West a chord distance
of 173.91 feet and having a radius of 666.20 feet) an arc distance of 174.41
feet to a point; South 15
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degrees 29 minutes 11 seconds West a distance of 157.00 feet to a point; thence
leaving said westerly right-of-way of New Xxxx Road and running North 86 degrees
20 minutes 00 seconds West a distance of 103.00 feet to a point; running thence
South 74 degrees 10 minutes 00 seconds West a distance of 80.00 feet to a Point;
running thence South 63 degrees 15 minutes 00 seconds West a distance of 100.00
feet to a point; running thence South 80 degrees 20 minutes 00 seconds West a
distance of 160.00 feet to a point; running thence North 78 degrees 15 minutes
00 seconds West a distance of 50.00 feet to a point; running thence North 61
degrees 00 minutes 00 seconds West a distance of 100.00 feet to a point; running
thence North 73 degrees 45 minutes 00 seconds West a distance of 111.92 feet to
a point; running thence North 39 degrees 20 minutes 00 seconds West a distance
of 133.66 feet to a point, said point being the POINT OF BEGINNING; containing
7.5688 acres and being designated as Tract 1 on that Boundary & Above Ground
"As-Built" Survey for Landesbank Hessen-Thuringen Girozentrale, Deuteron of
North America, Inc. & First American Title Insurance Company by Xxxxxxx &
Associates, Inc., certified by Xxxx X. Xxxxxxx, Georgia Registered Land Surveyor
No. 2422, dated December 19, 1994, last revised March 9, 1995.
TOGETHER WITH:
TRACT 2
ALL THAT TRACT OR PARCEL OF LAND lying and being in Land Lots 420 and 421,
lst Section, lst District, Forsyth County, Georgia, and being more particularly
described as follows:
TO FIND THE TRUE POINT OF BEGINNING, begin at the northern terminus of the
mitered corner intersection of the northeasterly right-of-way of XxXxxxxx Ferry
Road (having an 80 foot right-of-way) and the southeasterly right-of-way of
Lakefield Drive; run thence along said mitered corner South 13 degrees 05
minutes 00 seconds East a distance of 70.00 feet to a point located along the
northeasterly right-of-way of XxXxxxxx Ferry Road; run thence along said
northeasterly right-of-way of XxXxxxxx Ferry Road South 58 degrees 05 minutes 00
seconds East a distance of 574.97 feet to a point, said point marking the TRUE
POINT OF BEGINNING; FROM THE TRUE POINT OF BEGINNING as thus established, thence
leaving said northeasterly right-of-way of XxXxxxxx Ferry Road and running North
24 degrees 30 minutes 00 seconds East a distance of 109.21 feet to
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a point; running thence along an arc of a curve to the right (said arc being
subtended by a chord bearing North 32 degrees 31 minutes 51 seconds East a chord
distance of 148.09 feet and having a radius of 530.00 feet) an arc distance of
148.58 feet to a point; running thence along an arc of a curve to the right
(said arc being subtended by a chord bearing North 59 degrees 08 minutes 47
seconds East a chord distance of 82.86 feet and having a radius of 130.00 feet)
an arc distance of 84.33 feet to a point; running thence South 39 degrees 20
minutes 00 seconds East a distance of 78.33 feet to a point; running thence
along the arc of a curve to the left (said arc being subtended by a chord
bearing South 74 degrees 26 minutes 58 seconds West a chord distance of 78.06
feet and having a radius of 70.00 feet) an arc distance of 82.80 feet to a
point; running thence along an arc of a curve to the left (said arc being
subtended by a chord bearing South 32 degrees 31 minutes 51 seconds West a chord
distance of 131.33 feet and having a radius of 470.00 feet) an arc distance of
131.76 feet to a point; running thence South 24 degrees 30 minutes 00 seconds
West a distance of 117.02 feet to a point located along the northeasterly right-
of-way of XxXxxxxx Ferry Road; running thence along said northeasterly right-of-
way of XxXxxxxx Ferry Road North 58 degrees 05 minutes 00 seconds West a
distance of 60.51 feet to a point, which point marks the POINT OF BEGINNING;
containing 0.4614 acres and being designated as Tract 2 on that Boundary & Above
Ground "As-Built" Survey for Landesbank Hessen-Thuringen Girozentrale, Deuteron
of North America, Inc. & First American Title Insurance Company by Xxxxxxx &
Associates, Inc., certified by Xxxx X. Xxxxxxx, Georgia Registered Land Surveyor
No. 2422, dated December 19, 1994, last revised March 9, 1995.
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EXHIBIT "B"
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Xxxxxx Contract
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Schedule 1
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Lessee has asserted that certain of the non-carpeted portions of the
Premises (excluding the Expansion Premises) located in the shipping and
receiving area, installed by Xxxxxx Construction Company ("Xxxxxx") at the
direction of original Lessor are bubbling and cracking. It is the understanding
of the parties hereto that Xxxxxx will correct the condition of said flooring,
at Xxxxxx'x expense, contemporaneously with the Interior Improvements and the
Building Expansion. This understanding will not diminish any obligations Lessor
may have under the Lease to correct this condition. Lessee acknowledges and
agrees that Lessee has no right to terminate the Lease by virtue of this
condition.
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CONSENT OF MORTGAGEE
The undersigned, being the holder of a certain Deed to Secure Debt and
Security Agreement (the "Security Deed"), dated March 22, 1995, recorded in Deed
Book 841, page 416, Forsyth County, Georgia Records, and a certain Assignment of
Leases and Rents (the "Assignment") dated March 22, 1995, recorded in Deed Book
841, page 446, aforesaid Records, which Security Deed and Assignment encumber
and affect inter alia, the Land (as defined in the Lease) and the Expansion Land
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(as defined in the Amendment to which this Consent is attached), does hereby
consent to and approve of the Amendment to which this Consent is attached for
all purposes under the Security Deed and the Assignment; provided, however, this
Consent shall in no manner obligate the undersigned to complete the improvements
contemplated by the Amendment. The undersigned hereby evidences such consent by
causing its duly authorized officers to sign, seal and deliver this Consent this
___________________ day of December, 1995.
Signed, sealed and delivered Landesbank Hessen - Thuringen
in the presence of: Girozentrale
By:
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Unofficial Witness Name:
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Title:
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Notary Public
My Commission Expires: [SEAL]
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(NOTARIAL SEAL)
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