MODIFICATION AGREEMENT EXECUTED BY THE PARTY OF THE FIRST PART, "COMPLEJO
INDUSTRIAL XXXXXXX X.X. DE C.V." REPRESENTED AT THIS ACT BY THE CHAIRMAN OF
ITS BOARD OF DIRECTORS XX. XXXXXXX XXXXXXX XXXXXX, WHO HEREINAFTER SHALL BE
KNOWN AS "THE LESSOR" AND PARTY OF ThE SECOND PART, "S.T.B. DE MEXICO- S.A.
DE C.V.", REPRESENTED AT THIS ACT BY XX XXXXXXX XXX XXXXXXXXX WHO HEREINAFTER
FOR THE PURPOSES OF THIS AGREEMENT SHALL BE DESIGNATED AS "THE LESSEE", WHICH
ARE AGREEING TO THE FOLLOWING STATEMENTS AND CLAUSES:
STATEMENTS:
I.- Both parties do hereby represent the following:
a).- That on December 06, 1988 they executed a LEASING
CONTRACT and later, on February 25, 1994, they made a
MODIFYING AGREEMENT thereto as such was in their interest,
combining therein areas "A" and "B" of Edificio Xxxxxxx II
(Xxxxxxx Building II) located on Xxxxxxx Xxxxxxxx Avenue
Number 7470 (seven thousand four hundred and seventy) here
in Ciudad Xxxxxx, Chihuahua, which is currently in effect.
b).- On October 4th, 1996 they executed a LEASING CONTRACT
by which THE LESSOR will build an Industrial Plant Unit to
be leased by THE LESSEE. This unit will be located at
Edificio Xxxxxxx M (Xxxxxxx Building XI) within Complejo
Industrial Xxxxxxx here in Ciudad Xxxxxx, Chihuahua. Average
deadline set for finishing construction of the building is
estimated to be approximately 12 (twelve) months, and the
Initial Term of said CONTRACT had been set to begin as soon
as THE LESSEE receives the LEASED PROPERTY.
c).- Given the facts that are set forth in the above parts,
both parties desire to make some amendments to the currently
effective LEASING CONTRACT, and for such reason they are
hereby agreeing to the following:
CLAUSES:
FIRST.- By reason of execution of the LEASING CONTRACT mentioned in the
First Statement part b) of this instrument, both parties are hereby
agreeing to amend Clause Fourth of the MODIFYING AGREEMENT they made on
February 25, 1994, concerning the Term, so that the period of
effectiveness of the Initial Term of said CONTRACT may be extended until
the time the LEASED PROPERTY which is specified in part b) of the First
Statement of this instrument Is delivered by THE LESSOR and accepted by
THE LESSEE.
SECOND. - By reason of execution of the LEASING CONTRACT mentioned in the
First Statement part b) of this instrument, both parties are agreeing to
amend Clause Three of the Modifying Agreement they executed on February 25,
1994 concerning the Price, so that for the period to begin as of March 1,
1997 up to the time the LEASED PROPERTY specified in part b) of the First
Statement of this instrument is delivered and accepted, rent to be paid by
THE LESSEE shall be increased by applying the Accumulated Consumer Price
Index "CPI" published by the Department of Labor of the United States of
America to current rent which will become due from the 1st day of March, 1994
to the 28th day of February, 1997, at the current amount of $4.75 (FOUR
DOLLARS 75/100) legal tender of the United States of America per square foot
of building per year; which must be paid by it according to contractually
established terms and conditions.
THIRD.- In the event THE LESSEE either exercises or fails to exercise its
first right to extension with respect to the total leased area, or to just
one of the two areas making up the LEASED PROPERTY, identified as Xxxxxxx
Building II, whether section "A" and/or "B", THE LESSOR shall grant THE
LESSEE a first priority right for leasing either the total area of THE LEASED
PROPERTY or whatever section of the real property on which it had not
exercised its
right of extension, as the case may be, for a period of two years starting at
the time it becomes Fully vacated; under such circumstances and in the event
THE LESSOR has real potential for leasing said real property to a third
party, it must first notify THE LESSEE of the guidelines for leasing so that
the latter (THE LESSEE) may exercise its right of priority within a period
not to exceed fifteen days starting as of the time notification is given to
it by THE LESSOR, and it must agree to the conditions set forth in the
written notification provided; if upon expiration of this period THE LESSEE
has failed to state in writing its decision to lease said real property, this
right shall be held to have expired and therefore, THE LESSOR shall be able
to freely contract.
FOURTH. - Both parties are agreeing that any Clauses which have not been
amended shall still remain in effect as long as they are in agreement with
the purpose pursued in executing this instrument, and the meaning thereof
shall be construed according to this MODIFYING AGREEMENT.
THE ABOVE AGREEMENT WAS READ BY THE PARTIES, AND THEY ACCEPTED IT, AND AS
PROOF OF THEIR ACCEPTANCE THEY ARE SIGNING THIS AGREEMENT AT CIUDAD XXXXXX,
CHIHUAHUA, ON THE 4TH DAY OF OCTOBER OF NINETEEN HUNDRED AND NINETY SIX.
THE LESSOR THE LESSEE
COMPLEJO INDUSTRIAL XXXXXXX, S.T.B. DE MEXICO, S.A. DE C.V.
S.A. DE C.V.
/s/ XXXXXXX XXXXXXX XXXXXX /s/ XXXXXXX XXX XXXXXXXXX
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XX XXXXXXX XXXXXXX XXXXXX XX. XXXXXXX XXX XXXXXXXXX
CHAIRMAN OF THE BOARD OF SOLE ADMINISTRATOR
DIRECTORS
WITNESSES
/s/ XXXXXXXX XXXX H. /s/ XXXXX X. XXXXXX Q.
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XX. XXXXXXXX XXXX H. XX. XXXXX X. XXXXXX Q.
