Exhibit 10.23
FIRST AMENDMENT OF LEASE AGREEMENT
This First Amendment of Lease Agreement (herein, the "First Amendment"
is entered into as of the 1st day of June, 2002, by and between The City of
Xxxxx-Xxxxxx Country Port Authority, an agency of the State of Oklahoma
("Lessor") and Matrix Service Company, a Delaware corporation ("Lessee").
RECITALS:
A. Lessor and Lessee have previously entered into that certain Lease
Agreement dated effective as of March 1, 2001 (herein, the "Original Lease"),
with regard to the real property located in Xxxxxx County, Oklahoma, more
particularly described on Exhibit "A" attached hereto and incorporated herein by
this reference. Unless otherwise defined herein, capitalized terms shall be
given the meanings ascribed to them in the Original Lease.
B. Coincident with the July, 2001 arsine gas release at the
Solkatronic Chemicals facility located within the Tulsa Port of Catoosa, Lessee
delayed their construction activities on the Leased Premises pending their
review of such incident and its potential effect on their leasehold (herein, the
"Construction Delays").
C. Pursuant to the terms of the Original Lease, Lessee's rentals are
scheduled to begin upon Lessee's commencement of business operations on the
Leased Premises (but in no event later than September 1, 2002). Lessee has
indicated to Lessor that Lessee will commence business operations on the Leased
Premises in May, 2002.
D. In recognition of Lessee's Construction Delays, Lessor and Lessee
desire to amend the Original Lease to provide additional abatement of the
commencement of Lessee's rentals on the terms and provisions set forth below.
NOW, THEREFORE, in consideration of the above Recitals, the mutual
covenants set forth herein, and other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, the parties hereto agree
as follows:
1. AMENDMENT AND RESTATEMENT OF EXHIBIT "D", RIDER 2. Exhibit "D"
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Rider 2 attached to the Original Lease is hereby amended and restated in its
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entirety to read as follows:
"RIDER 2, RENT ABATMENT
In consideration of Lessee's time and expense to develop the Leased Premises and
the Construction Delays, Lessor and Lessee hereby agree that the monthly rentals
as referenced in Section 3.1.a of the Lease shall be abated in their entirety
until November 1, 2002. In addition, the Parties agree that Lessee's present
intent is to not use the northern most 3.82 acres of the Leased Premises for any
purpose. Accordingly, there will be no
rentals payable on said acreage unless and until Lessee commences use of any
portion thereof, at which time rentals shall be charged on the entire 3.82 acres
for the remainder of the Primary Term and any renewal terms at the then
effective rate."
2. TERMS OF LEASE IN EFFECT. Except as expressly modified by this
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First Amendment, the terms and provisions of the Original Lease shall be and
remain in full force and effect.
In Witness Whereof, the parties hereto have executed this First
Amendment as of the day and year first above written.
MATRIX SERVICES COMPANY
ATTEST:
/s/ XXXXXXX X. XXXX By: /s/ XXXX XXXXXX
-------------------- ---------------------
(Asst.) Secretary (Vice President)
"Lessee"
THE CITY OF TULSA-XXXXXX
COUNTRY PORT AUTHORITY
ATTEST:
/s/ XXXXXXX X. XXXXX By: /s/ [ILLEGIBLE]
-------------------- --------------------
(Asst.) Secretary (Vice) Chairman
"Lessor"
APPROVED:
/s/ [ILLEGIBLE]
--------------------
Port Attorney
[acknowledgments on following page]
STATE OF OKLAHOMA )
)
COUNTY OF TULSA )
The foregoing instrument was acknowledged before me on May 21 2002, by
Xxxx Xxxxxx, VICE PRESIDENT of Matrix Service Company, a Delaware corporation
/s/ XXXXX X. XXXXXX
----------------------
[SEAL] Notary Public
My commission expires Commission No.
August 15, 2002 9811029
----------------------
[SEAL]
STATE OF OKLAHOMA )
)
COUNTY OF XXXXXX )
The foregoing instrument was acknowledged before me on June 6 2002, by
XXXXXXX X. XXXXXX, Vice Chairman of the City of Tulsa-Xxxxxx County Port
Authority, a public agency of the State of Oklahoma
/s/ [ILLEGIBLE]
----------------------
Notary Public
My commission expires Commission No.
[SEAL] 99007619
Exhibit A
Port of Catoosa Industrial Park
City of Tulsa, Xxxxxx County, Oklahoma
[GRAPHIC APPEARS HERE]
LEGAL DESCRIPTION
A TRACT OF LAND THAT IS PART OF THE SOUTHEAST QUARTER (SE/4) OF SECTION SIX (6),
PART OF THE NORTHEAST QUARTER (NE/4) OF SECTION SEVEN (7) AND PART OF THE
NORTHWEST QUARTER (NW/4) OF SECTION EIGHT (8), ALL IN THE TOWNSHIP TWENTY (20)
NORTH, RANGE FIFTEEN (15) EAST OF THE INDIAN BASE AND MERIDIAN, XXXXXX COUNTY,
OKLAHOMA, SAID TRACT OF LAND BEING DESCRIBED AS FOLLOWS, TO-WIT:
STARTING AT THE SOUTEAST CORNER OF SAID SECTION 6: THENCE XXX XXXX FOR 1,269.58
FEET; THENCE DUE SOUTH FOR 877.98 FEET TO THE POINT OF BEGINNING OF SAID TRACT
OF LAND; THENCE NORTH 08 (DEGREES) 23'24" EAST FOR 2,075.19 FEET; THENCE SOUTH
36 (DEGREES) 59'43" EAST FOR 2,675.12 FEET TO A POINT OF CURVE; THENCE
SOUTHEASTERLY ALONG A CURVE TO THE RIGHT WITH A CENTRAL ANGLE OF 22 (DEGREES)
22'51" AND A RADIUS OF 611.62 FEET, FOR 238.91 FEET: THENCE NORTH 81 (DEGREES)
36'36" WEST FOR 2,037.69 FEET TO THE POINT OF BEGINNING OF SAID TRACT OF LAND,
CONTAINING 49.995 ACRES.
