THIRD LEASE MODIFICATION AGREEMENT
THIS AGREEMENT made as of this 27th day of September, 1995 between
CANTON GATEWAY OFFICE PARK, a Connecticut General Partnership, with an office at
000 Xxxxxxxxxx Xxxxxx, Xxxxxxxxxx, Xxxxxxxxxxx 00000 (hereinafter called
"Landlord") and VIDEONICS, Inc., 0000 Xxxx Xxxxxx, Xxxxxxxx, Xxxxxxxxxx 00000
(hereinafter called "Tenant").
WITNESSETH:
WHEREAS by the office lease dated Xxxxx 0, 0000, Xxxxxxxx and Tenant's
successor in interest entered into an office Lease for certain Premises located
on the Second and Third Floor of Building Three, Canton Gateway Office Park,
Canton, Connecticut (hereinafter called the "Lease"), which Premises are more
fully described in the Lease; and
WHEREAS the Lease was modified by the Lease Modification Agreement
dated November 19, 1991 (hereinafter called the "Lease"), and
WHEREAS the Lease was modified by Second Lease Modification Agreement
dated June 21, 1994 (the Lease, the First Lease Modification, the Second Lease
Modification Agreement and this Lease Modification Agreement are hereby
collectively called the "Lease"); and
WHEREAS, Landlord and Tenant wish to modify the Lease.
NOW THEREFORE, for One Dollar ($1.00) and other valuable consideration,
the receipt and adequacy of which is hereby acknowledged, Landlord and Tenant
agree to modify the Lease as follows:
1. The effective date of this Lease Modification is October 1, 1995.
2. Article I (Premises) shall be amended to reflect that the Demised
Premises are the office spaces located on the second and third
floor of Building Number 3, as more particularly described in the
attached Exhibit A and Exhibit B respectively.
3. Article 3 (Rent) shall be amended wherein necessary so that
annual rent will be Sixty-Six Thousand and 00/100 ($66,000.00)
Dollars payable in equal monthly installments of Five Thousand
Five Hundred and 00/100 ($5,500.00) for the period commencing
October 1, 1995 and ending July 31, 1997.
Article 3 (Rent) shall be further amended by making the so-called
base year on account of Operating Expenses for the Portion of the
Demised Premises located on the second floor to be the twelve
month period of July 1, 1993 to June 30, 1994.
Article 3 (Rent) shall be further amended by making the so-called
base year on account of Operating Expenses for the Portion of the
Demised Premises located on the third floor equal to the expenses
incurred during the twelve month period of October 1, 1995
through September 30, 1996. The first payment will be due October
1, 1996 and tenant's pro-rata share of Operating Expenses on
account of the Portion of the Demised Premises on the third floor
shall be 8.997%.
Article 3 (Rent) shall be further amended by making the so-called
base year on account of Real Estate Taxes for the Portion of the
Demised Premises located on the third floor equal to the January
1, 1996 payment multiplied by two (2). The first payment will be
due October 1, 1996 and tenant's pro-rata share of Real Estate
Taxes on account of the Portion of Demised Premises located on
the third floor shall be 8.997%.
4. Landlord shall provide the following work at the Demised
Premises: Repaint and touch-up as needed on the Third Floor,
remove and replace the carpeting throughout the Third Floor,
install new vinyl tile and align with the face of the wall as
shown by Exhibit C, and replace two cabinets doors as located on
Exhibit C.
5. Tenant shall pay a One Thousand and 00/100 Dollar ($1,000.00)
payment upon the signing of this Lease Modification for the
replacement of the carpeting.
6. Except as modified herein, the Lease and all Exhibits and Riders
annexed thereto shall remain in full force and effect, and is
hereby ratified and confirmed.
IN WITNESS WHEREOF, the parties hereto have hereunto set their hands
and seals the day and year first above written.
Signed, Sealed and Delivered
in the presence of:
LANDLORD
CANTON GATEWAY OFFICE PARK
/s/ Xxxxxx Xxxxxxx
----------------------------- By: /s/ Xxxxxxx Xxxxxx
---------------------------
/s/ (unknown)
-----------------------------
TENANT
VIDEONICS, 1NC.
/s/ Xxxxxx Xxxxxxx
----------------------------- By: /s/ Xxxxxx Xxxxxxx
---------------------------
/s/ (unknown)
-----------------------------
Its Duly Authorized:
STATE OF CONNECTICUT )
) ss.
COUNTY OF HARTFORD )
On this 27 day of September, 1995, personally appeared Xxxxxxx Xxxxxxx,
of Videonics, Inc., its President, signer and sealer of the foregoing instrument
and acknowledged the same to be his free act and deed and the free act and deed
of said corporation before me.
/s/ Xxxxxx Xxxxxxx
-----------------------------------------
Notary Public/Commissioner Superior Court
