EXHIBIT 10.15
EXTENSION TO LEASE AGREEMENT
This Extension to Lease Agreement to be attached
to and form a part of the lease (which together with any
amendments, modifications and extensions thereof is herein-
after called the Lease) made the 7th day of May, 1990.
Between The Realty Associates Fund III, L.P.,
(hereinafter referred to as "Lessor") is successor in interest
to all rights and obligations of that certain lease (the
"Lease") dated May 7, 1990, between Crow-Southland Joint
Venture No. 1, Joint Venture (by Xxxxxxxx Xxxx Company No. 68,
General partner), and BeautiControl Cosmetics, Inc.
(hereinafter referred to as "Lessee") covering the 59,312
square foot facility located at 4545 - 0000 Xxxxxxxx Xxxx,
Xxxxxxx Xxxxxx, Xxxxx 00000.
WITNESSETH:
o that the Lease is hereby renewed and extended for a
further term of forty-eight (48) months to commence
on the 1st day of October, 1995, and to terminate on
the 30th day of September, 1999 on the condition that
Lessor and Lessee comply with all the terms,
covenants and agreements contained in the Lease,
except that the base monthly rental during said
period shall be 42.65NN per square foot, or Thirteen
Thousand Ninety-Eight and 07/100 Dollars ($13,098.07)
per month.
o Paragraph 28 of the Lease Agreement shall be replaced
by: Provided that Lessee is not in default of any of
the terms, covenants and conditions hereof, and this
Lease has not been assigned or the premises (or a
part thereof) sublet, Lessee shall have the right and
option to extend the original term of this Lease for
one further term of sixty (60) months. Such
extension of the original term shall be on the same
terms, covenants and conditions as provided for in
the original term except for this paragraph and
except that the rental during the extended term shall
be at the fair market rental then in effect on
equivalent properties, of equivalent size. Lessee
shall deliver written notice to Lessor of Lessee's
intent to exercise the renewal option granted herein
not more than six (6) months nor less than four (4)
months prior to the expiration of the original term
of this Lease. In the event Lessee's fails to
deliver such written notice within the time period
set forth above, Lessee's right to extend the term
hereof shall expire and be of no further force and
effect. In the event Lessor and Lessee fail to agree
in writing upon the fair market rental within thirty
(30) days after exercise by Lessee of this renewal
option then Lessee's right hereunder to extend the
term shall become null and void.
o that all other terms, covenants and agreements as
renewed, extended and amended shall remain the same.
IN WITNESS WHEREOF, the parties hereto have signed and sealed
this Extension to Lease Agreement this 20th day of March 1995.
WITNESS: Lessor: The Realty Associates Fund III, L.P.
/S/ Xxxxx Xxxxxx By: /S/ Xxxxxxx Xxxxx
Title: Chairman,
Realty Fund III LP, Inc.
WITNESS: Lessee: BeautiControl Cosmetics, Inc.
/S/ X.Xxxx Xxxxxxxx By: /S/ Xxxxxx X.Xxxxx
Title: Vice President Manufacturing
& Distribution
