THIRD AMENDMENT TO LEASE
This Third Amendment to Lease is made and entered into between MERIT
INDUSTRIAL PROPERTIES LIMITED PARTNERSHIP ("Lessor") and AMX CORPORATION
("Lessee") for and in consideration of One Dollar ($1.00) and other good and
valuable consideration, receipt of which is hereby acknowledged.
This Third Amendment to Lease shall modify that certain written Lease
Agreement dated January 2, 1992, the Amendment to Lease dated August 1, 1994,
and the Second Amendment to Lease dated February 1, 1997 between Lessor and
Lessee (collectively the "Lease"), for the rental of the following described
Premises:
11901, 11945 AND 00000 XXXXXXXXXX XXXXX
XXXXXX, XXXXX 00000
48,672 SQUARE FEET
The sole intent of this Third Amendment to Lease is to modify the Lease by
incorporating the following provisions:
1. TERM:
The term of the Lease shall be extended six (6) months, so that the end
of the term for the 48,672 square feet of Premises is July 31, 1999.
2. BASE RENT:
Lessee agrees to pay Lessor monthly Base Rent for the 48,672 square feet
of Premises according to the following schedule:
MONTHS BASE RENT
------ ---------
February 1997 through September 1997 $22,848.00
October 1997 through July 1999 $25,350.00
3. ESCROW PAYMENTS:
Lessee agrees to pay its proportionate share of expenses for the 48,672
square feet of Premises as defined in Paragraph 2.C. of the Lease
Agreement.
All other terms and conditions of the original Lease Agreement dated January 2,
1992, the Amendment to Lease dated August 1, 1994, and the Second Amendment
to Lease dated February 1, 1997 shall remain in effect and unchanged.
AGREED AND ACCEPTED THIS 1ST DAY OF MAY, 1997.
LESSOR: MERIT INDUSTRIAL PROPERTIES LIMITED PARTNERSHIP
By: /s/ XXXX XXXXXXX
--------------------------
Xxxx Xxxxxxx
Title: Authorized Agent
-----------------------
LESSEE: AMX CORPORATION
By: /s/ XXX XXXXX
---------------------------
Title: President
------------------------
