EXHIBIT 10.04(b)
NELCO TECHNOLOGY, INC.
Subsidiary of Nelco International Corp.
August 28, 1997
SPT Real Estate Corp. E
c/o Xx. Xxxxxxxx Xxxxxxxx
District Manager
RREEF Management Company
0000 X. Xxxxxxxxx Xxxx
Xxxxx 000X
Xxxxxxx, XX 00000
Ladies and Gentlemen:
Pursuant to Schedule 4 to the Indenture of Lease dated February 15,
1983, as amended by a First Amendment to Lease dated December 10,
1992, between SPT Real Estate Corp. E, successor to Presidio
Associates, L.P., Xxxxxxx Equities, L.P., Xxxxx X. Xxxxxxxx, Xxxx X.
Xxxxxxx and Xxxxxxxx X. Xxxxxxx, successors to CMD Southwest, Inc.
(as Lessor) and Nelco Technology, Inc. (as Lessee) for the premises
commonly known as 0000 Xxxx Xxxxxx Xxxxx, Xxxxx, Xxxxxxx, 00000,
Nelco Technology, Inc. hereby notifies SPT Real Estate Corp. E that
it is exercising its option to extend the Lease for a period of five
(5) years commencing on March 1, 1998 and ending on February 28,
2003.
Please advise us of the amount of the rental adjustment applicable
to the extended period once you are able to make that determination
following the availability of the appropriate information. Until we
receive such notification, we will continue to pay monthly rental in
the same amount as presently in effect.
Please contact the undersigned to discuss any questions pertaining
to this lease extension.
Sincerely,
Xxx Xxxxx Xxxxx
Vice President/General Manager
MS/rfb
cc/Xxxxx G11huley, Park Electrochemical Corp.
Xxxx Xxxxx, Nelco International Corporation
SECOND AMENDMENT TO LEASE
THIS AMENDMENT, dated this 2nd day of February, 1998 between SPT Real Estate
Corp. E, a Delaware corporation ("Landlord") and Nelco Technology, Inc., an
Arizona corporation ("Tenant"), is for the premises located in the City of
Tempe, County of Maricopa, State of Arizona, commonly known as 0000 Xxxx
Xxxxxx Xxxxx (Renewal Premises").
WITNESSETH:
WHEREAS, Landlord's predecessor CMD Southwest, Inc., an Arizona
corporation and Tenant's predecessor Nelco Products, Inc. entered into that
certain Lease dated February 15, 1983 and amended by the First Amendment to
Lease dated December 10, 1992 (hereinafter collectively referred to as the
"Lease"); and
WHEREAS, Landlord and Tenant desire to amend the Lease as more fully set
forth below.
NOW, THEREFORE, in consideration of the mutual covenants and conditions
contained herein and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties agree as follows:
1. DEFINITIONS. Unless otherwise specifically set forth herein, all
capitalized terms herein shall have the same meaning as set forth in the
Lease.
2. AMENDMENTS.
A. Effective March 1, 1998 The Renewal Term of the Lease shall
hereby be March 1, 1998 thru February 28. 2003.
B. Effective March 1, 1998 the Annual Net Basic Rent for a
period of five (5) years shall hereby be amended to be the
greater of the following:
a. The Market Rental; or
b. An amount equal to the product of the Market Rental
multiplied by a fraction which has as its
denominator the All Item Revised Consumer Price
Index for All Urban Consumers-United States City
Average (1967-100), issued by the Bureau of Labor
Statistics, U.S. Department of Labor, published
for the month of March 1993 and as its numerator,
said index published for the month of March 1998.
3. TENANT'S AUTHORITY.
If Tenant is a corporation, Tenant represents and warrants that this
Amendment and the undersigned's execution of this Amendment has been
duly authorized and approved by the corporation's Board of Directors.
The undersigned officers and representatives of the corporation
executing this Amendment on behalf of the corporation represent and
warrant that they are officers of the corporation with authority to
execute this Amendment on behalf of the corporation.
4. INCORPORATION.
Except as modified herein, all other terms and conditions of the Lease
between the parties above described, as attached hereto, shall continue
in full force and effect.
5. LIMITATION OF LANDLORD'S LIABILITY.
Redress for any claims against Landlord under this Amendment or under
the Lease shall only be made against Landlord to, the extent of
Landlord's interest in the property to which the Premises are a part.
The obligations of Landlord under this Amendment and the Lease shall not
be personally binding on, nor shall any resort be had to the private
properties of, any of its trustees or board of directors and officers,
as the case may be, the general partners thereof or any beneficiaries,
stockholders, employees or agents of Landlord, or the investment
manager.
IN WITNESS WHEREOF Landlord and Tenant have executed this Second Amendment
to Lease as of
the day and year first written above.
LANDLORD: TENANT:
SPT REAL ESTATE CORP. E., NELCO TECHNOLOGY, INC.
a Delaware corporation an Arizona corporation
By: RREEF MANAGEMENT COMPANY,
a California corporation
By: By:
Xxxxxxxx Xxxxxx Xxxxxxx X. Xxxxx
District Manager Vice President and General Manager
Date: 3/5/98 Date: 3/4/98
