EXHIBIT 10.5
FIRST AMENDMENT TO DEED OF COMMERCIAL OFFICE LEASE
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This FIRST AMENDMENT TO DEED OF COMMERCIAL OFFICE LEASE ("Amendment")
is made as of the 29th day of September, 2005, by and between BDC SPOTSYLVANIA
LLC ("Landlord"), and E-OIR TECHNOLOGIES, INC., a Virginia corporation
("Tenant").
RECITALS
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Whereas, Landlord and Tenant are parties to that certain Deed of
Commercial Office Lease dated May 16, 2005 (the "Lease's for the premises
consisting of six thousand seven hundred fifty (6,750) rentable square feet
known as Suite 220 on the second floor of the South Wing and one hundred
fifty-one (151) rentable square feet known as Storage-A (formerly called Suite
190) on the fast floor of the South Wing (the "Premises") in that certain
building located at 00000 Xxxxxxxxxxxx Xxxxxx, Xxxxxxxxxxxxxx, Xxxxxxxx.
Capitalized terns, not otherwise defined herein, shall have the meanings
ascribed to them in the Lease.
Whereas Landlord and Tenant wish to modify the terms of the Lease.
NOW THEREFORE, intending to be legally bound, Landlord and Tenant
hereby agree that the Lease shall be amended as follows:
1. EXCESS COSTS. Every reference in Section 2.4.1 of the Lease to "Ten"
and "10" shall be deleted and inserted in lieu thereof shall be "Twenty" and
"20" respectively, to the effect that Tenant may elect to amortize the first
Twenty Dollars ($20.00) per square foot of Excess Costs in the Basic Monthly
Rent over the initial term of five (5) years at eight percent (8(degree)/a) per
annum.
2. SECURITY DEPOSIT. Simultaneously with the execution hereof, Tenant
shall pay Ten Thousand Two Hundred Ninety-Four Dollars and 88/100 ($10,294.88)
to increase the Security Deposit held tinder Section 4 of the Lease to a total
of Thirty Thousand Eight Hundred Eighty-Four Dollars and 64/100 ($30,884.64).
Reference to the second paragraph of Section 4.2 to "Ten Thousand Two Hundred
Ninety-Four Dollars and 88/100" and "$10,294.88" shall be deleted in full and
inserted in lieu thereof shall be "Twenty Thousand Five Hundred Eighty-Nine
Dollars and 76/100" and "$20,589.76" respectively, to the effect that upon
written request made by Tenant to Landlord sent after the expiration of the
first twelve (12) full calendar months for which Tenant is obligated to pay
Basic Monthly Rent hereunder, the Tenant shall be entitled to the return of
Twenty Thousand Five Hundred Eighty-Nine Dollars and 76/100 ($20,589.76) out of
the Security Deposit; provided however, that if Tenant has committed a default,
as of the date of Landlord's receipt of the timely-given request notice, then
Tenant shall not be so entitled to the return of such portion of the Security
Deposit.
3. RENAMING OF STORAGE AREA. Suite 190 is hereby renamed as
"Storage-A".
4. BROKERAGE. Landlord and Tenant each represent that they have had no
dealing with any real estate broker or other person with respect to this
Amendment. Tenant agrees to indemnify and hold harmless Landlord from any claims
for any fees or commissions that are payable to any broker, individual or entity
asserting a claim for a fee or commission with respect to this Amendment, which
indemnification obligation shall survive the expiration or termination of the
Lease.
5. RATIFICATION OF LAW, EFFECT OF AMENDMENT. The Lease, as amended by
this Amendment, is hereby ratified and confirmed, and all other terms and
conditions of the Lease not addressed in this Amendment shall remain in full
force and effect; provided, however, that in the event of a conflict between
this Amendment and the Lease, the provisions of this Amendment are paramount and
supersede any such conflicting provisions. Except as may be expressly provided
in the Lease or herein, if at all, Tenant has no rights to terminate the Lease,
and the provisions of any law to the contrary are hereby waived.
6. SUCCESSORS AND ASSIGNS. This Amendment shall bind and inure to the
benefit of the parties hereto and their respective heirs, executors,
administrators, legal representatives, successors and assigns, subject to the
Lease restrictions on assignment and other transfers.
7. COUNTERPARTS . This Amendment maybe executed in counterparts, each
of which shall be deemed to be an original, and all of which together shall
constitute one and the same agreement, fully binding upon, and enforceable
against the parties hereto.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the
year and date first above written.
WITNESS OR ATTEST: LANDLORD:
BDC SPOTSYLVANIA LLC
By: Rock Creek Realty LLC, Sole Member
By: Xxxxxxxxx Development Corporation,
Managing Member
By. /s/ Xxxxxx X. Xxxxxxx
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Name: Xxxxxx X. Xxxxxxx
Title: Executive Vice President
WITNESS OR ATTEST: TENANT:
E-OIR TECHNOLOGIES, INC.
By: /s/ Xxxxx Xxxxxx
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Name (Printed): Xxxxx Xxxxxx
Title: EVP
