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Exhibit 10.17
FIRST AMENDMENT TO LEASE
This First Amendment To Lease (hereinafter referred to as "Amendment") is
entered into by and between AMERICAN NATIONAL BANK and TRUST COMPANY OF CHICAGO,
not personally but solely as Trustee under Trust No. 59948 (hereinafter referred
to as "Landlord") and Security Associates International, Inc. (hereinafter
referred to as "Tenant").
A. Whereas, Landlord and Tenant entered into a lease dated November 21,
1995, (hereinafter referred to as the "Lease") covering certain premises known
as Suite 100 occupying approximately 4,520 rentable square feet located at 0000
Xxxxx Xxxxxxxxx Xxxxxxx Xxxx, Xxxxxxxxx Xxxxxxx, Xxxxxxxx 00000 (the
"Building"), as more fully described in said Lease.
B. Whereas, Landlord and Tenant now desire to amend the Lease modifying the
Lease and leasing an additional 2,561 square feet known as Suite 110 at a rental
and upon all the other terms, covenants and conditions as hereinafter set forth,
but not otherwise.
Now, therefore, in consideration of the mutual covenants and conditions herein
contained and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:
1. Length of Term. The new lease term for Suite 110 shall commence on
January 1, 1997 for four (4) years and shall terminate on December 31, 2000. The
new term shall remain in full force and effect without interruption for four (4)
years except if an event of default occurs.
2. Net Base Rent. The Net Base Rent is listed out on the attached Exhibit
"E" broken down by month. The annual Net Base Rent payments are as follows:
Year 1 $26,318.28
Year 2 $27,107.83
Year 3 $27,921.06
Year 4 $28,758.70
3. Operating Expenses. The Building's Annual Operating Expenses shall be
paid in addition to and apart from the Net Base Rent. These expenses shall be
billed as additional rent in the form of monthly progress payments based upon an
occupancy percentage of 4.145%.
4. Real Estate Taxes. The Building's Real Estate Taxes shall be paid in
addition to and apart from the Net Base Rent. These expenses shall be billed as
additional rent in the form of monthly progress payments based upon an occupancy
percentage of 4.145%.
5. Tenant Improvements. All construction costs to remodel Xxxxx 000 xxx
Xxxxx 000 shall be borne by the Landlord. The Scope of work for these tenant
improvements are listed out on the attached Exhibit "F".
6. Payment of Rent. All rent due under the Lease and this Amendment, shall
be paid to: Arlington Associates, c/o Liz-Green, Inc. as the Managing Agent,
(the "Manager"). Checks or other form of payment shall be mailed or delivered to
the following address:
Liz-Green, Inc.
Suite 107
2101 S. Xxxxxxxxx Xxxxxxx Xxxx
Xxxxxxxxx Xxxxxxx, Xxxxxxxx 00000
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7. Brokers. Lessee and Lessor represent and warrant to each other that they
have not dealt with any broker or finder in connection with this First Amendment
To Lease other than Liz-Green, Inc. Lessor hereby agrees to be responsible for
and pay any and all brokerage commissions, fees or claims of any kind owing to
Broker in connection with this Amendment, and shall indemnify and hold Lessee
harmless from any and all reasonable attorneys' fees-incurred by Lessee in
connection therewith. Lessee agrees to indemnify and hold Lessor harmless from
and against any claims, costs, expenses (including court costs and reasonable
legal fees) and other liabilities incurred by Lessor by reason of any claim or
action for a commission or other compensation by any other broker or finder, if
any, with which Lessee has dealt with respect to this Agreement. Lessor shall
have no liability for any brokerage commission arising out of a sublease or
assignment by Lessee. The provisions of this paragraph shall survive the
expiration or sooner termination of this Lease.
8. No Other Changes. Except as and to the extent expressly provided for in
this First Amendment To Lease, the Lease shall remain in full force and effect
and shall be applicable according to all of its terms to Xxxxx 000 xxx Xxxxx
000.
9. Entire Agreement. This Amendment constitutes the entire understanding of
the parties regarding this First Amendment To Lease. There are no promises,
representations or understandings, other than as set forth in these documents.
IN WITNESS WHEREOF, this Amendment To Lease is executed as of December
9, 1996.
TENANT: Security Associates International, Inc.
By: /s/ Xxxxx X. Xxxxxxx
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Title: President
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Date: 12/11/96
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LANDLORD: AMERICAN NATIONAL BANK AND TRUST COMPANY OF CHICAGO, not
personally but solely as Trustee under its Trust No. 59948
By: /s/ Xxxxxxx Xxxxxxxx
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Title:
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