BY OVERNIGHT MAIL AND CERTIFIED MAIL - RETURN RECEIPT REQUESTED
NOTICE OF EXERCISE OF RENEWAL OPTION
August 27, 1996
To: Riverside Associates Limited Partnership
Lincoln Property Company
0000 Xxxxxx Xxxxxxxxx
Xxxxx 000
Xxxxxxxxx, Xxxxxxxx 00000
Re: Office/Warehouse Lease Agreement dated December 10, 1991, by and between
Riverside Associates Limited Partnership as Landlord and Xxxxxxxx Dental
Products, Inc. as Tenant (the "Lease") for the premises commonly known as
0000 Xxxxxxxx Xxxxx, Xxxxxxx, Xxxxxxxx 00000
PLEASE TAKE NOTICE that the undersigned Xxxxxx, pursuant to Paragraph 45 of the
above-referenced Lease, does hereby exercise its option to xxxxx said Lease for
an additional term of five (5) years to commence on March 1, 1997, and to expire
on February 28, 2002, upon the terms and conditions set forth in the Lease.
Please acknowledge your receipt of this Notice by signing the enclosed duplicate
original of this Notice where indicated and returning same to the undersigned in
the self-addressed, stamped envelope provided.
If you have any questions, please advise.
XXXXXXXX DENTAL PRODUCTS, INC.
By /S/ XXXXXXX X. XXXXXXX
----------------------------------------
(Vice) President
The undersigned hereby acknowledges receipt of the foregoing Notice of Exercise
of Renewal Option and agrees that the Lease is hereby extended by five (5) years
through February 28, 2002, at such rental rates and upon such terms as are set
forth in such Lease.
RIVERSIDE ASSOCIATES LIMITED PARTNERSHIP
By X. XXXX XXXX
------------------------------
Authorized Agent
cc: Xxxxx, Xxxxx & Ryd
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August 27, 1996
BY OVERNIGHT MAIL AND CERTIFIED MAIL - RETURN RECEIPT REQUESTED
Riverside Associates Limited Partnership
Lincoln Property Company
0000 Xxxxxx Xxxxxxxxx, Xxxxx 000
Xxxxxxxxx, Xxxxxxxx 00000
Attention: Xx. Xxxx Xxx
Re: Office/Warehouse Lease Agreement dated
December 10, 1991, by and between
Riverside Associates Limited
Partnership, as Landlord, and Xxxxxxxx
Dental Products, Inc., as Tenant, (the
"Lease") for the premises commonly known
as 0000 Xxxxxxxx Xxxxx, Xxxxxxx,
Xxxxxxxx (the "Premises")
Dear Mr. Xxx:
This shall confirm the parties' agreement that the above referenced Lease, as
extended by Notice of Exercise of Renewal Option dated August 27, 1996, shall be
amended as follows:
1. On or before March 1, 1997, Landlord shall, at its sole cost and
expense: (a) paint the office area of the Premises with satin or
semi-gloss paint, the color of which shall be selected by Tenant; and
(b) clean the carpet within the Premises.
2. Notwithstanding anything to the contrary contained in the Lease,
Tenant's sole obligation for the maintenance and/or repair of the HVAC
system in the Premises shall be to keep in effect during the entire
Renewal Term, including any extensions thereof, at Tenant's sole cost
and expense, a maintenance agreement with an established contractor
providing for periodic (at least quarterly) inspection, servicing and
repair (the "Work") of the HVAC system serving the Premises, which
Work shall include, without limitation, the lubrication of all parts,
the inspection of all cooling towers, the inspection and correction of
all fluid levels, the replacement of all belts, bearings and filters
and all other services customarily required for preventative
maintenance.
3. Notwithstanding anything to the contrary contained in the Lease,
Tenant's sole obligation for the maintenance and/or repair of the
sprinkler system in the Premises shall be to keep in effect during the
entire Renewal Term, including any extensions thereof, at Tenant's
sole cost and expense, a maintenance agreement with an established
contractor providing for periodic (at least annual) inspection,
servicing and repair of the sprinkler system serving the Premises.
4. Paragraph 27 of the Lease be and hereby is amended to exclude from
such Landlord's Lien any and all of Tenant's inventory, whether such
inventory is located within the Premises or elsewhere.
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Xx. Xxxx Xxx
August 27, 1996
Page 2
5. If, at the end of the Renewal Term (the "First Renewal Term"), Tenant
is not in material default of any of the terms, conditions, or
covenants of the Lease, as modified herein, Tenant, but not any
assignee or subtenant of Tenant, is hereby granted one (1) option to
renew this Lease for an additional term of five (5) years (the "Second
Renewal Term") upon the same terms and conditions contained in the
Lease, as modified herein, with the following exceptions:
a. The Second Renewal Term will contain no further renewal options
unless granted by Landlord in writing; and
b. Rental during the Second Renewal Term shall be the market rate
for similar office/warehouse projects within the Belcamp,
Maryland area as agreed upon by Landlord and Tenant within sixty
(60) days after Tenant exercises this Second Renewal Option;
provided, however, that said rental during the Second Renewal
Term shall not be less than the rental in effect during the First
Renewal Term.
If Tenant desires to renew this Lease for a Second Renewal Term,
Tenant will notify Landlord of its intention to renew no later than
six (6) months prior to the expiration date of the First Renewal Term.
Please confirm your agreement with the foregoing by signing the enclosed copy of
this letter where indicated and returning same to me via facsimile and mail.
Thank you for your cooperation.
Very truly yours,
XXXXXXXX DENTAL PRODUCTS, INC.
By /S/ XXXXXXX X. XXXXXXX
----------------------------------------
Xxxxxxx X. Xxxxxxx, Vice President
cc: Xxxxx, Xxxxx & Ryd
THE UNDERSIGNED HEREBY ACKNOWLEDGES AGREEMENT
WITH THE FOREGOING AMENDMENTS TO THE ABOVE
REFERENCED LEASE:
RIVERSIDE ASSOCIATES LIMITED PARTNERSHIP
By X. XXXX XXXX
----------------------------------------
Authorized Agent
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