LEASE AMENDMENT AND EXTENSION AGREEMENT
Exhibit 10.8
In reference to the lease dated September 1, 2006 (hereinafter referred to
as the "Lease"), signed by Deep Down, Inc., a Delaware corporation (hereinafter
referred to as the "Tenant") and JUMA, L.L.C. (hereinafter referred to as the
"Landlord"), the Tenant leases the Leased Premises from the Landlord.
Tenant wishes to lease additional land and building(s), if any, adjacent to
the Leased Premises together comprising Leased Premises from Landlord. Tenant
and Landlord wish to extend the Lease Term to August 31, 2013. Tenant and
Landlord wish to adjust the Base Rent for the lease of additional Leased
Premises.
In consideration of the mutual agreements in this lease amendment and
extension (the "Lease Amendment"), the parties agree as follows:
CONSTRUCTION
This Lease Amendment will be interpreted along with the Lease and, except
as amended by this document, all of the terms, and conditions of the Lease will
remain in full force and effect and are re-confirmed by this Lease
Amendment.
DEFINED TERMS
All terms used in this Lease Amendment have the meanings given to them in
the Lease unless otherwise defined in this Lease Amendment.
LEASE TERM
The Lease Term will be extended to and terminate on August 31, 2013.
BASE RENT
Beginning on this 1st day of May, 2008, the
Tenant will pay the base rent in the amount of $ 15,000.00, per month payable in
advance on the first day as described in Article 2.2 of the Lease.
ADDITIONAL
RENT
The Tenant is responsible for paying real estate taxes, operating expenses,
leasehold improvements to date and thereafter, and other additional rent, if
any, as described in Article 2 of the Lease.
In witness, the Landlord and Tenant duly executed this lease amendment and
extension agreement, as of the day and year written below.
ACCEPTANCE
The Tenant and Landlord accept this Offer to Lease and agree to be bound by
the terms and conditions herein: SIGNED AND DATED on this 1st day of May,
2008.
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TENANT:
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LANDLORD:
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JUMA,
L.L.C.
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By: /s/
Xxxxxx X. Xxxxx
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By: /s/ Xxxxxx
X. Xxxxx
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Xxxxxx X.
Xxxxx, President
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Xxxxxx X.
Xxxxx, President
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