FIFTH LEASE MODIFICATION
Exhibit
10.58
FIFTH
LEASE MODIFICATION
THE
LEASE AGREEMENT,
dated
January 28, 2003, and modified thereafter, by and between AMERICAN
CENTER LLC (“Landlord”),
a Michigan Limited Liability Company, and
LDMI TELECOMMUNICATIONS INC.
(“Tenant”), a Michigan Corporation, for Suites
400, 500, 1660 & 1680 consisting
of 43,373 rentable square feet and
Storage Space #7 and #8 consisting
of 250 square feet (the “Premises” or “demised premises”) in the AMERICAN
CENTER (the
“Building”) 00000 Xxxxxxxx Xxxx, Xxxxxxxxxx, Xxxxxxxx 00000 (the “Project”) is
hereby modified as follows:
| 1. |
Tenant
Monument Signage - During
the term of the Lease, Landlord shall permit Tenant to add, at Tenant’s
sole cost and expense, Tenant’s name (the “Tenant Monument Signage”) to
the exterior monument sign (the “Project Monument”). Tenant shall pay
Landlord Two
Hundred Fifty and 00/100 Dollars ($250.00)
per month as Additional Rent for the Tenant Monument Signage. Landlord
reserves the right to prescribe the position, size, color, lettering
style, and any graphics or logos for the Tenant Monument Signage
on the
Project Monument. Furthermore, Landlord reserves the right at any
time to
relocate the position of the Tenant Monument Signage anywhere on
the
Project Monument. In the event Landlord elects to such relocation
then
Landlord shall relocate the Tenant Monument Signage at is sole cost
and
expense. At the expiration of the Lease term, Tenant will, at its
sole
cost and expense, remove the Tenant Monument Signage (whether or
not
Landlord has ever relocated it) from the Project Monument and pay
the cost
of restoration with respect to any damage or color change to the
Project
Monument arising from the removal of the Tenant Monument
Signage.
|
| 2. |
Tenant’s
Designated Parking Spaces
-
Tenant shall lease one (1) additional Designated Parking Space at
an
increase of additional rent of $75.00,
for a total of eleven (11) Designated Parking
Spaces.
|
| 3. |
The
monthly Base Rent shall be as
follows:
|
|
Date
|
Office
Space
|
Storage
Space
|
Satellite
Dish
|
Monument
Signage
|
11
Designated Parking Spaces
|
Total
Monthly Base Rent
|
Total
Rent for the Period
|
|
2/1/05
- 5/31/05
|
$76,806.36
|
$239.58
|
$300.00
|
$250.00
|
$825.00
|
$78,420.94
|
$313,683.76
|
|
6/1/05
- 5/31/06
|
$78,613.57
|
$250.00
|
$300.00
|
$250.00
|
$825.00
|
$80,238.57
|
$962,862.84
|
|
6/1/06
- 5/31/07
|
$82,227.98
|
$260.42
|
$300.00
|
$250.00
|
$825.00
|
$83,863.40
|
$1,006,360.80
|
|
6/1/07
- 5/31/08
|
$84,035.19
|
$270.83
|
$300.00
|
$250.00
|
$825.00
|
$85,681.02
|
$1,028,172.24
|
|
6/1/08
- 5/31/09
|
$85,842.40
|
$281.25
|
$300.00
|
$250.00
|
$825.00
|
$87,498.65
|
$1,049,983.80
|
|
6/1/09
- 5/31/10
|
$87,649.61
|
$291.67
|
$300.00
|
$250.00
|
$825.00
|
$89,316.28
|
$1,071,795.36
|
|
6/1/10
- 5/31/11
|
$89,614.28
|
$302.08
|
$300.00
|
$250.00
|
$825.00
|
$91,291.36
|
$1,095,496.32
|
|
6/1/11
- 5/31/12
|
$91,264.03
|
$312.50
|
$300.00
|
$250.00
|
$825.00
|
$92,951.53
|
$1,115,418.36
|
|
6/1/12
- 5/31/13
|
$93,071.23
|
$322.92
|
$300.00
|
$250.00
|
$825.00
|
$94,769.15
|
$1,137,229.80
|
|
6/1/13
- 11/30/13
|
$93,071.23
|
$322.92
|
$300.00
|
$250.00
|
$825.00
|
$94,769.15
|
$568,614.90
|
|
|
|
|
|
|
|
Aggregate
|
$9,349,618.18
|
| 4. |
Non-Disclosure
- Tenant
will not record this Fifth Lease Modification or a memorandum hereof,
and
will not otherwise disclose the terms of this Fifth Lease Modification
to
anyone other than its attorneys, accountants or employees who need
to know
of its contents in order to perform their duties for Tenant. Any
other
disclosure will be an event of Default under the Lease. Tenant agrees
that
Landlord shall have the right to publish a "tombstone" or other
promotional description of this Fifth Lease
Modification.
|
Except
as
hereinabove specifically provided to the contrary, all of the remaining terms,
covenants, and agreements contained in said Lease, and all modifications
thereafter, shall remain in full force and effect and shall be applicable to
the
Premises as described in said Lease is hereby acknowledged, ratified, and
confirmed by the parties hereto.
|
LANDLORD:
|
TENANT:
|
||||||
|
AMERICAN
CENTER LLC,
a
Michigan Limited Liability Company
|
LDMI
TELECOMMUNICATIONS, INC., a
Michigan Corporation
|
||||||
|
By:
Southfield
Office
Manager, Inc.
|
|||||||
|
By:
|
/s/ Xxxx Xxxxxxxxx |
By:
|
/s/ Xxxxxxx Xxxxxxx | ||||
|
Printed:
|
Xxxx
Xxxxxxxxx
|
Printed:
|
Xxxxxxx Xxxxxxx | ||||
|
Its:
|
Secretary
|
Its:
|
CFO | ||||
|
Date:
|
2-1-05 |
Date:
|
2-1-05 | ||||
