SECOND AMENDMENT
SECOND
AMENDMENT
This
Second Amendment (the "Amendment") is made and entered into as of the 16th
day
of January, 2007 by and between S
& C DEVELOPMENT COMPANY, LLC ("Landlord”)
and SCP
DISTRIBUTORS,
LLC ("Tenant").
WITNESSETH
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A.
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WHEREAS,
Landlord and Tenant are parties to that certain lease dated
October
19, 1999 for
space currently containing approximately 12,500
square
feet (the “Premises”) and the address of which is 00000
Xxxxxx Xxxx, Xxxxxxxxxx, Xxxxxxxxx 00000,
which lease has been previously amended by Lease Amendment No. One
dated
May 26, 2000 (collectively, the “Lease”);
and
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B.
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WHEREAS,
Tenant and Landlord mutually desire that the Lease be amended on
and
subject to the terms and conditions hereinafter set
forth;
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NOW,
THEREFORE,
in
consideration of the mutual covenants and agreements herein contained
and
other good and valuable consideration, the receipt and sufficiency
of
which are hereby acknowledged, Landlord and Tenant agree as
follows:
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I.
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Extension.
The Lease Term is hereby extended for a period of seven (7) years
and
shall expire on December 31, 2013 ("Extended Expiration Date"), unless
sooner terminated in accordance with the terms of the Lease. That
portion
of the Lease Term commencing the day immediately following the Prior
Expiration Date ("Extension Date") and ending on the Extended Expiration
Date shall be referred to herein as the "Extended Term".
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II.
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Monthly
Rent.
As
of the Extension Date, the schedule of monthly installments of Base
Rental
payable with respect to the Premises during the Extended Term is
the
following:
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| A. |
Twelve
(12) equal installments of $7,031.25 each payable on or before the
first
day of each month during the period beginning January 1, 2007 and
ending
December 31, 2007.
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| B. |
Twelve
(12) equal installments of $7,242.19 each payable on or before the
first
day of each month during the period beginning January 1, 2008 and
ending
December 31, 2008.
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| C. |
Twelve
(12) equal installments of $7,459.45 each payable on or before the
first
day of each month during the period beginning January 1, 2009 and
ending
December 31, 2009.
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| D. |
Twelve
(12) equal installments of $7,683.24 each payable on or before the
first
day of each month during the period beginning January 1, 2010 and
ending
December 31, 2010.
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| E. |
Twelve
(12) equal installments of $7,913.73 each payable on or before the
first
day of each month during the period beginning January 1, 2011 and
ending
December 31, 2011.
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| F. |
Twelve
(12) equal installments of $8,151.15 each payable on or before the
first
day of each month during the period beginning January 1, 2012 and
ending
December 31, 2012.
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| G. |
Twelve
(12) equal installments of $8,395.68 each payable on or before the
first
day of each month during the period beginning January 1, 2013 and
ending
December 31, 2013.
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| III. |
Other
Pertinent Provisions.
Landlord and Tenant agree that, effective as of the date hereof (unless
different effective date(s) is/are specifically referenced in this
Section) the Lease shall be amended in the following additional
respects:
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| A. |
Tenant
shall have the option (the “Option”) to extend the Lease Term for one (1)
additional term of seven (7) years (the “Extended Term”) on all of the
same terms and conditions set forth in the Lease. To exercise the
Option,
Tenant shall notify Landlord in writing ninety (90) days prior to
the
expiration of the Lease Term or Extended Term.
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| B. |
Landlord
agrees and confirms that there are no offsets or credits against
Rent, no
Rent has been paid in advance, and no Rent, fees, dues, expenses,
or other
amounts are presently due and/or owing under the Lease as of this
Amendment Date. Landlord further agrees and confirms that there are
no existing claims or causes of action against Tenant arising out
of or
related to the Lease, nor are there any existing defenses which Landlord
has against the enforcement of the Lease by Tenant, and to the extent
such
claims and defenses exist, same are hereby waived. Landlord agrees
to and does hereby release and forever discharge Tenant from all
financial
and other liability arising under the Lease or resulting from Tenant’s
lease, use or occupancy of the leased premises and surrounding area.
Landlord recognizes that Tenant is relying on the foregoing
representations and agreement in deciding to amend or extend the
Lease.
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Except
as
herein modified or amended, the provisions, conditions and terms of the Lease
shall remain unchanged and in full force and effect.
IN
WITNESS WHEREOF, Landlord and Tenant have duly executed this Amendment as of
the
day and year first above written.
WITNESSES: LANDLORD:
S
& C DEVELOPMENT COMPANY, LLC
/s/
Xxxxx X. Xxxxxx
By:/s/
A.
Xxxxx Xxxx
Name:
A.
Xxxxx Xxxx
/s/
Xxxxxx Xxxxxx
Title:Owner/Manager
Date: 01/17/2007
WITNESSES: TENANT:
SCP
DISTRIBUTORS,
LLC
/s/
Xxxx Xxxxxxx
By:/s/
Xxxxxxx X Xxxxxx
Name: Xxxxxxx
X. Xxxxxx
/s/
J
Xxxxxxx
Title:
Vice
President
Date: 01/16/2007
