AMENDMENT TO LEASE
AGREEEMENT made as of October __, 2004 between CAMBR Company, Inc.,
having an office at 000 Xxxxx Xxxxxx, Xxxxxxxx, Xxx Xxxx 00000 (hereinafter
referred to as "Landlord") and RMS Titanic, Inc. having an address at 0000
Xxxxxxxxx Xxxx, XX, Xxxxx 0000, Xxxxxxx, XX 00000 (herein referred to as
"Tenant").
WITNESSETH:
WHEREAS, Landlord and Tenant have heretofore entered into a lease dated
as of October 18, 2001 (the "Lease") for space (the "Demised Premises"),
consisting of offices and warehouse located at _______________, Xxxxxxx, XX
00000; and
WHEREAS, the term of the Lease will expire on December 31, 2004; and
WHEREAS, the parties have agreed to renew the Lease, as herein
provided.
NOW, THEREFORE, in consideration of the promises contained herein and
other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the parties hereto agree as follows:
1. The Lease is hereby renewed for a period of three years
commencing on January 1, 2005 on the same terms and conditions
except as modified herein, and the term of the Lease is
extended so that it shall now expire on December 31, 2007.
2. For the period January 1, 2005 through December 31, 2007,
Tenant shall pay rent as follows:
For the period January 1, 2005 through December 31, 2005:
$6,855.00/month.
For the period January 1, 2006 through December 31, 2006:
$6,992.00/month.
For the period January 1, 2007 through December 31, 2007:
$7,132.00/month.
Said rent to be paid monthly in advance, on the first day of
each and every month.
3. The parties acknowledge that the base year for the calculation
of real estate taxes is 2001 and Tenant shall pay the
increased real estate taxes above the base year during the
entire term January 1, 2005 through December 31, 2007, as well
as during the term of any subsequent option.
4. Tenant shall have an option to extend the lease for an
additional three-year period from January 1, 2008 through
December 31, 2010. Not more than six (6) months and not less
than three (3) months prior to the expiration of this Lease as
amended, Tenant may elect such option by delivery of a written
notice to that effect to the Landlord. The rent for the option
period shall be as follows:
For the period January 1, 2008 through December 31, 2008:
$7,275.00/month.
For the period January 1, 2009 through December 31, 2009:
$7,457.00/month.
For the period January 1, 2010 through December 31, 2010:
$7,643.00/month.
5. Except as expressly modified by this Amendment, all terms,
covenants and conditions of the Lease shall continue in full
force and effect. The parties by execution of this Amendment
hereby ratify and confirm the terms of the Lease as herein
modified.
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6. Reference is made to the "Addendum to Lease Agreement" between
the parties, dated as of October 18, 2001. That agreement is
hereby cancelled and of no further effect. It is superseded by
the agreement herein between the parties.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the day and year first above written.
Attest CAMBR Company, Inc.
____________________ By: ____________________
Secretary
Attest RMS Titanic, Inc.
____________________ By: ____________________
