EXTENSION OF LEASE
XXXXXX'X, a partnership, as Landlord and ROOM PLUS OF EAST HANOVER, INC., a
corporation of New Jersey, as Tenant, entered into a lease for a portion of a
building located at #000 Xxxxx 00, Xxxx Xxxxxxx, XX consisting of approximately
4,000 square feet, which commenced on August 1, 1983. The original term of five
years under that lease has passed and the single five year option period will
terminate on July 31, 1998.
The parties wish to extend the lease under all the same terms and
conditions for a period of five years beginning on August 1, 1998 and
terminating on July 31, 2003 except that the fixed annual rental shall be
$82,000.00 per year payable $6,833.33 per month.
If the tenant shall not then be in default in performing any of its
obligations under this lease, then the tenant shall have the option of extending
the term of this lease for an additional five (5) year period from August 1,
2003 through July 31, 2008 at a rental of $90,000.00 per year for each of the
five years, under all the same conditions except for the amount of the rent.
Notice of tenant's exercise of the renewal option shall be given to the
Landlord, in writing, by certified mail, at least 6 months prior to the
expiration of the original term of this extension, i.e., by January 31, 2003.
XXXXXX'X a partnership
By: /s/ Xxxxxx X. Xxxxxx
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XXXXXX X. XXXXXX,
a partner Landlord
ROOM PLUS OF EAST HANOVER, INC.
By: /s/ Xxxxx X. Xxxxxx
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XXXXX X. XXXXXX
President, Tenant
ATTEST:
/s/ Xxxx Xxxxxx
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Secretary
ROOM PLUS OF EAST HANOVER, INC.
