SECOND AMENDMENT TO LEASE AGREEMENT
SECOND
AMENDMENT TO LEASE AGREEMENT
THIS
SECOND AMENDMENT TO LEASE AGREEMENT (the “Second Amendment”) is made and entered
into by and between Bank of America, N.A. a national banking association (the
“Landlord”) and Xxxxxx X. Xxxxxxx, an individual (the “Tenant”).
WITNESSETH:
WHEREAS,
Landlord and Tenant entered into that certain Office Lease Agreement, dated
as
of November 20, 1998, further amended by that certain First Amendment to Lease
Agreement, dated February 15, 2002, as same may be hereafter modified, extended
renewed or amended (hereinafter collectively referred to as the “Lease”),
wherein Landlord leased to Tenant approximately 999 rentable square feet (the
“Premises”) located at North Tower, 000 Xxxxx Xxxxxxxxx, Xxxxx 000, Xxxxxx
Xxxxxxx, Xxxxx, all as is more fully described in the Lease;
WHEREAS,
Landlord and Tenant desire to amend the Lease as set forth below.
NOW,
THEREFORE, in consideration of the mutual covenants set forth herein, Ten
Dollars ($10.00) and other good and valuable consideration, the receipt and
sufficiency of which are hereby confessed and acknowledged, Landlord and Tenant
agree to amend, and do hereby amend, the Lease as follows:
1. Extension
and Renewal.
The
following paragraphs replace any inconsistent provisions in the Lease pertaining
to Term, Rent or Renewal.
a. Lease
Term.
The
Lease is hereby extended for an additional term commencing June 1, 2005 through
May 31, 2008 (the “Second Renewal Term”).
b. Second
Renewal Term Base Rent.
For the
period of June 1, 2005 through may 31, 2006 the base rent shall be $1,080.59
per
month; for the period of June 1, 2006 through May 31, 2007, the base rent shall
be $1,113.01 per month; and for the period of June 1, 2007 through May 31,
2007,
the base rent shall be $1,146.40. Tenant shall be required to make quarterly
rent payments in advance, with the first payment for the months of June, July,
and August due as of June 1, 2005, or upon execution of this Second Amendment,
whichever comes later.
c. Late
Payment.
Should
Tenant fail to make payment the by the tenth (10th)
of the
month in which payment is due, a late payment notice letter will be sent to
the
Tenant within three days. Tenant will have a ten (10) day cure period in which
to bring the account current. After that time, should the account remain in
a
delinquent status, the Tenant will receive a letter giving him notice to vacate
the premises within thirty (30) days.
d. Operating
Expense Charges.
Effective June 1, 2005, Articles 1.13, 2.2 and 2.3 of the Lease will be deleted
and of no further force and effect.
e. Expansion/Relocation.
Tenant
shall have the right to expand into additional adjacent space, should it become
available, or to relocate to a larger space within the building.
f. Tenant
Improvements.
Tenant
shall accept the Leased Premises “as is”.
2. Miscellaneous.
a. Counterparts.
This
Second Amendment may be executed in multiple counterparts, and each counterpart
when fully executed and delivered shall constitute an original instrument,
and
all such multiple counterparts shall constitute but one and the same
instrument.
b. Entire
Agreement.
This
Second Amendment sets forth all covenants, agreements and understandings between
Landlord and Tenant with respect to the subject matter hereof, and there are
no
other covenants, conditions or understandings, either written or oral, between
the parties hereto except as set forth in this Second Amendment.
c. Full
Force and Effect.
Except
as expressly amended hereby, all other terms and provisions of the Lease remain
unchanged and continue to be in full force and effect.
d. Conflicts.
The
terms of this Second Amendment shall control over any conflicts between the
terms of the Lease and the terms of this Second Amendment.
e. Successors
and Assigns.
This
Second Amendment shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns.
f. Compliance
with Warranties, No Default.
The
representations and warranties set forth in the Lease as amended hereby shall
be
true and correct with the same effects as if made on the date of this Second
Amendment, and no uncured default under the Lease has occurred or is continuing
on the date of this Second Amendment.
EXECUTED
AS OF THIS ____ day of ______________, 2005.
LANDLORD: TENANT
BANK
OF
AMERICA, N.A.
BY:
_______________________ _____________________________
Title:
______________________
Date:
______________________ Date:
________________________
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