FIRST AMENDMENT TO LEASE AGREEMENT
This First Amendment to Lease Agreement ("Amendment") is entered into as
of the 7th day of December, 1993 by and between 600 C.C. Business Park Ltd.
("Landlord") and Industrial Data Systems ("Tenant").
RECITALS
WHEREAS, Landlord who has succeeded the rights, title, and interests of
American General Life Insurance Company, as "Landlord", and Industrial Data
Systems, as "Tenant", entered into a Lease Agreement dated January 16, 1991
(the "Lease") for certain premises known as 00000 Xxxxxxx Xxxxx, Xxxxx X-000,
Xxxxxxx, Xxxxx 00000 consisting of approximately 5,625 square feet and;
WHEREAS, Landlord and Tenant desire to modify the Lease so as to extend the
term of the Lease and to modify certain terms and provisions outlined in the
original lease;
All defined terms used in this Amendment shall have the same meaning
assigned to them in the original Lease, unless the context herein expressly
provides otherwise.
NOW, THEREFORE, for one dollar ($1.00) and other good and valuable
consideration, the receipt and sufficiency which are hereby acknowledged,
Landlord and Tenant hereby agree that the Lease shall be Amended as follows:
AGREEMENTS:
1) Section One (1) Paragraph Two (2) shall be amended to read: "To have and to
hold the same for a term commencing on February 1, 1991 ("Commencement
Date") and ending January 31, 1997 thereafter".
2) Section 2 Paragraph A shall be amended to allow for the following base rent
schedule which shall apply to months thirty seven through seventy-two of the
lease term. Base Rental shall remain as scheduled in the original lease
until February 1, 1994 at which time the following base rent shall apply:
February 1, 1994 - January 31, 1995 = $2,081.25 per month
February 1, 1995 - January 31, 1996 = $2,193.75 per month
February 1, 1996 - January 31, 1997 = $2,306.25 per month
3) Taxes and Insurance Charges as specified in Section 4 and Section 13 of the
Lease shall be modified to allow that the Tenant shall be responsible for
any additional taxes and insurance costs which exceed an amount equal to the
1994 expense for these items per square foot of net rentable area in the
premises per year. All other defining terms and calculations of assessments
and charges pursuant to these paragraphs shall remain as specified in the
original lease.
4) Common Area Maintenance -- Tenant shall be required to pay its estimated
prorata share of Common Area Maintenance expenses of the property. On a
monthly basis, Tenant shall pay an amount equal to $.07 per square foot per
month as Tenant's estimated prorata share of the common area expenses as
outlined in Section 7 of the Lease. Therefore, beginning February 1, 1994,
Tenant shall pay an amount of $393.75 per month in addition to the base
rental scheduled above as its estimated monthly share of these common area
maintenance costs. Landlord agrees that Tenant's payment of its prorata of
Common Area Maintenance costs will not exceed $.07 per square foot per month
during the term of the Lease.
PAGE 1 OF 2
5) Therefore, as an example of rental and expense obligations as modified in
this Amendment and as ratified in the original agreement, the following is
an outline of Tenant's charges:
For example, total charges for the month of February 1994 shall be as
follows:
Base Rent: $ 2,081.25
Common Area Maintenance: $ 393.75
-----------
TOTAL PAYMENT FOR FEBRUARY 1994: $ 2,475.00
Rent and expense charges will remain as scheduled in the original Agreement
and as are currently be paid by Tenant until January 31, 1994.
6) Option to Renew -- Provided that Tenant is not in default on any of the
terms and conditions set forth in the lease in this Amendment, Landlord
hereby grants Tenant one option to renew the Lease for an additional
thirty-six (36) month term at rental rates to be negotiated prior to Tenant
exercising said renewal option. In order for Tenant to exercise said option,
Tenant must notify Landlord of its intention to renew the Lease at least
ninety (90) days prior to the expiration of the lease term.
7) Lease Space Condition -- Tenant accepts the premises in its current
condition ("as is"); however, Landlord agrees to make certain that the air
conditioning units are fully operational and to provide any necessary
repairs recommended by a reputable air conditioning contractor.
EXCEPT as expressly provided herein, all other terms, covenants, and
conditions of the Lease shall remain the same in full force and effect, and are
hereby ratified by both parties.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date
first written above.
LANDLORD: TENANT:
600 C.C. Business Park Ltd. Industrial Data Systems
BY: /s/ XXXX X. XXXXXXXX BY: /s/ XXXXXXX XXXXXX
NAME: Xxxx X. Xxxxxxxx NAME: Xxxxxxx Xxxxxx
TITLE: General Partner TITLE: President
DATE: December 7/1993 DATE: 11/23/93
PAGE 2 OF 2
