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EXHIBIT 10.70
EXTENSION OF LEASE OF A CONDOMINIUM UNIT
(Metropolitan Tower Condominium)
between
XXXX XXXXXXX, XX. ("Landlord")
and
SPANISH BROADCASTING SYSTEM, INC. ("Tenant")
This will serve to extend that certain Lease of a Condominium unit
dated August 14, 1997 by and between Xxxx Xxxxxxx, Xx., as Landlord and Spanish
Broadcasting System, Inc., as Tenant.
The lease term, for purposes of this extension, shall be from September
1, 1997 through and including August 31, 2007. It is specifically agreed to and
understood that Landlord has the unrestricted right upon thirty (30) days notice
to Tenant, if Landlord wishes to use the Premises as his exclusive residence or
if the Landlord wishes to sell the Unit; or (ii) upon ninety (90) days notice,
for any reason whatsoever. Upon the expiration of the thirty (30) day or ninety
(90) day period set forth in the notice, as the case may be, Tenant must quit
possession of the Unit and shall redeliver the Unit to Landlord in the same
condition in which it was tendered to Tenant at the beginning of the term of the
Lease, subject to reasonable wear and tear.
All other terms and conditions, except paragraph 50 of that certain
Rider to Lease of A Condominium Unit between Xxxx Xxxxxxx, Xx., as Landlord, and
Spanish Broadcasting System, Inc., as Tenant, shall remain in full force and
effect throughout the term of this lease extension.
LANDLORD
/s/ Xxxx Xxxxxxx, Xx.
XXXX XXXXXXX, XX.
TENANT
SPANISH BROADCASTING SYSTEM, INC.
By:/s/ Xxxxxx X. Xxxxxx
Name: Xxxxxx X. Xxxxxx
Title: Executive Vice President
and Chief Financial Officer
DATE: November 11, 1998
