THIRD AMENDMENT OF
AGREEMENT OF LEASE
JUNE 24, 2002
Between: FIVE REGENT PARK ASSOCIATES (Landlord)
a New Jersey Partnership
c/o Eastman Management Corporation
000 Xxxx Xxxxx Xxxxxxxx Xxxxxx
Xxxxxxxxxx, Xxx Xxxxxx 00000
And: AMERICAN DISEASE MANAGEMENT ASSOCIATES (Tenant)
#0X Xxxxxx Xxxxxx
Xxxxxxxxxx, Xxx Xxxxxx 00000
RE: Lease Dated July 22, 1996
First Amendment Dated June 15, 1999
Second Amendment Dated February 11, 2000
WITNESSETH
WHEREAS, the parties entered into a Lease Agreement dated July 22, 1996 for
office space in the building known as #5N Regent Street, Livingston, New Jersey
(the "Original Agreement"); First Amendment of Agreement of Lease dated June 15,
1999 (the "First Amendment"); and a Second Amendment of Agreement of Lease dated
February 11, 2000 (the "Second Amendment"). The Original Agreement, the First
Amendment and the Second Amendment are referred to collectively as the "Lease";
WHEREAS, the parties now desire to further amend the Lease to add additional
space in the building in Suite 512 (currently occupied by World Wide Packaging
Company) as shown on the sketch attached hereto as Exhibit "A" (the "Expansion
Area"), to extend the Term of the Lease and to modify certain other terms of the
Lease.
NOW THEREFORE, for and in consideration of the mutual covenants set forth
herein, the receipt and sufficiency of which are mutually acknowledged, the
parties hereto agree to amend the Lease as follows:
1. Capitalized terms used herein and not otherwise defined shall have the
meaning ascribed thereto in the Original Agreement.
2. Beginning on the date Landlord substantially completes the work set forth in
paragraph 3 below (the "Expansion Area Commencement Date"), the Basic Rent shall
be increased by the amount of $37,328.00 per annum, or $3,110.00 per month.
Tenant shall also pay, as Additional Rent for the Expansion Area, the initial
amount of $997.27 per month. Beginning on April 1, 2003, the Basic Rent shall
increase to $130,125.00 per annum, or $10,843.75 per month. In addition,
beginning on the Expansion Area Commencement Date, Tenant shall pay an
additional amount of $776.00 per month for additional renovation work requested
by the Tenant as per attached floor plan.
American Disease Management Associates
Third Amendment of Agreement of Lease
Page 2
3. Beginning on the Expansion Area Commencement Date, the Premises shall be
expanded by 2,488 square feet and shall include the premises set forth in the
Original Lease, the expansion area set forth in the Second Amendment and the
Expansion Area. The total Rentable Area of the Premises shall be 8,675 square
feet and the Tenant's Proportionate Share shall be 12.61%.
4. Landlord shall perform the renovation work in the Expansion Area as outlined
on the floor plan attached hereto as Exhibit A as soon as practical upon the
execution of this Amendment.
5. The Term of the Lease for the entire Premises as hereinabove defined, shall
be extended for a period ending on the last day of the calendar month in which
the twenty fourth (24) month anniversary of the Expansion Area Commencement Date
shall occur.
6. Tenant shall not disclose any facts or terms of this Agreement to any third
party including former, current or future tenants of the Building.
7. If Landlord is unable to deliver the Expansion Area, including the renovation
work to be completed as set forth in Exhibit A, to Tenant by September 1, 2002
than Tenant shall have the option to terminate this Amendment for the Expansion
Area without liability upon 10 days written notice.
8. In all other respects, except as expressly modified herein, the Lease are
hereby ratified and confirmed.
IN WITNESS WHEREOF, the parties have hereunto set their hands on the
date first written above.
WITNESS: (Landlord)
FIVE REGENT PARK ASSOCIATES
By: Janfel-JBS Corp., a General Partner
/s/ Xxxxxxx Xxxxxx By: /s/ Xxxxx Xxxxxxx
-------------------------- -------------------------------
ATTEST: (Tenant)
AMERICAN DISEASE MANAGEMENT
ASSOCIATES, LLC
/s/ Xxxxx Xxxxxx By: /s/ Xxxxxxx Sicilian
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