EXHIBIT 10(I)
3601 TURNPIKE ASSOCIATES
0 Xxxx Xxxxx Xxxxx 000, Xxx Xxxx, Xxx Xxxx 00000, 000-000-0000 FAX 000-000-0000
November 28, 2000
Colonial Commercial Corp.
0000 Xxxxxxxxx Xxxxxxxx
Xxxxx 000-X
Xxxxxxxxx, Xxx Xxxx 00000
Gentlemen:
Reference is made to that certain lease dated February 27, 1992 and
Extension of Lease dated May 6, 1996 ("the Lease") between 3601 TURNPIKE
ASSOCIATES, as Owner and you, as Tenant, covering space designated as Suite
121-I in the building known as 0000 Xxxxxxxxx Xxxxxxxx, Xxxxxxxxx, Xxx Xxxx.
The parties hereto agree that the Lease is to be extended for a term of
five (5) years to commence on July 1, 2001 and to expire on June 30, 2006 with
the same force and effect as if such date were the date originally set forth n
the Lease as the expiration date hereof.
The parties further agree that during such extended term all of the
terms, covenants and conditions of the Lease shall continue in full force and
effect except that:
1. The annual rent during such extended term shall be as set forth on
the attached Exhibit "A".
2. Article 37A(b) of the Lease, as amended, shall be further amended so
that the term "Base Taxes" shall mean a sum equal to the General Tax payable for
the Calendar Year 2000 and the School Tax for the year July 1, 2000 to June 30,
2001.
3. Tenant agrees to accept the Demised Premises in its present "as is"
condition and Owner shall not be required to do any work or furnish any
materials in connection therewith.
4. Pursuant to the terms and conditions of the Lease, Tenant has
heretofore deposited with Owner the sum of $1,469.25, as security there under,
which Owner acknowledges receipt thereof.
Provided that prior to the commencement of the term of this
Lease, Owner shall not have used, applied or retained the whole or part of said
sum of $2,469.25, the parties hereto agree that said sum of $1,469.25 shall be
held by Owner as security hereunder pursuant to the provisions of Article 34
hereunder.
5. Tenant represents that it has dealt with no broker other than
Xxxxxxx Management Corp. Tenant agrees to indemnify and hold Owner harmless
(including attorneys' fees) from and against any and all claims for brokerage
commissions made by any other party claiming to act for or on behalf of Tenant
concerning this transaction.
Except as hereinabove modified, all of the terms, covenants, and
conditions of the Lease are hereby ratified in all respects thereto.
Very truly yours,
3601 TURNPIKE ASSOCIATES
By: _______________________
Owner
The above is hereby agreed and accepted:
COLONIAL COMMERCIAL CORP.
/s/ Xxxxx X. Xxxxxxx
--------------------
Tenant/Executive Vice Pres.
EXHIBIT "A"
PERIOD Monthly Annual
Beginning Ending Rent Rent
7/1/01 6/30/02 $2,739.58 $32,875.00
7/1/02 6/30/03 $2,821.77 $33,861.25
7/1/03 6/30/04 $2,906.42 $34,877.09
7/1/04 6/30/05 $2,993.62 $35,923.40
7/1/05 6/30/06 $3,083.43 $37,001.10
