EXHIBIT 10.18
FIRST AMENDMENT TO LEASE
This Amendment to Lease ("Amendment") is entered into on March 31 ,
1997, between Pearle Vision, Inc., the successor in interest to Eyelab, Inc.
("Tenant") and Metric Income Trust Series, Inc., successor in interest to
Xxxxxxx X. Xxxxxxxx ("Landlord").
WHEREAS, Landlord and Tenant entered into a lease agreement dated May
4, 1988, for a certain premises located at 0000 Xxxxxxxxx Xxxxxx, Xxxxxx,
Xxxxxxx 00000 (the "Premises"); and
WHEREAS, Landlord and Tenant desire to extend the terms of the Lease
and modify the rent.
THEREFORE, in consideration of the mutual covenants contained herein
and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, it is agreed as follows:
(1) The term of the lease is extended so that it expires on March
31, 2007.
(2) Fixed rent shall be payable as follows:
April 1, 1997 - March 31, 2002; $9,057.75/mo.; $108,693.00/yr.
April 1, 2002 - March 31, 2003; $9,329.50/mo.; $111,954.00/yr.
April 1, 2003 - March 31, 2004; $9,609.42/mo.; $115,313.00/yr.
April 1, 2004 - March 31, 2005; $9,897.67/mo.; $118,772.00/yr.
April 1, 2005 - March 31, 2006; $10,194.58/mo.;
$122,335.00/yr.
April 1, 2006 - March 31, 2007; $10,500.42/mo.;
$126,005.00/yr.
(3) Landlord's address for notice is Metric Income Trust Series,
Inc. c/o SSR Realty Advisors, Inc., Xxx Xxxxxxxxxx Xxxxxx,
Xxxxx 0000, Xxx Xxxxxxxxx, XX 00000-0000.
(4) All other terms and conditions of the Lease will remain and
continue in full force and effect and will be deemed unchanged
except to the extent provided herein.
First Amendment to Lease dated March 31, 1997
0000 Xxxxxxxxx Xxxxxx, Xxxxxx, XX 00000
TENANT:
Pearle Vision, Inc.
By: /s/ J. Xxxxx Xxxxxxx, President
---------------------------------
J. Xxxxx Xxxxxxx, President
LANDLORD:
Metric Income Trust Series, Inc.,
a California corporation
By: Metric Realty Services, Inc.,
a Delaware corporation,
its agent and property manager
By: /s/ Xxxxxxx X. Xxxxx
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Xxxxxxx X. Xxxxx
Vice President
