Exhibit 10.11
Poughkeepsie
July 6, 2007
Xxxxx Xxxxxx
Suffern Place Associates, LP
c/o Decorative Product Source, Inc.
0 Xxxxxx Xxxxx, Xxxxx 0
Xxxxxx, XX 00000
Subject: Second Lease Amendment
Agreement
Premises: POUGHKEEPSIE, New York,
000 Xxxx Xxxxxx (As described in
Schedule A of the May 1, 1998 Lease
Agreement)
Lease History:
a. Assumption (and
Modification) of Lease dated
September 30, 2003 (the
"Assumption of Lease
Agreement")
b. Lease dated May 1, 1998
(the "Lease Agreement")
Dear Xx. Xxxxxx:
With regards to the above Lease Agreement and amendments and/or modifications
thereto, by and between Suffern Place Associates, LP ("Landlord") and The RAL
Supply Group, Inc. ("Tenant"), Tenant hereby agrees to amend the terms of the
subject Lease Agreement and amendments and/or modifications thereto as follows:
1. Tenant hereby exercises its option to renew for five (5) years
terminating on April 30, 2013 pursuant to paragraph 1.3 of the
referenced Lease Agreement and amendments and/or modifications
thereto. Landlord hereby accepts Tenant's exercise of its option to
renew for the aforementioned five (5) years terminating on April 30,
2013, the same as if said option were exercised in accordance with the
terms of the Lease Agreement and amendments and/or modifications
thereto.
2. Commencing July 1, 2007, the Fixed Minimum Annual Rent shall be
the sum of $67,500.00 ($5,625.00 per month) which on July 1, 2008 and
each year thereafter shall be adjusted for CPI Index increases as
described in Schedule B of the Lease
Agreement and amendments and/or modifications thereto, except
that the Base Month for calculation of this increase shall be May
2007.
3. The validity of the Lease Agreement and amendments and/or
modifications thereto shall be governed by the laws of the State of
New York.
All other terms and conditions of the aforementioned Lease Agreement and
amendments and/or modifications thereto shall remain in full force and effect.
If this agrees with your understanding, kindly sign below.
Sincerely, Agreed and Accepted:
The RAL Supply Group, Inc. Suffern PlaceAssociates, LP
f/k/a RALPurchasing Corp.
By: /s/ Xxxxxxx Xxxxxx By: /s/ Xxxxx Xxxxxx
---------------------------- -----------------------------
Xxxxxxx Xxxxxx, Executive VP Xxxxx Xxxxxx, Managing Member
(President)
2
