Exhibit 10.18
AMENDMENT TO LEASE AND GUARANTY AGREEMENTS
THIS AMENDMENT TO LEASE AGREEMENT is made and entered into as of the
1st day of April, 2000, by and between Xxxxxxx Land Corporation ("Lessor" or
"Landlord") and Access Power, Inc. ("Lessee" or "Guarantor").
IN CONSIDERATION of the mutual promises, covenants and conditions
herein contained, Lessor and Lessee agree that the Lease Agreement dated August
1, 1997, between ("Lease Agreement") is hereby amended as of the first date
written above.
1. Item 1 of the Lease Agreement is amended to add 1173 sq. ft.
to the Premises, as depicted on the attached floor plan.
2. Item 2.4.1 of the Lease Agreement is amended to add the
additional 1173 square feet to the extended option as follows:
Months 38 through 61, total in the amount of $118,268.76, add
the additional 1173 square feet to the extended option as
follows:
Months 38 thru 49 ......................$4,855.04 monthly
Months 50 through 61....................$5,000.69 monthly
3. Item 2.4.2 of the Lease Agreement is amended to add the
additional 1173 square feet to the extended option as follows:
Months 62 thru 73 ......................$5,150.71 monthly
Months 74 thru 85 ......................$5,305.23 monthly
Months 86 thru 97.......................$5,464.39 monthly
Months 98 thru 109......................$5,628.32 monthly
4. Item 3 of the Lease Agreement is amended (for months 34 thru
37) to include payment at the rate of $20.16 per square foot
for the additional 693 square feet of office space and $11.88
per square foot for the 480 square feet of new storage space.
Monthly rent amount for the total square footage of leased
space (3,003 sq ft) after occupancy is as follows:
Current to date of occupancy.................$3,073.96 monthly
Florida State Tax (6%).......................$ 184.44 monthly
Old Total...........................$3,258.40 monthly
Additional space.............................$1,639.67 monthly
Florida State Tax (6%).......................$ 98.38 monthly
New Total...........................$4,996.45 monthly
Occupancy and rental charges for the additional 693 square
feet will begin on May 1, 2000
Occupancy and rental charges for the additional 480 square
feet will begin on June 1, 2000
5. Item 5.5 of the Lease Agreement is amended to provide that
Lessee's percentage of Operating Costs is equal to 28.24% of
the total costs of operation.
6. Exhibit D, Rent Schedule as attached.
Initials: ___ & ___
Lessee/Guarantor, by his signature below, hereby exercises his First
Extended Option according to the Lease and as amended herein. Lessor/Landlord,
by his signature below, accepts the extension.
IN CONSIDERATION of the mutual promises, covenants and conditions
herein contained, Landlord and Guarantor also agree that the Unconditional
Guaranty Agreement dated July 17, 1997, between them is hereby amended to
reflect the additional space and increased rents as of the date of occupancy of
said additional space.
EXCEPT as specifically modified and amended herein, the terms and
conditions of the Lease Agreement and Unconditional Guaranty Agreement remain in
effect as originally specified.
IN WITNESS WHEREOF, Lessor/Landlord and Lessee/Guarantor have caused
the Amendment to Lease Agreement and Unconditional Guaranty Agreement to be
executed as of the day and year first above written.
Witness as to Lessor/Landlord: LESSOR/LANDLORD
XXXXXXX & ASSOC., INC.
/s/ Xxxxxx X. Xxxxxxxx
---------------------------------- By: /s/ Xxxxx X. Xxxxxxx
----------------------------------
/s/ Xxxxxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx, Realtor
---------------------------------- Landlord's Agent
Witness as to Lessee/Guarantor: LESSEE/GUARANTOR
ACCESS POWER, INC.
/s/ Xxxxxxxx X. Xxxxxxx
---------------------------------- By: /s/ Xxxxx Xxxxx
----------------------------------
/s/ Xxxxx X. Xxxxxx Xxxxx Xxxxx, President
----------------------------------
2
RENT SCHEDULE
ANNUAL MONTHLY TERM PER SQ FOOT
YEAR MONTHS CALENDAR DATES RENT RENT RENT OFFICE/STORAGE
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CURRENT TERM
3 35 thru 37 05/15/00 thru 08/15/00 $18,854.52 $4,713.63 $ 18,854.52 $20,16/$11.88
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FIRST EXTENDED TERM:
4 38 thru 49 08/15/00 thru 08/14/01 $58,260.48 $4,855.04
5 50 thru 61 08/15/01 thru 08/14/02 $60,008.28 $5,000.69 $118,268.76
------------------------------------------------------------------------------------------------------------------------------
SECOND EXTENDED TERM:
6 62 thru 73 08/15/02 thru 08/14/03 $61,808.52 $5,150.71 $20.76/$12.23
7 74 thru 85 08/15/03 thru 08/14/04 $63,662.76 $5,305.23 $22.69/$13.37
8 86 thru 97 08/15/04 thru 08/14/05 $65,572.68 $5,464.39 $23.37/$14.18
9 98 thru 109 08/15/05 thru 08/14/06 $67,539.84 $5,628.32 $258,587.80 $24.07/$14.60
Initials: ___ & ___
