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EXHIBIT 10.2
SECOND AMENDMENT TO LEASE AGREEMENT
THIS SECOND AMENDMENT TO LEASE AGREEMENT (hereinafter referred to as
the "Second Amendment") is made as of the 19 day of June 1997, by and between
WEEKS REALTY, L.P. (hereinafter referred to as "Landlord") and QUADRAM
CORPORATION (hereinafter referred to as "Tenant").
WITNESSETH:
WHEREAS, A.R. Weeks & Associates, Inc. and Tenant entered into that
certain Lease Agreement dated March 11, 1985, as amended by that certain First
Amendment to Lease Agreement dated November 16, 1990, (hereinafter collectively
referred to as the "Agreement") for the lease of 137,100 square feet of
office/warehouse space at 0000 Xxxxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxx, Building 2
in Gwinnett Park which is more particularly described in Exhibit "A" to the
Agreement and certain easements, rights and privileges appurtenant thereto
(hereinafter referred to as the "Leased Premises"); and
WHEREAS, Weeks Realty, L.P. succeeded to the interest of the landlord
under the Agreement and is the Landlord with respect to the Leased Premises; and
WHEREAS, the Agreement will expire by its terms on November 30, 1997
and Tenant desires to enter into this Second Amendment in order to extend the
term of the Agreement;
NOW, THEREFORE, for and in consideration of Ten Dollars ($10.00) paid
by Landlord and Tenant to one another, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged by
Landlord and Tenant, Landlord and Tenant amend the Agreement as follows:
1. The Agreement is hereby extended for an additional five (5) year
term effective December 1, 1997 and continuing until midnight on November 30,
2002 on all of the same terms, covenants and conditions as the original
Agreement with the same base year except that the base rental for the new term
shall be as set forth below:
December 1, 1997 - November 30, 2000 $59,981.25/month $719,775.00/year
December 1, 2000 - November 30, 2002 $62,837.50/month $754,050.00/year
The base rental shall be due on or before the first day of each
calendar month during the term together with any other additional rent as set
forth in the Agreement. The landscaping service fee shall continue at its
current rate.
2. As consideration for Tenant's performance of all obligations to be
performed by Tenant under this Lease, Landlord shall contribute the sum of One
Hundred Twelve Thousand One Hundred and 00/100 Dollars ($112,100.00) (the
"Allowance") towards the cost of tenant improvements to the Leased Premises. The
Allowance shall be used for alterations, improvements, fixtures and equipment
which become part of or are attached or affixed to the Leased Premises,
including walls, wall coverings and floor coverings, but excluding trade
fixtures, furniture and furnishings or other personal property. In the event the
cost of tenant improvements exceeds the cost of tenant improvement Allowance the
excess shall be paid by Tenant within thirty (30) days of Tenant's receipt of
Landlord's notice.
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3. Tenant shall have the option to renew the Agreement for one (1) five
(5) year term provided that Tenant gives written notice to Landlord of its
intention to renew at least one hundred eighty (180) days prior to the end of
the then current term of the Lease. The Extended Term shall be on the same terms
and conditions as the initial term of the Agreement, except as expressly
provided herein to the contrary with respect to Base Rent and except for such as
are, by their terms, inapplicable to an Extended Term.
The Base Rental for the Extended Term shall increase at a rate of seven
percent (7%) above the ending rate for the preceding term, payable in monthly
installments on or before the first day of each calendar month in the Extended
Term.
It is expressly understood that Tenant shall have no option to extend
the term of the Agreement for the Extended Term if at the time of such attempted
exercise of the Extended Term the Agreement is not then in full force and effect
and if Tenant is then in default of any terms and conditions of the Agreement
beyond any applicable notice and cure period provided for herein.
4. Landlord and Tenant hereby agree to cooperate with each other in the
construction of 10 to 12 parking spaces ("Additional Parking") to be added to
the existing parking area per the attached plan marked Exhibit "A". The cost of
constructing the Additional Parking shall be paid by Landlord.
5. Landlord has agreed to renovate the landscaping and sprinkler
system, at Landlord's sole cost and expense per the attached plan marked Exhibit
"B" and to construct a new storefront entrance to the Premises on the Meca Way
side of the Building, per the attached plan marked Exhibit "C".
6. Landlord agrees to provide preventive maintenance on the HVAC system
for the Leased Premises, at its sole cost, provided that Landlord shall not have
any obligation to make any corrections, repairs or replacements to the systems.
7. Except as expressly modified by this Second Amendment, all
provisions, terms and conditions of the Agreement shall remain in full force and
effect.
8. In the event a provision of this Second Amendment conflicts with a
provision of the Agreement, the Second Amendment shall supersede and control.
9. All terms and phrases used herein shall have the same meaning as
assigned to them in the Agreement.
10. This Second Amendment shall not be of any legal effect or
consequence unless signed by Landlord and Tenant, and once signed by Landlord
and Tenant it shall be binding upon and inure to the benefit of Landlord,
Tenant, and their respective legal representatives, successors and assigns.
11. This Second Amendment has been executed and shall be construed
under the laws of the State of Georgia.
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IN WITNESS WHEREOF, the undersigned have caused this Second Amendment
to be executed under seal and delivered as of the day and year first above
written.
LANDLORD:
Signed, sealed and delivered
in the presence of: WEEKS REALTY, L.P.,
a Georgia limited partnership
/s/ Xxxxx X. Xxxxxxx
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Witness By: Weeks GP Holdings, Inc.,
a Georgia corporation,
/s/ Xxxxxxxxx Xxxxxxxx its sole general partner
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Notary Public
By: /s/ Xxxxxxx Xxxxxxxx
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Name: Xxxxxxx Xxxxxxxx
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Its: President/C.O.O.
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[SEAL]
TENANT:
Signed, sealed and delivered QUADRAM CORPORATION
in the presence of:
/s/ Xxxxx Xxx By: /s/ X. X. Xxxxxxx
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Witness Name: X. X. Xxxxxxx
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Its: President
/s/ Xxxxxx X. Xxxxxxx ------------------------------
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Notary Public
ATTEST:
By: /s/ Xxxxxx Xxxxxx
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Name: Xxxxxx Xxxxxx
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Its: Secretary
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[Corporate Seal]
