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Document Preview Lease Agreement [Amended] |
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Title: |
Lease Agreement [Amended] |
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Entities: |
TOTAL SA; Richard Rutta & Kenneth Levine Real Estate Partnership; Diamond Triumph Auto Glass Inc |
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Date: |
2003 |
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Size: |
Preview shows 7KB of 26KB total |
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Price: |
$42 |
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ID: |
#162189 |
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{PAGE}
AMENDED LEASE AGREEMENT
SECTION I
PARTIES
This document serves as an amendment to that certain lease agreement dated
July 1, 2000 between RICHARD RUTTA & KENNETH LEVINE REAL ESTATE PARTNERSHIP with
an address at 220 Division Street, Kingston, PA 18704 as Landlord, and DIAMOND
TRIUMPH AUTO GLASS, INC., with offices at 220 Division Street, Kingston,
Pennsylvania, 18704, as Tenant for certain leased premises located at 220
Division Street, Kingston, PA 18704 as described in more detail below.
SECTION II
DESCRIPTION OF LEASED PREMISES
Landlord hereby leases to Tenant and Tenant hereby leases from Landlord,
certain premises containing approximately 51,000 sq. ft. of office space and
approximately 148,080 sq. ft. of warehouse space located at 220 DIVISION STREET,
KINGSTON, PA 18704 which premises shall hereafter be referred to as the Premises
and the related parking spaces located in the lot across the street from the
Premises and approximately 7,000 sq. ft. of garage space located at the rear
section of said lot. The aforementioned Premises together with the parking lot
shall hereafter collectively be referred to as the Premises and are more fully
described in Exhibit A attached hereto and incorporated to be reference herein.
SECTION III
TERM
The Premises are leased for a term to commence on NOVEMBER 1, 2003 and to
end on DECEMBER 31, 2005.
OPTION TO RENEW
The parties agree that this lease shall be renewed, upon the same terms
and conditions, for additional two (2) year periods, unless this lease is
terminated by either the Landlord or Tenant by such party providing written
notice at least sixty (60) days prior to the expiration of the then current
lease period.
SECTION IV
RENT
The total annual rent is the sum of $465,740 ($2.26/sq.ft. per annum)
which sum is payable in equal monthly installments, of $38,812 in advance, on
the 1st day of each calendar month during the Term. In addition, the Landlord
and Tenant acknowledge and agree that effective each January 1st of each
calendar year rental period that the annual rent shall be increased by four
percent (4%) for each such calendar year. As such, the annual rent shall be
increased as of January 1, 2004 and each January 1st thereafter.
The Landlord and Tenant acknowledge and agree that the annual rent shall be
subject to adjustment during any option or renewal period. The failure of the
Landlord to increase the annual rent during any renewal period shall not
prohibit the Landlord from subsequently adjusting or increasing the rent during
a subsequent renewal period.
SECTION V
USE AND OCCUPANCY
Tenant shall use and occupy the Premises primarily as a warehouse for
automobile windshields and other related glass products and also a portion as a
Corporate office headquarters. Landlord represents that the Premises may
lawfully be used for such purpose and in the event such use is prohibited by any
zoning law or ordinance during the term that the Tenant shall have the right to
terminate its obligations hereunder by thirty (30) days written notice to
Landlord.
1
{PAGE}
SECTION VI
PLACE FOR PAYMENT OF RENT
Tenant shall pay rent to Landlord at Landlord's above stated address, or
at such other place as Landlord may designate in writing.
SECTION VII
CARE AND REPAIR OF PREMISES
Tenant shall commit no act of waste and shall take good care of the
Premises and the fixtures and appurtenances therein, and shall, in the use and
occupancy of the Premises, conform to all laws, orders, and regulations of the
federal, state and municipal governments as relate solely to Tenant's use,
manner or use of occupancy of the Premises and Tenant's obligations hereunder
shall not extend to conditions pre-existing the commencement of the term of this
Lease.
Not later than the last day of the term, Tenant shall, at Tenant's
expense, remove all of Tenant's personal property and those improvements made by
fixtures, cabinet work, movable paneling, partitions and the like; repair all
injury done by or in connection with the installation or removal of the property
and shall restore the premises to the same good order and condition in which
they were at the commencement of this Lease, reasonable wear, and damage by
fire, the elements or the agents, servants, visitors or licensees of Landlord
excepted.
SECTION VIII
ALTERATIONS, ADDITIONS OR IMPROVEMENTS
Tenant shall not, without first obtaining the consent of Landlord, make
any structural alterations, or improvements in, to or about the Premises.
Landlord shall not unreasonably withhold consent.
SECTION IX
PROHIBITION AGAINST ACTIVITIES INCREASING
FIRE INSURANCE RATES
Tenant shall not do or suffer anything to be done on the Premises, which
will cause an increase in the cost of fire insurance on the building. If Tenant
shall cause the cost of fire insurance to increase Tenant will be responsible
for the incremental increase in said costs.
SECTION X
ACCUMULATION OF WASTE OR REFUSE MATTER
Tenant shall not permit the accumulation of waste or refuse matter on the
leased Premises or anywhere in or near the building.
SECTION XI
ASSIGNMENT OR SUBLEASE
Tenant shall not, without first obtaining the consent of the Landlord,
assign this Lease, in whole or in part, or sublet the Premises or any part of
such Premises. Landlord expressly covenants that such consent shall not be
unreasonably withheld. The Landlord and Tenant acknowledge and agree that in the
event the Tenant effectuates a sale of substantially all of the assets or
attempts to effectuate the transfer of the leasehold interest herein in
conjunction with a consolidation, merger or pooling of interests of Tenant, that
this lease at the Landlord's sole option, may either be terminated or the lease
may be extended and Landlord at his election may renegotiate the rent at the
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