Second Amendment to Lease Agreement
This Second Amendment to Lease Agreement ("Second
Amendment") is effective as of the 27th day of May, 1997, between
K-P Plaza Limited Partnership, a Texas limited partnership
("Landlord"), and AMRESCO, Inc., a Delaware corporation
("Tenant").
W I T N E S S E T H :
WHEREAS, Landlord and Tenant entered into that certain
Office Lease Agreement dated February 9, 1996, as amended by that
certain First Amendment to Office Lease dated July 17, 1996
("First Amendment") (such Office Lease Agreement, as amended by
the First Amendment, is hereafter referred to as the "Lease"),
covering approximately 130,606 rentable square feet of area
("Original Premises") located on the entire 17th, 22nd, 23rd,
24th, and 25th floors and part of the 16th floor as more
particularly described in the Lease and commonly referred to as
Suite 2500 in the office building located at ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇ (the "Building") within the development commonly known as
the Plaza of the Americas situated on Blocks 257 and 258 in the
City of Dallas, Texas;
WHEREAS, the Lease expires on October 31, 2006; and
WHEREAS, Landlord and Tenant desire to amend the Lease to,
among other things, temporarily expand the Original Premises by
an additional 3,858 rentable square feet of area on the 16th
floor of the Building as shown on EXHIBIT "A" to this Second
Amendment ("Temporary Premises"), all as more fully set forth in
this Second Amendment;
NOW, THEREFORE, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged,
Landlord and Tenant hereby agree to amend the Lease as follows:
1. Definitions. Unless otherwise defined, all defined terms in
this Second Amendment have the same meaning as in the Lease.
2. Premises. Beginning on May 27, 1997, and continuing only
until and including December 31, 1997, the Premises as described
in the Basic Office Lease Information incorporated into the Lease
will increase by 3,858 rentable square feet of area so that the
Premises will total 134,464 rentable square feet of area as
depicted on Exhibit "A" to this Second Amendment. From and after
January 1, 1998, the Premises will revert to the Original
Premises, and Tenant shall have no further right to occupy the
Temporary Premises. If Tenant fails to vacate the Temporary
Premises by December 31, 1997, then Tenant shall be a tenant at
will with respect to the Temporary Premises, and the provisions
of Section 22 of the Lease entitled "Holding Over" will apply to
Tenant's occupancy of the Temporary Premises.
3. Term. The Term of the Lease remains unchanged by this
Second Amendment.
4. Basic Rental. Beginning on May 27, 1997, and continuing
only until and including December 31, 1997, Tenant shall pay
Landlord Basic Rental for the Temporary Premises in the manner
provided in Section 4.a of the Lease at the annual rate of $14.50
per rentable square foot of area within the Temporary Premises
(i. e., $4,661.75 per month). Beginning on May 27, 1997, and
continuing only until and including December 31, 1997, Tenant, in
addition to the Basic Rental set forth above, shall pay Landlord
in the manner provided for in the Lease all other amounts due
under the Lease applicable to the Temporary Premises, including,
without limitation, the amounts set forth in Section 4.c, 4.d,
and 4.e of the Lease. Nothing in this Second Amendment affects
the payment of Basic Rental or other sums due under the Lease for
the Original Premises, the payment of which is governed by the
terms of the Lease.
5. Tenant Improvements; As is. Tenant agrees to accept the
Temporary Premises in its "as is" condition as of the date of
this Second Amendment without any representation or warranty from
Landlord with respect to its condition or its suitability for any
particular purpose. Landlord has no obligation to construct any
tenant improvements within the Temporary Premises, and any tenant
improvements constructed therein by Tenant will be subject to all
terms and provisions of the Lease, including, without limitation,
the provisions of Section 8 thereof.
6. Brokerage. Tenant warrants that it has had no dealings with
any broker or agent in connection with the negotiation or
execution of the Lease or this Second Amendment other than with
▇▇▇▇▇▇▇▇ Properties Limited, Inc., and both Landlord and Tenant
agree to indemnify each other and hold each other harmless from
and against any and all costs (including investigation and
defense costs) and expenses, claims for commissions or other
payments by any broker or agent who alleges to have performed
services on behalf of the indemnifying party.
7. Management Company. Tenant acknowledges that ▇▇▇▇▇▇▇▇
Properties Limited, Inc. is the Building's management and leasing
agent.
8. Authority. Each individual signing below represents that
he/she has been duly authorized to execute and deliver this
Second Amendment and that same shall be binding on Landlord and
Tenant (as applicable) on whose behalf he/she is signing.
9. Entire Agreement. This Second Amendment, together with the
provisions of the Lease, embody the entire agreement between the
parties with respect to the subject matter hereof and cannot be
varied except by written agreement of the parties.
10. Successors and Assigns. All of the terms, covenants,
provisions, and conditions of this Second Amendment are hereby
made binding on the executors, heirs, administrators, successors,
and permitted assigns of both parties hereto.
11. Headings. The captions used in connection with the sections
of this Second Amendment are for convenience only and shall not
be deemed to construe or limit the meaning of the language of
this Second Amendment.
12. Conflict. In the event of any conflict between the
provisions of this Second Amendment and the provisions of the
Lease, the provisions of this Second Amendment will govern and
control.
13. Lease. As amended hereby, the Lease will govern the
Temporary Premises and will continue in full force and effect and
is ratified and confirmed by Landlord and Tenant. From and after
the date of this Second Amendment, the term "Lease", when used in
the Lease, will mean the Lease, as further amended by this Second
Amendment.
14. Counterparts. This Second Amendment may be executed in
multiple counterparts and signature pages from any counterpart
may be appended to any other counterpart. All counterparts shall
constitute a single, unified instrument.
Witness the Execution Hereof, effective as of the date first
set forth above.
AMRESCO, Inc., a Delaware corporation
By:
Title:
K-P Plaza Limited Partnership,
a Texas limited partnership
By: K-P Plaza Dallas, Inc.,
its general partner
By:
Title: