LEASE AMENDMENT V
Exhibit 10.31
THIS LEASE AMENDMENT (the "Amendment") is made as of the 1st day of September 2000, by and between ▇▇▇▇▇▇▇▇▇ VILLAGE ASSOCIATES ("Landlord") and American Rental Management Company ("Tenant").
WITNESSETH:
WHEREAS, Landlord and original tenant entered into a lease for certain commercial space in ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇.▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ dated December 1, 1987 (the "Lease"; and
WHEREAS, Lease was amended by Lease Amendment dated February 1, 1989; and
WHEREAS, Lease was further amended by Lease Amendment II dated December 1, 1992; and
WHEREAS, Lease was assigned to American Rental Management Company by Assignment and Assumption dated September 1, 2000; and
WHEREAS, Tenant wishes to further amend the Lease by decreasing square footage of the premises.
NOW THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein, the parties agree as follow:
- In Article 1 of Lease, the number "3,509" square feet which was amended to read "4,734" square feet was amended to read "6,120" square feet is now further amended to read "3.980" square feet.
- Rental charge will be according to the attached schedule on page 3.
- Except as specifically modified by this Amendment, the terms and provisions of the Lease will continue in full force and effect.
Page 1 of 2
IN WITNESS WHEREOF, the undersigned have duly executed this Amendment, or caused this Amendment to be executed by their duly authorized representatives.
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By: |
▇▇▇▇▇▇▇▇▇ VILLAGE ASSOCIATES |
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/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ |
/s/ J. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ |
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WITNESS: |
By: |
American Rental Management Company |
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/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ |
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, Vice President |
State of Maryland
SS:
County of ▇▇▇▇▇▇▇
Before me, a Notary Public in and for the jurisdiction aforesaid, personally appeared this date J. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇. Personally well known (or satisfactorily proven) to me to be the President of Interstate Business Corporation a Delaware corporation, who being by me first duly sworn, did acknowledge that he/she, as the duly authorized officer of said Corporation, executed the foregoing and annexed instrument, in the name and on behalf of the Corporation, as its free act and deed for the uses and purposes contained herein.
WITNESS my hand and official seal this 2nd day of November, 2000.
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/s/ ▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ |
My commission expires 11/30/01 |
Page 2 of 3
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Square Feet |
Rent per Square Foot |
Annual Minimum Rent |
Monthly Minimum Rent |
CAM |
Total Monthly Rent |
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1/3 of 2016=672 sq. ft |
$ 4.00 |
$ 2,688.00 |
$ 224.00 |
$ - |
$ 224.00 |
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1/3 of 1386=462 sq. ft. |
4.00 |
1,848.00 |
154.00 |
- |
154.00 |
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1145 sq. ft. |
9.75 |
11,163.72 |
930.31 |
85.87 |
1,016.18 |
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628 sq. ft. |
11.88 |
7,463.04 |
621.92 |
68.03 |
689.95 |
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348 sq. ft. |
9.45 |
3,288.60 |
274.05 |
26.10 |
300.15 |
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725 sq. ft. |
- |
- |
- |
- |
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Interstate Business Corporation
Executive Offices: ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇. ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
(▇▇▇) ▇▇▇-▇▇▇▇ or Metro-D.C. 843-7333
September 1, 2000
▇▇▇▇▇▇▇▇▇ Village Associates
▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇. ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
American Rental Management Company
▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇. ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Re: Lease from ▇▇▇▇▇▇▇▇▇ Village Associates
To American Rental Management Company
Ladies and Gentlemen:
In connection with the lease amendment dated September 1, 2000 (the "ARMC Lease") between ▇▇▇▇▇▇▇▇▇ Village Associates ("SVA"), as Landlord, and American Rental Management Company ("ARMC"), as Tenant, the undersigned, Interstate Business Corporation ("IBC"), agrees to bear the responsibility for subleasing all or part of the premises demised under the ARMC Lease if ARMC decides to vacate said premises and sublease same in accordance with said ARMC Lease.
We understand that you will rely on the assurance provided in this letter and that you may disclose this letter to lender(s) with mortgage(s) or deed(s) of trust on the ▇▇▇▇▇▇▇▇▇ Village Center property.
Very truly yours,
INTERSTATE BUSINESS CORPORATION
By: /s/ J. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
President