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Exhibit 10.31
SECOND
LEASE MODIFICATION AGREEMENT
AGREEMENT
made this 14th day of April 2000 between JOSEPH P. DAY REALTY
CORP., as agent for 800 Third Avenue Associates, LLC
(“Owner”), 9 East 40th Street, New York, New York
10016, and ASSET ALLIANCE CORPORATION (“Tenant”),
800 Third Avenue, New York, New York 10022;
W
I T N E S S E T H:
WHEREAS,
the parties are Owner and Tenant respectively under lease
dated September 12, 1996, as modified by Lease Modification
Agreement dated December 8, 1997 (the lease as modified is
hereinafter referred to as the “Lease”), covering
the entire 22nd Floor at 800 Third Avenue, New York, New York
(the “Building”) for a term ending July 31, 2008;
and
WHEREAS,
Tenant wishes to lease additional space in the
Building;
NOW,
THEREFORE, the parties agree as follows:
1.
Owner
hereby leases to Tenant and Tenant hereby leases from Owner
Room 2302 in the Building for a term commencing on substantial
completion of Owner’s Work set forth in the attached
Workletter (the “Room 2302 Commencement Date”) and
ending on the same date the Lease shall end.
2.
Except
to the extent otherwise provided in this Agreement, (i) from
and after the Room 2302 Commencement Date, Room 2302 shall,
for all purposes of the Lease, constitute part of the demised
premises under the Lease, and (ii) Owner and Tenant agree that
all the terms, covenants and conditions of the Lease shall
apply to the leasing of Room 2302.
3.
Commencing
on the Room 2302 Commencement Date, Tenant shall pay and Owner
shall accept the following rent and additional for Room
2302:
(a)
Tenant
shall pay annual rental (as set forth on page 1 of the Lease)
for Room 2302 of $98,304 per annum;
(b)
Tenant
shall pay real estate tax escalation for Room 2302 pursuant to
Article 39 of the Lease; the “Base Tax” for Room
2302 shall mean Taxes, as finally determined by settlement,
court decision or otherwise, for the fiscal Tax Year ending
June 30, 2000; Tenant’s Share for Room 2302 shall be
.435%;
(c)
Tenant
shall pay wage formula increase for Room 2302 pursuant to
Article 40 of the Lease; the Wage Rate Multiple for Room 2302
shall be 2048; the “Base Labor Rate” for room 2302
shall be the Labor Rate at December 31, 2000;
(d)
in
the event Owner exercises Owner’s option, pursuant to
Article 41 of the Lease, Tenant shall pay operating expense
escalation for Room 2302 pursuant to Article 41 of the Lease;
the “Base Year” referred to therein for Room 2302
shall be 2000; the percentage referred to therein for Room
2302 shall be .435%;
(e)
Tenant
shall pay Heating Costs escalation for Room 2302 pursuant to
Article 42 of the Lease, in the event Heating Costs for any
calendar year shall exceed Heating Costs for 1999; the
percentage referred to therein for Room 2302 shall be
.435%;
(f)
Tenant
shall pay local laws escalation for Room 2302 pursuant to
Article 43 of the Lease; the percentage referred to therein
for Room 2302 shall be .435%;
(g)
Owner
shall furnish electricity in Room 2302 pursuant to Article 66
of the Lease; pending an electrical survey, the Electrical
Inclusion Factor for Room 2302 shall be $6,144 per annum; the
annual rental for Room 2302 referred to in subparagraph (a)
shall be increased by the Electrical Inclusion Factor making a
total annual rental for Room 2302 of $104,448 per annum
payable in advance on the first day of each month in equal
monthly installments of $8,704; in no event shall the
Electrical inclusion Factor for Room 2302 be decreased below
$6,144 per annum.
4.
Owner
agrees, at Owner’s cost and expense, to do the work in
Room 2302 set forth in the attached Workletter. Article 71 of
the Lease shall apply to such work in Room 2302.
5.
Articles
67, 68, 69, 73 and 75 of the Lease and the Workletter attached
to the Lease and the Lease Modification Agreement and
paragraphs 4, 7 and 8 of the Lease Modification Agreement
shall not apply to Room 2302. Provided that Tenant is not then
i
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