FIRST AMENDMENT TO LEASE
THIS
FIRST AMENDMENT TO LEASE is made as of September 21, 2005 (this
"First
Amendment"), between
FAIRFIELD PROPERTY
ASSOCIATES LL
("Landlord") and HARVEY
ELECTRONICS, INC. ("Tenant").
RECITALS:
A.
Landlord and Tenant entered into a lease dated July 21, 2000 (the
"Lease"), which Lease demises certain premises comprised of
approximately 11,841
Gross Rentable Square Feet in Unit 130 (the "Demised Premises") of the building
located at 353 Route 46 West, Fairfield, New Jersey.
B.
Tenant and Landlord desire to extend the term of the Lease and to
memorialize and
confirm other changes to the terms and conditions of the Lease
as set forth below.
AGREEMENT:
NOW,
THEREFORE, in
consideration of the mutual covenants herein contained,
and other good and valuable consideration, the receipt and sufficiency of
which
are hereby
conclusively
acknowledged,
Landlord and Tenant hereby agree as
follows:
1.
The above Recitals are specifically incorporated herein by
reference.
2.
In the event the terms or conditions of this First
Amendment conflict
with, disagree with,
or add to any term(s) or condition(s) of the Lease, this
First Amendment
shall
be deemed controlling and shall supersede any
contradictory provision(s).
3.
All capitalized terms and other terms not otherwise defined herein
shall
have the meanings ascribed to them in the Lease.
4.
All references in the Lease to Landlord shall mean Fairfield Property
Associates LLC.
5.
The term of the Lease is hereby extended by three (3) years and
one (1)
month commencing on
December 1, 2005 (the "Renewal Date") and terminating on
December 31, 2008 (the
"Extended Term").
All references to the "term" or
the
"Term" under the Lease shall mean the term as extended by this
First Amendment.
6.
Beginning on the Renewal Date:
(a)
Base Rent shall be:
<TABLE>
<CAPTION>
Period
Annual Base Rent
Monthly Base Rent
------
----------------
-----------------
<S> <C>
<C>
<C>
December 1, 2005 through December 31, 2005
$0.00
$0.00
January 1,2006 through December 31, 2008
$74,006.28
$6,167.19
</TABLE>
(b)
Tenant's Building Percentage shall remain 19.41%, subject to
adjustment
per terms of the Lease.
(c)
Tenant's Common Area Payment shall be $3,895.20, subject to adjustment
per terms of the Lease.
7.
Tenant is in
possession of the Demised Premises and shall continue to
lease Demised Premises in its "AS IS" condition. In lieu of Landlord performing
any work in the Demised Premises, Landlord agrees to allow Tenant a credit
of
not more than Five Thousand and 00/100 Dollars ($5,000.00) to be used by
Tenant
for the
