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Exhibit
10.2
AMENDMENT NO. 3 TO
LEASE
This Amendment No. 3 to
Lease (the “Third Amendment”) is made and entered into
as of the 30th day of November, 2007 between BRC PROPERTIES,
INC., an Ohio corporation f/k/a Borror Realty Company
(“Landlord”) and DOMINION HOMES, INC., an Ohio
corporation (“Tenant”).
WHEREAS, a certain
Lease was executed December 29, 1997, by and between Landlord
and Tenant, pursuant to which Tenant leased 39,504 gross square
feet of office space, being all of the building previously
identified as 5501 Frantz Road, Dublin, Ohio and currently
identified as 4900 Tuttle Crossing Blvd., Dublin, Ohio (the
“Leased Premises”);
WHEREAS, the Lease was
amended February 2, 1998 to provide for an expiration date of
December 31, 2009;
WHEREAS , the Lease
was amended November 30, 2005 to increase the monthly rental
amount to $39,424.19 beginning December 1, 2005 and continuing
throughout the remaining lease term;
WHEREAS , Landlord and
Tenant mutually desire to further amend the Lease;
NOW THEREFORE , for
good and valuable consideration, the sufficiency of which hereby is
acknowledged, Landlord and Tenant agree to amend the Lease as
follows:
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1. |
Term – Effective November 30, 2007, the
amended December 31, 2009 lease expiration date shall be
deleted and a new ten-year lease term shall commence
December 1, 2007 and expire on November 30, 2017 (the
“Revised Term”). |
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2. |
Rent – Tenant agrees to pay to Landlord as Fixed
Rent during the Revised Term, monthly installments in the amounts
set forth below: |
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Time Period
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Monthly Fixed Rent
Installment |
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December 1, 2007 to
November 30, 2008
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$ |
41,150.00 |
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December 1, 2008 to
November 30, 2009
|
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$ |
41,561.50 |
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December 1, 2009 to
November 30, 2010
|
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$ |
41,973.00 |
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December 1, 2010 to
November 30, 2011
|
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$ |
42,384.50 |
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December 1, 2011 to
November 30, 2012
|
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$ |
42,796.00 |
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December 1, 2012 to
November 30, 2013
|
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$ |
43,207.50 |
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December 1, 2013 to
November 30, 2014
|
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$ |
43,619.00 |
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December 1, 2014 to
November 30, 2015
|
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$ |
44,030.50 |
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Dec
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