Exhibit 10.4(b)
|
STATE OF SOUTH
CAROLINA
|
)
|
|
|
|
)
|
AMENDMENT TO
LEASE
|
|
COUNTY OF HORRY
|
)
|
|
THIS AMENDMENT TO
LEASE (the
“Amendment”), made this 12th day of February, 2008
(the “Effective Date”), by and between MYRTLE BEACH
FARMS COMPANY, INC., a South Carolina corporation, hereinafter
referred to as “LANDLORD”, and COASTAL CAROLINA
DREAM TEAM, LLC , a South Carolina limited liability company,
hereinafter referred to as
“TENANT”.
W I T N E S S E T
H:
WHEREAS,
there is a Lease Agreement
by and between LANDLORD and TENANT dated November 13, 2007,
for approximately 1.29 acres of land with Horry County Tax Map
#181-03-39-005, located in Myrtle Beach, South Carolina;
and,
WHEREAS , the parties desire to amend the
Lease Agreement to revise the Rent section as
follows:
NOW, THEREFORE
, in consideration of the
foregoing and for other good and valuable consideration, the
receipt and legal sufficiency of which are hereby acknowledged,
Landlord and Tenant agree as follows:
1.
Rent : The Tenant shall pay to the Landlord Six
Thousand Six Hundred Ninety-Three and 75/100 Dollars ($6,693.75)
per month, due and payable on or before the first (1 st
) day of each month, commencing November 1, 2007 and
continuing through April 30, 2008. The Tenant shall pay
to the Landlord Thirteen Thousand Three Hundred Eighty-Seven and
50/100 Dollars ($13,387.50) per month, due and payable on or before
the first (1 st ) day of each month, commencing
May 1, 2008 and continuing through October 31,
2010. All rent payments should be mailed to Landlord at the
following payment address: P.O. Box 9179, Myrtle Beach,
SC 29578-9179.
In the event
Tenant shall exercise its first (1 st ) Extension Term,
the Tenant shall pay to the Landlord the sum of One Hundred
Sixty-Five Thousand Four Hundred Sixty-Nine and 50/100 Dollars
($165,469.50) per annum, payable in equal monthly installments of
Thirteen Thousand Seven Hundred Eighty-Nine and 13/100 Dollars
($13,789.13) due and payable on or before the first (1
st ) day of each month, commencing on November 1,
2010 and continuing through October 31, 2011.
In the event
Tenant shall exercise its second (2 nd ) Extension Term,
the Tenant shall pay to the Landlord the sum of One Hundred Seventy
Thousand Four Hundred Thirty-Three and 59/100 D
