Exhibit 10.4
SECOND AMENDMENT
TO LEASE OF 1050 BUCKINGHAM STREET, WATERTOWN, CT BETWEEN HENRY
E. BAKER FOR THE BAKER GRANDCHILDREN TRUST U/T/A DATED MAY 5,
2000
AND CRYSTAL ROCK SPRING WATER COMPANY DATED
MAY 5, 2000
WHEREAS, the Parties executed a lease
for the subject premises on May 5, 2000; and
WHEREAS, Crystal Rock Spring Water
Company has been merged into Crystal Rock LLC, a Delaware limited
liability company, which is a wholly owned subsidiary of Vermont
Pure Holdings, Ltd. A Delaware corporation; and
WHREAS, Vermont Pure Holdings, Ltd.
has and is again fully assuming this lease obligation of Crystal
Rock Spring Water Company; and
WHEREAS, the parties executed a First
Amendment to said Lease on October 2, 2000; and
WHEREAS, the Parties wish to amend
said lease a second time as follows:
NOW, THEREFORE, for $1.00 and other
valuable consideration, the Parties agree to modify said lease as
follows:
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1. |
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The parties acknowledge that the ten year term of the lease
expires on October 5, 2010 and that the Rent currently is FOUR
HUNDRED FOURTEEN THOUSAND and 00/100 DOLLARS ($414,000.00) per
annum, payable in equal monthly installments, in advance, of THIRTY
FOUR THOUSAND FIVE HUNDRED and 00/100 DOLLARS ($34,500) per
month. |
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2. |
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The parties agree to replace Article XXIX, OPTIONS TO
RENEW, of the lease, with the following: |
Article XXIX — Extension of Lease and Option to
Renew :
A.
Provided Tenant is not then in default beyond any applicable grace
period, this lease is extended and renewed for an additional term
of six (6) years (the “First Renewal Term”) from
the tenth anniversary of the Rent Commencement Date (months
121-144). Rent shall be FOUR HUNDRED FIFTY TWO THOUSAND TWO HUNDRED
FIFTY and 00/100 DOLLARS ($452,250.00) per annum, payable in equal
monthly installments of THIRTY SEVEN THOUSAND SIX HUNDRED EIGHTY
SEVEN and 50/100 DOLLARS ($37,687.50).
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