Exhibit 10.7
FIRST AMENDMENT TO GROUND
LEASE
THIS FIRST
AMENDMENT TO GROUND LEASE (“ Amendment ”)
effective as of July 1, 2007 by and between
Aerospace/Defense, Inc. , a South Carolina corporation
(hereinafter call the “ Landlord ”) and Force
Protection Industries, Inc. and Force
Protection, Inc. , Nevada corporations (collectively, the
“ Tenant ”).
RECITALS
A.
By Ground Lease effective as of February 1, 2007 (the “
Lease ”), the Landlord leased unto Tenant certain real
property situated in an industrial project (the “
Project ”) located in Ladson (Charleston County),
South Carolina. By the execution of this Amendment, the
Parties intend to amend the Lease according to the terms of
Subsection 27K of the Lease. Each capitalized term used
and not otherwise defined or modified herein shall have the meaning
ascribed thereto in the Lease.
B.
The Landlord and Tenant now wish to enter into this Amendment to
amend the Lease according to the terms, provisions and conditions
hereinafter set forth.
NOW THEREFORE, in
consideration of the mutual promises given one to the other, the
parties do hereby covenant and agree to amend and modify the Lease
as follows:
1.
All the recitals set forth above in the “ Recitals
” clauses are hereby made an integral part of this
Agreement.
2.
Section 2C of the Lease is modified by amending the first
sentence to read as follows:
“2C. The Initial Term of this Lease
and any extension thereof may be ex
