FOURTH AMENDMENT TO LEASELease Agreement |
|
|
|
You are currently viewing: This Lease Agreement involves
Aerospace/Defense, Inc | Force Protection Industries, Inc | Force Protection, Inc. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
|
|
|
|
THIS FOURTH AMENDMENT TO LEASE ( "Amendment" ) effective as of November 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" ). A. By Industrial Lease effective as of July 13, 2004, the Landlord leased unto Tenant certain premises within Building No. 2 situated in an industrial project (the "Project" ) located in Ladson (Charleston County), South Carolina which instrument was amended by Letter executed on July 18, 2006 and by Second Amendment to Lease effective as of February 1, 2007 (the "Second Amendment" ) and by Third Amendment to Lease effective as of July 1, 2007 (the "Third Amendment" ). The Industrial Lease as amended by the July 18, 2006 Letter, the Second Amendment and the Third Amendment shall hereinafter be referenced as the "Lease." By the execution of this Amendment, the parties intend to amend the Lease. Each capitalized term used and not otherwise defined or modified herein shall have the meaning ascribed thereto in the Lease. B. At the request of the Tenant, the Landlord has agreed to modify the term "Premises" as follows: 1. Adding the area marked "Tank Farm Area" shown and cross-hatched on Exhibit A to this Amendment (an area of approximately 80' × 100' situated to the south and adjacent to Building No. 2) to Paragraph 1(a) of the Lease, which Tank Farm Area is hereby added to the definition of "Premises" which area is comprised of the following: (a) The "Tank Farm Area" ; and (b) The existing tank farm consisting of the following: (i) Two (2) tanks of approximately 50,000 gallons each; (ii) One (1) tank of approximately 10,000 gallons (together with the two tanks referenced in subsection (i) above the "Existing Tanks" ); (iii) Containment area surrounding the Existing Tanks (the "Containment Area" ); (iv) Pump House shown on Exhibit A as "Pump House" ; (v) Truck dock shown on Exhibit A as "Truck Dock" with sump pump located therein (the sump pump together with the truck dock are hereinafter collectively referred to as the "Truck Dock" ; and (vi) Pump and existing piping and other equipment located within the Pump House, and piping, gauges and the like directly associated with the Existing Tanks (the pump, associated piping, equipment, gauges, etc. are hereinafter referred to as the "Existing Tank Farm Equipment," together with the Containment Area, the Truck Dock and the Existing Tanks, the "Existing Tank Farm" ). The Tenant intends to construct (at its sole cost and expense and without contribution from the Landlord) a containment area (described on the plans marked Exhibit A-1 ), install several tanks, pumps, piping and associated equipment with the new tanks within the Tank Farm Area (adjacent the Existing Tank Farm) in an area shown as "New Tank Farm" on Exhibit A-2 (collectively, the "New Tank Farm" ). 2. Adding to the definition of Premises a building containing approximately 2,040 square feet measuring approximately 51' × 40' located to the south of Building No. 2 and to the east of the Tank Farm Area and shown and delineated on Exhibit B as the "Dyno Building" upon which the Tenant intends to install machinery to test vehicles constructed/assembled in Building No. 2. (For clarification, the electric oven which was situated in the Dyno Building has been removed therefrom by the Tenant and is being temporarily stored in Building No. 1 of the Project until it is sold by the Landlord.) C. In consideration for amending the Lease as referenced in Recital B above, the Tenant agrees to amend Paragraph 3(a) by increasing the Base Rent for the Premises and by further amending the Lease as hereinafter provided. D. 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. Paragraph 1 ( The Premises ), Section (a) of the Lease is modified by adding thereto the Tank Farm Area and Existing Tank Farm referenced in Recital B 1 and the Dyno Building referenced in Recital B2. 3. The parties acknowledge and reaffirm Paragraph 1(b) of the Lease (as well as the other terms and provisions thereof not inconsistent with the terms and provisions of this Amendment). The Landlord makes no representations or warranties whatsoever as to the condition o |
AGREEMENTS / CONTRACTS
CLAUSES
| Get Email Updates |







