Exhibit 10.16
SECOND AMENDMENT TO
LEASE
THIS SECOND
AMENDMENT TO LEASE (“ Amendment ” or “
Second Amendment ”) is effective as of February 1,
2007 by and between Aerospace/Defense, Inc. , a South
Carolina corporation (hereinafter the “ Landlord
”) and Force Protection Industries, Inc. (f/k/a
Technical Solutions Group, Inc.) and Force Protection, Inc.
(collectively, the “ Tenant ”).
Recitals
A.
By Industrial Lease entered into as of July 13, 2004, as amended by
letter signed by the Tenant on July 18, 2006 (“ First
Amendment ”), 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. The Industrial Lease as amended by the
First Amendment shall hereinafter be referenced collectively as the
“ Lease .” By the execution of this Second
Amendment, the parties intend to amend the Lease as hereinafter
provided. Each capitalized term used and not otherwise defined or
modified herein shall have the meaning ascribed thereto in the
Lease.
B.
At the time the Lease was entered into as of July 13, 2004, and
currently, there exists a wall (the “ Wall ”)
located across the northern bay (the “ North Bay
”) of Building No. 2 (see Exhibit A ), which Wall is
more particularly described as follows:
The
Wall is located approximately 202’ east of the western wall
of Building No. 2 and is approximately 50” high — from
the floor to the ceiling joist roof line. The Wall is constructed
of concrete blocks from the floor to a height of 12’ with the
remainder of the Wall constructed of 5/8 inch sheet rock on each
side over metal studs. There are also several masonry support-wall
sections 1.5 concrete blocks wide (each block is approximately
12” wide) on each side of the Wall from the floor to the
ceiling to support the Wall and the metal studs. See Exhibit
B for a more detailed drawing and Exhibit C which is a
series of 24 pictures taken of the Wall on January 31, 2007. There
are two roll-up metal doors [one a Rytec electric high speed roll
up door with electronic controls 10’ (wide) by 15’
(height) and the other door a 10’ (wide) by 15’
(height) roll-up door with electronic operator] and one personnel
walk-through door more fully described and delineated in Exhibit
B . At the existing crane-rails (located about 45’ above
the floor), there are four crane-stops.
C.
The first sentence of Section 10(a) of the Lease provides as
follows: “Tenant shall make no structural alterations,
changes, additions or improvements (collectively “
Alterations ”) in or to the Premises without
Landlord’s prior written consent, which consent shall not be
unreasonably withheld.”
D.
The Tenant desires at its sole cost and expense (without
contribution by the Landlord) to demolish and remove the Wall and
crane-stops so that the North Bay is no longer divided by the Wall
and the cranes can run the full length (approximately 600’)
of the North Bay.
E.
At the request of the Tenant, the Landlord has agreed to consent to
the destruction and removal of the Wall and crane stops by the
Tenant pursuant to the terms, provisions, conditions an
