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Exhibit
10.1
SECOND MODIFICATION OF
LEASE
This Second Modification of
Lease (the “Second Modification”) is made and entered
into as of the 30th day of November, 2007 between BRC
PROPERTIES, INC., an Ohio corporation (“Landlord”)
and DOMINION HOMES, INC., an Ohio corporation
(“Tenant”).
WHEREAS, a certain
Lease (the “Lease”) was executed July 21, 2003, by
and between Landlord and Tenant, pursuant to which Tenant leased
35,000 gross square feet of office space, being all of the building
currently identified as 5000 Tuttle Crossing Blvd., Dublin, Ohio
(the “Leased Premises”);
WHEREAS, the Lease was
amended October 31, 2003 to reflect a change of address for
the Leased Premises and to change the expiration date of the Lease
from September 30, 2018 to October 31, 2018;
WHEREAS , Landlord and
Tenant mutually desire to further amend the Lease to include an
Early Termination Option for Tenant;
NOW THEREFORE , for
good and valuable consideration, the sufficiency of which hereby is
acknowledged, Landlord and Tenant agree to amend the Lease to add
the following Early Termination Option:
Early Termination
Option
Tenant shall have an option
to terminate the Lease effective at any time on or after
December 1, 2007. Tenant may exercise its option by giving
written notice to Landlord specifying the date the Lease shall
terminate (the “Termination Date”), provided that the
Termination Date shall be no sooner than thirty (30) days
after the date of Tenant’s notice. On or before the 15
th
day prior to the Termination
Date, Tenant shall pay to Landlord: (i) an early termination
fee in the amount of Three Hundred Eighty-Five Thousand Dollars
($385,000.00); and (ii) Fixed Rent and any other charges due
and payable under the L
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