EXHIBIT 10.16
ASSUMPTION AND GUARANTEE OF LEASE
THIS ASSUMPTION AND GUARANTEE OF LEASE is made and entered into as of
this 30th day of December, 1996 by and among XXXXXX XXXXXX (XXXXXX), an
individual residing in Mequon, Wisconsin, and KINGSTON PRESS, INC. (KINGSTON),
a Delaware corporation with offices located in Palm Beach, Florida.
WHEREAS, on July 14, 1989, XXXXXX, as Lessor, entered into a Lease with
RAVEN PRESS, INC., a Wisconsin corporation, as Lessee, for the leasing of an
industrial building located at X00 X00000 Xxxx Xxxxxx in the Village of
Sussex, Waukesha County, Wisconsin located on a property more particularly
described as follows:
Xxx 0, Xxxxx 0 xx Xxxxxxxxx Xxxxxx Xxx Xx. 0000, recorded on March 3, 1980 in
Volume 329 of Certified Survey Maps on Pages 141, 142 and 143 as Document No.
1121332, being a part of the Xxxxxxxxx 0/0 Xxxxxxx 00, Xxxx 0 Xxxxx Xxxxx 00
Xxxx, Xxxxxxx xx Xxxxxx, Xxxxxx xx Xxxxxxxx, Xxxxx of Wisconsin; and
WHEREAS, said Lease ran for an initial term of five (5) years from
September 1, 1989 through August 31, 1994; and
WHEREAS, in 1994 RAVEN PRESS, INC. exercised its right and option under
Paragraph 41 for said Lease to extend the lease term for an additional term of
five (5) years, that is through the 31st day of August, 1999; and
WHEREAS, in all other respects the Lease continues in full force and
effect, and
WHEREAS, on March 29, 1996, Kingston (as assignee of Princeton
Publishing, Inc.) entered into an agreement with Raven Press, Inc., whereas
among the things, Raven Press Inc. assigned its rights pursuant to the Lease
to Kingston; and whereas, Kingston has agreed to assume the future obligation
of Raven Press, Inc. in and of the lease; and
WHEREAS, the parties hereto wish to reduce the assumption to a written
agreement.
NOW THEREFORE, in consideration of the sum of $10.00 and of other good
and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the undersigned hereby agree as follows:
1. KINGSTON PRESS, INC. hereby assumes all of the future obligations,
duties and responsibilities of RAVEN PRESS, INC. under the lease dated July
14, 1989, a copy of which is attached hereto, including the payment of future
rent and all other future obligations of the Lessee under said Lease.
2. For purpose of a notice under the Lease, the parties hereto and all
notices to the parties shall be given to the following:
LESSOR:
Xxxxxx Xxxxxx
Attn: Xx. Xxxx X. Xxxxxxx
X00 X00000 Xxxxxxxxx Xxx
XX Xxx 000
Xxxxxxxxx Xxxxx, Xxxxxxxxx 00000-0000
LESSEE:
Xxxxxx X. Xxxxxxx
Kingston Press, Inc.
000 Xxxxxxxxx Xxx., Xxxxx 000
Xxxx Xxxxx, Xxxxxxx 00000
3. In all other respects the terms, conditions and provisions of the Lease
dated July 14, 1989 are in full force and effect.
ACKNOWLEDGED & ACCEPTED BY:
LESSEE
KINGSTON PRESS, INC.
/s/ Xxxxxx X. Xxxxxxx
Xxxxxx X. Xxxxxxx, Vice President - Finance, Treasurer
12/30/96
Date
LESSOR
/s/ Xxxxxx Xxxxxx
XXXXXX XXXXXX
2/7/97
Date
