Exhibit 10.33(b)
SECOND AMENDMENT
TO
OFFICE LEASE AGREEMENT
WITH
CHAUTAUQUA AIRLINES, INC.
THIS SECOND AMENDMENT, made and entered into this 2 day of October 1998, by
and between the Indianapolis Airport Authority, (hereinafter referred to as
"AUTHORITY"), and Chautauqua Airlines, Inc., a New York corporation, authorized
to do business in the State of Indiana, (hereinafter referred to as "LESSEE").
W I T N E S S E T H:
WHEREAS, LESSEE desires to rent additional office space on the fourth floor
of the Administration Building commonly known as ▇▇▇▇ ▇▇▇▇ and Room 415C; and
WHEREAS, LESSEE desires to have an option to extend their lease;
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants
contained herein, the parties hereby agree that Article 1., LEASED PREMISES.
Article 2., TERM, Article 3., RENTAL, LEASED PREMISES and Article 3 RENTAL
RENTAL SCHEDULE are hereby deleted and the following are substituted:
1. LEASED PREMISES
The term "Leased Premises" shall consist of 9,749.1 square feet on the
third floor of the Administration Building including the mens and womens
restrooms, although no rental is being charged for this square footage
and excepting the telephone equipment, mechanical, electrical and
janitorial rooms, corridor and lobby and 3.899.65 square feet on the
fourth floor of the Administration Building of which all of the rental
space is more particularly shown on Exhibit "A" dated September 15,
1998, attached hereto.
2. TERM
LESSEE shall have a different term for each floor it shall occupy. The
term for the third floor Leased Premises commenced on August 1, 1998 and
shall expire July 31, 2001. The term for the fourth floor Leased
Premises, except for Rooms 415A and 415C, commenced on August 1, 1998
and shall expire on July 31, 2000. The commencement date for Rooms 415A
and 415C shall begin on day of occupancy via letter of agreement and
shall expire on July 31, 2000.
LESSEE shall have an option to extend this Lease for an additional
term of three (3) years upon the rental terms outlined in Article 3. B.
LESSEE shall have a different term for each floor it shall occupy. The
option term for the third floor shall commence August 1, 2001 and shall
terminate on July 31, 2004. The option term for the fourth floor shall
commence on August 1, 2000 and shall expire on July 31, 2003.
LESSEE may exercise the option by mailing or delivering to AUTHORITY
written notice of such intention not later than six (6) months prior to
the date of expiration of the primary terms and the first option terms.
Notification date on the third floor shall be on or before February 1,
2001. Notification date on the fourth floor shall be on or before
February 1, 2000.
3. RENTAL
A. LEASED PREMISES
Rental for the use of said Leased Premises and appurtenances
thereto, LESSEE agrees to pay per annum in accordance with the
following rental schedules payable in advance in twelve (12) equal
payments on the first day of each calendar month affective on the
first day of occupancy.
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RENTAL SCHEDULE - PRIMARY TERM
THIRD FLOOR
AUGUST 1, 1998 THROUGH JULY 31, 2001
9,749.1 square feet X $10.50 p.s.f. = $102,365.55 per year payable
at $8,530.46 per month.
FOURTH FLOOR
AUGUST 1, 1998 THROUGH OCCUPANCY OF ROOMS 415A AND 415C
2,763.65 square feet X $10.50 p.s.f. = $29,018.33 payable at
$2,418.19 per month
OCCUPANCY OF 415A AND 415C THROUGH JULY 31, 2000
3,899.65 X $10.50 p.s.f = $40,946.33 per year payable at $3,412.19
per month
Rental for Rooms 415A and 415C shall begin on date of
occupancy via letter of agreement.
Any partial month of rent shall be prorated. Said rent shall be
payable at the office of the AUTHORITY or such other place as
AUTHORITY may from time to time designate.
B. RENTAL SCHEDULE - OPTION PERIODS.
THIRD FLOOR
August 1, 2001 - July 31, 2002
9,749.1 square feet X $11.00 per square feet = $107,240.00 per year
$ 8,936.69 per month
August 1, 2002 Through July 31, 2003
9,749.1 square feet X $11.50 per square feet = $112,114.65 per year
$ 9,342.89 per month
August 1, 2003 Through July 31, 2004
9,749.1 square feet X $12.00 per square feet = $116,989.20 per year
$ 9,749.10 per month
3
FOURTH FLOOR
August 1, 2000 through July 31, 2001
3,899.65 square feet X $11.00 per square feet = $42,896.15 per year
$ 3,574.68 per month
August 1, 2001 through July 31, 2002
3,899.65 square feet X $11.50 per square feet = $44,845.98 per year
$ 3,737.16 per month
August 1, 2002 through July 31, 2003
3,899.65 square feet X 12.00 per square feet = $46,795.80 per year
$ 3,899.65 per month
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THIS SECOND AMENDMENT shall be effective this 2 day of October, 1998 and
all other terms of the basic Lease dated June 17, 1994, shall remain the same.
IN WITNESS WHEREOF, the parties have caused this instrument to be
executed as of the date first above mentioned.
INDIANAPOLIS AIRPORT AUTHORITY
By /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇, President
By /s/ ▇▇▇▇▇▇ St. ▇▇▇▇▇▇
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▇▇▇▇▇▇ St. ▇▇▇▇▇▇, Vice President
By /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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▇▇▇▇ ▇. ▇▇▇▇▇▇▇, Secretary
By [SEAL OF ABSENT]
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▇▇▇ ▇. ▇▇▇▇▇▇, Member
By /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇, Member
By /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, Member
By /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
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▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, Member
AUTHORITY
CHAUTAUQUA AIRLINES, INC.
By /s/ [ILLEGIBLE]
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Title Executive V.P. & COO
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