EXHIBIT 10.30
SECOND AMENDMENT TO LEASE
This Second Amendment to Lease ("Second Amendment") is effective
September ___, 2001 and is entered into between XXXXXXX X. XXXXXXXXX, XXXX XXXXX
AND XXXXXXX X. XXXXX, individuals (hereinafter collectively referred to as
"Lessor") and K&G MEN'S COMPANY, INC., a Delaware Corporation (hereinafter
referred to as "Lessee").
WHEREAS, Lessor and Lessee entered into that certain lease agreement
dated October 1, 1994, as amended by that Amendment to Lease dated April 16,
1996 (hereinafter collectively "Lease") whereby Lessee leased from Lessor that
certain tract of land being Lot 5 and the South 20 feet of Xxx 0, xx XXXXX X, xx
XXXXXXX XXXXXXXXXX XXXXXXXX, an Addition to the City of Irving, Dallas County,
Texas, according to the Map or Plat thereof recorded in Volume 402, Page 1437,
of the Map Records of Dallas County, Texas together with all buildings,
structures and other improvements, now or hereafter located thereon, containing
approximately 12,500 square feet of frontage, and located at 0000 X. Xxxx
Xxxxxxxxx Xxxxxxx, Xxxxxx, XX 00000 (herein collectively referred to as the
"Premises");
WHEREAS, Lessor and Lessee desire to amend the Lease as herein set
forth; and
NOW, THEREFORE, in consideration of Ten and No/100 Dollars ($10.00) in
hand paid by each party to the other and other good and valuable consideration
the receipt and sufficiency of which is hereby acknowledged, Lessor and Lessee
agree that the Lease is hereby amended as follows:
1. Section 2.01 of the Lease is amended by providing that the term of
the Lease shall be extended to include the period from and including October 1,
2001 through September 30, 2003 (herein referred to as the " Second Extended
Initial Term").
Provided Lessee is not in default under the terms of the Lease as of
the date of exercise, Lessee shall have the right and option (herein referred to
as the "Third Renewal Option") to extend the term of the Lease for an additional
one (1) year from October 1, 2003 through September 30, 2004 (herein referred to
as the "Third Extension Term") after the expiration of the Second Extended
Initial Term on the same terms and conditions set forth therein except the
annual rent shall be determined as herein set forth. Lessee shall exercise the
Third Renewal Option by written notice to Lessor given not less than one hundred
eighty (180) prior to the expiration of the Second Extended Initial Term.
Provided Lessee has exercised the Third Renewal Option and provided
Lessee is not in default under the terms of the Lease as of the date of
exercise, Lessee shall have the further right and option (herein referred to as
the "Fourth Renewal Option") to extend the term of the Lease for an additional
one (1) year from October 1, 2004 through September 30, 2005 (herein referred to
as the "Fourth Extension Term") after the expiration of the Third Extension Term
upon the same terms and conditions as set forth therein except that the annual
rent shall be determined as herein set forth. Lessee shall exercise the Fourth
Renewal Option by written notice to Lessor
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given not less than one hundred eighty (180) days prior to the expiration of the
Third Renewal Term.
2. Section 4.01 of the Lease is amended by providing that during the
Lease terms as set forth below, Lessee agrees to pay Lessor, as rent hereunder,
an annual rent as follows:
SECOND EXTENDED MONTHLY
INITIAL TERM ANNUAL RENT INSTALLMENTS
10/1/01 - 9/30/03 $74,500.00 $6,208.33
THIRD EXTENSION MONTHLY
TERM ANNUAL RENT INSTALLMENTS
10/1/03 - 9/30/04 $78,970.00 $6,580.33
FOURTH EXTENSION MONTHLY
TERM ANNUAL RENT INSTALLMENTS
10/1/04 - 9/30/05 $83,708.20 $6,975.68
3. The parties hereby acknowledge that the Second, Third and Fourth
Extension Terms as set forth herein supersede and replace the extensions as set
forth in Paragraph 2 of the Amendment to Lease dated April 15, 1996.
4. Lessor and Lessee hereby each warrant and represent to the other
that there are no brokers or finders' fees or any real estate commissions due to
any broker or other party in connection with the negotiation or execution of
this Lease, or on behalf of either of them. Lessor and Lessee also hereby agree
to indemnify and hold each other harmless from and against any and all costs,
expenses (including attorneys' fees), liabilities, causes of action, claims or
suits by any party for compensation, commissions, fees or other sums claimed to
be due or owing with respect to this Lease.
5. The Lease, as amended hereby, is and shall remain in full force and
erect and is hereby ratified and confirmed in all respects. In the event of a
conflict between the terms of the Lease or the terms of this Second Amendment,
the terms of this Second Amendment shall control.
6. Each and every covenant, term, condition and obligation contained in
this Lease shall apply to and be binding upon and inure to the benefit or
detriment or the respective legal representatives, successors and permitted
assigns of Lessor and Lessee. Whenever reference to the parties hereto is made
in this Lease, such reference shall be deemed to include the legal
representatives, successors and assigns of said party the same as if in each
case expressed.
7. Each of Lessor and Lessee warrant to the other that they are duly
authorized representatives, fully authorized to enter into this Amendment on
such party's behalf and shall indemnify and hold the other harmless from all
claims and losses of whatsoever nature arising as a result of breach of said
warranty.
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IN WITNESS WHEREOF, Lessor and Lessee have caused these presents to be
duly executed and their seals to be affixed hereunto as of the day and year
first above written.
"LESSOR"
XXXXXXX X. XXXXXXXXX
XXXX XXXXX
XXXXXXX X. XXXXX
By:
State of GA
County of Xxxx
On 11/14/01 before me the undersigned Notary Public did this date
appear _________________, known to me, who acknowledged to me that he is the
person named in the instrument and he executed the same in his authorized
capacity and that by his signature on the instrument the person executed the
instrument.
Witness my hand and official seal
[STAMP]
/s/ XXXXXXX XXXXX
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"LESSEE"
K&G MEN'S COMPANY, INC.
/s/ XXXXXX X. XXXXXXXX
---------------------------------
By: Xxxxxx X. Xxxxxxxx
Its: Vice-President
State of California
County of Alameda
On November 12, 2001 before me the undersigned Notary Public did this
date appear Xxxxxx X. Xxxxxxxx known to me, who acknowledged to me that he is
the person named in the instrument and he executed the same in his authorized
capacity and that by his signature on the instrument the person executed the
instrument.
Witness my hand and official seal
/s/ XXX X. XXXXXX
---------------------------------
[STAMP]
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