EXHIBIT 10.17
SECOND AMENDMENT TO COMMERCIAL LEASE
FOR VALUABLE CONSIDERATION, the adequacy and receipt of which is
hereby acknowledged, that certain Commercial Lease dated May 17, 1996 ("Lease")
entered into by and between the Xxxxxxx X. Xxxx and Xxxx Xxxx Trust u/d/t
January 21, 1982 ("Landlord") and Disc Graphics, Inc. ("Tenant"), as amended by
that certain First Amendment to Commercial Lease dated March 18, 1998 ("First
Amendment"), is hereby amended in the following particulars only:
1. Pursuant to Paragraph 1.2 of the Lease, Tenant hereby exercises its
Renewal Option to extend the term of the Lease for one (1) year, thereby
extending the term of the Lease to May 18, 2001.
2. Commencing with the basic monthly rental payment due on June 1,
2000, and continuing each month thereafter of the term of the Lease, the basic
monthly rental payment shall be increased from $18,405.33 to $22,405.33. Said
monthly rental payment increase shall be in lieu of the rental adjustment to be
made as of June 1, 2000 pursuant to Section 3.2 of the Lease. For the avoidance
of doubt, the basic monthly rental payment due on June 1, 2000 and each month
thereafter of the term of the Lease shall remain subject to the terms and
conditions of the Rental Abatement provided for in Paragraph 2 of the First
Amendment.
3. On or after June 1, 2000 and provided that Tenant is not then in
default under the Lease, Tenant shall have the option to effectuate an early
termination of the Lease ("Termination Option"). If Tenant elects to exercise
the Termination Option, same shall be exercised by Tenant giving written notice
of exercise of the Termination Option to Landlord at least six (6) months prior
to the requested termination date.
4. Except as otherwise provided for herein, the terms of the Lease, as
amended by the First Amendment, shall remain in full force and effect.
5. This Second Amendment to Commercial Lease may be executed by the
parties exchanging facsimile signed counterparts of same.
IN WITNESS WHEREOF, this Second Amendment to Commercial Lease is
executed as of the set forth hereinbelow.
Dated: February 16, 2000 "Landlord"
THE XXXXXXX X. XXXX AND XXXX XXXX
TRUST u/d/t January 21, 1982
By: /s/ Xxxxxxx X. Xxxx
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XXXXXXX X. XXXX, Trustee
By: /s/ Xxxx Xxxx
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XXXX XXXX, Trustee
(Signatures continued on next page)
Dated: February 16, 2000 "Tenant"
DISC GRAPHICS, INC.
By: /s/ Xxxxxx X. Xxxxxx
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XXXXXX XXXXXX, President
