Exhibit 10.1. Eighth Amendment to Lease Agreement.
EIGHTH AMENDMENT TO LEASE
THIS AGREEMENT made the 1st day of April, 1998, by and between
THE XXXXXX INVESTMENT COMPANY, having offices at 0000 Xxxxxxx Xxxxxxxx,
Xxxxxxxx, Xxx Xxxx 00000, hereinafter referred to as the "LANDLORD" and DELTA
FUNDING CORPORATION, having offices at 0000 Xxxxxxxx Xxxx, Xxxxxxxx, Xxx Xxxx
00000, hereinafter referred to as the "TENANT".
W I T N E S S E T H :
WHEREAS, the parties have heretofore on or about the 1st day of
November, 1993, entered into a certain agreement of lease, which was amended the
20th day of January, 1994, the 23rd day of March, 1994, the 8th day of December,
1995 (3rd Amendment), the 8th day of December, 1995 (4th Amendment), the 4th day
of March, 1996, the 28th day of August, 1997 and the 29th day of October, 1997,
for certain premises located at 0000 Xxxxxxxx Xxxx, Xxxxxxxx, Xxx Xxxx and
NOW, THEREFORE, in consideration of One Dollar and other good and valuable
consideration, each in hand paid to the other, the receipt whereof is hereby
acknowledged and in further consideration of the mutual covenants contained
herein, it is agreed as follows:
FIRST: TENANT shall surrender 2,410 square feet on the fourth
floor as noted on the floor plan attached hereto as Exhibit "A", making TENANT'S
total Demised Premises 115,894 square feet rentable.
SECOND: Commencing on the date the TENANT delivers the 2,410
square feet to allow the LANDLORD to construct the demising wall, TENANT shall
pay an Annual Basic Rent in equal monthly installments as per the following
schedule:
TERM ANNUAL BASIC RENT MONTHLY RENT
Lease Year 1 $2,433,774.00 $202.814.50
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Lease Year 2 $2,519,535.56 $209,961.30
Lease Year 3 $2,607,615.00 $217,301.25
Lease Year 4 $2,699,171.26 $224,930.94
Lease Year 5 $2,794,204.34 $232,850.36
Lease Year 6 $2,891,550.30 $240,962.53
Lease Year 7 $2,992,383.08 $249,365.26
Lease Year 8 $3,096,687.68 $258,057,31
Lease Year 9 $3,205,628.04 $267,135.67
Lease Year 10 $3,318,045.22 $276,503.77
THIRD: Section "Sixth" of the Seventh Amendment to Lease
shall be changed to read as follows: "...rentable area of the Demised
Premises (i.e., 115,894 square feet)...form a part (i.e., 230,000 square
feet), i.e., 50.39%."
FOURTH: Section "Seventh" of the Seventh Amendment to Lease
shall be changed to read as follows: "...TENANT'S Energy Base =
$405,629.00..."
FIFTH: Section "Eighth" of the Seventh Amendment to Lease
shall be changed to read as follows: "...pay the sum of $220,198.60 per year
in equal monthly installments of $18,349.81 in advance..."
SIXTH: Sections "Twelfth", "Thirteenth", "Fourteenth" and
"Fifteenth" of the Seventh Amendment to Lease shall be adjusted proportionately
based upon the actual square footage at the time of any surrender of space.
SEVENTH: Nothing herein shall modify any rent credits due to
the TENANT under the Seventh Amendment to Lease
EIGHTH: The foregoing provisions are intended to modify said
lease only in the foregoing respects and such modifications and the terms hereof
as herein set forth are to be strictly
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construed. It is further agreed that except as herein above provided all of
the terms, convenants and conditions of said lease dated the 1st day of
November, 1993 and amended the 20th day of January, 1994, the 23rd day of March,
1994, the 8th day of December, 1994 (3rd Amendment), the 8th day of December,
1995 (4th Amendment), the 4th day of March, 1996, the 28th day of August, 1997
and the 29th day of October, 1997, shall continue to remain in full force and
effect as therein written and shall be read and construed together with this
instrument.
IN WITNESS WHEREOF, the parties hereto have hereunto set their
hands and seals the day and year first above written.
THE XXXXXX INVESTMENT COMPANY
By: /s/ XXXXX XXXXXX
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DELTA FUNDING CORPORATION
By: /s/ XXXX X. XXXXXX
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