EXHIBIT 10.4.2
FIRST AMENDMENT TO LEASE
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THIS FIRST AMENDMENT TO LEASE ("Amendment") is made and entered into this
27th day of March, 1998, by and between XXX XXXX REALTY, INC., a Delaware
corporation ("Landlord") and SUPER VISION INTERNATIONAL, INC., a Delaware
corporation ("Tenant").
W I T N E S S E T H:
WHEREAS, Landlord and Tenant previously entered into that certain Lease
(the "Lease") with an effective date of September 27, 1996, for certain
commercial premises located in Orange County, Florida, and
WHEREAS, Landlord and Tenant desire to amend the lease as provided herein.
NOW, THEREFORE, in consideration of Ten and No/100 Dollars ($10.00) and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:
1. The aforementioned recitals are true and correct and are incorporated
herein by this reference.
2. All capitalized terms used herein shall have the meaning ascribed
thereto in the Lease unless otherwise defined herein.
3. The following provision which is contained within Paragraph 3.A of the
Lease:
"Commencing in the fourth Lease Year, and payable monthly, the Base
Rental will be increased annually by an amount equal to five (5%)
percent of the Base Rental paid in the previous Lease Year, including
the Base Rental to be paid during the five (5) year option as provided
in Paragraph 36 hereof, should Tenant exercise its option to extend the
term of this Lease."
is hereby amended in its entirety to read as follows:
"The Base Rental which is due and payable during the fourth (4th) Lease
Year shall be equal to the Base Rental which is due and payable during
the third (3rd) Lease Year. Commencing with the fifth (5th) Lease Year,
and payable monthly, the Base Rental will be increased bi-annually
(i.e., every two (2) Lease Years) by an amount equal to five (5%)
percent of the Base Rental paid in the previous Lease Year, including
the Base Rental to be paid during the term of the five (5) year option
as provided in Paragraph 36 hereof, should Tenant exercise its option
to extend the term of this Lease. Accordingly, and by way of example,
the Base Rental which is due and payable during the fifth (5th) Lease
Year shall be five (5%) percent greater than the Base Rental paid
during the fourth (4th) Lease Year. Similarly, the Base Rental which is
due and payable during the seventh (7th) Lease Year shall be five (5%)
percent greater than the Base Rental paid during the sixth (6th) Lease
Year, and so forth."
4. To the extent any provisions of the Lease are inconsistent with this
Amendment, this Amendment shall control and the terms of the Lease are
superseded and without legal effect.
5. Except as otherwise set forth herein, the terms and conditions of the
Lease are hereby ratified and confirmed in all respects and shall
remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment
to Lease Agreement the day and year first above written.
WITNESSES: LANDLORD:
XXX XXXX REALTY, INC.
a Delaware corporation
/s/ Xxxxxx Xxxx See
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Print Name: Xxxxxx Xxxx See By: /s/ Xxxxx X. Kingstone
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/s/ Xxxxx Xxxxx, Xx. Print Name: Xxxxx X. Kingstone
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Print Name: Xxxxx Xxxxx, Xx. Its: President
Dated: 3/26/98
TENANT:
SUPER VISION INTERNATIONAL,
INC., a Delaware corporation
/s/ Xxxxxx Xxxx See
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Print Name: Xxxxxx Xxxx See By: /s/ Xxxx X. Xxxxxxx
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/s/ Xxxxx Xxxxx, Xx. Print Name: Xxxx X. Xxxxxxx
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Print Name: Xxxxx Xxxxx, Xx. Its: President
Dated: 3/26/98
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