ASSIGNMENT
AND
FIRST AMENDMENT
TO
NET LEASE AND JOINT USE AGREEMENT
This Assignment and First Amendment (the "First Amendment")
amends that certain Net Lease and Joint Use Agreement dated as of March 1, 1994
(the "Lease"), and is entered into by and between L. Xxxxx Xxxxxx, a married man
dealing with his sole and separate property ("Landlord"), Knight Transportation,
Inc., an Arizona corporation ("Tenant") and the RK Trust dated as of April 1,
1993, wherein L. Xxxxx Xxxxxx is both Trustor and Trustee (the "Trust"), as the
assignee of the Landlord.
RECITALS
--------
The real property subject to the Lease has been transferred by
Landlord to the Trust;
Landlord wishes to transfer and assign the Lease to the Trust
and the Trust wishes to assume each and every obligation of Tenant under the
Lease and to be substituted as Landlord under the Lease;
Tenant is willing to consent to the transfer of the Lease to
the Trust and to the substitution of the Trust for Xxxxx Xxxxxx, as Landlord
under the Lease.
NOW, THEREFORE, for good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties agree as
follows:
AGREEMENT
---------
1. Assignment of Lease. Landlord hereby transfers and assigns
to the trust all of Landlord's right, title and interest in the Lease, and the
Trust hereby accepts such assignment.
2. Substitution of Trust as Landlord. Landlord, Tenant, and
the Trust hereby agree that as of the effective date of this Agreement, the
Trust shall become the Landlord under the Lease and all references to the
Landlord under the Lease shall refer to the Trust. Tenant hereby agrees that
Xxxxx Xxxxxx shall have no further obligations as Landlord under the Lease and
releases Xxxxx Xxxxxx from such obligations.
3. Trust Assumes Landlord's Obligations. The Trust hereby
assumes and agrees to perform each and every obligation of the Landlord under
the Lease for and on behalf of Xxxxx
Exhibit 10.2.1
Knight. Knight, as Tenant under the Lease, hereby consents to the assignment of
the Lease to the Trust and the substitution of the Trust as Landlord under the
Lease and agrees to render all performances required of the Tenant under the
Lease to the Trust, as Landlord, and hereby accepts the Trust as the Landlord
under the Lease.
4. Terms and Conditions. All other terms and conditions of the
Lease shall remain in full force and effect. By execution of this Lease, the
parties hereby ratify, confirm and approve the Lease, as amended hereby, and
agree that the Lease is in full force and effect.
5. Effective Date. This First Amendment shall be effective as
of September 1, 1994.
DATED this 19th day of September, 1994.
/s/ Xxxxx Xxxxxx
----------------------------------------
XXXXX XXXXXX, former Landlord
KNIGHT TRANSPORTATION, INC.,
an Arizona corporation, Tenant
By /s/ Xxxxx X. Xxxxxx
--------------------------------------
Its Chief Executive Officer
-----------------------------------
THE RK TRUST dated as of April 1, 1993,
wherein L. Xxxxx Xxxxxx is Trustor and
Trustee (the "Trust"), Assignee and
substituted Landlord
By /s/ Xxxxx Xxxxxx
--------------------------------------
L. Xxxxx Xxxxxx, Trustee
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