FIRST AMENDMENT TO LEASE AGREEMENT
THIS FIRST AMENDMENT TO LEASE AGREEMENT is made this 22ND day of
DECEMBER, 1997, to the Lease dated March 12th, 1997, by and between SCOTTSDALE
STETSON CORPORATION, AN ARIZONA CORPORATION, as Landlord, and VIRTUAL
TECHNOLOGIES, INC., A NEVADA CORPORATION, as Tenant for the premises located at
0000 Xxxx Xxxxxxx Xxxxx, Xxxxx 000, Xxxx xx Xxxxxxxxxx, Xxxxxx of Maricopa,
State of Arizona, known as the "Existing Lease".
WITNESSETH:
WHEREAS, it is the mutual desire of the parties herein above to amend
said Lease as follows:
1. Under the terms of the lease between Scottsdale Stetson
Corporation and Virtual Technologies, Inc, Tenant failed to
exercise its Option to Renew as specified on page 30, paragraph
49, of the lease, and such option is null and void.
2. The term of the lease is hereby extended from March 12th, 1998
to March 11, 1999, with the Guaranteed Minimum Monthly Rental
being increased to $1,845.33.
All other terms and conditions set forth in the existing lease remain in effect.
In witness whereof, this First Amendment to Lease Agreement has been executed on
the date first written above.
SCOTTSDALE STETSON CORPORATION, LANDLORD
/s/ Xxxxxxx X. Xxxxx
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BY: XXXXXXX X. XXXXX
TITLE: PRESIDENT
VIRTUAL TECHNOLOGIES, INC., TENANT
/s/ Xxxx Xxxxxxxx
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BY: XXXX XXXXXXXX
TITLE: PRESIDENT
