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Exhibit 10.1
LEASE AMENDMENT
FOR THE PREMISES KNOWN AS
0000 XXXXXX XXXX, XXXX 0000, XXX XXXXXXX, XXXXXXXXXX
This Amendment hereby modifies the Lease, dated October 24, 1991, subsequent
amendments and extensions between Xxxxxx Properties (successor "Landlord") and
Rollerball International, Inc.
(successor "Tenant").
Term. Two (2) years, commencing December 1, 1997 and ending November
30, 1999.
Rent. $3,750.00 fixed for entire term.
Rent Due. Rent shall be due no later than the fifth (5th) day of each
month; hereafter the late charge applies.
Suite
Improvements. Landlord will properly clean the carpet no less than every six
(6) months, or at Landlord's option if the carpet cannot be
cleaned on the first attempt, he may replace the carpet with a
color acceptable to both parties. Landlord will pay to have
the walls of the suite touched up with paint of the same
color, some walls of which should be repainted. Landlord will
repair the dishwasher so that the heating element works.
Landlord will pay up to $75.00 to have the exterior balcony
sealed. Landlord will pay to have the exterior balcony lights
made to work, and the screen doors made operable. Tenant shall
properly maintain the suite and fixtures thereafter.
Tenant's
Termination
Clause. Tenant may terminate the Lease Extension at anytime during the
extended Lease Term by giving sixty (60) days written notice
to Landlord along with funds equaling four (4) months rent
("termination fee"). Tenant shall be required to pay rent
during the sixty-day notification period. In lieu of this
termination fee, Tenant, with the reasonable cooperation of
Landlord, may elect to find a new tenant to lease the premises
at market rent (however, no less than Tenant's rent and
remaining term). The new tenant shall be acceptable to
Landlord in Landlord's sole and absolute discretion.
Landlord's
Termination
Clause. Landlord may terminate the Lease Extension at anytime during
the extended Lease Term by giving sixty (60) days written
notice to Tenant. Within fifteen (15) days after Tenant
vacates the premises, Landlord shall issue a check to Tenant
for $5,000.000 representing reimbursement of Tenant's moving
expenses. Landlord agrees not to tour the premises for sales
purposes prior to December 1, 1998.
Personal
Guarantors. Xxxx Xxxxxxxxxx & Xxxx Xxxxxxxxxx, jointly and severally,
personally guarantee the payment and performance required
under the Lease, amendments and extensions. Guarantors
understand that they and their personal assets are at
immediate risk should the Lease be in default.
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Unless herein amended, all other terms, conditions and provisions of the Lease
and subsequent amendments remain in full force and effect.
AGREED TO AND ACCEPTED THIS 2nd DAY OF DECEMBER, 1997.
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Xxxxxxx X. Xxxxxx Rollerball International, Inc.
Xxxxxx Properties, Ltd.
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Xxxx Xxxxxxxxxx, Personally
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Xxxx Xxxxxxxxxx, Personally
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ASSIGNMENT OF LEASE
The undersigned Lessees in that certain Lease covering the Premises known as
9255 Doheny Road, Unit 2705, in the City of West Hollywood, do hereby assign and
transfer all of our right, title and interest in and to the said Lease,
amendments and extensions to Rollerball International, Inc. The undersigned
Lessees acknowledge that they are not in any way relieved of the obligations
contained in said Lease, amendments and extensions whatsoever.
Dated: December 2, 1997 /s/ XXXX XXXXXXXXXX
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Xxxx Xxxxxxxxxx
/s/ XXXX XXXXXXXXXX
Dated: -----------------------------------
--------------------------- Xxxx Xxxxxxxxxx
ASSUMPTION OF LEASE
In consideration of the above Assignment and written consent of the Lessor
thereto, we hereby assume and agree to be bound by all the terms and conditions
of the said Lease, amendments and extensions therein agreed to be made and
performed and to pay the rental therein provided.
Dated: December 2, 1997 /s/ ROLLERBALL INTERNATIONAL, INC.
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Rollerball International, Inc.
CONSENT TO ASSIGNMENT
The undersigned Lessor hereby consents to the above Assignment of Lease. Lessee
has deposited $2,500.00 with the Lessor as security deposit. Lessor has been
induced by Assignee and Assignor to consent to this Assignment of Lease, and
does not relieve Assigning Lessee of any obligations agreed to under the Lease,
amendment and extensions.
Dated: December 5, 1997 /s/ XXXXXXX X. XXXXXX
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Xxxxxxx X. Xxxxxx
Xxxxxx Properties
