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EXHIBIT 10(b)
ADDENDUM TO LEASE
This is an Addendum entered into this 7 day of October, 1996, to a
certain Lease between X.X. Xxxx, Trustee under Agreement dated April 1, 1965
("Landlord"), and Randers Engineering, Inc., a Michigan corporation ("Tenant"),
dated August 12, 1996 (the "Lease").
This Addendum is entered into in accordance with the "Additional Rent"
provisions of Schedule 8 of the lease, reference to which is hereby made.
1. Paragraph 1.1.c. of Article One of the Lease is hereby amended to read
as follows:
"TENANT'S SQUARE FOOTAGE shall mean 5,263 usable square feet subject
of final measurement. The term "usable" shall be synonymous with
"rentable" in this document.
2. Final costs of Leasehold Improvements (as defined in paragraph 1.05 of
Schedule 6 of the Lease) have been determined to be $23.23 per square
foot, or $7.98 in excess of the Base Tenant Improvements as defined in
paragraph 1.01 of Schedule 6 of the Lease. Therefore, in accordance
with the Additional Rent provisions of Schedule 8 of the Lease, the
schedule of rental payments as set forth in Schedule 8 is hereby
amended to read as follows:
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SCHEDULE 8
SCHEDULE OF RENTAL PAYMENTS
BASE RENT SCHEDULE
Additional Revised
Original Tenant Rental
Rental Improvement Rate Per Annual Monthly
Year Rate Amortization Sq. Ft. Rent Rent
---- --------- ------------ -------- ------------- -----------
1 $18.00 $2.03 $20.03 $105,417.89 $8,784.82
2 18.36 2.03 20.39 107,312.57 8,942.71
3 18.91 2.03 20.94 110,207.22 9,183.94
4 19.67 2.03 21.70 114,207.10 9,517.26
5 20.45 2.03 22.48 118,312.24 9,859.35
3. The remaining terms and conditions of the Lease shall remain unaltered
except as otherwise set forth above.
This Addendum is executed as of the date first written above.
WITNESS: LANDLORD:
__________________________________ XXXXXXX X. XXXX, TRUSTEE UNDER
AGREEMENT DATED APRIL 1, 1965
__________________________________ BY____________________________
Trustee Signatory
WITNESS: TENANT:
__________________________________ RANDERS ENGINEERING, INC.
__________________________________ BY____________________________
ITS___________________________
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ACKNOWLEDGEMENTS
STATE OF OHIO :
ss.
COUNTY OF XXXXX:
The signing of the above Addendum to Lease was acknowedged before me this
_____ day of ________________, 1996, by Xxxxxxx X. Xxxx, Trustee under
Agreement dated April 1, 1965.
____________________________
Notary Public
STATE OF MICHIGAN :
ss.
COUNTY OF _________ :
The signing of the above Addendum to Lease was acknowledged before me this
______ day of _________________, 1996, by Xxxxxx X. Xxxxxx, as President of
Randers Engineering, Inc., a Michigan corporation.
____________________________
Notary Public
This Instrument Prepared by:
Xxxxxx X. Xxxxxxx
Martin, Browne, Hull & Xxxxxx
One South Limestone Street, 8th Floor
X.X. Xxx 0000
Xxxxxxxxxxx, Xxxx 00000
Telephone (000) 000-0000
Telecopier (000) 000-0000
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