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EXHIBIT 10.29
APRIL 1996 AMENDMENT TO
COMMERCE LEASE
This Amendment is dated April 23, 1996 and effective as of March 1, 1996 by
and between Xxxxxx'x Grand Ice Cream, Inc. ("Tenant") and Smithway Associates,
Inc. ("Landlord").
RECITALS
A. On or about January 1, 1982, Tenant entered into a lease agreement with Xxxx
and Xxxxxx Xxxxxxx, predecessors of Landlord, with respect to certain improved
real property located at 0000 Xxxx Xxxxxxxx Xxxxxx, Xxxxxxxx Xxxxxxxxxx (the
"Original Lease"). The Original Lease was subsequently amended several times. By
that certain Assignment of Lease dated March 31, 1989, Xxxxxx, Xxxxxxx Co.
("Xxxxxx") assigned and transferred, and Tenant assumed, all the provisions of
that certain Agreement and Lease dated August 1, 1986 between Xxxxxx and Xxxxxx
Xxxxxxx, as Trustee of the Xxxxxx Xxxxxxx Revocable Trust, dba TJ Investments
(the "Xxxxxx Lease"). Tenant and Landlord subsequently amended the Xxxxxx Lease
to, among other things, make it coterminous with the Original Lease. Landlord
and Tenant have also entered into certain other amendments, the most recent
being dated December 1, 1995, prior to this Amendment. The Xxxxxx Lease, as
amended to date, and the Original Lease, as amended to date, taken together
shall be referred to herein as the "Commerce Lease".
B. Tenant now desires to lease additional space from Landlord for a term of one
(1) year and Landlord desires to lease such space to Tenant for such term.
Now, therefore, the parties agree as follows:
1. Rental of Additional Space. Landlord hereby leases to Tenant, and
Tenant hereby leases from Landlord, as additional demised premises under the
Commerce Lease (except with regard to the term of the lease of such additional
demised premises), those areas identified below and which are more particularly
described in the attached Exhibit A (the "Dock Offices"), which shall be leased
subject to the following rental obligation:
MONTHLY
AREA SQ. FT. RATE RENTAL
------------- ------- ---- -------
Dock Offices 960 .25 $250
The parties agree that the monthly rental set out above is a negotiated
rate and in the event of any variation in the square footage of the Dock
Offices, if measured, there shall be no adjustment in the monthly rental.
2. Rental Commencement Date for Dock Offices. The obligation to pay rental
on the Dock Offices shall commence on March 1, 1996, resulting in an aggregate
monthly rental due under the Commerce Lease of fifty-nine thousand two hundred
fifty dollars ($59,250) through February, 1997.
3. Term of Lease of Dock Offices. The term of the lease of the Dock
Offices shall commence effective as of March 1, 1996 and shall continue until
February 28, 1997.
4. Common Area Maintenance Expenses. Tenant shall pay common area
maintenance expenses ("CAM") related to the Dock Offices in accordance with the
formula provided in the amendment letter dated as of August 4, 1995 between
Landlord and Tenant, which document amended the Commerce Lease.
5. Effect of Amendment. The existing terms and conditions of the Commerce
Lease shall remain in full force and effect except as such terms and conditions
are modified and amended as expressly set out in this Amendment.
6. Full Understanding. This Amendment contains the full understanding of
the parties with respect to the subject matter hereof.
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their duly authorized representative as of the date and year first
above written.
LANDLORD: TENANT:
Smithway Associates, Inc. Xxxxxx'x Grand Ice Cream, Inc.
By: By:
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Title: President
------------------------------------ Title: Treasurer
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