Exhibit 10.1(e)
NINTH AMENDMENT TO LEASE AGREEMENT
THIS NINTH AMENDMENT TO LEASE AGREEMENT (hereinafter referred to as the
"Ninth Amendment") is made as of the 18th day of August 1997, by and between
WEEKS REALTY, L.P. (hereinafter referred to as "Landlord") and CHECKMATE
ELECTRONICS, INC. (hereinafter referred to as "Tenant").
WITNESSETH:
WHEREAS, ASC North Xxxxxx Associates Joint Venture and Tenant entered into
that certain Lease Agreement dated July 17, 1990, as amended by that certain
First Amendment to Lease dated December 20, 1990, as amended by that certain
Second Amendment to Lease dated October 15, 1992, as amended by that certain
Third Amendment to Lease April 30, 1993, as amended by that certain Fourth
Amendment to Lease July 15, 1993, as amended by that certain Fifth Amendment to
Lease dated August 16, 1994, as amended by that certain Sixth Amendment to Lease
dated February 20, 1995, as amended by that certain Seventh Amendment to Lease
dated January 18, 1996, and as further amended by that certain Eighth Amendment
to Lease dated April 1, 1996 (hereinafter collectively referred to as the
"Agreement") for the lease of 49,168 square feet of office/warehouse space at
1003, 1009, and 0000 Xxxxxxx Xxxx, Xxxxxxx, Xxxxxxx which is more particularly
described in the Agreement and certain easements, rights and privileges
appurtenant thereto (hereinafter referred to as the "Leased Premises"); and
WHEREAS, Weeks Realty, L.P. succeeded to the interest of the landlord under
the Agreement and is the Landlord with respect to the Leased Premises; and
WHEREAS, the Agreement will expire by its terms on September 30, 1997 and
Tenant desires to enter into this Ninth Amendment in order to exercise its
option to renew the term of the Agreement;
NOW, THEREFORE, for and in consideration of Ten Dollars ($10.00) paid by
Landlord and Tenant to one another, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged by
Landlord and Tenant, Landlord and Tenant amend the Agreement as follows:
1. The Agreement is hereby extended for an additional two (2) year term
effective October 1, 1997 and continuing until midnight on September 30, 1999 on
all of the same terms, covenants and conditions as the original Agreement with
the same base year except that the base rental shall be as set forth below:
0000 Xxxxxxx Xxxx, Xxxxx X-0 (4,200 Square Feet):
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October 1, 1997 - September 30, 1999 $2,782.50/month $33,390.00/year
0000 Xxxxxxx Xxxx, Xxxxx X-X (4,430 Square Feet):
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October 1, 1997 - September 30, 1999 $2,934.88/month $35,218.50/year
0000 Xxxxxxx Xxxx, Xxxxx X (11,200 Square Feet):
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October 1, 1997 - September 30, 1999 $7,420.00/month $89,040.00/year
0000 Xxxxxxx Xxxx, Xxxxx X (2,350 Square Feet):
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October 1, 1997 - September 30, 1999 $1,556.88/month $18,682.50/year
0000 Xxxxxxx Xxxx, Xxxxx X, X, X (11,466 Square Feet):
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October 1, 1997 - September 30, 1999 $7,596.23/month $91,154.70/year
0000 Xxxxxxx Xxxx, Xxxxx X (15,522 Square Feet):
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October 1, 1997 - September 30, 1999 $10,283.33/month $123,399.90/year
Such base rental shall be due on or before the first day of each calendar
month during the term together with any other additional rent as set forth in
the Agreement.
2. Tenant shall have the option to renew this Lease Agreement for one (1)
year term provided that Tenant gives written notice to Landlord of its intention
to renew at least one hundred eighty (180) days prior to the end of the then
current term thereof. Renewal shall be upon the same terms and conditions as
contained herein except that the annual base rental shall be the fair market
rental value (but in no event less than the current rental rate under the Lease)
which shall be determined as follows:
(a) Landlord and Tenant will have fifteen (15) days after Landlord
receives the renewal notice within which to agree on the then-fair market
rental value of the Leased Premises as defined in paragraph (c) below for
the renewal period. If they agree on the base monthly rent for the renewal
period within fifteen (15) days, they will amend this Lease by stating the
base monthly rental for the renewal period.
(b) If they are unable to agree on the base monthly rental for the renewal
period within fifteen (15) days, then the base monthly rental for the
renewal period will be the then-fair market rental value of the Leased
Premises as determined in accordance with paragraph (d) below.
(c) The "then-fair market rental value of the Leased Premises" means what
a Landlord under no compulsion to lease the Leased Premises and a Tenant
under no compulsion to lease the Leased Premises would determine as rents
for the renewal period, as of the commencement of the renewal period,
taking into consideration the uses permitted under this Lease, the quality,
size, design, and location of the Leased Premises, and the rent for
comparable buildings located in the vicinity of the Leased Premises. The
then-fair market rental value of the Leased Premises for the renewal period
will not be less than that provided during the initial term.
(d) Within seven (7) days after the expiration of the fifteen (15) day
period set forth in paragraph (b) above, Landlord and Tenant will each
appoint a real estate appraiser to appraise the then-fair market rental
value of the Leased Premises. The two appraisers will meet promptly and
attempt to set the then-fair market rental value of the Leased Premises.
If they are unable to agree within thirty (30) days, they will select a
third appraiser within ten (10) days to set the then fair market rental
value of the Leased Premises. Landlord and Tenant will bear one-half (1/2)
of the cost of appointing the third appraiser and of paying the third
appraiser's fee.
(e) Within thirty (30) days after the selection of the third appraiser, a
majority of the appraisers will set the then-fair market rental value of
the Leased Premises. If a majority of the appraisers are unable to set the
then-fair market rental value of the Leased Premises within thirty (30)
days after selection of the third appraiser, the three appraisals will be
averaged and the average will be the then-fair market rental value of the
Leased Premises.
(f) It is expressly understood that Tenant shall have no option to renew
this Lease for the renewal term if at the time of the attempted exercise of
such option or at the commencement of such renewal term this Lease is not
then in full force and effect or if Tenant is then in default of any terms
and conditions of this Lease.
3. Except as expressly modified by this Ninth Amendment, all provisions,
terms and conditions of the Agreement shall remain in full force and effect.
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4. In the event a provision of this Ninth Amendment conflicts with a
provision of the Agreement, the Ninth Amendment shall supersede and control.
5. All terms and phrases used herein shall have the same meaning as
assigned to them in the Agreement.
6. This Ninth Amendment shall not be of any legal effect or consequence
unless signed by Landlord and Tenant, and once signed by Landlord and Tenant it
shall be binding upon and inure to the benefit of Landlord, Tenant, and their
respective legal representatives, successors and assigns.
7. This Ninth Amendment has been executed and shall be construed under the
laws of the State of Georgia.
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IN WITNESS WHEREOF, the undersigned have caused this Ninth Amendment to be
executed under seal and delivered as of the day and year first above written.
LANDLORD:
Signed, sealed and delivered
in the presence of: WEEKS REALTY, L.P.,
a Georgia limited partnership
/s/ Xxxxx X. Kinneiry
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Witness By: Weeks GP Holdings, Inc.
a Georgia corporation,
/s/ Xxxxxxxx X. Xxxxx its sole general partner
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Notary Public
By: /s/ A. R. Weeks, Jr.
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Name: A. R. Weeks, Jr.
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Its: Chairman / CEO
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TENANT:
Signed, sealed and delivered CHECKMATE ELECTRONICS, INC.
in the presence of:
/s/ Xxxxx Xxxx By: /s/ Xxxx X. Xxxxxxx
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Witness Name: Xxxx X. Xxxxxxx
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Its: COO / CFO / Senior Vice President
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/s/ Xxxxxx X. Xxxxxxx
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Notary Public
ATTEST:
By: /s/ Xxxxxxxx Xxxxxxx
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Name: Xxxxxxxx Xxxxxxx
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Its: Corporate Secretary
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(Corporate Seal)
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