FIRST AMENDMENT TO LEASE AGREEMENT
THIS AMENDMENT (the "First Amendment") is made effective the 31st day
of March, 2003 (the "Effective Date") by and between HSO Corporate Drive Limited
Partnership (herein referred to as "Lessor") and Enerteck Chemical Corp. (herein
referred to as "Lessee") on the following terms and conditions;
WITNESSETH:
WHEREAS, Lessor, as Lessor therein, and Lessee as Lessee therein,
entered into that certain Lease Agreement (the "Lease") and all subsequent
amendment containing approximately 557 square feet of NRA in Suite 293 (the
"Leased Premises") in that certain office building known as The Atrium Building
(the "Building") located at 00000 Xxxxxxxxx Xx., Xxxxxxxx, Xxxxx 00000; and
WHEREAS, Lessor and Lessee desire to amend, modify and supplement the
Lease to relocate Tenant and expand into the Premises known as suites 150 and
152 located on the First (1st) floor of the building consisting of a total of
approximately 2,692 square feet (the "Premises"), which will be designated as
Suite 150. Lessee is presently in Premises known as Suite 293 and desires to
vacate the Premises for approximately 557 square feet of net rentable area, as
stated in the original Lease dated the 1st day of February, 2001, and will
relocate and take possession of Suite 150 on the 1st day of April, 2003 and
ending March 31, 2006;
NOW, THEREFORE, for and in consideration of the sum of TEN DOLLARS and
NO/100 ($10.00) and other valuable consideration respectively paid by each party
to the other the receipt and sufficiency of which is hereby acknowledged, Lessor
and Lessee do hereby supplement and amend the Lease as follows:
1. All of the recital clauses hereinabove set forth are hereby
incorporated by reference as though set forth verbatim and at length
herein.
2. Section 2. TERM shall be amended as follows:
Subject to and upon the conditions as set forth herein, or any addenda
or exhibits hereto this First Amendment to Lease Agreement shall amend
the term to continue in force for Thirty Six (36) months, commencing on
the 1st day of April and ending on the 31st day of March, 2006.
3. Section 3. BASE RENTAL: Of the Lease Agreement, is hereby revised:
BASE RENT SCHEDULE:
Rentable Square Footage (RSF): 2,682 SF - Commencement Date:
March 31, 2003
ANNUAL BASE MONTHLY BASE ANNUAL BASE RENTAL
MONTHS TIME PERIOD RENTAL RATE RENTAL AMOUNT AMOUNT
------ ------------ ----------- ------------- ------
Twelve (12) Mos. 4/1/03- 3/31/04 $ 16.50 $ 3,687.75 $ 44,253.00
Twelve (12) Mos. 4/1/04- 3/31/05 $ 17.00 $ 3,799.50 $ 45,594.00
Twelve (12) Mos. 4/1/05- 3/31/06 $ 17.50 $ 3,911.25 $ 46,935.00
Total of Base Rental Payments Under Lease Agreement $ 136,782.00
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4. EFFECT: This First Amendment shall be binding on the parties hereto,
their heirs, successors, guarantors, administrators and assigns.
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Lessee Initials _____
5. EXHIBIT "C"-TENANT IMPROVEMENT ALLOWANCE: Landlord shall tender and
Tenant shall accept possession of the Premises in an "AS-IS CONDITION
without any warranty expressed, implied, or statutory (including
implied warranties of habitability, suitability, condition, and fitness
for a particular purpose) Landlord to provide a Five Dollar ($5.00) per
net rentable square foot Tenant Improvement Allowance. All cost over
and above the ($5.00) Tenant Improvement Allowance will be at the sole
cost to tenant. Tenant and architects plans and specifications are as
follows:
SCOPE OF WORK:
1) Install new walls as shown on plans and specifications.
2) Paint all existing and tape, float and paint new walls with Building
Standard paint.
3) Add and relocate doors per plans and specifications.
4) Install new glued down Building Standard Carpet throughout the
Premises.
5) Install Glass Block half wall in reception area.
6) Install Double Wooden Doors with glass inserts.
7) Electrical-regular duplex outlets will be furnished in new walls.
6. CONFIDENTIALITY: Tenant agrees to hold this First Amendment
confidential and not to reveal the terms and conditions of this First
Amendment to any other party without the prior written permission of
Landlord.
7. Lessor represents and warrants to Lessor that Lessor is in compliance
with all its duties and obligations under the Lease as of the date
hereof.
8. This Amendment shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns, accept and
amended hereby, the "Lease" will remain in full force and effect in
accordance with its original terms with the exception of the changes
noted in this First Amendment to Lease.
EXCEPT, as expressly hereby amended, the terms and conditions of the
Lease are ratified and Affirmed in all respects.
IN WITNESS THEREOF, the undersigned has caused this First Amendment to
Lease to be duly executed effective on this 31st day of March, 2003.
LESSOR: LESSEE:
HSO CORPORATE DRIVE LIMITED PARTNERSHIP ENERTECK CHEMICAL CORP.
BY ITS SOLE GENERAL PARTNER, HSO OFFICE HOLDINGS,
LLC
By: s/s By:s/s
----------------------------- ------------------------------
Name: Xxxxxxx X. X'Xxxxxxx Name: Xxxxxx Xxxxx
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Title: Manager Title: Chairman & COO
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EXHIBIT "B
FLOOR PLAN OF PREMISES
SUITE 150-2,682SF
ENERTECK CHEMICAL CORP.
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Lessee Initials _____
