Exhibit 10.58
FIRST AMENDMENT OF LEASE
This First Amendment of Lease is made as of this 30th day of January,
1996, by and between Xxxxxx X. Xxxxxx, of Easton, Connecticut (hereinafter
referred to as "Landlord"), and Information Management Associates, Inc., a
Connecticut corporation (hereinafter referred to as "Tenant").
In consideration of the mutual benefits and obligations set forth
herein, the parties hereby amend a certain lease between them dated October 6,
1993, for the lease of space in Landlord's building at Xxx Xxxxxxxxx Xxxxx,
Xxxxxxx, Xxxxxxxxxxx (the October 6, 1993 lease and all amendments thereto
hereinafter referred to collectively as the "Lease"), in the following manner:
A. Paragraph 1.01 of the Lease is deleted and is replaced
with the following:
"1.01 The Leased Premises is located on the fourth floor in
Landlord's building at Xxx Xxxxxxxxx Xxxxx, Xxxxxxx, Xxxxxxxxxxx (the
"Building"). The square footage constituting Tenant's Net Rentable
Area and the space constituting the Leased Premises vary over the Term
of the Lease. The square footage of Tenant's Net Rentable Area and the
description of the space constituting the Leased Premises during the
various periods during the Term of the Lease are set forth in the
following table:
Period Tenant's Net Locations Of Space Comprising
Rentable Area Leased Premises
4/1/94 to First 18,137 The space shown on Exhibit A as the
First Expansion "Original Space"
Commencement Date
First Expansion 25,147 The Original Space and the space
Commencement Date shown on Exhibit A as the "First
to the End of Expansion Space"
the Term
B. Paragraph 1.02 of the Lease is deleted, as the information
previously contained in it is now included as a part of paragraph 1.01."
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C. Paragraph 1.03 of the Lease is deleted and replaced with the
following:
"1.03 The Initial Term of the Lease is from April 1, 1994 to the
end of the day on March 31, 2004."
D. Paragraph 1.04 of the Lease is deleted and is replaced with the
following:
"1.04 The "Commencement Date" is April 1, 1994. The "First
Expansion Commencement Date" is the date upon which possession of the
First Expansion Space is delivered to Tenant."
E. Paragraph 1.05 of the Lease is deleted and is replaced with the
following:
"1.05 The Basic Minimum Annual Rent for the Initial Term is:
Period Basic Minimum Annual Monthly Installments
Rent
4/1/94 to 9/30/95 $ 00.00 $00.00
10/1/95 to 3/31/96 $145,095.96 $12,091.33
4/1/96 to 3/31/99 $181,370.04 $15,114.17
4/1/99 to the end of $311,956.44 $25,996.37
the Initial Term
Beginning on the First Expansion Commencement Date, the Basic Minimum
Annual Rent indicated in the above table shall be increased, as
follows:
[i] for the period from the First Expansion Commencement Date to March
31, 1999 - by $94,635 per annum ($7,886.25 per month); and
[ii] for the period from April 1, 1999 to the end of the Initial Term
- by $94,635 per annum multiplied by the "CPI Factor".
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The "CPI Factor" is the fraction whose numerator is the CPI for
January 1999 and whose denominator is the CPI for January 1996, which
fraction shall be deemed to in no event be less than 1. The "CPI" is
defined in paragraph 4.03. The Basic Minimum Annual Rent shall be paid
in monthly installments."
F. Article XXI (Tenant's Right To Terminate) is deleted and a new
Article XXI is substituted in its place, as follows:
"ARTICLE XXI
Delivery of First Expansion Space
21.01 Article XIX governs Landlord's obligations with respect to
the fit-out of the original Leased Premises, which have been
completed, to Tenant's satisfaction.
21.02 It is acknowledged that as of the date of the First Amendment
of Lease, the First Expansion Space is occupied by another tenant,
who intends to vacate the same pursuant to an agreement with Landlord
which Landlord is negotiating contemporaneously with this First
Amendment of Lease. If, as of the date of this First Amendment of
Lease said other tenant has not already vacated the First Expansion
Space, Landlord shall use Landlord's best efforts to obtain possession
of the same as soon as possible. As soon as Landlord has obtained
possession of the First Expansion Space from said other tenant,
Landlord shall promptly thereafter provide possession of the same to
Tenant, in as-is condition, broom clean and free of all personal
property not belonging to Tenant."
G. Exhibit A of the Lease is deleted and is replaced with the Exhibit
A attached to this First Amendment of Lease.
In the event of any conflict between this First Amendment of Lease and
the October 6, 1993 lease, this First Amendment of Lease shall control, the
Lease being, and
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is to remain, in full force and effect in all other respects.
IN WITNESS WHEREOF, the parties have hereunto set their hands and
seals as of the day and year first above written.
Information Management Associates, Inc.
by /s/ Xxxx X. Xxxxxxx
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its duly authorized
CHAIRMAN CFO
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/s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx
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State of Connecticut
ss City/Town of Shelton
County of New Haven
Personally appeared Xxxx X. Xxxxxxx, signer and sealer of the
foregoing instrument and the duly authorized Chairman/CFO of Information
Management Associates, Inc., who acknowledged the same to be his free act and
deed and the duly authorized free act and deed of Information Management
Associates, Inc., before me, this 10th day of January, 1996.
/s/ Xxxxxxx X. Xxxxx
---------------------------------
Notary Public
[NOTARIAL STAMP APPEARS HERE]
State of Connecticut
ss City/Town of Shelton
County of Fairfield
Personally appeared Xxxxxx X. Xxxxxx, signer and sealer of the
foregoing instrument, who acknowledged the same to be his free act and deed,
this 30th day of January, 1996.
/s/ Xxxxxxx X. Xxxxxx
---------------------------------
Notary Public
[NOTARIAL STAMP APPEARS HERE]
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