1
EXHIBIT 10.9
FIRST AMENDMENT TO LEASE AGREEMENT
Between
XXXXXX XXXXXXXX COMPANY, a Nevada Corporation,
LANDLORD
And
MOTOR CARGO, INN, a Utah Corporation,
TENANT
March 1, 1990
2
THIS FIRST AMENDMENT TO LEASE, made and entered into the 1st day of
March, 1990, by and between XXXXXX XXXXXXXX COMPANY, a Nevada corporation
("Landlord"), and MOTOR CARGO, INC., a Utah corporation ("Tenant").
W I T N E S S E T H:
WHEREAS, effective January 1, ,989, the Landlord and Tenant entered
into a Lease Agreement; and
WHEREAS, effective August 1, 1989, Landlord and Viking Freight System,
Inc. ("Viking") entered into a Lease Agreement (the "Viking Lease"); and
WHEREAS, Viking desires to terminate the Viking Lease, and Tenant
desires to lease a portion of the premises leased by Viking; and I
WHEREAS, the Landlord and Tenant desire to amend the Lease Agreement,
as is hereinafter Set forth.
NOW, THEREFORE, in consideration of the foregoing, and the mutual
covenants and conditions herein contained, Landlord and Tenant hereby agree as
follows:
A. Article I of the Net Lease Agreement, as amended, is hereby amended
to read as follows:
"ARTICLE I
PREMISES, USE AND ORIGINAL TERM OF LEASE
SECTION 1.1 The Landlord hereby demises and leases to the
Tenant, and the Tenant hereby
3
hires and leases from the Landlord, for the term and upon the
conditions and provisions hereinafter set forth, in an as is
condition all that certain real property together with the
existing improvements hereon (the "Premises") situated in the
City of Reno, County of Washoe, State of Nevada, more
particularly described on Exhibit "A-1" attached hereto and
made a part hereof.
SECTION 1.2 Section 1.2 is not changed.
SECTION 1.3 The original term of this Lease shall commence at
12:01 a.m. on the first day of January, 1989 (the
"Commencement Date") and shall end at 11:59 p.m. on December
31, 1999."
B. Article II of the Lease Agreement, as amended, is hereby
amended to read as follows:
"SECTION 2.1 Section 2.1 is not changed.
SECTION 2.2 Subject to the provisions of Section 2.3, the
annual basic rent for each year, effective on the date of this
Amendment through December 31, 1999, shall be $124,717.92.
4
SECTION 2.3 The annual basic rent shall be increased, but not
decreased, at the beginning of the second, fourth, and seventh
Lease Years based on the Consumer Price Index. The index to be
used shall be the Consumer Price Index for All Urban Wage
Earners and Clerical Workers for the City of San Francisco,
California, All Items, published by the Bureau of Labor
Statistics of the United States Department of labor using the
period 1982-1984 = 100 as the base period (the "Consumer Price
Index"). The increase shall be computed by dividing the annual
basic rent in effect on the date of this Amendment ($124,
717.92), by the index number for the month of October, 1988,
which is 121.3 and then multiplying the quotient so obtained
by the index number for the month of October preceding the
initial month of the Lease Year for which the increase is
being calculated.
SECTION 2.4 Section 2.4 is not changed.
SECTION 2.5 Section 2.5 is not changed.
SECTION 2.6 Section 2.6 is not changed.
5
SECTION 2.7 Section 2.7 is not changed.
SECTION 2.8 Section 2.8 is not changed.
SECTION 2.9 Section 2.9 is not changed.
C. This First Amendment to Lease Agreement may be executed in any
number of counterparts with the same effect as if the signatures hereto and
thereto were on the same instrument.
D. Except as specifically modified herein by Lease Agreement dated
January 1,1989, shall remain in full force and effect and the parties shall be
bound by all of the terms and conditions hereof.
IN WITNESS WHEREOF, the Landlord and the Tenant have executed this
First Amendment to Lease Agreement the day and year above written.
XXXXXX XXXXXXXX COMPANY
By:_________________________________
Its:________________________________
Landlord
MOTOR CARGO, INC.
By:_________________________________
Its:________________________________
Tenant