California-Vernon-5353/5499/5477/5401 Downey Road Lease [Amendment No. 1] - 5353 Downey Associates Ltd. and J&J Snack Foods Corp.
AMENDMENT NO. 1
TO STANDARD INDUSTRIAL LEASE - NET DATED AUGUST 29, 1995
("LEASE")
by and between
5353 DOWNEY ASSOCIATES LTD., a California limited partnership
(hereinafter referred to as "Lessor") and J & J SNACK FOODS
CORP. and J & J SNACK FOODS CORP. OF CALIFORNIA (hereinafter
collectively, referred to as "Lessee")
For good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, Lessor and Lessee
agree to amend the Lease as follows:
1. Paragraph 2 of the Lease is deleted in its entirety and is
replaced with the following:
"2. Premises. Lessor hereby leases to Lessee and Lessee
leases from Lessor for the term, at the rental, and upon all of
the conditions set forth herein, that certain real property
situated in the County of Los Angeles, State of California,
commonly known as 5353 (Unit A), 5499 (Unit B), 5477 (Unit C) and
5401 (Unit E) Downey Road, Vernon, California, as more
particularly described on Exhibit "A" attached hereto and made
a part hereof:
"(a) The portion of the Premises at 5353 Downey Road is
composed of a portion of a larger parcel (s) of land improved
with a building (s) in which the demised space shown as Unit
"A", Unit "B", Unit "C" and Unit "E" on Exhibit "A"
contains approximately 182,832 square feet of ground floor area.
"(b) The remaining land area of the larger parcels of which
the Premises is composed not presently utilized for permanent
improvements is hereby designated as "common areas" and is
cross-hatched on Exhibit "A" attached hereto. Lessee is
granted the non-exclusive right to use the common areas, in
common with other tenants of the buildings located on the parcels
of land on which the buildings are located.
"Said real property including the land and all improvements
therein, is herein called the "Premises"."
2. Paragraph 3 of the Lease is deleted in its entirety and is
replaced with the following:
"3. Term. The term of this Lease shall be for twenty-
two (22) years commencing on December 1, 1995 and terminating on
November 30, 2017."
3. Paragraph 4 of the Lease is deleted in its entirety and is
replaced with the following:
"4. Rent. Commencing December 1, 1995 and
continuing throughout the remainder of the lease term, Lessee
shall pay to Lessor rent for the Premises, monthly payments as
set forth below, in advance, without deduction or offset, on the
first day of each month of the term hereof:
Lease Period Sq Ft Rent Per Total Rent Total Rent
S.F./Mo. PerMonth Per Year
12/1/95 - 11/30/96 136,564 0.2650 36,190 434,280
12/1/96 - 11/30/97 136,564 0.2700 36,872 442,464
12/1/97 - 11/30/98 136,564 0.2750 37,555 450,660
12/1/98 - 11/30/99 136,564 0.2800 38,238 458,856
12/1/99 - 11/30/00 136,564 0.2850 38,921 467,052
12/1/00 - 11/30/01 136,564 0.2900 39,604 475,248
12/1/01 - 9/30/02 136,564 0.2950 40,286 483,437
10/1/02 - 11/30/03 182,832 0.3051 55,782 669,385
12/1/03 - 11/30/04 182,832 0.3157 57,720 692,641
12/1/04 - 11/30/05 182,832 0.3213 58,744 704,927
12/1/05 - 11/30/06 182,832 0.3263 59,658 715,897
12/1/06 - 11/30/07 182,832 0.3325 60,792 729,500
12/1/07 - 11/30/08 182,832 0.3357 61,377 736,520
12/1/08 - 11/30/09 182,832 0.3400 62,163 745,955
12/1/09 - 11/30/10 182,832 0.3450 63,077 756,924
12/1/10 - 11/30/11 182,832 0.3500 63,991 767,894
12/1/11 - 11/30/12 182,832 0.3550 64,905 778,864
12/1/12 - 11/30/13 182,832 0.3600 65,820 789,834
12/1/13 - 11/30/14 182,832 0.3650 66,734 800,804
12/1/14 - 11/30/15 182,832 0.3700 67,648 811,774
12/1/15 - 11/30/16 182,832 0.3750 68,562 822,744
12/1/16 - 11/30/17 182,832 0.3800 69,476 833,714
"Rent for any period during the term hereof which is for
less than one month shall be a pro rata portion of the monthly
installment. Rent shall be payable in lawful money of the United
States to Lessor at the address stated herein or to such other
persons or at such other places as Lessor may designate in
writing."
4. In Paragraph 7.1 (b), the last sentence is amended and
modified to read as follows:
"Lessor and Lessee have agreed that Lessee's proportionate
share is 84.152 percent."
5. The Site Plan attached to this First Amendment as Exhibit
"A" supersedes and replaces the Site Plan attached to the Lease
as Exhibit "A".
6. Notwithstanding Paragraph 6.3(a) of the Lease to the
contrary, Lessee accepts Unit E (5401 Downey Road), in
its As-Is condition, and Lessor has no obligation to
improve, repair or maintain Unit E, and Lessor makes no
representations or warranties, either express or implied, as
to the condition of Unit E, or its suitability for Lessee's
intended use.
7. Except as modified by this First Amendment, all other terms
and conditions of the Lease shall remain in full force and
effect.
8. The parties acknowledge and agree that this First Amendment
shall be void and of no further force and effect should the
existing Tenant in Unit E, Duo Industries, affirm or its existing
Lease with the Bankruptcy Court in connection with Duo Industries
bankruptcy. This is a condition subsequent to the effectiveness
of this First Amendment.
The parties have executed this First Amendment at the place
on the dates specified immediately adjacent to their respective
signatures.
LESSOR:
5353 DOWNEY ASSOCIATES LTD., a
Executed at Beverly Hills, CA California limited Partnership
on September ______, 2002
Address: 9595 Wilshire Blvd. By:
Suite 511 Michael L. Schwab,
Beverly Hills, CA 90212 General Partner
SIGNATURES CONTINUED ON THE NEXT PAGE
LESSEE:
Executed at J & J SNACK FOODS CORP. OF
CALIFORNIA
on September ________, 2002
Address: _________________________ By:
_________________________ ____________________
(Type Name)
_________________________ Its:
(Title)
By:
____________________
(Type Name)
Its:
(Title)
[Corporate Seal]
Executed at J & J SNACK FOODS CORP. OF
CALIFORNIA
on September _______, 2002
Address: __________________________ By:
__________________________ ____________________
(Type Name)
__________________________ Its:
(Title)
By:
____________________
(Type Name)
Its:
(Title)
[Corporate Seal]