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Florida-Palm Beach Gardens-The Wackenhut Center Lease [Amendment No. 2] - PGA Professional Center Ltd. and The Wackenhut Corp.

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  • Commercial Lease. Start a state-specific lease for the rental of commercial property. Specify the term and rent due, as well as whether the landlord or tenant is responsible for property taxes, insurance, and maintenance and repairs.
  • Commercial Sublease. When a tenant vacates commercial property before the lease term has expired, it may be able to rent the premises to a third party. The tenant would be the sublessor and the third party would be the sublessee. Besides preparing a sublease, both parties will want to review the provisions for assignment or subletting in the original lease agreement between the landlord and the sublessor.
  • Sublease Agreement. Tenants of residential property should prepare a sublease agreement if they are seeking to sublease a room or the entire apartment or house to a third party. All parties should review the original lease agreement to see if there are any restrictions on subletting or assigning the premises.
  • Triple Net Lease. Triple net leases are a type of commercial leases where the tenant has to pay for property taxes, insurance, utilities, and maintenance, in addition to the monthly rent.
  • Office Space Lease. When renting an office space, tenants should understand the amount of the rent and duration of the lease. Other important terms include whether the space can be subleased, which parties are responsible for maintenance, and whether any furniture and furnishings will be provided.

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                        SECOND AMENDMENT TO OFFICE LEASE

         This Second Amendment is entered into this 1 day of August 1996, by
CORPORATION ( "Tenant").


         A. Landlord and Tenant have entered into that certain office Lease
dated April 18, 1995, (the "Lease") and that certain First Amendment to Lease
dated November 3, 1995 ("First Addendum").

         B. Pursuant to paragraph 1.B. of the Lease, Landlord and Tenant agreed
to execute a revision to the Lease upon completion of the Demised Premises
setting forth the actual square footage of the Demised Premises, the actual
Rent to be paid and the amount of the actual Tenant Improvement Allowance.

         NOW THEREFORE, in consideration of the sum of Ten and 00/100 ($10.00)
Dollars and other good and valuable consideration, the receipt and sufficiency
of which is acknowledged, the parties agree as follows:

          1.   The Referenced Data attached to the Lease is modified as

               A.   The Demised Premises are made up of 93,259 square feet
                    (1,500 square feet of which Tenant is not obligated to pay
                    Rent on).

               B.   The Annual Rental to be paid under the Lease is

               C.   Tenant's proportionate share shall be 97.03%.

         2. Paragraph 1.B. is modified to provide that the Demised Premises
shall contain the 93,259 consisting of all of the second through fourth floors
and a portion of the first floor of the Building. The area of the remaining
space in the Building is 2,859 square feet. Accordingly, there shall be no
sharing of the Rent for the lobby of the Building.

         3. Paragraph 2.A. of the Lease is modified to provide that the Rental
Commencement Date is February 15, 1996.

         4. Paragraph 4.A. of the Lease is modified to provide that the minimum
Rent for the Demised Premises shall be $1,789,300.50. The monthly installments
of Rent shall be in the amount of $149,108.37 plus Sales Tax.

         5. Exhibit "B" of the Lease is modified and replaced with Exhibit "B"
attached hereto.

         6. The actual Tenant Improvement Allowance is $3,264,782.37.

         7. Except as modified hereby, the Lease remains in full force and
effect and unmodified.

WITNESSES:                         LANDLORD:
                                   PGA PROFESSIONAL CENTER, LTD
                                   BY: PGA PROFESSIONAL CENTER, INC.
                                       its general partner



                                   Daniel S. Catalfumo, President

<PAGE>   2

                                   THE WACKENHUT CORPORATION



                                   Robert C. Kneip
                                   Senior Vice-President