EXHIBIT 10.18
AMENDMENT TO LEASE AGREEMENT
That certain Commercial Lease Agreement dated April 6, 1998 between JACKSON-SHAW
TECHNOLOGY CENTER II, LTD., (LANDLORD) and ADAMS GOLF, INC., (TENANT), for
approximately 32,996 square feet of office/flex space located at 2805 E. Plano
Parkway, Plano, Texas, is hereby amended as follows:
Whereas Adams Golf, Inc. is desirous of terminating its obligations on 12,031
square feet of the total 32,996 square feet under said Commercial Lease
Agreement.
LEASED PREMISES: The size of the Leased Premises as described in paragraph 3 of
that certain Commercial Lease Agreement shall be modified and amended as
follows:
1) In consideration of the rents, terms and covenants of the Commercial
Lease Agreement (this "Lease), Landlord hereby leases to Tenant certain
premises (the "Leased Premises") consisting of approximately 20,965
square feet within the 67,372 square foot building (the "Building")
located at 2805 E. Plano Parkway, Plano, Texas, together with the
non-exclusive right to use, in common with other tenants, the common
areas of the Project, which are all areas neither exclusively leased to
another tenant or expressly reserved to or by Landlord. The Land upon
which the building, landscaping, parking and driveway areas, sidewalks,
and other improvements thereon, shall be referred to in this Lease as
the "Project."
TERM: The term of this Lease referenced above and as described in paragraph 4(a)
and (d) shall be modified and amended as follows:
1) The term of this Lease shall be 50 months commencing on February 1,
2000, the "Commencement Date" and terminating on March 31, 2004,
the "Termination Date."
BASE RENT AND SECURITY DEPOSIT: Base Rent as described in Paragraph 5(a) of
the Lease Agreement shall be modified and amended as follows:
1) Tenant agrees to pay to Landlord the following rental amounts
(sometimes referred to in this lease as the "Base Rent" or "Base
Rental"): months 1 through 4 $146,760.00 per year payable in monthly
installments of $12,230.00 each; months 5 through 27, $154,476.00 per
year payable in monthly installments of $12,873.00 each; months 28
through 50, $167,736.00 per year payable in monthly installments of
$13,978.00 each. Payment of rent is subject to proration for partial
months and to adjustment for early or delayed occupancy under the terms
hereof, and, if the area of the Leased Premises is, on the Commencement
Date, different than the area stated in paragraph 3 of the Lease
Agreement, then Base Rent shall be adjusted to reflect the then current
rent. Upon the date Tenant executes the Lease Agreement the first
months Base Rent shall be payable. All subsequent payments shall be
made to Landlord monthly, in advance, without demand, deduction or
offset, in lawful money of the United States of America at the address
stated in the Lease Agreement. All installments of Base Rent shall be
due and payable on or before the first (1st) day of each month during
the Lease term. Notwithstanding anything contained herein to the
contrary, Tenant represents and warrants that the Premises and meet and
comply with all federal, state, and local laws, ordinances and
regulations (including but not limited to all accessibility
requirements) and are in good sanitary order, condition, and repair at
delivery of the premises to Landlord. Upon termination of this Lease
Agreement, Tenant shall perform, at no cost to Landlord, the following:
(a) separation of utilities, including HVAC and electrical service
(which electrical service shall be sub-metered at no cost to Landlord;
(b) removal of the server system presently located in the Premises; (c)
seal and paint current opening in the demising wall; and (d) obtain a
final approved building inspection of such work.
HAZARDOUS WASTE: Hazardous Waste as described in paragraph 38 of the Lease
Agreement shall be modified and amended as follows:
Tenant warrants, represents, covenants and agrees (1) to the best of
Tenant's knowledge, Tenant has not used, generated, manufactured,
produced, stored, released, discharged or disposed of on, under, about
the Premises (or off site of the Premises that might affect the
Premises) or transferred to or from the Premises, any Hazardous
Substance or allowed any other person or entity to do so. Tenant has
no knowledge or reason to know that any Hazardous Substance has been
used, generated, manufactured, produced, stored, released, discharged
or disposed of on, under or about the Premises or the Development (or
off site of the Development that might affect the Premises) or
transported to or from the premises or the Development (or off site of
the Development that might affect the Premises) or transported to or
from the premises or the Development (or off site of the Development
that might affect the Premises) by any entity, firm or person, or from
any source whatsoever.
MISCELLANEOUS: Miscellaneous items as outlined in Paragraph 42 of the Lease
Agreement shall be modified and amended as follows:
1) Tenant agrees to assign to Nextlink Communications approximately 95 of
the 115 parking spaces available currently to Adams Golf.
ALL OTHER TERMS, CONDITIONS, AND PROVISIONS OF THE LEASE AGREEMENT SHALL
REMAIN UNMODIFIED.
AGREED TO AND ACCEPTED ON THIS 31 DAY IN JANUARY 2000 BY:
LANDLORD TENANT:
JACKSON-SHAW TECHNOLOGY ADAMS GOLF, INC.
CENTER II, LTD.
BY: JACKSON-SHAW/TEXAS, INC.
GENERAL PARTNER
/s/ Stephen S. Kurth /s/ Richard Murtland
- ---------------------------- ----------------------------
BY: STEPHEN S. KURTH BY: RICHARD MURTLAND
ITS: FIRST VICE PRESIDENT ITS: VICE PRESIDENT OF OPERATIONS