FIRST AMENDMENT TO LEASE
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This Amendment to Lease Agreement made and entered into as
of the 28th day of August, 1991 by and between THE TRUSTEES Of
LASALLE FUND II, a Group Trust organized and existing under the
laws of the State of Illinois (Landlord), and MAGNETEK, INC.,
a Delaware corporation, (Tenant), formally CENTURY ELECTRIC,
INC., a Delaware corporation;
WITNESSETH:
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WHEREAS, Landlord and Tenant entered into a lease agreement
for approximately 183,130 square feet of warehouse and office space
(the "Primary Space") at 1325 Heil Quaker Boulevard (Premises) in
Rutherford County, Tennessee and;
WHEREAS, Landlord and Tenant agree that the said Primary
Space be expanded by an additional 5,114 square feet (the "Expansion
Space") and;
NOW THEREFORE, Landlord and Tenant agree that the said
Lease shall be and the same is hereby amended as follows:
1. PREMISES: Paragraph 1 of the Lease is amended to
reflect that the size of the Primary Space shall be increased by
the Expansion Space as shown in Exhibit A-I which is attached
hereto and incorporated herein for all purposes. Accordingly,
commencing upon the earlier to occur of (a) substantial
completion (as hereinafter defined) of the Finish Work (as
hereinafter defined) for the Expansion Space and (b) Tenant's
occupancy of the Expansion Space, the size of the Premises
covered by the Lease shall be increased from 183,130 square
feet to 188,244 square feet. Final determination of the square
footage shall be made upon completion of construction drawings
and this Paragraph 1 of this Amendment and any subsequent
Paragraph hereinafter affected by the calculation of the square
footage shall also be amended accordingly. The term "substantial
completion" shall mean that the Expansion Space is completed in
accordance with the approved construction drawings as reasonably
determined by Landlord's architect except for punch list items.
The Expansion Space is hereby subject to all the terms and
conditions of the Lease as amended by this Amendment.
2. TERM: Paragraph 2 of the Lease is hereby
modified to read as follows: The Term of this Lease shall be
eight (8) years commencing on September 1, 1991 and shall
expire August 31, 1999.
3. BASE RENTAL RATE: Commencing on September 1, 1991
and continuing throughout the term of the Lease as modified by this
Amendment, the Base Rental due and payable will be as follows:
From To Rate/Sf Monthly Annually
---- --- ------- ------- ---------
9-1-91 8-31-92 $2.40 $36,626.00 $439,512.00
9-1-92 8-31-93 $2.45 $37,389.04 $448,668.50
9-1-93 8-31-94 $2.55 $38,915.13 $466,981.50
9-1-94 8-31-95 $2.60 $39,678.17 $476,138.00
9-1-95 8-31-96 $2.70 $41,204.25 $494,451.00
9-1-96 8-31-97 $2.80 $42,730.33 $512,764.00
9-1-97 8-31-98 $2.90 $44,256.42 $531,077.00
9-1-98 8-31-99 $3.00 $45,782.50 $549,390.00
4. TENANT IMPROVEMENTS: Landlord agrees to construct
and/or install leasehold improvements in and upon the Expansion Space
and the pedestrian lighting (the "Finish Work") in a good and
workmanlike manner at its sole cost and expense which shall not
exceed $262,813.00 (the "Finish Allowance") in accordance with
construction drawings approved by Landlord and Tenant. Change
orders requested by Tenant which increase the cost of construction
of the Finish Work to an amount in excess of the Finish Allowance
shall be payable by Tenant upon demand. Change orders requested
by Tenant which reduce the cost of construction of the Finish Work
shall reduce the Base Rental Rate. Such reduction shall be
calculated by amortizing at ten percent (10%) over the term of
the Lease. For example, if the cost of the Finish Work is reduced
by $50,000, consequently, the reduction in Base Rental per year
would be $9,104.50. Landlord agrees to promptly commence
construction of the finish Work (a) upon mutual execution
of this Amendment and (b) after construction drawings have
been approved by Landlord and Tenant and to proceed with
construction thereof with due diligence until completed. The
failure of Tenant to take possession of the Expansion Space on
or before substantial completion of the Finish Work shall
not relieve Tenant from its obligation to pay any sums required.
5. EXPANSION OPTION: As long as this Lease is in
full force and effect without default by Tenant, Landlord agrees
that, upon written notice from Tenant or prior to Landlord selling
and/or constructing improvements upon the approximate 2.3 acres
contiguous to the Premises, Tenant shall have the right to expand
the Premises up to the amount of 70,000 square feet. If for
any reason, Tenant fails to exercise its right to expand upon
notification from Landlord of its intent to sell or construct
improvements, and does not timely enter into an agreement for the
expansion of the Premises, Landlord will be free to enter into an
agreement to sell or improve the approximate 2.3 acres and Landlord's
obligations as to this paragraph shall be null and void. Should Landlord
fail to enter into an agreement to sell or make improvements following
notice to Tenant, Tenant's rights as to this paragraph shall be reinstated.
The terms and conditions of the expansion shall be negotiated at the
time such Expansion Option is exercised.
All other terms and conditions of the Lease except as modified
herein shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed the foregoing
Lease of the 28th day of August, 1991.
Tenant: Landlord:
MAGNETEK, INC., La Salle Fund II
a Delaware corporation By: La Salle Partners Asset
Management Limited, its
Authorized agent:
By:_______________________________ By:_____________________________
Title:____________________________ Title:__________________________
Date:___________________________
Attest:___________________________
Title:____________________________
Attestation required if
not executed by President
of corporation
SECOND AMENDMENT TO LEASE
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This Amendment to Lease Agreement made and entered into as of the
5th day of February, 1993 by and between THE TRUSTEES OF LASALLE FUND II,
a Group Trust Organized and existing under the laws of the State of Illinois
(Landlord), and MAGNETEK, INC., a Delaware corporation, (Tenant);
WITNESSETH:
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WHEREAS, Landlord and Tenant entered into a lease agreement for
approximately 183,130 square feet of warehouse and office space (the "Primary
Space") at 1325 Heil Quaker Boulevard (Premises) in Rutherford County,
Tennessee, as amended by 1) First Amendment to Lease dated August 28, 1991,
hereinafter collectively referred to as the "Lease", the premises-being more
particularly described therein; and
WHEREAS, Landlord and Tenant wish to amend said Lease;
NOW THEREFORE, in consideration of these presents and the agreement
of each other, Lessor and Lessee agree that said Lease shall be and the same is
hereby amended as of the day first written above, as follows:
1. PREMISES: The size of the Premises covered by the Lease is
hereby increased from 183,130 square feet to 187,930 square feet.
2. BASE RENTAL RATE: Commencing on January 1, 1992 and
continuing throughout the term of the Lease as modified by this Amendment, the
Base Rental due and payable will be as follows:
From To Rate/Sf Monthly Annually
---- --- ------- ------- --------
1-1-92 8-31-92 $2.40 $37,586.00 $300,688.00
9-1-92 8-31-93 $2.45 $38,369.04 $460,428.50
9-1-93 8-31-94 $2.55 $39,935.13 $479,221.50
9-1-94 8-31-95 $2.60 $40,718.17 $488,618.00
9-1-95 8-31-96 $2.70 $42,284.25 $507,411.00
9-1-96 8-31-97 $2.80 $43,850.33 $526,204.00
9-1-97 8-31-98 $2.90 $45,416.42 $544,997.00
9-1-98 8-31-99 $3.00 $46,982.50 $375,860.00
All other terms, conditions and covenants of the
Lease not specifically amended by this Second Amendment to
Lease, are hereby deemed to remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed
the foregoing Lease of the 5th day of February, 1993.
Tenant: Landlord:
MAGNETEK, INC., La Salle Fund II
a Delaware corporation By: La Salle Partners Asset
Management Limited, its
Authorized agent:
By:_______________________________ By:____________________________
Title:____________________________ Title:_________________________
Date:__________________________
Attest:___________________________
Title:___________________________
Attestation required if
not executed by President
of corporation