EXHIBIT 10.18
FIRST AMENDMENT TO LEASE
This Amendment to Lease ("Amendment") is entered into on March 31 ,
1997, between Pearle Vision, Inc., the successor in interest to Eyelab, Inc.
("Tenant") and Metric Income Trust Series, Inc., successor in interest to
Anthony A. Petrarca ("Landlord").
WHEREAS, Landlord and Tenant entered into a lease agreement dated May
4, 1988, for a certain premises located at 1281 Southlake Circle, Morrow,
Georgia 30260 (the "Premises"); and
WHEREAS, Landlord and Tenant desire to extend the terms of the Lease
and modify the rent.
THEREFORE, in consideration of the mutual covenants contained herein
and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, it is agreed as follows:
(1) The term of the lease is extended so that it expires on March
31, 2007.
(2) Fixed rent shall be payable as follows:
April 1, 1997 - March 31, 2002; $9,057.75/mo.; $108,693.00/yr.
April 1, 2002 - March 31, 2003; $9,329.50/mo.; $111,954.00/yr.
April 1, 2003 - March 31, 2004; $9,609.42/mo.; $115,313.00/yr.
April 1, 2004 - March 31, 2005; $9,897.67/mo.; $118,772.00/yr.
April 1, 2005 - March 31, 2006; $10,194.58/mo.;
$122,335.00/yr.
April 1, 2006 - March 31, 2007; $10,500.42/mo.;
$126,005.00/yr.
(3) Landlord's address for notice is Metric Income Trust Series,
Inc. c/o SSR Realty Advisors, Inc., One California Street,
Suite 1400, San Francisco, CA 94111-5415.
(4) All other terms and conditions of the Lease will remain and
continue in full force and effect and will be deemed unchanged
except to the extent provided herein.
First Amendment to Lease dated March 31, 1997
1281 Southlake Circle, Morrow, GA 30260
TENANT:
Pearle Vision, Inc.
By: /s/ J. David Pierson, President
---------------------------------
J. David Pierson, President
LANDLORD:
Metric Income Trust Series, Inc.,
a California corporation
By: Metric Realty Services, Inc.,
a Delaware corporation,
its agent and property manager
By: /s/ Richard A. Faber
-----------------------------
Richard A. Faber
Vice President