Exhibit 10.37
AMENDMENT III
AMENDMENT III, to be attached to and form a part of Lease Agreement dated 9
November 1990, Amendment I dated 5 March 1992 and Amendment II dated 21 April
1997, which together with any amendments, modifications and extensions thereof
is hereinafter referred to as "Lease Agreement",
BETWEEN:
Crow Kessler, a Texas Limited Partnership
hereinafter referred to as "LESSOR", and
Papa Johns International, Inc., a Delaware corporation
hereinafter referred to as "LESSEE",
concerning the premises described as follows:
Approximately 35,724 SF of office/warehouse space, which shall herein be
deemed to be as displayed in Exhibit A-3, within Decimal Point Service
Center #3, as described on Exhibit B-3.
WHEREAS, Lessor and Lessee desire to extend the term of said Lease Agreement;
Now, THEREFORE, in consideration of the mutual covenants herein set forth and
other good and valuable consideration, Lessor and Lessee hereby amend said Lease
Agreement to read as follows:
1. Reference Paragraph 1, TERM: The term of the Lease is hereby renewed and
extended for an additional term of six (6) months to commence on July 1,
1998 and ending December 31, 1998.
2. Reference Paragraph 2A, BASE RENT: During the extended term, commencing on
the Commencement Date, Lessee agrees to pay Lessor for the leased premises,
in advance, without demand the following:
Period Monthly Rental
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1 - 6 Months $14,498.66/Month
The amount of monthly rental and the initial monthly escrow payments are as
follows:
(1) Base Rent as set forth in Paragraph 2A $ 14,498.66
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(2) Tax Escrow Payment $ 1,190.80
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(3) Insurance Escrow Payment $ 297.70
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(4) Utility Charge $ ****
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(5) Common Area Charge $ 1,190.80
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(6) Security Services $ ****
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(7) Other (Drainage) $ ****
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Monthly Payment Total $ 17,177.96
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3. Lessee shall accept the premises for this renewal term on an "as is" basis.
All other terms of the original Lease Agreement dated 9 November 1990, Amendment
I dated 5 March 1992 and Amendment II dated 21 April 1997 shall remain the same.
IN WITNESS WHEREOF, the parties hereto have signed this Amendment III this 23
day of December, 1997.
LESSEE: LESSOR:
Papa Johns International CIT Asset Management, L.P.
a Delaware Corporation Agent for Crow Kessler
a Texas Limited Partnership
By: Crow Family, Inc., its General Partner
By: /s/ Richard J. Emmett By: /s/ James C. Hendricks
--------------------------- --------------------------------------
Richard J. Emmett James C. Hendricks
Title: VP and Senior Counsel Title: Vice President
------------------------ -----------------------------------
Witness: /s/ Lee Ann Zeller Witness: /s/ David T. Cobell
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EXHIBIT A-3
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LEASED PREMISES
35,724 SF
[FLOOR PLAN APPEARS HERE]
EXHIBIT B-3
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DECIMAL POINT SERVICE CENTER
BUILDING 3
Beginning at a point in the south line of a tract of land conveyed to
Crow-DiMartino #5 as recorded in Deed Book 5414, Page 214, Deed Book 5432, Page
263 and Deed Book 5432, Page 272 in the aforementioned clerk's office and the
northwest corner of a tract of land conveyed to Crow-Kessler A Texas Limited
Partnership as recorded in Deed Book 5432, Page 263 in the aforementioned
clerk's office; thence with said line South 14 degrees 00' 00" East, 355.00 feet
to a point; thence leaving said line South 35 degrees 45' 31" West, 22.88 feet
to a point; thence South 76 degrees 00' 00" West, 129.09 feet to point; thence
North 14 degrees 00' 00" West, 20.57 feet to a point; thence South 76 degrees
00' 00" West, 105.00 feet to a point; thence North 14 degrees 00' 00" West,
258.73 feet to a point; thence with the arc of a curve to the right having a
radius of 144.41 feet and a chord of North 05 degrees 13' 59" West, 44.02 feet
to a point in the southern right-of-way line of Bluegrass Court; thence with the
south right-of-way line of Bluegrass Court with the arc of a curve to the left
having a radius of 60 feet and the following three chords: South 77 degrees 51'
40" East, 41.43 feet to a point; North 36 degrees 56' 33" East, 84.85 feet to a
point; North 13 degrees 40' 57" West, 11.76 feet to a point in the south line of
a tract of land conveyed to Crow-DiMartino #5 as previously mentioned; thence
North 76 degrees 00' 00" East, 141.70 feet to the point of beginning containing
1.941 acres.