SECOND AMENDMENT
TO
NET LEASE AND JOINT USE AGREEMENT
This Second Amendment to Net Lease and Joint Use Agreement
("Lease") is made and entered into this day by and between L. Randy Knight, as
Trustee of the R.K. Trust, dated April 1, 1993 ("Landlord"), and Knight
Transportation, Inc., and Arizona corporation ("Tenant").
Recitals
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A. As of March 1, 1994, Tenant entered into a Lease with L.
Randy Knight, a married man dealing with his sole and separate property
("Knight"). By Assignment and First Amendment to Net Lease and Joint Use
Agreement dated September 1, 1994, Knight assigned all of his right, title and
interest in the Lease to Landlord.
B. Landlord and Tenant have agreed to increase the amount of
space being leased from Landlord to Tenant and desire to modify certain other
terms and conditions of the Lease.
Accordingly, effective as of September 1, 1997, the Lease is
amended as follows:
Amendment
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1. The last sentence of Section 2.2, Premises of the Lease, is
deleted and the following substituted therefor:
2.2 Said leasehold space, including all land
and improvements, is herein called the "Premises." The
Premises, as of September 1, 1997, consists of 31,356
square feet of improved space ("Office Space") and
393,139 square feet of parking, maintenance and
terminal space (hereinafter, the "Terminal Space").
The Office Space and the Terminal Space constitute in
total approximately 9.7450 acres.
2. Section 3.3 of the Lease is deleted and the following
provision substituted therefor:
Exhibit 10.2.2
3.3 Expansion of Office Space. During the
term of this Lease and any Option Term, Tenant shall
have the right to expand the Office Space in
increments of not less than 2,240 square feet (as
determined by the Building Structural Post) by
notifying the Landlord in writing (the "Expansion
Notice") 60 days prior to exercising its option to
expand Tenant's Office Space. Upon giving the
Expansion Notice, Tenant shall be obligated to pay
additional Base Rent for the additional Office Space,
which will be an amount equal to the number of square
feet by which the Tenant's Office Space expanded,
multiplied by $1.236.
3. The introductory paragraph and paragraphs (a) and (b) of
Section 4, Rent of the Lease, are deleted and the following provisions
substituted therefor:
4. Commencing September 1, 1997, the monthly
Base Rent shall be $5,922.72 per month. The monthly
Base Rent is based upon a rental of $.00515 square
feet per month for the Terminal Space and $.1236
square feet for Office Space. The total square feet
leased by Tenant is described in Exhibit B attached
hereto. The Base Rent shall be adjusted as described
in Sections 3.3 and 4.2, below.
(a) During the Initial Term
of this Lease and any Option Terms, Tenant shall pay
to Landlord Base rent for the Premises, without prior
notice or demand. Tenant shall pay Landlord the Base
Rent for the first month's occupancy, in advance, on
the Commencement Date.
(b) Rent for any period
during the initial term or any option term that is for
less than one month shall be prorated on the basis of
a 30 day month.
4. Exhibit B to the Lease is hereby deleted, and Exhibit B, as
attached hereto is substituted therefor.
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5. All other terms and conditions of the Lease shall remain as
constituted immediately prior to the effective date of this Second Amendment.
Landlord and Tenant ratify, confirm and approve the Lease as amended hereby and
each agrees that the Lease is in full force and effect.
Dated as of this 1st day of September, 1997.
TENANT:
KNIGHT TRANSPORTATION, INC.
By /s/ Kevin P. Knight
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Kevin P. Knight
Chief Executive Officer
LANDLORD:
R.K. TRUST dated April 1, 1993
By /s/ L. Randy Knight
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L. Randy Knight, Trustee
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