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EXHIBIT 10.16
FOURTH AMENDMENT TO SUBLEASE
This Fourth Amendment to Sublease (the "Fourth Amendment") is made and
entered into as of the 1st day of February, 1996 by and between Hewson-Memphis
Partners, a California general partnership composed of W. Howard Lester, James
A. McMahan, Gary J. Hewson and Robert K. Earley (the "Landlord") and
Williams-Sonoma, Inc., a California corporation (the "Tenant"), and amends that
certain Sublease dated as of the 1st day of August, 1990 (the "Sublease"), that
certain First Amendment to Sublease dated as of the 22nd day of December, 1993
(the "First Amendment"), that certain Second Amendment to Sublease dated as of
September 1, 1994 (the "Second Amendment"), and that certain Third Amendment to
Sublease dated October 24, 1995 (the "Third Amendment") between Landlord and
Tenant (the Sublease, the First Amendment, the Second Amendment, and the Third
Amendment, collectively, the "Existing Sublease"), as follows:
1. Exhibit C to the Existing Sublease is replaced in its entirety by
Exhibit C attached hereto.
2. Exhibit C-1 to the Existing Sublease is replaced in its entirety by
Exhibit C-1 attached hereto.
3. In all other respects, the Existing Sublease shall remain unmodified
and in full force and effect.
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IN WITNESS WHEREOF, the parties hereto have executed this Fourth
Amendment to Sublease as of the day and year first above written.
WILLIAMS-SONOMA, INC., a HEWSON-MEMPHIS PARTNERS, a
California corporation California General Partnership
By: /s/ DENNIS CHANTLAND By: /s/ W. HOWARD LESTER
------------------------------- ----------------------------------
Dennis Chantland, W. Howard Lester, General Partner
Executive Vice President
and Chief Administrative
Officer By:
----------------------------------
James A. McMahan, General Partner
TENANT
By:
----------------------------------
Gary J. Hewson, General Partner
By:
----------------------------------
Robert K. Earley, General Partner
LANDLORD
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EXHIBIT "C"
WS2Bdgt/RENT8.WQ1
HEWSON-MEMPHIS PARTNERS/WILLIAMS-SONOMA, INC.
PH PH
1 II
LSE YR LSE YR TOTAL
- ------ ------ ---------
1 1,198,233 0 -- 1,198,233
2 1,162,232 0 -- 1,162,232
3 1,307,232 0 -- 1,307,232
4 1,347,072 0 -- 1,347,072
5 1,349,976 1 1,358,241 2,708,217
6 1,345,812 2 1,237,460 2,583,272
7 1,377,300 3 1,225,385 2,602,685
8 1,384,508 4 1,279,411 2,663,919
9 1,378,608 5 1,323,183 2,701,791
10 1,370,636 6 1,319,603 2,690,239
11 1,375,592 7 1,299,221 2,674,813
12 1,371,920 8 1,303,587 2,675,507
13 1,375,144 9 1,291,251 2,666,395
14 1,369,220 10 1,301,660 2,670,880
15 1,364,672 11 1,287,917 2,652,589
16 XXX% FMV 12 XXX% FMV T-B-D
17 " " 13 " " T-B-D
18 " " 14 " " T-B-D
19 " " 15 " " T-B-D
20 " " 16 " " T-B-D
21 XXX% FMV 17 XXX% FMV T-B-D
22 " " 18 " " T-B-D
23 " " 19 " " T-B-D
24 " " 20 " " T-B-D
25 " " 21 " " T-B-D
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TOTAL 1990 TOTAL 1994 CUMULATIVE
DATE INTEREST PRINCIPAL DEBT SERVICE INTEREST PRINCIPAL DEBT SERVICE DEBT SERVICE
- ----------- ---------- ---------- ------------ ---------- ------------ ------------ ------------
01-Feb-96 265,216.00 265,216.00 261,562.50 2,675,000.00 2,956,562.50 3,221,776.50
01-May-96 265,216.00 265,216.00 221,308.13 221,308.13 486,524.13
01-Aug-96 265,216.00 185,000.00 450,216.00 221,308.13 225,000.00 446,308.13 896,524.13
01-Nov-96 260,424.50 260,424.50 216,240.00 216,240.00 476,664.50
01-Feb-97 260,424.50 260,424.50 216,240.00 216,240.00 476,664.50
01-May-97 260,424.50 260,424.50 216,240.00 216,240.00 476,664.50
01-Aug-97 260,424.50 200,000.00 460,424.50 216,240.00 245,000.00 461,240.00 921,664.50
01-Nov-97 255,244.50 255,244.50 210,721.38 210,721.38 465,065.88
01-Feb-98 255,244.50 255,244.50 210,721.38 210,721.38 465,065.88
01-May-98 255,244.50 255,244.50 210,721.38 210,721.38 465,065.88
01-Aug-98 255,244.50 220,000.00 475,244.50 210,721.38 255,000.00 465,721.38 940,965.88
01-Nov-98 249,546.50 249,546.50 204,977.50 204,977.50 454,524.00
01-Feb-99 249,546.50 249,546.50 204,977.50 204,977.50 454,524.00
01-May-99 249,546.50 249,546.50 204,977.50 204,977.50 454,524.00
01-Aug-99 249,546.50 250,000.00 499,546.50 204,977.50 280,000.00 484,977.50 984,524.00
01-Nov-99 243,071.50 243,071.50 198,670.50 198,670.50 441,742.00
01-Feb-2000 243,071.50 243,071.50 198,670.50 198,670.50 441,742.00
01-May-2000 243,071.50 243,071.50 198,670.50 198,670.50 441,742.00
01-Aug-2000 243,071.50 270,000.00 513,071.50 198,670.50 295,000.00 493,670.50 1,006,742.00
01-Nov-2000 236,078.50 236,078.50 192,025.63 192,025.63 428,104.13
01-Feb-2001 236,078.50 236,078.50 192,025.63 192,025.63 428,104.13
01-May-2001 236,078.50 236,078.50 192,025.63 192,025.63 428,104.13
01-Aug-2001 236,078.50 290,000.00 526,078.50 192,025.63 315,000.00 507,025.63 1,033,104.13
01-Nov-2001 228,567.50 228,567.50 184,930.25 184,930.25 413,497.75
01-Feb-2002 228,567.50 228,567.50 184,930.25 184,930.25 413,497.75
01-Aug-2002 228,567.50 325,000.00 553,567.50 184,930.25 340,000.00 524,930.25 1,078,497.75
01-Nov-2002 220,150.00 220,150.00 177,271.75 177,271.75 397,421.75
01-Feb-2003 220,150.00 220,150.00 177,271.75 177,271.75 397,421.75
01-May-2003 220,150.00 220,150.00 177,271.75 177,271.75 397,421.75
01-Aug-2003 220,150.00 355,000.00 575,150.00 177,271.75 370,000.00 547,271.75 1,122,421.75
01-Nov-2003 210,955.50 210,955.50 168,937.50 168,937.50 379,893.00
01-Feb-2004 210,955.50 210,955.50 168,937.50 168,937.50 379,893.00
01-May-2004 210,955.50 210,955.50 168,937.50 168,937.50 379,893.00
01-Aug-2004 210,955.50 395,000.00 605,955.50 168,937.50 395,000.00 563,937.50 1,169.893.00
01-Nov-2004 200,725.00 200,725.00 160,040.13 160,040.13 360,765.13
01-Feb-2005 200,725.00 200,725.00 160,040.13 160,040.13 360,765.13
01-May-2005 200,725.00 200,725.00 160,040.13 160,040.13 360,765.13
01-Aug-2005 200,725.00 430,000.00 630,725.00 160,040.13 430,000.00 590,040.13 1,220,765.13
01-Nov-2005 189,588.00 189,588.00 150,354.38 150,354.38 339,942.38
01-Feb-2006 189,588.00 189,588.00 150,354.38 150,354.38 339,942.38
01-May-2006 189,588.00 189,588.00 150,354.38 150,354.38 339,942.38
01-Aug-2006 189,588.00 470,000.00 659,588.00 150,354.38 455,000.00 605,354.38 1,264,942,38
01-Nov-2006 177,415.00 177.415.00 140,105.50 140,105.50 317,520.50
01-Feb-2007 177,415.00 177.415.00 140,105.50 140,105.50 317,520.50
01-May-2007 177,415.00 177.415.00 140,105.50 140,105.50 317,520.50
01-Aug-2007 177,415.00 515,000.00 692.415.00 140,105.50 500,000.00 640,105.50 1,332,520.50
01-Nov-2007 164,076.50 164,076.50 128,843.00 128,843.00 292,919.50
01-Feb-2008 164,076.50 164,076.50 128,843.00 128,843.00 292,919.50
01-May-2008 164,076.50 164,076.50 128,843.00 128,843.00 292,919.50
Exhibit C-1
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TOTAL 1990 TOTAL 1994 CUMULATIVE
DATE INTEREST PRINCIPAL DEBT SERVICE INTEREST PRINCIPAL DEBT SERVICE DEBT SERVICE
- ----------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
01-Aug-2008 164,076.50 565,000.00 729,076.50 128,843.00 530,000.00 658,843.00 1,387,919.50
01-Nov-2008 149,443.00 149,443.00 116,904.75 116,904.75 266,347.75
01-Feb-2009 149,443.00 149,443.00 116,904.75 116,904.75 266,347.75
01-May-2009 149,443.00 149,443.00 116,904.75 116,904.75 266,347.75
01-Aug-2009 149,443.00 625,000.00 774,443.00 116,904.75 580,000.00 696,904.75 1,471,347.75
01-Nov-2009 133,255.50 133,255.50 103,840.25 103,840.25 237,095.75
01-Feb-2010 133,255.50 133,255.50 103,840.25 103,840.25 237,095.75
01-May-2010 133,255.50 133,255.50 103,840.25 103,840.25 237,095.75
01-Aug-2010 133,255.50 680,000.00 813,255.50 103,840.25 620,000.00 723,840.25 1,537,095.75
01-Nov-2010 115,643.50 115,643.50 89,874.75 89,874.75 205,518.25
01-Feb-2011 115,643.50 115,643.50 89,874.75 89,874.75 205,518.25
01-May-2011 115,643.50 115,643.50 89,874.75 89,874.75 205,518.25
01-Aug-2011 115,643.50 755,000.00 870,643.50 89,874.75 680,000.00 769,874.75 1,640,518.25
01-Nov-2011 96,089.00 96,089.00 74,557.75 74,557.75 170,646.75
01-Feb-2012 96,089.00 96,089.00 74,557.75 74,557.75 170,646.75
01-May-2012 96,089.00 96,089.00 74,557.75 74,557.75 170,646.75
01-Aug-2012 96,089.00 825,000.00 921,089.00 74,557.75 730,000.00 804,557.75 1,725,646.75
01-Nov-2012 74,721.50 74,721.50 58,114.50 58,114.50 132,836.00
01-Feb-2013 74,721.50 74,721.50 58,114.50 58,114.50 132,836.00
01-May-2013 74,721.50 74,721.50 58,114.50 58,114.50 132,836.00
01-Aug-2013 74,721.50 865,000.00 939,721.50 58,114.50 795,000.00 853,114.50 1,792,836.00
01-Nov-2013 52,318.00 52,318.00 40,207.13 40,207.13 92,525.13
01-Feb-2014 52,318.00 52,318.00 40,207.13 40,207.13 92,525.13
01-May-2014 52,318.00 52,318.00 40,207.13 40,207.13 92,525.13
01-Aug-2014 52,318.00 955,000.00 1,007,318.00 40,207.13 855,000.00 895,207.13 1,902,525.13
01-Nov-2014 27,583.50 27,583.50 20,948.25 20,948.25 48,531.75
01-Feb-2015 27,583.50 27,583.50 20,948.25 20,948.25 48,531.75
01-May-2015 27,583.50 27,583.50 20,948.25 20,948.25 48,531.75
01-Aug-2015 27,583.50 1,065,000.00 1,092,583.50 20,948.25 930,000.00 950,948.25 2,043,531.75
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13,935,236.00 10,240,000.00 24,175,236.00 11,274,438.25 12,500,000.00 23,774,438.25 47,949,674.25
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