EXHIBIT 10.137
FIRST MODIFICATION OF LEASE AGREEMENT
LANDLORD NAME
AND ADDRESS: CONCORD MILLS LIMITED PARTNERSHIP,
a Delaware limited partnership
1300 Wilson Boulevard, Suite 400
Arlington, Virginia 22209
TENANT NAME
AND ADDRESS: TOYS INTERNATIONAL, INC.,
a California corporation
550 Rancheros Drive
San Marcos, California 92069
DATE OF LEASE: August 10, 1998
LEASED PREMISES: Store #522 (approximately 8,135 sf)
SHOPPING CENTER: Concord Mills,
Concord, North Carolina
R E C I T A L
WHEREAS, Landlord and Tenant have entered into a Lease dated August 10,
1998 ("Lease"), whereby Landlord has leased to Tenant the Leased Premises for a
term of approximately ten (10) years.
WHEREAS, Landlord and Tenant have agreed to modify the Lease to increase
Tenant's square footage of the Leased Premises and adjust the Minimum Rent and
Percentage Rent accordingly, all as provided for herein.
NOW, THEREFORE, in consideration of the mutual covenants herein contained,
it is hereby agreed as follows:
1. DESCRIPTION OF LEASED PREMISES:
Store Number: 518, consisting of approximately 10,402 square feet of floor
area as shown on Exhibit "A".
2. MINIMUM RENT:
Original Term:
From the Commencement Date and continuing through the fifth (5th) year of
the Original Term, the sum of $228,844.00 ($22.00 psf) annually, payable in
equal consecutive monthly installments of $19,070.33 each;
Beginning with the sixth (6th) year and continuing through the expiration
of the Original Term, the sum of $249,648.00 ($24.00 psf) annually, payable in
equal consecutive monthly installments of $20,804.00 each.
3. PERCENTAGE RENT:
Percentage Factor: 6%
Sales Break Point for the Original Term:
From the Commencement Date through the fifth (5th) year of the Original
Term: $3,269,200.00;
Beginning with the sixth (6th) year and continuing through the expiration
of the Original Term: $3,566,400.00.
4. Exhibit "A" is replaced with the attached Exhibit "A" dated August 5,
1998.
5. Exhibit "D", page 14, line 41 is replaced with 10,402 square feet.
6. Except as expressly modified in this First Modification of Lease
Agreement, all the terms, covenants and conditions of said Lease shall remain
the same and in full force and effect, shall be binding on the parties hereto,
and are hereby ratified and affirmed. Unless specifically defined herein, the
capitalized terms used in this First Modification of Lease Agreement shall have
the meanings defined in the Lease.
IN WITNESS WHEREOF, the parties hereto have set their hand and seal as
of the ___ day of __________, 19__ and declare this First Modification of Lease
Agreement to be binding on them, their respective successors and permitted
assigns.
WITNESS: LANDLORD:
CONCORD MILLS LIMITED PARTNERSHIP, a Delaware limited partnership
By: Concord Mills, L.L.C., a Delaware limited liability company
Its: General Partner
By: The Mills Limited Partnership, a Delaware limited partnership
Its: Manager
By: The Mills Corporation, a Delaware corporation
Its: General Partner
By: ________________________
Judith Berson
Executive Vice President
WITNESS/ATTEST: TENANT:
TOYS INTERNATIONAL, INC.,
a California corporation
__________________________ By: ___________________________
__________________________ Its: ___________________________
__________________________ By: ___________________________
__________________________ Its: ___________________________
Corporate Seal:
ACKNOWLEDGEMENT OF LANDLORD
COMMONWEALTH OF VIRGINIA )
)ss.
COUNTY OF ARLINGTON )
On this ______ day of ________________, 19___, before me personally
appeared Judith Berson to me known to be the person who executed the foregoing
First Modification of Lease Agreement and acknowledged before me that she was
duly authorized and did execute same on behalf of CONCORD MILLS LIMITED
PARTNERSHIP, a Delaware limited partnership.
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Notary Public, Commonwealth of Virginia
My Commission expires:_________________
ACKNOWLEDGMENT OF CORPORATE TENANT
STATE OF )
)ss.
COUNTY OF )
On this ______ day of ________________, 19___, before me personally
appeared ____________________________ and __________________, to me personally
known, who, being by me duly sworn, did for themselves say that they are the
___________________ and ______________________ of TOYS INTERNATIONAL, INC., a
California corporation, the corporation named in and which executed the within
instrument, and that the seal affixed to said instrument is the corporate seal
of said corporation, and that said instrument was signed and sealed in behalf of
said corporation by authority of its board of directors and acknowledged before
me said instrument to be the free act and deed of said corporation.
-----------------------------------
Notary Public
My Commission expires:_____________