Exhibit 10.10.2
---------------
THIRD AMENDMENT TO LEASE
THIS THIRD AMENDMENT TO LEASE (this "Third Amendment") is entered into
as of the 1st day of September 1998 (the "Effective Date") by and between 6715
Kenilworth Avenue General Partnership ("Landlord") and Pathnet, Inc.
("Tenant").
R E C I T A L S
A. Landlord and Tenant are parties to that certain Lease Agreement
dated August 9, 1997, as amended by that certain Amendment to Lease dated March
5, 1998 and that Second Amendment to Lease dated May 1, 1998 (together,
the"Lease").
B. Landlord and Tenant desire to add certain premises to the Lease and
make certain other modifications to the Lease as more particularly set forth
herein.
NOW, THEREFORE, in consideration of the mutual promises of the parties
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereby agree as follows:
1. PREMISES. From and after the Effective Date, the area
described in Exhibit A, attached hereto and incorporated
herein, located on the first floor of the building containing
the Premises and consisting of approximately 1,500 square
feet, is hereby incorporated into the Premises for all
purposes.
2. RENT. In Paragraph 3 of the Lease, as amended by the Second
Amendment to Lease, (i) the number "$305,860.00" is hereby
deleted and the number "335,860.00" is inserted in its place;
and (ii) the number "25,488.33" is hereby deleted, and the
number "27,988.00" is inserted in its place.
3. SECURITY DEPOSIT. As of the date hereof, Tenant has increased
the Security Deposit under the Lease by delivering to
Landlord, and Landlord hereby acknowledges receipt of, the sum
of $2,500. The parties acknowledge that the Security Deposit
is currently $19,493.33.
4. IMPROVEMENTS. The parties acknowledge that certain
improvements will be constructed in the Premises pursuant to a
separate agreement.
5. CAPITALIZED TERMS. All capitalized terms not defined herein
shall have the meanings ascribed to such terms in the Lease.
6. RATIFICATION. Except as expressly modified herein, the Lease
remains in full force and effect in accordance with its terms.
[SIGNATURES BEGIN ON FOLLOWING PAGE]
EXECUTED, under seal, as of the day and year first written above.
LANDLORD:
6715 KENILWORTH AVENUE
GENERAL PARTNERSHIP
BY: /s/David Schaeffer
---------------------
David Schaeffer
General Partner
TENANT:
PATHNET, INC.
BY: /s/William R. Smedberg V
--------------------------
William R. Smedberg V
Vice President, Finance and
Corporate Development