SECOND AMENDMENT OF
AGREEMENT OF LEASE
FEBRUARY 11, 2000
Between: FIVE REGENT PARK ASSOCIATES (Landlord)
a New Jersey Partnership
c/o Eastman Management Corporation
651 West Mount Pleasant Avenue
Livingston, New Jersey 07039
And: AMERICAN DISEASE MANAGEMENT ASSOCIATES (Tenant)
#5N Regent Street
Livingston, New Jersey 07039
RE: Lease Dated July 22, 1996
First Amendment Dated June 15, 1999
WITNESSETH
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WHEREAS, on July 22, 1996, the parties entered into a Lease Agreement for office
space in the building known as #5N Regent Street, Livingston, New Jersey; and a
First Amendment of Agreement of Lease dated June 15, 1999 herein referred to as
the "Lease";
WHEREAS, the parties now desire to amend the aforesaid Lease Agreement by taking
additional space in the Building in Suite 512 as shown on the sketch attached
hereto as Exhibit "A" ("Expansion Area"); extending the term and modifying other
terms of the Lease.
NOW THEREFORE, for and in consideration of the mutual covenants set forth, the
receipt and sufficiency of which are mutually acknowledged, the parties hereto
agree to amend the original Lease Agreement, dated July 22, 1996 and subsequent
Amendment of Lease as follows;
1. Contingency: This Amendment shall be contingent upon Landlord's obtaining a
Release and Early Termination Agreement from the current lessee of Suite
512 within 30 days of execution of this Amendment. If such release is not
obtained within said 30 day period, this Amendment shall be null and void
and of no effect.
2. Beginning on the date Landlord substantially completes the work set forth
in paragraph 3 below, ("Expansion Area Commencement Date"), the Basic Rent,
as the term is defined in the Lease for the Expansion Area shall be in the
amount of $33,750.00 per annum or $2,812.50 per month. Tenant shall also
pay, as additional Rent for the Expansion Area, the initial amount of
$1,041.66 per month.
3. Beginning on the Expansion Area Commencement Date, the Premises as defined
in the Lease shall be expanded by 2,500 square feet. The total Rentable
Area of the Premises and Expansion Area shall be 6,187, and the Tenant's
Proportionate Share shall be 9.00%.
4. Landlord shall perform in the Expansion Area, the renovation work as
outlined on the attached floor plan, Exhibit A, as soon as practical upon
the execution of this Amendment and satisfaction of the Contingency.
American Disease Management Associates
Second Amendment of Agreement of Lease
PAGE 2
5. The Lease Term, as that term is defined on page 2 of the Original Lease
Agreement shall be for a period of thirty-six (36) months from the
Expansion Area Commencement Date. The Term for the original Premises shall
be extended
6. Paragraph 3 of the First Amendment of Agreement of Lease shall be deleted
and replaced with the following:
"Landlord shall refund a portion of the total Security Deposit held by
Landlord pursuant to the Lease in following manner: On April 1, 2000.
July 1, 2000, October 1,2000, and December 1, 2000, Landlord shall
refund to Tenant $781.00 of Security Deposit"
7. Effective upon the Expansion Area Commencement Date, all references to the
term Expansion Area shall also have the same meaning as Premises in the
Lease except, except as otherwise modified herein.
8. Tenant shall not disclose any facts or terms of this Agreement to any third
party including former, current or future tenants of the Building.
9. In all other respects, except as expressly modified herein, the said Lease
and Lease Amendments between the parties are hereby ratified and confirmed.
Any terms not herein defined shall have the same meaning as in the Lease.
IN WITNESS WHEREOF, the parties have hereunto set their hands on
the date first written above.
WITNESS: (Landlord)
FIVE REGENT PARK ASSOCIATES
By: Janfel-JBS Corp., a General Partner
/s/ Joanne Tufano By: /s/ Peter Schofel
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Peter Schofel, Vice President
ATTEST: (Tenant)
AMERICAN DISEASE MANAGEMENT
ASSOCIATES
/s/ Elizabeth Williams By: /S/ Bruce Blake
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Bruce Blake, President