Second Amendment to Lease Agreement Between John G. B. Ellison, Jr. and The Ellison Company, Inc.

Summary

This amendment updates the original lease between John G. B. Ellison, Jr. (landlord) and The Ellison Company, Inc. (tenant), effective July 1, 1999. The tenant must now reimburse the landlord for real property taxes exceeding $19,600 per year and for property insurance costs exceeding $2,200 per year. All other terms of the original lease remain unchanged.

EX-10.11 14 a2035061zex-10_11.txt EXHIBIT 10.11 Exhibit 10.11 SECOND AMENDMENT TO LEASE DATED MAY 3, 1994 BY AND BETWEEN JOHN G. B. ELLISON, JR. ("LANDLORD") AND THE ELLISON COMPANY, INC. ("TENANT") Effective July 1, 1999 this Second Amendment replaces ARTICLE V, Section 5.02, and adds to ARTICLE X, Section 10.02 of the Lease Dated May 3, 1994, by and between John G. B. Ellison, Jr., LANDLORD and The Ellison Company, Inc., TENANT. Replace Article V, Section 5.02 with the following: "REAL PROPERTY TAX. TENANT shall reimburse LANDLORD for all real property taxes and assessments on the Premises in excess of $19,600 due annually." Add the following to Article X, Section 10.02: "TENANT shall reimburse LANDLORD for the cost of property insurance on premises that is in excess of $2,200 annually." ACCEPTED AND AGREED: TENANT: THE ELLISON COMPANY, INC., a North Carolina Corporation [GRAPHIC OMITTED] [CORPORATE SEAL] BY: /s/ Brenda P. Cathcart ----------------------------- Treasurer Date: 6-29-99 -------- ATTEST: /s/ Elaine M. Roberts - -------------------------- Asst. Secretary LANDLORD: /s/ John G. B. Ellison, Jr. (SEAL) ---------------------------- John G. B. Ellison, Jr. Date: 6-30-99 ----------