Second Lease Amendment Agreement between Suffern Place Associates, LP and The RAL Supply Group, Inc. (Poughkeepsie, NY)

Summary

This agreement is an amendment to an existing lease between Suffern Place Associates, LP (landlord) and The RAL Supply Group, Inc. (tenant) for premises at 759 Main Street, Poughkeepsie, NY. The tenant exercises a five-year renewal option, extending the lease to April 30, 2013. The annual rent is set at $67,500 starting July 1, 2007, with yearly adjustments based on the Consumer Price Index, using May 2007 as the base month. All other lease terms remain unchanged, and New York law governs the agreement.

EX-10.11 12 ex10_11.txt EXHIBIT 10.11 Exhibit 10.11 Poughkeepsie July 6, 2007 David Berman Suffern Place Associates, LP c/o Decorative Product Source, Inc. 1 Coates Drive, Suite 5 Goshen, NY 10924 Subject: Second Lease Amendment Agreement Premises: POUGHKEEPSIE, New York, 759 Main Street (As described in Schedule A of the May 1, 1998 Lease Agreement) Lease History: a. Assumption (and Modification) of Lease dated September 30, 2003 (the "Assumption of Lease Agreement") b. Lease dated May 1, 1998 (the "Lease Agreement") Dear Mr. Berman: With regards to the above Lease Agreement and amendments and/or modifications thereto, by and between Suffern Place Associates, LP ("Landlord") and The RAL Supply Group, Inc. ("Tenant"), Tenant hereby agrees to amend the terms of the subject Lease Agreement and amendments and/or modifications thereto as follows: 1. Tenant hereby exercises its option to renew for five (5) years terminating on April 30, 2013 pursuant to paragraph 1.3 of the referenced Lease Agreement and amendments and/or modifications thereto. Landlord hereby accepts Tenant's exercise of its option to renew for the aforementioned five (5) years terminating on April 30, 2013, the same as if said option were exercised in accordance with the terms of the Lease Agreement and amendments and/or modifications thereto. 2. Commencing July 1, 2007, the Fixed Minimum Annual Rent shall be the sum of $67,500.00 ($5,625.00 per month) which on July 1, 2008 and each year thereafter shall be adjusted for CPI Index increases as described in Schedule B of the Lease Agreement and amendments and/or modifications thereto, except that the Base Month for calculation of this increase shall be May 2007. 3. The validity of the Lease Agreement and amendments and/or modifications thereto shall be governed by the laws of the State of New York. All other terms and conditions of the aforementioned Lease Agreement and amendments and/or modifications thereto shall remain in full force and effect. If this agrees with your understanding, kindly sign below. Sincerely, Agreed and Accepted: The RAL Supply Group, Inc. Suffern PlaceAssociates, LP f/k/a RALPurchasing Corp. By: /s/ William Pagano By: /s/ David Berman ---------------------------- ----------------------------- William Pagano, Executive VP David Berman, Managing Member (President) 2