Second Lease Amendment Agreement between Lizzie Realty, LLC and The RAL Supply Group, Inc. (New Windsor, NY)

Summary

This agreement is a second amendment to a commercial lease between Lizzie Realty, LLC (landlord) and The RAL Supply Group, Inc. (tenant) for premises at 389 Windsor Highway, New Windsor, NY. The tenant renews the lease for five years, ending April 30, 2013, and leases an additional 1,000 square feet (totaling 11,000 square feet) at an extra annual rent of $10,500, subject to annual CPI adjustments. All other terms of the original lease remain unchanged. The agreement is governed by New York law.

EX-10.14 15 ex10_14.txt EXHIBIT 10.14 Exhibit 10.14 New Windsor July 6, 2007 David Berman Lizzie Realty, LLC c/o Decorative Product Source, Inc. 1 Coates Drive, Suite 5 Goshen, NY 10924 Subject: Second Lease Amendment Agreement (Additional 1,000 square feet for a total of 11,000 square feet) Premises: NEW WINDSOR, New York, 389 Windsor Highway (Approximately 10,000 square feet 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 Lizzie Realty, LLC ("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. As of July 1, 2007, Schedule A of the Lease Agreement and amendments and/or modifications thereto is hereby modified and amended to include an additional 1,000 square feet (the "Additional Leased Space") at an additional $10,500.00 annually ($875.00 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. Lizzie Realty, LLC f/k/a RAL Purchasing Corp. By: /s/ William Pagano By: /s/ David Berman ---------------------------- ----------------------------- William Pagano, Executive VP David Berman, Managing Member (President) 2