First Amendment to Commercial Lease Agreement between Anne Arundel Development Group, LLC and EVO Transportation, Inc.
This amendment updates the original commercial lease between Anne Arundel Development Group, LLC (landlord) and EVO Transportation, Inc. (tenant). The lease term is extended to April 30, 2023, but the tenant may end the lease early on April 30, 2022, with 90 days' written notice. The annual rent increase is reduced from 5% to 2.5% starting May 1, 2021. All other terms of the original lease remain unchanged.
Exhibit 10.118
FIRST AMENDMENT TO COMMERICAL LEASE AGREEMENT
THIS FIRST AMENDMENT ("Amendment") made as of the 4th day of February, 2021, to the Commercial Lease Agreement dated May 7, 2019, by and between Anne Arundel Development Group, LLC, ("Landlord"), and EVO Transportation, Inc. previously dba John W. Ritter Trucking, Inc. ("Tenant").
WJTNESSETH:
WHEREAS, the parties to the Lease desire to amend the Lease by this Amendment, TT IS HEREBY AGREED, in consideration of the premises herein, as follows:
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| 1. | Paragraph 2 (Term/Renewal Term), is amended by extending the Lease Term to April 30, 2023. Tenant shall have the right to terminate the Lease on April 30, 2022, by providing Landlord with ninety (90) days' prior written notice. Landlord's termination rights in Paragraph 2 of the Lease remain unchanged. |
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| 2. | Paragraph 2 (Term/Renewal Term) the 5% annual Rent increase shall be reduce to a 2.5% annually Rent increase beginning May I, 2021. |
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| 3. | All other terms and conditions of the Lease, unless specifically modified by this Amendment, shall remain in full force and effect without modification. |
IN WITNESS WHEREOF, the parties hereto have executed this Amendment on the day and year first above written.
| ATTEST: |
| Anne Arundel Development Group, LLC | ||
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| Landlord | ||
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| By: |
| /s/ Berkeley M. Shervin |
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| Berkeley M. Shervin |
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| Managing Member |
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| ATTEST: |
| EVO Transportation, Inc. | ||
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| Tenant | ||
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| By: |
| /s/ Matthew Ritter |
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| Matthew Ritter |
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| Deputy COO |
