Amendment No. 3 to Lease Agreement between Energy (NJ) QRS 15-10, Inc. and Foster Wheeler Realty Services, Inc.

Summary

This amendment updates the lease agreement between Energy (NJ) QRS 15-10, Inc. (Landlord) and Foster Wheeler Realty Services, Inc. (Tenant) for the Perryville I building in Clinton, New Jersey. The amendment modifies certain covenants and agreements as outlined in Exhibit E of the original lease, consistent with a related credit agreement amendment. Upon acceptance, the landlord will release $350,000 to the tenant. No default has occurred under the lease as of the amendment date.

EX-10.6 10 b325916_ex10-6.htm AMENDMENT NO. 3 TO THE LEASE AGREEMENT Prepared and filed by St Ives Burrups

  [LETTERHEAD OF FOSTER WHEELER REALTY SERVICES, INC.] Exhibit 10.6 As of July 14, 2003 Energy (NJ) QRS 15-10, Inc. c/o W.P. Carey & Co. LLC 50 Rockefeller Plaza, 2nd Floor New York, New York 10020 Attention: Director, Asset Management Re: Amendment No. 3 Perryville I, Clinton, New Jersey Dear Director: Reference is made to that certain Lease Agreement (the "Lease") dated August 16, 2002, between Energy (NJ) QRS 15-10, Inc., as Landlord, and Foster Wheeler Realty Services, Inc., as Tenant, for the above-referenced building (the "Building"). Pursuant to Exhibit E of the Lease, we hereby deliver a copy of Amendment No. 3 to Credit Agreement, dated as of July 14, 2003 ("the Amendment"), and, by so doing, modify the covenants and agreements set forth at Exhibit E consistent with the Amendment. Upon our receipt of your countersignature, we will promptly arrange to have the Landlord's Consideration in the amount of $350,000 (calculated as shown on Exhibit A hereto) released to you. As of the date hereof, no Event of Default under the Lease has occurred and is continuing. Unless otherwise defined herein, each capitalized term herein shall be deemed to have the meaning assigned to it in the Lease. Please indicate your acknowledgement and acceptance of the foregoing by countersigning and returning a copy of this letter to us. If you require additional information, please contact the undersigned. Very truly yours, FOSTER WHEELER REALTY SERVICES, INC. By: /s/Steven I. Weinstein --------------------------------- Name: Steven I. Weinstein Title: President We hereby acknowledge and accept the foregoing: ENERGY (NJ) QRS 15-10, INC. By: /s/Tom Lewis --------------------------------- Dated: July 24, 2003  Page 2 As of July 14, 2003 cc: Reed Smith LLP 2500 One Liberty Place Philadelphia, Pennsylvania 19103 Attention: Chairman, Real Estate Department Wollf & Samson, P.A. 5 Becker Farm Road Roseland, New Jersey 07068 Attention: Jeffrey M. Gussoff, Esq.  Page 3 As of July 14, 2003 EXHIBIT A Rent Base $44,900,000.00 Amendment Fee @ .009366 = .009366*$44,900,000.00 Gross Fee (before cap) $420,533.00 Cap per Exh. E, Sec. 3(x) $350,000.00 Landlord's Consideration $350,000.00