Addendum to Lease Agreement between Robledo Investments, Ltd. dba Judson Plaza and Friedman Industries, Inc.

Summary

This addendum extends the lease between Robledo Investments, Ltd. (Landlord) and Friedman Industries, Inc. (Tenant) for commercial space at Judson Plaza, Longview, Texas. The lease is extended for 84 months from May 1, 2001, to April 30, 2008, at a monthly rent of $2,272. The Landlord will paint and carpet the space within 60 days. The Tenant has the right to renew for an additional 5 years with a rent increase capped at 5%, and a right of first refusal on adjacent space. All other original lease terms remain in effect.

EX-10.3 5 h89772ex10-3.txt ADDENDUM TO LEASE AGREEMENT 1 EXHIBIT 10.3 ADDENDUM TO LEASE AGREEMENT BY AND BETWEEN ROBLEDO INVESTMENTS, LTD. dba JUDSON PLAZA AND Friedman Industries, Inc. This addendum is to that certain Lease Agreement entered in of the 16th day of March 1996, by and between Judson Plaza, Inc., herein being known as Robledo Investments, Ltd., dba, Judson Plaza, (hereafter referred to as Landlord) and Friedman Industries, Inc. (hereafter referred to as Tenant). This addendum is hereby entered into by and between the Parties as follows: WITNESSETH: WHEREAS, Tenant has heretofore leased from Landlord space in the amount of 2596 square feet in that certain commercial building known as Judson Plaza located at 1121 & 1125 Judson Road, Longview, Gregg County, Texas (hereinafter referred to as the "building"); and WHEREAS, Tenant desires to EXTEND term of the lease agreement; NOW, THEREFORE, for and in consideration of the mutual convenience herein contained in the Lease Agreement, the Parties do hereby agree as follow: 1. Landlord hereby agreed to extend the term of the lease for additional term of Eighty four (84) months commencing May 1, 2001 and expiring April 30, 2008. 2. Monthly rental installment: $2,272.00. 3. Landlord agrees to paint & carpet space within 60 days of the execution of this document. 4. Landlord grants tenant the right to renew the lease for an additional term of 5 years at a rate increase not to exceed 5%. Tenant shall provide Landlord notice within 90 days prior to expiration of the primary term should tenant wish to extend lease. 5. Landlord agrees to grant tenant a right of first refusal to lease additional space contiguous and located across the hallway from tenants current space. Upon notice from Landlord of the availability of additional space, tenant shall have 7 working days to notify Landlord of their commitment to lease said space. The rate for the additional space shall be at tenants per square foot rate. 6. Landlord and Tenant hereby agree to be bound by all other terms of the Lease Agreement in regard to this Lease Agreement. DATE AS OF THE 12th DAY OF APRIL, 2001. LANDLORD: TENANT: ROBLEDO INVESTMENTS, LTD. FRIEDMAN INDUSTRIES, INC. dba JUDSON PLAZA BY: /s/ [ILLEGIBLE] BY: /s/ WILLIAM E. CROW ---------------------------- ---------------------------- (Signature) (Signature)