First Amendment to Lease Agreement between 6800 Broken Sound LLC and Penthouse Media Group Inc. dated June 14, 2006

Contract Categories: Real Estate › Lease Agreements
Summary

This amendment updates the lease between 6800 Broken Sound LLC (landlord) and Penthouse Media Group Inc. (tenant), effective July 1, 2006. It revises the rentable area of the premises and building, sets the tenant’s share of taxes and expenses at 7%, and updates the rent schedule for 2006–2009. The amendment also modifies certain exhibits attached to the original lease. Both parties have agreed to these changes, which clarify financial and space terms for the remainder of the lease period.

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EX-10.34 6 exh10_34.htm AMENDMENT TO LEASE DATED JUNE 14, 2006, BY AND BETWEEN 6800 BROKEN SOUND LLC AND PENTHOUSE MEDIA GROUP INC. Exhibit 10.34

Exhibit 10.34

June 14, 2006

VIA EMAIL

James Sullivan

Penthouse Media Group Inc.

2 Penn Plaza, 11th Floor

New York, NY  10121

Re:

Lease Agreement Between 6800 Broken Sound LLC (“Landlord”) and Penthouse Media Group Inc. (“Tenant”) dated November 2, 2004.

Dear Mr. Sullivan:

Reference is made to the Lease.

Tenant hereby agrees to amend the Lease effective July 1, 2006 as follows:

Article1 H. Rentable Area:  The rentable area of the Premises shall be deemed 3,533 square feet, and the rentable area of the Building shall be deemed to be 50,809 square feet for purposes of this Lease, subject to Article 34.

Article 1 I. Tenant’s Share of Taxes:  7.0% subject to Articles 4 and 34.

Article 1 J. Tenant’s Share of Expenses:  7.0% subject to Articles 4 and 34.

Exhibit A:  Amended as attached hereto.

Exhibit D:  Amended as attached hereto.



Very truly yours,


/s/  Corydon N. Hill


Corydon N. Hill

ACCEPTED AND APPROVED:

PENTHOUSE MEDIA GROUP
a Nevada corporation

By: /s/  James M. Sullivan

Print Name: James M. Sullivan

Print Title: Chief Operating Officer



EXHIBIT “A”



Amendment to Exhibit D                                                                                                                            

Rentable SF

3,533

 

 

 

 

        

Period

Base Rent per SF

Annual Base Rent

(1)

Monthly
Base Rent

(1)

July - Dec 2006

$15.45

$54,584.84

(2)

$4,548.74

 

Jan - Dec 2007

15.91

56,222.37

 

4,685.20

 

Jan - Dec 2008

16.39

57,809.04

 

4,825.75

 

Jan - Dec 2009

16.88

59,646.31

 

4,970.53

 

 



 


 

 



 


 

(1)  Plus applicable sales tax and CAM.

(2)  Annualized.  Period 1 includes only 6 months.