LEASE AMENDMENT AGREEMENT (Rental Increase Following Landlord FundedImprovement)
EXHIBIT 10.9
LEASE AMENDMENT AGREEMENT
(Rental Increase Following Landlord Funded Improvement)
This lease amendment and assignment agreement is made May 10, 2007, between CALIBER DEVELOPMENT COMPANY LLC (the Landlord), and GREAT WHITE PRESSURE CONTROL, LLC (the Tenant).
WITNESSETH:
WHEREAS, pursuant to the lease dated December 13, 2006 (the Lease), Tenant let from Landlord certain real property and improvements situated thereon physically located in Oklahoma County, Oklahoma, and more particularly described in Exhibit A of said Lease.
WHEREAS, the Landlord funded and completed capital improvements as requested by Tenant trigging an increase rental amount per Section 3.1 of Lease.
NOW, THEREFORE, in consideration of the matters described above and for the mutual benefits and obligations set forth in this agreement, the parties agree as follows:
1. CONSTRUCTION. This lease amendment agreement shall be construed in conjunction with the Lease and, except as amended by this instrument, all of the terms, covenants, and conditions of the Lease shall remain in full force and effect and are ratified and confirmed by this instrument.
2. DEFINED TERMS. All terms used in this lease amendment agreement shall have the meanings ascribed to them in the Lease unless otherwise defined in this instrument.
3. RENTAL INCREASE. Effective as of June 1, 2007, monthly Rent due under Section 3 of the Lease shall be amended to $27,874.06.
[SIGNATURE PAGE TO FOLLOW]
IN WITNESS WHEREOF, the Landlord and the Tenant have executed and delivered this lease amendment and extension agreement, as of the day and year first written above.
LANDLORD | CALIBER DEVELOPMENT COMPANY LLC | |||||
By: | /s/ Jade Noles | |||||
Name: | Jade Noles | |||||
Title: | President | |||||
TENANT | GREAT WHITE PRESSURE CONTROL, LLC | |||||
By: | /s/ Philip Lancaster | |||||
Name: | Philip Lancaster | |||||
Title: | CEO |