Modification to Lease Agreement between C. Presley Properties, LLC and Brandington-Young, LLC

Contract Categories: Real Estate › Lease Agreements
Summary

This agreement modifies a previous lease between C. Presley Properties, LLC (Landlord) and Brandington-Young, LLC (Tenant). The Landlord will increase the rentable space from about 33,500 to 66,430 square feet. In return, the Tenant will pay a higher monthly rent of $8,400 and monthly property taxes of $815. The Landlord will also remove its property from the new space, and the Tenant will pay $5,000 for moving expenses. All other terms of the original lease remain unchanged.

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EX-10.1 2 dex101.htm LEASE AGREEMENT LEASE AGREEMENT

Exhibit 10.1

NORTH CAROLINA

 

GASTON COUNTY   MODIFICATION TO LEASE

 

THIS MODIFICATION, made and entered into this 1st day of February, 2005, by and between C. PRESLEY PROPERTIES, LLC, a North Carolina Limited Liability Company, hereinafter referred to as “Landlord”, and BRANDINGTON-YOUNG, LLC, a Virginia Limited Liability Company, hereinafter referred to as “Tenant.”

 

W I T N E S S E T H

 

WHEREAS Landlord and Tenant entered into a Lease Agreement (“Contract”) on the 1st day of July, 2004; and

 

WHEREAS Landlord has agreed to increase the rentable square footage of the Building referred to in said Contract and Tenant has agreed to Pay an increased rental in exchange for the increased rentable square footage;

 

NOW THEREFORE, in consideration of the mutual promises contained herein and for valuable consideration in hand paid, the parties agree as follows:

 

  1. Landlord shall increase the rentable square footage of the Building from approximately 33,500 square feet to approximately 66,430 square feet, said rentable area being outlined on Exhibit “A” attached hereto.

 

  2. That Tenants shall pay an increased rental of $8,400 each and every month and shall additionally pay property taxes for the Building in equal monthly installments of $815.00 each.

 

  3. That Landlord shall remove any and all of its equipment and personal property from the additional rental space and that Tenant shall pay Presley & Associates, LLC $5,000.00 for said moving expenses.

 

  4. That, except as provided by this Modification, the Contract shall remain in full force and effect.

 

The Landlord and Tenant have hereunto executed this agreement the day and year above set forth.

 

TENANT:

      

LANDLORD:

BRANDINGTON-YOUNG, LLC

      

C. PRESLEY PROPERTIES, LLC

By:         By:  
   

Manager

          

Manager