Lease Renewal Notice between Monro Muffler Brake, Inc. and 425 Manchester Road L.L.C. for 425 Manchester Road, Westminster, MD
Monro Muffler Brake, Inc. notifies 425 Manchester Road L.L.C. of its intent to renew the lease for the property at 425 Manchester Road, Westminster, MD, for a ten-year period from April 1, 2018, to March 31, 2028. The annual rent will increase by 3% each year, with specific amounts listed for each year. After this renewal, no further renewal options remain for the tenant. The letter serves as the official renewal notice under the original lease agreement.
Exhibit 10.81d
May 30, 2017
Via Certified Mail – Return Receipt Request
Mr. Fred Tomarchio
425 Manchester Road L.L.C.
P.O. Box 55
Glenelg, MD 21737
| RE: | Lease Agreement dated January 1, 1998 by and between 425 Manchester Road L.L.C. (“Landlord”) and Monro Muffler Brake, Inc., successor-in-interest to Mr. Tire, Inc. (“Tenant”) for premises situate at 425 Manchester Road, Westminster, MD [MMB #754] |
Dear Fred:
Please accept this letter as Monro Muffler Brake, Inc.’s official notification of our intent to renew said lease agreement for the ten-year renewal period commencing April 1, 2018 and expiring March 31, 2028. The rent for said renewal shall be increased annually by 3% as shown below:
|
| April 1, 2018 - March 31, 2019 | $15,351.94 |
| | April 1, 2019 - March 31, 2020 | $15,812.50 |
| | April 1, 2020 - March 31, 2021 | $16,286.88 |
| | April 1, 2021 - March 31, 2022 | $16,775.48 |
| | April 1, 2022 - March 31, 2023 | $17,278.75 |
| | April 1, 2023 - March 31, 2024 | $17,797.11 |
| | April 1, 2024 - March 31, 2025 | $18,331.02 |
| | April 1, 2025 - March 31, 2026 | $18,880.95 |
| | April 1, 2026 - March 31, 2027 | $19,447.38 |
| | April 1, 2027 - March 31, 2028 | $20,030.80 |
Tenant shall have no renewal options remaining.
Please do not hesitate to contact Mindi Collom at ###-###-#### if you have any questions relative to the renewal.
Very truly yours,
/s/ John W. Van Heel
John W. Van Heel
CEO & President
JVH:mc
