First Amendment to Lease Agreement between Hospitality Income & Asset, LLC and Bourbon Brothers Presents, LLC
This amendment updates the original lease agreement between Hospitality Income & Asset, LLC (Landlord) and Bourbon Brothers Presents, LLC (Tenant), both based in Colorado Springs. Effective May 1, 2022, the base rent is reduced to $7,500 per month ($90,000 annually) for the remainder of the lease. The provision for rent adjustments every 60 months remains unchanged. All other terms of the original lease continue to apply.
Exhibit 10.22
FIRST AMENDMENT
TO
LEASE AGREEMENT
THIS FIRST AMENDMENT TO THE LEASE AGREEMENT (“Amendment”) is made and entered into this 1st day of April 2022, between Hospitality Income & Asset, LLC, a Colorado limited liability company whose address is 1820 Jet Stream Drive, Colorado Springs, Co 80921, herein designated as the “Landlord,” and Bourbon Brothers Presents, LLC, a Colorado limited liability company whose address is 1820 Jet Stream Drive, Colorado Springs, Co 80921, herein designated as the “Tenant”.
This is to amend the Lease Agreement (“Lease”) originally dated October 23, 2018.
| 1. | Rental. The Base Rent will be adjusted starting May 1, 2022. The monthly installments due will be $7,500.00 per month or $90,000 annually. This reduction is base rent will be in effect through the remainder of the lease. The rent adjustments to take place every 60 months is still in effect. |
IN WITNESS WHERE OF, this Amendment is executed as of the day and year first written above.
| LANDLORD: Hospitality Income & Asset, LLC | |
| /s/ JW Roth | |
| JW Roth, Manager | |
| TENANT: Bourbon Brothers Presents, LLC | |
| /s/ JW Roth | |
| JW Roth, Manager |
| Current | ||||||||
| full rent | ||||||||
| base rent | 7,500.00 | $ | 1,730.77 | |||||
| insurance | 2,700.00 | $ | 623.08 | |||||
| taxes | 5,300.00 | $ | 1,223.08 | |||||
| weekly transfer | 15,500.00 | $ | 3,576.92 | |||||
