Amendment to Sublease and Access Agreement between Voyager Petroleum, Inc. and D.A. Stuart Company for 600 S. Deacon Street, Detroit
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Voyager Petroleum, Inc. and D.A. Stuart Company have agreed to amend their existing sublease for the property at 600 S. Deacon Street, Detroit. From February 1 to March 31, 2007, Voyager is granted access to the premises for due diligence, with payments during this period considered access fees, not rent. Effective April 1, 2007, the agreement becomes a sublease. Voyager remains responsible for all obligations, including insurance and security, from February 1, 2007. All other terms of the original agreement remain unchanged.
EX-10.1 2 voyager_8k-1001.txt LETTER EXHIBIT 10.1 VOYAGER March 9, 2007 Charles Santangelo, President D.A. Stuart Company 4580 Weaver Parkway Warrenville, Illinois 60555 Re: Premises at 600 S. Deacon Street, Detroit, Michigan --------------------------------------------------- Dear Charlie, As we have discussed, Voyager Petroleum, Inc. ("Voyager") is still in the process of conducting its due diligence inspections, including environmental assessments, at the premises at 600 South Deacon Street, Detroit, Michigan ("Premises"). The purpose of this letter is to amend the Sublease between Voyager and Stuart, and related side letter dated January 17, 2007 (collectively "Agreement"), pertaining to the Premises. The Agreement shall be deemed an access agreement only, as of its February 1, 2007 commencement date through March 31, 2007. Effective April 1, 2007, the Agreement shall be considered a sublease. Voyager shall continue to be responsible for all liabilities and obligations, including, without limitation, payment obligations, set forth in the Agreement, effective as of February 1, 2007. The parties agree that Voyager is receiving good and valuable consideration, namely the right of access to the Deacon Premises for purposes of conducting its due diligence, in consideration for Voyager's agreement to pay such expenses and obligations under the Agreement. However, such payments shall not be deemed "rent", but rather "access fees," for the period from February 1 through March 31, 2007. All other terms and conditions of the Agreement shall remain in effect and operative as of February 1, 2007, including, without limitation, the obligations to insure the Premises and to keep the Premises secure, as required by the Agreement. Voyager Petroleum - 16 East Hinsdale Avenue - Hinsdale, IL 60521 ###-###-#### March 9, 2007 Page 2 Please countersign this letter in the space provided below to confirm your agreement. Thank you. Voyager Petroleum, Inc. By: /s/ Jefferson Stanley ---------------------------- Jefferson Stanley Its: Chief Executive Officer ACCEPTED AND AGREED TO: D.A. Stuart Company By: /s/ Charles Santangelo --------------------------- Charles Santangelo Its: President Dated: March 16, 2007 --------------