changes in general economic and business conditions

EX-10.36.2 18 a95908exv10w36w2.txt EXHIBIT 10.36.2 EXHIBIT 10.36.2 SECOND AMENDMENT TO SUBLEASE THIS SECOND AMENDMENT TO THE SUBLEASE ("Second Amendment") is entered into as of September 1 2003, by and between WFS FINANCIAL INC., ("SUBLESSOR"), and WFS RECEIVABLE CORPORATION, WFS RECEIVABLES CORPORATION 2, WFS RECEIVABLES CORPORATION 3, WFS RECEIVABLES CORPORATION 4, WFS FINANCIAL AUTO LOANS, INC., WFS FINANCIAL AUTO LOANS 2, INC., WESTERN AUTO INVESTMENTS, INC., AND WFS FUNDING, INC., (EACH INDIVIDUALLY KNOWN AS THE "SUBLESSEE" AND COLLECTIVELY KNOWN AS THE "SUBLESSEES") and hereby amends the Sublease between Sublessor and Sublesees dated June 1, 2002, as amended. Sublessor and Sublessees hereby agree to the following: A. PARTIES: The Sublease shall be amended to include WFS Receivables Corporation 4, as an additional Sublessee. B. RENT: Effective September 1, 2003, Exhibit "A" shall be replaced by Exhibit "A-2", attached hereto. C. SECURITY DEPOSIT: Effective September 1, 2003, the first sentence of Section 7 shall be amended to read: "Sublessees shall each deposit One Hundred Ten and 40/100 Dollars ($110.40) as security for Sublessess' faithful performance of Sublessees' obligations hereunder ("Security Deposit")." D. NOTICES: Section 15 shall be amended to include: To Sublessee: WFS Receivables Corporation 4 Attn: John Coluccio 444 E. Warm Springs Rd., Suite 116 Las Vegas, NV 89119 Except as modified by this Second Amendment to Sublease, the Sublease shall remain in full force and affect. Capitilized terms not defined herein shall have the meaning as set forth in the Sublease. This Second Amendment to Sublease and the Sublease embodies the entire agreement between the parties relating to the subject matter contained herein. SUBLESSOR: WFS Financial Inc SUBLESSEE: WFS Receivables Corporation By: By: ------------------------------------ ----------------------------------- Jon Kidwell John Coluccio Title: Corporate Real Estate, Manager Title: President By: By: ------------------------------------ ----------------------------------- Lee Whatcott Keith Ford Title: CFO Title: Assistant Vice President Date:__________________________________ Date:_________________________________ SUBLESSEE: WFS Receivables SUBLESSEE: WFS Financial Auto Loans Corporation 2 By: By: ------------------------------------ ----------------------------------- John Coluccio John Coluccio Title: President Title: President By: By: ------------------------------------ ----------------------------------- Keith Ford Keith Ford Title: Assistant Vice President Title: Assistant Vice President Date:__________________________________ Date:_________________________________ SUBLESSEE: WFS Financial Auto SUBLESSEE: Western Auto Loans 2 Inc Investments, Inc. By: By: ------------------------------------ ----------------------------------- John Coluccio John Coluccio Title: President Title: President By: By: ------------------------------------ ----------------------------------- Keith Ford Keith Ford Title: Assistant Vice President Title: Assistant Vice President Date:__________________________________ Date:_________________________________ SUBLESSEE: WFS Funding, Inc. SUBLESSEE: WFS Receivables Corporation 3 By: By: ------------------------------------ ----------------------------------- John Coluccio John Coluccio Title: President Title: President By: By: ------------------------------------ ----------------------------------- Keith Ford Keith Ford Title: Assistant Vice President Title: Assistant Vice President Date:__________________________________ Date:_________________________________ Sublessee: WFS Receivable Corporation 4 By: ------------------------------------ John Coluccio Title: President By: ------------------------------------ Keith Ford Title: Assistant Vice President Date:__________________________________ 2 EXHIBIT "A-2" TO SUBLEASE RENT SCHEDULE Each of the Eight (8) Sublessees shall pay one eighth (.125%) of the Minimum Rent and Operating Costs in accordance with Sections 6.1, 6.2 and the Rent Schedule indicated below. RENT SCHEDULE
Period Minimum Rent Amount due from each Sublessee - ----------------------------- -------------------- ------------------------------ Sept 1, 2003 - April 30, 2004 $883.20 per month $110.40 per month May 1, 2004 - April 30, 2005 $909.72 per month $113.72 per month May 1, 2005 - April 30, 2006 $936.99 per month $117.12 per month May 1, 2006 - April 30, 2007 $965.10 per month $120.64 per month May 1, 2007 - April 30, 2008 $994.05 per month $124.26 per month May 1, 2008 - April 30, 2009 $1,023.90 per month $127.99 per month May 1, 2009 - April 30, 2010 $1,054.59 per month $131.82 per month May 1, 2010 - April 30, 2011 $1,086.20 per month $135.78 per month May 1, 2011 - April 30, 2012 $1,118.82 per month $139.85 per month
OPERATING COSTS Sublessees prorata share of the Operating Cost due under the Sublease is Eight and Forty Three Hundredths percent (8.43%). Each Sublessee shall pay one Eighth percent (.125%) of the total amounts due. The initial Operated Cost for the Sublease is $175.89 per month therefore each Sublessee shall pay $21.99 per month. The Operating Cost is subject to adjustments in accordance with Section 6.2 of the Sublease. 3