Fourth Amendment to Sublease Agreement between Hewson-Memphis Partners and Williams-Sonoma, Inc.

Contract Categories: Real Estate › Lease Agreements
Summary

This amendment updates the sublease agreement between Hewson-Memphis Partners (landlord) and Williams-Sonoma, Inc. (tenant) for a distribution facility. It replaces certain exhibits in the original sublease with new versions but leaves all other terms unchanged. The amendment is effective as of February 1, 1996, and both parties have signed to confirm their agreement to these changes.

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EX-10.16 4 f71839ex10-16.txt FOURTH AMEND.TO SUBLEASE FOR DISTRIBUTION FACILITY 1 EXHIBIT 10.16 FOURTH AMENDMENT TO SUBLEASE This Fourth Amendment to Sublease (the "Fourth Amendment") is made and entered into as of the 1st day of February, 1996 by and between Hewson-Memphis Partners, a California general partnership composed of W. Howard Lester, James A. McMahan, Gary J. Hewson and Robert K. Earley (the "Landlord") and Williams-Sonoma, Inc., a California corporation (the "Tenant"), and amends that certain Sublease dated as of the 1st day of August, 1990 (the "Sublease"), that certain First Amendment to Sublease dated as of the 22nd day of December, 1993 (the "First Amendment"), that certain Second Amendment to Sublease dated as of September 1, 1994 (the "Second Amendment"), and that certain Third Amendment to Sublease dated October 24, 1995 (the "Third Amendment") between Landlord and Tenant (the Sublease, the First Amendment, the Second Amendment, and the Third Amendment, collectively, the "Existing Sublease"), as follows: 1. Exhibit C to the Existing Sublease is replaced in its entirety by Exhibit C attached hereto. 2. Exhibit C-1 to the Existing Sublease is replaced in its entirety by Exhibit C-1 attached hereto. 3. In all other respects, the Existing Sublease shall remain unmodified and in full force and effect. 2 IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amendment to Sublease as of the day and year first above written. WILLIAMS-SONOMA, INC., a HEWSON-MEMPHIS PARTNERS, a California corporation California General Partnership By: /s/ DENNIS CHANTLAND By: /s/ W. HOWARD LESTER ------------------------------- ---------------------------------- Dennis Chantland, W. Howard Lester, General Partner Executive Vice President and Chief Administrative Officer By: ---------------------------------- James A. McMahan, General Partner TENANT By: ---------------------------------- Gary J. Hewson, General Partner By: ---------------------------------- Robert K. Earley, General Partner LANDLORD -2- 3 EXHIBIT "C" WS2Bdgt/RENT8.WQ1 HEWSON-MEMPHIS PARTNERS/WILLIAMS-SONOMA, INC.
PH PH 1 II LSE YR LSE YR TOTAL - ------ ------ --------- 1 1,198,233 0 -- 1,198,233 2 1,162,232 0 -- 1,162,232 3 1,307,232 0 -- 1,307,232 4 1,347,072 0 -- 1,347,072 5 1,349,976 1 1,358,241 2,708,217 6 1,345,812 2 1,237,460 2,583,272 7 1,377,300 3 1,225,385 2,602,685 8 1,384,508 4 1,279,411 2,663,919 9 1,378,608 5 1,323,183 2,701,791 10 1,370,636 6 1,319,603 2,690,239 11 1,375,592 7 1,299,221 2,674,813 12 1,371,920 8 1,303,587 2,675,507 13 1,375,144 9 1,291,251 2,666,395 14 1,369,220 10 1,301,660 2,670,880 15 1,364,672 11 1,287,917 2,652,589 16 XXX% FMV 12 XXX% FMV T-B-D 17 " " 13 " " T-B-D 18 " " 14 " " T-B-D 19 " " 15 " " T-B-D 20 " " 16 " " T-B-D 21 XXX% FMV 17 XXX% FMV T-B-D 22 " " 18 " " T-B-D 23 " " 19 " " T-B-D 24 " " 20 " " T-B-D 25 " " 21 " " T-B-D
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TOTAL 1990 TOTAL 1994 CUMULATIVE DATE INTEREST PRINCIPAL DEBT SERVICE INTEREST PRINCIPAL DEBT SERVICE DEBT SERVICE - ----------- ---------- ---------- ------------ ---------- ------------ ------------ ------------ 01-Feb-96 265,216.00 265,216.00 261,562.50 2,675,000.00 2,956,562.50 3,221,776.50 01-May-96 265,216.00 265,216.00 221,308.13 221,308.13 486,524.13 01-Aug-96 265,216.00 185,000.00 450,216.00 221,308.13 225,000.00 446,308.13 896,524.13 01-Nov-96 260,424.50 260,424.50 216,240.00 216,240.00 476,664.50 01-Feb-97 260,424.50 260,424.50 216,240.00 216,240.00 476,664.50 01-May-97 260,424.50 260,424.50 216,240.00 216,240.00 476,664.50 01-Aug-97 260,424.50 200,000.00 460,424.50 216,240.00 245,000.00 461,240.00 921,664.50 01-Nov-97 255,244.50 255,244.50 210,721.38 210,721.38 465,065.88 01-Feb-98 255,244.50 255,244.50 210,721.38 210,721.38 465,065.88 01-May-98 255,244.50 255,244.50 210,721.38 210,721.38 465,065.88 01-Aug-98 255,244.50 220,000.00 475,244.50 210,721.38 255,000.00 465,721.38 940,965.88 01-Nov-98 249,546.50 249,546.50 204,977.50 204,977.50 454,524.00 01-Feb-99 249,546.50 249,546.50 204,977.50 204,977.50 454,524.00 01-May-99 249,546.50 249,546.50 204,977.50 204,977.50 454,524.00 01-Aug-99 249,546.50 250,000.00 499,546.50 204,977.50 280,000.00 484,977.50 984,524.00 01-Nov-99 243,071.50 243,071.50 198,670.50 198,670.50 441,742.00 01-Feb-2000 243,071.50 243,071.50 198,670.50 198,670.50 441,742.00 01-May-2000 243,071.50 243,071.50 198,670.50 198,670.50 441,742.00 01-Aug-2000 243,071.50 270,000.00 513,071.50 198,670.50 295,000.00 493,670.50 1,006,742.00 01-Nov-2000 236,078.50 236,078.50 192,025.63 192,025.63 428,104.13 01-Feb-2001 236,078.50 236,078.50 192,025.63 192,025.63 428,104.13 01-May-2001 236,078.50 236,078.50 192,025.63 192,025.63 428,104.13 01-Aug-2001 236,078.50 290,000.00 526,078.50 192,025.63 315,000.00 507,025.63 1,033,104.13 01-Nov-2001 228,567.50 228,567.50 184,930.25 184,930.25 413,497.75 01-Feb-2002 228,567.50 228,567.50 184,930.25 184,930.25 413,497.75 01-Aug-2002 228,567.50 325,000.00 553,567.50 184,930.25 340,000.00 524,930.25 1,078,497.75 01-Nov-2002 220,150.00 220,150.00 177,271.75 177,271.75 397,421.75 01-Feb-2003 220,150.00 220,150.00 177,271.75 177,271.75 397,421.75 01-May-2003 220,150.00 220,150.00 177,271.75 177,271.75 397,421.75 01-Aug-2003 220,150.00 355,000.00 575,150.00 177,271.75 370,000.00 547,271.75 1,122,421.75 01-Nov-2003 210,955.50 210,955.50 168,937.50 168,937.50 379,893.00 01-Feb-2004 210,955.50 210,955.50 168,937.50 168,937.50 379,893.00 01-May-2004 210,955.50 210,955.50 168,937.50 168,937.50 379,893.00 01-Aug-2004 210,955.50 395,000.00 605,955.50 168,937.50 395,000.00 563,937.50 1,169.893.00 01-Nov-2004 200,725.00 200,725.00 160,040.13 160,040.13 360,765.13 01-Feb-2005 200,725.00 200,725.00 160,040.13 160,040.13 360,765.13 01-May-2005 200,725.00 200,725.00 160,040.13 160,040.13 360,765.13 01-Aug-2005 200,725.00 430,000.00 630,725.00 160,040.13 430,000.00 590,040.13 1,220,765.13 01-Nov-2005 189,588.00 189,588.00 150,354.38 150,354.38 339,942.38 01-Feb-2006 189,588.00 189,588.00 150,354.38 150,354.38 339,942.38 01-May-2006 189,588.00 189,588.00 150,354.38 150,354.38 339,942.38 01-Aug-2006 189,588.00 470,000.00 659,588.00 150,354.38 455,000.00 605,354.38 1,264,942,38 01-Nov-2006 177,415.00 177.415.00 140,105.50 140,105.50 317,520.50 01-Feb-2007 177,415.00 177.415.00 140,105.50 140,105.50 317,520.50 01-May-2007 177,415.00 177.415.00 140,105.50 140,105.50 317,520.50 01-Aug-2007 177,415.00 515,000.00 692.415.00 140,105.50 500,000.00 640,105.50 1,332,520.50 01-Nov-2007 164,076.50 164,076.50 128,843.00 128,843.00 292,919.50 01-Feb-2008 164,076.50 164,076.50 128,843.00 128,843.00 292,919.50 01-May-2008 164,076.50 164,076.50 128,843.00 128,843.00 292,919.50
Exhibit C-1 5
TOTAL 1990 TOTAL 1994 CUMULATIVE DATE INTEREST PRINCIPAL DEBT SERVICE INTEREST PRINCIPAL DEBT SERVICE DEBT SERVICE - ----------- ------------- ------------- ------------- ------------- ------------- ------------- ------------- 01-Aug-2008 164,076.50 565,000.00 729,076.50 128,843.00 530,000.00 658,843.00 1,387,919.50 01-Nov-2008 149,443.00 149,443.00 116,904.75 116,904.75 266,347.75 01-Feb-2009 149,443.00 149,443.00 116,904.75 116,904.75 266,347.75 01-May-2009 149,443.00 149,443.00 116,904.75 116,904.75 266,347.75 01-Aug-2009 149,443.00 625,000.00 774,443.00 116,904.75 580,000.00 696,904.75 1,471,347.75 01-Nov-2009 133,255.50 133,255.50 103,840.25 103,840.25 237,095.75 01-Feb-2010 133,255.50 133,255.50 103,840.25 103,840.25 237,095.75 01-May-2010 133,255.50 133,255.50 103,840.25 103,840.25 237,095.75 01-Aug-2010 133,255.50 680,000.00 813,255.50 103,840.25 620,000.00 723,840.25 1,537,095.75 01-Nov-2010 115,643.50 115,643.50 89,874.75 89,874.75 205,518.25 01-Feb-2011 115,643.50 115,643.50 89,874.75 89,874.75 205,518.25 01-May-2011 115,643.50 115,643.50 89,874.75 89,874.75 205,518.25 01-Aug-2011 115,643.50 755,000.00 870,643.50 89,874.75 680,000.00 769,874.75 1,640,518.25 01-Nov-2011 96,089.00 96,089.00 74,557.75 74,557.75 170,646.75 01-Feb-2012 96,089.00 96,089.00 74,557.75 74,557.75 170,646.75 01-May-2012 96,089.00 96,089.00 74,557.75 74,557.75 170,646.75 01-Aug-2012 96,089.00 825,000.00 921,089.00 74,557.75 730,000.00 804,557.75 1,725,646.75 01-Nov-2012 74,721.50 74,721.50 58,114.50 58,114.50 132,836.00 01-Feb-2013 74,721.50 74,721.50 58,114.50 58,114.50 132,836.00 01-May-2013 74,721.50 74,721.50 58,114.50 58,114.50 132,836.00 01-Aug-2013 74,721.50 865,000.00 939,721.50 58,114.50 795,000.00 853,114.50 1,792,836.00 01-Nov-2013 52,318.00 52,318.00 40,207.13 40,207.13 92,525.13 01-Feb-2014 52,318.00 52,318.00 40,207.13 40,207.13 92,525.13 01-May-2014 52,318.00 52,318.00 40,207.13 40,207.13 92,525.13 01-Aug-2014 52,318.00 955,000.00 1,007,318.00 40,207.13 855,000.00 895,207.13 1,902,525.13 01-Nov-2014 27,583.50 27,583.50 20,948.25 20,948.25 48,531.75 01-Feb-2015 27,583.50 27,583.50 20,948.25 20,948.25 48,531.75 01-May-2015 27,583.50 27,583.50 20,948.25 20,948.25 48,531.75 01-Aug-2015 27,583.50 1,065,000.00 1,092,583.50 20,948.25 930,000.00 950,948.25 2,043,531.75 ---------------------------------------------------------------------------------------------------------- 13,935,236.00 10,240,000.00 24,175,236.00 11,274,438.25 12,500,000.00 23,774,438.25 47,949,674.25
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