EO C

LEASE AMENDMENT

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Case 17-03283-LTS9 Claim 1539-2 Part 3 Filed 06/25/18 Desc Exhibit B - rental

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Case 17-03283-LTS9 Claim 1539-2 Part 3 Filed 06/25/18 Desc Exhibit B - rental

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Case 17-03283-LTS9 Claim 1539-2 Part 3 Filed 06/25/18 Desc Exhibit B - rental

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CERTIFIED TRANSLATION

I, Juan E. Segarra, USCCI #06-067/translator, certify that the foregoing is a true and accurate 

translation, to the best of my abilities, of the document in Spanish which I have seen.

Case 17-03283-LTS9 Claim 1539-2 Part 3 Filed 06/25/18 Desc Exhibit B - rental

contract Page 19 of 21

CONTRACT NUMBER: 2011[illegible]0009-B

NAME OF CONTRACTOR: EMPRESAS OMAJEDE INC. 

CONTRACTOR EMPLOYER IDENTIFICATION NUMBER: 9044 

TOTAL AMOUNT: $00.00

GOVERNMENT OF PUERTO RICO

PUBLIC SERVICE COMMISSION

CONTRACT NUMBER: 2011-000009-B

Executed in San Juan, Puerto Rico, on September 7, 2012. 

AMENDMENT TO CONTRACT 2011-000009, TO COMPLY WITH IMPROVEMENT 

AMORTIZATION CLAUSE.

IT IS ATTACHED AS AN INTEGRAL PART OF ORIGINAL CONTRACT NO. 2011-000009.

COME NOW

THE FIRST PARTY: Empresas Omajede, Inc., owning corporation, represented in this act by

Mr. Antonio Betancourt, of legal age, unmarried and resident of Guaynabo, Puerto Rico, in his capacity 

as President of the corporation, with Employer Identification Number 9044, and with offices in

San Juan, Puerto Rico, hereinafter referred to as the LESSOR.

THE SECOND PARTY: The Puerto Rico Public Service Commission, with Employer 

Identification Number -7678, represented in this act by its President, Mr. José H. Banuchi 

Hernández, of legal age, unmarried and resident of San Juan, Puerto Rico, in his capacity as 

President, hereinafter referred to as the LESSEE.

AND STATE

FIRST: On March 9, 2011, the appearing parties executed agreement number 2011-000009 to lease 

commercial premises in an immovable property located on Road 1, Bori Street, No. 1608, San Juan, 

Puerto Rico. The premises that are the subject of the lease are on the first floor of the building and 

measure approximately thirty-two thousand (32,000) square feet. The leased premises also include 

one hundred and twenty-five (125) parking spots reserved for exclusive use by the Lessee.

SECOND: In order to adapt the commercial premises to the needs of the Lessee, the Lessor made 

some improvements, for which an improvement amortization clause was included in the original 

agreement. The fourth clause of original agreement number 2011-000009, which gives rise to the 

present agreement/amendment, is transcribed below:

"If the lessee decides to terminate the lease agreement before its expiration, The lessee shall 

pay the lessor the unrecovered cost of the improvements made in the premises using the 

Straight Line accounting method. Improvement costs and other costs incurred in relation to 

the lease agreement shall not exceed the amount of Five Hundred Thousand Dollars (US

$500,000.00), and includes, among others, architect fees, insurance, taxes,

[Two sets of initials on left-hand margin of this page.]

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CERTIFIED TRANSLATION

I, Juan E. Segarra, USCCI #06-067/translator, certify that the foregoing is a true and accurate 

translation, to the best of my abilities, of the document in Spanish which I have seen.

Case 17-03283-LTS9 Claim 1539-2 Part 3 Filed 06/25/18 Desc Exhibit B - rental

contract Page 20 of 21

2

excise taxes, real estate agent commission and constructions costs, paint and other 

improvements to the first floor of the building and its parking area. After the Lessor delivers to 

Lessee the premises, along with a certified document, which shall be an integral part of the 

present agreement, evidencing invoices and costs incurred in respect of said improvements, 

both parties shall sign an amendment to this agreement establishing the improvement amount 

as evidenced."

THIRD: On August 1, 2011, an amendment was made to agreement 2011-000009, known as 

agreement number 2011-000009-A, and titled "Document regarding Acceptance and Entering into 

Possession of La Electrónica Premises - Appendix to Agreement 2011-000009." The present 

agreement/amendment does not change what was established in agreement/amendment number 

2011-000009-A.

FOURTH: Following delivery by the Lessor of the documents related to the Improvements, on January 

11, 2012, which consist of 120 pages detailing the total cost of the improvements, including invoices, 

letters, checks, contractor agreement, etc., and on August 15, 2012, the applicable certifications from 

product and service suppliers (13 pages), evidencing the costs incurred, for a total of three hundred 

and forty-two thousand seventy-four and seventy cents ($342,074.70),.

FIFTH: Today, the Lessor, Empresas Omajede, Inc., in compliance with the Fourth clause of 

agreement 2011-000009, or Improvement Amortization clause, and hereby certifies delivery of said

documents.

SIXTH: Following an evaluation of the documents by the Lessee, the latter does not have any objection 

to the same; therefore, they are included as an appendix to the present agreement/amendment, and 

by virtue of the same are made an integral part of original lease agreement number 2011-000009.

SEVENTH: All the other clauses of original agreement number 2011-00009, and of amendment 

number 2011-2000009-A, continue to be in force and effect and unaltered. This contract/amendment 

is executed for the sole purpose of accepting the documents which evidence the cost of the 

improvements made by the Lessor.

IN WITNESS WHEREOF: The appearing parties execute the present agreement/amendment in San 

Juan, Puerto Rico, today, September 7, 2012.

[signature] [signature]

Mr. Antonio Betancourt Mr. José H. Banuchi Hernández

Empresas Omajede, Inc. Public Service Commission

Edificio la Electrónica, Inc. PO Box 190870

Borí Street # 1608 San Juan, PR 00919-0870

San Juan, PR 00927 Fax 787-300-6473

Fax 787-765-2268 email: jbanuchi@csp.gobierno.pr

email - eoinc@tiwc.net

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CERTIFIED TRANSLATION

I, Juan E. Segarra, USCCI #06-067/translator, certify that the foregoing is a true and accurate 

translation, to the best of my abilities, of the document in Spanish which I have seen.

[Translator’s note: Model OC-08-08 in both languages, Spanish and English.]

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