EX-10.18





 Exhibit 10.18 

FIFTH AMENDMENT TO INDUSTRIAL REAL ESTATE LEASE 

THIS FIFTH AMENDMENT TO INDUSTRIAL REAL ESTATE LEASE is dated this 1st day of May, 2020 between PAGODA
PARTNERS LLC, an Ohio limited liability company, having an address of 1801 E. Ninth Street, Suite 1600, Cleveland, Ohio 44114-3103 (“Landlord”), and ARHAUS, LLC a Delaware limited liability company, fka HOMEWORKS, INC, having an address of
51 East Hines Hill Road, Boston Heights, Ohio 44236 (“Tenant”). 
 RECITALS 

 

	A.	 Landlord and Tenant entered into a certain Industrial Real Estate Lease, dated November 8, 2000 (the
“Original Lease”), with respect to premises known as 7700 Northfield Road, Walton Hills, Ohio 44146. 


  

	B.	 Landlord and Tenant amended the Original Lease pursuant to the first Amendment to Industrial Real Estate Lease
dated September 22, 2004 (the “1st Amendment”), the Second Amendment to Industrial Real Estate Lease dated April 12, 2005 (the “2nd Amendment”), and the Third Amendment dated December 16, 2013 (the “3rd Amendment”) and the Fourth Amendment dated May 16, 2019 (the “4th Amendment”).



  

	C.	 The parties desire to amend the Original Lease as previously amended (the “Lease”) to amend the rent
payments for the remainder of the Lease Term. 


 NOW THEREFORE, for good and valuable consideration, the Landlord and Tenant agree as
follows: 
  

	 	1.	 Exhibit B-1 shall be modified with from the date this Fifth Amendment
is signed with the following rent payment plan: 


  

											
	April	 	 2020
	  	$	—  	 	  	 	Deferred	 
	May	 	 2020
	  	$	—  	 	  	 	Deferred	 
	June	 	 2020
	  	$	145,597.27	 	  			
	July	 	 2020
	  	$	145,597.27	 	  			
	August	 	 2020
	  	$	145,597.27	 	  			
	September	 	 2020
	  	$	145,597.27	 	  			
	October	 	 2020
	  	$	145,597.27	 	  			
	November	 	 2020
	  	$	145,597.27	 	  			
	December	 	 2020
	  	$	145,597.27	 	  			
				
	January	 	 2021
	  	$	113,243.32	 	  			
	February	 	 2021
	  	$	113,244.32	 	  			
	March	 	 2021
	  	$	113,245.32	 	  			
	April	 	 2021
	  	$	113,246.32	 	  			













 The remaining provisions of the Lease and Exhibits shall remain unchanged and unaffected by this 5th
Amendment. 
 IN WITNESS WHEREOF, the parties have caused their authorized representatives to execute this Agreement as of the day and year first written
above. 
  

									
	PAGODA PARTNERS LLC,	 		 	Arhaus, LLC
					
	By:	 	 /s/ John P. Reed
	 		 	By:	 	 /s/ John P. Reed

		 	John P. Reed, Manager	 		 		 	John P. Reed, CEO
					
	By:	 	 /s/ Christopher E. Smythe
	 		 		 	
		 	Christopher E. Smythe, Manager	 		 		 	














			
	STATE OF OHIO	 	)
		 	) SS
	COUNTY OF SUMMIT	 	)

 The foregoing instrument was acknowledged before me this 8 day of July, 2020, by John P. Reed, a Manager of PAGODA
PARTNERS LLC, an Ohio limited liability company, on behalf of the limited liability company 
  

					
	(SEAL)	 	
                          
                      
  
	 	 /s/ Barbara S. Lee

		 	
	  
 My commission expires:


  
  

 

			
	STATE OF OHIO	 	)
		 	) SS
	COUNTY OF CUYAHOGA	 	)

 The foregoing instrument was acknowledged before me this 8th day of July,
2020, by Christopher E. Smythe, a Manager of PAGODA PARTNERS LLC, an Ohio limited liability company, on behalf of the limited liability company 
  

			
	(SEAL)	 	 /s/ Edward J. Bill

		 	Notary Public
		
	 My commission expires:
	 	

  
  

 

			
	STATE OF OHIO	 	)
		 	) SS
	COUNTY OF SUMMIT	 	)

 The foregoing instrument was acknowledged before me this 8 day of July, 2020, by John P. Reed, Chief Executive Officer of
Arhaus, LLC a Delaware limited liability company, on behalf of the limited liability company. 
  

					
	(SEAL)	 		 	 /s/ Barbara A. Lee

		 		 	Notary Public
			
	My commission expires: