Exhibit
10.11


 


SECOND
AMENDMENT TO LEASE AGREEMENT


 


 


This Second
Amendment to Lease Agreement made and entered into this 27th day of March,
2001, by and between SARUM MANAGEMENT, INC., as successor by assignment to The
Bell Company, 75 Marc Avenue, Cuyahoga Falls, Ohio 44223 (hereinafter referred
to as “Lessor”) and AKW, L.P., 1015 East 12th Street, Suite 200,
P.O. Box 29, Erie, PA 16503, as successor by assignment to Kaiser Aluminum and
Chemical Corp., a Delaware corporation (hereinafter referred to as “Lessee”).


 


W I T N E S S E T H:


 


WHEREAS, the
parties hereto, by their predecessors in interest, have entered into a Lease
Agreement dated November 1, 1988, together with the First Amendment to Lease
Agreement (“First Amendment”) dated September 30, 1999 (herein collectively
“Lease Agreement”); and


 


WHEREAS, the
parties desire to modify the Lease Agreement pursuant to the terms hereof.


 


NOW, THEREFORE,
for valuable consideration, including the covenants herein contained, receipt
of which is hereby acknowledged, the parties agreed as follows:


 


1.             By
execution hereof, Lessee shall be deemed to have exercised its right to renew
the term of the lease for the First Additional Renewal Term (July 1, 2001-June
30, 2003).  Failure of Lessee to give a
150-day prior notice of renewal is hereby waived by Lessor.


 


2.             Notwithstanding
the Rent set forth in the Lease Agreement for the First Additional Renewal
Term, the parties agree that provided there is no event of default or other
event which with the passage of time would become an event of default, Lessor
shall accept as annual rent for the first year of the First Additional Renewal
Term (July 1, 2001—June 30, 2002) the annual sum of Three Hundred Eighty-Six
Thousand Nine Hundred Thirty-Four and 60/100 Dollars ($386,934.60) (2.938 per
square foot) payable in monthly installments of Thirty-Two Thousand Two Hundred
Forty-Four and 55/100 Dollars ($32,244.55). 
The rent for the second year of the First Additional Renewal Term shall
be as provided in the First Amendment.


 


3.             All other terms and conditions of the Lease Agreement
and First Amendment to Lease Agreement, including Lessee’s obligations to pay
taxes, utilities, and maintenance remain as set forth therein and shall remain
in full force and effect.


 

















 


IN WITNESS WHEREOF, the parties have hereunto set
their hands on the 27th day of March, 2001.


 


	
   

  	
   

  	
   

  	
   

  	
  SARUM MANAGEMENT, INC.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By: 

  	
  /s/ Michael E.
  Bell, Sr.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Its: 

  	
  President

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  AKW, L.P.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By: 

  	
  AKW General
  Partner LLC,

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Its: 

  	
  General Partner­

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By: 

  	
  /s/ William P. Greubel

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  William P. Greubel

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Manager

  	
   

  	
   

  
	
  STATE
  OF OHIO

  	
  )

  	
   

  	
   

  	
   

  
	
   

  	
  )

  	
  SS:

  	
   

  	
   

  
	
  COUNTY
  OF SUMMIT

  	
  )

  	
   

  	
   

  	
   

  
													



 


BEFORE ME, a Notary Public, in and for said
County and State, personally appeared the above-named, Sarum Management, Inc.,
by
                                     ,
its
                                     ,
who acknowledged that he did sign the foregoing instrument and that the same is
his free act and deed and the free act and deed of said corporation.


 


IN TESTIMONY WHEREOF, I have hereunto set my hand
and official seal this       day of
          , 2001.


 


	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Notary
  Public

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  



 


	
  STATE
  OF INDIANA

  	
  )

  	
   

  	
   

  	
   

  
	
   

  	
  )

  	
  SS:

  	
   

  	
   

  
	
  COUNTY
  OF VANDERBURGH

  	
  )

  	
   

  	
   

  	
   

  



 


BEFORE ME, a Notary Public, in and for said
County and State, personally appeared the above-named, AKW, L.P., by William P.
Greubel, the Manager of AKW General Partner LLC, its General Partner, who
acknowledged that he did sign the foregoing instrument and that the same is his
free act and deed and the free act and deed of said entity.


 


IN TESTIMONY WHEREOF, I have hereunto set my hand
and official seal this       day of
          , 2001.


 


	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Notary
  Public

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  



 


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