rhe-ex10430_811.htm



Exhibit 10.430

 

SECOND AMENDMENT TO MASTER SUBLEASE AGREEMENT

THIS SECOND AMENDMENT T MASTER SUBLEASE AGREEMENT (this "Amendment') is entered into as of the 30 day of March, 2018 by and among ADK GEORGIA, LLC, a Georgia limited liability company ("Sublessor") and OS TYBEE, LLC, a Georgia limited liability company ("OS Tybee"), SB TYBEE, LLC, a Geprgia limited liability company ("SB Tybee") and JV JEFFERSONVILLE, LLC, a Georgia limited liability company ("W Jeffersonville") (OS Tybee, SB Tybee and JV Jeffersonville are collectively referred to as "Sublessee") and amends that certain Master Sublease between Sublessor and Sublessee dated June 18, 2016, as amended by that certain First Amendment (the "Master Sublease"). Capitalized terms used herein which are not otherwise defined shall have the meanings assigned to such terms in the Master Sublease.

RECITALS

WHEREAS, Sublessor and Sublessee have reached agreement regarding the Inontllly base rent payable under the Master Sublease and the increases thereto and desire to document such incrcases as set forth herein.

NOW, THEREFORE, in consideration of the mutual promises set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree that notwithstanding anything in Section 4. I(b) or the other provisions of the Master Sublease to the contrary, the Master Sublease shall be amended as follows:

1.Monthly Rent for the Jeffersonville Facility. Rent for the Jeffersonville Facility is culTently $27,295 which rate shall continue through March 1, 2018 at which time it shall increase to $54,590. Beginning July 1, 2018, Rent for the Jeffersonville Facility shall increase 3% to $56,227.70 and thereafter increase by an additional 3% on July 1 st of each remaining year of the Term and any extension thereof.

2.Monthly Rent for the Oceanside Facility. Rent for the Oceanside Facility is currently $18,540 which rate shall continue through March I, 2108 at which time it shall increase to $37,080. Beginning August 1, 20185 Rent for the Oceanside Facility shall increase by 3% to $38,192 and thereafter increase by an additional 3% on August 1 st of each remaining year of the Tenn and any extension thereof,

3.Additional Rent for thc Jeffersonville Facility, In addition to the Monthly Rent for the Jeffersonville Facility, beginning April 1, 2018, Sublessee shall pay to Sublessor the sum of $3,400 per month as Additional Rent for the Initial Term and any extension thereof. Beginning April 1, 2019, Additional Rent for the Jeffersonvillc Facility shall increase 3% to $3,502 and thereafter increase by an additional 3% on April 1 st of each remaining year of the Term and any extension thereof.

4.Additional Rent for the Oceanside Facility. In addition to the Monthly Rent for the Occanside Facility, beginning April 1, 2018, Sublessee shall pay to Sublessor the sum of $2,500 per month as Additional Rent for the Initial Term and any extension thereof, Beginning April 1, 2019, Additional Rent for the Oceanside Facility shall increase 3% to $2,575 and thereafter increase by an additional 3% on April 1st of each remaining year of the Term and any extension thereof.

 



 

5.Rent Payment Schedule. All Rents and Additional Rents shall be paid pursuant to the payment schedule attached hereto as Exhibit A.

6.Other Terms. All other terms and conditions of the Master Sublease not expressly amended or modified herein shall remain in full force and effect.

[Signatures on Following Page]

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IN WITNESS WHEREOF, this Second Amendment to Sublease has been executed by Sublessor and Sublessee as of the date first written above.

 


	
SUBLESSOR:

	
 

	
ADK GEORGIA, LLC,

	
a Georgia limited liability company

	
 

	
By:
	
 
	
/s/ Brent Morrison

	
Name:
	
 
	
Brent Morrison

	
Title:
	
 
	
Interim CEO




 


	
SUBLESSEE:

	
 

	
OS TYBEE, LLC,

	
a Georgia limited liability company

	
 

	
By:
	
 
	
/s/ David Lemcke

	
Name:
	
 
	
David Lemcke

	
Title:
	
 
	
CFO




 


	
SB TYBEE, LLC,

	
a Georgia limited liability company

	
 

	
By:
	
 
	
/s/ David Lemcke

	
Name:
	
 
	
David Lemcke

	
Title:
	
 
	
CFO




 


	
JV JEFFERSONVILLE, LLC,

	
a Georgia limited liability company

	
 

	
By:
	
 
	
/s/ David Lemcke

	
Name:
	
 
	
David Lemcke

	
Title:
	
 
	
CFO




 

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EXHIBIT A

 


	
RENT SCHEDULE

	
Jeffersonville
	
 
	
Oceanside

	
April 1, 2018
	
 
	
$54,590 
	
 
	
April 1, 2018
	
 
	
$37,080 

	
July 1, 2018
	
 
	
$56,228 
	
 
	
August 1, 2018
	
 
	
$38,192 

	
July 1, 2019
	
 
	
$57,915 
	
 
	
August 1, 2019
	
 
	
$39,338 

	
July 1, 2020
	
 
	
$59,652 
	
 
	
August 1, 2020
	
 
	
$40,518 

	
July 1, 2021
	
 
	
$61,442 
	
 
	
August 1, 2021
	
 
	
$41,734 

	
July 1, 2022
	
 
	
$63,285 
	
 
	
August 1, 2022
	
 
	
$42,986 

	
July 1, 2023
	
 
	
$65,183 
	
 
	
August 1, 2023
	
 
	
$44,275 

	
July 1, 2024
	
 
	
$67,139 
	
 
	
August 1, 2024
	
 
	
$45,604 

	
July 1, 2025
	
 
	
$69,153 
	
 
	
August 1, 2025
	
 
	
$46,972 

	
July 1, 2026
	
 
	
$71,228 
	
 
	
August 1, 2026
	
 
	
$48,381 

	
July 1, 2027
	
 
	
$73,364 
	
 
	
August 1, 2027
	
 
	
$49,832 




 


	
ADDITIONAL RENT

	
Jeffersonville
	
 
	
Oceanside

	
Aprll 1, 2018
	
 
	
$3,400 
	
 
	
April 1, 2018
	
 
	
$2,500 

	
April 1, 2019
	
 
	
$3,502 
	
 
	
April 1, 2019
	
 
	
$2,575 

	
April 1, 2020
	
 
	
$3,607 
	
 
	
April 1, 2020
	
 
	
$2,652 

	
April 1, 2021
	
 
	
$3,715 
	
 
	
April 1, 2021
	
 
	
$2,732 

	
April 1, 2022
	
 
	
$3,827 
	
 
	
April 1, 2022
	
 
	
$2,814 

	
April 1, 2023
	
 
	
$3,942 
	
 
	
April 1, 2023
	
 
	
$2,898 

	
April 1, 2024
	
 
	
$4,060 
	
 
	
April 1, 2024
	
 
	
$2,985 

	
April 1, 2025
	
 
	
$4,182 
	
 
	
April 1, 2025
	
 
	
$3,075 

	
April 1, 2026
	
 
	
$4,307 
	
 
	
April 1, 2026
	
 
	
$3,167 

	
April 1, 2027
	
 
	
$4,436 
	
 
	
April 1, 2027
	
 
	
$3,262 

	
April 1, 2028
	
 
	
$4,569 
	
 
	
April 1, 2028
	
 
	
$3,360 




 

 

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